By Andrew Hayley BEIJING (Reuters) – China’s muted economic growth in 2023 as its post-COVID recovery underwhelms has crimped the outlook for demand for diesel fuel, the oil product that is the lifeblood of the economy, paving the way for continuing firm exports. Lower forecasts of Chinese diesel consumption further illustrate the struggles of the…
(Reuters) – Moderna said on Thursday an initial study data showed its updated COVID-19 vaccine to be effective against the “Eris” and “Fornax” subvariants in humans. The company expects the updated shot to be available, pending approval from health regulators in the United States, Europe and elsewhere, in the coming weeks for the fall vaccination…
(Reuters) -Shares of Hawaiian Electric Industries extended recent losses on Thursday, briefly hitting their lowest since 1985, as the utility faced questions about the role its equipment might have played in deadly wildfires in Maui. The company’s stock has lost more than half its value since the Aug. 8 wildfires that destroyed the coastal Maui…
By Jonathan Stempel, Dietrich Knauth and Manya Saini NEW YORK (Reuters) -China Evergrande, which is the world’s most heavily indebted property developer and became the poster child for China’s property crisis, on Thursday filed for protection from creditors in a U.S. bankruptcy court. The company sought protection under Chapter 15 of the U.S. bankruptcy code,…
(Reuters) – Government targets to increase wind power installations would see annual capacity additions reach 80 gigawatts (GW) per year by 2030, requiring $100 billion in secured investment in the supply chain by 2026, Wood Mackenzie said in a report. The research and consultancy firm forecast annual capacity is more likely to increase by 30…
By Dietrich Knauth NEW YORK (Reuters) -Trucking firm Estes Express has submitted a $1.3 billion bid to acquire bankrupt Yellow Corp’s shipment centers, attorneys said on Thursday at a U.S. bankruptcy court hearing. Yellow’s attorney Allyson Smith said the Estes proposal was received while Yellow was negotiating several offers for bankruptcy financing. Estes had offered…
By Jaspreet Singh and Max A. Cherney (Reuters) -Semiconductor equipment maker Applied Materials on Thursday forecast its fourth-quarter profit would be substantially higher than analyst estimates, as chip demand picks up and governments spend billions on subsidies. Shares jumped 1.9% in extended trading after the company also posted better-than-expected third-quarter earnings. Governments across the globe…
By Douglas Gillison (Reuters) – Wall Street’s top regulator is set next week to adopt new transparency rules for the $20-trillion private investment fund industry, according to an official notice, acting on a proposal that has drawn sharp industry objections. The five-member U.S. Securities and Exchange Commission is also due to vote on Aug. 23…
(Reuters) – Bitcoin dropped 7.2% to $26,634 at 21:45 GMT on Thursday, losing $2,067 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 16.3% from the year’s high of $31,818 on July 13. Ether, the coin linked to the Ethereum blockchain network, dropped 11.29% to $1,547.4 on Thursday, losing $203.8 from…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Japanese inflation grabs the Asian economic data spotlight on Friday as investors close out a bruising week marked by a soaring U.S. dollar, rising global bond yields and crumbling equity markets. The gloom enveloping markets…
