Russian Steel Bucks Global Downturn as War Economy Drives Demand

(Bloomberg) -- Weak Chinese demand is depressing the global steel market, but Vladimir Putin’s war economy has made Russia a striking exception.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunThe Kremlin’s invasion of Ukraine has stimulated the Russian economy, driving up residential construction and spurring infrastructure spending. That’s buoying the country’s steel industry, while markets in Eur

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Red Sea Oil Disaster Risk as US Says Houthi-Hit Tanker Leaks

(Bloomberg) -- An abandoned oil tanker attacked in the Red Sea by Iran-backed Houthi rebels a week ago appears to be burning and leaking, raising the specter of environmental disaster, a Pentagon spokesman said on Tuesday.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunThe comments are the latest to underscore what the European Union’s navy in the region described as an imminent environmental hazar

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Fed Embraces Gradualism, a Familiar Policy for Uncertain Times

(Bloomberg) -- With a September interest-rate cut all but certain and attention turning to the pace of future reductions, Federal Reserve officials are coalescing around a gradual approach to the last mile of their inflation fight.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunA handful of policymakers at the Fed’s annual research symposium in Jackson Hole, Wyoming, last week made the case for low

Oil Slips as Technical Hurdle, US Stockpiles Data Weighed

(Bloomberg) -- Oil slipped again after dropping by more than 2% on Tuesday, with futures unable to climb above a key technical measure even as Middle East tensions remain in focus, with key US inventories data due coming.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunBrent traded below $79 a barrel, with West Texas Intermediate under $75. Traders’ attention was turning to weekly figures on stockpi

US clean energy jobs growth rate double that of overall jobs, report says

Jobs in the U.S. clean energy industry in 2023 grew at more than double the rate of the country's overall jobs, and unionization in clean energy surpassed for the first time the rate in the wider energy industry, the Energy Department said on Wednesday. Employment in clean energy businesses - including wind, solar, nuclear and battery storage - rose by 142,000 jobs, or 4.2% last year, up from a rise of 3.9% in 2022, the U.S. Energy and Employment Report said. Unionization rates in clean energy hit 12.4%, more than the 11% in the overall energy business, it said.

Clean energy drives job growth in US energy sector

The clean energy sector added 142,000 jobs last year, accounting for more than half of all new energy sector employment, according to data from the Department of Energy.