Reuters US Business

MOSCOW (Reuters) -Top Russian oil producer Rosneft posted a 13% rise in half-year net profit on Thursday to 432 billion roubles ($7.22 billion) which it said was helped by tight cost controls. Russian oil firms have faced Western sanctions over Ukraine which have impeded their global trade and complicated financing. “Rosneft was under an unprecedented …

Rosneft first half profit jumps to $7.2 billion despite sanctions Read More »

By Marie Mannes and Anna Ringstrom STOCKHOLM (Reuters) -H&M reported on Thursday lower-than-expected quarterly sales as shoppers tighten their belts with energy and food bills soaring and the world’s second-biggest fashion retailer struggles to compete with rival Zara. Third-quarter net sales at the Swedish group were up 3% from a year earlier at 57.5 billion …

H&M sales miss as retailer struggles to compete with Zara Read More »

MILAN (Reuters) – Hong Kong-listed Italian luxury group Prada SpA has not decided whether to list in Milan as well, Chief Executive Patrizio Bertelli was quoted as saying on Thursday. A dual listing in Europe would help Prada widen its investor base, as some investment funds can only put money in European or U.S. stocks. …

Prada CEO says no decision yet on dual listing in Milan -report Read More »

(In paragraph 7, updates CME likelihood of 100 bps rate hike) By Stephen Culp NEW YORK (Reuters) – Wall Street ended a directionless session higher on Wednesday as an on-target inflation report largely stanched the flow of Tuesday’s sell-off and investors pressed the “pause” button. All three indexes wavered throughout the day, but ultimately ended …

Wall St staggers to higher close as Fed rate hike looms Read More »

By Marcela Ayres and Bernardo Caram BRASILIA (Reuters) – Brazil’s Economy Ministry is studying a target for the country’s substantial foreign exchange reserves, two sources told Reuters, as inflation remains the top concern of voters ahead of a presidential election. The plan would set a target with a minimum and maximum amount of foreign currency …

Brazilian ministry plans target for foreign reserves -sources Read More »

By Hernan Nessi and Miguel Lo Bianco BUENOS AIRES (Reuters) – Argentina’s monthly inflation blew past forecasts at 7% in August and soared to nearly 80% from a year earlier, a government agency reported on Wednesday, despite efforts by officials and central bankers to curb spiraling prices. The month-on-month inflation reading, reported by the INDEC …

Argentina inflation nears 80%; spiraling prices squeeze shoppers Read More »

By Valerie Volcovici WASHINGTON (Reuters) -Public relations firms go beyond their traditional task of marketing to help their oil and gas clients fight off climate policies and mislead the public about climate change, U.S. congressional Democrats said at a hearing on Wednesday. The House Natural Resource Committee’s oversight panel, led by U.S. Representative Katie Porter …

U.S. House Democrats probe PR firms work for oil, gas companies Read More »

By Daina Beth Solomon MEXICO CITY (Reuters) -Mexican officials have closed the latest labor complaint brought by the U.S. government under a regional trade agreement, saying on Wednesday that workers at auto-parts plant VU Manufacturing in northern Mexico were able to fairly elect their union. The U.S. government in July called for a probe into …

Mexico closes U.S. labor probe at VU Manufacturing under USMCA Read More »

By Paresh Dave and Diane Bartz SAN FRANCISCO (Reuters) -California filed a lawsuit against Amazon.com on Wednesday, alleging that the company violated antitrust law by blocking price competition and pushing up prices for consumers. California Attorney General Rob Bonta said Amazon’s rules bar merchants from selling products at lower prices on their own websites or …

California alleges Amazon.com stifled price competition in lawsuit Read More »