Top oil companies continue to see massive earnings, according to published earnings reports for the first quarter of 2023 this week. Energy prices have been soaring following Russia’s invasion of Ukraine in February 2022 and due to persistent global demand. TotalEnergies, ExxonMobil, Chevron, BP, and Shell reported a combined record profit of $153.5 billion in 2022…
ANALYSIS: Oil Company Profits Soar
May 3, 2023
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BPBusiness & MarketsChevronCompaniesearningseconomic policieseconomyenergyExxonInvestmentMarketsoil companiesprofitsUS
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Hundreds of Minors Discovered Working Illegally at McDonald’s Restaurants Across Kentucky
May 3, 2023
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Business & MarketsCompaniesDepartment of LaboreconomyKentuckyMcdonald'sRegional & State NewsState NewsUSUS News
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Hundreds of children, including two 10-year-olds, were found to be illegally working at multiple McDonald’s locations across Kentucky, according to the Department of Labor. In a May 2 news release, the department said investigators from its Wage and Hour Division found approximately 305 children were employed across Bauer Food LLC, Archways Richwood LLC, and Bell Restaurant Group I LLC—three separate franchisees that…
Investors Warn of More Economic Pain to Come After First Republic Failure
May 2, 2023
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Business & Marketscommercial real estateCompanieseconomic policieseconomyFirst Republic BankinflationInvestmentMarketsrecessionstocksU.S. financial systemUSUS News
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Top investors at the annual Milken conference have warned of more economic pain to come after the collapse of First Republic Bank. Attendees at the conference said that the third seizure of a U.S. regional bank by the Federal Deposit Insurance Corporation (FDIC) since March is threatening to constrain credit and accelerate the path toward…
Ford Cuts Prices of Mustang Mach-E After Tesla Moves
WASHINGTON—Ford Motor Co. is cutting prices on its Mustang Mach-E electric vehicle and reopening orders, the No. 2 U.S. automaker said on Tuesday, the second time has reduced prices this year after a series of price cuts by rival Tesla Inc. Ford said it is also increasing the range for standard-range battery models as it…
Tesla Raises Prices in US, China, Japan, and Canada
May 2, 2023
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Tesla Inc. has raised prices in a range of up to $290 in Canada, China, Japan, and the United States, its website showed on Monday, after the company slashed prices of its top-selling vehicles since the start of the year. The hike was the first on its two top-selling models at the same time in…
ANALYSIS: How the Current Banking Crisis Is Different From the Financial Crisis of 2008
May 2, 2023
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bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
ANALYSIS: How the Current Banking Crisis Differs From the Financial Crisis of 2008
May 2, 2023
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bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
ANALYSIS: Comparing Today’s Banking Crisis to the 2008 Meltdown
May 2, 2023
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bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
Tucker Carlson’s Next Move After Departure From Fox News Is Revealed
Former Fox News host Tucker Carlson is expected to appear at an Alabama fundraiser this week, coming more than a week after his departure from Fox News, according to the organization of the event. Carlson will speak at the annual fundraiser for Rainbow Omega at 7 p.m. on Thursday, according to the Oxford Performing Arts Center website….
CDC Probe Finds Gold Medal Flour Was Source of Recent Salmonella Outbreak
Investigators for the Centers for Disease Control and Prevention (CDC) found that Gold Medal Flour, manufactured by General Mills, was the source of a recent salmonella outbreak in several U.S. states. The salmonella outbreak infected at least 13 people in 12 states between Dec. 6, 2022, and March 1, 2023, the CDC announced on May…
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