U.S. industrial-production pickup in May is sharpest in 10 months
The numbers: U.S. Industrial production rose 0.9% in...
The numbers: U.S. Industrial production rose 0.9% in May, the Federal Reserve reported Tuesday. That is the biggest gain since last July.
The gain was above expectations of a 0.4% gain, according to a survey of economists by the Wall Street Journal.
Capacity utilization rose to 78.7% from 78.2% in the prior month. The capacity-utilization rate reflects the limits to operating the nation’s factories, mines, and utilities.
Pa. bill seeks to end road spread of drilling wastewater
The Pennsylvania House...
The Pennsylvania House is set to take up legislation to ban the use of drilling wastewater on roads, a practice that has continued in rural areas despite being halted in 2017. Penn State research has found this wastewater ineffective for dust control and harmful due to high salt and radioactive mineral content. Still, industry groups representing conventional drillers argue that the studies do not reflect real-world conditions.
According to the Texas Oil and Gas Association, Texas's oil and gas...
According to the Texas Oil and Gas Association, Texas's oil and gas industry has reached unprecedented production levels amid a record-breaking heat wave. In May, the state produced 5.7 million barrels of crude oil per day and 32 billion cubic feet of gas. This production surge has brought significant economic gains, with $56.8 billion in exports from January to March.
Permian Basin landowner LandBridge is set to raise up to $319 million in a US initial public offering, aiming for a valuation of up to $1.6 billion. Backed by Five Point Energy, the company leases 220,000 surface acres to oil and gas producers and sells extracted resources.
Netanyahu dissolved Israel’s war Cabinet. Israeli...
Netanyahu dissolved Israel’s war Cabinet. Israeli Prime Minister Benjamin Netanyahu made the decision after two of the five members of the Cabinet, assembled during the war in Gaza’s early days, quit recently over his handling of the war. The move was largely expected after Netanyahu’s rival, centrist politician Benny Gantz, left the Cabinet. Netanyahu now plans to turn to the larger security Cabinet about strategy, while still considering sensitive matters with smaller groups. The change potentially gives right-wing nationalist politicians, who oppose a cease-fire, a greater voice as Israel continues cease-fire negotiations with Hamas and tries to avoid a growing conflict with Hezbollah on the Lebanese border
The Boston Celtics beat the Dallas Mavericks in Game 5 to win a record-setting 18th NBA title. That’s one more than their longtime rival, the Los Angeles Lakers.
Wells Fargo is losing $10 million per month on its partnership with Bilt, whose credit card offers users reward points for paying rent, and is looking to renegotiate, the WSJ reports.
Apple has stopped offering its buy now, pay later program, Apple Pay Later, after partnering with outside companies, including Affirm.
The governor of Maryland pardoned 175,000+ marijuana convictions as restrictions on cannabis ease around the country.
Scooter Braun, known for discovering Justin Bieber and feuding with Taylor Swift, said he’s no longer working as a music manager and is focusing on his CEO role at Hybe America and spending time with his family. His statement came nearly a year after rumors swirled of high-profile clients moving on.
