By Stephanie Kelly NEW YORK (Reuters) – U.S. oil producers were much more active last year in the prolific Permian Basin than the Energy Information Administration previously thought, the agency said on Wednesday, though its production forecasts for the region remain unchanged. The EIA revised the number of drilled but uncompleted (DUC) wells in the…
By Lisa Baertlein CHICAGO (Reuters) -The U.S. supply chain is healing from early pandemic shocks that sent shipping costs skyrocketing and squeezed supplies of everything from toilet paper to pasta, but more than three years later, material shortages and hiring woes linger. Rates for trucking, ocean shipping and other transportation tumbled after U.S. consumers shifted…
WASHINGTON (Reuters) – Boeing Co said on Wednesday it is rolling out a data modeling tool aimed at helping airlines and policymakers determine the quickest, most efficient path to reducing aviation emissions to zero by 2050. The tool, known as Cascade, allows users to adjust different variables – such as the use of sustainable fuels…
SAO PAULO (Reuters) – Brazil’s antitrust regulator Cade on Wednesday recommended the approval of the sale of Natura & Co’s Aesop brand to French cosmetics company L’Oreal, according to the country’s daily gazette. Last month, L’Oreal agreed to buy Australian luxury brand Aesop from Natura for an enterprise value of $2.53 billion. Under the regulator’s…
ZURICH (Reuters) – Credit Suisse’s collapse and its takeover by UBS will be investigated by a parliamentary commission (PUK), the office of Switzerland’s upper house of parliament said on Wednesday. The move comes after two sub-committees supported a deeper investigation into how the government, Swiss central bank and financial market regulator acted in the run…
By Sarah N. Lynch and Laura Sanicola WASHINGTON (Reuters) – A subsidiary of BP plc will pay a record-setting $40 million penalty to settle civil U.S. charges that its Indiana-based oil refinery violated federal laws aimed at curbing emissions of cancer-causing benzene in wastewater and other harmful pollutants, the U.S. Justice Department said on Wednesday….
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -Tesla Inc has proposed setting up a factory in India to build electric cars for domestic sale and export, the carmaker told government officials on Wednesday, according to a source with direct knowledge of the matter. The proposal comes after India refused to agree to Tesla’s…
(Reuters) – TJX Cos Inc raised its annual profit forecast on Wednesday, banking on lower costs and resilient demand from inflation-hit consumers switching to discount retailers. The discount store operator now expects 2024 adjusted profit per share to be between $3.39 and $3.48, compared with its previous range of $3.29 to $3.41. (Reporting by Granth…
BRUSSELS (Reuters) – Broadcom has has offered interoperability remedies in an attempt to address EU antitrust concerns about its $61 billion bid for VMware, people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed on Wednesday. The EU competition enforcer, which did not provide details in line with…
By Noah Browning LONDON (Reuters) -Oil prices were steady on Wednesday after a surprise rise in U.S. crude inventories stoked demand concerns as economic worries competed with a tighter supply outlook for later in the year. Brent crude futures rose 2 cents, or 0.7%, to $74.42 a barrel. West Texas Intermediate U.S. crude was down…
