The three biggest international oilfield services firms remain in Russia, not following nearly all Western oil majors that have said in recent weeks they would quit their Russian joint ventures and projects and would quit trading Russian oil. While BP, Shell, and ExxonMobil raced to announce they are withdrawing from all their operations and stakes […]
Volkswagen recalled 246,000 Atlas and Atlas Cross Sport SUVs in the U.S. and Canada because of a wiring issue that could cause problems with the airbags, windows and brakes of the cars. Damage to the wiring of the cars could result in airbags deploying “later than designed,” which could lead to injury of people in […]
General Motors is expanding its ownership stake in self-driving car subsidiary Cruise. The automaker said late Friday that is is acquiring Softbank Vision Fund 1’s equity ownership in Cruise for $2.1 billion. GM is also making an additional $1.35 billion investment in Cruise, replacing a previous commitment made by the fund in 2018. The announcement […]
A large number of U.S. consumers will have their medical debt wiped from their credit reports, the nation’s largest credit reporting agencies announced Friday. Equifax, Experian and TransUnion said in a joint statement they would remove nearly 70% of medical collection debt accounts from consumer credit reports after conducting months of market research. The changes […]
Speed limits on highways should be cut by at least 10 kilometers per hour (6.2 mph) to help lower oil demand, the International Energy Agency said Friday. The recommendation is part of a wider 10-point plan published by the Paris-based organization. “We estimate that the full implementation of these measures in advanced economies alone can […]
DETROIT – General Motors is acquiring SoftBank’s equity ownership stake in its majority-owned Cruise autonomous vehicle unit for $2.1 billion, the automaker announced Friday afternoon. SoftBank Vision Fund 1 first acquired a minority ownership in Cruise through a $2.25 billion deal in 2018. Its exit comes as the prominent technology investment firm was set to […]
War. Inflation. And now, Covid lockdown deja vu in China. It is a perfect storm for the global supply chain – how goods and materials get from other countries to you and me. When disruptions take place in China, it is significant because about a third of the world’s entire manufacturing capacity is based in […]
Oil prices moved into the final trading day of the week extending a rally. It marks the third volatile week of trade as there was slim progress in peace talks between Russia and Ukraine. This volatility is raising concerns about a prolonged disruption to oil supply, according to Reuters. U.S. West Texas Intermediate (WTI) crude […]
The nation’s largest private employer announced plans to hire tens of thousands of workers before the end of the quarter to help expand its business amid a tightening labor market. Walmart announced Wednesday a plan to hire more than 50,000 workers in the U.S. by the end of April, the time of year when many […]
Oil prices jumped by 7% early on Thursday, after the International Energy Agency (IEA) warned on Wednesday that the market could lose 3 million barrels per day (bpd) of Russian oil supply starting next month. As of 10:00 a.m. ET on Thursday, WTI Crude was up above $100 per barrel again, following three consecutive days […]
Netflix will soon test charging primary account holders extra fees for password-sharing with people outside their household. After years of ignoring the issue, Netflix ran a test last year in which it blocked password-sharing for anyone who didn’t live with the account owner. Now, Netflix will let members share their accounts outside immediate households, but […]
Following the Federal Reserve’s widely expected interest rate hike Wednesday, the housing market will likely see an impact in the form of higher mortgage rates. Though mortgage rates do not follow the federal funds rate, they do typically follow the yield on the 10-year Treasury. Following the Fed’s announcement, the 10-year Treasury yield spiked as […]
