Jamie Dimon, the CEO of JPMorgan Chase, says America needs a ‘Marshall Plan for energy’ to significantly boost domestic energy production, as oil and natural gas costs rise. Dimon repeated his call to build up American energy infrastructure while speaking at a panel on CBS’s Face the Nation, on Dec. 11. The Marshall Plan, named…
Jamie Dimon Says America Needs a ‘Marshall Plan for Energy’ With More Fossil Fuel Production
December 12, 2022
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‘Early Filers’ Should Wait to Send Tax Return in 2023: Here’s the Key Reason Why
Some people who are aiming to file their 2022 tax returns early next year received new advice from the Internal Revenue Service that said that they need to wait for “key documents” before filing. The reason why, the agency said, is because some people might be receiving a Form 1099-K for the first time due…
‘Tough Road Ahead’ for UK Economy Despite October Rebound, Chancellor Warns
The UK economy still faces a “tough road ahead” despite a rebound in growth in October, Chancellor of the Exchequer Jeremy Hunt has warned. According to the latest data from the Office of National Statistics (ONS), monthly real GDP is estimated to have grown by 0.5 percent in October, following a fall of 0.6 percent…
Wall Street Opens Higher as Investors Await CPI Data, Fed Decision
Wall Street’s main indexes opened higher on Monday as investors awaited inflation data and the Federal Reserve’s policy decision later this week to gauge the U.S. economic outlook amid worries of a recession. The Dow Jones Industrial Average rose 43.04 points, or 0.13 percent, at the open to 33,519.50. The S&P 500 opened higher by…
Dollar Eases, but Inflation Outlook Stays High on Investors’ Radar
LONDON—The dollar eased on Monday but its losses were contained by data last week that showed U.S. wholesale inflation rose more than expected last month, reinforcing the view that the Federal Reserve may have to keep interest rates higher for longer. The U.S. currency made the most upward headway against commodity-linked currencies like the Australian…
Oil Resumes Slide as Weak Economy Outweighs Supply Risks
December 12, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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SINGAPORE/LONDON—Oil prices fell on Monday, deepening a multi-week decline, as a weakening global economy offset supply woes stemming from the closure of a key pipeline supplying the United States and Russian threats of a production cut. Brent crude futures were down 38 cents, or 0.4 percent, at $75.72 a barrel by 0900 GMT. U.S. West…
Global Shares Ease as Central Bank Rate Hikes Loom
December 12, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks fell on Monday as investors braced for the last round of transatlantic interest rate hikes this year from a trio of central banks, hoping that a hitherto hefty pace of increases in borrowing costs will finally show signs of easing. Oil prices rose as a key pipeline supplying the United States remained shut,…
Australian Governments’ Intervention In Energy Market Does Little to Address Supply Issues: Peak Bodies
December 11, 2022
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AustraliaAustralian Energy CouncilBusiness & MarketsCompanieseconomic policiesenergyInternationalWorld
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Peak industry bodies warn the Australian government’s heavy intervention to try to control retail electricity and gas prices does not address longer-term problems in the market. Last week, the country’s National Cabinet—a regular meeting of federal and state leaders—agreed to cap wholesale gas prices at $12 a gigajoule (US$8.15) and coal at $125 a tonne…
Wholesale Inflation in US Further Slowed in November to 7.4 Percent
WASHINGTON—Wholesale prices in the United States rose 7.4 percent in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool. The latest year-over-year figure was down from 8 percent in October and from a recent peak of 11.7 percent in March. On…
North Carolina Treasurer Wants BlackRock CEO Larry Fink to ‘Resign or Be Removed’
December 9, 2022
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BlackRockBusiness & MarketscongressDemocratseconomic policieseconomyenergyEnvironmentESGExecutive BranchFeatured TopicsFederal-State RelationsGold and CommoditiesLarry FinkMarketsNorth CarolinaPolicies & ImpactsPoliticsRepublicansSciencestocksUSUS News
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You might call it the “battle of BlackRock.” The conflict, which pits Republican officials in states across the country against the world’s largest asset manager, has only intensified in recent months. Just days ago, Florida became the latest state to pull money from BlackRock—in its case, $2 billion in state-controlled assets. The state’s chief financial…
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