Coinbase will be cutting a fifth of its workforce following an earlier staff reduction in June 2022 in an attempt to preserve its assets as the crypto industry faces a severe downturn. Some of the largest firms in Silicon Valley in general have been delivering a steady stream of job cut announcements in recent months….
Coinbase to Cut a Fifth of Its Workforce in a Second Round of Layoffs
January 12, 2023
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More Than Half of German Companies Report Labor Shortages
BERLIN—More than half Germany’s companies are struggling to fill vacancies due to a lack of skilled workers, the German Chambers of Commerce and Industry (DIHK) said on Thursday, in the latest sign of growth headwinds belaboring Europe’s largest economy. The proportion of companies facing difficulties hiring was at its highest ever level, the DIHK found…
Yen Jumps, Dollar Steady Ahead of US Inflation Data
LONDON—The yen got a boost on Thursday, while the dollar held near a seven-month low against the euro ahead of U.S. inflation data later in the day. The Japanese yen rose as much as 0.8 percent to a session high of 131.36 per dollar in Asian trade. The yen last bought 131.70 per dollar. Elsewhere,…
Oil Rises on China Demand Hopes, US Inflation in Focus
January 12, 2023
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LONDON—Oil rose about 1 percent on Thursday supported by optimism over China’s demand outlook and hopes that upcoming inflation data from the United States will point to a slower increase in interest rates. Top oil importer China is reopening its economy after the end of strict COVID-19 curbs, boosting optimism that demand for fuel will…
Stocks Hold on to Gains Ahead of US Inflation Test
January 12, 2023
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MILAN—World stocks held on to modest gains on Thursday on cautious optimism that U.S. data will confirm inflation is softening, while the yen rose with a report Japan will this month review the side-effects of its ultra-easy policy. A MSCI gauge of world stocks rose 0.2 percent to a four-week high by 0831 GMT ahead…
Report: Oil Price Cap Takes Small Slice of Russia’s Revenue
FRANKFURT, Germany—A price cap and European Union embargo on most Russian oil have cut into Moscow’s revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its action in Ukraine because the $60-per-barrel cap was “too lenient,” researchers said Wednesday. The combination of the cap by the Group of Seven major…
Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 11)
January 11, 2023
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Benchmark U.S. crude oil for February delivery rose $2.29 to $77.41 a barrel Wednesday. Brent crude for March delivery rose $2.57 to $82.67 a barrel. Wholesale gasoline for February delivery rose 10 cents to $2.43 a gallon. February heating oil rose 8 cents to $3.22 a gallon. February natural gas rose 3 cents to $3.67…
In ESG Debate, Some See Threat to Livelihood, Traditional Values
January 11, 2023
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BrightBusiness & Marketscancel culturecoalcongressDefending Americaeconomic policiesEconomyenergyEnvironmentESGExecutive BranchFeatured TopicsFederal-State RelationsGold and CommoditiesInspiredInvestmentKentuckyMarketsPoliticsrecessionRegional NewsRegional-Local NewsRepublicansScienceSocial Issuesstockstraditional valuesUSUS FeaturesUS NewsWest Virginia
Charlie Masters, Kentucky farmer, has watched the prices rise. Diesel fuel and nitrogen fertilizer, two of the most critical ingredients for running his Fleming County beef and produce operation, are still costlier than just two years ago. That’s partly due to recent fluctuations in the prices of oil and natural gas. What’s behind those trends?…
Will the 60/40 Investment Portfolio Survive and Thrive in 2023?
In 2022, the global financial markets recorded sharp losses in both stocks and bonds, wreaking havoc on investors’ portfolios everywhere, including the conventional 60/40 investment portfolio. For decades, the 60/40 portfolio—60 percent in equities and 40 percent in bonds—has been the standard practice. This diversified asset allocation aims to minimize risk and generate returns during…
Kremlin Says It Hasn’t Seen Cases of Oil Price Caps
January 11, 2023
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Business & MarketscrisisenergyEuropeGold and CommoditiesMarketsOilRussiaRussia-Ukraine WarsanctionsUkraineWorld
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MOSCOW—The Kremlin said on Wednesday it had not yet seen any cases of price caps on Russian oil imposed by the West last month, in comments about possible losses from such measures. Some analysts have previously said that the caps will have little immediate impact on the oil revenues that Moscow is currently earning. Currently,…
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