BP Weighs North Sea Exit Under New CEO

Trump Says He's Not Replacing FDA Chief Makary Authored by Aldgra Fredly via The Epoch Times, President Donald Trump said on May 8 that he has no plans to replace Marty Makary as commissioner of the U.S. Food and Drug Administration (FDA). When asked by reporters outside the White House about Makary, Trump responded: “Nothing much, he’s doing fine,” without elaborating further. Trump said he had seen reports suggesting the administration was planning to remove Makary from his role leading the FDA, but added that he knows “nothing about it.” The president also rejected...

Maryland Protests Data Center Costs By Ethan Howland of UtilityDive A group of 80 Maryland state lawmakers are backing a complaint at the Federal Energy Regulatory Commission over the PJM Interconnection’s cost allocation for transmission lines that support data centers. Driven by the way PJM spreads transmission costs, Maryland ratepayers will pay $1.6 billion over the next decade for transmission projects that were approved in the grid operator’s last three regional transmission expansion plans that are designed to mainly serve out-of-state data centers, Maryland’s ratepayer advocate — the Office of People’s Counsel —...

The Commercial Real Estate Crash Is Moving From Paper Losses To Realized Losses The great commercial real estate waiting game may finally be running out of time, according to Bloomberg. For years after Covid fundamentally changed how Americans use office space, lenders and property owners managed to postpone much of the financial damage. Loans were modified, maturities were pushed out and buildings were given more time to recover. The basic assumption was that eventually interest rates would come down, employees would spend more time downtown and refinancing markets would reopen. Instead, many...