Camila Domonoske

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The European Union has a sweeping plan to tackle climate change, and that plan has the potential to reshape the continent's economy. European Commission President Ursula von der Leyen made the case for it yesterday.

Oil prices have been rising steadily for months. You've probably noticed one big consequence — average gasoline prices have climbed to seven-year highs.

As early as last week, the expectations were that oil prices would either stabilize or rise gradually — until an OPEC+ meeting that was supposed to be routine ended in an unexpected impasse, with no agreement on what to do about oil production.

Now analysts are bracing for everything from a price spike to a price plunge. As millions of Americans hit the road again, there's just no certainty around where crude is headed.

United Airlines is placing a jumbo-sized order of narrow-body aircraft. The company is purchasing 270 new planes from Boeing and Airbus.

Last year, U.S. airlines were fighting to survive. Struggling in the depths of the pandemic, they received an infusion of cash and cheap loans from the U.S. government and, between aid packages, furloughed tens of thousands of workers.

Things have changed, clearly.

Stock markets? Open. Post office? Open.

Federal courts? Schools? Banks? Businesses? It depends.

Juneteenth, the holiday commemorating the end of slavery by marking the day enslaved people in Texas learned they were free, is now a federal holiday. The move comes after growing support nationwide for observing the day of celebration and reflection.

But actual practices for marking the holiday still vary widely.

Lordstown Motors launched with huge ambitions — and a redemption story. Today it's scrambling for cash and trying to assuage investor anxieties.

The stumble of the much-hyped electric truck manufacturer offers a glimpse at the do-or-die moment facing many electric vehicle startups. They successfully sold an idea to investors. But now can they actually deliver vehicles to buyers?

It all started when the electric truck startup bought the giant Lordstown, Ohio, auto plant that General Motors had just shut down.

Big Oil is standing on the precipice of something. But no one can agree what it is. A long, slow decline? An abrupt collapse? A remarkable reinvention?

Mounting urgency about climate change has finally reached the boardrooms of Exxon Mobil, BP, Shell and other international oil companies. Under intense pressure, these companies are universally pledging to prepare for a low-carbon or "lower-carbon" future.

This week's news was nothing short of astonishing.

A court in the Netherlands issued a landmark ruling against Royal Dutch Shell — an oil company already pledging to cut its carbon emissions to net zero by 2050 — ordering it to act faster.

Updated at 7:15 p.m. ET

In a dramatic boardroom battle on Wednesday, a tiny hedge fund fought with the energy giant ExxonMobil over the future of the oil and gas industry — and won.

The brand-new activist hedge fund, Engine No. 1, successfully placed at least two new candidates on the company's board of directors in hopes that they can use that position to push Exxon to take climate change more seriously. For two more seats on the board, the vote was too close to call.

There's a lot riding on the F-150 Lightning, the all-electric pickup that Ford unveiled Wednesday.

For the company, it represents a big strategic bet on the rise of electric vehicles — one that nearly every rival automaker is also making. And it's also a symbol for the vision of America that President Biden has been promoting: made in America, pairing blue-collar roots and high-tech ambitions, fighting climate change without making compromises.

It will take several days for the supply chain of gasoline, diesel and jet fuel to normalize fully even after the restart of full operations at a critical pipeline that was shut down this month.

Colonial Pipeline said late Thursday it had brought its entire pipeline system back into operation, noting that "product delivery has commenced to all markets we serve."

The company had to shut down its pipelines after suffering a cyberattack last week, sparking a wave of panic-buying that emptied many gas stations across the Southeast.

Updated May 12, 2021 at 6:01 PM ET

Colonial Pipeline said Wednesday it has "initiated the restart of pipeline operations" after suffering a cyberattack while warning it would take several days for supply to return to normal.

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Last month, Ford announced it would allow staff who have been working remotely to remain remote — at least some of the time — long after the pandemic is over.

"Must be nice for them," thought Marcie Pedraza, an electrician at a Ford plant in Chicago. Like many workers across the U.S., from factories to grocery stores, working from home has never been an option for her. And that presents a challenge for companies frantically rewriting their remote work policies: How do you make the change feel fair, when not all employees can benefit?

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Supply chain disruptions are taking a bite out of Apple, and it may make it harder to get your hands on that shiny new tablet or laptop.

Apple warns it can't make enough iPads and Macs to keep up with demand, thanks to the global shortage in semiconductors that has already disrupted production at almost every major car company, from Ford to VW.

Luca Maestri, Apple's chief financial officer, said late Wednesday that the lack of supply will cut into sales of both these products and lop off between $3 billion to $4 billion of its revenue in the next three months.

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