Prices were at $3.99 figures released Thursday showed, continuing a downward trend for almost two months. Costs have fallen with cheaper oil and relatively weak demand. By one measure, fuel consumption has recently been
- International Energy Agency.
Gradual monthly declines will start as soon as this month as Russia cuts back refining, and will quicken as the embargo takes effect, the IEA said in a market report. The agency expects to see close to 2 million barrels a day shut in by the start of 2023, despite a healthy recovery in production in recent months.
Chile’s congress gave its final approval to a bill that makes it easier to amend the current constitution as polls show more voters inclined to reject the proposed new charter in next month’s referendum.
The lower house on Wednesday voted 130 to 15 in favor of legislation lowering the congressional majority needed for those amendments to four-sevenths, following senate approval of the bill
- statement. Rajapaksa had fled to the Southeast Asian country after months of anti-government protests.
The statement gave no other details on the ousted leader’s travel plans. However, Thailand’s government confirmed Wednesday that Rajapaksa is
- Volvo AB is proving that Europe’s sleepy market for new corporate-bond issues is still open -- as long as the returns are high enough to lure investors in.
Volvo Treasury AB, the financing arm of the vehicle maker and one of Sweden’s biggest corporate-bond issuers, pulled in more than 3 billion euros ($3 billion) of bids for a 500 million-euro
Top shareholder Saudi Arabia has been supportive of Lucid Group Inc. during a supply crunch that forced two production target cuts this year, an official at the carmaker said on Thursday.
As US public health authorities deploy a new strategy to expand access to the monkeypox vaccine, they need to be more clear and open about exactly what protection the shots can provide.
The Food and Drug Administration this week issued emergency authorization to administer a small dose of Bavarian Nordic’s Jynneos vaccine — one-fifth the usual size — within the skin, or intradermally, rather than under the skin. About 440,000 of the 600,000 recently allocated doses of Jynneos remain, an official from the Department of Health and Human Services explained, and the new strategy will stretch that supply into 2.2 million shots.
It’s trendy for employers to offer unlimited paid time off, and for good reason: To workers, it seems like a dream. Roughly 1 in 10 companies has adopted such plans, and they’re motivated by four primary benefits, none of which directly relate to employee leave.
All these benefits can blind an organization to the problems of unlimited PTO. The policy doesn’t work with hourly employees (unlimited unpaid time off can), and it can breed inequity and inconsistency, because it depends on manager approval. And, critically, a simple unlimited PTO policy doesn’t fix the problem of burnout among employees who don’t take enough time away from the office. With unlimited PTO, the always-on mentality can slip in, manifesting in people answering emails even while attempting to take time away from work, because they’re worried that a colleague who’s in the office—not lounging on the beach—might get an edge on a promotion.
- Heathrow airport Chief Executive Officer John Holland-Kaye defended a flight cap that’s truncated airline schedules and upset travel plans for thousands of Britons, saying the move has greatly reduced delays.
The limit of 100,000 daily departing passengers has delivered improvements to the customer experience, with fewer last-minute cancellations and better aircraft punctuality and baggage delivery, Holland-Kaye said in a statement Thursday.
A key measure of US producer prices unexpectedly fell in July for the first time in more than two years, largely reflecting a drop in energy costs and representing a welcome moderation in inflationary pressures.
The producer price index for final demand decreased 0.5% from a month earlier and rose 9.8% from a year ago, Labor Department data showed Thursday. The pullback was due to a decline in the costs of goods, though services prices only edged up.
- post Covid-19 condition were roughly half those found in healthy, uninfected people or individuals who fully recovered from the pandemic disease, researchers at Yale School of Medicine in Connecticut and the Icahn School of Medicine at Mount Sinai in New York found.
- Allison Schrager is a Bloomberg Opinion columnist covering economics. A senior fellow at the Manhattan Institute, she is author of “An Economist Walks Into a Brothel: And Other Unexpected Places to Understand Risk.” @AllisonSchrager
An unexpected decline in Swedish long-term inflation expectations could ease pressure on the country’s central bank to accelerate interest rate increases next month.
Money market players in the Nordic nation now see price increases according to the
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Explosions at a Russian airbase in Crimea that Ukraine says destroyed nine fighter aircraft may indicate new Ukrainian offensive capabilities that complicate Kremlin efforts to support its invading forces, according to European intelligence officials and defense analysts.
“In just one day, the occupiers lost 10 combat aircraft, nine in Crimea and one more in the direction of Zaporizhzhia,” Ukrainian President Volodymyr Zelenskiy said in his nightly video address to the nation. More Russian armored vehicles, ammunition warehouses and logistics routes were also destroyed, and “the more losses the occupiers suffer, the sooner we will be able to liberate our land,” he said.
- Consus Real Estate subsidiary, were sold to institutional investors at a price 13.6% below the gross asset value as of December, reflecting a “challenging market environment,” Adler said in a statement on Thursday.
Italy’s centrist parties agreed to form a new alliance ahead of general elections in September to challenge both the right-wing coalition led by Giorgia Meloni and the Democrats.
Former Prime Minister Matteo Renzi’s party Italy Alive will join forces with Carlo Calenda’s Azione, after the latter
Applications for US unemployment insurance rose for a second week and held near the highest level since November, indicating continued moderation in the labor market.
Initial unemployment claims increased by 14,000 to 262,000 in the week ended Aug. 6, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 265,000 applications.
- TreeHouse Foods Inc.’s meal-prep business for $950 million.
The business, which operates 14 manufacturing facilities in the US, Canada and Italy plus 19 distribution centers, is expected to generate about $1.6 billion in net sales this year and earnings before interest, taxes, depreciation and amortization of $70 million, according to a statement Thursday.
- Clara Ferreira Marques is a Bloomberg Opinion columnist and editorial board member covering foreign affairs and climate. Previously, she worked for Reuters in Hong Kong, Singapore, India, the U.K., Italy and Russia. @ClaraDFMarques
The Philippine central bank will close its regular application window for new virtual asset service provider licenses for three years beginning September, it said in a memorandum.
The regulator said it “aims to strike a balance between promoting innovation in the financial sector and ensuring that associated risks remain within manageable levels.”
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