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HOUSTON (Reuters) -Oil prices settled higher on Wednesday after U.S. crude inventories fell and the U.S. Federal Reserve cut interest rates as expected, but gains were capped as the Fed signalled it would slow the pace of cuts. U.S. crude stocks and distillate inventories fell while gasoline inventories rose in the week ending Dec. 13, the Energy Information Administration said on Wednesday. "The market seems to have turned a corner from all the negativity we saw a couple weeks ago as there is more optimism about demand," said Phil Flynn, a senior analyst for Price Futures Group.

OPEC+ is wary of a renewed rise in U.S. oil output when Donald Trump returns to the White House, delegates from the group said, because more U.S. oil would further erode OPEC+ market share and hamper the producer group's efforts to support prices. OPEC+ pumps about half of the world's oil and earlier this month delayed a plan to raise output until April.

(Bloomberg) -- Advanced Micro-Fabrication Equipment Inc. has been removed from the US Department of Defense’s list of Chinese military companies, doing away with what the firm described as an “irrational” designation.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe producer of chipmaking equipment was placed on the Pentagon’s blacklist, which doesn’t carry specific sanctions but tends to discourage US firms from trading with named entities, in January an

Salesforce has closed more than 1,000 paid deals for "Agentforce," its platform for creating virtual representatives powered by artificial intelligence, its CEO Marc Benioff said on Tuesday. At a company event in San Francisco, Salesforce previewed improvements for how businesses could build bots for recruiting, customer service and other specific tasks on its platform and in its messaging app Slack. Salesforce has done as much for its own operations, said Benioff.

(Bloomberg) -- Databricks Inc. is raising $10 billion in new funding, a massive cash injection that will bring the software maker’s valuation to $62 billion.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe startup, which is among the world’s most highly valued closely held companies, “intends to invest this capital towards new AI products, acquisitions, and significant expansion of its international go-to-market operations,” according to a statement rele

(Bloomberg) -- A young company created by chance is trying to transform urban transportation in the world’s most populous region.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousHarvard graduate students Nicole Mao, 33, and Yiwei Zhu, 32, have been building one of Bangladesh’s hottest startups for three years after getting stuck in the country during the pandemic. Their battery-swapping network for electric rickshaws is surging in popularity and will reach 1

(Bloomberg) -- Japanese gaming stocks are emerging as unlikely winners from Donald Trump’s election, as tech investors seek less exposure to trade uncertainties swirling around China-dependent chipmaking gear companies.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousShares of console and software makers like Sony Group Corp., Nintendo Co. and Capcom Co. have seen double-digit returns since Trump won the US presidential vote in early November, outperforming

The U.S. Department of Energy said on Tuesday it had offered a conditional loan of up to $15 billion to California-based electric utility PG&E to support climate resilience projects and strengthen the power grid. President Joe Biden's administration is rushing to push out billions of dollars in financing from the Loan Programs Office, or LPO, which faces uncertainty under President-elect Donald Trump, who takes office on Jan. 20. "Investments in a clean and resilient grid for northern and central California will have significant returns for our customers in safety, reliability and economic growth," PG&E CEO Patti Poppe said in a statement.

French satellite company Eutelsat has chosen aerospace giant Airbus to build 100 small satellites for its OneWeb constellation extension, with deliveries to begin around the end of 2026. OneWeb is a European constellation of low Earth orbit (LEO) communications satellites acquired by Eutelsat in 2023 to rival the likes of Elon Musk-owned SpaceX's Starlink and Amazon's Project Kuiper. Airbus has so far built built 648 small satellites for OneWeb.

The U.S. watchdog agency for consumer finance on Tuesday finalized new regulations it said would protect home improvement borrowers who finance solar panels and other purchases through their property taxes, the agency said. The announcement from the U.S. Consumer Financial Protection Bureau came amid continued Republican demands from Capitol Hill that President Joe Biden's administration cease adopting new regulations prior to President-elect Donald Trump's inauguration next month. "Today's rule stops unscrupulous companies and salespeople from luring homeowners into unaffordable loans based on false promises of energy savings," said CFPB Director Rohit Chopra.