Biden halts Alaska drilling, Russia ‘likely’ behind JBS cyberattack, Leon Black sued

Julie Hyman breaks down Wednesday’s business headlines, including: the Biden administration suspending all oil and gas leases in Alaska’s Arctic National Wildlife Refuge, Leon Black being sued for defamation and sexual violence , and the White House saying the cyberattack on JBS ‘likely’ originated from Russia.

Video transcript

JULIE HYMAN: Let's check on some other business headlines that we are watching today. The Biden administration yesterday suspended oil drilling leases in the Arctic National Wildlife Refuge. The Department of the Interior will conduct an environmental analysis of the land, which could house as much as 11 billion barrels of oil. The move reverses, or at least pauses, a signature move of the Trump presidency in what environmental activists say is also an attempt to offset recent Biden decisions supportive of other fossil fuel projects.

Former Apollo chairman and CEO Leon Black is being sued for defamation by Guzel Ganieva, the woman Black claims was extorting him over a consensual sexual affair. Ganieva also alleges that Black raped and harassed her. His spokesman called the lawsuit, quote, "frivolous" and a, quote, "wholesale fiction." Black stepped down earlier this year from Apollo over his ties to Jeffrey Epstein.

The world's largest meat producer is in the process of reopening its plants after a global cyber attack. JBS has suspended operations at all of its facilities in the US, according to a union official cited by Bloomberg. The company accounts for almost a quarter of American supplies. A Russian linked hacking group was reportedly behind the attack, although a different one than responsible for the Colonial Pipeline hack three weeks ago. So Brian Sozzi, rest assured, if you're preparing for your summer barbecues, it sounds like a lot of that processing will be back online.

BRIAN SOZZI: Yeah, Julie, I need to get my protein on, grow up some chicken. I'm hitting that gym as well. I got to keep those gains going. But, you know, we were talking about in the morning meeting a little bit, I am surprised that Beyond Meat shares were down 7% yesterday on this news. You would have thought investors would be nibbling at a plant-based stock like a Beyond Meat off that meat packing or meat producer type news. [INAUDIBLE] its stock is up about 3% today.

Broader picture here, Beyond Meat shares down about 5% over the past three months, according to Yahoo Finance Plus data. Very interesting, considering restaurants are starting to open up again, Myles. And they are likely-- those fast food companies are likely going to be serving a lot more Beyond products this year, compared to what they did last year.

MYLES UDLAND: Listen, I know we like to open up our meetings for the viewers, but I'll reserve my Beyond comments. I'll keep those in house for when the time is right.