By Timothy Gardner and Liz Hampton WASHINGTON (Reuters) – Oil executives defended themselves in the U.S. Congress on Wednesday from charges by lawmakers that they are gouging Americans with high fuel prices, saying that they are boosting energy output and no one company sets the price of gasoline. Lawmakers in the U.S. House of Representatives…
By Noah Browning and David Gaffen LONDON/NEW YORK (Reuters) -Oil futures fell sharply on Wednesday following a surprising rise in U.S. crude stocks and after large consuming nations said they would release oil from reserves in conjunction with the United States to counter tightening supply. Member states of the International Energy Agency (IEA) will release…
By Julie Gordon OTTAWA (Reuters) – With an election looming, Canada’s province of Ontario is moving to rein in surging home prices with populist measures like a bigger foreign-buyer tax, but economists warn rising interest rates are likely to do most of the work. Already there are signs the red-hot markets are cooling after last…
WASHINGTONG (Reuters) – Member countries of the International Energy Agency besides the United States have agreed to release 60 million barrels of oil from storage, an official from the U.S. government and an IEA member country official told Reuters. The amount will be matched by the United States as part of Washington’s pledge last week…
PARIS (AP) — Luxury fashion brand Chanel says it has stopped selling its clothes, perfumes and other luxury goods to Russian customers abroad if they plan to take the products back home — a bold response to Moscow’s invasion of Ukraine that some say goes too far. The move, which some Russians have decried, comes…
By Katanga Johnson WASHINGTON (Reuters) -A U.S. markets regulator on Wednesday voted to propose new rules that would require platforms that execute trades of security-based swaps to register with the agency in a bid to increase the transparency of the over-the-counter derivatives market. The proposals from the U.S. Securities and Exchange Commission (SEC) would fulfill…
(Reuters) – Cessna business jet maker Textron Aviation on Wednesday announced a firm order for five Cessna CJ3+ light jets with options for 25 more, as surging private air travel during the COVID-19 pandemic fuels demand for corporate planes. U.S. private jet charter provider flyExclusive, which operates a fleet of around 85 private jets, expects…
SHANGHAI (Reuters) – China on Wednesday issued a draft law on financial stability in a bid to further strengthen safety nets to prevent systemic financial risks in the world’s second biggest economy. China will establish a financial stability protection fund to beef up its ability to cope with major financial risks, and set up a…
(Reuters) – Wall Street’s main indexes opened lower on Wednesday, signaling a second day of selling on Wall Street as investors feared aggressive moves by the Federal Reserve to tackle inflation, with eyes on minutes from the central bank’s March meeting. The Dow Jones Industrial Average fell 120.8 points, or 0.35%, to 34520.34 at the…
By Giuseppe Fonte ROME (Reuters) – Italy has slashed its growth estimate for this year as the war in Ukraine weighs on the economy, while confirming a previous 2022 budget deficit target of 5.6% of national output, according to a draft government document seen by Reuters. The Treasury’s annual Economic and Financial Document (DEF)forecasts gross…
