Ecopetrol, Colombia’s state-owned oil company, said it will drill as many as 100 shale wells in the Permian Basin by the and of next year in an alliance with Occidental.
Bankruptcies in the U.S. energy industry are up 62% this year.
Wildfires have consumed more than 4.6 million acres in 10 western states. Hazardous air covers much of the west, with Portland, Seattle, Los Angeles and San Francisco ranked among the most polluted cities in the world.
Sally intensified to a Category 2 Hurricane as it slowed and tipped eastward, now expected to strike the Gulf Coast in Mississippi during the next 24 hours. A hurricane warning stretched from New Orleans to the Alabama-Florida border. The storm is moving at just 2 miles per hour, collecting water over the Gulf that could cause life-threatening flooding.
Five tropical cyclones are swirling in the Atlantic Ocean for only the second time in recorded history — hurricanes Paulette and Sally, tropical storms Teddy and Vicky, and tropical depression Rene.
Infections in Ingham County, Michigan, home to state capital Lansing and Michigan State University, have spiked by 52% since late August, prompting local officials to issue quarantine mandates for many of the school’s fraternities and sororities.
Ohio passed a law providing legal immunity to businesses, schools, healthcare providers and other institutions from legal liability for unintentional harm caused in responding to the pandemic.
Only 0.2% of the Federal Reserve’s $600 billion Main Street Lending Program has been issued, as major banks have shunned participation or imposed unattractive terms, posing risks to the economic recovery.
Apple’s latest Apple Watch, debuted at the company’s annual launch event today, can measure blood oxygen levels.
3M said its healthcare sales in August rose 23% year over year.
Thermo Fisher is investing over $140 million to expand production of laboratory consumables amidst historic demand for testing and lab supplies.
Citibank and Wells Fargo are planning job cuts to counter expected loan losses as the pandemic and economic impacts persist.
JP Morgan Chase is urging a return to offices after determining that productivity and “creative combustion” have suffered during the work-from-home era.
Amazon plans to hire 100,000 more hourly workers in North America on top of the 175,000 new hires it has already made during the pandemic. Separately, the company announced last week it is hiring 30,000 office and tech workers.
Delta Air Lines, losing $27 million a day, will borrow $6.5 billion against its SkyMiles frequent flier program, joining American Airlines and United Airlines in borrowing against their loyalty programs.
In another symbol of the ascendance of the digital economy over bricks-and-mortar retail, Facebook is buying the just-built headquarters of REI near Seattle before the outdoor equipment retailer had a chance to move in.
Hershey is offering online advice for safe trick-or-treating, modifying its product offering and starting promotions early in an effort to salvage its Halloween season, which accounts for 10% of the candymaker’s annual sales.
In December, PepsiCo is introducing Driftwell, a new beverage to help pandemic-stressed consumers sleep.
The U.S. State Department lowered its travel warning for Mexico from the highest, Level 4, to Level 3. Restrictions on border crossings are scheduled to expire on September 21.
Retail sales in China grew 0.5% in August, the first year-over-year gain of the year.
The U.K. unemployment rate rose in July for the first time since lockdowns were imposed in April, putting pressure on the government to extend expiring employment protections as the country faces a second COVID-19 wave.
The boards of Fiat Chrysler Automobiles (FCA) and Peugeot Citroen agreed to modify the pending merger agreement between the two companies, including an FCA dividend cut, to preserve cash during the pandemic.
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