By Isabel Kua and Arathy Somasekhar SINGAPORE (Reuters) -Oil prices edged higher on Wednesday on hopes of a recovery in fuel demand as China continues to ease its COVID-19 restrictions, though gains were capped by recession concerns and restarts at some U.S. energy plants shut by winter storms. Brent futures for February delivery rose 9…
SINGAPORE (Reuters) – U.S. liquefied natural gas (LNG) developer NextDecade Corp announced it will increase the volume of LNG supplies in a sales and purchase agreement signed with China’s ENN Natural Gas Co. Ltd.. Under the agreement, ENN via a wholly-owned subsidiary ENN LNG (Singapore) Pte Ltd, will now purchase 2 million tonnes per annum…
(Reuters) – Gilead Sciences will buy all the remaining rights for an experimental cancer therapy, GS-1811, from Jounce Therapeutics for $67 million, the drugmaker said on Tuesday. The amended licensing deal will bolster Jounce’s cash resources in a challenging market for biotech companies. Shares of Jounce more than doubled to $1.68, while Gilead’s shares fell…
By David Shepardson and Alexandra Alper (Reuters) -Southwest Airlines came under fire from the U.S. government on Tuesday after it canceled thousands of flights, and its boss, Bob Jordan, said the low-cost carrier needed to upgrade its legacy airline systems. U.S. airlines have canceled thousands of flights as a massive winter storm swept over much…
By Kantaro Komiya TOKYO (Reuters) -Japanese factories slashed output for a third consecutive month in November, dragged down by weak demand for machinery products amid a deteriorating global economic outlook. The weak production bodes ill for Japanese firms as they face growing calls to raise workers’ pay to counter inflation, seen as essential for the…
By Jonathan Stempel NEW YORK (Reuters) – U.S. prosecutors have filed criminal charges of commodities fraud and manipulation against a man accused of trying to steal about $110 million in October by rigging the Mango Markets cryptocurrency exchange. According to a complaint made public on Tuesday in Manhattan federal court, Avraham Eisenberg’s trades in futures…
By Sinéad Carew NEW YORK (Reuters) – The S&P 500 and the Nasdaq closed lower on Tuesday after the release of U.S. economic data at the start of a holiday-shortened week while bond yields rose after China said it would scrap its COVID-19 quarantine rule for inbound travelers. U.S. Treasury yields rose as investors tried…
By Stephen Culp NEW YORK (Reuters) – Wall Street ended lower at the beginning of a holiday-shortened week on Tuesday, as rising U.S. Treasury yields pressured interest rate sensitive megacap shares. Growth stocks dragged the tech-laden Nasdaq down the most. The S&P 500 joined the Nasdaq in negative territory. “Higher (Treasury) yields are pressuring growth…
(Reuters) – Tesla Inc shares fell 8% on Tuesday after a Reuters report that Tesla was planning to run a reduced production schedule in January at its Shanghai plant sparked worries of a drop in demand in the world’s biggest car market. The stock, which fell to its to lowest in more than two years,…
TOKYO (Reuters) – The Japanese government has asked insurers to take on additional risks to continue providing marine war insurance for liquefied natural gas (LNG) shippers in Russian waters, a senior official at the industry ministry said. The Financial Services Agency and Agency for Natural Resources and Energy made the rare request in a joint…
