BUSINESS

Chip Stocks Fall As Micron Outlook Signals Easing Demand

Micron Technology's solid-state drive for data center customers is presented at a product launch event in San Francisco, U.S., October 24, 2019.
A handful of chipmakers including Micron and AMD have signaled waning demand as red-hot inflation squeezes consumer and corporate spending, while easing a two-year global semiconductor shortage that was exacerbated by supply-chain disruptions.
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Sunset is reflected in the Salton Sea as seen from Bombay Beach, California, U.S., March 15, 2022. Picture taken March 15, 2022.

California Approves Lithium Tax Despite Industry's Warnings

California on Thursday approved a plan to tax the electric vehicle battery metal lithium to generate revenue for environmental remediation projects despite industry concerns that it will harm the sector and delay shipments to automakers.
A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying Russian Trading System (RTS) Index, Japan's Nikkei index and the Dow Jones Industrial Average outside a brokerage in Tokyo, Japan,

Second Half Starts With Fresh Swings For Stocks

The second half of the year started with more volatility for global stocks on Friday, as recession concerns that have built in recent weeks also pulled metals and commodity currencies lower again.
A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying Russian Trading System (RTS) Index, Japan's Nikkei index and the Dow Jones Industrial Average outside a brokerage in Tokyo, Japan,

Stocks Slide, Dollar Rises As Growth Fears Mount

Stocks fell and the dollar rose on Friday, beginning the second half of the year much as the first one had ended, only this time with bonds rallying for a change as investors have shifted from worrying about inflation to fearing a global recession.
A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. Picture taken November 22, 2019.

Oil Prices Up 2% On Supply Outages

Oil prices rose about 2% on Friday, recouping most of the previous session's declines, as supply outages in Libya and expected shutdowns in Norway outweighed expectations that an economic slowdown could dent demand.
A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. Picture taken November 22, 2019.

Oil Prices Rise After Falling 3% In Previous Session

Oil prices edged up in early trade on Friday, after sinking in the previous session as OPEC+ said it would stick to its planned oil output hikes in August and investors worried about the strength of the global economy.

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