Business News

(Reuters) —  Oil prices plunged $10 a barrel on Friday, their largest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and added to concerns that a supply surplus could swell in the first quarter. Oil fell with global equities markets on fears the variant, could …

(Reuters) — The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve sites to be delivered between late-December and April 2022, the Department of Energy or DOE said as it auctions oil to try to lower global prices. International oil prices have held above $80 a…

(NMC) — Mermaid Restaurant & Milk Tea is the latest company to sign on as a Northern Marianas College ProaPerks Partner, joining many other businesses and organizations. All card-carrying members of the NMC ProaPerks program can now receive a free milk tea drink after purchasing 10 drinks. They…

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits dropped to a 52-year low last week, suggesting economic activity was accelerating as a year ravaged by shortages, high inflation and an unrelenting pandemic draws to a close. The plunge in claims reported by …

(Reuters) — As Federal Reserve Chair Jerome Powell looks forward to four more years at the helm of the world’s most powerful central bank, attention is turning to the increasing likelihood he and his fellow policymakers will wean the U.S. economy off emergency support faster in the face of hi…

WASHINGTON (Reuters) —  The number of Americans filing new claims for unemployment benefits dropped to a 52-year low last week, suggesting economic activity was accelerating as a year marked by shortages, high inflation and an unrelenting pandemic draws to a close. The plunge in claims reported by …

BEIJING/LONDON/WASHINGTON (Reuters) — China, the world’s largest crude importer, was non-committal about its intentions to release oil from its reserves per a request from the United States, while OPEC producers were not considering changing tactics in light of the U.S. action, according to t…

NEW YORK (Reuters) — Wall Street banks are planning for a sustained period of higher inflation, running internal health checks, monitoring whether clients in exposed sectors could pay back loans, devising hedging strategies and counseling caution when it comes to deals. U.S. consumer prices this mo…

NEW YORK (Reuters) — Investors are betting that newly renominated Federal Reserve Chairman Jerome Powell will need to step up the pace at which the central bank is normalizing monetary policy to better grapple with surging consumer prices. For months, Powell has insisted the current bout of inflati…

WASHINGTON (Reuters) — The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to cool prices after OPEC+ producers repeatedly ignored calls for more crude.  President Joe Biden, facing l…