Oil prices soared after a coordinated attack hit the heart of Saudi Arabia’s oil industry on Saturday, forcing the kingdom to cut its oil output in half. Brent crude futures, the international benchmark, rose as much as 19.5% to $71.95 per barrel at the open, the biggest intraday jump on record. By 9:43 a.m. ET, […] Read more
If you’re tuning in to the next Democratic primary debate on Thursday, consider keeping your political views out of the office. Close to 40% of workers say they engage in political discussions at work, according to data from Monster.com. The job hunting website polled 1,650 people on the issue via email from Aug. 20 through […] Read more
Time is running out for European carmakers, which have waited until the last minute to try to meet ambitious EU emissions targets and face billions in fines if they fail to comply. Manufacturers from PSA Group to Volkswagen will use this week’s Frankfurt auto show to reveal the new models and strategies they hope can […] Read more
The U.S. trade deficit narrowed less than expected in July as the trade war between the United States and China drags on. The Bureau of Economic Analysis (BEA) said Wednesday the U.S. international trade deficit came in at $54 billion for July. Economists polled by Dow Jones expected the deficit to narrow to $53.48 billion. […] Read more
A judge in the U.S. state of Oklahoma ruled that Johnson & Johnson has to pay damages of $572 million (€515 million) to abate the opioid epidemic in the state. The lawsuit alleged that the company’s marketing practices helped to fuel the opioid crisis in the state. Oklahoma Judge Thad Balkman of Cleveland County District […] Read more
China’s state media put up a brave front after the country’s trade war with the U.S. escalated sharply over the weekend. The latest round of the dispute kicked off on Friday evening in Beijing when China’s Ministry of Finance announced it will apply new tariffs of between 5% and 10% on $75 billion worth of […] Read more
Looking for reasons to be optimistic about the U.S. economy? Try the aisles of Target. Target’s stock soared more than 20% to a record $103 a share on Wednesday after the retailer reported a 17% jump in second-quarter profit, higher sales and a sunnier full-year outlook as its big investments in same-day delivery and in-store […] Read more
The United States has more to lose from a full-blown trade war with the EU than it does with its current conflict with China, experts have told CNBC. President Donald Trump has kept up his tough rhetoric against the European Union despite focusing on Chinese tariffs in recent months. But his administration is due to […] Read more
Iran is moving to dramatically devalue its currency amid climbing inflation for the country gripped by punitive U.S. sanctions. Iranian President Hassan Rouhani sent a bill to Parliament Wednesday that would slash four zeroes from the rial, which has reportedly lost some 60% of its value since President Donald Trump withdrew from the Iranian nuclear […] Read more
US President Donald Trump has said he has approved the proposed deal to sell 66 Lockheed Martin F-16V fighter jets to Taiwan – a move set to significantly boost the self-ruled island’s defences against mainland China. Taiwan’s defence ministry welcomed Trump’s announcement, saying that it would help to maintain security in the Taiwan Strait and […] Read more
