surging

Oil prices are staying north of $100 a barrel. Natural gas prices are more than twice as high as a year ago. Europe is looking to replace the oil and gas it gets from Russia as bans and embargoes imposed because of the country’s invasion of Ukraine kick in. Sounds like a set-up for an energy boom in the U.S. and in Colorado, one of the country’s leading oil and gas producers. But don’t count your barrels of oil before they’re pumped. Oil and gas producers are not immune from the supply-chain disruptions and labor…

This illustration shows the accretion disk, corona (pale, conical swirls above the disk), and supermassive black hole of active galaxy 1ES 1927+654 before its recent flare-up. Credit: NASA/Sonoma State University, Aurore SimonnetSomething weird is going on in the galaxy known as 1ES 1927+654: In late 2017, and for reasons that scientists couldn’t explain, the supermassive black hole sitting at the heart of this galaxy underwent a massive identity crisis. Over a span of months, the already-bright object, which is so…

Europe’s economy slowed in May and flagging factory orders point to a further weakening over coming months, according to business surveys released Tuesday. Europe and Japan appear to be in the midst of a transition, with services still being buoyed by the gradual lifting of pandemic restrictions while manufacturing faces rising production costs and signs of weakening demand. In reaction, some global businesses have begun planning for a significant slowdown or a recession. Data firm S&P Global said its…

Breadcrumb Trail Links News Canada Insp. Rich Harris, head of the Toronto police Hold Up Squad, said his unit has investigated 60 violent carjackings already this year while there were 59 in all of last year Toronto Maple Leafs forward Mitch Marner was carjacked on Monday by three armed suspects and handed over his black Range Rover. Police say people should not resist if confronted by a carjacker. Photo by Hans Deryk/The Canadian Press/File Article content Toronto Maple Leafs’ winger Mitch…

DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the world’s most valuable company benefits from surging oil prices following Russia’s invasion of Ukraine.Saudi Arabian Oil Co., commonly known as Aramco, said its net income surged 82% to $39.5 billion in the first three months of 2022. Last week, it overtook Apple Inc. as the world’s most valuable company, with its market value rising to $2.4 trillion. DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the world’s most valuable company…

HONG KONG—As inflation soars around the world, the world’s second-largest economy has kept it at bay.Consumer prices in China increased just 1.5% in March from a year earlier, after rising 0.9% in 2021 from the year before.By contrast, the U.S. annual inflation rate was 8.5% in March and 7.5% in 2021, the steepest since 1982. In the eurozone, annual inflation reached a record 7.5% in April. Some 71% of 109 emerging and developing economies experienced 5% or higher inflation in 2021, twice as large as at the end of 2020,…

WASHINGTON — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. Friday’s jobs report from the Labor Department showed that last month’s hiring kept the unemployment rate at 3.6%, just above the lowest level in a half-century. The economy’s hiring gains have been strikingly consistent in the face of the worst inflation in four decades. Employers have added at least…

Tesla’s gross margin and profits are soaring to record highs as it is raising prices, which the automaker has blamed on rising costs. The company felt the need to explain itself. Over the last few years, one of the biggest storylines around the auto industry, and many other industries, has been price increases. Tesla has been no exception with almost a dozen price increases on its vehicles over the last two years. On several occasions, the automaker justified the price increases with increased costs due to…

Amazon made a boatload of money during the first quarter of 2022. But investors, having grown used to Amazon’s rocket-like trajectory during the pandemic, haven’t quite adapted to the fact that it’s no longer accelerating quite so fast. Despite notching $116.4 billion in sales from January through March of this year — up nearly 8 billion year over year — Amazon’s stock took a dive in after-hours trading, falling by about 10 percent before stabilizing a bit higher. The problem wasn’t that Amazon had underperformed in…