CFPB dropped its lawsuit against Capital One. The Consumer...
CFPB dropped its lawsuit against Capital One. The Consumer Financial Protection Bureau, which, under the Biden administration, sued Capital One last month for allegedly cheating customers out of ~$2 billion in interest, moved to dismiss the suit yesterday with Donald Trump now in office. The agency also dropped cases against Rocket Homes Real Estate and Berkshire Hathaway-owned Vanderbilt Mortgage & Finance. The moves were largely expected after Trump’s acting CFPB director, Russell Vought, fired 200 employees and ordered all work to stop immediately. The CFPB also has pending lawsuits against Walmart, Zelle, and other companies it’s accused of wronging US consumers.
Meta apologized after an “error” caused extremely violent content to flood users’ Instagram Reels feeds.
Transgender service members will be removed from the US military unless they have never transitioned and can prove they “directly support warfighting capabilities,” according to a Pentagon memo.
Stanford froze hiring amid the Trump administration’s moves to cut funding for research at universities.
The founders of Ben & Jerry’s are reportedly looking into buying the famed ice cream brand back from Unilever, though Unilever said the business is not for sale.
Gene Hackman, the Hollywood icon and Oscar-winning star of The French Connection and Unforgiven, died at 95. His wife, Betsy Arakawa, and their dog were also found dead in the couple’s Sante Fe, New Mexico, home. Police called their deaths “suspicious” but said there were no apparent signs of foul play.
Oil prices settle higher after Trump moves to end Venezuela crude deal
Oil futures settled higher on Thursday, finding support...
Oil futures settled higher on Thursday, finding support a day after President Donald Trump said he was revoking a license issued by the Biden administration that had allowed Chevron Corp. to produce oil in Venezuela.
Prices remained lower week to date, however, with U.S. tariffs on Canada and Mexico expected to come into effect next week, potentially hurting the outlook for the economy and for energy demand.
West Texas Intermediate crude for April delivery rose $1.73, or 2.5%, to settle at $70.35 a barrel on the New York Mercantile Exchange.
April Brent crude the global benchmark, climbed $1.51, or 2.1%, to $74.04 a barrel on ICE Futures Europe. The more actively traded May contract gained $1.50, or 2.1%, to $73.57 a barrel.
March gasolinetacked on nearly 2.5% to $2 a gallon, while March heating oiladded2.2% to $2.40 a gallon.
Natural gasfor April delivery settled at $3.93 per million British thermal units, down 0.6%.
Nasdaq logs worst day in a month, S&P 500 turns negative for 2025 as stocks fall
U.S. stocks lost their grip on earlier gains to end sharply...
U.S. stocks lost their grip on earlier gains to end sharply lower Thursday, with the Nasdaq Composite posting its worst day in about a month and the S&P 500 turning negative for the year.
The market's jitters came ahead of a closely followed inflation update on Friday, and as concerns have risen over President Trump's threats of fresh trade tariffs to start next week against Canada, Mexico and China.
The Dow Jones Industrial Average shed 193.62 points, or 0.5%, ending at 43,239.50.
The S&P 500 shed 94.49 points, or 1.6%, closing at 5,861.57 and turning negative for the year.
The Nasdaq Composite plunged 2.8%, finishing at 18,544.42. That was its biggest one-day percentage decline since it tumbled 3.1% on Jan. 27, according to Dow Jones Market Data.
Investors have been nervous not only about the potential impact that tariffs could have on inflation, but also on U.S. economic growth.
LNG demand to keep growing, but new supply uncertain
Liquefied natural gas project...
Liquefied natural gas project delays make an LNG supply glut highly unlikely in the coming years, while Asian nations' rising energy needs and shift from coal will continue to drive strong demand growth over the next 10 years, according to Woodside Energy CEO and Managing Director Meg O'Neill. This view aligns with Shell's latest annual forecast, which projects a roughly 60% increase in global LNG demand by 2040 and over 187 million short tons of new supply by 2030.
Ring Energy Bolts On Lime Rock's Central Basin Assets for $100MM
Ring Energy Inc. is bolting on Lime Rock Resources IV LP’s Central...
Ring Energy Inc. is bolting on Lime Rock Resources IV LP’s Central Basin Platform assets for $100 million, the E&P announced Feb. 26.
The majority of the assets are located in Andrews County, Texas, next to Ring’s core Shafter Lake operations in the Permian Basin. The remainder exposes Ring to new active plays, the company said in the deal’s announcement.
Approximately 17,700 net acres, 100% HBP, are contiguous to Ring’s existing footprint and had a low-decline net production average of 2,300 boe/d at more than 80% oil for the third quarter of 2024 from about 101 gross wells.
