Some of the people who you may think would be benefitting from the sky high prices are actually hurting.
GARMISCH-PARTENKIRCHEN, Germany (Reuters) -Two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production, French President Emmanuel Macron on Monday said he had been told by the UAE's president. Saudi Arabia and the UAE have been perceived as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to boost global deliveries that could reduce prices.
(Bloomberg) -- Russia’s reliance on foreign software to run its factories, farms and oil fields is turning into one of the biggest headaches for domestic industry as more IT providers pull out of the market in response to President Vladimir Putin’s invasion of Ukraine. Most Read from BloombergRussia Slips Into Historic Default as Sanctions Muddy Next StepsMichael Burry of ‘The Big Short’ Fame Warns Fed May Alter CourseAnti-Abortion Centers Find Pregnant Teens Online, Then Save Their DataChina Cu
- Business Insider
Earlier this year, Visa and Mastercard raised the gas station holds limit to $175 from $125. The holds are based on the highest transaction allowed.
- Business Insider
The securities regulator also said "hundreds" more EY staff cheated on professional courses and exams between 2017 and 2021.
Watching workers poke avocados from the treetops in an orchard owned by Kenyan agriculture firm Kakuzi, managing director Chris Flowers revels in the thought some might soon go to the crown jewel of emerging consumer markets: China. Taking advantage of Beijing's deeper focus on trade with African countries to help reduce gaping deficits, Kenya struck an export deal with China for fresh avocados in January after years of lobbying for market access. Six months later, no shipments have left, Kenya's avocado society, the East African country's plant health inspectorate and Kakuzi told Reuters.
- American City Business Journals
Cedar Fair's decision to sell the land underneath California's Great America and to eventually shutter the amusement park left a lot of big questions, some more easily answered than others.
(Reuters) -U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of a finishing a new well. These "re-fracs" are taking hold as shale oil producers look to take advantage of $100 a barrel crude without making big investments in new wells and fields. A global oil shortage has triggered calls from U.S. President Joe Biden for shale producers to spend more of their profits on increasing output.
At the Mellach coal power plant in southern Austria, spider webs have taken over the conveyor belts, and plants and flowers have sprung up around the vast lot that once stored coal.
- Fox News
Thieves are stealing gas from pumps and other vehicles either by physically accessing pumps or by hacking networks as the national gas price average sits at $5 per gallon.
Empty shelves and prices discounted by as much as 70% greeted shoppers who visited Decathlon stores in Russia over the weekend before the French sports equipment retailer closed its stores on Monday, hampered by supply constraints. Scores of Western brands have left Russia following a backlash against its military incursion into Ukraine, with McDonald's, IKEA and Renault among the more high-profile. One shopper, Lyubov, said Decathlon's departure was "sad", but was adamant that Russian consumers would cope.
As the markets recently made lows and cemented a bear market, the crowd suddenly became anxious to spend. Traders and investors are desperate to find a reason to go long this market -- turning over every stone for a clue.
Office workers in San Francisco, Manhattan and Chicago are not returning to the office in significant numbers, research shows
Companies are trying to bring back employees into the office. According to a new report by Placer.ai, visits to office buildings have yet to catch up to pre-pandemic levels in such major employment centers as San Francisco, Manhattan and Chicago. In May 2022, visits to office buildings in San Francisco were down by 67.8% as compared to three years ago, before the pandemic shuttered most of the country.
(Bloomberg) -- China reduced quarantine times for inbound travelers by half, the biggest shift yet in a Covid-19 policy that has left the world’s second-largest economy isolated as it continues to try and eliminate the virus.Most Read from BloombergRussia Slips Into Historic Default as Sanctions Muddy Next StepsMichael Burry of ‘The Big Short’ Fame Warns Fed May Alter CourseAnti-Abortion Centers Find Pregnant Teens Online, Then Save Their DataChina Cuts Travel Quarantine in Biggest Covid Zero Sh
- Fresno Bee
The sign-on bonus is part of the company’s latest recruiting strategy because of the tight labor market.
It's summer and it's hot. That brings us to our call of the day from an energy trader who is super worried about electricity grids.
'There is no more retirement': Retirees are heading back to work amid soaring inflation — here's what you need to know
Not everyone can afford to live on fixed incomes as prices rise.
- Fresno Bee
Commentary by three Fresno business people.
- FX Empire
One last stab lower cannot be excluded just yet.
- Business Insider
Americans are paying $54,000 on average for an electric vehicle. A year ago, they were paying closer to $44,000.
The soaring cost of EVs is outstripping non-electric vehicles, likely forcing motorists to think twice before ditching fossil fuels.
McDonald's executives recently informed the chain's franchisees that they will be required to undergo a rigorous review process every 20 years to keep their restaurants, according to an email to...