Reuters US Business

By Nailia Bagirova BAKU (Reuters) -Exxon Mobil and Azeri state energy company SOCAR said on Monday they signed a deal agreeing to explore onshore oil and gas production in Azerbaijan, while BP is expected to buy into new Azeri offshore fields, according to three sources. Azerbaijan’s production mainly relies on mature oil fields in the …

Exxon signs agreement with Azerbaijan’s SOCAR to explore onshore oil production Read More »

By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court declined on Monday to hear a challenge by broker-dealer Alpine Securities claiming that the enforcement power given by the federal government to the Financial Industry Regulatory Authority, Wall Street’s self-regulator, is unconstitutional. The justices turned away Salt Lake City-based Alpine’s appeal of a lower court’s ruling …

US Supreme Court turns away challenge by Alpine Securities to FINRA Read More »

(Reuters) -The administration of U.S. President Donald Trump on Monday proposed rolling back Biden-era limits on oil and gas drilling in an Alaska area that is the nation’s largest tract of undisturbed public land. The move is consistent with Trump’s goal to slash regulations for oil and gas development and increase domestic fuels production as …

Trump administration proposal would lift Biden-era limits on Alaska oil drilling Read More »

By Arasu Kannagi Basil (Reuters) -Digital banking startup Chime Financial said on Monday it was targeting a valuation of up to $11.2 billion on a fully diluted basis in its long-awaited New York initial public offering, underscoring the growing momentum in the new listings market. San Francisco, California-based Chime and some of its existing shareholders …

Digital banking startup Chime targets $11.2 billion valuation in US IPO Read More »

(Reuters) -Meta Platforms aims to allow brands to fully create and target advertisements with its artificial intelligence tools by the end of next year, the Wall Street Journal reported on Monday, citing people familiar with the matter. The social media company’s apps have 3.43 billion unique active users globally and its AI-driven tools help create …

Meta aims to fully automate advertising with AI by 2026, WSJ reports Read More »

By Neil J Kanatt (Reuters) -Prego pasta sauce maker Campbell’s Co beat third-quarter sales and profit estimates on Monday, helped by strong demand for canned food and soups as consumers increasingly prefer to eat at home amid an uncertain economy. Fears of a potential recession and price hikes triggered by the imposition of hefty tariffs …

Canned soup maker Campbell’s beats estimates as eat-at-home trend boosts demand Read More »

By Suzanne McGee and Nupur Anand NEW YORK (Reuters) -JPMorgan Chase CEO Jamie Dimon said on Monday that the rising U.S. national debt is a “big deal” that could create a “tough time” for the bond market that causes spreads to widen, he told Fox Business’ “Mornings with Maria” program. The comments echo his earlier …

JPMorgan CEO Jamie Dimon tells Fox Business US debt could cause bond turmoil Read More »

By Matt Tracy (Reuters) -U.S. life insurers moved nearly $800 billion in reserves to offshore affiliates between 2019 and 2024, as the growth of private credit has transformed the sector and presented several risks along with it, according to a new Moody’s Ratings report. As interest rates fell to near-zero between 2015 and early 2020, …

US life insurers shifted $800 billion offshore from 2019 to 2024, Moody’s says Read More »