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Reuters
Exclusive-Schlumberger faces employee backlash in Russia over cooperation on draft
Some of oilfield service firm Schlumberger’s more than 9,000 Russian employees have begun receiving military draft notices through work, and the company is not authorizing remote employment to escape mobilization, according to people familiar with the matter and internal documents. Schlumberger’s cooperation with authorities by delivering the military call-ups and its refusal to allow Russian staff to work outside the country has caused a backlash, according to the sources. Russian law requires companies to assist with delivering a summons to employees and to conduct a military registration if at least one of its employees is liable for service, according to advocacy group Business & Human Rights Resource Centre, which tracks corporate performance on human rights issues.
Oilprice.com
Can Suriname Replicate Guyana’s Oil Boom?
Suriname has suffered a number of setbacks recently, but it is still aiming to exploit the gigantic offshore Guyana-Suriname oil basin
Bloomberg
Home Prices Fall for 7th Month in Canada on Mortgage-Rate Spike
(Bloomberg) — Canadian home prices dropped for a seventh month in a row in September, and have now declined almost 9% since the peak, as rising borrowing costs keep buyers on the sidelines. Most Read from BloombergWorld Faces New Threats From Fast-Mutating Omicron VariantsStocks Surge in Wild Ride After CPI Data Selloff: Markets WrapKroger Wants to Merge With Albertsons to Create US Grocery GiantCore US Inflation Rises to 40-Year High, Securing Big Fed HikeHot Inflation Torches Bears in a Stock
Reuters
Gold eases as U.S. inflation data fans fears of sharp rate hikes
Gold prices fell on Thursday as a higher-than-expected rise in U.S. September inflation cemented bets the Federal Reserve will persist with aggressive interest rate hikes. U.S. gold futures settled almost flat at $1,677.00. The U.S. consumer price index (CPI) rose 0.4% last month after gaining 0.1% in August, the Labor Department said.
Motley Fool
Why Proterra Stock Is Sinking This Week
Proterra’s (NASDAQ: PTRA) mission is to advance electric vehicle (EV) technology in the commercial sector. The company builds electric buses, and also provides battery technology, drive trains, and charging solutions for heavy-duty commercial vehicles. Now, a long-delayed EV from the best-known manufacturer in the space is going into production, and Proterra is about to face major competition in its fastest-growing business segment.
MarketWatch
Apple gets into the savings game as it deepens financial push
Apple Inc. is deepening its involvement in the world of financial services. The consumer-electronics company plans to let Apple Card users park their Daily Cash in a high-yield Goldman Sachs savings account, according to a Thursday press release. Cardholders can choose to open this savings account and have their Daily Cash, the company’s form of cash-back rewards, put in the account automatically, once the product rolls out “over the coming months.”
Reuters Videos
Kroger-Albertsons merger to create supermarket titan
STORY: U.S. grocery giant Kroger, owner of Ralphs and Fred Meyer, said on Friday it will buy smaller rival Albertsons in a $24.6 billion deal.The mega-merger would create a supermarket behemoth with enough heft to take on industry titan Walmart.The merger between the No. 1 and 2 standalone grocers in the United States will bring together over 2,200 Albertsons locations and more than 2,700 Kroger stores.But the deal stands to draw plenty of government scrutiny: some analysts warn the merger could crimp competition, and mean even higher prices for American shoppers.Aiming to ease those worries, the companies said they will likely shed some stores, and Albertsons said it’s ready to spin off a standalone unit before it closes the Kroger deal. Market leader Walmart has been doubling down on its own grocery business and has traditionally used its scale to demand the lowest possible prices from food and beverage suppliers.The marriage between Kroger and Albersons could give the new company Walmart-size command over its negotiations with suppliers. That sort of clout may be vital at a time when prices of groceries and essentials are soaring in the country.
Zacks
PNC Financial (PNC) Q3 Earnings & Revenues Beat Estimates
Higher net interest income and loan growth, along with declining expenses, aid PNC Financials’ (PNC) Q3 results. A fall in fee income and deposits were major headwinds for the company.
Motley Fool
Is Nvidia Stock Cheap Enough to Buy?
In this video, I will be talking about the state of Nvidia (NASDAQ: NVDA) and whether investors should jump in now that the stock is down 60% year to date. Recently, semiconductor stocks took a hit because of the new U.
CoinDesk
Fed’s Michael Barr: Crypto ‘Unlikely’ To Grow Into Money Substitutes
Federal Reserve Vice Chair for Supervision Michael Barr spoke at a DC Fintech Week event, noting that crypto is “unlikely to grow into money substitutes and become a viable means to pay for transactions” due to the high volatility. Plus, he explains why stablecoins could post potential risks to financial stability.