By Neil Jerome Morales MANILA (Reuters) – The CEO of 26 Capital Acquisition Corp said on Wednesday the blank-check firm was committed to its $2.5 billion purchase of the Philippines’ biggest integrated casino-resort, despite a wrangle for control involving current owners. The 44-hectare (108-acre) Okada Manila, owned by subsidiaries of Japan’s Universal Entertainment Corp, agreed…
(Reuters) -Elon Musk is expected to reiterate his desire to own Twitter Inc when he speaks to the social-media company’s employees on Thursday, the Wall Street Journal reported, citing a person familiar with the matter. The head of electric car maker Tesla Inc is likely to clarify recent comments about remote work and talk about…
By Huw Jones and Simon Jessop LONDON (Reuters) – Three competing plans to curb companies from exaggerating their green credentials could lead to more frustration and costs for businesses, especially starting next year. Over $3 trillion has flowed into investments specifically touting their environmental, social and governance (ESG) credentials reported under scores of voluntary disclosures,…
NEW YORK (Reuters) – The Federal Reserve on Wednesday raised its target interest rate by three-quarters of a percentage point on Wednesday to stem a disruptive surge in inflation, and projected a slowing economy and rising unemployment in the months to come. The action raised the short-term federal funds rate to a range of 1.50%…
By Lucy Craymer WELLINGTON (Reuters) -New Zealand’s economy unexpectedly contracted in the first quarter as a slump in exports swamped strong domestic spending, though many analysts believe it will dodge a recession as activity rebounds from coronavirus lockdowns. Production-based output fell by 0.2% in the quarter, Statistics NZ said on Thursday. That was below economists’…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve on Wednesday approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that U.S. central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out…
By Marcela Ayres BRASILIA (Reuters) -Brazil’s central bank on Wednesday raised interest rates by 50 basis points, in line with prevailing market expectations, and signaled another increase coming in the world’s most aggressive rate-hiking cycle. The bank’s rate-setting committee, known as Copom, raised its benchmark Selic interest rate to 13.25%, the highest level since the…
By Koh Gui Qing NEW YORK (Reuters) – Global stocks rallied and government bond yields and the dollar retreated from multi-year highs on Wednesday as investors cheered the Federal Reserve’s decision to raise interest rates by three-fourths of a percentage point, the biggest increase since 1994. Investors seemed relieved that the U.S. central bank had…
By Marcela Ayres BRASILIA (Reuters) – Brazil’s central bank on Wednesday raised interest rates by 50 basis points, in line with prevailing market expectations, and signaled an upcoming increase of the same size or smaller, extending an aggressive tightening cycle. The bank’s rate-setting committee, known as Copom, raised its benchmark Selic interest rate to 13.25%,…
MEXICO CITY (Reuters) – The United States and Mexico are working through disputes involving American companies in the Mexican energy sector worth more than an estimated $30 billion in investment, the U.S. ambassador to the country said on Wednesday. In an interview with Reuters, Ambassador Ken Salazar said his government was making progress in resolving…
