Bank of Mexico lowers key interest rate to 10.25%
MEXICO CITY (Reuters) – The Bank of Mexico lowered its benchmark interest rate by 25 basis points to 10.25% in a unanimous decision, it said on Thursday, its third consecutive…
Economy
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UK must keep trade open and EU close in fragmenting world, Bank of England’s Bailey says
By Andy Bruce (Reuters) – Britain should stand up for free trade and rebuild ties with the European Union as the global economy fragments, Bank of England Governor Andrew Bailey…
Exxon Mobil to cut nearly 400 jobs in Texas, filing says
DENVER (Reuters) -Exxon Mobil will cut nearly 400 jobs in Texas following its purchase of shale producer Pioneer Natural Resources (NYSE:PXD), according to a regulatory filing. The company will cut…
Barkin: Wages, possible tariffs, reasons to be careful about declaring inflation victory
WASHINGTON (Reuters) – High union wage settlements and the possibility of coming tariff increases are among the uncertainties that could make U.S. Federal Reserve officials more cautious about thinking they…
ECB divided on risk of excessively weak inflation, accounts show
FRANKFURT (Reuters) – A European Central Bank rate cut last month was seen as an insurance move against unexpectedly low inflation but policymakers appear divided on the risk of excessively…
Traders keep bets on Dec rate cut after latest US economic data
(Reuters) – Futures tied to the Federal Reserve’s policy rate edged down after data showed wholesale prices firmed a little more than expected last month, though not enough to suggest…
Sotheby’s settles New York tax fraud case, pays damages
By Jonathan Stempel NEW YORK (Reuters) -Sotheby’s will pay $6.25 million and adopt reforms to settle New York Attorney General Letitia James’ lawsuit accusing the famed auction house of fraudulently…
Coach parent Tapestry pulls $8.5 billion bid for Capri after FTC roadblock
(Reuters) -Tapestry said on Thursday it was terminating its $8.5 billion bid for Michael Kors owner Capri after a legal hurdle last month, ending their effort to create a U.S.…
Euro zone economy seen hit early next year by Trump tariffs, say economists: Reuters poll
By Indradip Ghosh BENGALURU (Reuters) – The euro zone economy will be hit with tariffs from the incoming U.S. Trump administration early next year, according to a majority of economists…
Fed’s Kugler says Fed has made good progress on achieving mandates
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve governor Adriana Kugler said Thursday the central bank has made considerable progress in working to achieve its job and inflation…