Economy: the news in short stories

Economy · 5 d ago

Fabian Roudra Baroi · CC BY-SA 4.0 · Wikimedia Commons

CIBC names Bill Morneau its next board chair

Morneau, a former federal finance minister, takes over on Jan 1 from Katharine Stevenson, who retires from the board at the end of 2026.

Economy · 5 d ago

FrankvEck · CC BY-SA 4.0 · Wikimedia Commons

Dangote refinery IPO closes almost three times oversubscribed

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Preliminary orders from Nigerian investors reached about 6.4 trillion naira, nearly three times the US$1.6 billion target.

Economy · 5 d ago

Matthew Smith @ Flickr · CC BY 2.0 · Wikimedia Commons

QatarEnergy buys US LNG to hedge against Hormuz disruption

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A 20-year deal with Woodside covers 3 million tonnes a year, and two Cheniere agreements cover up to 4 million more, all in two weeks.

Economy · 5 d ago

Seven tankers of Russian diesel sail towards the US

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Greenpeace, which tracked the vessels, says the tankers carry an estimated 288,000 tonnes. It is unclear whether they will be able to unload.

Economy · 5 d ago

chaddavis.photography · CC BY-SA 2.0 · Wikimedia Commons

Shell and TotalEnergies post their highest profits since 2022

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Shell's third-quarter net profit was US$10.81 billion, almost double a year earlier and above analysts' estimate of US$10.33 billion.

Economy · 5 d ago

Hackers drain traders' wallets on Polymarket, pausing international trading

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A UK-based third-party vendor was breached, not Polymarket's website, the company said. UK law enforcement has been notified, and trading has resumed after a pause of several hours.

Economy · 5 d ago

US inflation accelerates in September, raising bets on a Fed rate hike

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The Fed's preferred PCE inflation measure reached 3.6 per cent in the 12 months to September, up from 3.4 per cent in August.

Economy · 5 d ago

Amazon's cloud arm grows 39 per cent, but AI spending outruns its cash

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Amazon Web Services revenue rose 39 per cent from a year earlier in the third quarter, its sixth straight quarter of faster growth.