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BREAKING NEWS
GM Sees No Immediate Demand Shift as Iran War Pushes Up Gas Prices
By Bill Pan General Motors has not yet seen a major shift in sales as the ongoing war in Iran drives gas prices up, according to Paul Jacobson, the automaker’s finance chief. Speaking on March 18 at Bank of America’s Global Automotive Summit, Jacobson said it typically takes several months of persistently high oil prices…
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Warner Bros CEO to Collect $667 Million in Paramount Deal
By Andrew Moran Warner Bros. Discovery CEO David Zaslav will collect about $667 million in compensation after the entertainment empire completes its sale to Paramount Skydance. Last month, the company accepted Paramount’s $110 billion proposal, concluding a months‑long bidding contest after Netflix exited the talks. One of the key beneficiaries of the merger will be Zaslav,…
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US Has Flown 8,000 Flights, Struck 7,800 Iranian Targets, CENTCOM Says
By Jack Phillips The United States has flown more than 8,000 combat flights and struck more than 7,800 targets in Iran since the conflict began three weeks ago, U.S. Central Command (CENTCOM) said on March 18, as Iranian state-run media warned of imminent strikes on nearby countries’ oil refineries. On Wednesday, CENTCOM also said U.S.…
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China Has Its Lowest Growth Target in Years—Here’s Why
By Terri Wu China has set its lowest economic growth target in decades for this year, at 4.5 to 5 percent. Beijing has maintained its target at “around 5 percent” for the past three consecutive years, and last year reported a growth rate of exactly 5.0 percent—no more and no less. The regime has long…
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Trump Expects Iran War to End ‘Soon’
By Aldgra Fredly President Donald Trump said on March 16 that he believes the U.S.–Israeli war with Iran could be “wrapped up soon,” but added that it is unlikely to end within the week. During a press conference in the Oval Office, Trump was asked whether he thinks the war could end this week, to…
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Trump Says Some Countries ‘On the Way’ to Help Open Hormuz Strait
By John Haughey President Donald Trump said Monday that several nations will send warships to join the United States Navy in escorting commercial ships through the Strait of Hormuz but expressed disappointment that several key NATO “big boys,” notably the United Kingdom and Germany, have not responded to his call for a joint operation. “Numerous…
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How the US Can Adjust to Middle East Oil Disruptions
By Kevin Stocklin The U.S.–Israeli war with Iran has brought heightened volatility to energy and equity markets, with the price of oil rising from about $65 per barrel of crude before the war to a high of $119 on March 9, before falling back to its current level of about $100. If oil supplies from…
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Trump Says Xi Summit Could Be Delayed
By Aldgra Fredly President Donald Trump said on March 15 that he may delay a planned meeting with Chinese leader Xi Jinping. “It’s only appropriate that people who are the beneficiaries of the Strait will help to make sure that nothing bad happens there,” the president said in an interview with the Financial Times. Trump…
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Major Winter Storm Prompts Over 1,500 Flight Cancellations in US
By Jacki Thrapp A major winter storm has caused the cancellation of over 1,500 flights in states around the Great Lakes region. Airports in the Chicago area experienced the most cancellations on March 15, according to flight tracker FlightAware. As of 5:30 p.m. ET, Chicago O’Hare International Airport had over 780 canceled flights coming into…
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Oil Prices Hit Over $106 Per Barrel
By Naveen Athrappully Brent crude oil futures hit a high of $106.50 per barrel in late Sunday trading, as the conflict in Iran continues to threaten global oil supply. Prices hit a high of nearly $120 per barrel on Sunday last week, followed by a decline to the low 80s by Tuesday, March 10. Oil…
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