Tripledot CEO Calls Deal to Buy Applovin ‘Transformational'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Politico
7 minutes ago
- Politico
DOJ calls for Powell to fire Cook over fraud accusation
Martin's letter, which was first reported by Bloomberg, was sent as President Donald Trump and administration officials have sought to pressure Fed policymakers into lowering interest rates. Trump has called for Cook's resignation. Federal Housing Finance Agency Director Bill Pulte sent a criminal referral to the Justice Department last week alleging that Cook had claimed two separate homes as a primary residence. The combative FHFA director has logged similar referrals for Sen. Adam Schiff (D-Calif.) and New York Attorney General Letitia James — and on Thursday said his agency was investigating Cook over a separate property. Fed board members can be removed only by the president 'for cause,' a provision that has not been fully litigated but has generally been interpreted to mean that the president can't fire a central banker over policy disagreements. Cook was nominated by President Joe Biden and confirmed by the Senate on a party-line vote in 2022. While Pulte has said that he believes that Trump has enough evidence to fire Cook for cause, it's unclear how Powell could act. The Federal Reserve Act offers no indication that the chair can dismiss board members. Fed spokesperson Darren Gersh declined to comment. Martin did not immediately respond to requests for comment. Cook has denied wrongdoing and said on Wednesday that she has 'no intention of being bullied to step down from my position because of some questions raised in a tweet.'
Business Insider
7 minutes ago
- Business Insider
Africa's second-largest oil exporter sees output fall below 1 million barrels since OPEC exit
Angola's crude production slipped below 1 million barrels a day in July, marking the lowest level since March 2023. Angola's crude oil production dropped below 1 million barrels per day in July, the lowest since March 2023. The decline in output, documented at 998,757 barrels daily, missed governmental projections of 1.07 million barrels. Lower production may challenge revenue targets due to oil prices trading below Angola's budget benchmark. The nation targets reduced reliance on resource-backed loans, with notable decreases in oil-backed debt to China observed. Output fell to 998,757 barrels per day, according to data from the National Agency for Petroleum and Gas (ANPG), missing the government's projection of 1.07 million barrels. The decline threatens to undermine revenue targets as oil prices trade below the $70-per-barrel benchmark set in the 2025 budget. The southwest African nation, which quit OPEC in 2023 after clashing with the group over quotas, has been working to sustain output above the million-barrel threshold, according to Bloomberg. Officials are now weighing financial support from the International Monetary Fund, though no formal request has been made, the Washington-based lender said. Angola has sought new investment to stem the decline. Equinor ASA and Chevron Corp. have recently expanded activities, while TotalEnergies SE approved a $6 billion project last year. Still, Oil Minister Diamantino Pedro Azevedo has warned that mitigating falling production remains the government's 'biggest challenge.' Debt reduction, export outlook At the same time, Angola is moving to reduce reliance on resource-backed loans, as it confronts a difficult global backdrop of volatile commodity prices, high interest rates, and fragile investor sentiment. Oil-backed debt to China, which stood at $10.15 billion at the end of 2024, decreased to $8.94 billion by July, according to official data. Authorities project the total will drop further to between $7.5 billion and $8 billion by year-end.
Bloomberg
7 minutes ago
- Bloomberg
Fintech's Next Growth Chapter
David Haber, a general partner at venture capital powerhouse Andreessen Horowitz, discusses the landscape for fintech-related companies as well as the firm's relationship with the Trump administration. David speaks with Tim Stenovec, Emily Graffeo and Paige Smith on Bloomberg Businessweek Daily. (Source: Bloomberg)
