KFC is leaving its old Kentucky home. We don’t expect the colonel to trade his string tie for a cowboy hat, but the chicken chain formerly known as Kentucky Fried Chicken is moving its corporate headquarters from Louisville, KY, to Plano, TX, its parent company Yum Brands said. About 100 KFC employees will be relocated to the new office, according to Yum Brands, which also owns Pizza Hut, Taco Bell, and Habit Burger and Grill. The parent company said it was part of a larger shift to two corporate hubs in Plano and in Irvine, California. The company’s charitable group, the KFC Foundation, will continue to be based in Louisville.
At least two people were killed when two small planes collided over Arizona.
Mira Murati, the former CTO of OpenAI, has unveiled her own AI-focused startup and hired 20 researchers from her old company to come on board.
President Donald Trump signed an executive order bringing independent government agencies that regulate businesses under the White House’s power.
Trump’s media company, which owns Truth Social, sued a Brazilian Supreme Court justice, claiming he censored right-wing speech on social media.
A federal judge grilled the DOJ over its move to dismiss corruption charges against NYC Mayor Eric Adams and declined to rule right away.
Oil holds near one-week high on supply concerns, sanctions on Russia eyed
(Reuters) - Oil prices held near a one-week high on Wednesday on worries...
(Reuters) - Oil prices held near a one-week high on Wednesday on worries about supply disruptions in Russia and the U.S., while the market awaited clarity on sanctions as Washington tries to broker a deal to end the war in Ukraine.
Brent futures rose 20 cents, or 0.3%, to settle at $76.04 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 40 cents, or 0.6%, to settle at $72.25.
That was the highest close for both crude benchmarks since February 11.
"The market is trying to make up its mind on three bullish drivers: Russia, Iran and OPEC," said BNP Paribas commodities strategist Aldo Spanjer. "People are trying to figure out the impact of announced and actual sanctions."
Drone attacks on Russian oil infrastructure are reducing supplies.
S&P 500 scores 3rd record close of 2025, Dow and Nasdaq also end higher
U.S. stocks finished higher on Wednesday, with the S&P...
U.S. stocks finished higher on Wednesday, with the S&P 500 reaching its third record close of the year, after minutes of the Federal Reserve's last meeting suggested officials still remain biased toward easing.
Meanwhile, 2- and 10-year Treasury yieldsslipped for the third time in the past four sessions after the Fed's January meeting minutes were released.
The Dow Jones Industrial Average finished up by 71.25 points, or almost 0.2%, at 44,627.59, based on preliminary data. It ended higher for the fifth time in the past seven sessions.
The S&P 500 closed higher by 14.57 points, or 0.2%, at 6,144.15 — surpassing Tuesday's previous record high of 6,129.58.
The Nasdaq Composite ended higher by 14.99 points, or less than 0.1%, at 20,056.25.
Devon Energy Reports Strong Q4 2024 Earnings, Sets Up for a Promising 2025
Devon Energy (NYSE: DVN) delivered a solid performance in Q4 2024,...
Devon Energy (NYSE: DVN) delivered a solid performance in Q4 2024, capping off a year of record production and strong financial results. The company reported impressive oil and total volume growth, generated substantial free cash flow, and executed strategic acquisitions to strengthen its portfolio. Looking ahead, Devon has outlined an ambitious 2025 strategy that prioritizes capital efficiency, operational improvements, and shareholder returns.
Q4 2024 Performance Highlights
Devon continued to execute its operating plan effectively, achieving record oil production of 398,000 barrels per day, surpassing its guidance. The company generated $738 million in free cash flow, reinforcing its commitment to disciplined capital allocation. Shareholder returns remained a priority, with $444 million in cash distributed during the quarter through dividends and share repurchases.
Operationally, Devon maintained efficient capital spending, spending $872 million—3% below its guidance. The successful integration of the Grayson Mill acquisition in the Rockies has also exceeded expectations, contributing to production growth and operational synergies.
Strategic Moves and Future Growth
One of the key developments in Q4 was Devon’s decision to dissolve its Eagle Ford partnership with BPX, securing operatorship of 46,000 net acres in the Blackhawk field. This move grants the company greater development flexibility and is expected to result in significant drilling and completion (D&C) savings, enhancing the asset’s net present value (NPV) and overall returns.
For 2025, Devon projects production growth of 10% year-over-year, with total volumes expected to range between 805,000 and 825,000 barrels of oil equivalent per day (BOE/d). The company anticipates generating $3.0 billion in free cash flow at $70 WTI, while total capital expenditures are expected to be between $3.8 billion and $4.0 billion, slightly lower than previous guidance.
Key asset focus areas for 2025 include:
Delaware Basin: This core asset will receive over 50% of Devon’s capital allocation, with an emphasis on balancing internal rate of return (IRR) and NPV while optimizing inventory.
Rockies – Grayson Mill: Continued integration will drive cost synergies and operational efficiencies.
Eagle Ford: Operatorship is expected to reduce well costs and improve returns.
Anadarko Basin: The company extended its 49-well joint venture with Dow, with the first well expected to be drilled in Q2 2025.
Senior officials from both countries, including US Secretary of State...
Senior officials from both countries, including US Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov, met in Saudi Arabia yesterday for the first high-level talks in years to discuss the war in Ukraine. Notably absent were any Ukrainian officials—namely, President Volodymyr Zelensky, who postponed a different trip to Saudi Arabia to protest being left in the cold. The US’ allies in Europe and experts around the world have expressed concern that the talks are likely to end on favorable terms for Vladimir Putin and Russia. In addition to negotiating how to end the war, the officials also reportedly discussed the potential to rekindle business ties between the two countries, which were largely severed following Russia’s invasion of Ukraine in 2022.
