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Freeland quits ahead of budget update; LeBlanc replaces her The government ran $44 billion deficit in fiscal year 2023-24 Prime Minister Justin Trudeau’s government ran a deeper deficit than projected and broke a fiscal objective outlined by his finance minister, who resigned the day she was set to unveil new spending and revenue estimates. A C$62 …
NEW YORK (AP) — Bitcoin topped $98,000 for the first time Thursday, extending a streak of almost daily all-time highs since the U.S. presidential election. The cryptocurrency has rocketed more than 40% in just two weeks. Now, bitcoin is at the doorstep of $100,000 and investors do not appear to be phased by gravity or …
Bitcoin is at the Doorstep of $100,000 as Post-Election Rally Rolls On Read More »
(Reuters) – The three largest U.S. energy exploration companies paid more than $42 billion to foreign governments last year, about eight times more than what they paid in the United States, according to regulatory filings. The disclosures from Exxon Mobil, Chevron Corp, and ConocoPhillips were required this year for the first time ever under a new …
Big U.S. Oil Companies Reveal Massive Payments to Foreign Governments Read More »
Oil prices can rise after an interest rate cut due to several interconnected economic factors: Weaker Dollar: Interest rate cuts often lead to a weakening of the country’s currency, especially the U.S. dollar. Oil is typically priced in dollars on global markets, so when the dollar weakens, oil becomes cheaper for buyers using other currencies, …
Why Oil Prices Can Rise After an Interest Rate Cut Read More »
Texas Capital ranks among banks making biggest inroads Banks are spreading risk through new syndication models A number of US and Canadian regional banks are rapidly expanding their presence in the market for oil, gas and coal dealmaking, in a move that promises to redraw the map for the financing of fossil fuels. Among those …
Texas Capital Ratchets Up Oil Deals as Other Banks Quit Market Read More »
Texas adds UK lender NatWest to Energy ‘Boycott’ List Over Financing Restrictions Aug 14 (Reuters) – Texas has added Britain’s NatWest to a list of firms that “boycott” energy companies, potentially restricting the bank’s business with public agencies, the comptroller said on Wednesday. NatWest was added to the list because of limits it has added on …
Disappointing U.S. jobs data has shaken confidence in a soft landing for the world’s largest economy, sending global equity markets tumbling and bets on interest rate cuts surging. But investors abandoning a popular yen carry trade has played a big role in the selloff, complicating the message from asset prices on the economic outlook. The …
Recession Risks Roil Markets but Not Yet Alarming Read More »
Saudi oil giant sees demand “north of 106 million b/d” in 2025 “Robust” oil use points to “fairly healthy” market: CEO The selloff in global oil markets on perceived bad economic news was overdone because demand remains strong, according to top crude exporter Saudi Aramco. Brent crude dropped to almost $75 a barrel on Monday, …
Aramco CEO Says Oil Demand Is Strong and Recent Selloff Was Overreaction Read More »
(Reuters) – Britain’s decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin’s decline, North Sea drillers said. The new Labour government announced on Monday it will increase the Energy Profits Levy (EPL) …
North Sea Oil and Gas Producers Say UK Windfall Tax is a ‘Wrecking Ball’ Read More »
By Irina Slav More From Irina Slav In February this year, Barclays announced it would stop direct financing for “energy clients, for upstream oil and gas expansion projects or related infrastructure.” The bank followed a massively popular trend in the industry of boosting support for transition-related businesses at the expense of traditional energy because traditional energy …
