(This July 21 story has been corrected to say the proposed standards are not technologically feasible for some Rinnai products, not technologically impossible for its products, in paragraph 7) WASHINGTON (Reuters) – The U.S. Department of Energy on Friday proposed energy efficiency standards on water heaters it said would save consumers $11.4 billion on energy…
By Valerie Volcovici WASHINGTON (Reuters) – The Biden administration on Wednesday launched a Cabinet-level task force that will corral federal agencies to use technology to detect leaks of the potent greenhouse gas methane and help federal and local officials enforce methane regulations. The task force was launched at the same the White House is holding…
By Andy Bruce LONDON (Reuters) -Britain’s former finance minister Kwasi Kwarteng held back official warnings that borrowing was on course to rocket even before he attempted his ill-fated budget plans, new documents from the Office for Budget Responsibility (OBR) show. Kwarteng’s Growth Plan published on Sept. 23 formed the biggest package of tax cuts in…
(Reuters) – Russia’s annual inflation crept back above the central bank’s 4% target in the week to July 24 for the first time since late March, the economy ministry said on Wednesday. The Bank of Russia raised the cost of borrowing for the first time in more than a year last week, hiking to 8.5%…
(Reuters) – Weapons maker Lockheed Martin has been awarded a contract by a U.S. Department of Defense agency to develop a nuclear-powered spacecraft for the purposes of exploration and national defense, the company said on Wednesday. This comes at a time when U.S.-based space companies, along with Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX,…
By Jaiveer Shekhawat and Laura Matthews (Reuters) -CME Group Inc reported a rise in second-quarter profit on Wednesday, as traders turned to the world’s largest derivatives exchange to hedge against market volatility triggered by recession fears. Demand for CME’s risk-hedging investment products held steady as investors navigated a market riddled with worries of a looming…
By Samrhitha A (Reuters) -AT&T expanded its cost-cutting plan by $2 billion on Wednesday after topping estimates for quarterly free cash flow and reiterated it was conducting its own assessment of the lead-cable sites. The telecom industry came under pressure this month after the Wall Street Journal reported that AT&T and Verizon were among U.S….
By Doyinsola Oladipo and Priyamvada C (Reuters) – Hilton Worldwide Holdings beat Wall Street estimates for second-quarter revenue on Wednesday and lifted its annual outlook again, as record lodging prices and rebounding group, corporate and summer travel demand boosted results. Hotel operators like Hilton are beginning to see strong performance from a rebound in international…
PARIS (Reuters) -Shares in LVMH fell on Wednesday as an in-line increase in sales at the world’s top luxury indicated the overall sector was moving towards a less impressive path of growth. Despite a “solid” growth rate, the report “will likely trigger further questions…on whether we are now at the end of the positive earnings…
(Reuters) – Canada’s financial regulator on Wednesday proposed changes to its capital and liquidity approach to crypto-assets, citing a risky environment and in response to international banking standards. The Office of the Superintendent of Financial Institutions (OSFI)said guidelines were for federally regulated deposit-taking institutions, that includes banks and credit unions, and another for insurers, on…
