5 Key Business Updates: Chevron, Fed, AI Startups, Amazon, and EV Batteries (July 18, 2025)

Business and Market News

• 🛢️ Chevron has successfully mediated its dispute with Exxon over Guyana oil assets, paving the way for Chevron's acquisition of Hess.
• 📈 Chevron stock saw an 8.5% premarket increase, with Chevron itself up 3.7%.

Federal Reserve and Government Actions

• 🏛️ Federal Reserve Chair Jay Powell addressed questions regarding renovations to the central bank's DC headquarters, detailing project cost overruns and refuting claims of luxury amenities.
• 🔋 The Commerce Department will implement anti-dumping duties exceeding 90% on graphite imported from China, used in electric vehicle batteries, concluding it's sold below fair market value.

Startup Valuations and Corporate Restructuring

• 💡 The AI startup Perplexity has seen its valuation rise to $18 billion, an increase from its previous $14 billion valuation just two months prior.
• 📉 Amazon is conducting layoffs within its cloud computing division, citing workforce streamlining and refocusing on priorities rather than AI investments.