February 11, 2022

By Arathy Somasekhar (Reuters) -Oil prices ended 3% higher on Friday at fresh seven-year highs as escalating fears of an invasion of Ukraine by Russia, a top energy producer, added to concerns over tight global crude supplies. Russia has massed enough troops near Ukraine to launch a major invasion, Washington said, as it urged all…

By Bansari Mayur Kamdar and Noel Randewich (Reuters) – Wall Street stocks fell sharply on Friday for the second straight day, as investors fretted about potential steep U.S. interest rate hikes as well as deepening tensions between Russia and Ukraine. Most of the 11 major S&P 500 sector indexes declined, led by technology and consumer…

WASHINGTON (Reuters) – The Justice Department wants to depose some of Apple’s top executives as it prepares for a trial to determine if Alphabet’s Google broke antitrust law in how it runs its search business, a lawyer representing Apple said on Friday. In its complaint, the Justice Department accused Google of paying billions of dollars…

By A. Ananthalakshmi KUALA LUMPUR (Reuters) – Ten former workers from Dyson’s biggest parts supplier, Malaysian firm ATA IMS, are claiming compensation from the home appliance maker over poor working and living conditions at ATA factories, a law firm representing them said on Friday. The ex-employees allege that “Dyson was unjustly enriched as a result…

(Reuters) – Intel Corp on Friday launched a new chip for blockchain applications such as Bitcoin mining and minting NFTs to cash in on the rising usage of cryptocurrencies. The chip will ship later this year and the first customers include Block Inc, the Jack Dorsey-led firm that recently changed its name from Square Inc…

By Francesco Guarascio and Wendell Roelf BRUSSELS/CAPE TOWN (Reuters) -The European Union and the Gates Foundation are set to announce financial support for nascent efforts to set up an African medicines regulator to boost the continent’s drugs and vaccine production, a person familiar with the matter told Reuters. The treaty establishing the African Medicines Agency…

By Arathy Somasekhar (Reuters) -Oil prices rose 2% on Friday after the International Energy Agency (IEA) said oil markets were tight, but crude benchmarks were still headed for weekly losses on jitters about looming U.S. interest rate hikes and concern that U.S.-Iran talks which could boost global supplies. Brent crude futures rose $1.52, or 1.7%,…

By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer sentiment fell to its lowest level in more than a decade in early February amid expectations that inflation would continue to increase in the near term, but that was unlikely to derail spending against the backdrop of excess savings and a strengthening labor market recovery. The decline in…

By Svea Herbst-Bayliss BOSTON (Reuters) – US Foods Holding Corp said on Friday it has split its chief executive officer and chairman roles after coming under pressure from an activist investment firm to improve its operations. Pietro Satriano will remain the company’s CEO and have a board seat, while Robert Dutkowsky, the board’s lead independent…