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Occidental Petroleum (OXY -0.31%), the oil and gas giant more commonly known as Oxy, set a 52-week high of $67.45 per share on March 31. That year-to-date gain of nearly 60% was mainly fueled by the Middle East conflict’s impact on global oil prices. But after hitting a four-year high of $112.25 per barrel in…
The US economy regained its footing in August, adding 162,000 jobs and holding unemployment steady at 4.1%. That’s more than double Wall Street forecasts and enough to send Treasury yields surging on fresh expectations of a Federal Reserve rate increase at its September 15-16 policy meeting. The Bureau of Labor Statistics reported Friday…
Academy Mortgage agreed to a consent order with California regulators that penalizes the lender and finds fault with its information technology procedures and oversight, which allegedly contributed to a 2023 data breach. Processing Content In resolving the case, Academy Mortgage, which has ceased all origination and servicing activity, agreed to pay $825,000 to the state’s…
Alex Karp’s crusade against frontier AI labs continues. During Palantir’s second-quarter earnings call on Monday, the CEO and cofounder reiterated his view that leading AI labs could absorb enterprises’ data, intellectual property, and expertise into their models and ultimately use that to compete with their customers. “They deserve to colonize your enterprise,” Karp said, characterizing…
Trump renews effort to fire Fed’s Cook, continuing attacks on central bank
U.S. construction market data tells two stories. New construction starts fell 20% month over month in June, on the heels of a 33.5% gain in May. The surge was attributed to large projects within healthcare, manufacturing, utilities and data centers, according to a recent Cushman & Wakefield report. At the same time, “construction activity remains…