By Erwin Seba HOUSTON (Reuters) – Brent and U.S. crude oil finished on Monday at a loss, as hopes for Chinese demand faded “It seems that (China’s recovery) is not going to happen,” said John Kilduff, partner at Again Capital. “It’s doubtful they’re going to be buying. They bought a lot of crude for storage…
By Jonathan Oatis (Reuters) -Wildfires on Hawaii’s Maui have killed at least 114 people, forced tens of thousands of residents and tourists to evacuate the island and devastated the historic resort city of Lahaina. It’s the deadliest U.S. wildfire in more than a century. Here are some key questions and answers about the blazes: ARE…
(Reuters) -Meta Platforms is set to roll out the web version on its new text-first social media platform Threads, hoping to gain an edge over X, formerly Twitter, as the initial surge in users waned. The widely anticipated web version will make Threads more useful for power users like brands, company accounts, advertisers and journalists….
By Shashwat Chauhan and Ankika Biswas (Reuters) -European shares snapped a four-day losing streak on Monday as energy and miners rose, tracking higher global commodity prices, while Danish drugmaker Novo Nordisk steered gains in the healthcare sector. The pan-European STOXX 600 ended 0.1% higher, after rising as much as 0.9% intraday, having closed at a…
(Reuters) – Electric-vehicle maker Tesla’s shares rose 4.5% on Monday, snapping a six-session losing streak, after brokerage Baird Equity Research added the stock to its “best ideas” list. The brokerage said price cuts and their impact on margins will drive the narrative in the second half of the year but other potential catalysts for the…
(Reuters) -Industrial materials maker DuPont De Nemours said on Monday it has agreed to sell an 80.1% stake in its Delrin resins unit to private equity firm TJC, formerly known as The Jordan Company, in a deal that values the business at about $1.8 billion. Shares of the company fell 0.4% in morning trade after…
(Reuters) – The S&P 500 will likely struggle to make more headway after rallying almost 14% so far this year as investors start to question the sustainability of the U.S. economy’s resilience, Morgan Stanley equity strategists said. One reason is that a “sell-the news” mentality has taken hold following second-quarter earnings, potentially slowing price momentum,…
SHANGHAI (Reuters) -China’s major state-owned banks were seen actively mopping up the offshore yuan on Monday, three people with knowledge of the matter said, as the currency comes under growing pressure from a darkening economic outlook and strain in the property sector. State banks often act as agents for China’s central bank in the offshore…
(Reuters) – Seven major brokerages cut China’s economic growth forecast for the year as worries about contagion from debt repayment troubles at its top private property developer Country Garden deepened. There’s rising pressure on Beijing to deliver more stimulus to support the economy as it faces deflation and slower-than-expected growth in retail sales, industrial output…
By Stephen Culp (Reuters) -The Maui wildfires in Hawaii have killed at least 114, making it the deadliest U.S. wildfire in more than a century, with hundreds of people still unaccounted for nearly two weeks after the disaster. The causes of the Hawaii wildfires, which started the night of Aug. 8, have not yet been…
