Ford Motor Co. halted the production and shipment of its F-150 Lightning electric pickup after it discovered a potential battery failure during pre-delivery check up inspections. The news of the suspension in deliveries of the automaker’s electric vehicle (EV) version of its classic pickup truck was first announced on Feb. 14 by Motor Authority. “We are…
Ford Halts Production and Shipment of Electric F-150 Lightning Pickup Due to Battery Failure
February 14, 2023
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Business & MarketsCompanieseconomyelectric vehicleenergyFord F-150 LightninginflationInvestmentMarketsproduction haltUS
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US Intends to Sell 26 Million Barrels of Oil From Strategic Petroleum Reserve, to Lowest Level in 40 Years
The Biden administration plans to withdraw 26 million barrels of oil from the Strategic Petroleum Reserve (SPR) this fiscal year, after a sale of 180 million last year, effectively pushing the reserves to its lowest level in four decades. The sale from SPR is set to be delivered to the market between April 1 and…
Oil Prices Dip on US Crude Reserve Release, Inflation Pressure
February 14, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices dipped on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve, while traders look out for U.S. inflation data for further queues. Brent crude futures fell 80 cents, or 0.9 percent, to $85.81 per barrel by 1003 GMT, while U.S. crude futures fell $1.05, or 1.3…
Global Shares Edge Higher Ahead of US Inflation Data, Yen Firms
February 14, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Global shares edged higher on Tuesday, tracking a rebound on Wall Street ahead of a key U.S. inflation report and speeches by Federal Reserve members, while the yen recouped losses after Japan nominated a new central bank governor. European shares cheered an upbeat handover from Asia, with the pan-European STOXX 600 up 0.5 percent, hovering…
Climate Change Now a ‘Credible Threat’ Alongside Terrorism, Cyberattacks: Home Affairs Department
February 13, 2023
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Alex AnticAustraliaAustralian Department of Home AffairsBusiness & Marketsclimate changeenergyHome AffairsInternationalMike PezzulloMurray WattsWorld
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Climate change risks rank alongside counterterrorism and cyber security as a key priority for Australia’s home affairs department, according to a recent estimate hearing. On Feb. 13, the secretary for home affairs, Mike Pezzullo, faced questioning from Senator Alex Antic, who asked whether the department’s focus on climate change risks was “comedy [or] parody?” Pezzullo…
‘What’s Going to Happen to the Economy?’ Billionaire Challenges Government’s Rejection of Coal Mine
February 13, 2023
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AustraliaBusiness & Marketsclimate changeClive Palmercoal mineenergyEnvironmentGreat Barrier ReefTanya PlibersekWorld
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Australian mining tycoon Clive Palmer has said the government’s cancellation of his company’s proposal to build a coal mine in central Queensland will be a blow to the region’s economy. Federal Environment Minister Tanya Plibersek on Feb. 9 announced she had decided to reject Palmer’s proposed mine in the Styx Coal Basin, to be located 130…
Energy Australia’s $1.5M Fine After Worker’s Death
Energy Australia has been fined $1.5 million (US$1.03 million) after a veteran Yallourn power station worker suffered fatal burns to 90 per cent of his body in an electrical explosion. Graeme Edwards was highly trained and had worked at the power station for more than 30 years when he volunteered to connect a high-voltage cable…
Oil Falls on Demand Fears as Fed ‘Make or Break Moment’ Approaches
February 13, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slumped by about 1 percent on Monday as investors focused on short-term demand concerns ahead of key U.S. inflation data. Brent crude futures fell $1.14, or 1.3 percent, to $85.25 a barrel by 1005 GMT after a 2.2 percent gain on Friday. U.S. West Texas Intermediate crude was down $1.11, or 1.3 percent,…
Shares Steady, Dollar Gains Ahead of US Inflation Data
February 13, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—Global shares steadied, while the dollar rose on Monday, ahead of U.S. inflation data that could define the outlook for global interest rates, while news that the U.S. air force had shot down another airborne object created some geopolitical uncertainty. Officials declined to say whether this object, which was spotted along the Canadian border and…
‘Populist Rhetoric’: Major Coal Miner Lambasts Government for Limiting Exports
February 12, 2023
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AustraliaAustralian coalBusiness & Marketscoaleconomic policiesenergyGold and CommoditiesInternationalMarketsMatt KeanNew South WalesWhitehaven CoalWorld
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Dreams of creating an “Elysian fields of a renewable economy” have created a potential energy shortfall in New South Wales (NSW) which has forced the government to limit how much coal miners can send overseas, says leading miner Whitehaven Coal. The government is set to impose a quota on mining firms to reserve 10 percent of…
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