Latest Energy industry News

Stocks move sideways on Wall Street after record-setting day

Apr. 24, 2019 10:35 AM EDT

NEW YORK (AP) — U.S. stocks followed a record-setting day with more subdued trading Wednesday as investors continue digesting a steady flow of corporate earnings and a potential break in the trade war between the U.S. and China. Stocks are essentially stalling and bond prices are rising as investors pull...

Ford to invest $500M in electric vehicle startup Rivian

Apr. 24, 2019 9:50 AM EDT

DETROIT (AP) — Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings. Ford Motor Co. will become a minority partner in Rivian, which is based outside of Detroit and recently...

Markets Right Now: Stocks open slightly lower on Wall Street

Apr. 24, 2019 9:44 AM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 9:35 a.m. Stocks are opening slightly lower on Wall Street, a day after the S&P 500 surpassed the record high close it set in September. Several companies were making big moves after reporting their quarterly results...

Rehab patients' unpaid work for big companies likely illegal

Apr. 24, 2019 9:22 AM EDT

A nationally renowned drug rehab program in Texas and Louisiana has sent patients struggling with addiction to work for free for some of the biggest companies in America, likely in violation of federal labor law. The Cenikor Foundation has dispatched tens of thousands of patients to work without pay at more than...

Tesla CEO heads down perilous road in pursuit of profit

Apr. 24, 2019 7:43 AM EDT

Tesla has lost nearly $6 billion since setting out to revolutionize the auto industry 15 years ago, but CEO Elon Musk foresees a profitable future fueled in part by a ride-hailing service made up of electric cars driven by robots. The mind-blowing concept is something Musk first outlined in a master plan three...

Iranian leaders defiant in face of Trump's move on sanctions

Apr. 24, 2019 7:35 AM EDT

TEHRAN, Iran (AP) — Iranian leaders are defiant in the wake of President Donald Trump's decision to impose sanctions on countries that import Iranian oil, vowing to respond to America's move. The U.S. announced the sanctions in November but some countries got temporary waivers that allowed them to import...

China tells US to avoid 'wrong moves' over Iran oil controls

Apr. 24, 2019 5:06 AM EDT

BEIJING (AP) — China has told Washington to avoid "wrong moves" that hurt Chinese interests following a U.S. threat to impose sanctions on buyers of Iranian oil. A foreign ministry spokesman, Geng Shuang, said Wednesday that Beijing opposes the Trump administration's "unilateral sanctions and so-called...

Judge OKs bankrupt PG&E's plan for $235 million in bonuses

Apr. 23, 2019 8:58 PM EDT

SAN FRANCISCO (AP) — A federal judge approved Pacific Gas & Electric Corp.'s plans Tuesday to pay $235 million in employee bonuses this year, despite the California utility's bankruptcy and objections from lawyers of victims of the state's massive wildfires. The Sacramento Bee reports that U.S....

S&P 500, Nasdaq close at record highs as earnings roll in

Apr. 23, 2019 7:54 PM EDT

The S&P 500 hit an all-time high Tuesday, marking the stock market's complete recovery from a nosedive at the end of last year. The benchmark index's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S....

Oil prices climb in wake of Iranian oil sanctions decision

Apr. 23, 2019 5:55 PM EDT

NEW YORK (AP) — Global oil prices are rising in the wake of President Donald Trump's decision to impose sanctions on nations that import Iranian oil and could eventually climb to levels that would impact American consumers. Analysts said Tuesday that by taking Iranian crude off the market, the price of...