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So the Fed can keep interest rates higher for longer to cool price rises — although the central bank also has room to cut should the labor market "unexpectedly weaken," Powell added. Related storyHigher interest rates make borrowing more expensive for anything from mortgages to credit cards — it encourages people to save rather than spend, which in theory, helps bring down prices. AdvertisementConversely, lower interest rates encourage borrowing and spending — thus driving the economy when growth slows, such as during the COVID-19 pandemic when the Fed cut rates massively and pumped money into the system. But Reid thinks the excess money could be drained from the economy later this year, when money supply in the economy normalizes. AdvertisementDemand, supply chain snarls, and fiscal stimulus also contribute to inflationTo be sure, money supply isn't the only thing that contributes to inflation.
Persons: , Jerome Powell, Powell, Jim Reid, it's, Reid, Bill Dudley Organizations: Service, Wilson Center, Business, Fed, Deutsche Bank, Federal Reserve, Bloomberg Locations: Washington, New York, Dudley
Dudley: The markets appear to be in a "Goldilocks" scenario
  + stars: | 2024-04-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDudley: The markets appear to be in a "Goldilocks" scenarioKatrina Dudley of Franklin Mutual Advisers discusses the "triangle of tension" between inflation, growth and interest rates, and what risks still exist for the markets the rest of the year.
Persons: Dudley Organizations: Franklin Mutual Advisers
The expansion of government-subsidized housing loans meant that cheap space was also easy to come by, as New York had a then-ample stock of residential and industrial buildings. But the city has always romanticized artist-dominated buildings, the kinds of communal spaces in which every unit might be home to an artist’s studio (and sometimes, unofficially, their residences, too). In an almost unheard-of feat of perseverance, the same artist, Don Dudley, 93, has been working out of this loft since 1971. So artists have had to create a kind of whisper network to withstand New York’s unimpeachable forward march, which the art market has, ironically, enabled. Most of them are temporary fixes before an artist — who’s grown out, or been priced out, of their space — has to move on.
Persons: Bill, Don Dudley, What’s, it’s, — who’s Organizations: Veterans, Pop Art, Brooklyn Army, Financial, Artists Locations: Europe, Paris, New York, York, Sunset, Williamsburg , Brooklyn, Ridgewood , Queens, TriBeCa, , Manhattan, Brooklyn, Queens
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are opportunities outside of mega-cap tech, says Katrina DudleyKatrina Dudley, Investment Strategist at Franklin Mutual Advisers, discusses mega-cap tech and other pre-market movers.
Persons: Katrina Dudley Katrina Dudley Organizations: Franklin Mutual Advisers
In the 1960s, Joe and Eunice Dudley were newly married and selling S.B. Fuller beauty products door to door in New York City. Imbibing his training and message, the Dudleys took their door-to-door Fuller venture to North Carolina. And when the Fuller company had manufacturing problems, they began making their own products: scalp creams, oil shampoos and pomades that they mixed at home and poured into old mayonnaise jars. Ms. Dudley typed the labels, and their children screwed on the jar tops after the products had cooled and set overnight.
Persons: Joe Louis Dudley, Ursula Dudley Oglesby, Joe, Eunice Dudley, Fuller, Dudley Organizations: Fuller, Company Locations: Kernersville, N.C, Winston, Salem, Fuller, New York City, Chicago, North Carolina
Read previewWhen it comes to settling down and having children, 26-year-old Bihan Chen views the choice in simple terms: It's a bad investment. Falling birth rates saw China's population shrank in 2022 for the first time since the early 1960s. "When it comes to having children, I don't have a shred of desire, only fear. AdvertisementOthers cited the loss of personal freedom as a key obstacle to having children. Having children remains a deeply personal decision that can't be evaluated by finances alone.
Persons: , Chen, Emily Huang, Huang, Xi Jinping, Xi, Zhu Zheng, haven't, Dudley L, Poston Jr, Rich, we've, Lanjie Wang, Wang, Collin Meisel, might've, Yi Organizations: Service, Business, Women's Congress, Getty, Texas, M University, Weibo, University of Denver's, Center for International Futures, Publishing, University of Wisconsin, Project Syndicate Locations: China, Beijing, Weibo, Xinhua, Japan, Korea, America, Madison
Auchincloss, a 53-year-old Canadian who was BP’s chief financial officer for more than three years, took on the top job in September after Looney's surprise resignation. Auchincloss joined BP when it took over oil firm Amoco in 1998. “Since September, BP’s board has undertaken a thorough and highly competitive process to identify BP’s next CEO, considering a number of high-caliber candidates in detail,” BP chairman Helge Lund said. He was denied 32.4 million-pound ($41 million) worth of salary, pension, bonus payments and shares, after BP said he had committed “serious misconduct” by misleading the board. BP has had four different bosses over the past 15 years.
Persons: Murray Auchincloss, Bernard Looney, Looney's, Auchincloss, BP’s, , Helge Lund, Lund, ” Auchincloss, Charlie Kronick, ” Kronick, ” Looney, Bob Dudley Organizations: BP, Amoco, RBC Capital Markets, Greenpeace Locations: , Gulf of Mexico
After spending the past two years trying to get inflation under control by raising interest rates, the Fed is inching toward cutting rates soon. Setting interest rates should be about weighing costs and benefits for everyone, not engineering outcomes for a favored constituency. When people (usually those with a vested political interest) try to accuse the Fed of being biased, it erodes confidence. The real reason for the accusationsThe entire conspiracy theory about a political Fed is weak on its face and baseless on its merits. What makes anyone so sure they'll fare better in 2024 with the rate of inflation slowing, interest rates falling, and stocks rising?
Persons: there's, it's, Joe Biden's, Jerome Powell, Donald Trump, Biden, It's, Trump, Ro Khanna, Powell, Taylor, Bill Dudley, Dudley, Dudley's, Chris Waller Organizations: Federal Reserve, Fed, Democratic, Trump, Biden, New York Fed Locations: Canada, Australia, Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're in the final mile in the fight against inflation, says Katrina DudleyKatrina Dudley, Investment Strategist & Portfolio Manager at Franklin Mutual Advisers, discusses markets into year-end and the key economic catalysts she's watching.
Persons: Katrina Dudley Katrina Dudley Organizations: Investment, Franklin Mutual Advisers
The Best TV to Stream This Thanksgiving
  + stars: | 2023-11-22 | by ( Elyssa Dudley | Lynn Levy | Daniel Ramirez | ) www.nytimes.com   time to read: 1 min
‘Wrestlers’From the director of “Cheer” and “Last Chance U,” the documentary series “Wrestlers” is about the members of the Ohio Valley Wrestling league, including a mother and daughter who take their real-life drama to the ring. Where to watch: The full seven-episode series is available on Netflix.
Organizations: Ohio Valley Wrestling, Netflix
NHS diabetes patients – including Gradwell, who went for weeks without full medication – pay nothing for their medication. The shortage persists even after Ozempic's manufacturer Novo Nordisk (NOVOb.CO) launched Wegovy, a semaglutide drug solely for weight loss, in September. Rightangled told Reuters it is within its rights to continue to prescribe Ozempic for weight loss. Two had stopped offering it for weight loss by October, but Rightangled continued to make it available as of Nov. 17, Reuters found. He said his oncologist said that while he could not prescribe Ozempic, it would be good for his health if he took it for weight loss.
Persons: Kim Gradwell, , John, it's, Rightangled, Gradwell, Penny Ward, I've, Abdullah Sabyah, Ward, Juniper, Ben, Doctors, Novo, Ozempic, semaglutide, prescribers, Rightangled's Sabyah, Tyne wasn't, Gradwell's, Yaasir Mamoojee, We've, Maggie Fick, Marine Strauss, Charlotte Van Campenhout, Chad Terhune, Sara Ledwith, Josephine Mason Organizations: Diabetes, National Health Service, Novo Nordisk, King's College, Department of Health, Social Care, John, Reuters, Oxford University ., NHS, Alliance Healthcare, Alliance, Diabetes UK, NICE, semaglutide, Oxford University, General Pharmaceutical Council, Tyne, Thomson Locations: Dudley , North Tyneside, Britain, Novo, United States, London, U.S, England, Europe, Ozempic, Newcastle, Brussels, Los Angeles
The New York Times Audio app is home to journalism and storytelling, and provides news, depth and serendipity. If you haven’t already, download it here — available to Times news subscribers on iOS — and sign up for our weekly newsletter.
Organizations: New York Times
How do you sift through Mexico City’s roughly 57,000 places to eat — more than twice as many as there are in New York City — and choose the most essential dishes? “In a city like Mexico City, how do you narrow it down? Or weirdly French,” says Valdivia Nakatani) and appeared designed to appeal to the recent stampede of expats. Nostalgia came up a lot in our conversation, but that’s not to say that innovation was overlooked entirely. Consider it an inspiration to make your own, and you’ll see just how absurd and deeply gratifying an exercise it can be.
Persons: , Gabriela Cámara, Cámara, I’d, Ana Dolores, Anais Martinez, Alonso Ruvalcaba, México ”, Carla Valdivia Nakatani, whittle, Cámara’s Contramar, that’s, Deborah Dunn Organizations: Mexico City Locations: Mexico, New York City, Mexico City, Condesa, Narvarte, Manhattan, Roma, Paris, New York, Jenni’s, Al, Andalus, Valdivia
Patrick Parker Walsh is serving five and half years in federal prison for stealing nearly $8 million in federal COVID-19 relief funds that he used, in part, to buy the island. Instead, he's serving five and half years in federal prison for stealing nearly $8 million in federal COVID-19 relief funds that he used, in part, to buy Sweetheart Island. They potentially plundered more than $280 billion in federal COVID-19 aid; another $123 billion was wasted or misspent. They've created special "strike forces " to hunt down COVID-19 aid thieves and vowed not to give up the chase. A few weeks after Oudomsine applied for the pandemic aid, the government rushed him $85,000 to keep his non-existent business afloat.
Persons: Richard Lardner, Patrick Parker Walsh, Julio Aguilar, he's, fraudsters, Donald Trump, Ivanka Trump, James Brady, Trump, Alex Wong, Bob Westbrooks, Westbrooks, They've, Lisa Monaco, General Merrick Garland, Garland, David Weiss, Hunter Biden, Joe Biden, Drew Angerer, Konstantinos Zarkadas, Cartier, Zarkadas, Lee E, Price III, Price, Vinath Oudomsine, Oudomsine, Mickey Mantle, Dudley H, Bowen, Patrick Walsh's, Walsh, Jamie Lovemark, Kevin Lamarque Organizations: Press, AP YANKEETOWN, Associated Press ., James, Getty, YouTube, U.S . Justice, Top Justice Department, U.S, U.S . Department of Justice, Rolex, Houston, Associated Press, National Transportation Safety Board, Bethany Locations: Yankeetown, Fla, Sweetheart, Coast, Florida's, Florida, Associated Press . WASHINGTON, DC, U.S, Washington ,, Las Vegas, Tennessee, Vermont, COVID, Washington , DC, New York, Houston, Georgia, America, Bethany Beach , Delaware
Barbra Streisand’s long-awaited memoir, “My Name Is Barbra,” is nearly a thousand pages of soul-baring and score-settling — with plenty of Yiddish thrown in. Wesley Morris and Alexandra Jacobs discuss the book’s most surprising revelations. Plus, we get a glimpse of Wesley’s visit with the living legend at her Malibu home. On today’s episode
Persons: Barbra Streisand’s, , baring, Wesley Morris, Alexandra Jacobs Locations: Malibu
In this article BP.-GBMSFTBKR Follow your favorite stocks CREATE FREE ACCOUNTThis image from 2016 shows a carbon capture project in Texas. Other processes in the sector include direct air capture, with firms like Climeworks operating in the space. Climeworks, which specializes in direct air capture and storage, has offices in Switzerland and Germany. Its clients include businesses such as Stripe and Microsoft , and the Microsoft Climate Innovation Fund has invested in the company. While carbon capture has its advocates, the technology is divisive and has been questioned by a range of organizations.
Persons: Baker Hughes, Lorenzo Simonelli, Simonelli, Bill Gates, Gates, Bob Dudley, there'll, We've, Dudley, — that's Organizations: Houston Chronicle, hearst Newspapers, Getty, Hearst Newspapers, CNBC, ADIPEC, U.S . Department of Energy, Microsoft, Innovation Fund, BBC, Breakthrough Energy, International Energy Agency, Greenpeace Locations: Texas, Abu Dhabi, United States, Europe, Switzerland, Germany, Kenya, Paris
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDudley: Pay close attention to how companies respond to the surge in yieldsKatrina Dudley, Investment Strategist at Franklin Mutual Advisers, discusses how higher yields are impacting stocks and her investment strategy.
Persons: Katrina Dudley Organizations: Franklin Mutual Advisers
The report from the Strategic Posture Commission comes amid tensions with China over Taiwan and other issues and worsening frictions with Russia over its invasion of Ukraine. A senior official involved in the report declined to say if the panel's intelligence briefings showed any Chinese and Russian nuclear weapons cooperation. The report contrasts with U.S. President Joe Biden's position that the current U.S. nuclear arsenal is sufficient to deter the combined forces of Russia and China. "The United States and its allies must be ready to deter and defeat both adversaries simultaneously," the Strategic Posture Commission said. It should also extend the operational lives of ballistic missile submarines and deploy more tactical nuclear weapons in Asia and Europe.
Persons: Ian Dudley, Madelyn, Jon Kyl, Joe Biden's, Jonathan Landay, Lisa Shumaker Organizations: Minuteman, Daylight, Vandenberg Air Force Base, . Air Force, REUTERS, Rights, Democratic, Republican, Thomson Locations: California, U.S, Handout, United States, Russia, China, Taiwan, Ukraine, Russian, Asia, Europe
Arun Sankar | Afp | Getty ImagesFormer BP CEO Bob Dudley on Tuesday said that Bernard Looney's abrupt resignation last month came as a shock and denied any prior knowledge of the latter's past personal relationships with colleagues. Looney succeeded Dudley, who stood down as BP CEO in 2020. He informed the company that he was not "fully transparent in his previous disclosures" about relationships with colleagues before becoming CEO, BP said. "Things at BP are OK. We move forward as you would expect, despite the change that happens," interim BP CEO Murray Auchincloss said Monday during a CNBC-moderated ADIPEC panel session. Dudley — who now chairs the Oil and Gas Climate Initiative, an organization backed by BP, Saudi Aramco, Exxon Mobil and other Big Oil firms — echoed Auchincloss' view.
Persons: Bernard Looney, Arun Sankar, Bob Dudley, Bernard Looney's, Dudley, Looney, Murray Auchincloss, Auchincloss, It's, Dudley — Organizations: Afp, Getty, BP, Financial Times, CNBC, Abu Dhabi International Progressive Energy Congress, BP Plc, Abu, Abu Dhabi International Petroleum Exhibition, United, Bloomberg, Climate Initiative, Exxon Mobil, Big Oil Locations: New Delhi, Abu Dhabi, United Arab Emirates, Saudi Aramco
She cited unpublished information from Vietnam's Ministry of Natural Resources and Environment, which did not respond to requests for comment. In recent years, Japanese investors Toyota Tsusho and Sojitz abandoned projects at Dong Pao after China ramped up supply, pummelling prices. Reuters GraphicsStill, rare earths at Dong Pao are relatively easy to access and are mostly concentrated in bastnaesite ores, according to the Hanoi University of Mining and Geology. The plant has capacity to process 5,000 tons of REO a year but the company plans to treble that to accommodate input from Dong Pao, Tuan said. The metallization process is controlled by China, which produces 90% of rare-earth metals, according to the U.S. Department of Energy.
Persons: Dong Pao, Blackstone, VTRE, Tessa Kutscher, Anh Tuan, Joe Biden, Kutscher, Sojitz, Dylan Kelly, Vingroup, Rivian, Dong, Tuan, David Merriman, John Rockhold, Dudley Kingsnorth, Francesco Guarascio @fraguarascio, Khanh, Melanie Burton, Trevor Hunnicutt, Mai Nguyen, Phuong, David Crawshaw Organizations: REUTERS, Australia's Blackstone Minerals Ltd, Vietnam's Ministry of Natural Resources, Earth JSC, U.S, . Geological Survey, Reuters, Toyota, Terra Capital, Blackstone, Hanoi University of Mining, REO, White House, Department of Commerce, U.S . Chamber of Commerce, Strategic, ASM, Reuters Graphics Reuters, U.S . Department of Energy, Western Australian School of Mines, Curtin University, Thomson Locations: Nam, Lai Chau, Vietnam, Pao, HANOI, Dong, Beijing, China, Hanoi, U.S, Dong Pao, VTRE, South, Khanh Vu, Melbourne, Seoul, Washington, Phuong Nguyen
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQ4 Big Ideas: Katrina Dudley's makes the bull case for McGrath RentCorpKatrina Dudley, Investment Strategist at Franklin Mutual Advisers, discusses her best stock idea going into the fourth quarter.
Persons: Dudley's, McGrath, Katrina Dudley Organizations: Franklin Mutual Advisers
Dudley: Current market environment is tempered even-handedness
  + stars: | 2023-09-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDudley: Current market environment is tempered even-handednessKatrina Dudley, Investment Strategist at Franklin Mutual Advisers, discusses her top stock picks for the trading day ahead.
Persons: Katrina Dudley Organizations: Franklin Mutual Advisers
LONDON (AP) — Global energy giant BP, one of Britain’s biggest and most recognizable companies, is scurrying to find a new chief executive after CEO Bernard Looney became the latest corporate leader to step down amid questions about his personal conduct. BP conducted an internal review last year after receiving allegations about personal relationships between Looney and other company employees. “The company has strong values and the board expects everyone at the company to behave in accordance with those values,” BP said. Looney had spent his entire career at BP after joining the company as an engineer in 1991. Soon after becoming CEO, Looney set a goal of achieving net zero emissions by 2050 — in line with goals then adopted by the U.K. government.
Persons: Bernard Looney, Looney, Murray Auchincloss, , , Bob Dudley, Harvey Weinstein, Jess Staley, Jeffrey Epstein, Jeff Shell Organizations: , BP, London Stock Exchange, Greenpeace, Barclays, . Locations: Ukraine
US judge freezes New Mexico governor's gun ban
  + stars: | 2023-09-13 | by ( Andrew Hay | ) www.reuters.com   time to read: +3 min
Governor of New Mexico Michelle Lujan Grisham speaks at a Democratic Party of New Mexico campaign rally featuring U.S. President Joe Biden at the Gallegos Community Center in Albuquerque, New Mexico, U.S., November 3, 2022. Her order outraged gun-rights advocates and drew backlash from fellow Democrats and law enforcement officials who labeled it unconstitutional. "Governor Grisham's tyranny is temporarily in check today," said Dudley Brown, president of a Colorado gun group that sued the governor. In the days after the gun ban, Albuquerque's mayor and Bernalillo County's sheriff both called for a special session of the state's legislature to deal with gun crime. Around 500 people die by guns each year in New Mexico, which ranks sixth among U.S. states for gun deaths per capita, according to gun violence prevention group Everytown for Gun Safety.
Persons: New Mexico Michelle Lujan Grisham, Joe Biden, Kevin Lamarque, Michelle Lujan Grisham, David Urias, Urias, Lujan Grisham's, I've, Lujan Grisham, Grisham's, Dudley Brown, Gun, Bernalillo, Tim Keller, Keller, Andrew Hay, Nate Raymond, Jarrett Renshaw, Stephen Coates, Diane Craft Organizations: Democratic Party of New, U.S, Gallegos Community Center, REUTERS, Supreme, Democratic, Santa Fe's, Gun Safety, Thomson Locations: New Mexico, Democratic Party of New Mexico, Albuquerque , New Mexico, U.S, Mexico's, Albuquerque, Colorado, Santa
Looney's surprise resignation came after allegations of personal relationships with company colleagues surfaced recently, prompting the company to launch an investigation. That followed allegations the board investigated in May 2022 relating to personal relationships with company employees. During that review, Looney disclosed "a small number of historical relationships with colleagues prior to becoming CEO." Looney informed BP's board on Tuesday that he did not fully disclose details of all relationships, prompting his resignation. BP shares ended up 1% before the FT earlier reported his resignation after trading closed in London.
Persons: Bernard Looney, Amr Abdallah Dalsh, Murray Auchincloss, Looney, Looney's, BP's, Bob Dudley, Anirudh, Krishna Chandra Eluri, Marguerita Choy Organizations: BP, Egypt's, Petroleum, REUTERS, BP Auchincloss, Shell, Chevron, Exxon Mobil, Morningstar, Reuters, Thomson Locations: Cairo, Egypt, London, New York, COVID, Russia, Ukraine, Bengaluru, Shadia
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