Oil inches down as US inflation data, rising OPEC output weigh

By Laila Kearney NEW YORK (Reuters) -Oil prices edged lower on Thursday as U.S. inflation data implied a softening of the world’s biggest economy that could weaken crude demand, with rising OPEC production also weighing on prices. Brent futures for April delivery settled at $83.62 a barrel, down 6 cents. U.S. crude settled at $78.26 […]

Novavax Says Still Faces Strong Headwinds, 2024 Sales Flat to Lower

By Michael Erman (Reuters) -COVID-19 vaccine maker Novavax on Wednesday said it still faces significant financial difficulties and expects revenue this year to be flat or lower as it works to pick up U.S. market share from its much larger rivals, Pfizer and Moderna. The company posted a larger-than-expected fourth-quarter loss as revenue lagged analysts’ […]

Barclays to sell $1.1bn of US credit card debt to Blackstone

LONDON (Reuters) – Barclays has agreed to sell about $1.1 billion of credit card debt in the United States to Blackstone, in a deal the British bank said would free up capacity to expand lending and reduce balance sheet risk. Barclays said the agreement reflected its recently-announced strategy to prioritise growing lending to consumers, and […]

Oil gains over $1 on possible shipping disruptions

By Erwin Seba HOUSTON (Reuters) – Oil prices gained on Monday as European diesel demand, constrained by Russian sanctions and shipping disruptions, pulled prices higher in a market jittery with U.S. refinery output limited by planned overhauls, analysts said. Brent crude futures settled with a gain of 91 cents, or 1.11%, at $82.53 a barrel. […]

Scotiabank to set up Canadian investment dealer owned by Indigenous shareholders

By Nivedita Balu and Arasu Kannagi Basil (Reuters) -Bank of Nova Scotia said on Friday it would set up the first Indigenous-owned investment dealer in Canada, that would encourage the community’s participation in capital markets and create new opportunities. Cedar Leaf Capital has been established in partnership with two Indigenous development corporations and one First […]

Nestle, Danone See Price Hikes Slowing After Years of Sharp Increases

By Richa Naidu and Dominique Vidalon LONDON/PARIS (Reuters) -Two of the world’s top consumer goods companies, Danone and Nestle, said on Thursday they will slow price increases in 2024 after two years of hikes that prompted many shoppers to seek cheaper alternatives for basic goods like yoghurt and coffee. But Danone, which owns brands including […]

Electric utility Exelon adds $3.2 billion to four-year capex plan

(Reuters) -U.S. utility and gas supplier Exelon Corp raised its capital spending plan to $34.5 billion through 2027, a 10% jump from its previous outlook as it invests in additional transmission to address grid concerns, company executives said on Wednesday. The Illinois-based company’s increased transmission spending will include investments to shore up grid reliability concerns […]

NYCB stock rout prompts US bank regulators to conduct health checks

By Nupur Anand, Pete Schroeder and Matt Tracy NEW YORK/WASHINGTON (Reuters) -U.S. banking regulators have been asking regional lenders whether they faced any fallout from the problems at New York Community Bancorp, several sources said, in a sign that worries about the health of the sector persist. Two banking executives, a legal source and an […]

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Oil inches down as US inflation data, rising OPEC output weigh

February 29, 2024

By Laila Kearney NEW YORK (Reuters) -Oil prices edged lower on Thursday as U.S. inflation data implied a softening of the world’s biggest economy that could weaken crude demand, with rising OPEC production also weighing on prices. Brent futures for April delivery settled at $83.62 a barrel, down 6 cents. U.S. crude settled at $78.26 […]
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