They’re only a small-ish part of the banking industry’s overall loan book. But some banks are more exposed than others. By Wolf Richter for WOLF STREET. Banks are still very profitable. The industry reported quarterly net income of […]
Japan’s Jera has agreed to sell a part of its stake in US LNG terminal operator Freeport LNG to compatriot Japan Petroleum Exploration (Japex). Jera’s unit Jera Americas holds via Gulf Coast LNG a 25.7 […]
Daily Standup Top Stories Shell plans job cuts in offshore wind business as CEO refocuses on oil and gas May 29, 2024 Mariel Alumit (Bloomberg) – Shell Plc is preparing to cut staff from its offshore […]
By Wolf Richter for WOLF STREET. In Q1 2024, “unrealized losses” on securities held by commercial banks increased by $39 billion (or by 8.1%) from Q4, to a cumulative loss of $517 billion. These unrealized losses amount to […]
Oil retreated as another weak sale of Treasuries raised concerns about rising yields, stoking a risk-off mood across financial markets. West Texas Intermediate settled below $80 as equities declined. The drop pared Tuesday’s 2.7% gains, […]
Returning to the gold standard would limit the issuance of new currency. There are geopolitical reasons why the US abandoned the gold standard in 1971. Fiat currencies are backed by the interest payments made on […]
The acquisition of Marathon Oil will extend ConocoPhillips’ reach across shale fields in Texas, New Mexico and North Dakota, adding 2 billion barrels of resources to its portfolio. ConocoPhillips expects share buybacks worth $7 billion […]
The European Union just passed a directive requiring ESG mandates for European businesses. ESG, of course, stands for environmental, social and governance standards. Or in the fine print — definite corporate action concerning climate change; […]
Greeks are going to the ballots for the EU elections fuming over skyrocketing prices, especially of food and fuel, which have sparked an intense political debate among parties over how to stem the seemingly […]
Daily Standup Top Stories Vietnam’s shift back to coal is under EU scrutiny May 28, 2024 Mariel Alumit A heat wave in Vietnam in May and June of last year led to major power shortages across the north of […]
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