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Here’s Why Chevron (CVX) Traded Lower in Q2

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Cullen Capital Management, LLC, operating under the name Schafer Cullen Capital Management, Inc. (SCCM), has released its “SCCM Enhanced Equity Income Fund” second-quarter investor letter. A copy of the letter can be downloaded here. US equities surged in the second quarter, with the S&P 500 gaining 10.9% while the Russell 1000 Value was up 3.8%. The composite underperformed both of its benchmarks in the second quarter, returning -1.2% (net) compared to a 1.9% return by the S&P 500 Buy-Write Index (BXM) and a 3.7% return by the SPDR Bloomberg High Yield Bond ETF (JNK). In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.

In its second-quarter 2025 investor letter, SCCM Enhanced Equity Income Fund highlighted stocks such as Chevron Corporation (NYSE:CVX). Chevron Corporation (NYSE:CVX) engages in integrated energy and chemicals operations that operate through Upstream and Downstream segments. The one-month return of Chevron Corporation (NYSE:CVX) was 6.08%, and its shares gained 8.55% of their value over the last 52 weeks. On August 29, 2025, Chevron Corporation (NYSE:CVX) stock closed at $160.60 per share, with a market capitalization of $323.58 billion.

SCCM Enhanced Equity Income Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its second quarter 2025 investor letter:

“Chevron Corporation (NYSE:CVX) – Our position in Chevron was sold during the quarter. Chevron continues to offer a high quality asset base, strong balance sheet, and attractive dividend profile. However, with the pending Hess acquisition and ongoing arbitration process creating some uncertainty around timing and integration, we saw an opportunity to rotate into ConocoPhillips. While the transaction is strategically sound, expected free cash flow contributions are more weighted toward the back half of the decade. We initiated a position in ConocoPhillips, which offers similar upstream exposure, a clearer near-term cash flow inflection, and trades at a meaningfully lower valuation.”

Jim Cramer on Chevron Corporation (CVX) – “Like Oil? Then Chevron’s a Terrific Place to Be with That 4.8% Yield”
Jim Cramer on Chevron Corporation (CVX) – “Like Oil? Then Chevron’s a Terrific Place to Be with That 4.8% Yield”

Chevron Corporation (NYSE:CVX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 76 hedge fund portfolios held Chevron Corporation (NYSE:CVX) at the end of the second quarter, which was 81 in the previous quarter. While we acknowledge the potential of Chevron Corporation (NYSE:CVX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

EU chief von der Leyen’s plane hit by suspected Russian GPS interference

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The navigation system of a plane carrying Ursula von der Leyen was disrupted due to suspected Russian interference, the European Commission said.

A spokesperson said the “GPS jamming” happened while the Commission president was about to arrive in Bulgaria on Sunday, but she still landed safely.

They added: “We have received information from the Bulgarian authorities that they suspect that this was due to blatant interference by Russia.”

The Financial Times, citing unnamed officials, reported that von der Leyen had to land at Plovdiv Airport using paper maps.

The Bulgarian government confirmed that during the flight, “the satellite signal transmitting information to the plane’s GPS navigation system was neutralised”.

The statement continued: “To ensure the flight’s safety, air control services immediately offered an alternative landing method using terrestrial navigation tools.”

Bulgaria’s Air Traffic Services Authority told the paper that there had been a “notable increase” in navigation jamming since January 2022.

The Kremlin told the FT that its information was “incorrect”.

Foreign students face murky visa conditions under Trump

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International students looking to study in the U.S. are getting very mixed signals from the Trump administration. 

Days after President Trump said it is “very important” to have Chinese students at American schools, prompting backlash from his MAGA base, his administration proposed a rule change capping a foreign student’s stay to four years to complete a degree and requiring special approval to stay longer.  

“For too long, past Administrations have allowed foreign students and other visa holders to remain in the U.S. virtually indefinitely, posing safety risks, costing untold amount of taxpayer dollars, and disadvantaging U.S. citizens,” a Department of Homeland Security (DHS) spokesperson said in the release. 

But hundreds of thousands of foreign students in the U.S. are graduate students, with a Ph.D. program taking as long as eight years in some cases. 

Experts worry the new approval won’t be a smooth process would disrupt international students’ studies, causing them to seek universities in other countries despite the president looking for more students to come to the U.S. 

Trump had already made sweeping student visa crackdowns a key part of his immigration policies, with the State Department announcing in August that more than 6,000 such visas had been revoked since he returned to office. Foreign students are also dealing with new screening procedures than have many scrubbing their social media in fear.

And now, in order to stay in the U.S. for a longer degree, they would have to apply to reauthorization through the United States Citizenship and Immigration Services (USCIS). 

The problem, advocates say, is that USCIS is already backed up, and delays in reauthorizations would put education plans at risk.  

“If we had a well-oiled machine at USCIS working to make these approvals happen quickly, it wouldn’t be as much of a problem. This is bad policy because it will make USCIS processing even more backlogged, and that’s going to make it harder for students to gain legal approval to stay in the United States,” said Jill Allen Murray, deputy executive director of the Association of International Educators. 

The Hill has reached out to DHS for further comment.

Others advocates questioned the administration’s argument that widespread abuse has occurred by previously allowing students to apply just once. 

“We looked at what they put in the rule and in the justification for the rule, and they said that there were about 2,100 people who came in between the year 2000 and 2010 that were still in active F-1 status. We calculated what that meant, that meant that comes to 0.06 percent of the estimated more than 3 million people who came in as F-1 students on visas during that time period,” said Stuart Anderson, executive director for the National Foundation for American Policy. 

“So, to justify putting new burdens on 99.93 percent of international students … that doesn’t seem like a very intelligent approach, and it seems more grasping at a justification rather than an actual reason,” he added. 

The rule proposal adds to an already confusing situation after Trump last week emphasized that students from China would still be welcome, despite Secretary of State Marco Rubio earlier saying he planned to “aggressively” revoke visas from Chinese students, particularly those “with connections to the Chinese Communist Party or studying in critical fields.”

“I hear so many stories about, ‘We’re not going to allow their students,’” Trump said last Monday. “We’re going to allow their students to come in. We’re going to allow it. It’s very important — 600,000 students. It’s very important.” 

While China has been one of the top exporters of foreign students to the U.S., in the 2023-2024 school year, only around 277,000 Chinese students came to the country. Trump specified in an interview released Sunday that the 600,000 figure referred to “over two years.”

The original comment raised eyebrows on the right, especially after Commerce Secretary Howard Lutnick said the “bottom 15 percent of universities and colleges would go out of business in America” without foreign students.  

“I think it just goes to underscore the mixed signals that are happening between China and the U.S. and just between — with international student visas in general,” said Michael Hansen, senior fellow at the Brown Center on Education Policy at the Brookings Institute.  

“On the one hand, they signal that they want international students here, at least on the campaign trail Donald Trump did talk about giving basically green cards to people with an American degree in order to keep them here,” Hansen added. “At the same time, there’s also these moves to illegally block student visa holders for other grounds that have not been imposed previously.” 

Advocates say these policies are going to harm interest in the U.S. for higher education and hurt local economies.  

“Using international students as geopolitical pawns sends a deeply unwelcoming message to current and prospective students. It undermines global confidence in the U.S. as a stable and welcoming place to study, work, and invest in one’s future. The chilling effect of these policies goes far beyond the international student population. It threatens our economy, our communities, and the educational experience of American students as well,” Zuzana Čeplá Wootson, deputy director of federal policy at the Presidents’ Alliance on Higher Education and Immigration. 

Eternal explores changes to Zomato’s commission structure for restaurants

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Eternal, the Indian parent company of online food delivery platform Zomato, is contemplating adjustments to its commission structures, which may provide relief to its restaurant partners, as reported by NDTV Profit.

Zomato is in discussions with stakeholders about potentially lowering commission rates and long-distance delivery fees. No agreements have yet been reached.

Restaurant commissions on Zomato vary between 10% and 28%, alongside additional costs such as payment gateway fees and goods and services tax.

The commission structure is influenced by factors including the average order value, the number of orders and the restaurant’s brand status, so that larger chains often benefit from lower commission rates compared to smaller establishments.

In early 2025, Zomato implemented a long-distance delivery fee for its restaurant partners and launched a visibility initiative that favours paying partners in terms of delivery rider prioritisation.

But many restaurants have raised concerns about the current commission models and their effect on profit margins – an area of focus for competitors such as Rapido.

NDTV Profit has sought comments from Zomato regarding this development.

In April 2025, Zomato laid off close to 600 customer support associates within a year of their hiring.

This decision was attributed to the company’s slowing growth in the food delivery sector, losses incurred by its quick commerce unit, Blinkit, and the integration of AI to automate customer support functions.

The layoffs occurred around the same time as the launch of Nugget, Zomato’s in-house AI-powered customer support platform.

“Eternal explores changes to Zomato’s commission structure for restaurants” was originally created and published by Verdict Food Service, a GlobalData owned brand.

 


The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

England vs South Africa: Sonny Baker named in squad for first ODI

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Fast bowler Sonny Baker will make his England debut in the first one-day international against South Africa at Headingley on Tuesday.

The 22-year-old has impressed in The Hundred for Manchester Originals and could be part of the squad for the Ashes tour of Australia later this year.

It is the latest step in a rapid rise for Hampshire’s Baker, who made his first-class debut for England Lions against Australia A in Sydney at the beginning of this year.

Fellow quicks Jofra Archer and Brydon Carse are both included after missing the final Test against India in July. For Archer, it will be his first one-day international since the Champions Trophy in March.

The match in Leeds begins a three-match series against the Proteas, which is followed by three T20s.

Growing number of women launch bids for governor

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A growing number of Republican and Democratic women are gearing up to run for governor in the 2025 and 2026 elections as more women take the helm of state capitals across the country. 

History will be made in Virginia this November as Lt. Gov. Winsome Earle-Sears (R) and former Rep. Abigail Spanberger (D-Va.) vie to be the commonwealth’s first female governor. Meanwhile in New Jersey, Rep. Mikie Sherrill (D-N.J.) is running to become that state’s second female governor. 

A number of incumbent female governors, including New York Gov. Kathy Hochul (D) and Arkansas Gov. Sarah Sanders (R), are running for reelection while other candidates including Sen. Marsha Blackburn (R-Tenn.) and former Atlanta Mayor Keisha Lance Bottoms are running to become governor of their respective states for the first time. 

“We will absolutely see an additional woman governor in the state of Virginia and a strong possibility of a woman governor in New Jersey, which would make us reach a real record,” said Debbie Walsh, the director of the Center for American Women and Politics (CAWP) at Rutgers University. 

For a few weeks in January, 14 women served as governor across the country. That number decreased to 12 in January, when Delaware Gov. Matt Meyer (D) assumed office after the state’s Lt. Gov. Bethany Hall-Long (D) held the position for two weeks following former Gov. John Carney’s (D) resignation to become mayor of Wilmington. In that same month, Homeland Security Secretary Kristi Noem left her post as South Dakota governor ahead of her confirmation process in Washington. 

According to CAWP, 40 women, including incumbents, have announced or filed their candidacies for governor ahead of the 2026 cycle.  

Blackburn and Bottoms are only a few of the women striving for office after holding legislative and local leadership posts, respectively. In South Carolina, Rep. Nancy Mace (R-S.C.) and Lt. Gov. Pamela Evette (R) are vying for that state’s top executive role in a crowded Republican primary. Michigan Secretary of State Jocelyn Benson (D) and Pennsylvania Treasurer Stacy Garrity (R) are the leading candidates in their parties’ primaries in their respective states. 

Meanwhile in New York, Rep. Elise Stefanik (R-N.Y.) is expected to launch a challenge against Hochul after climbing the ranks in Republican leadership circles since she was first elected to the House in 2014. Hochul was lieutenant governor before she replaced former Gov. Andrew Cuomo (D) following his resignation from office. In Arizona, Gov. Katie Hobbs (D), who is seeking reelection next year, served as secretary of state before running for governor. 

“This is the evolution of women’s candidacies,” Walsh said. “They have proven records as elected officials and this is that next step for them.” 

Walsh noted that it is more common to see men without experience in elected office launch bids for executive office, pointing to New Jersey Gov. Phil Murphy (D). 

Prior to his time as governor, Murphy served as U.S. ambassador to Germany under former President Obama and national finance chair of the Democratic National Committee. 

“We don’t see that as often for women,” Walsh said. “They kind of have to earn their stripes.” 

According to a 2023 Pew Research survey, 54 percent of Americans say a major obstacle for women seeking political office is that they have to do more to prove themselves than men. Forty-seven percent of respondents named women getting less support from party leaders as a major reason. 

“When I started at the DGA in 2018, we had more governors named John than we had women governors,” said Meghan Meehan-Draper, executive director at the Democratic Governors Association (DGA). 

In 2018, the DGA launched the Women Governors Fund to help recruit and elect Democratic women to gubernatorial office. The group has invested more than $80 million to elect more Democratic female governors over the past seven years. 

“There is still more work to be done, and the Women Governors Fund will continue to invest in races to elect more women including Mikie Sherrill and Abigail Spanberger in New Jersey and Virginia this year,” Meehan-Draper said. 

One common link between many of the women running in 2025 and 2026 is their backgrounds in national security and law enforcement. Prior to running for governor, Spanberger worked as an intelligence officer for the Central Intelligence Agency, while Earle-Sears served in the Marine Corps. Sherrill is a Navy veteran, previously working as a helicopter pilot. Garrity, who is running in 2026, is a former retired Army Reserve colonel. 

“It’s hard to question a candidate’s toughness and strength if she has served in the military, in battle, in combat missions,” Walsh said, adding that serving as state attorney general is also seen as a good “springboard” for gubernatorial candidates. Massachusetts Gov. Maura Healey (D) is an example of one governor who previously served as state attorney general.  

Still, there is a large disparity between the number of women who have been governor of a state and men. Only 51 women have served as governor of a U.S. state, while another three have served as the governor of a U.S. territory and two as the mayor of Washington, D.C. 

“This kind of goes hand in hand with the challenge we’ve had when it comes to electing a woman president of the United States,” Walsh said. “These chief executive positions still come with a lot of stereotypes about who can lead at that level.” 

Walsh argued that many voters perceive women as working best when they are in collaborative settings like in a legislature. 

“When voters think about women, they think about them doing well, working collaboratively, working in committees,” Walsh said. “As opposed to being the chief executive. As opposed to being the tough decisionmaker who is the last one in the room who is making that final decision on her own.” 

Valeo inaugurates new ADAS manufacturing hub in China

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Valeo has opened a new production site in Shanghai’s Waigang Industrial Park, situated in Jiading District, to enhance its manufacturing capabilities for advanced driving assistance systems (ADAS) in China.

This facility is expected to support the development of software-defined vehicles (SDVs) and autonomous driving technologies.

Spanning around 30,000m2, the new facility is primarily focused on research and development (R&D) as well as the production of ADAS sensors, including pivotal light detection and ranging (LiDAR) technology essential for Level 3 and higher autonomous driving.

Additionally, the site will manufacture computing products like domain and zonal controllers, all integral to Valeo’s suite of technologies aimed at advancing SDV revolution, autonomous driving, and the transformation of the in-car experience towards sustainable mobility.

China serves as a hub of innovation for Valeo’s BRAIN division, with three integrated R&D and manufacturing sites located in Guangzhou, Shanghai, and Shenzhen, complemented by a standalone R&D centre in Wuhan.

Valeo entered the Chinese market in 1994, and its workforce in the country surpasses 18,000.

Valeo Group CEO Christophe Périllat said: “Valeo attaches great importance to China’s automotive market as a global innovation hub, especially with Shanghai leading the global trend in software-defined vehicle, ADAS, and electrification technologies.

“The opening of our new production unit is a key measure to strengthen our innovation capabilities of ‘Invent with China’. It demonstrates our strong commitment and confidence in actively participating in the ongoing transformation of China’s automotive industry.”

Regarding financial performance, Valeo reported a total sales figure of €10,660m for the first half of the year, reflecting a 4.1% decrease compared to the same period in the previous year.

“Valeo inaugurates new ADAS manufacturing hub in China” was originally created and published by Just Auto, a GlobalData owned brand.

 


The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

UK house price growth slows amid property tax calls

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Mitchell LabiakBusiness reporter, BBC News

Getty Images A couple photographed from behind walking down a residential street past houses painted pink, yellow and blueGetty Images

House price growth has slowed as calls grow for a reform of property taxes in the Autumn budget.

The average price of a home in the UK grew by 2.1% in the year to the end of August, a slowdown from the 2.4% annual growth recorded in July, according to data from lender Nationwide.

The sluggish growth comes amid reports that the government is considering an overhaul of stamp duty, capital gains tax on homes, and council taxes in a bid to raise more money and boost the housing market.

Robert Gardner, chief economist at Nationwide Building Society, told the BBC the UK needs a tax system that “allows people to move more effectively”.

“It’s definitely worth looking at UK property taxes,” he added.

The introduction of a National Insurance levy for landlords, removal of the capital gains tax relief on selling pricier homes, the abolition of stamp duty, and replacement of council tax with a national property tax are some of the options reportedly being discussed.

Experts’ views on the changes are mixed, with some arguing that replacing stamp duty in particular could speed up the housing market but cost billions in lost tax revenue.

The average UK home now costs £271,079, according to Nationwide’s data, which is based on its own mortgage activity. This does not include buyers who purchase homes with cash, or buy-to-let deals. Cash buyers account for about a third of housing sales.

August’s annual rate of growth is the same as Nationwide recorded in June this year. The last time house price growth was this slow was in July 2024.

Despite the drop in the pace of growth, Mr Gardner said housing remains unaffordable for many buyers.

“House prices are still high compared to household incomes, making raising a deposit challenging for prospective buyers, especially given the intense cost of living pressures in recent years,” he said.

One estate agent said the latest figures suggested the housing market was “catching its breath, rather than changing direction”.

Mortgage costs are three times the level seen in the wake of the pandemic, Nationwide said, and that means making monthly repayments is a barrier to home ownership.

Although pressure will remain, particularly for those trying to buy a first home, Mr Gardner said there were some signs of hope for them.

Further cuts in interest rates by the Bank of England, following the latest reduction in August, could ease mortgage rates further and incomes were expected to outpace house prices, he said.

The latest data shows the interest rate on an average two-year fixed mortgage was 4.96%, according to the financial information service Moneyfacts. The average rate for a five-year deal was 5%.

Karen Noye, a mortgage expert at wealth manager Quilter, said: “While the economic backdrop remains challenging, today’s figures suggest the housing market is still managing to hold reasonably firm for now.

“Sustained momentum will depend on future interest rate decisions and whether upcoming policy decisions support or hinder market activity.”

Why Mississippi declared infant deaths a public health emergency 

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The Mississippi Department of Health recently declared a public health emergency in response to rising infant deaths in an unusual move to help speed up efforts to cover gaps in care.  

Lowering the state’s infant mortality rate won’t be easy, health experts warn, and will potentially be made trickier by the ongoing overhaul of the federal public health system.  

“This declaration by Mississippi is a bold and necessary step to elevate infant mortality to the level of urgent crisis response,” said Michael Warren, chief medical and health officer for the March of Dimes. “Declaring a public health emergency shines a spotlight on the severity of this crisis.”  

The overall infant mortality rate in Mississippi rose to 9.7 deaths per 1,000 live births in 2024, according to the state’s Department of Health, the highest it’s been in more than a decade.  

Since 2014, more than 3,500 babies in the state have died before turning 1.  

Mississippi’s public health crisis reflects a wider trend, and other states like California and New Jersey have launched initiatives to address maternal and infant health.

Mississippi, however, has had the highest infant mortality rates in the nation since 2017, data from the Centers for Disease Control and Prevention (CDC) show. The most common causes of infant death in the state are congenital malformations, low birth weight, and accidents, according to state health data shared with The Hill.  

Mississippi State Health Officer Dan Edney declared a public health emergency to expedite plans the agency already had in the works to mitigate infant deaths, according to a spokesperson.  

Some of those plans included educating families on safe sleep practices to reduce preventable infant deaths, while others focus on pregnant women’s health, like a plan to prepare county health departments to offer prenatal and postpartum services in communities without obstetric or gynecologic services.  

“Improving maternal health is the best way to reduce infant mortality,” Edney said in a statement. “Healthy women of childbearing age are more likely to have healthy pregnancies, which in turn lead to healthier babies.”  

Joia Crear-Perry, an OB-GYN and the founder and president of the National Birth Equity Collaborative, agrees that investing in maternal health is a direct way to improve infant health.  

“The United States has the worst maternity health outcomes of any high-income nation and what happens to mom also happens to baby,” she said.  

Health experts said the impacts of abortion restrictions on fetal death rates cannot be overstated.  

Infant deaths have gone up in states that enacted abortion bans in the months following the 2022 overturning of Roe v. Wade, according to two studies published earlier this year.  

One of the studies found a rise in deaths among Black babies and infants due to congenital anomalies — the most common cause of infant deaths in the U.S. — in those states.

Alison Gemmill, a perinatal epidemiologist at Johns Hopkins Bloomberg School of Public Health and author of the study, said the data and anecdotal evidence show that abortion bans are forcing some people to carry “doomed pregnancies” to term.  

“People get that diagnosis in pregnancy and usually they would have an option to terminate, and that option is no longer there,” she said.  

The most common cause of infant death in Mississippi between 2022 and 2024 was congenital abnormalities, according to state health data. A total of 172 infants died because of congenital malformations, deformations or chromosomal abnormalities during that time.  

Health experts said they believe Mississippi officials may be able to knock down the infant mortality rate, but that recent changes within the federal Department of Health and Human Services (HHS) might make the process challenging.   

Mass layoffs at HHS have gutted divisions within the Centers for Disease Control and Prevention dedicated to improving the health of pregnant people and infants.  

One of the impacted programs was the Pregnancy Risk Assessment Monitoring System (PRAMS), which collects state-level data on maternal and infant death. The Trump administration indefinitely suspended the survey early this year and then placed the entire staff overseeing the program on administrative leave in April.  

Health experts stressed that the survey examines a wide range of factors that could influence maternal and infant health outcomes, like insurance coverage, income, and prenatal care, and that it is essential to figuring out where high-risk maternal groups are located. State and local governments have used PRAMS data to develop or implement changes to policies meant to help maternal or infant health.  

The Senate Committee on Appropriations approved a provision in a 2026 appropriations bill that includes a $3 million increase in the CDC’s Safe Motherhood program, which helped pay for agency programs aimed at improving maternal and infant health outcomes and surveillance.  

But the Trump administration has not expressed an interest in bringing fired CDC employees back, leaving the future of maternal and infant health work at the agency up in the air. Even if the administration wanted to replace fired employees, it would be difficult to undertake. 

“You can’t replace the knowledge that those staff had,” one former CDC employee told The Hill. “It takes decades to build up that comprehensive understanding of the interplays between sociodemographics and the health care system and local and state and national health departments.”  

Health experts also noted that forthcoming Medicaid changes will also make it challenging to combat rising infant mortality, especially in states that heavily rely on the program, like Mississippi.  

Nearly 24 percent of Mississippians received their health insurance coverage through Medicaid in 2023, according to the health care policy nonprofit KFF. That same year, Medicaid covered about 57 percent of births in the state.   

The Trump administration’s enormous tax and spending package is projected to cost the federal government $3 trillion, which will be offset in part by nearly $1 trillion in cuts to Medicaid.  

More than 12 million low-income Americans could lose their health insurance coverage by 2034 as a result, according to an analysis from the Congressional Budget Office. Medicaid cuts would force states to make difficult decisions on how to offset reductions and choose to make cuts to their Medicaid programs by “reducing coverage, restricting benefits, or lowering provider reimbursement rates,” according to KFF.  

Decreased coverage and reimbursement rates could also lead to rural hospital closures, reducing access to OB-GYNs and other maternal health care providers in states like Mississippi.  

“The vast majority of infant mortality events are because of social factors and maternal health conditions, not just health care itself,” said the former CDC employee. “And the people who know that are the people whose jobs have been cut.”  

An HHS spokesperson said the CDC “stands ready to assist” all states with public health emergencies to “safeguard the health and wellbeing of Americans.” 

Russian miner Mechel makes production cuts amid deepening losses

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Russian mining company Mechel has reportedly suspended some of its coal operations amid deepening financial losses.

The company has temporarily halted operations at one mine as well as certain open-pit coal mine sections, while significantly reducing production of unprofitable coal grades, according to a report by Reuters.

In its half-year report, Mechel stated: “Under the current circumstances, we have decided to suspend production of unprofitable product types, partially redirecting resources toward products that are more in demand in today’s realities.”

The move comes as the country’s coal sector grapples with low prices, international sanctions and a strong rouble, which is undermining the competitiveness of its exports, highlighted the news agency.

Mechel reported a 28% decline in coal output to 3.66 million tonnes (mt) in the first half of 2025 (H1 2025).

Sales of coking coal concentrate dropped 15% to 1.7mt and thermal coal sales slumped 21% to 1.37mt.

Its H1 loss widened to Rbs40.5bn ($501.17bn), compared to Rbs16.7bn in the previous year.

The company’s financial position is also strained by a net debt burden of Rbs252.7bn, exacerbated by high interest rates.

The Russian Government introduced measures in May to support the country’s coal sector, including deferring tax payments.

Mechel secured a three-year deferral on payments of tax arrears, fees and insurance premiums totalling Rbs13.8bn.

Despite these efforts, the industry continues to face significant headwinds.

Mechel attributed the industry’s struggles to declining coking coal concentrate prices, rising operational costs, rouble appreciation and sanctions-related constraints.

The company is in ongoing discussions with creditors to secure further deferrals on principal debt repayments.

According to the Rosstat statistics service, the combined net losses of Russian coal companies surged to Rbs185.2bn in H1 2025, up from Rbs7.1bn in the same period last year.

Industry officials have warned that around 30 enterprises with a collective annual output of approximately 30mt are at risk of bankruptcy.

“Russian miner Mechel makes production cuts amid deepening losses” was originally created and published by Mining Technology, a GlobalData owned brand.

 


The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.