HOUSTON (Reuters) – HOUSTON, Aug 11 (Reuters) – U.S. oil refiner Citgo Petroleum on Thursday reported a second quarter profit that surged to $1.28 billion on higher crude processing volumes and stronger margins. The eighth largest U.S. oil refiner’s three plants processed 776,000 barrels of oil per day (bpd), up from 732,000 bpd a year…
WASHINGTON (AP) — Whether it’s the fitness tracker on your wrist, the “smart” home appliances in your house or the latest kids’ fad going viral in online videos, they all produce a trove of personal data for big tech companies. How that data is being used and protected has led to growing public concern and…
NEW YORK (AP) — World Central Kitchen founder Jose Andres, Jordan’s Queen Rania, BlackRock CEO Larry Fink and “Hamilton” creator Lin-Manuel Miranda will help relaunch the Clinton Global Initiative in September, when the gathering of international dignitaries returns after six years. The two-day meeting Sept. 19 and 20 in New York is built around a…
By David Shepardson WASHINGTON (Reuters) – California’s High-Speed Rail Authority said Thursday it won $25 million in new federal grant funding to advance its project beyond 119 miles under construction, while pursuing an additional $1.3 billion award. The U.S. Transportation Department (USDOT) grant will provide more than half of the estimated $41 million for a…
(Reuters) – A U.S. appeals court upheld a 2020 ruling that tossed out a racketeering lawsuit General Motors Co filed against rival Fiat Chrysler Automobiles (FCA), now part of Stellantis NV, and former executives. GM filed the racketeering lawsuit in November 2019, alleging FCA bribed United Auto Workers (UAW) union officials over many years to…
By Anthony Esposito and Isabel Woodford MEXICO CITY (Reuters) -The Bank of Mexico hiked its benchmark interest rate by three-quarters of a percentage point to a record 8.5% on Thursday, mirroring the U.S. Federal Reserve’s most recent policy decision as inflation surged to an over two-decade high. The five board members of Banxico, as the…
By Natalie Grover and Danilo Masoni LONDON (Reuters) – Shares in GSK, Sanofi and Haleon fell sharply on Thursday, following declines earlier this week, amid growing investor concerns about U.S. litigation focused on a heartburn drug that contained a probable carcinogen. Around 1400 GMT, GSK shares were down 6.8%, Sanofi’s were down 6.9% and Haleon’s…
By Bansari Mayur Kamdar and Aniruddha Ghosh (Reuters) – The S&P 500 was trading at its highest level in more than three months on Thursday, extending a rally from the previous session as fresh evidence of cooling inflation further cemented hopes of a smaller rise in interest rates. The benchmark index rose after data showed…
(Reuters) – U.S. producer prices unexpectedly fell in July amid a drop in the cost for energy products and underlying producer inflation appears to be on a downward trend, while jobless claims rose for a second straight week in a labor market that remains tight. The producer price index for final demand declined 0.5% last…
By Eric Onstad LONDON (Reuters) – Speculators in the copper market, viewed as an indicator of the health of the economy, are betting a global downturn means the metal used in power and construction has further to fall, despite its recent rebound. The latest data shows more funds with bearish positions than bullish copper positions…
