Author: Press Room
By Ambar Warrick Investing.com — Oil prices rose slightly in early Asian trade on Tuesday as markets weighed a surprise output cut by the OPEC+ against fears of slowing economic growth after a barrage of weak manufacturing indicators from across the globe. Crude prices rallied to multi-month highs on Monday after the Organization of Petroleum Exporting Countries and allies (OPEC+) unexpectedly said it will cut output by over 1.6 million barrels per day (bpd), pointing to tighter supply in the coming months. But this was also accompanied by a slew of weak manufacturing data from across the globe, which played…
By Peter Nurse Investing.com – The U.S. dollar drifted lower in early European trade Tuesday as returning confidence in the global banking sector weakened demand for this safe haven. At 04:00 ET (07:00 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 102.320. The banks index rose 3.1% on Monday, helped by the news that First Citizens BancShares (NASDAQ:) would acquire the deposits and loans of Silicon Valley Bank, which failed earlier this month, as well as reports from Bloomberg that U.S. authorities were considering more support for banks. Signs of…
WASHINGTON (Reuters) – The World Bank on Thursday lifted its 2023 economic growth forecast for eastern Europe and central Asia to 1.4% from an earlier 0.1% prediction, citing improved outlooks for both Russia and Ukraine despite their ongoing war. The regional forecast, released just days before the World Bank and International Monetary Fund hold their annual spring meetings, has Ukraine’s economy growing by 0.5% this year following a staggering contraction of 29.2% in 2022, the year Russia launched its invasion. “While the economic toll suffered by Ukraine as a result of the invasion is enormous, the reopening of Ukraine’s Black…
When we established Circulate Capital four years ago, we knew we wanted to be based in Southeast Asia where there was (and still is) an enormous opportunity to invest in and scale companies that are developing crucial solutions to solve the plastic waste crisis. So why Singapore? For those who read this column, you’ll know that I’ve recently spent some time reflecting on how far we’ve come in four years and how much further we still have to go to achieve our ambitions. And one of the things I’ve realized is that where you decide to set up your fund…
Key Takeaways Exxon Mobil believes that over the next decade, low carbon investments could be worth more than their traditional oil producing business Most energy producers are now putting greater investment into green technology, such as biofuels, hydrogen, wind and solar, though it still makes up a minor part of their revenue Oil companies stock has performed very well over the last year with Exxon Mobil stock up 37.21% Exxon Mobil is predicting that the market for low carbon clean energy is going to be worth trillions over the next decade. That might not come as a massive surprise to…
Key Takeaways CPI, PPI And Fed Minutes Later This Week Situation In Taiwan Continues To Escalate Bank Stocks Kick Off Earnings Season It was a quiet week for stocks. Major indices were relatively unchanged on the holiday shortened week, although we are on a 3 week winning streak. Volume was also light with many schools out on break and people out of town. That could all change this week though with a bunch of economic data scheduled to be reported and then banks reporting earnings starting on Friday. Last Friday’s jobs report had investors on edge, not just just because…
Pharmaceutical giant Johnson & Johnson JNJ wants to do a one-time lump sum payment of at least $8.9 billion to thousands of talc-powder claimants. J&J is still facing more than 38,000 cases that allege its talc products including baby powder caused cancer. For Black women, who were selected by J&J as “the right place” to sell more baby powder to, specifically targeting “under-developed geographical areas,” this is perhaps an opportunity for financial reciprocity. The Breakdown You Need To Know: J&J planned to dance a “Texas two-step” through its subsidiary, LTL Management, as part of a legal strategy that allows companies…
Check out the companies making headlines in premarket trading.Micron Technology – Shares jumped more than 6% following news that Samsung Electronics plans to cut memory chip production near term. Many Wall Street analysts said the move could accelerate a recovery within the memory chip industry.Pioneer Natural Resources – The stock popped 7% before the bell after the Wall Street Journal reported that Exxon Mobil has held informal talks to acquire Pioneer. Exxon shares fell 0.6%.Tesla – The electric vehicle stock fell nearly 2% before the bell. Tesla said it plans to build a “megapack” battery factory in Shanghai and cut…
Police in Japan have arrested two men for contaminating a communal bowl of pickled ginger at a fast food restaurant, after a video of the prank was shared widely on social media. The arrests come as similar acts involving food, dubbed online as “#sushitero” or “#sushiterrorism”, appear to be becoming more commonplace. Previously, the pranks had mostly affected the country’s famous sushi conveyor belt restaurants, prompting questions about their future. Ryu Shimazu, 35, and Toshihide Oka, 34, were accused of obstruction of business and property damage, Osaka police told CNN, after the duo used their own chopsticks to eat red…
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