Exxon crushes Western oil company profits by $56 billion by 2022

Exxon crushes Western oil company profits by  billion by 2022

HOUSTON, Jan. 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted a net profit of $56 billion for 2022, the company said Tuesday, taking home about $6.3 million an hour last year and not just set a company record, but also a historic high point for the Western oil industry. Oil companies are expected to break … Read more

US requests Tesla driver-assist documents; company raises capex forecast

US requests Tesla driver-assist documents;  company raises capex forecast

WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) announced on Tuesday that the US Justice Department has sought documents related to its Full Self-Driving (FSD) and Autopilot driver assistance systems as regulations tighten. The automaker said in a filing that it has “received requests from the DOJ for documents related to Tesla’s Autopilot and FSD … Read more

France hit by new wave of strikes against Macron’s pension reform

France hit by new wave of strikes against Macron’s pension reform

The reform would raise the retirement age to 64 Schools, transportation networks, refinery supplies are affected Macron: Reform vital to ensure the viability of the pension system SAINT-NAZAIRE, France, Jan. 31 (Reuters) – Striking workers disrupted deliveries to French refineries, public transport and schools on Tuesday during a second day of nationwide protests over President … Read more

Three years later, Britain is still waiting for a Brexit dividend

Three years later, Britain is still waiting for a Brexit dividend

The UK is lagging behind its peers in growth, investment and trade Many economists say Brexit is contributing to underperformance Polls show that Britons are increasingly regretting leaving the EU Pro-Brexit economist Lyons: Britain’s problems have long roots LONDON, January 31 (Reuters) – Three years after leaving the European Union, Britain has yet to benefit … Read more

The Norwegian wealth fund posts a record loss of $164 billion

The Norwegian wealth fund posts a record loss of 4 billion

The loss in 2022 surpasses the previous record set in 2008 Inflation and geopolitical tensions remain risk factors Record inflow of money from the oil and gas industry OSLO, Jan. 31 (Reuters) – The Norwegian wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion kroner ($164.4 billion) for 2022, … Read more

Adani’s crucial share sale 85% subscribed as institutions pumped funds

Adani’s crucial share sale 85% subscribed as institutions pumped funds

MUMBAI, Jan. 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale moved closer to full subscription on Tuesday as investors pumped in cash after a tumultuous week for his group in which the shares were ravaged by a destructive short-seller -report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was 85% underwritten … Read more

People who posted Sam Bankman-Fried’s bail must be named, the US judge rules

People who posted Sam Bankman-Fried’s bail must be named, the US judge rules

NEW YORK, Jan. 30 (Reuters) – A US judge on Monday said the names of two people who helped secure bail for indicted founder of the FTX cryptocurrency exchange, Sam Bankman-Fried, must be made public, but he has stayed his ruling pending an expected appeal. U.S. District Judge Lewis Kaplan in Manhattan ruled in favor … Read more

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy as early as this week

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy as early as this week

NEW YORK, Jan. 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is gearing up to seek bankruptcy protection as early as this week and has liquidators lined up to close additional stores unless a last-minute buyer appears, four people familiar with the matter said Monday. The timing of an eventual bankruptcy filing was in … Read more

US court rejects J&J bankruptcy strategy for tens of thousands of talk cases

US court rejects J&J bankruptcy strategy for tens of thousands of talk cases

30 Jan. (Reuters) – A US appeals court has overruled Johnson & Johnson’s (JNJ.N) attempt to bankrupt tens of thousands of lawsuits over its talc products, ruling that the healthcare conglomerate improperly filed a subsidiary in Chapter 11. even though it did not get into financial trouble. The decision of the U.S. 3rd Circuit Court … Read more

Unilever appoints former Heinz exec Schumacher as CEO

Unilever appoints former Heinz exec Schumacher as CEO

Becomes CEO on July 1 Activist shareholder says he met Schumacher at Heinz First outsider CEO since the appointment of Paul Polman in 2008 Unilever shares surpass FTSE 100 LONDON, January 30 (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as CEO from July, a move welcomed by investors including board … Read more