top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

5 Oct 2021

Amplify Energy Stocks Fall by 44% after Oil Spill

The Index Today

Amplify Energy Corporation saw its stocks plummet over 44% to $3.23 on Monday as the California Oil Spill continued. The Energy firm reportedly lost half of its market value and had to seize all of its oil and gas production.

It has been estimated that around 126,000 gallon spill occurred from Newport Beach all the way down to Huntington Beach. Amplify has had to close down it pipeline operations in the oil spill area and has sent a remotely operated vehicle to search for the source of the oil spill.

Chief Executive of Amplify has said their oil platform has an oil input from around 70 wells which is then sourced to refineries. Workers conducting a line inspection reported seeing a sheen in the water which was then notified to the Coast Guard. Residents in the affected area have been told to avoid swimming and surfing until the clean-up process is complete.

©Photo: AP Photo/Ringo H.W. Chiu

Clay pottery with table linens
bottom of page