By Elias Biryabarema KAMPALA (Reuters) -Uganda’s central bank cut its main lending rate on Tuesday for the first time in more than two years, saying it aimed to boost economic growth after inflation fell faster than expected. The cut in the Central Bank Rate (CBR) to 9.5% from 10.0% came after inflation fell to 3.9%…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in goods widened sharply to a record high in January amid an increase in imports as businesses continued to replenish depleted inventories. The pace of inventory accumulation reported by the Commerce Department on Monday was, however, slower than in recent months. That, together with the…
By Caroline Valetkevitch NEW YORK (Reuters) – The dollar rallied against the yen, euro and other currencies on Tuesday after stronger-than-expected U.S. inflation data boosted investor bets that the Federal Reserve will need to stay aggressive in raising interest rates. The dollar index, which tracks the greenback against its peers, was up 1.5% at 109.85…
By Brendan Pierson (Reuters) – Two U.S. military veterans on Thursday sued 3M Co to block its planned spinoff of its healthcare business, which they called an illegal attempt to avoid compensating veterans for hearing damage caused by the company’s military-issue earplugs. The veterans said in a lawsuit in federal court in Pensacola, Florida, that…
By David Shepardson and Heekyong Yang WASHINGTON/SEOUL (Reuters) – Georgia Governor Brian Kemp will announce on Friday that Hyundai Motor Group is investing more than $7 billion in the state, an announcement coinciding with a visit by President Joe Biden to Seoul, sources told Reuters. The South Korean auto group, which houses Hyundai Motor Co…
By Andrey Sychev and Bartosz Dabrowski (Reuters) – Linde, the world’s largest industrial gases company, said on Thursday it sees potential to invest more than $50 billion worldwide in the next 10 years as governments turn to green energy. That includes potential investments of more than $30 billion in the United States, which the company…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar eased for a third straight day on Tuesday, pulling back from a two-decade high against a basket of major peers, as an uptick in investors’ appetite for riskier bets diminished the U.S. currency’s safe-haven appeal. Upbeat earnings views from Home Depot and United Airlines along…
By Elizabeth Pineau, Noemie Olive and Ingrid Melander PARIS (Reuters) -French President Emmanuel Macron’s flagship pension reform will enter into force swiftly, officials said on Friday after it received the Constitutional Council’s approval despite months of street protests and strikes. The legislation, which pushes up the age at which one can draw a pension to…
MILAN (Reuters) – Stellantis has invested in Lyten to help the U.S. startup develop applications for lithium-sulfur EV batteries, lightweight composites and on-board sensing solutions, the two companies said on Thursday. The investment, through Stellantis’ venture capital arm Stellantis Ventures, aims to help the world’s third largest carmaker by sales simplify its supply chain and…
By Liz Hampton (Reuters) -Scott Sheffield, who built U.S. oil producer Pioneer Natural Resources into the largest producer in Texas, will retire at the end of the year, the company said on Wednesday. His departure likely will reignite perennial Wall Street talk that the Dallas-based company could become a takeover target. With its $52 billion…
