TOKYO—Global shares advanced Friday, tracking a rally on Wall Street following reports suggesting the economy and corporate profits may be doing better than feared. France’s CAC 40 gained 0.2 percent to 7,107.44. Germany’s DAX was unchanged at 15,134.04, while Britain’s FTSE 100 rose nearly 0.2 percent to 7,773.10. The future for the Dow Jones Industrial…
Global Shares Edge Higher, Tracking Wall Street Rally
January 27, 2023
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New GOP Bill to Block Sales of SPR Oil to China
January 26, 2023
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Business & MarketsCCPChinacongresseconomyenergyPoliticsStrategic Petroleum ReserveUSUS NewsUS-China relations
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Sen. Ted Cruz (R-Texas) on Jan. 25 proposed legislation that seeks to block the United States from selling oil from the Strategic Petroleum Reserve (SPR) to China and Chinese Communist Party (CCP)-owned companies. The bill “Protecting America’s Strategic Petroleum Reserve from China Act” (pdf) was co-sponsored by 15 other Republican senators. “The Strategic Petroleum Reserve…
Petroleum Analyst Issues Warning to Drivers: Gas Prices to Rise Again to $4
Americans should be wary of gas prices again rising starting in the spring, said one petroleum analyst, who warned that a gallon of regular gas could hit $4 again. “It’s a question of when, not if. I think something like that could happen by potentially April, maybe sooner,” GasBuddy petroleum analyst Patrick De Haan told…
US Certifies First Small Modular Nuclear Reactor Design for Use
January 26, 2023
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The U.S. Nuclear Regulatory Commission (NRC) has certified the design for the first American-designed small modular nuclear reactor (SMR). The NRC issued its final ruling in the Federal Register on Jan. 19 to certify the emissions-free small modular reactor by the Oregon-based NuScale Power, which will take effect on Feb. 21. The final determination prevents the SMR from…
Renewable Power Projects Slow in US Over High Costs and Community Opposition
January 26, 2023
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The installation of wind and solar power projects is slowing down in the United States, with some projects being canceled over persistent cost issues and community animosity. New utility-scale solar installations are estimated to have fallen by 40 percent in 2022 compared to the previous year, according to a report from research firm Wood Mackenzie….
Oil Prices Firm on China Demand Optimism
January 26, 2023
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LONDON—Oil prices rose 1 percent on Thursday on expectations that demand will strengthen as top oil importer China reopens its economy and on news U.S. crude inventories have risen less than expected. Brent crude futures rose 78 cents, or 0.9 percent, to $86.90 a barrel by 1046 GMT. U.S. West Texas Intermediate (WTI) crude futures…
Hopes of Slowdown in Rate Hikes Bolster Shares Ahead of US GDP
January 26, 2023
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LONDON—Stocks firmed on Thursday as investors bet that central banks meeting next week will signal a slowdown or even a pause in interest rate hikes for later in the year to make recession less likely and ease pressure on corporate earnings. Oil prices were steady after U.S. crude stocks rose less than expected, while gold…
West Virginia Targets Proxy Voting in Fight Over ESG
January 25, 2023
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In a Jan. 25 interview with The Epoch Times, West Virginia Treasurer Riley Moore outlined a new state bill intended to ensure that proxy voting for shareholders isn’t a vehicle for environmental, social, and governance (ESG) principles that undercut the interest of those shareholders. “ESG is obviously a nonsensical investment strategy that has been distorting…
German Business Morale Brightens Further in January: Ifo
BERLIN—German business morale brightened in January as Europe’s largest economy started the new year with easing inflation and an improved outlook, a survey said on Wednesday. The Ifo institute said its business climate index rose to 90.2, in line with consensus according to a Reuters poll of analysts and up from a reading of 88.6…
Oil Slips as Recession Fears Offset Market Optimism for China’s Demand Recovery
January 25, 2023
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LONDON—Oil slipped on Wednesday, adding to a decline in the previous session, as global recession worries edged out optimism for a demand recovery in China. Crude has rallied in 2023, with global benchmark Brent crude topping $89 a barrel this week for the first time since early December, on the ending of China’s COVID-19 controls…
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