(Refiles to add dropped day in paragraph 1) By Saqib Iqbal Ahmed and Samuel Indyk NEW YORK (Reuters) -The U.S. dollar edged higher against the euro on Tuesday after data showed U.S. housing starts surged and as traders awaited Federal Reserve Chair Jerome Powell’s congressional testimony later this week for clues to the outlook for…
By Scott DiSavino NEW YORK (Reuters) -Oil futures eased in choppy trading on Tuesday on forecasts for slower oil demand growth in China, the world’s second-biggest oil consumer, and disappointment with the size of cuts in China’s key lending rates. Adding to the bearish market sentiment, traders noted crude supplies from Iran and Russia have…
PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Tuesday he was sticking for now with the government’s forecast of 1% economic growth for 2023. “I confirm the growth forecast for 2023,” Le Maire told France 2 television. “I am lucid about the economic environment with several of our neighbours in recession…so we…
By David French and Mrinalika Roy (Reuters) -Civitas Resources on Tuesday said it would acquire oil and gas operations in the Permian basin managed by private equity firm NGP Energy Capital Management for $4.7 billion, expanding its operations into the lucrative shale patch. The deal is transformative for Civitas, which until now operated solely in…
By Lisa Baertlein LOS ANGELES (Reuters) -FedEx on Tuesday said it will merge its contractor-based Ground delivery operations in Canada into its company-operated Express unit and convert contractors into employees. The move, set to phase in starting in April 2024, comes as the global delivery company is revamping operations to boost profits and better compete…
By David Shepardson WASHINGTON (Reuters) – General Motors on Tuesday said it was investing $920 million to expand operations at its Ohio diesel engine plant for production of future internal combustion engine (ICE) heavy-duty truck powertrain products. In total, the largest U.S. automaker has announced in June more than $3.2 billion in investments to support…
BRASILIA (Reuters) -Brazil’s Senate Economic Affairs Committee has granted the opposition a 24-hour delay on a vote on new fiscal rules considered crucial by the government of President Luiz Inacio Lula da Silva. The new fiscal framework, mentioned by S&P in its outlook improvement for Brazil, is seen a key tool for the government to…
BRUSSELS (Reuters) – EU leaders are set to call on China next week to help bring an end to the war in Ukraine, engage in global challenges, such as climate change, and rebalance its economic relations with the European Union, a senior EU official said on Tuesday. EU leaders meet for a summit in Brussels…
By Giulio Piovaccari MILAN (Reuters) -Pirelli investor Camfin has proposed Andrea Casaluci as the new CEO of the Italian tyremaker, promoting him from a general manager role days after the Italian government intervened to limit Chinese influence on the company. The nomination of Casaluci on Tuesday comes as Pirelli deputy CEO Giorgio Bruno, who had…
By Stephen Nellis (Reuters) – Hewlett Packard Enterprise Co (HPE) on Tuesday said that it is rolling out a cloud computing service designed to power artificial intelligence systems similar to ChatGPT. HPE’s service is being used by a few customers now, with more availability in North America by year’s end and in Europe next year….
