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Reuters
18 minutes ago
- Reuters
Ameren unit gets green light for $1.6 billion Illinois power transmission project
Aug 5 (Reuters) - Utility Ameren Corp's (AEE.N), opens new tab Illinois unit said on Tuesday it has got approval to build and upgrade 380 miles of power lines across 13 counties in the state as part of a $1.6 billion project to boost energy access. Construction is set to begin later this year and is expected to be completed in 2029. U.S. utilities face growing pressure to boost grid capacity amid rising electricity demand and a shift toward cleaner energy sources. "At a time when the Midwest faces a persistent shortage of the electricity needed to meet rising demand, this vital project will provide energy access and certainty for businesses and residential growth," said Shawn Schukar, chairman and president of Ameren Transmission Company of Illinois. The Illinois Commerce Commission approved the proposed route through a Certificate of Public Convenience and Necessity, the company said. The project includes three new substations and upgrades to several others, with most of the work taking place along existing infrastructure corridors to minimize land use. Ameren Illinois serves 1.2 million electricity and more than 800,000 natural gas customers across 1,200 communities in the state.
Reuters
18 minutes ago
- Reuters
Micah Parsons Next Team Odds: Cowboys' bitter rival in play?
August 5 - With the Dallas Cowboys embroiled in yet another dramatic contract stalemate with one of their stars, intriguing potential destinations have emerged should pass-rusher Micah Parsons be traded. Despite his recent trade request, most observers believe that Parsons will ultimately reach an agreement on the long-term contract he is seeking. That would be a similar course to that taken by quarterback Dak Prescott and wide receiver CeeDee Lamb in recent years. However, Cowboys owner Jerry Jones made the waters a bit choppier with comments over the weekend, including wanting to work directly with Parsons on a new deal. Should the sides not be able to reach a long-term agreement, DraftKings is offering odds on all 31 potential NFL destinations for Parsons, who has 52.5 career sacks and is still only 26 years old. The shortest odds for a trading partner belong to Philadelphia and New England at +1000. It's almost inconceivable that Dallas would deal Parsons to a bitter division rival and send the reigning Super Bowl champions an elite pass rusher in his prime. But the Eagles waited for the New York Giants to muck things up with running back Saquon Barkley before luring him away last offseason. It remains a significant longshot for Philadelphia to pull off a similar coup with Parsons. He is scheduled to earn $24 million this season on his fifth-year option, and Dallas can conceivably lock him up through the 2028 season with franchise tags. If the relationship really sours further and Jones becomes open to trading Parsons, the Patriots make a lot more sense. Not only is New England in the AFC, but the Patriots are viewed as a team on the rise whose contender status would receive a major boost with the addition of a premier pass rusher. Following New England in the Parsons market is another AFC team in the Los Angeles Chargers at +1500. Another borderline contender, the Chargers were led last year by linebacker Tuli Tuipulotu's 8.5 sacks. No one else registered more than 6.0 and the pass rush received no major upgrades via free agency or the draft. The next shortest odds belong Arizona and San Francisco at +1600, followed by their NFC West rivals the Los Angeles Rams at +1800. It's still remains likely that Parsons' saga with the Cowboys results in a long-term agreement. He is -300 to remain in Dallas and was seen at the facility on Monday with his practice jersey back on. He did declare on social media Friday that "I no longer want to play for the Dallas Cowboys," which stoked the fire and led to oddsmakers creating "Next Team" markets. The sides are reportedly still far apart in numbers, and Parsons' lengthy post Friday on X clearly communicated his frustration. "Yes I wanted to be here. I did everything I could to show that I wanted to be a Cowboys and wear the star on my helmet," Parsons wrote. .".. Unfortunately I no longer want to be here. I no longer want to be held to close door negotiations without my agent present. I no longer want shots taken at me for getting injured while laying it on the line for the organization our fans and my teammates. I no longer want narratives created and spread to the media about me." Parsons said his attempts to discuss an extension started after the 2023 season but have repeatedly been met by "radio silence" from the Cowboys. "Up to today the team has not had a single conversation with my agent about a contract," Parsons wrote. "Not one demand has been made by my agent about money, years or anything else. "Still I stayed quiet but again after repeated shots at myself and all the narratives I have made a tough decision I no longer want to play for the Dallas Cowboys. My trade request has been submitted to Stephen Jones personally." The 2021 NFL Defensive Rookie of the Year has recorded double-digit sacks in each of his first four seasons and has watched the market for pass rushers explode. Defensive end Myles Garrett signed a four-year, $160 million extension with the Cleveland Browns. Maxx Crosby inked a three-year, $106.5 million extension with the Las Vegas Raiders. T.J. Watt's extension with the Pittsburgh Steelers was for three years and $123 million. A Parsons extension likely would be in the same ballpark -- or more. The Dallas Morning News reported in March that Parsons was seeking a record-setting $200 million contract extension that would make him the highest-paid non-quarterback in the NFL. Parsons recorded 12 sacks, 43 tackles and two forced fumbles in 13 games (all starts) last season. A Pro Bowl selection in each of his first four seasons in the league, Parsons has totaled 256 tackles (63 for loss), 112 quarterback hits, 52.5 sacks, nine forced fumbles and four fumble recoveries in 63 career games (all starts). --Field Level Media
Reuters
18 minutes ago
- Reuters
Indexes end lower as investors consider tariff impact on company results
NEW YORK, Aug 5 (Reuters) - U.S. stocks ended lower on Tuesday as investors weighed the impact of tariffs after Yum Brands (YUM.N), opens new tab and other companies cited trade duties in their results or outlooks. In addition, U.S. President Donald Trump said the U.S. could impose a "small tariff" on pharmaceutical imports before increasing the rate subsequently. He also signaled an announcement on tariffs on semiconductors and chips in the "next week or so." Shares of KFC parent Yum Brands (YUM.N), opens new tab fell after the company missed estimates for the second quarter, as steep trade duties restricted consumer spending. Caterpillar (CAT.N), opens new tab warned of an up to $1.5 billion hit in 2025. The results come at the tail end of the U.S. reporting period for the second quarter. "If you look at results, they are trending above low-bar expectations," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis, Minnesota. "The impact of tariffs remains a work in progress. We're not seeing any meaningful impact on company profitability with tariffs. We do know, however, that they loom." According to preliminary data, the S&P 500 (.SPX), opens new tab lost 30.75 points, or 0.49%, to end at 6,299.19 points, while the Nasdaq Composite (.IXIC), opens new tab lost 136.92 points, or 0.65%, to 20,916.66. The Dow Jones Industrial Average (.DJI), opens new tab fell 61.56 points, or 0.14%, to 44,112.08. Earlier in the day, data showed ISM's nonmanufacturing purchasing managers index (PMI) slipped to 50.1 last month from 50.8 in June, as little changes in orders and weaker hiring, alongside rising input costs. "Today's market action reflects investors that are merely in pause mode," Sandven said. While the backdrop for equities remains constructive for the year, "clearly near-term there are some headwinds," he said, including elevated valuations given recent record highs in the S&P 500. In other company news, Marriott International (MAR.O), opens new tab cut its annual forecast on slowing travel demand. Stocks sold off on Friday after a disappointing July jobs data and sharp downward revisions to prior months, but indexes bounced back on Monday.
