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US East and Gulf Coast dockworkers ratify new six-year contract

27 Feb 2025

By Abhinav Parmar (Reuters) -More than 45,000 U.S. dockworkers represented by the International Longshoremen’s Association ratified a new six-year contract on Tuesday, formalizing a deal that offers bumper pay hikes and averts any potential disruption until 2030. Terms of the contract, previously agreed upon by the labor union and the United States Maritime Alliance, included …

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Factbox-US licenses and authorizations to Venezuela’s oil sector

27 Feb 2025

By Marianna Parraga HOUSTON (Reuters) – Since it first imposed sanctions on Venezuela’s energy sector in 2019, the United States has granted individual licenses to some oil companies that allow them to export the South American country’s oil to specific destinations. Washington had imposed the sanctions over reports by international observers of irregularities in elections …

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Australia clears Qatar-Virgin deal to spur competition in aviation market

27 Feb 2025

By Renju Jose SYDNEY (Reuters) – Australia on Thursday approved Qatar Airways buying a 25% stake in Virgin Australia from U.S. private equity firm Bain Capital, posing a challenge for national flag carrier Qantas that has long dominated Australian air routes. Qatar Airways in October proposed to buy the minority stake for an undisclosed amount …

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Australia Q4 business investment dips 0.2%, misses forecasts

27 Feb 2025

SYDNEY (Reuters) – Australian business investment unexpectedly dipped in the December quarter as a pullback in mining and construction outweighed strength in data centres, suggesting a slight drag on economic growth. Data from the Australian Bureau of Statistics on Thursday showed private capital spending fell an inflation-adjusted 0.2% in the fourth quarter from the previous …

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Factbox-Top buyers of Venezuelan crude oil in the United States

27 Feb 2025

HOUSTON (Reuters) – U.S. imports of crude oil from Venezuela averaged 222,000 barrels per day (bpd) in the first 11 months of 2024, according to U.S. Energy Information Administration data, making it the fourth largest crude supplier to the United States. While Venezuela’s oil accounted for only 3.5% of total U.S. crude imports in November, …

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China says Taiwan seeks to give away chip industry to US

27 Feb 2025

BEIJING (Reuters) – China said on Wednesday that Taiwan was seeking to give away the island’s semiconductor industry to the United States as a “souvenir” and leverage it to seek political support from Washington. U.S. media have said Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker and a major supplier to companies such as …

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S&P 500 ends barely changed; Nvidia shares up after the bell

27 Feb 2025

By Caroline Valetkevitch NEW YORK (Reuters) -The S&P 500 ended little changed on Wednesday ahead of quarterly results from Nvidia, whose positive outlook could set the tone for the artificial intelligence sector. Stocks lost ground in afternoon trading, with investors digesting the latest comments from U.S. President Donald Trump on tariffs. Trump said on Wednesday …

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Panama delays Cobre Panama copper mine decision pending social security reform

27 Feb 2025

By Elida Moreno and Divya Rajagopal PANAMA CITY (Reuters) – Panama President Jose Mulino will only take a decision regarding the future of the Cobre Panama mine after he resolves the issue of the country’s social security policy, a supplier of the Cobre Panama mine said after a meeting with the Panamanian president. Abel Oliveros …

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Paramount Global misses quarterly revenue estimates as cable TV decline bites

27 Feb 2025

By Harshita Mary Varghese (Reuters) – Paramount Global fell short of Wall Street’s fourth-quarter revenue expectations on Wednesday as a continued decline in its cable TV unit clouded higher-than-expected subscriber growth for its Paramount+ streaming platform.  Shares of the company fell about 2% in extended trading.  Media giants are reshaping their business strategies in response …

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