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ConocoPhillips in Talks to Buy Concho: What’s in Store?

ConocoPhillips COP is considering the acquisition of smaller rival Concho Resources Inc. CXO, per Bloomberg. The current market volatility might trigger more acquisitions in the oil and gas space.

Although any final decision regarding the acquisition is yet to be made, there’s a chance that a deal might be finalized in the next few weeks. A massive $38.2-billion upstream company, ConocoPhillips’ acquisition of Concho Resources — a $8.8-billion company — will likely lead to the creation of one of the biggest exploration and production companies in the world.

The move is expected to boost ConocoPhillips’ oil-rich Permian Basin acreages. Spanning 800,000 gross (550,000 net) acres, Concho Resources’ assets are spread over high-quality land across the core Delaware and Midland Basins. Total second-quarter production for ConocoPhillips and Concho Resources were recorded at 1.3 million barrels of oil equivalent per day, per Bloomberg.

Now, a question may arise whether ConocoPhillips’ balance sheet

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White House seeks limited coronavirus relief bill, promises further talks on broader stimulus

WASHINGTON (Reuters) – The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small business loan program as negotiations on a broader package ran into resistance.

FILE PHOTO: U.S. Treasury Secretary Steve Mnuchin takes questions from news reporters with White House Chief of Staff Mark Meadows following a series of meetings on efforts to pass new coronavirus aid legislation on Capitol Hill in Washington, U.S., July 28, 2020. REUTERS/Tom Brenner/File Photo

The proposal was the latest twist in the on-again, off-again talks to try to secure more stimulus for the economy, which is struggling to recover from coronavirus-related shutdowns that threw millions of Americans out of work.

In a letter to lawmakers, Treasury Secretary Steve Mnuchin and White House Chief of State Mark Meadows said they would continue to talk to Senate Democratic leader Chuck Schumer and House Speaker

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House Speaker Pelosi Says Coronavirus Stimulus Talks With White House at Impasse

WASHINGTON—House Speaker Nancy Pelosi (D., Calif.) said negotiations with the White House over a new coronavirus aid package remained at an impasse Sunday, as Senate Republicans remain wary of more spending.

In a letter to House Democrats on Sunday, Mrs. Pelosi said the administration’s latest $1.9 trillion offer, submitted Saturday, provided inadequate funding and no national plan for testing, contact tracing and treatment of the coronavirus.

“This past week, the president demonstrated very clearly that he has not taken the war against the virus seriously, personally or nationally. This attitude is reflected in the grossly inadequate response we finally received from the administration on Saturday,” Mrs. Pelosi wrote. “Until these serious issues are resolved, we remain at an impasse.”

House Democrats have pushed for $75 billion and a national plan for testing, tracing and treatment of the virus. Mrs. Pelosi said in her letter that the White House plan included

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Trump pivots again on stimulus talks after bipartisan backlash

The administration’s latest request is unlikely to advance in the House, where Speaker Nancy Pelosi (D-Calif.) has rejected stand-alone legislation in favor of a comprehensive package to address the economic and health consequences of the coronavirus pandemic. The administration’s $1.8 trillion stimulus proposal on Friday came under heavy criticism from lawmakers in both parties over the weekend, making its chances of passing appear remote.

White House officials will request that Congress approve legislation allowing firms demonstrating a decline in revenue to apply for a second round of PPP funding, which they are not allowed to do under existing law, according to one person familiar with the plans who spoke on the condition of anonymity to discuss the administration’s internal planning.

“Now is the time for us to come together and immediately vote on a bill to allow us to spend the unused Paycheck Protection Program funds while we continue to

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Jon Bon Jovi Talks Optimism, Recording During the COVID-19 Pandemic and Why Everyone Should ‘Do What You Can’

“Livin’ on a Prayer” singer Jon Bon Jovi, 58, celebrates the new decade with 2020, his namesake band’s 15th studio album (releasing Oct. 2). It’s fortified with the kind of feel-good, stadium-rock anthems that Bon Jovi fans love and other songs dealing with the issues of today, including the COVID-19 crisis. Bon Jovi also runs three nonprofit JBJ Soul Kitchen restaurants in New Jersey, with the goal of building community and providing meals and training to those in need.

Why such socially conscious themes?

2020 is the most unique year that any of us has ever lived. Because of the pandemic, the state of political affairs and the divisions, it’s a distinctly different time than I have ever known in my lifetime. I’m at a place in my life and career that I can be a witness and write about it. “Do What You Can” is one of

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White House ups virus aid offer, resumes talks with Pelosi

WASHINGTON (AP) — The White House is boosting its offer in up-and-down COVID-19 aid talks in hopes of an agreement before Election Day, even as President Donald Trump’s most powerful GOP ally in the Senate said Congress is unlikely to deliver relief by then.



White House chief economic adviser Larry Kudlow talks with reporters outside the White House about coronavirus relief package negotiations, Friday, Oct. 9, 2020, in Washington. (AP Photo/Evan Vucci)


© Provided by Associated Press
White House chief economic adviser Larry Kudlow talks with reporters outside the White House about coronavirus relief package negotiations, Friday, Oct. 9, 2020, in Washington. (AP Photo/Evan Vucci)

Trump on Friday took to Twitter to declare: “Covid Relief Negotiations are moving along. Go Big!” A top economic adviser said the Trump team was upping its offer in advance of a Friday conversation between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi. The two spoke for more than 30 minutes Friday afternoon, said Pelosi spokesman Drew Hammill.



Treasury Secretary Steven Mnuchin, walks from the office of Senate Majority Leader Sen. Mitch McConnell of Ky., as he leaves the Capitol, Wednesday, Sept. 30, 2020, in Washington. Mnuchin earlier met with House Speaker Nancy Pelosi of Calif. (AP Photo/Manuel Balce Ceneta)


© Provided by Associated Press
Treasury Secretary Steven Mnuchin, walks from the office of

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White House ups offer in virus aid before talks with Pelosi

WASHINGTON (AP) — The White House is boosting its offer in up-and-down COVID-19 aid talks Friday in hopes of an agreement before Election Day, even as President Donald Trump’s most powerful GOP ally in the Senate said Congress is unlikely to deliver relief by then.

Trump on Friday took to Twitter to declare, “Covid Relief Negotiations are moving along. Go Big!” A top economic adviser said the Trump team is upping its offer in advance of a Friday conversation between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi.

A GOP aide familiar with the new offer said it is about $1.8 trillion, with a key state and local fiscal relief component moving from $250 billion to at least $300 billion. The White House says its most recent offer was about $1.6 trillion. The aide requested anonymity because the negotiations are private.

Pelosi’s most recent public offer was about $2.2

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Problem with BSE website; Anil Singhvi talks to Dharmesh Mehta of DAM Capital



graphical user interface


© Provided by Zee Business


Vedanta Delisting Update: Today is the last date for tendering Vedanta shares for delisting bid but the bidders are unable to bid as there was a problem with the BSE website today. Zee Business Managing Editor Anil Singhvi talked to the advisor of Vedanta Delisting issue Dharmesh Mehta, MD & CEO at DAM Capital and asked whether they will ask for one more day for bidding. Mehta replied to Anil Singhvi that they have raised the issue with the BSE and final decision in this regard is vested with SEBI only.

On problem in the BSE site from today morning, Dharmesh Mehta told Anil Singhvi, “There is problem with the BSE website from today morning and it is not getting updated since 11:00 AM. We have raised the issue with the market regulator body SEBI and hopefully they will take proper decision in this regard.”

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White House lurches in new direction on stimulus talks, pushing for airline aid

The newest twist in the talks appears to be fast-tracking negotiations to aid the airline industry while shelving prospects for broader unemployment aid and other programs. But the situation seemed somewhat fluid in the wake of a late-night change of heart from Trump, where he demanded piecemeal legislation on $1,200 stimulus checks and small-business assistance, in addition to airline aid.

White House Chief of Staff Mark Meadows said the administration still held out hope for such one-off measures — even though Democrats have consistently rejected that approach — and Trump broke his coronavirus isolation Wednesday afternoon to go into the Oval Office, where a spokesman said he was being briefed on stimulus talks.

After sinking on Tuesday, the stock market rallied sharply Wednesday on the prospect of a partial deal. The Dow Jones industrial average closed up 531 points, or nearly 2 percent. Airline stocks fared even better, with American

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White House says ‘not optimistic’ about COVID-19 aid, talks with Congress are off

WASHINGTON (Reuters) – White House chief of staff Mark Meadows on Wednesday said he was not optimistic that a comprehensive deal could be reached on further COVID-19 financial aid and that the Trump administration backed a more piecemeal approach, even as he said negotiations with Congress were over.



a man wearing a suit and tie: White House Chief of Staff Mark Meadows speaks to reporters about President Trump's health after he was tested positive for COVID19


© Reuters/KEN CEDENO
White House Chief of Staff Mark Meadows speaks to reporters about President Trump’s health after he was tested positive for COVID19

“We’re still willing to be engaged, but I’m not optimistic for a comprehensive deal. I am optimistic that there’s about 10 things that we can do on a piecemeal basis,” Meadows told Fox News in an interview.

Meadows did not say what 10 items the administration wanted to tackle, but reiterated President Donald Trump’s position tweeted late Tuesday night that he would back separate legislation addressing airlines, small businesses and stimulus checks for individuals.

Trump called off talks

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