Oil Prices Tumble as China Demand Concerns and Strong Dollar Shake Markets
Global oil benchmarks face steep weekly losses as China's projected peak demand and strengthening U.S. dollar pressure markets. Brent crude falls to $72.55 while analysts predict supply surpluses, suggesting continued bearish conditions ahead.
Federal Judge Blocks Historic $25B Kroger-Albertsons Grocery Merger
A federal court has halted Kroger's proposed $25 billion acquisition of Albertsons, siding with FTC concerns over reduced competition and consumer impacts. The ruling derails what would have been one of the largest U.S. grocery retail mergers, despite the companies' arguments about competing with major retailers like Walmart and Amazon.
Fed Signals More Cautious Approach with Two Rate Cuts Projected for 2025
The Federal Reserve revises its interest rate outlook, reducing projected cuts from four to two for 2025 amid persistent inflation concerns. Chair Powell acknowledges progress in inflation reduction but notes recent stagnation, leading to a more conservative approach that surprised markets.