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Rising Diesel Costs from Iran War Strain US School Budgets
LOS ANGELES, May 16 (Reuters) - Soaring diesel prices since the onset of the Iran war are draining already tight U.S. school district budgets, making it more expensive to bus students and run generators in a shock officials say they will not be able to afford for long.
21 hours ago
UAE Says OPEC, OPEC+ Exit Was Sovereign Strategic Decision, Not Political Move
DUBAI, May 16 (Reuters) - The United Arab Emirates' decision to withdraw from OPEC and OPEC+ was a sovereign and strategic choice based on a comprehensive assessment of its production policy and future capabilities, the UAE energy minister, Suhail Al Mazrouei, said on Saturday in a post on X.
21 hours ago
Samsung Elec, South Korea union to resume pay talks on Monday, union says
By Heekyong Yang SEOUL, May 16 (Reuters) - Samsung Electronics 005930.KS and its South Korean labour union will resume pay talks on Monday with a government mediator, the union said, in a move that could ease concerns over a potentially disruptive strike at the tech giant.The union said in a stat...
22 hours ago
Iraq exported 10 million barrels of oil through Strait of Hormuz in April
By Muayad HameedBAGHDAD, May 16 (Reuters) - Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, down from about 93 million barrels monthly before the Iran war, the country's new oil minister, Basim Mohammed, said at a press conference on Saturday.The closure of the Strait ...
23 hours ago
Bill Ackman Says Alphabet Stake Sale Not a Bet Against the Company
May 16 (Reuters) - Billionaire investor Bill Ackman said on Saturday that the sale of Google parent Alphabet's GOOGL.O shares was not a bet against the company.
23 hours ago
EXCLUSIVE-At Samsung, the Global AI Boom Spurred a Looming Strike and Deep Divisions
SEOUL, May 15 (Reuters) - A looming 18-day strike at South Korean chip giant Samsung that has triggered worries within the government, rattled foreign investors and threatened global supply chains rests on one crucial question: who should share in the spoils of the AI boom?
Sat, May 16
Fitch Changes Goldman Sachs BDC's Ratings Outlook to Negative
WASHINGTON, May 15 (Reuters) - Fitch Ratings has changed its ratings outlook to negative for Goldman Sachs' GS.N private credit fund, Goldman Sachs BDC GSBD.N, the ratings agency said on Friday.
Sat, May 16
Institutional Investors Flocked to Establish New Stakes in Semiconductor Firms in First Quarter
PROVIDENCE, Rhode Island, May 15 (Reuters) - Institutional investors took new positions in semiconductor stocks ranging from Intel INTC.O to Micron MU.O during the first quarter of the year, positioning them to profit from a red-hot rally that extended into the second quarter, according to a Reuters
Sat, May 16
Consumers Sue Amazon for Not Refunding Trump Tariff Costs
May 15 (Reuters) - Amazon.com Inc AMZN.O was sued on Friday by consumers seeking refunds for costs passed on to them in the form of higher prices as a result of tariffs the U.S. Supreme Court later concluded had been unlawfully imposed by President Donald Trump.
Sat, May 16
Arm Holdings to Face US Antitrust Probe Over Chip Tech, Bloomberg News Reports
May 15 (Reuters) - Arm Holdings ARM.O faces an antitrust probe by the U.S. Federal Trade Commission over the British chip designer's licensing of its semiconductor technology, part of global scrutiny of the business, Bloomberg News reported on Friday.
Sat, May 16
European Blue-Chip Earnings Set for Strongest Growth Since Late 2022
European blue-chip companies are on track to deliver the strongest earnings growth since the fourth quarter of 2022, the latest LSEG I/B/E/S data showed on Thursday, though revenue was still expected to fall.
Fri, May 15
Japanese Bond Yields Hit Record Highs as Rate-Hike Bets Firm
Japanese government bond (JGB) yields climbed across the curve on Friday, with several tenors reaching record highs on rising bets for Bank of Japan interest rate hikes amid building inflationary pressures.
Fri, May 15
Japan's wholesale inflation spikes on energy shock, bolsters case for June rate hike
April annual wholesale inflation hits 3-year high of 4.9%Yen-based import price index spikes 17.5% yr/yr in AprilRises driven by petroleum, chemical, metals goods pricesMarkets price in strong chance of BOJ rate hike in JuneInflation, fiscal concerns lift 10-year yield to 29-year highBy Leika Kihara...
Fri, May 15
Japan's Nikkei Flips To Losses Amid Tech Share Profit Taking
Japan's Nikkei share average turned lower on Friday, as traders locked in profits on high-flying tech shares heading into the weekend.
Fri, May 15
Gold Heads for Weekly Loss on Oil-Driven Inflation Fears; Markets Eye Trump-XI Talks
Trump-Xi to meet again on last day of Trump's China visitBrent crude oil up over 5% this week on supply concernsDollar, Treasury yields set for weekly gainsBy Noel John May 15 (Reuters) - Gold fell to a more than one-week low on Friday and was set for a weekly decline as higher energy prices ...
Fri, May 15
Fed's Williams Sees no Need to Change Rate Policy Right Now
Federal Reserve Bank of New York President John Williams said on Thursday he does not see a need right now for the central bank to weigh any change in interest rate policy amid the uncertainty created by the Middle East war.
Fri, May 15
China Wants Strait of Hormuz Open Without Restrictions, USTR Greer Tells Bloomberg News
U.S. Trade Representative Jamieson Greer said on Friday that Chinese officials made clear the U.S.-China summit that it wants to see the Strait of Hormuz reopen without restrictions or tolls and that Beijing will act pragmatically to limit military support for Iran.
Fri, May 15
WRAPUP 13-Xi tells Trump that mishandling of Taiwan could lead to 'dangerous' place
First visit to China by US president since 2017Xi hails 'positive outcome' of trade talksTrump seeks economic wins, help on Iran warBig Boeing airplane order expected, Bessent saysNvidia's Huang, Musk among CEOs in towBy Trevor Hunnicutt and Mei Mei Chu BEIJING, May 14 (Reuters) - Chi...
Thu, May 14
REFILE-ANALYSIS-Investors gird for high US Treasury yields as new Fed Chair Warsh battles inflation
Investors expect persistent inflation to keep long yields highUncertainty over Warsh's Fed policy adds to steepening betsOil price big driver of Treasury yieldsBy Gertrude Chavez-Dreyfuss NEW YORK, May 14 (Reuters) - Investors are bracing for U.S. Treasury yields to stay higher longer, skepti...
Thu, May 14
REFILE-AI boom puts SK Hynix on the cusp of $1 trillion market value
SEOUL, May 14 (Reuters) - SK Hynix 000660.KS is on the verge of topping a $1 trillion market value, just weeks after Samsung Electronics 005930.KS crossed the milestone, as strong demand for artificial intelligence places South Korea at the heart of Asia's AI boom.SK Hynix shares have risen more...
Thu, May 14
