BP chair Helge Lund will step down in 2026, following shareholder pressure and a reversal of the company’s net-zero strategy. This decision comes after activist investor Elliott built a large stake in BP, protesting the company’s shift toward green energy. The strategy, spearheaded by former CEO Bernard Looney, was ultimately abandoned in favor of increased fossil fuel production, a move that angered climate activists. Lund’s departure follows a “fundamental reset” of BP’s strategy aimed at improving performance and shareholder value. A search for his successor, led by senior independent director Amanda Blanc, is now underway.
Read More
Representative Don Bacon, a Nebraska Republican, opposes President Trump’s recent tariffs, arguing that past Republican support for protectionist trade policies contributed to the Great Depression. He supports bipartisan Senate legislation, the “Trade Review Act of 2025,” which would require congressional approval for new tariffs and limit the president’s unilateral tariff authority. Bacon will introduce a House companion bill, aiming to restore Congress’s constitutional role in setting trade policy. The bill faces an uphill battle in the House, but has garnered some support from Republican members.
Read More
New consumer protection laws ban hidden fees, estimated to cost consumers £2.2 billion annually, requiring businesses to include all mandatory fees in the headline price. The legislation also prohibits fake online reviews, addressing a problem impacting approximately 10% of all product reviews and impacting consumer spending of £217 billion in online retail. These changes, part of the Digital Markets, Competition and Consumer Act 2024, aim to create a fairer marketplace and empower consumers with greater transparency and control over their spending. The ban specifically targets unavoidable fees, while optional extras remain unaffected.
Read More
Following a Saturday night officer-involved shooting in Pocatello, Idaho, approximately 50 protestors gathered to demonstrate outside the Pocatello Police Department. Graphic video footage of the incident, showing a man being shot multiple times by police officers after an apparent altercation involving a weapon, circulated widely on social media. The man, possibly a teenager with special needs, was hospitalized; his condition remains unknown. The East Idaho Critical Incident Task Force is investigating, while the Pocatello Police Department has yet to release a statement.
Read More
Rep. Marjorie Taylor Greene’s request for her followers to purchase her son a birthday beer via Venmo sparked significant online criticism. The congresswoman, whose net worth is estimated at $21.93 million, faced accusations of exploiting her supporters for personal gain. Following substantial backlash, Greene deleted the post. This incident follows reports of her strategic stock trades before a major market downturn.
Read More
President Trump’s newly announced tariffs, ranging from 10% to 50%, have triggered significant market downturn and recessionary fears. These tariffs, purportedly reciprocal, are calculated using a flawed formula that inflates foreign tariffs fourfold by misinterpreting price elasticity data. Correcting this error would dramatically reduce the tariffs to near the 10% minimum for most countries. The administration’s formula lacks economic justification, raising concerns about the soundness of the underlying trade policy.
Read More
Asia-Pacific markets experienced a significant sell-off on Monday, driven by anxieties surrounding a potential global trade war ignited by President Trump’s tariffs. Hong Kong’s Hang Seng Index suffered the most dramatic losses, plunging 9.56%, while Japan’s Nikkei 225 fell 6.38% to its lowest point in 18 months. Other major markets across the region, including mainland China, South Korea, and Australia, also experienced substantial declines, indicating widespread market concern. The widespread sell-off underscores the escalating impact of trade tensions on global markets.
Read More
Senator Markwayne Mullin, in a since-clarified X video, joked about the historical shooting of a Congressman by a reporter, suggesting violence could deter “fake news.” He later claimed his comments were a joke, despite the video’s apparent seriousness. This incident follows a 2023 near-physical altercation with a union president during a Senate hearing, highlighting Mullin’s history of confrontational behavior. The historical context referenced involves a reporter acquitted of murder on self-defense grounds.
Read More
US officials have voiced concerns to European allies regarding the EU’s ReArm Europe initiative, fearing it may restrict access for American defense firms. This follows the EU’s push to bolster its domestic defense industry and reduce reliance on US weapons, a trend accelerated by past US policy shifts. Secretary of State Rubio directly warned against excluding US companies from European defense tenders, highlighting the potential for negative repercussions in US-EU relations. The Trump administration, while supportive of a stronger European defense, opposes measures that would disadvantage American companies. These concerns underscore the ongoing tension between transatlantic defense cooperation and the EU’s pursuit of strategic autonomy.
Read More
New tariffs have triggered a dramatic market downturn, with US stock futures plummeting and Asian markets experiencing significant losses. The S&P 500 is teetering on a bear market, fueled by fears of a global recession stemming from the increased trade tensions. Oil prices have fallen sharply, and even Bitcoin has experienced declines. Analysts predict continued market volatility as investors grapple with the uncertainty and potential economic consequences of the escalating trade war.
Read More
John Q. Hosedrinker