Category: Business

Shell smashes forecasts with $7.7 billion quarterly profit
May 2, 2024 No Responses

Shell smashes forecasts with $7.7 billion quarterly profit

By Ron Bousso LONDON (Reuters) -Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose. The company said it will buy...
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Maersk raises profit guidance on strong demand and Red Sea disruption
May 2, 2024 No Responses

Maersk raises profit guidance on strong demand and Red Sea disruption

By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Shipping group Maersk raised its full-year profit guidance after reporting first-quarter earnings on Thursday, citing strong demand and higher freight rates as ships sail for longer to avoid conflict in the Red ...
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Exxon-Pioneer deal gets green light from US FTC, Pioneer exec barred from board
May 2, 2024 No Responses

Exxon-Pioneer deal gets green light from US FTC, Pioneer exec barred from board

By Sabrina Valle WASHINGTON/HOUSTON (Reuters) – The Federal Trade Commission on Thursday said Exxon Mobil’s $60 billion purchase of Pioneer Natural Resources could go ahead on the condition Pioneer’s former CEO will not be allowed to join Exx...
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Wall Street rises as Fed rate-hike concerns alleviate
May 2, 2024 No Responses

Wall Street rises as Fed rate-hike concerns alleviate

By Shristi Achar A and Shashwat Chauhan (Reuters) – Wall Street’s main indexes advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and allayed worries around potential rate hikes, with focus moving to a crucial job.....
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US labor market still tight; productivity falters in first quarter
May 2, 2024 No Responses

US labor market still tight; productivity falters in first quarter

By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new claims for unemployment benefits held steady at a low level last week, pointing to a still fairly tight labor market that should continue to underpin the economy in the...
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US trade deficit narrows slightly in March
May 2, 2024 No Responses

US trade deficit narrows slightly in March

WASHINGTON (Reuters) – The U.S. trade deficit narrowed slightly in March as a decline in imports was tempered somewhat by a plunge in exports. The trade deficit contracted 0.1% to $69.4 billion, the Commerce Department’s Bureau of Economic Analysis...
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Insurer Chubb readies $350 million payout tied to Baltimore bridge collapse
May 2, 2024 No Responses

Insurer Chubb readies $350 million payout tied to Baltimore bridge collapse

(Reuters) -Chubb, which had insured Baltimore’s Francis Scott Key Bridge, is getting ready to pay $350 million to the state of Maryland, in what could be the first major payout tied to the collapsing of the bridge in March. The...
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US productivity slows sharply in first quarter
May 2, 2024 No Responses

US productivity slows sharply in first quarter

WASHINGTON (Reuters) – U.S. worker productivity growth slowed sharply in the first quarter, resulting in a surge in labor costs, but the trend in productivity remained solid. Nonfarm productivity, which measures hourly output per worker, increased at a 0...
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ConocoPhillips misses quarterly profit estimates on lower gas prices
May 2, 2024 No Responses

ConocoPhillips misses quarterly profit estimates on lower gas prices

By Sabrina Valle and Sourasis Bose (Reuters) -U.S. oil producer ConocoPhillips missed Wall Street bets for first-quarter profit on Thursday, as lower natural gas prices and increased costs offset higher oil production volumes. A milder-than-expected winter hur...
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