Business

Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build

Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Register now for FREE unlimited access to Reuters.com Register U.S. crude, gasoline stockpiles rise unexpectedly – EIA OPEC+ decides on small 100,000 bpd increase to output target U.S. had …

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Dow futures gain slightly after the three major averages notched a second day of losses

Dow futures gain slightly after the three major averages notched a second day of losses

European markets mixed as cautious sentiment persists; Avast up 42% European stocks were mixed on Wednesday, continuing the cautious regional trend this week. The pan-European Stoxx 600 slipped 0.2% in early trade, with autos falling 1.5% while tech stocks gained 1.2%. It’s a busy day for earnings in Europe, with Commerzbank, SocGen, BMW, Banco BPM, …

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BP profits highest in 14 years, raking in $8.5B amid gas pump pinch

BP profits highest in 14 years, raking in $8.5B amid gas pump pinch

Comment on this story Comment LONDON — BP reported a profit of $8.5 billion for its second quarter on Tuesday, its highest in 14 years, making it the latest oil giant to cash in on higher crude prices as Russia’s war in Ukraine has disrupted global energy markets. Just days earlier, the two biggest U.S. …

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U.S. considers crackdown on memory chip makers in China

U.S. considers crackdown on memory chip makers in China

WASHINGTON, Aug 1 (Reuters) – The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China’s semiconductor sector advances and protect U.S. companies. If President Joe Biden’s …

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Venture capital’s silent crash: when the tech boom met reality

Venture capital’s silent crash: when the tech boom met reality

The venture capital world is in the grip of a silent crash. Unlike the stock market, there are no daily market indexes to broadcast the pain, and no individual share prices for anxious tech employees to watch as their personal wealth evaporates. In fact, for many of the investors and entrepreneurs who have just lived …

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Tech's great layoffs: Over 30,000 tech employees lost their jobs as of July. These are their stories in their own words.

Tech’s great layoffs: Over 30,000 tech employees lost their jobs as of July. These are their stories in their own words.

Over 30,000 tech workers have lost their job as of July.  Insider spoke to employees from Tesla to Coinbase to hear their stories. These are their stories of the personal and economic toll of layoffs in the industry.  Loading Something is loading. According to the latest data from the US department of labor, unemployment claims …

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Market Rally Extends Momentum As Apple Pops, Amazon Soars

Market Rally Extends Momentum As Apple Pops, Amazon Soars

Dow Jones futures rose early Friday, along with S&P 500 futures and especially Nasdaq futures, as Apple (AAPL) and Amazon.com (AMZN) headlined another wave of overnight earnings. X The stock market rally showed strength Thursday, shrugging off a post-Fed pullback and weak earnings to move modestly higher. Key Earnings Overnight In addition to Apple and …

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US economy shrinks in second quarter, signaling unofficial start of recession

The US economy shrank again in the last three months, unofficially signaling the start of a recession. The commerce department announced Thursday that gross domestic product (GDP) – a broad measure of the price of goods and services – decreased at an annualized rate of 0.9% in the second quarter after falling at an annualized …

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