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Oil Little Changed in Thin Trading Ahead of Key OPEC+ Meeting

(Bloomberg) -- Oil was little changed as trading thinned before the US Thanksgiving holiday, with the focus on this weekend’s OPEC+ meeting. Most Read from BloombergIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldWest Texas Intermediate was below $69 a barrel after trading in its tightest range

Bloomberg 34 minutes ago

Citadel, Pimco Set to Own Stakes in Spirit Airlines Post-Bankruptcy

(Bloomberg) -- Ken Griffin’s Citadel Advisors, Pacific Investment Management Co. and Western Asset Management Co. are among the investment firms poised to own equity in Spirit Airlines Inc. after the budget carrier restructures its balance sheet in bankruptcy.Most Read from BloombergIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Kansas City, a First-Ever Stadium Designe

Trump Tariff Threat Marks ‘Chilling Signal’ for Mexico Economy

(Bloomberg) -- Even as Mexico President Claudia Sheinbaum attempts to quell concerns over Donald Trump’s threat of 25% tariffs, economists are looking glumly at the trouble ahead should the US president-elect actually follow through.Most Read from BloombergIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes

Trump's proposed tariffs on Canada would drive up pump prices, analysts warn

U.S. President-elect Donald Trump's pledge to impose tariffs on Canada would drive up fuel prices for Americans as it would upend decades-old oil trade from its top crude supplier, analysts said on Wednesday. Trump, who takes office on Jan. 20, said this week he would impose a 25% tariff on all imports from Canada and Mexico until they clamp down on drugs and migrants crossing the border. Canadian oil imports would not be exempt under a free-trade deal from the levies, Reuters reported.

Yen Strengthens on Dollar as US Bond Yields Fall: Markets Wrap

(Bloomberg) -- A stronger yen weakened Japanese equity futures Thursday after a rally in Treasuries weighed on yields and the dollar. US stocks fell ahead of the Thanksgiving holiday.Most Read from BloombergIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldContracts for Japanese shares fell 0.8%,

Under tariff threat, US wholesaler warns: 'People will pay'

While most of Los Angeles sleeps, 58-year-old Melquiades Flores starts his day at 1 a.m., supervising the unloading of produce at M&M Tomatoes and Chile Company, the wholesaler he started in 2019. But the business that Flores hopes to pass to his children one day is bracing for a disruption. U.S. President-elect Donald Trump has pledged to impose a 25% tariff on all imports from Mexico and Canada when he takes office on Jan. 20, plus an additional 10% tariff on Chinese goods.

T-Mobile says cyber attackers had no access to customer data

T-Mobile Chief Security Officer Jeff Simon said in a blog on the company's website Wednesday that the company detected attacks from an unnamed "wireline provider's network that was connected to ours." T-Mobile's defenses protected customer information, prevented disruption of services and stopped the attack from advancing, he said. Simon added that it was not clear who the hackers were, but the company reported its findings to the U.S. government for assessment.

Uber Faces FTC Consumer Protection Probe Over Subscriptions

(Bloomberg) -- The US Federal Trade Commission is looking into whether Uber Technologies Inc. violated consumer protection laws with its flagship subscription service. Most Read from BloombergIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldThe FTC is investigating Uber over enrollment and cancel

Australian Senate begins debate on world-first social media ban for children under 16

The Australian Senate on Thursday began considering a ban on children younger than 16 years old from social media after the House of Representatives overwhelmingly supported the age restriction. The world-first bill that would make platforms including TikTok, Facebook, Snapchat, Reddit, X and Instagram liable for fines of up to 50 million Australian dollars ($33 million) for systemic failures to prevent young children from holding accounts is likely to be passed by the Senate on Thursday, the Parliament’s final session for the year and potentially the last before elections, which are due within months. Unaligned Sen. Jacqui Lambie complained about the limited amount of time the government gave the Senate to debate the age restriction, which she described as “undercooked.”

Trump's policies may pose medium-term risk to inflation, New Zealand central bank official says

A top New Zealand central banker said on Thursday that U.S. President-elect Donald Trump's economic policies could pose a medium-term risk to inflation though the bank had not conducted any formal modelling on potential impacts. Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway said Trump's policy agenda could result in higher prices and so there could be "more inflation volatility going forward".

EX-NFL player, business partners indicted on PPP fraud charges

A former NFL player and his business partner, who were co-owners of a construction business and trucking company, and their bookkeeper face fraud charges after prosecutors claim they engaged in a scheme to obtain $1.4 million through the Paycheck Protection Program. The post EX-NFL player, business partners indicted on PPP fraud charges appeared first on FreightWaves.