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Barkin Says Appropriate for Fed to Remain ‘Modestly Restrictive’

(Bloomberg) -- Federal Reserve Bank of Richmond President Tom Barkin said the central bank must remain determined in its inflation fight and flagged the risk of longer-term inflationary headwinds. Most Read from BloombergNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesThe Trump Administration Takes Aim at Transportation ResearchDC Mayor Re-ups Call for Statehood as Trump Threatens TakeoverShelters Await Billions in Federal M

Why Bitcoin, Ethereum, and Dogecoin Crashed Today

To be fair, the move has little to do with crypto itself; values are down because of a feared trade war and waning consumer confidence. Bitcoin (CRYPTO: BTC) has been the biggest headline maker, falling 8.2% over the past 24 hours as of 11:45 a.m. ET. Ethereum (CRYPTO: ETH) is down 9.2% over that time, and Dogecoin (CRYPTO: DOGE) is off 9.1%.

BP to Prepare Lubricants Sale, Ditch Plan to Cut Oil Output in Strategy Review

(Bloomberg) -- BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it embarks on a shift away from renewable energy amid pressure from activist investor Elliott Investment Management, according to people familiar with the matter. Most Read from BloombergNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesDC Mayor Re-ups Call for Statehood as Trump Threatens Takeove