The latest round of European sanctions on Russian fuel exports has sent crude product tanker rates jumping 400%, as hundreds of carriers switched from hauling for traditional producers to hauling for Russia.
The death toll from a series of devastating earthquakes in Syria and Turkey last week rose to 41,000, with total damages probably surpassing $20 billion.
The average cost to ship a container from China to the U.S. West Coast fell from $8,607 last April to just $2,618 in January, leading many to believe long-term contract rates will plummet during renegotiations later this month.
Shipping industry officials are growing impatient with a lack of progress on West Coast port labor talks since the two sides reached a tentative agreement last July.
The Brotherhood of Locomotive Engineers and Trainmen reached tentative agreements with several railroads, including Canadian Pacific and Kansas City Southern.
Norfolk Southern is facing regulatory scrutiny following the derailment of a train carrying hazardous chemicals in Ohio.
Retail sales jumped 3% in January, the biggest monthly increase in two years.
The New York Fed says the U.S. economy may need higher borrowing costs for several years to tame inflation and prevent its resurgence.
Slightly easing U.S. inflation of 6.4% in January will probably keep the Federal Reserve on track to raise rates again in March, economists say.
Recession concerns are waning among corporate finance chiefs, but they remain concerned about challenges such as supply-chain disruptions, inflation, labor shortages and the impact of new COVID-19 variants.
U.S. small-business confidence improved in January, with a widely tracked index rising 0.5 points to a total of 90.3, which was still below the index’s nearly 50-year average of 98.
Airbnb recorded its first-ever annual profit last year of $1.9 billion, boosted by a rise in cross-border travel during the fourth quarter.
As the U.S. housing market cools, some real estate agents are returning to their previous careers or taking on side jobs to supplement their income, to offset a drop in commissions.
Wendy’s plans to cut operational greenhouse-gas emissions by 47% by the end of the decade.
The White House outlined how nonprofits can access money from the Greenhouse Gas Reduction Fund, a $27 billion “green bank” formed as part of last year’s landmark climate act to support greenhouse gas reduction initiatives.
Euro zone employment surged more than expected to a record-high last quarter, underscoring a surprisingly resilient economy.
U.K. inflation in January eased to a better-than-expected annualized rate of 10.1%, as core inflation fell to 5.8% and the Bank of England signaled it may soon pause its interest rate increases.
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