Business Archives - Page 20 of 45

Gas Prices Continue to Rise, Diesel Back Above $5 as ‘Ugly Inflation’ Returns

Gas prices are on the rise again in the United States as “ugly” inflation returns. While gas prices are rising, diesel is now back up over $5. The hikes come after months of volatility and are expected to increase further over the next few weeks, industry experts have said. In…

South Africa May Start Taking Land from White Farmers without Compensation

South Africa may start confiscating land from white farmers without giving them compensation, according to reports. South Africa’s National Assembly passed a bill on September 28 that would allow the government to seize land without paying the owners. The practice is known as "expropriation without compensation." “This thing is emotional.…

IMF Chief Warns World Heading Toward ‘Dangerous New Normal’

The head of the International Monetary Fund (IMF) has warned that the world is heading toward a "dangerous new normal." Kristalina Georgieva, managing director of the IMF, warns that the world is facing the risk of a recession, with the global economy experiencing a “fundamental shift." Georgieva made the comments…

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…

$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…