Also: Prediction market traders place bets on Telegram CEO's release from jail and on the spread of mpox.
The Fed’s Rate Cut Cushion Is Good News for Crypto
A key metric by which officials set rates shows the potential to cut rates by 175 basis points over the next nine months. If so, that’s likely to drive the prices of bitcoin a...
The Fed’s Rate Cut Cushion Is Good News for Crypto
A key metric by which officials set rates shows the potential to cut rates by 175 basis points over the next nine months. If so, that’s likely to drive the prices of bitcoin a...
US firms' 'low firing' approach may turn to more layoffs, Fed's Barkin tells BBG
The "low-hiring, low-firing" approach that U.S. businesses currently take to their employment decisions is unlikely to last, Richmond Federal Reserve President Thomas Barkin said in newly released comments, citing the risk that firms could resort to layoffs if the economy weakens. Concerns about the job market have intensified at the U.S. central bank in recent weeks and are a core reason for why Fed Chair Jerome Powell said in a speech on Friday that interest rate cuts were needed to prevent any further and unwanted erosion in U.S. joblessness. It isn't happening yet as firms remain reluctant to fire employees even as they've become more conservative in filling positions, Barkin said in comments to the Bloomberg "Odd Lots" podcast, which was recorded on Friday at a Fed economic symposium and released on Monday.
CoinDesk 20 Performance Update: RNDR and SOL Lead Gains as Index Rises
RNDR jumps 10.7% and SOL climbs 6.7%, leading the CoinDesk 20 Index to a modest weekend gain.
Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal
(Bloomberg) -- Exxon Mobil Corp. forecasts global oil demand in 2050 will be the same — or even slightly higher — than current levels, putting efforts to reach net zero carbon emissions by mid-century well out of reach. Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest
Exxon forecasts 2050 oil demand to match today's, 25% above BP estimate
Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today's levels, a forecast 25% higher than top European rival BP. The stronger demand projected by the largest U.S. oil company in its latest global oil outlook underpins Exxon's production growth plans, the most ambitious among Western oil majors. Exxon plans to pump 4.3 million barrels of oil and gas per day this year, 30% more than U.S. top rival Chevron's current output.
First Mover Americas: Bitcoin Consolidates at $64K Before Next Push Higher
The latest price moves in crypto markets in context for Aug. 26, 2024.