Authorities responded to a major vehicle fire in Kenner, Louisiana, on Wednesday morning. Around 5 a.m. on May 7, the Kenner Fire Department (KFD) responded to a fire at a business parking lot located on E. Airline Drive.Firefighters reported “multiple 18-wheeler cabs on fire” at the scene. The fire was under control by 6 a.m.One ...more

A Diamondback Energy oil rig in Midland, Texas. (Callaghan O'Hare/Bloomberg) Diamondback Energy Inc., the largest independent oil producer in the Permian Basin, says production has likely peaked in America’s prolific shale fields and will decline in the months ahead after crude prices plummeted. The Texas company trimmed its own full-year production forecast on May 5, ...more

Diesel’s price has dropped 14.2 cents over four straight decreases. (vitpho/Getty Images) The national average diesel price ticked down 1.7 cents a gallon to $3.497, according to U.S. Energy Information Administration data released May 6. Diesel’s price has dropped 14.2 cents over four straight decreases after rising 9 cents over three consecutive increases. The price ...more

Duncan Aldred. (General Motors) General Motors Co. on May 5 named Duncan Aldred the new president of the automaker’s North America operations amid tensions between President Donald Trump, Canada and Mexico over tariffs. In a statement, GM President of Markets Rory Harvey said Aldred’s promotion is aimed at bolstering the automaker’s global internal combustion engine ...more

(Daniel Acker/Bloomberg News) Archer-Daniels-Midland Co.’s earnings shrunk to the lowest level since the pandemic as a difficult crop trading market is complicated by mounting trade and biofuel policy uncertainty. Adjusted earnings for the first three months of 2025 slumped 52% from a year earlier to 70 cents a share, making it the worst quarterly result ...more

Stronger tire replacement demand across all regions helped offset lower car production in Europe and North America. (Continental AG) Continental AG more than doubled earnings in the first quarter as its car parts unit slashed costs and tire sales bounced back from weaker levels last year. Adjusted group earnings grew to 586 million euros ($664 ...more

A ship arrives at the Port of Los Angeles in April. (Eric Thayer/Bloomberg) The U.S. trade deficit widened to a record in March as companies rushed to import products as the Trump administration readied sweeping tariffs. The goods and services trade gap grew 14% from the prior month to $140.5 billion, Commerce Department data showed ...more

Congestion Relief Zone signage on Second Avenue in New York. (Michael Nagle/Bloomberg) New York asked a judge to stop the Trump administration from withholding federal approvals or funds in the president’s push to end Manhattan’s congestion pricing program. The request, filed May 5, comes after the state said it had reached an “impasse” in its ...more

Reducing its sales outlook shows how Trump’s tariff policies and related economic worries risk worsening an existing slowdown in EV demand. (Bing Guan/Bloomberg) Rivian Automotive Inc. said full-year deliveries will decline more sharply than it anticipated just a month ago over the risk that consumer worries stoked by President Donald Trump’s trade war will further ...more

Until resolution of court challenges, Wage and Hour field operators will use the guidelines contained in a 2008 “fact sheet” that is considered more favorable to independent operators than the Biden-era rule. (kali9/Getty Images) The Department of Labor has announced it is reviewing the Biden administration’s 2024 worker classification guidance, which directs employers on how ...more