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Hess Blames Tariffs for Delaying Toy Truck Release

Hess, the U.S. oil producer widely known for its signature green-and-white toy trucks, said the release of a collection of new miniature vehicles was delayed because of trade tariffs.

May 13, 2025

Saudi Aramco to Spend $3.4B on Motiva Refinery in Texas

Saudi Aramco plans to spend $3.4 billion on its Motiva refinery in Texas, the largest fuelmaking plant in the U.S.

May 13, 2025

Inflation Slows, but Economists Say Tariff Impacts to Come

Inflation cooled for the third straight month in April even after some U.S. tariffs took effect, though economists and many business owners expect inflation will climb in the coming months.

May 13, 2025

Freight Rates Set to Rise on Pacific Shipping Frenzy

A China-U.S. deal to slash trade tariffs is set to push freight rates higher, as companies rush to use a 90-day grace period to ferry goods across the Pacific Ocean.

May 13, 2025

GOP Wants to Phase Out Biden EV Credits to Pay for Tax Cuts

House Republicans are proposing to eliminate a tax credit for electric vehicles and phase out incentives for the production of clean energy to help pay for President Donald Trump’s massive tax package.

May 13, 2025

US Businesses Relieved Over Tariff Pause but Still Anxious

American businesses that rely on Chinese goods reacted with muted relief May 12 after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days.

May 12, 2025

French Shipping Giant CMA CGM Hails US-China Deal

Rodolphe Saade, CEO of CMA CGM SA, hailed a truce in the trade war between Washington and Beijing.

May 12, 2025

US Tariff Revenue Jumps in April Before China De-Escalation

The U.S. collected a record amount of revenue from tariffs in April, helping to limit a further widening of the budget deficit.

May 12, 2025

Aramco Profit Down $4.6% to $26 Billion

Saudi Arabia’s state-owned oil giant Aramco posted Q1 profit of $26 billion on May 11, down 4.6% from the prior year as falling global oil prices undermine the kingdom’s development plans.

May 12, 2025