By Noah Browning and Bozorgmehr Sharafedin (Reuters) -Oil prices rose on Monday with investors betting that global supply will remain tight, although restraint by major producers was partially offset by a rise in Libyan output. Brent crude settled up 42 cents, or 0.5%, to $86.48 a barrel. Earlier in the session, the contract touched its…
By David Shepardson WASHINGTON (Reuters) -The chief executives of major U.S. passenger and cargo carriers on Monday warned of an impending “catastrophic” aviation crisis on Wednesday when AT&T and Verizon are set to deploy new 5G service. The airlines warned the new C-Band 5G service could potentially make a significant number of widebody aircraft unusable…
By Belén Carreño and Andreas Rinke MADRID (Reuters) -German Chancellor Olaf Scholz gave Spanish Socialist Prime Minister Pedro Sanchez no indication his left-leaning government is ready to support a relaxation of EU fiscal rules, even as the two agreed on Monday to work closer together on European policies. Sanchez had high expectations of Monday’s visit…
By Oliver Hirt, Sumeet Chatterjee and John O’Donnell ZURICH/FRANKFURT/HONG KONG (Reuters) – After taking over as chairman of Credit Suisse, Antonio Horta-Osorio pledged to develop a culture of personal accountability at the Swiss bank following a string of scandals. That promise ultimately sealed his fate as he was forced to resign after barely eight months…
MEXICO CITY (Reuters) – U.S. Energy Secretary Jennifer Granholm will travel to Mexico this week for talks, with the government’s planned overhaul of the Mexican electricity market potentially on the agenda, President Andres Manuel Lopez Obrador said on Monday. The United States has voiced concerns about an initiative championed by Lopez Obrador which aims to…
By Julie Gordon OTTAWA, Jan 17 (Reuters) – Canadian firms see labor shortages intensifying and wage pressure increasing, with strong demand growth and supply chain constraints putting upward pressure on prices, a regular Bank of Canada survey said on Monday. The central bank’s Business Outlook Survey Indicator reached its highest level on record in the…
By Pushkala Aripaka, Keith Weir and Pamela Barbaglia (Reuters) -Unilever signalled on Monday it would pursue a deal for GSK’s consumer healthcare arm, calling it a “strong strategic fit”, but its shares fell more than 8%, highlighting investors’ doubts about its 50-billion-pound ($68.4 billion) offer. GlaxoSmithKline confirmed over the weekend that it had rejected nL1N2TV079…
By Jesús Aguado MADRID (Reuters) – Spain moved on Monday to regulate rampant advertising of crypto assets, including by social media influencers, tasking the stock market supervisor with authorising mass campaigns and making sure investors are aware of risks. The rapid growth of cryptocurrencies and digital assets pegged to traditional currencies has drawn attention from…
By Elizabeth Howcroft LONDON (Reuters) -European shares recovered from Friday’s losses on Monday as investors focused on company earnings and U.S. Federal Reserve policymakers entered a quiet period ahead of their meeting next week. Stock market moves in Asian trading were small and economic data from China was mixed: industrial output picking up but retail…
By Anshuman Daga and Oliver Hirt SINGAPORE/ZURICH (Reuters) – Credit Suisse will stick to its strategic overhaul despite the abrupt departure of its mastermind Antonio Horta-Osorio following an internal probe into his personal conduct, including breaches of COVID-19 rules, the bank’s new chairman said on Monday. Horta-Osorio leaves less than nine months after he joined…
