Latest news with #Auchincloss
Boston Globe
27-05-2025
- Politics
- Boston Globe
‘It's a healthy thing when you lose elections': Rep. Jake Auchincloss on Democrats' disagreements
Write to us at . To subscribe, . TODAY'S STARTING POINT The Democratic Party is rebuilding. After a second devastating loss to Donald Trump and with the party's poll numbers One of those Democrats is Representative Jake Auchincloss, a 37-year-old Marine Corps veteran who has represented Massachusetts' Fourth Congressional District since 2021. On Friday, I drove through tony Newton, lush and swollen from the rain, to visit Auchincloss' unadorned district office there, located a couple of miles from where he grew up. Advertisement In our conversation, Auchincloss cast his party's 2024 defeat as an opportunity. Democrats 'shouldn't be afraid of debate and disagreement right now,' he told me. 'It's a healthy thing when you lose elections.' He refused to say who he thought should lead the party into the future — 'that's the favorite parlor game in Washington' — but was eager to discuss the policy ideas it could pitch to voters next time. For Auchincloss, many of those ideas belong to the political middle. He describes himself as a 'free-enterprise Democrat' and spoke of wanting 'a strong center' that can 'land knockout punches against the MAGA right, their authoritarian, ethno-nationalist impulses, but also against the hard left.' Other proposals defy easy ideological categorization. Auchincloss wants to tax social media companies' digital advertising revenue, build 1,000 technical trade schools nationwide, and offer public-school students intensive tutoring to counteract learning loss during the pandemic. Advertisement In recent months, Auchincloss has made the rounds 'I'm running for reelection,' Auchincloss told me, This conversation is the first in a series about how Democrats are rebuilding. Send your ideas about who Starting Point should interview next — be they lawmakers, strategists, authors, or anyone else with something interesting to say — to Here's more from my discussion with Auchincloss: Democrats' midterm strategy: 'In 2026, I think the requirement for Democrats is to build a wide and thin coalition. Which is to say, if you're going to take back the House and the Senate from the GOP, you basically have to put down one pole in the ground that says, 'We're trying to support and defend the Constitution against a lawless, corrupt president.' And if you agree with that — if you agree that we don't want an unchecked, lawless, and corrupt president, even if you voted for him in 2024 — all we're saying is, 'Don't you just want a check on his power?'' Advertisement The next presidential election: 'The opportunity that 2028 presents us is, it's the first time in 20 years that we're going to have an open primary. It's the first time in 20 years, in a generation, to have an open primary. So put down the baggage of the past and have a vigorous, open debate. And one faction will win, and that faction should then pursue the mandate it's been given. It should not, I think, excessively then interweave itself with the other factions within the party. I think that faction has earned the right to govern and should pursue it.' Democrats' future platform: 'The analogy I use is, if you're a musician and you go out on tour and you've got an A side and a B side set of tracks that you're playing, you go, you do your concert, and you play all your songs, A side, B side songs, those are the ideas. The platform is what the crowd chants back. It's the lyrics that the crowd has memorized that they love and that you can stop singing, turn the microphone around, and they're singing it into the microphone. We can't know that platform until we go out and sing out some ideas.' How Trump's ' ,' which House Republicans passed last week, gives Democrats an opportunity: 'Their approach to taxing and spending is going to explode the national debt, adding at least $3 trillion over the next decade and really, if you look at the arc of this, to a point that the 10-year Treasury market and bond investors are saying is no longer sustainable. For 25 years, balancing the budget, getting serious with the national debt, has been sort of the issue that wasn't. I think the issue is now. Democrats have the opportunity, and indeed the responsibility, to become the party of fiscal responsibility.' Advertisement On winning back young men: 'Young men want to be challenged and they want to be recruited into a mission bigger than themselves. That's one of the reasons I joined the Marine Corps. I wanted to be challenged. I wanted to be part of something bigger than myself. We tell them, 'Hey, this country's got to get building again. We want a future that's built, not bought, and you've got to build it. We're going to build a thousand more trade schools, and we want you to graduate from high school with a marketable skill. And we don't think you're the problem, we think you're part of the solution.'' 🧩 7 Across: 76° POINTS OF INTEREST Crime scene tape tied to a signpost in Chelsea a day after a stabbing that killed Juan Carlos Lemus, 17, in March. Jessica Rinaldi/Globe Staff Boston and Massachusetts Big spending: The super PAC backing Josh Kraft for Boston mayor is spending 'They're afraid': In Chelsea, a close-knit, mostly Hispanic town, young people are becoming victims of violent crime in numbers Off the job? Many of the state's court-appointed lawyers, demanding higher pay, plan to Trump administration Memorial Day address: At Arlington National Cemetery, Trump praised fallen soldiers while also criticizing the Biden administration ('that was a hard four years') and defending his embattled Defense secretary ('a tough cookie'). ( Russia-Ukraine war: The Kremlin suggested Trump was suffering from 'emotional overload' after he called Vladimir Putin 'absolutely crazy' for continuing to attack Ukraine. ( Israel-Hamas war: Trump's envoy seems to have made little progress toward a new cease-fire, calling Hamas's response to his latest proposal 'disappointing and completely unacceptable.' ( RFK Jr.: Trump's health secretary is Off the hook: Trump pardoned a Virginia sheriff convicted of federal bribery charges. During sentencing, the administration's own US attorney wrote that the sheriff had 'sought to manipulate the judicial process and to evade responsibility for his crimes.' ( The Nation and the World Charles Rangel: The former Democratic congressman, who represented New York for 46 years and was the first Black chair of the powerful Ways and Means Committee, died at age 94. ( Liverpool crash: British police arrested a 53-year-old man after a car plowed into people celebrating Liverpool FC, injuring almost 50. Police don't suspect terrorism. ( Slap heard round the world: Video shows French President Emmanuel Macron's wife, Brigitte, appearing to push him in the face aboard the presidential plane. He said they were 'joking.' ( BESIDE THE POINT By Teresa Hanafin 🗓️ Free events: An art walk on Beacon Hill, live music at Club Café, a self-defense workshop in Allston, and ⛳️ Tips on having fun: The best mini golf on the Cape, family camps up north, and how to unplug Advertisement 👶🏼 Ms. Rachel's campaign: The wildly popular children's show host is using her platform to help children from Gaza wounded in the war. She sang one of her trademark songs with Rahaf, a 3-year-old double amputee from Gaza. ( 🌿 Worth a mint: Here are ❣️ A mother's faith: For decades, Eve Baer remained convinced that her son, unresponsive after a severe brain injury, was still conscious. Science eventually proved her right. ( 🚕 Get outta the way: Waymo's self-driving taxis may be coming to town, and Boston Drivers, those paragons of patience and politeness, 🧠 Progress: The FDA has approved a blood test to help diagnose Alzheimer's disease early, avoiding more costly and invasive measures. But it's not a cure. ( 😬 Hidden danger: Nicotine pouches, virtually undetectable when tucked inside your cheek, are the newest big thing. 🤖 'I'm afraid I can't do that': You may be familiar with the artificial intelligence that creates content based on inputs. But here comes agentic AI, 🎉 The WBUR Festival: This celebration of the station's 75th birthday runs from Thursday through Saturday at several venues along BU's stretch of Comm. Ave. ( Advertisement Thanks for reading Starting Point. This newsletter was edited by ❓ Have a question for the team? Email us at ✍🏼 If someone sent you this newsletter, you can 📬 Delivered Monday through Friday. Ian Prasad Philbrick can be reached at
Yahoo
21-05-2025
- Politics
- Yahoo
Community Focus: Rep. Jake Auchincloss on Trump's ‘big, beautiful bill'
PROVIDENCE, R.I. (WPRI) — After a 27-hour-long meeting in Washington, Massachusetts Congressman Jake Auchincloss joined 12 News at 4 to weigh in on President Donald Trump's so-called 'big, beautiful bill.' The sweeping proposal includes tax changes, spending cuts, and various reforms. Auchincloss warned it would significantly impact residents in Massachusetts and Rhode Island who rely on Medicaid for at-home care or receive health insurance through their employer. MORE: Trump looks to unite Republicans before key votes on tax cut bill Auchincloss also touched on Somerset's consideration to ban homeless encampments and Former President Joe Biden's recent prostate cancer diagnosis. Watch the full interview in the player above. Download the and apps to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Politico
14-05-2025
- Health
- Politico
Inside the marathon megabill markup
THE MEDICAID DEBATE BEGINS — Congressional Republicans began their sprint Tuesday to pass President Donald Trump's 'big beautiful bill' by Memorial Day. Democrats are making the process as painful as possible. Members of the House Energy and Commerce Committee are more than 17 hours into what could be a record-setting debate over their portion of the GOP's tax, energy and national security legislation. Democrats have been using the hearing to force a flurry of votes on doomed amendments. The exercise, says Rep. Jake Auchincloss, who sits on the committee, is putting pressure on vulnerable House Republicans. Democrats are 'building public awareness and we're getting receipts,' Auchincloss told Playbook over the phone between votes Tuesday. 'And it matters because, frankly, their proposals have already changed over the last three months as they come under public pressure,' he said. The proposal the committee is still voting on meets Republicans' goal of finding $880 billion in savings, according to estimates from the nonpartisan Congressional Budget Office. But it would leave around 7.6 million people uninsured and it could create a big hole in state budgets. That's a potential calamity for Massachusetts. 'There isn't the money at the state level to backfill this,' said Auchincloss, who's been in touch with Gov. Maura Healey and state House and Senate budget writers on the topic. In an interview on WBUR that aired Tuesday, Healey warned that 'people are going to die,' if cuts come to fruition. Democrats opened the hearing Tuesday afternoon by spotlighting people from their districts who they said could be impacted by Medicaid cuts in the Republican spending plan. Rep. Lori Trahan, who also sits on the committee, highlighted a Haverhill resident, Philip, who has a disability and uses Medicaid-funded programs to help him build job skills. Auchincloss described a family who relied on personal care attendants paid via Medicaid after the son was paralyzed in an accident and his father suffered a stroke. Republicans argue the changes would streamline Medicaid and shift the focus to serving the most vulnerable beneficiaries. But Auchincloss says the idea that waste, fraud and abuse is rampant in the federal health program isn't true. 'It's not that there aren't things that you can do to tighten up the program,' he said. Still: 'If Republicans were interested in improving Medicaid, there's a host of bipartisan initiatives they could work on with Democrats – but they're not interested in that.' GOOD WEDNESDAY MORNING, MASSACHUSETTS. POLITICO's Congress team has live coverage of the markups or you can tune in to the debate here. TODAY — Gov. Maura Healey delivers the open remarks at the ClimaTech 2025 Conference at 10:15 a.m. in Boston. Lt. Gov. Kim Driscoll moderates a panel on grid resilience at the conference at 11:15 a.m., chairs a Governor's Council meeting at 12:25 p.m. at the State House and joins a webinar on the state's new accessory dwelling unit law at 1 p.m. Attorney General Andrea Campbell speaks at Boston Spirit Magazine's 17th annual LGBT Executive Networking Night at 7 p.m. in Boston. Sen. Elizabeth Warren hosts a forum at 2:30 p.m. in D.C. as part of her 'Save Our Schools' campaign. Boston Mayor Michelle Wu hosts a press conference on the city's bond rating at 10 a.m. downtown, speaks at a reception for people who have opened a new family child care over the past three years through the Office of Early Childhood licensing program at 5:30 p.m. in Bacon Hill and attends the MassDems 'Chinatown Banquet Dinner' fundraiser at 6 p.m. Have a tip, story, suggestion, birthday, anniversary, new job, or any other nugget for the Playbook? Drop me a line: kgarrity@ DATELINE BEACON HILL — Healey unveils plan to target billions in savings for Mass. energy bills by Sabrina Shankman and Samantha J. Gross, The Boston Globe: 'In an effort to tackle [electricity and heating] costs, Governor Maura Healey proposed multiple changes and new initiatives for how energy is bought, financed, and billed in Massachusetts, measures that she said would save ratepayers some $10 billion over the next decade. Among the proposals: removing or drastically reducing charges now on utility bills, such as fees to subsidize energy efficiency programs, so that consumers are only charged for the costs of delivering energy to their homes, increasing accountability of utilities, and making it easier to add cutting-edge nuclear energy technologies to the grid.' — Scheduling underway for meeting with Canadian premiers in Boston by Chris Van Buskirk, Boston Herald: 'Gov. Maura Healey's administration said 'nearly all' of the six Canadian premiers invited to Boston to discuss the impacts of President Donald Trump's tariffs have said they are willing to meet. Healey and five other northeastern governors pitched the Canadian premiers on an in-person gathering as Trump has said he wants to make Canada the 51st state of the United States and has placed tariffs on exports from the country.' — Amid threats to federal funding, seniors push Mass. lawmakers to support housing, in-home care by Meghan Smith, GBH News. FROM THE HUB — Boston City Council set to vote on move to ranked-choice voting system for local elections by Gayla Cawley, Boston Herald: 'The Boston City Council is set to vote Wednesday on a home rule petition that seeks to overhaul the city's electoral system by replacing the traditional approach of electing city politicians by popular vote with a ranked-choice voting system. The petition, led by Council President Ruthzee Louijeune and co-sponsored by fellow progressive Democrat Councilors Julia Mejia and Henry Santana, seeks to change the city's voting system for municipal elections for mayor and city council.' THE RACE FOR CITY HALL — Wu administration puts City Hall attorney on leave amid his mayoral run by Gintautas Dumcius, CommonWealth Beacon: 'John F. Houton, the assistant corporation counsel who jumped into the mayoral race earlier this month, said his superiors put him on administrative leave on Friday. City officials also told him that they were looking to hire outside counsel to sort out whether it was possible for him to mount a campaign, according to Houton.' — As Michelle Wu seeks a second term, some fear her commitment to progressive causes has dimmed by Emma Platoff and Niki Griswold, The Boston Globe: 'The Michelle Wu who ran for mayor in 2021 used her platform to call for a municipal Green New Deal and a free T. She had recently advocated for a 10 percent cut to the Police Department budget, and said she would refuse campaign contributions from police officers and police unions. The Wu seeking reelection in 2025 has slammed the brakes on bus and bike lanes and proposed increasing the Police Department budget every year she has been in office. The words 'Green New Deal' rarely pass her lips anymore. And she has touted the endorsement of both the city's biggest police union and District Attorney Kevin Hayden, who just two years ago she snubbed in favor of a more progressive candidate.' — Candidate Kraft offers unclear recusal plan when family's involved in Boston business by Saraya Wintersmith, GBH News: 'Boston mayoral candidate Josh Kraft Tuesday failed to explain how he could recuse himself from conflicts of interest involving the city of Boston and his family's multi-pronged business if elected, potentially adding to concerns about the financial implications of his bid to lead the city.' MIGRANTS IN MASSACHUSETTS — Protesters at City Hall demand 'ICE out of Worcester' as council meeting goes virtual Adam Bass, MassLive: 'Outside of Worcester City Hall Tuesday evening, nearly 100 people rallied against Immigration and Customs Enforcement (ICE) agents and their recent arrest in Worcester. The protesters gathered on Worcester Common at 5:30 p.m. and called out ICE for its arrest of Rosane Ferreira-De Oliveira, a Brazilian mother of three currently being held in a Rhode Island facility, on Eureka Street on May 8.' RELATED — Trump's ICE Used a Woman's Kids and Grandchild as 'Bait' To Arrest Her by Asawin Suebsaeng and Ryan Bort, Rolling Stone: 'When U.S. Immigration and Customs Enforcement (ICE) arrested Rosane Ferreira de Oliveira last week in Worcester, Massachusetts, the situation rapidly devolved into chaos and community outrage. Multiple recordings of the incident went viral, but what bystanders did not capture on video was how federal agents were able to draw Ferreira-De Oliveira out in public where they could arrest her in the first place. ICE used Ferreira De Oliveira's loved ones to lure her out of her home — where agents couldn't arrest her — and onto Eureka Street, three people with direct knowledge of the matter and another source familiar with the situation tell Rolling Stone.' ALSO RELATED — Petty: 'Threats of violence' led to decision to close Worcester City Hall by Toni Caushi and Jesse Collings, Telegram & Gazette: 'Mayor Joseph M. Petty says the decision to close City Hall ahead of a May 13 meeting of the City Council followed 'threats of violence' against city officials.' — Two Guatemalan fisheries workers arrested in early-morning operation in New Bedford by Eleonora Bianchi, The New Bedford Light: 'Two Guatemalan men — one of whom is waiting for a kidney transplant — never made it to work at a seafood processing plant on Monday. Marvin Yobani Chitic Us, 30, and Justo Rufino Chitic Us, 33, both undocumented immigrants without any criminal history in Massachusetts, were allegedly taken into custody by federal agents before their early-morning shift at Oceans Fleet, where they have worked for years processing scallops. Though they share a surname, they are not related, their families say. YAHD SIGNS AND BUMPAH STICKAHS BREAKING THE STREAK — Republicans ended their special election winning streak Tuesday night, as Democratic Beverly City Councilor Hannah Bowen cruised to victory in the special election to replace former state Rep. Jerry Parisella. In a statement announcing her victory over Republican Medley Long III, Bowen thanked Beverly and Wenham residents for 'entrusting me to represent them on Beacon Hill.' 'At a time when things seem heavy, this campaign reminded me of what is possible when we bring people together,' Bowen said. More from the Salem News. ENDORSEMENT ALERT — Sen. Elizabeth Warren is backing Minnesota Lt. Governor Peggy Flanagan in the race to replace Democratic Sen. Tina Smith. Flanagan is a 'fighter,' Warren said, who is 'ready to take on corrupt special interests in order to make life better for working people.' 'She is the partner I need in the Senate to make real progress on the issues that matter to you,' Warren said in a video announcing her endorsement. Also in the race for the open seat: Democratic Rep. Angie Craig. — Republican candidate for governor Brian Shortsleeve raises over $135K in first 24 hours, campaign says by Chris Van Buskirk, Boston Herald: 'Brian Shortsleeve, a venture capitalist and former MBTA executive, raised more than $135,000 in the 24 hours since he announced he was running for governor as a Republican Monday morning, his campaign said in a statement to the Herald. Shortsleeve's haul, which cannot be verified with state campaign finance data until fundraising reports are filed at the end of the month, is more than his Republican primary opponent, Mike Kennealy, raised in the first month of campaigning.' MARIJUANA IN MASSACHUSETTS — Another departure from the beleaguered cannabis commission by Walter Wuthmann, WBUR: 'Just as the state's cannabis commission seemed to be emerging from months of turmoil, the unexpected resignation of one of its members this week threw it back into uncertainty. Commissioner Nurys Camargo announced Monday that she had 'made the decision to complete my service and step down.' Her term had been set to end Sept. 1. That means the five-member commission will soon be down to just three, because its chair was fired eight months ago and the seat remains vacant. All matters before the commission need three votes to pass, meaning any decision going forward would have to be unanimous.' FROM THE 413 — Easthampton's $62M budget for fiscal 2026 includes no layoffs, wage reductions by Alexa Lewis, Daily Hampshire Gazette. — The Pittsfield School Committee is poised to vote on an interim superintendent by Greg Sukiennik, The Berkshire Eagle. THE LOCAL ANGLE — Methuen councilor calls out 'culture of disrespect' by Teddy Tauscher, The Eagle-Tribune: 'A frustrated resident who attended last week's City Council meeting to speak about an issue with a neighbor and a lack of action from the city has raised concerns among city councilors. On May 5, Zenzo Matoga told the council that a city employee in the Inspections Department declined to intervene in a disagreement with his neighbors over their flood lights, which he said are causing his family to struggle with the glare.' MEANWHILE IN RHODE ISLAND — Providence leaders sound alarm over 'jam-packed' summer next year with World Cup by Alexandra Leslie, WPRI: 'Though the 2026 World Cup is expected to generate tourism and revenue in Southern New England next summer, some city leaders are warning about the level of planning that needs to be done in Providence.' HEARD 'ROUND THE BUBBLAH TRANSITIONS — Natalie Milewski, previously an account executive at Elevate Communications, has joined Prosek Partners. SPOTTED — NCAA president and former Massachusetts Gov. Charlie Baker on Capitol Hill to talk Name, Image and Likeness legislation with D.C. lawmakers. HAPPY BIRTHDAY — to Pam Wilmot, Lucy Martirosyan, Samuel Greer, Jeffrey Barrett, Alycia DiTroia, Sophia Nigro and Kylie Harrigan. Happy belated to Mary Garrity and Taylor Sprague, who celebrated Tuesday.
Business Mayor
04-05-2025
- Business
- Business Mayor
Shell reportedly weighing up merits of making move to buy BP
Shell is talking to advisers about the potential for a takeover of the rival oil producer BP, according to reports. The oil company has been discussing the feasibility and merits of a takeover of BP with its advisers in recent weeks, according to a report from Bloomberg, which cited people familiar with the matter. If this were to happen, it would mark one of the biggest deals ever in the oil and gas industry. Speculation about a possible takeover comes as BP's shares have suffered this year. They have fallen by more than 30% in the past 12 months as a turnaround plan under the chief executive, Murray Auchincloss, has failed to inspire investors and oil prices have fallen. Shell may also wait for BP to reach out for another possible suitor to make the first move, those familiar with the matter told Bloomberg. Deliberations are allegedly still in the early stages, and Shell could decide to focus on share buybacks and smaller acquisitions rather than such a big merger, according to the report. The combination of Britain's biggest oil companies would be one of the largest deals ever in the sector. Shell's market value of £145.6bn is more than double that of BP, at £55.9bn. A spokesperson for Shell told the Guardian: 'As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification.' A spokesperson for BP declined to comment. In February, Auchincloss promised to 'fundamentally reset' BP's strategy, with the changes expected to include a watering down of its climate commitments and the pursuit of new fossil fuel projects in an attempt to bolster its market value. Read More British Museum ends BP sponsorship deal after 27 years The company's profits dropped by almost 50% in the first three months of this year to $1.4bn (£1bn), down from $2.7bn in the same period last year. Its flagging share price has also made the company a target for the New York hedge fund Elliott Management. The shares have lagged behind other oil and gas firms in recent years after its former chief executive Bernard Looney set BP on course to become a net zero energy company. He left BP abruptly in September 2023 after admitting he failed to fully disclose his relationships with female colleagues to the board. skip past newsletter promotion Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion On Friday, Shell reported adjusted profits of $5.6bn in its first quarter, down 28% compared with the same period last year but ahead of what City analysts had been expecting. Wael Sawan, the chief executive of Shell, told the Financial Times that he would rather buy back more of the company's own shares than launch a takeover bid for BP. 'We will always look at these things, but you are also looking to see what is the alternative,' he said. 'Right now, buying back Shell for us continues to be absolutely the right alternative to go for.'
The Guardian
04-05-2025
- Business
- The Guardian
Shell reportedly weighing up merits of making move to buy BP
Shell is talking to advisers about the potential for a takeover of the rival oil producer BP, according to reports. The oil major has been discussing the feasibility and merits of a takeover of BP with its advisers in recent weeks, according to a report from Bloomberg, which cited people familiar with the matter. If this were to happen, it would mark one of the biggest deals ever in the oil and gas industry. Speculation about a possible takeover comes as BP shares have suffered this year. They have fallen by more than 30% in the past 12 months as a turnaround plan under the chief executive, Murray Auchincloss, has failed to inspire investors and oil prices have fallen. Shell may also wait for BP to reach out for another possible suitor to make the first move, those familiar with the matter told Bloomberg. Deliberations are allegedly still in the early stages, and Shell could decide to focus on share buybacks and smaller acquisitions rather than such a big merger, according to the report. The combination of Britain's biggest oil majors would be one of the biggest deals ever in the sector. Shell's market value of £145.6bn is more than double the size of BP, at £55.9bn. A spokesperson for Shell told the Guardian: 'As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification.' A spokesperson for BP declined to comment. Earlier this year Auchincloss promised to 'fundamentally reset' BP's strategy, with the changes expected to include a watering down of its climate commitments and the pursuit of new fossil fuel projects in an attempt to bolster its market value. The company's profits dropped by almost 50% in the first three months of this year to $1.4bn (£1bn), from $2.7bn in the same period last year. Its flagging share price has also made the company a target for the New York hedge fund Elliott Management. BP shares have lagged behind other oil and gas companies in recent years after its former chief executive Bernard Looney set the company on course to become a net zero energy company. He left BP abruptly in September 2023 after admitting he failed to fully disclose his relationships with female colleagues to the board. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Last week Shell reported adjusted profits of $5.6bn in its first quarter, down 28% compared with the same period last year but ahead of what City analysts had been expecting. Wael Sawan, the chief executive of Shell, told the Financial Times last week that he would rather buy back more of the company's own shares than launch a takeover bid for BP. 'We will always look at these things, but you are also looking to see what is the alternative,' he told the paper. 'Right now, buying back Shell for us continues to be absolutely the right alternative to go for.'
