After the US aircraft manufacturer announced a production problem impacting its 737 Max planes, Boeing stock fell more than 6%. The aviation behemoth claimed that a supplier had discovered that the fittings on the backs of the aircraft were not installed in accordance with the specification. According to Boeing, there was no “immediate safety…
According to the Institute for Energy Security (IES), if the Public Utilities Regulatory Commission (PURC) had not been overly cautious with the contribution of hydro power, which is the cheapest source in the energy mix, electricity consumers could have been spared the burden of having their tariffs increased by as much as 30 percent. The…
Amazon, a major online retailer, has announced plans to close three warehouses in the UK, potentially jeopardizing 1,200 employment. The business did add that during the following three years, it intended to open two new centers and create 2,500 jobs. The three warehouses that are closing are located in the west of Scotland at…
Following fresh economic data that confirmed expectations of a less hawkish Federal Reserve, gold rose on Friday as US Treasury yields and the dollar fell, positioning the metal for a third straight weekly gain At 11:45 a.m. ET, spot gold increased 1.5% to $1,861.24 an ounce after declining by almost the same percentage point the…
After posting enormous global profits in 2017, Shell has announced that it will pay tax in the UK for the first time since that year. The energy company predicted that its profitability in the UK and the EU would “take a hit” of about $2 billion (£1.7 billion) in the year’s last three months. To…
To dig for oil in Afghanistan’s north, the Taliban government will negotiate a contract with a Chinese company. Since the Taliban took over control of Afghanistan in 2021, this would be the first significant energy extraction arrangement with a foreign company. The 25-year agreement highlights China’s economic presence in the area. Officials from the Taliban…
