Following what he described as a “lengthy” and “very productive”...
Following what he described as a “lengthy” and “very productive” phone call with Vladimir Putin, President Trump said he plans to meet with the Russian leader soon in Budapest to discuss ending the war in Ukraine. The phone call came ahead of today’s meeting between Trump and Ukrainian President Volodymyr Zelensky at the White House, where the two are expected to discuss sending long-range Tomahawk missiles to Ukraine. The missiles would allow Ukraine to reach much farther into Russia, including to Moscow, which experts say could force Putin to negotiate. Trump said Putin “didn’t like that idea” when he brought it up during their phone call.
Nestlé is cutting 16,000 jobs as part of a turnaround effort....
Nestlé is cutting 16,000 jobs as part of a turnaround effort. The biggest food company in the world is slashing the roles to “simplify our organization” and “automate our processes,” CEO Philipp Navratil wrote in a LinkedIn post. The maker of everything from Kit Kat candy bars to Nespresso coffee pods, Nestlé has faced investor pressure over falling demand in China and internal drama, including the ouster of its previous CEO, Laurent Freixe, over an undisclosed romantic relationship with an employee. Nestle’s stock spiked more than 9% yesterday following the news of the layoffs.
John Bolton, President Trump’s former national security advisor who later became one of his critics, was indicted by the Justice Department yesterday over his handling of classified documents.
The US Chamber of Commerce is suing the Trump administration over its $100,000 fees for H-1B visas, becoming one of the few business groups to challenge the White House in court.
ICE agents in Chicago are required to wear body cameras, a federal judge ordered yesterday.
FIFA said it has sold more than 1 million tickets to the 2026 World Cup in North America.
Electronic Arts sold more than 7 million copies of Battlefield 6 in the first three days of release—the most ever for the first-person shooter franchise.
MrBeast, the YouTube kingpin best known for large-scale stunts like stranding his friends at sea for a week, is expanding into financial services, Business Insider reported.
Crude oil inventories in the United States increased by 3.5 million barrels...
Crude oil inventories in the United States increased by 3.5 million barrels during the week ending October 10, after gaining 3.7 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Thursday. The increase brings commercial stockpiles to 423.8 million barrels according to government data, which is still 4% below the five-year average for this time of year.
For total motor gasoline, the EIA reported that inventories had contracted by 300,000 barrels, after the week prior’s 1.6-million-barrel decrease. The most recent figures showed average daily gasoline production decreasing to 9.4 million barrels. For middle distillates, inventories decreased by 4.5 million barrels, with production decreasing by 577,000 barrels daily to an average of 4.6 million barrels daily. Distillate inventories had increased 600,000 barrels in the week prior and are now 7% below the five-year average for this time of year.
Oil drops 1%, settles at 5-month lows as Trump-Putin summit looms
(Reuters) - Oil prices fell more than 1% on Thursday after U.S. President...
(Reuters) - Oil prices fell more than 1% on Thursday after U.S. President Donald Trump said he and Russian President Vladimir Putin agreed to meet in Hungary soon to discuss ending the war in Ukraine, casting uncertainty over global energy supplies.
Brent crude futures settled down 85 cents, or 1.37%, at $61.06 a barrel. U.S. West Texas Intermediate futures closed down 81 cents, or 1.39%, at $57.46. Those were the lowest settlements for both benchmarks since May 5.
Trump said he and Putin agreed on Thursday to meet in Budapest soon to discuss ending the war in Ukraine, one day before the U.S. president was due to speak with Ukrainian leader Volodymyr Zelenskiy. The summit's date was not provided.
"The geopolitical tension between Russia, the United States and Ukraine is beginning to redevelop," said Tim Snyder, chief economist at Matador Economics, pushing some market participants to unwind their positions.
Exxon awaits market recovery for Baytown H2 project FID
ExxonMobil CEO Darren Woods has indicated that a final investment decision...
ExxonMobil CEO Darren Woods has indicated that a final investment decision on the company's Baytown blue hydrogen and ammonia project is unlikely this year because the market for low-carbon products remains too weak and customers are not yet willing to pay a premium. He added that recent changes that shorten hydrogen tax-credit eligibility undermine the development of a low-carbon hydrogen ecosystem. At the same time, Woods expressed optimism about US tight oil production, pointing to technological advances that could boost shale recovery rates.
