An 8.8-magnitude earthquake hit Russia, prompting widespread...
An 8.8-magnitude earthquake hit Russia, prompting widespread tsunami warnings. The quake, one of the four largest of the 21st century, struck Russia’s Far East early Wednesday, triggering tsunami waves that impacted Russia, Japan, and Hawaii. No major damage has been reported thus far. Hawaii Gov. Josh Green said he was monitoring wave activity near the Big Island before he would lift emergency precautions, but that he expected to declare “all clear” in a few hours, according to the New York Times. Tsunami waves also reached the coasts of California, Oregon, and Washington. The National Oceanic and Atmospheric Administration issued a tsunami threat alert for Papua New Guinea, Solomon Islands, and Vanuatu, urging US citizens there to be prepared to evacuate. The National Tsunami Warning Center in Alaska told the Associated Press that tsunami impacts could last for hours or up to a day in some places.
The US and China agreed to continue their tariff truce talks following the latest round of trade negotiations in Stockholm, Bloomberg reported.
UK Prime Minister Keir Starmer said the country will recognize a Palestinian state unless Israel agrees to a Gaza ceasefire by September, a move that Israel called “a reward for Hamas.”
Apple closed a retail store in China for the first time, even as it looks to mount a comeback in the market, where sales have floundered.
JPMorgan Chase is nearing a deal to replace Goldman Sachs as Apple’s credit card partner, the Wall Street Journal reported.
Starbucks same-store sales fell for the sixth straight quarter, though CEO Brian Niccol said the company’s turnaround is ahead of schedule.
Oil prices rally on US pressure on Russia, trade deal optimism
(Reuters) - Oil prices gained more than 3% on Tuesday...
(Reuters) - Oil prices gained more than 3% on Tuesday as President Donald Trump ramped up pressure on Russia over its war in Ukraine and on optimism that a trade war between the U.S. and its major trading partners was abating.
Brent crude futures settled $2.47, higher at $72.51 a barrel, while U.S. West Texas Intermediate crude gained $2.50, or 3.75%, to settle up at $69.21. Both contracts settled at their highest since June 20.
On Tuesday, Trump said he would start imposing tariffs and other measures on Russia "10 days from today" if Moscow did not make progress toward ending the war in Ukraine.
"We've amped it up. We have a hard deadline of 10 days," said Phil Flynn, senior analyst with Price Futures Group. "And there's a suggestion that other countries are going to join us."
Also on Tuesday, U.S. Treasury Secretary Scott Bessent said he had told Chinese officials that, given U.S. secondary tariff legislation on sanctioned Russian oil, China could face high tariffs if Beijing continued its Russian oil purchases.
S&P 500, Nasdaq snap win streaks as stocks finish lower ahead of Fed decision
U.S. stocks finished lower on Tuesday, with the S&P...
U.S. stocks finished lower on Tuesday, with the S&P 500 and Nasdaq Composite both snapping winning streaks ahead of a pivotal day on Wall Street that will feature the Federal Reserve's interest-rate decision, second-quarter GDP data and key earnings reports from megacap technology firms.
The S&P 500 was off 18.91 points, or 0.3% to end at 6,370.86. The large-cap index snapped its six-day winning streak, according to FactSet data.
The Nasdaq Composite fell 80.29 points, or nearly 0.4% to finish at 21,098.29, ending its four-session winning streak.
The Dow Jones Industrial Average dropped 204.57 points, or nearly 0.5%, ending at 44,632.99.
Earlier in the day, U.S. and Chinese negotiators concluded their latest round of trade talks in Stockholm aimed at extending a tariff truce that is set to expire in mid-August.
But later on, Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer said they would report back to President Donald Trump, who will make the final decision on an extension of the truce.
GeoSouthern, Williams Market Haynesville Gas Assets
Private producer GeoSouthern Energy Corp. is taking bids for its Haynesville...
Private producer GeoSouthern Energy Corp. is taking bids for its Haynesville natural gas assets, three sources told Hart Energy.
GEP Haynesville II, a joint venture (JV) between GeoSouthern Energy and Williams Cos., operates around 50,000 net acres in Louisiana’s Haynesville Shale.
Analysts estimate GEP Haynesville II’s coveted acreage could fetch between $1.2 billion to $1.5 billion through a potential sale.
GeoSouthern owns 75% of the acreage, primarily in De Soto and Sabine parishes, Louisiana. Midstream company Williams Cos. owns a 25% non-operated stake, investor filings show.
The two companies formed a JV in August 2021 to develop the acreage, which was prospective for the Haynesville and Middle Bossier shale formations. The undeveloped properties were transferred to Williams as part of Chesapeake Energy’s bankruptcy and restructuring process.
During a wide-ranging discussion with UK Prime Minister...
During a wide-ranging discussion withUK Prime Minister Keir Starmer, President Trump said he’d likely impose a 15% or 20% blanket tariff on imports from countries that have not reached new trade deals with the US, which is higher than the 10% that he announced in April. Trump also said he was “very disappointed” in Russian President Vladimir Putin and that he would give Russia 10 to 12 more days to negotiate a ceasefire with Ukraine or the US would hit Russia’s trading partners with tariffs, shortening a previous 50-day deadline. The president also called for the US to get more involved in providing humanitarian aid to Palestinians in Gaza, saying the US would “set up food centers” and asserting that there is “real starvation,” in contradiction to a denial from Israel’s prime minister.
