Oil giant Royal Dutch Shell announced Monday a deal to sell the entirety of its Permian Basin assets to ConocoPhillips. ConocoPhillips is purchasing the West Texas business for $9.5 billion in cash, the companies said in a release release. The assets span roughly 225,000 net acres with current production about […]
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Democrats will put a debt limit suspension in bill that aims to prevent a government shutdown
Democratic congressional leaders on Monday said they will try to pass a bill that both prevents a government shutdown and suspends the U.S. debt limit as they try to dodge two possible crises in one swoop. Congress faces a Sept. 30 deadline to fund the federal government. Separately, Treasury Secretary […]
Banks consider climate risk for home loans, a process called ‘underwaterwriting’ or ‘blue-lining’
Climate catastrophes are poised to destroy American homes, and banks are starting to calculate their risks. Jesse Kennan, associate professor of real estate at Tulane University, refers to this process as “underwaterwriting” or “blue-lining,” depending on whether you’re looking at it from the point of view of the bank or […]
Facebook is playing defense after scathing reports on the company’s failure to protect users
Facebook Chief Executive Officer and founder, Mark Zuckerberg, leaving the Merrion Hotel in Dublin after meeting with Irish politicians to discuss regulation of social media, transparrency in political advertising and the safety of young people and vulnerable adults. On Tuesday, April 2, 2019, in Dublin, Ireland. Artur Widak | NurPhoto […]
S&P 500 falls 1.7% for its worst day since May, Dow sheds 600 points
U.S. stocks began the week deeply in the red as investors continued to flock to the sidelines in September amid several emerging risks for the market. The S&P 500 fell 1.7% to 4,357.73, posting its worst daily performance since May 12. It was a broad sell-off with each of the […]
Covid is officially America’s deadliest pandemic as U.S. fatalities surpass 1918 flu estimates
A woman and child walk through a field of white flags on the Mall near the Washington Monument in Washington, DC on September 16, 2021. Mandel Ngan | AFP | Getty Images Covid-19 is officially the most deadly outbreak in recent American history, surpassing the estimated U.S. fatalities from the […]
Washington gridlock and a debt-ceiling showdown are weighing on the market
U.S. Senate Majority Leader Chuck Schumer (D-NY) talks with Speaker of the House Nancy Pelosi (D-CA) on the steps of the U.S. Capitol. Drew Angerer | Getty Images The U.S. stock market is on track to post its worst day in months. And U.S. politics are in part to blame. […]
GM to begin fixing Chevy Bolt EVs, recalled due to fire risk, as soon as next month
A 2019 Chevrolet Bolt EV caught fire at a home in Cherokee County, Georgia on Sept. 13, 2021, according to the local fire department. Cherokee County Fire Department DETROIT — General Motors announced Monday that it expects to begin replacing battery modules in Chevrolet Bolt EVs, which were recalled due […]
Dow tumbles 900 points in Monday market rout, S&P 500 now 5% off record high
U.S. stocks began the week deeply in the red as investors continued to flock to the sidelines in September amid several emerging risks for the market. The Dow Jones Industrial average lost 900 points, or 2.6%, set for its biggest one day drop since October 28 2020. The S&P 500 […]
GM to begin fixing recalled Chevy Bolt EVs next month due to fire risks
A 2019 Chevrolet Bolt EV caught fire at a home in Cherokee County, Georgia on Sept. 13, 2021, according to the local fire department. Cherokee County Fire Department DETROIT – General Motors expects to begin replacing battery modules in recalled Chevrolet Bolt EVs due to fire risks as soon as […]