Author: News Room

ASTANA (Reuters) -Kazakhstan has started arbitration proceedings against companies developing its Kashagan and Karachaganak oilfields over $13 billion and $3.5 billion respectively in costs deducted as part of profit-sharing deals, its energy minister said on Tuesday. “I can only say these lawsuits have been filed in the interest of the people of Kazakhstan,” Energy Minister Almasadam Satkaliyev told reporters, declining to provide any further details about the claims. The offshore Kashagan field, one of the biggest discoveries in recent decades, is being developed by Eni, Shell (LON:), TotalEnergies, ExxonMobil (NYSE:), KazMunayGas, Inpex and CNPC. Eni, Shell and KazMunayGaz are also…

© Reuters. FILE PHOTO: The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. REUTERS/Arnd Wiegmann/File Photo By Tom Polansek CHICAGO (Reuters) -About 150 employees of a Tyson Foods Inc (NYSE:) chicken plant in Arkansas went on strike on Monday for better treatment before the company shuts the facility, an organizer said. Tyson plans to close the plant in Van Buren, Arkansas, on May 12, eliminating jobs for 969 non-union employees, as it seeks to improve performance in its chicken business. Employees refused to work in part because Tyson said they would…

Treasury yields were little changed Tuesday morning as traders awaited the U.S. consumer-price index report on Wednesday. What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.007% was 4.012%, up slightly from 4.004% on Monday. The yield on the 10-year Treasury TMUBMUSD10Y, 3.424% advanced slightly to 3.424% from 3.414% Monday afternoon. The yield on the 30-year Treasury TMUBMUSD30Y, 3.630% was 3.634%, up slightly from 3.626% on Monday. What’s driving markets U.S. bond yields were initially softer on Tuesday after data from China showed consumer inflation falling.Yields then turned steady to slightly higher as the morning wore on, with traders awaiting…

The deep uncertainty that the COVID pandemic created in the workforce hasn’t waned. U.S. workers are struggling with inflation, burnout, and fresh waves of layoffs. This comes as people expect more from employers — more leadership, more urgency, more action, and better jobs. The public’s perspective is clear and consistent: companies need to prioritize their employees. In today’s unstable economic climate, worker wages and treatment are more important to Americans than ever. When it comes to creating U.S. jobs with strong wages, good benefits, safe environments and opportunities for upward mobility, a handful of companies lead the pack. Bank of America…

Visa Inc. V, +0.74% said late Monday it increased its board to a dozen members with the election of Pam Murphy, who is the chief executive of cybersecurity company Imperva Inc. Visa Chief Executive Ryan McInerney said in a statement that Murphy’s “extensive operational experience in technology, cybersecurity, international business operations and strategic planning will be invaluable to Visa as we accelerate our strategy to facilitate global commerce and money movement.” Visa shares rose less than 0.1% after hours, following a 0.2% rise to close the regular session at $226.43. Read the full article here

These were the biggest moving stocks ahead of Monday’s open. Gainers: Shares of Micron Technology Inc. MU, +0.79% climbed 5.6% in premarket trading, getting a boost after production cuts announced by rival Samsung Electronics Co. Ltd 005930, +0.30%. Shares of Pioneer Natural Resources PXD, -0.65% rose 7.3% after The Wall Street Journal reported that the shale driller had held preliminary talks with Exxon Mobil XOM, +0.31% over a potential acquisition. Stock in Capital One Financial COF, +1.02% dropped 3.5% after reports that Walmart Inc. WMT, -0.02% had sued the credit-card giant to scrap their partnership. Shares of Tupperware Brands Corp.…

Mark Lamb, the sheriff of Pinal County, has filed paperwork to run for Senate in Arizona, entering the unpredictable three-way race for the seat currently held by independent Sen. Kyrsten Sinema. Lamb is the first prominent Republican to formally join the primary, which could escalate further with the entry of Kari Lake, the far-right unsuccessful 2022 Arizona gubernatorial nominee who has also teased a bid. Over the last few years, Lamb has worked to raise his profile with the GOP base, making regular appearances on Fox News, focusing on immigration and criticizing Covid-19 vaccine requirements. Lamb also has a checkered…

Anne Keast-Butler has been named the new head of GCHQ, becoming the first woman to lead Britain’s cyber intelligence spy agency.Keast-Butler, who is deputy director of MI5, the UK’s domestic intelligence service, will take up her role in May. She will succeed Sir Jeremy Fleming, who announced in January he was stepping down after six years.“Anne . . . brings a wealth of experience from across the national security community, has the vision to take GCHQ into the future and will ensure that it continues its vital work to protect the UK,” national security adviser Sir Tim Barrow said in a statement.GCHQ has had 16 chiefs,…

Despite media headlines, podcasts, and broadcasts suggesting “doom and gloom” lurks around the corner, investor bullishness has increased markedly since the October lows. This isn’t the first time we have discussed investor sentiment, which is often wrong at the extremes. “One of the hardest things to do is go “against” the prevailing bias regarding investing. Such is known as contrarian investing. One of the most famous contrarian investors is Howard Marks, who once stated: ‘Resisting – and thereby achieving success as a contrarian – isn’t easy. Things combine to make it difficult; including natural herd tendencies and the pain imposed…

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