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MarketWatch
White House defends Biden’s summer trip to Saudi Arabia after OPEC+ supply cut
President Joe Biden’s July trip to Saudi Arabia was “absolutely not” a waste of time, a White House spokesman said Wednesday in response to a question on that issue following news that a key panel has recommended the Organization of the Petroleum Exporting Countries and its allies cut oil production by 2 million barrels a day. “We said at the time, even before he left, that the trip was not about oil. It was about much larger … strategic, national-interest goals,” said John Kirby, a spokesman
Bloomberg
Stock Fail to Keep Gains Before Friday’s Jobs Data: Markets Wrap
(Bloomberg) — Stocks retreated, with traders refraining from making any big moves ahead of Friday’s jobs report as they sift through remarks from a raft of Federal Reserve speakers.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Musk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialSecretive Chip Startup May Help Huawei Circumvent US SanctionsMar-a-Lago Documents Included Pardons, Emails, Legal BillsMass Shooting in Thailand Leaves 3
The Hill
New report finds House offices lack diversity
A new report has found a staggering lack of racial diversity among top staff members in the U.S. House of Representatives. Despite people of color making up 40 percent of the country’s population, only 18 percent of all top House staff are people of color, according to a report by the Joint Center for Political…
Quartz
OPEC’s oil cuts force the US to reconsider its foreign policy
OPEC+ announced it’ll slash output by 2 million barrels per day (bpd) on Wednesday (Oct. 5), the biggest cut since the pandemic started in 2020. The White House’s reaction was swift, calling the decision “shortsighted” and accusing the oil cartel of “aligning with Russia.”
Reuters
Biden to tout IBM’s $20 billion investment in New York over next decade
President Biden on Thursday will tout IBM Corp’s plans to invest $20 billion in New York over the next decade in development and manufacturing of semiconductors, mainframe technology, artifical intelligence and quantum computing. The announcement is the latest in a string of investments unveiled since Biden signed the Chips and Science bill in August that funded $52 billion to subsidize semiconductor chips manufacturing and research. The administration says hefty subsidies for private businesses are necessary because China and the European Union had been awarding billions in incentives to chip companies.
Reuters
Tyson Foods moves corporate jobs to Arkansas in latest blow to Chicago
CHICAGO (Reuters) -Tyson Foods Inc is joining other corporate heavyweights in moving jobs out of Illinois. The biggest U.S. meat company by sales said on Wednesday it will relocate all corporate employees from offices in Chicago and suburban Downers Grove, along with those in Dakota Dunes, South Dakota, to its headquarters in Springdale, Arkansas. It is the latest shakeup for Tyson, which has about 1,000 corporate employees in the Chicago-area and South Dakota offices.
Ukrayinska Pravda
Ukrainian forces take down 15 UAVs and more than 300 occupiers
UKRAINSKA PRAVDA – THURSDAY, 6 OCTOBER 2022, 09:29 Over the past day, 5 October, the Armed Forces of Ukraine took down 15 Russian UAVs, 3 missile systems, 14 tanks, and killed approximately 330 occupiers.
Bloomberg
Ukraine Latest: Nord Stream Hit by ‘Gross Sabotage,’ Sweden Says
(Bloomberg) — The investigation into damage to the Nord Stream 1 and 2 gas pipelines “strengthened the suspicion of gross sabotage,” Sweden’s security service said. “Detonations” in the Swedish economic zone caused the pipelines’ extensive damage, it added. Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Musk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialSecretive Chip Startup May Help Huawei Circumvent US SanctionsMar-a-Lago Docu
Bloomberg
Zinc and Aluminum Rise as LME Bans New Metal From Russian Firm
(Bloomberg) — Zinc and aluminum climbed after the London Metal Exchange said it will restrict new deliveries of the metals from Russia’s Ural Mining & Metallurgical Co. and one of its subsidiaries.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Musk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialSecretive Chip Startup May Help Huawei Circumvent US SanctionsMar-a-Lago Documents Included Pardons, Emails, Legal BillsMass Shooting in T
Bloomberg
Cathie Wood’s Dip-Buying Binge Mainly Focusing on Small Stocks
(Bloomberg) — Cathie Wood’s latest dip-buying binge appears to be largely focused on smaller stocks, cementing her firm’s already hefty shareholdings in such companies.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Musk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialSecretive Chip Startup May Help Huawei Circumvent US SanctionsMar-a-Lago Documents Included Pardons, Emails, Legal BillsMass Shooting in Thailand Leaves 38 Dead, Mostl
Bloomberg
Treasuries Liquidity Problem Exposes Fed to ‘Biggest Nightmare’
(Bloomberg) — The latest bout of global financial volatility has heightened concerns about regulators’ continuing failure to resolve liquidity problems with US Treasuries — the debt that serves as a benchmark for the world.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Musk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialSecretive Chip Startup May Help Huawei Circumvent US SanctionsMar-a-Lago Documents Included Pardons, Emails, Le
ProFootball Talk on NBC Sports
Alvin Kamara expects to play this week
The Saints still don’t have quarterback Jameis Winston or receiver Michael Thomas back to practice, but running back Alvin Kamara got in limited work Wednesday. Kamara said he is feeling good and plans to play Sunday against the Seahawks. “The main thing for me is just being able to help the team any way I [more]
TheStreet.com
OPEC Production Cuts Could Have Major Political Fallout
President Biden has had to deal with a lot in the first two years of his presidency. Between the pandemic, inflation, and a war in Eastern Europe that has no signs of abating anytime soon, the President has had a lot on his plate. Arguably the biggest part of the meal he needs to get his hands on is gas prices, however, and this week he found out that the oil cartel OPEC+ won’t be lending him a helping hand anytime soon.