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.
Chevron shifts from growth to cash generation in the Permian
Chevron is nearing its production target of 1 million barrels of oil...
Chevron is nearing its production target of 1 million barrels of oil equivalent per day in the Permian Basin and plans to maintain that level through 2040. The company is scaling back rigs and frack crews and expects to grow its annual free cash flow from the region to $5 billion by 2027, assuming $60 Brent crude, which will support shareholder returns.
UConn team extracts cleaner lithium from geothermal brine
University of Connecticut researchers are developing more sustainable...
University of Connecticut researchers are developing more sustainable methods to extract lithium from geothermal brine to support a domestic supply chain for electric vehicle batteries. Their process combines carbon capture, on-site recycling of precipitating agents and digital simulations to cut CO2 emissions by 50% and lower production costs. "Without environmentally sustainable, affordable solutions, we are reaching a tipping point where demand will far outweigh lithium supply availability," said lead researcher Burcu Beykal.
