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US refiners mull switch to alternative lighter crudes amid Trump tariff fears

21 Feb 2025

By Nicole Jao NEW YORK (Reuters) – Top U.S. refiners are poised to seek alternative sources for heavy, sour crudes, including running more domestic grades, as they await clarity around U.S. President Donald Trump’s threatened tariffs on imports from the nation’s top crude suppliers Canada and Mexico, executives said. Running more domestic crude, which is …

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Suriname’s Staatsolie needs to raise $1.5 billion for major energy project in 2025

21 Feb 2025

By Kemol King and Marianna Parraga GEORGETOWN (Reuters) – Suriname’s Staatsolie needs to secure an unprecedented $1.5 billion in bank financing this year to ensure it can participate in the country’s Gran Morgu energy project, the head of the state-owned company told Reuters. The project, led by TotalEnergies, is Suriname’s first major offshore project. The …

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Musk says he is thinking of auditing the Fed

21 Feb 2025

WASHINGTON (Reuters) – Billionaire Elon Musk said on Thursday he is thinking of auditing the Federal Reserve, after calling for greater scrutiny of the central bank in the past. Musk made the comment at the Conservative Political Action Conference in National Harbor, Maryland. Musk’s cost-cutting program under the Department of Government Efficiency has swept through …

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Fed should hold policy rate steady for ‘some time,’ Kugler says

21 Feb 2025

(Reuters) – Federal Reserve Governor Adriana Kugler on Thursday said she believes the U.S. central bank should leave its target for short-term borrowing costs in its current 4.25%-4.50% range, where it is exerting moderate restraint on the economy and on still-elevated inflation. Noting the net effect of new economic policies is highly uncertain and will …

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Billionaire investor Ryan Cohen boosts stake in Alibaba to $1 billion, WSJ reports

21 Feb 2025

(Reuters) -Billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba Group to roughly $1 billion in recent months, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Cohen’s position represents about 7 million shares, the report said. Alibaba and Cohen did not immediately respond to Reuters’ …

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Intel resolves antisemitism lawsuit, case is dismissed

21 Feb 2025

By Jonathan Stempel NEW YORK (Reuters) -A Jewish former employee of Intel has resolved his lawsuit accusing the chipmaker of firing him after he complained about an openly antisemitic supervisor, the former employee’s lawyer said on Thursday. Lawyers for Intel and the anonymous plaintiff John Doe, a former vice president of engineering and onetime Israel …

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Fed’s Kugler says inflation risks remain, cites economic policy uncertainty

21 Feb 2025

(Reuters) – Federal Reserve Governor Adriana Kugler said on Thursday U.S. inflation still has “some way to go” to reach the Fed’s 2% target, and that its path toward that goal continues to be bumpy. Kugler said she supported the Fed’s decision last month to hold short-term borrowing costs in their current 4.25%-4.50% range, a …

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US airlines challenge Biden wheelchair passenger protection rule

21 Feb 2025

WASHINGTON (Reuters) -Major U.S. airlines and a trade association have challenged a Biden administration rule issued in December requiring new consumer protections for disabled passengers using wheelchairs. United Airlines, Delta Air Lines, American Airlines, Southwest Airlines, JetBlue Airways <JBLU.O > and airline trade group Airlines for America challenge the rule in the 5th Circuit U.S. …

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Fed’s Musalem flags risk of rising inflation expectations

20 Feb 2025

By Howard Schneider and Michael S. Derby (Reuters) -St. Louis Federal Reserve President Alberto Musalem on Thursday raised the twin risks of rising inflation expectations and a labor market that weakens alongside rising prices, in remarks that highlighted the potentially difficult choices facing the U.S. central bank. While many of his colleagues say they regard …

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Newmont beats fourth-quarter profit estimate on higher gold production, prices

20 Feb 2025

(Reuters) -Newmont beat analysts’ estimate for fourth-quarter profit on Thursday, as the world’s biggest gold miner benefited from a rally in bullion prices and higher production. Average price of gold has been rising over the past few quarters and hit multiple all-time highs during the October to December period, as uncertainties surrounding the U.S. presidential …

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