By Philip Blenkinsop LULEA, Sweden (Reuters) – The United States and the European Union pledged on Wednesday to join forces to counter China’s non-market economic practices and disinformation, particularly over Russia’s invasion of Ukraine. The two partners sought at their Trade and Technology Council in Sweden to find common interests, such as over artificial intelligence…
HOUSTON (Reuters) – Oil major Chevron Corp’s shareholders overwhelmingly voted against proposals on climate, including emissions. About 90.4% of preliminary votes cast were against a proposal to set a medium-term scope 3 greenhouse gas emissions reduction target. Shareholder voted in favor of reelecting all directors to the board at the annual general meeting. (Reporting by…
HOUSTON/CARACAS (Reuters) – A group of Venezuela-related expropriation claims at U.S. courts pursuing Citgo Petroleum’s assets surpass $20 billion, making it difficult for the Houston-based refiner to compensate them all, the chief of a board supervising the company said on Wednesday. However, some payments can be negotiated, said Horacio Medina, head of the board that…
By Martin Quin Pollard BEIJING (Reuters) -Billionaire Elon Musk was showered with praise during a trip to China this week, with people on social media calling him “a pioneer”, “Brother Ma” and “a global idol” while the CEO of Tesla, Twitter, SpaceX and other companies also met in person with three government ministers. Since landing…
By Mehnaz Yasmin (Reuters) -Franklin Resources Inc, a global investment management firm that operates as Franklin Templeton, plans to acquire asset manager Putnam Investments from Great-West LifeCo Inc in a nearly $925 million deal. The deal, expected to close in the fourth quarter of this year, is part of a partnership with Power Corporation of…
By Jonathan Landay WASHINGTON (Reuters) -The Qatari prime minister held secret talks with the supreme leader of the Taliban this month on resolving tension with the international community, a source briefed on the meeting said, signaling a new willingness by Afghanistan’s rulers to discuss ways to end their isolation. The May 12 meeting in the…
(Reuters) – Shares of Intel Corp rose about 5% after the chipmaker’s finance chief said on Wednesday that the company is on track to hit the upper end of its second-quarter revenue forecast. Semiconductor stocks have rallied over the past week after gaming and AI chip company Nvidia Corp forecast quarterly revenue that stunned Wall…
By Pete Schroeder WASHINGTON (Reuters) – U.S. banks saw total deposits decline by a record 2.5% in the first quarter of 2023, and industry-wide profits were relatively flat after taking into account the effects of two large bank failures, the Federal Deposit Insurance Corporation said Wednesday. The FDIC said the $472 billion in deposit outflows…
NEW YORK (Reuters) – The probability of a U.S. default has declined to its lowest since January, according to MSCI estimates, as a debt ceiling deal gets closer to the finish line. The one-year market implied probability of a default as of market close on May 30 stood at 1.3%, the lowest level since January,…
By Nupur Anand and Saeed Azhar NEW YORK (Reuters) -Wells Fargo & Co’s Chief Executive Officer Charlie Scharf said on Wednesday that there will be losses in the office loan space but the lender was proactively managing its portfolio. “We will see losses, no question about it. But in the context of the overall portfolio…
