News for nerds
Nigeria’s central bank on Tuesday hiked its main lending rate by 150 basis points to 15.50% (NGCBIR=ECI), its highest level yet and more than forecast, forging ahead with efforts to rein in inflation and ease pressure on the currency. But Read more
Germany’s Commerzbank (CBKG.DE) said on Tuesday it would take a 490 million euro ($471 million) hit to its third-quarter operating profit after its Polish mBank (MBK.WA) unit booked additional provisions for its Swiss franc loans. The German lender said it Read more
Global miner BHP (BHP.AX) wants to expand its presence in Peru through exploration of new projects, Rag Udd, who heads the company in the Americas, said on Tuesday at the Perumin mining conference. Peru is the world’s No. 2 copper Read more
Europe bourses fell on Tuesday, extending a sell-off driven by escalating fears of a recession amid aggressive policy tightening by central banks, with London stocks reeling from worries about a new economic plan. Germany’s DAX (.GDAXI) slipped 0.7% to November Read more
Citigroup Inc has named Grant Carson, head of its EMEA hub-managed countries, to oversee its business in Russia as the Wall Street lender seeks to withdraw from the sanctions-hit country, according to an internal memo seen by Reuters on Tuesday. Read more
Ford Motor Co (F.N) said Tuesday it will invest $700 million and add 500 jobs at its Kentucky plant to support production of its new 2023 model year F-Series Super Duty truck. The No. 2 U.S. automaker and its South Read more
Stellantis said on Tuesday it would provide financial support worth up to 1,400 euros ($1,350) to most of its employees in France to help them cope with surging inflation and would soon discuss a similar move in Italy. Europe’s cost-of-living Read more