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Norwegian oil and gas workers start strike, cutting output

Norwegian oil and gas workers start strike, cutting output

OSLO, July 5 (Reuters) – Norwegian offshore workers began a strike on Tuesday that will reduce oil and gas output, the union leading the industrial action told Reuters. The strike, in which workers are demanding wage hikes to compensate for rising inflation, comes amid high oil and gas prices, with supplies of natural gas to …

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Stocks up in holiday mood on resilient oil

Oil recovers after losing $1 a barrel in early trade Nikkei rises 0.84%, Chinese stocks up 0.7% FTSE up more than 1%, S&P futures down 0.3% Payrolls seen slowing this week, Fed minutes seen hawkish LONDON, July 4 (Reuters) – World stocks rose on Monday in trade thinned by a US holiday, benefiting from a …

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Ryanair cabin crew in Spain announce 12 more days of strikes

MADRID, July 2 (Reuters) – Spain-based cabin crew at Ryanair (RYA.I) plan to strike for 12 days this month to demand better working conditions, the USO and SICTPLA unions said on Saturday, raising the prospect of travel chaos as the summer tourist season gets under way. The announcement came on the final day of the …

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Berkshire Hathaway buys 9.9 mln more Occidental shares, has 17.4% stake

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska US May 6, 2018. REUTERS/Rick Wilking/File Photo Register now for FREE unlimited access to Reuters.com register July 1 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said it has bought another 9.9 million …

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Chinese property developer Shimao misses redemption on $1 billion bond

HONG KONG, July 3 (Reuters) – Chinese property developer Shimao Group (0813.HK) has missed the interest and principal payment of a $1 billion offshore bond due on Sunday, in the latest blow to China’s embattled property market. The non-repayment was the first missed public offshore payment for the Shanghai-based developer. With an outstanding $6.1 billion …

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German road traffic agency says 59,000 Tesla vehicles have software glitch

FRANKFURT, July 3 (Reuters) – Germany’s road traffic agency said it was recalling Tesla (TSLA.O) models Y and 3 because of a fault in the automatic emergency call system that affects 59,000 vehicles globally. The KBA watchdog said on its website dated June 29 that a software flaw was causing a breakdown of the eCall, …

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Wall St Week Ahead Investors brace for pivotal July after dismal first half

NEW YORK, July 1 (Reuters) – The US stock market is reeling from its worst first half of any year since 1970, with investors girding for a series of potential flashpoints in July that may set Wall Street’s course for the coming months. Second-quarter corporate earnings, hotly anticipated US inflation data and the Federal Reserve’s …

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Chip stocks hammered as Micron forecast signals waning demand

July 1 (Reuters) – A handful of chipmakers including Micron and AMD have signaled waning demand as red-hot inflation squeezes spending, even as it eases a two-year global semiconductor shortage that has hit production of everything from cars to smartphones. Chip stocks across the world tumbled on Friday after memory chip maker Micron Technology Inc …

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Oil up about $2/bbl as supply outages outweigh recession fears

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, US November 22, 2019. REUTERS/Angus Mordant/ Register now for FREE unlimited access to Reuters.com register US manufacturing sector slows in June -ISM OPEC+ sticks to oil output policy, avoids debate on September Some Norway oil …

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GM vehicle sales tumble 15% as chip crunch, supply snags drag

July 1 (Reuters) – General Motors Co (GM.N) reported a 15% drop in second-quarter auto sales on Friday, as a global chip shortage and supply chain disruptions hit production and left nearly 100,000 vehicles waiting for more parts. The US auto industry is struggling to keep up with pent-up consumer demand for new cars as …

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