By Sonali Paul MELBOURNE (Reuters) – Oil prices climbed on Wednesday, erasing losses from the previous session, on hopes of progress in peace talks between Russia and Ukraine and providing a fresh reminder supply remains tight as data showed U.S. crude stocks fell sharply last week. Brent crude futures touched a high of $112.78 shortly…
(Reuters) – A U.S. judge ruled on Tuesday that a lawsuit accusing Meta Platforms Inc’s Facebook of deceiving advertisers about its “potential reach” tool can proceed as a class action. The decision by U.S. District Judge James Donato in San Francisco allows potentially millions of individuals and businesses that paid for ads on Facebook and…
By Luc Cohen NEW YORK (Reuters) – U.S. prosecutors on Tuesday sought to cast doubt on the testimony of the wife of a former Goldman Sachs banker, who is on trial over allegations he helped loot Malaysia’s 1MDB sovereign wealth fund. Roger Ng, Goldman’s former chief for Malaysia, is charged with conspiring to launder money…
By Ananya Mariam Rajesh (Reuters) -Lululemon Athletica on Tuesday forecast full-year profit and revenue above estimates as demand for athletic wear remains consistent even as people return to offices, and said it plans selective price increases on some of its products. Shares of the yogawear maker rose about 8% in extended trading as the company…
By Joseph White and David Shepardson (Reuters) – United Auto Workers (UAW) President Ray Curry said on Tuesday he has had no discussions with Tesla or its Chief Executive Elon Musk about a potential union vote by workers at the electric-car maker’s California factory. On March 3, Musk tweeted that he was inviting the “UAW…
(Reuters) – Petrobras has a strong governance and there is no room for “adventurers” within the firm, said outgoing Chief Executive Joaquim Silva e Luna on Tuesday. During a lecture at the Superior Military Court, in Brasilia, he came out in defense of the state-owned company’s price parity policy, which guarantees its profitability in the…
(Reuters) – Flexible workspace provider WeWork Inc on Tuesday named Chief Executive Officer Sandeep Mathrani as chairman and said SoftBank Group International’s Saurabh Jalan has joined the company’s board. (Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)
(Reuters) – Lululemon Athletica forecast full-year revenue above analysts’ estimates on Tuesday, signaling demand for athletic wear would remain consistent even as people return to offices and resume travel. The company forecast full-year 2022 revenue between $7.49 billion and $7.62 billion, while analysts are expecting $7.30 billion, according to IBES data from Refinitiv. (Reporting by…
By David Lawder and Kate Holton LONDON/WASHINGTON (Reuters) -The United States and its allies plan new sanctions on more sectors of Russia’s economy that are critical to sustaining its invasion of Ukraine, including military supply chains, Deputy U.S. Treasury Secretary Wally Adeyemo said on Tuesday. Adeyemo, speaking in London on a European trip to consult…
By Megan Davies and Ira Iosebashvili NEW YORK (Reuters) – The U.S. Treasury yield curve is flashing a warning sign to Wall Street, where many are worried that a recession could be in store after bond investors pushed up short-term rates to the point where yields on the two-year Treasury were actually higher than the…
