Page 32 - Rian Evans News Today

The pound-dollar rate could fall to a record low of about $1.05 next year, Capital Economics warned, down from $1.15 on Thursday.

The US Public Company Accounting Oversight Board Review requested to review materials from the most recent financial year, Bloomberg said.

Gazprom reported $41.75 billion, or 2.5 trillion rubles, in profits, up from about 968 billion rubles in the first half of 2021.

Imports of Malaysian oil have soared to nearly 800,000 barrels per day, which is more than what it produces on its own, according to Bloomberg.

Fuel oil being offered matched Russian characteristics, such as sulfur content, but was labeled differently, a trader in Switzerland told the Journal.

Russian crude flows to Asia continue to slide. Bloomberg data shows that Russian seaborne oil exports to Asia hit their lowest level since March last week.

While the latest inflation report for July was encouraging, the Fed won't pivot, according to former Kansas City Fed president Thomas Hoeing.

Stocks pared some losses but ended lower on the day as investors deal with concerns that the Fed will continue to aggressively raise rates next month.

US stocks slid Monday as investors continue to sell risk assets after Federal Reserve chair Jerome Powell reiterated a hawkish policy stance.

"More market uncertainty has boosted prices, which is exactly what Saudi Arabia is looking to do," said Morningstar analyst Stephen Ellis.