By Laura Sanicola (Reuters) – Oil prices rose in early Asian trade on Friday after falling 2% in the previous session on central bank interest rates hikes, and is poised to end the week higher after a series of positive oil demand forecasts. Brent crude futures rose 36 cents or 0.4% to $81.57 per barrel…
By Maria Ponnezhath and Hyunjoo Jin (Reuters) -Tesla boss Elon Musk disclosed another $3.6 billion in stock sales on Wednesday, taking his total near $40 billion this year and frustrating investors as the company’s shares wallow at two-year lows. A U.S securities filing showed he unloaded 22 million shares in the world’s most valuable carmaker…
(Reuters) – Aurizon Holdings, Australia’s largest rail freight operator, said on Friday it will sell its East Coast Rail (ECR) business to Magnetic Rail Group for A$425 million ($284.71 million) in cash. Aurizon said in a statement the sale was in accordance with its agreement with the country’s competition regulator, following its $1.75 billion acquisition…
WASHINGTON (Reuters) – Southwest Airlines customer service employees overwhelmingly ratified a new five-year collective bargaining agreement that includes an immediate 13.1% wage increase, the IAM union said on Thursday. The agreement covers 8,300 customer representatives and service agents and includes a 25.1% general wage increase over four years which IAM said will put its members at the top of the…
By Chris Prentice, Xie Yu and Susan Heavey NEW YORK/HONG KONG/WASHINGTON (Reuters) – The U.S. accounting watchdog on Thursday said it has gotten full access to inspect and investigate firms in China for the first time ever, removing the risk that around 200 Chinese companies could be kicked off U.S. stock exchanges. The statement from…
By Dietrich Knauth (Reuters) – The U.S. Department of Justice’s bankruptcy watchdog on Thursday appointed a committee to represent FTX accountholders and other junior creditors in the collapsed crypto exchange’s bankruptcy case. The committee – which includes a mix of individual account holders, investment funds, and an affiliate of U.S. crypto firm Genesis – will…
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) – The European Central Bank eased the pace of its interest rate hikes on Thursday but stressed significant tightening remained ahead and laid out plans to drain cash from the financial system as part of a dogged fight against runaway inflation. After being wrong-footed by sudden price…
By Richa Naidu and Jessica DiNapoli LONDON (Reuters) -Unilever said on Thursday that its litigation with the independent board of Ben & Jerry’s over the sale of its Israeli ice cream business has “been resolved”. The company did not provide details of how the litigation had been resolved. Unilever in June sold its Ben &…
By Karen Brettell NEW YORK (Reuters) – The euro fell on Thursday as investors took profits from a brief surge in the currency after European Central Bank President Christine Lagarde said more interest rate hikes are needed to tame inflation. The dollar was also boosted by worsening risk appetite as stocks fell. The ECB raised…
WASHINGTON (Reuters) – The United States on Thursday targeted Russia’s financial services sector and Russian businessman Vladimir Potanin as Washington increases pressure on Moscow over its invasion of Ukraine. The U.S. State Department imposed sanctions on Potanin, one of Russia’s richest men, and people associated with him, the Treasury Department said in a statement. The…
