(Reuters) – Shares of pot companies were trading higher on Thursday as the U.S. Senate Banking Committee prepares to discuss the SAFE Banking Act, a crucial legislation that would make it easier for the cannabis industry to access banking services. If the bill advances through the committee stage, it would be voted by the Senate…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits jumped to a 1-1/2-year high last week, pointing to cracks in the labor market as demand slows, potentially giving the Federal Reserve room to halt further interest rate increases next month. With demand cooling, inflation pressures are subsiding. Producer…
By Marianna Parraga HOUSTON (Reuters) -Refiner Citgo Petroleum Corp has reported first-quarter net profit of $937 million on firm motor fuel demand, refining output and margins, a strong result that could help the Venezuela-owned company negotiate with creditors. The profit, compared with $245 million in the same period last year, continued a string of solid…
By Melanie Burton MELBOURNE (Reuters) – Shares in Australian-listed lithium miners jumped on Thursday after a $10.6 billion merger in the sector raised expectations for more consolidation among producers of the key metal in electric vehicle batteries. The tie up between Allkem Ltd and Livent announced on Wednesday will create the world’s third-biggest producer of…
By Matt Spetalnick, David Brunnstrom and Michael Martina WASHINGTON (Reuters) -China is facing a growing backlash from the United States and other Western governments over its controversial efforts to pressure dissidents and their advocates abroad, but Beijing has appeared undeterred. Authorities in the U.S., Canada, Britain and elsewhere recently have taken a hard line,…
MOSCOW (Reuters) – A Russian court fined Alphabet’s Google <GOOGL.O> 3 million roubles ($38,600) on Thursday for failing to delete YouTube videos it said promoted “LGBT propaganda” and “false information” about Russia’s military campaign in Ukraine, Russian news agencies reported. Over the last year Moscow has levied dozens of fines against Western tech companies as…
By Blake Brittain (Reuters) – U.S. Circuit Judge Pauline Newman of the Federal Circuit sued the appeals court’s chief judge and others in Washington federal court on Wednesday, seeking to block their investigation into her fitness to hold office. Newman, who is 95, said in her complaint that the probe violated her constitutional rights, and…
By Greg Bensinger (Reuters) -Google announced a flurry of artificial intelligence products – but users might need AI just to understand them all. The Alphabet Inc unit on Wednesday demonstrated or referenced at least 15 different AI products and features ranging from software solely for creating smartphone wallpaper to another for organizing personal files to…
By Howard Schneider WASHINGTON (Reuters) -Climate change does not pose such “significantly unique or material” financial stability risks that the Federal Reserve should treat it separately in its supervision of the financial system, Fed Governor Christopher Waller said on Thursday in a detailed rebuttal of demands for climate initiatives by the U.S. central bank. “Climate…
By David Shepardson WASHINGTON (Reuters) -A U.S. Senate panel on Wednesday approved rail safety legislation that tightens rules on trains carrying explosive substances like the Norfolk Southern-operated train that derailed on Feb. 3 in Ohio, catching fire and releasing over a million gallons of hazardous materials and pollutants. The U.S. Senate Commerce Committee voted 16-11…
