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By Timothy Gardner WASHINGTON (Reuters) -President Joe Biden’s administration said on Friday it has increased purchasing of crude oil to replenish the Strategic Petroleum Reserve following its historic sale from the stockpile in 2022. The Department of Energy on Friday issued two solicitations to buy a combined 6 million barrels of crude for delivery to …

US speeds up purchasing for Strategic Petroleum Reserve as oil prices dip Read More »

By Maha El Dahan and Hadeel Al Sayegh DUBAI (Reuters) -Saudi Arabia is poised to raise more than $11.2 billion from its secondary offering of oil giant Aramco’s shares, after pricing them towards the lower end of a price range at 27.25 riyals ($7.27), people familiar with the matter told Reuters on Friday. Aramco’s book …

Saudi Arabia set to raise $11.2 billion in Aramco share offer priced at lower end of range Read More »

PARIS (Reuters) – Airbus delivered 53 aircraft in May, down 16% from the same month last year and bringing the number of airplanes handed over to customers since Jan. 1 to 256, the planemaker said on Thursday. It is targeting 800 deliveries for the year. Demand for aircraft is strong because air travel is staging …

Airbus deliveries fall 16% in May Read More »

By Daina Beth Solomon SANTIAGO (Reuters) -Rothschild & Co has formally started to assess candidates to partner with Chile’s state-run miner Codelco on a major new lithium project slated to begin production in 2030, according to documents seen by Reuters on Thursday. A four-page “investment highlight” document from Codelco and Rothschild, dated June 2024, and …

Exclusive-Chile’s Codelco targeting 2030 production for Maricunga lithium site, document shows Read More »

(Reuters) – Rental car firm Hertz is weighing a sale of at least $700 million in secured debt and a convertible notes offering, as it looks to shore up its balance sheet, Bloomberg News reported on Thursday, citing people with knowledge of the matter. Shares of the company plunged as much as 12.6% to a …

Hertz considers $700 million sale of secured debt plus convertibles, Bloomberg says Read More »

(Reuters) -Emerson said on Thursday it had agreed to sell its remaining stake in its Copeland joint venture to Blackstone in a $3.5 billion deal, as the U.S. industrial firm further streamlines its business to sharpen focus on automation. Private equity funds managed by Blackstone would purchase Emerson’s 40% equity ownership in the joint venture, …

Emerson to exit Copeland JV in $3.5 billion deal with Blackstone Read More »

By Dani Morera and Andre Romani SAO PAULO (Reuters) -Meta launched its first AI-driven ad targeting program for businesses on WhatsApp, as it tries to wring revenue out of the popular chat service, the company announced on Thursday at a conference in Brazil. CEO Mark Zuckerberg announced the new tools in a video which was …

Meta’s WhatsApp launches new AI tools for businesses Read More »

By Chibuike Oguh NEW YORK (Reuters) -The S&P 500 and Nasdaq composite finished a shade lower on Thursday ahead of a key labor market report, retreating from record highs reached in the previous session. The Dow was slightly higher. Benchmark S&P 500 and Nasdaq rose early and reached fresh intraday record highs, but then they …

S&P 500, Nasdaq close slightly down ahead of US payrolls data Read More »

SAO PAULO (Reuters) – Brazilian restaurant chain operator Zamp has agreed to buy the rights to operate the Starbucks brand and some stores in the South American country, it said on Thursday, sending its shares soaring. Zamp, which is controlled by Abu Dhabi state investor Mubadala, operates Burger King and Popeyes restaurants in Latin America’s …

Mubadala-backed Zamp to buy Starbucks brand rights, stores in Brazil Read More »

(Reuters) -Shares of GameStop surged nearly 50% on Thursday after the online stock influencer known as “Roaring Kitty” posted on YouTube that he would host a livestream on Friday. Thursday’s surge was the latest in a bout of volatile trading in the struggling videogame seller’s shares that kicked off last month after the influencer, whose …

GameStop surges almost 50% as ‘Roaring Kitty’ teases livestream Read More »