• Dec 03, 2024

US Debt Ceiling to Over Complicate Fed’s Balance-Sheet Runoff

(Bloomberg) -- The US debt ceiling is once again emerging as the Federal Reserve continues to unwind its balance sheet, putting the central bank in a tough spot — only this time it’s trickier. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsThe debt limit will be reinstated on Jan. 2, prompting the Treasury Department to deploy a series of extraordinary measures that include spending down its cash

  • Dec 03, 2024

Exxon Taps Low Carbon Chief to Lead Key Oil and Gas Division

(Bloomberg) -- Exxon Mobil Corp. named Dan Ammann as head of its upstream oil and gas business, putting its low carbon president in charge of its most profitable division. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAmmann will replace Liam Mallon, who on Feb. 1 retires after 34 years with Exxon, the Spring, Texas-based company said in a statement. Ammann joined Exxon in 2022, making him a rel

  • Dec 03, 2024

S.Korea authorities vow to stabilize markets as parliament votes to lift martial law

South Korea's finance minister said on Wednesday the government would deploy all possible measures to stabilize financial markets if needed after President Yoon Suk Yeol declared martial law in an emergency national address. "We will mobilize all possible financial and foreign exchange market stabilization measures, including unlimited liquidity injections," Choi Sang-mok said in an emergency meeting with top economic officials in Seoul. South Korea's parliament, with 190 of its 300 members present, passed a motion on Wednesday requiring the martial law declared by President Yoon Suk Yeol to be lifted, live TV showed.