By Jessica DiNapoli NEW YORK (Reuters) -Tide detergent maker Procter & Gamble Co faces a challenge to its Chief Executive Jon Moeller as its chairman of the board from environmental groups at its annual shareholder meeting on Tuesday, with some investors planning to vote against him in that role. Environmental non-profits including Friends of the…
By Laila Kearney NEW YORK (Reuters) – Oil prices sank by nearly 2% on Monday, after five straight sessions of gains, as investors worried that economic storm clouds could foreshadow a global recession and erode fuel demand. Brent crude futures settled at $96.19 a barrel, down $1.73, or 1.8%. West Texas Intermediate crude settled at…
OMAHA, Neb. (AP) — The U.S.’s third largest railroad union rejected a deal with employers Monday, renewing the possibility of a strike that could cripple the economy. B oth sides will return to the bargaining table before that happens. Over half of track maintenance workers represented by the Brotherhood of Maintenance of Way Employes Division…
PARIS (Reuters) – Airbus deliveries sped up in September, bringing the number of jets supplied so far this year to 437 and leaving the European planemaker what one analyst called a manageable task in the traditionally busy fourth quarter, despite supply chains snags. Airbus SE said it had handed over 55 aircraft during the month,…
(Reuters) – Oil major Exxon Mobil Corp is considering acquiring Denbury Inc, Bloomberg News reported on Monday, citing people familiar with the matter. Shares of Plano, Texas-based energy company Denbury rose 8% on the report. Exxon has expressed preliminary interest in Denbury, but no final decision has been made, the report said, adding the oil…
By Sergio Goncalves LISBON (Reuters) -Portugal unveiled its draft 2023 budget on Monday, projecting a steep slowdown in economic growth with high energy and food prices expected to weigh on private consumption, but still promising to further slash the public deficit. The document that the government submitted to parliament, where the ruling centre-left Socialists have…
By Andrea Shalal WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva on Monday said she hoped debt restructuring efforts for Zambia and Chad could be completed by the end of the year, which would pave the way for more countries to seek help. Georgieva, speaking with civil society groups at the start of…
BERLIN (AP) — German prosecutors on Monday opened an investigation into the suspected sabotage of two gas pipelines built to bring Russian gas to Germany under the Baltic Sea. Undersea explosions late last month ruptured the Nord Stream 1 pipeline, which until Russia cut off supplies at the end of August was its main supply…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) – The Nasdaq hit a two-year low on Monday as chipmakers bore the brunt of U.S. efforts to hobble China’s semiconductor industry, while investors treaded carefully ahead of the start of the earnings season. The Philadelphia SE Semiconductor index was down 2.7%, after the Biden administration published…
By Jan Strupczewski (Reuters) – The ongoing reform of EU fiscal rules could give governments more leeway in plans that combine debt cuts with investment and reforms, in exchange for greater accountability, the EU’s Economic Commissioner Paolo Gentiloni said on Monday. Speaking to an insurance conference in Rome, Gentiloni said the European Commission would present…
