Business News

Oil struggles to find footing after 7 percent slide as outlook darkens

SINGAPORE (Reuters) - Oil struggled to find its footing on Wednesday after plunging 7 percent the previous session, with surging supply and the specter of faltering demand scaring off investors. U.S. West Texas Intermediate (WTI) crude oil futures were at $55.52 per barrel at 0732 GMT, down 17 cents, or 0.3 percent, from their last settlement. International benchmark Brent crude oil futures LCOc1 were down 9 cents at...

14 Nov 8:30 AM 0 Read More...

Crude oil extends steep dive, stocks fall on growth fears

TOKYO (Reuters) - Oil prices extended a steep slide on Wednesday on the back of worries about weakening world demand and oversupply, while global shares sagged as energy sector strains heightened anxiety about a slow down in the global economy. Spreadbetters expected European stocks to open lower, with Britain's FTSE .FTSE losing 0.4 percent, Germany's DAX slipping 0.3 percent .GDAXI and France's CAC .FCHI shedding...

14 Nov 8:30 AM 0 Read More...

U.S. FAA launches high-priority probe of Boeing’s safety analyses: WSJ

(Reuters) – The U.S. aviation regulator has launched a high-priority probe of the safety analyses performed over the years by Boeing Co (BA.N), following the crash of a Lion Air jet in Indonesia last month, the Wall Street Journal reported on Tuesday. The Federal Aviation Administration said it was reviewing details surrounding the safety data and conclusions the company previously provided to it as part of...

14 Nov 5:30 AM 0 Read More...

U.S. FAA launches high-priority probe of Boeing's safety analyses: WSJ

(Reuters) - The U.S. aviation regulator has launched a high-priority probe of the safety analyses performed over the years by Boeing Co (BA.N), following the crash of a Lion Air jet in Indonesia last month, the Wall Street Journal reported on Tuesday. The Federal Aviation Administration said it was reviewing details surrounding the safety data and conclusions the company previously provided to it as part of certifyi...

14 Nov 3:29 AM 0 Read More...

Juul Labs to pull sweet e-cig flavors to curb youth use

(Reuters) - Juul Labs Inc, the U.S. market leader for electronic cigarettes, said on Tuesday it will pull popular flavors such as mango, cucumber and fruit from retail store shelves in an effort to reduce surging teenage use of its products. The move comes as Juul and other e-cigarette makers have faced heightened scrutiny from the U.S. Food and Drug Administration amid a sharp increase by high school students in use...

13 Nov 10:25 PM 0 Read More...

Oil slumps 7 percent to one-year low as rout extends to 12 days

NEW YORK (Reuters) - Oil’s slide accelerated on Tuesday, with U.S. futures suffering their steepest one-day loss in more than three years due to ongoing worries about weakening global demand and oversupply. U.S. futures closed down 7.1 percent, for a record 12th straight decline and the lowest since November 2017. More than 980,000 contracts changed hands, as funds shed positions. “It’s like a run on the bank,...

13 Nov 10:25 PM 0 Read More...

S&P, Dow lose ground as crude plunge punishes energy stocks

NEW YORK (Reuters) - The Dow and S&P 500 ended slightly lower on Tuesday following losses in energy shares and Boeing, offsetting a small gain in technology stocks and renewed hopes for progress in trade talks. The Nasdaq ended the session essentially flat as a rebound in tech kept the index out of negative territory. Energy stocks .SPNY weighed heaviest on the S&P 500, driven lower by a 7.1 percent plunge in...

13 Nov 10:25 PM 0 Read More...

Oil plummets on global demand concerns; U.S. stocks end lower

NEW YORK (Reuters) - Oil prices plunged 7 percent on Tuesday on persistent concerns of oversupply and weakening global demand, causing Wall Street stocks to reverse early gains that were driven by the resumption of trade talks between the United States and China. The U.S. benchmark S&P 500 stock index .SPX ended lower as energy stocks declined with the fall in prices of Brent and U.S. crude futures. U.S. crude t...

13 Nov 10:25 PM 0 Read More...

Former IDG Communications CEO Friedenberg named Reuters News president

TORONTO (Reuters) - Thomson Reuters Corp (TRI.TO) (TRI.N) has appointed tech and media veteran Michael Friedenberg as president of Reuters news and media operations, Thomson Reuters said on Tuesday. Friedenberg, who oversaw a restructuring of IDG Communications, a global business and information company and publisher of popular magazine brands including PCWorld and Macworld, will join the company on Dec. 3. He will ...

13 Nov 10:25 PM 0 Read More...

Trump’s steel tariffs create big profits but few new jobs

SEDALIA, Missouri (Reuters) – Nucor Corp, America’s largest steelmaker, planned a new plant in Sedalia, Missouri, long before U.S. President Donald Trump imposed tariffs to protect the industry – and it does not need them to make money. Although the firm helped lead the lobbying push for tariffs on imports, executives say they invested in Sedalia and two other sites to capitalize on an already profitable...

13 Nov 2:20 PM 0 Read More...