Reuters US Business

By Allison Lampert and Oliver Griffin MONTREAL/BOGOTA (Reuters) – Latin America is drawing early investment for jet fuel produced from materials like forest residues and palm oil as emission-conscious airlines scour emerging markets for less-polluting fuel to power flights, industry executives say. While most sustainable aviation fuel, or SAF, is produced in the United States, …

Latin America emerging as hot spot for more climate-friendly jet fuel Read More »

By Nate Raymond (Reuters) – Coinbase Global Inc cannot force former customers to use private arbitration rather than the courts to resolve claims over a Dogecoin sweepstakes the cryptocurrency exchange ran, a U.S. appeals court ruled on Friday. Four former Coinbase users had sued Coinbase, claiming the company duped them into paying $100 or more …

Coinbase loses bid to force Dogecoin sweepstakes case into arbitration Read More »

MOSCOW (Reuters) – Russian commercial lender Rosbank has halted operations in U.S. dollars, euros and dirhams, warning that some transactions could be blocked, after Washington imposed sanctions on Thursday on the bank and its owner, Vladimir Potanin. The United States sanctioned Potanin, 61, his Interros holding company, Rosbank and members of his family. It did …

Russia’s Rosbank halts dollar, euro, dirham operations after U.S. sanctions Read More »

(Reuters) -Rio Tinto Ltd said on Friday it had completed its long drawn-out acquisition of remaining 49% stake in Turquoise Hill Resources, giving the Anglo-Australian firm a 66% stake in Mongolia’s Oyu Tolgoi, the world’s largest known copper and gold deposit. Turquoise Hill shareholders last week voted in favour of Rio Tinto’s $3.3 billion bid …

Rio Tinto completes $3.3 billion Turquoise Hill deal for larger share in Mongolia project Read More »

By Casey Hall SHANGHAI (Reuters) -Chinese luxury fashion conglomerate Lanvin Group, owner of the eponymous French fashion brand, said it is scouting for buys and will open new stores, after a New York SPAC listing on Thursday that raised $150 million and valued it at $1.31 billion. The amount raised is far lower than the …

Lanvin Group to open stores, hunt buys after U.S. SPAC listing Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stock indexes closed sharply lower on Thursday, with each of the major averages suffering their biggest daily percentage drop in weeks, as fears intensified that the Federal Reserve’s battle against inflation using aggressive interest rate hikes could lead to a recession. The U.S. central bank hiked rates …

Wall Street slumps as Fed heightens recession fears Read More »

(Reuters) -Canada’s main banking regulator on Thursday said it would launch a review of its mortgage guidelines for uninsured borrowers in January but left a stress test unchanged, citing an uncertain economic environment. Canadian mortgage rates have more than doubled from last year, sparking calls to drop the strict rules and offer relief to home …

Canada resists call to ease mortgage stress test for uninsured home buyers Read More »

(Reuters) – The Democratic chairman and the top Republican on the House of Representatives Transportation and Infrastructure Committee urged the Biden administration to take an active role in helping automakers deploy “connected vehicle” technology to avoid crashes. Democratic Representative Peter DeFazio and incoming chair Sam Graves in a letter Thursday urged Transportation Secretary Pete Buttigieg …

U.S. lawmakers want Buttigieg to speed deployment of connected vehicles Read More »

By Ross Kerber (Reuters) -A BlackRock Inc executive and Texas state senators sparred over the firm’s membership in an investment group aiming to limit climate change at a hearing on Thursday. Republicans at the hearing, which was webcast, questioned if BlackRock’s membership in the Climate Action 100+ committed it to putting too much pressure on …

BlackRock executive and Texas Republicans spar over climate actions Read More »

By Rod Nickel and Mrinalika Roy (Reuters) -The oil spilled from TC Energy Corp’s ruptured Keystone pipeline was diluted bitumen, the U.S. Environmental Protection Agency (EPA) said on Thursday, adding complications to the cleanup. The 622,000 barrels per day (bpd) pipeline was shut last week after it spilled 14,000 barrels of oil in rural Kansas, …

Keystone pipeline break spilled diluted bitumen, complicating cleanup Read More »