Wednesday January 26-th, 2022

Oil prices near 1-year highs after stocks draw, supply deficit forecast

Oil has rallied from historic lows hit past year, thanks to record OPEC+ output cuts that the group is starting to unwind. The American Petroleum Institute, an industry group, reported USA crude oil inventories fell by 4.3 million barrels in the ...

OPEC+ sticks with oil policy as prices rise towards one-year high

OPEC and its allies expect to drain an oil surplus by the middle of the year. OPEC's Joint Technical Committee is due to meet on Tuesday while the policymaking Joint Ministerial Monitoring Committee meets on Wednesday. "While economic prospects an...

Australian Open: More than 500 to isolate after COVID case at hotel Australian Open: More than 500 to isolate after COVID case at hotel

However, Andrews further added, "At this stage there is no impact on the tournament proper". Masks are mandatory in indoor public places and new limits are in place on the number of people who can gather in a household. Two separate groups of guests ...

Markit Services PMI rises to 58.3 (final) in January vs. 57.5 expected Markit Services PMI rises to 58.3 (final) in January vs. 57.5 expected

But it should be noted that the PMI is a month-over-month indicator, showing improvement over the previous month, and not over the previous year. Activity in the USA services sector gained momentum in January amid a strong rise in new business, d...

Eurozone will post a decline in fourth-quarter GDP Eurozone will post a decline in fourth-quarter GDP

In the 4 quarter, the Eurozone economy contracted by 0.7%, following the 3 quarter's 12.4% rebound. The EU's statistics agency said that GDP fell by 0.7% in the fourth quarter, while on an annualised basis, the economy shrank by 5.1%. The eurozone ...

Hinshaw confirms falling COVID-19 numbers, 355 new cases, 10 deaths Hinshaw confirms falling COVID-19 numbers, 355 new cases, 10 deaths

In Newell County, there are five active cases, 150 recoveries and two deaths. The town added seven cases in the past 24 hours, with no recoveries reported. "Currently, in-school transmission has been detected in 66 schools and, of these, 51 have seen...

Treasury Secretary calling meeting to discuss market volatility amid GameStop trading frenzy Treasury Secretary calling meeting to discuss market volatility amid GameStop trading frenzy

Mass buying by amateur traders over the past two weeks has caused fierce price swings at companies that major United States fund managers have bet against, including video game retailer GameStop and movie theater operator AMC Entertainment.

Microsoft backs the Australian govt's new media regulation Microsoft backs the Australian govt's new media regulation

Peter Strong, chief executive of the Council of Small Business Organisations Australia, an advocacy group, expected the disruption to small businesses created by Google's departure from Australia would be short-lived. We will invest further to ensu...

Exxon Mobil reports big 2020 loss, unveils low carbon business Exxon Mobil reports big 2020 loss, unveils low carbon business

Exxon Mobil Corporation reported the largest losses in its history - almost 20.1 billion dollars (£14.7 billion) for the fourth quarter, including more than 19 billion dollars (£13.9 billion) to write down the value of company assets. Exxon's big f...

Futures climb ahead of Amazon, Alphabet earnings; stimulus in focus Futures climb ahead of Amazon, Alphabet earnings; stimulus in focus

Overall, advertising accounted for 81.2 percent of Alphabet's revenues. YouTube delivered a 47% jump in advertising growth from past year, bringing in revenue of $6.89 billion, compared to analyst expectations of $6.22 billion. Analysts were lo...

PII of Over 1.6 Million Washington Citizens Breached in Accellion Attack PII of Over 1.6 Million Washington Citizens Breached in Accellion Attack

The third-party service provider is identified by the Office of the Washing State Auditor (AOC), Pat McCarthy, to be Accellion , a private cloud solutions company that is based in Palo Alto, California. The FTA vulnerability was fixed through softwa...

Jeff Bezos to step down as Amazon CEO Jeff Bezos to step down as Amazon CEO

Jeff Bezos is stepping down as Amazon's CEO in the third quarter to focus more on philanthropy and managing his spaceflight company, Blue Origin. "I don't know of another company with an invention track record as good as Amazon's, and I believe we...

Democrats moving ahead on COVID relief, with or without GOP support Democrats moving ahead on COVID relief, with or without GOP support

The vote was the first of several steps needed in order for the bill, which includes $1,400 stimulus checks for many Americans, to be signed by President Joe Biden . "We are hopeful that Republicans will work in a bipartisan manner to support assist...

Italian president has summoned Draghi Italian president has summoned Draghi

Prime Minister Giuseppe Conte resigned last week after the small Italia Viva party, headed by former premier Matteo Renzi, quit the cabinet in a row over the government's handling of COVID-19 and its economic recovery plans. He also said the country ...

Oil prices rise as producers commit to output restraint Oil prices rise as producers commit to output restraint

Bill O'Grady, executive vice president at Confluence Investment Management , added, "The market is definitely going to see supply contract.this is a major rebuild season, and we're basically starting the rebuild season behind now". USA distillate fu...

ASIAN PAINTS - Indigo Paints soars 84% in stellar market debut ASIAN PAINTS - Indigo Paints soars 84% in stellar market debut

The Sequoia Capital-backed Indigo Paints' Rs 1,170 crore-initial public offering was open between January 20-22 and company sold shares in the price band of Rs 1,488-1,490 per share. The Indigo Paints IPO garnered a super response from investors ...

Government cuts import duty on gold, silver

The budget also reduced gold and silver dore bar customs duty from 11.85% to 6.9% and from 11% to 6.1%, respectively. Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making ...

Chevron and Exxon discuss merger last year Chevron and Exxon discuss merger last year

Sources requested anonymity because the matter is confidential. According to the newspaper, the value of the combined company could be as high as $350 billion. Biden recently formally revoked the permit to build the Keystone XL oil pipeline. Engi...

China's factory output takes hit as Covid resurges China's factory output takes hit as Covid resurges

Manufacturing activity in the US remained resilient at the start of 2021, albeit the expansion pace of the sector eased compared with that of the previous month, data from a survey compiled by the Institute for Supply Management showed Monday.

Oil rises, Brent heads for first gain in 4 days Oil rises, Brent heads for first gain in 4 days

Over the weekend, the market had had time to digest data from the U.S. Commodity Futures Trading Commission showing that hedge funds and other speculative investors had again trimmed their net long positions in crude marginally to the lowest in two m...

Reddit is coming for silver. A short squeeze? Unlikely Reddit is coming for silver. A short squeeze? Unlikely

Shares in JD Sports jumped 5.92% after the company announced a conditional agreement to the purchase of Maryland based sportswear retailer DTLR for $495m, as it continues to boost its brand across the US. Most hedge funds and other money managers w...

Agri tax on petrol, diesel offset with excise tweak Agri tax on petrol, diesel offset with excise tweak

As fuel prices are pinching the pockets of the common man, Finance Minister Nirmala Sitharaman introduced an Agriculture Infrastructure and Development Cess (AIDC) of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel. Prices of the two fuel...

Q3 revenues plunge at Ryanair as Covid-19 'wreaks havoc' Q3 revenues plunge at Ryanair as Covid-19 'wreaks havoc'

Ryanair said it is braced for "the most challenging year" in its 35-year history and expects to post a full-year loss of almost €1bn. Ryanair forecast an annual net loss of between 850 million euros and 950 million euros, despite the ongoing r...

Asos buys Topshop and Miss Selfridge brands Asos buys Topshop and Miss Selfridge brands

Although the deal includes the brand and stock, it does not include the shops, placing the affected brands' physical stores including the Topman and Topshop store in the Eastgate Centre, at risk of closure. " Katie, Sam and all the team here at Topsh...

5.6 million doses of Pfizer, AstraZeneca vaccines to arrive by mid-February 5.6 million doses of Pfizer, AstraZeneca vaccines to arrive by mid-February

The country is to initially receive 117,000 doses of the Pfizer-BioNTech vaccine around midmonth, and 5.5 million to 9.3 million doses of the AstraZeneca brand, Galvez said. Similarly, German outfit Merck KGaA was looking at ways to help Pfizer ...

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