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Global pensions with $3 trln on books fear stagflation -survey

LONDON, Dec 6 (Reuters) – Global public pension schemes and sovereign wealth funds managing more than $3 trillion in assets fear a combination of economic slowdown and higher inflation in the next 12-24 months, a survey showed on Tuesday. The investors face huge challenges in switching their portfolios to cope, according to think tank OMFIF, …

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Tesla cuts Dec Model Y output at Shanghai plant by more than 20% versus Nov – sources

SHANGHAI, Dec 5 (Reuters) – Tesla (TSLA.O) plans to cut December output of the Model Y at its Shanghai plant by more than 20% from the previous month, two people with knowledge of electric vehicle (EV) giant’s production plan said on Monday. Tesla did not immediately respond to a request for comment on the planned …

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BP doubles down on hydrogen as fuel of the future

BP sees fast growth in low-carbon hydrogen Fuel to benefit from government subsidies CEO Looney to announce hydrogen production targets BP plans big hydrogen project at Whiting, Indiana refinery LONDON, Dec 5 (Reuters) – BP chief executive Bernard Looney is betting on hydrogen to power future low-carbon businesses as the governments of major economies stump …

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Bankman-Fried says he will testify before the US House committee

Dec 4 (Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The US House Financial Services Committee plans to hold a hearing in December to investigate the …

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Apple and Amazon resume advertising on Twitter, reports say

Dec 3 (Reuters) – Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O) are planning to resume advertising on Twitter, according to media reports on Saturday. The developments follow an email sent by Twitter on Thursday to advertising agencies offering advertisers incentives to increase their spending on the platform, an effort to jump-start its business after Elon …

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Amgen says experimental obesity drug has promising durability

LOS ANGELES, Dec 3 (Reuters) – Amgen Inc’s ( AMGN.O ) experimental obesity drug demonstrated promising durability trends in an early trial, paving the way for a larger mid-stage study early next year, company officials said ahead of a data presentation on Saturday. The small Phase I trial found that patients maintained their weight loss …

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Exclusive: Delta offers pilots hefty pay raises as unions flex bargaining power

CHICAGO, Dec 2 (Reuters) – Delta Air Lines (DAL.N) has offered a 34% cumulative pay increase to its pilots over three years in a new contract, demonstrating the bargaining power aviators are enjoying in a short-staffed industry with booming travel demand. If the deal is approved by Delta pilots, it is widely expected to act …

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