U.S. first-time jobless claims jump to nine-month high
The numbers: Initial jobless claims rose by 22,000...
The numbers: Initial jobless claims rose by 22,000 to 231,000 in the week ended May 4, the Labor Department said Thursday. That’s the highest level since last August.
Economists polled by The Wall Street Journal had estimated new claims would rise to 214,000.
Last week claims rose a revised 1,000 to 209,000. That compared with the initial estimate of an unchanged reading at 208,000.
ExxonMobil’s Acquisition of Pioneer Natural Resources Finalized
ExxonMobil’s $64.5 billion buyout of Pioneer Natural Resources is a...
ExxonMobil’s $64.5 billion buyout of Pioneer Natural Resources is a done deal. Together, they operate on 1.4 million acres across the western Delaware and eastern Midland sub-basins.
The large acquisition, first announced in October last year, was finalized last week. The move constituted a marriage of two of the largest fossil fuel companies active in the Permian Basin.
Regulatory hold-up stalls offshore CO2 storage plans
The Biden administration's delay in creating a leasing and permitting...
The Biden administration's delay in creating a leasing and permitting system for storing sequestered carbon in federal waters, as mandated by the 2021 Bipartisan Infrastructure Law, has left the nearly a dozen proposed developments in limbo. During a recent Senate hearing, Interior Secretary Deb Haaland emphasized the complexity of regulating a novel applied technology and said a timeline for finalizing a draft rule was not yet available.
U.K. bond yields and the British pound slipped on Thursday as the Bank...
U.K. bond yields and the British pound slipped on Thursday as the Bank of England saw two voters prefer an interest-rate cut.
By a 7-to-2 decision, the Bank of England opted to hold interest rates at 5.25%.
External member Swati Dhingra, who voted last month for a cut, was joined by Dave Ramsden, deputy governor for markets and banking, in voting for a reduction.
Gilt yields and the pound fell after the decision.
Uber profits hit the brakes. Last year, Uber boasted...
Uber profits hit the brakes. Last year, Uber boasted its first full-year profit since going public. But yesterday, the company reported a surprise loss for the first quarter of 2024, dashing investors’ hopes for steady profits and sending its stock way down. The disappointing numbers suggested Uber’s growth has slowed and reflected the toll that constant legal battles with regulators are taking on the company’s finances. Meanwhile, Uber’s smaller rival Lyft appears to have its foot on the gas pedal. It posted better-than-expected quarterly results on Tuesday and saw a stock bump yesterday.
President Biden said the US will not supply Israel with offensive weapons if it launches a major assault on Rafah, a city in southern Gaza to which many Palestinians have fled during the war, but would continue to send defensive weapons.
Disney and Warner Bros. Discovery plan to offer a bundle of their streaming services: Hulu, Disney+, and Max. It's like cable, but you can watch it on a way smaller screen.
Shohei Ohtani’s former interpreter will plead guilty to bank and tax fraud in a case stemming from his sports betting scandal and will be required to repay the Dodgers star nearly $17 million, prosecutors say.
Neuralink said a part of its first implant in a human brain has malfunctioned, though the patient is still able to use the brain-computer interface system.
House Speaker Mike Johnson survived Marjorie Taylor Greene’s effort to oust him, in part by getting help from Democrats.
A record-breaking 30% of the world’s electricity was produced by renewables last year as wind and solar power got more popular.
