By Michael Hogan HAMBURG (Reuters) – Major grain importers in the Middle East and North Africa have reacted calmly to the end of the safe shipping corridor for Ukraine’s exports through the Black Sea this week, European commodity traders said on Thursday. “There has not been panic buying by importers this time around on the…
(Reuters) -A slump in copper production and shipping delays in Indonesia dragged Freeport-McMoRan Inc’s second-quarter profit down by 60%, although results narrowly beat Wall Street’s expectations. Shares rose 2.8% in Thursday morning trading alongside a rise in copper prices. The results lay bare the mining industry’s problem getting access to skilled labor to produce the…
By Kopano Gumbi, Nellie Peyton and Tannur Anders PRETORIA (Reuters) -South Africa’s central bank decided to halt interest rate hikes on Thursday for the first time since November 2021, but Governor Lesetja Kganyago was quick to add that the pause did not mean an end to the hiking cycle. The South African Reserve Bank’s (SARB)…
WASHINGTON (Reuters) – Twitter, which has asked a court to terminate a consent order struck last year with the Federal Trade Commission (FTC) related to data breaches, said in a court filing on Thursday that it planned to subpoena Senator Elizabeth Warren in connection with the fight. After billionaire Elon Musk took over Twitter last…
BENGALURU (Reuters) -Jaguar Land Rover (JLR), a unit of Indian automaker Tata Motors, said on Thursday it appointed interim boss Adrian Mardell as chief executive officer for a three-year term. Mardell, who has been with JLR for 33 years and became chief financial officer in 2019, transitioned to the interim CEO role last November when…
By Viktoria Lakezina MYKOLAIV, Ukraine (Reuters) -At least three people were killed and a Chinese consular building was damaged on Thursday in a third successive night of air strikes on southern Ukrainian port cities, Ukrainian officials said. Regional governor Oleh Kiper posted a photograph showing at least one broken window at the Chinese consulate in…
By Raghav Mahobe and Ananya Mariam Rajesh (Reuters) – Kenvue, the former consumer health unit of Johnson & Johnson, forecast full-year profit above Wall Street estimates on Thursday, betting on resilient demand for its skincare and self-care products such as Neutrogena and Tylenol. Shares of the company still fell as much as 10% after J&J,…
By Timothy Gardner WASHINGTON (Reuters) -A group of nearly 150 environmental justice groups urged the Biden administration on Wednesday to abandon talks with global energy companies on standards for “certified” natural gas, a form of the fuel that producers market as climate friendly, but critics say undermines the transition from fossil fuels. The United States…
By Noel Randewich (Reuters) – China’s frail growth could weigh on companies with exposure to the world’s second-largest economy, including Apple, big chipmakers and luxury retailers as they report quarterly results in the next few weeks. Wall Street is bracing for a steep drop in second-quarter U.S. earnings, with profit margins expected to be hurt…
By Hannah Lang (Reuters) – The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country’s payment system by eventually allowing everyday Americans to send and receive funds in seconds, 24 hours a day, seven days a week, the central bank announced on Thursday. The “FedNow” service, which has been…
