IMF’s Georgieva to press for quicker action on debt relief with China

By Andrea Shalal NEW YORK (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that she will travel to Beijing next week with heads of other international institutions to press for quicker action on debt relief for poor and developing countries. The meetings with the country’s leadership will focus on China’s economic, COVID-19 …

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World Bank’s Malpass: Bill for rebuilding Ukraine rising, not detecting donor fatigue

NEW YORK (Reuters) – World Bank President David Malpass on Thursday said the expected cost for rebuilding Ukraine will go up “quite a bit” from the roughly $350 billion estimated earlier this year, given Russia’s targeting of Ukraine’s electricity grid and other infrastructure. He told the Reuters NEXT conference that he did not detect any …

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Intel staff in Ireland offered unpaid leave in cost-cutting drive – Business Post

(Reuters) – Up to 2,000 staff at Intel Corp’s Irish operation have been offered three months’ unpaid leave as part of cost-cutting measures, the Business Post reported on Thursday. According to the report, workers at Intel’s manufacturing division have been offered the unpaid leave as part of a “voluntary time off” program which is being …

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Biden says can ‘tweak’ inflation act to include European countries

By Michel Rose, Jeff Mason and Jarrett Renshaw WASHINGTON (Reuters) – U.S. President Joe Biden said that new laws that give incentives for domestic production of computer chips and renewable energy parts were never intended to exclude European allies and could be tweaked. Speaking with French President Emmanuel Macron at a joint press conference at …

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Critical to ‘front-load’ aid to Ukraine as costs rise – IMF’s Georgieva

By Andrea Shalal NEW YORK (Reuters) -Damage from Russian attacks on Ukraine’s infrastructure are increasing the amount of aid the country needs “front-loaded” ahead of the harsh winter months, the head of the International Monetary Fund said on Thursday. IMF Managing Director Kristalina Georgieva told the Reuters NEXT conference she was confident international partners would …

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VW confirms looking in Canada to build first North America cell plant

By Jan Schwartz BERLIN (Reuters) -Volkswagen has begun searching for a site for the German carmaker’s first battery cell factory in North America, its CEO announced on Thursday. Confirming an earlier Reuters story, Volkswagen CEO Oliver Blume and Canadian industry minister Francois-Philippe Champagne signed an addendum to their existing memorandum of understanding from August, agreeing …

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Muddy Waters doubles down on allegations of dLocal balance sheet discrepancies

(Reuters) -Hedge fund Muddy Waters repeated its stance that Uruguayan payments firm dLocal’s <DLO.O> books showed numerous discrepancies, adding in a note Thursday it was “more convinced than before” that dLocal had used client funds to pay a special dividend to its shareholders from before its initial public offering (IPO). Since the allegations from Muddy …

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