Gas prices could rally again this winter, according to Bank of America. REUTERS/Brian Snyder Gasoline prices in the US have fallen to $3.90 a gallon in the past week, according to AAA data. But gas prices will soon find a floor before spiking later this year, Bank of America warned. Inelastic gas demand means that…
Monthly Archives: August 2022
The Axioma was seized by Gibraltar in March. Courtesy of YachtCharterFleet A 236-foot superyacht seized from a sanctioned Russian oligarch is being auctioned off. The five-deck Axioma has a glass elevator, infinity pool, and 3D cinema, among other amenities. Take a look inside. A 236-foot, five-deck superyacht seized from a sanctioned Russian oligarch is being…
Russian President Vladimir Putin. Sputnik/Alexei Druzhinin/Kremlin via REUTERS The Taliban is in talks with Moscow about trading Russian crude oil products for Afghan produce. Iran and India have also discussed barter deals with heavily sanctioned Russia. It’s unclear if the Kremlin has entered into any such deals, but Russia has experience in barter trade. The…
Mortgage rates started trending up toward the end of last week and remain elevated today. Average 30-year fixed mortgage rates had been relatively low throughout August, at times dipping below 5%. But they’ve since trended up and have been holding steady over the past few days. Federal Reserve Chair Jerome Powell is speaking at the…
A coal-fired electricity plant in Juliette, Georgia, April 1, 2017. Chris Aluka Berry/Reuters German utility giant Uniper said it will restart a coal-fired power plant to generate electricity. The plant will provide power from Monday to April next year, after Russia halted gas flows to the country again. Europe is facing a major energy crisis…
Insider spoke with CloudKitchens operators who said Travis Kalanick’s startup sold them a dream — and then failed to deliver on it. Now, they’re leaving. This post first appeared in 10 Things in Tech, a newsletter by Insider that brings you all the latest tech news & scoops — delivered daily to your inbox. Sign up here….
US President Joe Biden with First Lady Jill Biden in May. ERIN SCHAFF/AFP via Getty Images The US’s strategic petroleum reserves have dropped to their lowest level since 1985. Stockpiles have fallen to 453 million barrels after President Joe Biden ordered a record release to ease gas prices. Analysts say releases from global reserves have…
Aleksandr Dugin attends a memorial service for his daughter Darya Dugina in Moscow, August 23, 2022 Kirill Kudryavtsev / AFP via Getty Images A Ukrainian security official accused Russia of killing Darya Dugina, the daughter of a Putin ally. Oleksiy Danilov accused Russia of planning to attack its own civilians in false-flag style events. Russia’s…
Howdy Opening Bell crew. Phil Rosen here, reporting from Wall Street. Yesterday, for the second time this year, I watched the euro slip below the dollar. As compelled as I was to immediately book a flight to the continent, instead I decided to bring you all the details of what’s happening with the world’s two…
Ghostwritten content is prevalent on LinkedIn. Basak Gurbuz Derman/Getty Images While claims of bot accounts have focused on Twitter, LinkedIn has quietly developed a fake account problem, experts say. The CEO of crypto-exchange Binance says thousands on LinkedIn falsely claim to work for him. The FBI confirmed in June that it is actively investigating crypto…