President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
A former administrator of the Federal Emergency Management Agency was arrested Tuesday for taking bribes from the president of a company that landed $1.8 billion in federal contracts to repair Puerto Rico's electrical grid after Hurricane Maria devastated the island in September 2017.
Federal authorities arrested Ahsha Tribble, FEMA's former deputy administrator for the region that includes Puerto Rico. Donald Keith Ellison, the former president of Cobra Acquisitions was also arrested.
They were accused of "conspiracy to commit bribery of public officials; acts affecting a personal financial interest; false statements; disaster fraud; honest services wire fraud, Travel Act violations, and wire fraud," according to a statement from the Department of Justice.
Ms. Tribble and Mr. Ellison had a "close personal relationship" from October 2017 to April 2019, and Mr. Ellison gave Ms. Tribble gifts that ranged from personal helicopter use, hotel accommodations and personal security services, according to the DOJ statement.
In exchange, Ms. Tribble performed "official acts" including influencing, advising, and exerting pressure on Puerto Rico Electric Power Authority and FEMA officials, in order to award restoration work to Cobra and accelerate payments to the company.
"All government officials are entrusted with performing their duties honestly and ethically," said U.S. Attorney Rosa Emilia Rodríguez-Vélez for the District of Puerto Rico. "The charged offenses are reprehensible, more so in light of PREPA's and Puerto Rico's fiscal crisis."
FEMA said in a statement that the agency takes allegations of employee misconduct "extremely seriously" and added that they are "fully cooperating with federal investigators."
"FEMA's mission is to help the American people before, during, and after disasters and our mission can only be accomplished by maintaining the public trust and confidence of those we serve. As such, the Agency takes allegations of employee misconduct extremely seriously and holds all employees to the highest ethical standards – requiring them to protect government resources and place public service over private gain in everything they do."