ExxonMobil’s second-quarter profits more than doubled those of a year earlier to $14.5 billion as its 24 refineries around the world ran flat out replacing missing fuel supplies cut off by the Iran War.
Author: admin
Post
U.S. PUBLIC COMPANIES REPORT HEFTY SECOND-QUARTER PROFITS
Companies listed on the Standard & Poor’s 500 are on track to report second-quarter earnings – net profits after all expenses are paid – 47.4 percent higher than a year earlier, making it the most robust quarter in five years, data service FactSet reported.
Post
AI’S RISING DEBT LEVEL IS CREATING A “CRISIS OF CONFIDENCE”
The debt load taken on by AI hyperscalers is becoming increasingly risky, according to something called the Altman Z-Score, a key measure of risk associated with corporate debt.
Post
MORTGAGE RATES HIGHEST IN A YEAR
During the week of 31 July, the U.S. national average mortgage interest rate on a 30-year, fixed-rate loan rose to 6.66 percent from 6.58 percent the week before, the Federal Home Loan Mortgage Corp. reported.
Post
U.S. GOVERNMENT BORROWING COST IS HIGHEST SINCE 2007
On 30 July, the interest rate the U.S. government paid on its 30-year bond edged up 0.14 of a percentage point to about 5.25 percent, its highest in 19 years.
Post
A KEY MEASURE OF CONSUMER CONFIDENCE DECLINED IN JULY
American consumers were less confident about current economic conditions in July than they were in June, according to the latest monthly survey from The Conference Board.
Post
U.S. OIL AND GASOLINE RESERVES ARE “PRECARIOUSLY LOW”
Commercial crude oil reserves dropped by 7.2 million barrels during the week ending 24 July and last month the U.S. Strategic Petroleum Reserve (SPR) went down another 3.8 million barrels as U.S. refineries continued running at between 97 and 100 percent of capacity.
Post
U.S. ECONOMIC GROWTH SLOWS TO 1.5 PERCENT IN SECOND QUARTER
The U.S. GDP expanded by 1.5 percent across April, May, and June, falling far short of the first quarter’s 2.1-percent growth and missing analysts’ expectations in a Bloomberg survey of a 2-percent bump.
Post
GOING OUT OF BUSINESS TRENDS
The economic slowdown continues to leave its mark on Main Street and corporate America alike.
Post
WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The layoff machine keeps rolling from banking and technology to healthcare, media, automotive manufacturing, education, and local government as companies slash costs, automate operations, and brace for an increasingly uncertain future.