Bloomberg News and Videos — Page 105

Paul Sankey, president of Sankey Research, explains the level of tightness in the crude oil refining system, the "massive" margins between the price of barrels of oil and refined products like gasoline and jet fuel, and why he expects the US strategic petroleum reserve to run out around September.

Angelo Zino, CFRA Vice President of Technology, joins Vonnie Quinn on "Bloomberg Brief" to discuss Meta earnings after Mark Zuckerberg defended the firm's significant AI investments despite disappointing revenue forecasts.

The US hit dozens of military targets in a fresh wave of strikes on Iran in response to an attack on American forces in Jordan. Iran targeted a building in northern Kuwait while Jordan said it intercepted five missiles from the Islamic Republic as the conflict escalates and spreads across the Middle East. Tyler Kendall reports on Bloomberg Television.

The Bank of England's Monetary Policy Committee voted six-three in favor of keeping interest rates on hold at 3.75%. UK officials sought to balance the threat from US-Iran tensions against signs that domestic price pressures are easing more quickly than expected. Bloomberg's Lizzy Burden reports.

PGIM Credit Global Economics Deputy Head Katharine Neiss discusses the Federal Reserve's decision to leave interest rates unchanged on Wednesday, saying Chairman Kevin Warsh delivered a "weaker press conference than expected." Speaking on Bloomberg Television, Neiss adds that the central bank's "Hawkish tilt" will come in September, with three sequential rate hikes.

Lloyds Banking Group Chief Executive Officer Charlie Nunn speaks on Bloomberg Television after the lender's second-quarter earnings beat estimates and the bank unveiled a blueprint to help boost non-banking revenues by 2030. "We've got some exciting growth to do," Nunn says.

Anna Edwards, Guy Johnson and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."

Anglo American Chief Executive Officer Duncan Wanblad discusses the company's performance after it posted a jump in profit and raised its dividend. Speaking on Bloomberg Television, he says the strength in Anglo American's performance has been "bolstered by higher copper price."

Microsoft shares surged in late trading after better-than-expected 4Q earnings, helped by continued strength in cloud computing and artificial intelligence. But Meta shares fell after a disappointing revenue forecast for the current quarter. It also reported the lowest free cash flow in years, a sign of ballooning AI spending. Josh Gilbert, APAC & Middle East Lead Analyst at etoro spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa on some of the mag7 reporting.

Shell Chief Executive Officer Wael Sawan says the company is "built to be able to handle volatility." He adds that Shell also had record utilization in its refining business. "We haven't seen that in over a decade," Sawan tells Bloomberg Television as the company said adjusted net income rose to $9.8 billion.