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U.S. GDP Growth Revised Up to 3.0% Pace in the Second Quarter

U.S. GDP Growth Revised Up to 3.0% Pace in the Second Quarter

U.S. economic growth was stronger than initially thought during the second quarter, a sign of momentum headed into the second half of 2017.

Published 4 months ago

Fallout From Harvey to Disrupt Energy Markets Around the World

Fallout From Harvey to Disrupt Energy Markets Around the World

Tropical Storm Harvey is upending the flow of oil and petroleum all around the world—a consequence of the growing influence of the U.S. in the global energy industry.

Published 4 months ago

For New Uber CEO Dara Khosrowshahi, Fresh Challenges Emerge

For New Uber CEO Dara Khosrowshahi, Fresh Challenges Emerge

Even before he takes the job as Uber’s new chief executive, fresh challenges confront Expedia CEO Dara Khosrowshahi, with news of a federal bribery probe into Uber and public disagreement over how the board’s decision to hire him unfolded.

Published 4 months ago

Oil Falls as Floods Shut Down Texas Refineries

Oil Falls as Floods Shut Down Texas Refineries

Oil prices fell and gas futures continued to soar as Tropical Storm Harvey flooded the Texas Gulf Coast, crippling the region’s refining capacity and raising fears of fuel shortages.

Published 4 months ago

With Its Economic Heft, Houston Is Equipped to Recover From Harvey

With Its Economic Heft, Houston Is Equipped to Recover From Harvey

The city’s economy will suffer a significant and perhaps unprecedented blow from Tropical Storm Harvey. But economists project that unlike New Orleans following Hurricane Katrina, Houston’s resurrection is nearly certain.

Published 4 months ago

At Houston’s Overcrowded Convention Center, Harvey Evacuees Face Fear and Uncertainty

At Houston’s Overcrowded Convention Center, Harvey Evacuees Face Fear and Uncertainty

About 9,100 people, nearly double the capacity, are crammed into the center, and more are waiting to get in.

Published 4 months ago

Harvey Keeps Houston Sports Teams Away From Home

Harvey Keeps Houston Sports Teams Away From Home

Facing flooded fields and inundated roads from Tropical Storm Harvey that make traveling within the city of Houston near impossible, several college and professional sports teams have relocated to prepare for upcoming competition this weekend.

Published 4 months ago

Photos: Harvey’s Damage Viewed From Above

Photos: Harvey’s Damage Viewed From Above

Aerial views show the devastation from floodwaters in neighborhoods around Houston’s Addicks Reservoir.

Published 4 months ago

New Texas Law Presents Another Burden for Harvey Victims

New Texas Law Presents Another Burden for Harvey Victims

Many Texas homeowners and businesses with property damaged by Harvey are under the gun to file insurance claims before a new law favorable to private-sector insurers kicks in Friday.

Published 4 months ago

For Banks, Harvey’s Hit Shouldn’t Prove Long-Lasting

For Banks, Harvey’s Hit Shouldn’t Prove Long-Lasting

Banks may take a short-term hit as Tropical Storm Harvey paralyzes parts of Texas, but analysts say that, as in previous storms, disruptions are likely to be modest and could even portend a longer-term pickup.

Published 4 months ago

Harvey Forces U.S.’s Largest Refinery to Cut Output to 60% Capacity

Harvey Forces U.S.’s Largest Refinery to Cut Output to 60% Capacity

The nation’s largest refinery in Port Arthur, Texas, said Tuesday it has cut production rates to 60% capacity, as refineries up and down the Texas coast continue to battle the effects of Tropical Storm Harvey.

Published 4 months ago

Will Harvey Soak the Auto Insurers?

Will Harvey Soak the Auto Insurers?

Home insurance doesn’t cover floods, but auto insurers will have to pay up for all of those sunken cars in Houston.

Published 4 months ago

Harvey’s Test: Businesses Struggle With Flawed Insurance as Floods Multiply

Harvey’s Test: Businesses Struggle With Flawed Insurance as Floods Multiply

Hurricane will strain a National Flood Insurance Program out of step with needs of small businesses in era of extreme weather.

Published 4 months ago

Trump Heads to Texas to Survey Harvey Storm Damage

Trump Heads to Texas to Survey Harvey Storm Damage

President Donald Trump headed to Texas on Tuesday morning to survey the devastation from tropical storm Harvey, with scheduled stops in Corpus Christi and Austin.

Published 4 months ago

Harvey Continues Assault on Houston as It Turns Toward Louisiana

Harvey Continues Assault on Houston as It Turns Toward Louisiana

Tropical Storm Harvey is forecast to slowly move inland over the northwestern Gulf Coast on Wednesday after sitting just off the coast of Texas throughout the day Tuesday and continuing to bring rain to the area.

Published 4 months ago