Leadership shake-up to test Mexican central bank as inflation soars
Mexican President Andres Manuel Lopez Obrador’s surprise shakeup of the nomination process for the Bank of Mexico’s (Banxico) next chief has cast doubt over the bank’s rate-tightening cycle as it battles to keep high inflation in check.
Spain’s BBVA says Garanti deal priced in further lira depreciation
Spain’s BBVA (BBVA.MC) on Wednesday reiterated its long-term commitment towards Turkey and said lira depreciation had been taken into account while structuring its recent purchase offer for a stake in Garanti Bank.
EXCLUSIVE In strategy shift, Louis Vuitton considers first duty free store in China’s Hainan
Louis Vuitton is considering opening its first duty free store in China on the emerging luxury island hub of Hainan, according to two sources, in a move that would mark a new approach for the world’s largest luxury label.
IBM quarterly revenue beats on cloud strength, shares rise
IBM (IBM.N) reported second-quarter revenue on Monday that beat analysts’ estimates, as a recovery in client spending powered strong growth in its cloud and consulting businesses.
Amazon sees Prime Day sales boost amid supply chain snags
Amazon.com Inc’s (AMZN.O) Prime Day saw strong online sales growth in the United States on Monday even as supply chain snafus and a robust spending appetite limited the level of discounts on popular products like electronics.
