shaunl/iStock Unreleased via Getty Images Hapag-Lloyd (OTCPK:HPGLY) (OTCPK:HLAGF) shares surge 6% in German trading Wednesday after the shipping company raised its full-year profit outlook following a better than expected performance in H1 2024. The shipping company said it expects the year’s second half will top expectations thanks to recent strongContinue Reading
Spencer Platt/Getty Images News Honeywell (NASDAQ:HON) said Wednesday it agreed to acquire Air Products’ (APD) liquefied natural gas process technology and equipment business for $1.81B in cash, allowing it to expand its offerings as the share of liquefied natural gas in the global gas supply continues to grow. Honeywell (HON)Continue Reading
baona The annual inflation rate in China ticked lower to 0.2% in June 2024 from 0.3% in the previous month, marking the fifth consecutive month of consumer inflation, albeit the lowest rate since March, amid weak domestic demand. Meanwhile, producer prices decreased by 0.8% year-on-year, in line with forecasts andContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures fell Monday after Hurricane Beryl hit Texas and weakened to a tropical storm, with little apparent impact on refining activity and limited effects on offshore production. But while Beryl is unlikely to cause significant interruptions in fuel supply, heavy rains and flooding inContinue Reading
sharrocks/iStock Unreleased via Getty Images UBS said PNC Financial (NYSE:PNC) appears better positioned to benefit from an improvement in demand, as it awaits the return to broader loan growth during the second half of the year. The brokerage upgraded PNC to Buy from Neutral on Monday and set a PTContinue Reading
DKart Passenger car sales in China dropped for the third consecutive month in June despite price reductions and government incentives, highlighting a persistent weakness in consumer demand. June experienced a 6.9% decline in vehicle sales compared to the last year. Previously, May saw a 2.2% drop, and April saw aContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures settle lower on the day while notching a fourth straight weekly increase, helped by a much larger than expected drop in U.S. crude inventories, renewed hopes that the U.S. Federal Reserve might start cutting interest rates soon, and heightened geopolitical risks in theContinue Reading
abadonian The boom in artificial intelligence technology development and demand sets up companies focused on natural gas as trend winners, Wells Fargo Investment Institute (WFII) said. Midstream energy companies focused on natural gas should be visible long-term beneficiaries from the build out of data-center capacity in the U.S. to runContinue Reading
anatoliy_gleb/iStock via Getty Images J.P. Morgan (JPM) foresees an acceleration in demand for oil, as it expects a travel trend that emerged from the pandemic to keep running. In the firm’s 2024 mid-year outlook released last last week, its commodity analysts said they expected a seasonal uptick in oil demandContinue Reading
Hollie Adams/Getty Images News Uber Technologies (NYSE:UBER) announced that it is bringing its yacht service to Ibiza and will introduce different water-transport offerings to other European cities. The Uber Yacht service will be available to pre-book on the Spanish island of Ibiza on July 26 for trips starting in August.Continue Reading
