Oil swings back down, with WTI oil trading near US$81 per barrel
TikTok is at a crossroads, as U.S. concerns about its Chinese ownership grow. Some officials have explored the idea of forcing a sale to a U.S. company. WSJ explains the challenges of making that happen. Illustration: Preston Jessee
At least seven people were killed in two related shootings on Monday near Half Moon Bay, Calif, according to police. The attacks come days after another shooting in the state killed 11 people. Photo: Nhat V. Meyer/Bay Area News Group/Associated Press
TikTok is requiring employees to live near their assigned offices, The Information reported Monday, as part of a broader crackdown on remote work.
Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce analytical results from a prospecting program completed in Fall 2022 on the 100% owned Murmac Uranium Project ("Murmac" or the "Project"), located in northern Saskatchewan (see Figure 1).
HAMBURG (Reuters) -Volkswagen's energy and charging division is keeping all options open for the long-term structure of the business, including a possible listing, the division's chief Elke Temme said in an interview with Reuters. The division, like all the carmaker's unlisted brands and its battery business PowerCo, is going through the motions of preparing for a listing as a training exercise instituted by Chief Executive Oliver Blume after the carmaker listed sportscar brand Porsche last year. The results of these exercises, which Volkswagen has dubbed 'virtual equity stories', will be presented internally on Thursday, an source who declined to be named told Reuters, with a view to sharing them externally at a capital markets day later this year.
TOKYO (Reuters) -Japanese electric motor maker Nidec Corp slashed its full-year operating profit forecast by nearly half on Tuesday as it faced pressure from weakening demand for technology goods and a slower-than-expected recovery of the global car industry. The downgrade, which was partly due to expenses from an on-going restructuring push to bring down fixed costs, shows the difficulties manufacturers may face in attempting to capture a bigger slice of the global electric vehicle (EV) market. The company cut its operating profit forecast for the financial year through March by 48% to 110 billion yen ($845 million), well below an average forecast of 202.5 billion yen by 20 analysts, according to Refinitiv data.
Americanas SA three largest shareholders, the billionaire founders of 3G Capital, said on Sunday they had not known of $4 billion in accounting 'inconsistencies' at the Brazilian retailer. In their first official statement since Americanas filed for bankruptcy this month, Jorge Paulo Lemann, Carlos Alberto Sicupira and Marcel Telles said they were "sorry for investor and creditor losses". It said Americanas had been audited by PwC and that the retailer's "banks and auditors never reported any problems".
TORONTO — Magna International Inc. says its margins for 2022 are expected to come in lower than it forecast. The auto parts company says its adjusted earnings before interest and taxes (EBIT) margin is expected to be about 4.3 per cent for 2022. The ratio of adjusted EBIT to total sales is below the range of 4.8 to 5.0 per cent expected in its November outlook for the year. Based on the preliminary results, Magna says total sales for 2022 were about US$37.8 billion. The company had expected sale
Diamond Therapeutics Inc. ("Diamond"), a drug development company focused on low-dose psychedelic-derived therapies for use in the treatment of mental health, is pleased to announce it has received Health Canada approval to begin a Phase 2 clinical trial evaluating the safety, tolerability and efficacy of repeat low-doses of psilocybin for the treatment of generalized anxiety disorder (GAD). The approval comes by way of a No Objection Letter (NOL) from Health Canada.
Presumably much of that is due to the 60% drop in European gas prices since December and relief that the worst fears of an energy crunch have not come about, even if it has turned a bit colder in recent days. This has combined with some hawkish words from ECB Governing Council member Knot to lift the euro to a fresh nine-month high at $1.0903 and challenge the April spike top at $1.0936. Knot is considered a card-carrying member of the ECB hawk club, which was clearly irked by recent reports that the central bank might step down to quarter-point hikes in March.
The head of Suntory Holdings Ltd, Takeshi Niinami, said on Tuesday he expected the next governor of the Bank of Japan (BOJ) to show a clear policy roadmap, including criteria for ending its practice of controlling both long- and short-term interest rates. Niinami, an influential leader who is expected to become the next chairman of business lobby Keizai Doyukai in April, also said he wanted to keep lifting wages for Suntory employees while the cost of living kept rising – not just to support their living standards but also to activate economic growth led by the private sector. With the end of the term of current BOJ governor Haruhiko Kuroda coming up in April, Japanese business managers and investors are focused on the course of monetary policy to be adopted by his successor.
In a historic situation never seen before since the Fédération québécoise des professeures et professeurs d'université (FQPPU) was founded in 1991, 12 of its member unions throughout Quebec are currently in negotiations or will be very shortly.
January is coming to an end. Which three growth stocks should investors be looking to add to their portfolios today? The post 3 Underappreciated Growth Stocks to Buy in January 2023 appeared first on The Motley Fool Canada.
Australian diversified miner South32 Ltd on Monday reported production of key commodities that largely met expectations but noted that shipping snarls had led to an inventory buildup, impacting working capital. In its quarterly report, South32 met coal, aluminium and copper forecasts and slightly exceeded analyst estimates for manganese ore production, for which it is the world's biggest producer. "While production was inline, sales were impacted, leading to weaker-than-expected cash generation," said analyst Glyn Lawcock of Barrenjoey in Sydney.
(Reuters) – 3M Co said on Tuesday it would cut 2,500 manufacturing jobs and forecast a gloomy first-quarter as the U.S. industrial conglomerate struggles with slowing demand for consumer and electronic items. The downbeat outlook and quarterly results pile more pain on the company, at a time it faces separate lawsuits related to defective earplugs and its use of "forever chemicals", which 3M said in December it plans to discontinue. 3M shares fell 4.7% as it joined other industrial majors General Electric Co and Raytheon Technologies Corp in flagging a hit from inflation in 2023.
The global auto industry has committed $1.2 trillion to developing electric vehicles (EVs), providing a golden opportunity for new suppliers to grab contracts providing everything from battery packs to motors and inverters. Startups specialising in batteries and coatings to protect EV parts, and suppliers traditionally focused on niche motorsports or Formula One (F1) racing, have been chasing EV contracts. The next generation of EVs is due to hit around 2025 and many carmakers have sought help plugging gaps in their expertise, providing a window of opportunity for new suppliers.
Amazon is adding a prescription drug discount program to its growing health care business. The retail giant said Tuesday that it will launch RxPass, a subscription service for customers who have Prime memberships. Amazon said people will pay $5 a month to fill as many prescriptions as they need from a list of about 50 generic medications, which are generally cheaper versions of brand-name drugs. The company said the flat fee could cover a list of medications like the antibiotic amoxicillin and t
BRUSSELS/AMSTERDAM (Reuters) -The European Union's gas price cap, which launches next month, could impact financial stability and potentially curb liquidity in Europe's exchange-traded gas markets, the bloc's financial and energy market regulators said on Monday. EU countries agreed in December to a gas price cap that, from Feb. 15, will kick in if benchmark Title Transfer Facility (TTF) gas hub prices spike – a long-debated policy designed to avoid the record-high prices Europe faced last year after Russia slashed gas deliveries. In a report published on Monday, the European Securities and Markets Authority (ESMA) said that if gas prices edge towards the level that would trigger the cap, market participants are likely to change their behaviour to avoid triggering it, or to prepare for it.
TRAVERSE CITY, Mich. (AP) — The U.S. Environmental Protection Agency says it will study whether to toughen regulation of large livestock farms that release manure and other pollutants into waterways. EPA has not revised its rules dealing with the nation's largest animal operations — which hold thousands of hogs, chickens and cattle — since 2008. The agency said in 2021 it planned no changes but announced Friday it had reconsidered in response to an environmental group's lawsuit. While not commit
An OPEC+ panel is likely to endorse the producer group's current oil output policy when it meets next week, five OPEC+ sources said on Tuesday, as hopes of higher Chinese demand driving an oil price rally are balanced by worries over inflation and a global economic slowdown. Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known collectively as OPEC+, meet virtually on Feb. 1. The panel, called the Joint Ministerial Monitoring Committee (JMMC), can call for a full OPEC+ meeting if warranted.
LONDON (AP) — U.K. Prime Minister Rishi Sunak opened an investigation Monday into allegations that the chairman of the governing Conservative Party settled a multimillion-dollar unpaid tax bill while he was in charge of the country’s Treasury. It’s one of multiple stories about secret loans and unpaid taxes causing discomfort for Sunak, who has faced scrutiny for his own personal wealth and family tax arrangements. Party chairman Nadhim Zahawi has acknowledged a dispute with tax authorities over
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