Adani loses Asia’s richest crown as stock rout worsens to $84bn

Adani loses Asia’s richest crown as stock rout worsens to bn

BENGALURU, Feb 1 (Reuters) – Shares in Indian tycoon Gautam Adani’s conglomerate plunged again on Wednesday as the rout of its companies deepened to $84 billion following a U.S. report on sellers at discovered, the billionaire also losing his title of richest in Asia. the person. Wednesday’s stock losses saw Adani slip to 15th on … Read more

Exxon smashes the profits of Western oil majors with $56 billion in 2022

Exxon smashes the profits of Western oil majors with  billion in 2022

HOUSTON, Jan 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted net income of $56 billion for 2022, the company announced Tuesday, bringing in about $6.3 million per hour last year and setting not only a record for the company, but also an all-time high for the western oil industry. The oil majors are expected to … Read more

Europe Inc earnings offer more hope to market optimists

Europe Inc earnings offer more hope to market optimists

ASML results exceeded expectations STOXX 600 set for best January since 2015 Hopes are growing for an economic soft landing EasyJet shares jump after upbeat outlook Microsoft results sow gloom on Wall Street LONDON, Jan 25 (Reuters) – Earnings at major European companies on Wednesday offered reason for optimism about the health of businesses in … Read more

Morning auction: technological tonic, rethinking the recession

Morning auction: technological tonic, rethinking the recession

A look at the day ahead in the US and global markets from Mike Dolan. Inflated hopes for U.S. tech sector earnings in a busy week for corporate updates have generally paired with the latest sign that Europe may have dodged a winter recession. With Microsoft (MSFT.O) at the top of the reports of the … Read more

Canada’s energy jobs transition bill stirs divisiveness in oil heartland

Canada’s energy jobs transition bill stirs divisiveness in oil heartland

Jan 22 (Reuters) – In western Canada’s oil sector, controversy rages over federal government legislation to help the fossil fuel workforce transition to a greener economy, but union and community leaders warn that the politicization of the Just Transition Bill is obscuring the needs of workers. Prime Minister Justin Trudeau’s Liberal government is expected to … Read more

Davos 2023: Recession casts shadow over WEF summit opening

Davos 2023: Recession casts shadow over WEF summit opening

DAVOS, Switzerland, Jan 16 (Reuters) – The prospect of a looming global recession cast a shadow over Davos on Monday as participants gathered for the opening of the World Economic Forum’s annual meeting weighed the likely cost to their economies and their businesses. Two-thirds of chief private and public sector economists surveyed by the WEF … Read more

Biden’s climate agenda has a problem: Not enough workers

Biden’s climate agenda has a problem: Not enough workers

Jan 11 (Reuters) – U.S. clean energy companies are offering better wages and benefits, bringing in trainers from abroad and considering ideas such as buying roofs and electrical repair shops just to hire their workers as companies try to overcome a labor shortage that threatens to derail President Joe Biden’s climate change agenda. The Cut … Read more

Brazilian assets down in volatile trade after capital storm

Brazilian assets down in volatile trade after capital storm

SAO PAULO/LONDON, Jan 9 (Reuters) – Brazilian assets fell in choppy trading and market participants braced for further volatility on Monday, a day after thousands of supporters of former President Jair Bolsonaro protested. stormed major government buildings in the capital, echoing the June 6, 2021, uprising in Washington. The Brazilian real weakened around 1% against … Read more

Brazilian markets recover despite growing criticism over Lula’s plans

Brazilian markets recover despite growing criticism over Lula’s plans

SAO PAULO, Jan 4 (Reuters) – Brazilian financial markets rose on Wednesday even as criticism of President Luiz Inacio Lula da Silva’s economic policies mounted. Brazil’s real currency and stock market rose after Lula’s chief of staff, Rui Costa, assured that the leftist administration was not currently planning to revise economic reforms. The centrist vice-president … Read more

Brazilian markets fall on Lula’s first full day in office

Brazilian markets fall on Lula’s first full day in office

BRASILIA, Jan 2 (Reuters) – Brazilian markets delivered a scathing verdict on Monday on left-wing President Luiz Inacio Lula da Silva’s first full day in office after he pledged to prioritize social issues and ordered a budgetary extension of the fuel tax exemption. Lula’s decision to extend the fuel tax exemption, which will deprive the … Read more