PANAMA CITY (Reuters) – The Panamanian government said it rejected Canada-based miner First Quantum’s legal proceedings to avoid halting operations at the Cobre Panama mine, according to a statement from its commerce and industry ministry published Friday. The mining firm was notified on December 21 of a government order for it to create a plan…
By Echo Wang (Reuters) – U.S. stocks closed out 2022 lower on Friday, capping a year of sharp losses driven by aggressive interest rate hikes to curb inflation, recession fears, the Russia-Ukraine war and rising concerns over COVID cases in China. Wall Street’s three main indexes booked their first yearly drop since 2018 as an…
By Michael Erman and Julie Steenhuysen NEW YORK (Reuters) – Drugmakers including Pfizer Inc, GlaxoSmithKline PLC, Bristol Myers Squibb, AstraZeneca PLC and Sanofi SA plan to raise prices in the United States on more than 350 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors. The increases are…
By Hannah Lang WASHINGTON (Reuters) – The dollar was on track to post its best year since 2015 on Friday in the last trading day of a year dominated by Federal Reserve rate hikes and fears of a sharp slowdown in global growth. As 2022 draws to a close, the dollar was set to notch…
By Michael S. Derby NEW YORK (Reuters) – Just over half of the 50 U.S. states are exhibiting signs of slowing economic activity, breaching a key threshold that often signals a recession is in the offing, new research from the St. Louis Federal Reserve Bank report said. That report, released Wednesday, followed another report from…
By Laila Kearney NEW YORK (Reuters) -Oil was on track for a second straight annual gain in a turbulent year marked by tight supplies following the war in Ukraine, weakening demand from the world’s top crude importer China and fears over global economic contraction. Crude surged in March with international benchmark Brent reaching $139.13 a…
By Lewis Krauskopf NEW YORK (Reuters) – U.S. stock investors could not be more eager to turn the page on 2022, a brutal year dominated by market-punishing Federal Reserve rate hikes designed to tamp down the steepest inflation in 40 years. The S&P 500 is down nearly 20% year-to-date with less than a day of…
By Marianna Parraga HOUSTON (Reuters) -U.S. oil company Chevron Corp is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data. On Friday, a Chevron-chartered vessel approached the South…
LONDON (Reuters) -Global insurance losses for natural catastrophes are projected to reach $112 billion in 2022, reinsurance broker Guy Carpenter said on Friday, driven by the impact of Hurricane Ian which hit Florida earlier this year. Flood and hail in Europe, Australian floods and severe storms in the United States also contributed to the total,…
By Alex Lawler LONDON (Reuters) -Oil rose on Friday and was on track for a second straight annual gain in a volatile year marked by tight supplies because of the Ukraine war and weakening demand from the world’s top crude importer, China. Crude surged in March with global benchmark Brent reaching $139.13 a barrel, the…
