Occidental Petroleum on Monday agreed to buy CrownRock, a major privately held energy producer that operates in the Permian Basin, for $12 billion. The deal is latest in a spate of consolidation in the U.S .energy sector, particularly in the Permian, the largest oil-producing region in the U.S. The transaction is expected to close in … Read more
C.E.O. of Tesla, Chief Engineer of SpaceX and C.T.O. of X Elon Musk takes the stage during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty Images Tesla‘s troubles with labor unions in Scandinavia deepened as it lost legal action against Sweden’s postal service … Read more
Travelers wait in line to check in for their flights at a Delta Airlines ticket counter at Orlando International Airport during the busy Christmas holiday season on December 28, 2022 in Orlando, Florida. Paul Hennessy | Anadolu Agency | Getty Images Airlines expect record travel demand this Thanksgiving. Executives say they’re prepared for the hordes. … Read more
The Boeing 787 Dreamliner sits on the tarmac at Boeing Field in Seattle, Washington. Robert Sorbo | Reuters Boeing on Thursday handed over a 787 Dreamliner directly to a Chinese airline for the first time since November 2019, a milestone that could open up the possibility of deliveries of the manufacturer’s cash cow, the 737 … Read more
POLAND – 2023/08/01: In this photo illustration, a Coinbase logo displayed on a smartphone with stock server lights in the background. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Cryptocurrency exchange Coinbase secured registration with the French markets regulator, a company spokesperson confirmed Thursday, paving the way … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on December 13, 2023 in New York City. Michael M. Santiago | Getty Images After nine straight sessions of gains, Wall Street suddenly took a turn around an hour and a half before the closing bell on Wednesday, leading the S&P … Read more
Your Hometown Deli in Paulsboro, N.J. Google Earth A North Carolina ex-convict pleaded guilty to securities fraud in connection with conspiring to manipulate the stock of a company that once had a market capitalization of as high as $100 million despite owning just one, small money-losing deli in southern New Jersey. The man, disgraced former … Read more
Some Eli Lilly investors appear concerned about clinical trial data that showed patients regained weight after they stopped taking the company’s obesity drug Zepbound. The situation seems rather clear-cut to us: It’s no reason to sell. Eli Lilly shares on Tuesday shook off afternoon losses to close higher by 0.12%, at $584.76 each — a … Read more
Ikea warned of delays on some products due to the mass diversion of shipping containers from the Red Sea over safety concerns. “The situation in the Suez Canal will result in delays and may cause availability constraints for certain IKEA products,” a spokesperson said by email Thursday. They added that the safety of staff working … Read more
The U.K. and Switzerland are deepening the ties between their financial services sectors with a new post-Brexit deal. Sopa Images | Lightrocket | Getty Images LONDON — The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe’s largest banking centers closer together. British Finance Minister Jeremy … Read more
