ENvue Medical Announces 1-for-12 Reverse Stock Split

U.S. President Trump announced an agreement to secure majority control of 65 billion barrels of Venezuela's oil reserves, with Chevron preparing to expand projects. The deal aims to increase U.S. crude supplies and invest in Venezuela's energy sector, though legal and financial details remain unclear. Chevron expects to finalize negotiations for greater control and expansion of its Venezuelan operations.

HDFC Bank, India's largest private lender, announced CEO Sashidhar Jagdishan will step down in October, not seeking reappointment. This follows governance concerns, regulatory scrutiny, and a 27% stock decline since January. The bank's board previously penalized Jagdishan for business overreach. Investors have also been disappointed by lack of financial gains from the 2023 merger with HDFC Ltd.

US public concern over AI, data centers, and social media is rising. Pew Research shows 50% of Americans are more worried than excited about AI. CNBC's Generation Lab survey found low trust in tech CEOs like Dario Amodei, Sam Altman, and Mark Zuckerberg. Data center projects worth $130B faced delays due to local opposition. Meta settled a $17B lawsuit over child safety on Facebook and Instagram.

Woodside Energy abandoned its long-term Scope 3 climate targets, including a US$5 billion clean-energy investment plan. The company reported a 7% rise in underlying net profit to US$1.33 billion and a 27% increase in statutory net profit to US$1.67 billion. Woodside's Senegalese field, Sangomar, is central to its strategy, with production averaging 99,000 barrels per day. The company is also in a tax arbitration with Senegal's government over a US$68 million reassessment.

A Brazilian court approved Braskem's out-of-court reorganization plan, shielding it from creditor claims. The plan covers $10.9B in unsecured debt and has a 90-day window for creditor support. Braskem's shares rose 3.55% on the news, but cash flow remains a constraint.

Electrovaya and Amazon expanded their commercial agreement, with Amazon receiving warrants for up to 13.9 million Electrovaya shares upon achieving $280 million in purchases. The deal includes potential applications in robotics and energy storage. Electrovaya's CEO views this as strong validation of their technology. Additionally, Electrovaya's partnership with Sumitomo is driving growth in the Asia-Pacific region, with material deliveries expected from fiscal 2027.