Tag: Business & Markets

Closing Prices for Crude Oil, Gold, and Other Commodities (May 17)

Benchmark U.S. crude oil for June delivery rose $1.97 to $72.83 a barrel Wednesday. Brent crude for July delivery rose $2.05 to $76.96 a barrel. Wholesale gasoline for June delivery rose 9 cents $2.57 a gallon. June heating oil rose 6 cents to $2.42 a gallon. June natural gas fell 1 cent to $2.37 per…


In-Depth: Tennessee Governor Wants State to Be Leader in Nuclear Energy

The state that was home to the Manhattan Project creating the atomic bomb and the Oak Ridge National Laboratory is seeking to become the national leader in nuclear energy. Republican Tennessee Governor Bill Lee signed an executive order advancing nuclear energy in the state on May 16. Lee’s order (pdf) establishes the Tennessee Nuclear Energy…


Target Predicts Over $1 Billion in Losses From Theft, Forecasts Gloomy 2nd Quarter as Consumers Pull Back

Target predicted a gloomy second-quarter forecast as consumers pull back from non-essential purchases such as electronics and home goods, due to inflation. However, the retailer maintained its full-year profit expectations as total sales rose 0.5 percent, in its May 17 quarterly earnings report. The company’s poor forecast follows poor numbers from Home Depot, which is predicting…


Nearly 70 Percent of Australian Employers Look to Hire More as Wages Increase

Australia’s hiring outlooks are improving as over two-thirds of employers intend to recruit more workers over the June 2023 quarter.  The Quarterly Australian Work Outlook Report, published by the Australian HR Institute (AHRI) on May 16, surveyed 60,600 HR and business leaders in Australia. The report showed that 69 percent of organisations are planning to…


UBS Says Its Rescue of Credit Suisse Was a Rushed Deal With Unclear Risks

Switzerland’s biggest bank UBS said that it was unable to carry out a comprehensive assessment of the assets and liabilities of Credit Suisse as it was pushed by regulators to take over its beleaguered rival in a rushed rescue to stem financial contagion and prevent a systemic meltdown. UBS said in May 16 regulatory filings with…


Kaitlan Collins Promoted to Prime Time After Hosting CNN’s Trump Town Hall

The CNN journalist who hosted a town hall with former President Donald Trump has scored a prime-time slot, CNN executives said on May 17. Kaitlan Collins will host a show at 9 p.m. Eastern, in the middle of prime time, CNN executives said at Warner Bros. Discovery Upfront, an event with advertisers. “In her new program,…


Musk Says He’s Not Stepping Down as Tesla CEO, Tells Shareholders the Company Will Advertise

Elon Musk on Tuesday dismissed speculation that he might step down as Tesla’s CEO and told the company’s annual shareholders meeting that the electric car and solar panel company would start doing some advertising. “Say it ain’t so,” one shareholder asked Musk about stepping down as Tesla’s leader. “It ain’t so,” he replied without further…


Miller Lite Boycott Calls Grow Over ‘Woke’ Beer Advertisement

Miller Lite is facing a growing backlash over an advertisement that appears to apologize for imagery of women clad in bikinis in beer commercials that some social media influencers say is a “woke” ad campaign. “Women were among the very first to brew beer, ever,” actress Ilana Glazer said in the expletive-laden advertisement that showed…


Retail Sales Come in Below Expectations After 2 Months of Declines

U.S. retail sales rose slightly in April but fell below expectations after two months of declines. Retail sales are primarily goods and are not adjusted for inflation, while changes in the category are widely followed as an indicator of consumer spending. Last month’s overall retail sales rose 0.4 percent last month at $686.1 billion, instead…


Impose Secondary Sanctions on the Business Partners of Russia and China

Commentary Western sanctions on Russia have loopholes through which a self-driving truck with haywire AI could drive. Businesses in Central Asia, for example, openly advertise online about how they serve as transshipment points to evade U.S. and EU sanctions “100 percent.” The statistics back them up. As soon as the sanctions took effect, imports of…