By Echo Wang (Reuters) – U.S. stocks closed out 2022 lower on Friday, capping a year of sharp losses driven by aggressive interest rate hikes to curb inflation, recession fears, the Russia-Ukraine war and rising concerns over COVID cases in China. Wall Street’s three main indexes booked their first yearly drop since 2018 as an …
Wall St ends 2022 with biggest annual drop since 2008 Read More »
By Lewis Krauskopf NEW YORK (Reuters) – U.S. stock investors could not be more eager to turn the page on 2022, a brutal year that lopped about $8 trillion in market capitalization from the S&P 500 as the Federal Reserve unleashed a barrage of rate hikes to fight the steepest inflation in 40 years. The …
Inflation, recession and earnings among factors to drive U.S. stocks in 2023 Read More »
By Michael S. Derby NEW YORK (Reuters) – Just over half of the 50 U.S. states are exhibiting signs of slowing economic activity, breaching a key threshold that often signals a recession is in the offing, new research from the St. Louis Federal Reserve Bank report said. That report, released Wednesday, followed another report from …
New Fed research flags rising risk of U.S. recession Read More »
MEXICO CITY (Reuters) – Worker representatives at German automaker Audi’s Mexico plant have extended a strike deadline to Jan. 11 from Jan. 1 as they aim to reach an agreement with the firm over pay raises, a union document seen by Reuters on Friday showed. The Independent Union of Audi Mexico Workers (SITAUDI) and Audi …
Audi workers in Mexico extend strike deadline to Jan. 11 Read More »
By Michael S. Derby NEW YORK (Reuters) – A key facility the Federal Reserve uses to help control short-term interest rates saw record inflows on Friday, the final trading day of the year. The New York Fed said that its reverse repo facility took in $2.554 trillion in cash from money market funds and other …
Fed reverse repo facility hits record $2.554 trillion Read More »
By Davide Barbuscia NEW YORK (Reuters) – U.S. government bond investors hurting after the biggest annual decline in the history of the asset class are riding out yet another selloff, as worries over persistent inflation cloud the prospects for an expected 2023 rebound. Heavyweights such as Amundi, Vanguard and BlackRock turned bullish on bonds in …
Stumbling Treasury rally clouds bond market outlook for 2023 Read More »
By Marianna Parraga HOUSTON (Reuters) -U.S. oil company Chevron Corp is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data. On Friday, a Chevron-chartered vessel approached the South …
Chevron sending two oil tankers to Venezuela under U.S. approval Read More »
WASHINGTON (Reuters) – A judge has set Jan. 3 for the first pre-trial hearing in the Biden administration’s case against Microsoft over its $69 billion bid to take over “Call of Duty” maker Activision Blizzard. The Federal Trade Commission (FTC), which enforces antitrust law, asked a judge to block the transaction earlier this month, arguing …
First pre-trial hearing in Microsoft-Activision case set for Jan. 3 Read More »
By Marta Nogueira, Rodrigo Viga Gaier and Maria Carolina Marcello RIO DE JANEIRO/BRASILIA (Reuters) – The nomination of a Brazilian senator and longtime energy consultant to lead Petrobras suggests President-elect Luiz Inacio Lula da Silva wants the state-run firm to pivot to more renewable energy projects. Since 2019, Petroleo Brasileiro SA has doubled down on …
Petrobras’ next CEO seen overseeing strategic shift with renewables focus Read More »
BRASILIA (Reuters) – The incoming chief executive of Brazil’s state-run oil company Petrobras said on Friday he planned to tweak the country’s fuel price policy, but said investors need not worry. President-elect Luiz Inacio Lula da Silva on Friday named Senator Jean Paul Prates as the next CEO of Petroleo Brasileiro SA, as the company …
Next Petrobras CEO says he will change company’s fuel price policy Read More »
