genai / news / / The Economic Times
Brent crude and WTI both settled lower amid broader macroeconomic and geopolitical uncertainty.
Kevin Warsh is expected to be confirmed as the next Federal Reserve chair amid rising inflation.
KEY POINTS
- US producer prices surged 1.4% in April, the largest increase in over four years.
- LinkedIn will lay off about 5% of its workforce despite a 12% rise in quarterly revenue.
- JPMorgan appointed Dorothee Blessing, Kevin Foley, and Jared Kaye as new co-heads of global investment banking.
- US crude inventories fell by 4.3 million barrels last week, more than double market expectations.
COMPANIES
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