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Oil falls on demand concerns after Fed signals slower easing ahead

Oil prices fell in early trading on Thursday after the U.S. Federal Reserve signalled that it would slow the pace of interest rate cuts in 2025, potentially impacting fuel demand. The falls reverse much of the gains from Wednesday, when prices settled higher as U.S. crude stocks fell and the U.S. Federal Reserve cut interest rates by an expected 25 basis points as expected. During the December 17-18 policy meeting, central bankers projected they would make just two quarter-percentage-point rate reductions in the coming year due to stubbornly high inflation, half a point less than they had anticipated as of September.

Reuters 1 hour ago

Chevron, Woodside in Western Australia LNG asset swap deal

(Reuters) -Woodside and Chevron said on Thursday they would streamline oil and gas operations in Western Australia through a stake swap deal, a move resulting in the Australian energy giant exiting the $34 billion Wheatstone LNG project. Under the asset swap deal, Chevron would sell its interest in North West Shelf venture and take over all of Woodside's interest in Wheatstone and an affiliate gas project.

Micron Drops After Sluggish PC, Phone Demand Hurts Forecast

(Bloomberg) -- Micron Technology Inc., the largest US maker of computer-memory chips, tumbled in late trading after its revenue forecast missed projections by about $1 billion, hurt by sluggish demand for smartphones and personal computers.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousSales will be roughly $7.9 billion in the fiscal second quarter, which runs through February, the company said in a statement Wednesday. That compares with an average analys

AI Startup Perplexity Closes Funding Round at $9 Billion Value

(Bloomberg) -- Perplexity AI Inc., an artificial intelligence startup building a search product to compete with Alphabet Inc.’s Google, has closed a $500 million round of funding that triples the company’s valuation to $9 billion, according to a person familiar with the matter. The round was led by Institutional Venture Partners and completed earlier this month, according to the person, who asked not to be identified discussing private information. Perplexity declined to comment. Even by the lof

Salesforce CEO Marc Benioff on a $1 trillion opportunity and optimism for Trump 2.0

Salesforce is wasting no time going all in on digital agents as tech leaders warm up to incoming President Donald Trump.

Salesforce’s Benioff Says ‘No Deal’ to Sell Time Magazine

(Bloomberg) -- Salesforce Inc. Chief Executive Officer Marc Benioff said there is “no deal on the table” to sell Time, the publication he has owned since 2018.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More Dangerous“It’s extremely important that we do have fair and balanced journalism, and that’s why I’m very proud to be an owner of Time,” Benioff said in an interview with Bloomberg Television.CNBC reported in November that Benioff was in early talks with Antenna G

Stellantis moves up launch of hybrid Ramcharger as EV demand cools

The automaker said the Ram 1500 Ramcharger will be open for consumer orders in the first half of next year, while the Ram 1500 battery-electric light duty pickup truck will launch in 2026. The electric version was originally slated to launch in the first half of 2025. The Franco-Italian automaker cited "overwhelming" customer interest as another factor in advancing the launch of the hybrid version.

Amazon Delays RTO Mandate for Thousands of Workers Due to Space

(Bloomberg) -- Amazon.com Inc. won’t have enough space for thousands of employees when they start returning to the office five days a week next month. Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe company recently told some personnel working in at least seven cities — including Austin, Dallas and Phoenix — that their return dates will be pushed back as much as four months, according to people familiar with the situation.The delay is the latest twist i

Brooge Energy investors file fraud complaint against Ernst & Young

(Reuters) -Some shareholders in Brooge Energy have filed a fraud complaint in the United States against Ernst & Young, alleging the auditor failed to identify fabricated revenues in two years of the oil storage firm's annual reports. The plaintiffs are Stephen Cannon, Bryant Edwards and Neil Richardson, who were investors in a so-called special purpose acquisition company (SPAC) that bought Brooge in 2019, according to the filing with the United States District Court in the Southern District of New York.

Alphabet Ends 2024 on High With Help From Quantum Tech Leap

(Bloomberg) -- Alphabet Inc. is ending 2024 on a high, with a quantum computing breakthrough spurring a stock rally late in the year despite having no near-term commercial potential.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousShares in the Google parent have jumped more than 30% from a September low, with a chunk of those gains coming after news about the capabilities of its quantum computer, which runs on its Willow chip. Quantum computing has provided