keep the other half with exxon mobil. you're going to do terrifically. we are walking in the valley of the shadow of the fed rated you should fear no evil, as long as you have a balance portfolio. palo alto numbers. focus on the intersection of artificial intelligence. cybersecurity, and i'm hearing of the company can continue to iterate for a rapidly changing landscape read the ceo. logic is off of the ceos. i love the toys. you can remember, they are much more than toys. let's go to the company stock great. they gave me the quarter that i thought. i would get it one year from now. ask me anything. let's dig into all of the numbers. stay with cramer. it's a beautiful... ...day to fly. wooooo! norman, bad news... i never graduated from med school. what? but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go. plus, buy one unlimited line and get one free for a year. i gotta get this deal... that's like $20 a month per unlimited line... i don't want to miss that. that's amazing d

this is an important arbitration not only for exxon mobile but for chevron and hess. to take our time to do what's right, make sure that we do all the due diligence and we get to the answer here, the right answer. >>withal, the right answer, you continue to have confidence, and i think it's come down to what is maybe as few as 11 words in the contract that you're going to prevail, but why? >> i wouldn't concentrate on 11 words. i would say this contract is designed to ensure we have those rights. it's a foundation of these contracts that we do all around the world, so we're pretty confident in it. >> and you said last week, i think, with becky or a week and a half ago, you're not interested in buying hess. >> that is right. >> that is correct? >> this is around confirming our rights to very valuable assets. as part of the transaction, we understand their rights, we understand the asset with respect to this transaction and then we decide what options we have to maximize the value for exxonmobil insurers. it will go down as one of the best in the industry. we're doing e

but a more serious stumbling block is hess�* dispute with exxon mobil over its lucrative guyana assetsompanies have a stake in. under a joint operating agreement, exxon has a right to refuse the sale of hess�* guyana assets — which is one of the world's fastest growing oil reserves. chevron has said they would pull out of the deal if hess�* guyana stake was not included. let�*s turn to sri lanka now — the government has ordered the nation�*s tea industry to raise workers�* wages by next month. companies that refuse to do so could be taken over by the government. tea producers are warning that the 70% increase in pay for tea workers, to around 5 and a half dollars a day, would hurt their business. sri lankan tea is one of the country�*s biggest exports. the industry is worth at least $1.3 billion and brings in much needed foreign currency into the country. for more we�*rejoined by ganeshan wignaraja, a visiting senior fellow at think tank odi. sri lanka announced this wage hike for plantation workers in response to the political cycle of producing facing elections in september to octobe

but a more serious stumbling block is hess�* dispute with exxon mobil over its lucrative guyana assets have a stake in. under a joint operating agreement, exxon has a right to refuse the sale of hess�* guyana assets — which is one of the world's fastest—growing oil reserves. chevron has said they would pull out of the deal if hess�* guyana stake was not included. so far both companies have failed to make progress on terms failed to make progress on term ., ”a: failed to make progress on term ., ”x; , ., ., terms for the $37 billion deal. the clock _ terms for the $37 billion deal. the clock is _ terms for the $37 billion deal. the clock is ticking _ terms for the $37 billion deal. the clock is ticking as - terms for the $37 billion deal. the clock is ticking as the - the clock is ticking as the deadline for negotiations will expire at 5pm london time on wednesday — that�*s midnight for us here in singapore. let�*s turn to sri lanka now — the government has ordered the nation�*s tea industry to raise workers�* wages by next month. companies that refuse to do so could be taken over by th

calpers, the largest pension fund in the united states planning to vote against exxon mobil's board ofproposals for the oil-gas giant to reduce emissions but exxon still suing them anyway. that's what this is all about. joining us, calpers ceo marcie frost. >> good morning. >> a decent explanation? >> a great explanation. >> explain your position as relates to these activists, which did withdraw their position. >> they d. but exxon, read the statement in a little bit, but part of their perspective is shareholders is basically -- gone wild. there is almost too much democracy, too many activists proposing too many different planses, some of which she have a well stake in and some believe they are political? >> yeah. let me start with saying that we have engaged with exxon. had a number of discussions with exxon on this topic. my investors relations team talking to their relation sheep. multiple requests to drop the lawsuit. i'm not certain the problem we're trying to solve or exxon is trying to solve didn't use the system in place through the s.e.c. if they want add no-action advisory co

are there any lessons learned now that they are by exxon mobil of course to correct and in reviewing the aftermath now of the second incident in louisiana, which of the these seem to have gone unaddressed? >> i can note that there are numerous directives we provided after the first incident and we are still in the investigative phase which can take some time. we also pride of those lessons learned that i know you asked me last time i was here about a proposed rule that we hope to have out in the next few weeks to create the strongest standards for the pipeline. >> i think we all look forward to seeing that rule. we have about 5,000 miles of the co2 pipelines right now most of it in rural areas when something terrible happens as it will continue to do. we've not yet seen major population centers affected. however, there is tremendous pressure now to build out this network. i think it is inevitable that incidences are coming to more populated areas in the near future and this committee unfortunately is sleepwalking into that. with all the pipelines not only worsening the climate crisis

just listen for example, to this warning by exxon mobil ceo darren woods when he was asked if the term while on these campuses will actually impact who is company even hires what we're seeing on campuses today in some places is something very different from that. >> harassment and intimidation. i think there's no place for that, frankly, at those universities and certainly no place for that i kept me like exxon mobil so we wouldn't we wouldn't look to bring folks like that into our company. and if that action or those protests reflect the values of the campuses where they're doing it wouldn't be interested in recruiting students from those campuses. >> that might be surprising. we're not surprising to you. woods though, isn't alone. i mean, you have hedge fund founder daniel loeb, time, the new york post, quote, we're looking for high quality candidates, but we're going to be looking at different places the ceo of an executive search firm tells the post, quote, i'm hearing from people they don't want to send their kids to these places, but also from the banks that they're leery about r

but a more serious stumbling block is hess' dispute with exxon mobil over its lucrative guyana assets operating agreement, exxon has a right to refuse the sale of hess' guyana assets — which is one of the world's fastest growing oil reserves. chevron has said they would pull out of the deal if hess' guyana stake was not included. we're also watching merger talks between mining giants bhp and the uk's anglo american. so far both companies have failed to make progress on terms of deal worth $49 billion. but the clock is ticking, as the deadline for negotiations will expire at 5pm london time on wednesday. when we come back — one dunk or two? today is national biscuit day here in the uk, and we'll be examining our insatiable appetite for the crunchy stuff. we will have a fun quiz and a special guest that you won't want to miss. around the world and across the uk, this is bbc news. welcome back to the programme. as the ecb edges closer to cutting interest rates next week, a new report out this morning shows that business confidence among ceos and chairs of many of europe's largest compani

. >> hay, melissa, they'll that's happening, because the exxon mobil deal to asquirt pioneer closed today, so now this will be replacing it. you see it up 3%. back over to you. >> julia, thank you. >>> here's what's coming up next. >> announcer: we lift off and visit the magic kingdom to take on next week's earnings reports. what they're predicting. into plus, the oracle and the apple. has berkshire hathaway's huge bet on the iphone maker gotten too risky? one votes says it could kay on berkshire's pofortlio. we're back, right after this. vi, my promise to you is simple. as a fiduciary, i promise to put your interests first, always. i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com (grandpa vo) i'm the richest guy in the world. to helping people achieve their financial goals

billion dollar takeover despite reservations among several prominent investors about disputes with exxon mobilr a key asset. the transaction still need to get past the trade commission as well as the ongoing arbitration case brought by exxon over control over the interest in a guyanese field. exxon has said the proceedings may drag into 2020 -- 2020 five. just hours left on the clock for australian mining giant bhp to convince anglo american on its ambitious $49 billion acquisition plan, the deadline to salvage the deal expires at 5:00 p.m. in london today. let's get more on the story with bloomberg's -- she was in singapore for us. what are we expecting? >> i am going to reach for the same football cliche that has been handed to me several times this morning, it is all still to play for. we have until 5:00 p.m. tonight, london time as you said. as far as we know the two sites are very close, only question is whether they can get over the last concerns on the anglo american side, particularly regarding structure and the cost of some of what bhp wants to do with her south african assets. this i

one of john d rockefeller's own can is sliming exxon mobil. >>> why the other shoe could be

higher how shareholders approve the $53 billion merger deal with chevron despite the dispute with exxon mobile aspects in guyana under a joint operating agreement. i spoke with chairman and ceo of chevron the global institute conference. even as regulators are watching this. watch. >> this is a good deal for both companies, it's good deal for the industry in a good deal for the country of guyana will close were working our way through the ftc was sure hoping it will be completed in the shareholder vote at the end of this month in a contractor she will while the other partners that will be preserved for o. you think this coaster despite the obvious pushback from government on big deals recently? >> i think it will go through and i think that will be positive for the industry. in spite of what the sector has done, it is still not where historically it's been relative as opposed to energy as a percentage of market cap for the overall index. when the five, 6% anywhere from 8 - 10% range. getting animal spirits back in the tech sector. i think overall market that would suggest that were nearing a

we have seen exxon mobil buying pioneer natural resources. that deal closed earlier this month. just saw the dupont story earlier in the week that they would be splitting off into three different business -- independent businesses. i think it is m&a, it is also the spinoff. we saw ge spin off. we have bhp bulletin and glencore looking at anglo american. there is a lot of activity right now, and we will see it on the technology side as well. that certainly can create opportunity for investors both on the private equity side and the public equity side. katie: just like 30 seconds, i do find it interesting that we are talking about m&a, talking about the opposite of m&a, and that is spinoffs. you look at certain indexes of spun-off companies and they are at all-time highs. what are you thinking around that space? is that an opportunity in your view? aaron: we don't look at it on the financial engineering site. we look at each company for what it is. we look at management, we look at the moat they have created or haven't created, we look at the leadership position, financials, balan

exxon mobil is trying to stop a planned merger between chevron and hess. deal expected to close within the next year. i spoke with c chevron chairman and ceo, mike wirth at the conference. >> it's a good deal for the companies, it's a good he deal r the industry, we're confident the deal will close. we're working through the ftc process. shareholder vote at the end of the month and we've got a contract issue with one of the other partners that will be resolved through ash a station. that will take -- arbitration. that will take a little longer. maria: i want to get your take on what hess brings you. guyana is the superstar of the deal. tell me what else hess brings to the table for chevron. >> i'll start with the people, really good quality people and a culture that alliance with our culture -- a aligns with our culture. it's a tribute to the family that created such a commitment to safety, to integrity, to protecting the environment and doing the right thing so great people. they've got a great portfolio of businesses. we've got complementary businesses i

here what we have is the entire gas and oil industry, exxon mobil, bp, several other companies, whicherstood the way fossil fuel combustion produced dramatic changes in the climate and warmed the climate in ways that had been costing humanity hundreds of billions of dollars. the costs are only going up. all of this is to the detriment of the public health and public safety. it is a very close analogy. we are congress, we are lawmakers. we have to figure out how to get out of this mess. the question of civil or criminal liability or culpability lies exclusively with the department of justice. we will let them figure that out. lisa: we asked major oil companies for comment and they did not respond. we also asked the american petroleum institute to join us on the program. they did not respond to that but did respond to your letter, writing, this is another unfounded political charade to distract from persistent inflation and america's need for more energy, clean oil and natural gas. u.s. energy workers are focused on delivering reliable, affordable oil and natural gas americans demand. a

what do you make of it >> if you own the shares you're not going to support this suit exxon mobil iseeds to i understand where the suit is coming from in terms of protecting the environment if you want to get to green new energy, you're going to have to use fossil fuel to get there better to partner with the exxons of the world than to vilify them. in the meantime, what is salient here on a fundamental basis is natural gas prices i know it has nothing to do with the lawsuit, sorry, scott, but natural gas prices have almost doubled from their low of about a month ago. at that time, inos, we're seeing, that's the thing to watch for for the next leg up in the stock. that matters far more than the lawsuit. >> joe. >> back to the lawsuit, for a second, if we could, wall street is going to decide on this vanguard, black rock, state street, fidelity, 23% ownership of the shareholder base. they're the ultimate decision makers which way are they going to side on this? >> i think we know which way they tend to. >> i think we do the index funds tend to vote there was also a surprise a couple of

the 66-page report accuses bp, exxon mobil and chevron of using disinformation and double speak to live companies publicly claim to be partners if not leaders in fashioning climate solutions, our investigation exposed that as a fraud. big oil is not addressing the climate crisis but profiting from it. the era of denial and deceit must come to an end. >> joining us now, democratic congressman jamie raskin of maryland, and senator whitehouse of rhode island, the chair of the senate budget committee which held today's hearing. senator, i will begin with you, explain what you found. >> what we found is that the well known campaign of the big oil companies to deny climate change, to treat it as a hoax. to question the science, all of that nonsense has morphed into a new campaign where they pretend they care about climate change, but when you look under the hood and get into their documents, you can see that they are set up to oppose reaching the paris climate goals, set up to lock in natural gas forever in a whole variety of ways, despite what their public-facing statements are. >> how are t

public pension fund is considering a vote against exxon mobil's ceo darren woods' re-election to thefinancial times," the pension plan says its deeply concerned about the twin lawsuits challenging shareholder discontent against its greenhouse gas emissions and exxon has gone well beyond any other company in terms of suing shareholders you may remember, there are shareholders back in january wanted to come up with a proxy addition they wanted a vote to take a look at what would happen to exon mobil to try and change its emissions from the products that it sells in response, exxon actually filed a lawsuit against those two shareholder groups one was arjuma capital, the other, follow this saying defendants are asking exxon mobile to change thi everyday business eliminating certain of its products it sells. it's said they don't consider them investors the most part doing this sew beability vists to try to very calculatedly, he said, become shareholders simply with the goal of trying to agitate on climate change and put the company in a position where it can't do the main business lines i

companies considered a conspired rather with opec to push up gas prices isis they've sent a letter to exxon mobil bp america, and three other fossil fuel companies demanding documents, including their communications with opec. our earlier this month, federal regulators accused texas oil icon scott sheffield of allegedly conspiring with opec to raise prices, raising concern over whether this has been common practice among other companies. >> cnn's matt egan helped break the story. >> any joins us now with the latest on this, what do you know? map. >> but boris and jessica, a big oil is facing new scrutiny from congress over a topic that we know americans care deeply about. gas prices. now, new jersey democrat frank pallone, he's launched investigation into seven of the biggest players in oil, exon, chevron, bp, shell, devin energy, occidental, and hess and the big question is, he's asking whether or not these oil companies colluded with either each other or with opec to jack up the price of oil and gasoline by agreeing to keep supply low. let me read you from this letter from pallone to the oil co

some of the big beasts shell, exxon mobil, they're already leaving the area could cost £26 billion invalue. this does not make economic sense, does it? >> i think it does, because it's about the energy and the economy of the future . of the future. >> we've said oil and gas is going to be part of the mix for many, many years to come, but we're not going to commission new contracts. and, you know, the backdrop to this is the huge rise in energy prices, prices that we're still living with. and this government has made us overly dependent on oil and gas, subject to the fluctuations of the international markets. with great british energy, a publicly owned company, driving renewables, we will give ourselves greater security . ourselves greater security. >> we don't we don't know whether we're going to be buying existing assets from the private sector, building new assets from scratch or investing in new projects. do we don't know, because only the last two of those things would actually add to the uk's energy generation and storage capacity. >> and that's what we're we're determined to do.

administration, the interior will circle, the senior advisor to the president included the former ceo of exxon mobil in the former president of goldman sachs. say what you want about their politics, those are real people. at the end, the inner circle included the guy who sells pillars at night on fox news. i work hard to prevent that from happening. then after i left, i think it happened. >> one quick ps, we talk about egos. you covered the congress. you also have big egos in the senate and the house, huge stakeholders you can't get legislation through unless you have good rapport on the hill. i used to have a one dollar bet with the president when a senator would come in by himself. the two chairs in the oval office you see in the picture a million times with a fireplace behind it. the wager was, with the senators sit down in the chair before the president offered it or not? i won nine out of 10 debts. [laughter] jennifer: that is a good point. your job, we think of you as interfacing with the president. that is the several role. but you have to talk to stakeholders, members of congress, and congre

another example, in louisiana, an estimated 107,000 gallons of co2 leaked from a pipeline owned by exxon-mobile, local police and firefighters could do nothing than set and wait for the pipeline's owner to repair it. it took more than two hours to repair, and many residents were never notified of the leak. yes or no, does that sound safe? >> the incident occurred, but that doesn't necessarily mean the pipeline wasn't safe, sir. >> my final question, mr. rorick. how much does co2 pipeline developers stand to profit from these pipelines? >> i'm not in a position to answer that, sir. you'd have to ask those individual operators. >> well, since you're not sure, i'll tell you that in the midwest, summit carbon solutions, largest solution of pipe work in the nation could be 18 billion dollars in tax benefits for their project. that's just one company. it's apparent that there are dangerous gaps in federal regulations that keep people safe and huge economic motivations for the companies that want to see these pipelines built. leak notification system, detection methods odorless co2 and emergency respo

. >>> and being told the federal trade commission will approve exxon mobil's roughly $60 billion purchaseresources. biggest acquisition exxon's made in a long time source says the consent agreement including a provision to bar pioneer's former ceo from joining exxon's board. >>> meantime, futures right now ahead of the market open, an hour and a half until now, dow up nasdaq up. s&p up 30 points treasurys quick. looking at their, 10.6 two year 4.937 under 5 straight to contessa brewer with more on the pre-market news. >> andrew, cigna shares a bit of a shock announcing revenues beat expectations raising full year guidance up 1 p.6% pre-market evermore and sigma health care especially contributing to the beat and lost thes 300 million first quarter, this company managed to beat analyst expectations. >>> chinese ev maker nio junk in the truck. up 20% here in the u.s., up 5% pre-trade. ev competition, of course, heating up in china as companies there look to undercut tesla. >>> move on to carvana shares exceeding the speed limit. up 35% almost. clearly results that beat the street this morni

morgan stanley resuming coverage of exxon mobil. overweight.the acquisition of pioneer. jp morgan upgrading ne-yo to neutral come expecting shares to benefit -- upgrading nio to neutral. bernstein upgrading general mills to market perform come expecting a stronger second half of 2024. we are looking ahead to cpi in retail sales. ed yardeni is back with us. we have been talking about defense and offense. i want to talk about which sectors do what? we mentioned utilities were almost exclusively defensive and now there is this ai theme. everything has changed. ed: is a moving target. i am sticking with what i've been promoting is overweight and that is technology. industrials. communication services. those continue to do well. we are seeing a lot of materials are doing quite well. copper related stocks are doing well. i think it is becoming early bull market. jonathan: a lot of people say we are late cycle. ed: i have 5400 on the s&p by the end of this week or the year. i am still working on the timing. jonathan: might be the end of this week. ed:

direct air caster space from small start-ups to big names bike exxon mobil and the client roster is veryoval at about $1,000 per ton. the expectation is that will drop to about $300 per ton eventually now, mammoth has already sold one-third of its capacity before its even fully finished. >> what we do is raise capital for these companies to scale up, and when they scale up they bring down the cost. that's what makes it affordable more broadly. >> congress appropriated $3.5 billion for regional hubs in the u.s. through the infrastructure law. millions more are coming from funds like the ex prize, bill gates breakthrough energy, lower carbon capital and the jan zuckerberg initiative. again, we'll start to see this, guy, all across the u.s. >> the plant is removing carbon, but what's pow ering the plant? >> actually powered by geothermal if you can see that big puff of smoke over there, that's actually steam coming from a plant, the company the called on-power all geothermal energy is piped through these enormous pipes that come from all the way over there, through and into the plant and ho