By Stephanie Kelly and Emily Chow (Reuters) -Oil prices gained over $1 on Wednesday after U.S. inventories and fuel supplies tightened and as a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Brent crude futures last rose 68 cents, or 0.9%, to $77.52 a barrel by 0330…
HONG KONG (Reuters) – Macau, the world’s biggest gambling hub, needs to diversify its economy and make greater efforts to safeguard national security, the Macau government quoted a top Chinese official as saying. The directives were part of six requirements laid out by Xia Baolong, the director of China’s Hong Kong and Macau Affairs Office,…
By Anirban Sen and Saeed Azhar (Reuters) -PacWest Bancorp has sold its property lending division to real estate financing firm Roc360 for an undisclosed amount, in a bid to bolster investor confidence amid concerns about the finances of U.S. regional lenders. Roc360 said on Tuesday it agreed to acquire PacWest’s Civic Financial Services (“CIVIC”) unit,…
WASHINGTON (Reuters) – The Chinese government’s recent ban on U.S. chipmaker Micron Technology over security concerns is “not based in fact,” the White House said on Tuesday. The Biden administration is troubled by Beijing’s recent actions and by raids targeting American firms, White House press secretary Karine Jean-Pierre told reporters. The White House is communicating…
By Stephen Nellis and Karen Freifeld WASHINGTON (Reuters) -The U.S. Commerce Department should put trade curbs on Chinese memory chip maker Changxin Memory Technologies (CXMT) after Beijing earlier this week banned the sale of some chips by U.S.-based Micron Technology Inc, the chair of the U.S. House of Representatives’ committee on China said on Tuesday….
(Reuters) – Global Net Lease Inc will acquire Necessity Retail REIT Inc in an all-stock deal that would value the combined entity at about $950 million, the companies said late on Tuesday. The shareholders of Necessity Retail REIT would receive 0.670 shares of Global Net Lease (GNL) for each Necessity share held, representing a total…
By Lucy Craymer WELLINGTON (Reuters) -New Zealand’s central bank on Wednesday raised interest rates by 25 basis points to the highest in more than 14 years to 5.5% and reiterated inflation remains too high even as it still forecast a recession this year. The decision was in line with expectations from 21 of 25 economists…
By Sam Nussey TOKYO (Reuters) – Sony Group Corp said on Wednesday that the success of hit drama “The Last Of Us” from television network HBO is boosting sales of the game series upon which it is based, in a stand-out case of the group repurposing its popular franchises. “We could see very, very clearly…
By Arlene Washington LOS ANGELES (Reuters) – Hollywood should portray safer use of guns in television and film at a time of rampant gun violence in the United States, USC Annenberg’s Norman Lear Center for Hollywood, Health and Society said in a report released on Tuesday. “Trigger Warning: Gun Guidelines for the Media” encompasses more…
(Reuters) – The New York Times Guild said on Tuesday that it has tentatively struck a new contract agreement with the New York Times marking the end of more than two years of negotiations. The deal, if ratified, will raise the median salary of a NewsGuild member to $136,220 and to $160,011 for reporters and…
