By Arathy Somasekhar Sept 18 (Reuters) – Oil prices fell about 1%, extending losses for a third session, but stayed above $100 on Friday, as hopes of alternate ways for barrels from the Middle East to reach markets outweighed concerns about strikes between Saudi Arabia and Yemen’s Houthis. Brent cru
By Gregor Stuart Hunter SINGAPORE, Sept 18 (Reuters) – The yen got off to a weak start against the dollar and the euro at the start of Asian trading on Friday, with currency markets in a subdued mood ahead of an expected rate hike from the Bank of Japan later in the trading session. The yen fell 0.1
SYDNEY, Sept 18 (Reuters) – Hundreds of Qantas ground workers who handle freight and its QantasLink regional flights will strike over pay and working conditions next week, the Transport Workers Union said on Friday. Workers will strike for a 24-hour period on Wednesday in Victoria state and Thursday
Sept 17 (Reuters) – Orion180 Insurance on Thursday priced its US initial public offering below its targeted range and raised $240 million, joining a growing pipeline of insurers testing investor appetite as the fall listing season gathers momentum. The Melbourne, Florida-based company sold 20 millio
By Leika Kihara TOKYO, Sept 18 (Reuters) – The Bank of Japan is set to raise interest rates to a 31-year high on Friday and pledge to deliver more to counter inflation risks, which may heighten if the start of a U.S. rate-hike cycle weakens the yen against the dollar. The widely expected move would
By David Shepardson WASHINGTON, Sept 17 (Reuters) – The Federal Communications Commission approved a Paramount Skydance request to allow foreign investors to back its $110 billion acquisition of Warner Bros Discovery but said they could not hold voting stock. A group of Democratic senators had raise
Sept 17 (Reuters) – Walt Disney on Thursday named insider Adam Smith chairman of its streaming business, as the company seeks to sharpen its focus across its direct-to-consumer platforms such as Disney+ and Hulu. • The company also named Joe Earley president of Disney Entertainment Television Franch
By Lisa Baertlein LOS ANGELES, Sept 17 (Reuters) – The off-contract ocean container shipping rate from China to the U.S. East Coast has returned to levels seen after COVID-19 upended global trade, and could set new record highs as the U.S. and Israeli war on Iran drives fuel costs higher. The spot r
India Pushes for Bigger BRICS Role, Avoids Breaking US Ties The outcome allowed India to present BRICS not as a vehicle for replacing one hegemon with another, but as a forum in which states that disagree on security can still coordinate around economic and institutional interests. By Giorgia Valent
WASHINGTON (AP) — About six weeks ago, Federal Reserve Chairman Kevin Warsh announced that a divided central bank was keeping its key interest rate unchanged. But on Wednesday, the Fed’s rate-setting committee unanimously agreed to a rate hike, and nearly all policymakers signaled that a second incr
By Amanda Stephenson, Curtis Williams and Marwa Rashad CALGARY/HOUSTON/LONDON, Sept 17 (Reuters) – Partners in the Shell-led LNG Canada export project could reach a final investment decision on its Phase 2 expansion as early as next month, three people familiar with the matter told Reuters. The expa
CHICAGO, Sept 17 (Reuters) – GE Aerospace does not see broad vertical integration as the answer to aerospace supply-chain constraints, Chief Financial Officer Rahul Ghai said on Thursday, after the engine maker agreed to buy castings supplier Consolidated Precision Products for $11.75 billion. The c
Sept 17 (Reuters) – JP Morgan said on Thursday that it does not have a clear baseline view for oil markets for the first time since the start of the US-Israeli war on Iran. “We simply don’t know how to model the endgame,” analysts at the bank noted. The note flagged that at the beginning of the conf
WASHINGTON, Sept 17 (Reuters) – Multilevel marketing company Amway Corp and two of its affiliates will pay the Federal Trade Commission and Washington State $225 million to resolve allegations it recruited new members with deceptive claims about how much money they could make, the agency said on Thu
By Jonathan Stempel NEW YORK, Sept 17 (Reuters) – Credit Acceptance Corp agreed to a $710 million settlement with 40 U.S. states and Washington, D.C. to resolve charges it drove thousands of borrowers with low incomes and low credit scores into predatory auto loans it knew they could not afford. The
NEW YORK (AP) — The ambulance dispatch station where Heydi Fernandez waited for calls as an emergency medical technician didn’t have a private place to pump breast milk when she returned to work three months after giving birth to her son. So she expressed her milk sitting at a dining table when none
By Mike Stone WASHINGTON, Sept 17 (Reuters) – Lockheed Martin said on Thursday it received its first shipment of critical components from General Motors for Patriot interceptors, less than a month after the two companies inked a manufacturing agreement, as the Pentagon pushes for faster weapons prod
Caitlin Clark doesn’t have much longer to wait for her first signature shoe to come out. They will be available starting Oct. 1 in the U.S. and a week earlier in China. “I’m just super excited,” she told The Associated Press in Germany last week. “I look down at my feet and I’m, man, I’m wearing my
CHICAGO, Sept 17 (Reuters) – GE Aerospace Chief Financial Officer Rahul Ghai said on Thursday he was confident a durability issue with the GE9X engine’s mid-seal would not hold up the planned entry into service next year of the Boeing 777X aircraft. The US company disclosed in February that it was e
By Kalea Hall Sept 17 (Reuters) – General Motors is sticking with a diesel engine to maximize fuel efficiency as it rolls out a next-generation pickup truck, diverging from rivals’ hybrid offerings. GM plans in the fourth quarter to launch the first major redesign since 2019 of its most important ve
By Gertrude Chavez-Dreyfuss NEW YORK, Sept 17 (Reuters) – Options markets are anticipating few fireworks in 10-year Treasury trading even as the benchmark yield has risen steadily this year to 5%, underscoring the role of strong U.S. economic growth in driving rates higher and tamping down volatilit
By Jaspreet Singh Sept 17 (Reuters) – Two US senators have called on the Federal Trade Commission to investigate Amazon and Walmart, claiming that their AI shopping chatbots may suppress “made in the USA” products and fail to flag fraudulently labeled goods. In a letter sent to the FTC, senators Tam
WASHINGTON (AP) — The number of people applying for unemployment benefits dropped sharply last week, another sign that layoffs remain rare and most Americans enjoy job security. The Labor Department reported Thursday that jobless claims slid to 196,000, the fewest since mid-July and down from 206,00
WASHINGTON, Sept 17 (Reuters) – Contracts to purchase previously owned U.S. homes unexpectedly rose in August, but the gain is likely to be temporary as elevated mortgage rates continue to sideline some prospective buyers and weigh on housing demand. The pending home sales index increased 0.3% to 71
Home shoppers holding out for relief from rising mortgage rates may be in for a long wait. The weekly average rate on a 30-year fixed-rate home loan has been rising for months and this week climbed to just below 7% — its highest level in over 19 months. The benchmark 30-year fixed rate mortgage rose
By Hannah Lang Sept 17 (Reuters) – The U.S. Securities and Exchange Commission on Thursday unveiled its long-awaited exemption that will allow companies to offer trading in blockchain-based or “tokenized” stocks and other securities, in a major move that could integrate digital assets more deeply in
(Adds missing editor name in story signoff) By Stefano Rebaudo, Harry Robertson and Shashwat Chauhan LONDON, Sept 17 (Reuters) – The surge in energy and global borrowing costs as a result of the war in the Middle East is pushing economies and markets further towards a potentially damaging period of
By Stefano Rebaudo and Sophie Kiderlin Sept 17 (Reuters) – Major central banks are on a tightening path, with the Federal Reserve recalibrating its policy to a more restrictive stance on Wednesday, even as traders continue to price in a more aggressive policy response than projected in the U.S. cent
TURIN, Sept 17 (Reuters) – As Chinese automakers search Europe for production sites ahead of expected EU local content rules, BYD’s European adviser says he’s always running into rivals’ executives in airport lounges on the same quest. They are focused on scouting existing car assembly plants that w
NEW YORK, Sept 17 (Reuters) – Apollo Global Management is exploring strategic options for Energos Infrastructure, in a deal that could value the floating liquefied natural gas infrastructure provider at more than $3 billion, people familiar with the matter said. The investment giant has been holding
