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(Reuters) -U.S. oil and gas producer Coterra Energy missed Wall Street estimates for third-quarter profit on Thursday due to weaker commodity prices. Benchmark natural gas prices remained subdued during much of the quarter, hurt by high storage levels and tepid demand. The U.S. Energy Information Administration expects U.S. gas production to decline in 2024, the …

Coterra Energy misses profit estimates as oil, gas prices shrink Read More »

(Reuters) -The crowd-sourced fact-checking feature of Elon Musk’s X, Community Notes, is not countering false claims about the U.S. election, the Center for Countering Digital Hate (CCDH) said in a report on Wednesday. Of the 283 misleading X posts that CCDH analyzed, 209, or 74% of the posts, did not show accurate notes to all …

Musk’s X ineffective against surge in US election misinformation, report says Read More »

By Ann Saphir (Reuters) -With inflation now only just above the Federal Reserve’s 2% target and wage pressures easing, U.S. central bankers are widely expected to cut short-term borrowing costs next week in an effort to keep the labor market from further cooling. But an uptick in underlying price pressures evident in data released on …

Fed seen on track to cut rates next week and in December Read More »

By Niket Nishant and Vedant Vinayak Vichare (Reuters) -Payments processor Mastercard reported a better-than-expected profit for the third quarter on Thursday, as customers encouraged by economic stability ramped up their spending. The company’s shares, however, fell 2% after disclosing that the European Commission has sought documents tied to a broader investigation into alleged anti-competitive behavior …

Mastercard’s profit beats estimates on resilient consumer spending Read More »

By Nate Raymond (Reuters) – Los Angeles County has sued beverage makers PepsiCo and Coca-Cola, accusing them of polluting the most populous U.S. county with plastic bottles and misleading the public about the environmental impact and recyclability of their containers. The county in a lawsuit filed on Wednesday in Los Angeles Superior Court said the …

Los Angeles County sues PepsiCo and Coca-Cola over plastic pollution Read More »

By Jonathan Stempel (Reuters) -Federal prosecutors charged a Pennsylvania man on Thursday with insider trading for using tips from his domestic partner to trade illegally ahead of CVS Health’s $9.5 billion purchase last year of primary care provider Oak Street Health. Carlos Sacanell, 58, of Willow Grove, was also charged with lying to the FBI …

Pennsylvania man charged with insider trading related to CVS takeover Read More »

By Dietrich Knauth NEW YORK (Reuters) -Purdue Pharma is close to a new bankruptcy settlement with its owners, members of the wealthy Sackler family, and state and local governments that have filed lawsuits alleging that its painkiller OxyContin spurred a deadly opioid-addiction crisis in the U.S., a court-appointed mediator said on Thursday.  Mediator Shelley Chapman …

Purdue Pharma nears new bankruptcy deal with Sacklers, mediator says Read More »

(Reuters) -U.S. oil production rose 1.5% in August to a monthly record high of 13.4 million barrels per day, the U.S. Energy Information Administration said in its monthly oil and natural gas production report. That topped the prior record high of 13.31 million bpd in December 2023, the data showed. In top oil-producing states, output …

US oil output hits monthly record high in August, agency says Read More »