Category: Economy
-
US ‘buy now, pay later’ splurges raise holiday debt hangover risk
By Lisa Baertlein and Arriana McLymore LOS ANGELES/NEW YORK (Reuters) -Roxanne Ross of Florida is one of a growing number of Americans dodging higher interest rates on credit cards by instead turning to “buy now, pay later” services as they shop for holiday merchandise. Ross has her eyes on the latest Apple AirPods for $249.…
-
Egypt raises $800 million from hotels in divestment drive – PM
By Patrick Werr CAIRO (Reuters) -Egypt’s sovereign wealth fund has signed an $800 million deal to sell a stake in seven prominent hotels to Egypt’s Talaat Moustafa Group (TMG) in its drive to raise funds and foreign currency, Prime Minister Mostafa Madbouly said on Wednesday. Revenues from selling stakes in state assets have reached $5.6…
-
Goodbye, maybe, to the ‘great inflation scare’: World Bank blog
(Reuters) – The sharp rise in inflation that forced global central banks to drive up interest rates at the fastest pace in decades looks poised to continue to subside in coming months, though risks persist, World Bank economists said in a blog to be published Monday. Global demand is expected to moderate amid higher borrowing…
-
Germany lifts spending freeze after budget deal clinched, document shows
BERLIN (Reuters) – Germany’s finance ministry has lifted a freeze on new spending that was imposed more than three weeks ago, according to a letter seen by Reuters on Thursday. The move comes a day after Germany’s government clinched a last-minute deal on its 2024 budget following weeks of tense talks. The letter dated Dec.…
-
Explainer-What does Argentina’s ‘shock therapy’ economic package involve?
By Valentine Hilaire (Reuters) – Argentina’s government under libertarian President Javier Milei has unveiled a “shock therapy” economic plan, a radical and likely painful blueprint to stabilize the South American country’s economy which faces its worst crisis in decades. The plan included a devaluation of the peso currency by more than 50%, which took effect…
-
Moody’s sees negative outlook for Latin American companies on high rates, low growth
BOGOTA (Reuters) – Non-financial industry companies in Latin America are facing a negative outlook for next year because of continued high interest rates, slow regional economic growth and projected low prices for commodities because of a deceleration in China, Moody’s said on Wednesday. The ratings agency said that though credit conditions for Latin American companies…
-
Health insurer Centene raises 2024 profit forecast
By Khushi Mandowara (Reuters) -U.S. health insurer Centene Corp on Tuesday raised its 2024 adjusted profit forecast, bringing it broadly in line with Wall Street expectations, mainly due to higher premiums and expansion of its Medicaid business in two states. The company’s shares rose nearly 4% after it also added $4 billion to its buyback…
-
French central bank sees fourth quarter growth of 0.1%
PARIS (Reuters) – The French economy will manage to just barely grow in the final quarter of this year, boosted by service sector activity, the French central bank estimated on Monday. The euro zone’s second-biggest economy is on course to eke out 0.1% growth from the third quarter, when it contracted by an unexpected 0.1%,…
-
California high-speed rail faces challenges after US award
By David Shepardson (Reuters) – California’s ambitious high-speed rail project that aims to move travelers from San Francisco to the Los Angeles basin in under three hours still faces significant funding challenges despite a $3.1 billion federal award. The White House on Friday announced $8.2 billion in federal funding for rail projects across the country,…
-
U.S. household net net worth falls for first time in a year
(Reuters) -U.S. household wealth fell to roughly $151 trillion in the third quarter, pulled down by a drop in the value of stocks which more than offset a half-trillion rise in the value of property prices, the Federal Reserve said on Thursday. Household net worth fell about 1% in the period from July through September…