Copper and Aluminum Prices Reach Annual Highs on Tight Supply, Higher Demand
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Copper futures hit record high as data center build-up, EV growth fuels demand
Copper futures on the NYMEX hit a record $XXX per pound, according to data from FactSet. The metal has gained more than 25% so far this year.CNBC - Business -
AI boom to keep supply of high-end memory chips tight this year, analysts warn
SK Hynix and Micron – the world's largest memory chip suppliers – are out of high-bandwidth memory chips for 2024, while the stock for 2025 is also almost sold out.CNBC - Business -
U.S. honey bee population reaches record high
In 2006, bees across the U.S. started dying rapidly. Now, the U.S. honey bee population is at an all-time high, according to the Census of Agriculture. Clay Bolt, manager of pollinator conservation for the World Wildlife Fund U.S., joins CBS News ...CBS News - Top stories -
Why the World Has Gone Cuckoo for Copper
The U.S. and China are competing to acquire the metal, which is essential for EVs and data centers. It is also at the center of a $43 billion takeover battle.The Wall Street Journal - Business -
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Google goes all in on AI at annual developer conference
Google's highly-anticipated, annual developer conference began Tuesday. The event focused mainly on the company's artificial intelligence advancements. Lisa Eadicicco, senior mobile editor for CNET, joins CBS News with highlights.CBS News - Top stories - Google -
OPEC Sticks to Oil-Demand View
OPEC left its estimates for global oil-demand growth unchanged for this year and next, while reporting a fall in crude output as the market awaits the cartel’s next production policy move at its upcoming meeting in June.The Wall Street Journal - World -
Save Higher Ed With the Chicago Principles
Respect free speech and don’t take sides—a simple approach to avoid campus strife.The Wall Street Journal - World -
'Corrupt ship inspectors demand our food and cargo'
Seafarers tell the BBC port officials routinely demand bribes before allowing ships through.BBC News - Top stories -
Burberry Profit Falls as Soft Demand, Turnaround Bite
Burberry posted a decline in profit for fiscal 2024 as it kept struggling to revitalize its business through a turnaround plan against a backdrop of slowing luxury demand.The Wall Street Journal - World -
IEA lowers 2024 oil-demand forecast
The International Energy Agency cut its forecast for oil-demand growth this year as subdued industrial activity and mild winter temperatures reduced gasoil consumption across some of the world’s largest economies, particularly in Europe.MarketWatch - Business -
Senators Propose $32 Billion in Annual A.I. Spending but Defer Regulation
Their plan is the culmination of a yearlong listening tour on the dangers of the new technology.The New York Times - Tech -
Singapore Airlines Posts Record Annual Profit on North Asia Rebound
Singapore’s flag carrier attributed the increase in profit to air travel demand boosted by a rebound in North Asia, with China, Hong Kong, Japan and Taiwan fully reopening their borders.The Wall Street Journal - World -
Senators Propose $32 Billion in Annual A.I. Spending but Defer Regulation
Their plan is the culmination of a yearlong listening tour on the dangers of the new technology.The New York Times - Top stories -
Fantasy Football History: Why you shouldn't expect another Sam LaPorta season from Brock Bowers, 2024 class of tight ends
Fantasy football analyst Scott Pianowski debuts a series investigating historical rookie trends at each position. First up, the tight ends!Yahoo Sports - Sports - Fantasy Football -
China drives EV boom this year amid strong demand for hybrid vehicles
EV shipments, including fully battery-powered vehicles and hybrids, were up 18% in the first three months of 2024 compared with the same period last year.CNBC - Business - China -
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A second wave of EV shoppers is on its way, but current demand is still a problem
Cox Automotive sees a “second, significant wave” of EV shoppers by the second half of the decade, but that’s cold comfort for now.MarketWatch - Business -
Top House Democrat demands answers on Trump dinner with oil executives – live
Jamie Raskin writes to nine executives after report says Trump promised to repeal regulations if they each gave $1bn to campaign. Trump hush-money trial – live updatesUS House in session with major agenda but its speaker is awol at Trump trialThe ...The Guardian - World - Donald Trump -
IEA Lowers 2024 Oil-Demand Growth Forecast on Slow Start of the Year
The International Energy Agency cut its forecast for oil-demand growth this year as subdued industrial activity and mild winter temperatures reduced gasoil consumption across some of the world’s largest economies, particularly in Europe.The Wall Street Journal - World -
Burberry’s profits plunge as sales slump on slowing luxury demand
Burberry on Wednesday said the slowdown in the luxury goods market hit its sales in the final quarter of 2024 and led to a sharp 34% drop in its full-year profits.MarketWatch - Business -
Gina Rinehart demands National Gallery of Australia remove her portrait
NGA rebuffs efforts by billionaire to take down painting by award-winning artist Vincent Namatjira. Get our morning and afternoon news emails, free app or daily news podcastThe mining billionaire Gina Rinehart has demanded the National Gallery of ...The Guardian - World - Australia -
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Investors shun real estate as higher for longer fears bite
Global fund managers cut their property allocations to lows not seen since 2009Financial Times - Business -
Biden Hits Chinese Electric Vehicles, Chips and Other Goods With Higher Tariffs
The president announced increased taxes on Chinese imports in strategic industries, building on former President Donald J. Trump’s tariffs.The New York Times - Business - Joe Biden -
Import Groups Decry Higher U.S. Tariffs on China-Made Goods
Retailers and apparel sellers say the increases in their costs will ultimately reach consumers.The Wall Street Journal - World -
Biden Administration announces higher tariffs on Chinese EVs, other products
President Biden announced higher tariffs on $18 billion worth of products from China. Tariffs on Chinese electric vehicles will be raised from 25 percent to 100 percent, and tariffs will be raised on Chinese steel and aluminum, lithium-ion ...NBC News - Politics - Joe Biden -
Sony reports 7% drop in annual profit as PlayStation 5 sales miss trimmed target
Sony on Tuesday reported a 7% drop in annual profits in the fiscal year 2023, logging its first drop in annual profits since 2020.CNBC - Business -
How fast are prices rising in the UK?
The rate at which prices are rising has dropped from record highs, but remains above the 2% target.BBC News - Top stories -
Oil ends at 9-week low after OPEC leaves demand forecast unchanged
Oil futures settled at a nine-week low on Tuesday, as the Organization of the Petroleum Exporting Countries left its monthly forecasts largely unchanged while traders weighed the outlook for interest rates and their potential impact on energy demand.MarketWatch - Business -
Mortgage demand from homebuyers drops even as interest rates pull back to April lows
Total mortgage application volume increased just 0.5% from one week earlier, according to the Mortgage Bankers Association's seasonally adjusted index.CNBC - Business - Mortgage -
Harvard Reaches Agreement With Protesters to End Encampment
The statements from the two sides reveal some differences in nuance over what the agreement calls for.The New York Times - Top stories -
Harvard reaches deal to end pro-Palestinian encampment
The pro-Palestinian encampment at Harvard announced Tuesday it would be ending after reaching an agreement with the nation's oldest university. Harvard Out of Occupied Palestine (HOOP) said in a post on X the school had agreed to reinstate ...The Hill - Politics -
Harvard Reaches Deal With Student Protesters to End Encampment
President Alan Garber said the university would begin reinstatement proceedings for students “placed on involuntary leaves of absence” and evaluate the disciplinary cases of those who participated in the encampment.The Wall Street Journal - World -
Aston Villa reach Champions League for first time
Aston Villa qualify for the Champions League for the first time after top-four rivals Tottenham Hotspur lost to Manchester City on Tuesday.BBC News - Top stories - UEFA Champions League -
Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady
Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period.NBC News - Top stories - Federal Reserve -
Fed Chair Powell says inflation has been higher than thought, expects rates to hold steady
Speaking to the Foreign Bankers' Association, the central bank leader noted that the rapid disinflation that happened in 2023 has slowed considerably this year.CNBC - Business - Federal Reserve -
European Development Bank Flags Higher Risk Premium as Lingering Cost of Russia's War
The economies of central Europe are set for stronger growth this year and next as inflation cools, but Russia’s invasion of Ukraine will continue to cast a shadow over their prospects in the form of higher borrowing costs, the European Bank for ...The Wall Street Journal - World - Europe