Author: Press Room
By Marcelo Teixeira NEW YORK (Reuters) -Mercon Coffee Group, one of the world’s largest coffee traders, has filled for bankruptcy protection in the United States due to what it defined as “exceptionally challenging operating environment”, according to a document seen by Reuters. Mercon, which has operations in all the major producing regions including Brazil, Vietnam and Central America, said in a letter sent to clients that problems in recent years such as the logistical disruption during the pandemic, frost and drought in Brazil, price volatility and rising interest rates all combined to hurt the company’s financial situation. In the letter,…
© Reuters. U.S. Treasury Secretary Janet Yellen gives a statement to the press during her visit in Mexico City, Mexico December 6, 2023. REUTERS/Daniel Becerril By David Lawder MEXICO CITY (Reuters) – The U.S. Treasury said on Thursday it signed an agreement with Mexico’s finance ministry to cooperate on strengthening screening of foreign investments to enhance national security, including regularly sharing information on best practices. The Biden administration is promoting Mexico as a premier investment destination for U.S. supply chains and wants to ensure that the country has a robust screening regime in place to handle the influx. The effort…
Win McNamee/Getty Images News Indian automakers Tata Motors and Mahindra & Mahindrais (OTC:MAHMF) are reportedly pressing Indian officials to keep import taxes on electric vehicles at their current levels in order to protect the domestic industry and its investors. The issue has increased significance with Tesla (NASDAQ:TSLA) in active negotiations with the government to qualify for lower import taxes if it enters the market. India wants Tesla (TSLA) to set up local manufacturing plant in order to qualify for an import taxes on electric vehicles as low as 15% for companies committing to some local manufacturing. However, the Indian automakers…
CNN will hold two Republican presidential debates in Iowa and New Hampshire next month in the days leading up to those states’ nominating contests, the network said on Thursday.The announcement, made a day after the fourth debate this year, comes as the Republican National Committee weighs whether to loosen its rules and allow candidates to take part in debates that it does not sponsor.The committee approved four debates this year, steadily raising the minimum thresholds for participation and pushing out lower-polling candidates.The current Republican front-runner, former President Donald J. Trump, did not attend any of the debates. His campaign did…
A Houston volunteer group has gotten 79 citations for giving away food to the homeless.The city says they’re violating an ordinance, but the group says they have a right to give out food.The group says, despite the tickets, they’re not going anywhere. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A volunteer group in Houston has gotten dozens of tickets from police while handing out food to homeless people, but they say they won’t stop doing what they’re doing.Four nights a week for about…
Labour’s shadow City minister has unveiled 10 grandees from the Square Mile to advise the party, insisting her party has long stopped “sneering at business”. Tulip Siddiq said Labour wanted to work with the banking sector and she promised to prioritise stability after the upheavals of Brexit and Covid. “We are not coming in and ripping up all the legislation,” she said. Siddiq told the Financial Times that Labour had worked hard over the past two years to eradicate memories of Jeremy Corbyn’s leftwing leadership of the party and to embrace the City.“People were worried that under the last leadership…
© Reuters. A carpenter works on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, U.S., May 5, 2021. REUTERS/Octavio Jones (Reuters) – Interest rates on the most common type of U.S. home loan fell for a sixth straight week to the lowest in almost four months on the back of a bond market rally that has driven down yields on the securities used to set mortgage costs, data out Thursday showed. Mortgage finance giant Freddie Mac said the average rate on a 30-year fixed rate mortgage fell to 7.03%…
© Reuters. Boeing’s (BA) production plans face for 737 face a two-month delay – report Boeing (NYSE:) is adjusting its production plans for the 737 narrowbody jetliner, informing suppliers of a two-month delay, Reuters reported today. The new schedule sets production at 42 jets per month starting in February 2024, instead of the initially targeted end of 2023. This adjustment is attributed to a supplier error that impacted ramp-up plans. Shares are down 1.3% on the day after initially dipping more than 2%. The subsequent rate increases are also affected, with targets of 47.2 jets a month moved from June…
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The House of Representatives is formally reprimanding Rep. Jamaal Bowman, D-N.Y., on Thursday morning over his pulling of a fire alarm earlier this year.The House voted largely along party lines, 214 to 191, to censure Bowman, who pulled the alarm despite no immediate threat of a fire in the middle of a dramatic floor vote. Three Democrats voted with Republicans to censure him – Reps. Marie Gluesenkamp Perez, D-Wash., Chris Pappas, D-N.H., and Jahana Hayes, D-Conn.Five members of the House Ethics Committee voted “present.”Lawmakers were on Capitol Hill on Saturday, Sept. 30, for an intense day of negotiation aimed at…