Author: Press Room

© Reuters. U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Rae Wee SINGAPORE (Reuters) – The yen extended its towering rally on Friday and marched toward its best week against the dollar in nearly five months, as traders ramped up expectations that the end of Japan’s ultra-low interest rates was closing in. The broad strength from the yen kept a lid on the dollar, which stayed on the defensive ahead of the closely-watched U.S. nonfarm payrolls report due later on Friday. Bank of Japan (BOJ) governor Kazuo Ueda said on Thursday the…

© Reuters. NEW YORK – Take-Two (NASDAQ:) Interactive Software Inc. experienced a 2% decline in its stock price, closing at $154.21 Thursday, following analysts’ feedback on the anticipated delay of “Grand Theft Auto VI” (GTA VI). Analysts from Bank of America revised their outlook for the game’s publisher, shifting their rating to Neutral from Buy and setting a price target of $170. The downgrade comes after Morgan Stanley referred to GTA VI as Take-Two’s most significant event in a decade, yet pointed out that the latest trailer indicated a delay, with a new expected release in 2025 instead of the…

© Reuters. Investing.com– Oil prices rose from a near six-month low in Asian trade on Friday, but were still set to end lower for a seventh consecutive week as underwhelming production cuts, high U.S. supplies and fears of weakening demand battered markets.  Weak oil import figures from China also weighed on sentiment, as data this week showed oil shipments to the world’s largest crude importer hit a four-month low in November.  The reading pushed up concerns over cooling crude demand in the country, especially after a steady build-up in its oil inventories this year. It also came on the heels…

SlavkoSereda/iStock via Getty Images Canada’s government unveiled a draft framework Thursday for a cap-and-trade system to impose greenhouse gas emission limits on its oil and gas industry, a move hailed by climate and environmental groups and angrily opposed by industry players and the leader of the energy-rich Alberta province. In a rule that would be finalized in 2025, the sector would be required to cut emissions by 35%-38% from 2019 levels beginning in 2030 but could buy offset credits; the government then would keep lowering allowances in stages until the industry reaches net zero by 2050. Among potentially relevant tickers:…

The White House portrayed it as a step toward compromise.When President Biden sent his request to Congress last month for aid to Ukraine and Israel, he included a request for more money to help with security at the border with Mexico, a sweetener intended to both address a crisis and win over support of Republicans.But the move has now left Mr. Biden in a box.By putting the issue on the table, he ignited demands from the right for broad changes to border policy, leaving his own party divided on a topic that many Democrats see as a political vulnerability heading…

Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app The University of Pennsylvania could lose a $100 million gift if its president, Elizabeth Magill, does not step down.Ross Stevens, the founder and CEO of Stone Ridge Asset Management, detailed his decision to pull the gift in a letter to his staff. He said that, given the structure of his deal with the elite university, he has the ability to pull the funding.The threat comes after Magill’s testimony to Congress earlier this week, in which she…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.About 80 years ago, the writer Fred Schwed rightly questioned why Wall Street’s customers did not appear to have become as wealthy as their yacht-owning bankers. Britain’s regulators are playing catching up, investigating fees and undue costs of investment managers. On Thursday, AJ Bell offered reasons how it differs. Its share price leapt 18 per cent higher.As an industry disrupter AJ Bell’s success comes down to the low fees it charges for execution-only services. Pre-tax profits of £88mn rose 50 per cent…

© Reuters. A man walks past a sign of Bank of Japan outside its headquarters in Tokyo, Japan, October 31, 2023. REUTERS/Kim Kyung-Hoon/File Photo By Satoshi Sugiyama TOKYO (Reuters) – Japan’s economy fell faster than initially estimated in the third quarter, revised data showed on Friday, complicating the central bank’s efforts to phase out its accommodative monetary policy. Consumer and business spending both shrank, driving down third-quarter gross domestic product (GDP). Separate data showed real wages and household spending kept falling in October, as prolonged inflation discouraged shoppers. “Weakness in personal consumption is likely to continue for the foreseeable future,…

2/2 © Reuters. FILE PHOTO: Sean O’Brien, President of the International Brotherhood of Teamsters, speaks outside of a UPS Distribution Center in Brooklyn, New York, U.S., July 14, 2023. REUTERS/Brendan McDermid/File Photo 2/2 LOS ANGELES (Reuters) -The Teamsters union that represents U.S. workers at United Parcel Service (NYSE:) on Thursday said it would respond to the firing of about 35 newly organized workers at the delivery company by filing unfair labor practice charges and potentially striking. The roughly three dozen affected specialist and administrative workers at UPS’s Centennial hub in Louisville, Kentucky, organized with Teamsters Local 89 this autumn, the…

Justin Sullivan/Getty Images News Energy market observers warn the impact on Chevron (NYSE:CVX) could be significant if Venezuela’s President Maduro follows through on his threats to annex the disputed Essequibo oil-rich region from neighboring Guyana, Bloomberg reported Thursday. The Biden administration reiterated its “unwavering support” for Guyana’s sovereignty and said it will conduct flight operations within Guyana that “build upon routine engagement.” If Maduro’s threats become more than mere saber rattling, the U.S. likely would reinstate sanctions and revoke a special license that allowed Chevron (CVX) to resume operating in Venezuela, analysts said. Oilfields off the Guyana coast that Chevron…