BP CEO Murray Auchincloss is stepping down a little over two years into the job, with Meg O'Neill, head of Australian multinational energy giant Woodside Energy, tapped as his replacement, the oil major said.
Why it matters: The exit announced Wednesday comes as BP — whose performance has lagged its Big Oil rivals — is undergoing an Auchincloss-led pivot back toward its core oil and gas business and scaling back green energy plans.
Consumers are recoiling at food inflation, punishing manufacturers and retailers that hike prices.
Why it matters: After years of rising grocery bills, people are fed up and looking for alternatives — including private label brands, lower-tier retailers and discounts.
The Oscars will move from ABC to YouTube beginning in 2029, the Academy of Motion Picture Arts and Sciences said Wednesday, marking a historic milestone for the streaming TV industry.
Why it matters: What's arguably the most high-profile award show will now be accessible to more than 2 billion people globally to stream online.
FCC Chairman Brendan Carr said in his Wednesday Senate testimony that the agency he governs "is not an independent agency, formally speaking." During his testimony, the word "independent" was removed from the FCC's mission statement on its website.
Why it matters: The extraordinary statement speaks to a broader trend of regulatory agencies losing power to the executive branch during the Trump era.
Seesawing government policy can wreak havoc on companies.
Exhibit A: Ford Motor Co., which has written off tens of billions in stranded investments over the past 15 years.
Why it matters: Big shifts in political power tend to lead to extreme regulatory swings, too, as policymakers try to steer consumer markets in one direction or another.
Billionaire Ray Dalio will make a "generous contribution" to the "Trump accounts," giving approximately 300,000 children in Connecticut $250 each, or roughly $75 million.
Why it matters: The news came alongside the launch of a website that signaled how White House officials envision the government, corporations and billionaires contributing to the accounts, aimed at improving kids' financial prospects.
Google released its new Gemini 3 Flash model on Wednesday, aiming to strike a decisive blow against OpenAI and other competitors by pushing a faster, cheaper model throughout its sprawling ecosystem.
Why it matters: The AI race is quickly becoming a standoff between Google and OpenAI, with huge implications not just for artificial intelligence technology, but for the entire economy.
Warner Bros. Discovery's board has unanimously rejected Paramount's hostile $30-per-share all-cash offer, blasting the bid as risky and accusing the company of misleading shareholders.
Why it matters: The onus will be on Paramount to decide whether or not to increase its offer, which could prompt another bidding war.
Crude prices bounced upward early Wednesday from four-year lows following President Trump ordering a blockade of U.S. sanctioned oil tankers going in and out of Venezuela.
Why it matters: The risk of a disruption in supply has stopped — for now — a long slide that steepened this week.
Solar manufacturer T1 Energy has started building a $400 million to $425 million solar cell fabrication plant around 50 miles from Austin, Texas.
Why it matters: The move bolsters one trend — Texas as a growing clean tech hub — while showing confidence in market growth despite Trump 2.0's moves against renewables.
The conservative Salem Radio Network is tapping CNN commentator Scott Jennings and Breitbart News' Alex Marlow to fill its national midday slot formerly held by slain activist Charlie Kirk.
Why it matters: The noon–3pm ET block — once commanded by Rush Limbaugh — is a staple of conservative talk radio. Stepping into that window will elevate both men from prominent commentators to central players in the MAGA media ecosystem.
Among executives and investors, confidence in the economy is at four-year highs, two new surveys find.
Why it matters: It's a sign that companies are ready to spend money and hire — good news for the economy heading into a new year — but it's also the kind of optimism that in the past has preceded economic slowdowns.
The Financial Services Forum (FSF), a trade association of the country's largest eight banks, is creating a new nonprofit to spend "tens of millions" of dollars to help inform voters and tell the banking industry's story on its terms, Axios has learned.
Why it matters: Chastened by the 2008 financial crisis, America's biggest banks have mostly avoided the limelight in Washington and have tried to work behind the scenes.
President Trump designated Venezuela a "foreign terrorist organization" Tuesday and formally ordered a blockade of all U.S. sanctioned oil tankers servicing the country.
Why it matters: Trump's newest escalation, backed by a giant U.S. armada, exerts unprecedented pressure on Venezuelan leader Nicolás Maduro's regime, threatening to bankrupt the country's already struggling economy.
Robinhood is making its biggest bet yet on the convergence of AI and prediction markets, unveiling an AI-powered investing assistant and sports trading tools.
Why it matters: Robinhood is betting on the future of investing being, well, betting.
A Massachusetts Institute of Technology professor's shooting death at his home near Boston is being treated as a homicide, authorities said Tuesday.
The big picture: Nuno Gomes Loureiro, 47, a nuclear science and engineering professor, was taken to a hospital Monday evening with "apparent gunshot wounds" and died Tuesday morning, the Norfolk County District Attorney's Office said on social media.
