By Nia Williams CALGARY, Alberta (Reuters) -Canada said on Friday it will halt any further public funding for the Trans Mountain oil pipeline expansion, after the government-owned company behind the project said costs had surged 70% to C$21.4 billion ($16.8 billion). Trans Mountain Corp (TMC) also delayed the finish date of the expansion by a…
By Jonathan Stempel NEW YORK (Reuters) – A new U.S. lawsuit filed on Friday accuses L’Oreal SA of causing American shoppers to overpay for its beauty products by misleading them into thinking they are actually made in France. Veronica Eshelby, the plaintiff in the proposed class action, said L’Oreal’s labeling its products “L’Oreal Paris” and…
By Herbert Lash NEW YORK (Reuters) -A gauge of global stocks fell and government debt prices rose on Friday after hopes that diplomacy might resolve the Ukraine crisis faded on news Russian-backed separatists were evacuating residents from breakaway regions in the country’s east. Sentiment soured as shelling increased in eastern Ukraine and a rebel leader…
By Susan Mathew and Noel Randewich (Reuters) – Wall Street’s main stock indexes ended lower on Friday as escalating tensions in Ukraine and U.S. statements of an imminent Russian invasion prompted investors to dump risky assets in the run-up to a long weekend. The Nasdaq fell sharply, pulled lower by declines in high-growth stocks, including…
By Susan Mathew and Noel Randewich (Reuters) – Wall Street’s main stock indexes fell on Friday as escalating tensions in Ukraine and U.S. statements of an imminent Russian invasion prompted investors to dump risky assets in the run-up to a long weekend. Most of the major S&P 500 sectors were in the red, with energy…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – After a turbulent start to the year, investors are betting stock market volatility isn’t going away anytime soon. While tensions between Russia and Ukraine have been the most recent driver of stock market gyrations, many expect inflation, uncertainty over monetary policy and stretched valuations to keep stirring…
By Howard Schneider New York (Reuters) -When the Federal Reserve tacked to a new brand of monetary policy 18 months ago it thought it could deliver low unemployment and tame inflation. It may end up with neither, five top bank and academic economists wrote in a critique released on Friday. Their paper envisions a scenario…
By Chavi Mehta and Nivedita Balu (Reuters) – Intel Corp’s latest focus on making chips to meet rising demand will give Advanced Micro Devices Inc, its biggest rival in the server and PC market, a chance to build a greater foothold in the segment, analysts said. Intel, which plans large investments in chip technologies in…
By Laura Sanicola (Reuters) -Oil prices extended losses on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis. Brent crude futures fell 13 cents, or 0.1%, to $92.84 a barrel by 12:26 p.m. EDT (1526 GMT), extending…
By Lucia Mutikani WASHINGTON(Reuters) -U.S. home sales unexpectedly increased in January, but investors paying in cash are squeezing out first-time buyers from the housing market amid record low inventory and higher prices. The surge in sales of previously owned homes last month reported by the National Association of Realtors on Friday likely reflected buyers rushing…
