Reuters US Business

By David Lawder and Nichola Groom (Reuters) – The U.S. Treasury on Wednesday launched a series of meetings with clean power groups, utilities, labor unions and others to develop detailed rules for some $270 billion in newly enacted incentives to jump-start green energy investments. U.S. Treasury Secretary Janet Yellen met with 16 industry groups representing …

U.S. Treasury launches industry outreach on clean energy tax credits Read More »

By Fergal Smith TORONTO (Reuters) – Canada’s main stock index rallied on Wednesday to its highest closing level in more than three weeks, as a smaller-than-expected interest rate hike by the Bank of Canada fueled hopes the central bank is nearing the end of its tightening cycle. The Toronto Stock Exchange’s S&P/TSX composite index ended …

Bank of Canada downshift helps lift TSX to three-week high Read More »

(Reuters) – Exxon Mobil Corp has made two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, the oil major said on Wednesday, potentially adding more barrels to one of the most closely watched new oil discoveries. Exxon did not disclose how much crude oil or gas it estimates the …

Exxon strikes oil again in Guyana with two new discoveries Read More »

(Reuters) -Australia and New Zealand Banking Group Ltd on Thursday reported a 5% rise in full-year cash profit as its home loans business improved and higher interest rates boosted margins in the second half. The country’s fourth-largest bank has been overhauling its home loan processing capabilities after failing to cash in on a COVID-driven housing …

ANZ’s annual cash profit rises 5% on home loan boost, higher interest rates Read More »

MONTREAL (Reuters) – WestJet Airlines’ planned purchase of leisure rival Sunwing would likely have “substantial anti-competitive effects” on sales of vacation packages, including higher prices and less choice, Canada’s Competition Bureau said on Wednesday. Calgary-based WestJet, which is owned by private equity firm Onex Corp ONEX.TO, said in March it would buy Ontario-based Sunwing and …

WestJet’s Sunwing deal likely to raise ‘substantial’ competition issues Read More »

By Abigail Summerville NEW YORK (Reuters) – Companies that are considering acquisitions should use a slowdown in deals to scope out potential targets, Anu Aiyengar, global co-head of mergers and acquisitions at JPMorgan Chase & Co, said Wednesday. M&A activity has stalled in the face of uncertainty over valuations, interest rates, inflation, recession prospects, consumer …

JPMorgan M&A co-head urges potential buyers to be proactive, sees more health deals Read More »

By David Shepardson (Reuters) – Kia will recall 71,000 2008-2009 model year Sportage vehicles in the United States previously recalled in 2016 for fire risks and is advising owners to park outside until repairs are completed. Kia said the recall fix is currently under development that will address the risk of a fire originating from …

Kia recalling 71,000 older U.S. Sportage vehicle for fire risks Read More »

(Reuters) – The Biden administration on Wednesday unveiled nearly $1 billion in awards to U.S. school districts to replace aging, gas-fueled school buses with cleaner, mainly electric models. The funding is the first tranche of $5 billion that the U.S. Environmental Protection Agency (EPA) will hand out over five years through a clean school bus …

U.S. awards $1 billion to electrify school bus fleets Read More »