By Sabrina Valle (Reuters) -The U.S. Federal Trade Commission is expected to greenlight U.S. oil producer Chevron (NYSE:)’s purchase of Hess (NYSE:) as soon as this week, two people familiar with the matter said, leaving Exxon Mobil (NYSE:)’s challenge to the $53 billion deal as its final hurdle. The proposed merger was first announced last October, and the FTC sent a second information request to Chevron two months later. Hess shares were up as much as 3% in after-hours trading on Monday following the news. Uncertainty over the deal’s closing has knocked Chevron shares down 1% this year compared to…
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Nearly 60% of the world’s major listed companies have declared that they are aiming for carbon neutrality by 2050.This trend is particularly marked in Asia, where Japanese, Chinese and South Korean multinationals have seen their number of commitments increase in recent years.However, these announcements conceal a more complex reality: the majority of companies use offsetting mechanisms to compensate for their inability to effectively reduce their greenhouse gas emissions.The report by the Net Zero Tracker consortium reveals that only 5% of companies surveyed meet all the carbon neutrality criteria defined by independent bodies such as the UN.These criteria include precise emission…
By Jonathan Landay and David Brunnstrom WASHINGTON (Reuters) -Russia has generated more AI content to influence the U.S. presidential election than any other foreign power as part of its broader effort to boost Republican candidate Donald Trump over Democrat Kamala Harris, a U.S. intelligence official said on Monday. The official from the Office of the Director of National Intelligence (ODNI), speaking on condition of anonymity, made the comment in a briefing to reporters on the alleged use of AI by Russia and other countries to influence the Nov. 5 vote. AI content produced by Moscow is “consistent with Russia’s broader…
Mark Robinson, lieutenant governor of North Carolina and candidate for governor, speaks prior to Republican presidential nominee former President Donald Trump speaking at a campaign event at Harrah’s Cherokee Center in Asheville, North Carolina, on Aug. 14, 2024.Grant Baldwin | Getty ImagesThe political network largely funded by billionaire industrialist Charles Koch has been quietly backing North Carolina Lt. Gov. Mark Robinson despite a litany of controversies, according to records uncovered by CNBC.The Koch-backed Americans for Prosperity ran digital advertisements supporting Robinson as recently as this month. It’s also funded pro-Robinson door knocking, launched a website that encouraged voters to thank…
In 2022, as the Federal Reserve was rapidly raising its target interest rate to counter inflation, investors and economists described it as the end of an era. Decades of historically low interest rates juiced returns and materially altered investing.But a new period has begun. The biggest impact on investing during the coming decades won’t be how high or low rates are, it will be earth’s oceans, according to a new report by Investcorp. “The sweeping transformations wrought by warming and climate change will be the most important and profound investment shift of the next several decades, posing enormous opportunity for…
Value-investing legend Bill Nygren says the S&P 500 lacks the diversification it once had.He likes to invest in inexpensive companies with enough capital on hand to consistently buy back shares.Nygren mentioned Corebridge Financial as a top pick that checks all his boxes. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking “unsubscribe” at the bottom of the email. The S&P 500 isn’t…
If Russia’s war on Ukraine shocked Europe into realising the folly of its dependence on Moscow for gas suppplies, growing geopolitical uncertainty has forced the EU to consider where it sources the raw materials, from copper to rare earth metals, needed for the energy transition. ADVERTISEMENTOn 5 April, European Commission executive vice-president Valdis Dombrovskis and Uzbekistan’s Minister of investment, industry and trade Laziz Kudratov launched a strategic partnership on critical raw materials. This was only the latest such deal, part of a concerted diplomatic and political effort by the von der Leyen commission to secure access to a range of…
Microsoft (MSFT) received a rare Wall Street downgrade on Monday over concerns the tech giant’s artificial intelligence lead is diminishing and that it has become too reliant on Nvidia (NVDA) for its AI infrastructure.Analysts at D.A. Davidson downgraded the stock to Neutral from Buy, keeping their price target unchanged at $475, which still implies around an 8% upside from current levels.The firm noted that Microsoft’s early investments and commercial product rollouts initially gave the company an advantage over Amazon (AMZN) and Google (GOOGL, GOOG), who it said were both “caught flat-footed.”Since then, Amazon and Google “have invested in catching up…
Beasley Broadcast Group Inc. (NASDAQ:) has enacted a 1-for-20 reverse stock split of its Class A and Class B common stock, effective today. The adjustment was made official through a Certificate of Amendment to its Amended and Restated Certificate of Incorporation filed with the Secretary of State of Delaware. The reverse stock split, which became effective as of 11:59 p.m. Eastern Time today, means that for every 20 shares of Beasley Broadcast Group’s common stock held by a shareholder, they will now own a single share. No fractional shares will be issued in the process; instead, the company will compensate…
It appears that the recent backlash against BMW’s bold design choices has finally reached the top brass. The Bavarian automaker is undergoing a significant restructuring of its design teams, effective October 1st. While Adrian van Hooydonk remains the chief designer, Domagoj Dukec, who has been at the helm of BMW’s design since 2019, is being reassigned to Rolls-Royce. To address the concerns surrounding the controversial designs of models like the XM and the 7 Series, BMW has divided its design responsibilities between two teams. Oliver Heilmer, previously the chief designer at MINI, will now oversee the design of small to…