Delta Air Lines soared to a record quarterly profit of more than $1.8 billion as summer vacationers packed planes, especially to international destinations, and the airline enjoyed a tailwind from falling fuel prices. The results released Thursday beat Wall Street expectations, and Delta raised its forecast of full-year earnings. Delta officials said strong demand for…
Delta Air Lines Is Soaring to a Record $1.8 Billion Profit as Summer Vacationers Pack Planes
Google Rolls out AI Chatbot Bard to Europe and Brazil and Adds More Features
LONDON—Google said Thursday that it’s rolling out its AI-powered chatbot Bard across Europe and in Brazil, expanding its availability to hundreds of millions more users. The company also said it’s adding more features to Bard as it scrambles to keep up with rival Microsoft—which uses OpenAI’s popular ChatGPT service in its Bing search engine—in the…
Stock Market Today: Wall Street’s Winning Week Stays Perfect as Inflation Eases Further
NEW YORK—Wall Street’s winning streak barreled into a fourth day Thursday following the latest signal that inflation is easing its chokehold on the economy. The S&P 500 rose 37.88, or 0.8 percent, to 4,510.04 and its highest close since April 2022. The Dow Jones Industrial Average rose 47.71, or 0.1 percent, to 34,395.14, and the…
First Woman to Lead Reserve Bank of Australia as Lowe Exit Locked In
The Reserve Bank of Australia (RBA) will get its first woman leader as Philip Lowe’s seven-year tenure comes to an end. Mr. Lowe will be replaced by Michele Bullock, the current deputy governor of the central bank, when his term finishes on Sept. 18. Ms. Bullock has served as deputy governor since April last year…
Australia’s Largest Bank Embroiled in Dispute for Asking Workers to Return to the Office
July 13, 2023
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AustraliaBusiness & MarketsBusinesses in COVID-19CBAcommonwealth bankeconomic policiesInternationalwork from homeWorld
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The financial services union has compelled Australia’s largest bank to face the workplace umpire after trying to change its work-from-home arrangements. The Commonwealth Bank (CBA) must front up to a Fair Work Commission hearing after the Finance Sector Union (FSU) filed its dispute on July 12. Management had notified their 49,000 employees that they needed…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 13)
July 13, 2023
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Benchmark U.S. crude oil for August delivery rose $1.14 to $76.89 a barrel Thursday. Brent crude for September delivery rose $1.25 to $81.36 a barrel. Wholesale gasoline for August delivery rose 1 cent $2.68 a gallon. August heating oil rose 1 cent to $2.61 a gallon. August natural gas fell 8 cents to $2.55 per…
How Major US Stock Indexes Fared July 13
Wall Street’s winning streak barreled into a fourth day following the latest signal that inflation is easing its chokehold on the economy. The S&P 500 rose 0.8 percent Thursday for its highest close since April 2022. The Dow Jones Industrial Average rose 0.1 percent, and the Nasdaq composite rallied 1.6 percent as Big Tech stocks…
House Republicans Rail Against FTC’s Khan Over ‘Bully’ Tactics, Ethics
House Republicans accused Federal Trade Commission (FTC) Chair Lina Khan of engaging in “bully” behavior as the agency’s merger-enforcement court case losses continue to mount. The FTC appealed a court decision allowing Microsoft Corp.’s $96 billion acquisition of Activision Blizzard to move forward. U.S. District Judge Jacqueline Scott Corley ruled against the federal agency’s request…
Costco ‘Star of Death’ Mark Adds to Bud Light’s Nose-Diving Sales Figures
Retail chain Costco appears to have decided to stop selling Bud Light at its stores as the company has given the beer the dreaded “star of death” suggesting an end to product sales. Images shared online show notices at Costco announcing the sale of Bud Light together with an asterisk sign, popularly known as the…
US Oil Reserve Won’t Be Replenished for Several Years: Top Official
July 13, 2023
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Business & Marketseconomic policiesenergyExecutive BranchGold and CommoditiesJennifer GranholmMarketsOilPoliticsUSUS News
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The White House will not refill the Strategic Petroleum Reserve in the near future after millions of barrels were drawn last year, said U.S. Secretary of Energy Jennifer Granholm in a recent interview. It was announced last October by the Biden administration that it would re-buy crude oil when prices reach between $67 and $72 per barrel,…
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