Oil prices are hovering near a two-week high as expectations that the United States may release supplies from its strategic oil reserves have eased. According to reports, President Joe Biden has been considering using US oil inventories to help reduce gasoline prices. Data released by the US government on Tuesday predicts that the oil market will be oversupply early next year and oil prices will fall, alleviating concerns that Biden will release inventories.
Helge Andre Martinsen, senior oil analyst at DNB Markets, said: "President Biden has given up on the immediate release of SPR inventory, and the market is aware of the lack of tools in the President's toolbox to reduce oil prices."
European benchmark natural gas prices fell after falling about 10% during the trading hours on Tuesday. ING’s Warren Patterson said that many factors are at play, including “Gazprom’s announcement that they have approved and launched a plan to inject natural gas into five storage facilities in Europe in November.”
He added: “There are also signs of an increase in the flow of natural gas from Russia to Europe, which helps alleviate some concerns about tight supply in the European market.
Helge Andre Martinsen of DNB Markets said that despite the increase in supply from Poland to Germany and Ukraine to Slovenia, the supply to the Velke Kapusany facility in Slovakia on Tuesday "dropped sharply", although he added that it may rebound today.
The price of precious metals fluctuates before the release of US inflation data, which will be the key to affecting the Fed's interest rate outlook. Comex gold futures fell slightly, but were still close to their highest level in two months. Silver futures fell slightly by 0.1%.
Google loses appeal against EU's $2.8 billion shopping ad fine
The European Court of Justice upheld Google's $2.8 billion antitrust ruling to a large extent, adding new impetus to the EU's attacks on large technology companies.
The EU General Court in Luxembourg on Wednesday approved the results of the 2017 antitrust investigation by the EU competition regulator, that the Alphabet Inc. search engine violated the antitrust by directing users to its own comparative shopping ads at the expense of competitors’ services. Monopoly law.
The promise of the Chinese market has become a threat to Adidas
BERLIN-In March of this year, Adidas called China its biggest growth engine. The German sportswear company aims to win Gen Z consumers there and uses the Beijing 2022 Winter Olympics to showcase its brand.
Now China has become a burden.
Siemens Energy's fourth-quarter net loss narrowed along with revenue growth
Siemens Energy said on Wednesday that its losses in the fourth quarter of the fiscal year have narrowed as the revenues of various departments have increased, and it has issued guidance for the 2022 fiscal year.
The German energy company reported a loss of 310 million euros ($359.3 million), compared with a loss of 372 million euros in the same period last year, mainly due to restructuring costs and delayed turnover of Siemens Gamesa Renewable Energy SA's onshore business.
Marks & Spencer Group shifts to 1H pre-tax profit; raises fiscal year guidance
Marks & Spencer Group PLC announced on Wednesday the volatility of pre-tax profits in the first half of the 2022 fiscal year and increased its guidance for the whole year, while warning that labor market and logistics issues will put pressure on costs.
The British retailer added that once the business resumes sustainable profit growth, it plans to resume dividend payments as part of its capital allocation plan for evaluation. No dividends are expected this year.
Alstom 1H sales surge due to strong orders
Alstom said on Wednesday that as orders increased, its sales in the first half of the fiscal year more than doubled.
In the six months to the end of September, sales jumped from 3.52 billion euros last year to 7.44 billion euros (8.63 billion U.S. dollars). On the basis of exam preparation, sales increased by 14%.
Allianz directs 2021 profits to the high end of the range
Allianz SE guided its full-year profit to the high end of the range on Wednesday, as its third-quarter earnings exceeded expectations.
The German insurance company stated that operating profit will now be at the high end of its target range of 12 billion euros (13.91 billion U.S. dollars), with fluctuations of 1 billion euros.
Infineon's fourth quarter profit and revenue soared amid strong demand for chips
Infineon Technologies announced on Wednesday that its profit and revenue for the fourth quarter of the 2021 fiscal year were higher as it continues to benefit from high demand for semiconductors, and said it expects a strong fiscal year 2022.
The German chipmaker said its net profit for the three months ended September 30 rose to 464 million euros ($538 million) from 109 million euros a year ago.
Mediaset announces higher third-quarter net profit and revenue during the advertising rebound
Mediaset NV said on Wednesday that as the growth of Italian advertising revenue exceeded the level before the pandemic, both profit and revenue increased in the third quarter.
The Italian broadcaster said net profit jumped to 47.1 million euros (54.6 million US dollars) from 29.4 million euros a year ago.
German consumer price hikes in October are in line with forecasts
The German Statistics Office Destatis said on Wednesday that German consumer prices rose strongly in October, confirming preliminary data.
Consumer prices measured by national standards rose 4.5% year-on-year, and prices measured by EU uniform standards rose 4.6% year-on-year, both in line with the forecasts of economists surveyed by the Wall Street Journal.
ABN AMRO's third-quarter profit increased year-on-year
ABN AMRO reported on Wednesday that despite the decline in its revenue and operating performance, its profit in the third quarter of this year has improved.
The Dutch bank’s net profit for the quarter ended September 30 was 343 million euros (397.7 million US dollars), which was higher than 301 million euros in the same period last year, but lower than 393 million euros in the second quarter of 2021.
E.ON announces higher third quarter profit and sales
E.ON SE said on Wednesday that net profit and sales rose in the third quarter and supported its forecast for the full year.
The German energy company said its net profit soared to 1.24 billion euros (1.44 billion US dollars) from 700 million euros in the third quarter of last year. Adjusted net income increased from 139 million euros to 424 million euros.
Russia makes Europe speculate that natural gas supplies are tight
As Moscow firmly controls the fuel supply on the European continent, Russia has shown initial signs of increasing its natural gas supply to ease the European energy squeeze.
Russian President Vladimir Putin said last month that Russia, which supplies nearly half of Europe's natural gas imports, will increase delivery to stabilize the market. Before the winter in Europe, prices will be high and reserves will be low.
The number of initial jobless claims may continue to decline
The number of people who applied for unemployment insurance may have fallen again last week, and as the labor market improves, they continue to fall towards the long-term pre-pandemic level.
Economists surveyed by The Wall Street Journal estimate that the Labor Department will report on Wednesday that the number of first-time jobless claims last week fell to 260,000 from 269,000 the previous week.
U.S. inflation rate in October may reach a 30-year high
Due to pandemic-related supply shortages and continued strong consumer demand, the inflation rate in the United States in October may reach a three-year high.
Economists surveyed by the Wall Street Journal estimated that the Consumer Price Index (a measure of how much consumers pay for goods and services) to be published by the Labor Department rose 5.9% in October from the same period last year. This will be the fastest growth rate since 1990 and the fifth consecutive month that the inflation rate has exceeded 5%.
Due to soaring energy prices, China’s factory inflation increased at the fastest rate in October
Hong Kong-Due to rising energy costs, China's October factory prices soared at the fastest rate in 26 years, heightening concerns about the persistence of global inflation and limiting Beijing's ability to stimulate the country's economy.
According to the National Bureau of Statistics, China's producer price index in October rose 13.5% year-on-year, higher than the 10.7% increase in September.
The Biden administration outlines new measures to ease the deadlock in the port supply chain
Washington-The port is struggling due to supply chain issues, including a major problem in Georgia, and will be able to reallocate funds from other federally funded projects to help ease the deadlock in plans developed by the Biden administration.
Government officials said on Tuesday that under the new policy, existing grants can be used more quickly. They also emphasized that after President Biden signed the roughly $1 trillion infrastructure spending plan approved by Congress last week, $17 billion will be spent on ports and waterways.
China issues 4.6 billion euro bonds
Despite the slowdown in economic growth, China raised $4 billion in US dollar bonds at low interest rates, and a few weeks later China began to sell government bonds denominated in euros.
A list of terms published on Wednesday showed that the total sale may be about 4 billion euros, equivalent to 4.6 billion U.S. dollars-the same size as the similar bond transaction in November last year, in which China used the ultra-low interest rate in Europe to sell its first Negative yield bond debt.
Brad says the Fed should ultimately weigh down on its balance sheet
The governor of the Federal Reserve Bank of St. Louis, James Brad, said on Tuesday that he is open to allowing the central bank to reduce its holdings of large amounts of cash and bonds at some point.
Mr. Brad gave a speech on a virtual occasion, and he was commenting on what he wanted to see once the U.S. Central Bank gradually reduced or reduced its holdings.
In the ransomware struggle, the FBI strikes a balance between unlocking the victim’s data and hunting down the attacker
Law enforcement officers have the keys to unlock the computer systems of ransomware victims, and they linger between helping the hacked company and tracking down those responsible.
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