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☆ U.S., Britain launch energy partnership to boost supplies
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Ints Kalnins/File PhotoLONDON, Dec 7 (Reuters) - The United States and Britain announced on Wednesday an energy partnership aimed at sustaining a higher level of liquefied natural gas (LNG) exports to Britain and collaborating on ways to increase energy efficiency. Britain and other European countries have turned to the United States as they try to reduce their reliance on Russian energy supplies following Moscow's invasion of Ukraine begun in February. "This partnership will bring down prices for British consumers and help end Europe's dependence on Russian energy," British Prime Minister Rishi Sunak said in a statement. The "UK-US Energy Security and Affordability Partnership" will also aim to drive investment in clean energy and exchange ideas on energy efficiency and reducing demand for gas. The G7 - which includes Britain and the United States - has agreed a $60 per barrel price cap on Russian seaborne crude oil.

☆ UK tries to shore up energy supply with US deal
▼ + stars: | 2022-12-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN Business —Britain has agreed a new energy partnership with the United States that aims to end its reliance on Russia and lower soaring energy costs. He said the aim was to double the amount of liquified natural gas (LNG) the United States exports to Britain compared to 2021 levels. The initiative with the United Kingdom comes nine months after the United States agreed a deal with the European Union to increase LNG shipments to Europe. According to the US Energy Information Administration, the United States became the world’s largest exporter of LNG in the first half of this year. Under the new partnership, the United States will aim to export “at least” 9-10 billion cubic meters of LNG via UK terminals.

☆ TSX closes below 20,000 mark as oil prices slide
▼ + stars: | 2022-12-06 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 252.09 points, or 1.25%, at 19,990.17, its lowest closing level since Nov. 21. All 10 of the TSX's major sectors lost ground, including a decline of 3.5% for the energy sector. That matched the decline for U.S. crude prices , which settled at $74.25 a barrel, as global demand concerns weighed. Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

☆ Toronto stocks slip to near 1-week lows on rate worries
▼ + stars: | 2022-12-06 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1532 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 90.22 points, or 0.45 percent, at 20,152.04. "This news would be received well by investors as higher interest rates have been a major source of anxiety this year," said Brandon Michael, senior analyst at ABC Funds. Among single stocks, Cenovus Energy Inc (CVE.TO) gained 2.0% after the energy company forecast higher capital expenditure for 2023. Reporting by Shashwat Chauhan in Bengaluru Editing by Vinay Dwivedi and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ TSX futures edge up as gold shines, BoC meet in focus
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies BoC rate decision due WednesdayTraders see a 71.5% chance of 25 bps hikeDec 06 (Reuters) - Futures for Canada's resources-heavy main stock index edged up on Tuesday as gold prices rose, while investors await the Bank of Canada's interest rate decision. Gold prices steadied on Tuesday after shedding more than 1% in the last session, helped by a weaker dollar. Commodity prices have a major impact on Toronto stocks, as materials and energy companies combined have a near 31% weight on the main index. The TSX, like its U.S. counterparts has rallied from October lows on hopes that the Federal Reserve and major central banks would dial down their aggressive approach on interest rates. The BoC will be one of the first major central banks to announce the interest rate decision in December, with announcements from the Fed and the European Central Bank to follow next week.

☆ Brad William Henke, ‘Orange Is the New Black’ actor, dead at 56
▼ + stars: | 2022-12-02 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Brad William Henke, a veteran character actor known for his work on “Orange Is the New Black” and other series, has died, according to his agent and manager. “Brad Henke was an incredibly kind man of joyous energy. Henke in a secene from "Orange is the New Black." Henke opened an acting studio in Los Angeles in 2000 where he helped to guide the careers of other actors. Henke is survived by his mother Tammy, his sister Annette, his wife Sonja, his stepson Aaden, his stepdaughter Leasa and his grandchild Amirah.

☆ Meet 12 Republican officials crusading against BlackRock and ESG investing
▼ + stars: | 2022-12-01 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +14 min

A group of vocal conservative officials are criticizing aspects of ESG investing. Players in the ESG ecosystem, like S&P Global and BlackRock, the world's largest money manager and an influential proponent of ESG investing, are often the subject of their critiques. Instead, officials often paint large financial firms' ESG strategies as functions of left-leaning agendas. Here are key GOP players who are taking aim at ESG investing. Abbott, who is seeking reelection in November, was early to denouncing ESG investing.

☆ "We're still early days in this downturn": A portfolio manager at Lazard reveals the 3 asset classes that will provide investors with the steadiest returns as recession fears mount — and shares 3 high
▼ + stars: | 2022-11-28 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

But in a year like 2022 when stocks are down, real assets can suddenly look a lot more attractive to investors. On the other hand, real estate has been a relatively weak performer this year due to its inverse correlation with interest rates. Year-to-date the Lazard Real Assets fund is beating 85% of its peers, down 5.7% versus its category average of a negative 12% return. "It's gone from a second-class in the real estate space to now an integral part of the supply chain," he explained. Finally, in the infrastructure space McGoey highlighted Targa Resources (TRGP) as a key midstream player.

[1/7] Herbs and micro-greens grown at the underground farm in a disused World War Two bunker using hydroponic technology and LED lighting, powered by renewable energy, are pictured in London, Britain November 24, 2022. REUTERS/Maja SmiejkowskaLONDON, Nov 28 (Reuters) - In an underground World War Two air raid shelter where London tube trains can be heard rattling overhead, aromatic coriander leaves tilt towards the pink glow of LED bulbs - a vision of how farms could look in the future. Zero Carbon Farms grows herbs and salads in Clapham, south London, a densely populated area with no room for conventional agriculture. But 30 metres below ground there is a kilometre of tunnels, and technology has made farming here a reality. "What makes this industry so exciting and challenging is that no one's quite cracked it," said Zero Carbon Farm's business development director Olivia O'Brien.

☆ Automakers need way more plug-in stations to make their EV plans work. That has sparked a buying frenzy as big charging players gobble up smaller ones.
▼ + stars: | 2022-11-24 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +4 min

EV charging has a newfound boost from government incentives and industry spending. The charging space has picked up momentum as automakers are pouring billions into EV development. Because of these struggles, not every company will make it — some smaller companies are betting that larger ones will gobble them up and take on their assets through mergers and acquisitions. "For the smaller companies, it's hard to scale up on their own. The auto industry's latest M&A frenzyGiven the long lead time on vehicle development, automakers have relied on consolidation to integrate expensive technology into their portfolios.

Enrico Letta said his centre-left Democratic Party would organise street protests on Dec. 17, while former Prime Minister Giuseppe Conte, leader of the left-leaning 5-Star Movement, called the cuts to the citizens' wage "inhuman." The budget allocates over 21 billion euros next year in tax breaks and bonuses to help firms and households pay electricity and gas bills. This comes on top of some 75 billion euros of similar measures approved this year. The curbs on the citizens' wage, which the rightist coalition says discourages people from seeking work, is particularly contentious. Meloni, who has always opposed the citizens' wage, insisted it was wrong "to put people who can work on the same level as those that can't."

☆ Italy's Meloni to unveil budget with 30 bln euros to lift economy
▼ + stars: | 2022-11-21 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +3 min

Expansionary measures total more than 30 billion euros ($30.8 billion), with Rome planning to fund around 70% of the package by driving up next year's budget deficit to 4.5% of gross domestic product (GDP) from 3.4% forecast in September. Some 3 billion euros will come from a windfall tax on profits of energy companies that have benefited from the surge in oil and gas prices, the officials said. Further potential sources of funding are a tax on home deliveries to help shopkeepers hit by Amazon (AMZN.O), and a cut to the nine billion euros previously earmarked in 2023 for Italy's "citizens' wage" poverty relief scheme. SLOWING ECONOMYMeloni will spend more than 21 billion euros next year to help firms and households pay electricity and gas bills, the officials said. One of the most contentious measures in the budget is an amnesty on tax arrears of up to 1,000 euros stemming from before 2016.

☆ Exclusive: Texas producer Ranger Oil explores sale
▼ + stars: | 2022-11-18 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Nov 18 (Reuters) - Ranger Oil Corp (ROCC.O) is exploring a potential sale as the south Texas oil and gas producer looks to capitalize on high energy prices to pursue strategic options, people familiar with the matter said on Friday. Shares in Ranger, which operates in the Eagle Ford shale basin, jumped over 5% on Friday after Reuters reported the company's sale efforts. Ranger Oil did not immediately respond to a request for comment. Ranger had gained around 58% this year, prior to news of its sale efforts. Last year, Penn Virginia Corp bought Lonestar Resources US Inc in an all-stock deal valued at $370 million, and later rebranded the combined company as Ranger Oil.

The move angered foreign governments and foreign-owned carmakers who say the change will disqualify a majority of their EV fleets from North American markets. "But it should not have negative side effects on their European allies and the European economy." South Korean President Yoon Suk-yeol also spoke to Biden about the issue during a bilateral meeting at the G20 summit, according to Yoon’s office. The Treasury is working to define the rules for some $278 billion worth of tax credits on EVs, solar and wind power investments and a range of other technologies. While a number of countries have said the U.S. tax credits likely violate World Trade Organization rules, none have sought to file a formal challenge.

☆ Nvidia's quarter fails to excite but offers enough hope that October's bottom can hold
▼ + stars: | 2022-11-16 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

That said, encouragingly, the team expects Gaming inventory levels to approach normal levels as we enter calendar year 2023. Fourth quarter guidance was underwhelming, but it was encouraging to hear management say they expect to see sequential growth in Data Center, Gaming, and Automotive. Segment Q3 sales Data Center revenue grew 31% to $3.83 billion, a tad short versus the $3.84 billion consensus. Gaming revenue fell 51% to $1.57 billion, but it was better than expectations of $1.33 billion. Capital Allocation In its fiscal third quarter, Nvidia returned a total of $3.75 billion to shareholders via dividends and buybacks.

☆ Crypto: What's next as FTX collapse triggers 'Lehman moment'?
▼ + stars: | 2022-11-11 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

And can the beaten-down crypto industry bounce back? What’s clear is that the fallout from the FTX crisis injects significant volatility into the crypto ecosystem. “Thank God!”Can the crypto industry survive? “In the short term, this is going to be really, really bad for the crypto industry,” said Jog of Sei Labs. Fok said he expects the FTX collapse will push institutional investors away from the crypto space just as they had been warming up to it.

☆ Nigeria offers concession on $1.3 billion China-funded hydro power plant
▼ + stars: | 2022-11-11 | by ( Camillus Eboh | ) www.reuters.com time to read: +1 min

ABUJA, Nov 11 (Reuters) - Nigeria plans to grant a concession on its $1.3 billion hydropower plant now under construction and is seeking bids from private investors to operate the China-funded plant, authorities said on Friday. The Zungeru Hydroelectric Power Plant (ZHPP), the biggest of its type in Nigeria, is expected to generate 700 megawatts and is being funded by loans from China's Exim Bank, the Bureau of Public Entreprises (BPE), Nigeria's privatisation agency, said. Diesel prices have soared in Nigeria since the start of the year as global oil prices surged after Russia's invasion of Ukraine. The privatisation agency said it expects bids to be submitted by Nov. 24 and hopes to complete the concession by March next year. The private partner will be responsible for repaying the Chinese loan, the privatisation agency told investors in an online roadshow on Thursday, because it wanted to reduce government's financing of the plant.

☆ Here's how to protect your portfolio from an inescapable energy crisis in 2023 caused by 'embarrassingly stupid' government policies, says a $200 million hedge fund manager who called the oil market's
▼ + stars: | 2022-11-08 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

The Department of Energy's "embarrassingly stupid" policies will likely cause a severe energy shortage and an energy crisis in 2023, Kupperman told Insider. I mean, US energy production has roughly been flat since the end of Q1 — six months where it's flat. Ironically, energy-friendly policies that lead to an increase in oil production would bring down prices and hurt his portfolio's performance in the process. This doesn't sound like the team of people — between his energy secretary and then Biden — that's going to restore energy production. "We're going to see a new level, so to speak, in terms of commodity prices," Kupperman said.

☆ Cramer's lightning round: Palantir is a sell
▼ + stars: | 2022-11-08 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...ChargePoint Holdings Inc : "I'm not recommending any stocks that are losing money. I can't lose money for people." Loading chart...Cenovus Energy Inc : "I like Cenovus. I wish it gave you a bigger yield, but it's got great assets." Loading chart...Loading chart...Alibaba Group Holding Ltd : "We have enough problems with American stocks; we do not recommend stocks of China."

☆ How to use the 'triangle method' to catch a lying coworker or boss — and the best way to call them out
▼ + stars: | 2022-11-07 | by ( Amanda Breen | ) www.businessinsider.com time to read: +8 min

First, it's important to pay attention to how people say what they're saying. "That's a telltale sign of indecision, and possibly lying," Donaldson said. "They're sitting on a couch or chair and they're speaking with you, then all of a sudden they're moving around," Donaldson said. What do you do if you think someone's lying to you? Donaldson suggested asking the person follow-up questions — and repeat questions — because if they're lying, it might be difficult to maintain consistency with their answers.

☆ Climate change is the biggest issue facing our planet. A public-private partnership is helping address it with zero-carbon tech.
▼ + stars: | 2022-11-07 | by ( Sponsor Post | Created Vertiv With Insider Studios | ) www.businessinsider.com time to read: +6 min

So, how can data centers provide more computing power while reducing their carbon footprint? "The RISE partnership will help us see the bigger picture of sustainability," he said. "We are creating greenhouses and vertical farming to reuse the heat and analyzing the data from medium-sized data centers." Other areas for improvement in data centers' environmental performance include making hardware and software more energy efficient, said Tor. Vertiv and RISE are also members of the E2P2 Tech Consortium, leading low-carbon fuel cell development to power data centers.

☆ Canada's share buyback tax could backfire, energy sector warns
▼ + stars: | 2022-11-06 | by ( Rod Nickel | Nia Williams | ) www.reuters.com time to read: +4 min

FILE PHOTO: The processing facility at the Suncor oil sands operations near Fort McMurray, Alberta, September 17, 2014. On Thursday, the Liberal government proposed a 2% tax on buybacks to encourage companies to reinvest in their workers and business. The tax will generate an estimated C$2.1 billion ($1.6 billion) over five years and take effect on Jan. 1, 2024. Canada’s four largest producers - Canadian Natural Resources Ltd, Cenovus Energy, Suncor Energy and Imperial Oil - spent C$15.8 billion combined on buybacks in 2022’s first three quarters, according to Tudor Pickering Holt (TPH). The tax may not deter oil companies’ buyback intentions anyway, said Eight Capital analyst Phil Skolnick, who covers the sector.

☆ Elite New York restauranteur Will Guidara on why luxury spending isn't the key to making people happy
▼ + stars: | 2022-11-05 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +4 min

Will Guidara, former owner of elite New York City restaurant Eleven Madison Park, thought his soon-to-be wife would love the Cartier necklace he bought her for their one-year anniversary. Guidara was surprised to see that his wife appreciated this gift far more than the thousands of dollars he spent on the necklace. The lesson, according to Guidare: The weight that money holds is incomparable to the weight that time holds to humans. Mal Fairclough | Afp | Getty ImagesUnder the Make it Nice hospitality group, the two went on to open NoMad New York, Nomad Bar, Made Nice, NoMad Los Angeles and NoMad Las Vegas. One night, Guidara recalled, he saw the kids of a family from Spain mesmerized by the snow falling outside his restaurant.

☆ The market could be anticipating a Republican sweep of Congress in Tuesday’s election
▼ + stars: | 2022-11-05 | by ( Patti Domm | In | ) www.cnbc.com time to read: +2 min

The Strategas Republican portfolio contains a number of energy companies including Cheniere, Centrus Energy , Enterprise Products and ConocoPhillips. The Republican portfolio contains Regeneron , up 7.5% since the end of September, and Bristol-Myers Squibb, up 10.8% in that same period. Clifton said the Republican portfolio bottomed out around Sept. 7, and in October it pulled ahead. "There's more confidence the Republican House gains are going to be quite large," he said. "If the consensus is wrong and the Democrats keep the Senate, the sector that will have the most upside is the clean energy sector," he said.

Blackstone Credit is working with an investment bank to explore options for PRI Operating at a time when commodity prices continue to trade at elevated levels after touching multi-year highs earlier in 2022. The sources cautioned a sale of PRI Operating was not guaranteed and the value Blackstone Credit might secure was difficult to estimate given how volatility in commodity prices influences asset valuations. PRI Operating did not respond to comment requests. Founded in 2017, PRI Operating is backed by Blackstone Credit and management. In July, Reuters reported Blackstone Credit and Apollo Global Management were marketing for sale Canadian oil and gas producer Ridgeback Resources.

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