Merger would create a new transcontinental US railroad
A single megarailway might soon connect the land of Wawa to In-N-Out...
A single megarailway might soon connect the land of Wawa to In-N-Out country. The biggest freight railroad in the country, Union Pacific, and fellow rail giant Norfolk Southernconfirmed reports yesterday that they are in advanced talks to form America’s first ocean-to-ocean railway.
Union Pacific says that merging into a $200 billion behemoth would make shipping goods between the Eastern and Western US more efficient, as they wouldn’t have to be transferred between tracks run by different companies.
However, a deal would likely face regulatory hurdles as well as potential opposition from labor unions and companies that ship their goods by rail, who are concerned that it would diminish competition and increase freight prices.
Hulk Hogan died at 71. The Hall of Fame wrestler ...
Hulk Hogan died at 71. The Hall of Fame wrestler died of cardiac arrest yesterday about two months after undergoing spinal fusion surgery. Considered the greatest professional wrestler of all time, Hogan, whose real name was Terry Bollea, signed with the WWE (then the WWF) in 1983, going on to win six championships. He also had a prolific acting career, playing the role of “Thunderlips” in Rocky III and appearing as himself in countless films and TV shows. In 2015, he was briefly dropped by WWE following reports that he had used racial slurs in a leaked sex tape. A year later, he was awarded $115 million after suing Gawker Media, which had published a snippet of the leaked tape, for invasion of privacy. Hogan also spoke at the 2024 Republican National Convention, where he endorsed President Trump before ripping his shirt off.
The US and Israel recalled their teams from Gaza ceasefire talks, accusing Hamas of not negotiating in good faith. In a joint statement, several human rights groups warned of “mass starvation” across the territory due to Israel’s restrictions on aid.
The FCC formally approved Skydance’s $8 billion merger with Paramount, putting David Ellison in charge of CBS, Paramount Pictures, and other media properties.
Thailand allegedly launched airstrikes on Cambodian military targets as tensions escalate over a longstanding border dispute.
Lyft announced it will allow users to block specific drivers or “favorite” them to increase the chances of getting matched for a ride.
Israel and the U.S. Withdraw From Cease-Fire Talks With Hamas
The Israeli government and President...
The Israeli government and President Trump’s Middle East envoy said on Thursday that they were recalling the teams that had been negotiating on a Gaza cease-fire with Hamas, ending for now the hope for the return of some of the last surviving hostages from the terrorist attack on Israel nearly two years ago.
Steve Witkoff, the president’s special envoy, said in a statement that the latest response to an offer of a deal from Hamas’s surviving leadership showed “a lack of desire to reach a cease-fire in Gaza.” He added that “we will now consider alternative options to bring the hostages home and try to create a more stable environment for the people of Gaza,” without specifying what those alternatives might include.
Crude finishes with 1% gain on supply concerns and US crude draws
(Reuters) - Oil prices rose 1% on Thursday as U.S. crude...
(Reuters) - Oil prices rose 1% on Thursday as U.S. crude draws and expected cuts to Russian gasoline exports overwhelmed news that oil major Chevron (CVX.N) will gain U.S. approval to renew production in Venezuela.
Brent crude futures settled at $69.18 a barrel, up 67 cents or 0.98%. U.S. West Texas Intermediate crude futures finished at $66.03 a barrel, up 78 cents, or 1.20%.
Crude fell in early afternoon trade on news that U.S. President Donald Trump's administration was preparing to allow limited oil operations in sanctioned OPEC nation Venezuela.
Earlier in the session, WTI had been up more than a dollar and Brent crude came near that level.
"The news about Chevron being able to go back into Venezuela and get oil going again just took the knees out of the market," said John Kilduff, partner at Again Capital LLC.
Even so, Kilduff said the market did not expect the Trump administration would open up Venezuela to other U.S. oil companies.
White House AI plan pushes grid upgrades, permitting fixes
A newly released White House AI action plan recommends 90 policy actions...
A newly released White House AI action plan recommends 90 policy actions to accelerate data center buildout, streamline permitting and strengthen the US power grid to meet surging electricity demand from AI-driven operations. Federal agencies are directed to review and repeal regulations that may hinder AI progress, prioritize infrastructure siting on federal land and accelerate deployment of dispatchable power sources such as advanced geothermal, nuclear fission and fusion. "The United States must explore solutions like advanced grid management technologies and upgrades to power lines that can increase the amount of electricity transmitted along existing routes," the plan states.
