Business

Brazilian broker XP’s profit gains from higher assets under custody

XP Inc (XP.O) posted a marginal jump in second-quarter adjusted profit as the Brazilian broker gained from a surge in assets under custody that offset a slowdown in inflows due to higher interest rates. Last week, Brazil’s central bank raised its key interest rate by half a percentage point to battle the impacts of fuel […]

Business

Nasdaq says short interest fell 3.12% in late July

Short interest on the Nasdaq fell 3.12% in late July, the exchange said on Tuesday. As of July 29, short interest fell to about 12.65 billion shares, from 13.058 billion shares as of July 15. Investors who sell securities “short” borrow shares and then sell them, expecting the stock to fall so they can buy […]

Business

Volkswagen Mexico workers reject union’s 9% raise deal, as inflation climbs

Workers at Volkswagen AG’s (VOWG_p.DE) main Mexico factory have rejected their own union’s deal with management for a 9% pay raise, setting the stage for further talks just as inflation hits a 22-year high. Volkswagen de Mexico on Tuesday said it was committed to “constructive dialogue” with the union after the unexpected rejection in a […]

Business

Argentina’s central bank likely to raise interest rate this week, say traders

Argentina’s central bank is likely to raise its benchmark interest rate by 600 basis points this week to tackle the country’s high inflation, market participants told Reuters on Tuesday. Analysts and local traders consulted by Reuters agreed that the bank could bring the nominal annual rate to 66% from the current rate of 60%. The […]

Business

U.S. SEC to propose new rule boosting hedge, private fund leverage disclosures

The U.S. Securities and Exchange Commission (SEC) will propose a new rule on Wednesday aimed at boosting hedge and private fund leverage disclosures, among other details, according to a source familiar with the agency’s thinking. The proposal by the Wall Street regulator would require funds to provide more information on leverage as part of their […]

Business

Toronto market gives back some recent gains as tech weighs

Canada’s main stock index fell on Tuesday, with technology shares leading the move lower ahead of U.S. inflation data expected to set the tone for additional Federal Reserve interest rate increases. The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) ended down 90.87 points, or 0.5%, at 19,578.30, after four straight days of gains. “We’re seeing […]

Business

Oil settles lower as halted Russian pipeline flows appear temporary, demand fears rise

Oil prices settled slightly lower on Tuesday after a see-saw session as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine. Crude prices have been under pressure for weeks as fears mounted that a recession could cut oil […]