The British pound rose 0.15% against the U.S. dollar to $1.2624 on Monday, pushing the currency toward a three-month high. This comes after UK Prime Minister Rishi Sunak announced a flurry of foreign investments into the nation ahead of a gathering of business leaders.
Since the start of the...
U.S. producer prices rose in September by more than expected on the back of surging energy costs. The producer price index (PPI) rose by 0.5% last month, following a 0.7% rise during the previous month.
September's PPI rise exceeded the 0.3% gain expected by analysts. Throughout the 12 months leading...
General Motors confirmed on Thursday its intention to market its all-electric Cadillac vehicles in Switzerland as well as other European countries. This marks the company's return to the European market after selling the Opal and Vauxhall brands in 2017.
Jaclyn McQuaid, GM's European market head explained that direct-to-consumer sales of the...
Oil futures surged to a new high for 2023 after inventory levels at the largest U.S. storage hub plummeted toward operational minimums. West Texas Intermediate surged by over 3% to reach a new height of $93.68 per barrel on Wednesday before advancing to $94.43 on Thursday.
Brent international futures were...
China is stepping up its efforts to limit the use of foreign technology in the country, and Apple is among the first companies to feel the effects. The country issued a ban on iPhones in government agencies and state companies, causing Apple shares to slip 3.9% in pre-market trading...
EV maker Tesla announced that its Chief Financial Officer Zachary Kirkhorn will be stepping down from his position. Kirkhorn spent 13 years with the company and has served as Tesla’s CFO since 2019.
During Kirkhorn’s time in the position, he helped Tesla go from a $50 billion company to one...
Global hospitality company Hilton Worldwide Holdings Inc raised its full-year adjusted profit forecast on Wednesday. Previously in the range of $5.68 and $5.88 per share, the updated forecast falls in the range of $5.93 and $6.06.
Hilton is expecting a rising travel demand to bolster its earnings. This comes after several...
Oil prices stabilized on Tuesday as China indicated that it would take steps toward providing economic support to its struggling property sector, there helping to restore economic stability to the country.
West Texas Intermediate futures, the U.S. benchmark, continued to hover around $73 per barrel as the Chinese government pressured...
Jobs in the U.S. energy industry grew by 3.8% last year, the Department of Energy confirmed on Wednesday. Energy jobs growth thereby outpaced overall employment growth.
114,000 energy industry jobs were added over the past year, largely spearheaded by the growing clean energy sector which includes solar power, wind, nuclear,...
Oil prices fluctuated on Tuesday as investors continued to monitor the ongoing U.S. debt ceiling negotiations. U.S. House Speaker Kevin McCarthy revealed that while he and President Joe Biden engaged in a production discussion, an agreement between Democrats and Republicans is yet to be reached.
West Texas Intermediate traded near...