Major oil companies are scaling back their investments in renewable energy, returning to their core competencies after facing challenges and losses in the green sector. This shift coincides with the success of Exxon, which resisted the trend, and the lingering impact of the Boeing fiasco, serving as a reminder of the risks associated with venturing outside core expertise.
Elon Musk and U.S. president-elect Donald Trump in Brownsville, Texas, on Nov. 19. The pair's fighting over more mundane issues, such as tariffs, might trigger the end of their bromance.It’s that time of year again. Herewith are my economic and business predictions for 2025. Making them is harder than usual, given the capricious nature of U.S. president-elect. I mean, we could be one incremental tariff away from a trade war or one sunken supertanker away from an oil crisis, at any moment.
But fighting over more mundane issues, such as tariffs, might trigger the end of the bromance. Mr. Trump loves trade barriers – he has called tariffs “the most beautiful word in the dictionary” – and has threatened to slap them on pretty much every country, including 25-per-cent tariffs on all imports from Canada and Mexico, and an additional 10 per cent on Chinese goods, to stop job “theft.”
Up next? Mining executives think Anglo can’t keep saying no and will lose its independence later this year, once it finishes a restructuring that will see the sale of its De Beers diamond business, among other divisions, to focus on copper and iron ore. BHP might take another shot at it, but it would face competition. Rarity value could see the winning takeover offer land at well north of Anglo’s market value of £32-billion .
OIL COMPANIES RENEWABLES BOEING EXXON BUSINESS TRENDS
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