Shell Earnings Rose on Higher Energy Prices; Launches $3.5 Bln Buyback

Shell’s third-quarter earnings rose on higher refining margins, oil prices and gas and oil sales, while it launched a $3.5 billion share buyback program. The energy giant on Thursday reported adjusted earnings of $6.22 billion for the quarter, up from $5.07 billion in the preceding quarter, but a slight miss to market expectations of $6.25 … Read more

Gold prices rise on bets of no more Fed rate hikes, but gains limited– Gold prices rose on Thursday, encouraged by a weaker dollar and Treasury yields after the Federal Reserve struck a less hawkish tone than expected, although gains in the yellow metal were limited by increased risk appetite., as widely expected, on Wednesday. But comments from Fed Chair Jerome Powell saw markets pricing in a diminished … Read more

UK house prices show surprise rise in October -Nationwide

Year on year October prices were down 3.3%, a less sharp fall than September’s 5.3% drop, Nationwide said.”The uptick in house prices in October most likely reflects the fact that the supply of properties on the market is constrained,” Nationwide Chief Economist Robert Gardner said. There was little evidence of forced selling of homes, which … Read more

Auto strike settlements will raise costs for Detroit’s Big 3. Will they be able to raise prices?

October 31, 2023 at 1:57 pm PDTFile -A Ford Bronco is displayed at a Gus Machado Ford dealership on Jan. 23, 2023, in Hialeah, Fla. New union agreements with Detroit automakers reached during the past week will cost Ford, Stellantis and General Motors over $1 billion per year by the time they take effect in … Read more

Oil ends lower for the session, with U.S. prices down nearly 11% for the month

Oil futures declined on Tuesday, with U.S. prices posting a loss of nearly 11% for the month. For now, the risks tied to the conflict in the Middle East “appear contained,” said Michael Hewson, chief market analyst at CMC Markets UK. “However, there remains a clear and present danger that the conflict might spread wider.” … Read more

Oil prices look to post a loss for the month as fears of wider Israel-Hamas war fade

An earlier version of this story referred to the wrong day of the week. The article has been corrcted. Oil futures traded lower Tuesday afternoon, after dropping more than 3% the previous session, and remained on track for monthly losses as a risk premium tied to fears the Israel-Hamas war could threaten crude supplies eroded. … Read more

McDonald’s, Chipotle hiking menu prices after California raises fast-food minimum wage

My ‘naked’ McDonald’s order is ‘irritating’ but also delicious and healthysaid Monday the fast-food giant will hike prices in California after Gov. Gavin Newsom recently signed into law a measure that would give wage earners a $20-an-hour minimum — although the company hasn’t yet decided by how much. The Chicago-based burger chain — which cited … Read more

Europe’s inflation eased to 2.9% in October thanks to lower fuel prices. But growth has vanished.

FRANKFURT, Germany (AP) — The inflation that has been wearing on European consumers fell sharply to 2.9% in October, its lowest in more than two years as fuel prices fell and rapid interest rate hikes from the European Central Bank took hold. But that encouraging news was balanced by official figures showing economic output in … Read more

Commodities are officially the best performing asset class of 2023 – Where will prices go from here? [Video]

Another day and another Commodity hits new record highs. That’s one of the most lucrative trends of the current financial climate that we find ourselves in right now! A long list of the world’s most powerful Wall Street banks have described thecurrent economic climate as “The Golden Age of Trading”. The big question now is … Read more