Reuters Financial News

Oil prices eased in early trade on Wednesday, weighed down by fears U.S. interest rates could stay higher for longer and economic growth could slow further in top crude importer China and hurt fuel demand. Brent crude dipped 17 cents, or 0.2%, to $83.86 a barrel by 0031 GMT while U.S.

maritime artery, the Suez Canal. This maritime mishap was reported by ship tracking company Marine Traffic, which drew on accounts of eyewitnesses present during the incident. The LNG tanker BW Lesmes is scheduled to be towed to the Suez anchorage after encountering a halt within Egypt's Suez Canal, as per information from shipping sources shared with Reuters.

Indian stock market is expected to open on a weak note Wednesday following losses in global peers amid lower risk appetite. Asian markets fell while US stocks indices ended lower overnight as investors awaited clarity on the US Federal Reserve monetary policy outlook from Fed chair Jerome Powell’s speech at a meeting in Jackson Hole on Friday. On the domestic front, the Indian equity indices, Sensex and Nifty, ended flat on Tuesday despite positive trends in global markets.

By Safiyah Riddle

Reuters report citing analytics platform Similarweb data, daily active users on Android version of Threads app fell to 10.3 million from the peak of 49.3 million in a period of over a month.

real estate sector as expected to put lenders' creditworthiness to the test, reported Reuters. Banks have been forced to pay out higher interest rates in order to prevent depositors from running away to other high-yielding options due to the US Federal Reserve's unrelenting campaign of rate hikes.

By Andrew Hay and Liliana Salgado

By Howard Schneider

pilots plan to form an association to challenge flying duty regulations they say cause fatigue and jeopardise safety after an IndiGo pilot collapsed and died before his flight. Former pilots have taken to social media and newspaper columns to publicly raise concerns that airlines, though operating within regulatory frameworks, are stretching them to the brink as air travel booms in India. The sudden death last week of an IndiGo pilot heightened those worries although India's biggest airline says he had a 27-hour break before duty and was in good health.Captain Shakti Lumba, a retired vice president at IndiGo, has garnered the support of hundreds of pilots who plan to come together with an existing group of 600 to raise awareness and lodge concerns over fatigue with authorities and airlines. «The main focus of the group will be compliance with international standards and recommended practices, flight safety and pilot fatigue — which is a clear and present danger to (the) safety of aircraft operations in India,» said Lumba, who was involved in setting up IndiGo's operations from 2005. India's aviation watchdog did not respond to a Reuters request for comment. In the United States, regulators allow flights manned by two pilots to serve maximum duty time of 14 hours during the day and 9-10 hours for late-night flights.

By Natalie Grover and Paul Carsten

By Juveria Tabassum and Ananya Mariam Rajesh

Arm Ltd filed for its initial public offering (IPO) in the US on Monday, in what is likely to be the biggest listing of the year. The company has not disclosed the size of the offering.SoftBank plans to sell about 10% of Arm's shares in the IPO, seeking a valuation of $60-70 billion, Reuters reported.

Also Read: SoftBank’s Arm files for IPO that is set to be 2023’s biggest Additionally, Goldman Sachs is also pursuing the sale of its fintech business, GreenSky, and has sold the bulk of its unsecured consumer loans after it halted this category of lending last year, the Reuters report added. The shift in the bank’s strategy comes after CEO David Solomon restructured the company into three distinct units last year.

Moscow have suspended arrivals and departures today, Tuesday, August 22 after the Russian military brought down four Ukrainian drones near Moscow and over the Bryansk region that borders Ukraine, according to a report published by TASS News. Reuters reported that one of the drones was shot down over Krasnogorsk, a town outside Moscow, that hosts the Moscow regional government. Russia's defense ministry confirmed that there were no injuries in the latest attack.

storm Hilary flooded streets and triggered mudslides across Southern California. However, no US deaths were attributed to the storm and fears of disaster dissipated, according to a report published by Reuters. In California, Hilary arrived as a rare tropical storm that dumped 4 to 5 inches (1o to 12 cm) of rain on coastal areas and 10 inches (25 cm) or more in the mountains, the National Weather Service Meteorologist Richard Thompson said.

Tesla, the American electric carmaker, Monday in a legal disclosure said two of its former employees were behind a data breach that compromised personal information of over 75,735 people including staff, reported Reuters A total of 75,735 people were affected by the data breach, including nine residents of Maine. The people appear to be current or former employees of the Austin, Texas-based automaker.

By Tatiana Bautzer and Saeed Azhar

HRW) said on Monday. In a 73-page report, the rights group said Saudi guards used explosive weapons to kill some migrants and shot at others from close range. It compiled testimony from 38 Ethiopians who tried to cross the Yemen-Saudi border between March 2022 and June 2023, as well as four relatives or friends of migrants. Human Rights Watch said attacks against groups of migrants, who used remote mountain tracks to cross into Saudi Arabia by foot, were «widespread and systematic» and that the «killings are continuing». A Saudi official, who did not provide their name, said on Monday in an emailed response to questions to the government's media office that HRW's allegations were «unfounded and not based on reliable sources.» Saudi authorities have also strongly denied allegations made by U.N.

lending rate by 10 basis points and left its five-year rate unmoved, in a surprise to analysts who had expected cuts of 15 basis points to both. The recovery in the world's second largest economy has been slowed by a worsening property crisis, weak spending and lower credit growth.

By Chris Prentice

(Corrects first sentence to remove inaccurate description of Michael Bloomberg as CEO of Bloomberg LP)