Author: News Room

By Alex Lawler LONDON (Reuters) – The surprise oil output cuts announced on Sunday by OPEC+ members illustrate their greater power over the market, given limited supply growth by other producers such as U.S. shale firms and still-growing demand despite the energy transition. Oil has jumped to $85 a barrel since members of the Organization of the Petroleum Exporting Countries and allies including Russia announced production cuts of about 1.16 million barrels per day (bpd), adding to curbs already in place. While OPEC or OPEC+ decisions to cut output in the past have drawn warnings that higher prices and lower…

© Reuters. FILE PHOTO: Toyota Motor Corporation’s bZ SDN is pictured after a briefing on the company’s strategies on battery EVs in Tokyo, Japan December 14, 2021. REUTERS/Kim Kyung-Hoon By Daniel Leussink and Maki Shiraki TOKYO (Reuters) – Toyota Motor (NYSE:) Corp will introduce 10 new battery-powered models and target sales of 1.5 million EVs a year by 2026, aiming for steep growth in a market where it has long been lapped by rivals. The world’s largest automaker by sales will also set up a new, specialised unit to focus on next-generation battery EVs, senior executives said at a briefing…

President Biden’s Environmental Protection Agency is proposing tighter rules to limit emissions of harmful mercury and other pollutants from coal-fired electric power plants, officials announced Wednesday. If passed, the updates would be the first regulatory tightening of its kind imposed in more than a decade and would roll back looser emissions and pollutant standards advanced late in former President Donald Trump’s administration. The EPA proposal, after a comment period, would go into effect next year. The EPA’s latest moves follow a legal finding by the agency earlier this year that determined regulating toxic emissions under the Clean Air Act is…

My husband and I have three wonderful college-aged kids and have always gotten by on our own, despite major life struggles. We have saved $500,000 for retirement, but have only managed to pay off $200,000 of our home.  Five years ago, my wealthy father offered to help with our children’s education, which was a pleasant surprise. He retired with approximately $8 million to $10 million, which includes his real-estate and property portfolios. His home and cars are paid outright.  He had asked if we would like help now or in five years when his land investment matured. He seemed to…

These reports, excerpted and edited by Barron’s, were issued recently by investment and research firms. The reports are a sampling of analysts’ thinking; they should not be considered the views or recommendations of Barron’s. Some of the reports’ issuers have provided, or hope to provide, investment-banking or other services to the companies being analyzed. Uber Technologies UBER-NYSE Buy (four stars out of five) • Price $31.70 March 31 by CFRA Our Buy reflects our favorable views for both the Mobility and [food] Delivery segments, coupled with our belief that Uber will be disciplined on costs. We see it as a…

Clarence Thomas defends lavish vacations. Hear AOC’s responseRep. Alexandria Ocasio-Cortez (D-NY) joins CNN’s Dana Bash after ProPublica’s report stated that Justice Clarence Thomas and his wife, conservative activist Ginni Thomas, have gone on several luxury trips involving travel subsidized by and stays at properties owned by a GOP megadonor. Read the full article here

Tesla has announced plans to build a factory in Shanghai to produce its Megapack energy storage system, as chief executive Elon Musk resists rising opposition a rising tide of angst in Washington over US technology companies investing in China.Tesla’s Megapack system provides lithium-ion battery packs to help store renewable energy for electricity grids and represents a key driver for its energy storage and generation business. The electric-vehicle maker said at a signing ceremony in the Chinese city, that construction of its new plant was planned for the third quarter of this year, with production scheduled to begin in the second…

On March 29, 523 business representatives from the Brazil and mainland China gathered for the Brazil-China Economic Seminar in Beijing. One of the outcomes was the signature of 20 agreements to facilitate and expand Brazil-China bilateral trade and relations. The agreements demonstrate efforts to deepen bilateral ties, reinforcing mainland China’s strategic role in Brazilian trade Bilateral trade grew by 10.1% year on year in 2022 and reached a record USD150 billion. The 20 new agreements have a broad scope, indicating that the Lula administration is looking to prioritize deepening economic ties with China. Lula’s visit to mainland China, which was…

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