Author: News Room

By Barani Krishnan Investing.com — Oil and water do not mix, just like how common sense and bullish hype driven by OPEC don’t.  But so long as the world’s cartel of oil producers says it, the market appears to believe it.  That was the case on Thursday as crude prices gave back a little of their upward momentum after OPEC cautioned about demand for its oil — on the realization that a recession could hurt the market.  In a report released on Thursday, OPEC flagged downside risks to summer oil demand as part of the backdrop to output cuts announced…

© Reuters. FILE PHOTO: New Lexus automobiles are shown for sale after California Governor Gavin Newsom announced the state will ban the sale of new gasoline powered passenger cars and trucks starting in 2035 in a dramatic move to shift to electric vehicles to curtai By David Shepardson WASHINGTON (Reuters) -The U.S. Environmental Protection Agency (EPA) on Wednesday proposed sweeping emissions cuts for new cars and trucks through 2032, a move it says could mean two out of every three new vehicles automakers sell will be electric within a decade. The proposal, if finalized, represents the most aggressive U.S. vehicle…

The numbers: Cash-strapped banks borrowed $139.5 billion in emergency lending from the Federal Reserve in the week ended April 12, according to data released by the central bank Thursday. That was down from $148.7 billion last week and $154 billion two weeks ago. It’s also down from a peak of $300 billion in mid-March, when Silicon Valley Bank collapsed. Key details: Banks borrowed $67.6 billion from the Fed using the traditional “discount window” in the week ended April 12, compared with $69.7 in the prior week. The… Read the full article here

Amazon.com Inc. said Thursday that its cloud business, Amazon Web Services — with its $85 billion annualized revenue run rate — is facing short-term headwinds as companies become more cautious about spending. Given the challenging macroeconomic backdrop, the AWS support team is spending more time helping customers optimize their cloud spending, Chief Executive Andy Jassy wrote in his annual letter to shareholders. “Many… Read the full article here

Shares of Harley-Davidson fell Thursday, as markets continued to digest the departure of the company’s chief financial officer and Wall Street analysts’ gloomier sales outlooks. On Wednesday evening,  Harley-Davidson (ticker: HOG) said its Chief Financial Officer Gina Goetter will step down at the end of the month. David Viney, vice president and treasurer will serve as interim CFO effective April 28. Goetter will transition to Hasbro (HAS) as CFO effective May 18.  “We believe this move reflects a broader role and compensation opportunity for Goetter rather than issues at HOG,” wrote BofA Securities analyst Robert Ohmes in a Wednesday report.…

The military identified 11 additional cases of traumatic brain injury following a series of rocket and drone attacks on US troops in Syria in late March, according to a spokesman for US Central Command. The new cases bring the number of US personnel wounded in the attacks to a total of 25, including one US contractor who was killed at a facility in northeast Syria on March 23. “Our medical teams continue to assess and evaluate our troops for indications of [traumatic brain injury],” said Col. Joe Buccino, spokesman for CENTCOM. The series of attacks on US troops in Syria…

Singapore has asked the world’s biggest banks to avoid discussing the origins of the significant sums of money flowing into the city over the past year, as wealthy Chinese funnel billions into the Asian financial hub.The tacit directive from the Monetary Authority of Singapore was given during a February 20 meeting of an industry group made up of bankers and regulators, according to multiple people who attended.The flow from China into Singapore has become a politically sensitive issue domestically, and the MAS wants banks to keep public discussion of the phenomenon to a minimum, said three people with knowledge of…

Note: I have covered Imperial Petroleum (NASDAQ:IMPP, NASDAQ:IMPPP) previously, so investors should view this as an update to my earlier articles on the company. Since its late-2021 spin-off from StealthGas (GASS), Imperial Petroleum’s ongoing strategy to pursue growth at the expense of common shareholders has resulted in outsized dilution. Since inception, the company raised approximately $170 million in new capital, thus causing outstanding common shares to increase by more than 4,000%. Between December 16, 2022 and March 13, 2023, the company sold 50.8 million new common shares into the open market under its recently terminated $50 million ATM program at…

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Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.Lysin Finance is thrilled to unveil Erinzi (ENZ) and Lirum (LIR), crafted to enhance the value within the cryptocurrency sphere. The protocol aspires to instill equilibrium in the industry by administering a stablecoin linked to the worth of traditional currency, while employing smart contracts for managing ENZ and LIR equilibrium.Lysin Finance’s objective is to render investment opportunities available to all via the forthcoming pre-sale occasion and token debut. Through these pioneering advancements, they are taking considerable steps in tapping into the possibilities of decentralized finance using their…