Stocks extend losses…Oil leases near sacred tribal land on hold…Mexico issues arrest warrant for Lozoya
NEW YORK (AP) – Stocks have extended their losses in afternoon trading on Wall Street, keeping the market on track for its first monthly loss since December. Technology companies are again leading the way lower, reflecting increasing unease among investors that those companies could bear the brunt of worsening trade tensions with China. Bond yields continue to fall as investors favored lower-risk assets.
ALBUQUERQUE, N.M. (AP) – Interior Secretary David Bernhardt has agreed to put off oil and gas leasing for a year on land that tribes consider sacred surrounding Chaco Canyon National Historical Park in northwestern New Mexico. The area has been central to an ongoing dispute over drilling in the San Juan Basin area. Native American tribes are pushing for a formal buffer to protect culturally significant sites within 10 miles of the park. The decision comes after Bernhardt visited the ancient site yesterday and officials say it will allow time to finish an updated management plant for the region.
MEXICO CITY (AP) – Mexican authorities have issued an arrest warrant for the former director of state oil firm Petroleos Mexicanos, wanted for alleged corruption. Authorities said that efforts to locate Emilio Lozoya have not been successful, but that the case against him is solid. Lozoya led Pemex during the administration of former Mexican President Enrique Pena Nieto (PAYN’-yuh nee-EH’-toh). The case centers on the sale of a fertilizer plant to Pemex for what auditors said was an inflated price back in 2015.
DALLAS (AP) – Activist shareholders are bashing Exxon Mobil over climate change, saying the company is failing to confront a future that may include stricter regulations to limit climate change caused by burning fossil fuels. Exxon successfully petitioned the SEC to block a shareholder vote on setting targets for reducing carbon emissions from burning oil and gas. Exxon Chairman and CEO Darren Woods defended the company, saying Exxon is doing its part by providing energy that people need while also reducing emissions from its own operations.
UNDATED (AP) – If you misbehave repeatedly while getting a ride from Uber, you could get booted off the app. The company says that starting today, riders with a rating from drivers significantly below average could lose their ability to ride. But before that happens they’ll get tips on how to improve ratings by being polite, not leaving trash in vehicles and not asking the driver to violate the speed limit. Uber says riders will get several chances to improve their rating before getting the boot.