The fall from grace last week for oil may only get worse from here. In a move that came just prior to a market dive that sent prices below $50 a barrel for the first time since December, according to U.S. Commodity Futures Trading Commission data, investors cut bullish wagers on West Texas Intermediate crude…
By installing $25 million worth of battery storage within 100 days, and offering it for free if he missed the target, Tesla Inc boss Elon Musk on Friday offered to save Australia’s most renewable-energy dependent state from blackouts. Fears of more outages across the national electricity market due to tight supplies were stoked and a…
The Japanese government is prepared to block a sale to bidders it deems a risk to national security with respect to the sale of Toshiba Corp’s flagship memory chips unit, reported news agency Reuters quoting sources. The sources further said that this would give a major advantage to U.S. suitors. Sources said that if needed,…
A senior British diplomat is of the view that with the economy having the potential of growing as much as 10 percent, Myanmar could be the next Vietnam or Thailand. However challenges including a shortage of power supply, lack of policy clarity and high cost of doing business, have to be overcome by the Southeast…
In a sign that owner Toshiba Corp is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial maelstrom, U.S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys. The nuclear engineering company had not yet taken a decision on a bankruptcy filing but had…
Intended to fill a gap in its lineup that Airbus Group SEis exploiting by racking up order after order for its A321neo, Boeing Co. is nearing a decision to build a longer 737 Max targeted for lengthy routes such as Boston to Los Angeles. Boeing’s newest single-aisle plane can’t come soon enough, for one key customer, Air…
Renewing concerns about the security of consumer electronics and embarrassing yet another U.S. intelligence agency, anti-secrecy group WikiLeaks published what it said were thousands of pages of internal CIA discussions about hacking techniques used over several years. In order to capture text and voice messages before they were encrypted with sophisticated software, CIA hackers could…
Despite wide spread speculations that the anticipated revision of the North American Free Trade Agreement (NAFTA) could result in tariffs being slapped on trade and products between the U.S. and Mexico, especially those that are produced in Mexico and exported to the U.S., car maker Renault-Nissan has clarified that it has have no plans whatsoever…
In a row over who should shoulder billions of dollars in liabilities sparked by delays and cost blow-outs, producers in Australia are now locked in legal battles with contractors after splurging $200 billion building the world’s biggest gas export plants. Among energy heavyweights trying to claw back funds are Impex Corp. and Santos Ltd. along with…
Three central Illinois facilities of manufacturer Caterpillar were raised by federal law enforcement officials on Thursday. The raids, being conducted as part of an investigation, may be related to business with its Swiss subsidiary CSARL, the company said. Caterpillar is one of the world’s largest makers of construction and other heavy equipment and its Peoria, Illinois, headquarters…
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