By David Gaffen New York (Reuters) – Oil prices rose on Wednesday, buoyed by tight supplies and as U.S. refiners drove processing activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July settled up 47 cents to $114.03 a barrel, while U.S. West Texas Intermediate (WTI) crude for July…
By Divya Chowdhury and Savio Shetty DAVOS, Switzerland (Reuters) – Years of under-investment in mining of metals essential to energy transition, supply shocks and high energy prices will continue to drive commodity prices higher, Eurasian Resources Group (ERG) Chief Executive Benedikt Sobokta said on Wednesday. Combined with COVID-related logistical issues and demand for transparency on…
By Sheila Dang (Reuters) -Twitter Inc investors voted against re-electing an ally of Elon Musk to the board at an annual meeting on Wednesday that avoided the biggest question for the social media company: will it complete a $44 billion sale to the billionaire. Investors voted against Egon Durban, the co-head of private equity firm…
By Ross Kerber, Arriana McLymore and Eva Mathews BOSTON/NEW YORK (Reuters) -Amazon.com Inc shareholders on Wednesday voted against all investor-led resolutions that challenged the company’s policies – including its use of plastics and certain concealment clauses in contracts – at the company’s annual meeting. A total of 15 investor resolutions were considered, including one introduced…
By Daphne Psaledakis and Karin Strohecker WASHINGTON/LONDON (Reuters) -The United States pushed Russia closer to the brink of a historic debt default on Wednesday by not extending its license to pay bondholders, as Washington ramps up pressure following Russia’s invasion of Ukraine. The U.S. Treasury Department late on Tuesday it would let lapse a license…
By Kirstin Ridley LONDON (Reuters) -Volkswagen will pay 193 million pounds ($242 million) as part of an out-of-court settlement to around 91,000 British drivers over a diesel emissions scandal that engulfed Europe’s largest carmaker in 2015. Volkswagen (VW) on Wednesday again apologised to customers in England and Wales as it pledged to rebuild trust. “The…
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Stock markets rose and benchmark U.S. treasury yields fell on Wednesday as traders waited for news from the U.S. Federal Reserve – the world’s most influential central bank – that might shed light on the path of its policy tightening. Nerves about a global recession were jangled…
By Lucia Mutikani WASHINGTON (Reuters) – New orders for U.S.-made capital goods increased less than expected in April, suggesting businesses could be slowing their pace of spending on equipment as they confront growing headwinds from rising interest rates and tightening financial conditions. The mixed report from the Commerce Department on Wednesday followed on the heels…
By David Gaffen New York (Reuters) – Oil prices rose on Wednesday, buoyed by tight supplies and as U.S. refiners drove processing activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July rose by 48 cents to $114.03 a barrel by 10:50 a.m. EDT (1450 GMT). U.S. West Texas…
By Dietrich Knauth (Reuters) -Teva Pharmaceutical Industries and AbbVie’s Allergan unit reached a settlement worth $161.5 million to resolve claims the companies fueled an opioid epidemic in West Virginia, state attorney general Patrick Morrisey said Wednesday. The agreement is the largest state-negotiated settlement in West Virginia history, and consists of $134 million in cash plus…
