ConocoPhillips is doubling down on its commitment to the Midland basin by buying Concho Resources Inc. in “an all-stock transaction valued at $9.7 billion,” even “as the American shale-drilling industry is facing a downturn...more
Markets took a beating yesterday, with investors apparently put off by tech stocks, tensions with China, a recent jump in interest rates and government bond yields, and a tightening Fed monetary policy....more