By Sabrina Valle HOUSTON (Reuters) -Occidental Petroleum Corp plans to use the bonanza from high oil and gas prices to accelerate debt payments and cash distribution to shareholders but will not raise oil production, Chief Executive Vicki Hollub said on Wednesday. White House officials have been urging oil producers to invest in more oil production …
Occidental to cut debt and distribute cash, won’t raise oil output Read More »
By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration’s acting chief will meet with FAA safety inspectors in South Carolina on Thursday before determining whether Boeing can resume deliveries of its 787 Dreamliner after production issues prompted the planemaker to stop deliveries in May 2021, an FAA spokesman said. The purpose of acting Administrator Billy …
FAA acting chief to meet inspectors before final Boeing 787 signoff Read More »
(Reuters) – Retail trading platform Robinhood Markets Inc disclosed in a filing on Wednesday that the U.S. Securities and Exchange Commission has been probing the company’s compliance with short selling rules since October 2021. Robinhood said it received additional requests from the SEC in the second quarter of this year for information related to the …
U.S. SEC probing Robinhood compliance with short selling rules -filing Read More »
SAO PAULO (Reuters) -South American e-commerce giant MercadoLibre Inc reported on Wednesday that its second-quarter net income rose 79.8% year-on-year, beating earnings forecasts. The company’s net income for the three-month period was $123 million, beating a Refinitiv forecast of $98.9 million. The company’s net revenue rose 56.5% in constant currency and 52.5% in dollars to …
Latam’s MercadoLibre profits soars, boosted by fintech division Read More »
(Reuters) -U.S. oil producer APA Corp reported a second-quarter profit that nearly tripled on Wednesday, bolstered by surging crude prices. Houston, Texas based APA is the latest oil and gas producer to post sharply higher profits, benefiting from surging oil prices after demand rebounded to pre-pandemic levels and sanctions on major energy producer Russia dented …
Oil producer APA’s second-quarter profit nearly triples Read More »
By David Shepardson WASHINGTON (Reuters) -Automakers want Democratic Senator Joe Manchin to revisit his proposal to restructure the $7,500 electric vehicle tax credit, raising fears it could be largely unworkable because of new sourcing requirements for battery components and critical minerals. Manchin on Tuesday expressed little interest in revising his proposal. “Tell (automakers) to get …
Automakers press U.S. Senator Manchin for changes to EV tax credit proposal Read More »
By Luiza Ilie CONSTANTA, Romania (Reuters) – At the Romanian Black Sea port of Constanta dockers have worked for months to ship out Ukrainian grain in addition to their usual loads from Romania and its land-locked neighbours. Shipments arrive constantly. The grain, which is poured onto conveyor belts in Constanta terminals, makes the air smell …
Romanian Black Sea port to keep shipping Ukrainian grain, seeks EU funding Read More »
LONDON (Reuters) – Business activity in the euro zone contracted slightly in July for the first time since early last year as consumers reined in spending amid a cost-of-living crisis, according to a survey which suggested the outlook for the economy was gloomy. S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a good …
Euro zone business activity contracted in July as customers stayed home Read More »
By Rodrigo Campos NEW YORK (Reuters) -Ukrainian state-owned gas company Naftogaz has laid out a new debt payment freeze plan, a week after becoming the first government entity to default since the start of the Russian invasion in late February. The energy company’s finances have been under strain since the war started as many of …
Ukraine’s Naftogaz sweetens deal for bondholders in search for debt relief Read More »
BERLIN (Reuters) – Germany’s services sector saw its six-month expansion come to an end in July as higher prices and growing concerns over gas supplies put the brakes on a post-lockdown rebound, a survey showed on Wednesday. S&P Global’s final services Purchasing Managers’ Index (PMI) fell to a final reading of 49.7 in July from …
Inflation, gas supply concerns end German services sector rebound -PMI Read More »
