Spot gold eased 0.1% to $1,819.98 per ounce by 2:04 p.m. EDT (1804 GMT). U.S. gold futures settled 0.2% lower at $1,831.80 per ounce. “The whole narrative of holding rates higher for longer is the big reason why people are removing positions from gold as the opportunity cost of holding it has risen,” Bart Melek,…
(Reuters) -Canadian technology company BlackBerry said on Wednesday it would separate its Internet of Things (IoT) and cybersecurity business units and target a subsidiary initial public offering for the IoT business next fiscal year. BlackBerry joins a number of companies that have split their units in recent years, favoring a leaner corporate structure to help…
By David Shepardson (Reuters) -Workers will receive a 19% pay hike over five years under an agreement with Volvo Group-owned Mack Trucks and the United Auto Workers, according to a summary of the tentative agreement seen by Reuters. Workers must still ratify the agreement covering 4,000 hourly workers that includes a $3,500 ratification bonus, improved…
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil said on Wednesday big increases in oil, gas and fuel prices would deliver a third-quarter operating profit between $8.3 billion and $11.4 billion, below the year ago’s record earnings but up from its second quarter. Exxon’s snapshot of operating profits, delivered in a securities filing after the…
By Ahmed Aboulenein and Michael Erman (Reuters) -Around 4 million Americans received the updated COVID-19 shots in September, according to the U.S. Department of Health and Human Services (HHS), even as some people have found it difficult to book vaccination appointments or find the vaccines at no cost. “The Biden-Harris Administration, through HHS, has been…
(Reuters) – Social media giant Meta Platforms said on Wednesday that it has started rolling out generative artificial intelligence (AI) tools that can create content like image backgrounds and variations of written text for all advertisers. The company started testing these tools in May, giving access to a select group of advertisers in a “testing…
By Moira Warburton, Richard Cowan and David Morgan WASHINGTON (Reuters) -A handful of Republicans in the U.S. House of Representatives on Tuesday ousted Republican Speaker Kevin McCarthy, as party infighting plunged Congress into further chaos just days after it narrowly averted a government shutdown. The 216-to-210 vote marked the first time in history that the…
By Stephen Nellis and Samrhitha A (Reuters) -Chipmaker Intel on Tuesday said it plans to operate its programmable chip unit as a standalone business starting in January, with plans to hold a public offering for stock in the business over the next two to three years. Intel shares were up more than 2% after the…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday the United States has become overly dependent on China for critical supply chains, particularly in clean energy products and needs to broaden out sources of supply. Yellen, speaking at a Fortune CEO event in Washington, repeated her longstanding view that the United States does…
By Shariq Khan, David French and Ron Bousso (Reuters) – BP Plc is exploring the sale of a 49% stake in its U.S. oil and gas pipeline network in the Gulf of Mexico, hoping to raise as much as $1 billion, according to people familiar with the matter. The potential divestment would help BP meet…
