Latest news with #Auchincloss'
Politico
01-07-2025
- Politics
- Politico
Markey marks his territory
TURF WAR — Sen. Ed Markey is rolling out more than two dozen new endorsements this morning from current and former state and local officials from across a swath of the state. At first glance, there's no clear connection between the 26 politicians on the list — which includes state Sen. Michael Rodrigues, Bristol County Sheriff Paul Heroux and Middlesex County District Attorney Marian Ryan. But they share one not-so-subtle connection: The area they represent spans Massachusetts' 4th Congressional District. That just happens to be the home turf of Rep. Jake Auchincloss, one of Markey's more regularly mentioned possible primary challengers. Auchincloss, who won the seat former Rep. Joe Kennedy III vacated to challenge Markey in 2020 (getting drubbed by double digits) has said he plans to run for reelection to Congress. But when pressed during an interview on WCVB's 'On the Record' at the start of the year, he didn't close the door on the idea. 'I don't rule things out proactively. I'm running for reelection to be a member of Congress,' he said. The slew of endorsements Markey's campaign is rolling out this morning also includes a batch of politicians from Newton, Auchincloss' hometown. State Reps. Amy Mah Sangiolo and Greg Schwartz, and former state Reps. Kay Khan and Ruth Balser are on the list, as is the city's mayor, Ruthanne Fuller. Markey, Fuller said in a statement, 'has consistently delivered for our families. Newton needs him back in the Senate as our advocate and champion.' Rounding out the list: State Reps. Kevin Honan, John Lawn, Brian Murray, Jeff Roy, Bill MacGregor, Josh Tarsky, Adam Scanlon, Tommy Vitolo, Jim Hawkins, Alan Silvia, Steve Ouellette and James Arena-DeRosa — and Fall River Mayor Paul Coogan, Middlesex County Sheriff Peter Koutoujian, former state Sen. Marc Pacheco, former state Rep. Paul Schmid and former Taunton mayors Thomas Hoye Jr. and Bob Nunes. Point of intrigue: Some of the names are the same ones that have been floated as potential candidates for Auchincloss' seat, should it open up. Markey didn't address the congressional district connection in a statement shared with Playbook. Instead, he said he's 'deeply grateful to have the support of these tremendous leaders who are dedicated to fighting every day for the health, safety, and futures of Massachusetts communities.' GOOD TUESDAY MORNING, MASSACHUSETTS. The congressional tax bill could cover the cost of 10,000 Jayson Tatums, per the Boston Globe. Imagine how many Luke Kornets that would be. TODAY — Gov. Maura Healey has no public events. Lt. Gov. Kim Drsicoll speaks at the opening of a senior living community in what was formerly a high school at 11 a.m. in Beverly. Boston Mayor Michelle Wu is on SparkFM at 10 a.m., cuts the ribbon at the grand opening of Mendez Barbershop at 10:45 a.m. in West Roxbury and attends the Somali Independence Day Festival at 4:15 p.m. Have a tip, story, suggestion, birthday, anniversary, new job, or any other nugget for the Playbook? Drop me a line: kgarrity@ EYES ON 2026 FIRST IN PLAYBOOK — Democratic congressional hopeful Patrick Roath, who is challenging Democratic Rep. Stephen Lynch, will report raising more than $286,000 from early May to the end of June, according to his campaign. Roath's haul is close to half of the more than $590,000 a former Lynch primary challenger, Robbie Goldstein, raised from 2019 to 2020 when he ran. The second quarter covers fundraising from April 1 through June 30, but Roath didn't officially launch his campaign until early May. Federal Election Commission reports are due July 15. Lynch still holds the cash advantage, with more than $1 million in his campaign coffers as of the end of March. DATELINE BEACON HILL — Beacon Hill Democrats ship Gov. Healey budget accord that boosts reliance on surtax by Chris Van Buskirk, Boston Herald: 'Massachusetts lawmakers sent a $61 billion budget to Gov. Maura Healey Monday that requires residential brokers' fees to be covered by the party that enlists those services and boosts the state's reliance on a surtax on incomes over $1 million. The votes to advance the budget marked the first time since 2016 that lawmakers have sent a spending plan to the governor before the start of the next fiscal year. But Massachusetts is still set to kick off fiscal 2026 without a budget in place because Healey gets 10 days to review the proposal.' IN OTHER BUDGET NEWS — 'How do you negotiate with that?' Massachussets lawmakers cut a proposed pay hike for court-appointed attorneys amid work stoppage. by Matt Stout, The Boston Globe: 'Massachusetts legislative leaders sliced a measure from their $61 billion budget plan that would have raised the pay for some, but not all, of the state's court-appointed attorneys at a time many are already refusing to take new cases over pay rates they say are too low. Democratic leaders' decision to omit the proposal from their wider spending plan frustrated attorneys, known as bar advocates, who in late May launched a work stoppage that has pushed the state's courts to a breaking point. The measure contained in an earlier budget bill was far more limited than what attorneys have sought, and several said Monday it would not have addressed some of their deeper concerns about how bar advocates are compensated. The decision to cut it out of the final package nevertheless sent a message, they said.' — Healey administration shutters hotels, transfers families through HomeBASE program by Sarah Betancourt, GBH News: 'The Healey administration has closed all but a handful of hotel shelters, with two dozen programs shuttering this month alone. The remaining four hotel shelters will close by July 31. 'Providers and on-site case managers have been working closely with all impacted families to help them identify secure housing before the closing date,' said a spokesperson for the Executive Office of Housing and Livable Communities in an emailed message. At the start of the month, there were 623 families in the 24 hotel programs set to close by the end of June. Thirty total families are moving out of the 11 hotel shelters closing just today, and the rest have been transferred.' RELATED — 'I'm really worried.' With the state's hotel shelter system closing, families struggle to find places to live. by Giulia McDonnell Nieto del Rio and Jade Lozada, The Boston Globe. — Maura Healey loves TripAdvisor, values a good souvenir, and would travel with Oprah if she could by Juliet Pennington, The Boston Globe. FROM THE HUB — Boston fire union backs tax provisions in President Trump's 'big beautiful bill' amid local tensions by Gayla Cawley, Boston Herald: 'Boston fire union leadership was featured in an official White House promotional video for President Donald Trump's 'big beautiful bill' proposal, speaking about the benefits they see in some of its tax breaks for firefighters. Sam Dillon and Leroy Heyward, the respective president and vice president of Boston Firefighters Local 718, joined leadership from the International Association of Fire Fighters in throwing their support behind certain tax provisions in the bill, in an Instagram video posted by the official White House account last Saturday.' — New England's first public housing complex is getting a makeover by Katie Lannan, GBH News: 'One of the largest public housing complexes in New England will get a complete overhaul over the next two decades in a redevelopment effort that kicked off Monday with a ceremonial groundbreaking. All 1,016 affordable apartments in the Mary Ellen McCormack complex in South Boston will be replaced throughout the course of the project, which will also add more than 2,000 new market-rate and middle-income homes.' — As foreign students reconsider coming to Boston, local businesses prepare for fallout by Tréa Lavery, MassLive. — Ruthzee Louijeune is the city's first Haitian American City Council president. Now she's fighting the Trump administration on immigration. by Jule Pattison-Gordon, Governing. FROM HARVARD YARD — Harvard inches closer to losing more federal money after civil rights accusation by Juan Perez Jr. and Megan Messerly, POLITICO: 'The Trump administration formally accused Harvard University of violating federal civil rights laws and failing to mount an appropriate response to alleged campus antisemitism. Monday's notice marked a stark and renewed threat to Harvard's federal funding amid quiet negotiations between the elite school and government authorities that have otherwise been replete with court fights, threats to Harvard's research funding and foreign student enrollment — and the recent possibility of a detente raised by President Donald Trump.' WARREN REPORT — Senators slam Lloyd Austin over new consulting firm by Daniel Lippman, POLITICO: 'Sens. Elizabeth Warren and Rick Scott are blasting former Defense Secretary Lloyd Austin for starting a D.C. consulting firm after saying he would not become a lobbyist after leaving the government. '[T]his move is particularly disappointing because you made a clear promise during your nomination hearing to uphold the public trust,' the bipartisan duo said in a letter to Austin on Monday obtained by POLITICO.' WATCH — Elizabeth Warren shocked to find agreement with Musk over megabill via CNN. DATELINE D.C. — The Senate megabill is on a collision course with House fiscal hawks by Benjamin Guggenheim, POLITICO: 'House fiscal hawks are looking at the math underlying Senate Republicans' sprawling domestic policy legislation, and they don't like what they see. As Senate Republicans try to muscle President Donald Trump's 'big, beautiful bill' for final passage, they're on track to violate a budget framework brokered between House fiscal hawks and Speaker Mike Johnson. Under that framework, if the GOP piles on tax cuts over $4 trillion, they'd need to match them dollar-for-dollar with additional spending cuts beyond the $1.5 trillion in the House-passed bill.' FROM THE 413 — Police misconduct, employment allegations have cost Springfield a whopping $11 million in recent years by Danny McDonald, The Boston Globe: 'In one case, police officers allegedly stomped on a man in a package store, breaking his nose and ankle. In another confrontation, cops allegedly shot an unarmed man twice. In a third, a woman died after complaining about chest pains and breathing difficulties while in police custody. In the wake of each of those instances, the City of Springfield paid money to settle claims of police misconduct. In a city dogged by allegations of endemic police malfeasance and corruption in recent years, Springfield has ponied up more than $11 million in taxpayer money to address claims of law enforcement wrongdoing since the second half of 2019, a Globe review of public records has found.' THE LOCAL ANGLE — Nearly 1 year after death of state Trooper Delgado-Garcia, family, lawmakers await answers by Kinga Borondy, Telegram & Gazette: 'Two months shy of the first anniversary of the death of Trooper Enrique Delgado-Garcia, the investigation into the circumstances surrounding his collapse and demise is yet to be finalized. Worcester city records show the cause of death is still pending on his death certificate. Like the cadet's family, Worcester lawmakers are awaiting the findings of an ongoing inquiry.' — Congress may cut funding to MassHealth. For some in New Bedford, it's a major source of support. by Abigail Pritchard, The New Bedford Light. HEARD 'ROUND THE BUBBLAH HAPPY BIRTHDAY — to Tara Healey, Pierson Fowler and Amy Blum.
Yahoo
28-05-2025
- Business
- Yahoo
BP Begins Sale of Castrol in $20B Asset Divestment Strategy
BP plc BP, the UK-based energy major, has officially launched the sale of its Castrol lubricants business, marking a significant move in the British energy giant's plan to raise $20 billion by 2027 through asset sales. The divestment aims to streamline BP's portfolio and strengthen its financial footing amid strategic recalibration under CEO Murray Auchincloss. According to sources familiar with the matter, BP has enlisted Goldman Sachs to handle the sale process and has already circulated an information memorandum to potential strategic and private equity bidders. While BP declined to confirm specific details, it noted that its broader divestment program was "progressing," with $1.5 billion in deals already signed. Founded in 1899, Castrol is one of the world's most recognized lubricant brands, with operations spanning over 150 countries. It has also enjoyed a high-profile sponsorship history in motorsports, including partnerships in Formula 1 and the World Rally Championship. BP acquired Castrol in 2000 for approximately £3 billion, integrating it into its downstream business. The lubricants unit is now viewed as a valuable standalone asset. Analysts at Bernstein estimate that the sale could fetch $10-$11 billion, making it one of the largest in BP's current divestment pipeline. The Castrol sale is part of BP's broader restructuring effort, which includes evaluating several other non-core assets. This includes plans to divest the Gelsenkirchen refinery in Germany, retail operations in Austria, and a 50% stake in Lightsource bp — BP's solar energy joint venture. Bidders for the Lightsource stake are expected to be shortlisted in July. BP's asset sales decision followed as activist investor Elliott Management pressured the company for strategic changes and operational efficiencies. The move also reflects CEO Auchincloss' return to traditional hydrocarbons, cutting back on low-carbon investments in favor of boosting returns from oil and gas. Earlier reports indicated that Saudi Aramco had expressed interest in Castrol. While no bidder has been officially named, the commencement of the formal sale process and the hiring of Goldman Sachs signal increasing momentum. BP's divestment program will continue to be closely watched as the company seeks to realign its business mix and respond to investor calls for improved performance and strategic clarity. BP currently carries a Zack Rank #5 (Strong Sell). Investors interested in the energy sector may look at some better-ranked stocks like Subsea 7 S.A. SUBCY, Energy Transfer LP ET and RPC Inc. RES. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while Energy Transfer and RPC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. Subsea 7helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore. The Zacks Consensus Estimate for SUBCY's 2025 EPS is pegged at $1.31. The company has a Value Score of A. Energy Transfer is poised to benefit from long-term fee-based commitments. It is also focused on expanding operations through organic and inorganic initiatives. The firm is looking for solutions to meet growing energy demands from additional demand centers through its pipeline network. Energy Transfer's systematic investments should boost its total fractionation capacity at Mont Belvieu and raise its top line. The Zacks Consensus Estimate for ET's 2025 EPS is pegged at $1.44. The company has a Value Score of A. RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. The company is strongly committed to returning value to shareholders through consistent dividends and share buybacks. RPC's current dividend yield is higher than that of the composite stocks in the industry. Its new Tier IV dual-fuel fleet has boosted profits, with plans to further expand high-efficiency equipment to enhance operational capabilities. The Zacks Consensus Estimate for RES' 2025 EPS is pegged at 38 cents. The company has a Value Score of A. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-03-2025
- Business
- Yahoo
Auchincloss says he'll fight for Fall River Social Security office: His take on 5 issues
FALL RIVER — About 300 people from across southern Massachusetts turned out for a town hall hosted by U.S. Rep. Jake Auchincloss on Saturday afternoon, where the congressman promised to fight a potential closure of the Social Security Administration office. For a little over an hour, the third-term congressman responded to questions from the crowd on everything from President Donald Trump's opposition to diversity, equity and inclusion policies, to the bankruptcy of Steward Health Care, to high energy bills. Auchincloss' district stretches as far north as Brookline and Newton, and south to much of Bristol County. Here are five topics covered at Auchincloss' town hall: Even before members of the audience broached the subject, Auchincloss said, "Right now we are fighting to keep the Social Security office here in Fall River open.' On March 4, the U.S. General Services Administration published a list that identified 440 'non-core assets,' mainly buildings and office space, it said were not essential to government operations, and said it intended to sell, lease or otherwise dispose of them. On this list was the Social Security Administration office at 400 N. Main St. Steve Camara, a former city councilor, said that office served vulnerable people in Fall River, including the disabled and elders 'who need a hands-on, concrete place to go' for Social Security services instead of the Internet. Auchincloss agreed, saying, 'You can have my word that I'll be fighting very hard on that front.' However, the GSA removed that list a day after it was published. Only two federal properties are currently listed for sale, both in California. The GSA website says a new list of non-core assets is 'coming soon.' 'Non-core assets': Two Southcoast office buildings make Trump's list to be sold Calling affordable housing 'the single biggest economic challenge facing Massachusetts,' Auchincloss advocated for increasing the overall supply of housing, particularly affordable units. 'Like any market, if you want the price to go down, have increased supply,' Auchincloss said. 'Increasing supply of housing is an important step.' He told the crowd that, at the federal level, he has advocated for expanding the low-income housing tax credit, which would 'induce developers to build deed-restricted affordable housing,' and wanted to offer developers lower-cost loans to help them get the money to build. 'In the city of Boston, there's 30,000 units of housing permitted, but no shovels in the ground,' he said. 'It's not actually a zoning problem at that point. It's a cost-to-capital issue.' But he said this was a high-priority problem. 'We've got to get 10 million units of housing built in the next 10 years or else the average American will have 40% to 50% of their household budget going to the cost of housing, and that's just not tenable,' he said. Auchincloss said he understood that constituents are 'struggling with high energy bills right now. They have surged in recent months.' Noting the state legislators in the front row, including state Sen. Michael Rodrigues, and state Reps. Carole Fiola, Justin Thurber, Alan Silvia, and Steven Ouellette, Auchincloss said they're 'all over this.' 'The best way I can help is by continuing to fund the Low-Income Heating and Energy Assistance Program, which is somewhat inaccurately named because it's actually not just reserved for very low-income individuals," he said. 'It's open to many who have middle-class salaries as well.' Asked what he could do to help with the issue of homelessness in Fall River, Auchincloss said, 'Homelessness is a function really of two broad vectors. One is the cost of housing, and the other is mental health and substance abuse disorders.' Auchincloss said he has backed plans to increase affordable housing, including the HOME Investment Partnerships Program through the federal Department of Housing and Urban Development, and helped acquire grants from the Substance Abuse and Mental Health Services Administration. Funds from SAMHSA pay to run the city's FAST team, its homeless outreach arm. When asked why undocumented migrants are receiving shelter services that seem to be in excess of what homeless citizens receive, Auchincloss said any blame needed to be shifted from the state to the federal level. 'Massachusetts is paying a lot of money for migrant housing, there's no way around it," he said. 'That is not Massachusetts' fault. In fact, I think the Statehouse has responded relatively ably to it. That's Congress' fault. Congress did not tackle border security and immigration legislation.' Speaking after the meeting to The Herald News, Auchincloss addressed Trump's often-repeated stance opposing offshore wind energy, which could affect projects on the SouthCoast. Just days before Trump's inauguration, Prysmian Group announced it would no longer be building a factory in Somerset to manufacture cables that connect offshore wind turbines to shore. 'The president issued a moratorium against wind. That's the direct reason why Prysmian pulled up stakes,' Auchincloss said. Prysmian's official statement cites an alignment of 'market opportunities' relative to demand; it does not mention Trump. Auchincloss said given that the president has opposed wind-energy projects, 'What we need to be focused on is economic development for Brayton Point beyond that cable manufacturing plant, and I'll support state and local efforts to do that.' This article originally appeared on The Herald News: Auchincloss says he'll fight for Fall River Social Security office
Yahoo
08-03-2025
- Business
- Yahoo
Auchincloss says he'll fight for Fall River Social Security office: His take on 5 issues
FALL RIVER — About 300 people from across southern Massachusetts turned out for a town hall hosted by U.S. Rep. Jake Auchincloss on Saturday afternoon, where the congressman promised to fight a potential closure of the Social Security Administration office. For a little over an hour, the third-term congressman responded to questions from the crowd on everything from President Donald Trump's opposition to diversity, equity and inclusion policies, to the bankruptcy of Steward Health Care, to high energy bills. Auchincloss' district stretches as far north as Brookline and Newton, and south to much of Bristol County. Here are five topics covered at Auchincloss' town hall: Even before members of the audience broached the subject, Auchincloss said, "Right now we are fighting to keep the Social Security office here in Fall River open.' On March 4, the U.S. General Services Administration published a list that identified 440 'non-core assets,' mainly buildings and office space, it said were not essential to government operations, and said it intended to sell, lease or otherwise dispose of them. On this list was the Social Security Administration office at 400 N. Main St. Steve Camara, a former city councilor, said that office served vulnerable people in Fall River, including the disabled and elders 'who need a hands-on, concrete place to go' for Social Security services instead of the Internet. Auchincloss agreed, saying, 'You can have my word that I'll be fighting very hard on that front.' However, the GSA removed that list a day after it was published. Only two federal properties are currently listed for sale, both in California. The GSA website says a new list of non-core assets is 'coming soon.' 'Non-core assets': Two Southcoast office buildings make Trump's list to be sold Calling affordable housing 'the single biggest economic challenge facing Massachusetts,' Auchincloss advocated for increasing the overall supply of housing, particularly affordable units. 'Like any market, if you want the price to go down, have increased supply,' Auchincloss said. 'Increasing supply of housing is an important step.' He told the crowd that, at the federal level, he has advocated for expanding the low-income housing tax credit, which would 'induce developers to build deed-restricted affordable housing,' and wanted to offer developers lower-cost loans to help them get the money to build. 'In the city of Boston, there's 30,000 units of housing permitted, but no shovels in the ground,' he said. 'It's not actually a zoning problem at that point. It's a cost-to-capital issue.' But he said this was a high-priority problem. 'We've got to get 10 million units of housing built in the next 10 years or else the average American will have 40% to 50% of their household budget going to the cost of housing, and that's just not tenable,' he said. Auchincloss said he understood that constituents are 'struggling with high energy bills right now. They have surged in recent months.' Noting the state legislators in the front row, including state Sen. Michael Rodrigues, and state Reps. Carole Fiola, Justin Thurber, Alan Silvia, and Steven Ouellette, Auchincloss said they're 'all over this.' 'The best way I can help is by continuing to fund the Low-Income Heating and Energy Assistance Program, which is somewhat inaccurately named because it's actually not just reserved for very low-income individuals," he said. 'It's open to many who have middle-class salaries as well.' Asked what he could do to help with the issue of homelessness in Fall River, Auchincloss said, 'Homelessness is a function really of two broad vectors. One is the cost of housing, and the other is mental health and substance abuse disorders.' Auchincloss said he has backed plans to increase affordable housing, including the HOME Investment Partnerships Program through the federal Department of Housing and Urban Development, and helped acquire grants from the Substance Abuse and Mental Health Services Administration. Funds from SAMHSA pay to run the city's FAST team, its homeless outreach arm. When asked why undocumented migrants are receiving shelter services that seem to be in excess of what homeless citizens receive, Auchincloss said any blame needed to be shifted from the state to the federal level. 'Massachusetts is paying a lot of money for migrant housing, there's no way around it," he said. 'That is not Massachusetts' fault. In fact, I think the Statehouse has responded relatively ably to it. That's Congress' fault. Congress did not tackle border security and immigration legislation.' Speaking after the meeting to The Herald News, Auchincloss addressed Trump's often-repeated stance opposing offshore wind energy, which could affect projects on the SouthCoast. Just days before Trump's inauguration, Prysmian Group announced it would no longer be building a factory in Somerset to manufacture cables that connect offshore wind turbines to shore. 'The president issued a moratorium against wind. That's the direct reason why Prysmian pulled up stakes,' Auchincloss said. Prysmian's official statement cites an alignment of 'market opportunities' relative to demand; it does not mention Trump. Auchincloss said given that the president has opposed wind-energy projects, 'What we need to be focused on is economic development for Brayton Point beyond that cable manufacturing plant, and I'll support state and local efforts to do that.' This article originally appeared on The Herald News: Auchincloss says he'll fight for Fall River Social Security office
CNN
26-02-2025
- Business
- CNN
BP cuts investment in clean energy and boosts oil and gas in major strategy shift
BP slashed planned investment in renewable energy and said Wednesday that it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and shareholder returns. The oil giant cut planned annual investment in energy transition businesses by more than $5 billion, compared with its previous forecast, to between $1.5 billion and $2 billion per year. 'We will be very selective in our investment in the transition, including through innovative capital-light platforms. This is a reset BP, with an unwavering focus on growing long-term shareholder value,' CEO Murray Auchincloss said. Under Auchincloss' predecessor, Bernard Looney, BP (BP) pledged in 2020 to cut oil and gas output by 40% while rapidly growing renewables by 2030. BP lowered the reduction target to 25% in 2023. BP now aims to grow oil and gas production. Across the energy sector, major companies that shifted their position in response to the need to lower carbon emissions and curb climate change have returned their focus to oil and gas, where returns have become easier to obtain as fossil fuel prices have rebounded from Covid-19 pandemic lows. BP is seeking to regain investor confidence after underperforming its peers and has come under added pressure to make transformative changes after activist investor Elliott Investment Management built a stake in the company. 'The refocus on hydrocarbons is positive for BP as is the overall lower spending, which is driven by lower renewable spending,' said Allen Good, director of equity research at Morningstar. 'Along with the asset divestitures it should improve the balance sheet and returns. However, there still is little, if any, production growth,' Good said. BP said it was reviewing its lubricants business, Castrol, and targeting $20 billion in divestments by 2027. The company plans to raise its dividend by at least 4% per share annually and expects first-quarter share buybacks of $750 million to $1 billion.
