Author: Press Room
2/2 © Reuters. A street seller shows Cuban pesos in downtown Havana, Cuba, October 13, 2022. REUTERS/Alexandre Meneghini 2/2 (Reuters) – Senior Cuban officials have over several weeks provided an increasingly dire snapshot of a deepening economic crisis in a series of televised prime-time appearances, revealing the extent of the downturn in unprecedented detail. Minister after minister have delivered the bad news as the import-dependent Communist-run country weathers a fourth year of crisis, scraping by with a minimum of foreign exchange as output plummets. Food production, the supply of phamaceuticals and transportation are down by at least 50% since 2018,…
Boeing’s commercial aircraft sales to China have slowed to a trickle as U.S.-Chinese relations have soured. But there are new prospects for the company to regain traction.A meeting this month between President Biden and President Xi Jinping of China did not yield public progress toward resuming plane sales, but it may ease tensions between the two countries, boding well for Boeing, a giant of American manufacturing. Perhaps more important, Boeing and China still need each other.“There’s lots of incentives for everyone to do a deal here,” said Eddy Pieniazek, head of advisory at Ishka, an aviation consulting firm. “A lot…
LISBON, PORTUGAL – 2023/11/14: Kuo Zhang, President at Alibaba.com, addresses the audience during … [+] the first day of the Web Summit 2023 in Lisbon. (Photo by Bruno de Carvalho/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Chinese e-commerce and cloud behemoth Alibaba stock declined by about 6% over the last week and also remains down by 12% year-to-date, considerably underperforming the broader tech indices. There have been a couple of developments for Alibaba in recent weeks. Firstly, the company posted a relatively mixed set of Q2 FY’24 results. While revenue missed estimates, rising 9% year over year to…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Rio Tinto has agreed to pay a $28mn penalty to the US Securities and Exchange Commission to settle a suit over a failed $3.7bn coal deal in Mozambique more than a decade ago.The settlement brings to an end a long-running series of legal disputes over whether Rio Tinto intentionally misled investors over the disastrous investment, which cost former chief executive Tom Albanese his job.In 2017, the UK Financial Conduct Authority fined the company £27.4mn over the deal, which at that time was…
2/2 © Reuters. FILE PHOTO: A firefighter works to extinguish the Highland Fire, a wind driven wildfire near Aguanga, California, U.S., October 31, 2023. REUTERS/Mike Blake/File Photo 2/2 (This story has been corrected to fix the attribution from GRAPHIC to ANALYSIS) By Mark John (Reuters) – Ahead of international climate talks in Dubai this month, economists are updating estimates of the impact of global warming on the world economy, sometimes calculating down to a decimal place the hit to output in decades to come. But detractors say those numbers are the product of economic models that are not fit…
© Reuters. Investors interested in Carter’s (NYSE:) upcoming dividend payout must acquire shares before Nov 27 to be eligible for the distribution scheduled for Dec 8, which is set at $0.75 per share. The company’s current stock price of $67.55 reflects an annual yield of approximately 4.4%, with an aggregate annual payment reaching $3.00 per share. The dividend appears sustainable, as it is well-covered by profits and cash flow, with a moderate profit allocation of 55% and minimal free cash flow usage at 25%. Despite an average annual earnings decrease of -2.7%, Carter’s has maintained a robust average annual dividend…
© Reuters. FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/File Photo By Ahmad Ghaddar LONDON (Reuters) -An OPEC technical panel invited a top financial market dealer to give a presentation this week which painted a bearish outlook for the oil market, according to materials from the presentation seen by Reuters. “Market sentiment had been fragmented for much of this year, but the evidence is that there has been a recent shift in collective sentiment to bearish as we head towards the end of the calendar year,” one of the presentation slides by Onyx Capital Group…
Expro secures the largest surface well testing operation contract in Norway
© Reuters. The exchange rate surged to an eleven-week peak, reaching CA$1.7220 on Tuesday, following hawkish comments from Bank of England (BoE) officials and expectations of tax cuts. BoE Governor Andrew Bailey, during his testimony to the Treasury Select Committee, cautioned about the persistent risks of high-level inflation, while Monetary Policy Committee (MPC) member Catherine L. Mann projected ongoing wage and price pressures into 2024. On the same day, Canada reported a marginal increase in consumer prices by 0.1% for October. However, headline inflation unexpectedly dropped to 3.1%, with core inflation decreasing slightly to 2.7%. Despite a significant annual decrease…
President Biden and other administration officials said Tuesday that they welcomed the temporary cease-fire agreement between Israel and Hamas that includes the release of hostages.Qatari negotiators helped broker the deal, which included Israel’s military agreeing to temporarily stop its airstrikes and ground invasion of Gaza for humanitarian purposes. Additionally, Hamas has agreed to release dozens of hostages in tandem and Israel has agreed to release Palestinian prisoners on a 3-to-1 ratio. Hamas leaders will release one hostage for every three Palestinians that Israel releases from its prisons.Biden, Vice President Kamala Harris and Secretary of State Antony Blinken all released statements…