By Nora Buli and Nerijus Adomaitis SANDEFJORD, Norway (Reuters) -ConocoPhillips submitted on Monday a plan to develop an oil discovery in the Norwegian North Sea for 10.5 billion Norwegian crowns ($1.10 billion), the first of an expected rush of new petroleum projects to be launched in Norway this year. Known as Eldfisk North, the development…
WASHINGTON (Reuters) – The U.S. Federal Reserve can stick to half point interest rate hikes for the next two to three meetings then assess how the economy and inflation are responding before deciding whether further rises are needed, the Atlanta Fed president said. The half point increase approved by the Fed last week “is already…
MILAN (AP) — Italian Premier Mario Draghi meets with U.S. President Joe Biden this week in Washington as Europe faces another “whatever it takes” moment with Russia’s war in Ukraine raging on its eastern flank. Both Rome and Washington will emphasize their historic friendship and shared desire to help Ukraine defend itself from Russia’s two-month-old…
FRANKFURT (Reuters) -BioNTech’s first-quarter sales and earnings more than tripled thanks to demand for the COVID-19 vaccine it developed with Pfizer, but the German biotech firm is still forecasting a full-year decline in vaccine sales. Quarterly revenues more than tripled from a year earlier to 6.37 billion euros ($6.73 billion), as did net income, to 3.70 billion…
SAO PAULO (Reuters) – Brazilian airline Azul SA said on Monday it expects its earnings before interest, taxes, depreciation and amortization (EBITDA) to reach a record of about 4 billion reais ($787.42 million) in 2022. Available seat kilometers (ASK) are expected to grow 10% in 2022 from pre-pandemic 2019 levels, Azul said in a securities…
By Saikat Chatterjee LONDON (Reuters) – The U.S. dollar climbed to a two-decade high on Monday as rising U.S. Treasury yields prompted hedge funds to add to their bullish bets while the Chinese yuan weakened below 6.77 levels after weak trade data. The latest leg of the dollar’s rise, which began after the Federal Reserve…
SAO PAULO (Reuters) – The technical body of Brazilian antitrust watchdog Cade has recommended the approval of the acquisition of pharmacy chain Extrafarma by rival Pague Menos, the company said on Monday. Cade’s technical body has recommended that Extrafarma sells around 3% of its stores to eliminate competition concerns, the company added. The agreement needs…
DUBLIN (Reuters) – Air Lease Corp is pursuing “vigorous” insurance claims over jets stranded in Russia following changes in the law preventing their repossession, Steven Udvar-Hazy, founder and executive chairman of the U.S. lessor, told the Airline Economics conference. It would have been difficult for the leasing industry to prepare for such a “once in…
SANDEFJORD, Norway (Reuters) -ConocoPhillips submitted on Monday a plan to develop an oil discovery in the Norwegian North Sea for 10.5 billion Norwegian crowns ($1.10 billion), the U.S. petroleum company said. Known as Eldfisk North, the development is part of the wider Ekofisk area, where oil has been pumped for more than 50 years, and…
DUBLIN (Reuters) – Airlines have been warned that the days of abnormally cheap financing costs are over, pointing to higher lease rates amid changes in the way risk is managed after the war in Ukraine. New money has poured into aviation over the past decade as investors sought refuge from low bond rates in the…
