WASHINGTON — The Biden administration is making good on a plan to replenish the nation’s emergency oil reserves, starting with a 3 million barrel purchase of crude. The purchase of barrels for February delivery follows a historic 180 million barrel release of oil from the U.S. Strategic Petroleum Reserve to tame high gasoline prices amid […]
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Business news and information from the Portland Press Herald.
Posted inBusiness, Nation & World
Journalist suspensions widen rift between Twitter and media
Most of the journalists’ accounts were back early Saturday, but the suspension activity could spur a rupture with media organizations, which are among the most active on Twitter.
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Oil wells creeping into Texas cities herald shale era’s twilight
A shale slowdown means the world can no longer rely on the U.S. to be its swing oil supplier, capable of ramping up or down quickly to temper a volatile market.
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Musk’s troubling week pushes Tesla investors closer to the edge
Tesla’s stock price sank 16% over the last five sessions for its worst week since the pandemic struck in March 2020.
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U.S. opens probe of Cruise robotaxi braking, clogging traffic
The investigation, which covers about 242 of the autonomous vehicles, could bring a recall.
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Ex-lawyer – accused of killing wife, son – charged with tax evasion
Prosecutors say Alex Murdaugh made almost$14 million over nine years, while also stealing nearly $7 million from his firm.
Posted inBusiness, Nation & World
New York bans pet stores from selling cats, dogs, rabbits
The new law, which takes effect in 2024, lets shops work instead with shelters to offer rescued or abandoned animals up for adoption.
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Treasury Secretary Janet Yellen to visit sub-Saharan Africa
The world’s second-largest continent is crucial to the global economy due to its rapidly growing population and significant natural resources.
Posted inBusiness, Nation & World
Musk’s suspension of journalists on Twitter spurs U.S., international condemnation
Elon Musk faced backlash from officials in Europe after Twitter suspended the accounts of several U.S. journalists.
Posted inBusiness, Nation & World, News
Starbucks workers plan 3-day walkout at over 100 U.S. stores
The union says it expects the strike will shutter some stores entirely; at others, managers or other workers may keep the stores open.