Economy
ExxonMobil Books First Annual Loss In Its Modern History
ExxonMobil (NYSE: XOM) booked its first annual loss since the 1999 merger of Exxon and Mobil, and the first annual loss in at least 40 years after the pandemic crushed oil demand and prices and led to a huge domestic gas asset impairment. ExxonMobil reported on Tuesday a loss of $22.44 billion for 2020, compared to earnings of $14.34 billion for 2019, due to the lower oil and gas prices and after-tax fourth-quarter impairment charges of $19.3 billion.
Government officials in the U.S. and Europe have called for stricter mask protocols as more infectious strains of the coronavirus circulate, yet there is still concern that demand for respirator masks in the U.S. far outweighs supply.
N95s are unique in that they can filter out nearly all — 95% — of large and small particles in the air. This makes them more efficient blockers of the SARS-CoV-2 aerosols that can travel through the air.
Biden’s executive order on oil and gas drilling threatens ‘lifeblood’ of New Mexico economy
An oil and gas employee in New Mexico warned that President Biden’s order to halt new drilling on federal lands and a potential ban on all drilling on federal lands is “going to make oil and gas operators look at investing at other places.”
“What this does is it exports New Mexican jobs and it causes us to import foreign oil,” Lee Livingston with Mack Energy Corporation, told FOX Business’ Grady Trimble during an interview on “Varney & Co.” on Tuesday.
Can you still transmit Covid-19 after vaccination?
There’s no evidence that any of the current Covid-19 vaccines can completely stop people from being infected – and this has implications for our prospects of achieving herd immunity.
It was 17 June 2009. An 11-year-old boy returned to the US from the UK – and inadvertently brought something with him. Later that week, while attending a religious education programme in Sullivan County, New York, he developed a mysterious swelling of his salivary glands. He had mumps, a respiratory infection spread by contact with droplets in the air.
Biden wants a $15 minimum wage. Here’s what people say it would do to the economy
President Biden says his proposal to raise the federal minimum wage to $15 an hour will lift many low-wage workers out of poverty, but some businesses and economists warn it could cost jobs as the U.S. recovers from pandemic layoffs.
Mr. Biden endorses a plan to more than double the wage in steps over four years, noting that at $15 an hour, a job could support a family of four and it wouldn’t live in poverty. The president’s advisers also say raising the wage from $7.25 an hour, where it has stood since 2009, would show gratitude to essential workers at grocery stores and warehouses who stayed on the job during the coronavirus pandemic and would boost the economy by allowing low-wage workers to spend more.
BP Reports Massive Loss For 2020
The second supermajor to report full-year results, BP, said today it had lost $5.7 billion last year because of the oil price slump and demand destruction caused by the coronavirus pandemic.
Weaknesses in the gas market also contributed to the negative net result, BP noted in its filing, which compared with a profit of $10 billion for the previous year.
The Redditors Have Revealed A Myth About The Stock Market
After so many dark months, it is a peculiar relief for the biggest story of the week to be about a gang of online pranksters gaming the stock market.
Over the past several days, a handful of corporate stocks have surged to cartoon-hilarious price levels, as denizens of the website Reddit appear to be deliberately inflating them for fun. Nothing particularly special has happened to send these stocks, which include video game retailer GameStop and movie theater chain AMC, on their starward trajectory. It’s rather obviously a game, and the kids are having fun.
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