Author: News Room

Oil futures ended lower on Thursday, with the U.S. benchmark edging down from a nearly five-month high as investors assessed the economic outlook and prospects for crude demand. A monthly assessment of the outlook for supply and demand from the Organization of the Petroleum Exporting Countries drew little reaction. Still, oil import data from China were encouraging in terms of demand prospects, analysts said. Price actionMarket drivers Crude… Read the full article here

The nation’s largest employer says it’s time for employees to return to the office more regularly, offering the latest salvo in America’s work from home battle. The Biden administration on Thursday detailed new guidance for a return to work for federal employees, making clear that they must “substantially” increase in-office work. The guidance called on each department and agency to formulate its own plans based on their organization’s needs, but stopped short of calling for any specific requirement. “The guidance we are releasing today directs agencies to refresh their Work Environment plans and policies—with the general expectation that agency headquarters…

Boeing said on Thursday that a production issue would affect its ability to deliver a “significant” number of 737 Max jets, worsening aircraft shortages for airlines around the world.The aerospace manufacturer said supplier Spirit AeroSystems had used a “non-standard” process when installing two fittings in the fuselage of certain models of the narrow-body jet, creating the possibility that it might not comply with specifications laid out by aviation regulators.Shares of the company fell more than 5 per cent in after-hours trading. Spirit stock fell more than 11 per cent.Boeing said the planes can still operate safely, but “the issue will…

One of the most disappointing electric vehicle startups in recent years has been Lucid (NASDAQ:LCID). The luxury car maker has fallen well short of expectations time and time again, leading to significant losses and cash burn. After the bell on Thursday, the company announced its Q1 unit volumes, which continue to show that sales remain a challenge. For the March ending period, the company produced 2,314 vehicles during Q1 at its manufacturing facility in Arizona and delivered 1,406 vehicles during the same period. While there can be seasonality in the auto business from the fourth quarter to the first, these…

Watch full video on YouTube

Ether (ETH), the cryptocurrency that powers the smart-contract-enabled Ethereum blockchain, just surged above $2,100 for the first time since May 2022 amid positive post-Shapella update changes in the ETH supply.Ethereum developers successfully implemented the so-called “Shapella” upgrade on Wednesday – Shapella being an amalgamation of the names of Ethereum’s consensus (Shanghai) and execution (Capella) layers.Among other things, the upgrade means that staked ETH and ETH-denominated staking rewards can now be withdrawn from the staking smart contract for the first time since staking was enabled on the Beacon blockchain back in December 2020.Some analysts had worried that the enabling of withdrawals…

San Francisco Police have arrested Nima Momeni in connection to the murder of Cash App founder Bob Lee, San Francisco Police Chief Bill Scott said during a news conference on Thursday. Scott described Momeni as a 38-year-old man from Emeryville, California. Scott said Momeni and Lee knew one another, but he didn’t provide further details about their connection. California Secretary of State Records indicate that Momeni has been the owner of an IT business, which, according to its website, provides services like technical support. Momeni was taken into custody without incident, according to Scott, and taken to the San Francisco…

Even amid the cutting, Jassy, who took over from founder Jeff Bezos in 2021, said Amazon is still focused on growing some of its more unproven businesses, like its Kuiper internet satellite and grocery units.The company is also investing in new areas, such as machine learning technology, he added. Amazon is responding to a boom in generative artificial intelligence tools, like OpenAI’s ChatGPT, that have captured the attention of Silicon Valley and set off an arms race between Microsoft and Google.Amazon has used machine learning in various applications over the past few decades, Jassy said. It’s now working on its…

The IRS may have your money. The tax agency has announced that more than $1.5 billion in outstanding refunds remain unclaimed from the 2019 tax year. The agency estimates that more than 1.5 million taxpayers might have qualified for a refund but did not file a federal income tax return for the 2019 tax year. Tax Refund Deadline If you are due a refund, you must file a federal income tax return to get your money. Taxpayers usually have three years to file and claim their tax refunds—if you don’t file within three years, the money becomes the property of…

(Reuters) – The U.S. government recorded a $378-billion budget deficit in March as outlays outpaced revenues, the Treasury Department said on Wednesday. That compared to a budget deficit of $193 billion in the same month last year, according to the Treasury’s monthly budget statement. Analysts polled by Reuters had forecast a $302 billion deficit for the month. The March deficit brought the year-to-date fiscal deficit to $1.1 trillion, up 65% from a year earlier. The biggest drivers of deficits this year, according to Treasury data, have been higher individual tax refunds as the Internal Revenue Service works through a substantial…