LONDON—Oil prices dipped on Monday after weak economic data from top consumers the United States and China, although expected crude supply cuts from Saudi Arabia and Russia limited losses. Brent crude futures fell 40 cents, or 0.5 percent, to $78.07 a barrel by 1005 GMT, and U.S. West Texas Intermediate crude was also off 40…
Stocks Take a Breath While Bonds Choke on China Disinflation Drag
July 10, 2023
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LONDON/SYDNEY—Global stocks took a breath on Monday after a surprisingly low reading on Chinese inflation and ahead of data on U.S. inflation and corporate earnings later in the week. The pan-European STOXX 600 index rose 0.1 percent by 0840 GMT while US stock S&P futures declined 0.2 percent and Nasdaq futures fell by 0.3 percent….
IN-DEPTH: ‘It Would Be Devastating’: Local Officials Warn of Wind Turbine Development’s Impact to Jersey Shore’s Tourism Industry
July 8, 2023
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Serene beachside views that bring in a lucrative tourism industry could be cut to ribbons if wind companies succeed in constructing fleets of monopole turbines along the east coast. Orsted, a wind energy company 51 percent owned by the Danish government, has plans to install 200 turbines throughout 161,000 acres of ocean nine miles off…
Union Workers Make Safety Complaints at GM’s Electric Vehicle Plant
July 8, 2023
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Union workers at a General Motors electric vehicle plant have been complaining of safety issues. Workers at a GM Ultium electric vehicle plant confronted caught a defective battery on fire late last month, reported the Financial Times. According to the fire department in Lordstown, Ohio, the factory workers were able to put it out, with two people…
Jobs Prints Lower Than Expected, Core Inflation Remains Stubborn
July 7, 2023
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Commentary Total nonfarm payroll employment, relased this morning, increased by 209,000 in June, and the unemployment rate changed little at 3.6 percent. Just 149,000 of those jobs were in the private sector; 60,000 were in government. Revisions from April and May resulted in 110,000 fewer jobs than originally reported for those two months. That’s the…
Oil Prices Set for 2nd Straight Weekly Gain After US Data
LONDON—Oil prices rose on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a larger-than-expected fall in U.S. oil stockpiles, offsetting fears of higher U.S. interest rates. Brent crude futures were up 36 cents, or 0.5 percent, at $76.88 a barrel at 1114 GMT, while U.S. West Texas…
Stock Market Today: Asian Shares Fall as Strong US Data Dash Hopes for an End to Rate Hikes
July 7, 2023
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BANGKOK—Asian shares slipped Friday after another decline on Wall Street, where hopes for an end to interest rate hikes were again dashed by strong jobs data. U.S. futures fell and oil prices were higher. Investors were watching for updates from U.S. Treasury Secretary Janet Yellen’s visit to Beijing. Tokyo’s Nikkei 225 shed 0.6 percent to…
Contradictory: Musician Bob Geldof Pans Claims of ‘Climate Positive’ Olympic Games
July 6, 2023
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Irish singer and political activist Bob Geldof has questioned claims that the 2032 Olympic Games will be “climate positive” and green. “I take the point that you’ve still got to extract minerals to get to a green policy: it seems odd and contradictory, but there you go,” he said in an interview with Queensland State…
Contradictory: Musician Bob Geldof Criticises Claim That Olympics Are ‘Climate Positive’
July 6, 2023
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Irish singer and political activist Bob Geldof has questioned claims that the 2032 Olympic Games will be “climate positive” and green. “I take the point that you’ve still got to extract minerals to get to a green policy: it seems odd and contradictory, but there you go,” he said in an interview with Queensland State…
Finland Goes Nuclear, Sees Energy Prices Drop 75 Percent
Finland is leading the way in cheaper energy prices for its citizens. In April this year, Finland’s Olkiluoto 3 nuclear reactor started regular output and should meet around 14 percent of Finland’s electricity demand. Expected to produce energy for at least 60 years, the new reactor has created energy prices that are 75 percent cheaper….
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