Tag: Cuts
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Oil up as IEA sees 2023 demand spike; Strong dollar cuts gains
[ad_1] By Barani Krishnan Investing.com — Oil markets rose for a fourth consecutive week, riding on global energy agency IEA’s upgraded demand prospects for 2023, although gains for Friday were cut by a resurgent , which is usually bearish for commodities. New York-traded West Texas Intermediate, or , settled up 36 cents, or 0.4%, on…
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IMF Cuts Pakistan’s Growth Outlook to 0.5%, Nation to Face High Inflation, Unemployment
[ad_1] People stand by a makeshift stall selling imported general items in a market in Karachi, Pakistan (Image: Reuters) Pakistan’s economy suffers as IMF lowers growth rate projection to 0.5%, predicts soaring inflation and unemployment The International Monetary Fund (IMF) on Tuesday reduced Pakistan’s GDP growth rate projection for the current fiscal year to 0.5%…
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Apple to make small number of job cuts in some corporate retail teams
[ad_1] Credit: CC0 Public Domain Apple Inc. is eliminating a small number of roles within its corporate retail teams, according to people with knowledge of the matter, marking its first known internal job cuts since it embarked on a belt-tightening effort last year. The company is shedding positions in what it calls its development and…
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OPEC supply cuts may have been aimed at short-sellers – UBS
[ad_1] By Geoffrey Smith Investing.com — The surprise production cuts announced by nine members of the ‘OPEC+’ group at the weekend may have been aimed at crude short-sellers as much as anything else, according to analysts at UBS. Giovanni Staunovo, a commodities strategist with UBS’ Chief Investment Office, said in a note to clients that…
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Oil prices soar on producer output cuts; Asian shares mixed – Winnipeg Free Press
[ad_1] BANGKOK (AP) — Oil prices soared more than 5% after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year. Shares in Asia were mixed on Monday and the dollar rose against the Japanese yen. U.S. benchmark crude…
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BBC condemned by King Charles’s Coronation conductor after choir cuts | Music | Entertainment
[ad_1] Sir John Eliot Gardiner, described as one of the world’s greatest conductors, has said cuts announced by the BBC are both “draconian” and “appalling”. The BBC Singers choir was announced as one of the casualties of the money-saving spree earlier this month, which Sir John said demonstrated that the corporation’s “top brass” does not…
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Goldman Cuts Oil Forecast to Under $100 After Turning Highly Bullish: Here’s Why
[ad_1] By Malvika Gurung Investing.com — The global investment banking giant Goldman Sachs (NYSE:) has pared its projections for the oil counter Futures to under $100/barrel in 2023 after turning bullish on the commodity in December 2022. It has cut the forecast on Brent crude to an average of $94/barrel in the next 12 months while…
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Oil cuts weekly loss as benign U.S. jobs growth signals ‘kinder Fed’
[ad_1] By Barani Krishnan Investing.com — The brouhaha over what the U.S. jobs report for February will bring is over and the Federal Reserve’s wary eyes are now on the reading for consumer prices, due Tuesday. Yet, talk is growing that the central bank will be kinder with its March rate hike, helping oil markets…
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Oil bulls turn red week to neutral by clinging onto Russia cuts story
[ad_1] By Barani Krishnan Investing.com — Oil bulls turned a losing week into a neutral one by leveraging upon an unverified report about deep production cuts planned by Russia to send crude prices up a second day in a row, despite U.S. inflation data suggesting the Federal Reserve could turn aggressive again on rate hikes.…
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Crude oil edges higher; potential Russian output cuts help tone
[ad_1] By Peter Nurse Investing.com — Oil prices edged higher Friday as the likelihood of hefty cuts to Russian crude exports outweighed rising inventories in the United States and concerns over global economic activity. By 08:45 ET (13:45 GMT), futures traded 0.2% higher at $75.50 a barrel, while the contract rose 0.2% to $82.33 a…