Exxon Calls Venezuela 'Uninvestable,' Iran Protests Grow, More
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News when you want it with Bloomberg News Now. I'm Monica Ricks. President Trump plans to take over Greenland and says it can be done the easy way or he can secure it the hard way if authorities don't cut a deal.
If we don't do it, Russia or China will take over Greenland and we're not going to have Russia or China as a neighbor.
NATO has pushed back on the idea since Greenland is a Danish territory. The Danish prime minister has said any attack would mean an end to their alliance. Major U.S. oil executives are expressing caution about President Trump's push for them to spend at least $100 billion to rebuild Venezuela, including ExxonMobil, which is called the nation currently uninvestable. But Energy Secretary Chris Wright tells Bloomberg Chevron's already making progress there.
They mentioned the ability to grow their production by 50% in the next 18 to 24 months. This is the largest producer in Venezuela. But we're one week in right now. So with President Trump's leadership, I think we've had a tremendous week of progress, transformation in Venezuela, and excited to see what comes in the weeks and months ahead.
Chevron, by the way, could boost its cash flow by as much as $700 million a year in Venezuela. Here's Bloomberg's Charlie Pellett.
Chevron is the only American oil major currently operating in Venezuela. Jason Gableman of TD Cowen says that Chevron's efforts could add between $400 and $700 million a year, representing about 1 to 2 percent of the company's cash flow operations. Venezuela's oil industry has been run down after decades of corruption and mismanagement. Charlie Pellett, Bloomberg Radio.
Iran's supreme leader has vowed not to back down as protests against the government grow across that country. President Trump has promised to help demonstrators if violence against them continues. But at least 65 people have been killed over the last two weeks. Protests also continued in Minneapolis overnight, where people made as much noise as possible outside of a hotel where ICE agents are reportedly staying. They want them out of the city following Renee Good's death. The first full week of trading of 2026 is now in the books, and U.S. stocks closed at all-time highs, fueled by signs of fresh economic momentum, productivity gains, and a benign inflation outlook. The S&P gained 1.6 percent this week.
President Trump is calling for a one-year cap on credit card interest rates. Bloomberg's Ed Kalecki has details.
President Trump is calling for a one-year cap on credit card interest rates at 10 percent, effective January 20th. He wrote on social media, Please be informed that we will no longer let the American public be ripped off by credit card companies that are charging interest rates of 20 to 30 percent and even more, which festered unimpeded during the sleepy Joe Biden administration. He then finished with the word affordability in all caps. It's not clear whether credit card companies will respond to his call or what actions he might take to force any change. Ed Kalecki, Bloomberg Radio.
The House has voted to scrap a Biden-era rule on energy efficiency for manufactured homes. Bloomberg's Nathan Hager reports from Washington.
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