Year: 2023
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(OFFICIAL) US infrastructure building boom revs up extended-stay market
(This Dec. 8 story has been officially corrected by Performance Contractors to change the number of workers it currently employs and the number of current projects in paragraph 16) By Amina Niasse NEW YORK (Reuters) – The Biden administration’s infrastructure spending blitz has put more construction laborers on the road for work this year, fueling…
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US expects to make multi-billion chips awards within the next year
By David Shepardson NASHUA, New Hampshire (Reuters) -U.S. Commerce Secretary Gina Raimondo said she expects to make around a dozen semiconductor chips funding awards within the next year, including multi-billion dollar announcements that could drastically reshape U.S. chip production. She announced the first award on Monday – $35 million to a BAE Systems facility in…
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China’s leaders meet to discuss growth targets for 2024, say sources
BEIJING (Reuters) -China’s leaders started a closed-door meeting on Monday to discuss economic targets and map out stimulus plans for 2024, four sources familiar with the matter said. The annual Central Economic Work Conference, during which President Xi Jinping and other top officials chart the course for the world’s second-largest economy next year, is likely…
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London’s financial district opens US offices amid post-Brexit charm offensive
LONDON (Reuters) -The governing body of London’s financial district is opening offices in New York and Washington, D.C., in a push by British policymakers to forge stronger international financial ties after Brexit. The City of London Corporation, which runs the capital’s so-called “Square Mile,” said its New York outpost opened on Monday, with the Washington…
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Occidental lands $12 billion takeover of shale producer CrownRock
By Sabrina Valle, Sourasis Bose and Arathy Somasekhar HOUSTON (Reuters) -Occidental Petroleum on Monday agreed to buy closely-held U.S. shale oil producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding its presence in the largest U.S. shale oilfield. The deal comes amid a new wave of shale consolidation underpinned by Exxon…
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Oil settles slightly higher, investors still wary
By Laura Sanicola (Reuters) -Oil prices settled up slightly on Monday as OPEC+ production cuts failed to fully offset worries around crude oversupply and softer fuel demand growth next year. Brent crude futures settled up 19 cents, or 0.3%, to $76.03 a barrel while U.S. West Texas Intermediate crude futures settled up 9 cents, or…
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2024 Market Prediction: Gold to $2,500
Over the last several weeks, gold rallied from a low of $1,825 to a high of $2,075. And while it’s showing some signs of weakness, the metal could rally even more in 2024. That’s because we believe the Federal Reserve has finished raising interest rates. Helping, as noted by Reuters, “Gold prices rallied to an…
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French central bank sees fourth quarter growth of 0.1%
PARIS (Reuters) – The French economy will manage to just barely grow in the final quarter of this year, boosted by service sector activity, the French central bank estimated on Monday. The euro zone’s second-biggest economy is on course to eke out 0.1% growth from the third quarter, when it contracted by an unexpected 0.1%,…
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California high-speed rail faces challenges after US award
By David Shepardson (Reuters) – California’s ambitious high-speed rail project that aims to move travelers from San Francisco to the Los Angeles basin in under three hours still faces significant funding challenges despite a $3.1 billion federal award. The White House on Friday announced $8.2 billion in federal funding for rail projects across the country,…
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Stocks gain, Treasury yields jump after US job report
By Chuck Mikolajczak NEW YORK (Reuters) -A gauge of global stocks rose on Friday, on pace for its sixth straight week of gains, while U.S. Treasury yields shot higher after a strong U.S. jobs report forced markets to modify expectations for the timing of rate cuts by the Federal Reserve. U.S. job growth accelerated in…