Business

Final sales for Cyber Monday fell short of estimates and didn’t surpass last year’s record as lackluster sales and scarce inventory kept shoppers from breaking out their credit cards during the start of the holiday shopping season.

The U.S. will proceed with its plan to release 50 million barrels of oil from its strategic reserves despite a new coronavirus variant triggering a sharp drop in crude prices.

Natural gas futures plummeted as much as 12% in the U.S. as forecasts shifted warmer through the middle of next month, allaying concern about tight domestic supplies amid a global shortage of the heating fuel.

President Joe Biden has created a Cabinet-level task force that will set priorities and oversee implementation of the comprehensive $1 trillion infrastructure bill that he signed into law on Nov. 15.

President Joe Biden said his administration has made strides toward relieving U.S. supply chain disruptions, as he met Nov. 29 with the leaders of major retailers including Walmart Inc. who assured him they have ample inventories for the holiday season.

Commerce Secretary Gina Raimondo on Nov. 29 will make the case for more domestic production of semiconductors in a pitch aimed at the administration’s goal to have 50% of U.S. vehicles be electric by the end of the decade.

Electric truck maker BYD Motors announced it will deliver five of its battery-electric refuse trucks to New Jersey, in what it said was the first such deployment in that state.

For Amazon, which burnished its reputation serving as a lifeline during the COVID-19 outbreak, the holiday season is an opportunity to extend its advantage over rivals.

BUDAPEST, Hungary — From appliance stores in the United States to food markets in Hungary and gas stations in Poland, rising consumer prices fueled by high energy costs and supply chain disruptions are putting a pinch on households and businesses worldwide.