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Wall St. drops as tech stocks tumble on Huawei fallout fears

14 hours ago DieselGasoil Comments Off on Wall St. drops as tech stocks tumble on Huawei fallout fears
(Reuters) – U.S. stocks fell on Monday, as a crackdown on China’s Huawei Technologies raised concerns of a bigger impact on chipmakers and added to fears of an escalation in trade war between the two nations. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 16, 2019. Read More

U.S. factory output drops for third time in four months

6 days ago DieselGasoil Comments Off on U.S. factory output drops for third time in four months
WASHINGTON (Reuters) – Declining output of cars and machinery led U.S. factory production to fall unexpectedly in April, a sign the economy is losing a step as a trade war with China intensifies. The Federal Reserve said on Wednesday manufacturing production fell 0.5 percent last month, the third decline in four months. Economists polled by Read More

Exclusive: Tesla’s solar factory is exporting most of its cells – document

6 days ago DieselGasoil Comments Off on Exclusive: Tesla’s solar factory is exporting most of its cells – document
(Reuters) – The “great majority” of solar cells being produced at Tesla’s factory in upstate New York are being sold overseas instead of being used in the company’s trademark “Solar Roof” as originally intended, according to documents reviewed by Reuters. FILE PHOTO: A worker is seen outside the Tesla Inc. Gigafactory 2, which is also Read More

Stocks bounce back as trade rhetoric cools

6 days ago DieselGasoil Comments Off on Stocks bounce back as trade rhetoric cools
NEW YORK (Reuters) – U.S. stocks on Tuesday reclaimed some of the ground lost in the prior day’s steep sell-off, with tariff-sensitive technology stocks leading the S&P 500 and the Nasdaq higher as investors were heartened by a tonal shift in U.S.-China trade rhetoric. All three major U.S. indexes closed in the black, although they Read More

Bitcoin nears $8,000 benchmark as massive cryptocurrency price spike prompts some head-scratching

1 week ago DieselGasoil Comments Off on Bitcoin nears $8,000 benchmark as massive cryptocurrency price spike prompts some head-scratching
After an extensive slump since the end of last year, Bitcoin prices have now spiked to a nine-month high of almost $8,000, leaving analysts and enthusiasts questioning what might have caused the sudden uptick. Sitting at around $5,000 at the beginning of May, prices had surged by nearly 40 percent within a single week as Read More

Chevron drops Anadarko takeover battle after Occidental raises bid

2 weeks ago DieselGasoil Comments Off on Chevron drops Anadarko takeover battle after Occidental raises bid
HOUSTON (Reuters) – Chevron Corp abandoned its takeover bid for Anadarko Petroleum Corp on Thursday, outmaneuvered by Occidental Petroleum Corp’s higher, $38 billion offer that included more than three times as much cash. With a financing assist from billionaire investor Warren Buffett, Occidental, which is one-quarter the size of Chevron, is the likely victor in Read More

Wall St. drops as investors await outcome of U.S.-China trade talks

2 weeks ago DieselGasoil Comments Off on Wall St. drops as investors await outcome of U.S.-China trade talks
NEW YORK (Reuters) – Wall Street’s main indexes fell on Thursday ahead of critical trade negotiations between the United States and China, though they pared losses significantly after U.S. President Donald Trump said reaching a deal this week was possible. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, Read More

Chevron drops $33 billion pursuit of Anadarko, hands win to Occidental

2 weeks ago DieselGasoil Comments Off on Chevron drops $33 billion pursuit of Anadarko, hands win to Occidental
A Chevron gas station sign is pictured at one of their retain gas stations in Cardiff, California October 9, 2013. REUTERS/Mike Blake (Reuters) – Chevron Corp abandoned its pursuit of Anadarko Petroleum Corp on Thursday, outmaneuvered by a higher rival bid of $38 billion that included more than three times as much cash. The decision Read More

Pakistan calls on Facebook to block anti-vax propaganda amid ‘mass hysteria,’ spate of gun attacks

2 weeks ago DieselGasoil Comments Off on Pakistan calls on Facebook to block anti-vax propaganda amid ‘mass hysteria,’ spate of gun attacks
As Pakistani healthcare workers fight to eradicate Polio in the country, mass hysteria has gripped many communities as fake news and malicious rumors are shared on social media, prompting calls for action by the tech giants. “The parental refusals due to propaganda on Facebook regarding the vaccine is emerging as the major obstacle in achieving Read More

Pipeline bottlenecks cost Canadian producers $20 billion

2 weeks ago DieselGasoil Comments Off on Pipeline bottlenecks cost Canadian producers $20 billion
Alberta’s oil industry has faced persistent pipeline problems, costing Canadian producers a whopping $20 billion in lost earnings. Canada has plenty of oil, and demand is high, but the Canadian oil industry has nevertheless taken a major hit this year thanks to its persisting pipeline bottleneck. The Albertan oil industry has long been plagued by Read More