Foreign investors pour $925 million into Egypt since Wednesday

FILE PHOTO: A man counts Egyptian pounds outside a bank in Cairo

CAIRO (Reuters) – Foreign investors transferred more than $925 million dollars into the Egyptian foreign exchange market in the three days since its currency sharply depreciated last week, Egypt’s central bank said in a statement on Monday. The Egyptian pound weakened to about 32 to the dollar from 27.60 at the open on Wednesday before… Continue reading Foreign investors pour $925 million into Egypt since Wednesday

Arctic blast, blizzards disrupt U.S. travel ahead of holidays

A driver makes their way through a flooded street at high tide during a winter storm in Gloucester

By Rich McKay and Gabriella Borter (Reuters) -Arctic cold extended its grip over much of the United States on Friday, combining with snow, ice and howling winds from a deadly winter storm roaring out of the Midwest to disrupt energy supplies and thwart travel for millions of Americans ahead of the holiday weekend. The extreme… Continue reading Arctic blast, blizzards disrupt U.S. travel ahead of holidays

BMW tests hydrogen burner at German plant, expands battery assembly lines

BMW expected to outline electrification plans in United States

LEIPZIG, Germany (Reuters) -BMW is testing a burner able to operate on both hydrogen and gas in its paint shop in Leipzig, the carmaker said on Thursday, as it also announced an 800-million-euro ($782 million) investment in new battery assembly lines at the plant. The burner, developed together with combustion technology firm Saacke to reduce… Continue reading BMW tests hydrogen burner at German plant, expands battery assembly lines

Freeport-McMoRan shares rally after profit beats expectations

FILE PHOTO: The logo of copper miner Freeport-McMoRan Inc is displayed on their offices in Phoenix

(Reuters) – Freeport-McMoRan Inc reported a sharp drop in third-quarter profit on Thursday due to falling copper prices, although the mining company’s shares rose as results beat Wall Street’s expectations and executives gave a bullish demand outlook for the red metal used widely across the economy. Shares of the Phoenix-based company jumped more than 6%… Continue reading Freeport-McMoRan shares rally after profit beats expectations

Amazon hands out shipping software to merchants, including on rival sites

FILE PHOTO: A delivery cart loaded with a number of packages from Amazon stands on a sidewalk in New York City

(Reuters) – Amazon.com Inc on Thursday said it would give merchants free software for managing shoppers’ orders on and off its platform, as the retailer extends its e-commerce reach. The company is ending monthly fees of Veeqo, a shipping software firm it recently bought, for sellers including when they fulfill orders via rival platforms like… Continue reading Amazon hands out shipping software to merchants, including on rival sites

U.S. to allow baby formula imports amid nationwide shortage

FILE PHOTO: Empty shelves show a shortage of baby formula in San Antonio

By Ahmed Aboulenein and Eric Beech WASHINGTON (Reuters) -The United States will allow baby formula imports from foreign makers that do not usually sell their products here, the Food and Drug Administration said on Monday, as it tries to ease a nationwide shortage that has left parents scrambling to feed their babies. The temporary move… Continue reading U.S. to allow baby formula imports amid nationwide shortage

Gold ticks up as dip in U.S. yields loosens dollar’s grip

Sales persons wait for customers at a gold jewelry showroom in Chandigarh

By Ashitha Shivaprasad (Reuters) – Gold rose slightly on Monday as a retreat in U.S. Treasury yields offset headwinds from a relatively firm dollar, which, along with looming interest rate hikes, earlier pushed bullion to a more than three-and-a-half-month low. Spot gold rose 0.3% to $1,817.12 per ounce by 1:52 p.m. ET (1752 GMT), after… Continue reading Gold ticks up as dip in U.S. yields loosens dollar’s grip

Wall Street rallies, weekly losing streak continues

FILE PHOTO: A Wall Street sign outside the New York Stock Exchange

By Stephen Culp NEW YORK (Reuters) – Wall Street surged on Friday to end higher, closing the book on a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into recession. Gains were led by a rebound in… Continue reading Wall Street rallies, weekly losing streak continues

Oil jumps 4% as U.S. gasoline prices hit record high

Storage tanks at Marathon Petroleum's Los Angeles Refinery in Carson, California, U.S.

By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil. Brent futures rose $4.10, or 3.8%, to settle at $111.55 a barrel. U.S.… Continue reading Oil jumps 4% as U.S. gasoline prices hit record high

Accused NY subway shooter pleads not guilty to terrorism, weapons charges

Accused NY subway shooter pleads not guilty to terrorism, weapons charges

By Luc Cohen and Brendan Pierson NEW YORK (Reuters) -A man charged with last month’s mass shooting in a New York subway, one of the most violent attacks in the history of the city’s transit system, pleaded not guilty to terrorism and weapons charges in Brooklyn federal court on Friday. Frank James, 62, is accused… Continue reading Accused NY subway shooter pleads not guilty to terrorism, weapons charges