Reuters US Business

By David Randall NEW YORK (Reuters) -Investors are eyeing everything from the U.S. healthcare sector to UK stocks and gold as potential havens during a recession, as worries grow that the Federal Reserve’s interest rate increases will bring on an economic downturn next year. Gloomy year-ahead forecasts from Wall Street banks have piled up in …

Wall Street hunts for recession plays to weather potential 2023 turbulence Read More »

By Yousef Saba DUBAI (Reuters) – Saudi oil giant Aramco’s base oil subsidiary Luberef expects to raise up to 4.95 billion riyals ($1.32 billion) from its initial public offering, it said, if it prices at the top of a range announced on Sunday. Luberef will sell nearly 30% of the company’s issued share capital, or …

Saudi Aramco’s Luberef expects to raise up to $1.32 billion from IPO Read More »

(Reuters) – Germany will set up so-called climate protection contracts with industrial companies next year to support a transition towards cleaner production and a switch to hydrogen, Economy Minister Robert Habeck said on Sunday. “The aim is to efficiently develop a green industry along the value chain that becomes marketable,” Habeck was quoted as saying …

Germany to set up climate protection contracts with industry in 2023 – minister Read More »

By Jonathan Stempel NEW YORK (Reuters) – Bill Hwang is seeking the dismissal of his U.S. fraud indictment over the collapse of his once-$36 billion Archegos Capital Management LP, saying prosecutors committed misconduct by sandbagging him when building their case. Hwang made the request in a Friday night filing in Manhattan federal court, where he …

Archegos’ Bill Hwang says prosecutor misconduct justifies indictment’s dismissal Read More »

(Reuters) – FTX’s digital currency futures and clearinghouse LedgerX is up for sale and has attracted interest from crypto firms including Blockchain.com, Gemini, Bitpanda and Kalshi, Bloomberg reported on Friday, citing people familiar with the matter. There could be over half a dozen other potential buyers for the crypto derivatives exchange, the people told Bloomberg, …

FTX’s LedgerX attracts interest from Blockchain.com, Gemini- Bloomberg Read More »

By Rod Nickel WINNIPEG, Manitoba (Reuters) – As TC Energy Corp prepares to unload C$5 billion ($3.7 billion) in assets next year, investors and analysts say the North American pipeline operator has plenty of options without touching its core gas business. Chief Executive Francois Poirier cleared up any ambiguities this week when asked how much …

‘No sacred cows’ as pipeline company TC Energy prepares for C$5 billion asset sales Read More »

MEXICO CITY (Reuters) – Mexican Economy Minister Raquel Buenrostro and U.S. Secretary of Commerce Gina Raimondo on Friday agreed to set out a plan by early 2023 for the relocation of companies from Asia to North America, Mexico’s government said. On her first visit to Washington since taking office in October, Buenrostro has this week …

Mexico, U.S. plan pitch by early 2023 to lure firms from abroad Read More »