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  • Jan 08, 2025

Oil Companies Skip Auction for Arctic Refuge Drilling Rights

(Bloomberg) -- Oil companies declined to bid in a US government auction for drilling rights in the Arctic National Wildlife Refuge, as industry interest wanes in a region that’s rich with crude but difficult to develop. Most Read from BloombergNYC Condo Owners May Bear Costs of Landmark Green Building LawNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’Can American Drivers Learn to Love Roundabouts?Can States Hit the Brak

  • Jan 08, 2025

US activists' demands push up stock prices but maybe not for long, Lazard report says

Demands by U.S. activist investors can send a target company's stock surging, and new data from investment bank Lazard show that these corporate nudges generate considerable market index-beating gains in the days after demands are announced. But the gains are not always long-lasting, according to a report by Lazard. "Activism drives median share price outperformance of 200 basis points in the five days following campaign launches," Lazard wrote in its annual review of shareholder activism, which was released to clients on Wednesday.

  • Jan 08, 2025

Wall Street little changed as investors assess inflation path

(Reuters) -U.S. stocks ended little changed on Wednesday in a session they struggled for a clear direction, as investors digested the impact of two conflicting sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration on inflation. The minutes of the Federal Reserve's Dec. 17-18 meeting showed on Wednesday that officials saw a rising risk that price pressures may remain sticky as policymakers began wrestling with the impact of policies expected from the incoming Trump administration. Market sentiment was fragile after a CNN report said Trump was mulling building the new tariff program by using the International Economic Emergency Powers Act, which authorizes a president to manage imports during a national emergency.

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