By Noah Browning LONDON (Reuters) -Oil prices fell on Monday after weaker than expected factory activity data out of China and on concerns that the country’s widening COVID-19 curbs will curtail demand. Brent crude futures dropped 69 cents, or 0.7%, to $95.08 a barrel by 1240 GMT, extending Friday’s 1.2% decline. U.S. West Texas Intermediate…
By Alex Lawler ABU DHABI (Reuters) – OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition. The view from the Organization of the Petroleum Exporting Countries, in its 2022…
LONDON (Reuters) – A New York judge has dismissed criminal charges against Tom Hayes, the British trader who became the face of the global Libor interest rate scandal. The former UBS and Citigroup trader served more than five years in prison in Britain for conspiring to rig Libor (London interbank offered rate) – a benchmark…
By Chris Taylor NEW YORK (Reuters) – Next time you are visiting the National Archives Museum in Washington, D.C., check out the 1297 copy of the Magna Carta, essentially the first written constitution in European history. It may have been drawn up under England’s King John, but these days it belongs to David M. Rubenstein….
MILAN (Reuters) -Italian spirits group Campari said on Monday it had reached an agreement to buy an initial 70% stake in Wilderness Trail Distillery for $420 million, strengthening its bourbon offer. Under the agreement, Campari has an option to buy the remaining 30% of the Kentucky-based producer of bourbon and rye whiskey in 2031. The…
BERLIN (Reuters) – Far fewer German businesses feel their survival is at risk now than at the height of the COVID-19 pandemic, a survey by economic institute Ifo showed on Monday. The survey of some 7,000 businesses, conducted from Oct. 4 to 24, showed 7.5% felt their economic survival is threatened. “At the height of…
TOKYO (Reuters) -Japan’s Panasonic Holdings Corp said on Monday it will start building a new battery plant in Kansas in November and aims to begin mass production by March 2025, targeting North America’s fast-growing market for electric vehicles. The conglomerate’s energy unit, which supplies batteries to Tesla Inc, said in July it had picked Kansas…
TOKYO (Reuters) – Japan’s Panasonic Holdings Corp posted on Monday an 11% drop in second-quarter operating profit, but performed better than analysts’ estimates. It reported 86.1 billion yen ($582.54 million) in operating profit for the three months to end-September, versus an average 81.6 billion yen profit estimated by nine analysts, according to Refinitiv data. A…
By Tetsushi Kajimoto TOKYO (Reuters) – Japan will announce on Monday that it spent what was likely a record amount on currency intervention this month to prop up the yen, with market players keen for clues about how much further the authorities might step in to ease the yen’s sharp fall. A compilation of estimates…
By Lewis Jackson SYDNEY (Reuters) – Hundreds of Apple workers in Australia are set to strike again after almost two-thirds of employees rejected a pay and benefits deal, the latest escalation of a fight that has seen weeks of walkouts at stores around the country. Results released on Monday show 68% of Apple workers rejected…
