Exxon profits surge; $3.4 billion hit from Russian exit

Exxon profits have doubled in the last year, but the oil giant is taking a big hit from the Russian invasion of Ukraine.

US economy shrank by 1.4% in Q1 despite solid consumer spending

Despite the weak showing, most economists expect a rebound in the April-June quarter as solid hiring and wage gains sustain growth.

US long-term mortgage rates rise; 30-year loan reaches 5%

Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation.

Why Biden is waiving rule on higher levels of ethanol in gas this summer

President Joe Biden says his administration will suspend a federal rule that bars higher levels of ethanol in gasoline during the summer.

Deutsche Bank predicts US recession in 2023 due to Fed rate hikes

Deutsche Bank is the first major financial institution to predict a recession due to rising inflation and the Federal Reserve's hawkish plan to tame it.

Biden ‘has not ruled out’ canceling student loan debts, White House says

Press Secretary Jen Psaki made the comment the same day the Biden administration announced plans to freeze federal student loan payments through Aug. 31

The best and worst times to buy a car amid EV trends and supply-chain woes

If you’re planning to buy a car — new, used, electric, or hybrid — here are some things to consider before making your purchase, according to a car-buying expert.

Corn could be the answer to high gas prices

Under the Home Front Energy Independence Act, ethanol fuel would be produced and sold year-round in the U.S. instead of only during the summer months. The proposal aims to further decrease dependence on Russian petroleum exports over its war on Ukraine.