By Gary McWilliams HOUSTON (Reuters) – The oil and gas industry went on a $250 billion buying spree in 2023, taking advantage of companies’ high stock prices to secure lower-cost reserves and prepare for the next upheaval in an industry likely to undergo more consolidation. A surge in oil demand as world economies shook off…
By Ryan Woo BEIJING (Reuters) -Giant Christmas trees adorned with lights, tinsel and gift boxes greet shoppers at glittering malls in big Chinese cities like Shanghai and Chongqing, but in many parts of China, extending season’s greetings is out of the question. In southwest Yunnan province, a property management company issued a notice to shopping…
By Nidal al-Mughrabi, Bassam Masoud and Dan Williams CAIRO/GAZA/JERUSALEM (Reuters) -Pope Francis lamented war in the land of the birth of Jesus on Sunday, where Christmas Eve brought only fresh bloodshed and an intensification of fighting across the length of the Gaza Strip. Hours before midnight tolled for Christmas in the Holy Land, Palestinian health…
By Steven Scheer JERUSALEM (Reuters) – U.S. chipmaker Nvidia and its employees have donated $15 million to Israeli and foreign non-profit organisations that are supporting civilians affected by Israel’s war with Palestinian militant group Hamas. Thousands of employees from more than 30 countries donated a total of $5 million, which the company matched and doubled…
(Reuters) – A drone launched from Iran struck a chemical tanker in the Indian ocean early on Saturday, the U.S. Department of Defense said. “The motor vessel CHEM PLUTO, a Liberia-flagged, Japanese-owned, and Netherlands-operated chemical tanker was struck at approximately 10 a.m. local time (6 a.m. GMT) today in the Indian Ocean, 200 nautical miles…
MOSCOW (Reuters) -Russian President Vladimir Putin on Sunday signed a decree clearing the way for Rosbank to purchase stakes in leading Russian companies owned by Societe Generale. The decree said that Rosbank will be able to buy SocGen’s stakes in energy producers such as Rosneft and Gazprom, metals companies including Norilsk Nickel and Severstal, and…
By Kanishka Singh WASHINGTON (Reuters) -President Joe Biden on Friday signed into law the U.S. defense policy bill that authorizes a record $886 billion in annual military spending and policies such as aid for Ukraine and push-back against China in the Indo-Pacific. The National Defense Authorization Act, or NDAA, passed Congress last week. The Democratic-controlled…
By Scott DiSavino NEW YORK (Reuters) – Oil prices eased on Friday ahead of the long Christmas holiday weekend on expectations Angola could increase output after leaving OPEC, but rose for the week on positive U.S. economic news and worries Houthi ship attacks would boost supply costs. Brent futures fell 32 cents, or 0.4%, to…
By Savyata Mishra and Aishwarya Venugopal (Reuters) – Nike is starting to lose share to upstart sneaker brands such as On and Hoka and will need to invest in fresher styles, analysts said on Friday, after the sportswear giant trimmed its annual sales forecast and sent shares tumbling 11%. The Air Jordan 1 shoe maker…
By Michael Erman and Manas Mishra (Reuters) -Bristol Myers Squibb on Friday agreed to buy Karuna Therapeutics for $14 billion, gaining a promising new type of antipsychotic medicine to help power growth as patents on its older therapies expire later this decade. Karuna’s experimental schizophrenia drug, called KarXT, should drive sales through the late 2020s…