A new electric car could charge in the time it takes to fill a gas tank. Fisker, a US...
A new electric car could charge in the time it takes to fill a gas tank. Fisker, aUS electric-vehicle startup, is bringing battery-swapping technology to its first model. Battery swaps will take a few minutes and cost less than getting gas, the startup says. More here.
Crude oil prices didn’t change much in Thursday’s trading as Brent recorded a slight gain while WTI...
Crude oil prices didn’t change much in Thursday’s trading as Brent recorded a slight gain while WTI dropped slightly. The weak responses occurred after the European Central Bank slowed the pace of interest rates.
West Texas Intermediate crude finished down 4 cents or 0.006% to $68.56 a barrel on the New York Mercantile Exchange. At one point in the trading, WTI fell to a session low of $63.64 which was the lowest price since December 2021.
Brent crude, the global benchmark, recorded a 17-cent gain or 0.24% to close at $72.50 a barrel on ICE Futures Europe.
Dow, S&P 500 book 4-day losing streak as bank shares weigh
U.S. stocks closed lower for a fourth session in a row on Thursday...
U.S. stocks closed lower for a fourth session in a row on Thursday as pressure on shares of banking stocks continued to weigh on equities.The Dow Jones Industrial AverageDJIA, -0.86% fell about 286 points, or 0.9%, ending near 33,127, according to preliminary FactSet figures. The S&P 500 index SPX, -0.72% fell 0.7% and the Nasdaq Composite Index COMP, -0.49% slumped 0.5%. That marked the S&P 500’s longest losing streak since Feb. 22, according to Dow Jones Market Data, and the longest losing stretch since Dec. 19 for the Nasdaq. Pressure in the U.S. banking sector has been a key focus for investors, with shares of the SPDR S&P Regional Banking ETF KRE, -5.45% down about 38% on the year so far. Despite stress at banks from rate shocks and lost deposits, the Federal Reserve on Wednesday raised rates by another 25 basis points to a 5%-5.25% range, the highest level since 2007.
Callon Petroleum purchases Permian Basin oil company
Another Permian Basin merger has gone down as Callon Petroleum announced a $475 million cash-and-stock...
Another Permian Basin merger has gone down as Callon Petroleum announced a $475 million cash-and-stock deal to acquire Percussion Petroleum Operating II LLC.
The deal will add about 18,000 net acres and approximately 70 high-return well locations in the Permian, Callon said in the announcement. The deal also includes potential contingent payments of up to $62.5 million to Percussion reported Reuters.
Billionaire and corporate activist Carl Icahn’s fortune took a $10 billion hit this week after he was...
Billionaire and corporate activist Carl Icahn’s fortune took a $10 billion hit this week after he was accused by short-seller Hindenburg Research of using a “Ponzi-like” economic structure at his investment company.
Icahn, majority owner of Oklahoma City-based SandRidge Energy and CVR Energy and its refinery in southern Oklahoma, saw his fortune sink by 41% to $14.6 billion reported Bloomberg.
Icahn is a nearly 70% owner of CVR Energy after acquiring more than 71 million shares between 2011 and 2012.
Bloomberg reported the 87-year-old Icahn is the latest billionaire to be targeted by Hindenburg this year after the New York-based short-seller went after India’s Gautam Adani and Block Inc.’s Jack Dorsey. He owns more than 85% of Icahn Enterprises’s units through various entities, making up the bulk of his fortune.
