By Maxwell Akalaare Adombila and Joe Bavier SAMREBOI, Ghana (Reuters) – Surveying the stripped landscape of her farm – dotted with pools of cyanide-tainted, tea coloured waste water left by illegal gold miners – is enough to make Janet Gyamfi break down. Only last year, the 27-hectare plot in western Ghana was covered with nearly […]
Fast-food companies seeing low-income diners pare orders
By Waylon Cunningham SAN ANTONIO, Texas (Reuters) – Runaway prices at U.S. fast-food joints and restaurants have made people skittish down the income ladder and executives at chains including McDonald’s and Wendy’s recently said they worry about losing business from those on the tightest budgets. Roughly a quarter of low-income consumers, defined as those making […]
Stocks slip, bonds sidle in subdued week ahead of holiday
By Alden Bentley and Amanda Cooper NEW YORK/LONDON (Reuters) – Wall Street turned modestly lower in late trade on Tuesday, mostly in sync with subdued global share market movements, while the yen hovered near 2022 intervention levels after more official Japanese jawboning to deter shorting of the currency since last week’s monetary policy tightening. Treasury […]
Factbox-Most brokerages stick by forecast of Fed rate cuts starting in June
(Reuters) -Most major brokerages stuck by their expectations that the Federal Reserve will start lowering interest rates from June after the U.S. central bank left interest rates unchanged at its March 19-20 meeting and maintained its projection of three cuts this year. Fed Chair Jerome Powell said recent inflation readings had not changed the underlying […]
Luxury EV maker Lucid to raise $1 billion from Saudi’s PIF affiliate
(Reuters) -Lucid said on Monday it is raising $1 billion in capital from an affiliate of Saudi Arabia’s Public Investment Fund (PIF), sending the shares of the luxury electric carmaker up about 8%. The latest investment by the sovereign wealth fund underscores a key advantage Lucid has in the race for survival among struggling EV […]
FedEx soars on profit beat, improved margins in its Express unit
By Shivansh Tiwary (Reuters) -FedEx shares surged on Friday after the parcel giant beat estimates for quarterly profit and reported a higher operating margin at Express, its largest unit. Shares of the company closed 7.35% higher and added $4.86 billion to its market capitalization. Rival UPS closed 0.6% higher. With the demand environment being weak, […]
Reddit shares end trading up 48% in market debut
By Niket Nishant and Echo Wang (Reuters) – Social media platform Reddit’s shares ended their first day of trading in New York up 48%, signaling that investor appetite for initial public offerings of promising yet loss-making companies could be returning. Reddit, which has not turned an annual profit since launching in 2005, lured investors by […]
Nike Set For Rare Sales Drop With Focus On Us Demand, Direct-to-consumer Pivot
By Ananya Mariam Rajesh (Reuters) – Nike is projected to post its first quarterly revenue decline in nearly two years on Thursday, turning the spotlight on the slower-than-expected boost from its direct-to-customer (DTC) strategy and sluggish demand in North America. The sportswear giant has invested in selling more through its own sales channels, including stores […]
Newsletter
Chocolate Prices to Keep Rising as West Africa’s Cocoa Crisis Deepens
March 28, 2024
By Maxwell Akalaare Adombila and Joe Bavier SAMREBOI, Ghana (Reuters) – Surveying the stripped landscape of her farm – dotted with pools of cyanide-tainted, tea coloured waste water left by illegal gold miners – is enough to make Janet Gyamfi break down. Only last year, the 27-hectare plot in western Ghana was covered with nearly […]
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