By Bharat Gautam (Reuters) – Gold prices held ground near a three-month low on Friday as the strongest dollar in two decades continued to sap demand for greenback-priced bullion, setting up what could be the metal’s fourth consecutive weekly fall. In choppy price action, spot gold was flat at $1,823.25 per ounce, as of 0244…
By Andrew Galbraith SHANGHAI (Reuters) – Asian shares found some footing after a volatile session for U.S. equities, but the dollar remained at 20-year highs and global stocks near 18-month lows on worries about persistently high inflation and tightening central banks. Those worries ultimately overcame hopes on Wall Street that high inflation might be peaking,…
TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki said on Friday recent sharp yen moves were undesirable, repeating his warning to markets against pushing down the currency too much. “We will closely watch with a sense of urgency currency moves and their impact on Japan’s economy,” Suzuki told parliament. (Reporting by Leika Kihara; Editing by…
HOUSTON (Reuters) – Nine U.S. Gulf Coast refineries exceeded the federal regulatory action level between 2018 and 2020 for pollution from benzene, which causes cancer, according to a study by the Environmental Integrity Project (EIP) released on Thursday. The nine are among 56 U.S. refineries with high benzene levels, the study said. Sixty-four percent of…
TOKYO (Reuters) – More than 10 investment funds are considering making strategic proposals, including a potential buyout, to Toshiba Corp after the Japanese conglomerate said it would solicit deal offers, national broadcaster NHK reported on Friday. Those investment funds, which include both Japanese and overseas-based funds, have already signed initial contracts, the report said. Toshiba,…
By Jane Lanhee Lee SAN FRANCISCO (Reuters) – SoftBank Group Corp’s chip technology firm Arm Ltd on Thursday reported record revenue for 2021, and Chief Executive Rene Haas told Reuters its business for new chip designs indicates a strong outlook. SoftBank plans to take the British tech company public. Regulatory hurdles stopped a deal to…
By Sheila Dang (Reuters) -Two senior Twitter leaders who oversee the consumer and revenue divisions will depart the social media company, Chief Executive Officer Parag Agrawal told employees in a memo on Thursday, in one of the biggest shake-ups at the company since billionaire Elon Musk announced he would buy it for $44 billion. Agrawal…
By Arathy Somasekhar HOUSTON (Reuters) – The volume of crude oil flowing on pipelines from the top U.S. shale field to export hubs on the U.S. Gulf Coast could surge to pre-pandemic levels by October, analysts said, signaling the end of desperate days for some Texas oil pipeline operators. The pandemic doused a shale-oil pipeline…
NEW YORK (AP) — The CEO of cryptocurrency exchange FTX has bought a 7.6% stake in Robinhood Markets, according to a filing with U.S. regulators on Thursday. Samuel Bankman-Fried said in the filing that he bought the shares thinking they were an attractive investment and that he doesn’t currently have any plans to change or…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For weeks, Powell has portrayed the Fed’s drive to raise interest rates…
