Your alma mater’s campus celebrities might soon swap Gatorade showers...
Your alma mater’s campus celebrities might soon swap Gatorade showers for Veuve Clicquot baths. This week, in a landmark first, the NCAA and the five richest athletic conferences in the country agreed to a nearly $2.8 billion settlement that capitulates to student athletes’ long-standing demands for a cut of the money they rake in for universities.
This is a huge shakeup. For 118 years, the NCAA adhered to its founding principle that college athletes are amateurs, not professionals, and therefore shouldn’t be paid for playing.
Families of the Uvalde school shooting victims have filed a lawsuit against the manufacturer of the AR-15 rifle used in the shooting, Meta, and the makers of Call of Duty, claiming they worked together to market the weapon to minors.
Benchmark U.S. crude oil for July delivery rose 85 centsto $77.72 per barrel Friday. Brent crude for July delivery rose 76 cents to $82.12 per barrel.
Wholesale gasoline for June delivery rose 1 cent to $2.48 a gallon. June heating oilwas unchanged at $2.41 a gallon. June natural gasfell 14 centsto $2.52 per 1,000 cubic feet.
Nasdaq leads U.S. stocks higher Friday, though Dow snaps 5-week win streak
U.S. stocks ended higher Friday, but the S&P 500’s rise only left...
U.S. stocks ended higher Friday, but the S&P 500’s rise only left the index flat for the week.
The S&P 500 closed 0.7% higher Friday, while the Nasdaq Composite climbed a sharp 1.1% and the Dow Jones Industrial Average finished little changed, preliminary data from FactSet show.
For the week, the Dow fell 2.3% to snap five straight weeks of gains while the S&P 500 eked out a less than 0.1% rise, according to the preliminary data. The technology-heavy Nasdaq booked a weekly gain of 1.4%.
Despite a dip in first-quarter profits, major US refiners, including...
Despite a dip in first-quarter profits, major US refiners, including Marathon Petroleum, Phillips 66 and Valero Energy, returned a combined $5.5 billion to shareholders through stock buybacks and dividends, highlighting a strategic focus on capital returns. The Energy Information Administration forecasts higher refinery runs in the third quarter, driven by a positive demand outlook.
Golden Pass LNG contractor files for bankruptcy protection
Zachry Holdings, the lead contractor for QatarEnergy and ExxonMobil's...
Zachry Holdings, the lead contractor for QatarEnergy and ExxonMobil's Golden Pass LNG export facility in Texas, has filed for Chapter 11 bankruptcy protection, blaming cost challenges and unresolved negotiations for insolvency. Despite this setback, Exxon remains committed to completing the project and is working with other stakeholders to ensure a smooth transition and minimal disruption, a spokesperson said.