By Laura Sanicola (Reuters) -Oil prices settled higher on Monday, reversing losses as investors grew optimistic that holiday travel in China would boost fuel demand in the world’s largest oil importer. Brent crude settled up $1.07, or 1.3%, at $82.73 a barrel while U.S. West Texas Intermediate crude settled up 89 cents, or 1.1%, at…
LONDON (Reuters) – Zambia has sent a debt restructuring proposal to its official creditors, a spokesperson for the government’s advisors said on Monday. The country, which was the major sovereign casualty of the COVID-19 pandemic and has been in default since 2020, said on Friday it would share a first fully-formed debt restructuring plan with…
By Nina Chestney and Susanna Twidale LONDON (Reuters) – After a bumper year for floating offshore wind farm tenders, the nascent industry is poised for explosive growth in the coming decade as countries strive to cut their carbon emissions. But it’s unlikely to be all plain sailing. Rising costs and supply chain bottlenecks have hit…
WASHINGTON (Reuters) – Lawyers for the U.S. Justice Department and Assa Abloy, the world’s biggest lockmaker, began arguments Monday in a fight over whether the Swedish company can go forward with a $4.3-billion deal to buy a division of Wisconsin-based Spectrum Brands Holdings Inc that makes residential door locks. Speaking for the government, Matthew Huppert…
FRANKFURT (Reuters) – Daimler Truck on Monday said its first-quarter results came in above market expectations, boosted by what it said was strong demand and an increase in unit sales. Preliminary first-quarter adjusted earnings before interest and tax cane in at 1.162 billion euros ($1.28 billion), up 78% year-on-year and also higher than the 976…
By Hyonhee Shin SEOUL (Reuters) -South Korean President Yoon Suk Yeol set off on Monday for the United States and a summit with President Joe Biden at a time of rare questioning in South Korea of an alliance that has guaranteed its security for decades. Yoon’s April 24-29 trip is the first state visit to…
By Kirstin Ridley LONDON (Reuters) – A former Barclays banker alleges he was undermined, harassed and denied appropriate compensation and promotion because of his Cameroonian background after raising concerns about how the bank constructed some financial models. Louis Samnick, 44, who left Barclays in 2021 after a decade at the bank, is the second of…
FRANKFURT (Reuters) – German pharmaceuticals and agriculture group Bayer on Monday confirmed its 2023 sales and earnings guidance and reiterated that business would not really pick up before the second half of the year. “We are expecting business to be relatively sluggish in the first half-year compared with the very strong previous year,” Chief Executive…
MILAN (Reuters) – Goldman Sachs had raised a stake in Italian bank UniCredit it built mostly through various financial derivative contracts to 7.62% as of April 18, a regulatory filing showed on Monday. The stake, held by Goldman through a number of its own companies, stood at 6.2% on April 13 and rose to as…
PARIS (Reuters) – The European Central Bank has already gone “most of the way” in raising interest rates to tackle inflation, French ECB policymaker Francois Villeroy de Galhau said on Monday, adding any further rate hikes needed to be limited in number and size. In an annual report to French President Emmanuel Macron published on…
