Category: Finance

The European Union last week approved a law that will ban the sale of combustion engine cars in its member states from 2035. For Germany and Italy as well as for Romania, Bulgaria, the Czech Republic and Hungary, the new bill sets a first deadline for the sale of gasoline-powered cars. However, as Statista’s Katharina Buchholz reports,… Continue reading Combustion Going Bust: Global Phase-Outs Of Gasoline Cars

Update (1520ET): Local TV station WKYC broadcasted Trump’s speech in East Palestine. The former president said, “to the people of East Palestine and to the nearby communities of Ohio and Pennsylvania, we have told you loud and clear, ‘you’re not forgotten.’”  Where is Biden? *   *   *  Update (1343ET): Former President Trump has landed in… Continue reading “You’re Not Forgotten”: Trump Speaks From East Palestine

Authored by Felicity Bradstock via OilPrice.com, For the global energy transition to succeed, the energy storage industry will have to develop cheap, efficient, and reliable ways to store renewable energy. Lithium-ion batteries currently dominate the market, but a potential shortage of lithium and issues with durability mean less-efficient systems could ultimately be better. Gravity batteries,… Continue reading Could Gravity Batteries Win The Energy Storage War?

Leaders representing the FedEx Air Line Pilots Association unanimously passed a resolution authorizing a strike authorization vote last Friday, according to a statement Wednesday from the union. A date for the vote wasn’t mentioned. The union said no future talks are planned as labor agreement negotiations have stalled.  A strike would only happen if negotiations break down… Continue reading FedEx Pilot Union “Prepared To Take Fight To Company” As Labor Talks Stall, Strike Looms

By Simon White, Bloomberg Markets Live reporter and strategist Bull steepenings in the yield curve are generally seen as a precursor to a recession, but they are often preceded by bear steepenings. The 3m30y curve is currently bear steepening, indicating a recession could begin as early as the summer. I discussed the 3m30y’s nascent steepening on Tuesday.… Continue reading Not All Yield Curves Are Alike… But This Signal’s Never Wrong

Dole Food is one of the world’s largest producers and distributors of fresh fruits and vegetables. An alarming report reveals the company temporarily shuttered all operations across North America after a cyberattack earlier this month.  “Dole Food Company is in the midst of a Cyber Attack and have subsequently shut down our systems throughout North… Continue reading Ransomware Attack On Food Giant Dole Temporarily Shuttered US Production

US futures rebounded from yesterday’s post FOMC selloff, rising back over 4,000 as concern about aggressive monetary tightening eased and Nvidia soared 10% after giving a bullish revenue outlook. Contracts on the Nasdaq 100 were up 1% as of 7:45 a.m. ET while S&P 500 futures rose 0.4%. The underlying stock gauges closed mixed on… Continue reading S&P Futures Rebound Above 4,000, Boosted By Surging Nvidia

Authored by Ven Ram, Bloomberg cross-asset-class strategist, There is an interesting jigsaw to be solved from Wednesday’s release of the Fed minutes of its meeting earlier this month. Here’s what the minutes showed: A few participants stated that they favored raising the target range for the federal funds rate 50 basis points at this meeting or that… Continue reading The Missing Pieces From Fed Minutes On The Bigger Move Debate

The Biden administration says it has proof that China is strongly considering supplying Russia with lethal aid amid the war in Ukraine and that it may release this intelligence to the public.  “The Biden administration is considering releasing intelligence it believes shows that China is weighing whether to supply weapons to support Russia’s war in… Continue reading US May Release Intelligence Showing China Poised To Transfer Arms To Russia

One month after the first Q4 GDP estimate surprised to the upside, coming in at 2.9% vs expectations of a 2.6% number, moments ago things gradually reverted to normalcy for a Biden admin that has seen its fair share of grossly manipulated economic data, when the BEA reported in its 2nd estimate of Q4 GDP… Continue reading Q4 GDP Revised Lower As Core PCE Unexpectedly Comes In Hot