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Judge blocks Alaskan oil project, Wells Fargo reinstates personal credit line, former Netflix employees charged for insider trading

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Yahoo Finance's Julie Hyman breaks down Thursday’s business headlines.

Video Transcript

- Checking on some other business headlines now. The multibillion dollar ConocoPhillips Willow oil project in Alaska has been blocked by a federal judge who said the government did not properly assess the impact on climate change as well as potential harm to polar bears. That project had been backed by both the Biden and Trump administrations and local politicians, but a coalition of environmental groups filed suit to block it. Willow, which is on the north slope of Alaska, had been designed to produce more than 100,000 barrels of oil a day for the next 30 years.

Wells Fargo is reversing a decision to shut down personal credit lines. The bank recently drew the ire of both customers and Washington when it told existing customers it was winding down their lines in part the ire coming because that can hurt credit scores. Now Wells Fargo is allowing customers to keep using lines of credit and also giving inactive credit line customers until the end of November to either use the accounts or notify the bank they want to keep them open.

And the Securities and Exchange Commission has charged three former Netflix engineers and two associates with insider trading. That group allegedly used inside information on subscriber growth ahead of 13 earnings announcements to make over $3 million. The group, which included a set of brothers and their friends shared the information through encrypted messaging apps from 2016 to 2019 according to the government, Miles?

- I wonder who has the rights to that story, look forward to the mini series there. Perhaps, perhaps they'll find a buyer for.