Chevron Corp. has secured a victory in arbitration against ExxonMobil Corp. regarding Hess Corp.’s assets in Guyana, enabling it to finalize its $53 billion acquisition of Hess, announced in October 2023. Chevron announced it finalized the acquisition of Hess after satisfying all required conditions, including a beneficial arbitration decision regarding Hess's offshore assets in Guyana.  A...

Mark Zuckerberg (ranked No. 3 on Forbes' global billionaires list, with a net worth of $242.1 billion), along with current and former Meta Platforms board members and executives, has consented to resolve investor allegations for $8 billion for damages said to have been inflicted on the company by breaching Facebook users' privacy, according to Reuters, referencing Delaware Chancery Court...

The Supreme Court of South Korea has cleared Samsung Electronics Chairman Lee Jae-yong of all allegations concerning accounting fraud and stock manipulation. The decision will conclude a legal conflict that has persisted since Lee succeeded his ill father in 2014.  On Thursday, the Supreme Court confirmed lower court rulings that found Lee Jae-yong not guilty of financial offenses...

TotalEnergies cautioned that lower oil and LNG prices adversely impacted its results in the second quarter, even with higher production levels. From April to June, hydrocarbon production rose by roughly 2.5% compared to the corresponding period in 2024, reaching 2.44 million barrels of oil equivalent daily. The average selling price of the company’s liquid hydrocarbons from April to June was...

Apple Inc. intends to invest $500 million in MP Materials Corp., the operator of the sole rare earth mine in the U.S., as reported by Fox Business, referencing multiple sources. A formal statement regarding the investment is anticipated to be issued shortly. As reported by Fox Business, the firms plan to establish facilities in Fort Worth, Texas, and Mountain Pass, California. The...

Stellantis NV, a European automaker, intends to cease its investment in Symbio, a joint venture focused on manufacturing hydrogen fuel cells for vehicles, by 2026. Michelin and Forvia, both part of the joint venture, reported this in reply to a request from Bloomberg. “Forvia acknowledges its awareness of Stellantis' plans to cease investment in its hydrogen operations, including Symbio,...

Elon Musk's aerospace firm SpaceX is putting $2 billion into xAI, another venture of the American billionaire. This information comes from The Wall Street Journal, referencing knowledgeable sources. Elon Musk's aerospace firm SpaceX is putting $2 billion into xAI, another venture of the American billionaire. This information comes from The Wall Street Journal, referencing sources. SpaceX's...

The Italian brand Loro Piana, a subsidiary of LVMH Moet Hennessy Louis Vuitton SA, has been subjected to judicial oversight due to claims of collaborating with a contractor associated with labor violations, according to the Financial Times. A court in Milan has decided that the brand will be subjected to external oversight for one year to tackle supply chain violations. Should all legal...

Jensen Huang, the CEO of American Nvidia Corp., sold 225,000 company shares for $36.4 million. This was disclosed in a company announcement on the US Securities and Exchange Commission (SEC) website. The shares were sold under a plan established in March, allowing for the sale of up to 6 million shares by the year's end. In June, he had already sold approximately $15 million in securities as part...