WASHINGTON (Reuters) – The U.S. services sector maintained a steady pace of growth in April as new orders increased amid a surge in exports, but businesses continued to face higher prices for inputs, indicating that inflation could remain elevated for some time. The Institute for Supply Management (ISM) said on Wednesday that its non-manufacturing PMI…
By Arunima Kumar (Reuters) -U.S. refiner Phillips 66 beat Wall Street estimate for first-quarter profit on Wednesday, joining rivals in gaining from elevated margins on sustained fuel demand amid tight crude supplies. The company’s shares rose 1.3% to $95.98 in morning trade. Profits from turning crude oil into gasoline, diesel and jet fuel surged as…
By Rachna Uppal DUBAI (Reuters) – Government-led reforms and the growth of private investment in new sectors will help support non-oil economic growth in Saudi Arabia amid an expected sharp slowdown in overall growth this year, a senior IMF official said. The Saudi economy grew 8.7% last year, as high oil prices boosted revenue and…
By Liz Hampton DENVER (Reuters) -U.S. shale gas producer Chesapeake Energy on Wednesday said it anticipated volatility in natural gas markets to persist, and that it could hold off bringing some wells online if low prices continue. Chesapeake said it had opted to conduct some maintenance in the Haynesville shale while gas prices were low….
By Divya Rajagopal TORONTO (Reuters) -Barrick Gold Corp is not interested in bidding for the copper assets of Teck Resources Ltd as there are fewer synergies between the companies, CEO Mark Bristow said in an interview with Reuters. Bristow’s comments come at a time when Canadian mining company Teck has rebuffed a $22.5 billion unsolicited…
By Jörn Poltz MUNICH (Reuters) – Former Audi boss Rupert Stadler is ready to make a confession about his role in the diesel emissions scandal in exchange for a suspended sentence and a payment of 1.1 million euros ($1.21 million), he and his defence team said on Wednesday. The former CEO has been on trial…
WASHINGTON (Reuters) – President Joe Biden nominated another four federal judges on Wednesday, including two women of Asian descent who would be the first such U.S. judges on their court or in their state. The Senate, which Biden’s fellow Democrats narrowly control, must approve the candidates, who were nominated to posts in Michigan, Pennsylvania, Connecticut…
By Tanvi Mehta, Dhanya Skariachan and Chris Thomas BENGALURU (Reuters) – The owner of Go Airlines (India) has no plans to exit the budget carrier after engine troubles forced it into bankruptcy, the airline’s CEO told Reuters on Wednesday, as frustrated flyers complained of abrupt flight cancellations. India’s third-largest airline, which recently rebranded as Go First,…
By Pablo Mayo Cerqueiro LONDON (Reuters) -Shares in Italian gambling firm Lottomatica fell on their first day of trading on the Milan stock exchange on Wednesday, following Europe’s largest initial public offering (IPO) this year. Shares opened at 8.50 euros ($9.38), down from the IPO price of 9 euros, and were changing hands at around…
(Reuters) – Exelon Corp beat first-quarter profit estimates on Wednesday, as the U.S. electric and gas utility company benefited from customer additions and higher prices. The company’s adjusted net income was 70 cents per share for the quarter ended March 31, higher than analysts’ average estimate of 66 cents per share, according to Refinitiv data….
