NEW YORK — U.S. stocks are falling Friday as energy, technology and internet companies move lower. Crude oil is on track to drop for the tenth day in a row and is trading at its lowest price since March, leading to steep losses for oil companies in recent weeks. Stocks have fallen over the last two days but are still on track for strong weekly gains. KEEPING SCORE: The S&P 500 index dropped 25 points, or 0.9 percent, to 2,780 as of 10:10 a.m. Eastern time. The Dow Jones Industrial Average fell 184 points, or 0.7 percent, to 26,006. The Nasdaq composite plunged 106 points, or 1.4 percent, to 7,424. The Russell 2000 index of smaller companies gave up 21 points, or 1.4 percent, to 1,556. OIL SKID: Benchmark U.S. crude lost 1.4 percent to $59.80 a barrel in New York. After peaking at $76.41 a barrel in early October, near a four-year high, U.S. crude has tumbled 22 percent to its lowest price since March. Brent crude, used to price international oils, has fared almost as badly. … [Read more...] about US stocks skid as oil plunge continues and tech falls
Updated 6:44 am PST, Friday, November 9, 2018 FILE- In this Friday, Oct. 26, 2018, file photo trader Robert Moran works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, Nov. 9. FILE- In this Friday, Oct. 26, 2018, file photo trader Robert Moran works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, Nov. 9. Photo: Richard Drew, AP Photo: Richard Drew, AP Image 1 of / 1 Caption Close Image 1 of 1 FILE- In this Friday, Oct. 26, 2018, file photo trader Robert Moran works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, Nov. 9. FILE- In this Friday, Oct. 26, 2018, file photo trader Robert Moran works on the floor of the New York Stock Exchange. The U.S. stock market … [Read more...] about Markets Right Now: Stocks start lower as crude oil falls
PALM oil is everywhere - in our food, cosmetics, cleaning products and even fuels. But some brands are now campaigning against the use of the vegetable oil product in an effort to save the environment. This is everything you need to know. Why is palm oil bad for the environment? Unknown to most people in the UK, palm oil production has resulted in displacement of indigenous peoples, deforestation and loss of biodiversity - including the death of hundreds of thousands of orangutans. Palm oil is the most commonly produced vegetable oil and 66 million tons is produced each year. The warm, humid conditions in the tropics are ideal for oil palm farming, which means vast areas of rain forest in Southeast Asia, Latin America and Africa are being wiped out to make room for the plantations. This releases huge amounts of carbon into the atmosphere. Indonesia, the world's largest producer of palm oil, temporarily overtook the United States as one of the most polluting countries in the world in … [Read more...] about Why is palm oil bad for the environment, what did Iceland’s Christmas ad say about it and how is it involved in deforestation?
By Brendan O'Brien (Reuters) - A federal judge in Montana halted construction of the Keystone XL oil pipeline on Thursday on the grounds that the U.S. government did not complete a full analysis of the environmental impact of the TransCanada Corp (TRP.TO) project. The ruling deals a major setback for TransCanada Corp and could possibly delay the construction of the $8 billion, 1,180 mile (1,900 km) pipeline. The ruling is a victory for environmentalists, tribal groups and ranchers who have spent more than a decade fighting against construction of the pipeline that will carry heavy crude to Steele City, Nebraska, from Canada’s oilsands in Alberta. U.S. District Court Judge Brian Morris' ruling late on Thursday came in a lawsuit that several environmental groups filed against the U.S. government in 2017, soon after President Donald Trump announced a presidential permit for the project. Morris wrote in his ruling that a U.S. State Department environmental analysis "fell short of a … [Read more...] about U.S. judge halts construction of Keystone XL oil pipeline
An operation was underway Thursday to try to stop a Norwegian navy frigate from sinking after it collided with a Maltese oil tanker in a fjord in western Norway. Eight people received minor injuries in the accident, which took place shortly after 4:00 am (0300 GMT) in a busy waterway in the Hjeltefjord near Bergen, Norway's military said. The 137 people on board the KNM Helge Ingstad frigate, which was returning from Nato's Trident Juncture exercises, were evacuated after the collision with the Sola TS tanker, the military said. "The KNM Helge Ingstad suffered damage above and below the waterline. The damage was such that the frigate was no longer stable and was not able to float sufficiently," a Norwegian Navy officer, Sigurd Smith, told reporters. "It was therefore decided to force it up on (nearby) rocks," he said. In the early afternoon, the grey 5,000-tonne vessel was listing heavily on its side, its helicopter landing pad at the back of … [Read more...] about Eight injured as Norwegian warship collides with Maltese oil tanker