US weekly jobless claims fall to nine-month low; productivity is gaining speed

US weekly jobless claims fall to nine-month low;  productivity is gaining speed

Weekly jobless claims fall by 3,000 to 183,000 Continuing claims decrease by 11,000 to 1.655 million Productivity accelerates by 3.0% in the fourth quarter Unit labor costs grow 1.1% WASHINGTON, Feb. 2 (Reuters) – The number of Americans filing new claims for unemployment benefits fell to a nine-month low last week as the labor market … Read more

Russian missile destroys apartment building, 3 dead, as EU leaders visit Kiev

Russian missile destroys apartment building, 3 dead, as EU leaders visit Kiev

Zelenskiy gives a gloomy assessment of the Russian offensive in the east Russian strike destroys apartment building; 4 dead – officials Lavrov says Russia will respond to long-range missile deliveries European Commission chief in Kyiv to discuss Ukraine’s bid for the EU Zelenskiy promises more anti-corruption measures KYIV, Feb. 2 (Reuters) – A Russian missile … Read more

The Philippines grants the US more access to bases amid concerns about China

The Philippines grants the US more access to bases amid concerns about China

Philippines, US agree to add four locations under EDCA Agreement comes about amid tensions in the South China Sea, over Taiwan EDCA allows US access to Philippine military bases MANILA, Feb. 2 (Reuters) – The Philippines has granted the United States expanded access to its military bases, its defense chiefs said on Thursday, amid mounting … Read more

Airbus and Qatar Airways settle bitter A350 jet row

Airbus and Qatar Airways settle bitter A350 jet row

PARIS, Feb. 1 (Reuters) – Airbus (AIR.PA) and Qatar Airways have settled a dispute over stranded A350 jets, the companies said on Wednesday, avoiding a potentially damaging lawsuit in the UK after a blistering 18-month feud which ripped the lid off the global jet market. The “amicable and mutually acceptable settlement” ends a $2 billion … Read more

Exclusive: EV maker Rivian cuts 6% of jobs amid price war – internal memo

Exclusive: EV maker Rivian cuts 6% of jobs amid price war – internal memo

SAN FRANCISCO, Feb. 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in a bid to cut costs as the EV maker, already struggling with declining cash reserves and a weak economy, braces itself for an industry-wide price war. The company is focusing its resources on ramping up vehicle production and … Read more

Adani waives $2.5 billion share sale as major blow to Indian tycoon

Adani waives .5 billion share sale as major blow to Indian tycoon

NEW DELHI, Feb. 1 (Reuters) – Flagship Gautam Adani called off its $2.5 billion share sale on Wednesday in a dramatic turnaround as a defeat sparked by the criticism of a US short-seller saw billions more of its value of the Indian magnate’s shares wiped out. The withdrawal of the Adani Enterprises (ADEL.NS) share offering … Read more

India increases spending in final pre-election budget

India increases spending in final pre-election budget

NEW DELHI, Feb. 1 (Reuters) – The Indian government on Wednesday announced a budget of $550 billion for the next fiscal year starting April 1, setting out a plan for record investment while limiting the budget deficit. Prime Minister Narendra Modi’s party, which faces elections in key states this year and a national election in … Read more

AMD sales surpass targets, Wall St relieved after Intel’s grim outlook

AMD sales surpass targets, Wall St relieved after Intel’s grim outlook

31 Jan. (Reuters) – US chipmaker Advanced Micro Devices Inc (AMD.O) posted sales on Tuesday that exceeded Wall Street targets and said it expected business to improve in the second half, exciting investors who saw that the company made a profit on rival Intel. The stock rose about 1.5% in aftermarket trading. While AMD’s forecast … Read more

Exxon crushes Western oil company profits by $56 billion by 2022

Exxon crushes Western oil company profits by  billion by 2022

HOUSTON, Jan. 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted a net profit of $56 billion for 2022, the company said Tuesday, taking home about $6.3 million an hour last year and not just a company record but also a historic high point for the Western oil industry. Oil companies are expected to break their … Read more

US requests Tesla driver-assist documents; company raises capex forecast

US requests Tesla driver-assist documents;  company raises capex forecast

WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) announced on Tuesday that it had received requests from the US Department of Justice for documents related to its Full Self-Driving and Autopilot driver assistance systems as regulations tighten. Reuters reported in October that Tesla is under criminal investigation over claims that the company’s electric vehicles could … Read more