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Chevron buys Hess for $53 billion, 2nd buyout among major producers this month as oil prices surge

Published Tue, 25 Feb 2025 14:03:41 GMT

NEW YORK (AP) — Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge.The Chevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion. Crude prices are up 9% this year and have been hovering around $90 per barrel for about two months. Chevron said Monday that the acquisition of Hess adds a major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota. Chevron is paying for Hess with stock. Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. Including debt, Chevron valued the deal at $60 billion. Chevron said the deal will help to increase the amount of cash given back to shareholders. The company anticipates that in January it will be able to recommend boosting its first-quarter dividend by 8% to $1.63. This would still need ...

UAW’s confrontational leader makes gains in strike talks, but some wonder: Has he reached too far?

Published Tue, 25 Feb 2025 14:03:41 GMT

WAYNE, Mich. (AP) — Throughout its 5-week-old strikes against Detroit’s automakers, the United Auto Workers union has cast an emphatically combative stance, reflecting the style of its pugnacious leader, Shawn Fain.Armed with a list of what even Fain has called “audacious” demands for better pay and benefits, the UAW leader has embodied the exasperation of workers who say they’ve struggled for years while the automakers have enjoyed billions in profits. Yet as the strikes have dragged on, analysts and even some striking workers have begun to raise a pivotal question: Does Fain have an endgame to bring the strikes to a close?People with personal ties to Fain say his approach, on the picket lines and at the bargaining table, reflects the bluntly straightforward manner he developed as he rose through the union’s ranks. He is, they say, the right man for the moment. Others, though, say they worry that Fain set such high expectations for what he can extract from the companies...

Biden names technology hubs for 32 states and Puerto Rico to help the industry and create jobs

Published Tue, 25 Feb 2025 14:03:41 GMT

REHOBOTH BEACH, Del. (AP) — The Biden administration is designating 31 technology hubs touching 32 states and Puerto Rico to help spur innovation and create jobs in the industries that are concentrated in these areas.President Joe Biden is set to announce the hubs on Monday at the White House with Commerce Secretary Gina Raimondo. “I have to say, in my entire career in public service, I have never seen as much interest in any initiative than this one,” Raimondo told reporters during a Sunday conference call to preview the announcement. Her department received 400 applications, she said. “No matter where I go or who I meet with — CEOs, governors, senators, congresspeople, university presidents — everyone wants to tell me about their application and how excited they are,” said Raimondo.The tech hubs are the result of a process Raimondo’s department launched in May to distribute a total of $500 million in grants to cities.The $500 million came from a $10 billion authorizati...

IRS crackdown on wealthy taxpayers brings in $160 million in back taxes

Published Tue, 25 Feb 2025 14:03:41 GMT

(The Hill) - The Internal Revenue Service (IRS) has brought in $160 million in back taxes from wealthy taxpayers, amid a recent push to crack down on top income earners.The agency said Friday that it had collected $122 million from 100 taxpayers, on top of the $38 million it collected from more than 175 high-income earners earlier this year. The 100 taxpayers resulting in the latest haul are just a portion of the 1,600 individuals that the IRS is currently contacting for hundreds of millions of dollars in back taxes, according to the agency. In one case, an individual was ordered to pay more than $15 million for falsifying personal expenses — including the construction of a 51,000-square-foot mansion, luxury cars, artwork, country club memberships and homes for his children — as deductible business expenses.Another person was sentenced to more than four years in prison for fraudulently obtaining $5 million in COVID relief loans that he used to purchase multiple luxury cars...

Trump claims Sidney Powell was 'never' his attorney following lawyer's Georgia plea deal

Published Tue, 25 Feb 2025 14:03:41 GMT

(The Hill) - Former President Trump claimed Sunday that Sidney Powell was “never” his attorney, just days after Powell took a plea deal in the Georgia election interference case. “Despite the Fake News reports to the contrary, and without even reaching out to ask the Trump Campaign, MS. POWELL WAS NOT MY ATTORNEY, AND NEVER WAS. In fact, she would have been conflicted,” the former president said in a Truth Social post. Trump reiterated false claims that he won the 2020 presidential election and said that while Powell was not his attorney, she was "one of millions and millions of people who thought, and in ever increasing numbers still" think so, as well. The former president praised Powell, though, for her representation of former national security adviser Michael Flynn in 2019 following special counsel Robert Mueller's probe into the 2016 presidential election.“Ms. Powell did a valiant job of representing a very unfairly treated and governmentally abused General Mike...

Low fuel supplies for Gaza's hospital generators put premature babies in incubators at risk

Published Tue, 25 Feb 2025 14:03:41 GMT

DEIR AL BALAH, Gaza Strip (AP) — A premature baby squirms inside a glass incubator in the neonatal ward of al-Aqsa Hospital in the central Gaza Strip. He cries out as intravenous lines are connected to his tiny body. A ventilator helps him breathe as a catheter delivers medication and monitors flash his fragile vital signs.His life hinges on the constant flow of electricity, which is in danger of running out imminently unless the hospital can get more fuel for its generators. Once the generators stop, hospital director Iyad Abu Zahar fears that the babies in the ward, unable to breathe on their own, will perish.“The responsibility on us is huge,” he said.Doctors treating premature babies across Gaza are grappling with similar fears. At least 130 premature babies are at “grave risk” across six neonatal units, aid workers said. The dangerous fuel shortages are caused by the Israeli blockade of Gaza, which started — along with airstrikes — after Hamas militants attacked Israeli towns o...

The rain has started

Published Tue, 25 Feb 2025 14:03:41 GMT

AUSTIN (KXAN) -- Showers and thunderstorms moved into Caldwell and Hays Counties before 4:30 this morning. There was also light rain on the west side of Mason County. These are the first showers and thunderstorms that will affect Central Texas this week.Moisture from former Hurricane Norma has been moving into our area to combine with surface moisture from the Gulf to saturate the atmosphere. This morning's map also shows an upper-level low over California that will move to the Baja Peninsula then head to Texas. This will keep rain/thunderstorms chances from tomorrow into the weekend.Updated projected rain totals Most of the thunderstorms will remain below severe criteria but the Storm Prediction Center does have Gillespie, Llano, Mason, and San Saba Counties in a Marginal Risk for severe storms on Wednesday.Most thunderstorms should remain below severe limitsThe Weather Prediction has Mason and San Saba Counties under a Marginal Risk for flash flooding on Wednesday.Marginal flash f...

Largest infrastructure project in Cottage Grove’s history will remove ‘forever chemicals’ from water supply

Published Tue, 25 Feb 2025 14:03:41 GMT

The city of Cottage Grove recently broke ground on its largest infrastructure project to date: a $39 million low-zone water-treatment plant at the intersection of 110th Street and Ideal Avenue.The new plant, which includes a new city well, will treat all the water in the city south of U.S. Highway 61, said Ryan Burfeind, the city’s public works director. It is expected to be operational by June 2025.The new well will replace two wells contaminated with per- and polyfluoroalkyl (PFAS) “that are far removed from the main treatment plant,” Burfeind said. “It’s actually cheaper to drill a new well as opposed to laying miles and miles of pipe.”The money for the construction of the plant is coming from the city’s share of the $850 million settlement reached in 2018 between the state of Minnesota and 3M Co., the company that made the PFAS substances that have leaked into water supplies across the metro area and worldwide.The groundbreaking “signaled the start of the permanent solution, lon...

Ask Amy: Israel-Hamas war hits very close to home

Published Tue, 25 Feb 2025 14:03:41 GMT

Dear Amy: My husband and I are Israeli-American.We live in the United States and have one child — an infant.Before children, we agreed on a three-child minimum, but now that we have our baby, I feel very strongly about being a one-child family. My husband still wants to have more children.We agreed we’d table the discussion for later and if we did have more kids, we would wait for several years.With the war breaking out, he decided that he wants to go back to Israel to fight.I’m against it. I am estranged from my family and have a job that moves me every couple of years, so I have no support system if he dies.I told him I would promise him another child quickly if he stays home. I mean it.I would rather keep my family whole and sacrifice myself for another baby than sacrifice him and have my family ripped apart.I know I wouldn’t regret the baby once it’s here. But I feel selfish for keeping him home and I also feel manipulative for putting an offer he c...

Key figures on European living conditions – 2023 edition

Published Tue, 25 Feb 2025 14:03:41 GMT

Do you know how many people in the EU were at risk of poverty or social exclusion in 2022? Have you wondered about the distribution of income among different countries, among households, sex and age groups? Can you guess how many people in the EU perceive their health as good?If you wish to get a broad overview of living conditions in Europe in 2023, explore Eurostat's new publication from the Key figures series: Key figures on European living conditions.This publication features intuitive visualisations and the latest data, to help readers dive into the main characteristics of EU households and individuals in terms of income, social inclusion and living conditions. It also includes indicators for tracking progress toward the targets of the European Pillar of Social Rights Action Plan.More information Key figures on European living conditions – 2023 edition Thematic section on income and living conditions Database on income and living conditions  The European Pillar of Social Rights...