The Real News Network
HOUSTON (Reuters) – The number of oil company bankruptcies rose 50% in 2019 over the previous year, as a slide in prices continued to shake producers in the United States and Canada, Dallas law firm Haynes and Boone said in a report released on Wednesday. U.S. and Canadian oil and natural gas exploration and production […]
By David Shepardson (Reuters) – Prosecutors in Canada on Wednesday proposed a $196.5 million (CAD) ($149.5 million) fine against Volkswagen AG <VOWG_p.DE> after the company pleaded guilty to dozens of counts of diesel emissions violations, a company spokesman confirmed on Wednesday. Volkswagen was charged in December with importing nearly 128,000 vehicles into Canada violating emissions […]
WASHINGTON (Reuters) – Tesla Inc and the state of Michigan confirmed Wednesday they have resolved the company’s 2016 lawsuit challenging the state’s refusal to allow the company to sell vehicles directly to consumers. The Michigan Attorney General Dana Nessel’s office said a resolution filed in U.S. District Court recognizes “that any Michigan resident may lawfully buy a Tesla […]
By Laila Kearney NEW YORK (Reuters) – Real estate developer Hilco Redevelopment Partners has entered into a $240 million agreement to purchase the Philadelphia Energy Solutions (PES) oil refinery, which was the largest and oldest on the East Coast, according to court documents on Wednesday. Chicago-based Hilco submitted the winning bid, which includes an escrow […]
By Devika Krishna Kumar NEW YORK (Reuters) – Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries amid the outbreak of a virus in China outweighed concern over disruptions to Libya’s crude output. Brent crude <LCOc1> ended the session down $1.38, or […]
WASHINGTON (Reuters) – U.S. President Donald Trump vowed to rip up international trade deals and rebalance America’s global trade relationships. Three years into his presidency, he has done just that, using a slew of tariffs, threats, and bilateral talks to shake up relations with nearly every major U.S. trading partner. Graphic: United States top trade […]
MADRID (Reuters) – Spain’s new government on Wednesday announced a 5.5% rise in the minimum wage retroactive to Jan. 1, the third major economic initiative the left-wing coalition has announced since taking office this month. The government’s move is part of a plan to boost the net minimum wage to 60% of the average monthly […]
By David Shepardson and Tracy Rucinski WASHINGTON/CHICAGO (Reuters) – Boeing Chief Executive Dave Calhoun told reporters on Wednesday the U.S. planemaker expects to resume 737 MAX production months before its forecasted mid-year return to service and said it did not plan to suspend or cut its dividend. The company announced a production halt in December, […]
DAVOS, Switzerland (Reuters) – U.S. President Donald Trump on Wednesday threatened to impose high tariffs on imports of cars from the European Union if the bloc doesn’t agree to a trade deal. Trump has previously made threats to place duties on European automobile imports, with the intent of receiving better terms in the U.S.-Europe trade […]
By Laurence Frost and Conor Humphries DUBLIN (Reuters) – There is no alternative to the grounded 737 MAX and it would be “absolutely stupid” for Boeing <BA.N> to launch a replacement before the next wave of technology a decade from now, the head of one of the world’s top aircraft lessors said on Wednesday. Aengus […]