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J. Scott Applewhite / AP

The White House yesterday claimed credit for Exxon's announcement that it's investing $20 billion (some of which began a few years back) in a suite of refining, petrochemical and liquefied natural gas projects along the Gulf Coast. The company says it's creating around 45,000 construction and permanent jobs. "President Trump made a promise to bring back jobs to America. The spirit of optimism sweeping the country is already boosting job growth, and it is only the beginning," the White House said, while Trump tweeted a shorter version and even made a video touting the investment as the result of "our policies."

What we're hearing: Analysts point out that investments on this scale were set in motion well before election day, and that it's a logical business move to capitalize on massive shale oil and gas resources that Exxon and other companies are developing in the region. Exxon itself noted that the U.S. shale boom is spurring growth of downstream industries. The Houston Chronicle reports that "nearly all the projects ... were underway or announced before the election."

The White House will probably have more chances to claim the industry's wins as his own and get a political lift; the Wall Street Journal reports that Chevron is expected to unveil new plans this week.

Nonetheless, there is optimism in the industry that Trump will help with easing delays and removing administrative hurdles to pipelines (like the Dakota Access line he already approved) and other infrastructure projects.

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Dan Primack, author of Pro Rata
Updated 4 hours ago - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

Ina Fried, author of Login
6 hours ago - Technology

Federal judge halts Trump administration limit on TikTok

Illustration: Aïda Amer/Axios

A federal judge on Friday issued an injunction preventing the Trump administration from imposing limits on the distribution of TikTok, Bloomberg reports. The injunction request came as part of a suit brought by creators who make a living on the video service.

Why it matters: The administration has been seeking to force a sale of, or block, the Chinese-owned service. It also moved to ban the service from operating in the U.S. as of Nov. 12, a move which was put on hold by Friday's injunction.