By Valentine Hilaire MEXICO CITY (Reuters) – Mexican investment firm JLL Capital, whose Honduran operation has been blocked since 2018 in a local dispute, is seeking some $380 million from the Central American country in arbitration proceedings, claiming that it violated foreign investment protections, documents reviewed by Reuters show. The case was triggered in January…
By Howard Schneider (Reuters) – Despite a year of aggressive rate increases U.S. central bankers “haven’t made much progress” in returning inflation to their 2% target and need to move interest rates higher still, Federal Reserve Governor Christopher Waller said on Friday. Important measures of underlying inflation have “basically moved sideways with no apparent downward…
By Ahmad Ghaddar LONDON (Reuters) – European Union and G7 restrictions on Russian oil exports led to a global shift in oil flows, with Asian refiners soaking up discounted Russian crude, in part explaining the recent OPEC+ decision to curtail output further, the West’s energy watchdog said on Friday. With the arrival of over three…
(Reuters) – Loblaw Companies Ltd on Friday said it would spend C$2 billion ($1.50 billion) to expand its business in 2023 and create more than 6,000 new jobs in retail, supply chain, technology and construction in Canada. The Canadian retailer’s investment comes at a time when it is seeing strength in its pharmacy business, as…
By Jonathan Landay, Idrees Ali and Arshad Mohammed WASHINGTON (Reuters) -The latest U.S. intelligence leak illustrates a paradox of spycraft: keeping secrets means limiting their distribution but protecting against dangers like another Sept. 11, 2001, attack means sharing them. Balancing those twin demands is a key challenge for U.S. President Joe Biden as his administration…
BENGALURU (Reuters) -Reliance Industries Ltd’s Viacom18 will receive an investment of 43.06 billion rupees ($527.84 million) from Bodhi Tree, about 70% less than what was planned by the joint venture between James Murdoch and a former Star India executive. Viacom18 said in a statement late on Thursday that Reliance was now leading the investment in…
By Chen Lin and Victoria Waldersee SINGAPORE/BERLIN (Reuters) -Tesla Inc on Friday slashed prices for its electric vehicles in Europe, Israel and Singapore, expanding a global discount drive it began in China in January while raising concerns about its industry-leading profit margin. Tesla last week reported first-quarter deliveries up just 4% from the previous quarter…
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s net interest income (NII). Shares of PNC were up nearly 3% in premarket trading after upbeat results. They fell about 20% last quarter, which was marred…
By Howard Schneider ATLANTA (Reuters) – One more quarter-percentage-point interest rate hike can allow the Federal Reserve to end its tightening cycle with some confidence inflation will steadily return to the U.S. central bank’s 2% target, Atlanta Fed President Raphael Bostic said. Recent inflation data, including this week’s reports of slowing consumer price increases and…
By Dominique Patton BEIJING (Reuters) – China’s agriculture ministry issued a three-year action plan on Friday to reduce soymeal use in animal feed as it tries to reduce its heavy reliance on soybean imports. The new plan proposes soymeal ratios in animal feed should be reduced to less than 13% by 2025, from 14.5% in…
