If you’ve ever had a conversation that addresses how going to the theater, ordering dinner, or carrying out another regular activity used to be less expensive, you’ve discussed the concept of inflation. Over time, prices tend to shift upward, though the pace of their upward trajectory is not always consistent. On occasion, economic circumstances can…
Texas Upstream Oil and Gas Sector Continues to Add Jobs
The Texas upstream oil and gas sector continues to add jobs, new data from the Texas Workforce commission shows. In June, upstream oil and natural gas employment expanded by 3,100 jobs, the fifth best single-month performance in over five years. Since the low point in employment in September 2020, months with job gains in the…
Existing US Home Sales up in June; Prices Reach New Heights
Sales of previously occupied U.S. homes rose in June, snapping a four-month losing streak, while strong demand for higher-end properties and ultra-low mortgage rates helped push prices to new highs. Existing homes sales rose 1.4 percent last month from May to a seasonally-adjusted annual rate of 5.86 million units, the National Association of Realtors (NAR)…
PG&E Will Spend at Least $15 Billion Burying Power Lines
July 22, 2021
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SAN RAMON, Calif.—Pacific Gas & Electric plans to bury 10,000 miles of its power lines in an effort to prevent its fraying grid from sparking wildfires when electrical equipment collides with millions of trees and other vegetation across drought-stricken California. The daunting project announced Wednesday aims to bury about 10 percent of PG&E’s distribution and…
US Retailers Scramble to Stock Shelves as Children Head Back to School
LOS ANGELES/NEW YORK—At Stationery and Toy World, a family-owned shop in New York’s Upper West Side, manager Gary Rowe is having difficulty getting all the pens and folders he ordered for the important back-to-school season. His usual vendors have low stocks of Pilot’s erasable FriXion pens and Paper Mate Flair marker pens— and prices are…
Railroad Industry Worried About Biden Executive Order
An executive order signed by President Joe Biden that could force railroads to allow other operators to use their tracks could reduce competition and increase costs, according to industry experts. Biden’s order last week in part called on the independent Surface Transportation Board to consider what the Association of American Railroads calls “forced switching” rule….
American Airlines Beats Second-Quarter Revenue Estimates as Travel Recovers
American Airlines Group beat Wall Street estimates for second-quarter revenue on the back of a recovery in demand as leisure travel rebounds from pandemic lows. The airline reported positive cash flow in the second quarter for the first time since the COVID-19 pandemic began, reversing a trend of cash burn of about $100 million a…
Ford’s Europe Sales up 43.7 Percent in the Second Quarter
By Jordyn Grzelewski From The Detroit News Ford Motor Co. netted 242,618 sales in Europe in the second quarter, for a 43.7 percent increase over the same period last year. Meanwhile, Ford’s European sales of more than 500,000 vehicles through the first half of the year represent a 22.6 percent improvement over last year, when…
FirstEnergy to Pay $230 Million in Settlement in Ohio Bribery Case
CINCINNATI—Federal authorities say Akron-based FirstEnergy Corp. has agreed to a settlement that calls for the company to fully cooperate and pay a $230 million fine as part of a sweeping bribery scheme. The U.S. Attorney’s Office in Cincinnati and the FBI are scheduled to hold a news briefing later Thursday morning on the deferred prosecution…
Uber’s Trucking Unit to Buy Logistics Planner Transplace for $2.25 Billion
Uber Technologies Inc’s trucking business is buying transportation logistics company Transplace for about $2.25 billion from private equity firm TPG Capital, in a deal that is expected to speed up the unit’s path to profitability. The acquisition, announced by Uber on Thursday, consists of up to $750 million in the company’s common stock and the…
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