Category: U.S
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U.S. CPI Failed to Impress, Annual Inflation Dipped to 3.4% in April
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The headline US CPI came in weaker than expected with a 0.3% month-on-month increase in April versus an estimated 0.4% increase. This brought the annual CPI reading down from 3.5% to 3.4% as expected. Meanwhile, core inflation only reached the mark, showing a 0.3% monthly increase in core price pressures.…
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Oil turns higher as U.S. inflation cools, crude stocks drop more than expected
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Slavko Sereda/iStock via Getty Images Crude oil futures reversed course to close higher on Wednesday, as US government data showed a slight decline in inflation and a larger-than-expected decline in crude oil inventories. The Consumer Price Index rose 0.3% last month after rising 0.4% in March and February, while the…
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New U.S. rules aim to boost renewables, meet surging electricity demand (NYSEARCA:XLU)
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Gargolas/iStock via Getty Images Federal Energy Regulatory Commission Two new rules were approved Monday’s move is expected to make it easier to expand construction of large power lines and bring more renewable energy to American homes and businesses. One rule will require companies that produce and transmit electricity to weigh…
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Week Ahead in FX (May 13 – 17): U.S. Inflation Plus U.K. And Australia’s Jobs Reports
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The US Dollar is in for another busy week as Uncle Sam publishes the latest inflation reports! Meanwhile, labor market updates from the UK and Australia are expected to increase volatility for the British pound and Australian dollar. We’ve got a diary on this week’s most watched data releases! Before…
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Bitcoin stands to gain from U.S. fiscal dominance, Trump victory: StanChart
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Da-kook/E+ via Getty Images There is a growing risk of financial dominance in the US, with rising debt and deficits likely to be on an unsustainable path, and that should be good news for Bitcoin (BTC-USD), according to Jeff Kendrick of Standard Chartered Bank. Donald Trump wins the presidential election…
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Flavor Flav is the official hype man for a U.S. women’s Olympic team
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Maggie Stevens asked for more support for the US women’s water polo team, and the captain received a particularly surprising answer. From the rap icon who wears the watch. Move by Stevens posted on InstagramFlavor Flav stepped forward to help USA team She also won an unprecedented fourth consecutive gold…
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Biden Admin To Kill Republican Bill Letting U.S. Banks Custody Crypto
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Republican-led efforts to free up US banks to offer cryptocurrency custody services have been shut down by the Democratic-led White House. On Wednesday, the House discussed and prepared to vote on House Resolution 109 (HJ Res. 109), which would rescind prior accounting guidance from regulators to banks that plan to…
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Dollar steadies as traders eye Federal Rate path following soft U.S. jobs data By Investing.com
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Investing.com – The US dollar steadied on Monday after falling the previous week on weaker-than-expected non-farm payrolls data, prompting traders to raise the timeline for possible interest rate cuts from the Federal Reserve this year. At 04:31 EDT (08:31 GMT), US Dollars, which tracks the greenback against a basket of…
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Chinese President Xi Jinping begins charm offensive in Europe amid growing uncertainty about future U.S. support for allies
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Chinese President Xi Jinping has embarked on a three-country trip Trip to Europe Sunday with the continent divided over how to deal with Beijing’s growing power and the rivalry between the United States and China. European automakers are losing ground Supported Chinese electric cars. Diplomats are worried Alleged Chinese spies…
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Dead bodies in Mexico likely are missing U.S., Australian surfers By Reuters
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Written by Lizbeth Diaz MEXICO CITY (Reuters) – Three bodies found in the Mexican state of Baja California are likely those of Americans and two Australian tourists who went missing last week, a senior official from the Mexican state of Baja California said on Saturday. Mexican authorities are conducting forensic…
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Drugmaker Amneal agrees to $270 million U.S. opioid settlement By Reuters
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Written by Nate Raymond (Reuters) – Amnial Pharmaceuticals (Nasdaq) said on Friday it had reached an agreement worth more than $270 million to settle allegations that it helped fuel the deadly opioid epidemic in the United States, becoming the latest drug company to settle lawsuits over the addiction crisis sparked…
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Nippon Steel is putting off its $14.1bn takeover of U.S. Steel by 3 months
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Nippon Steel said on Friday it has postponed the expected closing of its $14.1 billion takeover of US Steel by three months after the US Department of Justice requested more documents related to the deal. The deal, which has already been approved by US Steel shareholders, is still expected to…
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Oil prices tumble to seven-week lows on surprise build in U.S. crude stocks (NYSEARCA:USO)
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Slavko Sereda/iStock via Getty Images Crude oil futures fell to their lowest levels in seven weeks on Wednesday after US data showed a sudden and sharp weekly increase in crude oil inventories, as exports fell and refineries reduced their capacity use. The US Energy Information Administration reported Crude oil stocks…