Saudi, OPEC may make up for Russian oil output loss as Biden visit looms

The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen at OPEC’s headquarters in Vienna, Austria June 19, 2018. REUTERS/Leonhard Foeger/File Photo Register now for FREE unlimited access to Reuters.com Register Western sanctions have driven down Russian production OPEC+ meets Thursday, may address Russian output issue US diplomats have been working on … Read more

Facebook-owner Meta Platforms’ Sheryl Sandberg to leave after 14 years

June 1 (Reuters) – Meta Platforms Inc. (FB.O) Chief Operating Officer Sheryl Sandberg, whose close partnership with Chief Executive Officer Mark Zuckerberg powered the growth of the world’s biggest social network, is leaving the company after 14 years, she said in a Facebook post on Wednesday. The announcement initially sent the social media firm’s shares … Read more

Dimon says brace for US economic ‘hurricane’ due to inflation

June 1 (Reuters) – Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase & Co (JPM.N) described the challenges facing the US economy akin to an “hurricane” down the road and urged the Federal Reserve to take forceful measures to avoid tipping the world’s biggest economy into a recession. Dimon’s comments come a day after … Read more

Elon Musk tells Tesla staff: return to office or leave

June 1 (Reuters) – Tesla Inc. (TSLA.O) Chief Executive Elon Musk has asked employees to return to the office or leave the company, according to an email sent to employees and seen by Reuters. “Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” Musk wrote in the … Read more

Stocks squeeze out slim gains, dollar climbs as inflation soars

Europe’s STOXX 600 up 0.3% Banks, auto shares gain Wall Street set to mirror advances Dollar climbs to two-week high vs yen LONDON/SINGAPORE, June 1 (Reuters) – European stocks made slim gains on Wednesday, with the dollar strengthening as investors fretted over soaring inflation and the hit on global growth from looming interest rate rises. … Read more

Rising cost of living hurts US consumer confidence; house prices soar

Consumer confidence index falls to 106.4 in May Labor market gauge softeners; more say jobs hard to find Buying intentions for cars, homes, major appliances ease House prices accelerate year-on-year in March WASHINGTON, May 31 (Reuters) – US consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to … Read more

S&P closes lower after last week’s rally with inflation in focus

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, March 21, 2022. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Reuters.com Register May 31 (Reuters) – The S&P 500 closed lower on Tuesday after a three-session rally as volatile oil trading kept soaring inflation in … Read more

How a cheap component could help kill off combustion cars

LONDON/BERLIN, May 30 (Reuters) – The humble wire harness, a cheap component that bundles cables together, has become an unlikely scourge of the auto industry. Some predict it could hasten the downfall of combustion cars. Supplies of the auto part were choked by the war in Ukraine, which is home to a significant chunk of … Read more

Box Office: ‘Top Gun: Maverick’ Debuts to Stratospheric $124 Million

LOS ANGELES, May 29 (Variety.com) – Tom Cruise may have pulled off one of the most daring stunts of his career — getting audiences to go to the movies for something that doesn’t involve superheroes. “Top Gun: Maverick” pulled in blockbuster ticket sales in its opening weekend, collecting $134 million from a record 4,732 North … Read more

US doctors reconsider Pfizer’s Paxlovid for lower-risk COVID patients

May 28 (Reuters) – Use of Pfizer Inc’s (PFE.N) COVID-19 antiviral Paxlovid spiked this week, but some doctors are reconsidering the pills for lower-risk patients after a US public health agency warned that symptoms can recur after people complete a course of the drug, and that they should then isolate a second time . More … Read more