Oil falls amid dollar strength; demand picture still bullish
Oil prices fell for a second straight session on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but they were on track to finish the week little changed and only slightly off multi-year highs.
Bristol-Myers, Eisai in up to $3.1 bln deal to develop cancer drug candidate
Bristol-Myers Squibb Co (BMY.N) and Eisai Co said on Thursday they had entered into an agreement worth up to $3.10 billion to jointly develop and market an experimental cancer drug.
U.S. FCC votes to advance proposed ban on Huawei, ZTE gear
The U.S. Federal Communications Commission voted unanimously on Thursday to advance a plan to ban approvals for equipment in U.S. telecommunications networks from Chinese companies deemed national security threats like Huawei (HWT.UL) and ZTE (000063.SZ).
Analysis: Biden may hinder oil and gas drilling even after court loss
U.S. President Joe Biden’s administration has the power to stymie oil and gas development on government-controlled lands and waters, industry and environmental experts said, even though a court decision ended his freeze on federal drilling auctions.
U.S. senators propose 25% tax credit for semiconductor manufacturing
A bipartisan group of U.S. senators on Thursday proposed a 25% tax credit for investments in semiconductor manufacturing as Congress works to increase U.S. chip production.
Canadian home price gains accelerate again in May -Teranet
Canadian home prices accelerated again in May from the previous month, posting the largest monthly rise in the history of the Teranet-National Bank Composite House Price Index, data showed on Thursday.
U.S. corporate junk-bond spread narrows, lowest since 2007
The yield spread between junk-rated corporate bonds and U.S. Treasuries tightened further late on Wednesday, falling to its lowest level in more than a decade as yield-hungry investors snapped up risky debt.
Canadian regulator lifts banks’ capital buffer to record, priming for post-pandemic world
Canada’s financial regulator raised the amount of capital the country’s biggest lenders must hold to guard against risks to a record 2.5% of risk-weighted assets, from 1% currently, in a surprise move that could pave the way for them to resume dividend increases and share buybacks.
Ford sees better-than-expected quarterly profit on higher vehicle prices
Ford Motor Co (F.N) said on Thursday its second-quarter operating profit will exceed expectations due to lower costs and rising prices for new and used vehicles amid the global semiconductor chip shortage.
Analysis: As Fed taper inches closer, investors prepare for volatility ahead
As the Federal Reserve takes initial steps toward removing its massively accommodative policy, investors are preparing for the main show ahead.
