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Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. In the late 1990s, the merger between Exxon and Mobil was valued around $80 billion. Exxon Mobil Corp. has been using some of that cash on acquisitions. In July the company announced that it was buying pipeline operator Denbury in an all-stock deal valued at $4.9 billion. In 2020 the company said it was buying Parsley Energy in an all-stock deal valued at approximately $4.5 billion.
Persons: Darren Woods, Scott Sheffield, Citi's Alastair Syme, Syme Organizations: Exxon Mobil, Natural Resources, Mobil, Exxon, XTO Energy, U.S . Energy Information Administration, Midland Basin, ExxonMobil, Pioneer, , Exxon Mobil Corp, Parsley Energy, DoublePoint Energy Locations: West Texas, Texas, New Mexico, Delaware, Midland, U.S
CASTLETON, Vt. (AP) — Vermont State Police are asking the public, businesses and hunters near a state university campus to review their surveillance systems after a retired dean and professor who was married to best-selling author Ron Powers was found shot to death on a rail trail this week. Police said Friday night an autopsy showed that Honoree Fleming, 77, of Castleton, died from a gunshot wound to the head on Thursday afternoon. She was found on the Delaware & Hudson Rail Trail about a mile (1.61 kilometers) south of the Castleton campus of Vermont State University, which was closed on Friday because of the investigation. A witness reported a possible suspect was northbound on the trail walking towards the campus after gunshots were heard, police said. Political Cartoons View All 1202 ImagesFleming was a beloved retired dean of education and researcher “with countless papers published," the university said in a statement Friday.
Persons: Ron Powers, Fleming, . Dan Trudeau, hasn't, “ We're, Trudeau, , Powers, Mark Twain, , ” Powers Organizations: — Vermont State Police, Police, Delaware & Hudson Rail, Vermont State University, People, Mental Health, “ Police Locations: CASTLETON, Vt, Castleton, Delaware, Iwo Jima, America
Prosecutors said Wednesday that two private jets linked to Sam Bankman-Fried are subject to forfeiture. FTX loaned a Bahamian jet charter company $28.4 million to buy the planes, Insider reported. AdvertisementAdvertisementTwo private jets linked to Sam Bankman-Fried are set to be confiscated by the US government, according to a forfeiture bill filed Wednesday. The court filing says he tried to sell the Global to help repay the loan, before the US Marshals Service seized it in February. Bankman-Fried, nor any other FTX executives, ever flew on the Global or Embraer, a person familiar with the situation previously told Insider.
Persons: Sam Bankman, FTX, , Damian Williams, Paul Aranha, Fried, Aranha, SBF's Organizations: Service, Bombardier Global, Embraer, EMB, Capital, IAC, Air Capital, Trans Island Airways, Global, US Marshals Service, Cessna Locations: Bahamian, Delaware, FTX, Florida, Bahamas
FTX loaned $28 million to a private jet company to finance its purchase of two jets, a court filing says. One of them has been in government custody since February, while the FTX Debtors claimed ownership of the planes in August. AdvertisementAdvertisementThursday's court filing says IAC received the loan after a "handshake deal" between Aranha and Bankman-Fried. It wasn't until August 7 that the FTX Debtors claimed ownership of the planes, the filing says. This is not the first time FTX Debtors have tried to get back assets.
Persons: FTX, SBF's, Sam Bankman, Fried's FTX, Paul Aranha, Fried, Aranha, Shaquille O'Neal, Stephen Curry, Naomi Osaka Organizations: Service, Bahamian, Court, Bombardier Global, Embraer, Island Air, IAC, Trans Island Airways, FTX Ventures, Trans, Airways, TIA, Bombardier, Global, US Marshals Service, Bradley International Locations: Wall, Silicon, Delaware, Connecticut
FTX loaned $28 million to a private jet company to finance its purchase of two jets, a court filing says. One of them has been in government custody since February, while the FTX Debtors claimed ownership of the planes in August. AdvertisementAdvertisementThursday's court filing says IAC received the loan after a "handshake deal" between Aranha and Bankman-Fried. It wasn't until August 7 that the FTX Debtors claimed ownership of the planes, the filing says. This is not the first time FTX Debtors have tried to get back assets.
Persons: FTX, SBF's, Sam Bankman, Fried's FTX, Paul Aranha, Fried, Aranha, Shaquille O'Neal, Stephen Curry, Naomi Osaka Organizations: Service, Bahamian, Court, Bombardier Global, Embraer, Island Air, IAC, Trans Island Airways, FTX Ventures, Trans, Airways, TIA, Bombardier, Global, US Marshals Service, Bradley International Locations: Wall, Silicon, Delaware, Connecticut
FTX lawyers are suing Sam Bankman-Fried's parents, saying they were wrongly paid millions. The lawsuit says SBF's mom encouraged him to avoid federal campaign finance disclosure rules. Lawyers handling the crypto exchange's bankruptcy case are suing Bankman-Fried's parents, Joe Bankman and Barbara Fried, accusing them of siphoning millions of dollars from company funds. The lawsuit also accuses Fried of encouraging her son to "avoid (if not violate) federal campaign finance disclosure rules." Singh and Salame have pleaded guilty to campaign finance violations.
Persons: Sam Bankman, Bankman, Joe Bankman, Barbara Fried, Fried, , Nishad Singh, Ryan Salame, Singh, Salame, Caroline, Sean Hecker, Michael Tremonte, Tremonte Organizations: Service, Lawyers, Democratic, Bankman, Forbes Locations: Wall, Silicon, Bahamas, Delaware
The lawyers want a judge to approve $229 million in fees, or $10,690 an hour, according to a Sept. 8 filing in Delaware's Court of Chancery. The legal fee and the settlement must be approved by a Delaware judge at a hearing scheduled for October. The Telsa directors have not objected to the fee request but are expected to do so, according to a court filing by the plaintiffs' lawyers. In 2012, the Delaware Supreme Court affirmed a $304 million fee in a Southern Copper shareholder lawsuit involving $2 billion of damages. The Delaware Court of Chancery judge overseeing the Tesla case, Kathaleen McCormick, has scheduled a hearing on Oct. 13 to approve the settlement and the fee.
Persons: Tesla's, James Murdoch, Larry Ellison, Bleichmar Fonti, McCarter, Ronald King, Clark Hill, George Bauer, David Paige, Paige, Kathaleen McCormick, Tom Hals, Amy Stevens, Marguerita Choy Organizations: REUTERS, Partners, Bleichmar, Shukurov, Advisors, Southern, Thomson Locations: Oslo, Norway, Victoria, WILMINGTON , Delaware, Delaware's Court, Delaware, New York, Wilmington , Delaware, Lansing , Michigan
Hunter Biden was indicted on federal gun charges in Delaware on Thursday, accused of lying about his past drug abuse and violating a gun law when he bought a handgun in 2018, before his father’s presidential campaign. The weapon was later abandoned behind a grocery store by Hallie Biden, the wife of Hunter’s late brother, Beau. What Americans believe about Hunter Biden’s businessEven if there is nothing to tie President Biden to the millions of dollars Hunter Biden and other family members made from interests in China, Ukraine and elsewhere, most Americans are not convinced. Most of those people who think the president was involved back then also think the actions were illegal. Hunter Biden also attended.
Persons: Joe Biden’s, Hunter Biden, Hallie Biden, Hunter’s, Beau, Hallie, Hunter, Read, David Weiss, Weiss, Kevin McCarthy, Biden –, McCarthy, Hillary Clinton, Biden, SSRS, , isn’t, it’s, David Ignatius, Ignatius, effusively, ” Ignatius, Kamala Harris “, Joe Biden, , Sen, Bernie Sanders, Harris, CNN’s Anderson Cooper, Nancy Pelosi, Cooper, Pelosi, ” Pelosi, CNN’s Edward, Isaac Dovere Organizations: CNN, US Department of Justice, Republicans, GOP, Fox, Washington Post, Democratic, Trump, Biden Locations: Delaware, Benghazi, Libya, China, Ukraine, America, Asia, Iowa, New Hampshire
Hunter Biden Indicted on Federal Gun Charges
  + stars: | 2023-09-14 | by ( Susan Milligan | Sept. | At P.M. | ) www.usnews.com   time to read: +4 min
Hunter Biden has been open about his struggles with cocaine addiction at the time. Under that deal, Hunter Biden pleaded guilty to two misdemeanor tax charges and agreed to enter into a "pretrial diversion program" on the gun issue. Given the new charges against Hunter Biden, it's not clear if the case will actually go to court. Republicans claim that Hunter Biden used his family name in shady business dealings, and that President Biden was somehow an active participant or beneficiary. "That's one of about a dozen crimes that Hunter Biden has committed.
Persons: Joe Biden's, Hunter Biden, Biden, Biden's, Joe Biden, Maryellen Noreika, it's, Donald Trump, Jamie Raskin, James Comer, Comer Organizations: White, Republicans, U.S, Capitol Hill Republicans, Biden, Department of Justice, Trump, Maryland Democrat, Capitol, Kentucky Republican Locations: Delaware, Maryland, New Orleans, Mississippi
Fox, which has maintained it is proud of its dishonest 2020 election coverage, still faces an even larger, $2.7 billion lawsuit from election technology company Smartmatic. That is the crux of our lawsuit, and we look forward to making our case in court.”A spokesperson for Fox Corporation declined to comment on the lawsuit. A spokesperson for the New York City Comptroller’s office said the pension funds held 857,000 shares of Fox Corporation stock valued at $28.10 million. Fox Corporation, led by Rupert and Lachlan Murdoch, has kept the current Fox News leadership team that oversaw the network’s lie-filled 2020 coverage in place. Earlier this year, Fox News settled a defamation case with a Venezuelan businessman who had filed a lawsuit against the company over its 2020 election coverage.
Persons: , Brad Lander, ” Ellen Rosenblum, , Rupert, Lachlan Murdoch, Viet Dinh, Ray Epps, Fox, Abby Grossberg Organizations: CNN, Fox Corporation, Fox News, Fox, Voting, New, Dominion, FBI Locations: York, Oregon, Delaware, New York City, Viet, Arizona, Venezuelan
WASHINGTON (AP) — First lady Jill Biden tested positive for COVID-19 Monday but is experiencing only mild symptoms, her spokeswoman said. President Joe Biden was tested for the virus following his wife's positive test, but his results were negative. White House press secretary Karine Jean-Pierre said the president would continue testing regularly and would be monitored for symptoms. Jill Biden will remain at the couple's home in Rehoboth Beach, Delaware, for the time being, communications director Elizabeth Alexander said. President Biden then spent part of the Labor Day weekend at the Delaware beach house before traveling Monday to a union event in Philadelphia and then back to the White House.
Persons: Jill Biden, Joe Biden, Karine Jean, Pierre, Elizabeth Alexander, Alexander, Biden, COVID Organizations: WASHINGTON, White, Northern Virginia Community College, Idalia, Labor Locations: Rehoboth Beach , Delaware, Florida, Delaware, Philadelphia
The mid-cap growth fund manager shared what qualities she's looking for in stocks. However, the mid-cap growth fund she's managed since 2001 is still a top-7% performer in the last 15 years, according to Morningstar. There's 'magic' to be found in mid-cap growthBut while elevated interest rates aren't kind to stocks, Scott still sees opportunities in many mid-sized companies. Within mid caps, Scott tends to tilt toward growth-focused companies, specifically those with sound business models that are profitable and have abundant cash flow. Instead of investing in so-called "bleeding edge" growth stocks, Scott said she prefers steady, reliable compounders.
Persons: Kimberly Scott, she's, we've, Scott, Morningstar, we're Organizations: Delaware Ivy, Growth, Federal, Growth Fund
An Amazon shareholder lawsuit says the company snubbed SpaceX for valuable satellite launch contracts because of Jeff Bezos' personal rivalry with Elon Musk , who has taunted his fellow billionaire's space ambitions for years. Last year, Amazon announced what it called the biggest rocket deal in the commercial space industry's history, signing launch contracts with United Launch Alliance (ULA), Arianespace, and Bezos' Blue Origin. Blue Origin has yet to provide a statement in response to CNBC's request for comment on the lawsuit. In January 2022, the suit says Bezos' team told the Amazon audit committee that two contracts had been fully negotiated with Blue Origin and ULA. "Bezos, it must be assumed, could not swallow his pride to seek his bitter rival's help to launch Amazon's satellites," the suit adds.
Persons: Jeff Bezos, Elon Musk, Bezos, , Andy Jassy, Eisenhofer, Origin's, ULA Organizations: SpaceX, Tesla, Origin, Cleveland Bakers, Teamsters Pension Fund, Amazon, Elon, United Launch, CNBC, CB, Blue, FCC, Foods Locations: Delaware, New York
REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsAug 31 (Reuters) - An Amazon (AMZN.O) shareholder has filed a lawsuit against founder Jeff Bezos and the Amazon board alleging directors failed to fully vet a decision to award launch contracts for the company's Project Kuiper satellite project to Blue Origin, Bezos's space company. Amazon's Project Kuiper is a planned network of over 3,000 satellites designed to beam broadband internet to remote regions. Cleveland Bakers and Teamsters Pension Fund, a multi-employer fund, said in its filing that the launch contracts were the second-largest capital expenditure in Amazon's history at the time. Project Kuiper will begin mass-producing the satellites later this year and beta testing with commercial customers in 2024, Amazon said earlier this year. The pension fund seeks unspecified damages and legal fees, according to a lawsuit filed on August 28 in the Delaware Court of Chancery.
Persons: Pascal, Jeff Bezos, Elon Musk, Musk's Starlink, Amazon, Chandni Shah, Abinaya, Lavanya, Kevin Krolicki Organizations: REUTERS, Amazon, Cleveland Bakers, Teamsters, Fund, Origin, SpaceX, Reuters, Teamsters Pension Fund, FCC, Thomson Locations: Lauwin, France, Delaware, Bengaluru
Adtech company Infillion is set to acquire the assets of bankrupt adtech firm MediaMath. US-based adtech company Infillion has emerged as the highest bidder for the assets of MediaMath, the high-profile adtech firm that filed for Chapter 11 bankruptcy in June, according to court filings. A sale hearing is scheduled to take place on Wednesday 8.30 a.m. Eastern Time in the Delaware bankruptcy court. London-based Genius Sports, a sports data and video-streaming company, made the second-highest bid for the MediaMath assets, according to the court filings. Infillion was formed in 2022 after Disney sold its video adtech asset TrueX to the location-focused adtech firm Gimbal in late 2020.
Persons: Infillion, couldn't, Sports didn't, MediaMath, Xandr, TrueX, Gimbal, Joe Zawadzki Organizations: MediaMath, Sports, Google, Disney, TrueX, Street, Amazon, Bank of America, Mobile, Phoenix Locations: Delaware, London
President Joe Biden met with survivors of the Maui wildfires in Lahaina on Monday. He told the audience that he could relate to them because his house caught on fire in 2004. But according to news reports at the time, the blaze was small and contained to his kitchen. Biden described how lightning struck a pond by his Delaware home, hitting a wire, and coming up underneath his home into the heating and air conditioning ducts. Last year, he also told survivors of Hurricane Ian in Florida that he "lost an awful lot of" his Delaware home in the fire, per The New York Times.
Persons: Joe Biden, Jill Biden, Jill, Biden Organizations: Service, Associated Press, New York Times, Fire Company, New York Post Locations: Maui, Lahaina, Wall, Silicon, Delaware, Lahaina —, Washington ,, Hurricane, Florida, Cranston
Delaware Basin, a part of the wider Permian Basin, is a prime target for producers looking to increase their inventory. Earlier this month, it also closed a $1.5 billion deal to buy Novo Oil & Gas Holdings. With Monday's deal, Permian Resources would have pro forma production of about 300,000 barrels of oil equivalent per day (boepd). Shares of Earthstone jumped 8.6% to $17.63 in premarket trading, while Permian Resources declined more than 3% to $12.45. After the deal closes, existing Permian Resources and Earthstone shareholders would own about 73% and 27% of the combined company, respectively.
Persons: Earthstone, Leo Mariani, Roth, Mariani, Arunima Kumar, Anil D'Silva, Shilpi Majumdar Organizations: Earthstone Energy, Oil & Gas Holdings, Resources, Thomson Locations: Delaware, . Delaware, Texas, New Mexico, Midland , Texas, Bengaluru
The ruling sent the shares of the company's preferred stock soaring 27%. The company's common stock fell 27%. Under the approved class action settlement, AMC will provide stock worth an estimated $129 million to holders of its common stock to settle potential legal claims related to a stock conversion plan. Without the proposed settlement, common stockholders and preferred shareholders would end up owning 34.28% and 65.72% of AMC, respectively. Under the proposed settlement, common stockholders and preferred shareholders would own 37.15% and 62.85%, respectively.
Persons: Brendan McDermid, Chancellor Morgan Zurn, Zurn, Tom Hals, Deepa Babington Organizations: AMC Theatre, REUTERS, AMC Entertainment Holdings, AMC, Delaware, AMC Entertainment Holdings Inc, Chancery, Thomson Locations: New York City, U.S, WILMINGTON , Delaware, Delaware, Wilmington , Delaware
The Hunter Biden case is an unexpected career turn for David C. Weiss, a tough, workmanlike prosecutor and commercial lawyer whose stubborn competitiveness earned him a reputation as a hard man to strike out in local softball leagues. Appointed by President Donald J. Trump, the low-key U.S. attorney for Delaware was held over in his job by the Biden administration to shield the Justice Department from accusations of political meddling. Mr. Weiss grew up in the Philadelphia suburbs, attending Cheltenham High School, whose graduates include Prime Minister Benjamin Netanyahu of Israel, the Hall of Fame slugger Reggie Jackson and the conservative commentator Mark Levin. After completing law school at Widener University in Wilmington, Del., he worked two long stints as a prosecutor in the Delaware U.S. attorney’s office on an array of cases. Those included an investigation of a businessman who pleaded guilty to campaign finance violations after illegally bundling contributions for President Biden’s failed 2008 bid for the White House.
Persons: Hunter Biden, David C, Weiss, Donald J, Trump, Biden, Benjamin Netanyahu, Israel, Reggie Jackson, Mark Levin, St . Louis, Biden’s Organizations: Justice, Cheltenham High School, of Fame, Washington University, Widener University, Delaware U.S, White Locations: Delaware, Philadelphia, St ., Wilmington, Del
“The appointment of Mr. Weiss reinforces for the American people the department’s commitment to both independence and accountability in particularly sensitive matters,” Mr. Garland said. Mr. Clark and the Justice Department prosecutors overseeing the case had distinctly different understandings of the immunity Hunter Biden would receive from the deal. House Republicans quickly signaled the special counsel appointment would not alleviate their criticism of the investigation into Hunter Biden. agents was that Mr. Weiss had sought to bring charges against Hunter Biden in Washington and California but was rebuffed after prosecutors in those jurisdictions declined to partner with him. House Republicans have also issued subpoenas to six banks, detailing millions that were paid to Hunter Biden and his business partners from overseas companies.
Persons: General Merrick B, Garland, Biden’s, Hunter, Justice Department’s, David C, Weiss, Hunter Biden, Biden, , Garland scoffed, Weiss —, , Mr, Jack Smith, Donald J, Trump, Robert K, Hur, Trump’s, Hunter Biden’s, Christopher Clark, ” Mr, Clark, , Russell Dye, Jim Jordan, “ Weiss, Kevin McCarthy, Biden’s D.O.J, couldn’t, Devon Archer, Archer, Chris Cameron Organizations: Justice, Internal Revenue Service, Mr, Republican, Republicans, Justice Department, House Republicans, Biden, Congress, Department, Trump Locations: Washington, U.S, Delaware, Delaware , Washington, Wilmington, Del, Ohio, Washington and California
Biotech firm Amyris files for bankruptcy in US
  + stars: | 2023-08-10 | by ( ) www.reuters.com   time to read: +1 min
Aug 9 (Reuters) - Biotech firm Amyris Inc (AMRS.O) on Wednesday said it has filed for Chapter 11 bankruptcy in a U.S. court and is planning to sell its consumer brands to improve the company's liquidity position. Amyris said it has secured a $190 million financing commitment to support day-to-day operations, adding that its entities outside the U.S. are not included in the bankruptcy proceedings. In a filing with the Delaware bankruptcy court, the company listed estimated assets in the range of $500 million to $1 billion and liabilities in the range of $1 billon to $10 billion. "Restructuring is intended to improve the Company's cost structure, capital structure, and liquidity position while streamlining Amyris' business portfolio to focus on its core competencies in R&D...," the company said. Amyris had also initiated a "strategic transformation program" in June and secured a term loan facility of up to $50 million.
Persons: Amyris, Han Kieftenbeld, John Melo, Juby Babu, Rashmi Organizations: Biotech, Amyris Inc, Thomson Locations: U.S, Delaware, Bengaluru
There is thus an inherent tension at the heart of personalized medicine. It purports to both tailor health care and drive down costs, but the more it succeeds at individualization, the higher go the prices. My parents were financially stable, and they had good health insurance that covered the expensive drug. Media reports surrounding personalized medicine often forecast a future of health care revolutionized by the arrival of medical magic bullets and biomedical breakthroughs. Still, for patients with advanced lung cancer like my dad, the chances of being alive five years after initial diagnosis are terrifyingly small.
Organizations: Media Locations: Delaware
For Biden, Trump’s third indictment is undoubtedly the most personal. The White House declined to comment on Trump’s indictment Tuesday, referring questions to the Department of Justice. The White House learned of the indictment through media reports, a White House official said, as was the case with past indictments. After Trump was indicted in June, Biden was repeatedly pressed for comment on the historic first federal indictment of a former president. Ahead of Trump’s indictment Tuesday, a Biden campaign official said the campaign once again did not intend to fundraise off a Trump indictment, determining that the risks of fundraising off the indictment – which would feed Republican attacks of a politicized prosecution – outweighed the potential benefits.
Persons: Joe Biden, Donald Trump’s, He’s, Trump, Jack Smith, , Biden, Department’s, Trump’s, , , Ian Sams, General Merrick, Garland, MSNBC’s Nicolle Wallace, Jill Biden, The Biden, ” Biden, Julie Chavez Rodriguez, they’re, Trump “, headwinds Biden Organizations: CNN, Mar, Biden, Trump, Capitol, Department of Justice, Justice Department, White, White House, aren’t, The, New York Times Locations: Maine, Freeport, Delaware, Siena, American
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter of 2023 were $2.17 billion, versus $2.36 billion a year before. That was partially offset by higher revenues from increased volumes on its natural gas liquids, natural gas and crude oil businesses, it said. Enterprise sees natural gas liquids pricing and ethane pricing as constructive in the second half of 2023. During the quarter, the company saw operational records for natural gas pipeline volumes and natural gas liquids fractionation volumes. It brought online new projects including the 400 million cubic feet per day expansion of its Haynesville Extension of the Acadian natural gas pipeline system, and its Poseidon cryogenic natural gas processing plant in the Midland Basin.
Persons: Gary McWilliams, Stephanie Kelly, Jan Harvey, Andrea Ricci Organizations: Enterprise Products Partners, REUTERS, Reuters Connect Companies Enterprise Products, Enterprise, Oil, Thomson Locations: Houston , Texas, U.S, Corpus Christi , Texas, Midland, Chambers County , Texas, Delaware, Texas
MediaMath Cofounder and CEO Joe Zawadzki is assembling a syndicate to buy back the company. MediaMath cofounder Joe Zawadzki is looking to assemble a syndicate of adtech industry investors to attempt to buy back the company's assets at its upcoming bankruptcy auction, according to people familiar with the matter. Former employees and industry observers have said Zawadzki's MediaMath was also ahead of its time developing tools to demystify how digital ad dollars were being spent. MediaMath's supply chain optimization assets could become the backbone of FxM's "SCF+" supply chain financing product, the adtech industry sources suggested. Zawadzki is also a general partner at the venture capital firm AperiamVentures, which has invested in dozens of adtech startups.
Persons: Joe Zawadzki, MediaMath, Zawadzki, Joe, Zawadzki's, , Neil Nguyen, MGI, hadn't Organizations: IBM, Bain Capital, Google, Media, Games Locations: MediaMath, Delaware, , AperiamVentures
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