SNAPSHOT Wall St opens flat, focus on retail earnings and Jackson Hole summit
The Dow Jones Industrial Average (.DJI), opens new tab rose 17.0 points, or 0.04%, at the open to 44,963.17. The S&P 500 (.SPX), opens new tab fell 4.8 points, or 0.07%, at the open to 6,445.02, while the Nasdaq Composite (.IXIC), opens new tab dropped 6.2 points, or 0.03%, to 21,616.82 at the opening bell.
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Reuters
25 minutes ago
- Reuters
Senator Schiff asks FCC to disclose if Trump sought content changes in Paramount merger review
WASHINGTON, Aug 18 (Reuters) - Democratic Senator Adam Schiff asked the Federal Communications Commission whether President Donald Trump sought programming or media coverage commitments as part of the approval of CBS-parent Paramount Global's merger with Skydance Media. Schiff on Monday sought details from FCC Chair Brendan Carr on potential political influence by Trump on the review, citing the $16 million settlement paid by Paramount (PSKY.O), opens new tab to Trump weeks before the merger's approval and a series of meetings the FCC held with company executives. The senator also asked if the FCC had talks with the companies concerning specific programs, including 'The Late Show with Stephen Colbert" during the merger review. CBS announced in July the Late Show would be canceled next year. Schiff said the sequence of events "raises significant questions and alarm that the FCC – an independent regulatory agency – has become a vehicle for President Trump to exact personal retribution and undermine the freedom of the press." Paramount, the White House and the FCC did not immediately respond to requests for comment. Democratic Senator Richard Blumenthal, who last month also sought answers on the review, suggested that the FCC's goal was "government censorship" in approving the deal. "The FCC is engaged in an unprecedented and illegal campaign to chill free speech and independent news reporting protected by the First Amendment," Blumenthal wrote. The FCC voted 2-1 to approve the $8.4 billion merger after Skydance agreed to ensure CBS news and entertainment programming is free of bias, hire an ombudsman for at least two years to review complaints and end diversity programs. Trump has repeatedly attacked broadcast networks for what he perceives as biased news coverage and called on Carr to rescind their licenses. Democratic FCC Commissioner Anna Gomez accused Paramount of "cowardly capitulation" to the Trump administration. She also said the FCC was imposing "never-before-seen controls over newsroom decisions and editorial judgment, in direct violation of the First Amendment and the law." Paramount agreed to pay $16 million to settle a $20 billion lawsuit filed by Trump, claiming CBS News' "60 Minutes" deceptively edited an interview with former Vice President Kamala Harris. Paramount did not admit wrongdoing.
Reuters
26 minutes ago
- Reuters
Gas demand at two of the top US LNG plants declines
HOUSTON, Aug 18 (Reuters) - Two of the United States' largest liquefied natural gas export plants recorded major declines in demand for natural gas on Monday, suggesting parts of their facilities might be down, according to data from financial firm LSEG. Cheniere's (LNG.N), opens new tab Sabine Pass export facility in Texas, which utilizes up to 4.5 billion cubic feet of natural gas per day, was down to 3.7 bcf, and Sempra's (SRE.N), opens new tab Cameron LNG plant in Louisiana, which processes 2 bcfd, was down to 1.3 bcf, according to LSEG data. Cheniere declined to comment, while Sempra did not immediately respond to a request for comment. Sabine Pass is the United States' largest LNG plant and Cameron the fourth largest. Together they have helped keep the U.S. as the world's largest LNG exporter since 2023. Monday's drop in consumption from those two facilities pulled the day's demand down to 14.7 bcf, the lowest level in two months, according to LSEG data. U.S. natural gas futures fell about 1% on Monday morning, with front-month gas futures for September delivery on the New York Mercantile Exchange falling 2 cents to $2.90 per million British thermal units.
Reuters
26 minutes ago
- Reuters
Senator wants FCC to disclose if Trump sought content changes during Paramount merger review
WASHINGTON, Aug 18 (Reuters) - Democratic Senator Adam Schiff asked the head of the Federal Communications Commission to disclose if President Donald Trump sought programming or media coverage commitments as part of the approval of CBS-parent Paramount Global's (PSKY.O), opens new tab merger with Skydance Media. Schiff on Monday sought details from FCC Chair Brendan Carr on potential political influence by Trump on the review, citing the $16 million settlement paid by Paramount to Trump weeks before the merger's approval and a series of meetings the FCC held with company executives. Schiff also asked if the FCC had talks with the companies concerning specific programs including 'The Late Show with Stephen Colbert" during the merger review. CBS announced in July the Late Show would be canceled next year.
