In a significant breakthrough for the Chinese EV company, BYD registered...
In a significant breakthrough for the Chinese EV company, BYD registered 7,231 cars in Europe last month to Tesla’s 7,165. BYD’s sales increased by 169% from a year earlier, while Tesla’s declined by 49% amid CEO Elon Musk’s involvement in US politics. Though Tesla’s European sales have waned for months, April marked the first time the automaker was outstripped by its Chinese rival in Europe. BYD cars, which are immensely popular in the company’s home market, have only been available in Europe for a few years, starting in Norway and the Netherlands in 2022 before expanding to other countries.
What’s in the massive tax bill passed by the House?...
What’s in the massive tax bill passed by the House? The House narrowly passed President Trump's "big, beautiful" tax and spending bill with some last-minute amendments yesterday. The 1,000+ page legislation provides significant tax breaks for mostly high-income families, seniors, and businesses, while adding roughly $4 trillion to the US debt and cutting green energy credits, Medicaid, and food stamps.
Two Israeli embassy staffers were shot and killed outside an event at the Capital Jewish Museum in Washington, DC. The suspect shouted “Free Palestine” while being arrested.
The Supreme Court blocked the creation of a taxpayer-funded Catholic charter school in Oklahoma after a tied 4–4 vote from which Justice Amy Coney Barrett recused herself.
A private jet crashed into military housing in San Diego, CA, killing multiple people, the Associated Press reported.
Google is reportedly being investigated by the Justice Department about whether it violated antitrust law by partnering with chatbot-maker Character.ai.
Strava, the fitness app with more than 150 million users, is valued at $2.2 billion after making its second acquisition in two months, its CEO said.
MrBeast, the YouTube mogul whose real name is Jimmy Donaldson, is reportedly the only billionaire under 30 who didn’t inherit their wealth, per new estimates.
Dow, S&P 500 end lower in choppy pre-holiday trade, despite rally in tech stocks
U.S. stocks finished mostly lower Thursday in choppy...
U.S. stocks finished mostly lower Thursday in choppy trade, with gains fizzling near the closing bell. However, the Nasdaq and mega-cap tech stocks still saw gains.
Investors have been on edge about rising bond yields and the potential for the U.S. deficit to grow under President Trump's huge tax bill, which House Republicans passed Thursday morning.
According to preliminary data, the Dow shed about 1 point, or less than 0.1%, to end near 41,859.
The S&P 500 shed less than 0.1%.
The Nasdaq Composite Index closed about 0.3% higher
The bond market's recent sharp selloff abated on Thursday, but the 30-year Treasury yield still ended above 5.063%, its second-highest level of the year.
US shale growth to slow, says ConocoPhillips chief
US shale oil production is projected to stagnate at current price levels...
US shale oil production is projected to stagnate at current price levels and would decrease if prices fall to around $50 a barrel, says ConocoPhillips chief executive Ryan Lance. This assessment aligns with other industry forecasts that anticipate a slowdown in US supply growth due to the recent decline in oil prices.
Freeport Back at Full Strength Three Years After Fire, Tank Damage
Freeport LNG Development LP has fully restored operations to one of three...
Freeport LNG Development LP has fully restored operations to one of three LNG storage tanks that had been offline for nearly three years following an incident and fire at the export facility. At the time, Freeport accounted for about 20% of U.S. LNG exports.
Freeport said May 21 that the Pipeline and Hazardous Materials Safety Administration and the Federal Energy Regulatory Commission had cleared the tank to return to service.
The tank had been offline since June 8, 2022, after LNG piping to the tank was damaged at Freeport LNG's Quintana Island, Texas, liquefaction facility. The incident “resulted in the release of LNG, leading to the formation and ignition of a natural gas vapor cloud and subsequent fire,” Freeport said at the time.
Since the incident, Freeport LNG said it has improved its organization, doubling the size of its operations and maintenance workforce and strengthening key leadership positions across the company, including top executives and various areas such as maintenance, operations, engineering and environmental health and safety.
