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☆ Goldman Sachs just refreshed its conviction lists of global stocks — giving one 67% upside
▼ + stars: | 2024-05-06 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Goldman Sachs just refreshed its lists of top global stock picks, adding some and removing others. The investment bank's "Conviction List - Directors' Cut" aims to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. The stocks are selected by a subcommittee designated by the bank's Investment Review Committee for each region. Here are three of the latest additions to Goldman's directors' cut lists — for Asia-Pacific and Europe — that were given more than 30% upside potential in the next 12 months. Goldman has a target price of 11,850 British pence ($148.71) on the stock, giving it around 30.7% upside potential.

Persons: Goldman Sachs, Goldman, London Stock Exchange Goldman, Oliver Carruthers, Samsung Biologics Goldman, Ziyi Chen, Michele Della Vigna, — CNBC's Michael Bloom Organizations: bank's Investment, London Stock Exchange, Microsoft, Samsung, Korean, EU's Renewable Energy, . Locations: Asia, Pacific, Europe, Korean

☆ Your next plane ride could be powered by used cooking oil. Here's how a refinery in Singapore is already helping to make it happen.
▼ + stars: | 2024-02-02 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Sustainable aviation fuel is an alternative to fossil-based jet fuel made from refining used cooking oil and waste animal fats. Further expansion efforts happening at Neste's renewable refinery in The Netherlands are anticipated to boost capacity to a whopping 2.2 million tons by 2026. The results indicated the company's readiness to incorporate renewable fuel into its fuel mix. The Association of Asia-Pacific Airlines (AAPA), comprising 14 member airlines, including Singapore Airlines, pledged to use up to 5% SAF by 2030. In 2024, Singapore plans to launch the Singapore Sustainable Hub Blueprint, aiming to bolster the market for SAF.

Persons: Kris LeBoutillier, he's, Sami Jauhiainen, Jauhiainen, Neste Organizations: SAF, Virgin, Neste, Aviation, Renewable Aviation, Research, ASTM, Jauhiainen, Innovation, Singapore Airlines, United Airlines, Air France, KLM, All Nippon Airways, The Association of Asia, Pacific Airlines, Insider Studios, Singapore Economic Development Board Locations: Finland, Singapore, Asia, London, New York City, Emirates, Tuas, Buffalo, Netherlands, Changi, Neste

☆ Why Singapore is so attractive to business leaders looking to make a real difference in their careers, lives, and the world
▼ + stars: | 2024-01-19 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

This article is part of our "Business for Good" series spotlighting business leaders and companies that are driving meaningful changes from Singapore. Currently based in Singapore, he's serving as our trusted resource for the innovative projects unfolding in one of the world's most advanced and progressive business hubs. The city-state's government is nimble and efficient; the business atmosphere is open and collegial; and the quality of life is unparalleled. NesteSingapore is considered a global business hub thanks to its great sea and air connectivity, developed infrastructure, stable political and regulatory environment, and skilled workforce. Bartholomeusz shares my appreciation for Singapore's public safety.

Persons: Kris LeBoutillier, he's, It's, Steven Bartholomeusz, APAC, it's, José Pedro Borges, Borges, Maya Hari, — Hari, Hari, Terrascope Organizations: EDP Renewables, APAC, Cisco, Google, Microsoft, José Pedro Borges Companies, Insider Studios, Singapore Economic Development Board Locations: Singapore, Asia, Thailand, Indonesia, New York City, Neste, Neste Singapore, Lisbon, EDPR

☆ Oil heads for weekly loss as geopolitical risk premium wanes
▼ + stars: | 2023-11-03 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +3 min

Both benchmarks gained more than $2 a barrel on Thursday, but were on track to lose about 4% on the week. The report could bolster the view that the U.S. Federal Reserve need not raise interest rates further. The Fed held interest rates steady on Wednesday, while the Bank of England held rates at a 15-year peak. The stable policies kept oil prices supported as some risk appetite returned to markets. "The oil market will be watching for an escalation of tensions, particularly on the Lebanese border, as Hezbollah attacks increase," City Index Fiona Cincotta said.

Persons: Jussi Rosendahl, Brent, Fiona Cincotta, Sayyed Hassan Nasrallah, Israel, Jeslyn Lerh, Mark Potter Organizations: REUTERS, U.S, West Texas, National Bureau, Statistics, U.S . Labor Department, U.S . Federal, Fed, Bank of, Palestinian, Thomson Locations: Porvoo, Finland, China, Bank of England, Gaza, Lebanese, Saudi Arabia, Singapore

☆ Europe’s oil majors are stuck as M&A party-poopers
▼ + stars: | 2023-10-26 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

Oil pump jack is seen in front of displayed U.S. dollar banknote and decreasing stock graph in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Oct 26 (Reuters Breakingviews) - Back in June the boss of $220 billion UK oil major Shell (SHEL.L), Wael Sawan, told investors mergers and acquisitions were not his priority. The decision of $430 billion Exxon Mobil (XOM.N) and $295 billion Chevron (CVX.N) to acquire $60 billion Pioneer Natural Resources (PXD.N) and $53 billion Hess (HES.N) respectively ought to change the game. But it would remain a stretch for either to ape their U.S. peers and buy a big oil group. Hess investors will receive 1.025 shares of Chevron for each share held, worth $171 per share based on the closing price on Oct. 20.

Persons: Dado Ruvic, Wael Sawan, Hess, Murray Auchincloss, Patrick Pouyanné, ’, Shell, Neste, Warren Buffett’s, Pouyanné, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Exxon Mobil, Chevron, Natural Resources, Exxon, Shell, Occidental Petroleum, Exxon Mobil’s, Thomson Locations: Finnish, Denmark, U.S, Occidental

☆ Goldman Sachs names 6 global stocks to play the energy transition — giving one over 90% upside
▼ + stars: | 2023-10-02 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Goldman Sachs is bullish on the bioenergy sector, calling it the "largest source of renewable energy in the world." Specifically, the bank's analysts, led by Michele Della Vigna, foresee growth in the areas of renewable diesel, sustainable aviation fuel, and renewable natural gas. Stock picks Several global stocks are slated to benefit from this push toward sustainability and the transition to renewable energy, Goldman said. Among its top picks is Neste , which it describes as the "biggest renewable diesel and sustainable aviation fuel producer in the world." The company turns edible by-products and food waste into sustainable products and is the largest renewable diesel producer in North America.

Persons: Goldman Sachs, bioenergy, Michele Della Vigna, Goldman, —, — CNBC's Katrina Bishop Organizations: Renewable, Stock, ENI, U.S Locations: U.S, Italy, North America

The improvement has largely been driven by stronger demand for refined fuels across Asia as economies open up from the COVID-19 pandemic, with China's domestic demand leading the charge. Margins have also been helped by the ability of refiners to pass on higher prices for refined fuels quickly, while still processing crude bought months in advance at lower prices. It's also likely that the strong refining margins in Asia will attract refiners in China and India to maximise exports of fuels such as gasoline and diesel. The profit margins for refined fuels have risen in recent sessions largely because the price of crude oil has dropped more than the prices for refined fuels. Crude prices rallied from July onwards as OPEC+ tightened supply, especially with the producer group's leading exporter Saudi Arabia announcing an additional 1 million barrel per day cut to its production.

Persons: Caroline Chia, It's, Brent, Robert Birsel Organizations: REUTERS, Rights, Brent, Saudi, Reuters, Thomson Locations: Tuas, Singapore, Rights LAUNCESTON, Australia, Asia, Dubai, South Korea, Vietnam, China, India, Refinitiv, Saudi Arabia, OPEC

☆ New BT boss’s biggest test is investor relations
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 31 (Reuters Breakingviews) - BT’s (BT.L) board faced the challenge of hiring a new CEO willing to implement a turnaround strategy decided by their predecessor. It has solved that problem by appointing one of its own members, Allison Kirkby, to the post vacated by outgoing Philip Jansen. Shares in the Swedish telco sank 4% on news of her departure, suggesting Telia’s loss is a gain for BT. Kirkby won’t take over until January 2024 but, having sat on BT’s board for more than four years, she should be able to hit the road running. Keeping these two investors on her side will be the real test for Kirkby at BT.

Persons: Allison Kirkby, Philip Jansen ., Swedish telco, Kirkby won’t, Patrick Drahi’s, Jansen, Pierre Briançon, Liam Proud, Oliver Taslic Organizations: Reuters, Telia Company, BT, Kirkby, Deutsche Telekom, Twitter, Soaring, of Japan, Thomson Locations: Swedish, Kirkby

☆ Walmart focuses India’s retail valuation debate
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, July 31 (Reuters Breakingviews) - Walmart (WMT.N) is bumping up its stake in Flipkart, India’s e-commerce giant, at a handsome valuation. The U.S. retailer is buying shares from Tiger Global for $1.4 billion, according to the Wall Street Journal. It’s a good deal for the seller as investors assess India’s hottest retail businesses. Reliance Industries’ (RELI.NS) retail unit might come sooner; analysts peg its valuation anywhere between $57 billion and $131 billion. How the market finally values India’s consumer will be closely watched.

Persons: India’s, Japan’s SoftBank, Robyn Mak, Pranav Kiran Organizations: Reuters, Walmart, Tiger Global, Wall Street, Reliance Industries, Twitter, BT boss’s, of Japan, Thomson Locations: MUMBAI, Flipkart, U.S, Una

☆ Soaring StanChart still has lots of work to do
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, July 28 (Reuters Breakingviews) - Bill Winters’ bank is finally getting its act together – to an extent. London-listed Standard Chartered (STAN.L) on Friday reported its highest first-half revenue and earnings since Winters joined as CEO in 2015. The upgraded 12%-14% top-line growth for this year, from 10% previously, caught investors' eyes, as did a chunky $1 billion share buyback programme. Winters managed to get costs down to 61% of revenue in the first half, close to his 2024 target of around 60%. Even after Friday’s bump, StanChart trades at just two-thirds of 12-month forward tangible book value, using analyst estimates gathered by Refinitiv Datastream.

Persons: Bill Winters, Winters, It’s, Refinitiv Datastream, Liam Proud, Streisand Neto Organizations: Reuters, “, HSBC, DBS, Twitter, Bank of Japan, Thomson Locations: SINGAPORE, London

☆ Bank of Japan has its cake and eats it
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

Governor Kazuo Ueda on Friday shocked global markets by pledging more flexibility in the Bank of Japan’s (8301.T) yield curve control scheme, its mechanism for controlling long-term interest rates. The central bank said its previous rigid target of keeping yields on 10-year sovereign bonds in a range of 0.5% to minus 0.5% was now just a “reference”. And it promised to buy 10-year bonds at 1%, which Ueda defined as a “just-in-case” cap. Traders immediately breached the officially unchanged range; the yield on 10-year government bonds hit a 9-year high of 0.575%. Instead, the bank may have found a way to make it more sustainable.

Persons: Kazuo Ueda, Ueda, Francesco Guerrera, Oliver Taslic Organizations: Reuters, Bank of Japan’s, Traders, Global, Twitter, Consumers, Thomson Locations: MUMBAI, Japan, Una

☆ Neste's output snafu dents net-zero aviation goals
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

Neste’s production woes are a big headache for Chief Executive Matti Lehmus but also for the aviation sector. That includes up to 1 million tons of sustainable aviation fuel (SAF), which is key to make planes greener as it cuts carbon emissions by up to 80%. Neste is now predicting that it will produce 230,000 tons less of renewable diesel and sustainable aviation fuel in the second half of 2023. Neste's production problems will further complicate the aviation race to net zero. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Matti Lehmus, Pamela Barbaglia, Lisa Jucca, Streisand Neto Organizations: Reuters, Twitter, Thales, Thomson Locations: Singapore, Neste

☆ Consumers will win in cannabis-credit card clash
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

The $376 billion payments network wants its financial partners in transactions for cannabis to crack down on using its debit cards, Bloomberg reported on July 26. The budding industry is running out of convenient options for customers to pay for its products. By definition, payments networks such as Mastercard and Visa (V.N) are middlemen, facilitating the movement of money between parties. In the weed business, that means they take the money from the buyer’s bank account and ship it into the dispensary’s. In Washington, D.C., some cannabis shops peddle quasi-worthless knickknacks such as stickers to customers while “gifting” small amounts of pot.

Persons: workarounds, Mastercard’s, Anita Ramaswamy, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Mastercard, Bloomberg, Visa, D.C, Twitter, Thomson Locations: Washington

☆ Sustainable Aviation Fuel Leader Talks Green Premiums and Impact of Tax Incentives
▼ + stars: | 2023-07-19 | by ( Dieter Holger | ) www.wsj.com time to read: +11 min

Many airlines, corporate fliers and governments see so-called sustainable aviation fuel, or SAF, as a way to reduce aviation’s contribution to global warming. It recently converted an oil refinery in California and is expanding its refineries in Singapore and Rotterdam. We worked on a former fossil-fuel refinery and converted that into a renewable refinery. The carbon footprint of aviation can be affected today from today’s SAF technology. It will continue to incentivize current SAF production, but it will be difficult to be the impetus for future production.

Persons: P, Chris Cooper, We’ve, we’ve, Neste, Dieter Holger Organizations: Aviation, International Energy Agency, International Council, Clean Transportation, SAF, Sustainable, Neste’s U.S, Airlines, International Air Transport Association, Neste, Bloomberg New Energy Finance Summit, Dallas Fort Worth International Airport, DHL, Amazon, Marathon Petroleum, Sustainable Business, today’s SAF, Air, dieter.holger Locations: California, Singapore, Rotterdam, U.S, Neste U.S, San Francisco, Dallas, City, Oakland, Air Canada, Alaska, American, Delta, Los Angeles, San Jose, Washington, York, New York, New Jersey, . Oregon

☆ JPMorgan names 'cheap' global sectors set to outperform — here are some of its stock picks
▼ + stars: | 2023-07-07 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

JPMorgan listed a number of global sectors it says have cheap valuations and "overweight" ratings — referring to the industries it expects to outperform over the next six to 12 months. In a July 3 research note to investors, it picked European telecoms as a "cheap" sector that it is overweight on. In its European "value" basket, telecoms companies included Vodafone and Nokia , while its European "growth" basket included Dutch firm KPN . Energy stocks in JPMorgan's European value basket included Repsol and Siemens Energy , and it included Finnish oil refiner Neste and Norway-based Equinor in its European growth basket. Staples in its European value basket included British grocer Tesco and Swiss chocolate company Lindt & Spruengli .

Persons: Mislav Matejka, Nephew, — CNBC's Michael Bloom Organizations: JPMorgan, Vodafone, Nokia, Energy, Siemens Energy, Staples, Tesco, Banks, WPP, Diageo, GSK, Smith, Prudential, Standard Chartered Locations: Norway, Swiss

MEXICO CITY, July 5 (Reuters) - Mexican airline Viva Aerobus has signed a memorandum of understanding to purchase 90 Airbus A321neo aircraft, the carrier said on Wednesday, in a deal likely worth several billion dollars. The companies did not name a price for the aircraft, and Airbus no longer publishes catalog prices. The agreement brings Viva's order book up to 170 Airbus aircraft, the carrier said in a statement, all part of the A320 family. In April, Viva signed an agreement with SAF producer Neste (NESTE.HE) to purchase 1 million liters of the fuel. Viva said the aircraft order would drive both domestic and international growth plans, taking into account that Mexico is expected to recover a U.S. air safety rating in coming months.

Persons: Pratt, Whitney, Viva, Neste, Aeromexico, Volaris, Kylie Madry, Raul Cortes, Tim Hepher, Bill Berkrot Organizations: MEXICO CITY, Viva Aerobus, Airbus, Paris Airshow, Whitney, Pratt, SAF, U.S . Federal Aviation Administration, U.S, Allegiant, Thomson Locations: MEXICO, Mexico, U.S

☆ Private jets get a bad rap. Jetex is trying to make them greener
▼ + stars: | 2023-05-29 | by ( Rym Bendimerad | ) edition.cnn.com time to read: +7 min

Because they often travel shorter distances than commercial jets, private jets are generally less efficient, and their emissions per passenger are much higher. According to data from European non-profit Transport and Environment, private jets can be five to 14 times more polluting than commercial planes, and 50 times more polluting than trains. Yet the private aviation sector has seen considerable growth in recent years. EVTOL aircraft have a more limited range than private jets, and would be used for short flights around and between cities – which, in the future, could be an eco-friendlier option for the many celebrities who’ve been criticized for traveling short distances in their private jets. “We are seeing some really exciting innovations coming from private aviation,” said Dr. Kearns.

☆ Boeing launches data tool to chart path to net-zero emissions target
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, May 17 (Reuters) - Boeing Co (BA.N) said on Wednesday it is rolling out a data modeling tool aimed at helping airlines and policymakers determine the quickest, most efficient path to reducing aviation emissions to zero by 2050. Boeing unveiled a beta version of Cascade in July 2022 but it was not publicly available. The public launch of Cascade comes just days after U.S. Transportation Secretary Pete Buttigieg met with counterparts from Canada, the United Kingdom and Singapore at the Asia-Pacific Economic Cooperation forum to discuss investments in sustainable aviation fuel. On Tuesday, Reuters reported that European Union countries are set to finalize SAF targets for airports despite some pushback from airlines. “Our intent is to scale SAF and help it scale by first ... examining what has to change in an airplane to be 100% compatible with (SAF),” Raymond said.

We are just starting up our expansion here in Singapore," Lehmus said. Neste produces renewable fuels, mainly from waste and residues such as used cooking oil and animal fat from food industry waste. If it goes ahead, production of the renewable fuel could start in 2026 and be primarily used in its refinery’s processes, replacing fuel produced from fossil feedstocks, the company said. "Longer term, if the availability of green hydrogen can be scaled up, it offers then the possibility to also further convert green hydrogen into fuels or chemicals," added Lehmus. The production of synthetic fuels from green hydrogen and carbon dioxide hasn't been commercialised and is costly.

☆ Why Warren Buffett is so keen on Japan's versions of Berkshire Hathaway
▼ + stars: | 2023-05-05 | by ( Tim Hornyak | ) www.cnbc.com time to read: +9 min

But Warren Buffett added a spark in April when he visited Japan to announce that Berkshire Hathaway boosted its investment in Japanese trading houses to 7.4%. Buffett said the five — Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui, and Sumitomo Corp. — are comparable to Berkshire itself. Samurai roots for Buffett's Japanese stocks The five trading firms that Berkshire has invested in are the biggest of Japan's so-called sogo-shosha, or general trading companies. Today, Japan's trading companies derive most of their revenue from non-trade activities. Shosha: The Big Five Mitsubishi The largest of Japan's trading companies is Mitsubishi Corp. , set up in 1954.

Repsol says the plant, which transforms used cooking oil into so-called sustainable aviation fuel (SAF), has attracted plenty of customers. But it is concerned Europe's investment environment will complicate the industry's efforts to take off. "Europe needs to step up and throw its weight behind a domestic SAF industry to ensure it does not fall behind." That's a bit under 1% of global aviation fuel demand," said Jonathan Wood, Neste's vice-president of renewable aviation. "America's programme of both federal and state incentives for SAF production is the mark of global leadership on the net-zero transition," IAG told Reuters.

☆ Lots of interest in using sustainable aviation fuel in Asia, says renewable diesel firm
▼ + stars: | 2023-03-28 | 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 EmailLots of interest in using sustainable aviation fuel in Asia, says renewable diesel firmMatti Lehmus, president and CEO of Neste, cites Singapore, Japan, Malaysia and New Zealand as examples in the Asia-Pacific region.

☆ Our R&D center in Singapore will help us build our network in the region: Renewable diesel firm
▼ + stars: | 2023-03-28 | 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 EmailOur R&D center in Singapore will help us build our network in the region: Renewable diesel firmMatti Lehmus, Neste's president and CEO, tells CNBC's Christine Tan about the Finnish refiner's plans and the role its Asia-Pacific research and development center can play for the company.

☆ Neste CEO: Sustainable aviation fuel aids supply chain efficiency
▼ + stars: | 2023-03-24 | 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 EmailNeste CEO: Sustainable aviation fuel aids supply chain efficiencyMatti Lehmus, president and CEO at Neste, discusses how the company is helping to make the aviation industry more environmentally friendly.

☆ Sustainable Aviation Fuel No Quick Fix to Greening Air Travel
▼ + stars: | 2023-03-14 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Oscar the Grouch is United Airlines’ pitchman for a new advertising campaign touting the environmental benefits of jet fuel made from waste. It can cut emissions by up to 80% compared with conventional jet fuel, depending on the feedstock used. First, the sustainably derived fuel is typically two to four times as expensive as conventional jet fuel. Globally, jet fuel cost can be volatile but was around $2.76 a gallon as of March 3, according to the International Air Transport Association. Hydrogen’s energy density makes it more promising as a jet fuel.

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