Apple Inc. 

From the sixth-generation telecom network that could download the entire collection of the New York Public Library in 20 seconds to wireless electricity, things that could radically change people’s lives are not far into the future as one might think, according to strategists led by Haim Israel, BofA’s head of global thematic investing research.

House Democrats are on track Wednesday to advance through committee the tax provisions to pay for President Joe Biden’s economic agenda, sending revenue measures worth some $2 trillion to the Budget Committee. 

It’s still unclear how Democrats will handle key tax provisions, including removing or boosting the $10,000 cap on the federal deduction for state and local taxes, or SALT. Also uncertain is the fate of a proposal to require banks and other financial institutions to report data on customers’ account outflows and inflows to the IRS -- bolstering tax-collection efforts. 

The meeting started with a thank-you. President-elect Donald Trump was planted at a long table on the 25th floor of his Manhattan tower. Trump sat dead center, per custom, and, also per custom, looked deeply satisfied with himself. He was joined by his usual coterie of lackeys and advisers and, for a change, the heads of the largest technology companies in the world.

“These are monster companies,” Trump declared, beaming at a

In a boon for U.S. states that tax gambling revenue, the nation’s commercial casinos are earning record sums as Americans hungry for leisure and entertainment storm back to play blackjack, work the slots and bet on sports.

July was a historic month for commercial casinos, which earned $4.83 billion after paying out winnings, according to the latest data from the

Europe’s soaring energy markets are exposing the risk of power blackouts this winter, especially if freezing weather worsens the region’s already exceptionally low natural gas inventories, according to Goldman Sachs Group Inc. 

Brent crude futures hit $75 for the first time since Aug. 2 as the market continues to grapple with curbed supply in the U.S.

The global benchmark added as much as 1.9% to $75.02 a barrel at 9:05 a.m. in New York. 

The largest fuel conduit in North America has fully resumed shipments of gasoline and diesel from Texas to the East Coast. 

Colonial Pipeline Co. restarted diesel shipments Wednesday morning, spokesperson Eric Abercrombie said in an email. The company had restored gasoline service Tuesday. Both lines were down after Hurricane Nicholas’s winds knocked out power to almost half a million homes and businesses in Texas. 

The global economy is expected to undergo its fastest recovery in almost five decades this year, but deepening inequities between advanced and developing countries threaten to undermine this, the United Nations warned.

Following last year’s 3.5% contraction, world gross domestic product will likely surge 5.3% in 2021 due to “radical” policy interventions and a successful, if incomplete, vaccine rollout in advanced economies, the UN Conference on Trade and Development said in a report Wednesday. 

Hurricane Ida struck the heart of the U.S. fertilizer industry, and now a second storm threatens even more damage in the Gulf of Mexico, potentially driving up the cost to produce food.

Prices for major fertilizers

Oil clung to gains after a U.S. government report showing a bigger-than-expected decline in crude stockpiles signaled a rapidly tightening market. 

Global benchmark Brent crude rose above $75 a barrel for the first time since early August, while U.S. crude futures surged as much as 3.6% on Wednesday. Domestic crude stockpiles fell for a sixth straight week to the lowest since September 2019 and gasoline inventories also declined, according to Energy Information Administration data. The crude supply decline of more than 6 million barrels was larger than the industry-funded American Petroleum Institute’s

Canadian home prices continued to rise in August as the country’s market remained historically tight.

Benchmark home prices climbed 0.9% from July and were up 21% from last year, according to data released Wednesday by the Canadian Real Estate Association. With both the number of transactions and new supply relatively flat in August, sales as a share of new listings -- a measure of market tightness -- remained elevated at 72%. That’s well above long-term average of around 55%.

tighten its grip on the world’s biggest gambling hub, the junket operator had just one thing to say: sell. 

“There is no hope in Macau,” the executive said in an interview, declining to be named on concern there could be fallout for their business, which facilitates loans for bettors in Macau. 

U.S. casino firms with exposure to Macau tumbled on Wednesday, extending a slump that started in the prior session after officials in the Asian gaming hub said they would tighten restrictions on operators.

Europe’s energy ambitions are clear: to shift to a low-carbon future by remaking its power generating and distribution systems. But the present situation is an expensive mess. A global supply crunch for natural gas, bottlenecks for renewable energy and wind speeds in the North Sea among the

Production at U.S. factories rose less than expected in August as Hurricane Ida compounded an ongoing struggle among manufacturers with shortages of materials and labor. 

The 0.2% increase followed an upwardly revised 1.6% gain in July, Federal Reserve data showed Wednesday. Total industrial production, which also includes mining and utility output, rose 0.4% in August to finally lift the index above its pre-pandemic level.

Brazil’s recovery slowed less than expected in July according to the central bank’s main gauge of activity, as Latin America’s economy grapples with above-target inflation and political tensions.

The central bank’s economic activity index, a proxy for gross domestic product, rose 0.60% on the month in July, more than the 0.35% median estimate in a Bloomberg survey, the bank reported on Wednesday. June’s reading was revised to 0.92% from 1.14%. On the year, activity rose 5.53%.

report showed the pace of consumer price growth was less than forecast in August. The rate on the 10-year benchmark note has declined 9 basis points in the past week to 1.28% Wednesday -- defying expectations that rebounding growth and inflation are set to push yields higher.

stepped in during practically every pullback this year, but the scale of their interventions is getting smaller, according to data compiled by Vanda Research, which tracks traffic on retail trading platforms and industry-wide order flows.

U.S. futures were steady, while European stocks declined as traders contemplated mixed data on the global recovery. 

Contracts on the S&P 500 and Nasdaq 100 were little changed after Tuesday’s declines in the underlying indexes. Casino companies fell in pre-market trading after Chinese officials said they would change regulations to tighten restrictions on operators. The 10-year Treasury yield ticked lower and the dollar weakened against major peers. 

Carlyle Group, according to a statement reviewed by Bloomberg News. 

The deal values Boston-based CFGI at $1.85 billion. Carlyle is reinvesting in the deal along with CFGI co-founders and co-chief executive officers Nick Nardone and Shane Caiazzo. Other terms weren’t disclosed. 

Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market.

Global benchmark Brent rose above $74, while West Texas Intermediate advanced for a fourth day. The industry-funded American Petroleum Institute reported Tuesday that nationwide crude stockpiles fell 5.44 million barrels last week, according to people familiar with the matter. Official government data will be released later Wednesday, and the dollar weakened, an incentive for some investors to buy dollar-priced commodities.