Venture Global has cut the price range for the 70 million shares it plans to market in an initial public offering by over 40% to between $23 and $27 each, lowering its potential valuation from $110 billion to about $65 billion at the top of the revised range. The sharp adjustment underscores challenges in reviving energy IPO activity, which hit a 21-year low in 2024.
Kinder Morgan eyes 2027 launch for $1.7B Texas gas line
Kinder Morgan has announced a final investment decision to proceed with...
Kinder Morgan has announced a final investment decision to proceed with the 216-mile, $1.7 billion Trident Intrastate natural gas pipeline, designed to deliver 1.5 Bcf/d from Katy, Texas, to the Port Arthur area. The pipeline is expected to become operational in the first quarter of 2027, pending permits and approvals.
Trump says he will “demand” lower interest rates immediately
In a virtual address to the World Economic Forum in Davos yesterday,...
In a virtual address to the World Economic Forum in Davos yesterday, President Trump demanded that the US drop interest rates and that the rest of the world follow suit. US rates, of course, are controlled by the politically independent Federal Reserve, which makes policy decisions based on market forces, without the White House’s input. But Trump has long sought to test the boundaries of that system, setting up a clash with Fed Chair Jerome Powell. Trump also called on Saudi Arabia to lower the price of oil.
CNN cuts 6% of staff as part of big overhaul. The cuts,...
CNN cuts 6% of staff as part of big overhaul. The cuts, which amount to ~200 employees, are the first step in a drastic shift toward digital growth. In a memo to staff, CNN CEO Mark Thompson said the company will launch a new streaming service and announce new job openings with the help of an investment from its parent company, Warner Bros. Discovery. The overhaul includes a shake-up of its TV lineup, with anchors Jake Tapper and Wolf Blitzer getting new time slots. Virtually every news network is facing declines in viewership and revenues as audiences flock from their television sets to the internet.
Trump’s executive order ending birthright citizenship was temporarily blocked by a federal judge in Seattle, who said it “boggled” his mind that any lawyer would claim it’s constitutional.
Thailand became the first Southeast Asian country to legally recognize same-sex marriages.
Dozens of subreddits have banned links to X after its owner and chairman, Elon Musk, performed a gesture that looked like a Nazi salute at Trump’s inauguration this week.
ChatGPT briefly went down for thousands of users yesterday, preventing college students everywhere from turning in their essays on time.
S&P 500 seals record close as Trump demands lower oil prices and interest rates
Stocks ended mostly higher Thursday, with the S&P...
Stocks ended mostly higher Thursday, with the S&P 500 notching its first record finish since Dec. 6 — and its first of President Donald Trump's second term.
It didn't take much, after the large-cap benchmark ended just shy of a record in Wednesday's session. Stocks got a modest lift after Trump — speaking remotely in Davos, Switzerland, to powerful political and business leaders attending the World Economic Forum's annual meeting — called on OPEC to lower oil prices and made a demand for lower interest rates in the U.S. and around the world.
The Federal Reserve and other central banks aren't likely to hop to such a demand, while experts said it's possible Trump's remarks could help give OPEC an excuse to boost production. Perhaps more important to the market reaction, analysts said, is that Trump didn't significantly ramp up tariff threats, which may have provided some modest relief.
In the end, the S&P 500added 32.34 points, finished the day up 0.5%, and closing at 6,118.71, according to FactSet data, surpassing its previous record finish of 6,090.27.
The Dow Jones Industrial Average rose 408.34 points, or 0.9%, ending at 44,565.07. That left it only 1% off its previous record close in early December, according to Dow Jones Market Data.
The Nasdaq Composite gained 44.34 points, or 0.2%, closing at 20,053.68, which was 0.6% away from its record close on Dec. 16.
