Commodities Roared Into New Quarter. Now Comes the Hard Bit

(Bloomberg) — Commodities have opened the fourth quarter in some style, with prices set for the best weekly showing since March after OPEC+ agreed to chop oil supply. With crude surging on Friday, the coming week will bring a host of signals on the outlook over the rest of the year and into 2023 before … Read more

RBC downgrades Lyft, says it may be falling behind Uber

Lyft may be falling behind competitor Uber, according to RBC Capital Markets. Analyst Brad Erickson downgraded shares of Lyft to sector perform from outperform, and slashed his price target, saying the ride hailing company appears to be struggling to gain an edge. “Our US driver supply analysis makes our prior bullish thesis look increasingly less … Read more

We’re Witnessing the Hollowing Out of the Tory Party

(Bloomberg Opinion) — UK Prime Minister Liz Truss made “disruption” the theme of her conference speech on Wednesday. The first thing that needs to be disrupted is the party that made her leader. Britain’s Conservative Party is the most successful political party in the history of Western democracy. It won the most votes in 17 … Read more

Cannabis company Canopy applauds Biden marijuana pardons, stock surges

Canopy Growth applauded President Joe Biden’s announcement Thursday that he will pardon thousands of people convicted of marijuana possession. “Today represents action from the Administration that we have been waiting for – an acknowledgment that cannabis prohibition has failed and that too many lives have been significantly impacted as a result,” David Culver, vice president … Read more

Fed Headed for 4.5%-4.75% Interest Rate by Early 2023, Evans Says

“We have to look at the momentum in sort of that central component of inflation, and that’s really the part that I believe has most of my colleagues and myself nervous,” Evans said Thursday at a meeting of the Illinois Chamber of Commerce. “We look to me, according to our reports, headed for 4.5% to … Read more

Credit Suisse Eyes Outside Money for Investment Bank Spinoff

Until 2020, Credit Suisse ran its investment banking and capital markets unit as its own division, which may make it easier to separate and gives some indication of its potential. In June 2020, that unit had 3,260 employees and about 22 billion Swiss francs ($22 billion) of risk-weighted assets, indicating it utilized about $3 billion … Read more

The ‘data divide’ is a new form of injustice. Ending it could help us meet humanity’s greatest challenges

Just as the digital divide kept millions of people from accessing the advantages of the Internet a generation ago, there is a new “data divide” separating the haves from the have-nots. The “haves” include people, companies, and organizations who have plenty of fresh data and have the technology and skills to use it to grow … Read more

Pinterest can surge 25% as user engagement and monetization improve, Goldman Sachs says in upgrade

Shares of Pinterest can jump 25% from here as the social media company improves user growth and monetization on its platform, according to Goldman Sachs. Analyst Eric Sheridan upgraded shares of Pinterest to buy from neutral, saying he came away from a recent meeting with senior Pinterest management with increased confidence. Sheridan also hiked his … Read more

Weaker refining, gas trading to hit Shell’s third-quarter results

Shell expects a weaker third quarter due to slower demand. Ina Fassbender | AFP | Getty Images Shell said on Thursday its third-quarter profits would be pressured by a sharp drop in refining margins and“significantly” weaker earnings from natural gas trading. The British energy giant reported two consecutive quarters of record profits in the first … Read more

Secretive Chip Startup May Help Huawei Circumvent US Sanctions

“Although Huawei does not own any manufacturing facilities for now, it is going to be one of the most important companies in driving China’s semi industry due to its products in end-markets such as networking, artificial intelligence computation, cloud, smartphones, IoT and auto,” Tammy Qiu, an analyst at Berenberg, wrote in the report in September.