U.S. crude oil fell nearly 2% Wednesday to trade around $74 per barrel, as the market continues to shed gains made earlier in the week on the threat of supply disruptions in Libya. “Oil prices remain range-bound, despite the potential of a large disruption in Libyan supplies and elevated tensions in the Middle East,” Amarpreet … Read more
Crude oil leaks from an oil pumping jack in an oil field in Russia. Bloomberg Creative | Bloomberg Creative Photos | Getty Images A political standoff in Libya risks once more paralyzing the north African country’s lucrative oil sector — but the frequency of its power tussles and crude disruptions have called long-term oil price … Read more
With fast-food customers revolting over higher prices, chains like McDonald’s, Burger King and Wendy’s are bringing back the value meal. Nearly 80% of Americans said they feel fast food has become a luxury and are eating out less, according to a LendingTree survey. To try to lure them back, fast-food chains have been touting their … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on Aug. 23, 2024. Angela Weiss | AFP | Getty Images The speedy return of market confidence following a dramatic global sell-off in risky assets should be seen as a cause for concern, according to the head of asset allocation research … Read more
Workers in July 2019 expand a mine in Germany intended to increase supplies of tungsten and fluorspar. Picture Alliance | Picture Alliance | Getty Images BEIJING — U.S. government researchers recently visited a South Korean mine to assess progress towards boosting supply of a critical metal called tungsten from areas outside China, the mine operator … Read more
He Xiaopeng, founder of Chinese EV company Xpeng, said on Aug. 27 that the startup’s next ten years will focus on integrating artificial intelligence. CNBC | Evelyn Cheng BEIJING — Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting as low as $16,812, far … Read more
On the day before artificial intelligence powerhouse Nvidia is scheduled to report earnings, CNBC’s Jim Cramer reminded investors why he thinks the stock has intrinsic value, saying one can’t assess it based on the results of one quarter. “When you think of all these wonders from Nvidia’s technology, you don’t sit there and worry about … Read more
The Melbourne skyline is reflected in the Maribyrnong River in the early morning light on April 18, 2023. William West | AFP | Getty Images Asia-Pacific markets opened lower on Wednesday, ahead of Australia’s July inflation numbers. Minutes of the Reserve Bank of Australia’s last meeting revealed that the central bank had considered raising interest … Read more
CNBC’s Jim Cramer on Tuesday opined on Apple‘s recent management shake-up, saying the chief financial officer transition will be smooth and it boosts his favorable attitude toward the stock. “It’s still one more reason why Apple’s worth so much money. It’s what other companies wish they could do,” he said. “You can’t sleep well at … Read more
Cryptocurrencies fell Tuesday evening as Asia futures pointed lower, triggering a wave of liquidations on the Bybit exchange. The price of bitcoin was last lower by 6.2% at $59,504.68, according to Coin Metrics. Ether tumbled more than 8% to $2,457.61. “Crypto markets moved down sharply, triggering a leverage driven liquidation,” said Steven Lubka, head of … Read more
