Abercrombie & Fitch raises annual profit forecast on Hollister strength; shares jump

By Prerna Bedi (Reuters) -Abercrombie & Fitch raised its annual profit forecast on Tuesday, betting on strong demand for its Hollister dresses and jackets as shoppers snap up in-trend apparel during the crucial holiday season. The company’s shares surged nearly 18%, after it also forecast a strong holiday quarter and beat third-quarter estimates. The clothing…

Read More

Brazil central bank still uneasy on inflation outlook, governor says

BRASILIA (Reuters) -Brazil’s central bank remains dissatisfied with progress toward bringing inflation back to its target, its governor said on Monday, stressing that policymakers will maintain a data-dependent approach. Speaking at an event hosted by banking lobby Febraban, Gabriel Galipolo said the bank is “clearly moving in the desired direction to fulfill our mandate” of…

Read More

US labels another Venezuelan group as terrorist, ramping up pressure

By Daphne Psaledakis WASHINGTON (Reuters) -The United States on Monday formally designated Venezuela’s Cartel de los Soles as a foreign terrorist organization, layering additional terrorism-related sanctions on the group it has said includes President Nicolas Maduro and other high-ranking officials. Venezuela’s government rejected what it called a “ridiculous” U.S. plan to designate the “non-existent” group….

Read More