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The main owner of chocolate maker Hershey has rejected a preliminary takeover offer from Mondelez International Inc., people familiar with the matter said.

Mondelez International’s latest overture to Hershey underscores the challenges posed by high cocoa prices and penny-pinching consumers, which could make the company more open to a deal.

Continental AG Chief Financial Officer Olaf Schick will step down from his post next year to join carmaker Mercedes-Benz Group AG.

Exxon Mobil will raise capital spending next year as its $60 billion purchase of Pioneer Natural Resources increases its oil production plans, threatening to worsen an expected crude glut.

OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs.

The latest tool comprises Samsara Assistant, a generative AI tool that provides instant answers to questions, and Intelligent Experiences, which offers AI-driven recommendations.

Albertsons is giving up on its merger with Kroger and it is suing the grocery chain, saying it didn’t do enough to secure regulatory approval for the $24.6 billion agreement.

The program, called RhodeWorks, has been mired in court battles since American Trucking Associations and two motor carriers in 2018 challenged the law’s constitutionality.

Mondelez International approved a stock repurchase authorization of as much as $9 billion, days after a report that the company was exploring an acquisition of chocolate maker Hershey.