By Scott DiSavino (Reuters) -U.S. natural gas and power prices hit multi-year highs on Friday ahead of extreme cold that was expected to bring record gas demand while also cutting supplies by freezing wells. Lower gas supplies at a period of surging demand could test power systems in hard-hit areas. Winter storms in 2021 and…
By Victoria Waldersee, Anna Ringstrom and Marie Mannes BERLIN/STOCKHOLM (Reuters) -Automakers Tesla and Geely-owned Volvo Car said they were suspending some production in Europe due to a shortage of components, the first clear sign that attacks on shipping in the Red Sea are hitting manufacturers in the region. The United States and Britain launched a…
(Reuters) -Airlines in the United States canceled more than 2,000 flights on Friday after a massive winter storm knocked out power and affected businesses in 12 states ahead of a likely brutal freeze over the weekend. A total of 2,058 flights were canceled and 5,846 flights were delayed as of 5.30 p.m. ET, according to…
By Niket Nishant and Nupur Anand (Reuters) – JPMorgan Chase reported its best-ever annual profit and forecast higher-than-expected interest income for 2024, even as its quarterly profit fell. The largest U.S. lender also took a nearly $3 billion charge to replenish a government deposit insurance fund. JPMorgan benefited from its acquisition of failed First Republic…
By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines on Friday scaled down its profit outlook for the current year, citing higher costs, supply chain issues and macroeconomic uncertainties. The company’s shares fell more than 8% shortly after midday, dragging down the broader the NYSE Arca Airline index. The Atlanta-based carrier now expects an adjusted…
By Chris Kirkham LOS ANGELES (Reuters) -U.S. President Joe Biden’s son Hunter Biden pleaded not guilty on Thursday in federal court in Los Angeles to tax charges stemming from business dealings that have also prompted an impeachment probe of his father. Hunter Biden, 53, stands criminally accused of failing to pay $1.4 million in taxes…
By Aditya Soni (Reuters) -Microsoft on Thursday briefly overtook Apple as the world’s most valuable company for the first time since 2021 after the iPhone maker’s shares made a weak start to the year on growing concerns over demand. Microsoft’s shares have risen sharply since last year, thanks to the early lead the company has…
By Daniel Wiessner (Reuters) -The U.S. Department of Labor on Tuesday issued a final rule that will force companies to treat some workers as employees rather than less expensive independent contractors, in a move that has riled business groups and will likely prompt legal challenges. The rule is widely expected to increase labor costs for…
(Reuters) – Meta Platforms said on Tuesday it would hide more content from teens on Instagram and Facebook, after regulators around the globe pressed the social media giant to protect children from harmful content on its apps. All teens will now be placed into the most restrictive content control settings on the apps and additional…
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil’s write-down of about $2.5 billion of troubled California properties aims to end five decades of offshore oil production in the state, but a full exit from those assets could take some time. Sable Offshore, a company created in 2020, agreed more than a year ago to pay…
