Reza Dilmaghani, primarily an equities trader, has recently turned his attention to the oil market. He’s been making moves over the past week, driven by crude oil's strongest rally in almost two years.
Data centers are increasingly in demand as the rush towards artificial intelligence gains momentum. Companies are investing heavily in these facilities to support the growing need for data processing and storage, driven by AI applications. This trend highlights the critical role data centers play in the tech landscape, as businesses seek to harness the power of AI to enhance operations and innovate services.
Serbia's finance minister is optimistic that other agencies will soon grant the country an investment grade credit rating, following S&P Global Ratings' recent decision. This expectation reflects growing confidence in Serbia's economic stability and prospects. The minister believes that this recognition will boost foreign investment and support the country's financial goals.
India's External Affairs Minister Subrahmanyam Jaishankar will represent the country at a China-led summit in Pakistan, replacing Prime Minister Narendra Modi. This announcement was made by the government late Friday.
Voters in Kazakhstan will head to the polls on Sunday to decide if they want to permit the construction of a nuclear power plant. Concerns have been raised about the environmental impact, alongside worries about relying on China and Russia for the necessary technology.
Vista Outdoor Inc. has announced that it will sell its ammunition and outdoor goods divisions for a combined total of approximately $3.4 billion. This decision follows the company's recent split into two distinct businesses, allowing for focused growth in both sectors. The sales aim to streamline operations and maximize value for shareholders.
Wynn Resorts Ltd. has received the first commercial gaming operator’s license in the United Arab Emirates. This was granted by the country’s General Commercial Gaming Regulatory Authority, marking a significant milestone for the gaming industry in the region.
Haryana is set to hold local elections on Saturday, a crucial test for Prime Minister Narendra Modi's support. Farmers in the state are upset with the government's policies regarding crop prices, and their sentiments could impact the outcome. This election will gauge how much support Modi still has amid growing discontent among the farming community.
On today's "Balance of Power," host Kailey Leinz discusses key economic topics with prominent guests. Jared Bernstein, Chair of the White House Council of Economic Advisers, reviews the latest jobs report and its implications for Americans. Bloomberg's Amara Omeokwe highlights that another significant rate cut from the Fed is unlikely, while Iain Marlow provides insights on global politics. Additionally, Tyler Kendall shares data showing that recent immigration increases have positively influenced the U.S. labor supply. Jennifer Kavanaugh from Defense Priorities also joins the conversation.
According to the September Jobs report, hiring is on the rise, and the unemployment rate has dropped to 4.1%. This is seen as a positive sign for the economy. In a press conference today, President Joe Biden addressed accusations that the job growth numbers are exaggerated. Jared Bernstein, the Chair of the White House Council of Economic Advisers, discussed the report's impact on Americans with Kailey Leinz on "Balance of Power."
