Industries

• EPA Readies Bid to Ease Methane Controls for Oil, Gas Companies
  The US Environmental Protection Agency said Wednesday it is readying a proposal to loosen federal rules designed to cut methane releases from oil and gas operations.
• LIV Golf Loses Jon Rahm in Blow to League’s Bankruptcy-Exit Plan
  LIV Golf’s top-ranked professional, Jon Rahm, is quitting the bankrupt golf tour and views its proposal to give players a majority ownership stake in the newly established enterprise as “unacceptable,” according to his lawyer.
• Musk Attacks Unnamed Indian ‘Oligarchs’ for Locking Out Starlink
  Elon Musk accused unnamed rivals of blocking SpaceX’s Starlink satellite broadband network in India, an apparent swipe at billionaires Mukesh Ambani and Sunil Bharti Mittal.
• Hertz Lenders Team Up With Advisers as Possible Debt Fight Looms
  Creditors to Hertz Global Holdings Inc. are organizing across at least two groups, bracing for potential negotiations with the car rental company over its billions of dollars of debt that comes due over the next few years, according to people familiar with the matter.
• SEC Warns Activist Investors After Climate Push at Exxon Mobil
  The US Securities and Exchange Commission warned asset managers and activist investors about their reporting obligations following a shareholder campaign in 2021 to remove Exxon Mobil Corp. directors over their record on climate.
• Russia Plague-Lab Worker’s Death Spurs WHO Transparency Push
  The World Health Organization is pressing Russia for more information on the death of a worker in a plague lab, saying that what’s been disclosed so far makes it impossible to determine the risk the case poses.
• A Wall Street Upstart Bets on Trump’s Venezuelan Mining Push
  At a port near New Orleans on Monday, Interior Secretary Doug Burgum welcomed the first shipment of Venezuelan aluminum to the US in nearly a decade.
• Tracking Isaias’s Latest Path
  For the full experience visit: Tracking Isaias’s Latest Path
• SpaceX Credit-Risk Gauge Hits Fresh High on Fundraising Reports
  A measure of SpaceX’s credit risk surged to a fresh high and the company’s bonds weakened in the secondary market on Wednesday, following reports the company is in talks with banks and investors to raise $40 billion to buy chips from Nvidia Corp.
• SpaceX Push on Spectrum Access Gets Aerospace Industry Backlash
  SpaceX and its allies are pushing the Trump administration for easier access to bands of wireless spectrum, triggering fierce opposition from other users of the same frequencies who warn that the space industry’s plans risk disrupting everything from flight tests to hospital equipment to TV broadcasts.
• SpaceX in Talks to Borrow $40 Billion to Buy Nvidia Chips
  Elon Musk’s SpaceX is in talks with banks and investors to raise $40 billion to buy chips from Nvidia Corp., people familiar with the matter said, in what would be among the biggest-ever debt financings for the AI buildout.
• Oil Shipping Costs Reach Dizzying New Highs on Hormuz Snarls
  The price of hiring supertankers to transport oil surged to a fresh high, adding huge costs to the petroleum supply chain.
• West Africa Oil Trades at Record Discount as Freight Costs Surge
  West African crude traded at the biggest discount in more than a decade as freight rates soared and demand from Asia weakened with a recovery in oil flows through the Strait of Hormuz.
• Brazil Independent PRIO Joins Majors to Take Deep-Water Oil Blocks
  Brazil awarded more than half of the oil blocks it offered in a deep-water region off its southeastern coast on Wednesday, drawing bids from Brazilian independent PRIO SA and oil majors including Petrobras and Equinor ASA.
• Isaias Poses Risk to US Energy Output at Category 2 Strength
  The first Atlantic hurricane of the season is forecast to reach the US Gulf Coast Friday, threatening damaging winds, flooding and potential disruptions to energy production after an otherwise quiet storm season for the region.
• David Ellison Cements Status as Hollywood Mogul With Studio Mega-Deals
  It took just 13 months for David Ellison to acquire two of Hollywood’s most storied movie studios, but for the son of billionaire Larry Ellison, running both Paramount Skydance Corp. and Warner Bros. Discovery Inc. fulfills an ambition he’s held for years.
• Jony Ive Defends $615,000 Ferrari Luce Design Panned by Critics
  Jony Ive defended the widely panned design of Ferrari NV’s first electric car, saying people respond differently to the vehicle when they see it in person than in photographs.
• Garuda Indonesia Seeks More Financing as Rising Costs, Fuel Bite
  PT Garuda Indonesia is planning to raise more debt and has negotiated longer payment terms with its main fuel supplier PT Pertamina, the airline said in an earnings call, as soaring oil and maintenance costs deepened losses.
• Volkswagen Sets Aside £725 Million for UK Car Finance Payout
  The UK financing arm of Volkswagen AG has made a £725 million ($960 million) provision to cover the costs of a plan to compensate British customers who were overcharged for car loans.
• Porsche Targets 20% Price Increase for Top-Model Sports Cars
  Porsche AG plans to increase prices of its top-end sportscars by an average of 20%, including the introduction of a new model that will sit above the longtime flagship 911 in the lineup, as it seeks to revive flagging profits.
• Ashley’s Frasers Group Acquires 8.8% Stake in Under Armour
  Billionaire Mike Ashley’s Frasers Group Plc acquired an 8.8% stake in Under Armour Inc., expanding the Sports Direct owner’s investments in struggling brands and representing a fresh push into the US retail market.
• McDonald’s Franchisees Balk at Costly Bill to Upgrade Stores
  McDonald’s Corp.’s ambitious plan to overhaul its restaurants and menu is sparking angst among US franchisees facing upgrades that will cost at least $800,000 per location.
• Cookie Maker Rip Van Picks Ex-Hershey, Perdue Executive as CEO
  Rip Van Inc., a fast-growing maker of low-sugar sweet snacks, announced a former Hershey Co. executive as its new chief executive officer ahead of a push into more retail stores this month, including Walmart Inc.