Tag: POL
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Analysis: Mexico president puts unity first to broker compromise in succession race
MEXICO CITY, June 8 (Reuters) – Mexican President Andres Manuel Lopez Obrador this week intervened in the increasingly fractious race to succeed him, a move party insiders said was aimed at warding off potential division and protecting the commanding political power base he has built. Under pressure for months from Foreign Minister Marcelo Ebrard to ... -
Tesla considering building automotive investment in Spain – source
MADRID, June 8 (Reuters) – U.S. electric car manufacturer Tesla (TSLA.O) is in talks with the leaders of the regional government of Valencia in Spain to make an automotive investment, a source close to the discussions has told Reuters. A spokesperson for Valencia’s regional government told Reuters it had held meetings and conversations with an ... -
Morning Bid: Canadian cloud, rates markets checked
A look at the day ahead in U.S. and global markets from Mike Dolan Wildfire smoke wasn’t the only cloud from Canada that drifted over the United States this week. The Bank of Canada’s resumption of interest rate rises after a four-month pause blurred the horizon for Federal Reserve policy somewhat too, reminding markets that ... -
UK’s Sunak, Biden to focus on deepening economic ties at White House meeting
WASHINGTON, June 8 (Reuters) – U.S. President Joe Biden and UK Prime Minister Rishi Sunak will focus on deepening close economic ties between the United States and Britain when they meet at the White House on Thursday, with Russia’s war in Ukraine another big topic for the NATO allies. U.S. and British officials said the ... -
End of ‘Zero Covid’ fails to boost German investment in China – survey
BERLIN, June 8 (Reuters) – China’s decision to abandon its strict “zero-COVID” policy has not sparked a rebound in German firms’ plans to invest there as a sluggish recovery and geopolitical tensions weigh on the business outlook, a survey showed on Thursday. Some 55% of German companies plan to further invest within the next two ... -
Nigeria central bank allows naira to weaken 2% to record low
ABUJA, June 7 (Reuters) – Nigeria’s central bank allowed the naira to drop about 2% on the official market to a record low on Wednesday, but the currency’s rate remained above where it trades at central bank auctions and on the black market. Nigeria is trying to find a way to unify its multiple exchange ... -
Ukraine’s foreign currency reserves hit a new 11-year high
KYIV, June 6 (Reuters) – Ukraine’s foreign currency reserves grew to a new 11-year high of $37.3 billion as of June 1 thanks to financial aid from Western partners, the central bank said on Tuesday. “International reserves rose thanks to stable and rhythmic inflows from international partners, which exceeded the net sale of currency by ... -
Australia’s current account surplus widens in Q1, small drag on GDP
SYDNEY, June 6 (Reuters) – Australia’s current account surplus widened in the March quarter, helped by strong exports of resources and travel services, with net exports proving to be a much smaller drag on growth than first thought. Data from the Australian Bureau of Statistics on Tuesday showed the current account surplus widened to A$12.3 ... -
Biden admin. moves to nix US states’ challenge to ESG investing rule
June 5 (Reuters) – The Biden administration has asked a federal judge to toss out a lawsuit by Republican-led states seeking to strike down a rule allowing socially-conscious investing by employee retirement plans. The U.S. Department of Justice in a filing in Amarillo, Texas federal court on Friday said the rule was needed to replace ... -
UK fines broker $21 mln for ‘cum-ex’ European tax scam
LONDON, June 5 (Reuters) – Britain’s Financial Conduct Authority (FCA) has fined broker ED&F Man Capital Markets Ltd (MCML) 17.2 million pounds ($21.35 million), its largest penalty yet in connection with Europe’s ‘cum-ex’ tax scam. The cum-ex trading scheme, which flourished after the 2008 global financial crisis, involved banks and investors swiftly dealing shares around ...
