Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation’s offshore oil assets in the South American nation of Guyana, Exxon CEO Darren Woods told CNBC’s Becky Quick on Friday.The ruling by the International Chamber of Commerce in favor of Chevron clears a path for the oil major to complete its $53 billion acquisition of Hess Corporation.Chevron shares jumped about 3% in premarket trading.This is a developing story. Please check back for updates. Source link
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Bristol Myers Squibb and Pfizer on Thursday said they will start selling their blockbuster blood thinner, Eliquis, directly to patients at a more than 40% discount.The move comes as the Trump administration ramps up pressure on the pharmaceutical industry to cut drug prices, and threatens to impose sweeping tariffs on pharmaceuticals imported into the U.S. The companies’ new effort would bypass traditional middlemen, including pharmacy benefit managers and insurers, to cut the drug’s monthly cost from a list price of around $606 to $346. Starting Sept. 8, uninsured, underinsured and self-pay patients will be able to purchase the medicine directly from…
U.S. President Donald Trump speaks to the media as he departs the White House on July 15, 2025 in Washington, DC. Anna Moneymaker | Getty ImagesThe U.S. has doubled down on its plan to impose 30% tariffs on the European Union next month, seeking to ramp up pressure on the bloc to reach a deal.With less than two weeks to go until U.S. President Donald Trump’s Aug. 1 deadline, the EU continues to negotiate with U.S. trade officials, while drawing up a series of possible countermeasures if a deal is not forthcoming.For its part, the U.S. said the EU continues…
Bitcoin had an eventful week. The cryptocurrency surged past the $120,000 threshold for the very first time on Monday as crypto investors anticipated U.S. legislation that could could boost institutional demand. Bitcoin rose over 3% to a record high of $123,153.22 on Monday , but has since lost some steam. It was seen up 1.08% at $119,833.56 at 3:45 a.m. ET on Friday, according to CoinMarketCap . The pullback in prices came after cryptocurrency-related bills were blocked in the U.S. House of Representatives on Tuesday, with 13 Republicans voting with Democrats to block the motion in a 196-223 vote. Bitcoin…
Earnings season has kicked off in Europe , and the impact of U.S. tariffs are beginning to show up in the hard numbers. That has now made analyst consensus — which just last week predicted a mild 0.2% dip in profits for companies on the Stoxx Europe 600 index — forecast a 0.7% year-over-year decline, according to LSEG data. The gloomier forecast comes as a growing number of European industrial and consumer giants report that tariffs are hitting sales, raising costs, and cooling the investment environment. Manufacturing The auto industry is on the front lines of the trade conflict. Jaguar Land…
Aerial view of a ship at sea.Suriyapong Thongsawang | Moment | Getty ImagesThe European Union has reached an agreement on a new sanctions package against Russia, which includes a lower price cap for Moscow’s crude oil barrels.Within a year of Russia’s 2022 invasion of Ukraine, the G7 and EU restricted the price at which non-G7 countries could continue purchasing Moscow’s crude and oil products while using shipping and logistical services from G7 companies.The measures aimed to limit Russia’s oil revenues — the backbone of its economy and war coffers — while retaining the country’s supplies in the market to avoid…
The British government is set to give 1.5 million 16 and 17-year-olds the vote, unlocking a new voter base for competing political parties. Social media could be key to their success.The government on Thursday said that it plans to bring forward an elections bill which will grant 16 and 17-year-olds the right to vote in all U.K. elections.It marks the biggest change to Britain’s electorate since the voting age was reduced from 21 in 1969.If approved by parliament, it would be a major overhaul of the country’s democratic system. The proposal, which was included in last year’s Labour manifesto, will…
The New York Stock Exchange on April 8, 2025.Angela Weiss | Afp | Getty Images Despite the noise around tariffs and inflation fears, the U.S. economy seems to be holding its ground — for now. June retail sales came in stronger than expected, and weekly jobless claims dropped below forecasts.Add to that a solid start to earnings season, and you’ve got a recipe for record highs: both the S&P 500 and Nasdaq notched fresh peaks.So, is the economy truly resilient in the face of the Trump administration’s shifting trade winds? Or are we simply in the eye of the storm, with August 1 — the…
Former Federal Reserve Governor Kevin Warsh, reportedly on President Donald Trump’s short list to lead the institution, called Thursday for sweeping changes on how the central bank conducts business and suggested a policy alliance with the Treasury Department.”We need regime change in the conduct of policy,” Warsh said during an interview on CNBC’s “Squawk Box.” “The credibility deficit lies with the incumbents that are at the Fed, in my view.”Principal among those holdover officials is Chair Jerome Powell, who repeatedly has incurred Trump’s wrath and is certain not to be reappointed when his term expires in May 2026, if attempts…
A Swedish Air Force Saab JAS 39 Gripen jetfighter takes part in the NATO exercise as part of the NATO Air Policing mission, in Alliance members’ sovereign airspace on July 4, 2023.John Thys | Afp | Getty ImagesShares of Swedish defense giant Saab jumped on Friday morning, after the company reported stronger-than-expected profit and sales growth for the second quarter.Shares were last seen trading 12.16% higher at 3:53 E.T.Saab’s operating income for the second quarter came in at 1.98 billion Swedish kronor ($200 million), marking a 49% year-on-year jump and a beat on the 1.71 billion krona expected by analysts polled by…
