Reuters USA

NEW YORK (Reuters) – U.S. consumer spending rebounded sharply in January amid strong income growth, while inflation accelerated, which could add to financial markets fears that the Federal Reserve could continue raising interest rates through summer. The personal consumption expenditures (PCE) price index, tracked by the Federal Reserve for monetary policy, shot up 0.6% last …

U.S. inflation accelerates in January, consumer spending surges Read More »

(Reuters) – Cleveland Federal Reserve President Loretta Mester said on Friday that she was keeping to her previous forecast made at the end of last year for the U.S. central bank’s interest rate peak as economic data since then has not caused her to change her mind. “I had my funds rate a little bit …

Fed’s Mester sticks with December interest rate projection for now Read More »

By Michael S. Derby NEW YORK (Reuters) – Two Federal Reserve regional bank measures that map bond yields to the economic outlook still put better-than-even chances of a U.S. recession by next year, even as recent gauges of activity in everything from consumer spending to hiring show little evidence of a pending slowdown. A Cleveland …

Two Fed measures see notable recession risk despite strong data Read More »

MEXICO CITY (Reuters) – Mexico’s FEMSA posted a 28% fall in fourth-quarter net profit Friday to 4.82 billion pesos ($247 million) as the dollar-dominated bottler and retailer was hurt by appreciation of the peso. It posted a 23% rise in revenue to 186.47 billion Mexican pesos, topping the 178.10 billion forecast by analysts, Refinitiv Eikon …

Mexico’s FEMSA posts 28% profit fall hurt by peso strength Read More »

BRASILIA (Reuters) – Foreign direct investment in Brazil reached its highest level for January in five years, according to central bank data on Friday, continuing a trend of strong results since last year. FDI totaled $6.9 billion in January, best since 2018, when it reached $8.3 billion. However, this was slightly below the $7.1 billion …

Foreign direct investment in Brazil posts best January in 5 years Read More »

By Arshad Mohammed SAINT PAUL, Minn. (Reuters) – The United States plans to announce $250 million in aid on Friday to shore up Ukraine’s energy infrastructure in the face of Russian attacks and $300 million for Moldova, partly to help Chisinau wean itself from energy dependence on Russia. The aid, described in draft documents seen …

Exclusive-U.S. plans $550 million aid for Ukraine, Moldova energy security Read More »

By Trevor Hunnicutt WASHINGTON (Reuters) – Vice President Kamala Harris is expected to offer a defense of the abortion drug mifepristone in a meeting on Friday, according to a White House official, as some activist groups work to end U.S. sales of the pill. Anti-abortion groups have brought cases against the U.S. Food and Drug …

U.S. VP Harris to defend abortion pill facing legal attack Read More »

By Joshua Schneyer, Kristina Cooke and Mica Rosenberg NEW YORK (Reuters) – South Korean automaker Hyundai Motor Co on Friday told shareholders that it would divest its controlling stake in a major Alabama auto parts plant where Reuters last year documented children as young as 12 were working. In a Feb. 24 letter to shareholders …

Exclusive-Hyundai to divest Alabama subsidiary following child labor revelations Read More »

By Steve Gorman LOS ANGELES (Reuters) – Harvey Weinstein, the onetime Hollywood titan who came to epitomize a culture of pervasive sexual misconduct by powerful men that ignited the #MeToo movement, was sentenced on Thursday to 16 years in prison for the 2013 rape of an actress in Los Angeles. The sentence, to run consecutively …

Ex-producer Harvey Weinstein sentenced to 16 years on L.A. rape conviction Read More »