By Maha El Dahan and Ahmed Rasheed DUBAI (Reuters) – Saudi Arabia and other OPEC+ oil producers on Sunday announced further cuts in their production amounting to around 1.16 million barrels per day in a surprise move they said was aimed at supporting market stability. The development comes a day before a virtual meeting of…
(Reuters) – Tesla Inc on Sunday missed estimates for first-quarter deliveries as a bleak economic outlook and rising competition outweighed the electric automaker’s efforts to prop up demand with price cuts. Tesla delivered 422,875 vehicles compared with analyst expectations for 430,008 vehicles, according to Refinitiv data. Investors have been watching CEO Elon Musk’s gamble that…
By Maha El Dahan and Ahmed Rasheed DUBAI (Reuters) – Saudi Arabia and other OPEC+ oil producers on Sunday announced voluntary cuts to their production amounting to around 1.15 million barrels per day in a surprise move they said was aimed at supporting market stability. The group had been largely expected to stick to its…
DUBAI (Reuters) – Saudi Arabia and other OPEC+ oil producers on Sunday announced voluntary cuts to their production, with Riyadh saying it would cut output by 500,000 barrels per day (bpd) from May until the end of 2023, state media reported. Russia’s deputy prime minister also said Moscow would extend a voluntary cut of 500,000…
(Reuters) – The New York Times will not pay a monthly fee to get verified check mark status on Twitter, a spokesperson for the newspaper said hours after it lost the verified badge on the social media platform. According to new Twitter policy, verified check marks are now offered only through a paid subscription. Organizations…
(Reuters) – The New York Times will not pay a monthly fee to get verified check mark status on Twitter, a spokesperson for the newspaper told Reuters, hours after it lost the verified badge on the social media platform. “We also will not reimburse reporters for Twitter Blue for personal accounts, except in rare instances…
BEIJING (Reuters) – China should accelerate legislation of the Financial Stability Law and improve other legal arrangements designed to prevent and dispose of financial risks, three officials from the People’s Bank of China (PBOC) wrote in China Finance, a publication affiliated to the central bank. Financial authorities should strengthen supervision of financial institutions’ date accuracy…
BERLIN (Reuters) – Volkswagen does not plan to develop a new combustion engine generation of its legendary Golf car, brand chief Thomas Schaefer told autos publication Automobilwoche on Sunday, marking the end of the line for a vehicle on sale since 1974. The Golf 8, currently in production, will be the last combustion engine version…
(Reuters) – Norges Bank Investment Management will vote against the re-election of Credit Suisse Chair Axel Lehmann and six other directors at the Swiss lender’s annual general meeting on Tuesday, the Norwegian wealth fund said on its website. Credit Suisse was acquired last month by rival UBS in a $3.23 billion deal engineered by the…
GENEVA (Reuters) – The bank created by the UBS takeover of Credit Suisse is poised to reduce its workforce by 20-30%, Swiss daily Tages-Anzeiger reported on Sunday, citing an unnamed senior UBS manager. UBS agreed to buy Zurich rival Credit Suisse for 3 billion Swiss francs ($3.3 billion) in a deal engineered by the Swiss…