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Powell stops short of committing to rate cuts, and Trump fumes

16 mins ago DieselGasoil Comments Off on Powell stops short of committing to rate cuts, and Trump fumes
JACKSON HOLE, Wyo. (Reuters) – The Federal Reserve will “act as appropriate” to keep the U.S. economy healthy, Fed Chair Jerome Powell said on Friday, remarks that did not say how fast it might cut interest rates, drawing fire from President Donald Trump. FILE PHOTO: Federal Reserve Chair Jerome Powell holds a news conference following Read More

Oil sinks as China places first-time tariff on U.S. crude

46 mins ago DieselGasoil Comments Off on Oil sinks as China places first-time tariff on U.S. crude
By Jessica Summers and Sheela Tobben on 8/23/2019 NEW YORK (Bloomberg) – Crude plunged to a two-week low after China announced tariffs on U.S. crude oil for the first time as the trade war between the world’s biggest economies escalated. Futures fell as much as 3.5% in New York on Friday, erasing this week’s gain. Read More

Powell says Fed will ‘act as appropriate’ but offers little more guidance

2 hours ago DieselGasoil Comments Off on Powell says Fed will ‘act as appropriate’ but offers little more guidance
JACKSON HOLE, Wyo. (Reuters) – The U.S. economy is in a “favorable place” and the Federal Reserve will “act as appropriate” to keep the current economic expansion on track, Fed chair Jerome Powell said on Friday in remarks that gave few clues about whether the central bank will cut interest rates at its next meeting Read More

U.S. rates futures gain on China’s tariff, Fed’s Bullard

3 hours ago DieselGasoil Comments Off on U.S. rates futures gain on China’s tariff, Fed’s Bullard
FILE PHOTO: Containers are seen at the Yangshan Deep Water Port in Shanghai, China August 6, 2019. REUTERS/Aly Song NEW YORK (Reuters) – U.S. interest rates futures rose on Friday, erasing their earlier losses after China announced retaliatory tariffs on about $75 billion of U.S. imports, rekindling bets the trade war between the world’s biggest Read More

Billionaire industrialist and conservative donor David Koch dies at age 79

3 hours ago DieselGasoil Comments Off on Billionaire industrialist and conservative donor David Koch dies at age 79
WASHINGTON (Reuters) – Billionaire industrialist David Koch, a driving force behind conglomerate Koch Industries who as one of the world’s richest people became a major financier of conservative causes and political candidates, has died at age 79, his brother said on Friday. FILE PHOTO: Businessman David Koch arrives at the Metropolitan Museum of Art Costume Read More

Half of Venezuela’s oil rigs may vanish if U.S. sanctions waivers lapse

7 hours ago DieselGasoil Comments Off on Half of Venezuela’s oil rigs may vanish if U.S. sanctions waivers lapse
By Peter Millard and Fabiola Zerpa on 8/23/2019 RIO DE JANEIRO (Bloomberg) – A looming U.S. sanctions deadline is threatening to clobber Venezuela’s dwindling rig fleet and hamper energy production in the nation with the world’s largest crude reserves. Almost half the rigs operating in Venezuela will shut down by Oct. 25 if the Trump Read More

Tesla in advanced talks with LG Chem on battery supply in China: source

7 hours ago DieselGasoil Comments Off on Tesla in advanced talks with LG Chem on battery supply in China: source
(Reuters) – U.S. electric vehicle maker Tesla Inc (TSLA.O) is in advanced talks with South Korea’s LG Chem Ltd (051910.KS) to source batteries for vehicles to be made in its Shanghai plant, a person familiar with the matter said. FILE PHOTO – Tesla super chargers are shown in Mojave, California, U.S. July 10, 2019. REUTERS/Mike Read More

Tesla to buy batteries from South Korea’s LG Chem: Bloomberg

10 hours ago DieselGasoil Comments Off on Tesla to buy batteries from South Korea’s LG Chem: Bloomberg
FILE PHOTO – Tesla super chargers are shown in Mojave, California, U.S. July 10, 2019. REUTERS/Mike Blake (Reuters) – Tesla Inc (TSLA.O) has agreed to buy batteries from South Korea’s LG Chem Ltd (051910.KS) for electric vehicles manufactured in China, Bloomberg reported on Friday citing people familiar with the matter. The batteries made by the Read More

Guggenheim’s Scott Minerd warns world bond markets are in a ‘bubble’

20 hours ago DieselGasoil Comments Off on Guggenheim’s Scott Minerd warns world bond markets are in a ‘bubble’
(Reuters) – The bond market is in a “bubble,” particularly sovereign debt, Guggenheim Partners global chief investment officer Scott Minerd warned on Thursday, and he said that efforts by the Federal Reserve to head off a recession by cutting interest rates will ultimately prove futile. FILE PHOTO: Scott Minerd, Chairman of Guggenheim Investments and Global Read More

Oil edges down as rate-cut anticipation balances demand fears

21 hours ago DieselGasoil Comments Off on Oil edges down as rate-cut anticipation balances demand fears
By Sheela Tobben on 8/22/2019 NEW YORK (Bloomberg) – Oil ended lower as weak U.S. factory data highlighted demand concerns, and prospects of a Federal Reserve interest rate cut. Futures fell 0.6% on Thursday after a choppy session. Investors are balancing fears about slowing global economies and demand with anticipation the Federal Reserve Chair Jerome Read More