Controlador de mexicana AHMSA acuerda ceder mayoría accionaria por 200 mln dlr

CIUDAD DE MÉXICO, 2 mar (Reuters) – Grupo Acerero del Norte, que controla a la siderúrgica Altos Hornos de México (AHMSA), acordó entregar su participación mayoritaria a un grupo de inversionistas extranjeros por un monto inicial de 200 millones de dólares, informó el jueves la compañía. La transacción, que irrigará con recursos frescos a la …

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Nordstrom to wind down Canadian business, expects weak annual revenue

By Ananya Mariam Rajesh (Reuters) -Nordstrom Inc said on Thursday it would discontinue its Canadian operations and forecast annual revenue below analysts’ expectations, signaling high inflation levels were dampening consumer spending on discretionary items. The decision to wind down the operations would result in about a $400 million decline in total net sales in fiscal …

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India’s Adani group gets $1.87 billion investment from U.S. firm GQG

By Navamya Ganesh Acharya, Carolina Mandl and Echo Wang BENGALURU/NEW YORK (Reuters) -U.S. boutique investment firm GQG Partners Inc has bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller’s critical report sparked a stock rout. Seven listed Adani companies have lost some …

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Brazil central bank greenlights Meta’s WhatsApp merchant payment system

SAO PAULO (Reuters) – Brazil’s central bank on Thursday approved Meta Platforms’ payments launch for small and medium-sized business in Brazil via its messaging application WhatsApp, building on the app’s existing local peer-to-peer payment system. The approval comes as Meta seeks to use the Brazilian market as a key test space for business messaging, an …

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Costco misses quarterly revenue estimates as demand slows for discretionary goods

By Granth Vanaik (Reuters) -Costco Wholesale Corp missed second-quarter revenue estimates on Thursday, as consumers turned frugal on discretionary spending amid persistently high inflation, sending its shares down about 3% in after-hours trading. Major U.S. big-box retailers are seeing a slowdown in demand for discretionary items such as toys, electronics and home goods as higher …

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AI boost lifts Broadcom forecast amid lingering enterprise weakness

By Chavi Mehta (Reuters) -Broadcom Inc forecast second-quarter revenue above estimates on Thursday, as increased investments in artificial intelligence spur demand for its chips used in data centers. In a deteriorating economy, where both consumer and enterprise spending is on a decline, AI has emerged as a bright spot for chip firms such as Nvidia …

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Biden says he would sign Republican bill overturning Washington, DC, crime laws

By Moira Warburton and David Morgan WASHINGTON (Reuters) -President Joe Biden said on Thursday he would sign a Republican-led bill that would overturn recent changes to Washington, D.C.’s laws which lowered penalties for some crimes, should it pass in the U.S. Senate. “I support D.C. statehood and home rule, but I don’t support some of …

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ECB’s Wunsch: Rate of 4% can’t be excluded if core inflation stays high

BRUSSELS (Reuters) – The European Central Bank could consider raising its key interest rate as high as 4% if underlying inflation in the euro zone remains persistently high, ECB Governing Council member Pierre Wunsch said in comments embargoed until Friday. “If the core inflation would remain at the level we see today in Europe of …

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