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BREAKING NEWS
Chevron, Exxon Decline to Boost Oil Production Despite Trump Admin Requests
By Guy Birchall ExxonMobil and Chevron have said they won’t boost oil production despite the Trump administration’s calls for them to do so to help address the energy shortage caused by the war with Iran. Exxon’s chief financial officer Neil Hansen told the Financial Times in an article published on May 1 that there had…
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Trump Signs Order Targeting ‘Bloated Overhead’ in Federal Contracts
By Tom Gantert President Donald Trump signed an executive order Thursday that seeks to address longstanding problems in the federal government’s contracting system, citing “unpredictable costs,” “bloated overhead,” and weak performance incentives that have driven up spending and reduced accountability. In a new policy directive, officials said the current model has too often failed to…
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Top US General Signals Russia Is Helping Iran in War
By Jack Phillips The highest-ranking U.S. general on Thursday signaled that the Russian government is assisting the Iranian regime in its war with the United States. In comments before Senate Armed Services Committee, Gen. Dan Caine, the head of the Joint Chiefs of Staff, responded in an affirmative manner to a question from the panel’s…
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FCC Orders Early Review of Disney’s ABC Station Licenses
By Jill McLaughlin The Federal Communications Commission (FCC) has ordered an early review of license renewals for Disney’s ABC television stations. The April 28 order is part of the FCC’s ongoing investigation into whether the company and its television stations are following the federal Communications Act of 1934 and the FCC’s rules, including a prohibition…
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Iran War Pushes Gulf Allies to Request Dollar Help—What to Know
By Andrew Moran Treasury Secretary Scott Bessent confirmed last week that several U.S. allies in the Gulf region and Asia have requested currency swap lines with the United States. The war in Iran—now in its ninth week—has adversely affected economies, from energy shocks to currency volatility, prompting foreign exchange swaps to address dollar liquidity challenges.…
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United Arab Emirates to Leave OPEC Next Month
By Andrew Moran The United Arab Emirates said it is leaving OPEC and the broader alliance. “This decision follows a comprehensive review of the UAE’s production policy and its current and future capacity and is based on our national interest and our commitment to contributing effectively to meeting the market’s pressing needs,” the UAE energy…
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DC Shooting Suspect Charged With Attempting to Assassinate Trump
By Stacy Robinson and Jackson Richman WASHINGTON—The Department of Justice has charged Cole Allen, the suspect in the White House Correspondents’ Dinner shooting, with the attempted assassination of President Donald Trump. During a brief court appearance on April 27, Allen was also charged with transporting a firearm across state lines with intent to commit a…
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Shell to Buy ARC Resources in $16.4 Billion Deal to Expand Canada Output
By Bill Pan Shell is set to buy ARC Resources in a move that would expand the British oil major’s production in western Canada. The two companies announced on April 27 that the transaction, which includes assumed net debt and leases, is valued at C$22 billion, or about US$16.4 billion. The acquisition integrates ARC’s assets…
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US Homebuilders Lean on Incentives to Unload Homes in Challenging Market
By Panos Mourdoukoutas Homebuilder earnings reports released in recent days point to a challenging environment for the industry, as companies increasingly rely on incentives and mortgage rate buydowns to reduce elevated inventories during a sluggish spring selling season. Executives’ commentary has underscored the pressures facing the sector. D.R. Horton’s April 21 conference call, following its…
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Trump Says First Lady Unharmed, ‘Doing Great’ After White House Correspondents’ Dinner Shooting
By Jack Phillips President Donald Trump on Sunday morning said that First Lady Melania Trump is doing “doing great” and that he is “fine” after a shooting at the White House Correspondents’ Dinner in Washington on Saturday evening. During an interview with Fox News, the president was asked about his wife, who was seen sitting…
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