Increasing demand in the conditions of tightening supply will cause a significant surge of oil prices by the end of 2023 according to the UBS analysts. The investment bank sent out a note to clients this week, warning that Brent crude will go from its current price of $90 per...
ExxonMobil, one of the largest publicly traded oil and gas companies in the world, is looking to expand its energy empire. According to a recent report by Bloomberg, ExxonMobil is exploring the possibility of acquiring Plano, Texas-based oil producer Denbury. Reportedly, ExxonMobil has already entered the talks with Denbury, but...
In recent weeks and months, prices have been soaring across the retail industry. However, don't expect Costco to jump on the bandwagon. At least not in terms of their membership fees and not right away. In the past, Costco's membership saw a price hike every five-and-a-half years on average. The...
The impact of surging inflation in the U.S., which recently hit a 40-year high, is now being felt in the retail sector. Retail giants like Walmart and Target have reported earnings misses this week and saw their stock plunge. Walmart reported revenue of $141.57 billion for the first quarter of...
U.S. President Joe Biden confirmed on Thursday that his administration is looking into forgiving some of the federal student debt in the near future. Biden said he is "taking a hard look" into this possibility but added that more information on the matter would be known in the coming...
The stock of sports betting and daily fantasy sports provider DraftKings continued its free fall this week, prompting its CEO Jason Robins to speak out publicly about the issue. Robins addressed the plummeting stock on Twitter, writing that the investors who sold their DKNG stock will "regret that decision." "If...
The surging inflation didn't make a significant mark on the spending power of Americans as predicted. On the contrary, according to a report by Commerce Department, the retail sales went up in January by 3.8 percent after a 2.5 percent dive in December. The data shows that the total spending...
Nvidia's plans to acquire chip designer Arm from Softbank are officially off the table. The news was confirmed by both companies via press release on Tuesday. Nvidia previously agreed to purchase Arm for $40 billion in cash and stocks back in late 2020. The news caused Nvidia's stocks to soar,...
Technology conglomerate Alphabet, the parent company of Google and multiple former Google subsidiaries, released its quarterly earnings statement on Tuesday and revealed some big news in the process. Aside from reporting a 36 percent increase in profit in the last three months of 2021, the company also unveiled plans...
The Turkish lira bounced back on Tuesday after losing around 60 percent of its value against the U.S. dollar and hitting historic lows earlier this month. The recovery of the currency began shortly after Turkey's President Recep Tayyip Erdogan announced plans to protect deposits in the lira against future...