• September 5, 2024

Trump Vows 15% Corporate Tax and Taps Musk for Federal Audit

(Bloomberg) -- Donald Trump pledged to cut the corporate tax rate, slash regulations and audit the federal government, embracing an idea proposed by billionaire backer Elon Musk, as he pitched his agenda to Wall Street and corporate leaders in New York.Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Ta

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• September 5, 2024

Yellen Says Labor Market ‘Healthy,’ Amid Unemployment Rise

(Bloomberg) -- Treasury Secretary Janet Yellen said the US job market remains healthy and touted “very solid” consumer and investment spending, even as recent data suggest some cooling is taking place.Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Tallest Tower Tests Malaysia's Appetite for More Skysc

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• September 5, 2024

OPEC+ Pauses Oil Supply Hike in Effort to Reverse Price Slump

(Bloomberg) -- OPEC+ postponed its oil supply hike by two months, but the move wasn’t enough to roll back steep losses in crude prices amid fears about fragile demand. Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Tallest Tower Tests Malaysia's Appetite for More SkyscrapersKey coalition members won’t

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• September 5, 2024

Mexico Central Banker Heath Says Food Volatility Clouds Inflation Outlook

(Bloomberg) -- Mexican central bank Deputy Governor Jonathan Heath said it’s uncertain how soon food price pressures will cool and bring policymakers relief on non-core inflation as they mull new interest rate cuts.Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Tallest Tower Tests Malaysia's Appetite

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• September 5, 2024

Average long-term US mortgage rates holds at 6.35% this week ahead of expected Fed rate cut

The average rate on a 30-year mortgage in the U.S. was flat this week ahead of an expected interest rate cut from the Federal Reserve later this month. The rate remained at 6.35% from last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.52%, Freddie Mac said.

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• September 5, 2024

Unemployment is rattling the Fed committee so much that even its hawkish members are backing a cut

"The balance of risks has shifted and I am today giving basically equal attention to the maximum employment objective."

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• September 5, 2024

Private sector tallies lowest monthly job gain since January 2021

The data comes as investors watch for signs of how quickly the Federal Reserve could bring down interest rates.

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• September 5, 2024

Lula’s Green Fuel Law Favors Farmers Over Oil Giant Petrobras

(Bloomberg) -- New legislation in Brazil is set to support farmers by pushing additional demand toward biofuels — and away from the fossil fuels produced by state-controlled oil giant Petroleo Brasileiro SA. Most Read from BloombergHow Air Conditioning Took Over the American OfficeThe Outsized Cost of Expanding US RoadsHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatAt its final stages in Congress, the “Fuel of The Future” bill from President Luiz Inacio Lula da Silva’s government creat

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• September 5, 2024

Shares and oil stabilise as September storms relent

World share and oil prices stabilised on Thursday after savage starts to September, while the yen climbed to a one-month high and government bond markets rallied, as investors stuck with rate cut trades. The storms, which have wiped off more than $2 trillion from global stock markets and battered commodities, eased just enough to mean Europe's main bourses were able to hold their ground early on after losing nearly 2% in recent days. The Japanese yen, which has surged nearly 2% this week, remained the biggest beneficiary.

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• September 5, 2024

OPEC+ Close to Postponing Oil Supply Increase After Price Slump

(Bloomberg) -- OPEC+ is close to agreement on delaying a planned increase in oil production after prices plunged amid fragile demand. Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatThe Outsized Cost of Expanding US RoadsKey coalition members likely won’t go ahead with the scheduled hike of 180,000 barrels a day in October, according to delegates who asked not to be identified because the discussions are private.

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