By Tom Balmforth (Reuters) -A Russian warship was seriously damaged in an overnight Ukrainian naval drone attack on Russia’s Black Sea navy base at Novorossiysk, the first time the Ukrainian navy has projected its power so far from the country’s shores. The port, which handles 2% of the world’s oil supply and also exports grain,…
By David Shepardson and Rajesh Kumar Singh (Reuters) – United Airlines on Friday said it is spending $33 million to buy 113 acres (46 hectares) in Denver as part of its growth strategy. The Chicago-based U.S. airline said it plans to use “part of this land as the site for the expansion of our world-class…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks have rallied this year, largely on the back of companies with ties to artificial intelligence (AI), but as those shares become expensive, investors are turning towards firms set to benefit from government spending on infrastructure. Nvidia shares have surged almost 205% year to date, while Meta…
BERLIN (Reuters) – China is losing importance as a market for German exporters, with data showing a steady decline in its share of total exports, a trend set to continue as Berlin and Beijing rethink their economic ties. Despite hopes of a trade boost after Beijing lifted pandemic restrictions, exports to China made up just…
(This Aug. 2 story has been corrected say the company cut annual forecast for net income attributable to shareholders, not profit, and removes the reason for it in the headline and paragraph 1) (Reuters) – Simon Property lowered its annual forecast for net income and missed Wall Street estimates for quarterly funds from operations on…
NEW YORK (Reuters) – The U.S. economy maintained a moderate pace of job growth in July, but solid wage gains and a decline in the unemployment rate pointed to continued tightness in labor market conditions. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely watched employment report on Friday….
By Timothy Aeppel (Reuters) – When storms hammered California’s farms last winter, Kevin Kelly knew his small factory outside San Francisco would soon see demand wilt for the plastic bags it churns out for pre-cut salads and other produce. In the past, he would have swiftly chopped 10% of the workers that run his bag-making…
By Maha El Dahan, Ahmad Ghaddar and Alex Lawler DUBAI/LONDON (Reuters) -An OPEC+ ministerial panel which met on Friday made no changes to the group’s current oil output policy after a Saudi decision to extend its voluntary production cut into September helped oil prices rally further. The panel, called the Joint Ministerial Monitoring Committee, can…
(Reuters) – Argentina’s government on Friday agreed with Qatar a $775 million loan to use to make an International Monetary Fund (IMF) repayment due this Friday. Argentina is grappling with a severe economic crisis with sky-high inflation and falling central bank reserves and is facing IMF repayments. The country’s Economy Minister Sergio Massa said on…
(Reuters) – U.S. money market funds saw robust demand in the seven days to Aug. 2 as investors favoured safer assets on concerns over a U.S. credit rating downgrade and economic reports signalling a still-tight labour market. Investors secured U.S. money market funds worth about $58.56 billion in their biggest weekly net buying since March…
