By Koh Gui Qing and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -World stocks rallied to their highest level in more than a year on Wednesday, while the U.S. dollar hit a five-month low, as expectations mounted that key central banks such as the Federal Reserve will start to cut interest rates early next year. In line…
By Akash Sriram and Hyunjoo Jin SAN FRANCISCO (Reuters) -Tesla is expected to post another record quarter for electric vehicle (EV) deliveries, likely shy of an ambitious 2 million annual internal target that CEO Elon Musk touted at the beginning of the year. Faced with slowing sales, Tesla leveraged its industry-leading margins and slashed prices…
(Reuters) – The United States has finalized contracts to purchase three million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after the largest sale in history last year, the U.S. Department of Energy said on Tuesday. The department said it bought the oil, for delivery to a site in Big Spring, Texas,…
By Sam Nussey TOKYO (Reuters) -SoftBank Group Corp said it would receive shares in telco T-Mobile US worth some $7.59 billion at no additional cost, driving the Japanese conglomerate’s shares up 5%. Masayoshi Son’s conglomerate said late on Tuesday it had told T-Mobile US to issue 48.75 million shares in common stock to it after…
By Naveen Thukral SINGAPORE (Reuters) -High food prices in recent years have prompted farmers worldwide to plant more cereals and oilseeds, but consumers are set to face tighter supplies well into 2024, amid adverse El Nino weather, export restrictions and higher biofuel mandates. Global wheat, corn and soybean prices – after several years of strong…
By Stephen Culp NEW YORK (Reuters) -U.S. stocks extended their rally on Tuesday, kicking off the final week of 2023 with expectations that the Federal Reserve will begin cutting interest rates as soon as March. All three major U.S. stock indexes rose in light trading a day after the Christmas holiday, with the S&P 500…
By Blake Brittain (Reuters) -Apple on Tuesday appealed a decision to ban imports of its watches based on a complaint from medical monitoring technology company Masimo, after U.S. President Joe Biden’s administration declined to veto a government tribunal. The tech giant also filed an emergency request on Tuesday for the U.S. Court of Appeals for…
By Brendan Pierson (Reuters) – Bayer has won a trial in a lawsuit brought by a California man who said he developed cancer from exposure to its Roundup weedkiller, ending what had been a five-trial losing streak for the company in trials over similar claims. The verdict was handed down on Friday by a jury…
By Gary McWilliams HOUSTON (Reuters) – The oil and gas industry went on a $250 billion buying spree in 2023, taking advantage of companies’ high stock prices to secure lower-cost reserves and prepare for the next upheaval in an industry likely to undergo more consolidation. A surge in oil demand as world economies shook off…
By Ryan Woo BEIJING (Reuters) -Giant Christmas trees adorned with lights, tinsel and gift boxes greet shoppers at glittering malls in big Chinese cities like Shanghai and Chongqing, but in many parts of China, extending season’s greetings is out of the question. In southwest Yunnan province, a property management company issued a notice to shopping…
