NEW YORK—Crude oil tanks at the Cushing, Oklahoma storage hub are more depleted than they have been in the last three years, and prices of further dated oil contracts suggest they will stay lower for months. U.S. demand for crude among refiners making gasoline and diesel has surged as the economy has recovered from the…
US Demand for Oil Surges, Depleting Tanks in Oklahoma
October 27, 2021
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‘Inflation’ Mentions During Corporate Earnings Calls Hit 20-Year High
In yet another sign that higher price dynamics could stick around longer than many previously believed, the number of times the word “inflation” was mentioned during earnings calls in the third quarter has surged to its highest level in over two decades, according to a Bloomberg tally. Transcripts of analyst briefings of 1,557 global stocks…
Twitter Avoids Revenue Hit From Apple Privacy Changes
October 27, 2021
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Twitter Inc. on Tuesday reported its quarterly revenue grew 37 percent and avoided the brunt of Apple Inc. privacy changes on advertising that hobbled its rivals, sending its shares up 3 percent. The social networking site has been working to add new features such as audio chat rooms to attract users, and also rolled out…
Stocks Run out of Steam on Regulation Worries, Higher Yields
October 27, 2021
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LONDON—A flare up in U.S.–China tensions, signs of further regulatory crackdowns from Beijing, and a rise in short-dated U.S. Treasury yields doused the equity market rally on Wednesday, offsetting tailwinds from forecast-beating earnings on Wall Street. MSCI’s global equity benchmark is hovering close to Monday’s seven-week high and is on track for the best month…
Oil Drops 1 Percent as US Stockpile Rise Saps Rally
October 27, 2021
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LONDON—Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Brent oil futures fell $1.13 cents, or 1.3 percent, to $85.27 a barrel by 0902 GMT after closing at the highest in seven…
Asian Stocks Fall After Australia Inflation Accelerates
October 27, 2021
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BEIJING—Asian stock markets fell Wednesday after Australian inflation increased, highlighting global pressure for prices to rise, while investors looked ahead to U.S. economic growth data due out this week. Shanghai, Tokyo, and Hong Kong all retreated. Wall Street’s S&P 500 index rose 0.2 percent on Tuesday to its second high in two days, driven by…
Lufthansa CEO Sees Business Travel Recovering Faster Than Thought
VIENNA—Business air travel is recovering faster than expected and should remain solid through the winter, the chief executive of Germany’s Lufthansa (LHAG.DE) said in remarks published on Monday. Meanwhile private travel is seeing an “extension of the summer season” as people catch up on flights they were not able to take immediately after the onset…
Logitech Sees Logistics, Component Crisis to Extend to 2022
Logitech International SA CEO Bracken Darrell expects logistics problems and component shortages to continue at least into early 2022, Reuters reports. “We will have some issues delivering at the levels of demand that are out there. But we have strong levels of inventory,” Darrell said. Logitech was also adding new suppliers and relying on its long-term…
Verizon, Amazon’s Project Kuiper Collaborate to Develop Connectivity Solutions
Verizon Communications Inc and Project Kuiper, an advanced low Earth orbit (LEO) satellite network from Amazon.com Inc, and Project Kuiper, an advanced low Earth orbit (LEO) satellite network from Amazon.com Inc collaborated to develop connectivity solutions for unserved and underserved communities. Project Kuiper and Verizon have begun developing technical specifications and defining preliminary commercial models for a…
Chip Lead Times Continue to Slow, Hinting at Ease in Crisis: Bloomberg
Delivery times for chips in October posted their smallest gain in about nine months, signaling towards possible ease in crisis plaguing multiple industries, Bloomberg reports. The lead times, which implies the gap between a semiconductor order and delivery time, increased by one day to about 21.9 weeks in October versus September, as per Susquehanna Financial…
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