BP in Play, Nvidia on Top, and Jane Street's Strange Twist

27th June 2025

Murmurs of a Shell-BP mega-merger sent the City buzzing, Nvidia is on track to hit a record-breaking $4 trillion market cap, and a Wall Street exec allegedly funded a coup without realizing it. From energy giants and chip stocks to IPO pops and international intrigue, today’s roundup brings sharp insight into power, money, and the surprising places they intersect. All in today’s read-and-eat.

Major Headline

• Shell-BP mega-merger talk stirs the City—and the market

  
  

• Speculation over a possible £200B tie-up between Shell and BP gripped London’s financial world after a report from The Wall Street Journal suggested that early-stage talks may have happened. While Shell has since denied any ongoing discussions, BP’s stock surged as much as 7% before settling up 2%. The oil and gas sector has been rife with consolidation chatter, and BP—under pressure from activist investor Elliott and facing leadership transitions—has become an increasingly viable target. With Chevron currently sidelined and Adnoc sniffing around BP assets, Shell may find little resistance if it chooses to pounce. One investor said Shell would need to offer a 30% premium to seal the deal, estimating a bid worth £75B. The UK government’s historical ties to BP and strategic  interests could also weigh in. But if it happens, the merger would reshape the global energy landscape—and mark the largest UK corporate deal in decades.  Bloomberg

  
  

• Jane Street co-founder ‘duped’ into funding South Sudan coup

  
  

• Robert Granieri, a low-profile co-founder of trading giant Jane Street, was allegedly misled into bankrolling a failed attempt to overthrow South Sudan’s government. Prosecutors claim Granieri wired $7 million to Harvard fellow Peter Ajak, who—along with co-conspirator Abraham Keech—is accused of plotting an arms deal that included AK-47s and missiles. Ajak and Keech have pleaded not guilty and claim the U.S. was aware of their actions. Granieri, not charged, says he thought he was supporting human rights. The case is drawing scrutiny not only for its alleged geopolitical stakes but also for Granieri’s ties to the firm that once employed crypto mogul Sam Bankman-Fried.  Bloomberg

  
  

• Nvidia reclaims crown as world’s most valuable company, eyes $4T milestone

  
  

• Nvidia’s shares hit an all-time high of $154.97, closing at $154.31, pushing the AI chipmaker’s market cap to $3.76 trillion—once again overtaking Microsoft and setting its sights on an unprecedented $4 trillion valuation. CEO Jensen Huang’s bullish shareholder commentary and a new $250 price target from Loop Capital helped fuel the rally. Analysts now say Nvidia’s long-term AI dominance could support a market cap as high as $6 trillion. “We’re working toward a future with billions of robots, millions of autonomous vehicles,” Huang said, underscoring Nvidia’s central role in shaping the tech future. Yahoo Finance

  
  

• Jefferson Capital IPO jumps, hits $1.2B valuation

  
  

• Debt collector Jefferson Capital priced its IPO at $15 per share but popped nearly 27% on its Nasdaq debut, opening at $19 and landing a $1.2B market cap. The company raised $150M and joins a streak of successful consumer-finance IPOs this year. Founded in 2002, Jefferson buys and services unpaid debt across North America and Latin America. Its revenue rose 34% to $433.3M this year, with backers like J.C. Flowers & Co. betting on its slow-and-steady model amid IPO volatility. Reuters

Minor Headline

• Fed advances plan to ease bank leverage requirements — Bloomberg

  
  

• Nestle USA to phase out synthetic food dyes by 2026 — Reuters 

  
  

• BBC launches paid subscription for U.S. users —  Reuters

  
  

• Bumble to slash 30% of staff as dating app fatigue sets in — Reuters

  
  

• Ripple-SEC truce talks stall as judge pushes for more time —Wall Street Journal

  
  

• Trump considers replacing Powell early to shift Fed trajectory —   Wall Street Journal

  
  

• OpenAI and Microsoft renegotiate terms of AI partnership — New York Times

  
  

• Wells Fargo taps Citi’s Paterson in boardroom shake-up — Reuters

Earnings

Tech & AI

• Micron beat Q3 earnings and revenue estimates and issued upbeat Q4 guidance on strong data center-related sales (CNBC)

  
  

• Accenture beat Q3 earnings and revenue estimates but shares fell as bookings declined 6%, raising investor concerns over slowing contract wins and uncertainty in its federal government business (WSJ)

Financials

• Jefferies missed Q2 earnings estimates as profit slumped 40% YoY on weaker IB and muted capital markets activity amid geopolitical uncertainty, though the firm noted improving sentiment around global tariffs (BBG)

 Consumer Goods & Retail

• General Mills beat Q4 earnings but missed revenue estimates and issued a downbeat profit outlook citing consumer pullback and ongoing macro pressures from tariffs, global conflicts, and regulatory uncertainty (BBG)

  
  

• Kroger missed Q1 revenue estimates but beat on earnings and raised FY guidance on steady grocery spending and minimal impact from Trump tariffs; the firm reported its best revenue in two years (CNBC)

  
  

• Darden Restaurants beat Q4 earnings and revenue estimates as Olive Garden and LongHorn Steakhouse delivered better-than-expected same-store sales growth; the firm expects continued strength in casual dining and FY growth despite consumer spending pullback concerns (CNBC)

  
  

• CarMax beat Q1 earnings and revenue estimates as strong used-car demand, driven by Trump-era tariffs impacting new vehicle supply, led to its fastest unit sales growth since 2021, despite a 1.5% drop in average selling prices (MW)

Logistics & Transport

FedEx beat Q2 earnings and revenue estimates but withheld FY guidance amid global uncertainty, citing continued B2B demand pressure from a weak US industrial economy (BBG)

Gen Z Word of the Day:  Sus

Meaning: Suspicious or sketchy

Example: “He said he was home but I saw him at the mall—kinda sus.”