Category: Business
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Oil settles lower on massive US fuel inventory builds
By Laura Sanicola (Reuters) -Oil settled lower on Thursday in a choppy see-saw session, as massive weekly gasoline and distillate stock builds overshadowed a larger-than-expected crude stock draw. Brent crude settled down 66 cents, or 0.8%, to $77.59. During the session it both rose and fell over $1. U.S. West Texas Intermediate crude futures settled…
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Wilson tennis racket maker Amer Sports files for US IPO
By Manya Saini (Reuters) -Wilson tennis racket maker Amer Sports on Thursday revealed a 30% revenue surge for the first nine months of 2023 in its filing to go public in the U.S., joining other high-profile firms looking to take advantage of recovering investor appetite. U.S. initial public offerings, which went through an arid period…
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ESPN, NCAA agree to new eight-year, $920 million deal for media rights
By Samrhitha A and Jaspreet Singh (Reuters) -ESPN and the National Collegiate Athletic Association (NCAA) have agreed to a $920 million, eight-year extension to their media rights deal that covers 40 championships including international rights to the “March Madness” college basketball tournament. The deal has an annual average value of $115 million, which more than…
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US agency suing Tesla for race bias says no need to pause lawsuit
By Daniel Wiessner (Reuters) – A U.S. anti-discrimination agency has asked a federal judge to reject Tesla Inc’s bid to pause a lawsuit alleging widespread racial bias at the electric carmaker’s flagship Fremont, California, assembly plant. The Equal Employment Opportunity Commission (EEOC) in a filing in federal court in San Francisco late on Wednesday said…
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US chip stocks tumble after strongest year since 2009
By Noel Randewich (Reuters) – U.S. chip stocks added to a string of losses on Wednesday, with Wall Street’s main semiconductor benchmark tumbling from record highs following its strongest year since 2009, when the sector bounced back after the financial crisis. Drops of over 2% in Advanced Micro Devices, Qualcomm and Broadcom weighed most on…
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Wall St notches second lower finish as 2024 starts with profit-taking
By David French (Reuters) – U.S. stock indexes ended the second session of the year down again in extended profit-taking on Wednesday after a strong finish to 2023, with minutes from the Federal Reserve’s December meeting failing to shake off the funk hanging over markets. It was the first time the benchmark S&P 500 index…
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Google, Meta and Tiktok’s debts removed from Russian database – bailiffs
LONDON (Reuters) – Fines imposed by Russian courts on Alphabet’s Google and YouTube, Meta, TikTok and Telegram appear to have been settled as the companies are no longer registered as debtors in the state bailiffs’ database. But the database, accessed by Reuters on Wednesday, still includes X (formerly Twitter) and Twitch, with fines totalling 51…
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US was top LNG exporter in 2023 as hit record levels
By Curtis Williams HOUSTON (Reuters) – U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023. The U.S. was the stand out in global LNG supply…
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Tesla delivers record Q4 cars, but China’s BYD steals top EV spot
By Akash Sriram (Reuters) -Tesla delivered a record number of electric vehicles in the fourth quarter, beating market estimates and meeting its 2023 target, but lost its spot as the top EV maker by sales to China’s BYD. Tesla delivered 484,507 EVs in the October-to-December period, falling short of the 526,409 vehicles that Warren Buffett-backed…
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Argentina, IMF close to agreement on delayed programme review in January -sources
By Jorgelina do Rosario LONDON (Reuters) -Argentina and the International Monetary Fund are close to an agreement on a review of its $44 billion loan programme, three sources told Reuters, a key step that would put the country on track to unlock the next tranche of funding. Government officials and IMF staff representatives are in…