Author: Press Room

© Reuters. FILE PHOTO: View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo PANAMA CITY (Reuters) -Canadian miner First Quantum (NASDAQ:)’s contract to operate a lucrative mine in Panama is unconstitutional, Panama’s Supreme Court declared on Tuesday following weeks of protests against the deal. Challenges against the company’s new contract, which was approved on Oct. 20, piled up in court amid public anger over the deal, which opponents regard as too generous. “We have decided to unanimously declare unconstitutional the entire law 406 of October 20, 2023,” said Supreme…

© Reuters. FILE PHOTO: A crude oil train moves through the yard at an oil transloading facility in Ft. Laramie, Wyoming July 15, 2014.. REUTERS/Rick Wilking/File Photo (Reuters) – The Biden administration on Tuesday will auction off 35,000 acres (14,164 hectares) of land in Wyoming to oil and gas drillers, the first in a series of such sales that will coincide with a United Nations’ conference aimed at combating fossil fuel-driven climate change in Dubai. The Interior Department’s U.S. Bureau of Land Management (BLM) will offer 63 drilling parcels on nearly 44,000 acres (17,806 hectares) in six Western states over…

Vertigo3d/E+ via Getty Images Bank of America downgraded American Axle & Manufacturing Holdings (NYSE:AXL) to an Underperform rating from Neutral due to lack of any positive catalysts for the stock until well into 2024. The firm also warned that there is risk of volume pressure in the near term, as well as persistent plant-level issues that could also impact performance negatively. Analyst John Murphy said there are potential impacts from labor cost inflation in the mid-to long-term after the signing of the new United Auto Workers contracts with the Detroit Three automakers. In addition, Murphy noted positive mix that benefited…

Georgia Senate Republicans are proposing a new map that would create two Black-majority voting districts, but would probably retain Republicans’ 33-23 edge in the General Assembly’s upper chamber, in an effort to fix a map a judge said illegally dilutes Black votes.The proposed districts, released Monday, would increase the number of Black majority districts by eliminating two white-majority districts currently represented by Democrats. State Sens. Jason Esteves and Elena Parent, both of Atlanta, would find themselves living in Black-majority districts if the redrawn map goes through.A special session on redrawing state legislative and congressional districts is scheduled to begin Wednesday…

HSBC Holdings Plc building at Canada Square in Canary Wharf financial district on 15th August 2023 … [+] in London, United Kingdom. HSBC has announced that it will be relocation from Canary Wharf to the City of London. In recent years, and with work practices changing from office based to hybrid and remote working has resulted in office occupancy being lower. (photo by Mike Kemp/In Pictures via Getty Images)In Pictures via Getty Images HSBC’s stock (NYSE: HSBC HBA ) has gained 24% YTD as compared to the 19% rise in the S&P500 index over the same period. Further, at the…

Discussing finances can be challenging for multigenerational and diverse families as millennials … [+] start supporting their parents in retirement.getty Americans believe they need $1.27 million to retire adequately, according to a 2023 Northwestern Mutual survey. That estimate continues to rise, up from $1.25 million reported last year. However, the median retirement savings for all U.S. working-age households — people 32 to 61 years old — is around $95,776, according to the Economic Policy Institute. As a first generation American from an immigrant family, I found it really tough to talk about money with my parents as they reached retirement…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UBS chair Colm Kelleher said he would like to line up a shortlist of three potential successors for chief executive Sergio Ermotti within the next “couple of years”, aiming to emulate the smooth succession process at his former employer Morgan Stanley.Speaking at the Financial Times Global Banking Summit on Tuesday, Kelleher said external hires would be considered to bolster competition for one of the biggest roles in global banking.“Morgan Stanley was a bloodless coup — I would love to get to the…

© Reuters. An official holds a bag with the euro logo during a eurozone finance ministers meeting in Brussels, Belgium May 22, 2017. REUTERS/Francois Lenoir By Lefteris Papadimas ATHENS (Reuters) – Greece will next month repay ahead of schedule 5.3 billion euros ($5.8 billion) of loans owed to euro zone countries under its first bailout, and hopes to repeat the move in 2024, finance ministry officials told Reuters on Tuesday. The euro zone and the International Monetary Fund (IMF) together lent Greece more than 260 billion euros during its decade-long debt crisis which began in late 2009, in exchange for…

© Reuters. Barclays raises 2024 S&P 500 price target but warns stocks are ‘moving too far, too fast’ Barclays equity strategists raised the 2024-end price target on by 300 points to 4800, reflecting an increased FY24 earnings estimate to $233 (up from $223). Still, the updated model for the S&P 500 2024 EPS trails consensus by $13. “Street consensus for double-digit EPS growth in FY24 looks overly optimistic even after upgrading our goods spending assumption; we see downside driven by disinflation, weak IP and slowing ex-US growth,” the analysts said in a report on Tuesday. Barclays anticipates single-digit returns for…

2/2 © Reuters. FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid 2/2 By Valerie Volcovici (Reuters) – In Texas, oil and gas producer Occidental Petroleum (NYSE:) is constructing a giant facility to suck 500,000 tonnes of carbon dioxide out of the atmosphere annually to keep it from warming the climate, a project backed by hundreds of millions of dollars from investment firm BlackRock (NYSE:). In Louisiana, a consortium of companies that includes Swiss firm Climeworks is teaming…