By Lucia Mutikani WASHINGTON (Reuters) – New orders for U.S.-made capital goods increased less than expected in April, suggesting businesses could be slowing their pace of spending on equipment as they confront growing headwinds from rising interest rates and tightening financial conditions. The mixed report from the Commerce Department on Wednesday followed on the heels…
There has been one common theme in first-quarter earnings reports- Shipping costs are elevated. This has been detrimental to gross margins for most companies. The Dry bulk shipping industry though has thrived. We want to put a couple of shipping names on your radar. The dry bulk industry is cyclical as it is tied so…
By David Gaffen New York (Reuters) – Oil prices rose on Wednesday, buoyed by tight supplies and as U.S. refiners drove processing activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July rose by 48 cents to $114.03 a barrel by 10:50 a.m. EDT (1450 GMT). U.S. West Texas…
By Dietrich Knauth (Reuters) -Teva Pharmaceutical Industries and AbbVie’s Allergan unit reached a settlement worth $161.5 million to resolve claims the companies fueled an opioid epidemic in West Virginia, state attorney general Patrick Morrisey said Wednesday. The agreement is the largest state-negotiated settlement in West Virginia history, and consists of $134 million in cash plus…
Russia says it will pay dollar-denominated foreign debt in rubles, a move that is likely to be seen by foreign investors as a default. The U.S. Treasury Department led by Janet Yellen allowed a license to expire Wednesday that permitted Russia to keep paying its debtholders through American banks. The license applied to American investors…
By Ross Kerber (Reuters) -BlackRock Inc Chief Executive Laurence Fink on Wednesday said clients must decide for themselves how to navigate the energy transition, positioning the world’s largest asset manager in the middle ground of a debate over what role financial companies should play in addressing climate change. Speaking at the company’s annual shareholder meeting,…
By Benjamin Mallet PARIS (Reuters) -TotalEnergies’ shareholders on Wednesday voted in favour of the French oil and gas company’s climate strategy at an annual meeting as protesters outside denounced the group’s environmental toll and its business in Russia. Support at 88.89% was down from 91.88% last year when shareholders voted in favour of the climate…
By Paul Lienert (Reuters) – Silicon Valley startup Solo Advanced Vehicle Technologies has partnered with Michigan-based Advanced Battery Solutions (ABS) to develop battery packs for its new driverless electric heavy-duty truck, Solo AVT’s chief executive told Reuters. “We’re focused on decarbonizing the logistics industry,” CEO and founder Graham Doorley said in an interview, adding the…
By Marc Jones LONDON (Reuters) – Stock markets stalled and the dollar moved off a 1-month low on Wednesday as traders waited for news on just how aggressively the U.S. Federal Reserve – the world’s most influential central bank – might jack up interest rates in the coming months. Nerves about a global recession were…
By Aditya Kalra DAVOS, Switzerland (Reuters) – India has no immediate plans to lift a ban on wheat exports, but will continue with deals which are done directly with other governments, Commerce Minister Piyush Goyal told Reuters. The world’s second biggest producer of wheat banned private overseas sales of the grain on May 14 after…
