OPEC + mulling largest cuts since 2020 crisis, sources say

OPEC + mulling largest cuts since 2020 crisis, sources say

LONDON, Oct 3 (Reuters) – The OPEC + group of oil producers is discussing output cuts of more than 1 million barrels per day (bpd), OPEC sources said, and voluntary cuts by individual members could come on top of that, making it their largest cut since 2020. The group is set to meet on Oct. … Read more

Kim Kardashian pays $ 1.26 million fine for paid crypto ad, SEC says

Kim Kardashian pays $ 1.26 million fine for paid crypto ad, SEC says

WASHINGTON, Oct 3 (Reuters) – Kim Kardashian has promoted everything from appetite-suppressing lollipops to melon-flavored liqueur to toilet paper, but it was her foray into the murky world of cryptocurrencies that got her into hot water. The reality television star and influencer has agreed to settle charges of unlawfully touting a crypto security and to … Read more

Analysis: Under water: how the Bank of England threw markets a lifeline

Bank of England bought bonds after pension fund pleas Some UK pension funds faced problematic margin calls BoE support seen as giving window to build collateral British government’s unfunded tax plan spooked markets LONDON / NEW YORK, Oct 2 (Reuters) – Calls to the Bank of England saying some British pension funds were struggling to … Read more

Stampede, riot at Indonesia football match kill 174, league suspended

East Java stadium disaster apparently worst since 1964 Around 180 injured during crowd stampede Indonesia football association suspends league to investigate Police say they fired tear gas to control crowd MALANG, Indonesia, Oct 2 (Reuters) – At least 174 people were killed and 180 injured in a stampede and riot at a soccer match in … Read more

Japan spent record of nearly $ 20.0 bln on intervention to support the yen

Intervention drains nearly 15% of readily available funds Japan can avoid selling US Treasury bills for now – analysts Impact of further intervention may diminish – analysts TOKYO, Sept 30 (Reuters) – Japan spent up to a record 2.8 trillion yen ($ 19.7 billion) intervening in the foreign exchange market last week to prop up … Read more

Swiss National Bank ends era of foreign currency purchases

SNB halted foreign currency purchases to curb franc strength Sold 5 million Swiss francs worth of foreign currency in Q2 SNB spent 353 billion francs in 7-1 / 2 years on forex Policy seen as success by economists ZURICH, Sept 30 (Reuters) – The Swiss National Bank sold 5 million Swiss francs ($ 5.1 million) … Read more

EU countries approve energy windfall levies, turn to gas price cap

EU approves energy windfall profit levies Countries eye gas price caps as their next move States split over how to contain sky-high prices BRUSSELS, Sept 30 (Reuters) – European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits, and began talks on their next move to tackle Europe’s energy crunch … Read more

Oil settles lower after hitting $ 90 / bbl as OPEC + considers output cut

OPEC + has begun talks on output cut at Oct. 5 meet – OPEC source Russia seen suggesting OPEC + cuts output by 1 mln bpd – source US markets slide on Fed’s aggressive moves to tame inflation US production to return after shutting for Hurricane Ian NEW YORK, Sept 29 (Reuters) – Oil prices … Read more

US weekly jobless claims hit five-month low; economic picture darkening

Weekly jobless claims drop 16,000 to 193,000 Continuing claims decrease 29,000 to 1.347 million Second-quarter GDP contraction unrevised at 0.6% rate Gross domestic income revised down towards GDP WASHINGTON, Sept 29 (Reuters) – The number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains … Read more

Exclusive: Europe braces for mobile network blackouts

PARIS / STOCKHOLM / MILAN, Sept 29 (Reuters) – Once unthinkable, mobile phones could go dark around Europe this winter if power cuts or energy rationing knocks out parts of the mobile networks across the region. Russia’s decision to halt gas supplies via Europe’s key supply route in the wake of the Ukraine conflict has … Read more