Reuters USA

Out of lockdown, Kmart pushes Australia’s Wesfarmers to higher profit

By Byron Kaye and Roushni Nair (Reuters) -Australia’s biggest listed conglomerate Wesfarmers Ltd booked a better-than-expected interim profit as a post-lockdown rebound at its Kmart chain offset a sluggish performance from its hardware stores, sending its shares higher. The result from Australia’s 12th-largest company by market capitalisation showed the benefit of a diversification strategy spanning …

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Australia’s Fortescue FFI sees Texas potential among 5 key projects

MELBOURNE (Reuters) – Australia’s Fortescue Metals Group sees green hydrogen production in Texas as likely to be one of five key projects its energy division will decide to invest in this year, the company’s green energy chief said on Wednesday. The world’s fourth largest iron ore maker is expanding into production of hydrogen from renewable …

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Australian central bank governor warns against failing to contain inflation

SYDNEY (Reuters) – The head of Australia’s central bank on Wednesday warned of dire consequences of not containing inflation, which is running at three-decade highs. Appearing before members of parliament, Reserve Bank of Australia Governor Philip Lowe said one risk was that the bank might not have done enough on interest rates. “Inflation at the …

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Australia’s CBA posts record HY profit, outlook hits shares

By Praveen Menon and Savyata Mishra (Reuters) -Rising interest rates helped Commonwealth Bank of Australia deliver record profits on Wednesday, but shares of the lender dropped on headwinds facing its mortgages business and concerns its margins may have peaked.  Australia’s biggest lender said loan impairment expenses increased by A$586 million ($409 million) and business credit …

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At Bahamas summit, Caribbean leaders to seek international push on Haiti

By Brendan O’Boyle and Jasper Ward (Reuters) – Caribbean leaders will appeal for international assistance on Haiti at an annual meeting in the Bahamas later this week, the prime minister of the host nation said Tuesday. Haiti will be a “prominent priority” on the agenda for the Feb. 15-17 meeting in Nassau, Bahamian Prime Minister …

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Biden taps Brainard, Bernstein to lead economic team, braces for debt ceiling fight

By Andrea Shalal, Steve Holland and Lindsay Dunsmuir (Reuters) -President Joe Biden on Tuesday picked Federal Reserve Vice Chair Lael Brainard and White House economist Jared Bernstein as his top economic advisers, part of a fresh push by the Democratic president to convince skeptical Americans his economic policies are working. The decision, announced after financial …

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Nikki Haley takes on Donald Trump for 2024 U.S. Republican nomination

By Steve Holland and Andy Sullivan WASHINGTON (Reuters) -Former U.S. ambassador to the United Nations Nikki Haley on Tuesday kicked off her campaign for the 2024 Republican presidential nomination, challenging her former boss Donald Trump, who holds a strong lead in a new Reuters/Ipsos poll. “It’s time for a new generation of leadership,” Haley said …

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