ConocoPhillips to buy Marathon Oil

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits. The deal announced Wednesday is valued at $22.5 billion when including $5.4 billion in debt. Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock that they own. ConocoPhillips said Wednesday that the transaction will add highly desired acreage to its existing U.S. onshore portfolio.

Inflation pressures delay Fed rate cuts

Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation. A key reason for the delay in rate cuts is that the inflation pressures that are bedeviling the economy are being driven largely by lingering forces from the pandemic — for items ranging from apartment rents to auto insurance to hospital prices. Though Fed officials say they expect inflation in those areas to eventually cool, they’ve signaled that they’re prepared to wait as long as it takes.

Gates pledge boosts philanthropy for women?

For years, less than 2% of philanthropic giving in the U.S. has gone to benefit women and girls, but that could change in part thanks to new resources that Melinda French Gates has pledged in recent weeks. The Women’s Philanthropy Institute at the Indiana University Lilly Family School of Philanthropy has researched giving to women and girls since 2019. While the overall amount has increased over the years, it’s never exceeded 2% of overall charitable dollars. Jacqueline Ackerman, the institute’s interim director, said French Gates’ $1 billion commitment announced Tuesday could finally help break that threshold, if others join her.

Nissan warns about air bag issue

Nissan is urging the owners of about 84,000 older vehicles to stop driving them because their Takata air bag inflators are at high risk of exploding in a crash and hurling metal fragments. The urgent request comes after one person in a Nissan was killed by an exploding inflator and 58 others have claimed they were hurt. Nissan said the “do not drive” warning covers certain 2002 through 2006 Sentra small cars, as well as some 2002 through 2004 Pathfinder SUVs, and 2002 and 2003 Infiniti QX4 SUVs. The company says owners should contact their dealer to set up an appointment to have inflators replaced for free.