Author: News Room

By Barani Krishnan Investing.com — U.S. natural gas futures resumed their weekly trend in the red, closing the current week down almost 10% after last week’s respite from three straight weeks of deficit. To add to the somber mood of longs in the market, the front-month contract took a fresh dive beneath the key $2 support, a reminder that new lows may be made in the coming days. Natural gas for settled at $2.0110 per mmBtu, or metric million British thermal units, on the New York Mercantile Exchange’s Henry Hub — down 14.4 cents, or 6.7%, on the day. For…

By Barani Krishnan Investing.com — One of the craftiest moves in recent times to boost the oil market should result in a weekly gain at least in crude — which is exactly what OPEC+ got. But nothing more. Crude prices did not advance beyond initial rally to $86.44 per barrel this week and surge to $81.81, which came on the back of the announcement that the world’s largest oil producers will collude to cut a further 1.7 million barrels from daily output after an earlier decision in November to reduce 2.0M barrels per day. New York-traded West Texas Intermediate, or…

By Guy Faulconbridge MOSCOW (Reuters) – Russia warned the West on Friday that unless obstacles to its exports of grain and fertilisers were removed, then Ukraine would have to export grain over land and Moscow would work outside the UN-brokered landmark grain export deal. The Black Sea grain deal is an attempt by the United Nations to ease a food crisis that predated the Russian invasion of Ukraine, but was made worse by the most deadly war in Europe since World War Two. The deal, first signed by Russia, Ukraine, Turkey and the UN in July last year and twice…

© Reuters. A sign is seen outside offices run by WeWork in Philadelphia, Pennsylvania, U.S. September 30, 2019. REUTERS/Mark Makela (Reuters) – WeWork Inc. on Friday said it has adopted a “poison pill” to limit its shareholders from increasing stakes, which would make it difficult for the company to use its net operating loss (NOL) carryforwards to reduce tax. As of Dec. 31, 2021, WeWork had about $6.9 billion of U.S. federal NOLs and $6.6 billion of state NOLs that could be available to offset its future federal taxable income and state taxable income, the company said in a statement.…

3/3 © Reuters. FILE PHOTO: Cosmic Girl, a Virgin Boeing 747-400 aircraft sits on the tarmac with Virgin Orbit’s LauncherOne rocket attached to the wing, ahead of the first UK launch tonight, at Spaceport Cornwall at Newquay Airport in Newquay, Britain, January 9, 2023. 2/3 By Eimi Yamamitsu TOKYO (Reuters) – The bankruptcy filing by Richard Branson’s Virgin Orbit Holdings Inc has dealt a blow to Japan’s hopes of building a domestic space industry, with plans for a Kyushu-based spaceport designed to attract tourism on hold for lack of funding. Oita prefecture, home to Japan’s largest number of hot springs,…

© Reuters. The TESLA logo is seen outside a dealership in the Brooklyn borough of New York City, U.S., April 26, 2021. REUTERS/Shannon Stapleton By David Shepardson WASHINGTON (Reuters) – U.S. safety authorities said on Friday they are investigating whether an advanced driver assistance system was in use when a Tesla (NASDAQ:) struck a 17-year-old student that exited a school bus in North Carolina. The National Highway Traffic Safety Administration (NHTSA) said Friday it would open the special crash investigation into a incident in which 51-year-old driver of a 2022 Tesla Model Y in Halifax County on March 15 reportedly…

5/5 © Reuters. Wayuu indigenous from nearby communities sit on a railway line used by coal producer Cerrejon before lifting a blockade, in Puerto Bolivar, Colombia April 7, 2023. REUTERS/Antonio Cascio 2/5 BOGOTA (Reuters) – Protesters in Colombia’s northern La Guajira province have lifted a four-day blockade of a rail line and the entrance to an export terminal used by coal miner Cerrejon, the company said on Friday. The blockade, which was affecting operations, was led by residents from three communities in Media Luna, the company had previously said. “It has been lifted,” a Cerrejon spokesperson told Reuters, adding normal…

© Reuters. People are seen inside the First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike Segar (Reuters) – First Republic Bank (NYSE:) said in a regulatory filing on Friday that it will suspend payments of quarterly cash dividends on its preferred stock “as a measure of prudent oversight.” Last month, the bank suspended its dividend on common stock after the collapse of Silicon Valley Bank. Large U.S. banks injected $30 billion in deposits into First Republic Bank last month to rescue the lender caught up in a widening crisis triggered…

© Reuters. FILE PHOTO: Tesla vehicles are shown at a sales and service center in Vista, California, U.S., June 3, 2022. REUTERS/Mike Blake By Hyunjoo Jin and Mike Scarcella SAN FRANCISCO (Reuters) – A California Tesla (NASDAQ:) owner on Friday sued the electric carmaker in a prospective class action lawsuit accusing it of violating the privacy of customers. The lawsuit in the U.S. District Court for the Northern District of California came after Reuters reported on Thursday that groups of Tesla employees privately shared via an internal messaging system sometimes highly invasive videos and images recorded by customers’ car cameras…

Cleveland Fed President Loretta Mester said she expects the central bank will have to raise interest rates further, and then hold them at high levels, in order to bring down inflation. “In my modal projection, to put inflation on a sustained downward trajectory to 2% and to keep inflation expectations anchored, monetary policy moves somewhat further into restrictive territory this year, with the fed funds rate moving above 5% and the real fed funds rate staying in positive territory for some time,” Mester told a group of professional economic forecasters in a speech in New York on Tuesday evening. In…