Business

FTC officials say 7-Eleven purchase of Speedway chain likely illegal despite closing

The completion of 7-Eleven’s purchase of thousands of Speedway gas and convenience stores is potentially illegal and may raise competitive concerns in hundreds of local U.S. markets, two top U.S. Federal Trade Commission officials said as a dispute between the agency and companies broke into the open on Friday. Marathon Petroleum Co (MPC.N), which owned […]

Business

Gold Price Drops Today; Silver Down for Third Straight Day. Should You Invest?

Gold prices in the Indian market dropped on Thursday, tracking the global cues. On Multi Commodity Exchange (MCX), June gold futures were down 0.30% to Rs 48,530 for 10 gram at 10.30 am on May 20. Silve prices slumped for third straight day. On MCX, silver July futures were down by 0.31% to Rs 73,000. […]

Business

U.S. capital running out of gas, even as Colonial Pipeline recovers

Washington was running out of gasoline on Friday, even as the country’s largest fuel pipeline network ramped up deliveries following a cyberattack and U.S. officials assured motorists that supplies would return to normal soon. The six-day Colonial Pipeline shutdown was the most disruptive cyberattack on record. Widespread panic buying continued two days after the pipeline […]

Business

Cairn Energy sues Air India to enforce $1.2 bln arbitration award

Cairn Energy (CNE.L) has sued India’s flagship carrier Air India to enforce a $1.2 billion arbitration award that it won in a tax dispute against India. The move ratchets up pressure on India’s government to pay the sum of $1.2 billion plus interest and costs that the British firm Cairn was awarded by an arbitration […]

Business

Easyjet Chairman Barton prepares to step down in 2022

EasyJet (EZJ.L) Chairman John Barton is preparing to step down once he has completed nine years in the post in May 2022, the British airline said in a statement on Saturday. The company has already started the search for a successor just as the airline industry battles to recover from the devastating impact on travel […]

Business

Proxy advisor ISS recommends votes for Chevron CEO, directors

Influential proxy advisor Institutional Shareholder Services (ISS) has recommended shareholders back Chevron Corp Chief Executive Michael Wirth for reelection to the company’s board and oppose a proposal to split the CEO-chairman role at the No. 2 U.S. oil producer. ISS urged votes for Wirth but said Chevron (CVX.N) could take additional steps to better manage […]

Business

Bitcoin, Ethereum Crash: Is it Time to Sell or Buy Cryptocurrency?

Bitcoin, the world’s largest cryptocurrency tumbled to three-and-half months low on Wednesday. In early trading, the best known cryptocurrency plunged over 50% to $30,066 from its record high of $64,895 hit on April 14. However, bitcoin had risen back later to about $38,500 by 10 pm UK time, according to Refinitiv. Ethereum, the coin linked […]