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Middle East war damage to energy assets may cost up to $58 billion, research firm Rystad says

April 15 (Reuters) - The Middle East conflict could saddle the region with as much as $58 billion in repair costs for energy-linked infrastructure, with oil and gas facilities alone accounting for up to $50 billion, according to a report by Rystad Energy. The estimate ...
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IMF cautions countries against broad fuel subsidies to deal with war-driven energy shock

By Andrea Shalal WASHINGTON, April 15 (Reuters) - The war in the Middle East has intensified strains on an already fragile global fiscal situation, with higher interest rates and rising energy prices already fueling calls for support from emerging markets and developing economies, the International ...
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As energy costs rise, some states back off ambitious climate goals

ALBANY, N.Y. (AP) - Seven years ago, New York lawmakers set ambitious goals for slashing greenhouse gas emissions with clarion calls about saving the future. Now, with slow progress made and political realities shifting, Gov. Kathy Hochul is seeking a delay, saying she wants ...
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Court rules Hancock Prospecting must pay royalties to former partners 

MELBOURNE, April 15 (Reuters) - Hancock Prospecting, owned by Australia's richest person Gina Rinehart, and Rio Tinto must pay what could amount to hundreds of millions of dollars in royalties from iron ore mines to her father's former business partners, a court ruled on ...
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Kering shares slide after Gucci sales disappoint

MILAN/PARIS, April 15 (Reuters) - Kering shares plunged as much as 10% on Wednesday after first-quarter sales at its Italian flagship brand Gucci dropped more than expected, underlining the challenges in reviving the brand's appeal. Gucci sales fell 8%, the 11th straight quarterly decline, ...
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China’s vice commerce minister meets Ford executive, urges deeper market presence

BEIJING, April 15 (Reuters) - China's Vice Commerce Minister Li Chenggang met a senior Ford executive in Beijing this week, urging the U.S. automaker to deepen its presence in the Chinese market, according to a commerce ministry statement on Wednesday. "The Chinese and U.S. automotive ...
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Victory Giant’s $2.2 billion Hong Kong listing seen pricing at top on demand, sources say

By Yantoultra Ngui SINGAPORE, April 15 (Reuters) - China's Victory Giant is expected to price its Hong Kong share offering at the top of a range at HK$209.88 per share, raising HK$17.5 billion ($2.2 billion), after receiving strong demand from investors, according to two sources ...
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In apparent flub, Energy Secretary Wright says US heading ‘in the wrong direction’

WASHINGTON (AP) - Energy Secretary Chris Wright raised eyebrows Tuesday after saying the country "looks like we're going in the wrong direction" in remarks hailing a new natural gas pipeline project. Speaking at a groundbreaking for a project that will transport natural gas from Pennsylvania ...
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Anthropic draws offers from VCs to invest at up to $800 billion valuation, Business Insider reports

April 14 (Reuters) - Anthropic has received multiple offers from venture capital firms valuing the Claude maker at as much as $800 billion in recent weeks, more than double its current valuation, Business Insider reported on Tuesday, citing sources. Anthropic did not immediately respond to ...
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China Evergrande founder Hui Ka Yan pleads guilty to a set of charges including fraud and bribery

HONG KONG (AP) - The founder of the debt-ridden real estate developer China Evergrande pleaded guilty to a series of charges, including illegal absorption of public deposits, fraud and corporate bribery, according to a mainland Chinese court statement Tuesday. Hui Ka Yan, also known ...
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Australia Inc starts to feel Iran war fallout, raising stagflation risk

By Christine Chen SYDNEY, April 14 (Reuters) - Australia's corporates are starting to count the cost of the war in the Middle East, with profit warnings from two top companies and a crash in business sentiment pointing to pain from rising prices, raising the risk ...
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Under pressure: Tracking the pain in G7 government debt

By Yoruk Bahceli, Ben Welsh, Dhara Ranasinghe and Rocky Swift LONDON/NEW YORK/TOKYO, April 14 (Reuters) - The world's major economies have seen their debt levels surge in recent years, while ever-increasing spending demands - from ageing populations to climate change and defence - are adding ...
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