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Brazil’s central bank chief Roberto Campos Neto said on Thursday it is not true that banks lose money with the Pix instant payment system, launched by policymakers in late 2020. Speaking at an event hosted by Brazil’s banking lobby group Read more
A U.S. appeals court on Thursday upheld a 2020 ruling that tossed out a racketeering lawsuit filed by General Motors Co (GM.N) against rival Fiat Chrysler Automobiles (FCA), now part of Stellantis NV (STLA.MI), and former executives. GM filed the Read more
The Nasdaq and S&P 500 retreated to close lower on Thursday on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation. The S&P 500 (.SPX) Read more
Brazilian stock exchange operator B3 SA Brasil Bolsa Balcao (B3SA3.SA) on Thursday reported an 8.5% decline in second-quarter net profit, as higher interest ratespulled more money out of equities, leading to falling trading volumes. B3’s net profit came in at Read more
U.S. oil refiner Citgo Petroleum on Thursday reported second quarter earnings that surged to $1.28 billion, the highest quarterly profit in its history, on higher crude processing volumes and stronger margins. The results reflect a sharp turnaround after back-to-back annual Read more
Credit Suisse (CSGN.S) has applied to the English High Court to initiate formal legal proceedings against Japan’s SoftBank Group Corp (9984.T) in a $440 million dispute over Greensill-linked funds, two sources familiar with the matter said on Thursday. Switzerland’s second-largest Read more
Argentina’s central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid on spiraling inflation that rose to a 20-year high of 71%, according to new data. The central bank Read more