China’s central bank, the People’s Bank of China (PBOC), is taking steps to cool the country’s surging bond market. The central bank is concerned about the potential risks associated with the recent rally, deeming it …
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US Producer Prices Rise Slightly in June, but Inflation Pressures Ease
The US producer price index (PPI) climbed 0.2% in June, exceeding expectations, driven by a rise in the cost of services. However, the overall trend suggests inflation pressures are easing. The PPI, which measures prices …
Continue readingJapan Hints at Yen Intervention as Currency Surges on Rate Cut Bets
Japan’s government is stepping up warnings about the yen’s weakness and hinted at possible intervention in the currency market. Officials expressed concern about recent yen moves being “out of line with fundamentals” and highlighted the …
Continue readingGM to Invest $900 Million in Michigan Plant for EV Production
General Motors (GM) is set to invest at least $900 million to retool its Lansing Grand River Assembly Plant in Michigan for electric vehicle (EV) production. This announcement came from Energy Secretary Jennifer Granholm, who …
Continue readingRecord $241 Million Oil Pollution Penalty for Marathon Oil
The US government has announced a record $241 million settlement with Marathon Oil for alleged air pollution violations at its oil and gas facilities on the Fort Berthold Indian Reservation in North Dakota. The settlement, …
Continue readingOil Prices Rise on US Inflation Data, Rate Cut Hopes
Oil prices climbed on Thursday, with the Brent benchmark rising above $85 a barrel, driven by hopes of interest rate cuts in the United States. The surge followed data revealing a slowdown in US inflation, …
Continue readingPepsiCo’s Q2 Revenue Misses Expectations as Price Hikes and Competition Bite
PepsiCo reported disappointing second-quarter results on Thursday, missing revenue expectations due to slowing sales of snacks and beverages, primarily in the United States. The company’s revenue came in at $22.50 billion, falling short of analysts’ …
Continue readingEA or Roblox: Jefferies Analyst Weighs in on Gaming Stocks
Jefferies analysts have initiated coverage on Electronic Arts (EA) with a Buy rating and Roblox (RBLX) with a Hold rating. They see EA as a more attractive investment due to its strong game pipeline and …
Continue readingBHP Suspends Nickel Operations in Western Australia Amid Market Slump
BHP Group, the world’s largest listed miner, is temporarily suspending its Nickel West operations and West Musgrave project in Western Australia, effective October. This decision comes amid a significant decline in nickel prices and an …
Continue readingTesla Raises Model 3 Prices in Europe Due to Chinese EV Tariffs
Tesla has raised prices of its Model 3 electric vehicles in several European countries, including Germany, the Netherlands, and Spain. The price hike, which amounts to €1,500, is attributed to new tariffs imposed by the …
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