Hurricane Helene is now projected to intensify into a Category 4 hurricane by the time it makes landfall on Florida’s coast later today — with additional strengthening possible in the hours before.
What to know: The National Hurricane Center warned of at least 130 mph winds and a life-threatening storm surge of up to 20 feet in coastal areas. Thousands of Floridians have been forced to evacuate amid threats of flooding and power outages.
Durable-goods orders were flat in August — when a sharp decline was forecast
The numbers: Orders for durable goods were flat in August, the Commerce Department...
The numbers: Orders for durable goods were flat in August, the Commerce Department said Thursday. The result was much better than anticipated. Economists had forecast a 3% fall in orders for durable goods — products made to last at least three years.
Durable goods orders rose a revised 9.9% in July, up slightly from the prior estimate of a 9.8% gain.
Core capital goods orders, which exclude volatile sectors like transportation and defense, rose 0.2% last month after a 0.2% drop in July.
Shipments of core goods, which are factored into GDP, rose 0.1% in August.
Chesapeake, Southwestern to Form Expand Energy as $7.4B Deal Closes
The companies announced Sept. 26 that Chesapeake Energy’s...
The companies announced Sept. 26 that Chesapeake Energy’s $7.4 billion merger with Southwestern Energy is expected to close in the first week of October, with the combined company renamedExpand Energy Corp.
The two natural gas players said they had cleared the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Expand Energy will become the largest gas producer in the U.S. with its massive, dual footprints in both the Appalachia and Haynesville shale plays.
The all-stock acquisition of Southwestern by Chesapeake was first announced in January, but additional scrutiny and information requests by the Federal Trade Commission caused some delays. The new Expand name was only announced on Sept. 26.
Russia Claims OPEC+ Is Not Discussing Any Changes to Oil Its Production Plan
OPEC+ is not currently discussing any changes to its...
OPEC+ is not currently discussing any changes to its oil production plan, which includes adding supply to the market starting in December 2024. This plan was initially set to begin in October but was delayed due to a crash in oil prices in August and September. Russia's Deputy Prime Minister Alexander Novak stated that all OPEC+ members fully comply with their agreed output quotas.
Saudi Arabia is reportedly determined to increase production from December 1, aiming to regain market share lost during its recent large output cut. This marks a significant policy shift for the kingdom, which is now willing to accept short-term price and revenue declines to achieve this goal.
The Saudi strategy represents a departure from its unofficial $100 oil price target, prioritizing market share over price maintenance. This change in approach could have significant implications for global oil markets and prices in the coming months.
The United States is the world’s largest exporter of motor gasoline...
The United States is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components), supplying over 16% of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day (b/d), equivalent to about 10% of domestic consumption and enough to fill up the tanks of over 1.5 million SUVs per day, assuming an average tank size of 24 gallons.
Israel is preparing for a ground war in Lebanon, the head of its military said, as its conflict with Hezbollah continues to escalate.
Eric Adams, the mayor of New York City, has been indicted following a federal corruption investigation. The charges in the sealed indictment were not immediately made public.
Congress passed a short-term funding bill, which will fund the government through Dec. 20, potentially setting up another funding battle in the aftermath of the election.
One passenger was killed when a person with a gun hijacked a Los Angeles city bus and led police on a chase. A suspect was arrested.
The FTC is suing five companies over allegedly deceptive uses of AI.
Southwest plans to cut one-third of its flights to Atlanta in a move to slash costs as it faces pressure to boost its stock price from an activist investor.
