Marathon Oil shareholders on Thursday approved the U.S. oil producer's nearly $16 billion acquisition by ConocoPhillips, the company said. Marathon Oil and ConocoPhillips expect the purchase, which is undergoing a Federal Trade Commission review, to close late in the fourth quarter of 2024. Details of the vote were not immediately available.
The second estimate of US GDP growth in Q2 saw an upward revision from 2.8% to 3%. However, US resilience has come under pressure, particularly in the labour market of late
The U.S. economy grew faster than initially thought in the second quarter amid strong consumer spending, while corporate profits rebounded, which should help to sustain the expansion. The economy grew at a 1.4% pace in the first quarter. Economists polled by Reuters had forecast GDP would be unrevised at a 2.8% pace.
(Bloomberg) -- The US economy grew at a slightly stronger pace in the second quarter than initially reported, reflecting an upward revision to consumer spending that more than offset weaker activity in other categories.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessDense Cities With Low Emissions Suffer Most From Air Pollution, Study FindsAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowA
The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment. The Commerce Department had previously estimated that the nation’s gross domestic product — the total output of goods and services — expanded at a 2.8% rate from April through June. The second-quarter growth marked a sharp acceleration from a sluggish 1.4% growth rate in the first three months of 2024.
(Bloomberg) -- Oil rigs in the Permian and Bakken basins of the US are producing at the most efficient rates in about 13 years, leading Macquarie Group analysts to predict the country’s crude production will top most consensus views.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowDense Cities With Low Emissions Suffer Most From Air Pollution
Recession indicators are flashing red, but economists argue they could be false signals this economic cycle, revealing a broader truth about the recession predicting business itself.
BERLIN (Reuters) -Inflation fell in six important German states in August due to lower energy prices, preliminary data showed on Thursday, suggesting Germany's national inflation rate could decline noticeably this month. In Saxony, the inflation rate fell in August to 2.6% from 3.1% in the previous month, in Brandenburg it fell to 1.7% from 2.6%, in Baden-Wuerttemberg it fell to 1.5% from 2.1%, in Hesse it fell to 1.5% from 1.8% and in Bavaria it fell to 2.1% in August from 2.5% in July. The inflation rate in North Rhine-Westphalia, Germany's most populous state, fell to 1.7% in August from 2.3% in July.
