Mon, Feb 19, 2024 5:52 PM
World shares singed by stubborn inflation and slow China growth
A Flip by Avya Verma
Australia’s consumer sentiment rose in November while business confidence jumped to the highest level since early 2023, reflecting ebbing inflation pressures that suggest the next move in interest rates will be a reduction. A National Australia Bank Ltd. survey showed Tuesday that business confidence climbed 7 points in October after hovering around 0 for an extended period.
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Coinbase shares surged 20% to a three-year high Monday as investors bet that higher trading volumes and a more favorable regulatory environment under the incoming Trump Administration could benefit the crypto exchange. The stock broke out above the top trendline of a seven-month descending channel last week on above-average volume, with follow-through buying continuing into this week.
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The Biden administration has finalized a methane fee for large oil and gas producers, aiming to reduce emissions of the potent greenhouse gas, but the rule may be scrapped by the incoming Trump presidency. The fee starts at $900/metric ton in 2024, increasing to $1,500/ton by 2026, applying to facilities emitting over 25,000 tons/year of CO2 equivalent.
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