MEXICO CITY (Reuters) – Walmart’s Mexican unit has launched a mobile phone service available throughout the country, the retailer said on Wednesday. Called “Bodega Aurrera Internet y Telefonia,” or BAIT, the service offering prepaid calls and internet usage is available at Bodega Aurrera, Mi Bodega and Walmart store formats. Mexican media first reported on BAIT’s […]

WASHINGTON (Reuters) – U.S. bank profits fell by 69.6% to $18.5 billion in the first quarter of 2020 from the year prior as banks felt the economic impact of the novel coronavirus pandemic, according to data from a banking regulator. The Federal Deposit Insurance Corporation reported that “deteriorating economic activity” caused lenders to write off […]

CHICAGO (Reuters) – United Airlines said on Monday it is pledging its MileagePlus frequent flyer program for a new $5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand. So far, United continues to book more new tickets than cancellations for the […]

KHARTOUM (Reuters) – Sudan will begin rolling out an experimental programme of direct cash transfers to its neediest citizens next week as it tries to wean the country off costly subsidies. Khartoum has been struggling to reorganise its floundering economy. Inflation has been running at nearly 100% and the currency tumbling as the government prints […]

(Reuters) – Authorities in Cape Verde have arrested Alex Saab, a Colombian businessman close to socialist Venezuelan President Nicolas Maduro who was charged by the United States with alleged money laundering, the U.S. Department of Justice said on Saturday. Department of Justice spokeswoman Nicole Navas Oxman said in a statement that Saab was arrested pursuant […]

NEW YORK (Reuters) – Shares of airlines, cruise lines and other companies that have been popular with investors on the Robinhood trading app shot higher on Friday, a day after stocks suffered their worst one-day market rout in about three months. American Airlines Group Inc and Delta Air Lines Inc were up about 16% and […]

(Reuters) – Democratic presidential candidate Joe Biden’s campaign published an open letter to Facebook (FB.O) Chief Executive Mark Zuckerberg on Thursday, calling for the company to fact-check politicians’ ads in the two weeks ahead of the U.S. presidential election in November. The letter also demanded that Facebook promptly remove false, viral information and that there […]

WASHINGTON (Reuters) – White House Economic Adviser Larry Kudlow said on Wednesday the U.S. economy appears to have hit a turning point after rapidly plunging into a recession due to the coronavirus pandemic about three months ago. “The stock market is presaging an upturn in the economy,” he said in an interview on CNBC, citing […]

PARIS (Reuters) – Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector’s history, the International Air Transport Association (IATA) forecast on Tuesday. With most of the world’s airliners currently parked, IATA said revenue would likely fall to $419 billion from $838 […]

(Reuters) – The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased. Rising technology and communication stocks have driven gains in […]