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Chevron's oil and gas reserves have fallen to the lowest point in at least a decade, highlighting the importance of the U.S. major's planned acquisition of oil producer Hess that has stalled due to a court battle with Exxon Mobil. If Chevron closes the Hess acquisition, it would gain a stake in the lucrative Guyana oilfields that are operated by Chevron's rival, Exxon. Exxon and CNOOC, the other minority partner in the Guyana field, have challenged Chevron's bid for Hess in court, saying that they have first right of refusal on Hess's equity in the project.

WASHINGTON (Reuters) -The U.S. Federal Reserve is in no rush to cut its short-term interest rate again given an economy that is "strong overall," with low unemployment and inflation that remains above the Fed's 2% target, Fed Chair Jerome Powell said in opening remarks prepared for delivery at a Senate Banking Committee hearing. "The economy is strong overall and has made significant progress toward our goals over the past two years," Powell said, with a 4% jobless rate considered around the level of full employment, and inflation lower though still more than half a percentage point above the Fed's target.

As part of President Donald Trump's efforts to trim government spending, the Office of Personnel Management recently offered more than two million federal employees full pay and benefits until...

These are today's mortgage and refinance rates. Rates have been stagnant for a week, but tomorrow's CPI could cause more noticeable shifts. Lock in your rate today.

Fed officials are wary about getting through turn-of-the-year price resets, which contributed to big inflation jumps in recent years.

U.S. tariffs are an "evolving story" and it is too early to assess their impact on the world economy, International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday. "So when I think of the impact on the world economy, my answer to you would be today, it's too early to say." Georgieva said the world economy appeared remarkably resilient, despite a series of unprecedented shocks.

All architecture student Amirhossein Azizi wanted for his 19th birthday was the latest iPhone — and for Iran's cash-strapped theocracy, it was just the gift they needed as well. An additional 450 million rials ($530) is required for import fees and registration on government-managed mobile phone networks. The purchase is only possible after Iran lifted import bans on expensive goods like foreign cars and new iPhones, yielding to public demand for the products while also trying to mask the dire straits of its economy.