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  • Aug 13, 2024

Talen focused on data center demand as it considers axing crypto business

NEW YORK (Reuters) -Talen Energy is focused on capturing surging demand from data center developers as the independent power company looks to pivot away from its crypto mining operation, company executives said on Tuesday. Talen is among a group of U.S. electric companies benefiting from the power needs of artificial intelligence and cloud computing data centers, with shares of Talen up nearly 100% since the start of the year. "It's not a strategic asset for us and we are looking at... other alternatives," Talen Energy Chief Executive Officer Mark McFarland said of the crypto mining business on a second-quarter earnings call.

  • Aug 13, 2024

Fed’s Bostic Says More Data Needed, Rate Cut Likely by Year-End

(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said he’s looking for “a little more data” before supporting a reduction in interest rates, emphasizing he wants to be sure the US central bank will not have to change course once it begins cutting.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestJohannesburg Mayor Quits Amid Infighting, Financial WoesHow Chicago’s Gigantic Merc

  • Aug 13, 2024

Darling Ingredients Surges on Proposed California Seed-Oil Caps

(Bloomberg) -- Darling Ingredients Inc. soared the most in eight years after California signaled it may limit the use of seed oils in green diesel, which would be a boon to companies that use rival feedstocks.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceJohannesburg Mayor Quits Amid Infighting, Financial WoesGottheimer Call

  • Aug 13, 2024

Fed's Bostic says a 'little more data' needed to support cutting rates

Bostic, speaking at an event in Atlanta, noted that the balance of risks between inflation and the job market are closer to level, but he wants to be sure the Fed avoids cutting rates too soon, only to have to raise rates later if inflation reaccelerates. "I am willing to wait, but it's coming ... It is coming," Bostic said. Financial markets broadly expect the Fed to cut interest rates at its Sept. 17-18 meeting, which would mark its first such move in this policy cycle.

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