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• European defense giants are joining forces to take on Elon Musk in space
  Airbus, Leonardo, and Thales are combining their space businesses into...
  Airbus, Leonardo, and Thales are combining their space businesses into a single company in a move that could create a European alternative to Musk’s SpaceX. Airbus will be the majority owner with a 35% stake, the companies said, and the joint venture will employ 25,000 people across Europe. French President Emmanuel Macron and others have championed the idea of a European satellite competitor that could be a substitute for SpaceX’s Starlink system. One expert told CNBC that it’s “the first tangible evidence of Europe addressing its waning technological sovereignty.”
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• ☕️What Else is Brewing Friday Morning
  Apple reportedly cutting iPhone Air production due to low demand. The...
  Apple reportedly cutting iPhone Air production due to low demand. The iPhone Air could be on its way to “RIP 2025–2025” meme status. Apple is telling supply partners to slash production of the skinny iPhone after it posted weak sales in its first few weeks on the market, Nikkei Asia reported. The other models in the new iPhone 17 lineup are reportedly selling well, and Apple plans to maintain its current production estimates. The Air has been criticized by techies for its relatively low battery life and single camera, though some have applauded its light weight. Experts say it could serve as the forerunner to the oft-rumored foldable iPhone.
  
  President Trump will meet Chinese leader Xi Jinping at the Asia-Pacific Economic Cooperation summit in South Korea next week, the White House said.
  
  The US National Guard will not yet deploy to San Francisco after President Trump said he received calls from Nvidia CEO Jensen Huang and Salesforce CEO Marc Benioff asking him to hold off.
  
  Rivian laid off more than 600 workers following the rollback of EV-friendly policies, an action that’s expected to hurt electric automakers.
  
  Vladimir Kramnik, a Russian chess grandmaster, could face disciplinary action after he made unproven cheating allegations against American grandmaster Daniel Naroditsky, who died this week at the age of 29.
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• US grid investments surge in response to rising demand
  US grid investments are projected to jump 23% between 2025 and 2030 as...
  US grid investments are projected to jump 23% between 2025 and 2030 as utilities and private investors respond to surging power demand. The rise follows a 27% increase from 2020 to 2025. Key drivers include the rapid growth of data centers, new manufacturing facilities and broader electrification. Companies like Avangrid and PG&E are leading the charge with multi-billion-dollar commitments, while federal policies under both Biden and Trump administrations have shaped the pace and focus of grid modernization.
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• Weak oil prices weighed on Q3 US upstream O&G dealmaking
  US upstream oil and natural gas mergers and acquisitions fell 28% sequentially...
  US upstream oil and natural gas mergers and acquisitions fell 28% sequentially to $9.7 billion in the third quarter, according to Enverus, which attributed the decline to an unfavorable price environment. "Most remaining shale M&A opportunities need stronger pricing to justify public companies paying for the undeveloped locations," said Enverus analyst Andrew Dittmar. However, natural gas properties drew renewed interest amid surging demand from LNG exports and AI data centers, though buyers are increasingly looking beyond the high-priced Haynesville Shale for opportunities.
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• DAILY OIL PRICE: October 23, 2025
  Crude Oil: 61.79   (+3.29). Nymex MTD AVG: 59.6196....
  
  
  • Crude Oil: 61.79   (+3.29).
  
  
  • Nymex MTD AVG: 59.6196.
  
  
  • Natural Gas: 3.344   (-0.106).
  
  
  • Gasoline: 1.9269   (+0.0619).
  
  
  • Spreads: December/January (+0.63)     January/February (+0.52).
  
  
  • Plains WTI Posting: 58.27   (+3.29).
  
  

  
  Source: Odessa American
  
  
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