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DOJ probing Disney-FuboTV deal over competition concerns, Bloomberg News reports

23 Apr 2025

(Reuters) -Officials at the U.S. Department of Justice are probing Disney’s deal to take a controlling stake in streaming company FuboTV, Bloomberg News reported on Wednesday, citing people familiar with the plans. The DOJ is looking into whether the deal would unduly concentrate the market for sports streaming, the report said. The Justice Department declined …

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Baker Hughes forecasts drop in producer spending as tariffs pinch demand

23 Apr 2025

By Arathy Somasekhar and Mrinalika Roy HOUSTON (Reuters) -U.S. oilfield service provider Baker Hughes on Wednesday forecast steeper drops in spending by global oil producers as tariffs dent demand expectations and push down prices for crude. Baker Hughes echoed rival Halliburton’s concerns on Tuesday, that weak oil prices could push down oilfield activity in North …

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NextEra beats profit estimates as power company skirts trade risk

23 Apr 2025

By Laila Kearney and Arunima Kumar (Reuters) -NextEra Energy beat Wall Street estimates on Wednesday on rising electricity demand as the giant U.S. power provider works to maneuver around intensifying global trade risks, its CEO said. Rising costs brought by U.S. President Donald Trump’s tariff fight threaten to slow a recent surge in electricity demand …

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US crude stockpiles post surprise build as imports jump, EIA says

23 Apr 2025

By Stephanie Kelly NEW YORK (Reuters) -U.S. crude oil stockpiles rose unexpectedly last week as imports jumped, while both gasoline and distillate inventories fell more than expected, the Energy Information Administration said on Wednesday. Crude inventories rose by 244,000 barrels to 443.1 million barrels in the week ended April 18, the EIA said, compared with …

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US Treasury’s Bessent urges IMF, World Bank to refocus on core missions

23 Apr 2025

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness. Bessent, in remarks outlining his vision for …

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US oil refiners’ Q1 profits likely fell despite stronger margins

23 Apr 2025

By Nicole Jao NEW YORK (Reuters) – Investors are expecting top U.S. refiners to report quarterly losses, even as their margins improve, as they brace for the ripple effect from U.S. President Donald Trump’s sweeping tariffs, energy analysts said. Fuelmakers have seen earnings tumble from record levels in 2022, when a recovery in demand following …

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GE Vernova’s quarterly revenue beats on strength in power, electrification units

23 Apr 2025

By Vallari Srivastava (Reuters) -GE Vernova reported first-quarter revenue that beat analysts’ estimates on the back of strength in its power and electrification units, sending the company’s shares up nearly 9% on Wednesday. The results come at a time when the power industry is bracing for the impact of the Trump administration’s policies and sweeping …

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Rogers Communications adds lower-than-expected subscriptions amid immigration changes

23 Apr 2025

By Kritika Lamba (Reuters) – Rogers Communications posted lower-than-expected quarterly subscriber additions on Wednesday, as the Canadian wireless giant grapples with strict immigration practices. Canada’s recent policy changes and a crackdown on immigration have had an impact on demand, as carriers have relied on newcomers to expand its customer base. Rogers posted 11,000 monthly bill-paying …

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AT&T leans on bundled plans to beat estimates for subscriber additions

23 Apr 2025

By Harshita Mary Varghese (Reuters) – AT&T beat Wall Street estimates for wireless subscriber additions in the first quarter on Wednesday, driven by steady demand for its plans that bundled high-speed fiber services and 5G mobile offerings. The U.S. wireless carrier’s focus on bundling to fend off intense competition in a saturating market and aggressive …

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