An LNG tanker at sea. Mark Garfinkekl/Getty Images Asian sellers of LNG are feeding Europe patchwork gas shipments amid its energy crisis. The cargoes comprise a mixture of leftover gas from Australia and Oman sent to Asian customers. The move is helping Europe meet its gas storage targets ahead of winter as Russia slashes supply. …
Monthly Archives: August 2022
Warren Buffett. AP Images Warren Buffett has helped wipe about $35 billion from BYD’s market capitalization. The “Buffett Effect” has fueled a roughly 25% slump in the Chinese EV maker’s stock in recent weeks. Buffett’s Berkshire Hathaway teased a sale of BYD stock in July, then sold shares last week. When Warren Buffett reveals he’s…
Vladimir Putin’s Russia is still pumping plenty of oil, despite Western sanctions. OZAN KOSE/Getty Images Russia exported more oil this month than in any other August on record, according to the Institute of International Finance. The IIF said the capacity of oil tankers leaving Russia was just under 160 million in August, with the majority…
Mitch Lowe. Mitch Lowe Mitch Lowe, who has been a leader at Netflix, Redbox, and MoviePass, is releasing his book “Watch and Learn” on September 6. He talked with Insider about the time WME head Ari Emanuel almost bought MoviePass. Lowe also revealed how a swanky Coachella party made him realize MoviePass was doomed. Since…
US President Joe Biden speaks on the January jobs reports during an event in the State Dining Room of the White House February 4, 2022 in Washington, DC. Win McNamee/Getty Images The US jobs report is among the most important economic records the government publishes. James Walker leads the team of economists who write the…
Michael M. Santiago/Getty Images Bed Bath & Beyond shares tumbled 26% Wednesday after updates from the struggling retailer. The meme-trader favorite plans a stock offering of up to 12 million shares. It’s already starting to close more than 100 stores and will cut jobs. Bed Bath & Beyond shares lost nearly a third of third…
The pandemic and changing consumer preferences have fundamentally altered the payments & commerce ecosystem, and retailers and brands will need to adapt to retain fickle consumers. The companies that continue to digitize the shopping journey, while promoting sustainability and reducing friction, will win in 2022. As the new year is starting, we’ve compiled three trends…
Mississippi has become the first state to confirm plans to tax forgiven student loan debt. Getty Images Mississippi is planning to tax residents’ forgiven student loan debt, per Bloomberg. Debt cancellations are usually considered as taxable income unless an exemption is made. More states could subject forgiven student loan debt to income tax. Mississippi is…
A Bed Bath & Beyond store in New York City. Michael Santiago/Getty Images Bed Bath & Beyond announced it is closing about 150 stores ahead of the retailer’s earnings call. The company is also cutting its corporate staff by about 20% as sales fell 25% last quarter. The company is one of several to initiate…
A few days ago, Corsair introduced a 45-inch display called Xeneon Flex with a panel made by LG that you can bend to switch between a flat and a curved screen. Turns out LG also developed a bendable monitor model of its own. The Korean company has just unveiled the LG OLED Flex or LX3,…