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  • Dec 12, 2024

Imperial Wants More Aid for $11 Billion Oil Sands Carbon Project

(Bloomberg) -- Imperial Oil Ltd., the Canadian oil sands unit of Exxon Mobil Corp., is calling for more government funding for the nation’s industry, which is embarking on a C$16 billion ($11 billion) endeavor to deploy carbon capture and storage technology and slash emissions by 2030. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing

  • Dec 12, 2024

Egg Inflation Gives Top US Producer Cal-Maine a 127% Stock Rally

(Bloomberg) -- As higher egg prices add to inflation for US consumers, producer shares are providing investors with outsized returns. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamShares of the top US egg supplier Cal-Maine Foods Inc. have more than doubled over the past year, gaining 127

  • Dec 12, 2024

Pakistan Bourse Plans to Launch Cash-Settled Futures by March

(Bloomberg) -- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamPakistan Stock Exchange Ltd. is looking to give traders the option of settling futures de

  • Dec 12, 2024

Eggs boost US producer prices in November, but services inflation slowing

WASHINGTON (Reuters) -U.S. producer prices increased by the most in five months in November, but easing costs of services such as portfolio management fees and airline fares offered hope that the disinflationary trend remains in place despite stalled progress. Other details of the report from the Labor Department on Thursday were, however, mostly favorable, prompting economists to sharply lower their estimates for the personal consumption expenditures (PCE) price measures tracked by the Federal Reserve for its 2% inflation target. The report, together with other data showing more people were collecting unemployment checks at the end of November relative to the beginning of the year as demand for labor cools, cemented investor expectations that the U.S. central bank would deliver its third consecutive interest rate cut next week.

  • Dec 12, 2024

BlackRock recommends bitcoin portfolio weighting of up to 2% for interested investors

(Reuters) -BlackRock recommends that interested investors consider allocating as much as 2% of their portfolio to bitcoin, the world's largest cryptocurrency, the giant asset manager said in a report on Thursday. "We see a case for investors with suitable governance and risk tolerance to include bitcoin in a multi-asset portfolio," a team of four senior BlackRock executives including Samara Cohen, chief investment officer of ETFs and Paul Henderson, senior portfolio strategist of BlackRock Investment Institute, said in the short report.

  • Dec 12, 2024

Bitcoin At $100K, BlackRock's Big Moves, Ripple’s Stablecoin Approval & More

This week in crypto: Bitcoin hit a huge milestone, closing above $100K for the first time, though volatility and $1.8 billion in total crypto liquidations shook the market. BlackRock’s IBIT made headlines with a massive $398.6 million BTC purchase, while Ripple’s new stablecoin, RLUSD, was finally approved by the NYDFS. El Salvador discovered $3 trillion in unmined gold, and may change its Bitcoin law as part of an IMF deal. Plus, Google’s quantum breakthrough raised new concerns about Bitcoin’s

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