Attacks on Saudi Oil Field Knock Out Half of Its Output
2019-09-15 07:21:05 UTC
RIYADH/DUBAI/LONDON (Reuters) - Yemen’s Iran-aligned Houthi group said it attacked two plants at the heart of Saudi Arabia’s oil industry on Saturday, knocking out more than half the Kingdom’s output, in a move expected to send oil prices soaring and increase tensions in the Middle East.
The attacks will cut the kingdom’s output by 5.7 million barrels per day (bpd), according to a statement from state-run oil company Saudi Aramco, or more than 5% of global oil supply.
The pre-dawn strikes follow earlier cross-border attacks on Saudi oil installations and on oil tankers in Gulf waters, but these were the most brazen yet, temporarily c...
Recession Fears Escalate
2019-08-14 19:02:04 UTC
NEW YORK (Reuters) - Wall Street stumbled on Wednesday as investors fled equities for safe-haven assets, seeking shelter amid gathering signs that a recession could be on the horizon.
All three major U.S. indexes were sharply lower as short- and long-dated Treasury yields inverted for the first time in 12 years, a potential signal of imminent recession.
Elsewhere, ominous indicators suggested a faltering global economy, hobbled by the intensifying U.S.-China trade war, Brexit jitters and geopolitical concerns. Germany reported a contraction in second-quarter GDP, and China’s industrial growth in July hit a 17-year low.
Russia Asks Google to Stop Advertising “Illegal Mass Events”
2019-08-11 16:07:42 UTC
MOSCOW (Reuters) - Russia’s state communications watchdog said on Sunday it had asked Google to stop advertising “illegal mass events” on its YouTube video platform.
Tens of thousands of Russians staged what observers called the country’s biggest political protest for eight years on Saturday, defying a crackdown to demand free elections to Moscow’s city legislature.
The watchdog, Roscomnadzor, said Russia would consider it interference in its sovereign affairs and a hostile influence should Google fails to respond to the request.
<I>Reporting by Andrey Ostroukh; Editing by Janet Lawrence</I>
No-Deal Brexit Would Cause Severe Damage to UK
2019-07-29 03:42:16 UTC
A no-deal Brexit would cause “severe” damage to UK businesses, according to the Confederation of British Industry (CBI).
Carolyn Fairbairn, director general of the lobby group, told BBC that quitting the EU without an agreement should be an option “that is not even considered”. Claims that firms are ready for a no-deal scenario are “just not true”, she added.
<blockquote><img alt="No-deal_brexit_would_cause_severe_damage_to_uk" src="/system/images/22503/original/No-Deal_Brexit_Would_Cause_Severe_Damage_to_UK.jpg?1564271696" /><i>
Carolyn Fairbairn is director-general of the Confederation of British Industry - CBI - and former non-ex...
Steve Jobs Design Chief to Start Own Firm
2019-06-28 00:58:11 UTC
(Reuters) - Jony Ive, a close creative collaborator with Apple Inc co-founder Steve Jobs whose iPhone and other designs fueled Apple’s rise to become a $1 trillion company, will leave later this year to form an independent design company.
Apple said Ive will continue work on its products at his new venture, but shares fell as much as 1.5% to $197.44 in after-market trading, wiping about $9 billion from the firm’s value.
Ive spent nearly three decades at Apple, playing a leading role in the design of the candy-colored iMacs that helped Apple re-emerge from near death in the 1990s to the iPhone, regarded by many business experts as one...
Euro Hits Three-Month High Against US Dollar
2019-06-24 04:00:44 UTC
TOKYO (Reuters) - The euro rose to a three-month high against the dollar on Monday, as bearish bets on the U.S. currency remained solid on prospects of a near-term interest rate cut by the Federal Reserve.
The euro stretched its rally last week, up 1.4%, and advanced about 0.15% to $1.1386 in early Asian trade, its highest since March 22.
The dollar index versus a basket of six major currencies was a shade lower at 96.135, having struck 96.093 on Friday, its lowest since March 21, after the Fed last week opened the door for a potential rate cut as early as next month.
That weighed on the dollar and in turn reinvigorated its counte...
US Weekly Jobless Claims Rise; Imported Inflation Weak
2019-06-13 18:19:18 UTC
WASHINGTON (Reuters) - The number of Americans filing applications for unemployment benefits unexpectedly rose last week, which could add to concerns that the labor market was losing steam after job growth slowed sharply in May.
Other data on Thursday showed import prices fell by the most in five months in May amid a broad decline in the cost of goods, the latest indication of muted inflation pressures. The import deflation supports expectations that the Federal Reserve will cut interest rates this year.
U.S. central bank policymakers are scheduled to meet on June 18-19 against the backdrop of rising trade tensions. Financial markets...
Hunt for Shoppers: Luxury Brands Raising Stakes on Instagram
2019-06-07 16:10:35 UTC
PARIS (Reuters) - Big-spending luxury brands like Gucci, Louis Vuitton and Christian Dior are splashing out on everything from dance-fuelled fashion shows to teams of advisers as they target social media platforms in the hunt for young shoppers.
Without the entry barriers of magazine advertising - where a one page glossy ad can cost tens of thousands of dollars - sites like Instagram, a fashionista favorite, have allowed unknown labels to find an audience with canny or eye-catching campaigns.
But big bucks are changing the game as cash rich luxury goods groups like LVMH and Kering hike their social media budgets, giving them vast mea...
Toyota Speeds Up Electric Vehicle Schedule
2019-06-07 15:52:16 UTC
TOKYO (Reuters) - Toyota Motor Corp aims to get half of its global sales from electrified vehicles by 2025, five years ahead of schedule, and will tap Chinese battery makers to meet the accelerated global shift to electricity-powered cars.
The change illustrates the breakneck growth in the electric vehicle (EV) market, which is transforming the auto industry, and is also an acknowledgment by Japan’s top car maker that it may not be able to meet demand for batteries on its own.
Toyota is now faced with a higher-than-expected demand for cars that use batteries, rather than gasoline, Executive Vice President Shigeki Terashi told a brief...
Apple wants its login button above Google and Facebook
2019-06-05 05:23:38 UTC
(Reuters) - Apple Inc will ask developers to position a new “Sign on with Apple” button in iPhone and iPad apps above rival buttons from Alphabet Inc’s Google and Facebook Inc, according to design guidelines released this week.
The move to give Apple prime placement is significant because users often select the default or top option on apps. And Apple will require apps to offer its button if they want to offer options to login with Facebook or Google.
Apple unveiled its login button on Monday, emphasizing users’ privacy and also introducing a feature that randomly generates an email address to avoid revealing the person’s true email....
Elon Musk Says Tesla deliveries Set to Top Record
2019-05-23 15:41:53 UTC
(Reuters) - Tesla Inc is on course to top its record for quarterly deliveries in the second quarter, beating the 90,700 it sent to customers in the final quarter of last year, according to an email from Chief Executive Officer Elon Musk to staff.
Musk’s email, widely posted on social media and authenticated for Reuters by a source familiar with the matter, also said the company had on average produced 900 Model 3 cars per day this week, bringing it closer to a target of 7,000 per week.
Demand for the Model 3 sedan and Tesla’s other cars has moved to the top of investors’ list of concerns around the company after it reported slack fir...
Dutchman Travels Across 33 Countries on Electric Car
2019-04-18 22:49:36 UTC
Dutchman Wiebe Wakker on Sunday ended a 95,000 kilometer (59,000 mile) electric car journey that he hoped would show the world the viability of such vehicles.
Wakker arrived in the eastern Australian city of Sydney after driving his retrofitted station wagon nicknamed "The Blue Bandit" across 33 countries including Turkey, Iran, India, Myanmar, Malaysia and Indonesia, with the route determined by the offers he received on his website.
The trip started in the Netherlands and took just over three years. It was funded by public donations from around the globe, including electricity to charge the "Bandit," food and accommodation.
Restaurant Dishes Labeled Gluten-Free Often Are Not
2019-04-02 22:07:57 UTC
For people with celiac disease, even tiny amounts of gluten in foods can cause trouble, and restaurants may be the hardest places to avoid the hidden protein, a U.S. study suggests.
More than half of gluten-free pizza and pasta dishes tested in restaurants were positive for the presence of gluten, and overall, about one third of supposedly gluten-free foods had some gluten, researchers report in the American Journal of Gastroenterology.
“The long-suspected problem of gluten contamination in restaurant foods that has been reported by patients likely has some truth behind it,” said senior study author Dr. Benjamin Lebwohl, director of ...
Oil Prices Continue to Rise Amid OPEC-Led Supply Cuts
2019-04-02 21:38:57 UTC
NEW YORK (Reuters) - Oil prices on Tuesday hit their highest level so far in 2019, with Brent crude approaching $70 a barrel, on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut.
Brent futures reached a session peak at $69.52 a barrel, the highest since Nov. 13. The global benchmark rose 36 cents, or 0.52 percent, to settle at $69.37 a barrel.
U.S. West Texas Intermediate (WTI) crude rose 99 cents, or 1.61 percent, to settle at $62.58 a barrel, after touching $62.75, its highest level since Nov. 7.
The United States is considering more sanctions against Iran, the ...
Brexit: EU Prepares For a 'No-Deal' Scenario
2019-03-29 20:39:59 UTC
Theresa May's exit deal failed by 58 votes, and April 12 beckons as a new exit date for the UK out of the EU. More indicative votes are on the table, as the EU prepares for a 'no-deal' scenario.
LONDON (Reuters) - Lawmakers rejected Prime Minister Theresa May’s Brexit deal for a third time on Friday, sounding its probable death knell and leaving Britain’s withdrawal from the European Union in turmoil on the very day it was supposed to quit the bloc.
The decision to reject a stripped-down version of May’s divorce deal has left it totally unclear how, when or even whether Britain will leave the EU, and plunges the three-year Brexit cri...
U.S. Judge Approves Bankruptcy Loan for PG&E
2019-03-27 18:31:51 UTC
SAN FRANCISCO (Reuters) - Bankrupt California power provider PG&E Corp won court approval on Wednesday for a $5.5 billion loan to help maintain electricity and natural gas delivery and for investments to reduce the risk of wildfires as it reorganizes.
San Francisco-based PG&E filed for Chapter 11 bankruptcy protection in January in the aftermath of devastating wildfires that struck California in recent years, some linked or suspected to be linked to the company’s equipment.
Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco approved the debtor-in-possession loan over objections of a committee representing victims of w...
Chinese Company to Sell Popular Dating App Grindr
2019-03-27 17:54:06 UTC
(Reuters) - Chinese gaming company Beijing Kunlun Tech Co Ltd is seeking to sell Grindr LLC, the popular gay dating app it has owned since 2016, after a U.S. government national security panel raised concerns about its ownership, according to people familiar with the matter.
The Committee on Foreign Investment in the United States (CFIUS) has informed Kunlun that its ownership of West Hollywood, California-based Grindr constitutes a national security risk, the two sources said.
CFIUS’ specific concerns and whether any attempt was made to mitigate them could not be learned. The United States has been increasingly scrutinizing app deve...
Wall Street Bogged Down by Global Growth Worries
2019-03-27 17:53:13 UTC
(Reuters) - Fears of a global economic slowdown weighed on Wall Street’s main indexes on Wednesday, and along with a prolonged inversion in the U.S. yield curve kept investors at bay.
Apple Inc was a bright spot, rising 1.23 percent after three straight days of losses.
The benchmark 10-year Treasury yields slid on Wednesday, but came off 15-month lows reached overnight as investors remained focused on central bank dovishness globally. The inversion, if it persists, could indicate that a recession is likely in one to two years. [US/]
U.S. stocks have been hit by worries of slowing global economic growth since last week following do...
Scientists' evidence for man-made global warming hits 'gold standard'
2019-02-25 18:33:18 UTC
OSLO (Reuters) - Evidence for man-made global warming has reached a “gold standard” level of certainty, adding pressure for cuts in greenhouse gases to limit rising temperatures, scientists said on Monday.
“Humanity cannot afford to ignore such clear signals,” the U.S.-led team wrote in the journal Nature Climate Change of satellite measurements of rising temperatures over the past 40 years.
They said confidence that human activities were raising the heat at the Earth’s surface had reached a “five-sigma” level, a statistical gauge meaning there is only a one-in-a-million chance that the signal would appear if there was no warming.
The segregation-era road-trip drama “Green Book” wins best picture at Oscars
2019-02-25 04:57:11 UTC
LOS ANGELES (AP) — The segregation-era road-trip drama “Green Book” was crowned best picture at the Academy Awards, handing Hollywood’s top award to a film seen as a feel-good throwback to some but ridiculed as an outdated inversion of “Driving Miss Daisy” by others.
In a year where Hollywood could have made history by bestowing best-picture on Netflix (“Roma”) or Marvel (“Black Panther”) for the first time, the motion picture academy instead threw its fullest support behind a traditional interracial buddy tale that proved as popular as it was divisive. But Peter Farrelly’s “Green Book” weathered criticism that it was retrograde and ina...
Oscars winners 2019: The full list of winners
2019-02-25 04:32:29 UTC
Los Angeles — Sunday night’s Oscars marked a record-breaking year for recognizing the achievement of black artists. Shattering a record set in 2017, the 91st Academy Awards bestowed trophies to seven black winners in six categories.
The following is a list of nominees and the winners:
<h3>BEST PICTURE</h3><p>"Black Panther"</p><p>"BlacKkKlansman"</p><p>"Bohemian Rhapsody"</p><p>"The Favourite"</p><p>"Green Book" <strong>*WINNER</strong></p><p>"Roma"</p><p>"A Star Is Born"</p><p>"Vice"</p><h3><br></h3><h3>ACTRESS IN A SUPPORTING ROLE</h3><p>Amy Adams...
Buffett rebukes Trump for taking credit for US economic growth
2019-02-23 19:58:52 UTC
(Reuters) - Warren Buffett on Saturday appeared to fault U.S. President Donald Trump for taking too much credit for the nation’s economic growth, while acknowledging that market conditions are making it tough for his Berkshire Hathaway Inc to find more big companies to buy.
Buffett lamented these states of affairs in his widely read annual letter to Berkshire shareholders.
Accompanying the letter was more bad news, that sinking stock prices and a big writedown for the company’s Kraft Heinz Co investment fueled a $25.39 billion fourth-quarter net loss, and caused Berkshire to post its lowest annual profit since 2001.
But many of ...
Democrats pursue subpoenas on US migrant family separation policy
2019-02-23 19:35:34 UTC
WASHINGTON (Reuters) - In what is likely to be their first public use of subpoena power since taking over the U.S. House of Representatives in January, Democrats were set to vote on Tuesday on subpoenaing documents on the Trump administration’s migrant family separation policy.
If approved, the subpoenas by the House Oversight Committee would show Democrats beginning to invoke the investigative clout they obtained when voters in November handed them majority control of the House and took it away from Republicans.
Democrats are initiating a series of investigations of President Donald Trump, his personal finances and business interest...
Sanders to Ask Why Drug, Once Free, Now Costs $375k
2019-02-04 16:47:41 UTC
WASHINGTON (Reuters) - U.S. Senator Bernie Sanders sent a letter to Catalyst Pharmaceuticals on Monday asking it to justify its decision to charge $375,000 annually for a medication that for years has been available to patients for free.
The drug, Firdapse, is used to treat Lambert-Eaton Myasthenic Syndrome (LEMS), a rare neuromuscular disorder, according to the letter, made available to Reuters by the senator’s office. The disorder affects about one in 100,000 people in the United States.
The government is intensifying its scrutiny of the pharmaceutical industry and rising prescription drug prices, a top voter concern and a priority...
UK Government Considers Another Brexit Vote
2019-03-27 17:58:22 UTC
LONDON, March 27 (Reuters) - Britain’s government will file a motion to allow parliament to sit on Friday as the government considers bringing another vote in parliament on its Brexit divorce deal, Brexit minister Stephen Barclay said on Wednesday.
“The government will later today table a motion for the house to sit this Friday,” Barclay told parliament. “Whist I appreciate it may cause some inconvenience, it is better to have it and not need it than to need it and not have it.”
<hr><I><strong>(Reporting By Elizabeth Piper and Andrew MacAskill)</I></srtrong><hr>