By Erwin Seba HOUSTON (Reuters) – U.S. oil refiners aim to run at up to 94% of a total 17.9 million barrels per day processing capacity this quarter, according to company forecasts and analysts, driven in part by expectations of seasonal travel demand. Strong prices and demand since late 2021 have encouraged refiners to run…
By Michael S. Derby NEW YORK (Reuters) – Leaders of factory and service sector firms in the New York Fed’s district said access to credit has been mostly stable in May over the last three months, but a number saw tougher times ahead. The bank said Tuesday in its latest Business Leaders Survey for May…
WASHINGTON (Reuters) – Treasury Secretary Janet Yellen on Tuesday warned that a U.S. default on government debt would leave millions of Americans without income payments, potentially triggering a recession that destroys many American jobs and businesses. Yellen told a gathering of community bankers that the unprecedented economic and financial crisis would be exacerbated by possible…
By Renee Maltezou HERAKLION, Greece (Reuters) – Greek Prime Minister Kyriakos Mitsotakis told Reuters in an interview that he had learned to be bold on economic reform as he seeks re-election in a country that was once the euro zone’s problem child. The leader of the conservative New Democracy party hopes to win a second…
TOKYO (Reuters) – Japan’s government on Tuesday has approved an increase in household electricity rates of made by seven major utilities after delays in examining their requests as the government sought to address record high inflation. The hikes, ranging from 14% to 42% to reflect higher fuel costs, will add pressures on the world’s third-biggest…
(Reuters) -Shake Shack Inc on Tuesday added an independent director in agreement with Engaged Capital LLC, avoiding a potential proxy battle between the activist investor and the restaurant chain. This follows a Wall Street Journal report that said Engaged Capital, which according to Refinitiv data has a 4.36% stake, was planning to launch a proxy…
By Nick Carey LONDON (Reuters) – Mercedes-Benz’s van unit said on Tuesday that it plans a new, scalable platform for its electric vans that will reduce fixed costs by 20% by the middle of the decade and that electric models should make up 50% of its van sales by 2030. Electric vans should make up…
OTTAWA (Reuters) -Canada’s industry minister is optimistic about reaching a deal with carmaker Stellantis over subsidies to build a battery plant in Windsor, Ontario, provided that the provincial government also offers some support, he said on Tuesday. Stellantis stopped construction at a C$5 billion ($3.7 billion) electric-vehicle battery plant in Canada, which is being built…
LONDON (Reuters) -Britain’s departure from the European Union has not been a failure, Prime Minister Rishi Sunak’s spokesperson said on Tuesday, rebuffing criticism from prominent eurosceptic politicians about how Brexit had been implemented. Nigel Farage, the British politician who helped force a Brexit referendum in 2016 and successfully campaigned to leave the European Union, said…
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – Senior Tesla Inc executives will meet Indian government officials on Wednesday and Thursday to discuss local procurement of parts and other issues, a source with direct knowledge of the matter told Reuters. The electric carmaker’s renewed interest in India comes nearly a year after it…
