French President Emmanuel Macron said he will meet with Tesla CEO Elon Musk on Friday—the second time in just over a month—to promote France as a possible site for one of the electric vehicle (EV) maker’s factories as well as to discuss tech regulation. “I’m going [into that meeting] with an agenda,” Macron told reporters…
Dollar Ekes out Gain After Fed Hike Hint; Yen Slips
LONDON—The U.S. dollar strengthened on Thursday after the Federal Reserve left interest rates unchanged but signalled further rate hikes to come this year as attention turned to the European Central Bank policy announcement later in the day. The Fed’s policy decision snapped a string of 10 consecutive rate hikes, but the projections, or dot plot,…
Oil up on Strong China Refinery Data
LONDON—Oil prices rose on Thursday after a plunge the previous day, as data showed a jump in refinery runs at the world’s top crude importer China, but a weak economic backdrop capped gains. Brent crude futures were up 84 cents, or 1.15 percent, to $74.04 a barrel at 0959 GMT. U.S. West Texas Intermediate (WTI)…
Stocks Slip as ECB Prepares Hike After Hawkish Fed Pause
June 15, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks slipped from 18-month peaks and the dollar pushed higher on Thursday as traders readied for what is expected to be the eighth straight rate hike from the European Central Bank (ECB) later. Europe’s groggy start came after Wednesday’s first pause in the U.S. Federal Reserve’s rapid hiking cycle in over a year was…
New South Wales Temporarily Bans PwC Amid Ongoing Federal Investigation
The government of the Australian state of New South Wales (NSW) has placed a temporary ban on scandal-plaguing consultancy firm PricewaterhouseCoopers (PwC) as it seeks to improve the quality of consultant services provided by third parties. On June 15, the NSW government announced that it would suspend PwC from getting new government contracts concerning taxation…
Regional Banks Scramble to Unload Commercial Real Estate Loans, Fearing New Crisis
June 14, 2023
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bank failuresBusiness & Marketscommercial real estateCompanieseconomyInvestmentregional banksSilicon Valley Bank CollapseUS
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The work-from-home trend has been taking its toll on office landlords and is now making its way through to banks’ commercial loan portfolios, leading some analysts to predict that more trauma could be on the way for regional banks this year. And in the current climate of bank failures, short sellers, and nervous depositors, banks…
Stock Market Today: Wall Street Swings to Mixed Close as Fed Hints of Rate Hikes to Come
NEW YORK—Wall Street swung to a mixed finish after the Federal Reserve hinted it may raise interest rates two more times this year, even as it held them steady Wednesday. The S&P 500 finished the day 0.1 percent higher after pinballing between gains and losses following the Fed’s announcement. The Dow Jones Industrial Average dropped…
Rancher Angered When Uninvited Pipeline Surveyors Enter Home
June 14, 2023
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Business & Marketscarbon captureconstitutional rightsenergyFeatured TopicsPolicies & ImpactsRegional & State NewsRegional NewsSouth DakotaState NewsUS
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Keeping the doors unlocked is a common practice on rural farms where farmers often work between the house, barn, and field. But country manners don’t allow strangers to enter buildings unannounced. That’s what happened on May 3, when land surveyors for Summit Carbon Solutions arrived at the Brown County, South Dakota ranch of Jared and…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 14)
June 14, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for July delivery fell $1.15 to $68.27 a barrel Wednesday. Brent crude for August delivery fell $1.09 to $73.20 a barrel. Wholesale gasoline for July delivery fell 1 cent $2.55 a gallon. July heating oil fell 4 cents to $2.36 a gallon. July natural gas was unchanged at $2.34 per 1,000…
How Major US Stock Indexes Fared June 14
Stocks swung to a mixed close on Wall Street after the Federal Reserve hinted it may raise interest rates two more times this year. The S&P 500 ended less than 0.1 percent higher Wednesday after pinballing from a modest gain before the Fed’s announcement to a modest loss just after. The Dow fell 232 points,…
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