what do the coke brothers want and what does exxon mobil want? very simple. by not increasing the fuel economy standards of the vehicles, you need for oil because cars will consume more in the course of a year. they then say let's turn to the arctic national wildlife refuge, a sacred place and find more oil because the vehicles we drive won't be that efficient. what kind of secretaries are we going to make in our country because the coke brothers and exxon mobil want to have more oil drilled on. we will have the trump administration say the only way we can justify it is if the cars and other light trucks, suvs are not thatha efficient therefore u need all the loyal you can get even though we are a a technological and we know we can make these vehicles so much more efficient so we never have to drill there. that is a sin against the environment, our country and future generations who should be able to enjoy this pristine area, the wildlife refuge. now let's move onto another part. evenil more oil that will be another giveaway during the time that the departmen

chevron and exxon mobil will be reporting. right now dow futures are down a 50 points, the nasdaq is up by 3. coming up, amazon wants to give you another reason to jump onto its prime service. this could be a nightmare for employees. lauren: it really could. cheryl: walmart taking shopping to the next level. we'll take you inside the store of the future, complete with artificial intelligence. you're watching "fbn: a.m.." ♪ hey, hey, hey. ♪ it's a beautiful day. ♪ and i can't stop myself from smiling. ♪ th us in the unstoppable john deere gator xuv835, because when others take rain checks... we take the wheel. run with us. search "john deere gator" for more. i'm workin♪ to make each day a little sweeter. run with us. to give every idea the perfect soundtrack. ♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪ i'm working for all the adventure two wheels can bring. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. termites, we're

w re not against exxon mobil. they have fiduciary responsibility to reduce business costs as low as possible. but when they are exempt frompa ng property taxes, i have to pay more, and small business have to pay more.r: >> reporteeanwhile, just blocks from the refinery... >> this community has been forgotten. t's been neglected. >> reporter: butnk a lot of people driving through here would be thinking, you know, it's the culture of the place. what could exxon mobil do tott make things be? >> if more money is being put into schools, put into workforce velopment, these people would have hope. these people would have opportunity. >> reporter: exxon mobil's response is that it contributes about $4 milli to the community each year through grants and employee matching fts. >> the next item on the agenda: the itep application for exxon mobil corporation. >> reporr: but this january, arguments like cage's carried the day. >> please vote. >> reporter: the local school board, strapped for cash, rejected the tax breaks. ( ap

reporter: moreover, cage's group, together louisiana, found that, despite all those tax exemptions, exxon mobil's baton rouge facilities llectively lost more than 2,000 jobs. >> we're not against exxon mobil.e they hduciary responsibility to reduce business costs as low as po tible. but why are exempt from paying property taxes, i have to pay more, and small businesseso havey more. ju>> reporter: meanwhile, blocks from the refinery... >> this community has been forgotten. it's been neglected. >> rorter: but i think a lot of people driving through here would be thinking, you know, it's the culture of thace. what could exxon mobil do to ma things better? >> if more money is being put into schools, put into workforct developmense people would have hope. these people would haveun oppoy. >> reporter: exxon mobil's response is that it contributes about $4 million to the community each year through grants and employee ma gifts. >> the next item on the agenda: the itep application for exxon mobil corporation. >> reporter: but this nuary, arguments like cage's carried the day. >> please vote. >> reporter:

exxon mobil and chevron report reporting next hour. we'll have analysis.veils the store of the future. we'll bring you there. next up. stay with us. ♪ it's like i waited my whole life. ♪ for this one night. ♪ it's going to be you and me on the dance floor. ♪ because we've only got one night. metastatic breast cancer is relentless, but i was relentless first. relentless about learning the first song we ever danced to. about teaching him to put others first. about helping her raise her first child. and when i was first diagnosed, my choice was everyday verzenio. it's the only one of its kind that can be taken every day. it gives us more time without cancer progressing. verzenio is the only cdk4 & 6 inhibitor approved with hormonal therapy that can be taken every day for postmenopausal women with hr+, her2- mbc. diarrhea is common, may be severe, or cause dehydration or infection. before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection th

ruled that exxon mobil's management can legally keep shareholder proposal for the company to divulge plans to address emissions produced by exxon product that could currently threaten human civilization the group of activists shareholders was led by new york state comptroller thomas the napoli in a campaign to get exxon to endorse the goals of the global two thousand and fifteen paris agreement at the may two thousand one hundred shareholder meeting and f.t.c. lawyers said that the proposal attempted to micromanage the corporation mr de napoli the new york comptroller said we will continue to press exxon and others on climate risk and consider all options available to us in our next steps. and moving from exxon's latest internal moves will now check out how the oil giant is fairing in the markets and much more joining us to lend a hand to drill into exxon stock we're now joined by adam mesh the c.e.o. of adam mesh trading group who joins us from our new york studio adam thank you so much for joining us. thanks so much for having me happy to be here as always so we just covered the ex

it even supplants apple and exxon mobil. moody's says aramco generated $110 billion last year. legal firm hired by swedbank has accused the prosecutor of ignoring the norms of swedish law as allegations of money laundering grow. sweden's oldest bank fired its chief executive. swedbank is being investigated by supervisory authorities in sweden and estonia and the u.s.. that is your bloomberg business flash. matt: thanks very much. step in opening chinese markets to foreign investors? the chinese yuan denominated onshore bonds will be included in the global index from today. the move is expected to bring billions of dollars into the country's bond market, the world's third-largest. we spoke to some of the region's most influential investors. >> our impression of policy bank bonds into the bloomberg barclays index will be a game changer around the world. areica, europe, asia, they talking about capturing this opportunity. >> it would add liquidity and opportunity. >> if you look at passive and 300ve combined, up to billion u.s. dollars of inflow. matt: not all investors are so ena

with the bidding going on for anadarko, where is exxon mobil in terms of what they need to do on spendingons -- on spending, on acquisitions, on strategy? fernando: exxon moved early. they've done their movements in 2016, so now they are really spending to develop and bring production online and stave off the declines that have been hunting than this past several years. david: constance, talk about it in terms of economics and what is going on with the performance of these energy companies. constance: obviously oil prices are going up, and that is in part due to supply constraints. we have sanctions against venezuela, and the end of the exception to the sanctions against iran. this is causing people, if they are going to comply with these sanctions, countries like south korea, turkey, they get a lot of their energy from iran, are going to have to look elsewhere and get other supplies. it also takes supply off-line. iran exports about 3 billion barrels a day. it is pushing up the price of oil. this should help the energy producers here in the u.s.. carol: because of his higher oil prices g

according to -- it easily surpassed apple and exxon mobil., aramco generated earnings before interest, tax, and depreciation. saudi oil giant as a plus ahead of the bond market debut. for 4.6 buying -- billion dollars. the deal is expected to be completed in the fourth quarter of the year after a bid. the foundation owned 46% of the shipping company. shareholders had previously gone public in support of the takeover. chrysler is reportedly discussing a way to share investments to build cars in europe. -- fiat chrysler is reportedly discussing a way to share investments to build cars in your. partnership could eventually develop into a wider combination, but it is limited. that is your bloomberg business flash. nejra: olivia hows, thank you so much. u.k. lawmakers will seize control of poetry proceedings for a second time as they attempt to find a majority for a parliamentary proceedings for a second time as they attempt to find a majority. no agreement is reached, the u.k. could leave with no deal on april 12. let's get the latest from westmi

wonderful, why don't you start us off >> exxon mobil the best balance sheet in energy. >> five-monthl today. >> yep if you are going to buy into the state, you need the best balance sheet. you need exploration and cost of doing so >> remember we did this as an upgrade in the last week or so >> i bought exxon last week. watch out for a presidential tweet soon, though >> what have you got >> navient a cash cow with a serious image problem and almost 6% dividend yield in trades. >> even though i own some individual stocks, i buy the xbi. >> farmer jim, what and why? >> starbucks we talked about the downgrade this thing bounced off the downgrade early and has done nothing but gone higher. >> like kevin, exxon mobile, wednesday you're going to have before the house the five big banks appearing and as a jp shareholder, that's going to be big. >> earnings from jpm and wells fargo, as well "the exchange" with kelly starts now. >> thank you, scott. >>> hi, everybody. here is what is ahead. shaking up the fed trump considering two highly political candidates as fed nominees we'll talk about wh

much lower than expected despite that saudi aramco has still overtaken apple road dutch shell and exxon mobil to become the world's most profitable company some of in java deports. one of saudi arabia's most highly guarded secrets is out or at least partly revealed the state oil company has unveiled data for the first time since the one nine hundred seventy s. saudi aramco had to publish the information in a prospectus for potential investors as it prepares to raise capital and buy a petrochemical company called sobbing the data also raises questions about the size of saudi oil reserves betrayed by the revenue to run the kingdom that of our oil field is one of the world's largest surprise in the prospectus is that the around close its production capacity is three point eight million barrels a day now that still is far away the largest deal in the world what people are concerned about as it used to produce well referred to in those days what we've understood over the years is that this is an intentional reduction of capacity in the war the sabbath purchase comes after saudi aramco plans for a

closes chevron will become the second largest producer of crude oil among major drillers just behind exxon mobil. is also comes amid surging oil prices in the us which are up about 40% this year. construction of the highly anticipated movie disney is finally launching its own streaming service called disney plus the new service will offer blockbusters like the star wars series and marvel superhero movies. company also says subscription fees will be cheaper than its biggest rival netflix. catherine bennett has more. disney announces hotly anticipated streaming service on thursday but found t to still he awhi to wait. disney plus will launch in november this year in north amererica and will be rolled out in other markets through twenty twenty and twenty twenty one so what kind of band do you get for your buck. the service combines various franchises inn one bundldle meag ththat foror a monthly subscripn fee of six dollars ninety nine use will have access to the catalogs of pixel m mobile national geographic and stone walls. thananks to the acquisition of twentyty first century fox disny plus willl

much lower than expected despite that saudi aramco has still overtaken apple road dutch shell and exxon mobil to become the world's most profitable company some of the job that reports. one of saudi arabia's most highly guarded secrets is out or at least partly revealed the state oil company has unveiled data for the first time since the one nine hundred seventy s. saudi aramco had to publish the information in a prospectus for potential investors as it prepares to raise capital and buy a petrochemical company called sobbing the data also raises questions about the size of saudi oil reserves betrayed by the revenue to run the kingdom that of our oil field is one of the world's largest surprise in the prospectus is that the around close its production capacity is three point eight million barrels a day now that still is far away the largest feel in the world what people are concerned about as it used to produce well referred to in those days what we've understood over the years is that this is an intentional reduction of capacity in the war the sabbath purchase comes after saudi aramco plans f

much lower than expected despite that saudi aramco has still overtaken apple road dutch shell and exxon mobil to become the world's most profitable company some of the java deports. one of saudi arabia's most highly guarded secrets is out or at least part of wield the state oil company has unveiled data for the first time since the one nine hundred seventy s. saudi aramco had to publish the information in a prospectus for potential investors as it prepares to raise capital and buy a petrochemical company called sobbing the data also raises questions about the size of saudi oil reserves betrayed by the revenue to run the kingdom that of our oil field is one of the world's largest surprise in the prospectus is that the around close its production capacity is three point eight million barrels a day now that still is far away the largest deal in the world what people are concerned about as it used to produce well referred to in those days what we've understood over the years is that this is an intentional reduction of capacity in the war the savage purchase comes after saudi aramco plans for a pu

>> well, the big three were and are bp, exxon mobil, and conoco phillips. over time, the names have changed as companies merged and absorbed each other. so, what is conoco was really arco, but the big players haven't changed much. the big two are bp and exxon. >> you mentioned the influence over the legislature, what does that mean, for regulation, regarding oil in the state? >> it was always an enormous battle to get any regulation in place. the trend really ran in the opposite direction. regulation tends to get looser, not tighter. that really was a factor in what happened in the oil spill. most regulation having to do with the operation of that tanker, exxon valdez, were federal and origin and focus. the regulation having to do with cleanup on the other hand, were fundamentally at the state level, that was part of the problem that regulations were big of a problem in the spill. the federal oversight of tanker operations was too loose, and that's why the tanker hit the reef, and, the state oversight of cleanup readiness was to lose, and that's why the com

from exxon mobil from wall street in london based natural gas and oil corporations and the energy markets have a lot to do with the geo political tension that is going on there's a big incentive for wall street in london energy corporations to push russia out of the market. you know it's not as if doesn't have enough aside from being a two time loser in the primaries and going out for a third time is running for president do you think this could be an issue for him as he gets and once eventually actually says i'm running and runs you could be an issue for have the. well the crazy thing is you know joe biden just like his proclivities with women he does this out in the open he doesn't try to cover it up he's sitting there in the meeting basically saying that he got the general prosecutor of ukraine fired that he called him up and you had him on the phone and told them he told him they wouldn't get the money unless the guy was fired but what's more interesting is where was joe biden speaking he was speaking at the council on foreign relations one of the most powerful think tanks in washingt

much lower than expected despite that saudi aramco has still overtaken apple road dutch shell and exxon mobile to become the world's most profitable company some of the java deports. one of saudi arabia's most highly guarded secrets is out or at least partly revealed the state oil company has unveiled data for the first time since the one nine hundred seventy s. saudi aramco had to publish the information in a prospectus for potential investors as it prepares to raise capital and buy a petrochemical company called sobbing the data also raises questions about the size of saudi oil reserves betrayed by the revenue to run the kingdom that of our oil field is one of the world's largest surprise in the prospectus is that the around close its production capacity is three point eight million barrels a day now that still is far away the largest feel in the world what people are concerned about as it used to produce well referred to in those days what we've understood over the years is that this is an intentional reduction of capacity in the war the sabbath purchase comes after saudi aramco plans for a

much lower than expected despite that saudi aramco has still overtaken apple royal dutch shell and exxon mobil to become the world's most profitable company this report from a sum of inge of eight. one of saudi arabia's most highly guarded secrets is out or at least partly revealed the state oil company has unveiled data for the first time since the one nine hundred seventy s. saudi aramco had to publish the information in a prospectus for potential investors as it prepares to raise capital and buy a petrochemical company called sapping the data also raises questions about the size of saudi oil reserves betrayed by the revenue to run the kingdom that of our oil field is one of the world's largest surprise in the prospectus is that the around close its production capacity is three point eight million barrels a day now that still is far away the largest feel in the world what people are concerned about as it used to be is well referred to in those days what we've understood over the years is that this is an intentional reduction of capacity in the war the sabot purchase comes after saudi aramco

very appetizing deal, a massive corporation that is effectively in some ways considered a cheap exxon mobilyes. it is not surprising it went well. i think the order book is perhaps a bit overstated. vonnie: yes. also, the yield very similar to yields of saudi sovereigns themselves. i guess it is a proxy for the sovereign in some ways. 150 basis point over u.s. treasuries.is that the added risk when dealing with saudi arabia? brian: i think that is really aggressive. some were saying we will not buy this aramco debt if it is through the sovereign curve. it makes absolutely no sense at all. it is riskier in a bit of a sense than the sovereign is. but on the other hand, you have the corporate bond investors who are creating yield any way they can get it. it looks like a cheap oil giant. vonnie: what can we anticipate next? how long will saudi rest on its laurels before making another move with aramco? brian: it is an interesting question because this is their debut bonsall and has gone so well that you would think this is something they can do again going forward if the opportunity presented i

additional cash for a lot of id investor's, aramco is on par with other big energy companies like exxon mobilnd bp. for them it is attractive. tracy alloway there, our executive editor and cohost for "bloomberg markets middle east." look at markets for us. 7065 is where we are. prices fell earlier. the most in two months since russia cloud the prospect for extended production cut rates. we are working with the corporation for the opec, and we are willing to work together to have joint solutions. i would be cautious. we would be prepared to continue corporations. whether that is the decrease of the output, or maybe keeping the oil output at a current level, i am not ready to say that yet. rishaad: our asia editor joins us from singapore. what was it about president vladimir putin's remarks towards the markets? >> it is that note of caution. the oil market has surged up 30% because of these fundamental actors like cut and supply. anything that makes investors think that those supply cuts will not continue on in the second-half starts to make people worry about the long-term future of these oil

our next guest, the head of applied research at exxon mobil so -- great to have you. we were talking about potentially downside when it comes to the chinese economy. turnve seen the macro data a bit, whether the pmi, the housing data we have seen this week. are we fearing less about the chinese slowdown? think we are seeing conflicting data. you are seeing some good data out of china and that is not surprising given the stimulus that has been going on but then you get negative data out of u.k..y or france or the you get negative news from the imf, world bank and those bodies. there is a rise of uncertainty aversion in the market right now. we had a big rally in january-february and they will be loaded up on risk assets and now they are feeling, let's get confirmation about what we just did and they are waiting. you have earnings season starting right now so we will hear from ceos, whether or not they believe we have a soft landing or rebound coming. that is where the focus will be. the market is trading sideways because risk aversion is evenly matched. david: when it

it was the worst performance for exxon mobil's refining business in 17 years. ost $256 million in the first quarter. stockpiles of gasoline squeezed margins, and extensive repairs slowed out but. all of that you wrote it exxon -- slowed output. all of that eroded exxon profits. american airlines estimates it will take a 350 mullen dollar -- a $350 million hit to earnings because of the grounding of the 737 max 8 and rising fuel costs. that is your latest bloomberg business flash. let's check u.s. markets now. we are seeing them turnaround, though fractionally. the dow jones industrial average is up 1/10 of 1%, as is the s&p 500. chip stocks are recovering just a little bit. that is sending the nasdaq down, but just fractionally, by about 1/10 of 1%. the best performer in the as beaver hundred right now, procter & gamble, up two point -- in the s&p 500 right now, procter & gamble, up 2.25%. -- worst performer, and dell performer, intel. we will be talking to the ceo. guy: oil is falling, the dax trading a little bit higher. wirecard trading up. the european close

chevron intensifying a battle with exxon mobil to be america's top energy company. could take months or years for the u.s. to extradite julian assange from the u.k. his lawyers say they will fight the attempt to send him to america. assange would face charges as part of hacking attempt. he had been living in ecuador's embassy for almost seven years. jay powell told democratic lawmakers the central bank will not give into political pressure. those remarks came at a democratic retreat in virginia. powell said not to have mentioned the president's attack on the federal reserve. in china, exports have rebounded after the lunar new year holiday. if a trade deal is reached with the u.s., export growth could rise. import sales continue their slump, down more than 7%. that underscores the fragility of china's domestic economy. global news 24 hours a day on air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. vonnie: thank you. coming up later, we will hear from germany's finance

giants apple and exxon mobil. last month, they gave the oil giant the fifth highest investment rating. >> aramco income last year was around $111 billion, well ahead of apple and other oil company -- companies like exxon and royal dutch shell. another interesting point is that aramco has been rated as the same level as the saudi sovereign and the next question will be how investors are looking at those ratings and how they want to price aramco compared to some of the saudi sovereign issuances over the past couple of years and we should start to see that develop over the next few days as aramco 's bonds roadshow goes on. ♪ >> unicredit is waiting with a tie up between the biggest banks in germany failed according to the fc which says the lender is preparing a rival bid for commerce frank. why would unicredit go for commerce bank -- commerzbank? >> they do have a big bank there. the german subsidiary is one of the biggest banks in germany and adding more size to that makes sense in a market that is andntially over b

. >> i haven't seen this since the exxon mobil plant exploded in 2016. quite a run on supplies and that's what's causing the prices to rise. >> that's almost $5 a gallon. >> reporter: it sure is. our experts tell us they do not believe these prices will fall by the end of the month. reporting live, jobina fortson, abc 7 news. >> thank you, vanna. i mean, jobina. >> i was hoping she was switching the numbers. >> i wish she could switch the numbers. gas buddy is revealing the best and worst days of the week to fill up. >> for california drivers the best time is monday morning on your way tndheorst to $30 a year by switching to mondays when stations tend to be less busy. we set up a link to gas buddy. go to our website abc7news.com. >>> in the south bay san jose city leaders say there is nothing they can do to stop a chick-fil-a from opening despite protests from some in the lbgt community. they told the city council the restaurant is set to open in about a month under an approved contract. the city council did take some action, voted to hold off on extendi

chevron is intensifying a battle with exxon mobil to be america's top energy company. it could take months or years for the u.s. to extradite julianna size from the u.k.. his lawyers say that he will fight attempts to return to america. he will face charges that he took part in the hacking conspiracy to disclose classified government materials. he was arrested after ecuador revoked his diplomatic immunity. he had been living in ecuador's embassy for the past seven years. jeremy paul has told lawmakers that the central bank will not give in to political pressure. reboundedina, exports after the new your holiday. export growth could rise, but on the other hand, import sales were down 7%, underscoring the fragility of china's domestic economy. onbal news, 24 hours a day, air and on tictoc on twitter,, powered by more than 2700 journalists and analysts in over 120 countries.. i am kailey leinz. this is bloomberg. vonnie: coming up, disney investors seem to beef feeding the magic today. that seem to be feeling the magic today. willis big without analyst this is bloomberg. >

giants apple and exxon mobil.n last month. the agency gives the saudi oil giant the fifth highest investment rating. >> the income loss last year was around $111 billion, far surpassing apple around $59 billion, and well ahead of the other oil companies, like exxon and shel which have, been around the $20 billion mark. aramco has been rated at the same level as the saudi sovereign, in the next question will be how investors looking at those ratings, how they want to price aramco compared to some of the saudi sovereign issuance we have seen over the past couple years. we should start see the answer to that over the next few days as aramco's bonds go on. ♪ >> unicredit is waiting in the wings to tie up two of germany's biggest banks failing. the italian lender is preparing a rival bid for commerzbank should talks with deutsche bank collapse. why would unicredit bid for commerzbank? they already have some assets in germany, don't they? >> exactly, and that is part of the reason they do have assets in germany, they ha

oil and gas become the second largest crude producer in the world behind exxon mobil producing 3.9 billions a day. >>> rusal is teaming up with brady industries which is building the largest new aluminum plant in america in four decades rusal will provide aluminum slab metals in kentucky which will produce a low carbon aluminum product. rusal will invest $2 million and will hold a 40% stake. sanctions were lifted on rusal >>> also coming up on the show, italy's finance minister plays down any u.s. backlash on the initiative more on that exclusive interview, that is coming up next >>> welcome back to the show well, italy's finance minister has played down any repercussions after rome signed up to be part of china's road initiative in an exclusive interview i also asked him if he sees any issues with the european commission's deal with the italian government. >> i don't see any problem because our agreement was on the debt structure it's considering the economic cycle. >> reporter: you have a 23 billion euro hole that needs to be plugged by october. now the five star movement has said that t

emily: they also have some big clients, kroger, walgreens, exxon mobil.does that mean, given that it is competing with amazon web services and google cloud. to work withu want amazon or microsoft? that is one of the biggest things we are seeing right now, and all of these legacy companies, this is really the time for microsoft to shine, before -- because the growth rate was from the likes of uber, lyft, and those companies would typically start off with amazon, but for amazon, it has been working with these legacy enterprises for decades, and this is where they want microsoft's help, to become like an amazon, or they want to compete with those entities. uply: microsoft shares are 33% from a low in december, along with some of the rest in big tech, but it is not far off from that $1 trillion market cap. what are you looking out for this year? anurag: the single biggest point that we need to focus on right now is whether there is any change in corporate spending. that really can put a dent in this entire tech rally, and so far, we are not seeing it. we are

it easily surpassed apple and exxon mobil.they generated net income of just over $110 billion. the agency gave the saudi oil giant its fifth highest investment rating. deal is expected to be completed in the fourth quarter of the year after a sweet bid wins the support of a new foundation which owns 46% of the shipping company. shareholders previously voiced their support of the takeover. a legal firm accuses the investigating prosecutor of -- this comesorms as allegations of money laundering against the bank grow. last week sweden's oldest bank fired a chief executive and they are now being investigated by financial supervisors in sweden and estonia, and by authorities in the u.s. facebook is urging regulators around the world to agree on standards governing online content to avoid the patchwork of different companies. the push comes from government scrutiny of facebook around the world. and that's the bloomberg business flash. nejra: thank you so much. now let's turn to the auto sector. persia and fee at chrysler are reporte

that surpasses exxon mobil joining us now on the cnbc line, a former saudi aramco executive.e is the founder and president of hue say knee energy thank you very much for joining us here on cnbc. with earnings of that size, why does aramco need to tap the credit markets should they issue a bond >> good morning, brian, aramco is obviously responding to the directives of the saudi government, and the saudi government has a very long-term strategic restructuring program for the economy, and this involves a lot more than aramco. it involves the public investment fund growing by $200 billi $200 billion over the next ten years, the saudi industrial development fund, the logistics program promoting 65 major private sector developments so forth, so yes, it's a lot of cash, but it's going to be put to good use and growing the domestic economy of saudi arabia and also diversifying the economy away from being entirely dependent on oil and gas >> you know a big global, i guess, debate over the true value of aramco should it ever go public with that long awaited ipo, 224 billion in pretax

. >> i haven't seen this since the exxon mobil plant exploded back in 2016. so we're seeing quite a run on supplies and that's really what's causing these prices to dial up. >> how much is it a gallon? >> reporter: it says $4.49 a gallon for regular. >> what? where is that at? >> reporter: i would have had that same reaction. i wish i could deliver better news now but analysts tell us they do not expect the prices to fall by the end of the month. reporting in fremont, jobina fortson, abc 7 news. >> oh, man, thank you. >>> gas buddy revealing the best and the worst days of the week to fill up. so here are some tips. for california drivers the best time is monday morning on your way to work. the worst is sunday. drivers can save $20 to $30 a year by switching to mondays when stations tend to be less busy. interesting. >> in the east bay a concord daycare wants to find its stolen van. this surveillance video shows the moment thieves drove it away. it is the second time the van has been stolen. as reporter reports. >> reporter: moments late they are is video of t

only one with the fire power once the acquisition closes, chevron will become nearly as large as exxon-mobilhell in terms of production i don't think exxon wants to see the crowd without a fight. they have -- well oxy has claimed they have the permian crown and all of the companies are far and away the largest oil and gas formation ever in the u.s. and so much of that stuff is so easy to get out of the ground. it has pipes and everything. and if they could bulk up the business by buying an independent that would make a ton of sense so which independent producers would make the most obvious targets. i'll give them to you. write them down. last one is probably best but all of these will probably happen the first is apache. then concho and parsley and pioneer. and let's start with apache. used to be much higher and egypt and a good place and in the north sea off the coast of the britain. most importantly, they have a ton of exposure to the permian basin but the company has been inconsistent producer. a couple of years ago we learned of a major new discovery, alpine high but not lived up to the

. >> like kevin, exxon mobile, wednesday you're going to have before the house the five big banks appearing and as a jp shareholder, that's going to be big. >> earnings from jpm and wells fargo, as well "the exchange" with kelly starts now. >> thank you, scott. >>> hi, everybody. here is what is ahead. shaking up the fed trump considering two highly political candidates as fed nominees we'll talk about what it could mean for policy and for these markets. >>> also, a lesson learned from lyft pinterest pricing below estimates and that might not be so bad we'll explain. >>> the teens have spoken and one brand is king and it may surprise you alexa is getting into health care and we'll tell you about the $3,000 movie rental that is all ahead in rapid fire. we begin with the markets and bob pisani. >> with the volatility index at the lowest level of the year on friday, no wonder stocks are taking a breather. we're being moved around by a slew of downgrades of key names today. bank of america downgrading boeing downgraded southwest on the continuing boeing saga and micron and starbucks finally dow

exxon mobil, they need to get drilling to maintain the product.ve products that by the summer we will be able to have good news. isarly, the other key thing we need to go to the license round. we need to make sure there are new players willing. it is attracting a lot of interest. we have recently confidence that 1000 100lose to delegates. manus: can i interrupt you? ra may have given you the moniker of drill or drop, but you are more show me the money. they are drilling and they are producing. what are you going to produce this year? you part of opec. you are a small part. that is what matters to the cohesion of opec plus. what are your numbers? >> our number at this moment is 120 barrels per day. we have a production of 300,000 barrels per day. a whole new moniker for you, minister, which is show me the money. equatorial guinea minister. i will be seeing you -- you know what? it's all about growth. minister, i will see you in vienna. thanks for joining us this morning. >> it will be a pleasure. manus: it is always a pleasure. let's talk about pol

human guardrails in the great old days we used to mean mattis, mcmaster, even the former ceo of exxon mobil, tillerson, who became secretary of state. we did learn in this report, if you're looking for good news that there is a next generation human guardrail that did push back against this president. >> yeah, i've been told recently by a senior national security official who served in the trump administration that one of the reasons, for example, h.r. mcmaster, a currently serving three-star army general left his role as national security adviser is because the president asked him to do things that are illegal. of course he's an army officer and that is totally against everything he stood for. there are multiple instances the president has asked his associates to do things that are unlawful and he said i'll pardon you. i harken back to his episode in the report that was released today where the president asked his chief of staff, reince priebus, to go direct the deputy national security visor, a woman named k.t. mcfarland to lie to the file, to write a false memo, to say the reason the tra

apple, alibaba, exxon mobil or saudi aramco. stay tuned. we'll tell you the answer.ussen's "open." the progressive case for free trade and global capital. i wish every democratic candidate would read this book. it's a highly intelligence, fact-based defense of the virtues of an open, competitive economy and society. and now for the last look. 900 million voters, 10 million election officials, 1 million polling stations. this is the indian general election, the world's largest exercise in democracy. it will begin on thursday, and in order to accommodate the gargantuan needs of the indian electorate it will take place in seven stages over six weeks. during that time, election workers will span out across the country carrying electronic voting machines to remote mountain villages and tiny water-logged islands. they will hike in the himalayan mountains, take boats through the mangroves and even ride elephants in unpaved forests all to ensure that every voter has access. you see, the lord dictates there be a polling place within two kilometers of every indian home. in 200

has overtaken apple shell and exxon mobil has become the world's most profitable company some a binge of eight has more than of saudi arabia's most highly guarded secrets is out or at least part of field the state oil company has unveiled data for the first time since the one nine hundred seventy s. saudi aramco had to publish the information in a prospectus for potential investors as it prepares to reste capital and by a petrochemical company called sobbing the data also raises questions about the size of saudi oil reserves the true wide the revenue to run the kingdom that of our oil field is one of the world's largest surprise in the prospectus is that the around close its production capacity is three point eight million barrels a day now that still is far away the largest deal in the world what people are concerned about is that used to produce well referred to in those days what we've understood over the years is that this is an intentional reduction of capacity or war the sabot purchase comes after saudi aramco is plans for a public share offering their i.p.o. was put on hold las

major new clients included walgreens and exxon mobil. nejra: debra mao, thank you so much.cus on the dollar and its 2019 surge, as investors pile into treasuries. bloomberg dollar index has climbed to its highest level this year. this week is expected to show the world's largest economies humming along. lena komileva, chief economist and managing director at g plus economics is still with us. the dollar climbed to a 2019 high as other currencies are suffering. yesterday -- earlier you are saying we're sort of passed the best for the u.s. economy. is dollar strength more about weakness elsewhere? lena: it's remarkable that the dollar has defied expectations for strength at a time when the u.s. economy was drawing above trend and the fed was in a tightening mode. now that u.s. growth is stabilizing and the fed has declared on extended pause, the dollar is outperforming. that tells us how unusual the cycle is. the fact that the risk traded just --, is aot reflection that the markets are -- there is strength -- concern about the strength of durability of this particular rally.