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(Bloomberg) -- Imperial Oil Ltd., the Canadian oil sands unit of Exxon Mobil Corp., is calling for more government funding for the nation’s industry, which is embarking on a C$16 billion ($11 billion) endeavor to deploy carbon capture and storage technology and slash emissions by 2030. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing

(Bloomberg) -- As higher egg prices add to inflation for US consumers, producer shares are providing investors with outsized returns. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamShares of the top US egg supplier Cal-Maine Foods Inc. have more than doubled over the past year, gaining 127

WASHINGTON (Reuters) -U.S. producer prices increased by the most in five months in November, but easing costs of services such as portfolio management fees and airline fares offered hope that the disinflationary trend remains in place despite stalled progress. Other details of the report from the Labor Department on Thursday were, however, mostly favorable, prompting economists to sharply lower their estimates for the personal consumption expenditures (PCE) price measures tracked by the Federal Reserve for its 2% inflation target. The report, together with other data showing more people were collecting unemployment checks at the end of November relative to the beginning of the year as demand for labor cools, cemented investor expectations that the U.S. central bank would deliver its third consecutive interest rate cut next week.

(Bloomberg) -- US wholesale inflation unexpectedly accelerated in November on a surge in egg prices, while other categories suggested a muted increase in the Federal Reserve’s preferred price gauge.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersCity Hall Is HiringAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamThe producer price index for final demand ros

Traders of interest-rate futures that settle to the Federal Reserve's policy rate added to bets the central bank rate will cut borrowing costs next week and follow up next year with further reductions, after economic data showed weekly claims for unemployment insurance unexpectedly rose. Traders now see the probability of a rate cut next week at about 97%, up from about 94% before the report, and are pricing in another three quarter-point rate cuts in 2025.

Wholesale costs in the United States picked up sharply last month, signaling that price pressures are still evident in the economy even though inflation has tumbled from the peak levels it hit more than two years ago. The Labor Department reported Thursday that its producer price index — which tracks inflation before it reaches consumers — rose 0.4% last month from October, up from 0.3% the month before. Higher food prices pushed up the November wholesale inflation reading, which came in hotter than economists had expected.

(Bloomberg) -- Global oil markets face a glut next year despite last week’s decision by OPEC+ to delay supply increases, the International Energy Agency said. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxBrace for a Nationwide Shuffle of Corporate HeadquartersAmerican Institute of Architects CEO ResignsCity Hall Is HiringCloud Computing Tax Threatens Chicago’s Silicon Valley DreamWorld markets will be oversupplied by a hefty 1.4 million barrels a day if the group