By Laila Kearney and Muyu Xu (Reuters) -Oil prices extends losses on Wednesday as a much bigger-than-expected surge in the U.S. crude inventories and expectations of further interest rate hikes sparked concerns over the prospect of weaker fuel demand and economic recession. Brent crude futures slid 72 cents, or 0.8%, to $84.86 per barrel by…
(Reuters) – Tesla chief executive Elon Musk donated shares worth $1.95 billion in the world’s most valuable automaker to charity last year, a filing with the U.S. Securities and Exchange Commission (SEC) showed on Tuesday. Musk donated about 11.6 million shares between August and December last year, according to the filing, which did not say…
TOKYO (Reuters) – Japanese prime minister Fumio Kishida said on Wednesday Bank of Japan (BOJ) governor nominee Kazuo Ueda is the best fit to lead the central bank as he is a well known economist globally and has high expertise in financial field. The appointment of Ueda was made after taking the market impact as…
By Laila Kearney (Reuters) – Oil prices slipped in early Asian trade on Wednesday after falling by more than $1 a barrel in the previous session as industry data pointed to a much bigger-than-expected surge in U.S. crude inventories. Brent crude futures lost 20 cents to $85.38 per barrel by 0111 GMT, while U.S. West…
By Carolina Mandl and Sittrarasu S NEW YORK/BANGALORE (Reuters) -Warren Buffett’s Berkshire Hathaway Inc slashed its stake in Taiwanese contract chip-maker TSMC as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc. Berkshire cut its position in Taiwan Semiconductor Manufacturing Co Ltd (TSMC) by 86.2% to 8.29 million…
By Sinéad Carew (Reuters) – The S&P 500 ended Tuesday’s volatile session slightly lower while the dollar was barely higher on Tuesday after data showed U.S. consumer inflation stayed sticky in January, pushing out expectations for a Federal Reserve rate-hiking pause. While Wall Street’s equity indexes swayed between positive and negative territory during the session,…
By David Lawder WASHINGTON (Reuters) -The International Monetary Fund’s strategy director on Tuesday said the goal of a new sovereign debt panel of creditors and borrowers due to meet on Friday is to try to reach understandings on common standards, principles and definitions for how to restructure distressed country debts. Ceyla Pazarbasioglu, director of the…
By David Randall and Carolina Mandl NEW YORK (Reuters) – “Big Short” investor Michael Burry, Farallon Capital Management, and Coatue Management were among the prominent hedge fund managers who took large bets on Chinese companies ahead of the reopening of the country’s borders in January after nearly three years of restrictions, securities filings showed on…
By Ann Saphir and Lindsay Dunsmuir (Reuters) -Federal Reserve officials said on Tuesday the U.S. central bank will need to keep gradually raising interest rates to beat inflation and suggested sticky price pressures driven by a hot jobs market may push borrowing costs higher than they once thought. “With the strength in the labor market,…
By Shariq Khan BENGALURU (Reuters) -Oil prices settled more than 1% lower on Tuesday after the United States said it would boost supply in the market by releasing more crude from its Strategic Petroleum Reserve. On Monday, the U.S. Department of Energy (DOE) said it would sell 26 million barrels of oil from the SPR,…
