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US FTC finalizes consent order for $53 billion Chevron-Hess merger

The U.S. Federal Trade Commision (FTC) said on Friday it had approved a consent order to resolve antitrust issues concerning Chevron's $53 billion takeover of Hess. According to the order, John Hess, CEO of the oil and gas producer, will be barred from joining the combined company's board over allegations that he communicated with oil producers' group OPEC during its efforts to curtail production. Though the proposed takeover has cleared the FTC's antitrust review, one last hurdle remains - Exxon Mobil's challenge to the deal.

Reuters 14 hours ago

CVX

'Genshin Impact' publisher settles US charges of violating children's privacy

Cognosphere, the publisher of anime-style fantasy video game "Genshin Impact," has agreed to pay $20 million to settle U.S. Federal Trade Commission allegations that the company violated a children's privacy law. It will also block children under age 16 from making in-game purchases without parental consent as part of the settlement, the FTC said. The FTC accused Singapore-based Cognosphere of unfairly marketing loot boxes to children that obscured real costs and misled all players about the odds of obtaining prizes.

Exclusive-Argentina negotiating gas imports from Bolivia, Chile as heat wave stokes demand

Bolivia and Chile are in talks to restart gas exports to Argentina amid a surge in demand spurred by a summer heat wave, underscoring the challenge for the government in Buenos Aires as it looks to become energy self-sufficient. "We are in a negotiation with Argentina to create a spot contract," the chief of Bolivia's state-run energy firm YPFB, Armin Dorgathen Tapia, told Reuters on Friday by phone. Chilean authorities on Friday also said in a statement to Reuters that they expect to reach a new agreement with Argentina to supply the country's remote north.

Biden’s Chips Team Hands Off $52 Billion Program to a Skeptical Trump

(Bloomberg) -- President Joe Biden’s $52 billion bid to transform the domestic chip industry — one of the most ambitious pieces of US industrial policy since World War II — is about to enter a pivotal stage: life under a new administration. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyNYC Commuters Get New Way to Dodge Traffic: $95 Helicopter RidesScaramucci, Ackman Donate to Whitney Tilson’s NYC Mayoral RunIn a City of Sprawl, Wildfire Evacuation Is Getting

US drillers cut oil and gas rigs to lowest since Dec 2021, Baker Hughes says

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row to the lowest since December 2021, energy services firm Baker Hughes said in its closely followed report on Friday. Baker Hughes said this week's decline puts the total rig count down 40 rigs, or 6% below this time last year. Baker Hughes said oil rigs fell by two to 478 this week, their lowest since November, while gas rigs also fell by two to 98, their lowest since September.

What could happen to your TikTok app on Sunday

What happens on your smartphone once a US law banning TikTok takes effect Sunday? It will depend on the actions of TikTok parent ByteDance, President Joe Biden, President-elect Donald Trump, and some of America's largest tech giants.

TikTok loses Supreme Court battle to stop US ban

The Supreme Court upheld a US law that bans TikTok on Jan. 19 unless it is sold to an owner not controlled by a foreign adversary, a ruling that creates new uncertainty for a social-media app used by 170 million Americans.

The tech CEO PDA for Trump is all about defense: Morning Brief

Numerous tech CEOs are lining up to kiss the ring of the incoming president. But getting in Trump's good graces isn't just about getting what you want. It's about avoiding trouble.

Why Trump saving TikTok isn't so legally simple

President-elect Donald Trump is reportedly mulling unconventional ways to save TikTok from an impending US ban, including an executive order. Doing so could mean facing some serious legal hurdles.

How TikTok's demise could boost Meta, YouTube, and other rivals

TikTok's loss could be its rivals' gain if the app is banned in the US.

AI watch: As his presidency winds down, Joe Biden aims to preserve the US lead over China

President Joe Biden’s final days in office were all about cementing the United States’ well established lead over China in the market for artificial intelligence.

Why the tech industry is cozying up to Trump the second time around

The tech industry is going all in on Trump for his second term, starting with his inauguration.

Rigetti Computing CEO after a 48% spike in stock price: We have to tamp down expectations

Rigetti Computing's CEO takes investors inside one of the hottest stocks in the market right now.

Trump wants to 'save' TikTok. One rescuer could be Elon Musk.

Chinese government officials have reportedly discussed selling TikTok's US operations to Elon Musk. Antitrust experts predict that the owner of X could clear any US legal hurdles if such a deal were to happen.

Google's next big bet: Taking drone deliveries mainstream

Wing Aviation, the drone delivery arm of Google parent Alphabet, is competing with players like Amazon, Walmart, and UPS to win over the multibillion-dollar drone delivery business.

What could happen to your TikTok app on Sunday

SLB says its Russia business aligns with new US sanctions as revenue drops

HOUSTON/WASHINGTON (Reuters) -Oilfield service provider SLB on Friday said its current business in Russia still aligns with U.S. sanctions issued this month, but that revenue in the country was declining. The world's largest oilfield service company is one of the few Western firms to remain in Russia after its 2022 invasion of Ukraine. SLB is under pressure to leave Russia after the U.S. Treasury Department on Jan. 10 issued new sanctions that included adjusting an executive order to cut off Russia's access to U.S. services related to the extraction and production of crude oil and other petroleum products.

TikTok loses Supreme Court battle to stop US ban

Microsoft’s Stock Revival Hinges on Showing Growth From AI Binge

(Bloomberg) -- Microsoft Corp. has plowed tens of billions of dollars into artificial intelligence. With its stock struggling, the key question is how quickly those investments can prove to be successful. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyNYC Commuters Get New Way to Dodge Traffic: $95 Helicopter RidesScaramucci, Ackman Donate to Whitney Tilson’s NYC Mayoral RunIn a City of Sprawl, Wildfire Evacuation Is Getting HarderWill Americans Ever Lose Their

SLB boosts dividend and buybacks, but warns of oil oversupply

Oilfield company SLB raised its quarterly dividend and accelerated share repurchases on Friday as its fourth-quarter profit beat expectations, while also warning of flat 2025 revenue due to an oil oversupply. The world's largest oilfield services company increased its quarterly dividend by 3.6%, and said it would buy back $2.3 billion of shares at an "accelerated" pace. First-quarter and full-year revenue would largely be unchanged from the same periods last year, as excess oil supply limits oilfield activity, the company said.

Morning Bid: Waller and Bessent help peg back Treasury yields

Salvos from a Federal Reserve governor and the incoming Treasury Secretary helped nail down this week's inflation-inspired retreat in worrisome U.S. Treasury yields before Donald Trump's inauguration as president on Monday. Two-year Treasury yields hit their lowest level since Jan. 2 - a punchy 20 basis points off Monday's peaks - after Fed board governor Christopher Waller on Thursday held out the chance of three or four interest rate cuts this year. Not unlike a similar forecast from Bank of England policymaker Alan Taylor the previous day, the unusually dovish take from Waller suggested twice as much easing this year than currently priced into futures markets.