Fitch downgrade highlights investor worries about US fiscal picture
By Susan Mathew and Saeed Azhar (Reuters) -Fitch’s downgrade of the U.S. credit rating is likely to exacerbate unease about…
Japan’s service activity growth softens in July – PMI
TOKYO (Reuters) – Japan’s service sector activity expanded at a slightly slower pace in July as new business growth eased…
Phillips 66 joins rival refiners with sharp profit drop on lower margins
By Arunima Kumar (Reuters) – Phillips 66 reported a 46% fall in second-quarter profit on Wednesday, the latest U.S. refiner…
Dollar to remain steadfast in coming months, say FX strategists: Reuters poll
By Indradip Ghosh BENGALURU (Reuters) – The U.S. dollar will hold its ground against most major currencies over the coming…
Colombia’s central bank cuts 2023 forecasts for inflation, growth
BOGOTA (Reuters) -The technical team of Colombia’s central bank on Wednesday lowered its outlook for inflation in 2023 to 9%,…
Yum Brands gets a lift as KFC’s cheaper options draw more customers
By Deborah Mary Sophia (Reuters) -Yum Brands on Wednesday beat estimates for quarterly comparable sales and profit as strong demand…
Brazil central bank kicks off rate cuts more aggressively than expected
By Peter Frontini SAO PAULO (Reuters) -Brazil’s central bank kicked off its rate-cutting cycle more aggressively than expected on Wednesday,…
GM JV battery firm rejects including Ohio workers under national agreement
By David Shepardson (Reuters) – A General Motors LG Energy Solution battery joint venture on Wednesday said it does not…
Fitch downgrades Fannie Mae, Freddie Mac after US rating cut
(Reuters) -Ratings agency Fitch on Wednesday downgraded U.S. mortgage finance giants Fannie Mae and Freddie Mac Long-Term Issuer Default Ratings…
Wall Street ends down, investors step back after Fitch US rating cut
By David French (Reuters) -Wall Street finished lower on Wednesday, with the S&P 500 and Nasdaq Composite down for a…