The International Energy Agency is proposing its largest-ever release of 400 million barrels of oil to combat soaring crude prices. This significant move aims to stabilize the market, exceeding the 182 million barrels released in 2022. The recommendation precedes a G7 leaders’ meeting chaired by France.Read More
Campbell’s has lowered its yearly sales and profit outlook. The company is also pausing share buybacks. This move prioritizes debt reduction. Weak consumer demand and rising costs are impacting sales. New tariffs are expected to increase expenses further. Campbell’s aims to boost snack sales through promotions.Read More
U.S. consumer prices rose 0.3% in February, driven by higher gasoline costs amid escalating Middle East conflict and rising oil prices. Economists anticipate further inflation increases in March. Core CPI, excluding food and energy, saw a 0.2% gain, influenced by declining used vehicle prices and slower rent increases.Read More
Oracle shares surged after a strong revenue forecast eased AI infrastructure spending concerns. The company is rapidly expanding its data centers for AI, funded by significant debt. While investor concerns about financing and execution persist, new AI contracts and Larry Ellison’s comments on AI tools provided some reassurance.Read More
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