US government mulls 10% stake in Intel as Softbank invests $2b. Negotiations...
US government mulls 10% stake in Intel as Softbank invests $2b. Negotiations are ongoing, but Bloomberg and the Wall Street Journal reported yesterday that the government is considering becoming one of the beleaguered chipmaker’s biggest shareholders by converting grants the company was given under the Biden-era Chips Act into an equity stake. At Intel’s current valuation, a 10% stake would be worth ~$10.5 billion—though the exact size of the stake and whether the government will move forward with the plan remains to be determined. Meanwhile, over in the private sector, Softbank agreed to buy $2 billion worth of Intel stock, giving it a ~2% stake. Intel has been trying to turn itself around after losing ground to other semiconductor companies.
President Trump said he’d sign an order to block mail-in voting ahead of the 2026 midterm elections.
Hamas has agreed to a ceasefire proposal put forward by mediators in Egypt and Qatar. However, as of yesterday, it was unclear whether Israel, which is preparing to occupy Gaza City, would also agree.
Hurricane Erin gained strength yesterday, and while it’s not expected to make landfall in the US, it’s likely to produce life-threatening rip currents and possible flooding along the East Coast. Islands in North Carolina’s Outer Banks have been ordered to evacuate.
Newsmax will pay $67 million to settle a defamation suit from Dominion over its airing of false claims that the company’s voting machines were used to manipulate the 2020 presidential election.
Novo Nordisk’s obesity drug Wegovy received accelerated FDA approval to treat a serious liver disease, making it the first GLP-1 to do so.
The woman accused of selling Friends star Matthew Perry the ketamine that killed him has agreed to plead guilty to five federal criminal charges.
Oil prices settle higher as investors focus on Trump-Zelenskiy meeting
(Reuters) - Oil prices settled 1% higher on Monday after...
(Reuters) - Oil prices settled 1% higher on Monday after talks between U.S. President Donald Trump and his Ukrainian counterpart in the wake of an inconclusive U.S.-Russia summit in Alaska on Friday.
Brent crude futures settled up 75 cents, or 1.14%, at $66.60 a barrel. U.S. West Texas Intermediate crude gained about 62 cents, or 0.99%, to $63.42.
Last week, Brent eased by 1.1% while WTI dropped 1.7%.
Speaking to reporters in the Oval Office with Zelenskiy seated beside him, Trump expressed hope that Monday's summit could eventually lead to a trilateral meeting with Russian President Vladimir Putin, adding that he believes Putin wants the war to end.
U.S. stocks end mostly flat as investors watch Ukraine talks, await Powell’s Jackson Hole speech
U.S. stocks ended mostly flat on Monday as investors...
U.S. stocks ended mostly flat on Monday as investors followed the meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky and awaited Federal Reserve Chair Jerome Powell's Friday speech at the annual monetary-policy symposium in Jackson Hole, Wyo.
Trump said he planned to phone Russian President Vladimir Putin following the meetings on Monday.
The Dow Jones Industrial Average fell 34.30 points, or 0.08%, to end at 44911.82, according to the Dow Jones Market Data.
The S&P 500 edged down 0.65 point, or 0.01%, to finish at 6,449.15.
The Nasdaq Composite added 6.80 points, or 0.03%, to end at 21,629.77
Devon Enters Agreement to Supply Centrica with NatGas for LNG
U.K. energy and services company Centrica Energy entered into a natural...
U.K. energy and services company Centrica Energy entered into a natural gas sale and purchase agreement with U.S.-Oklahoma City-based Devon Energy, the firm said Aug. 15.
Under the agreement, Devon will supply 50,000 MMBtu/d of natural gas over a 10‑year term starting in 2028—equivalent to five LNG cargoes per year.
The volumes will be indexed to the European gas hub price (TTF), Centrica said. The physical volumes of this deal in the U.S. will be handled and optimized by Centrica Energy’s U.S. subsidiary, which recently announced the opening of an office in New York.
Hurricane Erin thrashes Caribbean on its way north
Erin, the first hurricane of the 2025 season, knocked out power to nearly...
Erin, the first hurricane of the 2025 season, knocked out power to nearly 155,000 utility customers as a Category 3 storm with maximum sustained winds of 125 mph. Erin has undergone dramatic fluctuations in intensity: A Category 5 on Saturday, the hurricane weakened on Sunday but is expected to regain strength on Monday and Tuesday when it turns north to pass between the US and Bermuda. The East Coast is expected to experience dangerous rip currents and surf during the week.
