Traffic drives past the Phillips 66 refinery in Westminster, California, USA, 25 November 2024. On 20 November 2024, a federal grand jury indicted Phillips 66 on charges of violating the Clean Water Act by dumping 790,000 gallons of contaminated wastewater into the Los Angeles County sewer system and failing to report the incident to authorities. Phillips 66 faces federal charges of violating the Clean Water Act by polluting Los Angeles sewers with 790,000 gallons of wastewater, Westminster, USA - 25 Nov 2024
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Why Trump’s effort to build more refineries won’t lower gas prices
President Donald Trump wants to reverse the decades-long decline in the number of US refineries in operation, which he believes is key to lowering gas prices, and he recently called oil executives to the White House to make that push.
Can the oil market survive a forever war with Iran?
The Iran war has lasted far longer than many expected — and so has a functioning oil market.
Inflation heated up last month, boosting the case for a Fed rate hike
Consumer prices rose at a 3.4% annual rate last month, the same pace as July, according to the latest Consumer Price Index from the Bureau of Labor Statistics.
America can’t grow its way out of its debt problem
The US economy is staring down the barrel of $40 trillion in debt, bond yields on the cusp of a 19-year high and a costly war driving inflation higher. The Trump administration has a novel solution: We’ll just grow our way out of the problem.
From pony fur to bamboo furniture, Trump’s trade war with Canada is getting even weirder
What do pony fur, sequins, golf carts, bamboo furniture and mezcal have in common? Until Tuesday evening, not much. Now they’re among what could soon be unlikely casualties of President Donald Trump’s intensifying trade war with Canada.
9/11 footage is reaching new audiences — and fueling old conspiracy theories
Even 25 years later, the planes keep crashing, and the towers keep falling. All across the web, people who are old enough to remember September 11, 2001, are rewatching the attacks and rereading about the aftermath, often via devices and platforms that didn’t exist 25 years ago.
What it’s like to use the iPhone Duo, Apple’s biggest change to the iPhone in its history
The iPhone is getting the biggest change in its nearly 20-year history: a screen that can bend in half.
Trump’s $5,000 checks would solve a problem that doesn’t exist – and create a new one
America’s economy has a perception problem: People think it’s weak, because prices are high. In reality, the economy is growing strong – probably too strong.
Global oil hits $105 per barrel and bond yields surge
Oil prices rose Thursday, with Brent crude hitting $105 per barrel for the first time since May, as traders brace for a more prolonged supply shock caused by the Iran war.

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War in Iran

A commercial vessel passes through an international shipping lane in the Red Sea on July 27.
Khaled Ziad/AFP/Getty Images
The Bab al-Mandeb Strait, a lifeline for the global economy, is in jeopardy
A narrow waterway located at the mouth of the Red Sea has provided an escape hatch for a sizeable chunk of the Middle East’s oil. That lifeline is now looking increasingly shaky.

Affordability in America

Some renters are turning to unconventional living arrangements to make life in the Big Apple a little more affordable. Katie Rettig, pictured here in Chelsea, New York, lived in a convent to keep costs down.
Marco Postigo Storel/CNN
From living with nuns to sharing with seniors, here are the unconventional ways people are affording NYC
As New York City rents climb, some young residents, still early in their careers, are turning to unconventional living arrangements to make city life work.

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A woman walks her dogs under the sunshine in Jiangbei District, southwest China's Chongqing Municipality, Aug. 2, 2025. Chongqing issued a heatwave alert on Saturday, with high temperature hitting 40-43 degrees Celsius. (Photo by Chen Cheng/Xinhua via Getty Images)
Chen Cheng/Xinhua/Getty Images
Karaoke for one: China’s $1 trillion ‘loneliness economy’ gives a glimpse of the world’s future
A growing cohort is fast reshaping the profile of the Asian consumer: the single, childless or otherwise alone.
James Talarico blasts Trump FCC’s ‘dangerous’ cancel culture over Kimmel interview ordeal
Talarico, the Texas Democratic Senate candidate, says the Trump administration is committing “the most dangerous form of cancel culture” by pressuring TV stations.
Are you struggling with record diesel and rising gas prices? Share your story
Stubbornly high diesel and gas prices are burning a hole in many Americans’ wallets, forcing some to cut back on their spending or make more drastic changes.
Rich nations are handing Nepal a climate crisis bill it can’t afford
Work to rebuild trade routes destroyed by catastrophic flooding in Nepal has begun, with a new bridge across the Tadi River that the Nepali Army is calling the “bridge of hope.”

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