PPI reflects sharpest rise in three years for U.S. wholesale prices
The cost of wholesale goods and services — where rising...
The cost of wholesale goods and services — where rising inflation tends to show up first — posted the most significant increase in three years in July, possibly heralding a sizable acceleration in price hikes tied to U.S. tariffs.
The producer price index jumped 0.9% last month after no change in June, the government said Thursday.
Some, but not all, of the increase occurred in goods directly affected by tariffs. Food was the biggest contributor to higher wholesale prices
The yearly rate of wholesale inflation climbed to 3.3% from 2.3%, a five-month high.
Another gauge, known as the core rate, which is seen as a more stable measure of wholesale inflation, rose 0.6% in July.
The 12-month increase in the core rate moved up to 2.8% from 2.5%.
The wholesale report doesn’t capture the cost of imports as well as the consumer price index, but the CPI also showed a sharper increase in July.
Epsilon Energy Buys Jack Vaughn's Peak E&P in Powder River
Public E&P Epsilon Energy is acquiring Peak Exploration and Production and its affiliates in the...
Public E&P Epsilon Energy is acquiring Peak Exploration and Production and its affiliates in the Powder River Basin.
Peak E&P LLC and Peak BLM Lease LLC, collectively known as Peak, are majority-owned by Yorktown Energy Partners' funds.
Epsilon will issue 6 million common shares and assume around $49 million of debt to acquire Peak’s Powder River Basin assets. Based on Epsilon’s 10-day volume-weighted average share price of $6.21 per share, the deal’s value is approximately $86.26 million.
The acquired Peak assets include 40,500 net acres in the core of the Powder River Basin. Second-quarter 2025 production averaged 2,200 boe/d (56% oil, 44% gas).
European leaders express Ukraine optimism after call with Trump
German Chancellor Friedrich Merz said “there is hope for peace in Ukraine”...
German Chancellor Friedrich Merz said “there is hope for peace in Ukraine” after he, Ukrainian President Volodymyr Zelensky, and other European leaders spoke virtually with President Trump ahead of his meeting with Vladimir Putin in Alaska tomorrow. Trump characterized the call as “very good,” adding, “I would rate it a 10.” He reportedly agreed that any peace plan must start with a ceasefire and would not be negotiated without Ukraine’s involvement. Trump has recently voiced his frustrations with Putin’s effort to prolong the war and threatened “severe consequences” for not agreeing to a ceasefire, though some allies are concerned he could soften his stance after meeting in person with the Russian leader this week.
Air Canada is canceling flights as attendants go on strike. The...
Air Canada is canceling flights as attendants go on strike. The Canadian flagship airline plans to start canceling flights today and suspend operations completely on Saturday after the union representing its flight attendants voted almost unanimously to go on strike. The union has asked for increased wages and an end to all unpaid work, saying the airline is “not interested” in resolving the dispute. CNN reported that Air Canada offered a 38% compensation increase over four years, among other benefits, but couldn’t reach an agreement after eight months of negotiations. Air Canada operates about 430 flights each day between Canada and the US.
Ikea hired its first non-Swedish CEO, Juvencio Maeztu, a Spanish national who started as a store manager in 2001.
Apple is plotting a big AI expansion with new robots, speakers, security cameras, and a lifelike version of Siri as part of “an effort to restore Apple’s mojo,” Bloomberg reported yesterday.
The next Fed Chair nominee will reportedly be one of 11 candidates, including some private sector executives.
President Trump announced that he will host the 48th annual Kennedy Center Honors himself. Honorees include George Strait and Sylvester Stallone.
