Finance

Top Agricultural Traders Get Squeezed as U.S. Exports Falter

(Bloomberg) — The biggest agricultural-commodity traders are getting squeezed. With U.S. grain exports expected to fall more than 20% in the 2019 crop year, Archer-Daniels-Midland Co., Bunge Ltd. and Cargill Inc. are making less money buying and selling crops. That’s according to S&P Global Ratings, which estimates trading and merchandising margins for the firms have …

Finance

Trump Explored Cutting Grants for Schools Tied to Erdogan Foe

(Bloomberg) — Early in his presidency, Donald Trump’s White House explored whether the U.S. could cut off taxpayer funding for a network of charter schools affiliated with a political opponent of Turkish leader Recep Tayyip Erdogan, according to two people familiar with the matter. The 2017 episode, never previously reported, came as the newly inaugurated …

Finance

United, Avianca and Copa’s South American deal delayed as they mull fourth partner

BRASILIA (Reuters) – A proposed joint venture between United Airlines (O:UAL), Colombia’s Avianca Holdings (CN:AVT_p) and Panama’s Copa Holdings (N:CPA) has been delayed due to the potential inclusion of Brazil’s Azul SA (N:AZUL) as a fourth partner, as well as problems at Avianca, the CEOs of two of the companies said. The three airlines had …

Finance

U.S. City Revenue Lags Inflation for First Time in Seven Years

(Bloomberg) — U.S. cities’ revenues are failing to keep pace with inflation for the first time in seven years, signaling an increase in the financial pressure on local governments despite the nation’s record-long economic expansion, according to a survey released by the National League of Cities. On average, municipal finance officers estimate general-fund revenues will …

Finance

GM, Toyota, Fiat Chrysler seek to intervene in California emissions suit

WASHINGTON (Reuters) – Major automakers including General Motors Co (N:GM), Toyota Motor Corp (T:7203), Hyundai Motor Co (KS:005380) and Fiat Chrysler Automobiles NV (MI:FCHA) are asking to intervene in a lawsuit filed by 23 U.S. states last month, the companies said on Monday. The automakers are seeking to intervene on behalf of the Trump administration …

Finance

‘No negotiation’: Bolivia opposition leader says strikers will not accept talks

LA PAZ (Reuters) – Bolivian opposition leader Carlos Mesa on Monday ruled out any negotiations with President Evo Morales to end the South American country’s political crisis, as strikes closed roads, schools and businesses around the nation. Bolivia has been convulsed by protests for more than a week after its electoral tribunal abruptly suspended publication …

Finance

Paxos to launch settlement of U.S.-listed equities after SEC’s no-action letter

NEW YORK (Reuters) – Paxos Trust Co, a New York-based regulated financial institution, said on Monday it will launch a blockchain-based settlement platform for a limited number of U.S.-listed equities after the company received a “no-action” letter from the Securities and Exchange Commission. A no-action letter from the SEC means the U.S. agency will not …