Life

Oil Prices Ease As US Gasoline Stocks Surge

Gavin Williamson clearly doesn't know what school children need

If he has £10million in his pocket to invest in children’s return to school, let’s spend it on supporting their wellbeing and mental health

Cloud services provider Box receives $500 million KKR-led investment

(Reuters) – Box Inc said on Thursday private equity giant KKR & Co Inc led a $500 million investment in the cloud company in the form of convertible preferred stock.

Apogee Enterprises Guides FY21 EPS Below View – Quick Facts

While reporting financial results for the fourth quarter of fiscal 2021 on Thursday, Apogee Enterprises, Inc. (APOG) initiated earnings guidance for the full-year 2021, below analysts’ expectations.

For fiscal 2021, the company now projects earnings in a range of $2.10 to $2.35 per share, which includes $7 to $10 million of expected pre-tax costs related to investments in transformation initiatives.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.59 per share for the year. Analysts’ estimates typically exclude special items.

Mike Pence Gets Chapter And Verse On Twitter Over 7-Figure Book Deal

Former Vice President Mike Pence snagged a seven-figure book deal with Simon & Schuster and the gags came thick and fast on Twitter.

Some critics suggested mocking titles for Pence’s upcoming autobiography, which is slated for release in 2023 and will reportedly center on his journey “from a small town in Indiana to Washington, DC,” per a press release.

“I did it his way,” one person quipped about a name for the memoir, referencing Pence’s complicity in Donald Trump’s White House:

Another added: “It’ll be a downloadable PDF, as there’s no chance it has a spine.”

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8 injured, 1 person missing after explosion at paint plant in Columbus, Ohio

COLUMBUS, Ohio — An explosion and fire early Thursday at an Ohio manufacturing plant left eight people injured and one person missing, authorities said.

The explosion happened about 12:05 a.m. at the Yenkin-Majestic Paint facility in Columbus, triggering a fire, Columbus Fire Battalion Chief Steve Martin told reporters.

Some of the injured were able to get out of the plant while others were rescued before being taken to the hospital, authorities said. Two initially listed in critical condition were upgraded to stable, Martin said. All were employees at the plant, according to ABC. 

Crews early Thursday searched the site for other people that may still be trapped and worked to extinguish the fire. Some nearby businesses were evacuated.

Shortly before 2 a.m., authorities said the fire was controlled but still burning, ABC reported. 

The cause of the explosion wasn’t immediately known.

AppHarvest Announces Acquisition Of Root AI And Its Signature Robot, Virgo – Quick Facts

Applied technology company AppHarvest, Inc. (APPH, APPHW) has acquired Root AI, an artificial intelligence farming startup that creates intelligent robots to help manage high-tech indoor farms. Based in Somerville, Mass., Root AI has 19 full-time employees, all of whom are expected to join AppHarvest’s technology group. Root AI CEO Josh Lessing will take on the role of Chief Technology Officer for AppHarvest.

AppHarvest expects acquisition of Root AI and its robotic universal harvester, Virgo, to provide the company with a baseline of harvesting support working alongside crop care specialists focused on more complex tasks. Virgo is the world’s first universal harvester, which can be configured to identify and harvest multiple crops of varying sizes.

The company is investing approximately $60 million, consisting of approximately $10 million in cash and the balance in AppHarvest common shares, to acquire Root AI. The company will issue approximately 2,328,000 shares for the acquisition.

Brunswick Unit Acquires Freedom Boat Club Of New York Franchise Operation And Territory

Freedom Boat Club, a unit of Brunswick Corp. (BC), has acquired the Freedom Boat Club of New York franchise operation and territory. Freedom Boat Club of New York currently has more than 600 memberships. The scope of the transaction includes six New York area locations.

The deal marks the third acquisition made by Freedom Boat Club over the past year, following the acquisition of the Chicago territory in early March and the Charleston, South Carolina territory in the spring of 2020.

Investing Made Simple for Beginners and Everyone Else

Managing your money for the long run can be easier than you might imagine.

By Paul B. Brown

As Talk Turns to Inflation, Some Investors Look to Gold

As a short-term bet, gold has been risky. It has done better over some, but not all, extended periods.

By Brian J. O’Connor

Oil Prices Ease As US Gasoline Stocks Surge

Oil prices fell on Thursday after a two-day gain after official data showed a big increase in U.S. gasoline stocks, raising demand concerns at a time when supplies around the world are rising.

Brent crude for June settlement eased 46 cents, or 0.7 percent, to $62.70 a barrel while U.S. oil futures were down 55 cents, or 0.9 percent, at $59.22.

While crude stocks in the United States fell more than forecast by analysts, gasoline inventories jumped sharply against expectations, the Department of Energy said on Wednesday.

In its Weekly Petroleum Status Report, the U.S. Energy Information Administration (EIA) said Wednesday that oil inventories dropped by 3.5 million barrels for the week ended April 2, bringing stockpiles to a five-week low.

However, gasoline stocks increased by 4 million barrels, against expectations of a decline as refiners ramped up production before the summer driving season.

Investors were also weighing plans by OPEC+ to progressively add production amid bets on a significant boost in oil demand over the coming months as vaccinations gain pace.

The Organization of Petroleum Exporting Countries and its allies have announced a roadmap to ease production curbs over the three months to July by restoring more than 2 million barrels a day.