By Scott DiSavino NEW YORK (Reuters) -Oil prices sank about 5% to a five-week low on Tuesday on concerns about the economy as U.S. politicians discuss ways to avoid a debt default and investors prepare for more rate hikes this week. Brent futures fell $3.99, or 5.0%, to settle at $75.32 a barrel, while West…
By Olena Harmash KYIV (Reuters) -Ukraine’s military vowed on Tuesday not to give up the pulverised eastern city of Bakhmut as it prepares to launch a long-promised counteroffensive against Russian forces. General Oleksandr Syrskyi, commander of ground forces, underlined the importance Kyiv attaches to holding Bakhmut as preparations continue for a counterattack which it hopes…
By Karen Brettell NEW YORK (Reuters) – The dollar fell Tuesday after data showed that U.S. job openings fell in March, a day before the Federal Reserve is expected to hike interest rates by an additional 25 basis points. U.S. job openings fell for a third straight month and layoffs increased to the highest level…
By David Shepardson WASHINGTON (Reuters) -White House senior adviser John Podesta said Toyota Motor Corp “had been the laggard” on producing electric vehicles but is now “fully committed” after he met recently with senior company officials at the Japanese automaker. “I think they’re going to stick with plug-in hybrids for a while, maybe longer than…
By Valerie Volcovici, Timothy Gardner and Jeff Mason WASHINGTON (Reuters) -The White House will support Senator Joe Manchin’s bill introduced on Tuesday to speed energy project permits, because it would help clean power companies use vast incentives in President Joe Biden’s climate law, adviser John Podesta said. Despite recent calls by Manchin, a conservative West…
By Dietrich Knauth (Reuters) -Revlon Inc said on Tuesday that it has emerged from bankruptcy after cutting more than $2.7 billion in debt and handing control of the beauty products company to its lenders. CEO Debra Perelman said in a statement that Revlon is stronger after bankruptcy and well positioned for long-term growth. “We look…
By Dietrich Knauth (Reuters) -Revlon Inc said on Tuesday that it has emerged from bankruptcy after cutting more than $2.7 billion in debt and handing control of the beauty products company to its lenders. CEO Debra Perelman said in a statement that Revlon is stronger after bankruptcy and well positioned for long-term growth. “We look…
By Andrea Shalal and Nandita Bose WASHINGTON (Reuters) -President Joe Biden will not negotiate over the debt ceiling during his meeting with four top congressional leaders on May 9, but he will discuss starting “a separate budget process” to talk about spending priorities, the White House said on Tuesday. Biden on Monday summoned the four…
By Arshreet Singh (Reuters) – U.S. lithium miners Albemarle and Livent are expected to report a rise in quarterly profit this week, but investor focus will likely be on how they plan to navigate the slide in prices for the metal used in electric-vehicle batteries. Strong demand for EVs and limited supply of the metal…
By Howard Schneider WASHINGTON (Reuters) – A continued drop in job openings and a dip in the rate at which workers are quitting have kept alive, for now, a key Federal Reserve narrative that the economy can slow without a major crack in employment. New data for March showed the ratio of job openings to…
