By Nichola Groom and Richard Valdmanis (Reuters) -U.S. imports of solar panels are finally picking up after months of gridlock stemming from implementation of a new law banning goods made with forced labor, according to two Chinese solar companies. A White House official confirmed the thaw in shipments at an energy conference on Monday, attributing…
HOUSTON (Reuters) – The global natural gas market has been more fundamentally changed for the long term than the oil market by Russia’s invasion of Ukraine, Chevron Corp Chief Executive Mike Wirth said on Monday. The conflict in Ukraine and ensuing Western sanctions upended global oil and gas markets and disrupted supplies from Russia. Europe…
SYDNEY (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S. economy would reach a technical recession starting in the third quarter. Moynihan told The Financial Review’s Business Summit in Sydney a U.S. recession would not be deep and the bank forecast interest rates would start falling in the second…
By Liz Hampton and Ron Bousso (Reuters) -U.S. energy executives are set to meet privately with top OPEC officials on Monday for at least the fifth year at a Houston conference, people familiar with the matter said, as the former rivals have become joint beneficiaries of enormous global demand for their oil and gas. The…
By John McCrank NEW YORK (Reuters) -The New York Stock Exchange teamed up with retail broker Charles Schwab Corp and market maker Citadel Securities on Monday to ask the U.S. Securities and Exchange Commission to withdraw two recently proposed rules aimed at revamping how stocks trade. The move represents a coordinated industry push back against…
(Reuters) – Trading in new near-dated U.S. options contracts can supercharge volatility in U.S. stocks, potentially leading to tremendous intraday declines, analysts at JPMorgan said. The U.S. equity options market has seen a rise in the trading of options contracts set to expire at the end of the trading day – dubbed 0DTE (zero day…
By Diane Bartz and David Shepardson WASHINGTON (Reuters) -JetBlue Airways Corp said on Monday it believes there is a “high likelihood” the U.S. Justice Department will file an antitrust lawsuit this week to block its $3.8 billion takeover of low-cost rival Spirit Airlines Inc. JetBlue said in a statement that it accounted for the possibility…
By David Shepardson WASHINGTON (Reuters) -A group of 45 state attorneys general in the United States on Monday demanded Chinese-owned social media app TikTok produce subpoenaed materials sought in an ongoing nationwide consumer protection investigation. The states are seeking to review internal TikTok communications to determine whether the company engaged in deceptive conduct that harmed…
(Reuters) -Microsoft Corp on Monday bundled the technology behind ChatGPT with its Power Platform that allows users to develop applications with little or no coding, the latest integration of artificial intelligence into its products. Big tech companies from Alphabet Inc to Baidu Inc are speeding up the integration of generative AI – technology that has…
By Giuseppe Fonte ROME (Reuters) – Italy seems to have avoided an economic recession despite being hit by costly energy prices and record high inflation, Economy Minister Giancarlo Giorgetti said on Monday, offering a less grim outlook for the right-wing government. However, he did warn that European Central Bank rate rises would pose “serious problems”…
