By Mimosa Spencer and Dominique Vidalon PARIS (Reuters) -Antoine Arnault, LVMH chairman Bernard Arnault’s eldest son, was on Friday named chief executive of family holding company Christian Dior SE, replacing veteran executive Sidney Toledano and stirring speculations of succession at the group. Christian Dior is a listed company that owns the bulk of the Arnault…
(Reuters) – Cryptocurrency exchange FTX secretly funded media company the Block for over a year with money sent to the Block’s chief executive, Axios reported on Friday, citing sources. The Block’s employees were previously unaware of the payments, according to the report. FTX did not immediately respond to a Reuters request for comment, while FTX’s…
By Arathy Somasekhar HOUSTON (Reuters) -An outage on the largest oil pipeline to the United States from Canada could affect inventories at a key U.S. storage hub and cut crude supplies to two oil-refining centers, analysts and traders said on Friday. TC Energy’s Keystone pipeline ferries about 600,000 barrels of Canadian crude per day (bpd)…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom is set to face a setback in its $61 billion bid for cloud computing company VMware with EU antitrust regulators poised to open a full-scale investigation into the deal, people familiar with the matter said. The proposed acquisition, the second biggest globally so far this…
By Vladimir Soldatkin and Guy Faulconbridge MOSCOW (Reuters) -Russia, the world’s biggest exporter of energy, could cut oil production and will refuse to sell oil to any country that imposes the West’s “stupid” price cap on Russian oil, President Vladimir Putin said on Friday. The Group of Seven major powers, the European Union and Australia…
By Arathy Somasekhar HOUSTON (Reuters) – An oil spill that shut TC Energy’s Keystone pipeline in the United States on Wednesday could squeeze crude inventories at the country’s primary storage hub and in two main refining regions, the Midwest and Gulf Coast, analysts and traders said on Friday. The Keystone line is a key artery…
(Corrects spelling of ‘Roland’ in paragraph 10) By David Randall NEW YORK (Reuters) -Investors who sell underperforming U.S. stocks to lock in tax benefits before year-end may be adding to recent pressure on equities while sowing the seeds of a January rebound in some corners of the market. With the S&P 500 down about 16%…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. producer prices rose slightly more than expected in November amid a jump in the costs of services, but the trend is moderating, with annual inflation at the factory gate posting its smallest increase in 1-1/2 years. The report from the Labor Department on Friday also showed underlying producer prices…
By Rachel Savage and Marc Jones JOHANNESBURG/LONDON (Reuters) – Ghana has begun restructuring its debt by rolling out a plan to swap $10.5 billion in local bonds with new ones, seeking IMF help and by preparing a proposal to restructure its foreign debt as the West African country struggles with its worst economic crisis in…
By Shadia Nasralla (Reuters) – Oil prices were stable on Friday, although both benchmarks headed for a weekly loss on worries over weak economic outlook in China, Europe and the United States weighing on oil demand. Brent crude futures were at $76.20 a barrel, up 5 cent, at 1216 GMT. Brent hit a 2022 low…
