OPEC+'s decision to slash oil production has set off bipartisan fury in Washington directed at the Saudi Arabia-led group, raising calls for a hard-hitting US response.Within minutes of the OPEC+ announcement, the White House warned it will "consult with Congress…
To many economists and analysts, the US economy has represented a paradox this year. On the one hand, GDP growth has slowed significantly, and some argue, even entered a recession. On the other hand, overall employment growth has been much…
The UK government could award oil and gas companies more than 100 new licenses to drill in the North Sea, as it looks for ways to bolster energy security amid a global supply crunch.Launched Friday, the licensing round won't lead…
The fever hasn't broken yet for America's employment market, but the temperature is coming down.The economy added 263,000 jobs in September, the Bureau of Labor Statistics reported Friday, slightly more than economists had estimated.While still robust, the headline number marks the second consecutive month of…
The White House isn't very happy with OPEC's decision to slash oil production by 2 million barrels per day. Consumers won't be big fans either, as the move will likely send gas prices higher.But there's one big winner coming out…
Credit Suisse said it will buy back up to $3 billion in its own bonds to save money on debt servicing costs while taking advantage of low prices.The announcement on Friday comes after investors displayed concerns about the financial position…
Hong Kong's flagship airline Cathay Pacific is facing "unprecedented" staff shortages and may not be ready to handle a surge in demand, as the city winds up its strict Covid policy and reopens for international travel. A top local union…
Nationwide protests have gripped Iran for weeks following the death of 22-year-old Mahsa Amini after she was taken into custody by the government's morality police for apparently not wearing her hijab properly. Her death has sparked violent clashes between demonstrators…
Former US Treasury Secretary Larry Summers said Thursday it's "more likely than not" the US will enter a recession, calling it a consequence of the "excesses the economy has been through.""Historical experience suggests that the kind of inflation we have…
Republican Sen. Chuck Grassley on Thursday called for punishing OPEC for its production cut by passing legislation that would hold foreign oil producers accountable for colluding to fix prices.Grassley, a longtime backer of so-called NOPEC legislation, announced in a statement…
Netflix is going to the movies, but only for a week."Glass Onion: A Knives Out Mystery," the new whodunit starring Daniel Craig, will debut at the three major US theater chains — AMC, Regal and Cinemark — for a week…
The global economic outlook is darkening and the risks of recession are quickly rising: That's the latest message from the International Monetary Fund, which said Thursday it will once again lower its growth projections."We estimate that countries accounting for about…
Last June, Toyota warned owners of its first mainstream electric vehicle, the BZ4X, to stop driving their SUVs and have them transported to dealers because of a scary problem: the wheels could fall off after driving even just a few…
The midterm elections are a little more than a month away, and if Wall Street had a vote, it'd be for more gridlock.Just a few months ago, many political observers and Wall Street experts were predicting that the GOP would…
Ford is again raising prices on the F-150 Lightning electric pickup, but the price increase will impact only the base model. The truck has only been in production since late April and prices were already raised once in early August.When…
After rising for six weeks in a row, mortgage rates retreated last week.The 30-year fixed-rate mortgage averaged 6.66% in the week ending October 5, down from 6.70% the week before, according to Freddie Mac.Mortgage rates have more than doubled since…
Tyson Foods is the latest company closing its Chicago-area offices, joining Boeing, Caterpillar and Citadel among others.The poultry producer said Wednesday that it's bringing together its corporate employees at its global headquarters in Arkansas, resulting in the closure of three…
When the Bureau of Labor Statistics releases its latest monthly jobs report on Friday, all eyes will be on whether the labor market is showing signs of loosening up -- one of many crucial factors that will help the Federal…
Peloton is undergoing another round of layoffs — its fourth this year — with about 500 jobs being eliminated, as the troubled exercise company looks to cut costs to improve its bottom line.The company said in a statement that a…
Investors are tightening their neck braces as US stocks soar upwards, plummet back down and then do it all over. Stock market volatility is at its bumpiest level since July.The whiplash-inducing ride comes as conflicting data paints a cloudy picture…
Changing America's fleet of trucks and buses to run on electricity while, at the same time, changing the nation's power grid to renewable fuels could prevent 67,000 premature deaths by 2050, according to a report from the American Lung Association.Trucks…
Even before Wednesday's action by OPEC+ to cut oil production, US gas prices were on their way up. More price increases at the pump likely lay ahead.Gas prices rose nearly 3 cents a gallon in AAA's daily reading Wednesday, to…
Maybe that October market rally has some legs after all?Stocks were mostly unchanged Wednesday, even as a fresh batch of economic data revealed continued strength in the job market and America's services sector. That's led to new worries that the…
Shia LaBeouf says that he has discovered Catholicism after a dark period in his life.The actor, who was raised with both Jewish and Christian traditions, sat down with Bishop Robert Barron of the Word on Fire Catholic Ministries to talk…
