Reuters USA

Brazil’s economy stalled last year; Lula blames high borrowing costs

By Marcela Ayres BRASILIA (Reuters) -Brazil’s economy shrank in the fourth quarter, official data showed on Thursday, adding to an overall slowdown last year as President Luiz Inacio Lula da Silva again blasted the central bank for high interest rates impeding a swifter recovery. The economy contracted 0.2% in the October-to-December period, compared with the …

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SEC objections to Voyager-Binance deal criticized by U.S. judge

By Dietrich Knauth (Reuters) -A U.S. bankruptcy judge on Thursday criticized the Securities and Exchange Commision for casting vague doubts about crypto lender Voyager Digital’s proposed sale to Binance.US, saying the regulator had essentially asked to “stop everybody in their tracks” without explaining how to address its concerns. U.S. Bankruptcy Judge Michael Wiles made the …

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Starbucks CEO Schultz may be ordered to testify at US Senate labor hearing

By Arshreet Singh and David Shepardson WASHINGTON (Reuters) -U.S. Senator Bernie Sanders on Thursday refused to back down on calls to make Starbucks Corp interim Chief Executive Officer Howard Schultz, who is stepping down this month, testify at a hearing on the company’s compliance with labor law. Starbucks reiterated on Thursday it has no plans …

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Ohio train derailment probe focuses on failed pressure valves on cars with toxic chemical

By David Shepardson and Brad Brooks WASHINGTON (Reuters) -The investigation into the Ohio train derailment has found that aluminum parts on three tank cars may have melted and caused pressure relief devices not to function, contributing to the release of toxic chemicals last month, the National Transportation Safety Board (NTSB) said on Thursday. The Feb. …

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Best Buy, Walmart, other major US retailers tout health services

By Katherine Masters NEW YORK (Reuters) -Major U.S. retailers including Best Buy, Walmart and Amazon are increasing their offerings of healthcare and health-related products as inflation-wary Americans shift more of their budgets to services and away from goods. Electronics retailer Best Buy recently kicked off a partnership with Atrium Health, part of Advocate Health, one …

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Australia’s Downer chairman departs amid NSW regulator probe

(Reuters) – Downer EDI Ltd said on Friday Chairman Mark Chellew has resigned and the Australian engineering contractor elected deputy Mark Menhinnitt as the acting chairman. The resignation follows a public inquiry launched by the New South Wales (NSW) corruption watchdog on Thursday to investigate allegations that certain Downer employees obtained personal benefits by favouring …

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Japan’s February service-sector activity grows at fastest rate in eight months – PMI

TOKYO (Reuters) – Japan’s services sector activity grew at the fastest pace in eight months in February, a private sector survey showed on Friday, as the economic impact of the coronavirus pandemic receded globally. The final au Jibun Bank Japan Services purchasing managers’ index (PMI) rose in February to a seasonally adjusted 54.0 from January’s …

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Site of Tesla Mexico factory near double size of Texas plant, local official says

By Daina Beth Solomon MEXICO CITY (Reuters) – Tesla Inc’s planned factory in Mexico’s northern border state of Nuevo Leon will be built on a site spanning several thousand acres, almost twice the size of its factory site in Texas, with construction slated to start in three months, a Mexican official said on Thursday. Jesus …

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