BEIJING (Reuters) – China’s factory-gate inflation rose more slowly than expected in December as the government took steps to contain lofty raw material prices, official data showed on Wednesday. The producer price index (PPI) climbed 10.3% from a year earlier, the National Bureau of Statistics (NBS) said in a statement. Economists in a Reuters poll…

MEXICO CITY (Reuters) -Mexican carrier Aeromexico on Tuesday said its creditors have overwhelmingly approved the company’s restructuring plan as part of its efforts to emerge from bankruptcy. Aeromexico said in a statement that the voting ended on 7 Jan. and 86% of the creditors who voted backed the plan. “The conclusion of the voting process…

By David Henry NEW YORK (Reuters) – Citigroup Inc will exit its Citibanamex consumer banking business in Mexico, the bank said on Tuesday ending its 20-year retail presence in the country that was the last of its overseas consumer businesses. Citigroup’s decision to sell or spin off Citibanamex, Mexico’s third biggest bank by assets as…

By Jonathan Stempel (Reuters) – World Wrestling Entertainment Inc was sued on Tuesday by a smaller rival that accused it of violating federal antitrust law by monopolizing the professional wrestling market. MLW Media LLC accused WWE and its Chief Executive Vince McMahon of threatening content partners for doing business with MLW, to help protect its…

(Reuters) – Walgreens Boots Alliance and CVS Health Corp have cut paid sick leave for workers who test positive for COVID-19, aligning their policies to a change in U.S. health guidance, the companies said on Tuesday. The U.S. Centers for Disease Control and Prevention updated its recommendations that people should isolate for five days after…

By Kantaro Komiya TOKYO (Reuters) – Premium telescopes, violin bows and speciality paper are bucking a deflationary trend that has defined Japan for decades – all have had their prices hiked by companies confident they can charge more without losing business. Years of stagnant prices and wages have made Japan Inc nervous about charging more…

By David Henry NEW YORK (Reuters) -Citigroup Inc will exit its Citibanamex consumer banking business in Mexico, ending a two-decade-long retail effort that was the last of its consumer banking ventures outside the United States, the bank said on Tuesday. Citi said it intends to focus its consumer banking business on global wealth as well…

By Arathy Somasekhar (Reuters) – Oil soared nearly 4% on Tuesday, supported by tight supply and expectations that rising coronavirus cases and the spread of the Omicron variant will not derail a global demand recovery. Brent crude gained $2.85, or 3.5%, to $83.72 a barrel, its highest settlement since early November. The global benchmark dropped…

By Koh Gui Qing NEW YORK (Reuters) – U.S. stocks bounced and Treasury yields retreated on Tuesday in choppy trade as investors absorbed remarks from the Federal Reserve that interest rates are likely to rise this year, as expected. In comments to U.S. lawmakers, Federal Reserve Chairman Jerome Powell said he expected the Fed would…

By Sinéad Carew (Reuters) – U.S. stock indexes gained ground on Tuesday with Nasdaq leading the advance as investors appeared relieved that Federal Reserve Chair Jerome Powell’s testimony to Congress did not include any major surprises. Federal Reserve Chair Jerome Powell, in a congressional hearing that pointed to his likely confirmation for a second term…