Oil prices are rising due to recent conflicts between Israel and Hezbollah, with fears of Iranian retaliation potentially disrupting global oil supplies and pushing Brent crude to $75-$85 per barrel in September.
Industry
Goldman Sachs Predicts Strongest US Economic Growth if Harris Wins Presidency
A win for Kamala Harris and the Democrats would boost US economic growth and job opportunities for Americans, while a Trump victory could lead to reduced economic output due to higher tariffs and stricter policies, according to Goldman Sachs.
Bluesky Warns of Tech Outage After Usage Traffic Surges in Brazil Following X Ban
Bluesky saw a surge in users in Brazil after the country banned Elon Musk's X platform, leading to performance issues due to high traffic.
Tesla Annotators Get ‘Intimate View of Driver’s Daily Life’ While Doing Repetitive Labeling Jobs at About $20 per Hour
Tesla's Autopilot software relies on an extensive team of data annotators who label intimate driver video clips under strict surveillance, raising privacy concerns and leading to worker pushback.
US Economic Growth Paces Stronger Than Expected, Thanks to High Consumer Spending
The US economy grew at a 3.0% annualized rate in Q2 2024, driven by strong consumer spending and a rebound in corporate profits, reflecting continued economic growth.
Latest News
A new Kansas City Fed conference study revealed that the Federal Reserve's aggressive rate hikes were essential in gaining public trust and controlling U.S. inflation over the past two years.
Nestlé has ousted Mark Schneider as CEO and replaced him with Laurent Freixe amid recent financial struggles and a drop in stock price. At the same time, analysts express optimism about the leadership change.
European and US share prices rose on August 22 following Federal Reserve signals of potential interest rate cuts, while the dollar remained weak and oil prices stabilized after a recent decline.
A Greek oil tanker, the Sounion, was set on fire and left drifting in the Red Sea after an attack by gunfire from small boats off Yemen, raising environmental and insurance concerns.
Canada's Alimentation Couche-Tard has made a $37.5 billion bid to acquire 7-Eleven, valuing 7-Eleven at twice its previous Tokyo listing.
As of August 19, gold prices have hit new highs, with spot gold at $2,508.14 per ounce and U.S. futures at $2,540.8 per ounce, amid rising expectations that prices could reach $3,000 by mid-2025.
The US and China have signed a new financial stability agreement to boost cooperation on key issues like capital markets and cross-border payments.
Due to an impending labor dispute, Canada's two largest railroads may face a work disruption soon, threatening to also disrupt the US supply chain for an indefinite amount of days.
Saudi Aramco is expanding its partnership with China by investing in petrochemicals and low-carbon technologies, aligning with China's energy security and sustainability goals.
