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Over the past several years, dozens of cities and states have sued big oil companies, seeking to hold the producers of fossil fuels accountable for their role in causing climate change. But this week, a closely watched case out of Hawaii took what could be a pivotal step toward the Supreme Court and have a cascading effect on the legal fight to hold fossil fuel companies accountable. The case was brought by the city of Honolulu against Sunoco and other big oil companies in 2020. Last year, the Hawaii state supreme court ruled the case could go to trial. But a coalition of energy firms, including ExxonMobil and Chevron, appealed that decision, asking the U.S. Supreme Court to stop the case from moving forward.
Organizations: Exxon, Chevron, Supreme, ExxonMobil, U.S Locations: Hawaii, Honolulu, Sunoco
Former President Donald Trump will address some of the world's most powerful corporate leaders on Thursday, albeit with some notable absences. So here's what we know: Out of the 17 corporate spokespeople who replied to CNBC, four said their CEOs planned to attend: JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser, Bank of America CEO Brian Moynihan and Edison International CEO Pedro Pizarro. BlackRock CEO Larry Fink and Microsoft CEO Satya Nadella, for instance, will reportedly be at the G7 summit in Italy. Representatives for Woods and Bastian did not reply to questions about why their chief executives won't be attending the meeting. Fox Corp. CEO Lachlan Murdoch, Best Buy CEO Corie Barry and Boeing CEO Dave Calhoun will also not be there, spokespeople told CNBC Thursday.
Persons: Donald Trump, Bank of America Brian Moynihan, Joe Biden's, Jeff Zients, , Jamie Dimon, Jane Fraser ,, Brian Moynihan, Pedro Pizarro, Trump, Steve Schwarzman, Goldman Sachs, David Solomon, Sara Armbruster, Darren Woods, Ed Bastian, Morgan Stanley, Ted Pick, James Gorman, Lynn Good, Solomon, Larry Fink, Satya Nadella, Woods, Bastian, Fink, Nadella, Lachlan Murdoch, Corie Barry, Dave Calhoun, spokespeople Organizations: Bank of America, White, Business, CNBC, JPMorgan Chase, Citigroup, Jane Fraser , Bank of America, Edison International, Trump, Blackstone Group, ExxonMobil, Delta Air, Duke Energy, BlackRock, Microsoft, Fox Corp Locations: Washington , DC, Trump, Italy, Washington
New York CNN —Meme stock mania is back. Meme stocks saw a resurgence last month after Keith Gill, an investor who helped stoke the meme stock frenzy in 2021, made his first post on X in three years. For many traders who experienced the original meme stock craze, the phenomenon has prompted a wave of deja vu. Still, there are key differences between the reignited 2024 meme stock craze and the original in 2021. While GameStop shares have surged in recent weeks, it is still down 65% from its record high closing price in 2021.
Persons: Keith Gill, ” Gill, Gill, , that’s, Craig Sarembock, , Joe Biden, Donald Trump, Trump, Biden, Samantha Delouya, That’s, Elon Musk, OpenAI, Hanna Ziady, ” Musk, Apple Organizations: CNN Business, Bell, New York CNN, stoke, GameStop, CNN, Federal Reserve, Bartlett Wealth Management, Global, ExxonMobil, Chevron, ConocoPhillips, EOG Resources, Schlumberger, Apple, SpaceX, Bluetooth, OpenAI, Developers Locations: New York, United States, OpenAI
CNN —Nearly four years ago, while campaigning in the runup to the last presidential election, Donald Trump warned that President Joe Biden would “destroy” the oil industry. In the last three and a half years, US oil production — and oil and gas company profits — have broken records. That’s a 160% jump compared to the first three years of the pro-big-oil Trump administration, according to calculations by CNN. However, in March, the Biden administration approved ConocoPhillips’ massive Willow oil drilling project on Alaska’s North Slope, which holds around 600 million barrels of oil, angering climate advocates. Despite his mixed record with oil and gas companies, though, Biden has presided over a historic run for the industry, Kloza said.
Persons: Donald Trump, Joe Biden, Trump, Biden, That’s, , Tom Kloza, , Hess, Chevron’s, Abdullah Hasan, Darren Woods, Mike Wirth, Woods, Obama, Bob McNally, Kloza, ” Kloza, “ It’s Organizations: CNN, Global, ExxonMobil, Chevron, ConocoPhillips, Resources, Schlumberger, Oil Price Information Service, US Energy Information Administration, Oil, Natural Resources, Exxon, White, Shareholders, Microsoft, Apple, The Washington Post, Keystone XL, Rapidan Energy Group, Republican Locations: United States, Ukraine, Boon, dealmaking, The
Aramco will offer 1.545 billion shares in a price range between 26.70 and 29 Saudi riyals per share, according to a company filing. At the midpoint of that range, the sale would total nearly $11.5 billion. The sale represents a follow-on offering, after Aramco initially entered the public markets in 2019 and raised $29.4 billion in the world's largest ever initial public offering. Aramco lifted its base dividend for the fourth quarter to $20.3 billion, and boosted its performance-linked dividend to $10.8 billion. Saudi Arabia owns more than 82% of Aramco prior to the sale, the Wall Street Journal has reported.
Persons: Abdulaziz bin Salman, Prince Mohammed bin Salman, — CNBC's Spencer Kimball Organizations: Aramco, Plaza Conference, Saudi, Saudi Energy, Chevron, ExxonMobil, giga, Wall Street Locations: Dhahran, Saudi Arabia, Saudi Arabia's, Aramco, Riyadh, Saudi, Neom
Big oil shareholders could get a lot richer
  + stars: | 2024-05-30 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
New York CNN —Big oil just got bigger, and shareholders could soon be getting richer. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall, reports my colleague Nathaniel Meyersohn. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods. Dollar Tree also owns Family Dollar, based mostly in cities. Family Dollar has underperformed Dollar Tree and other discount chains in recent years, and it’s closing 975 stores.
Persons: Stewart Glickman, , “ it’s, Stewart, Hess, McDonald’s, Joe Erlinger, , Danielle Wiener, Bronner, they’re, Chris Kempczinski, ” Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, ConocoPhillips, Marathon, Diamondback, Endeavor Energy Partners, , McDonald’s, America, Mac, Locations: New York, multibillion, McDonald’s USA, U.S, Arizona , California , Nevada, Texas, Virginia, West Coast
ConocoPhillips said Wednesday it had agreed to buy Marathon Oil in an all-stock deal worth $22.5 billion, including about $5.4 billion of debt. Marathon Oil shareholders will receive 0.255 ConocoPhillips shares for each Marathon share they own, representing a 14.7% premium to the closing price on Tuesday. Shares of Marathon (MRO) were up more than 10% in premarket trade, while Conoco (COP) stock was down about 2%. “This acquisition of Marathon Oil further deepens our portfolio and fits within our financial framework, adding high-quality, low cost of supply inventory,” Ryan Lance, ConocoPhillips CEO, said in a statement. Until 1962, Marathon Oil was called The Ohio Oil Company, which was founded in 1887 and was bought two years later by John D. Rockefeller’s Standard Oil.
Persons: Hess, ” Ryan Lance, John D, Lee Tillman, ” Tillman Organizations: London CNN, Big Oil, ConocoPhillips, Oil, Marathon Oil, Occidental, Diamondback Energy, Endeavor Energy Partners, Marathon, Financial Times, Devon Energy, Ohio Oil Company Locations: Conoco, Houston, multibillion
New York CNN —Congressional Democrats are investigating whether leading US oil companies have illegally colluded with one another and with OPEC to inflate prices at the pump, CNN has learned. The Federal Trade Commission earlier this month accused Sheffield, the founder of Pioneer Natural Resources, of conspiring with OPEC and its allies to boost prices. Pallone argued that public data suggests US oil producers did not ramp up drilling during the period that Sheffield was trying to influence his rivals. Pallone sent Exxon additional document demands, including communications between Pioneer employees who were involved in developing production plans and representatives of OPEC and OPEC+. Sheffield was among the oil CEOs who testified before Pallone’s committee during an April 2022 hearing on Big Oil and gas prices.
Persons: Frank Pallone Jr, , Scott Sheffield, , ” Pallone, Sheffield, Hess, Pallone Organizations: New, New York CNN, Congressional, OPEC, CNN, Committee, Energy, Commerce, ExxonMobil, BP, New Jersey Democrat, Federal Trade Commission, Sheffield, Pioneer Natural Resources, FTC, Oil, Exxon, Chevron, Shell USA, Devon Energy, Big, Locations: New York, Chevron, Hess, BP America, New Jersey, Texas, OPEC, Russia, colluding, United States, , Occidental
Exxon Mobil 's monthslong battle with two environmentally focused activist investors has cost the company the support of the California Public Employees' Retirement System. The two activists submitted a shareholder proposal that would have forced the company to reduce direct emissions and set a target for lowering emissions at suppliers and customers. Exxon sued the investors in Texas federal court in January, prompting them to withdraw the proposal. Even with the activists backing off, Exxon has continued its lawsuit to prevent the activists from ever again submitting such a proposal. CalPERS said in its letter that Exxon's "reckless" lawsuit threatened shareholder activism efforts on any issue.
Persons: Darren Woods, Arjuna, CalPERS, Marcie Frost, Theresa Taylor, it's, Greg Goff, Kaisa Hietala, Andy Karsner, Jeff Ubben Organizations: APEC, Summit, Moscone West, Exxon Mobil, California Public Employees, Exxon, CNBC, ExxonMobil, Securities and Exchange Commission, Inclusive Capital Locations: San Francisco , California, Texas
Stock Chart Icon Stock chart icon The Dow, all-timeThe average was created by Charles Dow in 1896 with just 12 industrial stocks. Paired with the Dow Jones Transportation Average , the two were collectively meant to offer a gauge for the broader economy. The sole caveat: No utility or transportation stocks are included, given the existence of the Dow Jones Utility Average and Transportation Average. 1972: Dow hits 1,000It may be hard to imagine given the recent achievement, but the Dow traded below 1,000 until the early 1970s. The Dow saw its worst year since 2008 in 2022, though 2023's rebound allowed the index to erase those losses.
Persons: Spencer Platt, Dow, Charles Dow, There's, Richard Nixon, Alcoa Esmark, Du Pont, Dow didn't, Walt Disney, Eastman Kodak Merck Alcoa ExxonMobil Phillip Morris, T General Motors Sears, Morgan, Phillip Morris, Walmart Du Pont J.P, Morgan Chase Walt, Donald Trump, General Electric Nike American Express Goldman Sachs, Morgan Chase, Johnson, Joe Biden, Trump, Goldman Sachs, Gamble Amgen, Organizations: New York Stock Exchange, Getty, Dow Jones, Dow Jones Transportation, P Global, Dow, CNBC, General Foods, Harvester, Chevron, Procter, Gamble, Alcoa, Manville, ExxonMobil, Illinois Glass American Tobacco General Electric Procter, General Foods Sears Roebuck AT, T General Motors Texaco Bethlehem Steel, T General Motors Texaco Bethlehem Steel Goodyear Union Carbide Chevron Honeywell United Technologies Chrysler International Harvester US, Nickel Westinghouse Electric Eastman Kodak International, Woolworth, Oasis, Eastman Kodak Merck Alcoa ExxonMobil, Express General Electric Procter, Gamble AT, T General Motors, T General Motors Sears Roebuck Bethlehem Steel Goodyear Texaco Boeing Honeywell Union Carbide Caterpillar IBM United Technologies Chevron International, Walt Disney, Morgan Chase Westinghouse, Apple, Microsoft, Sears and Union Carbide, Eastman Kodak Johnson, Johnson Alcoa ExxonMobil, American Express General Electric Merck AT, T, Goodyear Procter & Gamble Caterpillar Hewlett, Packard Sears, Chevron Honeywell Union Carbide Citigroup IBM United Technologies, Walmart, Morgan Chase Walt Disney, Visa, Travelers, Nike, General Electric Nike American Express, General Electric Nike American Express Goldman Sachs Pfizer Apple Home Depot Procter, Gamble Boeing IBM Travelers Caterpillar Intel United Technologies Chevron, Morgan Chase UnitedHealth, Cisco Systems Johnson, Johnson Verizon, Cola McDonald’s, Du Pont Merck Walmart ExxonMobil Microsoft Corporation Walt Disney, Exxon Mobil, Walgreens Boots Alliance, Goldman Sachs Nike American Express Home Depot Procter, Gamble Amgen Honeywell, Apple Intel Travelers Cos Boeing IBM, Caterpillar Johnson, Johnson Verizon Chevron, Cisco Systems, Walgreens, Alliance Coca Cola Merck Walmart Dow Microsoft Walt Disney Locations: New York City, T General Motors Texaco Bethlehem Steel Goodyear, America
Anti-Israel protesters are just engaging in a form of performance art, says Citadel CEO Ken Griffin. Griffin said he was pausing his donations to Harvard over its approach to on campus antisemitism. AdvertisementCitadel founder and CEO Ken Griffin, 55, isn't a fan of the anti-Israel protesters that have taken over American college campuses. That's just anarchy," Griffin said of the student protesters. Griffin's criticisms of student protesters highlight the huge influence that Corporate America has on higher education.
Persons: Ken Griffin, Griffin, , we're, That's, Griffin didn't, Harvard didn't, Darren Woods, Kevin O'Leary, O'Leary Organizations: Israel, Citadel, Harvard, Service, Financial Times, Columbia University, UCLA, The New York Times, BI, mater, Harvard University, Harvard Gazette, Senate, IBM, Funds Association Network Miami, Ivy League, CNBC, Fox News Locations: Israel
The transactional campaign promise indicates what a second Trump presidency would mean for the White House's environmental agenda. Pornsak Na Nakorn/EyeEm/GettyWhile Biden has positioned the climate crisis as an existential threat and championed aggressive environmental regulations, Trump has dismissed it as a hoax and systematically dismantled environmental protections during his tenure. Related storiesSince taking office in 2021, Biden has swiftly reversed many of Trump's environmental actions, including blocking future oil drilling in the Alaskan Arctic. However, despite oil industry grievances over Biden's policies, the US has experienced record oil production, leading to substantial profits for major energy companies like ExxonMobil and Chevron, said The Post. As the campaign trail heats up, Trump's message to the oil industry remains clear: support him, and he'll deliver on their demands.
Persons: , Donald Trump, Joe, Trump, Getty, Biden, BI's Benji Jones, he'll Organizations: Service, Lago Club, The Washington Post, Business, Democratic, Post, Keystone XL, ExxonMobil, Chevron, Trump, Fox News, Iowa Locations: Gulf of Mexico
Plenty of companies are reining in their rhetoric and in some cases action on issues such as sustainability and diversity. Over the past decade, many corporations have at least professed to take a more active role in social issues, under pressure from their customers and, more importantly, employees. After last year's Bud Light debacle, which was a real blow to its business, executives fear they'll be the next target of some anti-woke outcry. For the fourth quarter of 2020, 131 companies mentioned ESG, and 34 mentioned DEI or diversity and inclusion. This may be a great un-wokening, but maybe corporate America was actually never that committed to the idea in the first place.
Persons: Paul Polman, It's, Naomi Wheeless, Eventbrite, Donald Trump, Larry Fink, George Floyd's, ESG, Andrew Jones, there's, Bud Light, influencer Dylan Mulvaney, haven't, Philip Mirvis, Bud, they'll, they'd, Jones, it's, Fink, FactSet, — we're, wasn't, Alison Taylor, University's, we've, Roe, Wade, Taylor, isn't, Dylan Mulvaney, Bud Light's, Kenneth Pucker, Emily Stewart Organizations: Unilever, Unilever wasn't, Unilever isn't, Companies, Business, Sporting Goods, Conference Board's ESG, Morningstar, Babson, AIG, Amazon, ExxonMobil, University's Stern School of Business, Anheuser, Busch, Fletcher School, Tufts University Locations: Plenty, America, ESG, New, Charlottesville
New York CNN —Scott Sheffield, the founder and longtime CEO of a leading American oil producer, attempted to collude with OPEC and its allies to inflate prices, federal regulators alleged on Thursday. Regulators say Sheffield, then the CEO of Pioneer Natural Resources, used WhatsApp conversations, in-person meetings and public statements to try to “align oil production” in the Permian Basin in Texas with that of OPEC and OPEC+, the wider group that includes Russia. Unlike with OPEC nations, US oil production is supposed to be decided by the free market, not by coordination among the major players. The FTC said that while Sheffield was discussing efforts to coordinate output with other Texas producers, the Pioneer CEO said: “If Texas leads the way, maybe we can get OPEC to cut production. Exxon said that in response to the FTC’s concerns, it will not add Sheffield to its board.
Persons: New York CNN — Scott Sheffield, “ Mr, , Kyle Mach, Sheffield “, Douglas Farrar, Sheffield, , Exxon Organizations: New, New York CNN, OPEC, Federal Trade Commission, Sheffield, Organization of, Petroleum, Saudi Arabia, Regulators, Pioneer Natural Resources, FTC, ExxonMobil, Competition, CNN, Railroad Commission, Texas, Exxon Locations: New York, American, Saudi, Sheffield, Texas, OPEC, Russia, FTC’s, Saudi Arabia
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at how the latest GDP data has shifted the expectations of where the economy is headed. Now, the economy will need some type of event (see: bubble popping) for rate cuts to become an option anytime soon, Miskin said. Energy price shocks could bring the world economy to a "vulnerable moment," chief economist Indermit Gill warned.
Persons: , TikTok, they're, you'd, Jia Feng, It'll, Insider's Madison Hoff, It's, Jerome Powell, Anna Moneymaker, BI's Filip De Mott, Jamie Dimon, Matt Miskin, Miskin, Mark Zuckerberg, C, Cox, Jenny Chang, Rodriguez, Goldman Sachs, Guess what's, Indermit Gill, Alphabet's, Redmond, Tyler Le, Doug McMillon, execs, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Reserve, stagflation, JPMorgan, Wall Street, John Hancock Investment Management, Galatioto Sports Partners, Bank, Google, Big Tech, Microsoft, Health, Linkedin, YouTube, ExxonMobil Locations: Chevron, New York, London
ExxonMobil and Chevron, the largest American energy companies, said on Friday that their earnings in the first quarter fell from a year earlier, pulled down by lower refining margins and plunging natural gas prices. But the oil and gas business remains highly profitable for the two giants even at a time of moderate oil prices. ExxonMobil said that earnings were $8.2 billion in the quarter, compared with $11.4 billion in the same period a year earlier. Their earnings were also hurt by falling prices for natural gas, a key fuel that is used in heating and industry. Natural gas prices, which soared after Russia’s invasion of Ukraine in 2022, have fallen sharply as markets adjusted.
Organizations: ExxonMobil, Chevron Locations: Ukraine
It's an urgent question — what do we do with the 40 million tons of plastic waste we produce annually? One year of plastic waste is roughly enough to smother the entirety of Manhattan a meter deep, and it has to go somewhere. For decades, America sent its plastic waste to countries like China and Indonesia. Unlike aluminum or glass, the plastic that can be recycled rarely results in replacing one recycled water bottle with another. By downcycling a tiny portion of plastic waste, companies can genuinely reuse a relatively small share of plastic, while convincing consumers that the industry has created a circular economy of infinitely recycled plastic.
Persons: Kartik Byma, they're, Tim Miller, Susan Freinkel, Nestlé, Lea Suzuki, Larry Thomas, what's, Taylor Dorrell, Biden, that's, Taylor, Miller, Kelley Sayre, Vicky Abou, it's, Mike Bloomberg, Bloomberg, Espen Barth Eide, Norway's, Abou, It's Organizations: Getty, America, Chevron, Exxon, Paper Stock, Plastics Industry Association, Organization for Economic Co, San Francisco, NPR, International Energy Agency, ExxonMobil, Alterra Energy, National Renewable Energy Laboratory, Royal Paper Stock, Akron, Buckeye Environmental, Business, Eastman Chemical Co, American Chemistry Council, New, Beyond Plastics, UN, Buckeye Environmental Network Locations: America, Manhattan, China, Thailand, Malaysia, Indonesia, AFP, Ohio, American, San Francisco, Akron, Taylor Dorrell Akron , Ohio, United States, Oregon, New York City
Heightened geopolitical tensions have triggered volatility in crude oil prices, but one strategist is looking keenly for opportunities in the energy sector. Stephen Ellis, energy and utilities strategist at Morningstar, said oil market volatility does present challenges and urged investors to be patient, which "regularly pays off within energy." Brent crude oil prices were trading around $86.50 on Apr. 'Quality' names within energy Ellis said he searches for quality names when selecting stocks in the energy space. "All of these are 'moaty' firms that have some upside to our fair value estimates, even in a period of high oil prices," Ellis explained.
Persons: Stephen Ellis, Ellis, Morningstar, SLB Morningstar, It's Organizations: Morningstar, CNBC Pro, TC Energy, APA Corp, ExxonMobil, Schlumberger Locations: Brent, Suriname
US stock futures climbed in premarket trading on Monday ahead of a big week of earnings reports. US GDP and inflation data could also move markets this week. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementInvestors will hope that the tech giants can give the market a much-needed boost, with artificial intelligence likely to be in focus.
Persons: Tesla, , Johnson, Kathleen Brooks Organizations: Microsoft, Service, Nasdaq, Dow Jones, ExxonMobil, Johnson
And even though gold prices are at an all-time high, many market watchers are still taking a shine to it. But even with a favorable outlook, gold should play a very different role in your portfolio than stocks or bonds, investing experts say. Why gold is up and could continue to riseDifferent investors cite different reasons for owning gold. In addition to a rising tide, a weakening U.S. dollar and falling bond rates have boosted gold prices of late, says Hayes. At lower rates, bonds and cash accounts "have less of a competitive advantage" over gold, he tells CNBC Make It.
Persons: it's, Tim Hayes, Ned Davis, Warren Buffett, It's, Ford O'Neill, we've, Hayes, Buffett Organizations: Ned, Ned Davis Research, Billionaire, Berkshire Hathaway, Fidelity, CNBC, Federal Reserve, ExxonMobil Locations: Berkshire, U.S
A large suburban Philadelphia county has joined dozens of other local governments around the country in suing the oil industry, asserting that major oil producers systematically deceived the public about their role in accelerating global warming. The county wants oil producers to pay to mitigate the damage caused by climate change. The county's 31 municipalities will spend $955 million through 2040 to address climate change impacts, the group forecast last year. It said climate change policy is the responsibility of Congress, not local governments and courts. Circuit Court of Appeals dismissed a lawsuit by New York City against five oil companies to recoup damages caused by global warming.
Persons: Gene DiGirolamo, Theodore J, Boutrous Jr, ” Ryan Meyers Organizations: D.C, Center, Climate Integrity, BP, Chevron, ConocoPhillips, ExxonMobil, Philips, Shell, American Petroleum Institute, U.S, Circuit, New Locations: Philadelphia, Bucks, California , Colorado, Hawaii , Illinois, Maryland , New Jersey , New York , Oregon, South Carolina, Puerto Rico, Washington, Bucks County, Pennsylvania, New York City
Missouri Secretary of State Jay Ashcroft speaks with reporters on Jan. 23 in Jefferson City, Missouri. In Wyoming, a GOP state senator forwarded an FGA draft bill to Secretary of State Chuck Gray that would prohibit sending out unsolicited absentee ballot request forms. Emails show the group strategized with the secretary of state’s office for weeks leading up to Ashcroft proposing his own such rule last January. FGA notches wins with weakened child labor lawsFGA’s lobbying group, The Opportunity Solutions Project, spearheads its efforts at the state level. Chip Somodevilla/Getty ImagesFGA also continues its push at the state level across the country to enact its policy priorities.
Persons: State Jay Ashcroft, , Ashcroft, Kacen Bayless, FGA, , Chuck Gray, ” Gray, Gray, , Joe Biden’s, Jay, Daniel Garrett, Garrett, “ It’s, Missouri’s, Scott Fitzpatrick, BlackRock, ” Fitzpatrick, Mark Felix, Fitzpatrick, ALEC, Andy Puzder, Carls Jr, ” Puzder, Kristina Shelton, Puzder, ” Kristina Shelton, they’ve, Tarren Bragdon, Rebecca Burkes, It’s, Tyson, , Bragdon, Sarah Bryner, Florida Governor Ron DeSantis, Paul Renner, Donald Trump, Chip Somodevilla, Shelton, ” Shelton Organizations: CNN, State, Republican, Foundation, Government, Missouri, Kansas City Star, Tribune, Service, GOP, Ashcroft, Conservative, Missouri Chamber of Commerce, National, University of Pennsylvania, Brookings Institution, Exxon, BlackRock, ” BlackRock, Energy, ExxonMobil, Washington Post, American Legislative Exchange Council, Heritage Foundation, Heritage, Boston, Wisconsin Democratic, FGA, Solutions, Tyson Foods Inc, George’s Inc, US Department of Labor, Solutions Project, Daily, The Heritage Foundation, Alliance, Trump, Florida Governor, Bragdon, Florida House, House, FBI, Justice Department, Department of Education, Center, Pleaides Locations: Missouri, Texas, Jefferson City , Missouri, Wyoming, Kansas , Indiana, BlackRock, Florida, ExxonMobil Baytown, Baytown , Texas, Washington, ” Wisconsin, Wisconsin, Arkansas, Iowa, Park City , Utah, DeSantis, Rome , Georgia
Through his office window, the head of Brazil’s state-run oil company looked out at the cluttered landscape of Rio de Janeiro. Looking back at him, across the city’s run-down high-rises, was the looming statue of Christ the Redeemer. This, even as his country positions itself as a leader in the fight against climate change which, of course, is primarily driven by the burning of oil and other fossil fuels. Petrobras already pumps about as much crude oil per year as ExxonMobil, according to Rystad Energy, a market research firm. It’s an enormous predicament for Brazil’s president, Luiz Inácio Lula da Silva, better known simply as Lula, who has fashioned himself as the pre-eminent world leader on climate issues.
Persons: Christ, Hawks, Luiz Inácio Lula da Silva, Lula Organizations: Redeemer, Petrobras, ExxonMobil, Rystad Energy, Saudi Locations: Rio de Janeiro, China, Russia, Kuwait
Employers are increasingly saying you don't need a college degree to get hired, but secretly, you still kind of do. During the same period, the share of job postings asking for a college degree or higher fell to 17.8% from 20.4%. In 2023, The New York Times' editorial board applauded various efforts in the public and private sectors to ax degree requirements for jobs. Having inflated degree requirements perpetuates the cycle of inequities in the workforce." A move toward skills-based hiring is a good thing socially, economically, and practically.
Persons: George Floyd's, didn't, It's, Matt Sigelman, Cory Stahle, would've, you've Organizations: aren't, The New York Times, Carlton, Harvard Business School, Glass, Apple, Walmart, ExxonMobil, Glass Institute, Employers
In today's big story, we're looking at why M&A could be staging a comeback and which bankers made the most of 2023 . The big storyDealmaker's delighttatomm/iStock, Tyler Le/BIThree monster deals announced in less than a week has Wall Street wondering: Is M&A back? But after a dreadful 2022 and 2023, dealmaking is showing signs of life, Business Insider's Theron Mohamed writes. Capital One, Truist, and Walmart announced acquisitions totaling $53 billion this week, leaving bankers hopeful the good times (and fees) are back. Deals represent an exit opportunity for companies, giving their investors (some of whom are employees) a chance to cash out.
Persons: Tyler Le, Theron Mohamed, Biden, Alex Morrell, Reed Alexander, Alyssa Powell, Emily Stewart, Wall, it's, M, Getty, Jenny Chang, Rodriguez, Jensen Huang, Goldman Sachs, Carlos Delgado, Associated Press Rivian, Rivian, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Federal Reserve, Walmart, Activision Blizzard, ExxonMobil, Cisco, Acquisitions, Activision, Wall Street, Big Tech, Nvidia, ING, Microsoft, Associated Press, BI, Google, Walgreens, Sunshine State, CVS, Intuit, Nestle, Square Locations: Europe, Florida, VillageMD, New York, London
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