Reuters US Business

By Nell Mackenzie LONDON (Reuters) – Banks, insurance and trading firms returned to favour as hedge funds last week snapped up these company stocks at the fastest pace since June 2023, a Goldman Sachs note showed. After holding a net sold position in seven of the last eight weeks, financial sector stocks were the most …

Hedge funds switch to buying banks, insurance and trading firms, says Goldman Sachs Read More »

HOUSTON (Reuters) -Nearly a fifth of crude oil production and 28% of natural gas output in U.S. Gulf of Mexico federal waters remains offline in the aftermath of Hurricane Francine, the U.S. offshore energy regulator said on Sunday. Francine marched through prime offshore oil and natural gas producing areas and hit Louisiana as a Category …

Fifth of US Gulf of Mexico crude oil and 28% of gas offline, regulator says Read More »

LIMA (Reuters) -Peru’s economy expanded for the fourth month in a row in July fueled by all sectors except agriculture, official data showed on Sunday, continuing the country’s recovery following a recession last year. The 4.47% year-on-year growth in the month, according to the INEI statistics agency, outdid an estimate from the chief economist of …

Peru economy expands for fourth straight month in July Read More »

JERUSALEM (Reuters) – Israel’s inflation rate surged in August to its highest rate in nearly a year, data from the Central Bureau of Statistics showed on Sunday, reducing the likelihood of more interest rate cuts anytime soon. The annual inflation rate rose to 3.6% last month from 3.2% in July, its highest level since last …

Israel CPI jumps to 10-month high of 3.6% in August Read More »

(Reuters) -U.S. aluminium maker Alcoa said on Sunday that it would sell a 25.1% stake in its Ma’aden joint venture to Saudi Arabian mining company Ma’aden for $1.1 billion. The transaction includes approximately 86 million shares of Ma’aden and $150 million in cash, Alcoa said in a statement, adding that it expects to close the …

Alcoa to sell its 25.1% stake in Ma’aden joint venture for $1.1 billion Read More »

(Reuters) -Bank of Canada Governor Tiff Macklem has opened the door to stepping up the pace of interest rate cuts, the Financial Times reported on Sunday. Macklem told the newspaper in an interview that rate-setters are concerned about Canada’s labor market and the possibility of lower oil prices hitting the economy. “As you get closer …

Bank of Canada governor raises prospect of faster rate cuts, FT reports Read More »

SEATTLE (Reuters) – A strike at Boeing “could go on for a while” as workers are confident they can get bigger wage increases and an improved pension, union leader Jon Holden said in an interview with National Public Radio (NPR) on Saturday. More than 30,000 members of the International Association of Machinists and Aerospace Workers …

Boeing strike could drag on as workers push for higher wages, union leader says Read More »

HOUSTON (Reuters) – Nearly 30% of U.S. Gulf of Mexico crude oil production and 41% of its natural gas production remained offline on Saturday following Hurricane Francine, the U.S. offshore energy regulator said. Francine churned through prime oil and gas producing areas in the U.S. Gulf of Mexico and slammed into Louisiana with up to …

Nearly 30% of US Gulf of Mexico oil output offline after storm Read More »

DUBAI (Reuters) – The United Arab Emirates does not expect to resume talks with the U.S. about a multi-billion dollar deal for F-35 warplanes, irrespective of who is elected to the White House in November, a senior UAE government official said on Saturday. Reuters reported on Friday that the UAE was planning to resume negotiations …

UAE does not plan to re-open F-35 fighter jet talks with U.S. – UAE official Read More »