Chevron Buys Hess In 2nd Buyout Among Major Producers This Month As Oil Prices Surge
Chevron is buying Hess Corp. for $53 billion in another huge deal this month as the industry uses its windfall from surging oil prices.
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Mortgage rate decline pulls buyers back into the housing market
A sharp drop in mortgage interest rates in December may have kickstarted this year’s spring housing market early. Rates are about a full percentage point lower than they were in October, and consumers expect they will fall even more. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie…
State insurance commissioner says companies are delaying policies, denying discounts
Responding to consumer complaints about auto insurance coverage, the state insurance commissioner said Thursday that insurers could face penalties for creating unlawful barriers for California drivers. Ricardo Lara issued a bulletin to auto insurers, reminding them that they cannot change their policies’ terms and rates without formally filing for state review and approval. The bulletin…
Why Workers Are Frustrated With Amazon, Starbucks and Trader Joe’s Right Now
Last year, the independent, fledgling union Trader Joe’s United accomplished what had never been done before: It formed the chain’s first unionized store, in Massachusetts, then its second, in Minnesota. Once the celebrations were over, workers got down to the less glamorous business of negotiating a first contract. But Trader Joe’s insisted everyone participate in…
Boeing’s latest 737 Max failure narrowly avoided tragedy — but it won’t avoid scrutiny
Boeing’s new 737 MAX-9 is pictured under construction at their production facility in Renton, Washington, Feb. 13, 2017. Jason Redmond | Reuters Boeing‘s plan to get back on solid footing after a series of quality flaws in its bestselling jet suffered a near disaster when a plane panel blew out during an Alaska Airlines flight,…
An “Angry Mob” On Reddit Is Pushing Up GameStop’s Stock Price And Pissing Off A Bunch Of Wall Street Firms
By encouraging everyday investors, also known as retail investors, to buy up GME stock and increase its price, hedge funds would have to sell out in order to cut their losses from having shorted the stock, which increases the stock price even further. “Hedge funds are getting their asses kicked by the retail investor,” Lindzon…
IRS rejects more than 20,000 refund claims for pandemic-related tax credit
IRS Commissioner Daniel Werfel speaks during an IRS event on August 2, 2023 in McLean, Virginia. Alex Wong | Getty Images The IRS is sending more than 20,000 rejection letters to taxpayers who wrongly claimed a pandemic-era tax break as the agency continues its crackdown on “dubious” filings. Created to support small businesses during the…
