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07.03.26 - 01:48
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Wall Street Week | Lloyd Blankfein, Ukraine′s Tech, Big Tobacco′s Future, Building Data Centers (Bloomberg)
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This week, from Iran to inflation, former Goldman Sachs CEO Lloyd Blankfein explains why risk management matters most when markets appear stable and confident. And, From digital IDs to AI agents, Ukraine is rebuilding government services even as war reshapes the country. Plus, as smokeless products such as Zyn and IQOS surge in popularity, are we witnessing harm reduction or a smarter tobacco strategy? Later, who will build the data centers powering artificial intelligence and are there enough workers? (Source: Bloomberg)...
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07.03.26 - 01:27
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US Gasoline Demand Fell Further Amid Long-Term Structural Shift: Plunging Per-Capita Consumption (ZeroHedge)
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US Gasoline Demand Fell Further Amid Long-Term Structural Shift: Plunging Per-Capita Consumption
Authored by Wolf Richter via Wolf Street,
Gasoline consumption in the US, in terms of product supplied to gas stations, declined by about 1% in 2025, to 8.91 million barrels per day, according to EIA data, below where consumption had first been in 2003, even though the US population increased by 52 million people, or by 18%, over the same period.
Compared to the peak in 2018, gasoline consumption in 2025 fell by 4.5%. Compared to the prior peak in 2007, gasoline consumption is down 4.1%.
Gasoline consumption is increased by miles driven – which inched up to a record – and is slowed by the improving efficiency of gasoline-powered vehicles and the growing share of EVs.
The effects of the two Oil Shocks in the 1970s on gasoline consumption was dramatic. High gasoline prices and a recession led to fewer miles driven, but it also unleashed efforts by US automakers to make and sell smaller, more fue...
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07.03.26 - 00:36
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Surprise Drop in US Payrolls Casts Doubt on Steadying Job Market (Bloomberg)
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US employers unexpectedly cut jobs in February and the unemployment rate rose, pointing to lingering fragility in a labor market that was thought to be stabilizing. Nonfarm payrolls fell 92,000 last month, one of the largest declines since the pandemic, after a strong start to the year. While some of the downside was expected in advance, like a temporary dent from striking healthcare workers and a potential hit from bad weather, a wide array of industries cut jobs in the month. The figures call into question whether the labor market is actually steadying — as Wall Street economists and Federal Reserve officials had hoped — after the worst year for hiring outside of a recession in decades. Bloomberg TV and Radio International Economics & Policy Correspondent Michael McKee joins Bloomberg Businessweek Daily to discuss. McKee speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)...
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