Business and Finance

Exxon CEO says Venezuela needs to transition to democracy for oil investment

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Exxon Mobil CEO Darren Woods said Friday that Venezuela needs to transition to democracy in order for investment in the South American nation’s dilapidated oil industry to make sense. President Donald Trump is pressuring oil companies to invest at least $100 billion in Venezuela to rebuild the country’s oil industry after the U.S. captured former […]

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Microsoft stock is flat the day after sinking 10%. Here’s why

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Microsoft’s stock was largely flat on Friday, after the stock saw its biggest daily decline since 2020, sliding 10% Thursday after it reported earnings. Shares fell despite the company’s second-quarter earnings beating analyst revenue expectations. Like other hyperscalers, Microsoft has invested huge sums in its AI infrastructure buildout. But Meta reported huge AI spending on

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Chevron CEO says Venezuela taking positive steps to protect oil investment

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Chevron CEO Mike Wirth said Friday that Venezuela has taken positive steps to protect investment by private oil companies since the Trump administration captured former President Nicolás Maduro. Venezuela on Thursday passed reforms to its hydrocarbon law that ease state control of the oil industry and grants private producers more autonomy. Wirth said Chevron is

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Amazon asks FCC to extend satellite limit as it buys more SpaceX rides

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A United Launch Alliance Atlas V rocket is on the launch pad carrying Amazon’s Project Kuiper internet network satellites, which are expected to eventually rival Elon Musk’s Starlink system, at the Cape Canaveral Space Force Station in Cape Canaveral, Florida, on April 9, 2025. Steve Nesius | Reuters Amazon has asked the Federal Communications Commission

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Former Google engineer found guilty of espionage and theft of AI tech

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The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York, Nov. 17, 2021. Andrew Kelly | Reuters A federal jury in San Francisco on Thursday convicted a former Google software engineer of stealing trade secrets related to the search company’s AI technology. The jury found 38 year-old Linwei Ding,

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Sandisk stock soars after blowout earnings report reflects AI demand

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Sandisk‘s stock popped nearly 7% after the company crushed Wall Street’s fiscal second-quarter estimates, as the artificial intelligence boom sent demand for its chips skyrocketing. The flash storage memory company reported earnings of $6.20 per share, excluding items, blowing past the $3.62 per share expected by analysts surveyed by FactSet. Revenue totaled $3.03 billion, topping

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Eli Lilly CEO David Ricks talks Medicare coverage of obesity pills

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Eli Lilly CEO Dave Ricks on Friday said upcoming Medicare coverage of obesity drugs could be a major catalyst for the rollout of the company’s closely watched experimental weight loss pill, orforglipron. In an exclusive interview with CNBC, Ricks said Lilly expects to have Medicare coverage for the treatment “immediately following that launch, and that

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GameStop CEO Ryan Cohen targets consumer mega deal

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GameStop wants to acquire a publicly traded consumer company that’s far larger than the video game retailer in a deal that could be “transformational” for the company, CEO Ryan Cohen told CNBC in an interview Friday. “It’s gonna be really big. Really big. Very, very, very big,” Cohen said of the size of the acquisition.

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American Express wants even more credit card high spenders

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American Express announces the new platinum business card. Courtesy: American Express American Express is finding that even for a provider of credit cards to the affluent, it pays to focus on the highest of high rollers. The company recently shifted marketing dollars to its refreshed Platinum card, which carries an $895 annual fee, and away

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