Economy Archives - Page 26 of 58

Biden Releases More Oil after OPEC Slashes Output

The Biden administration has moved to release more domestic oil after the Saudi Arabia-led Organization of the Petroleum Exporting Countries (OPEC) and its allies surprised global energy markets on Wednesday by agreeing to slash crude production by 2 million barrels per day (BPD). The oil cartel thought it was necessary…

Louisiana Pulls Treasury Funds from BlackRock, Warns ESG Investing Threatens ‘Economic Freedom and Individual Liberty’

The state of Louisiana is divesting its treasury funds from Larry Fink's investment company BlackRock. Louisiana's Republican state treasurer John Schroder issued a warning that BlackRock's "woke" Environmental, Social, and Corporate Governance (ESG) investing threatens Americans' "economic freedom and individual liberty." In a letter to World Economic Forum member Fink, BlackRock's…

$453 Billion in Value Wiped from New York Offices Due to Remote Work

An estimated $453 billion in value has been wiped from offices in New York City due, in part, to the rise of remote work, a new study has found. The hit was discovered during a study by the National Bureau of Economic Research (NBER) which was conducted by researchers at…

Tesla Shares Dip as Vehicle Deliveries Fall Short in Q3

Tesla shares have fallen on news that the electric automaker failed to meet its target for vehicle deliveries in the third quarter. Deliveries of Tesla vehicles fell short despite setting a new record. Tesla revealed the figures in a report published by the company over the weekend. The electric vehicle…

Russia Suspends Gas Flow to Italy, Blames ‘Regulatory Changes’ in Austria

Russia has cut off its supply of gas to Italy, blaming "regulatory changes" in Austria for the suspension. Russian government-controlled energy giant Gazprom held up gas supplies to Italy last weekend. According to Eni, Italy’s largest energy firm, Russia is citing a transportation issue in Austria for the cut-off. Gazprom…

Gas Prices Continue to Climb on Higher Demand, Tighter Supply

Gas prices have risen for ten days in a row across the United States amid heightened demand and a tighter supply. Gas prices have spiked to over $6 a gallon in California. The price of gas has been rising since September 21, after less than 100 days of declines during…

Elon Musk & Jack Dorsey’s Private Text Messages Expose Rationale behind Twitter Takeover

The private text messages between Elon Musk and other key figures related to his Twitter takeover effort have exposed the rationale behind the billionaire's bid to buy the company. The messages were revealed in a new court filing (pdf) in Musk's lawsuit battle with Twitter. In the weeks leading up…

Toyota CEO: California’s Ban on Gas-Powered Cars ‘Difficult’ to Meet

Japanese automaker Toyota’s CEO and President Akio Toyoda has warned that California's ban on gas-powered vehicles by 2035 is a "difficult" target to meet. It may take longer for battery-electric cars (BEVs) to become mainstream than lawmakers in The Golden State believe, Toyoda said. He cited the impact of BEVs…

Trump-Voting Areas Recouping Pandemic Job Losses Faster Than Biden-Voting Areas, Study Shows

Ares of the United States that had a higher number of votes for President Donald Trump over Joe Biden in the 2020 election have recouped more jobs lost during the pandemic that Biden-voting parts of the country, a new study has found. Trump voting counties across the U.S. quickly recouped…

Bernie Sanders: Democrats Must Admit Americans Are in ‘Rough Shape,’ ‘Wages Not Keeping up with Inflation’

Sen. Bernie Sanders (I-VT) has highlighted the declining state of the economy under President Joe Biden and warned Democrats they must admit that Americans are in "rough shape." On Monday, Sanders said he does not believe the passage of the Inflation Reduction Act is enough of an achievement to help…