World Gold Council on What Drives the Shiny Metal’s Price
During periods of turmoil, gold tends to make headlines as fans of the precious metal argue it can act as a safe haven. But is it also an inflation hedge? Is it considered a risk asset?
Bloomberg Business
Los Angeles City Workers Set to Hold 24-Hour Strike on Tuesday
Los Angeles public employees citing “repeated labor law violations” said they will stop work for 24 hours on Tuesday, adding to strikes in the city by Hollywood writers and hospitality workers.
Texas Power Prices to Surge 800% on Sunday Amid Searing Heat
Texas power prices for Sunday surged more than 800% as searing heat pushes demand toward record levels and strains supplies on the state grid.
High-Risk Loans Return as Recession Risk Fades
It’s hard to pass up a good rally in US leveraged finance markets, particularly if you’re a bank with a bunch of debt that’s been stuck on the balance sheet for months.
Nigerian Lawmakers Seek Diplomatic Solution to Niger’s Coup
Nigerian lawmakers urged diplomacy to reverse the coup in neighboring Niger after West African defense chiefs agreed to a plan for potential military intervention.
Wall Street Forecasts Project Profit Recession Ends Next Quarter
With Corporate America’s earnings season nearing an end, the takeaway is clear: Challenges remain, but for a broad swath of companies the worst of the profit pain is likely over as margin-shredding inflation pressures ease.
Prosecutors Alert Judge to Trump’s ‘Coming After You!’ Post
(Bloomberg) — US attorneys alerted a judge about a social media post made by Donald Trump that could be taken as a threat to those involved in several of the criminal and civil cases arrayed against him.
Ukraine Attacks Russian Oil Tanker, Says Black Sea Ports at Risk
Ukraine attacked an oil tanker it said was supplying Russian forces and warned that ports, including commodity hubs, may be at risk in the latest escalation in the area around the Black Sea.
Saudis Boost Most Oil Prices to Asia, Europe as Market Tightens
Saudi Arabia raised nearly all oil prices for September to Asia and Europe as supply restrictions and rising demand tightens the crude market.
Berkshire Operating Earnings Jump on Insurance Strength
Warren Buffett’s Berkshire Hathaway Inc. posted gains in operating profit as strength in its insurance businesses helped counter inflationary pressures that have weighed on the sprawling conglomerate in the last year.
