Amazon Is Shifting to Recycled Paper Filling for Packages
Amazon is shifting from the plastic air pillows used for packaging in North America to recycled paper because it’s more environmentally sound, and it says paper just works better.
Fisker Files for Bankruptcy Protection
Electric vehicle maker Fisker filed for Chapter 11 bankruptcy protection, the second electric startup to do so in the last year as even industry leaders struggle to lure more buyers.
ConocoPhillips to Buy Marathon Oil for $17.1 Billion
ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits.
Deere Cuts 2024 Profit Outlook on Lower Tractor Sales
Deere’s fiscal second-quarter results beat Wall Street’s expectations, but the company lowered its full-year profit forecast for a second time as farmers buy fewer tractors.
UPS to Become the Primary Air Cargo Provider for USPS
UPS will become the primary air cargo provider for the United States Postal Service after FedEx said it wasn’t able to reach an agreement on mutually beneficial terms to extend its contract.
Home Depot Buys SRS Distribution in $18 Billion Deal
Home Depot will buy SRS Distribution, a materials provider for professionals, in a deal valued at approximately $18.25 billion.
Exxon Profit Falls Compared With Record Numbers Last Year
Exxon Mobil’s third-quarter profit declined compared with last year when the oil giant put up record numbers as oil prices soared, but net income jumped 15% compared with Q2.
Chevron Buys Hess for $53 Billion
Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge.
NHTSA to Investigate Cruise Over Pedestrian Incidents
NHTSA is investigating General Motors’ Cruise autonomous vehicle division after receiving reports of incidents where vehicles may not have used proper caution around pedestrians.
Exxon Mobil to Purchase Pioneer Natural for $59.5 Billion
Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas.