BP experienced a decline in shares on Tuesday following the announcement of an expected impairment of up to $2 billion in the second quarter. The company indicated that lower refining margins and weak oil trading performance will impact its second-quarter results, set to be released on 30 July. The drop in shares amounted to 2.6%
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San Francisco is facing a major struggle in its commercial real estate market, with the vacancy rate for office spaces reaching a record of 34.5% in the second quarter. This is a significant increase from the previous quarters and years, with the average asking rent dropping to the lowest it has been since late 2015.
As President Joe Biden faces a critical juncture in his presidency, there are growing doubts about his potential reelection bid. According to Stifel, there is a significant 40% chance that Biden will decide not to seek another term in office. This assessment comes as Congress returns from its Fourth of July recess, marking a pivotal
As you progress through your career and start thinking about retirement, it is crucial to have a clear understanding of where you are investing your money. Financial experts emphasize the importance of being aware of the tax implications associated with different types of investment accounts. Many individuals have a significant portion of their savings tied
Boeing, a prominent player in the aerospace industry, recently made headlines by agreeing to plead guilty to criminal fraud pertaining to the fatal 737 Max crashes. This decision not only tarnishes Boeing’s reputation by branding it as a felon but also raises concerns about its ability to continue conducting business as usual. The plea deal,
After months of negotiation, Paramount Global has agreed to merge with Skydance, marking a significant shift in leadership. The Redstone family, which has long controlled Paramount, will step away from control of the movie studio and media company. The new leadership team will consist of Ellison as CEO and Shell as president. This change in
Losing my wallet was a wake-up call that made me realize how vulnerable I was to identity theft and financial loss. As a CNBC intern working on personal finance stories, I thought I was well-informed about protecting my money and identity. However, the experience of losing my wallet taught me a few valuable lessons that
The current state of the U.S. airline industry is characterized by record demand for air travel, but this demand is not translating into record profits for airlines. Despite the forecast for increased demand and revenue, airlines are facing challenges that are impacting their bottom lines. Higher labor and other costs have eaten into profits, forcing
In the past year, there has been a significant surge in employment scams that target unsuspecting job seekers. Criminals are now leveraging artificial intelligence to carry out their schemes, resulting in a 118% increase in consumer reports of job scams in 2023 compared to the previous year. These scammers often pose as recruiters and post
Micron Technology (MU) has recently garnered attention as a top pick by Wall Street analysts. The company’s impressive performance in the fiscal third quarter, beating both top and bottom-line expectations, has investors excited about its future prospects. With the ongoing artificial intelligence (AI) wave driving demand, Micron Technology is poised for continued growth. Goldman Sachs