Category: Business

U.S. imports of goods broke a record in January and pushed the trade deficit 1.9% higher as the coronavirus pandemic distorted global commerce. The gap between the goods and services the United States sold and what it bought abroad rose to $68.2 billion from $67 billion in December, the Commerce Department reported Friday. Exports rose […]

U.S. shale producers are taking advantage of the oil market’s rally to levels not seen in nearly a year by locking in prices for future sales, sources familiar with the matter said. U.S. crude futures this month jumped above $50 a barrel to the highest since February. The rally has sparked optimism among shale companies, […]

Dating app Bumble, which is backed by private equity firm Blackstone Group, on Friday made public its regulatory filing for an initial public offering, revealing steady revenue growth and higher operating costs that resulted in a loss. Bumble Inc’s plans to go public come at a time when companies are seeking to capitalize on what […]

France’s Total SE on Friday became the first major global energy company to quit the main U.S. oil and gas lobby due to disagreements over its climate policies and support for easing drilling regulations. Total said it would not renew its 2021 membership with the American Petroleum Institute (API) following a review of the lobby’s […]

Citigroup Inc reported quarterly profit that beat market expectations on Friday, but a downbeat revenue and expense outlook showed it will take more than a year for the emerging economic recovery to trickle through to the bank’s bottom line. Bets on an economic recovery hinged on coronavirus vaccine roll outs and massive fiscal stimulus allowed […]

A federal judge denied Apple Inc’s bid to set aside or reduce a $502.8 million patent infringement verdict favoring VirnetX Holding Corp, and awarded interest and royalties that could boost Apple’s total payout in two lawsuits above $1.1 billion. In a decision issued on Friday, U.S. District Judge Robert Schroeder in Tyler, Texas rejected Apple’s […]

State attorneys general are planning a third lawsuit against Alphabet Inc’s Google, this one focused on the search and advertising giant’s Play Store for Android phones, according to two sources familiar with the matter. The lawsuit is expected to be filed in February or March, the sources said, and it would follow complaints about Google’s […]