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NatWest Annual Profit Climbs 20, Thwaite Confirmed as CEO

LONDON, Feb 16 Reuters British bank NatWest confirmed Paul Thwaite as its permanent chief executive on Friday and reported forecastbeating profit for 2023, as it gears up for a crunch sale of stateowned stock in the company after a scandalhit year. The taxpayerbacked lender reported pretax profit of 6.2 billion pounds 7.8 billion for the 12month […]
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US Producer Prices Revised Lower in December

WASHINGTON, Feb 14 Reuters U.S. producer prices fell more than initially thought in December, revised government data showed on Wednesday. The producer price index for final demand dropped 0.2 in December instead of dipping 0.1 as previously reported, annual revisions of the PPI data published by the Labor Department39;s Bureau of Labor Statistics BLS showed. […]
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Frigid Weather Depresses US Manufacturing Output in January

WASHINGTON, Feb 15 Reuters Production at U.S. factories unexpectedly fell in January, weighed down by harsh winter weather. Manufacturing output dropped 0.5 last month after an unrevised 0.1 gain the prior month, the Federal Reserve said on Thursday. The Fed attributed the decline to winter weather. Economists polled by Reuters had forecast factory output would […]
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US Business Inventories Rebound in December

WASHINGTON, Feb 15 Reuters U.S. business inventories rebounded in December, driven by rising stocks at retailers and wholesalers. Business inventories rose 0.4 after falling 0.1 in November, the Commerce Department39;s Census Bureau said on Thursday. The increase in inventories, a key component of gross domestic product, was in line with economists39; expectations. Inventories advanced 0.4 […]
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New York Pension Fund to Divest some Exxon Holdings

Feb 15 Reuters The New York State Common Retirement Fund will restrict its investments in eight integrated oil and gas companies, including the divestment of a small share of its holdings in Exxon Mobil, New York Comptroller Thomas DiNapoli, who oversees retirement assets, said on Thursday. The move follows a review of the companies39; readiness […]
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Ford CEO Open to Working with Rivals to Compete with China

Feb 15 Reuters Ford Chief Executive Jim Farley said on Thursday the automaker is reworking its electric vehicle strategy to compete with Chinese rivals, and opened the door to collaboration with other automakers to cut EV battery costs. BYDBYDCOH.UL and other lowcost Chinese electric vehicle makers are now one of the biggest challenges to Ford39;s global […]
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Falling Power Prices Threaten DebtLaden EDFs Revival

PARIS, Feb 15 Reuters Falling electricity prices are slowing EDF39;s negotiations with industrial customers for longterm contracts, four sources and experts say, threatening the debtladen energy group39;s longterm finances and ability to keep its aging nuclear plants running. Financial results for 2023 on Friday will likely show progress in cutting some of EDF39;s 65 billion […]
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Oil Demand Growth Slowing, nonOPEC Supply Expands, says IEA

IEA trims 2024 oil demand growth forecast Raises supply growth estimates Expects slight build in inventories in Q1 despite OPEC cuts Oil prices dip after report LONDON, Feb 15 Reuters Global oil demand growth is losing momentum, the International Energy Agency IEA said on Thursday as it trimmed its 2024 growth forecast, in sharp contrast […]
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U.K.s Inflation Steady, Golds Consolidation Phase

Previous Trading Days Events 14 Feb 2024 The U.K.s inflation report yesterday showed that it holds steady at 4 in January. Unexpected and defied analyst forecasts of a rise which is why the GBP has weakened at the time of the release. Investors formed expectations that cutting interest rates this year is more likely to […]
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