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Oil dips on oversupply concerns, heads for weekly loss
  + stars: | 2024-11-15 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices edged down early on Friday as oversupply concerns and demand worries stemming from a stronger dollar outweighed a steep draw in U.S. fuel stocks. ​Distillate stockpiles, which include diesel and heating oil, also fell unexpectedly by 1.4 million barrels, the data showed. Signs of stronger demand supported oil prices, ANZ analyst Daniel Hynes said. The Paris-based agency raised its 2024 demand growth forecast by 60,000 barrels per day to 920,000 bpd, and left its 2025 oil demand growth forecast little changed at 990,000 bpd. Also pressuring oil prices, the dollar surged on Thursday to a one-year high and headed for a fifth-straight daily gain fueled by higher yields and Donald Trump's presidential election victory in the United States.
Persons: Brent, Daniel Hynes, group's, Donald Trump's Organizations: Brent, . West Texas, Energy Information Administration, EIA, ANZ, International Energy Agency, Organization of, Petroleum, greenback Locations: Russia, U.S, Paris, China, India, United States
Disney's CFO Hugh Johnston discussed Universal Studios' upcoming theme park, Epic Universe. Both Walt Disney World and Universal Orlando Resort are adding new attractions. AdvertisementEpic Universe's arrival in Central Florida might be good for its direct competitor, Walt Disney World. Disney's Chief Financial Officer Hugh Johnston discussed Universal Orlando Resort's upcoming theme park during Thursday's earnings call. When asked how Epic Universe's May 2025 debut could impact Walt Disney World, Johnston seemed optimistic.
Persons: Hugh Johnston, Johnston, , Walt, Arturo Holmes, Disney Dreamers Academy Dennis Speigel, NBCUniversal, Comcast NBCUniversal, Brian L, Roberts, Harry Potter, Berk, Josh D'Amaro, Indiana Jones, James Cameron's Organizations: Universal Studios, Disney, Walt Disney World, Universal Orlando, Service, Walt Disney, Cinderella's, Disney Dreamers Academy, Park, Inc, Comcast, Comcast Corporation, Universal Orlando Resort Universal, of, Nintendo, Magic, Central, Central Florida Tourism, Disney's Hollywood Studios Locations: Central Florida, Florida, Pueblo Esperanza
But if your device is filled with too much digital clutter, it could be affecting your mental health and productivity, experts say. But sometimes, the common behavior can tip over into a disorder that more researchers are trying to understand: digital hoarding. Here’s how to ease up on digital clutter and know when you might be displaying signs of a disorder, according to experts. “Digital clutter is just as stressful as actual clutter in our physical world,” she said. A digital hoarding disorder will be fueled by a persistent urge to save digital information, rather than a “preference” to store that is more flexible, he added.
Persons: , Susan Albers, , Albers, Emanuel Maidenberg, UCLA’s David, Maidenberg, Sanjaya Saxena, Saxena, ” Albers, decluttering, “ it’s Organizations: CNN, Cleveland Clinic, UCLA’s, UCLA’s David Geffen School of Medicine, UCLA, Behavioral Therapy Locations: Ohio, United States, Boston
New York CNN —Laura Helmuth is resigning as editor-in-chief of Scientific American magazine following an expletive-filled rant about Donald Trump voters. Posting on Bluesky, an X rival, Helmuth said Thursday that she’s “decided to leave Scientific American after an exciting 4.5 years as editor in chief” without mentioning her previous comments. In a series of now-deleted posts on the same platform, she called Trump voters the “meanest, dumbest, most bigoted” group and “fascists” following the former president’s reelection last week. Helmuth had apologized in a separate post, calling them “offensive and inappropriate” and that they don’t “reflect the position” of Scientific American. “We wish her well for the future.”At 179-years-old, Scientific American says it’s the “oldest continuously published magazine” in the United States and has published pieces from more than 200 Nobel winners.
Persons: Laura Helmuth, Donald Trump, Helmuth, she’s “, , , ” Helmuth, ” Kimberly Lau, Laura, ” Lau, Kamala Harris, Trump Organizations: New, New York CNN, Scientific, Trump, CNN Locations: New York, United States
Elon Musk has added Microsoft as a defendant to an amended lawsuit against OpenAI. The suit, which also adds Reid Hoffman as defendant, accuses Microsoft and OpenAI of forming a monopoly. AdvertisementThe suit describes Microsoft's partnership with OpenAI as a "de facto merger" and said, "Microsoft is now OpenAI, and OpenAI, Microsoft." The amended lawsuit is the latest escalation between longtime rivals Musk and Sam Altman, the CEO of OpenAI. Microsoft, OpenAI, and Hoffman didn't immediately respond to requests for comment from Business Insider, made outside normal working hours.
Persons: Elon Musk, Reid Hoffman, OpenAI, , Shivon Zilis, Zilis, Musk, Mustafa Suleyman, Sam Altman, cofounders Altman, Greg Brockman, SoftBank, Navneet Govil, Govil, BI's Hasan Chowdhury, Hoffman didn't, Hoffman Organizations: Microsoft, OpenAI, Service, Bloomberg, New York Times, OpenAI's San, Financial Times, Business Locations: Neuralink, Northern California, OpenAI's, OpenAI's San Francisco
Even with vaccine skeptic Robert F. Kennedy Jr. tapped to potentially lead the Department of Health and Human Services, CNBC's Jim Cramer said drug and junk food industries aren't necessarily headed for ruin. "Ultimately, if RFK dons jackboots and demands that we don't have vaccines or eat junk food, it probably won't matter," he said. At the same time, Cramer added, Kennedy has taken a hard stance against processed food. Many drug and processed food stocks have already shouldered heavy losses since Trump named Kennedy, including Eli Lilly , Bristol-Myers , Moderna , PepsiCo , J.M. Plus, he continued, drug and junk food stocks aren't particularly good investments during a rate-cutting cycle.
Persons: Robert F, Kennedy Jr, CNBC's Jim Cramer, Donald Trump, Kennedy, it's, Cramer, Kennedy's, Eli Lilly, Smucker, Mills, he's, Trump Organizations: Department of Health, Human Services, RFK, and Drug Administration, Centers for Disease Control, National Institutes of Health, HHS, Trump, Moderna, PepsiCo, J.M Locations: U.S, Bristol, Myers
At 58 years old, Tyson will fight Jake Paul, the 27-year-old YouTube-star-turned-boxer who wasn’t even born when Tyson’s career was in its prime. It’s Tyson’s first sanctioned professional match since 2005. Lewis largely controlled the fight, as the champion survived Tyson’s round one onslaught and controlled the pace with strong jabs. The loss accelerated the end of Tyson’s professional career. His final professional bout — until Friday’s against Paul — came against McBride in 2005.
Persons: Mike Tyson, Tyson, Jake Paul, wasn’t, It’s Tyson’s, Kevin McBride, He’s, Evander, Mike ”, , , MIKE TYSON, JAKE PAUL, beckons, Mike ’, Hector Mercedes, Trevor Berbick —, Muhammad Ali —, Mike, ” Tyson’s, Jim Jacobs, Trevor Berbick, Tony Tucker, Michael Spinks, Buster Douglas, Douglas, Tucker, Spinks, Robin Givens, Evander Holyfield, Holyfield Tyson, Holyfield, Jeff Haynes, Francois Botha, Orlin Norris, Lou Savarese, Lennox Lewis, Lewis, Clifford Etienne, Paul —, McBride, ” Tyson, Paul J, Richards, Phil Collins ’ “, Zach Galifianakis, Alan, Roy Jones Jr, outlanding Jones, Paul, Nate Robinson, Friday’s Tyson, , Timothy A, Clary Organizations: T, NETFLIX, Netflix, netflix, WBA, WBC, IBF, MGM, Getty, XIV, , Texas Department Locations: Arlington , Texas, Albany, N.Y, Tokyo, Nevada, California, Miami, Los Angeles
Elon Musk's Trump bump keeps growing
  + stars: | 2024-11-15 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +1 min
AdvertisementElon Musk's businesses are thriving from his relationship with Trump, boosting his net worth. Musk's AI startup xAI is raising $5 billion, while SpaceX plans a share tender offer, the FT reported. Elon Musk's businesses are booming and that appears to be at least in part the result of his deepening relationship to the now president-elect, Donald Trump. Musk's AI startup xAI is now raising $5 billion in funding, the Financial Times reported. Trump's granddaughter, Kai Trump, said Musk was "achieving uncle status" in an X post on Sunday.
Persons: Trump, Donald Trump, xAI, Musk, Kamala Harris, Vivek Ramaswamy, Ramaswamy, Kai Trump Organizations: Elon, SpaceX, Financial Times, Trump, of Government Locations: Tesla
CNN —Israel’s war conduct in Gaza “is consistent with the characteristics of genocide,” including mass civilian casualties and using starvation as a weapon, according to a new United Nations Special Committee report released Thursday. The UN committee added that Israeli officials have publicly supported policies to destroy “vital water, sanitation and food systems” in Gaza as well as prevent access to fuel. The UN Special Committee is composed of three UN member states, including Malaysia, Senegal and Sri Lanka. But the US view is a stark contrast with the bleak picture on the ground, where much of the aid that reaches Gaza is not being distributed. “We have not seen any aid, and no one has sent us food,” 63-year-old Palestinian Umm Muhammad Al-At’out told CNN this week.
Persons: CNN —, , Biden, Muhammad Al, At’out, ” CNN’s Jane Nix, Mick Krever Organizations: CNN, United Nations, International Court of Justice, Security Council, UN, Court of Justice, Hamas, Human Rights Watch, The State Department Locations: Gaza, Israel, South Africa, UN’s, Malaysia, Senegal, Sri Lanka
Hundreds of hotel workers at a casino near the Las Vegas Strip went on strike just before dawn Friday after a long and highly publicized fight for a new contract. The strike at Virgin Hotels Las Vegas marks the first open-ended strike in 22 years for the Culinary Workers Union, the largest labor union in Nevada, with about 60,000 members. Virgin hotel workers are walking out RIGHT NOW at Virgin Las Vegas for a fair contract! "Workers at Virgin Las Vegas deserve a first-class contract with fair wage increases, and they are organized and ready to strike for it." Culinary Union members last went on strike in 2002 for 10 days at the Golden Gate hotel-casino in downtown Las Vegas.
Persons: Ted Pappageorge, Pappageorge, Bethany Khan Organizations: Vegas, Virgin Hotels, Culinary Workers Union, Virgin, Virgin Las, Culinary Union, Workers Locations: Virgin Hotels Las Vegas, Nevada, Virgin Las Vegas, Vegas, Golden, Las Vegas
For the second time, Taylor defeated Serrano via a decision that left more fans questioning the scorecards than praising Taylor’s skills. “She kept head butting me, but we knew that from the very beginning from the first fight,” Serrano said in the ring. Serrano kept Taylor circling on her back foot through the first five rounds as the bout turned into a streetfight — exactly what Serrano wanted. Taylor won the initial bout two years ago by weathering a surge from Serrano in its middle stages. This time, Serrano left no room for Taylor to come back.
Persons: Katie Taylor, Amanda Serrano superfight, Taylor, Serrano, Jake Paul, Mike Tyson, , ” Serrano, Chantelle Cameron, Jordan Maldonado, Maldonado, Ariel Helwani, that’s, Erika Cruz, Christian Petersen Organizations: Netflix, T, Dallas Cowboys, Paul’s, WBA, Getty Locations: Arlington , Texas, Serrano
Postal workers across Canada went on strike starting on Friday over pay and working conditions, a work stoppage that is expected to severely disrupt deliveries ahead of the busy holiday period. The Canadian Union of Postal Workers, which represents about 55,000 people, said in a statement that it had begun the nationwide strike, which started at midnight, after a year of failed negotiations with Canada Post, the country’s main postal operator. The strike will shut down Canada Post’s operations, and no mail or parcels will be processed or delivered through the system, the company said in a statement. “A national strike of any length will impact service to Canadians well after the strike activity ends,” said Canada Post, which is owned by the Canadian government. Other courier services, which have been muscling in on Canada Post’s business in recent years, will continue running.
Persons: Organizations: Canadian Union of Postal Workers, Canada Post Locations: Canada,
The long-lost worm is Haplosyllis anthogorgicola, a species of bristle worm, or polychaete. But as Forreau was sorting her underwater photos of seahorses and corals, she made another unexpected discovery: The worms’ coral burrows were visible in the images. Perhaps, she thought, that might also be the case in other photos of pygmy seahorses. Images of pygmy seahorses taken by scuba divers were crawling with worm photobombs. Worms’ limbs, heads and tails poked out of coral burrows in the hundreds; the scientists even counted seven examples of worms crawling on seahorses’ bodies.
Persons: Huzio Utinomo, Chloé Fourreau, , , Karen Osborn, Osborn, Ai Takahata, ” Forreau, coauthors, Chloé, Forreau, ” Osborn, Mindy Weisberger Organizations: CNN, Kyoto University, Royal Society, Biological Sciences, University of, Smithsonian National Museum of, Royal Society B, Scientific Locations: Japan, Australia, Okinawa, Washington ,, Sukumo, Kochi, Worms, East Timor, Indonesia, Malaysia, New Caledonia, Papua New Guinea, Philippines, Taiwan
A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona. The binding contract — after a preliminary agreement announced in April — is the first major award to be completed under the $52.7 billion program created in 2022. In April, TSMC agreed to expand its planned investment by $25 billion to $65 billion and to add a third Arizona fab by 2030. TSMC also agreed to use its most advanced chip manufacturing technology called "A16" in Arizona.
Persons: Amber Wang, , Donald Trump, TSMC, naysayers, Gina Raimondo Organizations: Taiwan Semiconductor Manufacturing Company, Center, U.S . Commerce Department, Taiwan Semiconductor Manufacturing Locations: Hsinchu, AFP, Phoenix , Arizona, Arizona, United States
AdvertisementPresident-elect Donald Trump has long questioned the reality of the climate crisis, describing it as a "scam" and accusing policies to tackle the crisis of destroying US jobs. AdvertisementChina, as part of its "Belt and Road" initiative to grow its global influence, has provided developing countries with renewable energy technologies, including wind farms. AdvertisementThe US lags China as a clean tech economic power. There are also doubts over how much China is willing to take an international leadership role on climate issues. Assuming a leadership role would likely require China to send money to other countries, said Crowther.
Persons: Donald Trump, , Herbert Crowther, we're, Lily McElwee, Xi Jinping, Trump, Daniel Araya, Biden, Joe Biden's, Crowther, Xi Organizations: Service, Eurasia Group, Business, Biden, China Studies, Center for Strategic, International Studies, Trump, Getty, Brookings Institute, International Energy Agency, Reuters Locations: Paris, China, New York, Baku, Azerbaijan, Washington ,, Beijing, United States, Gansu Province, Washington , DC, Brazil
Pete Hegseth, host of Fox & Friends, at the National Council of Young Israel Gala in New York City. Police in California investigated Fox News host Pete Hegseth — who was picked this week by President-elect Donald Trump to be the next Defense Department secretary — in connection with an alleged sexual assault at a hotel in 2017, officials said. Hegseth, 44, was not charged after the probe that year by the Monterey Police Department. The spokesperson said the full police report on the alleged incident is exempt from public disclosure. Hegseth's attorney, Timothy Parlatore told CNBC, "The police department confirmed last night that it was fully investigated and he was cleared."
Persons: Pete Hegseth, Pete Hegseth —, Donald Trump, Hegseth, Timothy Parlatore, Parlatore Organizations: Fox & Friends, National Council of Young Israel, New York City . Police, Fox News, Defense Department, Monterey Police Department, NBC News, Hyatt Regency Monterey, National Federation of Republican Women, CNBC Locations: New York City, California, Monterey, Hyatt Regency Monterey Hotel, Spa
At 50, Jennie Young started using several dating apps and felt that they were all toxic. The Burned Haystack Dating Method began as an academic project and now has a Facebook group with over 128,000 members. In February 2023, she started a Facebook group for the Burned Haystack Dating Method. Articles from 2024 alone included: "It's Not You: Dating Apps are Getting Worse" in The New York Times; "America is Sick of Swiping: Dating Apps are Falling Back to Earth" in The Atlantic; and "Why Gen Z is Ditching Dating Apps" in Time. The project evolved into a new dating method that I named the Burned Haystack Dating Method.
Persons: Jennie Young, Young, , I'm, I've, swiped, swipes, it's, Albert Fox Cahn, Cahn, respresentive, Bumble Organizations: Service, University of Wisconsin, The New York Times, Facebook, Match Group, Match Locations: Green, The
Musk reposted on Wednesday a list of cuts from Sen. Rand Paul, a longtime critic of the federal budget. Elon Musk is on the hunt for federal spending to cut — and a Republican senator's list caught his eye. A prior report highlighted $50 million of US funding for Tunisia's tourism industry, meant to help it increase visitor numbers through 2026. AdvertisementThe 2023 report outlined a USDA study on whether Labrador fur color affects their body temperature, while the 2022 report highlighted a Cornell University study on social communication between parrots. But Musk has emphasized his desire to do identify wasteful spending in public, culminating in a leaderboard of spending deemed wasteful.
Persons: Elon Musk, Donald Trump, Rand Paul, Sen, Rand Paul of Kentucky, crosshairs, Musk, Vivek Ramaswamy, Paul Organizations: of Government, DOGE, Republican, Department, Government, Musk's America PAC, America PAC, Department of Homeland Security, Department of Transportation, Cornell University, National Institutes of Health, NIH, National Institute of Allergy Locations: Sen, Esna, Egypt, Labrador, South Carolina
The Labubu and Pop Mart phenomenonLabubu dolls at the opening of a Pop Mart store in Bangkok. AdvertisementIn a statement to BI, a representative from Pop Mart said that Labubu has gained a strong global fan base. Advertisement"There's a bit of a 'FOMO' feeling," said Sim, 31, who owns around six Labubu toys. She has around 17 Labubu toys and said she spent over $10,000 on them. Once, she even camped outside a Pop Mart store for the latest drop.
Persons: , Grace Lee, Lee, , Joey Khong, Khong, Bangkok . Sun Weitong, Lung, it's restocked, Tony Lee, Mart doesn't, Taobao, Erin Liam, Lisa, Juda, Kanaprach, Gen Zers, They're, Labubu, It's, Sim Pei Yi, Sim, Ana Gonzales, she's, Gonzales, Tracy Hsu, Lisa —, Hsu Organizations: Service, Getty, Business, Pop, Pop Mart, Daxue Consulting, Southeast, Insight, Singapore, Mart Locations: Asia, Bangkok . Sun, Xinhua, Hong Kong, Beijing, Singapore, Pop, Southeast Asia, Japan, South Korea, China, Philippines, New Jersey, California, Canada
The conversation on Friday was the first time Scholz had spoken with Putin in two years. It comes as the German leader gears up for a snap election and Europe waits to hear US President-elect Donald Trump’s plan for ending the war in Ukraine. “He stressed Germany’s unbroken determination to back Ukraine in its defense against Russian aggression for as long as necessary,” the spokesperson added. Ukraine said however that phone conversations with Putin brought no added value on the path to achieving a “just peace” in Ukraine. But of course, (it is a) question about how Russia spins it.”Scholz to brief alliesThe Kremlin said Putin had told Scholz Russia was willing to look at energy deals if Germany was interested.
Persons: Volodymyr Zelensky, Vladimir Putin, Putin, ” Zelensky, Chancellor Olaf Scholz’s, Scholz, Donald Trump’s, Zelensky, , , Trump, ” Scholz, Scholz Russia Organizations: Berlin Reuters, Kremlin, Reuters, Scholz’s Social, Ukraine, Kyiv, European Union, NATO, Ukrainian Locations: Ukraine, Kyiv, Russia, Berlin, Germany, Baltic, North Korea, Russia’s, Kursk, United States
Spirit Airlines is preparing to file for bankruptcy protection, The Wall Street Journal reported. AdvertisementFlying is likely to become more expensive for some passengers if Spirit Airlines falls into bankruptcy protection. The Journal reported in October that Spirit was weighing up bankruptcy. Frontier Airlines is based in Denver. "The domestic US air travel market does need some rationalization, and it is likely to start with Spirit Airlines," McNally said.
Persons: , Guy, Raymond James, Savanthi Syth, David Neeleman, Denver . Don Mammoser, Peter McNally, McNally Organizations: Airlines, Street Journal, Frontier, Service, Spirit Airlines, Street, Frontier Airlines, The, American Airlines, JetBlue, Equity, Big Locations: Charlotte, Los Angeles, Denver .
Burgers at McDonald's could soon involve fewer greenhouse gas emissions thanks to a new cattle feed. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. McDonald's is working with seed company Syngenta and Lopez Foods, one of McDonald's meat suppliers, to feed cattle Syngenta's Enogen corn, the companies said in a statement on Thursday. Related Video How McDonald's is using data and its loyalty program to make new promotions like the adult Happy MealThat easy digestibility could mean fewer greenhouse gases, which contribute to global warming. McDonald's global sales were down during the company's third quarter as many consumers saved money by eating at home.
Persons: chow, Syngenta, Lopez, Enogen, McDonald's, It's, McDonald's Kendra Levine Organizations: Service, Mac, Lopez Foods, Environmental Protection Agency, Sustainability, McDonald's Locations: McDonald's
President Joe Biden made student debt relief a focus of his administration. The mass forgiveness he promised on the campaign trail was struck down by the Supreme Court, and some of his other debt relief initiatives, like the Saving on a Valuable Education plan and his negotiated rulemaking plan, are currently tied up in court. But his administration has still managed to clear $166.5 billion in student loans, according to Department of Education data. Borrowers had an average of $38,207 of debt forgiven. "From day one of my administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity," Biden said in an October statement.
Persons: Joe Biden, Biden Organizations: Supreme, of Education, Biden
the answer for many older voters ages 50 and over was "no," according to a new post-election poll released by the AARP. Almost half — 47% — of voters ages 50 and over said they are "worse off now," the research found, while more than half — 55% — of swing voters in that age cohort said the same. Among voters 50 to 64, Trump won by seven points. With voters ages 65 and over, Vice President Kamala Harris won by two points. Interviews were conducted with 2,348 "likely voters" in targeted congressional districts following Election Day between Nov. 6 and 10.
Persons: Donald Trump, Trump, Kamala Harris, Fabrizio Ward, Bob Ward, Ward Organizations: AARP, Finance, Research, Republican Locations: Bethlehem , Pennsylvania
“Donald Trump’s bungling of public health policy during the Covid pandemic cost hundreds of thousands of lives. “FDA’s war on public health is about to end,” he said in a social media post. Pack your bags.”That warning followed comments Kennedy has made about ending National Institutes of Health research into infectious diseases, putting doctors in the field on edge. water systems to remove fluoride from public water. Kennedy’s messaging on food policy has resonated with some health experts in that field.
Persons: Donald Trump’s, Robert F, Kennedy Jr, Dr, Ashish Jha, , Carlos del Rio, Trump, ” Trump, “ Robert F, Kennedy, Jr, ” Robert Weissman, “ Donald Trump’s bungling, Michael Osterholm, , Osterholm, he’d, Ronald Reagan’s, he’s, ” Kennedy, Paul Offit, Jesse Watters, I’ve, Jason Schwartz, Edward Chen, it’s, I’m, Ashley Malin, ” Malin, Food Kennedy, Sanjay Gupta, Marion Nestle, Sen, Ron Johnson, Nestle, ” Nestle, CNN’s Carma Hassan, Nadia Kounang, Daniel Dale, Aaron Pellish Organizations: CNN, US Department of Health, Human, Brown University School of Public Health, Emory School of Medicine & Grady Health, Public Health, Health, HHS, Department of Health, Human Services, Public Citizen, Infectious Disease, University of Minnesota, US Centers for Disease Control, US Food and Drug, FDA, Pharma, of Health, Vaccine Education Center, Children’s Hospital of Philadelphia, CDC, Vaccines, Health Defense, Fox News, Yale School of Public Health, Trump White, U.S, American Dental Association, Environmental Protection Agency, MSNBC, Epidemiology, University of Florida’s College of Public Health, CNN Health Locations: Wisconsin
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