WASHINGTON (Reuters) – The U.S. Congress on Thursday will open a year’s worth of investigations into whether Big Oil deceived Americans about its role in climate change, with Democratic lawmakers planning to grill the chiefs of four oil companies and two lobby groups.Slideshow ( 2 images )Environmental groups and their congressional allies hope the hearing evokes the Big Tobacco hearings […]

It’s an old term, so old that many younger investors may not even really know what it means. While the term “stagflation” was coined in the early 1960s, it is most often associated with the dreadful economic conditions that were in place in the 1970s. After the Arab oil embargo early in the decade, the U.S. economy experienced five negative […]

The broad markets pulled back from record levels on Wednesday afternoon. However, the Nasdaq was fairly higher on the day as a slew of strong-than-expected tech earnings have been driving the index. Oil prices pulled back but still remain within striking distance of all-time highs. Analysts seemed fairly sanguine on earnings after the fact. 24/7 Wall St. is reviewing some […]

FILE PHOTO: The City of London financial district is seen in London, Britain, October 22, 2021. REUTERS/Hannah McKayLONDON (Reuters) – Britain will lower its surcharge on banking profits from April 2023, the finance ministry said on Wednesday, as the government seeks to shore up London’s competitiveness as a global financial centre after Brexit. British Finance Minister Rishi Sunak said in […]

The number of new homes sold in the U.S. in September is due to come out at 10 a.m. ET on Tuesday. Economists polled by Dow Jones are expecting that home sales grew 760,000 in September, up from 740,000 in August. U.S. Treasury yields dipped on Tuesday morning, amid concerns about inflation and weaker economic growth. The yield on the […]

New York (CNN Business)Elon Musk is rapidly approaching a net worth of $300 billion, as Tesla’s market cap soars past $1 trillion. That’s enough to surpass one of his biggest rivals: ExxonMobil. As of Monday’s close, Musk’s net worth was $289 billion, according to the Bloomberg Billionaires Index, which surpasses the $272 billion market value of ExxonMobil (XOM), the company […]

FILE PHOTO: The GM logo is seen at the General Motors Warren Transmission Operations Plant in Warren, Michigan October 26, 2015. REUTERS/Rebecca CookDETROIT (Reuters) – General Motors Co’s electric commercial vehicle business, BrightDrop, will build out a dedicated dealer network to drive growth, the unit’s head said on Tuesday. While Travis Katz, BrightDrop’s chief executive, did not disclose how many […]

U.S. markets closed higher on Monday, with both the Dow Jones industrials and the S&P 500 setting intraday and closing highs. The enthusiasm for equities continued Tuesday morning, with all three major indexes trading higher in the premarket by at least 0.3%. Crude oil has risen above the $84 mark again, and 10-year Treasuries have eased by a couple of […]