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☆ Ukraine Welcomes Pledges of More Military Aid With Cautious Optimism
▼ + stars: | 2024-06-14 | by ( Constant Méheut | ) www.nytimes.com time to read: +1 min

Ukraine has in recent weeks faced the full force of Russia’s multifaceted attacks, with Moscow sending waves of troops to break through Ukrainian lines in the east and barrages of missiles to knock out the country’s energy system. So it was with a sigh of relief that the embattled nation welcomed a series of pledges of military and financial aid made by Western allies this week, including a 10-year security agreement with the United States and a $50 billion loan issued by Washington and the European Union. President Volodymyr Zelensky of Ukraine said that the promises, announced during a flurry of diplomatic meetings at the Group of 7 summit in Italy on Thursday, meant that his country would receive more air defense systems to protect its battered cities. “Patriots is practically a Ukrainian word now,” he said, referring to the advanced — and scarce — American-made missile batteries that Ukraine has long asked for. Washington agreed last week to send an additional battery, adding to the at least three systems that Ukraine already has.

Persons: Volodymyr Zelensky, ” Organizations: European Union, Group, “ Patriots, Washington Locations: Ukraine, Moscow, United States, Washington, Italy, “

☆ Cramer's Lightning Round: 'Let's stay away' from Unity Software
▼ + stars: | 2024-06-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Vistra's year-to-date stock performance. "Stock Chart Icon Stock chart icon Novavax's year-to-date stock performance. Stock Chart Icon Stock chart icon Twilio's year-to-date stock performance. Stock Chart Icon Stock chart icon H.B. Stock Chart Icon Stock chart icon Unity Software's year-to-date stock performance.

Persons: it's, Fuller, It's, Let's Organizations: Unity Software, Ardagh Locations: Fuller's

☆ Apple's new AI is made in Google data centers
▼ + stars: | 2024-06-14 | by ( Hugh Langley | ) www.businessinsider.com time to read: +5 min

But Apple and Google had for months been working together behind the scenes, with Google giving Apple access to its data centers to train the iPhone maker's new AI models. For years, Apple has leaned on Google and Amazon's cloud services to store data for its products. For example, when Apple device users do iCloud backups they are often stored in Google's data centers. Most of the impressive features of AI models must be at least partly handled in massive energy-sucking data centers, which companies such as Microsoft, Google and Amazon have spent years building. Bloomberg previously reported that Google and Apple were also in talks to bring Google's Gemini AI to iOS devices.

Persons: —, OpenAI, Googlers, It's, Craig Federighi Organizations: Service, Apple, Google, Business, Apple Intelligence, Nvidia, Microsoft, Oracle, Bloomberg

☆ Energy prices in France turn negative as surging renewable output takes nuclear plants offline
▼ + stars: | 2024-06-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

French energy prices fell into negative territory on an overflow of renewable power, Bloomberg reported. AdvertisementDay-ahead energy prices in France fell into negative territory amid surging renewable power production, Bloomberg reported. The situation in France is different in that the rollout of renewable power has been slower than in other countries in the region, Reuters said. Paris has installed around 45 gigawatts of wind and solar capacity, and is behind European Commission targets. AdvertisementIf the National Rally party wins, it has pledged to slash renewable subsidies and end the wind power industry's expansion.

Persons: —, It's, SEB Research Organizations: Bloomberg, Service, Electricite, Reuters, National Rally Locations: France, Spain, Germany, Paris

☆ Oil prices on track for weekly gain on solid demand outlook
▼ + stars: | 2024-06-14 | by ( ) www.cnbc.com time to read: +1 min

Oil prices fell on Friday but were on track for their first weekly gain in four weeks as markets assessed the impact of higher-for-longer U.S. interest rates versus solid outlooks for crude and fuel demand this year. Brent crude futures were down 72 cents, or 0.87%, to $82.04 a barrel at 0100 GMT. In a see-saw week, oil prices rallied after the Organization of Petroleum Exporting Countries stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman Sachs projected solid U.S. fuel demand this summer. Further buoying the market, Russia pledged to meet its output obligations under the OPEC+ pact, after saying it exceeded its quota in May. This should see the crude oil market remain well supported over the next 18 months," ANZ analysts said in a client note.

Persons: Goldman Sachs Organizations: Brent, West Texas, Organization of Petroleum, OPEC, ANZ, U.S . Federal Reserve, Fed Locations: Russia, OPEC, China

☆ Saudi Arabia looking to China for a lifeline for its futuristic city could mean trouble for the US
▼ + stars: | 2024-06-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how Saudi Arabia is courting Chinese investors for help with its massive, futuristic city facing financial issues. NeomSaudi Arabia's dreams of a futuristic city are turning into a financial nightmare, and one of its solutions could spell trouble for the US. Since 2017, the Kingdom has touted big plans for the desert megacity Neom . AdvertisementThe city plans to heavily use renewable energy, a key area of focus for China as it digs itself out of its economic hole . But a soft real estate market and a trail of angry business partners and customers are threatening to thwart his big plans .

Persons: —, Prince Mohammed bin Salman's, Neom's, hasn't, Tom Porter, Prince, Aaron Weiner's, Weiner, Justin Sullivan, it's, they'd, Tyler Le, Giovanna Ventola, Michael Shvo, Shvo, Tesla, Jose Uribe, Sen, Bob Menendez, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, UEFA, Business, Neom, US, International Monetary Fund, Bank of America, Apple, Apple Intelligence, OpenAI, Amazon, Bonnaroo Music, Arts Festival, Post Malone Locations: Saudi Arabia, Neom, Saudi, Kingdom, China, Gaza, New York, London

☆ Trump's attempt to rally Gen Z continues — with Logan Paul
▼ + stars: | 2024-06-14 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +6 min

Trump's out to charm Gen Z, and that demographic might already be souring on BidenFreshly convicted of 34 charges of falsifying business records, the presumptive Republican presidential nominee seems to have a new campaign strategy — appealing to younger Gen Z voters. Appealing to Gen Z could work for Trump, especially if one accounts for the "Trump amnesia" effect among Gen Zers. Now aged between 12 and 27 — some Gen Zers may have been too young during his presidency to be politically in tune with Trump-era policies. And Gen Zers who vocally backed Biden during his 2020 run may also be souring on him in 2024. Representatives of Trump, Paul, and Biden didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, Logan Paul, Donald Trump, Trump, Paul, Mike Majlak, Putin, Elon Musk, MAGA Organizations: Service, Tesla, Business, Trump Locations: Russian

☆ Here’s how to invest in stocks when interest rates are higher for longer
▼ + stars: | 2024-06-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

How should traders invest in a higher-for-longer rate environment? Before the Bell: What do higher-for-longer rates mean for the stock market? What I find interesting and actually kind of invigorating is the resilience of the US economy in the face of these expected higher-for-longer rates. There will be some sectors that higher-for-longer rates will impact. And so we can see consumer durables slowing down or suffering a little bit in this higher-for-longer rate environment.

Persons: Price, Bell, Wylie Tollette, we’ve, We’ve, Jeanne Sahadi, isn’t, —, ”, “, ” Read, iPhones Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Consumer, Franklin Templeton Investment Solutions, Big Tech, Energy, Gallup, Global, “, Apple, Microsoft, Nvidia Locations: New York, “ State, United States

☆ Gas prices are cheaper than last summer and miles away from the nightmare of 2022
▼ + stars: | 2024-06-14 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Gas prices today are not cheap – but they are miles away from that point. Of course, gas prices were cheaper during the Covid-19 pandemic because demand was severely low. In part because they are so visible, gas prices play a key psychological role in how people feel about the economy. “But there is more work to be done — the President remains committed to lowering prices at the pump for Americans and maintaining a stable and secure energy supply.”Real gas prices are cheaper than in 2018Many people may wish for the $2 gas prices of last decade. “Inventories are likely headed back to normal levels, which will keep gasoline prices lower throughout the summer driving season.

Persons: New York CNN —, ”, Patrick De Haan, it’s, “ We’ve, De Haan, Joe Biden’s, Mark Zandi, Angelo Fernández Hernández, That’s, “, Rob Thummel, ” Thummel Organizations: New, New York CNN, AAA, Labor Statistics, Federal Reserve, White, Moody’s Analytics, “, CNN, Covid, US Energy Information Administration, White House Locations: New York, California, Utah, Washington, Idaho, Arizona, Wisconsin, Nevada, United States, OPEC, Ukraine, Israel, Gaza

☆ Catherine, Princess of Wales, making ‘good progress’ against cancer and is set to make first public appearance in months
▼ + stars: | 2024-06-14 | by ( Rob Picheta | Max Foster | ) edition.cnn.com time to read: +4 min

London CNN —Catherine, Princess of Wales, has said she is making “good progress” in her recovery from cancer, and will make her first public appearance in months at the King’s official birthday celebration on Saturday. “I am making good progress, but as anyone going through chemotherapy will know, there are good days and bad days,” the Princess, who is often known as Kate, said in a personal message released on Friday. But on the good days, when you feel stronger, you want to make the most of feeling well.”“My treatment is ongoing and will be for a few more months,” Kate wrote. It represents a significant moment in the Princess’s recovery, marking her first public appearance since Christmas Day – weeks before her cancer diagnosis. Neither royal has specified the type of cancer they are receiving treatment for, or revealed details about their progress.

Persons: London CNN — Catherine, Princess of Wales, Catherine, King Charles III’s, Kate, “, ” Kate, ”, William, Charles, Prince William, King Charles III Organizations: London CNN Locations: Buckingham, Kensington, Windsor, “, France

☆ G7 leaders accuse China of ‘enabling’ Russia war on Ukraine in stark warning
▼ + stars: | 2024-06-14 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

CNN —China’s support for Russia is “enabling” its war in Ukraine, leaders of the world’s most advanced economies warned Friday in a hardening of tone against Beijing, while threatening further sanctions against actors that materially support Moscow’s war machine. “China’s ongoing support for Russia’s defense industrial base is enabling Russia to maintain its illegal war in Ukraine and has significant and broad-based security implications,” the G7 leaders said in the communique Friday. The US and European Union have already slapped sanctions on Chinese companies, and this week, the US imposed fresh sanctions on China-based firms supplying semiconductors to Russia. “So it is, in fact, helping Russia.”Leaders of the G7 nations gathered in southern Italy this week, with boosting support for Ukraine top of the agenda. “We express serious concern about the increasing use of dangerous maneuvers and water cannons against Philippine vessels.”

Persons: “, Joe Biden, Filippo Monteforte Organizations: CNN, Beijing, of, European Union, ”, Ukraine, Getty, EU Locations: Russia, Ukraine, Italy, United States, Europe, China, Western, Moscow, Beijing, “ China, AFP, European, East, South China, South

☆ Remo Saraceni, 89, Dies; Inventor of the Walking Piano Seen in ‘Big’
▼ + stars: | 2024-06-14 | by ( Alex Traub | ) www.nytimes.com time to read: +1 min

Remo Saraceni, a sculptor, toy inventor and technological fantasist best known for creating the Walking Piano that Tom Hanks and Robert Loggia danced on in a beloved scene of the hit 1988 movie “Big,” died on June 3 in Swarthmore, Pa. Mr. Saraceni died at Mr. Medaugh’s home, where he had been living in recent years. Mr. Saraceni’s specialty was “interactive electronics,” he told New York magazine in 1976. All were powered by what Mr. Saraceni (pronounced SAR-ah-SAY-nee) called “people energy”: the voice, touch and heat of the human body. The power of this sort of technology to enchant its users became a pivotal plot element of “Big,” and in turn the central prop in one of the most fondly recalled scenes in recent movie history.

Persons: Remo Saraceni, Tom Hanks, Robert Loggia, ”, Benjamin Medaugh, Saraceni, Medaugh’s Organizations: Mr, New York Locations: Swarthmore, Pa

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Hasbro, Sunrun, Amazon, Costco, Spotify, Pinterest, Apple & more
▼ + stars: | 2024-06-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Piper Sandler reiterates Pinterest as a top pick Piper said it's sticking with its overweight rating on the stock. JPMorgan reiterates Amazon as overweight JPMorgan said the e-commerce giant remains a top pick at the firm. The firm also says it's sticking with its outperform rating on Apple. "We are reiterating our Buy rating and raising our price target on shares of Costco from $890 to $940." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla .

Persons: Bernstein, it's, D.A, Davidson, KBW, Tesla, underperform Bernstein, Musk, Piper Sandler, Pinterest, Piper, Evercore, Morgan Stanley, Sunrun, Guggenheim, Macquarie, Roblox, TD Cowen, Cowen, Michael Colglazier, Morgan Stanley downgrades Twilio, JPMorgan, GenAI, Wolfe, Elon Organizations: Bank of America, Elon, Spotify, UBS, TPC, Galactic, America, JPMorgan, Adobe, " Bank of America, Hasbro, of America, Monopoly, Apple, Baidu, Apple Intelligence, Costco, Nvidia, Tesla Locations: China

☆ Biden says that the US will back Ukraine for a decade. It may prove a hollow promise.
▼ + stars: | 2024-06-14 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

US President Joe Biden at the G7 pledged a decade of security support for Ukraine. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAt the G7 summit in Italy on Thursday, Ukraine's President Volodymyr Zelenskyy hailed a "historic" new 10-year security deal signed with US President Joe Biden. Under the deal, the US will work with Ukraine for the next decade to boost its military capabilities, its defense industrial base, its economy, and its energy infrastructure. The G7 also provided Ukraine with a much-needed $50 billion loan, which will be paid back using interest on frozen Russian assets.

Persons: Joe Biden, —, Volodymyr Zelenskyy Organizations: Ukraine, Service, Ukraine's, US, Business Locations: Ukraine, Russia, Italy

☆ Chinese automakers overtake U.S. rivals in sales for the first time, report shows
▼ + stars: | 2024-06-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Chinese brands, led by Shenzhen-based BYD, sold 13.4 million new vehicles last year, while American brands sold about 11.9 million, the data showed. Japanese brands led with 23.59 million sales. "Negligence from legacy automakers, which has resulted in consistently high car prices, has inadvertently driven consumers toward more affordable Chinese alternatives," Jato senior analyst Felipe Munoz said in the report. Brands from China have made particular inroads in emerging economies, where Jato said one in five new car sales were made last year amid increased global demand. That is more than the total sales in the U.S. or Europe during the year," said Munoz.

Persons: Felipe Munoz, Jato, Munoz Organizations: Automotive, Jato Dynamics, Brands Locations: Lianyungang Port, Jiangsu Province, China, U.S, Shenzhen, Europe

☆ Solar storm hits Mars, creating planet-engulfing auroras, NASA says
▼ + stars: | 2024-06-14 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —When the sun unleashed an extreme solar storm and hit Mars in May, it engulfed the red planet with auroras and an influx of charged particles and radiation, according to NASA. Solar radiation hits MarsThe most extreme storm occurred on May 20 after an X12 flare released from the sun, according to data collected by the Solar Orbiter spacecraft currently studying the sun. The Curiosity rover, currently exploring Gale Crater just south of the Martian equator, took black-and-white images using its navigation cameras during the solar storm. But Mars lost its magnetic field billions of years ago, which means the planet has no shield from incoming energized solar particles. By tracing the data from multiple Martian missions, scientists were able to watch how the solar storm unfolded.

Persons: Gale, “, ”, Don Hassler, ” Auroras, Mars, Deborah Padgett, MAVEN, Christina Lee Organizations: CNN, NASA, Solar Orbiter, Goddard Space Flight, Mars, Caltech, JPL, Southwest Research, Exploration, Jet Propulsion Laboratory, University of California, Space Sciences Laboratory Locations: Northern California, Alabama, Greenbelt , Maryland, Boulder , Colorado, Pasadena , California

☆ The AI trade dominated this week — here's how we're responding to the market divergence
▼ + stars: | 2024-06-14 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Market check: Stocks are trending lower Friday, a day after the S & P 500 and Nasdaq closed at a new record high. At nearly $800 billion following its earnings-driven surge this week, Broadcom is among the 10-most valuable companies in the S & P, too. Just like the Dow has lagged the S & P and tech-heavy Nasdaq, most of our Club-owned Dow names have been laggards. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Dow, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Broadcom, Nvidia, Apple, Microsoft, Palo Alto Networks, DuPont, Dow Jones, Dow, Honeywell, Procter & Gamble, Disney, New York Stock Exchange, Jim Cramer's Charitable Locations: Palo Alto

☆ These 3 utilities stocks are set to benefit the most from the AI boom as demand for electricity surges, according to a $47 billion firm
▼ + stars: | 2024-06-14 | by ( Christine Ji | ) www.businessinsider.com time to read: +1 min

AI and data centers are driving up electricity usage in the US after a decade of flat demand. As a result, the utilities sector is performing strongly, especially independent power producers. IPP stocks like NRG, CEG, and VST will benefit the most from AI, says one portfolio manager. Investors are pouring into utilities stocks as data centers drive outsized demand for electricity. This is big news for the US utilities sector, which has experienced essentially flat demand growth over the last decade.

Persons: — Organizations: Service, Nvidia, Goldman Sachs Research, Business

☆ How the makers of Catan: New Energies reworked the board game to address the climate crisis
▼ + stars: | 2024-06-14 | by ( Saira Mueller | ) edition.cnn.com time to read: +10 min

This is, says Kowert, because “games reflect culture.”Adding climate crisis elements to games can also make the topic more accessible, Kowert says. On the side of the Catan: New Energies board, a little black marker tracks the level of greenhouse gasses in the current game. It can also trigger the early end of the game, in which case the player with the most renewable power plants wins. Players can add green discs to the bag — which can give players using renewable energy bonuses — by building renewable power plants. When development on New Energies started in 2011 there were three renewable energy sources: wind, water and solar.

Persons: ” Rachel Kowert, “, Catan, Erik Assadourian, ”, Benjamin Teuber, Klaus Teuber, Teuber, Assadourian, Kelli Schmitz, playtesters Organizations: CNN, Storm, ”, Catan, Worldwatch Institute, Catan GmbH, Development, Brand Development Locations: Springs, United States

“I never loved him,” Trump said of Valadao, according to a GOP member. Trump did not shy away from acknowledging the bad blood between House Speaker Mike Johnson and GOP Rep. Marjorie Taylor Greene, who unsuccessfully tried to oust Johnson against Trump’s wishes. House Republicans voted to hold Attorney General Merrick Garland in contempt of Congress on Wednesday. In his meeting with GOP lawmakers, Trump called the Department of Justice “dirty no good bastards,” according to another source in the room. In a news conference after the meeting, House Majority Whip Tom Emmer said that the former president’s felony convictions have only energized the party that will propel them to victory in November.

Persons: Donald Trump, Taylor Swift, Nancy Pelosi, Trump, –, David Valadao, “, ” Trump, Valadao, Mike Johnson, Marjorie Taylor Greene, Johnson, Trump’s, Greene, “ He’s, ”, ’, Merrick Garland, Department of Justice “, Kevin Hern, Tom Emmer, it’s, ” Emmer, Roe, Wade, Nancy Mace, Ronald Reagan, Derrick Van Orden, Pelosi, —, popstar Taylor Swift, Joe Biden, Hannibal Lecter Organizations: CNN, House Republicans, Capitol, Republicans, GOP, Department of Justice, Food, Milwaukee, Wisconsin Republican, Milwaukee ”, Republican Locations: California, Oklahoma, New York, Ukraine, Wisconsin, Milwaukee

☆ Oil prices could drop to $60 per barrel in 2025 as world faces 'substantial surplus,' Citi says
▼ + stars: | 2024-06-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

OPEC+ members recently announced plans to bring 2.5 million bpd back to the market from October through September 2025. If the group follows through with its announced plan, the oil market will see a surplus of 2.6 million bpd or more. Deutsche Bank analyst Michael Hsueh said the OPEC+ production plan will cast a bearish shadow over the next two years . It is "inconceivable that the market could absorb anything close" to 2.5 million bpd, Hsueh said. The International Energy Agency warned Wednesday the world will be awash in oil by 2030, with production capacity outpacing demand projections by eight million bpd.

Persons: Brent, Michael Hsueh, Hsueh, Fatih Birol Organizations: Citi, Brent, Deutsche Bank, United Arab Emirates, TD Securities, International Energy Agency Locations: OPEC, North America, Brazil, Guyana, U.S

☆ Jeff Bezos has a vision to colonize space with a trillion people. We asked experts to put it to the test.
▼ + stars: | 2024-06-13 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +8 min

Jeff Bezos's space colonies would look like cylindersAn artist's concept of an O'Neill space colony, which could theoretically emulate Earth-like living conditions in space. O'Neill space colonies would be large enough to host entire cities, 10,000-foot-tall mountains, and millions of people. AdvertisementBezos isn't suggesting that people will be living in O'Neill space colonies by the end of the century. AdvertisementSaving Earth would be far easier than building Bezos' space colonies, he told BI. Even if we never make it to space colonies, the work of researchers studying extraterrestrial colonization could benefit us here on Earth.

Persons: —, Jeff Bezos, podcaster Lex Fridman, Bezos, Fridman, astrobiologists —, Jeff Bezos's, O'Neill, Gerard K, Anthony Longman, Longman, Rebeca Gonçalves, Adam Watkins, we've, Watkins, you've, We've, Martin Rees, Gonçalves, Rees Organizations: Service, Business, Elon, SpaceX, European Space Agency, NASA, University of Nottingham, United, Royal Locations: Antonio , TX, O'Neill

☆ As the heat goes up this summer, so do cooling costs
▼ + stars: | 2024-06-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

The groups projected that the average cost across the country could be $719, a nearly 8% increase from the same period last year. In some regions that figure is higher; in Southern states like Texas, the average cost could hit $858. The forecast for summer cooling costs is based on federal data on regional electric prices, summer temperatures, and residential air conditioning, Wolfe said. Related stories"We are assuming a higher rate of temperature change, and recent heat waves are bearing this out," Wolfe said. Those who do may not turn it on in an effort to avoid higher bills, Wolfe said.

Persons: —, Mark Wolfe, May, Wolfe, Louis — Organizations: Service, Business, National Energy Assistance, Association, Center for Energy, Southwest, US Energy Information Administration, Low Income, Energy Assistance Locations: Southern, Texas, Phoenix, El Paso , Texas, York

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ Wholesale prices unexpectedly fell 0.2% in May
▼ + stars: | 2024-06-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back. The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department's Bureau of Labor Statistics reported Thursday. Excluding food, energy and trade services, the PPI was unchanged, compared with expectations for a 0.3% increase. From the wholesale perspective, the PPI was held back by a 0.8% decrease in final demand goods prices, which was the largest decline since October 2023. On the services side, fuels and lubricants retailing margins surged 12.2%, but that was offset in part by a 4.3% plunge in airline passenger services prices.

Persons: Dow Jones Organizations: Labor Department's Bureau of Labor Statistics, PPI, Stock, BLS, Federal Reserve, Labor Department

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