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LVMH's Moet Hennessy to cut workforce by 10%, FT reports
May 1 (Reuters) - LVMH LVMH.PA group's wine and spirits business Moet Hennessy will shrink its workforce by more than 10%, about 1,200 employees, the Financial Times reported on Thursday, citing an internal video message from the division's CEO, Jean-Jacques Guiony. Guiony and his deputy, A...Reuters
Thu, May 1
Li-Cycle seeking buyers amid ongoing liquidity concerns
May 1 (Reuters) - Canadian lithium battery recycling company Li-Cycle LICYN.MX said on Thursday it is seeking buyers for its business or assets as it needs additional funding to maintain operations. The company has hired financial services company Hilco Corporate Finance to help with the process, bu...Reuters
Thu, May 1
US Ex-Im Bank votes to reverse ban on overseas coal lending
By Valerie VolcoviciWASHINGTON, May 1 (Reuters) - The board of the U.S. Export-Import Bank unanimously voted on Thursday to reverse a years-long restriction on lending to coal projects overseas, reflecting President Donald Trump's agenda that calls for more domestic coal mining and exports of U....Reuters
Thu, May 1
HF Sinclair's refinery in Anacortes, Washington, to undergo turnaround in Q3, company says
NEW YORK, May 1 (Reuters) - HF Sinclair's DINO.N 149,000 barrel-per-day Puget Sound refinery is expected to undergo a turnaround in the third quarter, the company said on Thursday.The refinery, located in Anacortes, Washington, will conduct maintenance work on its crude, hydrotreater and isomeri...Reuters
Thu, May 1
Mexican refinery Olmeca hits new high in March, but still short of target
By Ana Isabel Martinez MEXICO CITY, May 1 (Reuters) - Mexican state energy company Pemex's new Olmeca refinery in March posted its highest crude processing and fuel production figures since it began reporting data in mid-2024, boosting the company's refining arm even as its hydrocarbon ou...Reuters
Thu, May 1
Europe Gasoline/Naphtha-Gasoline margins rise on lower ARA stocks
LONDON, May 1 (Reuters) - Northwest European gasoline profit margins rose by over $2 to $15.87 a barrel on Thursday as inventories in northwest Europe fell to their lowest in five months. Gunvor, Sahara, and Litasco sold over 15,000 metric tons of Eurobob E5 on barges to Aramco, TotalEnergies, Shel...Reuters
Thu, May 1
METALS-Hopes of progress in US trade talks lift copper after sharp sell-off
By Polina Devitt LONDON, May 1 (Reuters) - Copper prices rose in London on Thursday as hopes for progress in U.S. tariff talks with top consumer China and other trading partners provided support to the metal.Benchmark three-month copper CMCU3 on the London Metal Exchange (LME) was up 1.0% at $9,2...Reuters
Thu, May 1
US Cash Grains-Corn, soy bids mixed as futures fall
CHICAGO, May 1 (Reuters) - Spot basis bids for corn and soybeans were mixed in the U.S. Midwest on Thursday as futures ticked down on favorable planting weather and plentiful supply.Farmers have been reluctant sellers as they focus on seeding their corn and soy crop. Buyers have continued to roll th...Reuters
Thu, May 1
SOFTS-Sugar hits 3-1/2 year low on US economic contraction, fading supply fears
LONDON, May 1 (Reuters) - Sugar futures traded on the ICE exchange hit a 3-1/2-year low on Thursday following data showing a contraction in the U.S. economy, the world's largest, and fading supply fears. May Day public holidays around the world, including much of Europe, meant trading was thin...Reuters
Thu, May 1
GRAINS-Soy futures fall to two-week low on worries over US export demand
By Tom Polansek CHICAGO, May 1 (Reuters) - Chicago Board of Trade soybean futures slid to a two-week low on Thursday as the United States faced competition for global sales from South American suppliers and a lack of demand from top-importer China, analysts said.Corn futures also slumped, while w...Reuters
Thu, May 1
US-Iran talks postponed, new date depends on US approach, Iranian official says
Fourth round of talks had been expected in Rome on SaturdayIranian official says US sanctions are 'not helping' mattersOne source says US never confirmed participation in Rome talksFriday's Iran-Europe talks also now uncertain, says official DUBAI, May 1 (Reuters) - A fourth round of ...Reuters
Thu, May 1
White House dismisses Chamber push for small businesses tariff relief
WASHINGTON, May 1 (Reuters) - The White House on Thursday rebuffed an effort to give small U.S. business owners any immediate relief from tariffs, saying those companies would get economic relief from tax cuts that Congress is seeking to extend. The U.S. Chamber of Commerce, in a letter to U.S. ...Reuters
Thu, May 1
US refiner HF Sinclair posts smaller-than-expected loss in first quarter
Refiner's shares up over 4% after earnings releaseCompany navigates through volatility around tariffsBy Nicole Jao, Vallari Srivastava NEW YORK, May 1 (Reuters) - U.S. refiner HF Sinclair DINO.N posted a smaller-than-expected loss in the first quarter on Thursday, supported by an improvement...Reuters
Thu, May 1
HF Sinclair refineries to operate at up to 93% of capacity in Q2 2025, company says
By Nicole JaoNEW YORK, May 1 (Reuters) - Independent U.S. refiner HF Sinclair DINO.N plans to operate its seven refineries at up to 93% of combined capacity of 678,000 barrels per day (bpd) in the second quarter of 2025, said Atanas Atanasov, chief financial officer, during a conference call on Thur...Reuters
Thu, May 1
US Ex-Im votes to end policy restricting overseas coal project lending, observers say
WASHINGTON, May 1 (Reuters) - The board of the U.S. Export-Import Bank voted to reverse a two-decade long restriction on lending to coal projects overseas on Thursday, reflecting President Donald Trump's agenda that calls for more domestic coal mining and exports of U.S. coal.The vote comes less...Reuters
Thu, May 1
PRECIOUS-Gold slips to 2-week low on trade talk hopes, China holiday
Trump says 'potential deals' with India, South Korea, Japan possibleU.S. economy shrinks in first quarter of fiscal 2025U.S. nonfarm payroll report due on FridayBy Anjana Anil May 1 (Reuters) - Gold dropped to a two-week low on Thursday, pressured by signals of softening trade tensions an...Reuters
Thu, May 1
U.S. nuclear power plant outages
May 1 (Reuters) - The following table lists total U.S. nuclear power generation capacity and the capacity offline due to planned and unplanned reasons, according to the daily data from the U.S. Nuclear Regulatory Commission.Total capacity EL-USTOTCAP-MW ......... 96,986 MW Total o...Reuters
Thu, May 1
Trump administration sues Michigan to block planned climate change lawsuit
Justice Department calls Michigan's planned lawsuit overreachMichigan preparing litigation against fossil fuel industryBy Nate Raymond May 1 (Reuters) - The Trump administration has sued the state of Michigan, seeking to prevent it from suing major oil companies over the role they have played...Reuters
Thu, May 1
ARA gasoline stocks fell to 5-month low, Insights Global data shows
LONDON, May 1 (Reuters) - Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by over 5% on the week, data from Dutch consultancy Insights Global showed on Thursday.Gasoline stocks dropped to 1.2 million tons on steady exports to the U.S. and Can...Reuters
Thu, May 1
Utility Pinnacle West swings to quarterly loss on higher costs
May 1 (Reuters) - U.S. utility Pinnacle West Capital PNW.N on Thursday swung to a loss in the first quarter, hurt by higher operating and interest costs. The Phoenix, Arizona-based company's operating and maintenance costs rose due to new power plants and intangible assets. Higher-for-longer...Reuters
Thu, May 1
NYSE-parent ICE beats first-quarter profit estimates on robust trading volume
By Prakhar Srivastava May 1 (Reuters) - Intercontinental Exchange ICE.N beat Wall Street estimates for first-quarter profit on Thursday, benefiting from strong trading volumes in energy and options segments. Shares of the New York Stock Exchange parent were up 1.2%. Global commodity and energy m...Reuters
Thu, May 1
US says minerals deal will strengthen Trump in talks with Russia
US and Ukraine signed minerals deal on WednesdayWashington and Kyiv hail the deal, Kremlin silent on itTrump is seeking a peace deal in the war in Ukraine KYIV/WASHINGTON, May 1 (Reuters) - Kyiv and Washington on Thursday hailed a deal giving the United States preferential access to new Ukrainia...Reuters
Thu, May 1
White House says small businesses to get tariff relief through taxes
WASHINGTON, May 1 (Reuters) - Small businesses will see economic relief in the form of tax cuts, a top White House official said on Thursday after the U.S. Chamber of Commerce said it had asked the Trump administration for tariff exclusions. Asked about the Chamber's request, White House dep...Reuters
Thu, May 1
US-Iran talks set for Saturday likely to be postponed, Axios reporter says
WASHINGTON, May 1 (Reuters) - A fourth round of talks between the United States and Iran, which was due to take place in Rome on Saturday, is likely to be postponed until next week, an Axios reporter said on Thursday, citing three sources. A meeting planned for Friday with Iran and Britain, France a...Reuters
Thu, May 1