American Airlines and JetBlue Airways must abandon their partnership in the northeast United States, a federal judge in Boston ruled Friday, saying that the government proved the deal reduces competition in the airline industry. The ruling is a major victory for the Biden administration, which has used aggressive enforcement of antitrust laws to fight against…
American Airlines and JetBlue Must Abandon Their Partnership in the Northeast, Federal Judge Rules
Closing Prices for Crude Oil, Gold, and Other Commodities (May 19)
May 19, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for June delivery fell 31 cents to $71.55 a barrel Friday. Brent crude for July delivery fell 28 cents to $75.58 a barrel. Wholesale gasoline for June delivery rose 1 cent to $2.58 a gallon. June heating oil fell 4 cents to $2.36 a gallon. June natural gas was unchanged at…
Celebrity Chef José Andrés Exempted From Gas Stove Ban in California City
May 19, 2023
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Business & MarketsCaliforniaCelebrity chefCompaniesenergyEntertainmentFilm & TVgas stovesJosé AndrésUSUS News
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A California city’s ban on natural gas stoves will not be applied to the restaurant renowned chef and restaurateur José Andrés is slated to open, officials revealed Tuesday, describing the situation as “unique” and a “one-off.” In a statement on Tuesday, the City of Palo Alto said a settlement was reached with Simon Property Group…
Stock Market Today: Wall Street’s Best Week Since March Stalls Amid Debt Worries
NEW YORK—Wall Street’s best week since March ran out of steam Friday as worries rose about the U.S. government’s efforts to avoid a potentially disastrous default on its debt. The S&P 500 slipped 6.07 points, or 0.1 percent, to 4,191.98. The Dow Jones Industrial Average fell 109.28, or 0.3 percent, to 33,426.63, while the Nasdaq…
Newsom Proposes Raising Californians’ Electricity Consumption Tax to Investigate ‘Big Oil’
May 19, 2023
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Big OilBusiness & MarketsCaliforniaCalifornia Energy Commissionelectrical energy surchargeenergygas priceGavin NewsomNorthern CaliforniaPolicies & ImpactsRegional & State NewsSouthern CaliforniaState NewsUSUS News
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California Gov. Gavin Newsom’s recently passed law to “hold Big Oil accountable” faces more pushback in the state Legislature this week as lawmakers decide how to pay for its implementation. The governor told Californians in a video posted in January they “won’t pay a cent” for his new law to punish oil companies for last…
Dan Bongino Reveals the Real Reason He Departed Fox News
Former Fox News host Dan Bongino revealed why he departed the network amid rumors and speculation surrounding Tucker Carlson, who exited the network just days later. Bongino confirmed that he was leaving Fox News in April but signaled at the time that the parting was mutual. However, after Carlson’s exit, there were also rumors about why…
EXCLUSIVE: McCarthy Holds ‘Most of the Cards’ in Debt Ceiling Negotiations, Gingrich Says
House Speaker Kevin McCarthy (R-Calif.) has the upper hand in negotiations with President Joe Biden on raising the debt ceiling and cutting federal spending, according to former House Speaker Newt Gingrich. Gingrich said that the House’s passage of the Limit, Save, Grow Act on April 26 was a key moment in breaking the stalemate Biden…
Former Anheuser-Busch Executive Says Bud Light Backlash Isn’t ‘Going Away’
A former Anheuser-Busch executive is warning that the Bud Light boycott isn’t going away anytime in the near future after the brand reported yet another decline in sales amid the backlash over its decision to engage in an advertising campaign with transgender activist Dylan Mulvaney. “Consumers feel like they’re having an impact. And every single…
High Interest Rates Are Not the Problem; Decades of Low Rates Were: Grant Williams
May 19, 2023
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ArchivedBusiness & Marketscentral bankseconomic policiesFederal Reservegrant williamsJanet YellenNewsPoliticsUSUS News
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In a viral exchange back in March, Sen. Elizabeth Warren (D-Mass.) grilled Federal Reserve Chair Jerome Powell over the unemployment caused by the Fed’s recent rate hiking cycle. “Do you call laying off two million people this year not a ‘sharp’ increase?” the senator asked. “Explain that to the two million families who are going…
Net Zero Hydrogen Levy Plans Could Push Energy Bills Up by £120 a Year: Report
The extra levy for hydrogen could add £118 to annual household bills, a 10 percent increase on dual fuel bills under the government’s net zero plans, according to analysis. A report from the centre-right think tank Onward published on Thursday claims that the levy to pay support for hydrogen production would raise energy bills by around…
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