Written by Nonco Trading Desk
Home Depot projects weakened sales, spelling shaky economic conditions
High interest rates and inflation push home improvement projects back
Talen focused on data center demand as it considers axing crypto business
NEW YORK (Reuters) -Talen Energy is focused on capturing surging demand from data center developers as the independent power company looks to pivot away from its crypto mining operation, company executives said on Tuesday. Talen is among a group of U.S. electric companies benefiting from the power needs of artificial intelligence and cloud computing data centers, with shares of Talen up nearly 100% since the start of the year. "It's not a strategic asset for us and we are looking at... other alternatives," Talen Energy Chief Executive Officer Mark McFarland said of the crypto mining business on a second-quarter earnings call.
Fed’s Bostic Says More Data Needed, Rate Cut Likely by Year-End
(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said he’s looking for “a little more data” before supporting a reduction in interest rates, emphasizing he wants to be sure the US central bank will not have to change course once it begins cutting.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestJohannesburg Mayor Quits Amid Infighting, Financial WoesHow Chicago’s Gigantic Merc