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☆ Beyoncé is sending Levi’s and Western boot sales soaring
▼ + stars: | 2024-04-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

All of which has apparently sent fans flocking to Levi’s for denim jeans, denim jackets and Western clothing since the album was released on March 29. Levi’s has made its own moves to capitalize on Beyoncé namechecking the brand and the extra attention it’s receiving. Angus Mordant/Bloomberg/Getty Images“Act II: Cowboy Carter” has also led to a rise in Western boot sales. Sales spiked another 45% the following week when “Texas Hold ‘Em” reached the top of Billboard’s Hot 100 chart, Circana said. Beyoncé has also lifted Western boot sales at Calares, a women’s shoe and accessories chain, said Dana Telsey, a retail analyst at Telsey Advisory Group.

Persons: Bey, Cowboy Carter, Post Malone, Levi’s, ”, Michelle Gass, Beyoncé, Angus Mordant, Cowboy Carter ”, Circana, Taylor Swift, Beth Goldstein, Dana Telsey, Etsy, Th, CNN’s Lisa France Organizations: New, New York CNN, Bloomberg, Getty, Circana, Telsey Advisory, Billboard, Deutsche Bank Locations: New York, Pass_by, Instagram, Stockholm

☆ Coterra uses its flexibility to deliver what matters most to investors in energy
▼ + stars: | 2024-02-22 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Coterra Energy slightly missed earnings expectations on Thursday, but the oil and natural gas producer delivered where it matters most: free cash flow. This new era rewards the energy players that focus on dividends and buybacks, both of which depend on strong, consistent cash flow production. And Coterra delivered, with beats on discretionary and free cash flow. Though the discretionary cash flow guide is disappointing, the ultimate impact is mitigated by this flexibility because it allows for the most efficient use of cash. A flare burns excess natural gas in the Permian Basin in Loving County, Texas, U.S. November 23, 2019.

Persons: Coterra, Tom Jorden, Marcellus, Jim Cramer's, Jim Cramer, Jim, Angus Mordant Organizations: Energy, LSEG, Coterra, Management, CNBC Locations: Loving County , Texas, U.S

☆ Morgan Stanley’s Vikram Raju Sees Opportunities in Clean Energy’s ‘Missing Middle’
▼ + stars: | 2024-01-13 | by ( Luis Garcia | ) www.wsj.com time to read: 1 min

Morgan Stanley’s headquarters is in New York. Photo: Angus Mordant/Bloomberg NewsA sharp decline in the value of clean-energy companies last year delivered a wake-up call to investors, many of whom harbored excessively optimistic views of the industry, according to private-equity fund managers. As more investors in the clean-energy sector retune their “focus on fundamentals,” some of the best investment opportunities can be found in companies that have developed beyond the startup stage but still aren’t big enough to attract managers of increasingly large industry-specialist funds, said Vikram Raju , a managing director at Morgan Stanley . Raju leads climate private-equity and credit investing at Morgan Stanley Investment Management, the bank’s $1.4 trillion alternative investment arm, and heads the firm’s 1GT strategy of backing companies that aim to reduce greenhouse gas emissions.

Persons: Morgan Stanley’s, Angus Mordant, Vikram Raju, Morgan Stanley, Raju Organizations: Bloomberg, Morgan Stanley Investment Management Locations: New York

☆ The Stocks Investors Are Putting Under the Tree
▼ + stars: | 2023-12-03 | by ( Hardika Singh | ) www.wsj.com time to read: 1 min

Victoria’s Secret shares are up 52% since mid-November although it reported a second consecutive quarterly loss on Wednesday. Photo: Angus Mordant/Bloomberg NewsRetailers are making modest predictions about the holiday shopping season—and their stocks are going gangbusters in response. Victoria’s Secret , Foot Locker , Ulta Beauty and Dollar Tree are among the companies that offered somewhat mixed assessments of the state of the shopper last week. Yet each received an ovation from investors.

Persons: Angus Mordant Organizations: Bloomberg News Retailers

☆ U.S. Oil Land Grab Continues
▼ + stars: | 2023-12-01 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Occidental’s talks to buy CrownRock follow a series of Permian basin deals inked this year. Photo: ANGUS MORDANT/REUTERSIt’s a seller’s market in the U.S. oil patch. Occidental Petroleum is in talks to buy CrownRock, one of the last remaining private companies of scale in the Permian basin, The Wall Street Journal reported on Wednesday. If the deal goes through, it would be the latest in a string of mergers and acquisitions this year, including Exxon Mobil ’s $64.5 billion purchase of Permian giant Pioneer Natural Resources .

Persons: Occidental’s, ANGUS MORDANT Organizations: REUTERS, Occidental Petroleum, Street, Exxon Mobil ’, Natural Resources Locations: U.S

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday, an OPEC+ source said on Monday. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman, David Gregorio Our Organizations: REUTERS, HOUSTON, Brent, . West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, U.S . Commodity Futures Trading Commission, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel, while U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. "We still expect an extension of the unilateral Saudi and Russia cuts through at least the first quarter of 2024," the bank added. Higher crude stockpiles in the United States have also put downward pressure on prices, analysts said. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman Organizations: REUTERS, HOUSTON, Brent, U.S, West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

☆ Brent slips toward $80/bbl ahead of OPEC+ meeting
▼ + stars: | 2023-11-27 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo Acquire Licensing RightsSINGAPORE, Nov 27 (Reuters) - Oil prices slipped on Monday, with Brent falling toward $80 a barrel, as investors awaited the OPEC+ meeting later this week for an agreement to curb supplies into 2024. Since then, the group has moved closer to a compromise, four OPEC+ sources told Reuters on Friday. Ahead of the OPEC+ meeting, estimated exports by OPEC countries have declined to 1.3 million barrels per day below levels in April, Goldman Sachs analysts said in a note, in line with the group's supply targets. The International Energy Agency said it expects a slight surplus in global oil markets in 2024 even if the OPEC+ nations extend their cuts into next year.

Persons: Angus Mordant, Brent, Goldman Sachs, Vivek Dhar, Florence Tan, Sonali Paul Organizations: REUTERS, Rights, Brent, U.S, West Texas, Organization of, Petroleum, Reuters, Friday, ING, OPEC, United, International Energy Agency, Commonwealth Bank, IEA, Thomson Locations: Loving County , Texas, U.S, Rights SINGAPORE, OPEC, Saudi Arabia, Russia, Saudi, United Arab Emirates, Gaza

☆ American Borrowers Are Getting Closer to Maxing Out
▼ + stars: | 2023-11-25 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Some people are starting to consume more of their available credit from month to month. Photo: Angus Mordant/Bloomberg NewsA happy holiday shopping season might not end up being an especially cheery time for lenders. The trend suggests that consumers still are willing and able to use their cards, portending well for retailers. U.S. retail sales slowed in October, but by less than feared, and were still at an overall solid level. Some retail stocks have jumped recently on hopes for holiday shopping.

Persons: Angus Mordant, Goldman Sachs Organizations: Bloomberg, U.S

☆ Oil slips 1% on concerns over delayed OPEC+ meeting
▼ + stars: | 2023-11-23 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid 75 cents, or 1%, to $76.35 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed a ministerial meeting at which they were expected to discuss oil output cuts to Nov. 30. OPEC+ members Angola and Nigeria are aiming for higher oil output, officials told Reuters on Thursday. "However, it may be more difficult to bridge the gap with Angola, which has been a moodier member of the producer group since it joined in 2007."

Persons: Angus Mordant, Helima Croft, Phil Flynn, Nia Williams, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman, Alexandra Hudson, Marguerita Choy, Jonathan Oatis Organizations: REUTERS, Brent, . U.S . West Texas, U.S, Organization of, Petroleum, Producers, Reuters, Capital Markets, Price Futures Group, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Nigeria, Saudi Arabia, Chicago, British Columbia, London, Houston, Beijing

☆ Oil slips 2% on growing angst over delayed OPEC+ meeting
▼ + stars: | 2023-11-23 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid $1.37, also about 1.4%, to $75.73 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting at which they were expected to discuss oil output cuts. Angola, Congo and Nigeria are seeking to raise their 2024 supply quotas above the provisional levels agreed at the June meeting of the OPEC+ producer group. The questions over OPEC+ supply come as data showed that U.S. crude stocks jumped by 8.7 million barrels last week, much more than the 1.16 million build analysts had expected.

Persons: Angus Mordant, Helima Croft, Tamas Varga, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman, Alexandra Hudson Organizations: REUTERS, Brent, . U.S . West Texas, Organization of, Petroleum, Producers, Capital Markets, Alexandra Hudson Our, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Congo, Nigeria, Saudi Arabia, London, Houston, Beijing

☆ Oil slips 1% on growing angst over delayed OPEC+ meeting
▼ + stars: | 2023-11-23 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid 86 cents, also about 1.1%, to $76.24 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting at which they were expected to discuss oil output cuts. Angola, Congo and Nigeria were seeking to raise their 2024 supply quotas above the provisional levels agreed at the June meeting of the OPEC+ producer group, analysts said. The questions over OPEC+ supply come as data showed that U.S. crude stocks jumped by 8.7 million barrels last week, much more than the 1.16 million build analysts had expected.

Persons: Angus Mordant, Helima Croft, Tamas Varga, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman Organizations: REUTERS, Brent, . U.S . West Texas, Organization of, Petroleum, Producers, Capital Markets, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Congo, Nigeria, Niger, Saudi Arabia, London, Houston, Beijing

☆ Oil down more than 1% as uncertainty swirls over delayed OPEC+ meeting
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. In a surprise move, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting where they were expected to discuss oil output cuts. Producers were struggling to agree on output levels and hence possible reductions ahead of the meeting originally set for Nov. 26, OPEC+ sources said. Analysts said that Angola, Congo and Nigeria were seeking to raise their 2024 supply quotas above the provisional levels agreed at the OPEC+ June meeting. U.S. oil rigs remained unchanged at 500 in the week to Nov. 22, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Wednesday.

Persons: Angus Mordant, Baker Hughes, Brent, Helima Croft, RBC's Croft, Arathy Somasekhar, Andrew Hayley, Sonali Paul, Muralikumar Organizations: REUTERS, OPEC, . U.S . West Texas, Trade, Organization of, Petroleum, Producers, RBC Capital Markets, ING Bank, U.S . Coast Guard, Thomson Locations: Loving County , Texas, U.S, ., United States, Russia, OPEC, Angola, Congo, Nigeria, Niger, Saudi Arabia, Gulf of Mexico, Houston, Beijing

☆ Oil edges lower in choppy trade as OPEC+ delays meeting
▼ + stars: | 2023-11-22 | by ( Nicole Jao | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. The delay stoked concerns that more production could come online from oil producers in the coming months, said Dennis Kissler, senior vice president of trading at BOK Financial. A rise in inventories also pressured prices lower on Wednesday morning, he said. U.S. crude oil inventories rose by 8.7 million barrels last week on higher imports, the Energy Information Administration (EIA) said. To support prices, OPEC and its allies will need to not only extend, but increase cuts, said John Evans of oil broker PVM in a note.

Persons: Angus Mordant, Dennis Kissler, John Evans, Nicole Jao, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely, Marguerita Choy, David Gregorio, Deepa Babington Organizations: REUTERS, . West Texas, U.S, Organization of, Petroleum, BOK, Energy Information Administration, U.S ., greenback, Reuters, International Energy, Thomson Locations: Loving County , Texas, U.S, Brent, OPEC, Saudi Arabia, Russia

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo Acquire Licensing RightsSummaryCompanies OPEC+ meeting delayed to Nov. 30Brent falls below $80Eyes on whether OPEC+ cuts will be rolled over or deepenedLONDON, Nov 22 (Reuters) - Oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts. OPEC+ delayed its ministerial meeting to Nov. 30 from Nov. 26 as previously scheduled, OPEC said in a statement, a surprise development that gave no reason for the postponement. Earlier on Wednesday, Bloomberg News reported that the OPEC+ meeting could be delayed for an unspecified period of time after Saudi Arabia expressed its dissatisfaction with other members about their output numbers. Analysts had predicted before the delay that OPEC+ was likely to extend or even deepen oil supply cuts into next year.

Persons: Angus Mordant, Brent, Rong Yeap, John Evans, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely Organizations: REUTERS, Brent, . West Texas, OPEC, Wednesday, Bloomberg News, Reuters, Organization of, Petroleum, IG, International Energy, Thomson Locations: Loving County , Texas, U.S, Saudi Arabia, Russia, OPEC, London

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. crude stocks rose by 3.6 million barrels last week to 421.9 million barrels, according to the U.S. Energy Information Administration (EIA), far exceeding analysts' expectations in a Reuters poll for a 1.8 million-barrel rise. Diesel inventories fell more than expected at 1.4 million barrels. The International Energy Agency on Tuesday joined OPEC in raising oil demand growth forecasts for this year, despite projections of slower economic growth in many major countries. European Union diplomats said Russian oil tankers are not targeted in the European Commission's proposal for tightening implementation of a price cap on the country's crude oil.

Persons: Angus Mordant, Brent, John Kilduff, Arathy Somasekhar, Paul Carsten, Sudarshan Varadhan, Laura Sanicola, Marguerita Choy, David Gregorio Our Organizations: REUTERS, HOUSTON, . West Texas, U.S . Energy Information Administration, Organization of, Petroleum, International Energy Agency, Tuesday, Financial Times, Thomson Locations: Loving County , Texas, U.S, contango, Asia, New York, Saudi Arabia, Russia, OPEC, Denmark, Houston, London

☆ Oil set for third weekly decline as demand worries weigh
▼ + stars: | 2023-11-10 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Both contracts are set to fall about 5% on the week. "Concerns about demand have replaced the fear of production outages related to the Middle East conflict," Commerzbank said. Weak Chinese economic data this week increased worries of faltering demand. Additionally, refiners in China, the largest buyer of crude oil from the world's largest exporter Saudi Arabia, asked for less supply from Saudi Arabia for December.

Persons: Angus Mordant, Commerzbank, Helima Croft, Sudarshan Varadhan, Nick Macfie Organizations: REUTERS, Brent, U.S, West Texas, of, Petroleum, RBC Capital Markets, Citi, Thomson Locations: Loving County , Texas, U.S, refiners, China, Saudi Arabia, Russia, Singapore

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures for January were flat at $80.01 a barrel at 0157 GMT, while the U.S. West Texas Intermediate (WTI) crude futures for December were at $75.67, down 7 cents. "The conflict remains well contained within Gaza, despite concerns it would escalate as neighbouring Arab nations show their displeasure." The sense supply disruptions from the Israel-Hamas conflict are easing is occurring as concerns around demand, especially from China, the world's largest oil importer, are rising. Additionally, refiners in China, the largest buyer of crude oil from the world's largest exporter Saudi Arabia, asked for less supply from Saudi Arabia for December.

Persons: Angus Mordant, Brent, WTI, Israel, Sudarshan Varadhan, Christian Schmollinger Organizations: REUTERS, Rights, Brent, U.S . West Texas, ANZ Research, Citi, of, Petroleum, Thomson Locations: Loving County , Texas, U.S, Rights SINGAPORE, Israel, Gaza, China, refiners, Saudi Arabia

☆ Fed Probes Morgan Stanley’s International Wealth-Management Practices
▼ + stars: | 2023-11-09 | by ( Annamaria Andriotis | ) www.wsj.com time to read: 1 min

Wealth management is a critical source of revenue for Morgan Stanley that helps offset droughts in deal making and trading. Photo: Angus Mordant/Bloomberg NewsMorgan Stanley ’s wealth-management arm is being scrutinized by the Federal Reserve, which is looking into whether the bank has sufficient controls in place to prevent rich foreign customers from laundering money. The Fed has been probing how Morgan Stanley vets foreigners and the origins of their money before taking them on as customers, according to people familiar with the matter. What started out as a routine review a few years ago escalated after regulators found the bank’s due diligence on clients and anti-money-laundering efforts lacking.

Persons: Morgan Stanley, Angus Mordant, Bloomberg News Morgan Stanley ’ Organizations: Bloomberg News, Federal Reserve

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Also weighing on prices, U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, citing American Petroleum Institute figures. Data from China, the world's biggest crude oil importer, showed its total exports of goods and services contracted faster than expected, feeding worries about the energy demand outlook. Analysts from Goldman Sachs estimated seaborne net oil exports by six countries from oil producer group OPEC will remain only 600,000 bpd below April levels. The government eased restrictions on Oct. 6, allowing diesel exports by pipeline, but kept measures on gasoline exports.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Phil Flynn, Nikolai Shulginov, Brent, Stephanie Kelly, Paul Carsten, Muyu Xu, Marguerita Choy, David Gregorio Our Organizations: REUTERS, bbl, YORK, Brent, ING, American Petroleum Institute, U.S . Energy Information Administration, Price Futures, Goldman, OPEC, Barclays, Thomson Locations: Loving County , Texas, U.S, Russia, China, Israel, Gaza, Beijing, OPEC, Moscow

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, citing American Petroleum Institute figures. Data from China, the world's biggest crude oil importer, showed its total exports of goods and services contracted faster than expected, feeding worries about the energy demand outlook. Tempering supply concerns, analysts from Goldman Sachs estimated seaborne net oil exports by six countries from oil producer group OPEC will remain only 0.6 million bpd below April levels. In more bullish news for crude prices, OPEC expects the global economy to grow and drive fuel demand despite economic challenges including high inflation and interest rates.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Phil Flynn, Stephanie Kelly, Paul Carsten, Muyu Xu, David Goodman, David Gregorio Our Organizations: REUTERS, Brent, ING, U.S . Energy Information Administration, EIA, American Petroleum Institute, Price Futures, Goldman, OPEC, Thomson Locations: Loving County , Texas, U.S, United States, China, Israel, Gaza, Beijing

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. They were referring to an easing in tight oil supply conditions. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late Tuesday, citing American Petroleum Institute figures. Crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall, the EIA said on Tuesday. Data in China, the world's biggest crude oil importer, also raised doubts about the demand outlook.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Stephanie Kelly, Muyu Xu, Shri Navaratnam Organizations: REUTERS, Brent, ING, American Petroleum Institute, U.S . Energy Information Administration, EIA, Goldman, U.S ., OPEC, Thomson Locations: Loving County , Texas, U.S, United States, China

☆ Disney earnings: Company plans to slash costs by $2 billion more
▼ + stars: | 2023-11-08 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

The company announced it would slash expenses by another $2 billion, adding to the $5.5 billion reduction it had previously announced, which included thousands of job cuts. Meanwhile, the company continues to lose money in its Disney+ streaming business, but it managed to significantly reduce its losses in that division. The company reported revenue of $21.2 billion, coming in slightly below expectations of $21.3 billion, according to estimates from analysts surveyed by Refinitiv. The company said it was “aggressively managing its cost base,” planning to slash $2 billion more in costs than previously reported. “We are bullish about the future of our streaming business,” Iger said.

Persons: Los Angeles CNN — Disney, Bob Iger, Angus Mordant, Ron DeSantis, “, ’, Kevin Lansberry, Lansberry, ”, “ We’re, Iger, ” Iger Organizations: Los Angeles CNN, Disney, Times, Bloomberg, Getty, Republican, Gov, Walt Disney World, ESPN, ABC, Disney Channel, Geographic, “, ABC Network, CNBC Locations: New York, Central Florida, Disney’s, Canada, Hulu

☆ Drugstore closures could make pharmacy deserts even worse
▼ + stars: | 2023-11-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

Pharmacy closures have been a problem for years. “You had a routine: You would go to a pharmacy that was geographically accessible — ideally affordable — was probably preferred for your health insurance plan. Thompson, who himself lives close to a pharmacy in the South Side, said there is now more pressure on remaining locations. But chain closures aren’t likely to lead to more business for independents, which face challenges apart from competition from national chains. Recently, pharmacy workers have been staging walkouts over working conditions they say put patients at risk.

Persons: drugstores, Jenny Guadamuz, ”, “, Guadamuz, Melvin Thompson, Thompson, We’re, Angus Mordant, Omolola Adepoju, University of Houston’s Tilman J, Douglas Hoey, PBMs, Hoey, JC Scott, ” Hoey Organizations: New, New York CNN, CVS, Walgreens, Aid, UC Berkeley School of Public Health, Health Policy, Management, Endelo Institute, Bloomberg, Getty, National Community Pharmacists Association, USC, University of, Fertitta Family College of Medicine, Rite, Walmart, Target, Pharmacy, Pharmaceutical Care Management Association Locations: New York, Chicago, United States

The wave of sales has reversed much of the 398 million barrels purchased between the end of June and the middle of September. WTI SQUEEZE ENDSIn the seven days ending on October 31, selling was led by crude (-78 million barrels), especially NYMEX and ICE WTI (-62 million barrels), with a smaller contribution from Brent (-16 million). The remaining position (153 million barrels) was the lowest for 16 weeks since July 11 (128 million barrels). Crude inventories around the NYMEX delivery point at Cushing in Oklahoma depleted to just 22 million barrels at the end of September from 43 million barrels at the end of June. But most of the sales have come in European gas oil (-49 million barrels) rather than U.S. diesel (-6 million) reflecting the poor outlook for the European economy.

Persons: Angus Mordant, Cushing, John Kemp Organizations: REUTERS, U.S, ICE, diesel, Funds, U.S . Commodity Futures Trading Commission, Thomson, Reuters Locations: Loving County , Texas, U.S, North America, Europe, China, Iran, Israel, Cushing, Oklahoma, WTI, NYMEX

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