Category: Economy
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Frontier Lithium surges on JV with Mitsubishi for Canadian operations
(Reuters) -Frontier Lithium has formed a joint venture with Japanese trading house Mitsubishi to help advance lithium mining and processing in Ontario, sending the Canadian miner’s shares up 15% on Monday. The deal will help finance the PAK Lithium Project mine and a planned lithium chemicals conversion facility, Frontier said, as the company aims to…
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Suriname’s Staatsolie signs gas exploration deal with Petronas, Exxon
PARAMARIBO (Reuters) – Suriname’s Staatsolie said on Monday that Malaysia’s Petronas and U.S. oil giant Exxon Mobil have agreed to extend exploration of a gas discovery off its coast, and are considering the potential for a floating LNG project. Petronas and Exxon made a gas discovery in 2020 at offshore Block 52, but they considered…
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S&P 500, Nasdaq close at fresh records on AI boost, easing yields
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks rose on Friday, with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields. The gains marked the second straight closing record for the Nasdaq, which also set an intraday record…
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Vista Outdoor gets $2.9 billion takeover offer from investment firm MNC Capital
By Abigail Summerville and Ananya Mariam Rajesh (Reuters) -Investment firm MNC Capital has offered to buy sporting goods and outdoor products company Vista Outdoor for $2.9 billion including debt, it said on Friday, challenging Vista’s planned sale of its sporting goods business to a foreign buyer. MNC Capital said it submitted a proposal for $35…
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War with Hamas dents Israel economy but strong rebound seen afterwards
By Steven Scheer JERUSALEM (Reuters) -Israel’s economy is taking a hit after more than four months of war with Hamas, but the economy looks set to grow slightly this year before rebounding in 2025 as long as the conflict stays contained to Gaza. Israel’s $500 billion economy had been humming along and was expected to…
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UK inflation holds at 4.0% in relief for BoE and Sunak
By Suban Abdulla LONDON (Reuters) – British inflation unexpectedly held steady at 4.0% in January, defying forecasts of a rise, official data showed, offering relief for the Bank of England (BoE) and Prime Minister Rishi Sunak too ahead of a national election expected this year. Economists polled by Reuters had expected an increase in the…
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Currency, inflation woes in focus as Egypt’s Sisi set for third term
By Patrick Werr CAIRO (Reuters) – In the run-up to Egypt’s Dec. 10-12 presidential election, financially strapped people queue at state-managed cooperatives trying to buy scarce rations of subsidised sugar. It is the latest sign of economic pressures that have risen sharply since early last year, leaving Egyptians grappling with soaring prices and an unresolved…
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USDA opens applications for $300 million to help exporters break into new markets
By Andrea Shalal WASHINGTON (Reuters) – The U.S. Department of Agriculture on Wednesday said it would start accepting applications for an initial $300 million in funding to help U.S. agricultural exporters break into new markets outside China, Canada, Mexico and the European Union. Agriculture Secretary Tom Vilsack will make the announcement during a meeting of…
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Chinese financial watchdog warns of risks as Premier Li takes helm
BEIJING (Reuters) – China’s Central Financial Commission (CFC), with Premier Li Qiang in place as its head, urged stronger supervision of risks in the multi-trillion dollar financial sector as China steps up the pace towards becoming a “major financial power”. In a meeting presided by Li, the CFC called for greater focus on developing fintech,…
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Fed’s Williams says US central bank’s policymaking now more strategic
By Michael S. Derby NEW YORK (Reuters) – New York Federal Reserve President John Williams said on Wednesday that the U.S. central bank had made great strides over recent decades in improving how it makes policy over the long run. Fed research analysis three decades ago was largely tactical and “very much about the here…