A hot jobs report makes it even more likely the Federal Reserve won’t cut rates at its first meeting of the year in January — or for the foreseeable future. “I think they are done here,” Blake Gwinn, the head of US rates strategy at RBC Capital Markets, told Yahoo Finance on Friday. “That January … Read more
The UK has announced sanctions against two Russian oil firms as the Foreign Secretary pledged to “hit Putin where it hurts” amid the continuing war in Ukraine. Britain and the US are sanctioning Gazprom Neft and PJSC Surgutneftegas, which, according to the Foreign, Commonwealth and Development Office (FCDO), between them produce more than one million barrels … Read more
(Bloomberg) — Economists at Bank of America Corp., Citigroup Inc. and Goldman Sachs Group Inc. pared back their forecasts for additional Federal Reserve interest-rate cuts in response to stronger-than-expected December US employment data released Friday. Most Read from Bloomberg Bank of America, which previously expected two quarter-point reductions this year, no longer expects any, and … Read more
(Bloomberg) — Cocoa headed for a weekly decline in New York, after a volatile few days that included chocolate maker Hershey Co.’s bid to source a huge amount of beans through the exchange. Most Read from Bloomberg Futures slipped as much as 3.6% on Friday and are on course to end the week down by … Read more
The chancellor Rachel Reeves attends the Eurogroup meeting at the EU headquarters in Brussels in December 2024Photograph: John Thys/AFP/Getty Images Rachel Reeves intended to spend January burnishing her reputation on the global stage with trips to Beijing and Davos, and flipping the focus from her £40bn tax-raising budget to Labour’s plans to rekindle economic growth. … Read more
A solar-powered car, an air purifying cat tower and a phone charger designed to provide a day’s power in two seconds have been among the eye-catching gadgets drawing crowds during the CES tech show in Las Vegas. The annual event has been running this week, with more than 100,000 attendees from the tech sector on … Read more
(Bloomberg) — Power revenue bonds sold by Los Angeles’s municipal utility dropped on Friday amid the devastating wildfires in Southern California. Most Read from Bloomberg Prices on municipal debt issued by the Los Angeles Department of Water and Power have declined this week. The average spread on debt due in 2045 widened to 112 basis … Read more
UK gas stores have fallen “concerningly low”, according to the owner of British Gas. Centrica said Britain has a little under a week’s worth of demand for gas in storage, while officials have said there is comfortably enough gas to meet demand. As freezing temperatures are expected to continue this weekend, the PA news agency … Read more
Russia’s Gazprom Neft was one of the companies targeted by the US Treasury Department’s sanctions (NATALIA KOLESNIKOVA) The United States and Britain on Friday announced sanctions against Russia’s energy sector, including oil giant Gazprom Neft, just days before outgoing President Joe Biden leaves office. The US Treasury Department said it was designating more than 180 … Read more
The Connah’s Quay gas power station in north Wales raked in revenues of £10.3m from the grid operator on Wednesday.Photograph: The Photolibrary Wales/Alamy A rise in electricity costs this week has raised fears that officials operating Great Britain’s power market could be held to “ransom” by owners of gas power plants during cold, windless days … Read more