The Financial Times reports that US energy giant Chevron has agreed to buy oil and gas producer Hess in a $53bn deal. The paper says the move will give Chevron “a foothold in Guyana, home to the biggest oil discovery of the past decade” and that it shows the company is “doubling down on its bet that demand for fossil fuels will remain robust for decades to come”.
Sources suggest the UK has moved past its technical recession with first-quarter growth surpassing that of the US and Eurozone, a positive development for Rishi Sunak.