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  • Aug 28, 2024

Fed Embraces Gradualism, a Familiar Policy for Uncertain Times

(Bloomberg) -- With a September interest-rate cut all but certain and attention turning to the pace of future reductions, Federal Reserve officials are coalescing around a gradual approach to the last mile of their inflation fight.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunA handful of policymakers at the Fed’s annual research symposium in Jackson Hole, Wyoming, last week made the case for low

  • Aug 28, 2024

Oil Slips as Technical Hurdle, US Stockpiles Data Weighed

(Bloomberg) -- Oil slipped again after dropping by more than 2% on Tuesday, with futures unable to climb above a key technical measure even as Middle East tensions remain in focus, with key US inventories data due coming.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunBrent traded below $79 a barrel, with West Texas Intermediate under $75. Traders’ attention was turning to weekly figures on stockpi

  • Aug 28, 2024

US clean energy jobs growth rate double that of overall jobs, report says

Jobs in the U.S. clean energy industry in 2023 grew at more than double the rate of the country's overall jobs, and unionization in clean energy surpassed for the first time the rate in the wider energy industry, the Energy Department said on Wednesday. Employment in clean energy businesses - including wind, solar, nuclear and battery storage - rose by 142,000 jobs, or 4.2% last year, up from a rise of 3.9% in 2022, the U.S. Energy and Employment Report said. Unionization rates in clean energy hit 12.4%, more than the 11% in the overall energy business, it said.

  • Aug 28, 2024

Cnooc Reports Higher First-Half Profit on Oil Drilling Boost

(Bloomberg) -- Cnooc Ltd., China’s largest offshore oil and gas producer, said first half profits rose on higher output and rising crude prices.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunNet income for the six months through June was 79.7 billion yuan ($11.2 billion), compared with 63.8 billion yuan in the same period last year, the state-owned company said in an exchange filing. Output rose t

  • Aug 28, 2024

Morning Bid: Market held in thrall ahead of Nvidia numbers

Nvidia is holding the investment world in thrall ahead of an earnings report later today that, even if it delivers the expected doubling of second-quarter revenue, may not satisfy investors accustomed to market-moving outperformance. The chipmaker's market value was around $390 billion on the eve of the launch of artificial intelligence (AI) chatbot, ChatGPT, less than two years ago. Trade in Asia was light and moves modest ahead of the release, and European equity futures were flat.

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