DIRS.INFO The most relevant business & tech news

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. On its first day as the front-month, Brent futures for December delivery settled $1.49, or 1.6%, lower at $90.71 a barrel, or down about 5% from where the November contract expired on Friday. Analysts said some traders took profits after crude prices rose nearly 30% to 10-month highs in the third quarter. Higher interest rates along with a stronger dollar, which makes oil more expensive for holders of other currencies, could dent oil demand. A Reuters survey showed OPEC oil output rose for a second straight month in September despite cuts by Saudi Arabia.

Persons: Agustin Marcarian, Brent, Gelber, Edward Moya, Scott DiSavino, Paul Carsten, Yuka Obayashi, Emily Chow, Marguerita Choy, David Gregorio Our Organizations: REUTERS, U.S ., . West Texas, New York Mercantile, Intercontinental Exchanges, U.S . Commodity Futures Trading Commission, Associates, U.S, . Federal Reserve, World Bank, ING, Organization of, Petroleum, Reuters, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, U.S, Europe, Germany, Britain, China, Iraq, Saudi Arabia, OPEC, Russia, New York, London, Tokyo

A sign is pictured in front of the Vitol Group trading commodities building in Geneva October 4, 2011. The two Pemex documents are also not public. As part of the settlement, Vitol also dropped a lawsuit against PMI Comercio Internacional, Pemex's international trading arm, for $1.21 million for alleged damages to a refinery in Cressier, Switzerland. Meanwhile, legal proceedings tied to the graft scandal continue in Mexico but also the U.S., where a former employee is on trial, and Ecuador. The graft scandal Vitol acknowledged dates back to Lopez Obrador's predecessors.

Persons: Denis Balibouse, Pemex, Andres Manuel Lopez Obrador, Vitol, Lopez, Adriana Barrera, Stefanie Eschenbacher, Ana Isabel Martinez, Stephen Eisenhammer, Marguerita Choy Organizations: Vitol, REUTERS, MEXICO CITY, Reuters, U.S . Department of Justice, PMI Comercio Internacional, Mexican, Thomson Locations: Geneva, MEXICO, Swiss, Brazil, Ecuador, Vitol, Mexican, U.S, Cressier, Switzerland, Veracruz, Mexico

☆ US Central Command captures Islamic State official in Syria raid - statement
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: 1 min

Sept 30 (Reuters) - U.S. Central Command forces conducted a helicopter raid in northern Syria on Sept. 28 capturing Mamduh Ibrahim al-Haji Shaykh, an Islamic State facilitator, Central Command said on Saturday. Last week, the Central Command forces said it had captured Abu Halil al-Fad'ani, an ISIS Syria Operational and Facilitation official, who was assessed to have relationships throughout the ISIS network in the region, during a raid on Sept. 25. No civilians were injured or killed during the both operations, both Central Command statements said. Reporting by Gursimran Kaur in Bengaluru, Editing by William Maclean and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Mamduh Ibrahim al, Haji Shaykh, Abu Halil al, Gursimran Kaur, William Maclean, Marguerita Choy Organizations: . Central Command, Central Command, ISIS, Command, Thomson Locations: Syria, State, Bengaluru

☆ Walmart changes pay and titles for corporate staff, Wall Street Journal reports
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsCompanies Walmart Inc FollowSept 30 (Reuters) - Walmart (WMT.N) corporate staff are getting new titles and pay packages in the coming weeks to manage labor costs and simplify the structure of the company's workforce, the Wall Street Journal reported on Saturday. Starting in November, many corporate workers at Walmart and Sam's Club, its warehouse chain, will be reclassified into fewer groups of possible titles and pay, the report added. Around 4%, or 2,000, will receive an eventual reduction in stock-option awards as part of the change, the report said. The change is "good compensation hygiene," and ensures Walmart is "appropriately rewarding similar levels of work," Lupo said. Earlier this month, Walmart changed the hourly starting wage structure for entry-level store workers.

Persons: Kamil Krzaczynski, Kim Lupo, Lupo, Gursimran Kaur, Andrea Ricci, Marguerita Choy Organizations: REUTERS, Walmart, Wall Street, Sam's, Base, Workers, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

Manitoba had a Metis premier in the late 1800s and the Nunavut territory currently has an Inuk premier. Kinew, 41 and a former television journalist, would be the first Canadian premier who identifies as First Nations. The Conservatives, currently led by Manitoba's first female premier, Heather Stefanson, 53, have ruled the western farming, mining and manufacturing province since 2016. Manitoba's legislature has 57 seats and a party needs to win 29 to win a majority and govern without another party's support. Reporting by Rod Nickel in Winnipeg, Manitoba Editing by Denny Thomas and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Kelly Saunders, Manitoba's, Heather Stefanson, Allen Mills, Rod Nickel, Denny Thomas, Marguerita Choy Organizations: Nations, Kinew's New Democratic Party, Progressive Conservatives, First, Brandon University, Manitoba, Metis, Canadian, First Nations, NDP, Probe Research, Conservatives, University of Winnipeg, Liberals, Thomson Locations: WINNIPEG, Manitoba, First Nations, Nunavut, Winnipeg

A customer leaves after speaking with FDIC representatives inside of the Silicon Valley Bank headquarters in Santa Clara, California, U.S., March 13, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsCompanies Silicon Valley Bank FollowWASHINGTON, Sept 28 (Reuters) - The leadership of Silicon Valley Bank and its government supervisors failed to quickly recognize risks looming in the firm before its March failure, according to a report from the U.S. Federal Reserve's inspector general. Specifically, the IG said Fed examiners struggled to transition from monitoring the bank as a smaller regional firm to stricter oversight as it rapidly grew in size, applying insufficient resources and expertise to monitoring its activities. Addressing supervisory shortcomings is a top priority for Fed Vice Chair for Supervision Michael Barr and other financial regulators in the coming months. In response to Thursday's IG report, the Fed said it generally agreed with the findings and was already working to implement several of its recommendations.

Persons: Brittany Hosea, ineffectively, Michael Barr, Barr, Pete Schroeder, Mark Porter, Marguerita Choy Organizations: Bank, REUTERS, WASHINGTON, Silicon Valley Bank, U.S, U.S . Federal, IG, Thomson Locations: Santa Clara , California, U.S, U.S .

☆ US Treasury: homes must be 'zero energy ready' to get full tax credit
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. The "45L" tax credit for energy efficient homes acquired from 2023 through 2032 ranges from $500 to $5,000 per dwelling, with the homes meeting lesser Energy Star efficient appliance standards qualifying for the low end, and those meeting Department of Energy Zero Energy Ready Home requirements qualifying for the maximum. To meet the Zero Energy Ready Home requirements, the dwellings must meet certain requirements for insulation, duct work, appliances and other features that make it "so energy efficient that a renewable energy system could offset most or all the home's annual energy use," according to the Department of Energy. The homes must be certified by third parties to verify that they meet the requirements, the Treasury said. For homes acquired before 2023, the credit amount is $1,000 or $2,000 depending on the standards met.

Persons: Kevin Lamarque, David Lawder, Marguerita Choy Organizations: Department of, U.S . Treasury, REUTERS, Rights, U.S, Treasury, Internal Revenue Services, Energy, of Energy, Zero, Department of Energy, Thomson Locations: Washington , U.S

The White House is expected to argue on Friday that holding oil lease sales is the price to pay if it wants to achieve its ambitious wind energy goals. Biden sees offshore wind power as a key tool in his administration's effort to decarbonize the economy. "The number of oil and gas lease sales will be the lowest in history and will enable the rapid expansion of the offshore wind industry," the source said. The Interior Department is required by law to create a national oil and gas leasing schedule every five years. The Biden administration unveiled a proposed plan in July last year that had contemplated between zero to 11 lease sales.

Persons: Jessica Resnick, Ault, Biden, Trump, Joe Biden's, Deb Haaland, Jarrett Renshaw, Nichola, Marguerita Choy, David Gregorio, Deepa Babington Organizations: REUTERS, Bureau of Ocean Energy Management, Reuters, Biden, Interior Department, Interior, Thomson Locations: Gulf of Mexico, Louisiana, Alaska, California, U.S

☆ Union urges US regulators to deny GM's self-driving Cruise a safety exemption
▼ + stars: | 2023-09-27 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

[1/2] A self-driving GM Bolt EV is seen during a media event where Cruise, GM's autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. REUTERS/Elijah Nouvelage/File Photo Acquire Licensing RightsCompanies General Motors Co FollowWASHINGTON, Sept 27 (Reuters) - The International Brotherhood of Teamsters union on Wednesday asked U.S. auto safety regulators to deny a petition by General Motors (GM.N) to exempt its autonomous vehicle unit Cruise Origin from vehicle safety standards. The Cruise petition, filed in February 2022, seeks government approval to deploy vehicles annually without steering wheels, mirrors, turn signals or windshield wipers. Current on-road self-driving Cruise vehicles have human controls. NHTSA said Cruise vehicles "may engage in inappropriately hard braking or become immobilized."

Persons: Elijah Nouvelage, Ann Carlson, Cruise, Sean O'Brien, Carlson, David Shepardson, Niket, Shounak Dasgupta, Marguerita Choy Organizations: GM Bolt, REUTERS, General Motors, Brotherhood of Teamsters, Wednesday, U.S, Traffic Safety Administration, NHTSA, California Department of Motor Vehicles, Cruise, Reuters, GM, Congress, Thomson Locations: San Francisco , California, U.S, WASHINGTON, San Francisco, Washington, Bengaluru

☆ Chile's Codelco to meet obligations as financials deteriorate -JPMorgan
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

The logo of Codelco, the world's largest copper producer, is seen at their headquarters in downtown Santiago, Chile March 29, 2018. REUTERS/Ivan Alvarado/File Photo Acquire Licensing RightsSANTIAGO, Sept 26 (Reuters) - Chile's Codelco, the world's largest copper producer, will meet its financial obligations despite headwinds from a series of operational problems and from high levels of debt and investments, JPMorgan said on Tuesday. Codelco's copper production fell in 2022 to its lowest level in 25 years, exacerbated in part by delays to key projects for extending the lives of its mines. The company cut its production estimate for this year to between 1.31 billion and 1.35 billion metric tons of the red metal. Earlier this month, Codelco's Chairman Maximo Pacheco told lawmakers that the company was "financially solid" and described CESCO's forecast as "nonsense."

Persons: Ivan Alvarado, Codelco, Ian Snyder, Maximo Pacheco, Natalia Ramos, Marguerita Choy Organizations: REUTERS, Rights, JPMorgan, Chile's, for Copper, Mining Studies, Thomson Locations: Santiago, Chile

☆ US urges continued humanitarian aid for Nagorno-Karabakh
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

A satellite image shows a long traffic jam of vehicles along the Lachin corridor as ethnic Armenians flee from the Nagorno-Karabakh region, September 26, 2023. Acquire Licensing RightsWASHINGTON, Sept 26 (Reuters) - The United States urged continued humanitarian access to Nagorno-Karabakh on Tuesday as officials announced additional humanitarian assistance to address health care and other emergency needs. "We urge continued humanitarian access to Nagorno-Karabakh for all those in need." On a visit to Armenia, Samantha Power, head of the U.S. Agency for International Development (USAID), said on Tuesday the United States would provide $11.5 million in humanitarian assistance. Reporting by Jasper Ward and Doina Chiacu; Editing by Leslie Adler and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Adrienne Watson, Samantha Power, Jasper Ward, Doina, Leslie Adler, Marguerita Choy Organizations: Maxar Technologies, REUTERS, Acquire, Rights, United, National Security, U.S . Agency for International Development, USAID, Thomson Locations: Nagorno, Karabakh, United States, Armenia, States, Azerbaijan, Soviet Union

☆ US Urges Continued Humanitarian Aid for Nagorno-Karabakh
▼ + stars: | 2023-09-26 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - The United States urged continued humanitarian access to Nagorno-Karabakh on Tuesday as officials announced additional humanitarian assistance to address health care and other emergency needs. The White House statement came as the death toll from an explosion and fire at a fuel depot in the breakaway enclave rose to 68, with a further 105 people missing and nearly 300 injured. "We urge continued humanitarian access to Nagorno-Karabakh for all those in need." On a visit to Armenia, Samantha Power, head of the U.S. Agency for International Development (USAID), said on Tuesday the United States would provide $11.5 million in humanitarian assistance. (Reporting by Jasper Ward and Doina Chiacu; Editing by Leslie Adler and Marguerita Choy)

Persons: Adrienne Watson, Samantha Power, Jasper Ward, Doina, Leslie Adler, Marguerita Choy Organizations: WASHINGTON, United, National Security, U.S . Agency for International Development, USAID Locations: United States, Karabakh, Nagorno, Armenia, States, Azerbaijan, Soviet Union

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 244.46 points, or 1.2%, at 19,556.15, its lowest closing level since June 23. "Gold is back in the danger zone as Treasury yields rise alongside a stronger (U.S.) dollar," Edward Moya, a senior market analyst at OANDA, said in a note. Energy was a bright spot, rising 0.8%, as the price of oil settled 0.8% higher at $90.39 a barrel. Shares of Westshore Terminals Investment Corp (WTE.TO) ended 10% lower as RBC cut its price target on the stock.

Persons: Chris Helgren, Peter Anderson, Edward Moya, Industrials, Fergal Smith, Khushi Singh, Tasim Zahid, Marguerita Choy Organizations: Toronto Stock Exchange, REUTERS, Energy, Toronto Stock, Andersen Capital Management, Investment Corp, RBC, Thomson Locations: Toronto , Ontario, Canada, Toronto, Bengaluru

In those cases, the SEC asked companies to review staff messages and report to the agency how many discussed work. SEC staff reviewed only a sample of messages themselves, according to three sources with knowledge of the previous investigations. As with broker-dealers, the SEC initially sought details on investment advisers' record-keeping policies. The SEC later demanded that the investment advisers hand over the messages, the sources said. The agency is ignoring important differences in investment advisers' recordkeeping requirements, said Jennifer Han, the MFA's executive vice president and chief counsel.

Persons: Carlo Allegri, Wall, Carlyle, Gary Gensler, Jaclyn Grodin, Storrs, JPMorgan Chase, Wells, Goldman Sachs, Morgan Stanley, Jennifer Han, Chris Prentice, Michelle Price, Marguerita Choy Organizations: New York Stock, REUTERS, Securities and Exchange Commission, SEC, Reuters, Carlyle Group, Apollo Global Management, KKR, Co, TPG, Blackstone, Citadel, Apollo, Goulston, JPMorgan, Bank of America, Association, Bloomberg, Carolina, Thomson Locations: Manhattan, New York City , New York, U.S

☆ Renault to maintain mixed ethanol combustion engines in Brazil
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "It still pays to invest in combustion in Brazil," top executive Ricardo Gondo said at an event, adding that the industry will need more federal incentives to accelerate its EV transition. Renault is planning to launch Brazilian sales of an electric version of its French-made Kangoo van in October, when it will also launch its Kardian combustion engine SUV, set to be manufactured locally. Earlier this month, Renault CEO Luca de Meo warned a "very competitive" industry in China and that it will need to "catch up fast". ($1 = 4.9256 reais)Reporting by Alberto Alerigi Jr.; Writing by Carolina Pulice; Editing by Sarah Morland and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ricardo Gondo, Gondo, van, JAC, Luca de Meo, Luiz Inacio Lula da Silva, Jair Bolsonaro, Alberto Alerigi Jr, Carolina Pulice, Sarah Morland, Marguerita Choy Organizations: Renault, Viva Technology, Porte de, REUTERS, SAO PAULO, EV, Wall Motor Co, Chery, Qualcomm, Nissan, Brazilian, Thomson Locations: Porte, Paris, France, Brazil, French, Parana, China

It fell 0.3% in the week, breaking a three week streak of gains. U.S. West Texas Intermediate crude (WTI) futures rose 40 cents, or 0.5%, to $90.03 a barrel, as U.S. oil rig counts fell. U.S. Federal Reserve officials warned of further rate hikes, even after voting to hold the benchmark federal funds rate steady at a meeting this week. U.S. oil rig counts, an indicator of future production, also fell by eight to 507 this week, their lowest since February 2022, energy services firm Baker Hughes said. Offline refinery capacity was expected to reach 1.4 million barrels per day (bpd) this week according to IIR Energy versus 800,000 bpd offline last week.

Persons: Nick Oxford, Dennis Kissler, Michelle Bowman, Russia's Transneft, Baker Hughes, Arathy Somasekhar, Nicole Jao, Robert Harvey, Yuka Obayashi, Emily Chow, Marguerita Choy, David Gregorio, Josie Kao Organizations: REUTERS, U.S . West Texas, BOK, U.S . Federal, RBC, St . Petersburg International Mercantile Exchange ., IIR Energy, U.S . Commodity Futures Trading Commission, Thomson Locations: Cushing , Oklahoma, HOUSTON, Brent, U.S, Primorsk, Novorossiysk, St, United States, Houston, New York, Tokyo, Singapore

The forecasts seem at odds as higher rates raise the credit costs that can crimp the economy. MSCI's U.S.-centric gauge of global equity performance and stocks on Wall Street bounced back while Treasury yields, which move inversely to price, retreated. Yields on two- and 10-year notes remained inverted at -68.3 basis points as the shorter-dated note yields more than the longer one. MSCI's all-world country index for stocks (.MIWD00000PUS) gained 0.14%, but the pan-European STOXX 600 index (.STOXX) closed down 0.31%. Oil prices rose as renewed global supply concerns from Russia's fuel export ban countered demand fears driven by macroeconomic headwinds and higher interest rates.

Persons: Brendan McDermid, Marvin Loh, Joe LaVorgna, SMBC, Brent, Craig Ebert, Huw Jones, Tom Westbrook, Marguerita Choy, Rashmi Aich, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Bank, Japan, Treasury, Federal, Fed, U.S, SMBC Nikko Securities America, Dow Jones, Nasdaq, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: New York City, U.S, Boston, New York, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

Yet higher rates typically crimp bank loans and raise the cost of credit. MSCI's U.S.-centric gauge of global equity performance and stocks on Wall Street bounced back while the dollar and Treasury yields, which move inversely to price, retreated. The initial reassessment of the Fed's higher-for-longer policy drove the rise in Treasury yields and created headwinds for risk assets, including equities, credit and emerging markets, but supported the dollar. MSCI's all-world country index for stocks (.MIWD00000PUS) gained 0.37%, but the pan-European STOXX 600 index (.STOXX) fell 0.39%. In emerging markets, Indian bonds and the rupee rallied after JPMorgan said it would add Indian debt to its widely tracked emerging markets index, setting the stage for billions of dollars in foreign inflows.

Persons: Brendan McDermid, Marvin Loh, Brent, Craig Ebert, Huw Jones, Tom Westbrook, Marguerita Choy, Rashmi Organizations: New York Stock Exchange, REUTERS, Bank, Japan, U.S, Treasury, Dow Jones, Nasdaq, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: New York City, U.S, U.S . Federal, Boston, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

☆ Argentina wheat sales stall as farmers wait for election, rains
▼ + stars: | 2023-09-22 | by ( Maximilian Heath | ) www.reuters.com time to read: +3 min

This figure compares with 5.28 million tons recorded at almost the same date 2022/23, according to the farming secretariat. The Buenos Aires grains exchange forecasts a 2023/24 wheat harvest of 16.5 million tons, up from the previous drought-hit harvest but lower than a peak of 22.4 million tons in 2021/22. Reuters GraphicsWEATHER AT PLAYThe other factor that is holding wheat sales in the weather, after a historic drought hammered crops over the last year. Cane agreed that, along with a drop in international wheat prices compared with last season, climate uncertainty is weighing farmers as they wait for heavier rainfall. A report on Wednesday by the Rosario grains exchange said heavier rain may only arrive "in the last days of September or the first days of October."

Persons: Nina, Agustin Marcarian, Miguel Cane, Cane, Patricia Bullrich, Javier Milei, Sergio Massa, Roberto Frigo, Rosario de Tala, Frigo, Maximilian Heath, Nicolás Misculin, Adam Jourdan, Marguerita Choy Organizations: REUTERS, Reuters, Entre, Tala, Thomson Locations: Navarro, Buenos Aires, Argentina, BUENOS AIRES, El, Rosario de, Entre Rios, Rosario

Horizontal drilling rigs operate in the Permian Basin oil production area near Wink, Texas U.S. August 22, 2018. REUTERS/Nick Oxford Acquire Licensing RightsSept 22 - U.S. energy firms this week cut the number of oil and natural gas rigs operating for first time in three weeks, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. U.S. oil rigs fell by eight to 507 this week, their lowest since February 2022, while gas rigs dropped by three to 118. In the Permian in West Texas and eastern New Mexico, the nation's biggest shale oil basin, drillers cut five rigs, bringing the total oil and gas count down to 317, the lowest since March 2022, according to Baker Hughes. In the Haynesville shale in Arkansas, Louisiana and Texas, drillers cut the number of gas rigs operating by two to 39, the lowest since November 2020.

Persons: Nick Oxford, Baker Hughes, TD Cowen, Scott DiSavino, Marguerita Choy Organizations: Wink , Texas U.S, REUTERS, drillers, Energy Information Administration, Thomson Locations: Wink , Texas, West Texas, New Mexico, Arkansas , Louisiana, Texas, U.S

U.S. Vice President Kamala Harris attends the 11th ASEAN-U.S. YASUYOSHI CHIBA/Pool via REUTERS/File photo Acquire Licensing RightsSept 21 (Reuters) - The Biden administration on Thursday announced plans to remove medical bills from Americans' credit reports in a push to end what it called coercive debt collection tactics that affect millions of consumers. Harris told reporters that more than 100 million Americans had unpaid medical debt. For instance, 27% of Black households hold medical debt compared with 16.8% of non-Black households. According to the CFPB, the Fair Credit Reporting Act restricts the use of medical information in credit decisions and credit reports.

Persons: Kamala Harris, YASUYOSHI, Biden, Rohit Chopra, Harris, CFPB, Andrea Shalal, Douglas Gillison, Leslie Adler, Marguerita Choy Organizations: ASEAN, U.S, Summit, ASEAN Summit, Consumer Financial Protection Bureau, Brookings Institution, Thomson Locations: Jakarta, Indonesia

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. The U.S. central bank on Wednesday kept its key lending rate steady, as expected, but indicated another hike is possible as it and other central banks tighten policy to tame inflation. Major equity indices in Europe and on Wall Street fell more than 1% on concerns higher rates will curb growth. /FRXMirroring a rise in Treasury yields, Germany's 10-year government bond yield touched a fresh six-month high of 2.73% and Britain's 10-year gilt yield rose to 4.29% after falling on Wednesday to its lowest since July. Gold extended its decline for a third straight day as the dollar and Treasury yields rallied on the Fed's warning of a possible additional rate hike.

Persons: Brendan McDermid, there's, Michael Arone, Jack Ablin, it's, John Hardy, Hardy, Brent, Xie Yu, Marguerita Choy, Tomasz Janowski, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Swiss, Bank of England, Swiss National Bank, Fed, State Street Global Advisors, Reuters, Treasury, Cresset Capital Management, Saxo Bank, Dow Jones, Nasdaq, Sterling, Reuters Graphics, U.S, West Texas Intermediate, Thomson Locations: New York City, U.S, Norway, Sweden, Europe, Boston, Pebble Beach , Florida, Hong Kong

[1/2] A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio Acquire Licensing RightsNEW YORK, Sept 21 (Reuters) - A U.S. federal judge on Thursday said American cities may pursue class-action claims accusing eight large banks of driving up interest rates they paid on a popular municipal bond. Cities led by Baltimore, Philadelphia and San Diego accused the banks of colluding to raise rates on more than 12,000 variable-rate demand obligations (VRDOs) from 2008 to 2016. Cities accused the eight banks of conspiring not to compete for remarketing services, and artificially inflating rates by sharing information about bond inventories and planned rate changes. The case is Philadelphia et al v Bank of America Corp et al, U.S. District Court, Southern District of New York, No.

Persons: Carlos Osorio, Jesse Furman, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells, San Diego, Banks, Furman, Dan Brockett, Jonathan Stempel, Marguerita Choy Organizations: Royal Bank of Canada, REUTERS, U.S, Bank of America, Barclays, Citigroup, JPMorgan, Municipal Securities Rulemaking Board, al, Bank of America Corp, Court, Southern District of, Thomson Locations: Toronto , Ontario, Canada, Manhattan, Baltimore, Philadelphia, San, colluding, U.S, Southern District, Southern District of New York, New York

☆ Analysis: Sizzling rally in US energy stocks has room to run, bulls say
▼ + stars: | 2023-09-21 | by ( David Randall | ) www.reuters.com time to read: +5 min

Some believe a tight oil market and resilient U.S. growth will keep energy stocks rising for the rest of 2023. Bullish investors argue that energy stocks are still cheap by historical standards - and far less richly valued than other areas of the market. The energy sector currently trades at a forward price to earnings ratio of 12.2, well below its historical median forward P/E of 15.3, according to LSEG Datastream. Parts of the market appear skeptical energy stocks have much further to run. "That should result in a ... smoother ride for energy stocks than we’ve been accustomed to."

Persons: Bing Guan, LSEG, Charles Lemonides, Baker Hughes, Savita Subramanian, Brent, Bjarne Schieldrop, Rodney Clayton, we’ve, David Randall, Ira Iosebashvili, Marguerita Choy Organizations: Exxon, Mobil, REUTERS, Energy, West Texas, Federal, drillers, U.S . Energy, Administration, Global, Citi, Brent, SEB Research, Macquarie, Duff, Phelps Investment Management, Thomson Locations: Beaumont , Texas, U.S, Saudi Arabia, Russia, China

☆ Klaviyo, Arm, Instacart wobble, raising doubts over IPO revival
▼ + stars: | 2023-09-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Among other companies that have been gearing up for U.S. stock market listings are German premium footwear maker Birkenstock Holding and Vietnam internet company VNG Corp (VNZ.HNO). Chip designer Arm's stock on Wednesday hit a low of $51.52, coming close to its $51 IPO price in this year's biggest IPO last Thursday. Shares of grocery delivery app Instacart, which debuted Tuesday, fell to a low of $29.96, below their $30 IPO price. Klaviyo also surrendered most of its initial gains, hitting a low for the day of $30.26, just above its $30 IPO price. Arm and Instacart were "pumped up to do the IPO," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.

Persons: Dado Ruvic, Robert Pavlik, Klaviyo, Jerome Powell, haven't, ”, Jake Dollarhide, Ortex, Peter Tuz, Mark Luschini, Janney Montgomery Scott, Caroline Valetkevitch, Savyata Mishra, Niket, Lewis Krauskopf, Noel Randewich, Marguerita Choy, Stephen Coates Organizations: REUTERS, Arm Holdings, Investment, Dakota Wealth, Birkenstock, VNG Corp, Federal, Nasdaq, Longbow, Management, Chase Investment, People, Thomson Locations: Fairfield , Connecticut, Vietnam, Tulsa , Oklahoma, Charlottesville , Virginia, Bengaluru, New York, San Francisco

Search resuls for: "Choy"

25 mentions found