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Analysis-Fuel oil demand defies forecasts due to Red Sea disruptions and shadow fleet expansion

By Enes Tunagur LONDON (Reuters) -Fuel oil used in ships and power plants is seeing unexpected demand, with efforts to curb its use more than offset by an expanding shadow fleet of oil tankers serving Russia and others, and longer shipping routes as vessels avoid ...
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Fed’s Logan says US central bank must be ‘very cautious’ on rate cuts

(Reuters) -Federal Reserve Bank of Dallas President Lorie Logan on Thursday said the U.S. central bank appropriately took out some insurance against any sharp deterioration in the labor market with its interest-rate cut last month, but needs to be “cautious” with any further rate ...
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Tesla beats delivery estimates as EV buyers rush to secure expiring tax credits

By Akash Sriram (Reuters) -Tesla’s third-quarter deliveries trounced Wall Street estimates on Thursday, powered by an unusual sales boost from U.S. EV buyers rushing to lock in popular tax credits before their expiry at the end of September. The Elon-Musk-led carmaker had frequently talked up the ...
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Exclusive-China’s banks lend to Saudi gas project while its funds sit out of BlackRock-led deal, sources say

By Hadeel Al Sayegh DUBAI (Reuters) -China’s biggest state banks are lending billions to Aramco’s Jafurah gas project, though its funds have passed on the opportunity to invest in the venture, three people familiar with the matter said. Chinese banks provided more than a third of ...
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Brazil confident Senate will back taxing the wealthy to offset middle-class exemptions

By Marcela Ayres and Isabel Teles BRASILIA/SAO PAULO (Reuters) -Brazil’s government said it was confident the Senate would pass a bill expanding income tax exemptions for the middle class, after the measure cleared the Lower House late Wednesday. The proposal, a key initiative of President Luiz ...
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Tesla reports surprise increase in car sales in the third quarter

NEW YORK (AP) — Tesla reported a surprise increase in sales in the third quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday ...
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DoorDash finalizes its $3.9 billion acquisition of UK’s Deliveroo

WASHINGTON (AP) — DoorDash has finalized its acquisition of the U.K. food delivery company Deliveroo, saying Thursday that the boards of both companies approved the nearly $4 billion deal announced earlier this year. Word of DoorDash’s interest in Deliveroo began to circulate in April and ...
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Rivian tops quarterly delivery estimates as sales jump before tax credit expiry

(Reuters) -Rivian Automotive reported a nearly 32% surge in third-quarter deliveries, beating analysts’ estimates, as more U.S. car buyers rushed to secure tax credits before their expiry by purchasing new electric vehicles. Despite the jump in deliveries, the EV industry faces uncertainty over the next ...
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Exclusive-Armani approached potential buyers over stake sale, sources say

By Amy-Jo Crowley, Dominique Patton and Mathieu Rosemain LONDON (Reuters) -Armani representatives have made informal approaches to some potential buyers for a minority stake in the renowned Italian fashion group, three sources with knowledge of the situation told Reuters, effectively starting a de-facto auction for ...
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Mini-meditations are a way to foster peace of mind at work

NEW YORK (AP) — The idea of meditating can be intimidating. Beginners may imagine sitting uncomfortably in silence while breathing deeply and scrubbing all thoughts from their minds. The prospect of trying those techniques at work may feel embarrassing. But there are ways to bring ...
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Occidental to sell OxyChem unit to Berkshire for $9.7 billion

(Reuters) -Occidental Petroleum said on Thursday it would sell its petrochemical division to Warren Buffett’s Berkshire Hathaway for $9.7 billion, as the U.S. oil and gas producer looks to pare debt. The sale of the OxyChem unit, which produces chemicals used for treating swimming pools ...
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Private markets brace for cycle test, Asia exits remain tight

By Yantoultra Ngui and Jun Yuan Yong SINGAPORE (Reuters) -The boom in private credit and private equity is poised for a reality check as an untested credit cycle collides with fragile exit routes in Asia’s public markets, two senior investment executives said at ...
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