By Shariq Khan NEW YORK (Reuters) – Oil settled over $80 a barrel on Tuesday and recorded its biggest daily gains in over a month, as investors bought up risk assets after U.S. data pointed to slowing inflation. The market was also buoyed by concerns about supply disruptions, including the ongoing shutdown of the Canada-to-United…
By Jared Higgs, Luc Cohen and Chris Prentice NASSAU, Bahamas/NEW YORK (Reuters) -U.S. prosecutors on Tuesday accused Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, of fraud and violating campaign finance laws, saying the investigation is ongoing and “moving very quickly.” U.S. Attorney Damian Williams in New York said Bankman-Fried made…
By Mahamat Ramadane and Sabrina Valle N’DJAMENA (Reuters) -Chad may ask its courts to block Savannah Energy’s purchase of Exxon Mobil Corp’s assets in the country, saying the final terms of the deal were substantially different from what had been presented to it a year ago. Exxon Mobil closed the $407 million sale of its…
By Takahiko Wada and Leika Kihara TOKYO (Reuters) – The Bank of Japan should change a policy statement so it has more flexibility to adjust interest rates instead of narrowly focusing on maintaining massive stimulus, Mana Nakazora, chief credit strategist at BNP Paribas Japan, told Reuters. Nakazora, also a member of a trade ministry panel…
WASHINGTON (AP) — Sam Bankman-Fried, founder and former CEO of the failed cryptocurrency exchange FTX, helped 1,500 Bahamian investors remove $100 million from their accounts while other customers around the world were locked out of the exchange, according to the company’s new CEO, who testified before a House committee Tuesday FTX CEO John Ray III,…
DEARBORN, Mich. (Reuters) – Ford Motor Co on Tuesday said it added a third work crew at an assembly plant near Detroit as it boosts production of its F-150 Lightning electric pickup truck. The U.S. automaker said it added 250 jobs in November at its Rouge plant in Dearborn, Michigan, as a result of the…
NEW YORK (AP) — After reaching 40-year highs over the summer, price increases in the U.S. are now steadily easing. Consumer inflation slowed to 7.1% in November from a year earlier and to 0.1% from October, the government said Tuesday. Stripping out volatile food and energy prices, so-called core inflation rose 6% over the past…
Moderna’s stock soared Tuesday after the COVID-19 vaccine maker detailed progress in developing a preventive shot for a deadly form of skin cancer. The company said a possible melanoma vaccine it is studying with pharmaceutical giant Merck fared well in a small study of patients who had the cancer surgically removed. The drugmakers said a…
BRUSSELS (AP) — European Union energy ministers failed yet again to overcome their deep differences Tuesday on a natural gas price cap that many hope would make utility bills cheaper so people can stay a little warmer during harsh winter days — if not this year, then later. The ministers emerged from their fifth emergency…
United Airlines said Tuesday that it ordered 100 new Boeing 787s, a large, twin-aisle jetliner, to replace planes that are nearing retirement age and allow United to expand its international flying. United also added to its order book for the smaller Boeing 737 Max, which is used on domestic flights. The companies did not disclose…
