MOSCOW (Reuters) -The Kremlin on Sunday praised OPEC+ for agreeing production cuts that had successfully countered the “mayhem” sown by the United States in global energy markets. The OPEC+ decision to cut oil production despite stiff U.S. opposition has further strained already tense relations between President Joe Biden’s White House and Saudi Arabia’s royal family, …
Kremlin praises OPEC+ for countering U.S. ‘mayhem’ Read More »
By Andres Gonzalez, Svea Herbst-Bayliss and David Randall LONDON/NEW YORK (Reuters) – Elon Musk’s $44 billion Twitter takeover saga comes with all the drama necessary to be immortalised in case studies for future captains of industry, as the tycoon’s on-off pursuit of the social media platform and unique management style make for a union like …
Musk’s acrimonious Twitter bid heads for business school case study immortalization Read More »
By Eliana Raszewski BUENOS AIRES (Reuters) – Argentina will regulate import authorizations more closely in an effort to prevent fraud and preserve reserves of U.S. dollars, Economy Ministry sources said on Saturday. The new system will include verification that the size of an importer’s request is consistent with its financial resources; requiring importers to designate …
Argentina to tighten import controls to preserve dollars Read More »
ANKARA (Reuters) – Turkish President Tayyip Erdogan vowed on Saturday that the central bank would continue to cut its policy interest rates every month for as long as he stayed in power, after it surprised markets by cutting rates twice in the last two months. “As long as this brother of yours is in this …
Turkey’s Erdogan says he will keep cutting rates “as long as I am in power” Read More »
MILAN (Reuters) – The Italian economy will grow more than expected in 2022 but will stagnate in 2023, the country’s main business lobby said on Saturday, warning that tensions between the European Union and Russia over gas supplies made the outlook highly uncertain. In a report Confindustria downgraded its expectation for GDP growth in 2023 …
Italy business lobby cuts 2023 economy growth forecast to zero on energy concerns Read More »
TAIPEI (Reuters) – Taiwanese semiconductor companies attach “great importance” to complying with the law, the island’s government said on Saturday, signalling they would comply with new U.S. export controls that aim to hobble China’s chip industry. The rules announced Friday by President Joe Biden’s administration include a measure to cut China off from certain chips …
Taiwan signals its chip firms will follow new U.S. rules on China Read More »
By Marianna Parraga and Gary McWilliams HOUSTON (Reuters) -A U.S. judge could rule soon on a final auction schedule that could force a breakup of Venezuela-owned Citgo Petroleum, the seventh-largest U.S. oil refiner by capacity, according to court filings. U.S. District Judge Leonard P. Stark last year approved the sale of shares in Citgo’s parent …
U.S. judge to set auction calendar for shares in Citgo parent Read More »
BEIJING (Reuters) – China’s services activity in September contracted for the first time in four months, as COVID-19 restrictions dented already fragile demand and dimmed business confidence, a private-sector business survey showed on Saturday. The Caixin services purchasing managers’ index (PMI) fell to 49.3 from 55.0 in August as COVID containment measures disrupted supply and …
China’s services activity falls for first time since May – Caixin PMI Read More »
(Reuters) -Rivian Automotive Inc said on Friday it will recall nearly all of its vehicles due to a possible issue of loose fastener that could make a driver lose steering control. California-based Rivian is recalling about 13,000 vehicles after it discovered that a fastener connecting the front upper control arm and steering knuckle may not …
Rivian recalls 13,000 vehicles due to possible loose fastener Read More »
By Herbert Lash, Shreyashi Sanyal and Ankika Biswas (Reuters) – Wall Street fell sharply on Friday following a solid jobs report for September that increased the likelihood the Federal Reserve will barrel ahead with an interest rate hiking campaign many investors fear will push the U.S. economy into a recession. The Labor Department reported the …
Wall Street ends sharply lower as jobs report cements rate hike regime Read More »
