Lauren Silva Laughlin
Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
DALLAS, HONG KONG (Reuters Breakingviews) - Wynn Resorts is tossing three women into an escalating boardroom brawl, adding Betsy Atkins, Dee Dee Myers and Wendy Webb as independent directors. The $21 billion casino giant is trying to move beyond a sex scandal involving founder Steve Wynn. But his ex-wife Elaine Wynn wants a full overhaul. With a battle brewing, the new additions had best come ready to rumble.
HOUSTON (Reuters Breakingviews) - Policy tensions are curbing spirits that should be soaring in the U.S. energy sector. The Organization of the Petroleum Exporting Countries will break bread with U.S. shale producers at an industry confab in Houston, Texas, this week, a sign of American wildcatters’ influence on the global market. But infrastructure bottlenecks and President Donald Trump’s new tariffs threaten to prevent drillers from taking full advantage of their clout.
DALLAS (Reuters Breakingviews) - JAB and its partners are taking a gulp from 3G Capital’s fountain. They’re merging Keurig Green Mountain, the coffee-pod outfit it took private in 2016 for $14 billion, with publicly traded Dr Pepper Snapple. It’s reminiscent of how the Warren Buffett-backed architects of Kraft Heinz operate.
DALLAS (Reuters Breakingviews) - Carl Icahn has won his first battle with SandRidge Energy, but the war is not yet over. The oil driller has dropped its $746 million bid for rival Bonanza Creek Energy, something the activist and others wanted. But its poison pill – which bars Icahn from upping his stake and makes a takeover more difficult – remains in place.
DALLAS (Reuters Breakingviews) - America is great at finding natural gas, but not so good at using it. A boom in production has made the country a net exporter of the fuel. But consumers are on pace to have used less electricity generated from gas in 2017 than they did a year earlier. Shale’s promises of “energy independence” are bumping up against policy and infrastructure obstacles.
DALLAS (Reuters Breakingviews) - Exxon Mobil’s climate-change U-turn deserves some wary investor cheers. The $350 billion oil firm is finally planning to comply with shareholder demands – approved more than six months ago - to disclose how global warming will affect its business. That’s to be welcomed. But Exxon’s reputation for fobbing off such concerns means investors need to not just trust, but verify.
DALLAS (Reuters Breakingviews) - Bart Chilton wants to marry digital dreams with regulated reality. The former commissioner of the U.S. Commodity Futures Trading Commission is teaming with a group including a former TPG executive to launch a crypto-currency backed by oil. His promise of stable value sits oddly against bitcoin’s wild ride. While the vehicle offers a tax edge over oil-backed exchange-traded funds, it’s hard to imagine this coin existing if not for the wider craze.
DALLAS (Reuters Breakingviews) - The ebbing of fossil fuels is sapping energy from GE - and beyond. The conglomerate is laying off 12,000 people in a power division that lights up 30 percent of the world. It blamed overcapacity amid a shift from coal and gas to renewable energy. But other divisions are closely tied to fossil fuels, too. Its troubles suggest a wider shakeout is in the offing.
DALLAS (Reuters Breakingviews) - Saudi Arabia needs OPEC cuts to work, but not too well. The oil cartel agreed to extend cuts to production until the end of 2018 on Thursday. Its moderation so far has drained inventories and lifted prices. Further cuts won’t boost prices to the point where Saudi’s budget is in balance. Then again, that gives Saudi’s young crown prince a reason to continue reforms.
By Lauren Silva Laughlin DALLAS (Reuters Breakingviews) - Procter still digs in with Peltz, With hubris but nothing much else. Insularity remains, Causing new corporate stains, As the board waits for fresh Trian welts. It isn’t that Peltz pushed too hard: The campaign started without much petard. He sought simply a seat. But was met with conceit From an entrenched group of clubby blowhards. P&G’s David Taylor attacked. “How dare this New Yorker fight back? Our earnings are strong. Stock returns coming along. Advice, fine. But a seat he shall lack.” Taylor claimed a victory with haste. Yet a fresh count laid that plan to waste. Now it seems Peltz has won, Taylor’s unraveling begun. The board continues to nervously pace. Yet shareholders are big losers still. The board wastes their time and the till. Just stop the charade, Unman the barricades. That board seat is one Peltz should fill.
- Gold: PRECIOUS-Gold steadies as weak physical demand, higher U.S. rates weigh
- Oil Report: UPDATE 2-Venezuela pleads guilty in U.S. to role in PDVSA bribe scheme
- British Pound Report: UPDATE 1-Sterling falls after May bows to Brexit pressure in parliament
- US Dollar Report: FOREX-Dollar eases as investors reset positions ahead of Powell testimony