By Laura Sanicola (Reuters) -Oil settled down $2 a barrel on Friday and ended the week markedly lower, as traders worried that future U.S. interest rate hikes could weigh on demand and got nervous about mounting signs of ample crude and fuel supply. On Thursday, two Fed officials warned additional hikes in borrowing costs are…
By John O’Donnell, Francesco Canepa and Alexandra Schwarz-Goerlich FRANKFURT/VIENNA (Reuters) -The United States’ sanctions authority has launched in inquiry into Raiffeisen Bank International over its business related to Russia, increasing scrutiny of the Austrian lender that plays a critical role in the Russian economy. Responding to questions from Reuters, the bank said it had received…
By Trevor Hunnicutt MUNICH (Reuters) – French President Emmanuel Macron signaled on Friday that he would discuss concerns about U.S. electrical vehicle subsidies with Vice President Kamala Harris as they met during the Munich Security Conference. “We are working hard,” on the issue, Macron said before their meeting. While EU countries welcome the U.S. commitment…
By Andrea Shalal and Jorgelina do Rosario WASHINGTON/LONDON (Reuters) -U.S.-based investment firm BlackRock said on Friday it would join a new sovereign debt roundtable set up to accelerate progress on stalled relief efforts for distressed countries, with Britain’s Standard Chartered also joining, according to sources. The Global Sovereign Debt Roundtable, chaired by the International Monetary…
(Reuters) -U.S.-listed shares of Sigma Lithium Corp rose 21% in extended trading on Friday after Bloomberg News reported that Tesla Inc was weighing a takeover of the Canada-based battery metals miner. Tesla has been speaking with potential advisers about a bid, the report said, citing people with knowledge of the matter, and added that Sigma…
By Ross Kerber (Reuters) – Discover Financial Services, a provider of credit cards, told Reuters it will allow its network to track purchases at gun retailers come April, making it the first among its peers to move ahead with the initiative aimed at helping authorities probe gun-related crimes. The decision came after the International Organization…
By Kanishka Singh WASHINGTON (Reuters) – U.S. Trade Representative Katherine Tai on Friday met with European Union Executive Vice President Valdis Dombrovskis and discussed the U.S. Inflation Reduction Act, Tai’s office said in a statement. EU countries fear the U.S. legislation’s $369 billion of subsidies for electric vehicles and other clean technologies could put companies…
By Sinéad Carew NEW YORK (Reuters) – Stock markets around the globe fell on Friday and oil prices settled lower after U.S. economic data prompted bets that the Federal Reserve would raise interest rates more than expected and keep them higher for longer to battle stubborn inflation. Friday’s data showed a year-over-year 0.8% increase in…
By Bianca Flowers and Aishwarya Nair (Reuters) – Deere & Co raised its annual profit forecast on Friday after beating Wall Street estimates for the latest quarter on higher revenue for its high-horsepower tractors and an increase in spending from construction customers. Shares of the world’s largest farm equipment maker rose 6.1%. The industrial bellwether,…
By Daina Beth Solomon and Diego Oré MEXICO CITY (Reuters) – Tesla Inc’s quest to build its first factory in Mexico reveals some of the shaky underpinnings of the country’s rise as a nearshoring darling, with proximity to U.S. buyers weighed down by concerns over power supply and political interference. Mexican President Andres Manuel Lopez…
