Author: News Room

By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil Corp’s Low Carbon business has the potential to generate hundreds of billions of dollars in revenue and outperform the company’s traditional oil and gas as soon as a decade from now, CEO Darren Woods said. The largest U.S. oil producer on Tuesday laid out to investors the aims of its emerging energy transition strategy in a meeting with Wall Street. Exxon is tackling what should be a multi-trillion market in 10 years or more, Woods said. The result will be an Exxon less prone to commodity price swings through predictable, long-term contracts with…

© Reuters. Japan stocks higher at close of trade; Nikkei 225 up 0.17% Investing.com – Japan stocks were higher after the close on Friday, as gains in the , and sectors led shares higher. At the close in Tokyo, the rose 0.17%. The best performers of the session on the were Tokyo Electron Ltd. (TYO:), which rose 2.22% or 335.00 points to trade at 15,400.00 at the close. Meanwhile, Okuma Corp. (TYO:) added 2.15% or 120.00 points to end at 5,700.00 and Ricoh Co., Ltd. (TYO:) was up 2.03% or 20.00 points to 1,007.00 in late trade. The worst performers…

Recent bank failures have blown a $22.5 billion hole in the insurance fund that protects bank customers–sparking a debate over who will pay to patch it up.  The collapse of Silicon Valley Bank is expected to cost the Federal Deposit Insurance Corp.’s deposit insurance fund roughly $20 billion, the agency estimates, while Signature Bank SBNY, +3.97%’s failure will cost about $2.5 billion. The bulk of those costs relate to covering deposits at the two banks that exceeded the standard federal deposit-insurance limit of $250,000, FDIC chair Martin Gruenberg said in Congressional testimony this week.  The FDIC in May will propose…

I just bought a used electric vehicle, so now I’d like to install a solar array to offset the additional electricity use. My tax liability for 2023 will be enough to get full benefit of the used EV tax credit or the (guesstimated) solar tax credit. But not enough for both.  If I claim both for 2023, will the IRS apply the EV credit first and let me roll over the solar credit to 2024? Or will it apply the solar credit first, which means I get nothing for the EV credit since it doesn’t roll over?  If the latter I’ll…

Hello! In this week’s ETF Wrap, I caught up with BlackRock’s Gargi Chaudhuri and State Street Global Advisors’s Matthew Bartolini on where investors have been putting their capital and why.Please send feedback and tips to [email protected]. You can also follow me on Twitter at @cidzelis and find me on LinkedIn. Bonds have been the hot spot for money flowing into exchange-traded funds this year.  ETFs that buy bonds raked in $53 billion during the first quarter, or 65% of total inflows for U.S.-listed exchange-traded funds, according to a State Street Global Advisors report. That amounted to 114% more than the historical 10-year average…

Three years after the start of the Covid-19 pandemic, Americans’ views of the disease’s impact have stagnated into a complex set of mixed feelings, recent polling suggests, with few believing that the pandemic has ended but most also saying that their lives had returned mostly – if not entirely – to normal. The US Senate passed a bill last week that would end the national Covid-19 emergency declared in March 2020. The US House approved the measure earlier this year, and the White House has said President Joe Biden will sign it despite “strongly” opposing the bill. The administration had…

US health secretary Xavier Becerra said the Biden administration was weighing “every option” to fight a Texas judge’s “reckless” ruling that would withdraw approval for an abortion drug if upheld.Becerra said the decision by Texas federal judge Matthew Kacsmaryk would imperil women’s access to critical healthcare in America, as well as threaten the entire approval process of the US Food and Drug Administration.“What you saw by that one judge in that one court in that one state — that’s not America,” Becerra said on CNN on Sunday.“America goes by the evidence. America does what’s fair. America does what is transparent and…

Since the start of the pandemic, the markets, especially the SPDR® S&P 500 ETF Trust (NYSEARCA:SPY) seem to be moving in sync with dollar liquidity characterized by the proxy for liquidity measured in its most popular form by the Total size of the Federal Reserve balance sheet minus the amounts “trapped” in the Treasury General account and the Reverse Repo facility of the Federal Reserve. I won’t go into the details of why dollar liquidity is so important for the evolution of asset inflation or deflation as this article would be excessively long but here you can find an excellent…

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