The financial news that actually matters
BP reported first-quarter profit of $3.2 billion, more than double what the company earned in the same period a year ago, as the war involving Iran choked global oil supplies and pushed U.S. gasoline prices to their highest level since the conflict began. The results, disclosed in a quarterly filing with the Securities and Exchange…
When Russia’s new tax year began on January 1, 2026, tens of thousands of small businesses woke up to a reality they had spent months dreading. A higher value-added tax rate and a drastically lower income ceiling for VAT exemptions under the simplified taxation system (USN) had taken effect simultaneously, and for firms operating on…
Gasoline prices jumped 21.2% in a single month. The Consumer Price Index hit 3.3% year-over-year. And Ray Dalio, the billionaire founder of Bridgewater Associates, chose that moment to post a blunt warning on LinkedIn: the U.S. economy is sliding toward stagflation, and investors banking on Federal Reserve rate cuts are making a dangerous bet. Dalio’s…
Frontier Airlines and Avelo Airlines are pressing Congress to temporarily suspend two federal ticket taxes, arguing the move would save low-cost carriers roughly $2.5 billion and cover about one-third of the added jet fuel costs that have eaten into their finances over the past year. The carriers sent their request to congressional leaders through a…
JPMorgan urges investors to keep buying dips even as stocks hit highs The S&P 500 closed above 5,900 for the first time in mid-April 2026, extending a year-to-date gain of roughly 10%, and JPMorgan Chase’s top equity strategist says the playbook is simple: keep buying every pullback. Mislav Matejka, the bank’s head of global equity…
The S&P 500 closed at a record high on Thursday, April 24, 2026, capping its strongest weekly gain of the year and pushing the benchmark index past every previous peak in its history. The milestone, confirmed by the Associated Press, arrived during a week when several other major U.S. indexes also touched fresh highs. For…
JetBlue Airways spent roughly $2.7 billion on jet fuel in fiscal 2024, making it the airline’s single largest operating expense. That same year, the carrier wrote a $69 million check to Spirit Airlines just to walk away from a merger a federal judge killed. Now, as JetBlue tries to convince Wall Street that its JetForward…
Shell PLC is making its biggest bet on North American natural gas in more than a decade. The European energy giant has agreed to acquire ARC Resources Ltd. in a deal valued at roughly C$16.4 billion (about US$12 billion in equity), a transaction that would vault Shell into the top tier of western Canadian gas…
Somewhere in Meta’s long-term energy planning, someone decided that the sun on Earth’s surface wasn’t enough. The company has agreed to purchase up to 1 gigawatt of electricity generated by solar panels in orbit and beamed down to the ground, a deal with startup Overview Energy that stands as the most unconventional power bet any…
Nvidia Corp. surged roughly 4% in a single session in May 2026, pushing its market capitalization to a record near $5.3 trillion and widening its lead as the world’s most valuable publicly traded company. Based on approximately 24.5 billion diluted shares outstanding reported in the company’s most recent annual filing, the record close implied a…