Business

U.S. consumer sentiment improves in December

U.S. consumer sentiment improved in December amid recent gains on the stock market, while inflation expectations eased to a 15-month low, a survey showed on Friday. The University of Michigan’s preliminary December reading on the overall index of consumer sentiment came in at 59.1, up from 56.8 in the prior month. Economists polled by Reuters […]

Business

Cold spell tests Europe’s gas cutback ambitions

Europe’s first cold spell heading into the depths of winter is testing the resolve of countries to continue limiting gas use after they comfortably exceeded an EU reduction target, analysis of consumption data shows. European countries on average cut their natural gas consumption by 24% in November from the 2019-2021 average for the same month, […]

Business

Mexican airline Volaris exploring sustainable fuel options

Mexican low-cost carrier Volaris is exploring options to obtain sustainable aviation fuel (SAF), including a potential deal in the United States, the airline’s top executive said in an interview following the company’s investor day. “We have to work on developing supply in Mexico,” Chief Executive Enrique Beltranena told Reuters, adding that the airline had flown […]

Business

Colombia’s Ecopetrol to invest up to $6.2 bln in 2023

Colombia’s majority state-owned oil company Ecopetrol will invest up to around 30 trillion pesos ($6.2 billion) in 2023, it said on Friday, with the main focus on energy security rather than energy transition. The company has seen soaring profits in 2022 amid higher oil prices and a strong U.S dollar. Third-quarter net profits more than […]

Business

Bank of China offers loans to ease Chinese developer’s liquidity

Bank of China, one of China’s top four state-owned banks, has offered offshore loans to cash-starved Chinese property developer Longfor Group Holdings Ltd (0960.HK), it said in a statement on Friday. The move was part of the arrangement by regulators to help developers repay their debts as China has stepped up support in recent weeks […]

Business

November PPI a bit hotter than expected

U.S. producer prices increased a bit more than expected in November, but the underlying trend in inflation is moderating, which could allow the Federal Reserve to slow its pace of interest rate hikes next week. The producer price index for final demand rose 0.3% last month, the Labor Department said on Friday. Data for October […]

Business

Keystone pipeline shut after 14,000-barrel oil spill in Kansas

Canada’s TC Energy shut its Keystone pipeline in the United States after more than 14,000 barrels of crude oil spilled into a creek in Kansas, making it one of the largest crude spills in the United States in nearly a decade. The cause of the leak, which occurred in Kansas about 20 miles (32 km) […]