Biden calls on FTC to probe anti-consumer behavior by energy companies as gas prices soar

US President Joe Biden speaks during an event to commemorate Veterans Day at The Tomb of the Unknown Soldier at Arlington National Cemetary in Arlington, Virginia on November 11, 2021. Nicholas Kamm | AFP | Getty Images President Joe Biden is asking the Federal Trade Commission to look into behavior from energy companies as prices … Read more

Investors want Exxon Mobil to pivot. Here’s the oil giant’s new playbook

Oil giant Exxon Mobil, once the most valuable company in the U.S., is fighting for its future. Over the summer, investors forced a change on Exxon’s board. Since then, the company has been speeding up plans for its green economy pivot, which includes carbon capture and storage. Carbon capture is the process of capturing CO2 … Read more

Joe Manchin’s former aides lobbied Congress for oil, gas and pharma while he fought to shrink Biden’s economic plans

Sen. Joe Manchin has been working to shrink or eliminate key elements of President Joe Biden and the Democratic Party’s massive social spending and climate proposal as several of his former advisors lobby Congress for their corporate clients. Manchin, the moderate West Virginia Democrat, has at least six former aides and advisors lobbying members of … Read more

Exxon posts highest quarterly profit in years, but revenue disappoints

A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. Sergio Moraes | Reuters Exxon said Friday that its third-quarter profit was the highest in years as improving demand, higher commodity prices and streamlined operations boosted results. The company … Read more

Chevron reports highest free cash flow on record as rebound in oil boost results; shares gain

Oil well pump jacks operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images Chevron said Friday that it generated the highest free cash flow on record during the third quarter as surging commodities prices and lower operational costs boosted operations. The oil … Read more

What is Putin’s greatest worry right now? His own citizens

Russian President Vladimir Putin talks during his meeting with workers after riding a train across the bridge linking Russia and Crimean Peninsula at Taman railways station on December 24, 2019 near Anapa, Russia. Mikhail Svetlov | Getty Images News | Getty Images Improving Russian citizens’ living standards is President Vladimir Putin’s biggest concern right now, … Read more

Stocks making the biggest moves midday: Facebook, Ford, General Motors and more

Facebook’s logo displayed on a phone screen. Jakub Porzycki | NurPhoto via Getty Images Check out the companies making headlines in midday trading. Facebook — Facebook shares fell 5.5% after a company whistleblower unveiled her identify and accused the social media giant of a “betrayal of democracy.” The whistleblower leaked documents to The Wall Street … Read more

Here’s why Brits are panic buying gasoline

BURY ST EDMUNDS, SUFFOLK, UNITED KINGDOM – 2021/09/25: People filling their cars up at BP petrol station during the fuel crisis in Bury St Edmunds. SOPA Images | LightRocket | Getty Images LONDON — British drivers have been panic buying gasoline in recent days, leading to lengthy lines, gas station closures and concerns that doctors … Read more

Here are Monday’s biggest analyst calls of the day: Amazon, Apple, Nike, Exxon, GM & more

Here are the biggest calls on Wall Street on Source link

Engine No. 1 takes climate fight to other big oil companies after underdog win at Exxon

A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, May 15, 2021. Kathleen Flynn | Reuters Activist firm Engine No. 1 after winning three board seats at Exxon is meeting with other oil companies as part of its climate change fight, a source familiar told CNBC’s David Faber. The hedge fund has … Read more