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LONDON—Commodities giant Glencore GLNCY -1.05% PLC said Friday it made more money trading oil, metals and other commodities in six months than it had expected to make all year, citing unprecedented volatility in markets in the wake of the global recovery from the pandemic and the invasion of Ukraine. Glencore said its trading division expects to post half-year earnings before interest and taxes of more than $3.2 billion, at the top end…

Most top executives say they think a recession is looming or already here, according to a new survey, reflecting a rapid deterioration of the economic outlook among business leaders.More than 60% of CEOs expect a recession in their geographic region in the next 12 to 18 months, according to a survey of 750 CEOs and other C-suite executives released Friday by the Conference Board, a business research firm. An additional 15% think the region of the world where their company operates is already in a recession.…

ADELAIDE, Australia—The world’s largest mining company abandoned the sale of its last thermal coal mine, and said it would aim to close the Australian pit in 2030. Despite record-high coal prices, BHP Group Ltd. said it failed to find a buyer for the Mt Arthur mine, which is one of Australia’s biggest coal operations but is technically complex and will have a large cleanup bill when it closes. The decision was welcomed by some activists, who have been urging big miners to…

Harold Hamm, the billionaire fracking pioneer who helped launch the U.S. shale boom, is looking to take Continental Resources Inc. CLR 14.11% private, offering about $4.3 billion in cash to buy the portion of the company’s shares he and his family don’t already own. Mr. Hamm, 76, and other members of his family collectively hold about 83% of Continental, the Oklahoma City-based oil producer he ran for decades as chief executive, fueling a…

Millions of electric vehicles will be scrapped in the coming years. For the batteries that power them, that won’t be the end of the road. Eventually, auto makers and recycling companies want to harvest valuable materials from old EV batteries to make new ones. But before they are recycled, used batteries could be given a second life on the electricity grid. Millions of electric vehicles will be scrapped in the coming years. For the batteries that power them, that won’t be the end of the…

SEOUL—A weeklong trucker strike in South Korea over fuel costs and wages is tying up supply chains in one of Asia’s export powerhouses.Thousands of truckers are refusing to drive, while deliveries by truckers who are working have been thwarted by protesters—shutting steel plants, disrupting car production and delaying shipments of raw materials needed for semiconductors. The cost to key industries over roughly the past week comes to about 1.6 trillion won, equivalent to about $1.2 billion, the Ministry of Trade, Industry…

PARIS—For decades, European industry relied on Russia to supply low-cost oil and natural gas that kept the continent’s factories humming.Now Europe’s industrial energy costs are soaring in the wake of Russia’s war on Ukraine, hobbling manufacturers’ ability to compete in the global marketplace. Factories are scrambling to find alternatives to Russian energy under threat that Moscow could abruptly turn off the gas spigot, bringing production to a halt.…

Even if you vowed never to cruise again after Covid-19, there might just be a price to tempt you. Mass-market cruise lines need you to bite. Amid sky-high hotel prices, the best deals in lodging this summer are at sea level—literally. Cruise-review site Cruise Critic noted pricing for summer cruises is currently as low as it has been since the sector’s 2021 restart. The current average cost of a five-night Caribbean cruise begins at $100 a day, according to Cruise Critic, including…

Lawyers are investigating Meta Platforms Inc's outgoing operations chief Sheryl Sandberg's use of company resources over several years, the Wall Street Journal reported, citing people familiar with the matter. Several employees have been interviewed in connection with the investigation by Facebook-parent Meta, the WSJ reported, adding that the probe has been underway since at least last fall. Meta and Sandberg did not immediately respond to Reuters' requests for comment. Among the activities being scrutinized is the work…

Wall Street Journal: Sources: a Meta probe that began in Fall 2021 is investigating Sandberg's use of corporate resources for personal projects, including her Lean In foundation — Review focuses on the extent to which staffers worked on her personal projects — The lawyers investigating Facebook operating … Wall Street Journal: Sources: a Meta probe that began in Fall 2021 is investigating Sandberg's use of corporate resources for personal projects, including her Lean In…