Exxon Mobil Corp. plans to raise share buybacks 14% as the oil giant accelerates crude production in the US Permian Basin, boosted by its $60 billion acquisition of Pioneer Natural Resources Co.
Oil declined for a fifth day as near-record US exports added to concerns that increased supply will outweigh pledges by Saudi Arabia that OPEC+ will deliver on its planned production cuts.
China ramped up its support for the yuan via the daily reference rate, as market sentiment took a hit after Moody’s Investors Service cut its credit outlook for the nation.
Bitcoin scaled $40,000 for the first time since May 2022 as the largest digital asset extended a rebound on expectations of interest-rate reductions and greater demand from exchange-traded funds.
The dollar started the week on a shaky footing on Monday as markets took stock of cautious remarks from Federal Reserve Chair Jerome Powell as they waited on a key employment report that could influence the outlook for U.S. interest rates.
Overseas investors sold China equities for a fourth month in November, the longest selling streak, as concerns over its economic recovery linger.
U.S. Treasury Secretary Janet Yellen said on Thursday she believes the U.S. economy does not need further drastic monetary policy tightening to stamp out inflationary expectations and was on track to achieve a "soft landing" with strong employment.
For two hours on an early February morning, Sunac China Holdings Ltd. Chief Financial Officer Gao Xi delivered a tirade against bondholders — hitting the table as he told them the distressed developer had already made its best offer.
The Federal Reserve and the European Central Bank will need to keep interest rates high for longer than investors expect to ensure inflation is weeded out of their economies, OECD Chief Economist Clare Lombardelli told Bloomberg Television.
Local governments in China have sold record amounts of so-called special bonds this year to inject capital into struggling smaller banks, as authorities seek to contain spillover risks from a deepening property crisis and a sputtering economy.
Japanese exporters are making bullish assumptions about the outlook for the yen, allowing themselves to more easily beat earnings expectations and keep the nation’s equities benchmarks among the world’s best performers.
Investor confidence is finally returning to emerging markets as equities and bonds rally this month, luring fresh capital into exchange-traded funds that revolve around the asset class.
Deutsche Bank on Monday forecast the S&P 500 to end next year 12% higher as it expects corporate earnings to remain resilient even if the United States experiences a mild and short recession.
OPEC and its allies are scheduled to meet on Thursday after delaying their weekend gathering amid a dispute over output quotas for African members.
A whopping $7.6 trillion in interest-bearing US public debt will mature within a year, Apollos chief economist said in September.
