(Reuters) -Northern Oil and Gas has made an acquisition offer for Granite Ridge Resources, a smaller U.S. producer with operations in basins including the Permian and Eagle Ford, according to people familiar with the matter. Minneapolis, Minnesota-based Northern has submitted at least two offers for Granite Ridge, the sources said, adding the latest bid, made in recent weeks, was at a roughly 20% premium to the target's share price. While Granite Ridge's management has rebuffed the overtures so far, Northern remains interested in a deal and could sweeten its offer next year, the sources said, requesting anonymity as the discussions are confidential.
US stocks end sharply higher, dollar drops after inflation report
NEW YORK (Reuters) -Wall Street surged on Friday and the dollar softened as cooler-than-expected inflation data helped investors look past the possibility of a government shutdown and fresh tariff threats from U.S. President-elect Donald Trump. All three major U.S. stock indexes jumped more than 1%, gold surged and benchmark U.S. Treasury yields eased from multi-month highs. A report from the Commerce Department showed the PCE price index, the Federal Reserve's preferred inflation yardstick, came in cooler than analysts expected, supporting the narrative that price growth remains on a path toward achieving the U.S. central bank's 2% target.
Argentina’s Economy Expanded Faster Than Expected in October
(Bloomberg) -- Argentina’s economy expanded more than expected in October, continuing to show signs of recovery after surpassing growth forecasts in the third quarter too.Most Read from BloombergReviving a Little-Known Modernist Landmark in BuffaloThe Architects Who Built MiamiNew York’s Congestion Pricing Plan Still Faces Legal HurdlesNew York City’s Historic Preservation Movement Is Having a Midlife CrisisMexico City to Boost Mobility, Security Ahead of FIFA World CupEconomic activity rose 0.6
Fed Reverse Repo Facility Balances Sink Below $100 Billion
(Bloomberg) -- The amount of money investors park at a major Federal Reserve facility dropped below $100 billion for the first time since 2021 after policymakers adjusted the parameters this week.Most Read from BloombergThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNew York’s Congestion Pricing Plan Still Faces Legal HurdlesNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousS
US drillers keep oil and natgas rigs unchanged for second week - Baker Hughes
(Reuters) -U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for the second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. Baker Hughes said that puts the total rig count down 31 rigs, or 5% below this time last year. Baker Hughes said oil rigs were up one to 483 while natural gas rigs were down one to 102.
Upstream jobs in Texas oil slipped in Nov, industry group says
Upstream oil companies wound down hiring in November, the Texas Independent Producers and Royalty Owners Association (TIPRO) said on Friday, ending five straight months of job growth. Hiring in the upstream sector, which includes activities related to drilling and producing oil, can serve as an indicator of the health of the oil and gas industry. TIPRO represents nearly 3,000 independent producers and royalty owners across Texas, home to the prolific Permian Basin which accounts for just under half of total U.S. crude production, according to the Energy Information Administration.
Gold Advances as US Inflation Data Reaffirms Rate Cut Path
(Bloomberg) -- Gold climbed after the Federal Reserve’s favored US inflation gauge provided reassurance for policymakers looking to continue lowering borrowing costs in 2025.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalThe US central bank
Fed rate cut dissenter Beth Hammack says 'there is more work to do on inflation'
The lone dissenter to the Federal Reserve’s rate cut this week said she voted against the move because "there is more work to do on inflation," noting that she preferred to pause given the strength of the US economy.
UBS Mulls Job Cuts In France on Weak Economy, CS Integration
(Bloomberg) -- UBS Group AG is looking at enacting job cuts in France in response to the country’s deteriorating economic outlook and the ongoing combination with Credit Suisse.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on Senegal“Due to a less f
Russia's central bank holds off on interest rate hike amid friction between inflation, war spending
Russia's central bank has left its benchmark interest rate at a record 21%, holding off on further increases despite high consumer inflation fueled by the Kremlin's war against Ukraine. Central Bank of Russia Gov. Elvira Nabiullina said that lending to companies had tightened more than expected due to the October rate hike that brought the benchmark to its current record level. The central bank held open the possibility of an increase at its next meeting and said inflation was expected to fall to an annual 4% next year from its current 9.5%.