We apologize for the inconvenience. The full MarketWatch site will return shortly.
Colonial Pipeline is aiming to “substantially” restore operations by the end of the week — a goal that analysts say could avert widespread panic at the pump and lasting repercussions for fuel markets after the largest pipeline in the U.S. was shut down over the weekend in response to a ransomware attack.
Trulieve Cannabis Corp. said Monday it has agreed to acquire Harvest Health Recreation Inc. in an all-stock deal valued at about $2.1 billion, the latest tie-up in a sector hoping for reforms of strict U.S. cannabis laws that would crack open capital markets.
The ransomware attack on Colonial Pipeline Co. highlights an obvious area for growth in the technology sector.
Gold futures climbed Monday for a fourth straight session, supported by a fall in the U.S. dollar to a roughly 2 1/2-month low, as well as some weakness in the stock market. The Nasdaq Composite has come under renewed pressure, said Dan Russo, portfolio manager at Potomac Fund Management, adding that this index was on the “verge of a relative breakdown.” Some investors “may be using this breakdown as a signal to rotate out of the Nasdaq and into the areas of the market that are leading,” including industrial metals and agricultural commodities, he told MarketWatch. “Precious metals such as gold are not leading yet, but they have been improving of late.” June gold rose $6.30, or 0.3%, to settle at $1,837.60 an ounce. That was the highest most-active contract settlement since Feb. 10, FactSet data show.
The Biden administration on Monday said it hasn’t offered advice to Colonial Pipeline about paying a ransom after it was victimized by an attack over the weekend.
The Food and Drug Administration advisory committee plans to hold a meeting on June 10 to discuss authorizing COVID-19 vaccines for use in pediatric populations. Pfizer Inc.’s is the only authorized vaccine that is available to 16 and 17-year-olds at this time. The company is currently waiting for word from the FDA about whether it will authorize the same vaccine for 12 to 15-year-olds, which would make it the first vaccine authorized for use in this group of teens. During the meeting, FDA officials are also expected to share details about what they expect to see in applications to authorize and approve these vaccines for use in children. The advisory committee will not discuss specific vaccines, the regulator said.
The Tesla CEO’s ‘Saturday Night Live’ episode scored the show’s third-highest ratings of the season
Colonial Pipeline on Monday afternoon said it aimed to “substantially” restore service on its system, which provides around 45% of refined fuel needs to the U.S. East Coast, by the end of the week after suffering a ransomware attack that forced it to shut down its pipeline over the weekend to contain the threat. The Alpharetta, Georgia-based company, in a statement, said segments of its pipeline were being brought back online “in a stepwise fashion, in compliance with relevant federal regulations and in close consultation with the Department of Energy, which is leading and coordinating the Federal Government’s response.” Oil futures were slightly lower, with the U.S. benchmark off 10 cents, or 0.2%, at $64.80 a barrel on the New York Mercantile Exchange. Gasoline futures , which had rallied earlier in the day, were up just 0.1% at $2.1289 a gallon.
President Joe Biden on Monday afternoon is due to make a speech on the U.S. economy, with the remarks coming before meetings with lawmakers on Wednesday and Thursday about his plans for big spending on infrastructure and social programs.
‘Should they let him have the house or rent it? Should they make him pay for the house?’
The hacker group suspected to be behind a ransomware attack on Colonial Pipeline that has cut off the flow of fuel products to the U.S. East Coast released a statement Monday saying that it’s goal was only to make money and not disrupt society. “Our goal is to make money, and not creating problems for society,” the criminal hacking group known as DarkSide said in a statement posted on its web site, several news reports said. Colonial Pipeline over the weekend shut its network, which supplies around 45% of refined fuel product supply to the East Coast, to contain a threat posed by a ransomware attack. In the statement, DarkSide said it was “apolitical” and appeared to blame the attack on cybercriminal partners. It remains unclear what the hackers have demanded. Colonial Pipeline didn’t immediately respond to a request for comment in response to the statement. Gasoline and oil futures had rallied in early trade, but subsequently pulled back on expectations the attack could blunt refinery demand for crude and on reports that traders had booked European cargoes of gasoline to import into the U.S.
Rate locks have risen 178% for second homes over the past year as of April, according to an analysis by Redfin.
London stocks struggled for traction on Monday, boosted by shares of mining companies as commodity prices climbed, but were held back by a strong pound.
The European Union hasn’t made any new orders for AstraZeneca’s COVID-19 vaccine beyond June, when the contract ends, said European internal market commissioner Thierry Breton.
Over 30 venture-funded tech startups announced SPAC deals less than a year after receiving taxpayer-funded forgivable loans designed to help small businesses pay their employees through the pandemic
Bed Bath Beyond Inc. announced the launch of its latest owned brand, Simply Essential, on Monday. The collection includes more than 1,200 items, some, such as serving spoons and other kitchen essentials, priced as low as $1. “Of all the owned brands that Bed Bath Beyond will launch this year, Simply Essential represents the largest new product assortment and is intended to attract new customer segments for us,” said Joe Hartsig, Bed Bath Beyond’s chief merchandising officer, in a statement. The entire line is priced below $200. Merchandise spans bedroom, bathroom and kitchen items. Simply Essential is the third owned brand that Bed Bath Beyond has launched this year. The company aims to launch eight by the end of February 2022. Owned brands are a key part of the company’s growth plan. Bed Bath Beyond stock has rallied 46.1% for the year to date while the SP 500 index is up 12.5% for the period.
Impact to gains on home sales could be mitigated by updating the exclusion
The fast-casual chain announced a number of compensation incentives as it searches for new workers, including an increase in average hourly pay to $15.