Shell 2022 profit more than doubles to record $40 bln

Fourth-quarter profit of $10 billion beats estimates Shell to repurchase $4 billion in shares Shares up 2.5% by 1002 GMT LONDON, Feb 2 (Reuters) – Shell ( SHEL.L ) delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after … Read more

Explainer: Spilled milk? Why are the US and Canada fighting over dairy?

WINNIPEG, Manitoba, Feb 1 (Reuters) – The United States on Tuesday said it was seeking a second trade dispute settlement panel over Canada’s dairy import quotas, accusing Canada of not meeting obligations to open its market to American producers. The move is the latest salvo in longstanding tensions between the trade partners over Canada’s protected … Read more

Morning bid: Markets go all in for disinflation

SYDNEY, Feb 2 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still … Read more

Asian shares jump, dollar eases after Powell comments

SINGAPORE, Feb 2 (Reuters) – Asian stocks jumped on Thursday while the dollar eased after Federal Reserve Chair Jerome Powell said a “disinflationary” process was underway, boosting risk appetite and hope that the US central bank will soon end its monetary tightening streak. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.84% ​​higher, … Read more

Solar power industry to FERC: Let us compete in backup market for midwest grid

Midwest grid operator MISO banned renewables from the backup market in 2010 Solar power industry says decision based on now-outdated data (Reuters) – A rule banning wind and solar energy producers from participating in power markets that provide critical support for the electricity grid for much of the Midwest is outdated and based on “stale” … Read more

India ramps up spending in last budget ahead of election

NEW DELHI, Feb 1 (Reuters) – India’s government on Wednesday unveiled a $550 billion budget for the next fiscal year that starts on April 1, with a plan for record capital spending while reining in the fiscal deficit. Prime Minister Narendra Modi’s party, which faces elections in key states this year and a national vote … Read more

Oil stable as market awaits Fed, OPEC decisions

LONDON, Feb 1 (Reuters) – Oil prices were broadly stable as the market is looking towards a meeting of OPEC and its allies as well as a Federal Reserve rate decision and US government data on crude and fuel stockpiles on Wednesday. Brent crude futures dipped 11 cents, or 0.1%, to $85.35 a barrel at … Read more

Missing radioactive capsule found in Western Australia

SYDNEY, Feb 1 (Reuters) – Australian authorities on Wednesday found a radioactive capsule that was lost in the vast Outback after nearly a week-long search along a 1,400 km (870-mile) stretch of highway, an emergency services official said. The military was verifying the capsule and it would be taken to a secure facility in the … Read more

Stocks firm, dollar on edge ahead of Fed decision

US wage growth moderates, Wall Street rallies MSCI AxJ index up 0.6%; dollar flat All eyes on 1900 GMT Fed announcement SINGAPORE, Feb 1 (Reuters) – Asia’s stock markets steadied on Wednesday, with signs of a slowdown in US wages bolstering hopes that the Federal Reserve could hint at an end to interest rate hikes … Read more

‘Hands off Africa,’ Pope Francis tells rich world

Pope begins trip to DR Congo and South Sudan Francis to meet victims of war in Congo Trip postponed from July due to pope’s knee ailment KINSHASA, Jan 31 (Reuters) – Pope Francis denounced the “poison of greed” driving conflicts in Africa as he began a visit to the Democratic Republic of Congo on Tuesday, … Read more