Author: Press Room

© Reuters. FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo By Arathy Somasekhar HOUSTON (Reuters) -Oil prices ticked up on Friday as U.S. officials appeared close to striking a debt-ceiling deal, and as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting. settled 69 cents, or 0.9%, higher at $76.95 a barrel. U.S. West Texas Intermediate closed up 84 cents, or 1.2%, at $72.67 a barrel. On a weekly basis, both benchmarks posted a second week of…

© Reuters. FILE PHOTO: A logo of Petronas is seen at their office in Kuala Lumpur, Malaysia, April 27, 2022. Picture taken on April 27, 2022. REUTERS/Hasnoor Hussain KUALA LUMPUR (Reuters) -Malaysia’s state oil firm Petronas said on Saturday an anti-corruption probe into the firm’s dealings involving a $90 million project had not found any wrongdoing by the company. Malaysia’s Anti-Corruption Commission (MACC) said on Friday it was investigating allegations of corruption involving Petronas and an international oil and gas company in a project worth 399 million ringgit in the state of Sarawak. It did not identify the company. Petronas…

Nasdaq Composite is in focus this morning after the U.S. Bureau of Labour of Statistics said the core personal consumption expenditures price index was up more than expected in April. What today’s inflation data means for tech stocks For the month, the Fed’s preferred inflation gauge rose 0.4% – supporting the narrative that rates could remain higher for longer. Still, Victoria Greene – the Chief Investment Officer of G Squared Private Wealth is convinced that the ongoing rally in tech stocks is far from over yet. Being concentrated in mega-cap tech stocks has been where to be in this market.…

© Reuters. FILE PHOTO-A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, July 19, 2022. REUTERS By Josh Smith and Sudev Kiyada SEOUL (Reuters) – For North Koreans, the country’s northern frontier long offered rare access to outside information, trade opportunities, and the best option for those seeking to flee. But as the pandemic gripped the world in 2020, Kim Jong Un’s regime embarked on a massive exercise to seal its borders with China…

© Reuters. FILE PHOTO: Members of the Writers Guild of America (WGA) East picket outside Peacock Newfront streaming service offices, in New York City, U.S., May 2, 2023. REUTERS/Shannon Stapleton/File Photo By Jorge Garcia LOS ANGELES (Reuters) – Unions representing teachers, truck drivers and other workers who will be headed soon to the bargaining table turned out in downtown Los Angeles on Friday to support Hollywood’s striking film and television writers. The Writers Guild of America (WGA) began a work stoppage on May 2 after failing to reach an agreement for higher wages with media companies including Walt Disney (NYSE:)…

The MultiChain protocol and its native token, the MULTI, have been in the limelight in today’s crypto news following reports of transactions on the Multichain protocol being delayed across multiple cross-chain bridges without a clear explanation. This has led to a huge sell-off that resulted in the MULTI price dropping by 20% at press time. A crypto wallet linked to Fantom Foundation reportedly withdrew 449,740 MULTI tokens worth about $2.4 million from liquidity on the decentralized exchange SushiSwap. The sell-off was further fuelled by a tweet that purported that the “multichain team has been arrested by the Chinese police, with…

If you follow IPO news, then you’ll know that every year sees a handful of companies considering initial public offerings have generated the most buzz among stock market investors. In most cases, the anticipation is always around companies seen as having the potential to be major players in their respective industries.  In 2023, there are a number of companies that are likely to see the most interest. Here is a summary of the top IPO statistics. Key takeaways The global IPO market saw a decline in both volume and amounts raised in Q1 2023, compared to the same period in…

© Reuters. FILE PHOTO: Chinese Commerce Minister Wang Wentao speaks at a news conference in Beijing, China March 2, 2023. REUTERS/Florence Lo/File Photo BEIJING (Reuters) – Economic and trade development in the Asia-Pacific still faces many disturbances and challenges, China’s commerce minister Wang Wentao said. Wang made the comments at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, where he met with several leaders and exchanged views on multilateral and bilateral economic and trade issues amid wider global trade rifts and uncertainties. Wang said he recognized the difficulties faced by the region, but added that China, as a major developing…

The teams on the Formula One grid race 23 times a year. But the sport, as a whole, is in a one-off race of its own: to be net zero in carbon emissions by 2030.Of all the work being done to reach that goal, the vast majority is aimed at reducing outputs from the factories of the 10 teams, as well as the personnel, public and freight travel to race locations around the world. These were estimated in 2018 at 256,551 tonnes of CO₂.Four years on, the sport is scything through those numbers. For example, Mercedes cut emissions from race…

Netflix’s Drive to Survive is typically credited with catalysing the boom in Formula One’s popularity. But it is the racing series’ in-house streaming experiment that is quietly building traction and increasing revenues for the sport.Five years since the launch of F1 TV, the sport’s direct-to-consumer broadcast product is boosting its media rights revenues by attracting millions of subscribers eager to keep up with events throughout the season.F1 TV has increased its global reach by expanding into 186 markets. But the Pro version, which carries live race streams, is available in just 87.It represents a shift from traditional broadcasting models, forming…