Calif. bill would streamline oil well permitting until 2036
A new legislative proposal in California would tie abandoned well plugging...
A new legislative proposal in California would tie abandoned well plugging to new well drilling at a two-to-one ratio until 2036 and conditionally remove requirements for Geologic Energy Management approval of new wells. The measure marks a shift in Gov. Gavin Newsom's attitude toward the oil industry as the state grapples with refinery closures and fuel supply concerns.
U.S. stocks open slightly higher as investors await tech earnings
U.S. stocks kicked off trade Monday with modest gains...
U.S. stocks kicked off trade Monday with modest gains ahead of earnings from crucial tech players later this week as traders also kept an eye on tensions between the White House and the Federal Reserve and continued to monitor trade negotiations.
"Big banks kicked off earnings season on a mostly positive note last week, but tech and AI enthusiasm played a bigger role in helping some of the major indexes tag more record highs," said Chris Larkin, managing director for trading and investing at E-Trade from Morgan Stanley, in a note. The Nasdaq ended Friday at a record, while the S&P 500 notched a record finish on Thursday.
Scott Sheffield Bashes Exxon Mobil After FTC Clears Him
The Federal Trade Commission (FTC) revoked a 2024 decision prohibiting...
The Federal Trade Commission (FTC) revoked a 2024 decision prohibiting former Pioneer Natural Resources CEO Scott Sheffield from holding an Exxon Mobil position.
But after winning the clearance, Sheffield said that “as for the possibility of joining Exxon’s board now, because of actions they have taken in this matter, I am no longer interested.
“Exxon signed a rushed, baseless and illegal order barring me and other Pioneer employees from taking an Exxon board seat. In doing so, they effectively broke the commitment they made to me in their merger agreement with Pioneer, the company I founded and led for over 40 years.”
Sheffield led Pioneer’s merger with Exxon Mobil in 2024 in a $64.5 billion stock and debt assumption deal.
An eerie calm has descended on Wall Street this summer, with investors...
An eerie calm has descended on Wall Street this summer, with investors focusing more on the US economy’s steady growth and strong corporate profits rather than Trump’s threats of tariffs or firing Jerome Powell. The S&P 500, which ticked 0.6% higher last week, has gone 17 days without a 1 percentage-point move in either direction, per Bloomberg.
It’s an earnings report bonanza: More than 20% of...
It’s an earnings report bonanza: More than 20% of the S&P 500 reports Q2 earnings this week, led by Magnificent Seven heavyweights Alphabet and Tesla on Wednesday. So do Domino’s (today) and Chipotle (Wednesday), along with defense companies, including RTX and Lockheed Martin on Tuesday, and General Dynamics on Wednesday. Plus, investors will be watching on Tuesday to see whether Coca-Cola is actually switching from corn syrup to cane sugar for its US products.
Texas officials revised the number of people missing from the Kerr County flooding down to three from 97 on Saturday.
A Delta regional flight operated by SkyWest had to make a “go-around” maneuver to avoid being hit by a B-52 bomber over North Dakota.
The Washington Commanders may not get a new stadium if the NFL team does not restore its old name, according to President Trump, who said he is considering blocking the deal.
In-N-Out’s billionaire owner said she is leaving California and moving the company’s headquarters to Tennessee.
“Papa Jake” Larson, a D-Day veteran who became a beloved TikTok figure, died at 102.
