STAVANGER, Norway (Reuters) – The world must continue to extract oil and gas in order to sustain civilisation, while continuing to also develop sustainable sources of energy, Tesla founder Elon Musk told reporters at a conference in Norway on Monday. “Realistically I think we need to use oil and gas in the short-term, because otherwise…
MOSCOW (Reuters) – The Russian rouble steadied near its lowest in more than a week against the dollar in early Moscow trade after the peak of a favourable tax payments period passed and as Russian stocks clipped a two-month high. At 0732 GMT, the Russian currency was 0.1% weaker against the dollar at 60.55. After…
TOKYO (Reuters) – Olympus Corp said on Monday it had agreed to sell its microscope unit to private equity firm Bain Capital for 427.6 billion yen ($3.1 billion), in what would be the Japanese company’s biggest divestment yet. The sale of the unit, which also makes industrial endoscopes and x-ray analysers, comes as Olympus speeds…
By Wayne Cole SYDNEY (Reuters) – Asian shares slid on Monday as a mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields and the dollar sharply higher while also stoking fears of a global recession. Federal Reserve Chair Jerome Powell’s promise of policy “pain” to contain inflation quashed…
By Praveen Menon and Sameer Manekar (Reuters) -Australian miner Fortescue Metals Group Ltd said on Monday its annual profit fell 40% despite record shipments of iron ore, due to declining prices of the steelmaking material amid cooling demand from top consumer China. The profits of Fortescue, the world’s fourth-largest iron ore miner, were still the…
