Shell is in early talks to acquire BP,
a potential landmark combination of two multinational oil giants.
Plus, Wall Street is stunned over the upset in the primary election for New York City mayor.
People were expecting Cuomo to win, but it did not feel like very enthusiastic support of Cuomo.
When it comes to Mamdani, their concerns are primarily over taxes.
And why a cheap summer road trip could change consumers' minds about the economy.
It's Wednesday, June 25th.
I'm Alex Osela for The Wall Street Journal.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
We're exclusively reporting that Shell is holding early-stage talks to acquire rival BP and what would be the largest oil deal in a generation.
That's according to people familiar with the matter.
Shell said after the journal reported of the talks that the report,
quote, is further market speculation.
No talks are taking place.
A BP spokesman declined to comment.
Reporter Ben Dummett is here to tell us more.
Ben, these are two huge companies.
What is the significance of this move?
I take your point that Bose,