By Rowena Edwards LONDON (Reuters) -Oil prices rose on Thursday as a surprise drop in U.S. crude stockpiles and a halt to exports from Iraq’s Kurdistan region offset a smaller than expected cut to Russian supplies. Brent crude futures rose 57 cents, or 0.73%, to $78.85 a barrel by 1327 GMT, while West Texas Intermediate…
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits rose moderately last week, showing no signs yet that tightening credit conditions were having a material impact on the labor market, which remains tight. Initial claims for state unemployment benefits increased 7,000 to a seasonally adjusted 198,000 for the week ended March…
By Rowena Edwards LONDON (Reuters) -Oil prices rose on Thursday as a surprise drop in U.S. crude stockpiles and a halt in exports from Iraq’s Kurdistan region offset a smaller-than-expected cut to Russian supplies. Brent crude futures rose 49 cents, or 0.63%, to $78.77 a barrel at 1145 GMT, while West Texas Intermediate crude rose…
By Lena Masri (Reuters) – The founders of artificial intelligence company NtechLab said they resigned over disagreements with the company’s management and investors about projects in Russia. One of the founders left Russia in December 2021 while the other left in March 2022, shortly after Russia’s invasion of Ukraine, they said. The two founders’ comments…
(This March 29 story has been corrected to say ‘latest major videogame publisher’ instead of first in paragraph 1) (Reuters) – Electronic Arts Inc said on Wednesday it would lay off about 6% of its workforce and reduce office space, making it the latest major videogame publisher to announce job cuts. Technology firms have led…
By Ellen Zhang and Marius Zaharia BEIJING/HONG KONG (Reuters) – Some of China’s most indebted local governments are on a hiring spree, a move that analysts say could put fragile regional finances under more strain as officials seek to create jobs for a record number of graduates entering the workforce this year. China’s huge and…
SEOUL (Reuters) -Criteria to qualify for new U.S. semiconductor subsidies could be “burdensome” for companies such as Samsung Electronics Co Ltd and SK Hynix Inc, South Korea’s trade minister said on Thursday. Conditions include sharing excess profit with the U.S. government, and three industry sources said the application process itself could expose confidential corporate strategy….
By Jeslyn Lerh SINGAPORE (Reuters) – Oil was nearly steady on Thursday as a surprise drop in U.S. crude stockpiles offset a smaller-than-expected cut to Russian supplies, while investors closely watched developments on Iraqi Kurdistan oil exports. Brent crude futures fell 5 cents, or 0.1%, to $78.23 a barrel at 0630 GMT, while West Texas…
(Reuters) – Tesla Inc said on Wednesday a $7,500 tax credit in place since January will be reduced for its Model 3 ear-wheel drive by March 31, subject to guidance due this week from the U.S. Treasury Department on the sources of battery components. The Treasury Department is due to issue guidance on sourcing of…
A look at the day ahead in European and global markets from Ankur Banerjee With sentiment still fragile in the aftermath of the banking crisis, a risk-on rally proved short-lived, leaving the MSCI ex-Japan index swinging between gains and losses on Thursday. The dollar firmed up, continuing its rebound, while gold eased. But as we…
