35 Burst results for "Exxon Mobil"
"exxon mobil" Discussed on Bloomberg Radio New York
"Money unlike your financial potential with IBKR all in one account solution, visit IBKR dot com slash money. But regional bank turmoil remains in focus this morning as we learn of new developments concerning first republic bank, Bloomberg state rapaport joins us with those details. Good morning, Steve. Good morning, Karen and Amy, the Treasury Department and other financial regulators are reaching out to banks and equity firms to explore a possible bailout for the struggling lender. That's according to Reuters, which also says it's unclear if a rescue would include taxpayer dollars. First republic stocks sank this week after the bank reported a 41% drop in deposits during the first quarter. Many customers bolted despite the lender getting a cash infusion from large firms to stabilize it, live in New York, I'm Steve rappaport, Bloomberg daybreak. Steve, thank you another stock we are following this morning is Amazon shares are coming off a volatile day. Initially, earnings boosted Amazon's stock around 12%. Now it is down more than 1% in early trading. Chief financial officer Brian Al savski says Amazon's cloud business is cooling. As expected customers continue to evaluate ways to optimize their cloud spending in response to these tough economic conditions in the first quarter. And we are seeing these optimizations continue into the second quarter with April revenue growth rates about 500 basis points lower than what we saw in Q one. CFO Brian Al savski says Amazon's most profitable division saw a 16% gain in revenue, the slowest growth rate since Amazon began breaking out the unit sales. And we got another big earnings report this morning, oil, giant Chevron beating expectations as first quarter profit surged. Traders are watching if oil supermajors can sustain massive share buybacks and dividends despite something prices. Meanwhile, Exxon earnings are crossing the Bloomberg right now first quarter profit beating and a less estimate. And Karen a couple other notable stocks on the move this morning shares of Intel are up more than 5% after the chipmaker promised a second half recovery, shares of snap are plunging after the social media company reported its first ever quarterly revenue decline, snap is down now nearly 20% in the pre market. But to politics now, Amy, and a few headlines involving the race for president, there's concern about Democrats that President Biden's reelection announcement is not exciting voters. Presidents campaign reports not raising much money since the announcement. And a case on the plot to overturn the 2020 election back in focus, Donald Trump saw his former vice president testify before the federal grand jury investigating the matter yesterday. We are told Pence testified for several hours. And that's the 5 things you need to know to start your day brought to you by interactive brokers. And again, Exxon crossing the Bloomberg had posted its strongest ever start to a year as oil production soars from new wells in the U.S. and off the coast of South America. Futures are lower this morning straight ahead your latest local headlines plus a check of sports and this is Bloomberg. Thank you, Karen. 6 31 on Wall Street now let's bring in John Tucker with more on what else is going on in New York and around the world John.
"exxon mobil" Discussed on Bloomberg Radio New York
"To daybreak Europe live on London, DAB radio. Let's start this area with a check on the markets for you. We're just over an hour into the European trading session here. European stocks declining equities across Asia had fallen as well as concerns about the spread of COVID-19 from China weakened risk appetite on this one of the final trading days of the year. The stock 600 air down by three tenths of 1%, the 4100 stand by 6 tenths, the cat carot in Paris, down by two tenths of 1%. The Dax and Frankfurt actually retracing some of its earlier losses. There's now trading flat, similar picture for the FTSE maybe initially, we just flat to the downside in terms of the sectors across the stock 600, technology shares seeing some small gains up by four tenths of 1% healthcare shares now also eking out some small gains as well. Most of the sectors, though, are in negative territory, food beverage and tobacco shares bottom of the basket down by 9 turns of 1% retail real estate and energy shares are also down by 8 tenths this morning. Things looking a little more positive on Wall Street futures, S&P E minis are a quarter of 1% higher NASDAQ features now half a percent higher as we're seeing a rally across the European bond space as well the ten year German bond yield now two basis points lower 2.47%. The pound is trading two tens of 1% stronger against the dollar one 2045 is where that's trading, similar to north for the Euro one O 6 35 is why the Euro is trading against the dollars. That was the markets. Let's get to our top stories. The United States and Italy are the latest countries to announce a requirement for negative COVID tests for travelers from China. Bloomberg's White House reporter Jordan Fabian says concerns are growing over the risk of new variants of the virus emerging. The U.S. officials have become increasingly alarmed at the level of COVID infections in China. And also what they say is the lack of transparency regarding the data coming out. U.S. officials also telling Jordan Fabian they aren't currently considering a travel ban for people coming from China, the UK, Australia, and Germany haven't yet introduced any new restrictions that are said to be monitoring developments closely. Goldman Sachs is working on a fresh round of job cuts that will be unveiled in a matter of weeks with the details his Bloomberg's Charlie palace. That word from CEO David Solomon in his traditional yearend message to staff Solomon said quote we are conducting a careful review and while discussions are still ongoing, we anticipate our headcount reduction will take place in the first half of January. He says there are a variety of factors impacting the business landscape, including tightening monetary conditions that are slowing down economic activity. Earlier this month, sources said the firm may seek to eliminate as much as 8% of its workforce or up to 4000 jobs to contain a slump in profit and revenue. In New York, Charlie palette Bloomberg daybreak Europe. ExxonMobil is suing the European Union in a bed to block a new windfall tax on oil companies, it argues the block does not have the legal authority to impose the levee, they'll also put the firm in a collision course with governments who are looking to raise billions to bring down energy costs for consumers, Exxon's chief financial officer recently told investors that windfall taxes in various countries could cast the company at least $2 billion by the end of 2023. Here in the UK where she's in act spokesman says the government is aware of the strikes hitting the country are causing massive disruption. The comments come as borgia force workers and railway staff continue their industrial action today. The general secretary of the two UC Paul Novak says ministers need to negotiate on salary increases. We have a recruitment and retention crisis across large parts of our public services, a 133,000 staff vacancies in the NHS and you're not going to resolve that issue unless you get the pay of NHS workers rise and again. Paul Novak also says the UK could face years of strikes, nurses and ambulance workers are planning further industrial action in January after walkouts earlier this month. And staying in the UK consumers are planning to cut back on eating out and non-essential shopping next year as the cost of living continues to rise, a survey by the consulting firm KPMG found that almost two thirds of people felt the need to reduce spending and save more amid rising food and housing costs, almost half of the 3000 people surveyed said they're dipping into savings to meet essential costs that figure rising to 80% among low income households one in ten consumer surveys said they had no savings, though, and on average people in London had the lowest average savings at 4725 pounds. So those are the top stories that we're following for you this morning, interesting to contrast those cost of living stories with Juarez on the front pages of the newspapers today, of course, still plenty of focus on strikes. Good morning, Leigh Anne garen you've been looking through these stories for us. The times has the headline union chief says coordinated strikes are only a matter of time. Yes, indeed, Stephen, and as he just mentioned they're not only are their strikes happening, there's also a cost of living crisis happening and we've been speaking about this for months actually, and now ministers are warning that it's only a matter of time before striking unions are joined forces. Britain's been told that it faces coordinated and escalating walkouts in the new year. Now this has really an attempt to push the government into a corner to back down on public pay sector disputes. Marks are what he is a general secretary of the PCS union which covers things like border force workers, and he says Richie sunac is refusing to step in. He's just repeating his assertion that below and face and settlements could not be reopened, also speaking to sky new Stephen, as you mentioned, Paul Novak, the head of the T UC is accusing ministers of Sabo charging negotiations, and as you mentioned, Rishi sunak has acknowledged that there's massive disruption happening across the country, especially those rail strikes over Christmas, and now according to the time newspaper the government is planning to set out laws next month restricting the rights of staff in certain public sectors to a strike. So I feel like this argument is probably going to escalate into the new year. Okay, that is the story in the times. The Financial Times has a story on how the City of London has adapted to hybrid working. It's adapted and divided to hybrid working actually according to the Financial Times, and it's saying financial and professional companies have seen the biggest divide since the COVID pandemic when it comes to who can work from home, some are demanding staff return to the office several days a week while others are giving employees as much greater freedom to choose when they work from home. And a lot of that is to do with the tight labor market that we are seeing,
"exxon mobil" Discussed on Bloomberg Radio New York
"Just approaching half past 7 o'clock in the morning right here in Hong Kong, half past 6 in the evening on the Atlantic seaboard of the United States and Richard Salomon. And I'm Brian Curtis markets are looking like they'll move to the downside today pretty consistently here across the equity futures market. And in the cash, the a 6 X 200 training down about 8 tenths of 1% futures in Tokyo 26,075 and it's about 270 points or so below the cash closed yesterday. We'll get details on markets in a few moments, but for now the top stories. Right, we've got Hong Kong residents reacting swiftly to China's relaxation of quarantine restrictions. They're flooding the Internet. Just search for flights to keep mainland cities up and searches for flights from Hong Kong to the mainland on trip dot com and sea trip jumped around about 521% late on Monday evening local time compared to the same time a week ago. The top 5 destinations were Shanghai Beijing Hangzhou Chengdu and Nanjing. Search traffic up by over 1000% for Shanghai and 718% for Beijing, tourism related households are surging as a result of China's announcement on the relaxation rules. In other news, ExxonMobil is suing the European Union in a push to eliminate a new windfall tax against oil groups. We get more from Bloomberg's Charlie pellet. The oil giant argues the block does not have legal authority to impose the levee. The lawsuit is a major response to the tax from the oil industry that has reaped record profits this year as western governments have sought to bring down skyrocketing consumer energy bills following Russia's invasion of Ukraine. The action could jeopardize the tax, which would raise billions to bring down consumer energy costs. In New York, Charlie pellets, Bloomberg, daybreak, Asia. Right, well we got Goldman Sachs cutting stuff in the coming weeks. That's news coming from the chief executive David Solomon's traditional yearend message. We are told he told staff that cuts are now going to be part of a move to contain its slump in profit and revenue. Now in Solomon's message he pointed several factors that have been impacting business and that includes tightening monetary conditions that are slowing down economic activity, but told that the bank may seek to get rid of as much as 8% of its workforce or up to 4000 jobs. We're told that Mizuho securities arm, an arm there, plans to close the Japanese investment subsidiary in June of next year. A Mizuho securities spokesperson confirmed the plan, employees of the subsidiary are said to be discussing a severance package and retirement date, among other conditions. Japan's brokerages have been grappling with volatility fueled by Central Bank policies and geopolitics that have caused retail clients to turn more cautious. At the end of August, the Tokyo based unit was down to 19 employees. All right, it's time now at the time approaching 28 minutes to the top of the hour. Riot, the British prime minister bracing for what he's calling a massive disruption as a workers strikes group at Baxter has global news
"exxon mobil" Discussed on Oil and Gas This Week Podcast
"Made to emerging economies because of climate change and that is like really ridiculous and they had that one guy who was the guy that we saw that was a member of that panel that stood up and apologized to the oil and gas. Oh man i can't think of his name so you had one person. One person that was parts panel that themselves couldn't stand with his peers. Were doing and so literally said. I apologized away. You're treated you have a right to run your business as you see fit. You have a right to invest money as you see fit you have been dealing with large cap ex energy projects way longer than us. Government has and much better than the us government. So i apologize and we if we gotta get this guy's name. I wanna throw it in the show notes that reach out please. I'll look for short video was wonderfully done but once again you know the us political system right now is witch hunting the oil and gas industry and it just needs to stop and i'm telling you something next year in the next six or eight months we're gonna hit a global energy shorts like the world has never seen and i think it's gonna be a chance for us to stop some of this because it's great to talk about how august industry might be harming the environment when your electricity bill. You can pay you. Keep your house cool and heated. Keep your frigerator running when when you little over can afford to do that. Which is going to happen. Relatively soon i think people are stopping reevaluate where they stand on this sort of stuff and as an industry could be our chance to actually turn his tied. You'll see this in my predictions and a couple of weeks. But you know once again. Here's the us government subpoenaing the heads of major oil companies and grilling them in public on climate change. And this is just absurd so you know. Let's let's hope that this trend are. Let's hope this does not become a trend. This is just an loft case all right so the next article is shell. Ceo defense strategy against low bid to split company. Yes just like what happened with engine number one in exxon mobil. Here's a company that grabs some share some seats on the board of shell and what they wanna do is split..
"exxon mobil" Discussed on WNYC 93.9 FM
"Says It was his badge that proved he was who he said he was. I'm Matt Levin for marketplace. Yeah. Coming up back to school is usually really big business for us. Usually That's not good First, though, let's do the numbers. Dow Industrials Lost 151 points the day 4/10 percent 8 34,079, the NASDAQ Down 38 points. About a quarter percent. Finished at 15,000 to 48, the S and P 500 down 20 points 4/10 percent 44 93 word from San fields about that airline story. An airline stocks today. Well, lots of lift. Shall we say, Delta of three and 6/10 percent. Jet blew up. 4%. American Airlines up. 5.5% Biden ministrations. Vaccine News. Mitchell gave us some companies already on the vaccine mandate Trained CVS down 9 10% Today. Facebook up to 10% Citigroup, up about a half percent oil down today is trying to make clear it will tap its state oil reserves. Exxon Mobil was flat Chevron Down about 4/10 of 1% Day, bond prices went up. That means the yield goes the other way. The.
Interview With Ursula Burns, Former CEO, Xerox
"Hey everyone our guest. Today is ursula burns. Ursula is a business woman who most known for being e former ceo of xerox which she ran from two thousand nine to twenty sixteen when she took the top job at xerox decades. Working her way up at the company or stella became the first black woman ever to run a fortune. Five hundred company. She has also served on the board of some of the biggest companies in the world including uber. Exxon mobil and nestle her memoir. Where you are is not who you are is in stores now ursula. Thanks so much for joining us. Welcome to skimp from the couch. That you very much for having me Danielle and curly epi bigger. So you are a public leader your name that we grew up knowing and as we went on our own endeavor or somebody that we looked up to by. You're actually like a private person. And i'm curious what is a fun fact about you. You'd sound you found one. I am actually a very private person. I say this in the book in people who read it earlier in who were reading it now kind surprised by the fact that i'm an introvert and pretty much a loner in a very traditional sense of the word i kinda like silence. I like times that. I'm isolated in that sound so unusual. I have two children at crazy. Hours been newest How that fit into a life but it. It's i dunno. it's something. I've always thought about it but i like law.
Engine No. 1’s Big Win Over Exxon Shows Activist Hedge Funds Joining Fight Against Climate Change
"And so how did this vote actually come about a small hedge fund called engine number one which was just recently formed and which holds a very tiny stake in exxon mobil far less than one percent manage to galvanize support of massive investment funds like calpers which is californian mega pension fund. The new york state employees pension fund out more than a trillion dollars worth of capital are held by some of these more progressive pension funds. That are very interested in the issue. Climate change it won the support of important proxy advisory services as they're known such as i s in blast lewis these agencies give recommendations that are often followed by the big institutional investors on how to vote and they both supported the tiny dissident for a change in exxon
"exxon mobil" Discussed on WBSM 1420
"Lots of cover today, so we're gonna be moving quickly. And yet thoroughly Leave about a minute in this segment, but after the bottom of the hour blaze media Picking up on a piece in The New York Times. Climate activists elected the board of Exxon Mobil after hedge funds push Why does this matter? What is this whole about? This is about everything. This matters enormously. Had a climate activists. Get elected to the board of the biggest oil company in America, Exxon Mobil When their goal is to destroy Exxon Mobil. The throw a monkey wrench into all Fossil fuel expert exploration. How did this happen? What does this mean? Who's behind this? This isn't just some passing story. Ladies and gentlemen, there's a big deal. We have a lot to learn. From our enemies on the left. So we're going to spend a little bit of time discussing this. I hope you'll stick with us very important. I'll be right back. Squeaking doors clog sinks finicky engine with things break around the house. You take care of it, However, when something's off in the bedroom, you just try not to think about it..
"exxon mobil" Discussed on KOMO
"I'm Rick Fan size with editor Jeremy Greater and ELISA Jaffe. With a day off headlines of Biden Administration official says a man accused of killing nine people of the California railyard spoke of hating his workplace. While he was detained by U. S customs officers after a 2016 trip to the Philippines to comas. Police union says fax were ignored in favor of what appears to be a politically motivated witch hunt, they say after the state attorney general today charged three officers in the death of Manual Ellis, who said he couldn't breathe as he was being restrained. It has been a tough week for some of the biggest names on the oil industry. Exxon Mobil, Royal Dutch Shell and Chevron have all been asked to Ted taken to task when it comes to their roles and global climate change. Steven Mufson following it for the Washington Post and talked with Cuomo's Bill O'Neill, Stephen, let's start with Shell, which actually is now looking at a court order and all of this It's a case brought by some climate activists in a court in The Hague. And the court ruled that Shell, which is generally thought of as being one of the more forward looking at the big oil companies. Hold the company that it needed to do more and do faster to reduce its emissions of greenhouse gasses. Now, as for Exxon Mobil and Chevron both face new directors from their shareholders when it comes to climate change, don't think they do and, uh, next time case it was delivered of the small hedge fund. Which owned 0.2% of the company, But, you know, got a lot of pension funds and other big stock fund managers. To rally to their side and cast votes against companies management and in favor of Some people who they think will have some new thinking on issues like climate change. Now, of course, all of this really is a process. Whether it's a court order or the shareholders air directly, then changed does take time, though, doesn't it? It's tough on a big company companies like Exxon Mobil. Which has operations all over the world, so it can be to sculpt that. On the other hand, you look at a company like BP, and it says that it's going to reduce its production by 40% of the over the coming decades. That's that's a lot for a big company, and I think a lot of the shareholders felt that more could be done. And they're trying to send some kind of message to the company's management. Of course, there are other big players in this industry. You mentioned BP who are surely taking note of what's happening here. Definitely, you know, it's it's most difficult for the oil and gas industry because you know you're really talking about climate change is really an existential question for them. You're really talking about them. Reducing the core of what they do and finding some other way to make money. Or some some way to make their products little less harmful. There's a tough thing, but it Z. There's a more of a sense of urgency about this among companies that I think there has been before That's business of climate change. Reporter Steven Mufson read more online had Washington post dot com and that's comas Bill O'Neill. But there's a good chance the car in your driveway is worth a lot more than you think. Shortage of cars driving up prices. If you need to buy a used car do it quickly, Experts say the same used car sitting on the lot today. Could cost more next week. This is totally weird. Typically, I used car will depreciate. I'II drop in price by about 1% per week. The idea that it would in three or four months increase by over 25%. Is unheard of. We're seeing all kinds of strangeness on that thing. Toby Russell with shift, calm says there's a surge of demand for all cars as more buyers feel the end of the pandemic is in sight. Add to that a computer chip shortage, causing fewer new cars to be built, and people who would otherwise buy a new car are now buying used their car's worth more now. To everybody. That was even a few months ago..
"exxon mobil" Discussed on KCRW
"We're leading with the tiny hedge fund worried about climate change that has shaken up the world of Boardrooms Theater Vist hedge fund is called engine number one and yesterday when the vote was in, it had won enough support from other shareholders to get at least two seats on the board of the oil company, Exxon Mobil. Votes are still being counted. And maybe there might be more. The investors didn't think Exxon has done enough with cleaner energy. These types of challenges from activist investors tend not to get very far. Eric Gordon is a professor at the University of Michigan's Ross School of Business and closely follows shareholder activism. Eric Thanks for joining us. Good morning, David. Here to say a watershed moment. This is a real sea change. This is the first time the climate change, people have been able to challenge and succeed against a big oil company. And the big oil company here did not want this change. And the challengers here. We're not really huge shareholders. It's not like they owned 51% of Exxon Mobil. You know, in the world of investing, it was an ant. This engine number one. The actual name of the Challenger is like a tiny and you can barely see them. But they put together and executed a masterful plan and they won. In large part, you could argue on the power of ideas, the pressing challenge of climate change. Yeah, it Woz the triumph of an idea whose time has perhaps more than come against entrenched power. I mean, what is more entrenched and powerful than Exxon? Out boardrooms across the country are probably reading and listening with great attentiveness. They sure are because one it's a big surprise, and two directors like to keep their jobs, their difficult jobs. They do a lot of work, but they pay a lot of money The Exxon directors make between 206 $175,000. A year. These are jobs they want to keep. And it's embarrassing amongst your peers to lose your job as a director. And it moves the needle on the fight against carbon gasses in the atmosphere that contribute to climate change. You think I think it more than moves the needle? I think any company oil company or not, that is perceived to be dragging its feet the way Exxon was perceived to be dragging its feet. Is going to take notice and is probably going to speed things up. Eric Gordon is a professor of the University of Michigan's Ross School of Business. Always good to talk to you. My pleasure, David. Also yesterday, another of the oil majors as they're called Royal Dutch Shell lost landmark case in a European court where environmental activist successfully sued to four shell to cut more of its production of greenhouse gasses. By the end of this decade. Shell can appeal. For the first time since President Biden took office, the top trade representatives from the U. S and China are talking more communication must be a good thing. But experts say there's no end in sight to tariffs. Marketplaces nervous. A foe has more. U. S trade representative Catherine Ties office called yesterday's virtual meeting with her Chinese counterpart, an introductory one and a candid exchange, notably the office provided no date for future talks over the ongoing trade dispute between the two countries. The Trump Administration's tariffs on Chinese imports are still in place, including on steel and aluminum, along with retaliatory Chinese tariffs on American goods, such as soybeans. Lower level. Officials from both sides meet monthly to carry out the so called phase one deal, which set a moratorium on new tariffs. Under that deal, China agreed to buy more American goods, though it has not met many of its annual purchase targets. I'm nervous offer for marketplace. The Dow is up 202 point 6/10 of a percent. The S and P 500 is up 4/10 percent. The NASDAQ composite just turned slightly negative. The 10 year interest rate up this morning 1.62%. There was another drop in the number of people signing up for unemployment benefits over the last week, this with more people getting vaccinated in states rolling back eligibility that have been widened during the pandemic. US. Jobless claims dropped to 406,000 new ones. Down 9% from a week earlier. That's another pandemic. Low.
"exxon mobil" Discussed on KQED Radio
"Today, the 26th Day of Meghan's always have you along, everybody. This is a corporate news kind of day. Some days. You get economic indicators to start the program. Some days you get market news today. We got companies big companies to so let us just tick through the list here, shall we? Energy leads the way kind of surprising news out of ExxonMobil's annual shareholder meeting today took her symbol x O. M, by the way, turns out a hedge fund, a relatively small ish hedge fund. It called Engine number one. Which holds a very small slice of Exxon Mobil stock has convinced some other much bigger shareholders that they should put a couple of engine number one's candidates on that company's board of directors candidates that would, and this is the important part. Force Exxon to cut back on its fossil fuel strategy and investments and doom or about climate change. It sounds inside re I suppose a little bit of corporate governance, but it is a very big Deal also and related to court over in the Netherlands today ordered Royal Dutch Shell to cut its carbon emissions by 45% within the next nine years, which is basically like tomorrow in corporate time. All right. Moving on Big Wall Street Bank CEOs Wrong Capitol Hill today, virtually, of course, that is. It was about what you'd expect from one of those five witnesses, a dozen or more senators asking questions kind of hearings. Inflation is on their minds. It turns out nothing new there housings in a bit of a bubble, Nothing really new there, either That kind of thing, although should be said Elizabeth Warren, senator of Massachusetts did give JP Morgan CEO Jamie Diamond good going over about overdraft fees and the $1.5 billion J. P. Morgan collected of them in the past year and at Amazon's annual meeting A M. ZN, of course, Jeff Bezos said July 5th is going to be his last day as CEO. That was trick headline because it is not the Amazon News. Oh, the day after a week or two of rumors, the company said today it is going to buy MGM Studios for $8.5 billion that's all in with debt. Yes, it is a big ish mergers and acquisitions story. But as with so much other news of late, this is at least as much a tech story. So we have gotten Hollywood on the phone. She's the host of marketplace Tech when she's not busy doing my job when I'm sick. Hey, Molly. Okay, Well, you know, I appreciate you. I appreciate you coming in. So long, man. Yeah, it is a tech story and Tech and Amazon. It's got to be Amazon Prime, which is at the root of this deal, right? Absolutely. I mean, I think we would be mistaken. If we said this is Amazon's attempt to beat Netflix right or become Netflix. Certainly streaming video as a business model has more than proven itself. It's been interesting for a while that Amazon has made good shows clearly and created its own content for its Amazon video streaming service, but hasn't Tried to acquire a big library until now, And I think what this ultimately is is a very expensive way to get people in the door and want to pay for that prime subscription, which is where Amazon makes a lot of money and also maybe pay a little bit like we talked about on make me smart pay a little bit here and there to subscribe to other services like Showtime or Cinemax. I mean, Amazon doesn't tidy little business as almost a Leeds generator for other streaming services to write, Make me smart, Of course, the podcast that we do together should you be in the mood for a podcast listeners out there. We talked about the story of the morning meeting this morning, and I think Michael Lipton, actually, your producer said. It's about Stickiness for Amazon Prime, right? They want to get people in and give them just another reason to stick around. Forget the free delivery. Forget all that stuff. And maybe that 100 or so dollars a year ain't so bad if you get all these movies, too. Exactly And you have seen people sort of start to grumble about the price of prime going up as it has over the couple years. Then, if you on Lee, think of it as paying for free shipping, it does start to feel like well. Is this really worth it? I can get free shipping from target. It is not about e commerce. Prime is about the idea that once you have subscribed in your part of this ecosystem, you get all of these different benefits. And, you know probably yes, there's a little bit of Hollywood dabbling here. Also in the Amazon shareholder meeting today, Jeff Bezos, in addition to announcing his retirement date, said that they plan to use this MGM catalog and developed You know, intellectual property. New shows around it extended into new entertainment. Yeah, which is which is the name of the game. The AIP. So you said they're not competing with Netflix. Right? So, so Reed, Hastings and Ted Sarandos aren't necessarily nervous about this deal. Bob Iger, the executive chairman of Disney, but really functioning mostly is the chief executive officer is probably not nervous about this deal. What if you're like Peacock, who? Lulu Yeah. Then I think you really have to worry unless you can get a great deal for placement within Amazon Prime, you know, subscribed to Peacock Er, Hu Lu through Amazon Prime, and that is one of the ways that I think Amazon is trying to deflect some of the antitrust worries about this is by saying, Listen, we're not that big and streaming. We don't intend to be You know the only name in video streaming and look it of all of the ways that we offer consumers to subscribe to our competitors through our service. As long as they keep doing that, I think they hope they can keep the antitrust boogeyman off their backs. Molly, would she of many hats in this production shop? Thanks. Milly will talk to you soon. Thanks. God this afternoon, In fact on podcast Anyway, I'll be very good. Me too. All right. Moving on. You want to be an entrepreneur? You want to start a new business. You gotta have some guts and in no industry right now, I think you can fairly say are more guts required. And in commercial aviation. Which is why it's interesting..
A Tiny Fund Scores Historic Win in Battle Against ExxonMobil
"Energy leads the way kinda surprising. News out of exxonmobil's annual shareholder meeting today ticker symbol x. Oh by the way turns out a hedge fund a relatively small a hedge fund called number one which holds a very small slice of exxon mobil. Stock has convinced some other much bigger shareholders that they should put a couple of engine number one's candidates on that company's board of directors candidates that would and this is the important part force exxon to cut back on its fossil fuel strategy and investments. And do more about climate change. It sounds insanitary. I suppose a little bit of corporate governance but it is a very big
"exxon mobil" Discussed on KTRH
"Houston this afternoon. Police say the woman was found shot to death in the 5600 block of DeSoto Street. Another man and woman found on the scene were transported to the hospital Officers say they had detained a possible suspect. President Biden has ordered flags to be lowered at half staff, adding. He's already done so several other times for mass shootings, he said. We can. We must do more to stop the violence. This morning there was a mass shooting in San Jose, California at a city transportation light rail yard. The gunman apparently took his own life after killing eight people. Texas governor Greg Abbott appears to be resisting calls for a special session. And it says the Texas House in Senate still have time to work together on getting quote conservative legislation to his desk. He's pushing the chambers to stay focused with less than a week to go in the regular sessions. A big shakeup at Exxon Mobil today. Wow, it's the annual shareholders meeting today in a small hedge fund basically climate change activists pushing for better plans to fight global warming 12 seats on the board these air minority positions. Exxon has eight nominees who made it onto the board. But Exxon is said to be embarrassed and angry. The fund is called Engine number one, not much background in oil and gas. But today the little company that could and did push against an oil giant came out on top. Nikki Courtney News radio 7 40 Ktrh. Ktrh news time 50 to another Quiet day on Wall Street as the markets again lack direction. Now, with a look at today's numbers, Here's ktrh Money Man Patch in Brought to you by GM auto leasing dot com Good evening. Wyatt Stocks closing today. Modestly higher The Dow industrials finishing the day up by just 10 points. Closing a 3 34,023 S and P 500 up seven points, or 2/10 of 1%, the NASDAQ Up 80 points on the day, two thirds of 1% oil up 24. Cents $66.31 a barrel gold up by $3.20 an ounce $1901 with the check of your money from the Office of Heritage has Said Advisors. I'm patch and for news radio 7 40 ktrh, the Astros will look to avoid getting swept by the Dodgers as they wrap up there. Quick to Game series at Minute Maid Park tonight pregame at 5 30 with the first pitch..
In shift, oil industry group backs federal price on carbon
"The top oil and gas industry lobby group is now endorsing putting a federal price on carbon dioxide emissions. Reversal designed to show seriousness and addressing climate change. The decision by the American Petroleum Institute, whose members include oil giants, such as Exxon Mobil and Chevron, ends the group's longstanding opposition that helped sink cap and trade legislation just over a decade ago.
How the state of the oil and gas industry affects the city of Houston
"As you may have heard earlier on morning edition. Oil giants were expected to make up some of their financial losses in the last quarter of twenty twenty but final earnings reports released. This week show. That was definitely not the case. Texas headquartered exxon mobil reported a fourth-quarter loss of more than twenty billion dollars. Bp which has its headquarters here in houston recorded a full year loss of five point. Seven billion houston headquartered conaco phillips two point seven billion lost in twenty twenty demand for crude oil dried up last year after officials called for lockdowns and travel restrictions due to the pandemic and there was already a glut in domestic supply not a good equation for the industry and the news may not be much better for oil and gas so far in twenty twenty one to discuss. Why and how it may affect houston. We're joined now by energy writer lawrence steffi. Who's the managing director for thirty points strategies. A writer at large for texas monthly and columnist for energy voice dot com lauren. Good morning good morning greg. Thanks for having me glad to have you with us. The pandemic has obviously played a big role in revenue loss for many companies. How specifically has it impacted the oil and gas industry over the last year. Well i mean you just discussed the earnings numbers and i think that that's You know one of the big impacts. I mean we've had this very unique situation over the past year where we've had an environment of low prices and low demand which is really pretty unique in the history of the industry and it's It's good a lot of companies in pretty tough spot. Does it also signal what we may see as sort of the ongoing future for this industry. Yeah i think there's sort of two it you have to take in the shorter term. Prices have come back a little bit. we'll see if the industry has you know enough financial discipline to to hold the line on that But but i think in the short term you know as vaccines roll out and and more people are able to travel again. You're going to see a pretty big spike in the band. I think when you look beyond that though you have to sort of recognize what's happening in the market and basically a lot of things are moving against the oil and gas industry You know investment is moving away from fossil fuels government policy. Worldwide is moving away from fossil fuels and even consumer choices. Moving away from fossil fuels. And that's especially true when you look at things like gm's announcement to go to a zero emission sleep by twenty thirty five. You're gonna see more products available. That consumers will give consumers an alternative to oil and gas. You mentioned government policy. How might the biden administration help or hinder efforts of the big oil and gas companies to balanced back in the coming year. Well i think you know. The biden administration has made it very clear that they want to pull us into greener energy future. Which is fine. Where i think they're being disingenuous. Is that for for many years now. Democrats have touted. You know the idea of green jobs as being replacement for jobs will be lost in the world gas industry and i think that's really You know just not accurate. I mean there's no way you're gonna replace the number of jobs you're gonna lose You know if you just think about it. It takes fewer people. To maintain a windmill does oil rig. And so you know some of those those jobs especially on the frontlines the gas industry or not coming back And that's important because those are high paying jobs. I mean it's one of the few areas in the united states where somebody with a high school. Education can still make a six figure incomes. So those are gonna be tough jobs to replace. I think the democrats need to be more honest about that situation. The other side of the coin You see republicans digging in decrying the loss of jobs that are gonna come from these policies but you know we've lost sixty thousand jobs in texas in the oil industry in less than a year And there hasn't been a lot of leadership on the republican side. We're how we're gonna manage this transition. So i think both sides need to provide some leadership and start and stop throwing around you know ideology and And actually try to try to offer some concrete solutions for the people that will be most
"exxon mobil" Discussed on WBAP 820AM
"Overwhelmingly rebuffed of rebellion by hard right conservatives to toss Cheney over her vote last month to impeach then President Donald Trump. And already leader Kevin McCarthy ridicule Democrats for slighting a house vote on Thursday that would remove green from her committees. Pharmacies and taxes will begin to roll out covert 19 vaccinations later this month. It's part of a Biden administration plan to distribute covert vaccine to former Cy's beginning next week in Texas, the four participating pharmacies or CBS, WalMart, Good Neighbor and H E B. Chris Van Dusen with the State Health Department says former CIA involvement is another positive step in vaccinating all Texans who wants shots. Well, the more options people have, the better. I think that's really what it comes down to the Vaccines will be limited to certain stores in cities and will on Lee be available for eligible patients who are given appointments click. Nevil, WB. AP News Oil Giants BP and Texas based Exxon have reported staggering losses for 2020 as the pandemic crushed energy demand and caused oil prices to tumble. Exxon Mobil on Tuesday reported the biggest losses in its history, nearly 20.1 billion for the fourth quarter and 22.4 billion for the full year. Most of that was writing down the value of assets held by Exxon, UK based BP posted 1/4 quarter profit of 825 million but still lost 18.1 billion in 2020. Cos they're cutting costs and hoping that the rollout of covered 19 vaccines will mean a return to the more normal life for businesses and consumers, which would in turn boost energy demand. Right now. 64 degrees at DFW..
"exxon mobil" Discussed on KCRW
"Also staying in the inland Empire. 10 East After Haven Avenue in Ontario, a sig alert their stall big rig is blocking the right lane case will be traffic Brought to you by Goetzman Group Time now, 5 50. This is all things considered from NPR news. I'm Ari Shapiro and I'm Mary Louise Kelly. The pandemic has lead to reduced, commuting, less travel and therefore a big blow to the oil industry. NPR's Camilla Domina ski reports. Here's how Bernard Loony, the CEO of BP, kicked off his conversation with investors. The covert pandemic has been first human tragedy. It's taken lives and Challenged our mental health. It is also impacted the global economy significantly and we've seen the impact in our sector B p barely eked out a profit. Chevron had a surprise loss, Exxon Mobil announced its biggest quarterly loss ever more than $20 billion. Vaccines are being distributed now, and crude oil prices have been recovering. But oil execs still sound a note of caution. Here's Exxon CEO Darren Woods. We haven't We're not kind of taking that to the bank, so to speak. One question is how long this vaccine rollout will take, And there are other questions. Jason Gableman is an analyst with Talyn. Things like teleworking likely will not fully go away when officers reopen and you'll have more zoom calls replace air travel for live meetings. That's demand that may never come back. Another huge question is how swiftly will the World act to fight global warming? It's happening pretty quickly. I think a lot of people saw that it was like on the horizon, but it zapping. I think much faster than you know. Many people thought it would. That's Caroline Cassandra and why you As the world changes, oil producers may have to change to even Exxon, which often dedicate zero seconds of its earnings presentations to concerns about climate. This week, the company spent nine minutes talking about its plans for reducing its carbon footprint. Camilla Domino Ski NPR news For the novelist Chang Rae Lee, a new book is often a response to the last one. His previous novel on such a Full Sea was a dystopian parable. It was concise controlled. One of the metaphors of that last book is an aquarium that the world and our souls are aquariums and And this one. I wanted to break out of the glass and just let everything flow and maybe spill and his new novel My Year abroad does overflow with characters and scenes. The book is a travel log and a coming of age tale and a mafia thriller that also skewers global capitalism. The protagonist of this sprawling story, is a middle class college student from the New Jersey suburbs. He's unremarkable in every way until he follows a Chinese immigrant entrepreneur on a business trip through East Asia. Began by asking Chang really about the main character's unusual name. I thought that it would, ironically, capture his directionless nous right someone that the tillers someone who's You know, Guiding us steering on do generally knows you know where to go. But the tiller really doesn't have any GPS, right? He's just a dot on the landscape. You know the title of this book My year abroad feels like it could be the title of a college application essay that we've all read, and this is definitely a very different kind of story from what you would expect in that college essay. What were you trying to play on with those expectations? Well, that that college I say that we would expect is what I think Tiller would expect to in any in any travels that we he was gonna have with this fellow named Pong. Of course, I wanted a upturn in that and make it in fact, the exact opposite of what could happen on that trip and invite all sorts of mayhem. And disaster for him. I'd love for you to read a portion of the book. Do you have a copy there with you? Yes, I did. Page two of four. Sure. I'm going to mention a term that's gweilo, which is basically a foreigner. And this is in the context of what happens when people from the West go elsewhere, particularly the East. Regardless, I apologize. If this seems like one of those soldiering gweilo stories in which some willful Western dude ventures abroad and learns the local ways and uses them to gain the trust of the natives. And in turn, show them how it's really done, say, dispatching a malign princeling while saving a beautiful surf girl in the process. You know, fish in strange water ultimately enhances the water sort of tale. Well, I'm here to say that's not how it will go down. My presence did not fundamentally change anything anywhere, for better or worse. Was there a reason that you wanted to turn that typical story on its head? Something about the familiarity of that story that you thought It was time to interrogate or or or trash. Well, you know, we all know that story, of course, and it's essentially a colonial story, right? And I think I think we're all done with that story. On. What we want is, of course, toe to find out a little bit more about ourselves as we always do. Is peoples everywhere Do But the ways in which we get that story isn't as easy and simple as it's been told to us before. There's one section of this book that has drawn from history, which is the cultural revolution in China in the 19 sixties, and we see this period in time through the experience of a husband and wife, both painters. Whose lives are crushed by the rise of communism. How do you see that episode fitting into the contemporary globetrotting story of crime and capitalism that makes up the rest of this book? Well, that's the story of the background of the hero, the novel or at least killers here upon and I wanted to give some material to his life to show where, how far he'd come and his family had come. From those beginnings in Mao's China from being as he says, dirt on the heel of a shoe to being not an oligarch, but a plucky, irrepressible Really charismatic sort of guy who's still has great ambition in life and who still has great energy. I was drawn to that kind of person, you know, as an immigrant myself being established now for many years. Guess I don't have that same kind of verve anymore that say, my parent's generation did. I love to hear more about what interested you about the immigrant bootstraps success story in American capitalism here because the book juxtaposes An immigrant to the U. S. Who has worked his way up the ladder. Against this story of an American in another country who winds up in this situation of betrayal and terror. I mean, what were you hoping to illuminate through those two narratives? Well that the classic narrative of this driver eyes still there. That's what's really motoring this, you know, rampant capitalism that we're all subject to And that killer on the other end is the child of all that. Of course, that's why he's he has the ability to do the things that he does. That's why he has so much comfort and security. But I wanted to point out of course, that that at that other end, there are costs that there's a price to all our consumption and the globalization that's been happening. Chang Rae Lee, His newest novel is called My Year Abroad. Thank you for talking with.
"exxon mobil" Discussed on WNYC 93.9 FM
"From NPR news. I'm Ari Shapiro and I'm Mary Louise Kelly. The pandemic has lead to reduced, commuting, less travel and therefore a big blow to the oil industry. NPR's Camilla Domina ski reports. Here's how Bernard Loony, the CEO of BP, kicked off his conversation with investors. The covert pandemic has been first human tragedy. It's taken lives and Challenged our mental health. It is also impacted the global economy significantly and we've seen the impact in our sector B p barely eked out a profit. Chevron had a surprise loss, Exxon Mobil announced its biggest quarterly loss ever more than $20 billion. Vaccines are being distributed now, and crude oil prices have been recovering. But oil execs still sound a note of caution. Here's Exxon CEO Darren Woods. We haven't We're not kind of taking that to the bank, so to speak. One question is how long this vaccine rollout will take, And there are other questions. Jason Gableman is an analyst with Talyn. Things like teleworking likely will not fully go away when officers reopen and you'll have more zoom calls replace air travel for live meetings. That's demand that may never come back. Another huge question is how swiftly will the World act to fight global warming? It's happening pretty quickly. I think a lot of people saw that it was like on the horizon, but It zapping. I think much faster than you know, Many people thought it would. That's Caroline Kazan of NY you as the world changes, oil producers may have to change too. Even Exxon, which often dedicate zero seconds of its earnings presentations to concerns about climate this week, the company spent nine minutes talking about its plans for reducing its carbon footprint. Camilla dominates key NPR news For the novelist Chang Rae Lee, a new book is often a response to the last one. His previous novel on such a Full Sea was a dystopian parable. It was concise controlled. One of the metaphors of that last book is an aquarium that the world and our souls are aquariums and And this one. I wanted to break out of the glass and just let everything flow and maybe spill and his new novel My Year abroad does overflow with characters and scenes. The book is a travel log and a coming of age tale and a mafia thriller that also skewers global capitalism. The protagonist of this sprawling story, is a middle class college student from the New Jersey suburbs. He's unremarkable in every way until he follows a Chinese immigrant entrepreneur on a business trip through East Asia. Began by asking Chang really about the main character's unusual name. I thought that it would, ironically, capture his directionless nous right someone that the tillers someone who's You know, guiding us steering on D generally knows you know where to go. But the tiller really doesn't have any GPS, right? He's just a dot on the landscape. You know the title of this book My year abroad feels like it could be the title of a college application essay that we've all read, and this is definitely a very different kind of story from what you would expect in that college essay. What were you trying to play on with those expectations? Well, that that college essay that we would expect is what I think Tiller would expect to in any in any travels that we he was gonna have with this fellow named Pong. Of course, I wanted a upturn in that and make it in fact, the exact opposite of what could happen on that trip and invite all sorts of mayhem. And disaster for him. I'd love for you to read a portion of the book. Do you have a copy there with you? Yes, I do. Page two of four. Sure I'm going to mention a term that's gweilo, which is basically a foreigner. And this is in the context of what happens when people from the West go elsewhere, particularly the East. Regardless, I apologize. If this seems like one of those soldiering gweilo stories in which some willful Western do adventures abroad and learns the local ways and uses them to gain the trust of the natives. And in turn, show them how it's really done, say, dispatching a malign princeling while saving a beautiful surf girl in the process. You know, fish in strange water ultimately enhances the water sort of tale. Well, I'm here to say that's not how it will go down. My presence did not fundamentally change anything anywhere, for better or worse. Was there a reason that you wanted to turn that typical story on its head? Something about the familiarity of that story that you thought It was time to interrogate or or or trash. Well, you know, we all know that story, of course, and it's essentially a colonial story, right? And I think I think we're all done with that story. On. What we want is, of course, to find out a little bit more about ourselves as we always do. Is peoples everywhere Do But the ways in which we get that story isn't as easy and simple as it's been told to us before. There's one section of this book that is drawn from history, which is the cultural revolution in China in the 19 sixties, and we see this period in time through the experience of a husband and wife, both painters. Whose lives are crushed by the rise of communism. How do you see that episode fitting into the contemporary globetrotting story of crime and capitalism that makes up the rest of this book? Well, that's the story of the background of the hero, the novel or at least killers here upon and I wanted to give some material to his life to show where, how far he'd come and his family had come. From those beginnings in Mao's China from being as he says, dirt on the heel of a shoe to being not an oligarch, but a plucky, irrepressible Really charismatic sort of guy who's still has great ambition in life and who still has great energy. I was drawn to that kind of person, you know, as an immigrant myself being established now for many years. I guess I don't have that same kind of verve anymore that say, my parent's generation did. I'd love to hear more about what interested you about the immigrant bootstraps success story in American capitalism here because the book juxtaposes An immigrant to the U. S. Who has worked his way up the ladder. Against this story of an American in another country who winds up in this situation of betrayal and terror. I mean, what were you hoping to illuminate through those two narratives? Well that the classic narrative of this driver eyes still there. That's what's really motoring this, you know, rampant capitalism that we're all subject to And that killer on the other end is the child of all that. Of course, that's why he's he has the ability to do the things that he does. That's why he has so much comfort and security. I wanted to point out, of course, that that at that other end, there are costs that there's a price to all our consumption and the globalization that's been happening. Chang Rae Lee, His newest novel is called My Year Abroad. Thank you for talking with us about it. Thanks so much, All right..
Houston's Big Oil Isn't So Big Anymore
"Me ma houston's oil and gas companies are looking for ways to recoup from one of the most challenging years on record energy reporter. Kyra luckily has been going over new financial reports at show billions of dollars in losses. One of most stunning reports is from exxon mobil which says it lost more than twenty billion dollars in the last quarter of twenty twenty. That's after exxon posted more than one billion in losses for the first three quarters and laid off over seven hundred houston workers mostly due to the pandemic other companies. Like conaco phillips. Halliburton are reporting hundreds of millions in losses for the fourth. Quarter
"exxon mobil" Discussed on Bloomberg Radio New York
"A day at Bloomberg, calm on the Bloomberg business app and a Bloomberg Quick Take This is Bloomberg Radio. On Bloomberg World. Hank Waters. I'm Charlie Paella. Turn up Tuesday Ground Hog Day with the Dow, The S and P. No stack all rally stocks on track for their biggest surge in three months as the trading frenzy that fueled a gain and heavily shorted sales shares lost momentum. Investors were also sifting through a batch of corporate earnings out of results after the closing bell from Giants Amazon and Alphabet Amazon shares right now off 1.8%. As for alphabet, parent of Google, also up by 1.8% as some pee right now up 1.8% higher by 66 points. The Dow very close to the best level of the day off sick, so too right now higher by 2% and NASDAQ up 224 for the NASDAQ composite index, that is the gain of 1.7% Tenders down 6 30 seconds. 10 Year Yield 1.1% and Gold Down 1.4% now Lower by $25. The ounce of 18 35, West Texas Intermediate crude up 2.2% 54 72 a barrel As for the CV a silver I shares et F It is trading lower today. Down now by 8.2%. The speculative trades popular with Reddick, crowds crumbled Gamestop, AMC entertainment tumbling. Silver pulling back from an eight year high. Gamestop shares have plunged. 47.5% AMC entertainment Now in $8 stock, it is down now by 39%. Chris present He is CEO of Grisanti Capital Management. Everyone for the last week has been talking about how the markets are broken. Because game stock has gone up 1000% and we need regulation and it seems to me the markets are working pretty well. Game stuff is coming back down to Earth. Nobody's done. Nothinto broker dealer has gone bankrupt ex cetera and people made her lost the money as capitalist dupe. Exxon Mobil has pledged to safeguard its mammoth dividend after posting its first annual loss and at least 40 years of show of defiance by an oil driller besieged by activist investors, lawmakers and climate change campaigners Exxon Mobil shares they're up now by 2.9%. BP is down 6.3% Oh, gee Resources up 4/10 of 1% Pioneer Natural up by 1.2% re capping stocks higher as compete. That's level of they now up, 67 points up 1.8%. 102 on Wall Street time now for the market drivers report with a focus on American depositary receipts, and here's Dave Wilson. Thanks, Charlie 80 years or higher, though not as much as US shares. The S and P A. D R Index is up 8/10 of a percent and he hasn't be five hundred's hired by 1.8%..
Stocks jump as GameStop craters
"News about your money was Sully brought to you by bay Alarm, Putting the pro in protection hater selling God, Ted stocks poised to extend gains Yeah, I was gonna say guys, but with eyes on vacation, and that's good. We're extending gains for the second day of trading. So 100% of the days in February now have positive days. Uh, for first talks. Investors are encouraged by the news and the pace of the vaccines in the U. S. The prospect of more fiscal aid from Congress, we gotta decline in the frenzy. Of Reddit Gamestop am seeing such and also a big Slater earnings reports in focus. We saw good earnings from Fizer and Exxon Mobil before the bell. Today, we're gonna see some mega cap stocks like Amazon and Google parent company Alphabet Reporting after the close, it's a big day for earnings with the latest Q four numbers from alphabet in Amazon. After the close, all 30 stocks in the Dow are up led by Chevron and UnitedHealthcare, and we're having a smoking day on the Tao up 575 points. That's 2%. That's on the Dow boy. I sure hope you guys on the exchange traded fund DEA or what they call the diamond. That's a basket of Dow stocks. That trades is one exchange traded funds, so it's actually really cool. I don't own it, but I wish I had Dow Jones up 576 30,078. There's S and P up. 62. That's 1.6% at 38 36. NASDAQ Up 1.5% another Great day on NASDAQ. On 87 there and 13 5 91 on I'll tell you what gold sinking badly today down almost 1.5% dropping 24 bucks announced down to 18 39, so fingers crossed it does come out of these traders are gonna come out. Okay, coming up
"exxon mobil" Discussed on NewsRadio KFBK
"You have friends in the car business. L grow four dot com. Built for proud traffic on the tens, every 10 minutes mornings and afternoons. Dana has news 93.1 kpk Tonight We'll see rain arriving in the late evening hours. Expect a low tonight 50 to 54. Couple of showers expected for tomorrow. Otherwise mostly cloudy skies tomorrow will see a high 58 to 62 Wednesday a few afternoon showers. Otherwise mostly cloudy skies Wednesday We'll see a high 53 to 57. Mac, you others. Drew Shannon News. 93.1 kfbk 66 in Sacramento, 64 in Folsom and L. Grove has 64 degrees. Business and Money News with Kate Pick a certified financial planner Kelly Brother's Big Day of earnings tomorrow as we have Visor and Exxon Mobil before the opening Bell, Amazon and Google after the closing bell, so very busy day indeed. This is a fairly busy week, as well with about 100 of the S and P 500 companies reporting their earnings today a little bit of a bounce back after a rough a week last week, worst week for many of the major averages since October, And of course, the Dow was down 600 points on Friday, but came back a little bit today. Our 2, 29 and 30,000 to 11 NASDAQ up 3 32 or 2.5% of 13 403, the S and P up. 60 points Gold down one in 18 62 Announced 10 year bond yield 1.8% are thanks to Kelly Brothers. They're coronavirus. Very latest virus Pandemic kfbk Afternoon.
CEOs of oil giants Exxon, Chevron discussed mega merger
"I'm gonna start with something that happened yesterday. A quiet snowy sunday here in the greater metropolitan washington dc area and it was lovely. It was nice to. It's nice to just look outside and see the snow falling in a place where snow doesn't fall very often and i was snapped back into reality at some point during the day when i looked at twitter and saw the news reported by the wall street journal and reuters that last year the ceos of exxon mobil and chevron discussed the possibility of their two companies merging and i wasn't around in one thousand nine hundred eleven when standard oil was broken up. But i've studied enough of my business history to know that well to inform. That was my first thought. We're getting the band back to like. Are they going to rename the company standard oil. I mean what did you think when you first saw this news. Well the first thing that came to mind was was rocket rockefeller and standard oil in time. Time certainly have changed since standard oil. Right i mean the world is slowly but surely evolving its energy policy. And it's it's clearly going towards renewables. Things like solar and wind and in batteries and further away from fossil fuels. I mean that's no secret. Now i mean i think the time line is such that it. It's gonna take a while to get there. I mean when you think about fueling the entire planet. It's not just it's not just cars right. I mean we're talking about all sorts of different all sorts of different All sorts of things that really need to be powered and so to me. I actually could see world war for this does make sense in part of it is because this this industry is one more scale really really counts. I mean it in. Furthermore you have to businesses here. That really aren't quote unquote lighting. The world on fire. Either i mean you look at exxon over the last five years shares are down about forty percent chevron i think relatively flat over that same time period and they they have just become smaller companies. They're just not the behemoths that they used to be in so to me. I mean i feel like this probably would have been a little bit more realistic. Had they done it or tried to do a year ago. I'm not sure it would really pass muster in this current political environment. I think the the scrutiny would probably be a little bit to create particularly is is the biden administration has really got fossil fuels the crosshairs but i mean i could see a world where this actually made
Exxon, Chevron CEOs Discussed Merger
"Have been the biggest merger in history. Had it happened. Reuters is reporting that the chief executives of Exxon Mobil and Chevron held preliminary talks early last year about combining the two companies, which are the two largest oil producers in the U. S. Those talks ended, But observers say the fact that they happened at all shows that the pressure that the energy The industry's most dominant companies are facing as crude prices plunged during the pandemic. The share prices of both companies stocks nose dive last year, one source telling Reuters that the talks were serious enough that legal documents were drafted. It's not clear why the talks ended when he uses brought to you by General Dynamics I t
Baltimore Is Suing Big Oil Over Climate Change
"Okay sue. you said that the lawsuit that went before the supreme court this week was brought by city of baltimore. Yep and there are more than twenty of these lawsuits. They're all alleging various versions of the same thing that climate change is causing damage in the city or the state or the county and that oil and gas companies are partially responsible. And the baltimore case just happens to be the one that made it the supreme court. So we'll focus on that one also very convenient because you live in baltimore. Indeed i do definitely makes it easier for this reporting so what specifically does the baltimore lawsuit allege so this lawsuit alleges that a long list of big fossil company isn't that includes exxon mobil shell. Bp chevron misled the public about the dangers of burning fossil fuels and that those companies have to help the city pay for the cost of climate change so the lawsuit lays out how global warming is causing damage in the city. And how that's expensive for the city. Government like heat waves for example. They're expensive or flooding like the flooding from climate driven extreme. Yeah and flooding from ceelo arise. So let's start there because that's actually the simpler one sea levels on the east coast of the us arising more quickly than the global average streets sometimes flood during high tide. When there's a storm water ends up in buildings which is obviously not good And when you look to the future. The city estimates that the amount of baltimore's port area that will flood frequently will increase by almost one hundred fifty percent in the next thirty years. Well a hundred fifty percent becky. that is intense. That is a lot of flooding. Yeah it's super serious. And i have to imagine that it's going to be really expensive to retrofit baltimore to be able to deal with what's coming. Yeah totally and you know. Climate change isn't just a future cost right. Cds are already racking up millions of dollars in infrastructure costs and understand why you have to remember that. A lot of cities were built a long time ago and they weren't designed for
"exxon mobil" Discussed on Bloomberg Radio New York
"Be talking in a moment with Seema Shar director off consumer in retail trends at credit Intel on them in over a week, a conversation with Masters in business host Barry Riddles about the markets for us. Let's get a Bloomberg business last from great, generous All three major indices Vanni or down just about 1% stature declining in the U. S. But earlier they declined in Europe and Asia. All of this is President elect Joe Biden's much anticipated $1.9 trillion Copan 19 relief fan. Man is coming under the microscope. Gerard Cassidy, RBC Capital Markets, head of U. S Bank equity Strategy tells Bloomberg. What we're seeing here is by the rumor. But sell the news is, you know the bank stocks near today at the beginning of January have really outperformed. The market is all by over 12 close to 12% points, So I think this is some classic profit. Taking the outlook, though, remains, I think very positive from the banks from what we saw today. Particularly on credit, which has been the biggest issue. For investors of the last 12 months with the bank stocks Let's check the markets, the S and P is down 9/10 of a percent down down 34. The Dow's down 9/10 of a percent down 290. The NASDAQ is down 8/10 of a percent down 107. 10 Years up 10 30 seconds, with a yield of 1.1%, West Texas intermediate crude Is in the red by 2.7% of 52 12 a barrel comics goals down 1% 18 32 80 an ounce Valerie and one of 3 70 €80.2086 in the British grab a dollar 35 91 Wall Street Journal quotes sources as saying. The Securities and Exchange Commission has launched an investigation of Exxon Mobil after employees filed a whistle blower complaint last fall, alleging the energy giant overvalued one of its most important oil and gas properties in the Permian Basin, The Wall Street Journal. Has made this report and Exxon Mobil is down 5.5%. That's a Bloomberg business Flash. I'm great, Jerry. This is Bloomberg markets with Paul Sweeney and Bunny Quinn on Bloomberg radio. Retail sales. We've got some.
"exxon mobil" Discussed on KLIF 570 AM
"Right, Um, for the indexes in part of that's based on Tesla's and even Salesforce right sales force. Is, you know, we we used their product, a derivative of it in programming, you know, to keep track of everybody and a secure way. But right now sales force You know 50 times earnings. There's about the about where we stand, but their earnings are projected to drop 24% next year. And you're paying 48 times trailing earnings. That's gonna price in March should okay, not a recommendation. But I'm just saying they put it in the Dow. Oh, yeah. Yeah. If I buy the Dow wanna buy reasonably priced value stocks is kind of the doubt What you think you're getting? Ah, but ah, that replaced 18 t. I believe all right. Or Exxon Mobil. Here we go. All right. There. Go ahead. Stocks outperform cash, but cash at performs Treasury bonds first time since 2013 Okay. Back to our 2013 example. Number six value Small and non U. S stocks, especially E m outperform Growth Big and US docks. Okay. We got some research to do on that one. Yeah. Yep. Non China. I'm going to say non China. Yeah, but E m okay. Healthcare in financials outperform energy and utilities. Okay, alright, Healthcare we get you know the healthcare allocation student find its steady and impressive 33 and a third percent this week. For the health care the dividend company's huge growth rates, most undervalued growth sector in the S and P. In my opinion, um and then energy waking up because tax loss selling ended the January factors in our body cells stuff that's down out of favor. And energy woke up this week in a huge way, which is e Think, telegraphing. I think low low p ease with growth rates or huge cash flow. Yeah, that's that's the place to be. Um, number eight U. S. Federal debt rises to more than 100 Center.
Trump Rule Allows Natural Gas Transport By Rail In Dense Areas
"The us produces so much shale gas it needs to find new markets overseas. The trump administration has approved moving a liquefied form of the gas by rail. But some say that is too dangerous. Susan phillips of member station. whyy reports on a route. That would be one of the longest in the country. The guests will go first to a new plant in northeast. pennsylvania where refrigeration units will chill it too negative two hundred and sixty degrees fahrenheit. That's how it goes from a guest to a liquid. The part of the plan that scares a lot of people is the transport two hundred miles by truck or rail through some of the most densely populated areas of the east coast to a planned export terminal in new jersey. Vanessa keegan lives nearby with her family including three year old. Theo thank you want to take a picture. Okay you gotta get mommy ipad. We take another picture right. Era go railcars. Full of highly flammable liquefied natural gas or lng would roll about a block and a half away from keegan's home a daycare center sits right at the company gate so they want special permits to transport them right there. That train track. You could skip on down to in about a minute and a half and that terrifies me. This project is part of a larger push to export natural gas last summer. The trump administration changed long-standing federal policy to allow rail transport of ellen g anywhere in the country fifteen states including pennsylvania and new jersey challenged the move saying it puts people's lives at risk in this rust belt reason of new jersey. The export project does have support from building trade unions and powerful state lawmakers including assemblyman. John bursa kelly. He says grandfather worked at a former dupont plant on the site of the planned export terminal. That's will create jobs as it once did contribute to tax base as wants to be an important economic driver for people to make a living in fear families. I says safety issues should be raised and addressed but he says railcars carry much more hazardous materials through the region every day. Ray mentzer is a chemical engineer at purdue university who spent his career on ellen g projects for exxon mobil he says specially designed containers have a good safety record but he says transporting the guests through densely populated areas increases the risk if there's a leak. It's not flammable until it's vaporized but it's going to bait rise pretty damn quickly and then it's going to seek an ignition source. Believe me it will find an ignition source. Pretty darn readily mentor says. A vapor cloud would definitely catch fire. If i was at a town meeting and i lived there i would want to know. Just what routes are you going to us right now. The exact roots are unclear. Multiple attempts to reach the developers of the project. New fortress energy went on answered if the overseas export terminal gets built. None of the guests will go to power new jersey homes instead the state is planning a large coastal wind farm off atlantic city to help new jersey reach the goal of all clean energy by twenty fifty
ExxonMobil racks up a third straight loss as pandemic dents demand
"Mobil reported its third consecutive quarter of losses as the global pandemic curtails, traveling cripples global economic activity. Energy giant on Friday Post of a $680 million third quarter loss and revenue tumbled $46.2 billion string of losses and what could be a money losing years. New territory for Exxon Mobil. We
Exxon, Chevron lose $887 million as pandemic pain continues
"As much in the pandemic that has crushed demand for gasoline and jet fuel. Exxon Mobil laws $680 million in the summer order CEO Darrin would says the company's been cutting costs. Exxon is cutting 1900 jobs from its US were forced Chevron lost $207 million in the quarter. Chevron is also eliminating positions. Oil demands expected to Decline 8% this year. Colgate Palmolive
Exxon Mobil planning on laying off hundreds in Houston
"Planning to hand out 1900 pink slips. Most will be here in Houston, with the global workforce likely cut by 15%, The oil and gas giant blames the lay offs on the pandemic, saying they're necessary to stay competitive. More news on demand. Akita Rich dotcom are next update at six o'clock. I'm Wyatt Goolsbee for news radio. 7 40 h If you think we're just four
US Election Could Be Decided By Just 4 Or 5 Key Swing Corporations
"Across country will head to the polls next week to cast their ballots and decide who will serve as our nation's president for the next four years. But as we learned in 2016, it isn't winning the popular vote that matters. In fact many Palm experts today believe that the 2020 election is most likely to be decided by just four or five key swing corporations Donald Trump and Joe Biden are expected to spend the better part of this week touring the swing Corporation extensively and hopes to win over their support before election day given how close this races wouldn't be surprised if the whole thing came down to one undecided executive at Exxon Mobil and
Dallas-Based Exxon Denies President Trump Called CEO For Money
"Needs. Exxon Mobil is making sure people know President Trump has not asked their CEO for money KFBK Sarah Bartlett has the story. The Texas based energy giant says it's aware of a comment made by the president at an Arizona rally, where he claimed that he could get every major company head to give money to his campaign. If he wanted Teo. He used Exxon Mobil as an example, the company says no such talk has ever happened, according to the Dallas Morning News. ExxonMobil's corporate pack has not given cash to any presidential can It it this election cycle. Sarah Bartlett News 93.1
Exxon clarifies Trump phone call: 'It never happened'
"President Trump's remarks, raising some eyebrows at a corporate headquarters in the state of Texas this after last night's rally in Arizona, we explain with ABC is Jim Ryan over in Dallas reporting at a campaign rally in Prescott, Arizona, President Trump offered up a remarkably specific hypothetical I call the head of Exxon. I see. You know, I'd love to send me $25 million for the campaign. Absolutely certain. Why didn't yes. Would you like some more, adding that I would raise a billion dollars in one day if I want Which would be a clear violation of federal election laws. A short time later, Exxon Mobil tweeted quote. We are aware of the president's statement regarding a hypothetical call with our CEO, and just so we're all clear. It never happened. Jim really in ABC News, Dallas
In Seismic Shakeup, Dow Replaces Exxon Mobil with Salesforce
"We'll talk about an exclusive club the only members allowed into the Dow, Jones Industrial? Average. Are The thirty most stalwart icons of the American economy names like Home Depot Microsoft McDonald's Johnson and Johnson Caterpillar Goldman Sachs and until next Monday. Exxon Mobil. That's right. The Dow is throwing Exxon out not long ago such a move would have been unthinkable. The multibillion dollar oil company is the longest standing member of the Dow. It was first listed in October of nineteen. Twenty eight. The. Dow's leaders announced their choice to boot Exxon late, Monday the move is so remarkable that Bloomberg called it a stunning fall from grace for the giant oil company. Is Twenty Thirteen Exxon Mobil was the world's largest publicly traded company according to CNBC. But now in the flash of time that has been the Kobe pandemic traditional oil companies have fallen out of favor as oil revenues and profits. Sink investors are spurning energy businesses. As we've reported here. Recently, Exxon has been foundering as the green economy becomes more and more important to global consumers. Bloomberg reports that exodus is now valued at only one, hundred, eighty, billion dollars A. Drop of forty percent just since New Year's and even more sense it's half a trillion dollar valuation in two thousand seven. You could say Exxon's worth is plunged as deep as one of its offshore drills like whack-a-mole when a company is pushed off the Dow, another one jumps up to replace it. In this case the Dow kicked out three businesses, Exxon? Mobil pharmaceutical company Pfizer and Raytheon. Technologies like Exxon Raytheon is also a dow old timer it was first. Listed in nineteen, thirty, nine, swapping into those slots are salesforce dot COM tech company specializing in customer relationship management. The Dow also added Biotech Company Amgen and industrial conglomerate Honeywell International. This is the Dow's biggest shakeup in seven years, not surprisingly the share prices of the three companies joining the Dow was Tuesday for the three kicked off the island. Well, you guessed it share prices fell. There's a much bigger strategy here than simply reflecting Exxon's ill fortunes the Dow. Index of American blue chip stocks was invented by Charles Dow and ninety four, two years later down his partner Edward Jones surely you know that name publish their first list of a dozen blue chip stocks ever since the Dow has served as a benchmark the standard intended to measure the strength or weakness of the US. Stock Market for that reason, it's leaders sometimes shuffled membership in the Dow to reflect the changing makeup in value of the entire stock market. And for that matter, the entire American economy