WASHINGTON (AP) — President Joe Biden traveled to Saudi Arabia last month on the possibility that he could get some additional oil production out of OPEC+ in coming weeks, but the cartel and other nations announced a scant increase Wednesday. The White House responded by stressing that what matters is the steady decline in oil…
By Lindsay Dunsmuir and Dan Burns (Reuters) – Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the U.S. central bank’s key interest rate next month might be enough to march on toward that goal. “I start from the idea that 50 (basis…
By Maha El Dahan and Ahmad Ghaddar DUBAI/LONDON (Reuters) – OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount analysts said was a setback to U.S. President Joe Biden after his trip to Saudi Arabia to ask the producer group’s leader to pump more to help the United…
By Jessica DiNapoli NEW YORK (Reuters) -Ben & Jerry’s independent board said parent company Unilever Plc, with which it is locked in a dispute over the sale of its Israeli business, had frozen its directors’ salaries in July as a pressure tactic ahead of a mediation on the matter. The Cherry Garcia ice cream maker…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. services industry unexpectedly picked up in July as new orders grew solidly, supporting views that the economy was not in recession despite output slumping in the first half. The Institute for Supply Management (ISM) survey on Wednesday also showed supply bottlenecks were easing, with a measure of…
By Luiza Ilie CONSTANTA, Romania (Reuters) – At the Romanian Black Sea port of Constanta dockers have worked for months to ship out Ukrainian grain in addition to their usual loads from Romania and its land-locked neighbours. Shipments arrive constantly. The grain, which is poured onto conveyor belts in Constanta terminals, makes the air smell…
Better-than-expected COVID-19 vaccine sales pushed Moderna past Wall Street’s second-quarter forecasts. The company said that its Spikevax vaccine brought in $4.53 billion during the quarter. Analysts were looking for around $3.6 billion, according to FactSet. Moderna shares surged Wednesday after the company also announced another $3 billion share buyback plan. Moderna’s vaccine sales in the…
WASHINGTON (Reuters) – New orders for U.S.-manufactured goods increased solidly in June and business spending on equipment was stronger than initially thought, pointing to underlying strength in manufacturing despite rising interest rates. The Commerce Department said on Wednesday that factory orders rose 2.0% in June after advancing 1.8% in May. Economists polled by Reuters had…
DUBLIN (Reuters) – Ryanair flew its highest-ever number of passengers in a month in July, while the average proportion of empty seats per flight fell back to pre-COVID levels of 4%, the low-cost airline said in a statement on Wednesday. The Irish airline, which made a point of keeping its pilots and crew up-to-date with…
NEW YORK (AP) — Country superstar Dolly Parton, who made a big donation to help fund coronavirus vaccine research in 2020, is among this year’s Carnegie Medal of Philanthropy recipients. Also being honored are Dallas entrepreneur Lyda Hill, Kenyan industrialist Manu Chandaria, and Lynn and Stacy Schusterman, from the Oklahoma investment family. The award, presented…
