Oil futures climbed on Wednesday, reversing early losses, as the potential of fresh penalties against Russia stoked supply concerns, contrasting concerns about weaker demand as a result of a rise in US oil stockpiles and Shanghai's extended lockdown.   Brent oil futures were trading at...

According to a private sector survey released on Wednesday, activity in China's services industry dropped at the fastest rate in two years in March, as a surge in coronavirus cases hindered mobility and weighed on demand.   In March, the Caixin services Purchasing Managers' Index (PMI) fell...

Volkswagen Group to reduce its lineup of gasoline and diesel cars. Volkswagen Group will focus on luxury cars as part of its plan, according to the Financial Times, citing the company's CFO Arno Antlitz. "By the end of the decade, Volkswagen will phase out a dozen models with internal combustion...

This strange and chaotic market is showing symptoms of slowing down a year after a single non-fungible token sold for $69.3 million in crypto at Christie's auction house, with the buyer paying to be recorded on blockchain as the owner of a digital file that anybody can access online for free....

The fallout from the Russia-Ukraine conflict has just pushed two of the world's poorest countries into full-fledged crises, and the list of those at risk - and the line at the IMF's door - will only grow longer from here.   They may be far removed from the war in Ukraine, but the mass...

Saudi Arabia's state-owned oil and gas company raised May selling prices for oil to customers in Europe and the United States. The report notes that Saudi Aramco has set the official selling price of Arab Light oil for May for Europe at three dollars higher than in April, the premium to Brent grade...

Starbucks' founder, Howard Schultz, has stated that the company's share repurchase program, which began last year, will be suspended. Following Kevin Johnson's resignation, Mr. Schultz has been appointed as the company's interim CEO. Mr. Schultz announced the repurchase program's suspension right...

According to a new survey by U.S. cryptocurrency exchange Gemini, nearly half of all owners of cryptocurrency in the United States, Latin America, and Asia Pacific purchased the digital assets for the first time in 2021.   The survey, which polled nearly 30,000 people in 20 countries...

Climate change-related floods, fires, and droughts could eat into the US government budget by the end of the century, according to the White House, which released its first-ever study on Sunday.   President Joe Biden charged the Office of Management and Fiscal with assessing the budget...