DIRS.INFO The most relevant business & tech news

☆ Warner Bros. Discovery strikes 10-year deal to broadcast the French Open in the U.S.
▼ + stars: | 2024-06-11 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

Warner Bros. The deal is set to make Warner Bros. Warner Bros. Discovery-owned Eurosport has been broadcasting the French Open to 55 countries outside the U.S. since 1989, according to a press release. Meanwhile, Warner Bros. With the hangover from the Hollywood writers' strike and cost-cutting measures across the industry, including at Warner Bros.

Persons: Spain's Rafael Nadal, Germany's Alexander Zverev, Philippe, Chatrier, Roland Garros, Roland, Garros, Luis Silberwasser, Comcast's, Venu, Disney's, NBCUniversal, — CNBC's Alex Sherman Organizations: Roland, Warner Bros, TNT Sports, Garros, French Tennis Federation, Discovery, Grand, Warner Bros ., Eurosport, TNT, TBS, Comcast's NBC, Tennis, Disney's ESPN, Fox, TruTV, National Hockey League, NASCAR, U.S, Soccer, College Football, ESPN, NBA, CNBC, Hollywood, Comcast Locations: Paris, U.S, NBCUniversal

☆ Oil prices extend rally on potential U.S. crude purchase for reserve
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: +2 min

An offshore oil platform is seen at sunset on February 9, 2024 near Huntington Beach, California. Oil prices rose on Tuesday, extending the previous day's rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar. Brent crude futures climbed 28 cents, or 0.3%, to $81.91 per barrel by 0038 GMT and U.S. West Texas Intermediate crude futures rose 31 cents, or 0.4%, to $78.05. "Since WTI is near its 200-day average, we expect oil prices to remain close to current levels for a while," he said. U.S. crude oil stockpiles were expected to have fallen while product inventories likely rose last week, a preliminary Reuters poll showed on Monday.

Persons: WTI, Hiroyuki Kikukawa, Jennifer Granholm, Goldman Sachs, Brent Organizations: Brent, . West Texas, . Federal Reserve, NS, Nissan Securities, Strategic Petroleum Reserve, Energy, Reuters, American Petroleum Institute, Energy Information Administration, U.S . Department of Energy, U.S . Energy Information Administration, International Energy Agency Locations: Huntington Beach , California, U.S, .

☆ From hiking to exploring arts and inspired cuisine, enrich your Hong Kong "bizcation" itinerary with these daytime activities between meetings
▼ + stars: | 2024-06-11 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Hong Kong is known as a global center of trade and finance, but the city has much more to offer. Here are some must-do daytime experiences to check out between meetings and conferences, transforming your time in Hong Kong from "work trip" to an enriching "bizcation." Sample daytime bizcation itinerary Grab a plastic stool at Shui Kee Coffee to try some of the city's best French toast and Hong Kong milk tea. Find inspiration in Hong Kong's colorful art sceneThere are dozens of museums sprinkled around Hong Kong, but M+ is arguably its most impressive. Hong Kong Tourism BoardIf you're looking for a quiet escape, hop on a ferry to Cheung Chau, a much-loved getaway for Hong Kongers.

Persons: Shui Kee Coffee, Qing, it's, It's, Yau Ma, HKwalls, Ling Lane, Chan Lane, Chung, you've, Wong Tai, Nan Lian Garden, Tai, Hing, Get, Cheung Chau, Hong Kongers, Yang Organizations: Shui, Kowloon Cultural, Hong, Hong Kong Palace Museum, . Hong Kong Tourism Board, Art, Hollywood, Lin, Hong Kong Tourism Board, Hing Kee, Michelin, Rosewood Hong, Insider Studios Locations: Hong Kong, Shui Kee, Kowloon, Victoria Harbour, Hong Kong Palace, Jordan, . Hong Kong, Sai Ying, Wong Tai Sin, Mo, Sheung Wan, Tai Sin, Hing Kee Shanghai, Cheung

☆ Biden and Trump both want to extend tax cuts for most Americans — but paying for it could be tricky
▼ + stars: | 2024-06-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Presumptive nominees President Joe Biden and former President Donald Trump have both pledged to extend expiring tax breaks for most Americans — but questions remain on how to pay for it. Trillions in tax breaks enacted by Trump via the Tax Cuts and Jobs Act of 2017, or TCJA, will expire after 2025 without action from Congress. Expiring individual provisions include lower federal income brackets, higher standard deductions, a more generous child tax credit and more. But the federal budget deficit will be a "huge sticking point" as the 2025 tax cliff approaches, said Erica York, senior economist and research manager with the Tax Foundation's Center for Federal Tax Policy. The cost of extending major parts of the TCJA has grown about 50% since initial estimates in 2018, according to the Committee for a Responsible Federal Budget.

Persons: Joe Biden, Donald Trump, Erica York Organizations: Trump, Tax, Center, Federal Tax, Finance, Congressional, Budget

☆ US-made Abrams tanks are fighting a dangerous new kind of war, but Ukrainians are building unusual armor to help them survive it
▼ + stars: | 2024-06-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

However, one Ukrainian company is building steel screens that can offer the tanks an extra layer of protection. For more than a year and a half, the company has been making protective steel screens for Kyiv's aging T-64 and T-72 tanks. Related VideoJust a few weeks ago, this operation expanded to the Abrams tanks, US-made armor designed and developed during the Cold War to fight the Soviet tank threat. An M1 Abrams tank with protective screens in May. The jury is still out for the Abrams tanks, as they were only recently given the added protection.

Persons: —, Abrams, Oleksandr Myronenko, Christian Carrillo, Metinvest, Myronenko, it's Organizations: Service, Abrams, Business, Metinvest, M1A1, US, Spc, Soviet, Bradley Fighting Locations: Ukraine, Ukrainian, Zaporizhzhia, Germany, Russia, Soviet

☆ Welcome to another summer of uncertainty in Hollywood
▼ + stars: | 2024-06-10 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +6 min

Entertainment industry professionals gathered at an IATSE, Teamsters Local 399 and Hollywood Basic Crafts rally in Encino in March. They are represented by Teamsters Local 399, with the drivers making up the largest portion of their membership. What is Hollywood Basic Crafts? Hollywood Basic Crafts and Teamsters Local 399 began June 10. IATSE, Teamsters Local 399 and Hollywood Basic Crafts’ respective contracts expire on July 31.

Persons: “ There’s, ” Lindsay Dougherty, “, ” Dougherty, Hollywood’s, IATSE, Dougherty, there’s Organizations: CNN, Teamsters, Hollywood Basic Crafts, Alliance, Television Producers, Crafts, IATSE, Hollywood Crafts, Entertainment, zz, International Brotherhood of Teamsters, of Transportation, wranglers, OPCMIA, Plasterers UA, International Alliance, Hollywood Locations: California, Encino, Hollywood, IBEW, IATSE

☆ Trump says he will eliminate taxes on workers' tips in a play for Nevada voters
▼ + stars: | 2024-06-10 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign event, in Las Vegas, Nevada, U.S. June 9, 2024. "Hotel workers and people that get tips, you're going to be very happy because when I get to office, we are going to not charge taxes on tips," Trump said at the Las Vegas rally. More than 1 in 4 private sector workers in Nevada are employed in the tip-heavy hospitality industry, according to up-to-date state figures. The Trump campaign later acknowledged that any policy eliminating taxes on tipped earnings would require congressional approval. Rather, Trump's campaign trail promise is a reflection of Nevada's status as a must-win state for both Democrats and Republicans.

Persons: Donald Trump, Trump, Rather, Stormy Daniels Organizations: Las, House Republicans, House, Democrats, Republicans, Trump Locations: Las Vegas , Nevada, U.S, Nevada, New York

There are more than 70 cases in which Tren de Aragua is mentioned in law enforcement documents or prosecutors’ complaints. Castro-Mata entered the country illegally last July, a member of Immigration and Customs Enforcement told CNN. The Venezuelan has tattoos associated with Tren de Aragua – which court documents for a suspected gang member in Georgia describe as five-pointed crowns, five-pointed stars and teardrops – the New York Police Department told CNN. A fellow police officer who refused to cooperate with the gang in his native Aragua state was shot 50 times, Boza says. They tied his body to a motorcycle and dragged it throughout the San Vicente neighborhood to demonstrate the power of the Tren de Aragua,” Boza said.

Persons: CNN —, Biden, “, Óscar Naranjo, Aragua, Yuri Cortez, Primeiro Comando, ” Britton Boyd, Jason Owens, Tren, ” Owens, Bernardo Raul Castro, Mata, Castro, teardrops, –, Allbert Herrera Machado, Vanesa Chourio, Diaz, Josmar Jesus Zambrano, Zambrano, Herrera Machado, Chourio, Álvaro, Boza, ” Boza, Florida Sen, Marco Rubio, Ana María Salazar, Joe Biden, ” CNN’s Jaide Timm, Garcia Organizations: CNN, Chicago . Local, Transnational Criminal Organization, ”, South, Colombian National Police, CNN Tren, ‘, Transparency Venezuela, Venezuelan, Bolivarian National Police, Gang, Getty, National Liberation Army, Villa del Rosario, Norte de Santander, US State Department, Police, Customs, Border Protection, FBI, Border Patrol, “, Enforcement, New York Police Department, Baton Rouge Sheriff’s Department, Tren, San, Florida, Republican Locations: South Florida, New York, Chicago ., Aragua, Venezuela, United States, Bolivia, Colombia, Chile, Peru, America, Carabobo, Tocorón, AFP, Venezuelan, Brazilian, South America, Tren, Villa, Norte, El Paso , Texas, Texas, Georgia, Queens . Castro, Louisiana , Texas, Virginia , New Jersey, Florida, ”, San Vicente, Central, Ecuador

☆ What’s next in the Hunter Biden trial
▼ + stars: | 2024-06-09 | by ( Holmes Lybrand | ) edition.cnn.com time to read: +3 min

CNN —As the second week of the federal gun trial against Hunter Biden begins Monday, the main question looming over the day’s proceedings is whether the defense will call the president’s son to testify, a gamble in almost any trial. Hallie Biden, the widow of Beau Biden who later dated his brother Hunter, told the jury she saw what she believed was drug residue in Hunter Biden’s truck, where she says she found the pistol days after others testified he bought the gun in October. Hunter Biden’s daughter Naomi Biden testified on Friday, saying he looked well in August 2018 and she was “hopeful” about her father’s recovery in October 2018. What’s nextBefore breaking early Friday afternoon, Lowell told Judge Maryellen Noreika that the defense had yet to decide whether Hunter Biden would testify — a decision they are set to announce Monday. If Biden does testify, prosecutors say they may put on a rebuttal case with more witnesses, which could extend the trial further into the week.

Persons: Hunter Biden, Abbe Lowell, Biden, Hallie Biden, Beau Biden, Hunter, Hunter Biden’s, Naomi Biden, Naomi, “, What’s, Lowell, Maryellen Noreika, —, There’s Organizations: CNN, Biden Locations: Delaware

☆ Hong Kong will reportedly stop halting stock markets during typhoons and severe weather
▼ + stars: | 2024-06-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

8 storm signal raised for Super Typhoon Saola in Hong Kong, China, on Sept. 1, 2023. Hong Kong will no longer shut down its stock market during severe weather conditions, according to a Bloomberg report citing people familiar with the matter. The Hong Kong exchange typically halts trading when a typhoon signal or a so-called "black rainstorm warning" is issued. The previous CEO of Hong Kong Exchanges and Clearing, Nicolas Aguzin, told CNBC in 2022 that the bourse was reviewing that protocol. The Hong Kong exchange is expected to announce the proposed framework in the next few weeks, according to the people who spoke to Bloomberg.

Persons: Nicolas Aguzin Organizations: Super, Bloomberg, Hong, Hong Kong Exchanges, CNBC, bourse Locations: Hong Kong, China

☆ Scientists finally think they know where the most dangerous part of this US earthquake zone is and it's bad news for Washington
▼ + stars: | 2024-06-07 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +6 min

Read previewHidden off the US Western shore, beneath the Pacific Ocean, is the Cascadia Subduction Zone. The results will help scientists assess earthquake and tsunami risk for this region, including one particularly vulnerable state: Washington. How the Cascadia Subduction Zone causes earthquakesIn the Cascadia Subduction Zone, the Juan de Fuca plate is slowly subducting under North America. The Cascadia Subduction Zone can produce even larger, more dangerous quakes. Additionally, understanding that Cascadia is broken up into segments is key to assessing earthquake hazard, Watt said.

Persons: —, Suzanne Carbotte, Bruce, Lamont, Carbotte, Juan de Fuca, Juan, Fuca, de Fuca, it's, Chris McGrath, Janet Watt, Watt Organizations: Service, Business, Columbia University, US, Survey Santa Cruz Locations: Cascadia, Washington, US West Coast, North America, America, Japan, Gaziantep, Turkey, Oregon, British Columbia

☆ It's never been easier to start a company, says Reddit cofounder Alexis Ohanian. Here are his top 4 tips.
▼ + stars: | 2024-06-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Ohanian is a cofounder at Angel City, a board member of Apecoin, and has made more than 220 investments, according to PitchBook data. AdvertisementIn a 2023 episode of MasterClass, Ohanian explained what it's like to be on the other side of the investment table and shared his top tips for startup founders. "That's not just doing the work — that's doing the right work." Ohanian suggested that early founders focus on shipping something, even if it's basic, and sharing that widely on social media. Ohanian recommended founders look outside their network when hiring and aggressively reach out to talent on platforms like X.

Persons: —, Alexis Ohanian, Steve Huffman, Condé Nast, Ohanian, It's, That's, that's, it's Organizations: Service, Business, Angel City

☆ Israel is renewing its ban on Al Jazeera under its controversial media law
▼ + stars: | 2024-06-06 | by ( Hadas Gold | ) edition.cnn.com time to read: +3 min

CNN —The Israeli government is seeking to extend its controversial ban on the Al Jazeera news network in the country, after a court upheld the ban but shortened it by 10 days. Al Jazeera condemned the move as a “dark day for democracy” that sets a concerning precedent for other international media outlets operating in Israel. On Tuesday, a Tel Aviv District Court ruled that the ban on Al Jazeera could stand but was to be shortened to 35 days, meaning it will expire on Sunday. Israel has claimed that Al Jazeera “harms Israeli security,” and has a “close connection” with Hamas, the militant group it is waging war against in Gaza. “Al Jazeera reporters harmed Israel’s security and incited against IDF soldiers.

Persons: Israel, Jazeera, Al Jazeera, Benjamin Netanyahu, Al, “ Al, ” Netanyahu, Walid Omary, Al Jazeera’s, ”, Weeks, Yitzhak Amit, It’s Organizations: CNN, Al, Qatari, Tel, Court, Israeli Ministry of Communications, Hamas, IDF, Reuters, Associated Press, Haaretz Locations: Al Jazeera, Israel, Tel Aviv, Gaza, “, “ Al Jazeera, Al, Al Jazeera’s Jerusalem, Jerusalem

☆ Office Building Losses Start to Pile Up, and More Pain Is Expected
▼ + stars: | 2024-06-06 | by ( Joe Rennison | Julie Creswell | ) www.nytimes.com time to read: +1 min

Four years on, hybrid work has become common, and the strain on property owners is intensifying. While the number of office buildings reaching critical stages of distress remains small, the figure has increased sharply this year. And investors, lawyers and bankers expect the pain to grow in the coming months because demand for office space remains weak and interest rates and other costs are higher than they have been in many years. The problems could be especially severe for older buildings with lots of vacant space and big loan repayments coming up. Empty and nearly empty office buildings also hurt restaurants and other businesses that served the companies and workers who occupied those spaces.

Locations: New York, San Francisco

☆ Starship lands in the ocean with its engines firing for the first time, bringing Elon Musk one step closer to Mars
▼ + stars: | 2024-06-06 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

Super Heavy landed in the Gulf of Mexico minutes after lift-off. A screengrab from SpaceX's livestream of the June 6, 2024 launch shows Starship sitting atop its Super Heavy booster on the launchpad. One of the engines on SpaceX's Super Heavy booster was not lit during its fourth launch. SpaceX reaches a major new milestone by landing its Super Heavy booster in the Gulf of Mexico. SpaceXOn its next flight, SpaceX might attempt to catch the Super Heavy booster with giant "chopsticks" on its Texas launch tower.

Persons: —, Elon Musk's, Musk, Starship Organizations: Service, Super, Business, SpaceX, Starship, Starship's, of, NASA Locations: Gulf, Mexico, SpaceX's, Texas, Gulf of Mexico, Boca Chica , Texas

☆ Microsoft’s AI deal under federal investigation
▼ + stars: | 2024-06-06 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Any investigations would focus on whether the companies have used their dominant positions in the AI industry to harm competition. Microsoft, Inflection and Google didn’t immediately respond to a request for comment; Nvidia and OpenAI declined to comment. For years, technology critics and regulators have worried that major tech companies may be monopolizing entire sectors of the economy. One way for tech giants to wield anticompetitive influence in the AI sector, critics say, is through exclusive partnerships with AI startups. Those types of deals, including Microsoft’s relationship with OpenAI, is the subject of an ongoing study by the FTC announced in January.

Persons: OpenAI, Inflection’s, Google didn’t Organizations: Washington CNN, Federal Trade Commission, FTC, Justice Department, Microsoft, Google, Nvidia, CNN, of Justice, ’, European Union, Apple, Meta Locations: United States

☆ NATO is making plans for surging US troops into Europe in case Russia invades
▼ + stars: | 2024-06-06 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNATO is busy setting up land corridors that US soldiers and military vehicles would use in the case of a Russian invasion of Europe, The Telegraph reported, citing unnamed officials. AdvertisementPlans are also being developed to move troops through ports in Sweden, Finland, and the Balkans, the outlet reported. AdvertisementLast year, NATO leaders agreed to keep 300,000 soldiers in a state of high readiness, The Telegraph reported. Last week, the Financial Times reported that NATO had less than 5% of the air defenses needed to protect Central and Eastern Europe, citing people familiar with NATO's defense plans.

Persons: —, Vaidotas Urbelis, Donald Tusk, Poland's, Alexander Sollfrank Organizations: Service, NATO, The Telegraph, Business, The, Telegraph, Financial Times, Command Locations: Europe, Netherlands, Greece, Italy, Turkey, Norway, Hungary, Ukraine, Bulgaria, Romania, Sweden, Finland, Balkans, Germany, Poland, Russia, Baltic States, Central, Eastern Europe

☆ Flying taxis are closer than ever to reality. The booming industry needs to overcome infrastructure hurdles.
▼ + stars: | 2024-06-06 | by ( Taylor Rains | ) www.businessinsider.com time to read: +9 min

One expert said eVTOLs fly at low altitudes and could create airspace and security challenges. The US's first electric vertical-takeoff and -landing aircraft are expected to fly commercial passengers as soon as 2025. It still needs further approvals to fly for airlines like United, but the latest certificate puts it one step closer. Archer's Midnight aircraft are typically shorter range, with the Midnight flying up to 100 miles on one charge. Joby plans to use the four urban vertiports as a citywide commercial eVTOL air link around Dubai.

Persons: eVTOLs, —, Archer, Bryan Bernhard, Bernhard, Archer's, Pete Syme, Henry Harteveldt, Joby, Rani Plaut, Harteveldt, Bernard, Archer Aviation's, Archer Aviation Bernhard Organizations: Infrastructure, Service, Royal Aeronautical Society, American Airlines, United Airlines, Virgin Atlantic Airways, US Air Force, JPMorgan, Newark Liberty International, O'Hare International, Archer, Midnight, Joby Aviation, FAA, NASA, Joby, Air, Delta Air Lines, Federal Aviation, Archer Aviation Locations: Manhattan, New Jersey, Chicago's, Henry, Dubai, Japan, New York City, San Francisco, Washington, London, Paris

☆ Why Friday’s jobs report could be one for the record books
▼ + stars: | 2024-06-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

CNN —The US job market showed a softer side in April when just 175,000 jobs were added, marking one of the weakest months in the past three years. It was also well shy of economists’ expectations (for 235,000 jobs added) and sharply lower than the 315,000 net gain for March. A separate report released Thursday showed that fewer job cuts were announced in May than both the month and year before. Foreign-born workers: In addition to high labor force participation rates among prime working age individuals, specifically prime working-age women, the US labor market is benefiting from a boom in immigrant workers. Some of these workforce moves typically come at the end of the school year, meaning the May jobs report and June report could show the effects.

Persons: It’s, we’ve, Elizabeth Crofoot, ”, aren’t, Crofoot, Dean Baker, that’s, Julia Pollak, “, ” Andrew Challenger, Ryan Sweet, CEPR’s Dean Baker Organizations: CNN, Bureau of Labor Statistics, Federal Reserve, BLS, Center for Economic, Policy Research, “ Employers, Department of Labor, Challenger, Secondary School Emergency, Oxford Economics Locations: State

☆ Chinese trade group seeks drone jammers for Russian buyers
▼ + stars: | 2024-06-05 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —A Chinese government trade body has sought drone detectors and jammers for apparent Russian buyers, adding to concerns that Beijing may be supplying dual-use technology to Moscow. They are known for being used by the Russian army during its 2022 invasion of Ukraine to identify drone activity. He told CNN by phone that it was removed because it was “improper.” CNN has also reached out to the Yunfu trade association for comment. Mastro said she is “not particularly surprised” that local Chinese governments would help Russian companies seek drone equipment. Last week, the US warned it could act against Chinese firms and financial institutions in response to Beijing’s alleged backing of Russian war efforts.

Persons: Vladimir Putin, Xi Jinping, Volodymyr Zelensky, “, ”, Oriana Skylar Mastro, Stanford University’s Freeman, Mastro, doesn’t, Antony Blinken, Washington Organizations: Hong Kong CNN, Guangdong Provincial Association, Promotion of, province’s Commerce Department, Assel Labs, 3MX, City’s Association, Promotion of International Trade, United, CNN, US, Stanford, Stanford University’s Freeman Spogli Institute for International Studies Locations: China, Hong Kong, Beijing, Moscow, Guangdong, Russia, Russian, Ukraine, United States, Singapore, “ Beijing

☆ Australia drops case against Elon Musk's social media platform X over church stabbing footage
▼ + stars: | 2024-06-05 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Australia on Wednesday announced it had dropped its legal battle against Elon Musk's X to have graphic footage of a church stabbing in Sydney removed from the social media platform. The dispute was widely seen as a test case for the Australian government's ability to enforce its online safety standards on the social media giants. Julie Inman-Grant, Commissioner of Australia's online safety regulator, said in a statement that after weighing "multiple considerations," she decided that discontinuing the proceedings would "likely achieve the most positive outcome for the online safety of all Australians, especially children." I stand by my investigators and the decisions eSafety made," Inman-Grant said, referencing Australia's independent regulator for online safety. Last month, the Musk-owned social media platform won a reprieve in Australia when a court refused to extend a temporary order blocking videos of a Sydney church stabbing globally.

Persons: Elon Musk, Tesla, Elon Musk's, Julie Inman, eSafety, Inman, Grant, Musk, Bishop Mar Mari Emmanuel, Australia's Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Wednesday, Grant, X's Global Government Affairs Locations: Beverly Hills , California, Australia, Sydney, Australian

☆ Oil market 'oversold'? Analysts and traders pin crude's price plunge on demand, trading strategies
▼ + stars: | 2024-06-05 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Oil prices defied the announcement of extended supply cuts from the OPEC+ alliance with brisk declines, with analysts and traders faulting certain trading strategies and the demand picture for the downturn. "I would say that what the market is going through currently is going into an oversold, technically oversold market that is pushing the prices down," he noted. The front-month Nymex WTI contract was at $73.28 per barrel, higher by 3 cents per barrel from the Tuesday settlement. While some blame the OPEC+ meeting for the drop, we believe other factors — such as the option market—have played a role," UBS strategist Giovanni Staunovo said in a Tuesday note to clients. Renewed inventory draws are needed to push oil prices higher, in our view."

Persons: Abdulaziz Almoqbel, CNBC's Dan Murphy, —, …, Almoqbel, Ice Brent, Giovanni Staunovo Organizations: Organization of, Petroleum, Ice, bbl, UBS Locations: Huntington Beach , California, OPEC, London

☆ Golden Age for Rich Renters: Deals Make It Better Than Buying a Home
▼ + stars: | 2024-06-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +10 min

The result is that class A units account for more than half the apartment market, compared with one-third in the early 2000s, according to Moody's Analytics. High-end apartments that offer amenities up the wazoo — and rent breaks, to boot — represent a tantalizing alternative to the for-sale market right now. But as with all good things, the golden age for America's wealthy renters must also come to an end. Nations told me she still hoped to buy a home one day. "I know how challenging it is to rent in Nashville, especially on your own," Nations told me.

Persons: Emily Nations, she's, Nicole Bachaud, Rich, Joel Sanders, Sanders, Doug Ressler, David Brasington, Ressler, they're, — Organizations: Trinity, cabana, Nations, Analytics, University of Cincinnati, Census Locations: Nashville, downtown, Nations, New York, Salt Lake City, Atlanta, America, Houston, Austin, Phoenix, Charlotte, North Carolina, Raleigh , North Carolina, Tampa , Florida

☆ Drinking alcohol before napping on flights presents health risk, study finds
▼ + stars: | 2024-06-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

A popular pastime on long-haul flights — drinking alcohol before dozing off to sleep — may present health risks even to young and healthy passengers, according to a new study. The combination of alcohol consumption, sleep and the low oxygen concentration at high altitudes was found to challenge the cardiovascular system and extend the duration of hypoxaemia, or low levels of oxygen in the blood. Inflight sleep already exacerbates the fall in blood oxygen saturation caused by the reduced atmospheric pressure in aircraft cabins, the study states. Under the added effect of alcohol consumption, lab tests showed that participants' blood oxygen saturation decreased further, their heart rate increased and deep sleep was reduced. Even "young and healthy participants" suffered from "clinically relevant" desaturations and heart rate accelerations during sleep, the study found.

Persons: Eva, Maria Elmenhorst Organizations: German Aerospace Center's Institute of Aerospace Medicine, Aachen University, NBC News

☆ Oil prices extend losses on worries of supply rising later in 2024
▼ + stars: | 2024-06-04 | by ( ) www.cnbc.com time to read: +1 min

Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors worried about supply ticking up later in the year. Brent closed below $80 for the first time since Feb. 7, after falling more than 3% on Monday. Signs of weakening demand growth have also weighed on oil prices in recent months, with data on U.S. fuel consumption in focus. The U.S. government will release inventory and product supplied data on Wednesday. Product supplied, considered a proxy for demand, will show how much gasoline was consumed around the Memorial Day weekend, the start to the U.S. driving season.

Persons: Brent, Walt Chancellor Organizations: Brent, . West Texas, of, Petroleum, Sunday, Macquarie Locations: ., Russia, OPEC, United States, U.S

Search resuls for: "Extend"

25 mentions found