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Oil prices rise amid stalled US-Iran peace talks | Oil and Gas News

Brent crude rises more than 2 percent after Washington and Tehran fail to hold second round of talks in Pakistan.

Oil prices have climbed higher amid stalled peace talks between the United States and Iran.

Brent crude rose more than 2 percent on Sunday after hopes for a second round of ceasefire negotiations between Washington and Tehran unravelled over the weekend.

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After easing slightly, Brent, the primary benchmark for global prices, stood at $106.99 as of 1:30 GMT.

Stock markets in Asia shrugged off the impasse to open higher on Monday, with Japan’s benchmark Nikkei 225 and South Korea’s KOSPI gaining 0.9 percent and 1.5 percent, respectively, in morning trading.

US President Donald Trump on Saturday cancelled a planned trip to Pakistan by his envoys, Steve Witkoff and Jared Kushner, after Iranian Minister of Foreign Affairs Abbas Araghchi departed Islamabad before any direct engagement could take place between the sides.

Araghchi arrived in Russia’s Saint Petersburg on Monday for talks with Russian President Vladimir Putin and other officials as Tehran seeks a way out of the diplomatic impasse.

Araghchi’s trip, which follows a whistle-stop visit to Oman on Sunday, comes as uncertainty hangs over the fragile ceasefire between Washington and Tehran.

Trump announced an extension to their two-week truce last week, without specifying a deadline for reaching a deal to end the war.

As US and Iranian negotiators struggle to break the deadlock, Tehran’s threats against commercial shipping in the Strait of Hormuz have reduced traffic to a trickle, paralysing a large portion of the world’s supply of oil and natural gas.

On Saturday, 19 commercial vessels transited the strait, which normally carries about one-fifth of global oil and natural gas supplies, according to maritime intelligence platform Windward.

Before the US and Israel launched their war on Iran in late February, the waterway saw an average of 129 daily transits, according to the United Nations Trade and Development.

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Coventry v Wrexham: Don Hyam hails Coventry City’s rise but wants same for Wrexham

Wrexham inflicted Coventry’s first league defeat of the season when they won an exciting encounter 3-2 at Stok Cae Ras in October.

“It was a massive game and a massive performance here,” Hyam said.

“It was a great game under the lights at the stadium – I think it was one of my first opportunities to play under the lights here.

“We beat them 3-2, which was a great game and a great occasion for this club.

“They’ve got some great, talented players at the top of the pitch but so have we.”

While reaching the play-offs is the main focus for Hyam there is also the prospect of inclusion in Scotland’s World Cup squad.

Hyam won his second senior cap – three years after making his debut – in Scotland’s 1-0 friendly defeat to the Ivory Coast at Everton’s Hill Dickinson Stadium in March.

Wrexham manager Phil Parkinson said that continued good performances from the former Reading player would give him every chance of securing a place in Steve Clarke’s squad.

“One step at a time, one game at a time,” said Hyam.

“All I can focus on is my performances and hopefully staying fit and having a good end to the season.”

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From pastor’s son to NFL draft guru: The rise of Daniel Jeremiah

Daniel Jeremiah traces his rise as an NFL draft analyst to two seemingly unrelated events: a prominent football reporter showing up in his living room to visit a televangelist, and randomly bumping into a college roommate of his brother in a press box.

First, understand that Jeremiah is not just one in a sea of people evaluating pro prospects. He’s highly respected in the industry and, in addition to his radio work as a color analyst for Chargers games, has been the NFL Network’s go-to expert when it comes to breaking down the strengths and weaknesses of players and how they fit with a given franchise.

The former college quarterback is glib, quick on his feet and meticulously organized. Reporters turn to him — his pre-draft conference calls with NFL writers from coast to coast have sometimes lasted more than two hours — and super-secretive team scouts trust “DJ” as a peer, an extra set of eyes.

“I like to joke that I can kind of be a cross-checker for these teams,” said Jeremiah, 48, who lives in El Cajon, where he once set San Diego records for passing yards and touchdowns at Christian High. “So they’ll call and say, ‘Hey, where do you have this guy? What do you think of this player?’”

Jeremiah was once part of that world. He was a college scout with the Baltimore Ravens, Cleveland Browns and Philadelphia Eagles. But his path from quarterback at Northeastern Louisiana and Appalachian State to where he is now was anything but a straight line. It was a more unpredictable and roundabout route than any offensive coordinator would dare draw.

Roll back the clock 40 years, when his father, David Jeremiah, was the senior pastor at a Baptist church in El Cajon. Every Sunday, he would go from pew to pew greeting parishioners. Young Daniel was at his side and doing the same, perfecting a firm handshake, practicing looking people in the eye.

The elder Jeremiah would go on to launch an international radio and television ministry. His son, who remains devout, would eventually carve out a career preaching the gospel of the NFL to an audience of millions. Daniel’s description of player traits are digestible and entertaining, whether it’s his own phraseology or the language he learned after more than two decades in the business.

Daniel Jeremiah speaks with a reporter ahead of the NFL draft in Pittsburgh on Wednesday.

Daniel Jeremiah speaks with a reporter ahead of the NFL draft in Pittsburgh on Wednesday.

(Ed Rieker / Associated Press)

An unflinching running back might “choose violence,” a team that builds the line before adding skill-position talent is “putting the hardware store before the toy store,” and an edge rusher who passes the “wet paint” test can get around the corner with such lean that “If he played on a field of wet paint, he did not have a drop of paint on him at the end of the game.”

Said Charlie Yook, executive producer of content for NFL Network: “Daniel is hilarious, a funny guy. It’s a different type of humor. He doesn’t swear. He kind of has that schoolish, boyish, sarcastic type of humor, but it’s still something that everyone can relate to.”

Now, for that renown football reporter who showed up in his living room. It was the late Chris Mortensen, who covered the NFL for ESPN and regularly listened on Sunday mornings to the preachings of Dr. David Jeremiah. In 1998, when San Diego played host to the Super Bowl between Denver and Green Bay, Mortensen used the opportunity to meet his favorite radio minister. The elder Jeremiah invited him over to the house for lunch. Daniel was a college freshman home on winter break. He and Mortensen instantly bonded, and the reporter asked if he’d like to attend Super Bowl media day. Later, he invited the young man to join him at the draft in New York, giving him an assignment to work the phones.

Mortensen would give his landline number at the draft to all the team general managers, reporters and other contacts around the league. Jeremiah manned the phone “like a secretary,” took notes and relayed them during commercial breaks. Already showing a knack for organization, Jeremiah kept index cards sorted by division and by tracked receiver and cornerback needs, keeping tabs on which of those players went there.

“That draft was bigger than this draft for me personally,” Jeremiah said, sitting in the stands at an NFL event in Pittsburgh before a cluster of reporters would surround him for final observations on how the first round would unfold.

So a straight line from there to a Mortensen-like role with NFL Network? Hardly. Jeremiah’s next job was with ESPN’s “Sunday Night Football” and a gig that was football-adjacent. He traveled with that crew as a production assistant, but his role was lining up the scenic footage in every city. Say it was a Rams game in St. Louis, he was the one setting up a shoot at a root beer factory so the network had something local to show coming in and out of commercials.

He did that for two years, but eventually his knowledge of the game as a onetime quarterback made him too valuable to waste. The crew put a headset on him and he would be another set of eyes for camera operators and people in the production truck. What cornerback got beat on that play? He knew. Who’s warming up on the sideline? He was watching. How many times has the defense blitzed? He was keeping track. It was a dream job.

“I was a pig in slop,” Jeremiah said.

But it was but one slop stop in his budding career. While walking through a press box at a game, he bumped into his brother’s old college roommate, T.J. McCreight, who was scouting for the Ravens.

“He goes, ‘Hey, do you think you’d ever have any interest in scouting,’” Jeremiah recalled. “I said, ‘I’ve never … I mean, I love the draft and all that stuff. But I’ve never even thought about scouting, but yeah, absolutely I’d have interest in that.’”

Daniel Jeremiah speaks during a news conference at the NFL scouting combine in Indianapolis on Feb. 25.

Daniel Jeremiah speaks during a news conference at the NFL scouting combine in Indianapolis on Feb. 25.

(Gregory Payan / Associated Press)

Soon enough, he was meeting with Ravens executives who gave him a volunteer assignment at the combine, very high-level stuff.

“I filled the candy jar every day,” he said. “I helped get the players into the interview rooms and all that.”

But he was on his way to eventually spending four years with Baltimore, then following player-personnel director Phil Savage to his GM job with Cleveland, scouting the entire country out of Southern California. When the Browns went 4-12 in 2008, Savage and his hires, Jeremiah among them, were shown the door.

Jeremiah spent two more years with Philadelphia as a West Coast scout before taking an analyst job with NFL Network. He could do the same type of player evaluation without the zig-zagging travel, much better for a father of four.

“I left scouting,” he said. “Scouting didn’t leave me.”

The draft is his Super Bowl, and he’s aware that it’s usually the biggest day in the lives of NFL hopefuls. He keeps that in mind, especially when he’s delivering an honest critique of a player.

“I’m very cognizant of that,” he said. “I don’t know that there’s a right way to do this job or a wrong way. I just know the way that I’ve approached it, and I feel like you could really eviscerate someone on what’s literally the best day of his life. Yeah, I will never do that.”

It’s a delicate balance, though, because he wants to remain true to his scouting beliefs.

“I might not necessarily have a player going to a team,” he said. “But I can try to explain to you why I think that team did what they did. That keeps me from saying a bunch of negative things about a player. I’m not trying to kill the kid, right?”

Said Yook: “There are 200-something guys getting drafted over these three days. You don’t suck if you get drafted in the NFL. Doesn’t matter if you’re pick No. 1 or the last pick. He understands that there’s a very small percentage of people who actually get to touch grass in the National Football League.”

What’s more, people can follow all sorts of twisting paths to success. Jeremiah needs no reminder. Preaching to the choir.

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All the foreign holidays Brits can take WITHOUT flying as fuel prices rise

IT’S fair to say that there is a sense of nervousness when it comes to a holiday abroad this year.

What with warnings of summer holiday cancellations and airlines cancelling thousands of flights – it’s no wonder Brits are booking more staycations than ever.

Forget flights – you can still explore Europe and the Caribbean thanks to cruises and trains Credit: Alamy

But there is still a way to have a foreign holiday without hopping on a flight, thanks to a number of cruises, ferries, trains and car tunnels going from the UK.

Brittany Ferries, who operate a number of sailings across the UK, said that maritime fuels are not being affected, and prices won’t be going up either.

Brittany Ferries boss Christophe Mathieu said: “If you have booked with us, or are considering doing so, we will get you to a beautiful and safe holiday destination this year. Period.

“We will play no part in profiteering or seeking to recover losses from a gamble gone wrong, as some appear to be doing.

HOLI-YAY

I’ve booked hundreds of holidays to the Spanish islands – here are the very best


HOL-D OFF

Brits warned summer holidays ARE at risk of being cancelled as jet fuel runs low

“The cost of our holidays rose by inflation earlier this year, and by inflation alone. There will be no further rises in the weeks or months ahead.”

So we’ve done the hard work for you and rounded up some of the best places to go from the UK where you can avoid the having to go to the airport entirely.

Seven nights around Spain and Portugal by cruise

You don’t have to hop on a plane to explore Spain and Lisbon.

Royal Caribbean have week-long sailings from Southampton which stop at Bilbao, Lisbon and Vigo, before returning to Southampton.

Prices start from £743pp.

Eurostar train to Lille and Paris

Why not have a two city break with Eurostar, stopping at both of their French cities.

The closest city to the UK by train is Lille, taking less than two hours to get to.

You could then hope on a train the next day to explore Paris, just one stop over.

Prices from £39pp.

You could do Lille and Paris in one weekend via train, thanks to Eurostar Credit: Alamy

Eurostar train to Amsterdam and Rotterdam

In a similar vein of Paris and Lille, Eurostar also have direct trains to Amsterdam and Rotterdam.

They take slightly longer – Rotterdam is around 3hr15 while Amsterdam is just over four hours – but can easily make for a long weekend break.

Prices from £39pp.

Eurotunnel to French seaside towns

The Eurotunnel in Folkestone opens up all of Europe as long as you’re happy to travel by car.

Entering via Calais, why not explore some of France‘s best seaside towns such as Boulogne-sur-Mer and picturesque Wimereux?

Prices from £59pp.

Eurostar runs to a number of cities by train such as Amsterdam as well Credit: Alamy
The Eurotunnel is perfect for exploring the French seaside towns by car Credit: Alamy

35 days around Caribbean by cruise

If you have the time, you could explore the Caribbean for a month without having to get on a flight.

P&O will take you to St Kitts, Barbados, Grenada, St Lucia, Antigua and Barbuda, while sailing from Southampton – it even includes all your food and tips.

Prices from £2,999pp.

Seven nights around Norwegian Fjords by cruise

Also sailing from Southampton, the Celebrity Cruises trip lets you go around some of the beautiful fjords.

Stops include Haugesund, Ålesund, Nordfjordeid and Zeebrugge.

Prices start from £1,156ppbook here.

You can go on month-long cruises to the Caribbean as well Credit: Alamy
One 35-day trip takes you everywhere from Barbados to Antigua Credit: Alamy

Eurostar train to Brussels

You can even get to the the city of Brussels in Belgium by train as well, thanks to direct Eurostar routes.

It makes for a great summer holiday destination – or you can book in your Christmas Market trip now.

Prices from £39pp.

17 nights around Italian Riviera

Sail from Southampton with Fred Olsen and you could explore the Riviera in Italy, with stops in Portofino and La Spezia.

It even includes a stop in Monterosso for the annual Lemon Festival.

From £4,199ppbook here.

Why not explore the Italian coastline by cruise too? Credit: Alamy

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South Korea fuel prices rise for third straight week

Gasoline and diesel fuel prices are displayed on a screen inside a gas station in Seoul, South Korea, 19 April 2026. The average gasoline price in the country rose 0.42 won (0.0003 US dollar) from a day earlier to 2,001.93 won per liter on the same day, according to data from Korea National Oil Corp. Photo by YONHAP / EPA

April 18 (Asia Today) — Average gasoline and diesel prices at South Korean gas stations rose for a third straight week, putting both fuels on the verge of topping 2,000 won per liter.

The average nationwide gasoline price for April 12-18 stood at 1,996.3 won per liter, or about $1.36 a liter and $5.15 a gallon. That was up 28.7 won from 1,967.6 won a week earlier. Diesel averaged 1,990.2 won per liter, or about $1.36 a liter and $5.13 a gallon, up 31.1 won from the previous week.

With both fuels nearing the 2,000 won threshold, the government is set to announce its fourth maximum-price notice on Thursday. The current system partially reflects changes in global oil prices while slowing the pace of retail price increases.

By brand, SK Energy had the highest gasoline price at 2,001.8 won per liter, or about $5.16 a gallon, while self-service budget stations were the cheapest at 1,974.7 won. For diesel, SK Energy was also the highest at 1,995.2 won per liter, while budget stations posted the lowest average at 1,966.1 won.

By region, Jeju had the country’s highest average gasoline price this week at 2,029 won per liter, or about $5.23 a gallon. Seoul followed at 2,026.7 won, or about $5.23 a gallon.

International oil prices have recently eased on expectations that the conflict involving the United States and Iran could wind down. Dubai crude, the benchmark for South Korea’s imported oil, stood at $101.8 a barrel on Wednesday, down $4.7 from $106.5 on Sunday. Changes in global oil prices usually reach domestic pump prices with a two- to three-week lag.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260418010005586

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Corporate loan delinquencies rise faster than household debt

An AI-generated image illustrating banking sector risk. Generated by Asia Today

April 17 (Asia Today) — Corporate loan delinquency rates in South Korea are rising three times faster than household debt, increasing pressure on banks as lending expands, financial data showed Thursday.

According to the Financial Supervisory Service, the delinquency rate on corporate loans at domestic banks reached 0.76% at the end of February, up 0.09 percentage points from a month earlier and 0.08 points from a year earlier.

By comparison, the household loan delinquency rate rose 0.03 percentage points from the previous month to 0.45%, highlighting a much steeper increase in corporate defaults.

The corporate delinquency rate marked its highest level in nine months. Small and medium-sized enterprises recorded a rate of 0.92%, with small corporations at 1.02% and sole proprietors at 0.78%, indicating rising stress across the sector.

Delinquency rates among large corporations also increased, reaching 0.19% – the highest level in 28 months – suggesting that financial strain is spreading beyond smaller firms.

The trend comes as banks expand corporate lending under policies aimed at boosting “productive financing.” Outstanding corporate loans at the country’s five major commercial banks totaled about 859.8 trillion won ($573 billion) as of the end of March, up roughly 15.0 trillion won ($10 billion) in three months.

Loans to small and medium-sized enterprises accounted for about 79% of the total, while large corporate loans made up about 21%.

Regulators said rising delinquencies are most pronounced among smaller firms but warned that broader economic uncertainty could push default risks higher across the corporate sector.

Banks are responding by tightening risk management while maintaining lending growth. Major lenders are strengthening oversight from initial loan screening to post-loan monitoring, using systems such as early warning tools and AI-based credit assessments to identify high-risk borrowers.

Industry officials said the combination of expanding corporate lending and rising delinquency rates is rapidly increasing the burden on banks to maintain asset quality.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260417010005508

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Powerful California institutions backed Swalwell’s rise. Now they’re facing questions

Before it all came crashing down, Eric Swalwell appeared on the cusp of rising to the top of the Democratic field in the California governor’s race.

Swalwell had just announced a statewide tour and aired his first ad. The former prosecutor and Dublin city councilman launched his campaign on “Jimmy Kimmel Live!” in November, a comfortable setting for a politician who’d built a national reputation by appearing on cable news shows to attack President Trump.

Influential forces in Sacramento had begun coalescing behind the then-Bay Area congressman, including some consultants and advisors close to Gov. Gavin Newsom. Newsom hasn’t endorsed, but his associates’ involvement lent credibility to Swalwell.

Swalwell’s campaign quickly collapsed with the explosive allegations that he sexually assaulted a former staffer and had acted inappropriately with other women who were just beginning political careers. Swalwell denies the allegations but dropped out of the race for governor and resigned his seat in the House.

The whiplash over Swalwell’s rapid rise and fall has Democratic leaders facing questions about whether they had a blind spot about his alleged behavior.

His onetime allies in Congress are being asked whether they knew about his conduct, which has been described as an open secret on Capitol Hill. Unions who backed Swalwell have fled, and political consultants are returning donations.

A woman holds and speaks into a microphone.

Lorena Gonzalez, president of the California Federation of Labor Unions, speaks to Kaiser Permanente nurses and healthcare workers at the Kaiser Permanente Zion Medical Center in San Diego on Jan. 26.

(K.C. Alfred / San Diego Union-Tribune via Getty Images)

California Federation of Labor Unions President Lorena Gonzalez, whose group endorsed Swalwell and three others in the race, said she confronted Swalwell more than a month ago after hearing rumors about womanizing and illicit photos.

“He’s a liar,” Gonzalez said. “He’s just a very skillful politician who did not tell the truth even when asked directly.”

Though he was little known in much of California, Swalwell, 45, was a youthful and fresh face in a field of candidates, many of them veteran politicians, when he entered the contest.

A little more than a week ago, his campaign was on an upward trajectory. His first statewide ad emphasized his hometown roots and concerns faced by Californians, including rising costs at his favorite doughnut shop in his hometown of Dublin. He rolled out new endorsements from state and federal elected officials almost daily.

Former and current advisors close to Newsom were also helping Swalwell’s campaign, multiple sources told The Times. Others associated with the governor are also helping rival candidates.

“He’s a liar. He’s just a very skillful politician who did not tell the truth, even when asked directly.”

— California Labor Federation president Lorena Gonzalez

Other Democrats in the race said the warnings about Swalwell should have been investigated more thoroughly by the powerful California politicians and interest groups that backed him.

Antonio Villaraigosa, the former mayor of Los Angeles, called him a “flash in the pan” — someone who lacked substance.

“People thought just because he was popular on TV that maybe he had been vetted,” Villaraigosa said. “He had not been vetted.”

A seated woman links toward a man seated next to her.

Gubernatorial candidates Katie Porter and Antonio Villaraigosa share a moment while participating in a candidate forum in Los Angeles on Jan. 10.

(Christina House / Los Angeles Times)

Swalwell’s entrance into the race last fall came at a time when elected officials and leaders of powerful interest groups in Sacramento were unimpressed by the field, particularly after big-name Democrats including former Vice President Kamala Harris, Sen. Alex Padilla and state Atty. Gen. Rob Bonta had passed on running.

Steven Maviglio, a Sacramento-based Democratic consultant, said there was pressure to find the “perfect candidate” for the state’s most powerful office.

“Democrats are looking for a fighter against Trump, and he fit the bill,” Maviglio said. “That was enough for most people.”

As with most members of California’s congressional delegation, Swalwell was an unfamiliar figure to many Californians living outside his Alameda County district, even though he had a lighthearted, robust presence on social media.

He’d never held statewide office when he was elected to Congress after a career that included serving on the Dublin City Council and working as a criminal prosecutor for Alameda County.

But he appeared to be close to former House Speaker Nancy Pelosi (D-San Francisco), who selected him to be an impeachment manager for the case against President Trump in 2021.

A woman speaks into microphones at a lectern.

Former House Speaker Nancy Pelosi (D-Calif.) addresses the crowd at the California Democratic Party State Convention in San Francisco on Feb. 21, 2026.

(Christina House/Los Angeles Times)

At a forum in Washington this week, Rep. Pelosi rejected suggestions that Democrats looked past the accusations.

“None whatsoever,” she said, when asked what allegations she’d heard about.

Sen. Adam Schiff (D-Calif.), who previously worked alongside Swalwell on the House Judiciary Committee and endorsed him, said on MS NOW that he felt betrayed and “sickened” by the allegations.

“My paramount feeling is that I’m grateful these women came forward,” Schiff said. “I’m grateful that they did so when they did — it prevented our state from making a potentially terrible mistake.”

Sara Azari, an attorney for Swalwell, said in a statement that he denies all of the allegations of sexual misconduct and assault and will pursue “every legal remedy” against those making the claims.

“These accusations are false, fabricated and deeply offensive — a calculated and transparent political hit job designed to destroy the reputation of a man who has spent twenty years in public service,” Azari said.

A  woman standing behind a seated woman points to a picture of a woman and a man.

Attorney Lisa Bloom reaches toward a photo at a news conference where Lonna Drewes, left, is seen with former Rep. Eric Swalwell, at a news briefing in Beverly Hills on Tuesday. Drewes detailed a 2018 encounter in which she claimed Swalwell drugged and sexually assaulted her after offering professional mentorship.

(Myung J Chun/Los Angeles Times)

On Tuesday, Lonna Drewes accused Swalwell of drugging and raping her in 2018 while she worked as a model, an allegation now being investigated by the Los Angeles County Sheriff’s Department.

Azari, in an interview on NewsNation, said of Drewes’ allegation: “Two adults consenting, which is our position is, is not against the law.”

California Democratic Party Chairman Rusty Hicks declined to answer questions this week about whether the scandal hurts the party’s credibility, saying only that the allegations are “clear for voters: [Swalwell] is not a suitable choice.”

In an interview with The Times, Hicks said the party relies on delegates to vet candidates before endorsement votes at the party convention. While no gubernatorial candidate reached the necessary level of support to earn the endorsement at the February gathering, Swalwell had the largest share with 24%.

Gonzalez, of the labor federation, said she called Swalwell in the first week of March after being contacted by several people about his sexually inappropriate behavior.

She described the awkward conversation — and his immediate denials. None of it was true, he said. If there was anything sordid to find in his past, it would have been dug up by Trump and conservatives who went after him when he was helping to try and impeach the president, he said.

At the union group’s endorsement meeting, members grilled Swalwell about several issues, including his claimed residency in Livermore, his involvement with a nonunion film production, and his ability to manage his own finances.

The issue of inappropriate sexual behavior never came up at the endorsement, Gonzalez said.

“We were in a position, like so many, of trying to figure out who this guy was with all these red flags, but being told by a lot of surrogates that they were his choice — whether it’s people in Congress or folks who knew him from home,” Gonzalez said.

Other institutional players also threw in their support. The California Medical Assn. endorsed Swalwell early in February. The group represents more than 50,000 physicians in the state and spends heavily in elections.

“It definitely was a nod that that’s where the establishment should head,” Maviglio said.

California Medical Assn. spokesperson Erin Mellon said the group met with candidates and backed Swalwell “based on the information available to us” at the time.

Behind the scenes, Swalwell was courting attention. He began hanging out at the Grange, a favorite hotel bar in Sacramento for state lawmakers and lobbyists, trying to make connections, according to a source who ran into him there.

Months earlier, he sent a text to a California political consultant with questions about who should help his campaign. He asked about the well-known firm of Bearstar Strategies, according to the text exchange, which was viewed by The Times.

Swalwell texted, “would you recommend having our IE go to them?” to the consultant, a reference to an “independent expenditure,” which is an outside committee that raises money in support of candidates but is barred from coordinating with their campaigns.

Bearstar Strategies ultimately launched an independent committee to support Swalwell, which in recent weeks raised more than $7 million from political action committees for the California Medical Assn., DaVita and other medical industry groups, as well as Uber.

A standing man shakes hands with a seated man.

Antonio Villaraigosa, left, shakes hands with Tom Steyer during a gubernatorial candidate forum in Sacramento on April 14, 2026.

(Godofredo A. Vásquez / Associated Press)

Bearstar Strategies, whose members have long advised Newsom, also provides media consultants for a committee running attack advertisements against environmentalist Tom Steyer, another candidate in the race. Swalwell would have benefited from the committee’s spending.

Jim DeBoo, a consultant and Newsom’s former chief of staff, is helping on the anti-Steyer committee, according to multiple sources, which has raised $14 million from real estate agents’ and utility industry groups. DeBoo didn’t respond to a request for comment, and a representative for Bearstar declined a request for an interview.

No one has claimed that any of those consultants or individuals knew about Swalwell’s alleged behavior. Bearstar Strategies said in a statement last week that it had suspended all activity on Swalwell’s independent expenditure.

Jamie Court, president of the nonprofit Consumer Watchdog, said institutional groups backed Swalwell because they thought he could win and they wanted to maintain the status quo in Sacramento.

“They picked the wrong guy,” Court said.

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Alcoa anticipates $135M 2026 interest expense while environmental and ARO payments rise to about $360M (NYSE:AA)

Earnings Call Insights: Alcoa Corporation (AA) Q1 2026

Management View

  • “We had a strong start to 2026, driven by execution, and we are well positioned to deliver a strong second quarter and full year 2026 performance,” said William Oplinger (President, CEO & Director), while also pointing to continuity

Seeking Alpha’s Disclaimer: This article was automatically generated by an AI tool based on content available on the Seeking Alpha website, and has not been curated or reviewed by humans. Due to inherent limitations in using AI-based tools, the accuracy, completeness, or timeliness of such articles cannot be guaranteed. This article is intended for informational purposes only. Seeking Alpha does not take account of your objectives or your financial situation and does not offer any personalized investment advice. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.

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