Mike Johnson reelected as House speaker. The vote was...
Mike Johnson reelected as House speaker. The vote was a nailbiter, but ultimately Johnson, who had the backing of President-elect Donald Trump, won over enough of his Republican colleagues to hang onto his gavel. With Democrats voting for their own leader, Hakeem Jeffries, and the GOP’s narrow 219-215 House majority, Johnson could only afford to lose one vote from his own party—and several from the party’s right flank appeared to be holding out before the vote. But Johnson won on the first ballot after convincing two Republicans who had opposed him to switch their votes so that multiple rounds of voting were not required.
The FCC’s net neutrality rules, which required internet providers to deliver all websites at the same speed, were struck down by a federal appeals court.
President Biden plans to ban offshore oil and gas drilling in some areas by invoking a 1953 law that would require the incoming Trump administration to get Congress to reverse it in order to allow drilling there.
South Korean police failed in their efforts to arrest the nation’s former president, who has refused to submit to questioning over his imposition of martial law. The arrest attempt was thwarted by protesters and the ex-leader’s security staff in an hourslong standoff.
GM and Ford reported their best annual sales of new vehicles in the US since 2019 when the pandemic and a resulting drag on auto supply chains began, per CNBC.
Apple agreed to pay $95 million to settle a lawsuit claiming Siri eavesdropped on iPhone users even if they never uttered the phrase “Hey, Siri.”
Oil heads for weekly gains on colder weather, Chinese policy support
OIL prices rose on Friday (Jan 3), closing the week higher...
OIL prices rose on Friday (Jan 3), closing the week higher on the back of cold weather in Europe and the US as well as additional economic stimulus flagged by China.
Brent crude futuressettled higher by 58 cents at $76.51 a barrel, the highest level since Oct 14. US West Texas Intermediate crudesettled up 83 cents to US$73.96, the highest level since Oct 11.
Brent notched a 2.4 per cent weekly gain, while WTI climbed nearly 5 per cent.
Signs of Chinese economic fragility heightened expectations of policy measures to boost growth in the world’s top oil importer.
“China just is unceasing at this point in terms of their announcements about trying to stoke economic activity, and the market’s taking note of that,” said John Kilduff, partner at Again Capital in New York.
U.S. stocks close higher Friday but S&P 500 still down for the week
The U.S. stock market rebounded Friday, but the rally...
The U.S. stock market rebounded Friday, but the rally failed to land the major indexes in positive territory for the week after a rough transition into 2025.
The Dow Jones Industrial Average gained 0.8% on Friday, while the S&P 500 rose a sharp 1.3% and the technology-heavy Nasdaq Composite jumped 1.8%, according to preliminary data from FactSet. The S&P 500 finished the holiday-shortened week without a so-called Santa Claus rally.
For the week, the S&P 500 fell 0.5%, the Dow retreated 0.6% and the Nasdaq fell 0.5%, according to the preliminary FactSet data. Next week, investors will be paying close attention to the U.S. jobs report due out on Jan. 10.
Startup 360 Energy converts surplus natural gas into electricity for...
Startup 360 Energy converts surplus natural gas into electricity for bitcoin mining by pairing gas generators with on-site data centers housed in shipping containers, reducing both flaring and emissions in the process. The company has 12 operational mines in Texas and has recently partnered with Halliburton Labs to power its expansion.
Pembina Closes $290MM Deal for Stake in Whitecap’s NatGas Facility
Pembina Gas Infrastructure (PGI), a Canadian firm partially owned by...
Pembina Gas Infrastructure (PGI), a Canadian firm partially owned by Pembina Pipeline Corp. and KKR, closed a CA$420 million deal with Whitecap Resources for a 50% ownership stake in the Kaybob Complex, a gas processing facility in Alberta. The agreement, effective December 31, 2024, also includes Whitecap committing to a long-term take-or-pay contract for processing capacity at the facility, which has a gas processing capability of 165 MMcf/d and a condensate stabilization capacity of 15,000 bbl/d.
Additionally, the deal supports future infrastructure development by PGI in the Lator area, where PGI will also own CA$400 million worth of new infrastructure, including battery and gathering pipelines, expected to have a capacity of 150 mmcf/d and to be operational by early 2027.
Whitecap plans to use the proceeds from the sale to reduce its net debt below $1 billion.
