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Gas prices hit $2.49 in Wichita

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About one quarter of the refining capacity in the region has been knocked offline, leading to more expensive gas prices across the country. "The Pennsylvania average is $2.54 a gallon - up 20 cents from one year ago". Flint Hill Resources' refinery in Corpus Christi, where Harvey made landfall as a Category 4 hurricane, could begin to restart - a process that takes days - as early as Wednesday. Read More »

Harvey shuts 24% of refining capacity in US; Brent down

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In the refined product market, United States gasoline prices increased by 3% at $1.8380 per gallon, the most since 31 July 2015. In early afternoon Asian trade, USA benchmark West Texas Intermediate was down 14 cents at $46.30 while Brent crude for October eased 21 cents to $51.79. Read More »

United States second-quarter growth revised to 3 percent in momentum boost

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A key measure of inflation, the GDP's PCE price index, slowed in the second quarter, to a 1.6 percent annual rate from 2 percent in the first quarter. GDP has averaged annual growth rates of just 2.2 percent in this recovery, which is now the third longest in US history. Much of the strength came from a sharp upward revision in spending on autos, which the government initially estimated as declining in the spring. Read More »

Amazon to slash prices at Whole Foods this week after takeover

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Lower prices are the first of many changes Amazon is planning to make after completing its $13.7 billion acquisition of the upscale grocery chain Monday . "The (profit) margins at Whole Foods probably were too high", said Jeff Roster, vice president of retail strategy at the IHL Group, a research and advisory firm based in Franklin, Tenn. Read More »

MI unveils all-maize uniform combination for Florida game

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After some digging and talking to sources , I can confirm that the MI football team was told about the alternative jersey and was able to wear them at Friday's practice. Graduate transfer Malik Zaire (Notre Dame) and redshirt freshman Feleipe Franks are competing with Luke Del Rio, the junior incumbent. As for Michigan's color rush uniforms, this is the second time the Wolverines have worn all-maize uniforms and the first time since 1928. Read More »

Supermarket shares hit as Amazon unveils Whole Foods plans

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The company plans to set up lockers for Amazon pickups at Whole Food stores , and it also plans to integrate Prime membership with the Whole Foods loyalty program. Whole Foods has had a complicated relationship with its prices - executives have long maintained that they charge a premium because they sell superior products to those of their competitors - even as consumer and investors have been outspoken about company's premiums in a famously low-margin business. Read More »

USA stocks down ahead of Jackson Hole meeting

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Market participants are closely watching the developments at Jackson Hole symposium 2017 where the heads of the global central banks have assembled for the Annual Economic Policy Symposium to discuss various global monetary policy. The dollar index, which measures the greenback against six major peers, was down 0.54 percent at 92.771 in late trading. And in Italy, where anti-euro, populist parties are making headway ahead of an election next year, economic output is still well below its ... Read More »

Apple said to be prepping self-driving employee shuttle service

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It even wanted to change the wheel designs, making them spherical instead of round, the NYT says - nearly too ideal a metaphor for how Apple's perfectionism took the project down. It follows complications over the last few years, including shifting priorities, unrealistic deadlines and lack of a clear vision for the end product. Read More »

Donald Trump's rift with key Republicans explodes into public view

Since he took office, Congress has been cucking President Trump left and right, failing to pass any significant piece of his legislative agenda and really underscoring what a awful political leader he is. During the health care struggle , he told Senator Shelley Moore Capito that she couldn't ride home to West Virginia on Air Force One unless she voted for repeal. Read More »

Apple Commits $1.3B for Iowa Data Center

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Apple Inc will build a $1.375 billion data center in Waukee, Iowa, Apple and state officials said on Thursday, with $207.8 million in incentives approved by the Iowa Economic Development Authority and Waukee city council. "It's always unfortunate that we always focus on 'well, it's just 50 jobs, ' because we're really not impacting what this really means and how this is really changing the knowledge economy in Iowa", Durham said. Read More »

RBI to introduce Rs 200 notes beginning September

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Following the demonetisation on November 8 a year ago, RBI had introduced Rs 2,000 notes and also issued new Rs 500 notes with additional security features. This INR 200 note is under processing of the security and quality check. "The Central government is preparing to gradually phase out the new Rs 2,000 note". Read More »

Sempra Energy bids $9.45B for Oncor, topping Buffett offer

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San Diego-based Sempra expects to own about 60 per cent of the reorganised holding company after the transaction that is valued at $18.8 billion, including Oncor's debt, it said late on Sunday. Berkshire Hathaway declined to comment on the development. Sempra's bid marks yet another twist in the fate of Energy Future, which was acquired by private equity firms in 2007 for a record-setting $45 billion - but quickly ran into trouble under a huge debt load. Read More »

Taylor Swift's Fans Have Solar Eclipse Theories!

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BuzzFeed points out small ways Swift has incorporated space-related themes on social media and in other appearances, so fans are theorizing that the cryptic posts coinciding with the solar eclipse are not an accident. That's not all. An executive at Taylor's record label, Big Machine, tweeted and deleted a photo of a clock set to 2:50 previous year - which just so happens to be when the eclipse will be visible in NY, where Taylor lives. Read More »