Business

Argentina hikes interest rate 550 bps after inflation overshoots

Argentina’s central bank hiked the country’s benchmark interest rate 550 basis points to 75% on Thursday, a day after inflation overshot forecasts to near 80% on an annual basis. The hike followed a 950 basis points-raise in August of the 28-day Leliq benchmark rate, as the government tries to bring down spiraling prices that are […]

Business

More Manhattan workers returning to office – survey

Nearly 50% of Manhattan office workers are expected to return by the end of 2022 as efforts by financial, real estate and law firms and other employers to bring workers back more than two years after the start of the coronavirus pandemic gain traction, a survey released on Thursday said. New York, one of the […]

Business

Dollar inches up vs yen as investors expect Fed will stay aggressive

The dollar was slightly higher against the yen on Thursday following data showing U.S. retail sales unexpectedly rebounded in August, while the Swiss franc hit its strongest against the euro since 2015. The dollar pared some gains following the data, which showed retail sales increased 0.3% last month, but demand for goods is cooling as […]

Business

U.S. House Democrats probe PR firms’ work for oil, gas companies

Public relations firms go beyond their traditional task of marketing to help their oil and gas clients fight off climate policies and mislead the public about climate change, U.S. congressional Democrats said at a hearing on Wednesday. The House Natural Resource Committee’s oversight panel, led by U.S. Representative Katie Porter of California, held a hearing […]

Business

Barclays: $7 bln worth of securities sold in error have been claimed

Barclays (BARC.L) said investors have submitted claims for $7 billion out of $17.7 billion worth of securities it sold in error, under the terms of a so-called rescission offer by which the bank had to buy back the notes and compensate buyers. The British bank said it was evaluating the overall financial impact of the […]

Business

Porsche IPO to comprise 911 million shares in nod to its most famous model

Volkswagen’s (VOWG_p.DE) supervisory board is due to meet on Sunday to move forward with the IPO of its Porsche brand, which will comprise 911 million shares in a nod to its most famous model, two sources close to matter said. Details on the price range, valuation and confirmed cornerstone investors are likely to be announced […]

Business

UK watchdog wants deeper probe into Microsoft’s $69-bln Activision deal

Britain’s antitrust watchdog said on Thursday it would launch an in-depth probe into Xbox maker Microsoft’s (MSFT.O) $69-billion purchase of “Call of Duty” maker Activision Blizzard (ATVI.O) after the tech giant failed to offer remedies to soothe competition concerns. The deal, announced in January, will require approval in the United States as well as other […]