Posts by Amelia Frost
Strait of Hormuz Tanker Traffic Erodes Further as Oil Prices Rise
Just 13 ships passed through the Strait of Hormuz on Wednesday, the first full day of the reinstated U.S. naval blockade on maritime traffic to and from Iranian ports in the vital waterway. Traffic through the strait declined markedly, down from 21 ships the day before, according to Kpler, a maritime data firm. Most of…
Read MoreDiesel Hits $5 a Gallon Again, Up 33% Since the Iran War
The average price of diesel in the United States rose above $5 a gallon on Thursday, up 33 percent since the start of the war with Iran as the reignited conflict continued to inflate energy prices. The average national price on Thursday was $5.01, according to the AAA motor club, up 7 cents from the…
Read MoreAmericans Say They Need $1.2 Million to Retire Comfortably. Most Don’t Think They’ll Ever Get There
Americans believe they need about $1.2 million to retire comfortably, but a growing number doubt they will ever reach that goal as inflation, debt and day-to-day expenses continue to squeeze household budgets. A new survey from global investment manager Schroders found that while workers recognize the importance of building retirement savings, many expect to fall…
Read MorePayPal Receives $53 Billion Takeover Offer Involving Stripe
The payments company Stripe and the private equity firm Advent International have offered to acquire PayPal for about $53 billion, a deal that could reshape the financial technology industry, three people familiar with the bid said on Wednesday. PayPal, the person-to-person money transfer system, has faced pressure from newer financial technology giants like Apple Pay.…
Read MoreU.S. Seismologist Visited China To Study North Korean Nuclear Tests. Now He Is Accused Of Spying And Faces Life In Prison
A Chinese-born U.S. citizen and seismologist faces spying charges in China for detecting and analyzing North Korean nuclear tests. Reuters reported that Youlin Chen, 54, has been detained for two years in China and is expected to be tried on spying charges, potentially facing life in prison. Eric Lebson, a former U.S. national security official…
Read MoreTop Tax Official to Leave Trump Administration
The top tax policy official at the Treasury Department, who has also been filling in as the top lawyer at the Internal Revenue Service, is set to depart the government, according to three people familiar with the change, widening the leadership hole in the nation’s tax system. Ken Kies, a longtime lobbyist, was confirmed last…
Read MoreVolkswagen is Fighting Rising Costs and Global Competition. Its CEO Says 100,000 People Could Be Laid Off To Reorganize
Volkswagen CEO Oliver Blume has warned employees that the German automotive giant may need to eliminate roughly 50,000 additional jobs on top of previously announced workforce reductions, underscoring the scale of the company’s effort to restore profitability as it grapples with mounting costs, global competition and trade pressures. According to an internal memo seen by…
Read MoreHow Wealthy People Are Getting to World Cup Games
For the ordinary fútbol fan, the nine-mile journey from Manhattan to the World Cup stadium in New Jersey is as appealing as a trip to the dentist. There are hours waiting in sunbaked security switchbacks outside Penn Station before squeezing onto yellow school buses or NJ Transit trains with sweaty strangers for the ride to…
Read MoreStates Prepare Lawsuit to Block Paramount’s Merger With Warner Bros.
A group of states are preparing to file a lawsuit to block Paramount’s acquisition of Warner Bros. Discovery as soon as this week, according to four people briefed on the plans, a legal challenge that would create a major obstacle for one of the biggest media mergers in history. A draft of the lawsuit currently…
Read MoreRussian Missiles Target Kyiv Drone Factory Hours After Lindsey Graham’s Visit
A Ukrainian drone production facility in Kyiv was among several defence-industrial sites targeted in a large Russian missile and drone strike on the same day as US Senator Lindsey Graham toured SkyFall’s factory in the city and described it as ‘state-of-the-art’ and ‘far more advanced than anyone else on the planet’. The timing of the…
Read MoreKash Patel Abruptly Scraps Private Flight To Visit Girlfriend After Reportedly Being Summoned By ‘Frustrated’ White House Officials
FBI director Kash Patel abandoned a planned flight to see his girlfriend perform in Chicago on the same Friday he turned up at the White House, in an episode the Trump administration insists had nothing to do with any frustration over his conduct. MS NOW reported that Patel abruptly cancelled the trip on the morning…
Read MoreKansas City, the Smallest World Cup Host, Has the World at Its Feet
The Dutch, donning orange and hopping with happy feet, turned the streets of Kansas City into an undulating conga line. The Argentines like to sing before late-night burgers at Winstead’s, a city landmark. The English? On social media, they name-check cherished taverns — the Peanut and Johnnie’s on Seventh — like natives. Over the past…
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