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Exxon Mobil to cut 2,000 jobs amid restructuring, Bloomberg News reports

(Reuters) -U.S. energy major Exxon Mobil will lay off 2,000 workers globally as part of a long-term restructuring plan, Bloomberg News reported on Tuesday, adding to a wave of job cuts in the oil and gas industry this year. The reductions represent about 3% to ...
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Wolfspeed shares rally after chipmaker exits Chapter 11 bankruptcy

(Reuters) -Wolfspeed shares surged more than 25% before the bell on Tuesday, after the chipmaker successfully emerged from Chapter 11 bankruptcy with a substantially reduced debt load. The move has restored investor confidence in the company’s prospects to become a leading provider of silicon carbide ...
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China calls halt to BHP iron ore cargoes during pricing talks, Bloomberg News reports

MELBOURNE (Reuters) -China’s state iron ore buyer has asked the country’s steelmakers and traders to pause purchases of dollar-denominated seaborne iron ore cargoes from BHP during its annual price negotiations, Bloomberg News reported on Tuesday, citing people familiar with the matter. China, the world’s largest ...
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On Holding COO Sam Wenger to step down, insider Scott Maguire to take over

(Reuters) -Swiss sneaker brand On Holding said on Tuesday its chief operating officer, Sam Wenger, is stepping down at the end of the year after eight years in the role. Scott Maguire, currently chief innovation officer, will assume the expanded role of chief innovation and ...
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Oil price outlook steady as rising supply offset by concerns over Russian output: Reuters poll

By Anjana Anil (Reuters) -Oil prices are expected to hold almost steady this year despite mounting supply from both OPEC+ and non-OPEC producers, with concerns about a potential glut tempered by uncertainty over Russian output, a Reuters poll showed on Tuesday. A survey of 32 economists ...
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US coal auctions will test industry appetite for Trump mining revival

(Reuters) -The Trump administration will auction off coal leases on federal lands in four U.S. states in the coming days, a key test of mining industry interest in its efforts to revive a sector in decline. The sales in Alabama, Montana, Utah and Wyoming will ...
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Lufthansa shares drop as brokers question goals

(Refiles to fix dateline, with no changes to text) (Reuters) -Lufthansa shares dropped over 4% on Tuesday, more than erasing gains from its capital markets day, as some brokers raised doubts over the achievability of its mid-term targets. JPMorgan called the airline’s goals “ambitious” and said ...
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Nippon Steel buys 30% stake of Canada’s Kami iron ore project

TOKYO (Reuters) -Japan’s Nippon Steel said on Tuesday it had bought a 30% stake in Canada’s Kami iron ore project, forming a joint venture with Australia’s Champion Iron and Sojitz to secure high-grade ore supplies for direct reduced iron. Japan’s top steelmaker paid C$42 million ...
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Wall Street futures fall on investor jitters over looming government shutdown

(Reuters) -U.S. stock index futures slipped early on Tuesday, as investors awaited a crucial labor market report and weighed the potential risk of a government shutdown on key economic data releases. Investor sentiment has shifted back toward risk aversion, just a day after equities posted ...
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Trump tariffs led Swiss National Bank to increase foreign currency purchases

By John Revill ZURICH (Reuters) -The Swiss National Bank ramped up foreign currency purchases during the second quarter, data showed on Tuesday, as the central bank reacted to appreciation pressure on the Swiss franc after President Donald Trump announced tariffs on U.S. imports in April. The ...
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Lufthansa faces strike after pilots vote for industrial action

FRANKFURT (Reuters) -Lufthansa faces a strike at its core airline after pilots’ union VC on Tuesday said its members voted in favour of a walkout in a dispute over pensions. VC, or Vereinigung Cockpit, said in a statement that a vast majority of members ...
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Analysis-US auto bankruptcies show rising credit pain in low-income households

By Davide Barbuscia, Saeed Azhar and Anirban Sen NEW YORK (Reuters) -Two auto sector bankruptcies have rattled parts of the U.S. credit market, raising concerns about a deterioration in the financial health of low-income households and migrant communities. Auto-parts maker First Brands became the latest company ...
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