Business News

Fed policymakers see one U.S. rate hike, or none, as growth slows

BIRMINGHAM, Ala./SAN FRANCISCO (Reuters) - When the Federal Reserve last month adopted a new “patient” approach to monetary policy, it gave no specific guidance about how long its policy pause would last, or how many more interest-rate increases, if any, were in the offing. This week, as disappointing U.S. retail sales and industrial production data raised the prospect that the U.S. economy will slow more quickl...

15 Feb 10:59 PM 0 Read More...

U.S.-China trade talks to resume next week, Trump hints at extension

BEIJING/WASHINGTON (Reuters) - The United States and China will resume trade talks next week in Washington with time running short to ease their bruising trade war, but U.S. President Donald Trump repeated on Friday that he may extend a March 1 deadline for a deal and keep tariffs on Chinese goods from rising. Both the United States and China reported progress in five days of negotiations in Beijing this week. Trump,...

15 Feb 10:59 PM 0 Read More...

Mexico to inject $3.9 billion in Pemex, seeks to prevent credit downgrade

MEXICO CITY (Reuters) - Mexico will inject $3.9 billion into ailing state oil company Pemex, officials said on Friday, promising to strengthen its finances and prevent a further credit downgrade, although investors saw the plan as only a short-term fix. Falling oil output, corruption and high labor costs have contributed to the decline of the company that was once a symbol of national pride. It now holds roughly $106...

15 Feb 10:59 PM 0 Read More...

Analyst View: Investors divided over Mexico's bailout of state oil company

MEXICO CITY (Reuters) - The Mexican government promised on Friday to do what it takes to strengthen the finances of ailing state oil company Petroleos Mexicanos with an injection of at least $3.6 billion to prevent a further credit downgrade. Investors were divided over whether the plan, which includes previously announced measures as well as tax cuts and refinancing some of the firm’s roughly $106 billion in finan...

15 Feb 10:59 PM 0 Read More...

Mexico will do 'whatever it takes' to prevent Pemex downgrade

MEXICO CITY (Reuters) - Mexico will inject $3.6 billion into ailing state-owned oil company Pemex, including by reducing taxes and refinancing debt, officials said on Friday, promising to do “whatever is takes” to strengthen its finances and prevent a further credit downgrade. Falling oil output, corruption and high labor costs have contributed to the decline of the company that was once a symbol of national prid...

15 Feb 5:54 PM 0 Read More...

Progress in U.S.-China trade talks sparks world stock rally

NEW YORK (Reuters) - Progress in the U.S.-China trade talks helped send world stock markets broadly higher on Friday and pulled investors out of the safety of government bonds. Europe’s broad Stoxx 600 index rallied 1.4 percent. In midday trading on Wall Street, the Dow Jones Industrial Average rose 359.04 points, or 1.41 percent, to 25,798.43, the S&P 500 gained 24.12 points, or 0.88 percent, to 2,769.85 and ...

15 Feb 5:54 PM 0 Read More...

Sputtering auto production sinks U.S. manufacturing output

WASHINGTON (Reuters) - U.S. manufacturing fell sharply in January, led by the biggest drop in motor vehicle production since the recession, the latest indication that the economy was losing momentum. The Federal Reserve’s report on Friday came on the heels of data on Thursday showing retail sales tumbling by the most in more than nine years in December. The string of weak reports together with tame inflation are su...

15 Feb 5:54 PM 0 Read More...

Trust in tailings? Vale dam disaster spurs investors into action

LONDON (Reuters) - Seeking assurances from Brazilian miner Vale by phone after a second deadly dam disaster in three years is not enough for Sasja Beslik. He plans to fly there himself to get answers. Beslik, head of sustainable finance at Swedish bank Nordea, blocked the bank’s investment managers from buying any more Vale shares on Jan. 26, the day after a dam filled with mining waste burst its banks, killing hun...

15 Feb 5:54 PM 0 Read More...

Risk of U.S. corporate recession rises as earnings outlook dims

LONDON (Reuters) - The outlook for Wall Street earnings has deteriorated significantly in recent months, data shows, raising the risk that companies in the United States may slip into recession before its economy does - with Europe close behind. Analysts on average expect the S&P 500’s first-quarter earnings per share to drop 0.3 percent year-on-year, according to I/B/E/S Refinitiv data. That’s a big drop fr...

15 Feb 5:54 PM 0 Read More...

European shares climb after progress in U.S.-Sino trade talks

LONDON (Reuters) - European shares rose on Friday amid encouraging signs from U.S.-China trade talks, after weak data from both countries sent world stocks into a dive. Europe’s STOXX 600 gained 0.8 percent, with German equities staging a strong recovery from early losses. Talks between China and the United States this week made important progress, President Xi Jinping told top U.S. trade negotiators, and efforts ...

15 Feb 12:49 PM 0 Read More...