OPEC+ supply boost unlikely despite call from U.S. for more oil, says Goldman
U.S. investment bank Goldman Sachs said a recent call by the United States to OPEC+ to boost oil output is unlikely to result in higher production over the short-term given the threat to demand from the coronavirus Delta variant.
Exclusive: Apple’s child protection features spark concern within its own ranks -sources
A backlash over Apple’s move to scan U.S. customer phones and computers for child sex abuse images has grown to include employees speaking out internally, a notable turn in a company famed for its secretive culture, as well as provoking intensified protests from leading technology policy groups.
Fund managers position for transitory U.S. inflation
Based on expectations that U.S. inflation will be transitory and that the Federal Reserve will clearly communicate its plans to taper asset purchases, major global fund managers say they remain invested in risky assets.
EXCLUSIVE Exxon, Chevron look to make renewable fuels without costly refinery upgrades -sources
U.S. oil major Exxon Mobil Corp (XOM.N), along with Chevron Corp (CVX.N), is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said.
Elon Musk visits Germany, meets with state leaders over ‘gigafactory’
Tesla (TSLA.O) CEO Elon Musk on Wednesday evening met with the leadership of Brandenburg, the German state where the group’s 5.8 billion euro ($6.9 billion) European gigafactory is being built, its Economy Minister Joerg Steinbach said on Twitter.
EXCLUSIVE Fed’s Barkin: U.S. “closing in” on taper, but could still take a few months
It may take a few months more for the U.S. job market to recover enough that the Federal Reserve can reduce its crisis-era support for the economy, according to Richmond Federal Reserve Bank President Thomas Barkin, who added a centrist voice to the open debate about when to trim the central bank’s $120 billion in monthly bond purchases.
Analysis: Peak OPEC? Climate-focused production shift to pile pressure on pact
Moves to mitigate climate change are drawing peak oil demand closer, current and former OPEC officials told Reuters, potentially giving OPEC’s biggest players and their allies more power and leaving some smaller producers struggling.
Rivian considers $5 billion EV plant in Texas, document shows
Amazon.com Inc (AMZN.O) backed electric vehicle (EV) company Rivian is in discussions to invest at least $5 billion in a new vehicle plant near Fort Worth, Texas, a city document showed.
MARKETMIND The price of U.S. recovery
One way or another, Wednesday’s U.S. July inflation print could prove key for markets torn between strong data that suggests the time for withdrawing stimulus is nearing and concern that a resurgent delta COVID variant could stall growth.
Exclusive: Exxon launches U.S. shale gas sale to kick-start stalled divestitures
Exxon Mobil Corp (XOM.N) has begun marketing U.S. shale gas properties as it ramps up a long-stalled program that aims to raise billions of dollars to shed unwanted assets and reduce debt taken on last year.
