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By Michael S. Derby (Reuters) -Americans grew more worried about the economic outlook in February even as their expectations of the future path of inflation were little changed, a report on Monday from the Federal Reserve Bank of New York said. According to the bank’s latest Survey of Consumer Expectations, inflation a year from now is seen at 3.1%, up a hair from January’s 3% reading, while the projected level of inflation three and five years from now was unchanged relative to January at 3%. The Fed wants inflation at 2%. The bank’s relatively calm outlook for inflation contrasted, however,…

By Arathy Somasekhar HOUSTON (Reuters) – U.S. oil and gas producers are unlikely to increase spending this year and output increases will primarily come from improved efficiencies rather than new drilling, Baker Hughes (BKR) Chief Executive Lorenzo Simonelli said on Monday. NasdaqGS – Delayed Quote • USD At close: March 10 at 4:00:00 PM EDT The outlook comes as U.S. President Donald Trump’s administration has repeatedly exhorted the industry to “Drill, baby, drill,” to maximize oil and gas production and reduce consumer energy costs. Still, oil prices have fallen this year and many producers remain focused on capital discipline over…

By Chris Kirkham (Reuters) – Tesla’s (TSLA) stock has dropped by nearly half in three months. Even so, investors are still debating whether Elon Musk’s electric-vehicle maker remains overpriced. NasdaqGS – Delayed Quote • USD At close: March 10 at 4:00:03 PM EDT The company’s market capitalization has dropped 45% since hitting an all-time high of $1.5 trillion on December 17, erasing most of the gains the stock made after CEO Musk helped finance the election victory of U.S. President Donald Trump. And yet Tesla continues to fetch a valuation far above those of the world’s biggest automotive and technology…

By Marie Mannes STOCKHOLM (Reuters) -Scania said on Monday it had secured a new supply of battery cells in addition to its deal with Northvolt, as the Swedish truckmaker warned it will miss its 2025 targets to cut emissions due in part to problems with electric battery deliveries. Northvolt, once considered Europe’s best hope for an electric vehicle battery champion, filed for U.S. Chapter 11 bankruptcy protection last November and is seeking to raise cash and restructure its debt. Reuters in January reported that Scania, which is Northvolt’s top customer and a shareholder, had stepped in to help Northvolt with…

By Michael S. Derby (Reuters) -Americans grew more worried about the economic outlook in February even as their expectations of the future path of inflation were little changed, a report on Monday from the Federal Reserve Bank of New York said. According to the bank’s latest Survey of Consumer Expectations, inflation a year from now is seen at 3.1%, up a hair from January’s 3% reading, while the projected level of inflation three and five years from now was unchanged relative to January at 3%. The Fed wants inflation at 2%. The bank’s relatively calm outlook for inflation contrasted, however,…

By Joel Jose (Reuters) – Wall Street brokerages on Monday started coverage on SailPoint Technologies with broadly bullish views, but some analysts warned that the identity security provider could face increased competition. SailPoint, which was previously listed in 2022 before being taken private by growth capital firm Thoma Bravo, made a tepid return to the stock market in February. Morgan Stanley and Goldman Sachs led the underwriting for the initial public offering. With the mandated “quiet period” over, Morgan Stanley, Goldman Sachs and J.P. Morgan started coverage of the stock with a “neutral”-equivalent rating, citing competition from CyberArk, Okta and…

By Tom Westbrook SINGAPORE (Reuters) – The euro was riding at five-month highs on Wednesday on Ukraine’s readiness to accept a month-long ceasefire, while stocks whipsawed on back-and-forth U.S. tariff plans and concern about a U.S. economic slowdown. European equity futures jumped 0.8% and FTSE futures rose 0.3% after the U.S. said it would restore military aid and intelligence sharing to Ukraine after Kyiv said it would accept a U.S. ceasefire proposal. Russia is yet to respond. A man takes a photo next to an electronic stock quotation board inside a building in Tokyo The euro hit its highest since…

By Alessandro Parodi (Reuters) – China in February again led purchases of electric vehicles, which increased worldwide versus a year ago, even as European Union tariffs on China-made EVs reduced sales of some brands, research firm Rho Motion said on Wednesday. Overall sales, including battery electric and plug-in hybrid vehicles, rose by 49% in February year-on-year to 1.2 million, but the researchers said the figure was distorted by the timing of Chinese New Year. Compared with January, figures were down 3%. The EU imposed tariffs on China-made cars at the end of October after an anti-subsidy investigation. Rho Motion Data…

By Arunima Kumar (Reuters) – Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump’s proposal that Moscow and Kyiv temporarily stop attacking each other’s energy infrastructure, a move that could eventually pave the way for Russian oil to enter global markets. Brent crude futures were down 59 cents, or 0.84%, to $69.97 a barrel at 0924 GMT. U.S. West Texas Intermediate crude (WTI) was down 60 cents, or 0.90%, at $66.30. Russian President Vladimir Putin agreed on Tuesday to stop attacking Ukrainian energy facilities but stopped short of endorsing a full 30-day ceasefire that Trump hoped…

By Rishav Chatterjee (Reuters) – Australian department store owner Myer on Wednesday posted lower interim earnings, citing logistical challenges at a distribution centre in Victoria and strategic review costs, while painting a gloomy outlook due to weak economic conditions. The firm, which finalised the purchase of the apparel brands portfolio from rival Premier Investments in January, said the sales for the first five weeks in the second half of the fiscal year were already down by 2.6%. Shares in Sydney dropped 10.5% to A$0.68 and hit their lowest since June 24, 2024. Total sales at the retailer were A$1.83 billion…