By Herbert Lash NEW YORK (Reuters) -The dollar consolidated gains on Friday and posted its biggest weekly rise in seven months as markets priced in a year ahead of aggressive hikes in U.S. interest rates. Money markets priced in a 28.5-basis-point interest rate hike in March and as many as 119.5 basis points in cumulative…
By Swati Verma BENGALURU (Reuters) -Oil prices rose to a more than seven-year peak on Friday and recorded their sixth straight weekly gain as geopolitical turmoil exacerbated concerns over tight energy supply. On a weekly basis, the benchmark contracts notched their longest run of gains since October. Brent futures rose 69 cents to settle at…
By Agustin Geist, Nicolás Misculin and Adam Jourdan BUENOS AIRES (Reuters) -Argentina has struck an agreement in principle with the International Monetary Fund over a new $44.5 billion standby deal, both sides said on Friday, a major breakthrough in tense talks to restructure loans the country cannot repay. The South American country has been locked…
By Sabrina Valle HOUSTON (Reuters) -Chevron Corp on Friday reported a fourth quarter profit that missed Wall Street estimates and offered a weak outlook for this year’s oil and gas production, sending its shares lower. The first major oil company to report fourth quarter results posted earnings of $5.1 billion, or $2.65 a share. Analysts…
OTTAWA, Jan 28 (Reuters) – Canada recorded a much smaller budget deficit in the first eight months of fiscal 2021/22 compared to the same period a year ago, as the costs of the COVID-19 crisis continued to recede, the finance ministry said on Friday. The April to November shortfall was C$73.70 billion ($57.75 billion) compared…
By Devik Jain and Bansari Mayur Kamdar (Reuters) -Wall Street’s main indexes reversed course to move higher on Friday, propelled by gains in Apple and Visa, at the end of a week marked by wild gyrations on worries about aggressive rate hikes by the Federal Reserve and geopolitical tensions. Apple Inc shares jumped 5.7% after…
By Sabrina Valle HOUSTON (Reuters) – Chevron Corp is reviewing a federal judge decision that invalidated the results of an oil and gas lease sale in the Gulf of Mexico on Thursday, saying the Biden administration failed to properly account for the auction’s climate change impact. “We’re disappointed because these lease sales have been conducted…
By Bianca Flowers and Uday Sampath Kumar (Reuters) -Caterpillar Inc topped Wall Street estimates with a fourth quarter revenue increase of more than 20 percent, but the heavy-equipment maker warned operating margins in the current quarter could be hit by higher production and labor costs. Shares of the world’s largest construction and mining equipment maker…
By Swati Verma BENGALURU (Reuters) – Oil prices extended gains to their highest levels in over seven years on Friday as ongoing global political turmoil fanned concerns over tight supply. The benchmark contracts are on track for their sixth straight weekly rise, the longest run of gains since October. Brent futures rose $1.25, or 1.4%,…
BERLIN (Reuters) – Daimler AG will be formally renamed Mercedes-Benz Group AG on Tuesday – nearly a year after the spin-off of its truck and bus division was announced – in a move its boss hopes will unlock shareholder value for the premium carmaker. The change is the latest in a string of structural reshuffles…
