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US stock investors should brace for a near-term pullback as positioning becomes increasingly stretched and key institutional buyers flip to sellers, according to Goldman Sachs Group Inc.’s John Flood.
Blackstone Inc.-backed data center operator QTS is in talks with banks for about $2 billion to help procure electricity, intensifying the race for ever-more creative forms of financing in the industry.
Opening arguments kick off legal battle over whether the $850bn start-up sold out its non-profit mission
China’s top refiner posted a strong first quarter as higher crude prices lifted inventory values and stable domestic fuel sales helped to offset pressure from disrupted Middle East supply. China Petroleum & Chemical Corporation (Sinopec) reported first-quarter net income of 17 billion yuan ($2.49 billion), up 28% from a year earlier, according to a Shanghai exchange filing. The results land as major oil companies begin showing how the Iran-driven supply shock is feeding through earnings. Throughput at Sinopec slipped 0.2% year over year…
Meredith Whitney, the CEO of Meredith Whitney Advisory Group, breaks down the illusion of a strong US consumer, revealing a widening gap between wealthy spenders and struggling households. She explains how government stimulus is temporarily masking deeper cracks, and why the economy could face a sharp reality check after the election. (Source: Bloomberg)
Erasca Inc. shares plunged as much as 55% Tuesday after the cancer-drug developer said one patient withdrew from its clinical trial and later died after suffering severe side effects related to the treatment.
President Luiz Inacio Lula da Silva plans to roll out a program to renegotiate more than 100 billion reais ($20 billion) in household debt, adding to a string of measures to support consumption as he seeks to bolster his popularity ahead of Brazil’s October election.
Investors are misjudging how much Strait of Hormuz closures could impact global flows of petrochemicals, said Enterprise Products Partners LP Chief Executive Officer Jim Teague, adding to a chorus of industry voices warning about lingering disruptions from the Iran war.
Wheat surged to the highest in nearly two years as drought in the US was pressuring yields at a time soaring fertilizer costs prompted farmers to pare back planting of nutrient-intensive crops such as grains.
President Donald Trump praised the "cherished" bond between the US and UK as he hosted King Charles III at the White House on Tuesday. (Source: Bloomberg)
A group of state attorneys general wrote to the US Securities and Exchange Commission and major credit-rating firms, raising concerns about the use of environmental, social and governance factors in downgrade decisions.
In leaked remarks, Christian Turner also says it is ‘extraordinary’ that Epstein scandal has not affected sex offender’s US associates
The oil and liquefied natural gas shortages caused by the blockade of the Strait of Hormuz are likely to drag on for months and possibly into next year, Shell Plc Chief Executive Officer Wael Sawan said.
Active lawsuits in Michigan and Wisconsin are targeting sections of Enbridge’s Line 5 pipeline over environmental concerns in a complex and ever-expanding legal fight. Michigan has an active state-court lawsuit against Enbridge, while in Wisconsin, the Bad River Band of Lake Superior Chippewa and environmental groups are challenging the pipeline in federal and state court. In April, the United States Supreme Court sided with Michigan that a ruling over a section of an ageing pipeline beneath a Great Lakes channel must stay in state court.…
Trump's blockade is having a predictable effect on Iran's economy and oil industry, with reports that the regime is scrambling to repurpose old and rusty tankers as floating storage. Kharg Island is hitting capacity and the results could lead to disaster for Iran's oil wells. The regime is reportedly moving to expand crude storage at the island, where around 90% of their energy exports are processed, by reactivating a 30-year-old crude carrier called M/T Nasha. It's a bad sign for Iran, indicating that the country’s main…
Hollywood studio under pressure in latest clash between US president and media critics
Chile’s pension regulator is further restricting the use of derivatives by pension funds ahead of a deadline for a new risk-based rules system later this year.
The United Arab Emirates will leave OPEC, dealing a blow to the group and its leader Saudi Arabia as the global oil industry grapples with the massive supply disruption caused by the Iran war. Joumanna Bercetche explains. (Source: Bloomberg)
Speaking with Bloomberg's Francine Lacqua at the Norges Bank Conference in Oslo, Formula 1 Chief Executive Officer Stefano Domenicali talks about the possibility of adding more races in the US. He says the demand from fans is very high. He also says it may only be possible to reschedule one of two races in the Middle East that were canceled earlier this season. (Source: Bloomberg)
Former executive told investigator examining company’s failure that audit firm had ‘most unsophisticated’ process
Bank of America Corp. expects this May to be the busiest since the Covid-19 pandemic for US investment-grade corporate bond sales, as companies rush to raise capital before rising oil prices and a strong US economy can weigh on borrowing costs.
The UAE's decision, after nearly 60 years of membership, is seen as a potential death knell for the oil cartel.
Brent crude rises after White House reiterates ‘red lines’ in negotiations with Tehran
Argentina is looking to purchase liquefied natural gas cargoes for its upcoming winter heating season, adding demand to a market already squeezed by the war in Iran.
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