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EIA Natural Gas Report: As of the week ending October 10, total U.S. natural gas inventories were 372.1 billion cubic feet, an increase of 80 billion cubic feet from the previous week and 26 billion cubic feet from the same period last year, a year-on-year increase of 0.7%. At the same time, it was 154 billion cubic feet higher than the five-year average, an increase of 4.3%.The EIA natural gas inventory in the United States for the week ending October 10 was 80 billion cubic feet, which was in line with expectations of 81 billion cubic feet and the previous value of 80 billion cubic feet.New York silver futures hit $53 an ounce, up 3.16% on the day.Russian Deputy Prime Minister Novak: OPEC+ cooperation will help balance global supply and demand.On October 16, ECB board member Wunsch said that the ECB has done almost perfect in dealing with this "once-in-a-century" inflation shock. Wunsch pointed out that although he had hoped that the ECB would start the tightening cycle earlier after the inflation surge in 2022, overall he was satisfied with the subsequent decision. "I was one of those who thought we should act earlier, but then we did catch up. I would say that we have done almost perfect since then." He reiterated his previous view that there are no obvious upside or downside risks to inflation at present. "If you have to choose between upside or downside risks, I would say that the risk is slightly biased to the downside, which is mainly affected by the appreciation of the euro and the economic trend. But overall, we are in a good position."

A U.S. senator seeks approval of an antitrust measure targeting Big Tech

Charlie Brooks

Jul 20, 2022 11:01

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Tuesday, antitrust leader Senator Amy Klobuchar encouraged Congress to embrace a bill to reign in Big Tech, despite the bill's diminishing odds of becoming law.


Senate Majority Leader Chuck Schumer has been under pressure from supporters to schedule a vote on the bill that would outlaw self-preferencing by Big Tech platforms like Amazon.com (NASDAQ:AMZN) and Alphabet's Google. Klobuchar, a main sponsor of the initiative together with the Republican Chuck Grassley, has indicated that she has the 60 votes necessary to pass the law.


Klobuchar made a statement on Tuesday noting, "We must implement legislation to create road rules for internet monopolies." These platforms use their dominant position to unfairly hurt their rivals, at the expense of customers and competition.


Tuesday evening, she will give a speech on the Senate floor about the Big Tech antitrust law and related matters.


Tuesday, Schumer indicated that he was concentrating on chip manufacturing law and judicial nominees. In response to a question on antitrust laws, he said: "I work alongside Senator Klobuchar. I support these propositions... We must ensure that 60 ballots are cast."


Including this week, the Senate has three weeks until its August recess. When legislators return in September, the focus will likely be on the November midterm elections.


There has been discussion of combining Klobuchar's measure with another bipartisan proposal tackling Apple (NASDAQ:AAPL) and Google's dominance over their respective app stores.


Numerous suggestions to regulate the IT industry have been made, but experts anticipated that these two antitrust bills had the best chance of passing this year owing to bipartisan concern over the dominance of huge internet companies. While Democrats are concerned about antitrust problems, Republicans have accused internet platforms of suppressing conservative voices.


A plan opponent indicated on Tuesday that its passage into law this year was "very unlikely." On the contrary, advocates for anti-Big Tech regulations have continued to campaign for such measures.

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