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The Interior Department has proposed rules to limit methane leaks from oil and gas drilling on public lands. It's the latest action by the Biden administration to crack down on emissions of methane, a potent greenhouse gas that contributes significantly to global warming. The proposal Monday by Interior’s Bureau of Land Management would tighten limits on gas flaring on federal land and require energy companies to better detect methane leaks. The actions follow a methane-reduction plan announced by President Joe Biden earlier this month. The plan targets the oil and gas industry for its role in global warming even as the president has pressed energy producers for more oil drilling.
Stocks ended lower on Wall Street at the beginning of a holiday-shortened week. The S&P 500 fell 0.4% Monday, while drops in tech companies helped pull the Nasdaq down 1.1%. The Dow Jones Industrial Average held up better, ending down just 0.1%. The Dow benefited from a big gain in Disney, which soared after replacing CEO Bob Chapek with his predecessor, Bob Iger. Tesla’s stock price fell again. Banks, health care stocks and makers of household goods did better than the rest of the market. The yield on the 10-year Treasury, which influences mortgage rates, fell.
Stocks that traded heavily or had substantial price changes Monday: Carvana, Builders FirstSource fall; Disney, Imago rise.
Idaho will add a new position of solicitor general to challenge federal government actions and policies when Republican Raul Labrador becomes the state's new attorney general in early January. Labrador on Thursday announced two staff positions to be filled by former members of President Donald Trump's administration. David Dewhirst will be Labrador's chief deputy, and Theo Wold will be the solicitor general. Both will also be part of Labrador's transition advisory committee. Dewhirst most recently was the solicitor general for Montana. Only about a dozen states have solicitor generals. Wold served as deputy assistant to the president for domestic policy under Trump.
FILE - Former President Donald Trump announces he is running for president for the third time as he pauses while speaking at Mar-a-Lago in Palm Beach, Fla., Nov. 15, 2022. Attorney General Merrick Garland named a special counsel on Friday to oversee the Justice Department's investigation into the presence of classified documents at former President Donald Trump's Florida estate as well as key aspects of a separate probe involving the Jan. 6 insurrection and efforts to undo the 2020 election. (AP Photo/Andrew Harnik, File)
General Motors says it expects its portfolio of electric vehicles to turn a profit in North America by 2025 as it boosts battery and assembly …
Donald Trump’s longtime finance chief choked up on the witness stand Thursday, saying he betrayed the Trump family’s trust by scheming to dodge taxes on $1.7 million in company-paid perks, including a Manhattan apartment and luxury cars. Allen Weisselberg, a senior adviser and ex-chief financial officer at the former president’s Trump Organization, said he conspired with a subordinate to hide more than a decade’s worth of extras from his taxable income, but that neither Trump nor his family were involved in the scheme. The Trump Organization is on trial, accused of helping Weisselberg and others avoid paying income taxes on compensation in addition to their salaries. Prosecutors argue the company is liable because Weisselberg was entrusted to act on its behalf.
The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control. The filing by John Ray III, the new CEO of the bankrupt cryptocurrency firm, lays out a damning description of FTX’s operations under its founder Sam Bankman-Fried, from a lack of security controls to business funds being used to buy employees homes and luxuries. Ray was named CEO of FTX less than a week ago when the company filed for bankruptcy protection and Bankman-Fried resigned.
LONDON (AP) — The former CEO of the parent company that owns the Philadelphia 76ers and New Jersey Devils has agreed to take the same position…