Diamondback Energy Inc. surged more than 10% after agreeing to buy fellow Permian Basin driller Endeavor Energy Resources LP in a $26 billion deal that’ll create the largest explorer focused exclusively on the western hemisphere’s busiest oil field. The agreement swells the value of recent shale takeovers to roughly $150 billion as oil executives scramble … Read more
Private equity giants have given rainmakers a fresh dose of motivation to deliver cash returns during a deal drought. Carlyle Group Inc. last week followed the lead of larger rivals KKR & Co. and Apollo Global Management Inc. by tying the pay of dealmakers and senior employees more closely to investment outcomes. The firms will … Read more
Private equity funds last year returned the lowest amount of cash to their investors since the financial crisis 15 years ago, according to Raymond James Financial Inc., hampering buyout firms in their efforts to launch new investment vehicles. Distributions to so-called limited partners totaled 11.2% of funds’ net asset value, the lowest since 2009 and … Read more
Online betting on the Super Bowl surged this year, with many gamblers waiting until right before the kickoff to place their wagers, according to a company that tracks the location of internet gamblers. Data released Monday from GeoComply shows that the number of verification checks it carried out over the weekend increased by more than … Read more
His lawyers filed an emergency appeal with the court on Monday, just four days after the justices heard Trump’s separate appeal to remain on the presidential ballot despite attempts to kick him off because of his efforts following his election loss in 2020. “Without immunity from criminal prosecution, the Presidency as we know it will cease to … Read more
A judge has ordered Elon Musk to testify for a third time as part of the Securities and Exchange Commission’s investigation into his $44 billion purchase of Twitter, now called X, in 2022. Magistrate Judge Laurel Beeler issued an order Saturday giving Musk, his team and the SEC a week to agree on a date and location … Read more
If you’re noticing more air than chips in your bag of Lay’s, you’re not imagining things. The phenomenon of “shrinkflation” arose during the pandemic as retailers grappled with surging costs and experimented with pricing power. To avoid raising costs, stores are cutting the size and quality of their products. Now, even as inflation rates have … Read more
Over the past six decades, Autry Stephens has worn nearly every hat in the oil industry, from trucker to driller to engineer. Now he’s poised to don the crown of America’s richest oil tycoon. On Monday Diamondback Energy Inc. agreed to buy Stephens’s Endeavor Energy Resources LP for $26 billion in cash and stock. The … Read more
When Vermont senator Bernie Sanders was running for president the first time, the Democratic Socialist turned some heads when he lambasted the choice overload in—of all places—the deodorant aisle. “You don’t necessarily need a choice of 23 underarm spray deodorants or of 18 different pairs of sneakers when children are hungry in this country,” Sanders … Read more
Usher and longtime partner Jenn Goicoechea married in Las Vegas just hours after the R&B superstar’s headline appearance at the Super Bowl halftime show, according to officials and documents. The officiant who wed the pair is known to dress as an Elvis Presley impersonator. The couple married Sunday at Vegas Weddings, according to a marriage … Read more