rising-crude

Mitsubishi plans $600 million compensation for four models over mileage cheating

Japan's Mitsubishi Motors Corp said it plans to give owners of four minivehicles close to $1,000 in compensation for its overstating of mileage readings, part of reimbursement costs that will total at least $600 million. The mileage scandal, which the company has blamed on pressure to deliver competitive readings and poor supervision of testing processes, has led to plans for Nissan Motor Co to take a one-third controlling stake in …

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Mitsubishi plans $600 million compensation for four models over mileage cheating

rising-crude

St. Louis Fed’s Bullard says U.S. may only need single rate hike for now

The U.S. economy, stuck in a slow-growth pattern that is likely to persist for the forseeable future, may need no more than a single additional rate hike for as long as 2.5 years, St. Louis Fed President James Bullard said on…

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St. Louis Fed’s Bullard says U.S. may only need single rate hike for now

rising-crude

Global oil majors look to shed refineries as crude prices rebound

By Jessica Resnick-Ault NEW YORK (Reuters) – Global oil majors Chevron Corp and Royal Dutch Shell Plc are putting small refineries on the auction block as they look to trim lower-margin assets in the face of headwinds from rising crude oil prices. Chevron, the second largest U.S. oil company, is soliciting interest in its Burnaby, British Columbia, refinery and gasoline stations, the company told Reuters. Shell is looking for buyers for its Martinez, California, refinery, two people familiar with

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Global oil majors look to shed refineries as crude prices rebound