Business

Chevron to acquire Hess in $53 billion deal

Chevron Corporation announced Monday that it has reached an agreement to acquire competitor Hess Corporation in an all-stock deal valued at $53 billion. The energy company says the acquisition "upgrades and diversifies Chevron’s already advantaged portfolio.""The Stabroek block in Guyana is an extraordinary asset with industry leading cash margins and...

Starbucks sues union amid backlash to union’s pro-Palestine tweet

Coffee giant Starbucks filed a lawsuit against the union calling itself Starbucks Workers United over the improper use of the company’s intellectual property in the wake of the union’s controversial pro-Palestine post.Following Hamas’ terror attack against Israel on October 7, Starbucks Workers United published a since-deleted post on X, that said, "Solidarity with...

US housing market: Expert says ‘all hope is not lost’ for potential homebuyers

The U.S. housing market continues to pose significant challenges, but a recent report from real estate brokerage Redfin argues that there's still hope for potential buyers.Although mortgage rates – which rose for the fifth consecutive week on Thursday – are expected to remain elevated, buyers who decide to jump into the market may...

JPMorgan CEO Jamie Dimon warns: ‘This may be the most dangerous time the world has seen in decades’

JPMorgan Chase CEO Jamie Dimon kicked off bank earnings season on Friday with a stark warning about the perils facing the world today.The war in Ukraine, along with the unprecedented attacks in Israel by Palestinian militant group Hamas last weekend, may have "far-reaching impacts on energy and food markets, global trade and geopolitical...

Los Angeles workers set to go on 24-hour strike starting Tuesday

Los Angeles city workers are planning to go on strike for 24 hours starting Tuesday, joining thousands of others who are pushing for better wages and benefits. The strike, organized by SEIU Local 721, will include more than 11,000 workers in sanitation, mechanics and engineering. The workers are expected to picket in front of...

Bud Light ‘prioritized left-wing ideology,’ says CEO trying to get jobs for brand’s laid-off workers

Former Bud Light workers are taking two conservative organizations, Public Sq. and RedBalloon, up on their offers to help find them new employment after being laid off. "We hope that this results in more and more positive actions that hopefully send a strong counteracting message to the actions of Bud Light over the past...

Saudi Arabia to extend oil production cuts through September, signaling potential rise in US gas prices

Saudi Arabia says it is extending oil production cuts through September in a move that could potentially increase gas prices in the U.S. The kingdom will extend the "voluntary cut" of 1 million barrels a day, totaling approximately 9 million barrels per day for the month of September, according to a statement from the...

Gas prices are on the rise. Here’s why

Gas prices are on the rise as high temperatures hamper refinery production and demand remains elevated.Prices are still well under where they were a year ago. However, the national average price for a gallon of regular gasoline hovered at $3.82 on Thursday, up 11 cents from a week ago and up nearly 30 cents...

Wall Street’s still worried despite Friday’s fakeout

Stocks saw a comeback on Friday after four consecutive days of declines. But there are several key signs that show the market is far from shedding its worries.The Dow surged about 547 points on Friday, marking its biggest one-day gain since early January. The S&P 500 rose 1.8% and the Nasdaq Composite gained...

Jobs report: Who’s hiring and who’s firing?

All signs were pointing to a cooling labor market. Instead,the latest jobs report showed the unemployment rate fell to 3.4% in April after 253,000 jobs were added last month.But hiring isn’t strong across the board, and is concentrated in a handful of industries.“Employers continue to hire for in-demand skills while...

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