NEW YORK (Reuters) – Oil prices steadied on Thursday as OPEC forecast slower demand for its crude next year, with crude futures easing from their highest in more than a month after U.S. producers cut nearly a third of their output in the Gulf of Mexico ahead of what could be one of the first
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(Reuters) – Federal Reserve officials argued the pros and cons of a possible policy tool that allows banks to borrow from the U.S. central bank using Treasuries and other securities as collateral, minutes of the Fed’s June policy meeting released on Wednesday showed. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in
CHICAGO (Reuters) – Severe U.S. weather likely dented earnings for large grain companies including Archer Daniels Midland Co (ADM.N) and Bunge Ltd (BG.N) for a second straight quarter, adding to headwinds from a still-unresolved U.S.-China trade war, analysts and economists said. Water stands next to a field of crops near Putnam County, Illinois, U.S. July
WASHINGTON (Reuters) – The U.S. Federal Reserve over the course of its 105-year history has changed monetary policy in reaction to property crashes, war, financial bubbles and policymakers’ gut instincts about where the economy was heading. FILE PHOTO: Federal Reserve Chairman Jerome Powell holds a news conference following a two-day Federal Open Market Committee meeting
ZURICH (Reuters) – ABB (ABBN.S) is pressing ahead with a review of its underperforming businesses and expects a customer slowdown and China-U.S. trade tensions to mean a turbulent year, its Chairman and interim Chief Executive Peter Voser told Reuters. FILE PHOTO: Chairman Peter Voser of Swiss power technology and automation group ABB addresses the company’s
TOKYO/HONG KONG (Reuters) – Asian stocks fell to their lowest levels in two and a half weeks on Tuesday as hopes dwindled for a hefty interest rate cut by the U.S. Federal Reserve at the end of the month, while technology companies were pulled lower by Apple Inc’s overnight slump. FILE PHOTO: Passerbys walk past
STOCKHOLM (Reuters) – Growing numbers of young people whizzing around Europe’s big cities on electric scooters may represent a nightmare for some pedestrians and motorists, but for Swedish sharing start-up VOI they offer a path to positive cashflow. Electric scooters from Swedish startup VOI and Belin-based Tier sit parked side-by-side in Stockholm, Sweden July 7,
SYDNEY/HONG KONG (Reuters) – Whole teams in Deutsche Bank’s (DBKGn.DE) Asian operations were told their positions were gone on Monday, as the lender began axing 18,000 jobs globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis. FILE PHOTO: A Deutsche Bank logo adorns a wall at
FILE PHOTO: The Deutsche Bank headquarters are seen in Frankfurt, Germany October 29, 2015. REUTERS/Kai Pfaffenbach/File Photo FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul designed to turn around Germany’s struggling flagship lender The bank will also scrap its global equities business and scale back
WASHINGTON (Reuters) – U.S. job growth rebounded strongly in June, with government payrolls surging, but persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Federal Reserve to cut interest rates this month. The Labor Department’s closely watched employment report on Friday suggested May’s sharp slowdown in hiring was
(Reuters) – Cruise, a U.S. self-driving vehicle company majority-owned by General Motors Co, told Reuters on Friday that a U.S. national security panel approved a $2.25 billion investment in the firm by Japan’s SoftBank Corp. FILE PHOTO: People walk near the logo of SoftBank Corp in Tokyo, Dec. 18, 2014. REUTERS/Toru Hanai/File Photo SoftBank has
(Reuters) – Cruise, a U.S. self-driving vehicle company majority-owned by General Motors Co, told Reuters on Friday that a U.S. national security panel approved a $2.25 billion investment in the firm by Japan’s SoftBank Corp. FILE PHOTO: People walk near the logo of SoftBank Corp in Tokyo, Dec. 18, 2014. REUTERS/Toru Hanai/File Photo SoftBank has
SYDNEY (Reuters) – Crude oil prices fell on Friday as concerns over the outlook for global economic growth outweighed elevated tensions in the Middle East that could disrupt supply routes and send prices higher. FILE PHOTO – A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. Picture taken April
BRUSSELS (Reuters) – European Union states opened the way to competing technologies for internet connected cars on Thursday, rejecting a European Commission push for a wifi-based standard backed by Volkswagen (VOWG_p.DE). FILE PHOTO: Signs of Qualcomm and 5G are pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. REUTERS/Aly Song/File Photo The
(Reuters) – A U.S. judge on Wednesday ruled against Qualcomm Inc’s (QCOM.O) effort to block the implementation of a sweeping antitrust ruling against it as the mobile chip supplier pursues an appeal that could take more than a year to wind through the courts. FILE PHOTO: A sign on the Qualcomm campus is seen in
(Reuters) – Shares of Tesla Inc jumped 8% on Wednesday after Chief Executive Officer Elon Musk made good on his promise of delivering record number of electric cars in the second quarter, quelling fears about demand for its sedans and SUVs. FILE PHOTO: A Tesla logo on a Model S is photographed inside of a