Visa (NYSE:V) has apparently become a target for government scrutiny — the Justice Department is investigating the payment card giant for anticompetitive practices in the massive debit card segment. Justice’s antitrust unit is currently probing whether the company has restricted merchants accepting Visa transactions from conducting those transactions via other payment card networks. At times, […]
Saudi Aramco, the world’s largest oil and gas company, will present its 2020 financial results on Sunday, March 21st. Considering the turbulence and volatility of 2020, Aramco’s results may reveal some of the trends to watch over the next decade in the oil industry. The impact of COVID-19, immense demand destruction, high volatility in oil […]
One of the main reasons Federal Reserve officials don’t fear inflation these days is the belief that they have tools to deploy should it become a problem. Those tools, however, come with a cost, and can be deadly to the kinds of economic growth periods the U.S. is experiencing. Hiking interest rates is the most […]
Managers of foreign oil companies have been visiting Caracas recently to negotiate a possible return of international firms to Venezuela’s embattled oil industry after Nicolas Maduro began promising earlier this year he would end the monopoly of state oil firm PDVSA, Bloomberg reported on Friday, citing sources familiar with the talks. Venezuela is opening up […]
The hottest-selling electric vehicle on the planet isn’t the Tesla Model 3 anymore. It was toppled in January by a pint-sized Chinese model called the Hong Guang Mini EV, reports China Daily. Details: The four-seat city cars are flying out of showrooms thanks mostly to their irresistible starting price: $4,500, writes China auto expert Michael […]
Federal Reserve Chairman Jerome Powell reiterated his commitment to an “all-in” approach to the recovery, pledging in a commentary piece for The Wall Street Journal to keep policy loose. Noting the “much improved” economy, the central bank chief said American resolve and aggressive policy have combined to make the outlook ahead brighter. “But the recovery […]
The Bank of Japan slightly loosened its grip on long-term interest rates on Friday and laid the groundwork to taper its huge asset purchases, as part of steps to make its stimulus sustainable enough to weather a prolonged battle to fire up inflation. In a review of its policy tools announced after a two-day meeting, […]
Bill Gates is in favor of raising some taxes, but says some proposals seem to go too far. The government “has to do more — health costs, pandemic recovery, climate investments, foreign aid generosity,” the billionaire said Friday during an “Ask Me Anything” Q&A session on Reddit. “So I have pushed for some higher taxes. […]
FedEx on Thursday reported better-than-expected profits and revenues in its most recent quarter after what its CFO called an “unprecedented” peak holiday shipping season, despite severe weather in February that impaired operations at several of its largest hubs. FedEx shares jumped roughly 3% in after-hours trading Thursday. Here’s how FedEx did compared with what investors are […]
Ford Motor on Thursday said the global shortage of semiconductor chips and winter storms impacting the availability of other parts in the U.S. are causing it to cancel shifts at two plants and build F-150 pickups and Edge SUVs without certain parts. The automaker plans to complete building the F-150 and Edge models in “a […]
Global gasoline may have peaked, thanks to fuel efficiency gains and the growing popularity of electric vehicles, the International Energy Agency said in a new report, noting that these trends offset growth in mobility in emerging economies. The report, which looks at the next five years, also suggests peak oil demand may be near, thanks […]
Junior investment bankers at Goldman Sachs are suffering burnout from 100-hour work weeks and demanding bosses during a SPAC-fueled boom in deals, according to an internal survey done by a group of first-year analysts. The surge in activity has taken a serious toll on analysts’ mental and physical health since at least the start of […]
