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US oil giant Chevron confirms it will expand operations in Venezuela

Oil giant Chevron confirmed that it will expand operations in Venezuela after President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits. Chevron, the only U.S. oil company with a major presence in Venezuela, said Wednesday that it has been assigned additional acreage in the Orinoco Belt, where it has active operations. The company plans to invest more than $7 billion over the next five years, with the goal of more than doubling its current production to about 600,000 barrels a day. “Chevron’s history in ...

US job openings rise slightly to 7.3 million as labor market remains sturdy despite higher costs

WASHINGTON (AP) — Employers posted slightly more job openings in July but the American labor market remained sturdy in the face of higher costs that are squeezing household budgets. U.S. job openings ticked up to 7.27 million in July from a revised 7.18 million in June, the Labor Department reported Tuesday. The department’s Job Openings and Labor Turnover Survey (JOLTS) also showed that layoffs fell. But so did the number of people quitting their jobs — a sign of confidence in their prospects. The report showed that gross hiring — before subtracting those who lost or quit ...

Apple’s new CEO John Ternus takes helm from Tim Cook

The Associated Press Apple’s new CEO John Ternus took the helm of the iconic tech giant on Tuesday, ending Tim Cook’s 15-year tenure during which the company’s value skyrocket to $4.6 trillion thanks to the iPhone’s enormous popularity. The transition to a new CEO comes at a pivotal time for Apple. Artificial intelligence has unleashed the greatest upheaval within the industry since Steve Jobs unveiled the first iPhone in 2007. Apple has gotten off to a rough start in AI after stumbling in its efforts to deliver new features built on the technology, as promised nearly two ...

Judge says Smucker’s lawsuit against Trader Joe’s over frozen PB&J can proceed

A federal judge has ruled that J.M. Smucker can proceed with a lawsuit against Trader Joe’s over frozen sandwiches that Smucker claims are too similar to its Uncrustables. Smucker sued Trader Joe’s in federal court in Ohio last fall, claiming Trader Joe’s committed a trademark violation when it introduced frozen peanut butter and jelly sandwiches with the same round shape and crimped edges as Uncrustables. The lawsuit further alleged that Trader Joe’s put its crustless PB&Js peanut in packaging that too closely resembled the coloring of an Uncrustables box and featured a ...

Federal Trade Commission and 22 states sue Amazon over inflated advertising prices

NEW YORK (AP) — The Federal Trade Commission and 22 states filed a lawsuit against online retailer Amazon on Monday claiming that it defrauded advertising customers. The lawsuit, filed in the U.S. District Court in the Western District of Washington, claims that Amazon overcharged 1.2 million advertising customers by misleading them on prices for online auctions for ads. The complaint says Amazon said it was offering competitive prices on several ad products when it was actually inflating auction prices. “When one of the world’s largest online retailers engages in unfair and ...

From honey to hockey sticks…

CHICAGO (AP) — Honey. Makeup. Christmas decorations. And hockey sticks. Those are just a few of the hundreds of different Canadian products that President Donald Trump’s administration has slapped with a 50% tax to enter the United States. The new tariffs, which kicked in Saturday, are ...