US to revoke authorizations to foreign partners of Venezuela’s PDVSA, sources say
HOUSTON – The U.S. government has notified foreign partners of Venezuela’s state oil company PDVSA of the imminent cancellation of authorizations that allow them to export Venezuelan oil and byproducts, sources close to the decision by President Donald Trump’s administration…
Markets in Q1: Everything’s been Trumped!
LONDON – Most investors knew things could turn turbulent this year given U.S. President Donald Trump’s return to power in the world’s biggest economy and financial market, but few predicted the kind of a rodeo ride it has been so…
EU ready to respond to U.S. on trade tariffs, says Germany’s Scholz
BERLIN- Europe wants to cooperate with the United States, but the EU is ready to respond as one if Washington leaves it no choice by imposing tariffs on steel and aluminum, German Chancellor Olaf Scholz said on Sunday. Speaking at…
Poste agrees broad terms to buy most of Vivendi’s Telecom Italia stake, sources say
MILAN – Poste Italiane has agreed broad terms with Vivendi to buy the bulk of the French group’s stake in Telecom Italia and become its main investor, three sources close to the matter said on Saturday. State-controlled Poste, whose businesses…
ING met Italy’s Popolare di Sondrio amid European expansion plan, source says
LONDON – ING Groep met with Italy’s Banca Popolare di Sondrio in recent weeks as it seeks to grow in Europe through takeovers, a person with knowledge of the matter said. The early stage discussions were not advanced and may…
Brazil meatpacker JBS to spend $100 million to build 2 factories in Vietnam
Brazilian meatpacker JBS announced on Saturday that it will invest US$100 million to build two factories in Vietnam, aiming to expand its presence in Southeast Asia and strengthen its position in the global market. According to a statement from the…
FCC opening probe into diversity practices at Disney and ABC
WASHINGTON/LOS ANGELES -The head of the Federal Communications Commission on Friday said he is opening an investigation into the diversity practices of Walt Disney and its ABC unit, saying they may violate U.S. equal employment opportunity regulations. FCC Chair Brendan…
Dominion Energy slashes CEO’s cash payout on long-term goals
Dominion Energy CEO Robert Blue missed out on taking home more than $4 million in cash after the utility’s shareholder return and operating profit during 2022-2024 failed to meet performance targets. Blue received $438,240, just 9% of the potential target…
US natgas prices climb 3% on record LNG flows, lower daily output
U.S. natural gas futures climbed about 3% to a one-week high on Friday on record flows to liquefied natural gas export plants and a decline in daily output. On its first day as the front month, gas futures for May…
Venezuela’s PDVSA to cut office hours as power crisis worsens
Venezuelan state-run oil firm PDVSA will cut office hours for its administrative workers, an internal document seen by Reuters showed, following an energy-saving order by the government amid a worsening power crisis. The administration of President Nicolas Maduro announced on…
Zelenskiy cautious on new minerals deal but says past U.S. aid was not a loan
KYIV -President Volodymyr Zelenskiy said Ukraine would not accept any mineral rights deal that threatened its integration with the EU but said it was too early to pass judgment on a dramatically expanded minerals deal proposed by Washington. The Ukrainian…
Musk says a great wrong is being done to Tesla staff, customers -Fox News
Tesla Chief Executive Elon Musk said on Wednesday that a great wrong was being done to Tesla employees and customers when asked on Fox News’ “Special Report with Bret Baier” about incidents at dealerships that include arson attacks. Tesla has…
Star Entertainment’s Sydney casino licence suspension extended till September
Australian embattled casino operator Star Entertainment said on Friday that its casino licence for Star Sydney will remain suspended until at least September 30, as advised by the New South Wales Independent Casino Commission (NICC). Star also noted that the…
Brazil warns of big risk of global trade being ‘weaponised’
LONDON-Brazil’s secretary of foreign trade warned on Thursday in the wake of U.S. President Donald Trump’s auto tariffs announcement that global trade was at risk of being ‘weaponised’ and that World Trade Organization strains were likely to get worse before…
Johnson & Johnson unit ordered to pay $1.64 billion in HIV drug marketing case
A federal judge ordered a Johnson & Johnson unit on Friday to pay the U.S. government $1.64 billion after a jury found it liable in a whistleblower lawsuit for illegally promoting the HIV drugs Prezista and Intelence. U.S. District Judge…
Nvidia-backed CoreWeave prices downsized US IPO at $40 per share
Nvidia-backed cloud computing firm CoreWeave said on Thursday it had priced its initial public offering at $40 per share, compared with the earlier range of $47 to $55 per share. The IPO size was also reduced to about 37.5 million…
Nikola founder Trevor Milton says he was granted a full pardon by Trump
Trevor Milton, the founder of bankrupt electric and hydrogen-powered truck maker Nikola who was convicted of fraud, has been pardoned by U.S. President Donald Trump, Milton said in a social media post on Thursday. Milton was sentenced to four years…
After years of survival, China’s Huawei returns to revenue peak
SHENZHEN, China – China’s Huawei is expected to claim triumph over U.S. sanctions at its upcoming annual results, bolstered by its software push, progress in chips and booming smart-driving technology business that has helped it move out of “survival mode”….
Toyota’s global output rises for second month in February on solid Japan sales
TOKYO – Toyota Motor said on Friday its global production rose for the second consecutive month in February, driven by higher output and stronger sales in Japan after recovering from a certification scandal in its home market last year. Global…
Lululemon forecasts annual results below estimates as newer styles fail to draw in shoppers
Lululemon Athletica forecast annual revenue and profit below estimates on Thursday as the lack of consumer appeal for its newer styles has been pushing customers to look for products from competitors such as Alo Yoga and Vuori. The company’s shares,…