Business News

U.S. to announce end to sanctions waivers for Iran oil imports: source

WASHINGTON (Reuters) - The United States is expected to announce on Monday that all importers of Iranian oil will have to end their imports shortly or be subject to U.S. sanctions, a source familiar with the situation told Reuters. The source confirmed a report by a Washington Post columnist that the administration will terminate the sanctions waivers it had granted to some importers of Iranian oil late last year. U....

22 Apr 2:20 AM 0 Read More...

Tesla says investigating incident of parked car exploding in Shanghai

SHANGHAI (Reuters) - U.S. electric vehicle maker Tesla Inc on Monday said it had sent a team to investigate a video on Chinese social media which showed a parked Tesla Model S car exploding. The video was widely shared on China’s Twitter-like Weibo, with the hashtag “Tesla self-ignites” becoming one of the most-read topics on the platform, being viewed over five million times. It showed a parked Tesla S starti...

22 Apr 2:20 AM 0 Read More...

Oil prices hit Nov 2018 highs on report U.S. will end Iran oil sanction waivers

SINGAPORE (Reuters) - Oil prices rose by more than 1 percent on Monday to levels not seen since November 2018, driven up by a Washington Post opinion column that said the United States is preparing to announce all imports of Iranian oil must end or be subject to sanctions. Brent crude futures rose above $72.90 for the first time since November 2018 on Monday, hitting a high of $72.93 shortly after 0100 GMT, high of $...

22 Apr 2:20 AM 0 Read More...

Asia stocks firm, crude hits 5-month high on Iran sanctions report

TOKYO (Reuters) - Asian stocks were steady on Monday as investors awaited the return of major financial markets from the Good Friday holiday, while oil prices spiked on a report the U.S. is likely to ask all importers of Iranian oil to end their purchases or face sanctions. Brent futures rallied to a five-month high, after the Washington Post said U.S. Secretary of State Mike Pompeo will announce “that as of May 2,...

22 Apr 2:20 AM 0 Read More...

Strong stock and bond markets at odds over global growth

NEW YORK (Reuters) - It looks like something has to give in global markets. Stocks and bonds around the world have rallied atypically together since the start of the year, rewarding investors both bullish and bearish on the direction of global growth. The main catalyst for the gains was the Federal Reserve’s surprise decision in early January to pause its tightening policy, after four interest rate increases in 20...

21 Apr 4:19 PM 0 Read More...

Financial market 'pause party' makes Fed rate cut less likely

WASHINGTON/NEW YORK (Reuters) - Risk-taking has been the rage since the Federal Reserve quit hiking interest rates at the end of last year. U.S. stocks are back near record highs and investors are stockpiling the lowest-grade corporate bonds with only a smidgen of extra compensation for the added risk. That rebounding mood on Wall Street may be welcomed by a president that has been demanding the Fed cut rates after m...

21 Apr 4:19 PM 0 Read More...

Elon Musk’s SpaceX suffers capsule anomaly during Florida tests

(Reuters) – Elon Musk’s SpaceX suffered an anomaly in one of its Crew Dragon capsules while conducting engine tests at the Cape Canaveral Air Force Station in Florida on Saturday, the company said. “The initial tests completed successfully but the final test resulted in an anomaly on the test stand,” the company said in a statement. The issue was earlier reported by Florida Today, which said orange sm...

21 Apr 1:54 AM 0 Read More...

Union Pacific operational overhaul gains traction, shares rise

(This April 18 story corrects to show operating ratio declined, error also occurred in previous updates) By Lisa Baertlein and Rachit Vats (Reuters) - U.S. railroad operator Union Pacific Corp on Thursday reported a better-than-expected quarterly profit as price increases and cost controls offset the impact of severe winter weather and record flooding that damaged rails in the Midwest. The quarter was a test for the...

20 Apr 8:14 PM 0 Read More...

Tesla to shrink board to seven directors from 11

(Reuters) - Tesla Inc said on Friday that four members of its eleven-member board would be leaving over the next two years, as the electric car company looks to streamline its board. Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice will not be standing for re-election in the upcoming annual meetings of stockholders in 2019 and 2020, the company said here in a regulatory filing. The company said...

20 Apr 12:08 AM 0 Read More...

Exclusive: Tereos still searching for wider funding - sources

(Corrects headline and paragraph 1 to make clear that syndication process is ongoing, to make clear in paragraph 5 that no offers finalized by April 15, to clarify sourcing throughout) By Sybille de La Hamaide PARIS (Reuters) - French sugar group Tereos is still working to find additional banks to spread risk on a 250 million euro ($281 million) loan secured earlier this year, two sources familiar with the matter sa...

20 Apr 12:08 AM 0 Read More...