US Business

Corn eases from 4-week top on U.S. harvest pace; wheat slips

04h58 Chicago corn slid on Tuesday, easing from a four-week high scaled in the previous session, as a rapid U.S. harvest put pressure on prices.. . .  Full story

Ford, SK to invest $11.4 bln to add electric F-150 plant, three battery factories

04h08 Ford Motor Co and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker's push into. . .  Full story

Gaming company Kepler raises $120 mln from China's NetEase

04h00 Kepler Interactive, a game publisher co-owned and run by developers, on Tuesday said it got $120 million in funding from Chinese gaming firm NetEase Inc .. . .  Full story

Competition, chips, AI on table at first U.S.-EU trade and tech meet

03h47 The United States and the European Union hope to discuss chip shortages, artificial intelligence (AI) and tech competition issues during the first Trade and Tech Council (TTC) meeting this week, senior U.S. administration officials said. . .  Full story

Goldman cuts China GDP growth forecast on energy supply crunch

02h27 Goldman Sachs has cut China's economic growth forecast for 2021 to 7.8%, from 8.2%, as energy shortages and deep industrial output cuts add "significant downside pressures", it said in a note on Tuesday.. . .  Full story

Morgan Stanley Asia veteran Christianson retires - memo

02h27 Morgan Stanley's Asia Pacific co-chief executive Wei Sun Christianson will retire from the bank after nearly two decades at the end of 2021, according to a memo reviewed by Reuters.. . .  Full story

CME hog futures surge on bullish USDA data; cattle futures sag

01h26 Chicago Mercantile Exchange (CME) lean hog futures soared on Monday, with the most-active December contract rising its daily limit after a quarterly U.S. Department of Agriculture report showed a smaller-than-expected U.S. hog herd.. . .  Full story

New York hospitals fire, suspend staff who refuse COVID vaccine

01h08 New York hospitals on Monday began firing or suspending healthcare workers for defying a state order to get the COVID-19 vaccine, and resulting staff shortages prompted some hospitals to postpone elective surgeries or curtail services.. . .  Full story

U.S. appeals court rules New York City can order teachers, staff to get COVID vaccine

01h03 A federal appeals court on Monday ruled that New York City can order all teachers and staff to get the COVID-19 vaccine, reversing a previous decision that had put the mandate on hold. (Reporting by. . .  Full story

Aurora Cannabis revenue falls short of expectations on lower pot demand

01h02 Aurora Cannabis Inc on Monday missed Wall Street expectations for fourth-quarter revenue as pandemic-related restrictions weighed down consumer demand, leading Canadian provinces to cut orders.. . .  Full story

Fed resignations don't blunt calls for broader ethics changes

00h52 U.S. consumer and public interest groups on Monday kept up the pressure on Federal Reserve Chair Jerome Powell to impose stricter ethics rules on Fed officials, after two Fed bank presidents resigned because of controversial. . .  Full story

Alternative asset manager P10 files for U.S. IPO

00h04 P10 Inc, the holding company of investment firm P10 Holdings Inc, on Monday filed for an IPO in the United States, becoming the latest alternative asset manager exploring a public listing as shares of. . .  Full story

Shift to EVs means huge 'reskilling' job for Europe - report

00h01 The shift to electric vehicles will force huge changes in the auto industry and require EU backing for 'reskilling' programs to help workers prepare for a zero-emission future, according to a report published on Tuesday.. . .  Full story

Canada seeks to attract U.S. frequent flyers with perks on Air Canada

00h00 Canada is trying to use the lure of travel perks to convince America's frequent-flying elite to fly north on Air Canada, as the country steps up efforts to revive crucial traffic from the United. . .  Full story

U.S. environment agency urged by 21 states to toughen vehicle emissions rewrite

27/09 A group of 21 state attorneys general, the District of Columbia, and several major U.S. cities urged the Biden administration to finalize significantly stricter vehicle emissions rules than it has proposed.. . .  Full story

Fed will allow labor markets to 'run their course': Bostic

27/09 Atlanta Federal Reserve Bank President Raphael Bostic on Monday reiterated the U.S. central bank's commitment to making sure every American who wants a job can have one.. . .  Full story

GM backs vehicle emissions reductions goals in EPA proposal

27/09 General Motors supports the emission reduction goals in the proposed rewrite of vehicle standards through 2026 issued by the U.S. Environmental Protection Agency last month, according to written comments the automaker filed with the EPA. . .  Full story

Fed's Powell: Reopening economic bottlenecks could be "more enduring"

27/09 The higher prices and hiring difficulties seen as the U.S. economy reopens from the pandemic could prove "more enduring than anticipated," and the Federal Reserve would move against unchecked inflation if needed, Fed Chair Jerome. . .  Full story

UFC-owner Endeavor to buy sports betting firm OpenBet for $1.2 bln

27/09 Endeavor Group Holdings Inc, the owner of the Ultimate Fighting Championship, will buy sports betting firm OpenBet from Scientific Games Corp for $1.2 billion in cash and stock, the companies said on Monday.. . .  Full story

Toronto market rises as energy shares reach 3-month high

27/09 Canada's main stock index rose on Monday as a rally in oil prices lifted the energy sector to the highest level in nearly three months, while financials gained ground as bond yields rose.. . .  Full story

PennEast becomes the latest to scuttle a natural gas pipeline project

27/09 PennEast Pipeline said on Monday it would stop developing a proposed pipeline from Pennsylvania to New Jersey, the latest in a series of natural gas lines to run aground due to legal and regulatory. . .  Full story

New York hospitals face staff shortages as vaccine mandate kicks in

27/09 New York hospitals were preparing to fire thousands of healthcare workers for not complying with a COVID-19 vaccine mandate taking effect on Monday, with some in the upstate region curtailing services to cope with staff. . .  Full story

Aurora Cannabis posts smaller core loss on higher pot demand, cost cuts

27/09 Aurora Cannabis Inc, reported a smaller fourth-quarter core loss on Monday, as the pot producer benefited from aggressive cost-cut measures and higher demand for cannabis and related products.. . .  Full story

Warburg, Ontario Teachers consider sale of Chisholm Energy -sources

27/09 Warburg Pincus and the Ontario Teachers' Pension Plan (OTPP) are exploring a sale of Chisholm Energy, an oil and gas exploration and production company focused on the Permian basin, people familiar with the matter. . .  Full story

Brazil's Abitrigo says millers won't buy GMO wheat from Argentina

27/09 Brazilian domestic flour millers are threatening to stop buying wheat from Argentina if Brazil commercially approves GMO wheat imports from the neighboring country, Rubens Barbosa, head of the Brazilian Wheat Industry Association (Abitrigo), said on. . .  Full story

Tech pulls Nasdaq, S&P 500 down as Treasury yields rise

27/09 The S&P 500 and Nasdaq indexes ended lower on Monday with investors pivoting to value as tech shares, hurt by rising Treasury yields, weighed on equities in the quarter's final week.. . .  Full story

Ready to taper or waiting for more data? Recent Fed officials' comments

27/09 The Federal Reserve has said it will start to reduce its bond purchases as soon as November if the economy continues on its current track.. . .  Full story

Fed's Kaplan to leave job Oct. 8, citing trading activities

27/09 Dallas Federal Reserve Bank President Robert Kaplan on Monday said he will leave his job on Oct. 8 to eliminate any "distraction" to the central bank related to his personal investment activities.. . .  Full story

Citigroup appoints former U.S. Treasury official as general counsel - memo

27/09 Citigroup Inc has named former U.S. Treasury official Brent McIntosh as its new general counsel and corporate secretary, Chief Executive Officer Jane Fraser wrote in a memo to employees on Monday.. . .  Full story

Restaurant chain Portillo's reveals revenue jump in IPO filing

27/09 Portillo's Inc, a restaurant chain known for its Chicago-style hot dogs, on Monday made public its filing for a U.S. stock market listing, revealing a nearly 19% jump in revenue for the two quarters. . .  Full story

CAA to buy rival ICM Partners in merger of major Hollywood talent agencies

27/09 Creative Artists Agency (CAA) said on Monday it would buy rival ICM Partners, in a deal that will merge two major Hollywood talent agencies.. . .  Full story

Israeli PM says Iran has crossed nuclear 'red lines'; Tehran calls it 'full of lies'

27/09 Israeli Prime Minister Naftali Bennett said on Monday that Iran had crossed "all red lines" in its nuclear program and vowed that Israel would not allow Tehran to acquire a nuclear weapon.. . .  Full story

Corn futures up 2% on firm cash markets; soy firm, wheat choppy

27/09 U.S. corn futures rose about 2% on Monday, rallying from early declines on support from tight domestic cash markets and spillover strength from crude oil futures, analysts said.. . .  Full story

Fed's highest priority is to get people back to work: Kashkari

27/09 The Federal Reserve's "highest priority" is to make sure millions of Americans now out of a job can get back to work, Minneapolis Federal Reserve Bank President Neel Kashkari said in a speech taped. . .  Full story

Canada's clean energy lobby groups call for changes to draft Clean Fuel Standard

27/09 One of Canada's flagship pieces of climate regulation has run into criticism from clean fuel lobby groups as Prime Minister Justin Trudeau prepares to start his third term in office, with. . .  Full story

Fed officials: Bond taper still hinges on continued job growth

27/09 U.S. Federal Reserve officials including one influential board member on Monday tied reduction in the Fed's monthly bond purchases to continued job growth, with a September employment report now a potential trigger for the central. . .  Full story

Facebook invests $50 mln to build the 'metaverse' in responsible manner

27/09 Facebook Inc will invest $50 million to partner with organizations to responsibly build the so-called metaverse - a digital world where people can use different devices to move and communicate in a virtual environ. . .  Full story

Fed's Brainard: U.S. still "a bit short" of jobs mark for bond taper

27/09 U.S. employment is "still a bit short of the mark" for the Federal Reserve to begin reducing its monthly bond purchases, Fed Governor Lael Brainard said on Monday in remarks highlighting the risk that. . .  Full story

Telefonica to migrate systems onto cloud in deal with Oracle

27/09 Spain's Telefonica signed a multi-year deal with cloud-service provider Oracle to migrate most of its database systems to the cloud, the firms said on Monday, in preparation for the use of 5G and the Internet. . .  Full story

Fed's Evans sees 2.4% inflation in 2024, 'gentle incline' in rates

27/09 Chicago Federal Reserve Bank President Charles Evans on Monday said he expects inflation to rise to 2.4% by 2024 but interest rates to be only on a "gentle incline" upward, a view that contrasts. . .  Full story

Strong U.S. business spending on equipment seen underpinning GDP growth in Q3

27/09 New orders and shipments of key U.S.-made capital goods increased solidly in August amid strong demand for computers and electronic products, keeping business spending on equipment on track for another quarter of robust growth.. . .  Full story

Ferrari, parent Exor clinch alliance with former Apple designer Jony Ive

27/09 Italian luxury car maker Ferrari and its parent company Exor, the holding vehicle of the Agnelli family, are joining forces with with Jony Ive, the creative mind behind many of Apple's iconic products, and. . .  Full story

UN development arm launches disaster insurance programme

27/09 The United Nations Development Programme has launched an initiative to help governments and the private sector in developing countries provide insurance for crises such as pandemics and natural catastrophes, it said on Monday.. . .  Full story

VW to pay $1.5 million to settle New Hampshire, Montana diesel claims

27/09 Volkswagen AG on Monday said it has agreed to pay $1.5 million to settle environmental claims with the states of New Hampshire and Montana over updates of emissions software arising from the 2015 diesel. . .  Full story

France's Roquette warns of price rise in plant-based food market

27/09 A global surge in pea prices linked to low supplies and growing demand for plant protein will inevitably need to be passed on to customers, including makers of alternative food such as meat-free burgers,. . .  Full story

EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC

27/09 Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20. . .  Full story

Bahrain abolishes NOGA, oil ministry to take over functions

27/09 Bahrain's king issued a royal decree on Monday abolishing the National Oil and Gas Authority (NOGA), with all its functions to be undertaken by the oil ministry, the state-run Bahrain News Agency said.. . .  Full story

Fed's Evans sees taper close, expects rate hike in 2023

27/09 The U.S. economy will soon meet the Federal Reserve's bar for beginning to reduce its bond purchase program, Chicago Fed President Charles Evans said on Monday, but it will be late 2023 before an. . .  Full story

Blackstone to sell The Cosmopolitan resort and casino for $5.65 billion

27/09 Blackstone Inc said on Monday it would sell its The Cosmopolitan of Las Vegas resort and casino for $5.65 billion.. . .  Full story

Fed's Evans sees U.S. unemployment heading below 4% before long

27/09 Chicago Federal Reserve Bank President Charles Evans on Monday said he expects U.S. unemployment to fall below 4% "before too long," but even a drop to 3.5% would likely not be enough to drive. . .  Full story

Let's reform not ruin the WTO, EU trade chief urges U.S.

27/09 The United States needs to work with the European Union to reform the World Trade Organization rather than let it decline through neglect, the EU trade chief said on Monday,. . .  Full story

U.S. core capital goods orders rise solidly in August

27/09 New orders for key U.S.-made capital goods increased solidly in August, keeping business spending on equipment on track for another quarter of strong growth.. . .  Full story

NordicTrack-owner iFIT targets valuation of nearly $7 bln in U.S. IPO

27/09 IFIT Health & Fitness Inc is looking to raise as much as $646.15 million through an initial public offering in the U.S., valuing the owner of the NordicTrack fitness brand at $6.61 billion, according. . .  Full story

Asia Distillates-Gasoil cash premiums rise, cracks gain further

27/09 Asia's cash premiums for 10 ppm inched higher on Monday, holding close to a multi-month high touched last week, buoyed by tighter regional supplies and expectations for a gradual recovery in demand in. . .  Full story

What happens when the U.S. federal government shuts down?

27/09 Washington is racing to avert a partial government shutdown that could lead to furloughs for hundreds of thousands of federal workers in the middle of a national health crisis.. . .  Full story

AI navigation startup Phiar lands ex-Google manager, funding from Telenav

27/09 Phiar, a startup aiming to enhance in-car navigation systems by overlaying directions on real-time video, announced on Monday that Google's head of Android automotive platforms joined as chief executive and State Farm Ventures led a. . .  Full story

Israel's Bennett meets UAE, Bahrain ministers ahead of UN address

27/09 Israeli Prime Minister Naftali Bennett met senior ministers from the United Arab Emirates and Bahrain in New York on Sunday, his office said, ahead of an address to the United Nations in which he. . .  Full story

Vitol CEO roots for WTI crude to be added in dated Brent benchmark

27/09 The head of world's largest independent oil trader Vitol said on Monday that the company would prefer U.S. West Texas Intermediate (WTI) Midland crude to be added to the North Sea dated Brent benchmark. . .  Full story

Messaging platform Signal 'fully back up', resolves hosting outage

27/09 Encrypted instant messaging platform Signal said on Monday it had fully resolved issues, after multiple users were affected by a hosting outage.. . .  Full story

Some Apple, Tesla suppliers suspend production in China amid power pinch

27/09 Several Apple Inc and Tesla Inc suppliers have suspended production at some Chinese factories for a number of days to comply with tighter energy consumption policies, putting supply chains at risk in the peak season. . .  Full story

HSBC shares climb in Hong Kong as release of Huawei exec seen easing tensions

27/09 Hong Kong-listed shares of HSBC rose by the most in four months on Monday as the release of an executive at telecoms company Huawei fuelled hopes the global bank would benefit from an easing. . .  Full story

China's CNOOC seeks to raise $5.4 bln on Shanghai bourse to fund projects

27/09 China's state-run offshore oil and gas major CNOOC Ltd said it plans to raise up to 35 billion yuan ($5.41 billion) in a new share issue on the Shanghai stock exchange to fund several. . .  Full story

China's green car credit system to be replaced as country pursues carbon neutrality

27/09 China may replace its green car credit system with a new policy focusing more broadly on reducing carbon emissions, industry executives say.. . .  Full story

Platts to launch carbon offset premiums for 14 major crude oil fields from Oct 1

27/09 Carbon emissions released during the process of producing crude oil from Canada's Cold Lake, Iraq's Kirkuk and the U.S. Bakken shale fields will cost producers the most to offset, said global commodities agency S&P Global. . .  Full story

China's biggest air show to display self-sufficiency drive, military prowess

27/09 China's drive for self-sufficiency in aerospace and its growing military prowess will be on display at the country's largest air show this week, in an event set against the backdrop of the coronavirus pandemic and. . .  Full story

EU says U.S. trade, tech council to boost its clout, set rules for 21st century

26/09 The U.S.-EU Trade and Technology Council (TTC) will give Europe more clout and set standards and rules for the 21st century, the EU's trade and digital chiefs said, underscoring global concerns about China's growing power.. . .  Full story

Wall St Week Ahead-Fed's coming taper fans talk of renewed 'reflation' trade

26/09 The Federal Reserve’s signal that it will soon unwind its bond buying program is bolstering the case in financial markets for the so-called reflation trade, which lifted Treasury yields and boosted shares of banks,. . .  Full story

Deputy chief of Russia's Novatek says he will fight US tax charges

26/09 Mark Gyetvay, a deputy chief of Russian natural gas producer Novatek, who was arrested last week in the United States on tax charges, said on social media on Sunday that he had pleaded not. . .  Full story

China welcomes Huawei executive home, Trudeau hugs Canadians freed by Beijing

25/09 Huawei Chief Financial Officer Meng Wanzhou arrived in China on Saturday, ending her near three-year U.S. extradition fight, the same day two Canadians detained by Beijing for more than 1,000 days returned home, potentially paving. . .  Full story

Huawei's Meng arrives in Shenzhen after release from Canada

25/09 Meng Wanzhou, chief financial officer of Chinese telecoms giant Huawei, landed in Shenzhen on Saturday evening after more than 1,000 days under house arrest in Canada.. . .  Full story

China foreign ministry says accusations against Huawei's Meng 'fabricated' - state media

25/09 Accusations against China tech giant Huawei's chief financial officer Meng Wanzhou have been "fabricated" and were aimed at suppressing the country's high-tech industries, state media said on Saturday, citing foreign ministry spokeswoman Hua Chunying.. . .  Full story

Under U.S. sanctions, Iran and Venezuela strike oil export deal - sources

25/09 Venezuela has agreed to a key contract to swap its heavy oil for Iranian condensate that it can use to improve the quality of its tar-like crude, with the first cargoes due this week,. . .  Full story

China welcomes Huawei executive home, but silent on freed Canadians

25/09 Chinese state media welcomed telecoms giant Huawei's chief financial officer, Meng Wanzhou, back to the "motherland" on Saturday, after more than 1,000 days under house arrest in Canada, on what they called unfounded charges of. . .  Full story

Quad nations to focus on clean-energy supply chain, says Australia PM

25/09 The United States, Japan, India and Australia will work to improve the security of supply chains for critical technologies such as clean energy and to ease a global semiconductor shortage, said Australia's Prime Minister. . .  Full story

-White House says millions of government contractors must be vaccinated by Dec. 8

25/09 The White House said on Friday that millions of federal contractors must be vaccinated against COVID-19 by Dec. 8 and that the administration will add clauses to future government contracts mandating inoculations.. . .  Full story

IMF's Georgieva accuses former World Bank President Kim's office of manipulation

25/09 IMF chief Kristalina Georgieva criticized as "false and spurious" the findings of an independent probe into allegations that as World Bank head she pressured staff to manipulate data to make China's business climate appear more. . .  Full story

U.S. SEC delays certain assets from enforcement actions under new disclosure rule

25/09 The U.S. Securities and Exchange Commission (SEC) said on Friday that it would delay enforcement of certain assets from a new disclosure rule for off-exchange securities until Jan. 3, 2022.. . .  Full story

White House says millions of government contractors must be vaccinated by Dec. 8

24/09 The White House said on Friday that millions of federal contractors must be vaccinated against COVID-19 by Dec. 8 and that the administration will add clauses to future government contracts mandating inoculations.. . .  Full story

CME lean hogs rise, live cattle slip ahead of USDA reports

24/09 Chicago Mercantile Exchange (CME) lean hog futures climbed on Friday, largely supported by positioning ahead of a key hog inventory report issued by the U.S. Department of Agriculture (USDA) after the close, analysts said.. . .  Full story

Dow, S&P 500 end with gains up after bumpy week, but Nike drags

24/09 The Dow and S&P 500 edged higher on Friday and ended a turbulent week with slight increases, helped by gains in Tesla and Facebook that offset a tumble by Nike.. . .  Full story

U.S. probes security impact of importing magnets used in fighter jets, missiles

24/09 The Biden administration will investigate the possible national security risks of over-relying on imports of certain magnets used in fighter aircraft and missile guidance systems as part of a global supply chain review, the Commerce. . .  Full story

Two Fed policymakers say bar for taper met, nod to next debates

24/09 A pair of Federal Reserve policymakers on Friday said they felt the U.S. economy is already in good enough shape for the central bank to begin to withdraw support for the economy, setting up. . .  Full story

Wheat finds two-week high on strong global demand

24/09 Chicago wheat futures firmed on Friday, ending near a two-week high as the market assessed mixed global production prospects Wvand brisk import demand.. . .  Full story

U.S. yields rise on potential rate hike in 2022

24/09 U.S. Treasury yields jumped again on Friday as a repricing of portfolios continues in the wake of the Federal Reserve's decision to soon begin tapering its massive bond purchases, a move that could lead. . .  Full story

IMF's Georgieva accuses former World Bank president Kim's office of manipulation

24/09 IMF chief Kristalina Georgieva on Friday blasted an independent report on her alleged role in a China-related data-rigging scandal while at the World Bank, saying it contained "fundamental errors" and substituted innuendo for facts.. . .  Full story

U.S. Treasury's Yellen cites need for compromise on digital service taxes in call with French counterpart

24/09 U.S. Treasury Secretary Janet Yellen, in a call on Friday with French Finance Minister Bruno Le Maire, stressed the importance of reaching a compromise on the withdrawal of digital services taxes, the Treasury Department said. . .  Full story

SoftBank-backed Banco Inter and StoneCo in talks on potential merger -source

24/09 SoftBank-backed digital lender Banco Inter SA and payments company StoneCo Ltd are in preliminary talks to expand a current partnership agreement, including a potential merger, one source familiar with the matter said.. . .  Full story

Sri Lanka to cease building coal-fired plants, aims to be net-zero emitter by 2050

24/09 Sri Lanka will cease building new coal-fired power plants and achieve net-zero carbon emissions by 2050, President Gotabaya Rajapaksa said in an address to the United Nations International Energy Forum on Friday.. . .  Full story

Shares in Russia's Novatek recover from fall after executive's U.S. arrest

24/09 Shares in Russia's Novatek recovered from an early tumble on Friday after the arrest in the United States of its deputy head, Mark Gyetvay, viewed by analysts as a key figure in investor relations. . .  Full story

Evergrande misses payment deadline, EV unit warns of cash crunch

24/09 China Evergrande's electric car unit warned on Friday it faced an uncertain future unless it got a swift injection of cash, the clearest sign yet that the property developer's liquidity crisis is worsening in other. . .  Full story

Clearwater Analytics valued at over $5 bln after stellar NYSE debut

24/09 Clearwater Analytics Holdings Inc was valued at about $5.5 billion after a blockbuster stock market debut on Friday, in which its shares jumped over 30%, capping a successful week for initial public offerings of tech. . .  Full story

U.S. drillers add oil and gas rigs for 14th month in a row -Baker Hughes

24/09 U.S. energy firms this week added oil and natural gas rigs for a 14th month in a row as more offshore units in the Gulf of Mexico returned to service after shutting when Hurricane. . .  Full story

U.S. new home sales beat expectations; supply near 13-year high

24/09 Sales of new U.S. single-family homes increased for a second straight month in August, but demand for housing has probably peaked after a COVID-19 pandemic-fueled buying frenzy.. . .  Full story

Fed officials, readying for taper, hear from small businesses and community groups

24/09 Days after reaching broad consensus that labor markets have healed enough for the Federal Reserve to soon begin withdrawing support, Fed Chair Jerome Powell on Friday heard from a broad range of economic players. . .  Full story