CERNOBBIO, Italy (Reuters) – Oil majors are suffering after eight OPEC+ countries unexpectedly agreed to increase oil output in May, while tariffs imposed by U.S. administration had a muted effect on the sector, Eni’s top executive Francesco Gattei said on Friday. He added that energy groups could react to the possibility of tariffs denting global…
By Kalea Hall DETROIT (Reuters) – London-based INEOS Automotive is increasing prices on its premium vehicles as a result of the new 25% tariff on auto imports, the company said Friday. While the smaller automaker said it’s “doing all it can” to prevent prices on its France-built vehicles from increasing, it will be raising prices…
(Reuters) – U.S. tech heavyweights, banks and oil majors extended losses on Friday after Beijing retaliated with additional duties of 34% on U.S. goods, amplifying investor concerns over an escalating global trade war that has stoked fears of a recession. Beijing’s tariffs are set to go into effect April 10. The country also announced controls…
By Juveria Tabassum (Reuters) – President Donald Trump’s move to impose sweeping tariffs on U.S. imports could force major retailers to raise prices on products ranging from apparel and footwear to electronics as supply hubs Vietnam, Cambodia and Bangladesh reel from fresh levies. Here are some of the Asia suppliers for retailers. WALMART Walmart remains…
By Ange Kasongo (Reuters) -The United States is in talks to invest billions of dollars in mineral-rich Congo and wants to help end a conflict raging in the country’s east, President Donald Trump’s senior adviser for Africa said during a visit on Thursday. Democratic Republic of Congo, which has vast reserves of cobalt, lithium and…
(Reuters) – Capital One Financial Corp got a greenlight from the Justice Department for its proposed acquisition of Discover Financial Services after the DOJ told other regulators looking into the merger that it doesn’t see sufficient competition concerns to block the deal, the New York Times reported on Thursday. The Office of the Comptroller of…
By Deena Beasley, Mariam Sunny and Siddhi Mahatole (Reuters) -The U.S. Food and Drug Administration has approved expanded use of Amgen’s drug, Uplizna, to help reduce the risk of flares in patients with a rare immune system-related condition, the regulator said on Thursday. The drug, also known as inebilizumab, has now become the first FDA-approved…
By Nell Mackenzie and Carolina Mandl LONDON (Reuters) -Turbulent March markets stalled positive returns for some of the biggest global hedge funds while systematic and some smaller, more nimble funds ended the first quarter with positive returns, according to sources familiar with the matter. As investors adjusted to seismic shifts in German policies and growing…
By David Lawder WASHINGTON (Reuters) -The Trump administration on Wednesday said it was slapping a 25% tariff on all beer imports, adding the beverage and empty aluminum cans to a list of derivative products subject to its tariffs on aluminum. The Commerce Department said in a Federal Register notice that duties on beer and empty…
By Akash Sriram and Abhirup Roy (Reuters) -Tesla’s quarterly sales plunged 13% to the weakest in nearly three years, hurt by a backlash against CEO Elon Musk’s politics, rising global competition, and people waiting for a refresh to its highest-selling electric vehicle Model Y. The stumbling sales indicate that the one-time leading brand is reeling…
