Iraq persuaded Lukoil to halt sale to Sinopec – sources Baghdad concerned China becoming too dominant – sources Western firms not happy with terms of Iraqi deals LONDON/BASRA, May 17 (Reuters) – Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to…
Tag: AMERS
Stock market rebound fizzles, UK inflation hits 40-year high
LONDON, May 18 (Reuters) – A rebound in stocks ran out of steam on Wednesday as concerns about the economic growth outlook and rising inflation knocked sentiment, while a UK inflation reading of 9% underlined just how much higher interest rates might be headed. Asian stocks managed to eek out their fourth straight session of…
Wall Street ends sharply higher, fueled by Apple
Walmart slides after cutting earnings forecast April retail sales rise in line with estimates S&P 500 +2.02%, Nasdaq +2.76%, Dow +1.34% May 17 (Reuters) – Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth. Ten of…
Allianz to pay $6 billion in US fraud case, fund manager charged
NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its US asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the US Department of Justice and US Securities and…
Shares recover even as growth, inflation fears linger
Blank prices are displayed in the stock quotation boards at the Tokyo Stock Exchange (TSE) after the TSE temporarily suspended all trading due to system problems in Tokyo, Japan October 1, 2020. REUTERS/Issei Kato/Files Register now for FREE unlimited access to Reuters.com Register LONDON, May 17 (Reuters) – Global shares recovered on Tuesday on optimism…
Musk seeks proof on share of spam bot on Twitter for deal to progress
May 17 (Reuters) – Elon Musk said on Tuesday his $44 billion offer would not move forward until Twitter Inc (TWTR.N) shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price for the company. “My offer was based on Twitter’s SEC filings…
Walmart stores expected to post high shopper traffic amid deepening inflation pain
NEW YORK, NY, May 16 (Reuters) – Walmart Inc (WMT.N) is expected to show a steady rise in gross margins and revenue when it reports first-quarter results on Tuesday as price conscious shoppers, feeling the strain of persistent inflation , increase visits to the low-cost retailer. Walmart has averaged a 4.9% increase in monthly visits…
Yields slip, stocks struggle as economic fears grow
NEW YORK, May 16 (Reuters) – US stocks closed mixed on Monday as downbeat Chinese and New York state data kindled recession fears, but the 10-year Treasury note’s yield staying firmly under 3% spurred hopes the Federal Reserve will prudently hike interest rate hikes. Chinese retail and factory activity fell sharply in April as COVID-19…
Analysis: White House weighs inflation vs. farmers in new biofuel mandates
May 16 (Reuters) – The White House is expected to announce in coming weeks the amount of biofuels like corn-based ethanol that US refiners must blend into their fuel this year, a decision that will force it to weigh taming consumer inflation against supporting the nation’s farmers. How the administration balances the competing priorities could…