Venezuela’s anti-inflation efforts dealt blow as currency tumbles

Venezuela’s effort to curb high inflation by stabilizing exchange rates is becoming less effective as the local bolivar currency slips in value against the dollar, analysts said on Wednesday. For months, President Nicolas Maduro’s administration has sought to fight inflation by anchoring the bolivar’s exchange rate. It has increased the supply of foreign currency cash […]

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List of bidders for Citigroup’s Mexican retail arm shrinks as Inbursa drops out

Mexican bank Grupo Financiero Inbursa (GFINBURO.MX) said on Wednesday it had pulled out of the bidding process for U.S. bank Citigroup’s Mexican retail arm Citibanamex. “Inbursa confirms that, following submission of a non-binding proposal for the businesses in question, the parties mutually agreed that Inbursa will not be continuing to the next stages of the […]

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Shares rise, U.S. Treasury yields drop as Fed minutes suggest slower rate hikes

World equities rose while U.S. Treasury yields retreated on Wednesday after minutes of the Federal Reserve’s latest policy meeting showed U.S. central bankers looking to soon moderate the pace of interest rate hikes. A “substantial majority” of Fed policymakers agreed it would “likely soon be appropriate” to slow the pace of interest rate hikes, the […]

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Berkshire Hathaway says Warren Buffett donates shares to family charities

Berkshire Hathaway Inc (BRKa.N) said Warren Buffett has donated more of his fortune to four family charities, without disclosing whether the billionaire chairman made a new donation to the Bill & Melinda Gates Foundation. According to a regulatory filing, Buffett on Wednesday donated another 2.4 million of the conglomerate’s Class B shares, worth about $759 […]

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