Chevron's $53 Billion Power Play

Chevron Corp has agreed to buy Hess for a whopping $53 billion in stock, marking a serious power move in the U.S. oil industry.

This deal will place Chevron in a dominant position, with beefed-up shale oil and gas holdings, increased output, and a hefty 30% stake in Exxon's lucrative Guyana operations.

Said operations are set to produce more than 1.2 million barrels per day by 2027.

As European rivals shift focus to renewables, Chevron continues to invest heavily in fossil fuels, reaping the rewards of strong energy prices and demand.

Expected to close around the first half of 2024, this deal could see Chevron's annual share repurchases reach $20 billion if oil prices stay high, along with an 8% increase in its shareholder dividend.

America's not done with oil, and Chevron's leading the victory lap. However, one can't help but imagine a few sweaty brows in Europe as they watch Chevron's fossil fuel fiesta, weighing the odds of their green gamble.

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The Great Treasury Yield Climb

In an audacious financial twist, the U.S. Treasury yield reached a shocking 5%.

Taking us on a nostalgic trip back to July 2007, investors are clutching their pearls as they see the yield inch over this landmark.

The scene of this 10-year Treasury bond drama: optimism about U.S. growth and potential miscalculations in fiscal policy.

Sprinkle in some of Federal Reserve Chair Jerome Powell’s magic - a hint at a potentially tighter economy - and voila, we're on this yield space mountain.

Treasury borrowing costs are on the up and up.

Meanwhile, Congress is split, squabbling over next year's spending plans while pulling out every stopgap trick in the book to avoid a governmental shutdown.

And let's not forget, the Fed is sneakily downsizing its bond holdings.

In the midst of this fiscal circus, President Joe Biden is requesting $100 billion for foreign aid and security spending.

The U.S. budget deficit? A colossal $1.695 trillion – a 23% leap from last year, marking the most considerable jump since the pandemic-induced $2.78 trillion gap in 2021.

No, you didn't just read a Stephen King novel, it is just the current state of affairs of our economy.​

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Morgan Stanley Sails into Uncertain Waters

Morgan Stanley's stock has taken a plunge, resulting in lowered ratings from buy to hold by an Odeon Capital analyst.

The bank is seen as a ship without a captain following the imminent exit of CEO James Gorman.

With no appointed successor, Morgan Stanley's lack of leadership clarity has left Wall Street analysts apprehensive, raising questions about the firm's strategic direction.

This news came just days after the last bearish analyst started showing some positivity towards the company's stock, adding to the rollercoaster ride of the investment banking giant.

Can Morgan Stanley get their chairs together and chose a captain already?

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Google's Former CEO $100 Million Blunder

Infamous former Google chief, Eric Schmidt, has been playing a game of love and business with 29-year-old entrepreneur Michelle Ritter, turning his professional life into a romantic soap opera.

Pledging a whopping $100 million from his deep pockets into a startup known as Steel Perlot, this love-struck billionaire has tangled his lofty personal and professional life.

However, the road to Silicon Valley is paved with misguided investments and heartache.

Just a year following the venture's launch, the supposedly flourishing company was practically begging for change, requesting nearly $2.5 million to cover basic expenses such as payroll and credit card debts.

Despite the affair making juicy Page Six headlines, love hasn't kept the wheels of Steel Perlot spinning.

Ritter, whom Schmidt entrusted with complete control of the company, appears to have overpromised and underdelivered, allegedly exaggerating financial commitments and overstating involvement from bigwigs in the industry.

Imagine having so much money you can dump $100M on your sweetheart ...

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