(Adds comments from Banxico board member, economist)
MEXICO CITY, May 13 (Reuters) - Mexico’s central bank on Thursday kept its key interest rate steady in a unanimous decision by its five-member board that reflected growing concerns about the path of inflation and triggered speculation the next move would be a hike.
For the second meeting in a row, the Bank of Mexico, known locally as Banxico, kept the rate unchanged at 4.0%, after cutting it by 25 basis points in February.
Banxico said that inflation expectations for 2021 had risen since its last monetary policy meeting and that the balance of risks for prices had an upward bias.
By Reuters Staff
2 Min Read
May 13 (Reuters) - Grupo Comercial Chedraui said on Thursday its unit would buy warehouse store business Smart & Final Holdings Inc for $620 million, including debt, as the Mexican grocer looks to expand its footprint in the United States.
Private equity firm Apollo Global Management Inc is selling Smart & Final to Grupo Comercial Chedraui’s (GCC) subsidiary Bodega Latina Corp.
The deal is expected to close in the second or the third quarter, pending U.S. and Mexican regulatory approvals and other customary closing conditions.
Apollo acquired reut.rs/33NQebr Smart & Final in 2019 for about $1 billion and sold reut.rs/2QiSFQo its warehouse unit last year for $970 million to US Foods Holding Corp.
By Reuters Staff
2 Min Read
(Reuters) - Global investors continued to buy equity funds in the week ended May 12, driven by hopes of an economic rebound and expectations of faster vaccine rollouts to curb the pandemic.
FILE PHOTO: A nearly empty trading floor is seen at the New York Stock Exchange (NYSE) in New York, U.S., May 22, 2020. REUTERS/Brendan McDermid/File Photo
According to Refinitiv data, global equity funds received $15.1 billion worth of inflows, the biggest in four weeks.
However, the inflows mainly involved cyclical stocks, while growth funds, which invest in fast-expanding sectors such as tech, faced outflows on concerns over rising inflation levels. (Graphic: Fund flows into global equities bonds and money markets, )
The Bank of England said on Friday that it had approved the "bail-in" of $595 million of loans that a British-based financial company made to the major Ukrainian lender PrivatBank before it was nationalised in 2016.
Orange's Spanish business will lay off up to 485 employees in the coming weeks, the company said on Friday, citing years of shrinking income amid Spain's hypercompetitive and increasingly low-cost telecommunications sector.