The Real Reason Oil Prices Aren’t At $80

The UAE’s awarding last week of a slew of huge drilling contracts aimed at increasing its crude oil output capacity from around 4 million barrels per day (bpd) to 5 million bpd underlines that the principal market risk from an oil trader’s perspective is still skewed towards further supply against a backdrop of an uneven bounce back in demand following the height of the global COVID-19 crisis in 2020. In the short- and medium-term, significant supply increases are likely to come from… Source link

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Tesla Strikes Deal With Top Miner BHP Over Nickel Supplies

(Bloomberg) — Tesla Inc. has struck a nickel-supply deal with BHP Group, as the electric-car maker seeks to protect itself from a future supply crunch. BHP will provide the automaker with the metal from its Nickel West operation in Western Australia, the world’s biggest miner said in a statement. BHP gave few further details, but said the companies would work together to make the battery supply chain more sustainable. Telsa’s billionaire boss, Elon Musk, has repeatedly expressed concern… Source link

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Futures xxx after 2 day rally, eyes on jobless claims

Futures ticked higher in Wednesday’s after-hours session, with investors looking to earnings and data for impetus to extend a 2-day rally that wiped out losses sustained during the worst trading day of 2021.  During the regular session, stocks rode a 2-day hot streak, calibrating a resurgence of COVID-19 cases against a red-hot economic expansion that continues to gain momentum. In the process, strong earnings have helped the market heal from Monday’s pandemic-inspired meltdown, with… Source link

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A fresh stimulus check may be on the way to you, thanks to your tax return

A fresh stimulus check may be on the way to you, thanks to your tax return More than four months after it started, the pandemic’s third round of stimulus checks is still going. The IRS says it continues to push out millions of relief payments — including extra money to people who already got a third check. The tax agency just announced it has sent out hundreds of thousands more bonus payments to Americans, based on information gleaned from recently filed tax returns. And over 1 million other… Source link

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The Home Depot and Google Cloud Expand Partnership to Enhance the Interconnected Shopping Experience |

ATLANTA and SUNNYVALE, Calif., July 21, 2021 /PRNewswire/ — Google Cloud and The Home Depot have extended their multi-year cloud partnership to expand on the retailer’s digital transformation and provide customers with enhanced shopping experiences by blending physical and digital environments. As one of the first major retailers to migrate its website to the cloud, The Home Depot has built upon Google Cloud’s expertise in infrastructure, artificial… Source link

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Netflix will face its biggest test yet when it breaks into gaming

This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe The video game business will be harder for Netflix than streaming Netflix (NFLX) may need to reinvent itself as people become unglued to their couches and streaming competition from the likes of Disney (DIS) and Amazon (AMZN) heats up. Just Tuesday, Netflix reported a third-quarter new subscriber… Source link

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Top White House economist says companies need to ‘pay a fair wage’

Despite a labor shortage brought about largely by the COVID-19 pandemic, companies can find workers by offering “fair wages,” Brian Deese, the top economic adviser to President Joe Biden, told Yahoo Finance on Monday. Deese, the Director of the National Economic Council, pointed to coronavirus fears and child care obligations amid remote schooling as key reasons why unemployed Americans have stayed on the sidelines. However, employers can overcome these obstacles by providing fair… Source link

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Hotel jobs have vanished…500,000 to be exact

The hotel industry is unlikely to fully recover from the COVID-19 pandemic-caused labor shortage anytime soon as it battles with retailers, restaurants and others for workers, while also dealing with a bumpy demand recovery.  About 500,000 direct hotel operations jobs lost during the pandemic in the U.S. will not have returned by the end of the year, according to a new study from the American Hotel & Lodging Association (AHLA). The U.S. hotel industry is expected to directly employ 1.86… Source link

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When self-driving cars are coming, for real

Self-driving features have been creeping into automobiles for years, and Tesla (TSLA) even calls its autonomous system “full self-driving.” That’s hype, not reality: There’s still no car on the market that can drive itself under all conditions with no human input. But researchers are getting close, and automotive supplier Mobileye just announced it’s deploying a fleet of self-driving prototypes in New York City, to test its technology against hostile drivers, unrepentant jaywalkers,… Source link

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Bitcoin’s 50% Drop From Peak Hammers Crypto Loans, Derivatives

(Bloomberg) — The 2021 Bitcoin bubble is deflating and hitting a $1.3 trillion industry built on to-the-moon speculation and rampant leverage. The damage from the latest selloff is spreading across the world of crypto loans, options and futures — wiping out money-spinning strategies from the famous basis trade to yield farming. Even with Wednesday’s rebound, Bitcoin at around $31,700 is still trading near the lower end of its range over the past two months, and down about 50% from the April… Source link

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