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  • Aug 27, 2024

Oil pauses gains after surging on Libyan outages, Middle East tension

BEIJING (Reuters) -Oil prices paused recent advances to trade in a range on Tuesday, after a surge of more than 7% in the previous three sessions, on supply concerns prompted by fears of a wider Middle East conflict and the potential shutdown of Libyan oil fields. Brent crude futures was up 3 cents at $81.46 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude futures dropped 6 cents to $77.36 a barrel. "Losses in oil prices may seem contained in today's session, which suggest prices taking a breather following a sharp rally over the past few days," said Yeap Jun Rong, market strategist at IG.

  • Aug 27, 2024

Oil Steadies After Three-Day Rally as Libya Adds to Supply Woes

(Bloomberg) -- Oil steadied after a three-day rally, with the threat of a halt in Libyan supply countered by a still-shaky demand outlook. Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityWith Housing Costs High, Democrats Hone YIMBY MessageBrent crude traded above

  • Aug 27, 2024

Goldman cuts oil outlook below $80 as OPEC+ risks send chill

(Bloomberg) -- Wall Street is beginning to sour on the outlook for crude next year, with Goldman Sachs Group Inc. and Morgan Stanley lowering price forecasts as global supplies increase, including potentially from OPEC+.Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest

  • Aug 27, 2024

Chatterjee Group Seeks Indian State Oil Firms’ Partnership for $10 Billion Project

(Bloomberg) -- US-based private equity firm The Chatterjee Group is seeking to partner with Indian state-run companies for its oil-to-chemicals project in the nation, according to people familiar with the matter.Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityWith

  • Aug 27, 2024

PDD’s $55 billion stock crash sends warning on Chinese economy

(Bloomberg) -- One of the last remaining bright spots for Chinese consumption is rapidly fading, as the nation’s economic malaise takes a toll on demand for even the most accessible of goods.Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityWith Housing Costs High,

  • Aug 26, 2024

U.S. Latinas contributed $1.3 trillion to the GDP, about as much as Florida's economy, report finds

Latinas contributed $1.3 trillion to the U.S. gross domestic product in 2021, up from $661 billion in 2010 and at a growth rate nearly triple that of non-Latinos during the same time period, according to a new report funded by Bank of America and conducted by professors at California Lutheran University and UCLA. The report was compiled using publicly available economic and demographic data from U.S. agencies and shows “that Latinas are drivers of economic vitality in the United States, giving life to the U.S. economy,” said economist Matthew Fienup, one of the study's authors and executive director of California Lutheran University's Center for Economic Research & Forecasting during a Zoom briefing presenting the findings on Monday. “Latinas outpace their gender and ethnic peers in key economic measures, including record levels of Latina workforce participation, educational attainment, and income growth,” he added in a press release.

  • Aug 26, 2024

Kroger and Albertsons defend merger plan in federal court against US regulators' objections

Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn't allowed to proceed. In the three-week hearing that opened Monday, the FTC is seeking a preliminary injunction that would block the merger while its complaint goes before an in-house administrative law judge. Musser said Kroger and Albertsons currently compete in 22 states, closely matching each other on price, quality, private label products and services like store pickup.

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