WASHINGTON, Jan 29- In a rare move, oil major Shell on Thursday backed a resolution proposed by activist investors to force the company to recognize climate change risks by improving its transparency. The announcement coincided with Shell saying Thursday that it would cut $15 billion in spending but continue to drill in Alaska's Arctic. South Africa's Sasol...» Read More
Chrysler is working hard to complete a deal with Fiat, but is also prepared if the deal doesn't go through, Vice Chairman and President Jim Press told CNBC Wednesday.
Chevron has halted its oil production in Cook Inlet because of continuing threats from Mount Redoubt eruptions at the Drift River terminal, where the company stores its oil.
If nobody else is going to say it, I will: the Senate is senile. I use the word senile deliberately because it has the same latin root as "senate." And the similarities don't stop at linguistics. The world's most poorly designed deliberative body has lost its mind.
The White House's auto task force thinks that GM's latest offers to bond holders and auto workers will leave the company with too much debt and want the terms reduced even further, CNBC has learned.
Wagoner's resignation comes as the company awaits president Barack Obama's reports on efforts to save GM and Chrysler.
An offer from GM is a "first shot, a starting point" for negotiations, said a GM bondholder told CNBC, but "there’s great disparity between the bondholders versus labor."
The Environmental Protection Agency is putting on hold hundreds of mountaintop coal-mining permits until it can evaluate the projects' impacts on streams and wetlands.
GM bondholders sent a letter to Treasury Secretary Timothy Geithner and the leaders of the auto task force Sunday expressing frustration that they have received no response from either GM or the auto task force regarding their suggestions for a near $28 billion debt exchange.
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A jury awarded about $150 million to 91 families Thursday who sued Exxon Mobil over wells contaminated by a gasoline leak north of Baltimore.
The F-35 Joint Strike Fighter from Lockheed Martin is the most expensive defense program in history. Costs could reach $1 trillion, between buying the aircraft and supporting it for decades.
The White House was watching Warren Buffett this morning on CNBC. Today Press Secretary Robert Gibbs responded to Buffett's comment that both parties, but especially the Democrats, are trying to use the economic crisis to push partisan goals.
Autonation CEO Mike Jackson said today that despite the government’s push towards fuel-efficient vehicles, the creation of green cars will not spur auto sales.
General Motors expects weak sales in the US for February, which will be an "exceptionally weak" fleet month for automakers, GM's chief operating officer told CNBC.
The Democratic-controlled House approved $410 billion legislation Wednesday that boosted domestic programs, bristled with earmarks and chipped away at policies left behind by the Bush administration. The vote was 245-178, largely along party lines.
Executives of the biggest oil companies are taking their case for expanded offshore drilling to Congress, even as Democratic congressional leaders and the Obama administration promise to put some limits on energy development along the nation's coasts.
Christophe de Margerie doesn't see a bounce back this year, saying 2010 is more likely.
OPEC should look to reduce oil supply further if demand is insufficient to absorb supplies, Iraq's oil minister said on Tuesday.
“The current situation has nothing in common with the Great Depression,” says one economist. “The sooner they [in Washington] stop spinning the bad news story and say nothing, the sooner we’ll be more confident.”