PXP

US weekly jobless claims drop to nine-month low; productivity gains speed

Weekly jobless claims drop 3,000 to 183,000 Continuing claims decrease 11,000 to 1.655 million Productivity accelerates at 3.0% rate in fourth quarter Unit labor costs grow at 1.1% pace WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a nine-month low last week as the labor market …

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Airbus and Qatar Airways settle bitter A350 jet row

PARIS, Feb 1 (Reuters) – Airbus (AIR.PA) and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, warning a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable and mutually agreeable settlement” ends a $2 billion row …

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Exclusive: EV maker Rivian to cut 6% of jobs amid price war -internal memo

SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry -wide price war. The company is focusing resources on ramping up vehicle production and reaching …

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Adani drops $2.5 billion share sale in big blow to Indian tycoon

NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller’s criticisms wiped billions more off the value of the Indian tycoon’s stocks. The withdrawal of the Adani Enterprises (ADEL.NS) share offering marks a stunning …

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Film academy says it will not disqualify surprise Oscar nominee Riseborough

LOS ANGELES, Jan 31 (Reuters) – Hollywood’s motion picture academy will not revoke the unexpected best actress nomination for “To Leslie” star Andrea Riseborough, the group’s chief executive said on Tuesday after a review of an aggressive campaign on her behalf. Riseborough was nominated for best actress for playing an alcoholic single mother in the …

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Crypto lender Celsius propped up its token, benefiting insiders -US bankruptcy examiner

SINGAPORE/LONDON, Jan 31 (Reuters) – Bankrupt crypto lender Celsius Network used investor money and customer deposits to prop up its own token while two of its founders made millions of dollars from token sales, a US court-ordered examiner report released on Tuesday showed. Crypto lenders such as Celsius boomed during the COVID-19 pandemic, drawing customers …

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AMD revenue beats targets, Wall St relieved after Intel’s grim outlook

Jan 31 (Reuters) – US chip maker Advanced Micro Devices Inc (AMD.O) on Tuesday posted revenue that beat Wall Street targets and said it expected business to improve in the second half, enthusing investors who saw the company gaining on rival Intel. Shares rose about 1.5% in after hours trading. Although AMD’s forecast was behind …

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

HOUSTON, Jan 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own …

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