BP profits jump as oil prices stay high in Q2
BP reported net income of 9.26 billion dollars for the April to June quarter, nearly tripling from 3.12 billion a year earlier, amid elevated crude and gas prices. The company foresees continued高 prices, plans 3.5 billion share buyback, dividend growth, and more renewable investments while facing UK windfall taxes and regulatory pressure.
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Stocks Fall as Yields Rise on Wall Street Pause
US stocks declined with the S&P 500 down 0.7 percent to 4091.19 and the Dow off 1.2 percent to 32396.17 led by Caterpillar as Treasury yields climbed amid signals of more Fed rate hikes. Inflation worries persist alongside data showing slower job openings in June and questions about the economy's resilience.
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Job openings slide to 10.7 million in June
Washington employers posted fewer job openings in June amid inflation and higher rates. The Labor Department’s Job Openings and Labor Turnover Survey shows openings falling from 11.3 million in May to 10.7 million in June, with quits at 4.2 million and layoffs at 1.3 million. The economy remains resilient, but demand for labor stays high and hiring challenges persist.
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Taiwan Defense Bill Advances Amid Pelosi Taiwan Visit
Senators weigh the Taiwan Policy Act to bolster Taiwan's defense with about 4.5 billion in security aid over four years and grant major non NATO ally status. Pelosi's unannounced Taiwan trip drew crowds outside Grand Hyatt Taipei as China LoC overflights heighten regional tensions. The White House vows no crisis while boosting Indo Pacific military movements and U.S. reassurance to allies.
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