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Futures News, April 29th: Positive news has boosted market confidence in fuel oil prices. Downstream traders are maintaining their inventory levels to meet pre-holiday demand, resulting in relatively active purchasing. Some refineries have seen significant inventory reductions. With favorable news and supply-demand factors, fuel oil trading is expected to remain stable in some areas today, while others may see slight increases.According to Futures News on April 29, as of 8:30 AM Beijing time, spot platinum rose 0.09% and spot palladium fell 0.12%.Note: The Tokyo Stock Exchange is closed today.Futures News, April 29th - According to foreign media reports, palm oil futures on the Malaysian Derivatives Exchange (BMD) are likely to open higher on Wednesday morning, following gains in external markets. International crude oil futures continued to rise on Tuesday, gaining nearly 3%, due to ongoing concerns about supply constraints caused by the closure of the Strait of Hormuz. This, coupled with a firm rise in Chicago soybean oil futures, will boost the early performance of Malaysian crude palm oil futures. However, weak palm oil export demand will limit the upward momentum. The Indian Refiners Association (SEA) stated that increased biodiesel production in global palm oil exporting countries, diverting more palm oil for domestic energy use, will lead to a reduction in export supply.On April 29th, Futures News reported that Chicago Board of Trade (CBOT) corn futures closed higher on Tuesday, with the benchmark contract rising 1.3%, primarily due to stronger international crude oil futures, robust corn demand, and the possibility that rainfall in the Midwest might slow spring planting. Traders stated that continued rainfall in the US Corn Belt, strong corn export demand, and rising crude oil prices supported corn prices. High fertilizer costs are expected to lead farmers to reduce corn planting area, which also supported corn futures prices. Soybean and corn planting in the US is progressing well, but storms in the Midwest may delay planting in some areas. A report from the US Department of Agriculture showed that as of Sunday, US corn planting progress was 25%, well above the five-year average of 19%. The report also showed that among the 18 major producing states, only North Dakota has not yet made any progress in planting.

Meta Preparing Thousands of Layoffs in Latest Tech Industry Retrenchment

Aria Thomas

Nov 07, 2022 14:05

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The parent firm of Facebook, Meta Platforms (META), will lay off hundreds of staff this week, the Wall Street Journal reported on Sunday, citing individuals familiar with the matter. Wednesday is planned for the announcement.


Meta will be the second technology business in recent weeks to announce layoffs or hiring restrictions, as the sector prepares for a sales downturn.


Meta has 87,000 workers as of September, and this will be the first significant layoff in the company's 18-year existence.


Following Elon Musk's purchase of Twitter, the firm declared it will reduce its personnel by up to 50 percent. Amazon said it will halt additional recruiting. Lyft said that it will reduce its personnel by an extra 13% in its second wave of layoffs. Stripe revealed a 14 percent reduction in its staff.


Meta refused to comment on the layoffs, but referenced CEO Mark Zuckerberg's recent declaration that the business will "concentrate its spending on a few of high-priority growth areas."


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