By Sonali Paul MELBOURNE (Reuters) – Oil prices rose on Thursday following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the gap in output from Russia due to sanctions for its invasion of Ukraine. Brent crude futures were up $3.10, or 2.8%, at…
(Reuters) -Electric-car maker Tesla Inc on Wednesday raised prices of its U.S. Model Y SUVs and Model 3 Long Range sedans by $1,000 each and some China-made Model 3 and Model Y vehicles by 10,000 yuan ($1,582.40), according to its website. The company increased prices for the most affordable versions of Model 3 and Model…
(Refiles to correct headline to show company is Chevron and Phillips joint venture not Chevron unit) By Valerie Volcovici WASHINGTON (Reuters) -A joint venture between Chevron Corp and Phillips 66 has agreed to spend $118 million to upgrade and clean up three of its petrochemical plants on the Gulf Coast and pay a $3.4 million…
By Rocky Swift and Yuka Obayashi TOKYO (Reuters) – Resource-poor Japan depends overwhelmingly on fossil-fuel imports to meet its energy needs, complicating calls for the nation to boycott Russia’s oil and liquefied natural gas (LNG) after Moscow’s invasion of Ukraine. Here’s what’s at stake: WHAT’S IN JAPAN’S ENERGY MIX, AND WHY IS LNG SO IMPORTANT?…
LONDON (Reuters) -The risk of a Russian debt default is turning attention to the insurance policies known as Credit Default Swaps (CDS) that investors take out for this kind of situation. Here is how CDS work and why the situation in Russia means the situation might be more complicated than normal. WHAT ARE CREDIT DEFAULT…
TOKYO (Reuters) – Influential proxy advisory firm Institutional Shareholder Services (ISS) has advised against Toshiba Corp’s break-up plan to be put to a vote on March 24, the Nikkei business daily reported on Thursday. The Japanese conglomerate is aiming to break up into two companies and is due to hold an extraordinary shareholders’ meeting to…
Twitter has launched a privacy-protected version of its site to bypass surveillance and censorship after Russia restricted access to its service in the country. Russia has blocked access to Facebook and has limited Twitter in an attempt to try to restrict the flow of information about its war in Ukraine. Both companies have said they…
(Reuters) – United Airlines Holdings Inc will allow workers who have not been vaccinated against COVID-19 for religious or medical reasons to return at the end of this month, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The move permits staffers with exemptions from the carrier’s vaccination requirement for its…
(Reuters) – Brazilian cosmetics maker Natura & Co reported on Wednesday a 292% increase in fourth-quarter net income, pushed by structural changes and faster-than-expected synergy capture with Avon. The company reported a 695.4 million reais ($138.74 million)net profit, beating a Refinitiv forecast of 161 million reais. The company, which owns brands like Avon, The Body…
By Kanishka Singh (Reuters) -The United Arab Emirates is committed to the OPEC+ agreement and its existing monthly production adjustment mechanism, its energy minister said on Wednesday, hours after the Arab country’s ambassador to Washington said it favors an output increase. “The UAE believes in the value OPEC+ brings to the oil market,” UAE energy…
