Category: Uncategorized

British oil giant BP posts $2.3 billion in third-quarter profit
Post

British oil giant BP posts $2.3 billion in third-quarter profit

British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024. Nurphoto | Nurphoto | Getty Images British oil major BP on Tuesday reported its weakest quarterly earnings in nearly four years, weighed down by a slump in crude prices and lower refining margins. The energy firm posted underlying replacement...

Oil slides over 4% as Israel’s attack on Iran unlikely to disrupt supplies
Post

Oil slides over 4% as Israel’s attack on Iran unlikely to disrupt supplies

View of Iran’s oil industry installations in Mahshahr, Khuzestan province, southern Iran. Kaveh Kazemi | Getty Images Oil prices will remain under pressure for the rest of this year, it may be difficult to see Brent crude oil prices reaching $80 in the foreseeable future. Andy Lipow president at Lipow Oil Associates “The recent Israel...

Trump ally Elon Musk was ‘illegal worker’ when he began U.S. career
Post

Trump ally Elon Musk was ‘illegal worker’ when he began U.S. career

President Joe Biden called out Tesla and SpaceX CEO Elon Musk, now a Republican megadonor and Trump campaign surrogate, for hypocrisy on immigration on Saturday, saying Musk launched his long career in the U.S. as an “illegal worker” before becoming the world’s wealthiest man. The president made these remarks at a campaign event to support...

Jeff Bezos killed Washington Post endorsement of Kamala Harris
Post

Jeff Bezos killed Washington Post endorsement of Kamala Harris

The Washington Post Building at One Franklin Square Building in Washington, D.C., June 5, 2024. Andrew Harnik | Getty Images The Washington Post said Friday that it will not endorse a candidate in the presidential election this year — or ever again — breaking decades of tradition and sparking immediate criticism of the decision. But...

Tesla (TSLA) Q3 2024 earnings report
Post

Tesla (TSLA) Q3 2024 earnings report

Tesla CEO and X owner Elon Musk speaks during an unveiling event for Tesla products in Los Angeles, California, U.S. October 10, 2024 Source: Tesla | Youtube Tesla reported third-quarter earnings Wednesday that topped analysts’ estimates even as revenue came in just shy of expectations. The stock popped 10.7% in premarket trading. Here’s what the...

Trump tariffs likely to lead to higher U.S. interest rates: IIF chief
Post

Trump tariffs likely to lead to higher U.S. interest rates: IIF chief

Extreme tariffs proposed by U.S. presidential candidate Donald Trump would interrupt the path of disinflation and could lead to higher interest rates, according to the head of the Institute of International Finance. “The assumption is you’ll have higher inflation, higher interest rates than you would have in the absence of those tariffs,” Tim Adams, president...

Hyundai Motor India shares drop 7% on trading debut
Post

Hyundai Motor India shares drop 7% on trading debut

MUMBAI, MAHARASHTRA, INDIA –  Hyundai cars seen parked outside the Hyundai showroom in Mumbai. Sopa Images | Lightrocket | Getty Images Hyundai Motor India shares fell nearly 7% on their trading debut Tuesday after a $3.3 billion initial public offering, the country’s largest-ever by amount raised. Shares were trading down at 1,830 rupees ($21.77) at...

Britain faces warnings of tech exodus over tax plans ahead of budget
Post

Britain faces warnings of tech exodus over tax plans ahead of budget

Britain’s Finance Minister Rachel Reeves has pledged to make the “necessary”, “urgent” and “incredibly tough” choices to restore the country’s economic stability. Pool | Getty Images News | Getty Images LONDON — British technology bosses and investors are warning that entrepreneurs may be forced to leave the U.K., if the government moves forward with controversial plans...

Boeing machinists to vote on new proposal that could end strike
Post

Boeing machinists to vote on new proposal that could end strike

People hold sings during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024. Jason Redmond | AFP | Getty Images Boeing and its machinists’ union have reached a new contract proposal, the union said Saturday, outlining  a deal that could...