Explore

DuPont lifts forecast as price hikes offset Iran war-driven costs

DuPont lifts forecast as price hikes offset Iran war-driven costs

By Pooja Menon May 5 (Reuters) - Industrial materials maker DuPont raised its annual profit and sales forecasts on Tuesday after beating first-quarter estimates, as price increases helped offset higher input costs driven by the U.S. and Israel's war with Iran.

Brazil's central bank warns of emerging inflation risks as Iran war drags on

Brazil's central bank warns of emerging inflation risks as Iran war drags on

BRASILIA, May 5 (Reuters) - The Brazilian central bank considered changing its view on inflation risk balance but ultimately maintained a level outlook despite the U.S.-Israeli war on Iran already raising inflation expectations, it said on Tuesday.

Spirit Airlines lawyer says high jet fuel prices left carrier no alternative but to shut down

Spirit Airlines lawyer says high jet fuel prices left carrier no alternative but to shut down

(Refiles to fix formatting in second paragraph) By Doyinsola Oladipo and David Shepardson WHITE PLAINS, New York, May 5 (Reuters) - A lawyer for defunct Spirit Airlines said on Tuesday that sharply higher jet fuel prices left "no remaining way out" of bankruptcy and forced the budget carrier's

Spirit Airlines lawyer says high jet fuel prices left carrier no alternative but to shut down

Spirit Airlines lawyer says high jet fuel prices left carrier no alternative but to shut down

By Doyinsola Oladipo and David Shepardson WHITE PLAINS, New York, May 5 (Reuters) - A lawyer for defunct Spirit Airlines said on Tuesday that sharply higher jet fuel prices left "no remaining way out" of bankruptcy and forced the budget carrier's shutdown, as it seeks approval for an expedited plan

Exxon using AI for faster analysis of Guyana's oil fields, VP of exploration says

Exxon using AI for faster analysis of Guyana's oil fields, VP of exploration says

By Curtis Williams HOUSTON, May 5 (Reuters) - Exxon Mobil is using artificial intelligence and new technology to interpret seismic data from Guyana in days rather than months, John Ardill, the company's vice president of exploration, said on Tuesday.

Middle East truce in doubt as US and Iran fight for control of Strait of Hormuz

Middle East truce in doubt as US and Iran fight for control of Strait of Hormuz

DUBAI/WASHINGTON, May 5 (Reuters) - The fragile truce in the Middle East was in jeopardy on Tuesday after the U.S. and Iran launched new attacks as they wrestled for control of the Strait of Hormuz.

Australia's central bank set to cool its heels after rapid-fire rate hikes

Australia's central bank set to cool its heels after rapid-fire rate hikes

By Stella Qiu and Wayne Cole SYDNEY, May 5 (Reuters) - Australia's central bank lifted rates for a third time this year on Tuesday, returning borrowing costs to post-pandemic highs and warning that inflation would remain sticky as the conflict in the Middle East unleashed a global oil shock.

Spirit Airlines seeks approval to pay retention payments as it ends operations

Spirit Airlines seeks approval to pay retention payments as it ends operations

By David Shepardson and Dietrich Knauth WASHINGTON, May 4 (Reuters) - Bankrupt discount carrier Spirit Airlines, which ceased operations on Saturday, asked a U.S. bankruptcy court for approval to pay retention bonuses to remaining employees and said it had no choice but to end operations.

US stock futures mixed as Middle East risks remain in focus

US stock futures mixed as Middle East risks remain in focus

May 4 (Reuters) - U.S. stock index futures were mixed on Monday, pointing to a cautious start to the week as investors assessed the growing U.S.-Iran standoff over the Strait of Hormuz, the crucial oil shipping route that remains shut.

Oil eases on signs US is loosening Iranian closure of Strait of Hormuz

Oil eases on signs US is loosening Iranian closure of Strait of Hormuz

By Anushree Mukherjee May 5 (Reuters) - Oil prices eased on Tuesday after climbing by as much as 6% in the previous session on signs the U.S. Navy is loosening Iran's closure of the key Strait of Hormuz waterway, potentially opening up supply from the key Middle East producing area.

Southwest weighs hiring Spirit Airlines mechanics ahead of Boeing MAX 7 arrival

Southwest weighs hiring Spirit Airlines mechanics ahead of Boeing MAX 7 arrival

By Allison Lampert May 4 (Reuters) - Southwest Airlines has expressed interest in hiring some aircraft mechanics from now-defunct Spirit Airlines, a union official said on Monday, as the U.S. low-cost carrier prepares to take Boeing's new 737 MAX 7 jet early next year.

Chevron CEO says shortages in oil supply will begin appearing

Chevron CEO says shortages in oil supply will begin appearing

By Erwin Seba HOUSTON, May 4 (Reuters) - Chevron Chairman and CEO Mike Wirth said on Monday that physical shortages in oil supply would begin appearing around the world because of the closure of the Strait of Hormuz, through which 20% of global crude supply passes.