By Sabrina Valle HOUSTON (Reuters) -Chevron Corp said on Monday it is increasing its U.S. oil and gas footprint by acquiring shale producer PDC Energy Inc in a stock-and-debt transaction worth $7.6 billion. For Chevron, the second-largest U.S. oil firm, the deal will increase its production, capital expenditures and cash flow in the United States…
BERLIN (Reuters) – Germany plans to earmark around 4 billion euros ($4.40 billion) annually to subsidize electricity prices for energy-intensive industries, to support an industrial move away from fossil fuels and discourage firms from moving offshore. The government last year introduced electricity and gas price caps to shield industry and households from rising energy prices,…
By Daniel Wiessner (Reuters) -First Citizens BancShares Inc, which acquired Silicon Valley Bank following its collapse, sued HSBC Holdings PLC on Monday, accusing it of poaching more than 40 of the failed bank’s employees in order to launch its own U.S. venture banking business. The lawsuit filed in San Francisco federal court says HSBC violated…
By Jeffrey Dastin and Anna Tong (Reuters) -ChatGPT’s creator OpenAI is testing how to gather broad input on decisions impacting its artificial intelligence, its president Greg Brockman said on Monday. At AI Forward, an event in San Francisco hosted by Goldman Sachs Group Inc and SV Angel, Brockman discussed the broad contours of how the…
DAKAR (Reuters) – Between 60,000 and 90,000 people have fled from Sudan to neighbouring Chad since violence erupted last month, the U.N. refugee agency said on Monday. More than 250,000 people have crossed the borders to neighbouring countries since the conflict broke out, with more expected to flee as fighting continues. “Almost 90% of new…
By Kirsty Needham (Reuters) – U.S. Secretary of State Antony Blinken said a defence cooperation pact signed with Papua New Guinea on Monday would expand the Pacific island nation’s capabilities and make it easier for the U.S. military to train with its forces. Blinken and Indian Prime Minister Narendra Modi held separate meetings with 14…
By Daina Beth Solomon and David Lawder WASHINGTON/MEXICO CITY (Reuters) – U.S. labor officials on Monday said they have asked Mexico to investigate alleged worker rights abuses at a Goodyear Tire & Rubber Co plant in Mexico in the latest “rapid response” probe under North American trade rules. The complaint from the U.S. Trade Representative’s…
(Reuters) – JPMorgan increased its corporate default rate forecast for all emerging markets to 6% from 5.5% on Monday, citing in particular growing risk among Latin American companies as access to credit markets gets tougher. The bank’s forecasted default rate for Latin American corporates, meanwhile, came in even higher at 6.6%, up from 5%, which…
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Monday dismissed long-running litigation by investors who accused HSBC Holdings Plc and Bank of Nova Scotia of conspiring to fix silver prices. U.S. District Judge Valerie Caproni in Manhattan said the investors lacked legal standing to pursue federal antitrust claims under the Sherman Act,…
By Herbert Lash (Reuters) -A derivatives committee ruled on Monday that a bankruptcy credit event had not occurred in relation to Credit Suisse, quashing investors’ efforts to trigger a payout on credit insurance linked to the Swiss lender. The ruling was in response to an investor question about $17 billion in senior and subordinated bonds…
