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Fed’s Bostic: Inflation still main concern, though single quarter-point cut likely warranted this year

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Fed’s Bostic: Inflation still main concern, though single quarter-point cut likely warranted this year

WASHINGTON (Reuters) -High inflation remains the U.S. Federal Reserve’s main risk, though evidence of a weaker labor market still likely warrants a single quarter-point rate cut this year, Atlanta Fed President Raphael Bostic said on Wednesday.After four years with inflation above the Fed’s 2% target, “price …

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Instagram rolls out iPad app with Reels at the center to take on TikTok

The app addresses longstanding complaints about Instagram’s iPad experience, which previously required using a scaled-up iPhone version with blurry visuals and missing features.The new app, available globally on devices running iPadOS 15.1 and later, opens directly to a Reels feed — a nod to what In …

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Chevron signs preliminary agreement with Angola to explore for oil in offshore block

The risk services contract with Angola’s National Oil, Gas and Biofuels Agency was signed on the first day of an energy conference in the country. “The execution of the RSC remains subject to regulatory approvals,” Chevron said in a statement.The deep-water block is found in the Lower Congo Basin, and is adja …

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Other Headlines

Exclusive-OPEC to consider further oil output hike on Sunday, sources say

LONDON/MOSCOW (Reuters) -Eight OPEC members will consider further raising oil production at a meeting on Sunday, two sources familiar with the discussions said, as the group seeks to regain market share.OPEC has reversed its strategy of output cuts from April and has already raised quotas by about 2.5 milli …

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