By Sabrina Valle and Mrinalika Roy HOUSTON (Reuters) – Chevron has agreed to buy Hess for $53 billion in stock to gain a bigger U.S. oil footprint and a stake in rival Exxon Mobil’s massive Guyana discoveries, the latest in a series of blockbuster U.S. oil combinations. The Chevron deal announced on Monday and a …
Chevron to buy Hess for $53 billion in latest oil mega-merger Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended sharply lower for the day and week on Friday as investors worried about more interest rate hikes and the Israel-Hamas conflict spreading. The S&P 500 and Nasdaq fell more than 1% each. All of the S&P 500 index’s 11 sectors ended lower in broad-based selling, …
Wall St ends sharply lower, posts weekly losses; Mideast fears increase Read More »
By Lewis Krauskopf NEW YORK (Reuters) – Growing volatility in U.S. stocks is driving a search for defensive assets, though investors may have fewer places to hide this time around. Wall Street’s most closely-watched measure of investor nervousness, the Cboe Volatility Index, on Friday hit its highest in nearly seven months, as the S&P 500 …
Investors seek shelter as U.S. stocks grow more turbulent Read More »
By David Lawder WASHINGTON (Reuters) -The U.S. government on Friday posted a $1.695 trillion budget deficit in fiscal 2023, a 23% jump from the prior year as revenues fell and outlays for Social Security, Medicare and record-high interest costs on the federal debt rose. The Treasury Department said the deficit was the largest since a …
US budget gap soars to $1.7 trillion, largest outside COVID era Read More »
(Reuters) – United Auto Workers President Shawn Fain said on Friday the three Detroit automakers had converged on a 23% wage hike after fresh contract offers from General Motors and Stellantis NV but “there is more to be won” . Ford made its offer over two weeks ago. Here is a look at the top …
Factbox-Top issues in Detroit Three’s negotiations with UAW Read More »
By Pete Schroeder WASHINGTON (Reuters) -The chance for persistent inflation to keep interest rates higher and potential losses in the commercial real estate market are among the top concerns of respondents to a Federal Reserve survey on financial stability, the U.S. central bank said on Friday. The latest version of the central bank’s semiannual report …
Inflation, commercial real estate among top financial stability concerns -Fed survey Read More »
By Joey Roulette WASHINGTON (Reuters) -Blue Origin’s senior vice president of operations is leaving “for personal reasons,” according to an internal email seen by Reuters, the third executive departure to be disclosed in less than a month at Jeff Bezos’ space company as it aims to sharpen its competitive footing with Elon Musk’s SpaceX. Blue …
Bezos’ Blue Origin sees third executive departure amid restructuring Read More »
BRUSSELS (Reuters) – European Union antitrust regulators have resumed their investigation into Photoshop maker Adobe’s $20 billion bid for cloud-based designer platform Figma, setting a Feb. 5 deadline for their decision, a European Commission filing showed on Friday. The EU watchdog stopped the clock last month while waiting for requested information from the companies. It …
EU antitrust regulators resume Adobe, Figma probe, deadline Feb. 5 Read More »
(Reuters) – U.S. Federal Reserve policymakers are increasingly taking the view that the rising bond yields that are tightening financial conditions in the way they have been seeking are due less to market expectations of further Fed rate hikes but rather to a variety of other factors, allowing them to do less with their own …
Bond term premiums are now a focus for the Fed. What are they? Read More »
By Rodrigo Campos NEW YORK (Reuters) – Argentines will on Sunday move a step closer to deciding who will run the $600 billion economy engulfed by a deep crisis that involves runaway inflation, a dearth of U.S. dollar reserves and an electorate with little trust in its currency. Regardless of who wins the race between …
Analysis-Dollarization, devaluation, debt: potential traps for Argentina investors Read More »
