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The auction could start a new chapter for the 113-year-old company, which has been owned by Venezuela for almost 40 years. Washington and Venezuela's political opposition wanted Citgo to anchor the country's economic future under a democratically elected government. The sale could become the biggest court auction ever held. Motiva, Valero and Citgo's ultimate parent, Venezuela's state oil company PDVSA, did not reply to requests for comment. "Citgo will be strategic for Venezuela in the next 20-25 years, not only as a refining company, but with an expanded role," director Medina said.

Persons: Biden, Citgo, Nicolas Maduro's, Matthew Blair, Tudor, Blair, Jose Ignacio Hernandez, Leonard Stark, PDVSA, PDV, Juan Guaido, Natalie Shkolnik, Wilk Auslander, Nicolas Maduro, Stark, Evercore, Conoco, Horacio Medina, Carlos Jorda, Medina, Hernandez, Marianna Parraga, Erwin Seba, Gary McWilliams, Anna Driver Organizations: U.S . State Department, Reuters, Marathon Petroleum, Motiva Enterprises, Valero Energy, Koch Industries, Valero, U.S . Treasury, Holt, U.S, Crystallex International, PDVSA, National Assembly, Citgo, PDV, Supreme, Evercore, ConocoPhillips, Exxon Mobil, Exxon, U.S . Treasury Department's, Foreign Assets Control, Thomson Locations: United States, Petroleum, U.S, Houston, Venezuela, Washington, Saudi, Pickering, Citgo, Delaware, Caracas

☆ BoE's Bailey says future rate decisions will be 'tight'
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Bailey echoed recent comments from other BoE officials who have stressed they are keeping their options open for future rate decisions after the Monetary Policy Committee voted 5-4 to halt its run of back-to-back rate hikes in September. Only a quarter of economists polled by Reuters late last month thought the MPC would vote to raise Bank Rate again on Nov. 2. "The last mile really does lean heavily on... restrictive policy," Bailey said, adding the economic outlook appeared "very subdued". Britain's potential growth rate - the pace at which the economy can grow without generating excess inflation - was "substantially less" than in the past, something that would continue to weigh on monetary policy, Bailey said.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, Bailey, BoE, Huw Pill, Ben Broadbent, Balazs Koranyi, Andy Bruce, William Schomberg Organizations: Bank of England, Monetary, Rights, Reuters, Institute of International Finance, International Monetary Fund, Thomson Locations: London, Britain, Rights MARRAKECH, Morocco, Marrakech

☆ India central bank keeps key rate steady; liquidity measures in focus
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

A Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. REUTERS/Francis Mascarenhas Acquire Licensing RightsMUMBAI, Oct 6 (Reuters) - The Reserve Bank of India's key lending rate was held steady at a fourth consecutive policy meeting on Friday, as widely expected, with investors more focused on the regulator's liquidity management plan amid a resurgence in inflation. The country's monetary policy committee (MPC) kept the repo rate (INREPO=ECI) unchanged at 6.50%, in a unanimous decision. It has raised rates by 250 basis points (bps) since May 2022 in a bid to cool surging prices. High inflation has put the focus back on liquidity management amid the reduced ability to keep hiking rates at the risk of hurting growth and commentary and further measures, if any, are being closely monitored by market participants.

Persons: Francis Mascarenhas, Das, Swati Bhat, Sudipto Ganguly, Savio D'Souza Organizations: Bank of India, REUTERS, Rights, Reserve Bank of, Reuters, Thomson Locations: Mumbai, India, Rights MUMBAI

☆ Bank of England halts run of interest rate hikes as economy slows
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +4 min

A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. A day after a surprise slowing in Britain's fast pace of price growth, the BoE's Monetary Policy Committee voted by a narrow margin of 5-4 to keep Bank Rate at 5.25%. "There are increasing signs of some impact of tighter monetary policy on the labour market and on momentum in the real economy more generally," the MPC said in a statement. The BoE's decision to pause its rate hikes came a day after the U.S. Federal Reserve also opted to keep borrowing costs on hold. Last week, the European Central Bank raised rates but suggested it might be the last for now.

Persons: BoE, Maja Smiejkowska, William Schomberg, Andy Bruce, Suban Abdulla, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, Andrew Bailey, Bailey, BRITAIN BOE Organizations: Bank of England, REUTERS, MPC, U.S . Federal Reserve, European Central Bank, Thomson Locations: London, Britain

A day after Britain's fast pace of price growth unexpectedly slowed, the BoE's Monetary Policy Committee voted by the narrowest margin of 5-4 to keep Bank Rate at 5.25%. But rate futures suggested they still saw a 50% chance of Bank Rate rising to 5.5% by the end of this year. Britain's economy, hit hard by Brexit, the COVID-19 pandemic and the surge in gas prices triggered by Russia's invasion of Ukraine, has been struggling with the highest inflation rate in the Group of Seven. But growth remains fragile, heightening the risk that the BoE's 14 back-to-back rate hikes will push the economy into a recession. Last week, the European Central Bank raised rates but suggested its move might be the last for now.

Persons: Andrew Bailey, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, BoE, Reuters Graphics Sterling, Bailey, Rishi Sunak, Peter Nicholls, Frances Haque, Reuters Graphics Bailey, Yael Selfin, Hugh Gimber, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters Graphics, U.S ., MPC, REUTERS, Santander UK, IF, U.S . Federal Reserve, European Central Bank, KPMG, Investors, Bank of, Morgan Asset Management, Thomson Locations: Ukraine, London, Britain

☆ Bank of England ends run of 14 straight interest rate hikes after cooler-than-expected inflation
▼ + stars: | 2023-09-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. LONDON — The Bank of England on Thursday ended a run of 14 straight interest rate hikes after new data showed inflation is now running below expectations. Investors on Wednesday ramped up bets that the Bank would pause its interest rate hiking cycle after U.K. inflation came in significantly below expectations for August. Thomas Verbraken, executive director of risk management research at MSCI, said the burning question is whether the Bank of England's Thursday decision signals the peak of the interest rate cycle. Forward looking indicators suggest the U.K. economy is already flirting with recession, a backdrop consistent with cooling wage growth and a policy pivot," Mehdi said.

Persons: BOE, Andrew Bailey, We'll, Marcus Brookes, BoE, Brookes, Thomas Verbraken, Hussain Mehdi, Mehdi Organizations: Bank of England, City of, LONDON, Bank, U.S, Monetary, MPC, Quilter Investors, U.S . Federal Reserve, Bank of England's, HSBC Asset Management, Bank of, Fed, European Central Bank Locations: City, City of London, Bank of England's

☆ Reactions: Bank of England bashes pound after halting rate rises
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +8 min

A pedestrian carrying an umbrella walks near the Bank of England in the City of London, Britain, July 30, 2023. Investors had already rushed on Wednesday to reel in their bets on further UK rate rises after data showed UK inflation cooled surprisingly quickly in August. Against the euro , the pound was down 0.5% at 86.74 pence, having traded around 86.70 pence before the decision. "The MPC still refers to its flexibility to react should things change, but the chances are this could be the peak in this UK interest rate cycle." "However, there is a risk that the ‘lag effect’ on interest rate hikes means that today’s decision may not be felt for another 9 to 12 months."

Persons: Hollie Adams, Sterling, THOMAS, Huw Pill's, HUGH GIMBER, PHILIP SHAW, DOUGLAS GRANT, JEREMY BATSTONE, CARR, RAYMOND JAMES, FRANCES HAQUE, JOE TUCKEY, RICHARD GARLAND, GILES COGHLAN, BoE, stagflation, Amanda Cooper, Dhara Organizations: Bank of England, City of, REUTERS, London, Investors, Bank of, Bank, MPC, SANTANDER, LONDON, Core CPI, PMI, CPI, EMEA, Thomson Locations: City, City of London, Britain, London, MANX, EUROPEAN, FRANCE, GROUP, OXFORDSHIRE

Yet in Europe, sterling came under pressure after data showed Britain's high inflation rate fell unexpectedly in August, prompting speculation that the Bank of England could pause its historic run of interest rate hikes as soon as Thursday. Two-year Treasury yields were down 3.5 basis points in London trade at 5.07%, having risen sharply on Tuesday, when five- and 10-year Treasury yields reached 16-year highs. World stock markets were edging higher ahead of the Fed rate decision. UK gilt yields fell sharply as investors slashed bets for a rate hike on Thursday, with two-year yields last down over 14 bps at 4.85% . "Combined with their recent dovish commentary, we now expect the MPC to keep Bank Rate unchanged tomorrow and lower our forecast for the terminal policy rate to 5.25%," Stehn and co. added.

Persons: DAX, Kai Pfaffenbach, Jerome Powell, Lee Hardman, Sterling underperformed, Goldman Sachs, Sven Jari Stehn, Stehn, Masato Kanda, Eugene Low, Dhara Ranasinghe, Samuel Indyk, Tom Westbrook, Toby Chopra, Chizu Organizations: REUTERS, Sterling, U.S, Treasury, Federal Reserve, Bank of England, Brent, Federal, Fed, Japan's Nikkei, MPC, Monetary, Bank of, New Zealand, Thomson Locations: Frankfurt, Germany, Europe, Saudi Arabia, Russia, U.S, London, Sweden, Switzerland, Norway, Britain, Japan, Asia, Pacific, Hong Kong, China, Singapore

☆ Inflation surprise puts a rate-hike pause back on the table for Bank of England
▼ + stars: | 2023-09-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

In August, the Bank of England increased interest rates for the 14th time in a row. LONDON — The Bank of England's next monetary policy move is now wide open, following a significant downside surprise in the August inflation print out earlier on Wednesday. The goods rate rose slightly from 6.1% to 6.3%, but was more than offset by the services rate slowing significantly from 7.4% to 6.8%. Following the surprise, Goldman Sachs changed its projection for Thursday's critical rate decision and now expects the Bank of England to keep its main bank rate unchanged. Combined with their recent dovish commentary, we now expect the MPC to keep Bank Rate unchanged tomorrow and lower our forecast for the terminal policy rate to 5.25% (from 5.5% before).

Persons: Goldman Sachs Organizations: Bank of England, of, Bank, MPC Locations: London

☆ Goldman Sachs cuts BoE terminal rate view to 5.5%
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. REUTERS/Maja Smiejkowska//File Photo Acquire Licensing RightsSept 18 (Reuters) - Goldman Sachs lowered its forecast for the Bank of England's (BoE) terminal rate by 25 basis points to 5.5%, after predicting that the central bank would hold interest rates steady at its November meeting against an earlier forecast of a hike. The BoE raised its key interest rate by a quarter of a percentage point to a 15-year peak of 5.25% in early August, its fourteenth back-to-back increase, and warned that borrowing costs were likely to stay elevated for some time. Economists led by Sven Jari Stehn said in a note dated Friday that they still expect the BoE to hike rates by 25 bps at its September Monetary Policy Committee (MPC) meeting next week. Reporting by Aniruddha Ghosh in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Maja Smiejkowska, Goldman Sachs, Sven Jari Stehn, Aniruddha Ghosh Organizations: Bank of England, REUTERS, Bank of England's, MPC, Thomson Locations: London, Britain, Bengaluru

☆ Bank of England readies what may be its final rate hike
▼ + stars: | 2023-09-17 | by ( Andy Bruce | ) www.reuters.com time to read: +3 min

A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. All but one of 65 economists polled by Reuters in recent days predicted the BoE will raise Bank Rate to 5.5% on Thursday from 5.25%, which would mark its highest level since 2007. If Bank Rate does peak at 5.5% - from a starting point of 0.1% - it would rank fourth on the list of Britain's biggest tightening cycles of the last century, behind surges that took place in the late 1980s and in the early- and late-1970s. The European Central Bank also cited a weak economic outlook when it hiked rates last week and signalled that would be its last such move in the current cycle. Inflation figures for August due on Wednesday are likely to buck the falling trend thanks to rising petrol prices.

Persons: BoE, Maja Smiejkowska, Andrew Bailey's, Bailey, Benjamin Nabarro, Catherine Mann, Catherine Evans Organizations: Bank of England, REUTERS, Reuters, Monetary, European Central Bank, Barclays, Data, MPC, Citi, Thomson Locations: London, Britain

☆ Bank of England to raise Bank Rate to 5.50% in September, significant minority expect further hike: Reuters poll
▼ + stars: | 2023-09-14 | by ( Shaloo Shrivastava | ) www.reuters.com time to read: +4 min

Nearly all 65 economists in the Sept. 11-13 Reuters poll expected the BoE to hike its Bank Rate by 25 basis points to 5.50% this month, in line with interest rate futures pricing. Survey medians showed the Bank Rate was expected to peak at 5.50%, matching rate futures pricing, and stay there until mid-2024. While 28 economists expected the Bank Rate to peak at 5.75%, two said 6.00%. Nine of 16 gilt-edged Market Makers (GEMMs) that participated in the poll predicted a 5.50% peak rate and seven said 5.75%. A separate Reuters poll showed average house prices in Britain were predicted to fall 4% this year and flatline in 2024 before rising in 2025.

Persons: BoE, Maja Smiejkowska, Ellie Henderson, BoE Governor Andrew Bailey, Catherine Mann, Shaloo Shrivastava, Anitta Sunil, Purujit Arun, Maneesh Kumar, Pranoy, Ross Finley, Hari Kishan, Mark Potter Organizations: Bank of England, REUTERS, Rights, Reuters, HSBC, MPC, Royal Institution, Chartered Surveyors, Thomson Locations: London, Britain, Investec

Mexico President Andres Manuel Lopez Obrador's steps to roll back reforms aimed at opening Mexico's power and oil markets to foreign competitors ultimately sparked the trade dispute. The steps add to a significant worsening of trade relations between Washington and Mexico City, even as their economic integration grows. Like the energy policies, Washington argues that banning GMO corn for human and animal consumption violates Mexico's obligations under the trade pact. The White House has hoped to avoid escalating energy trade tensions with Mexico as it sought help on immigration and drug trafficking, but talks that began last year have made little progress. In 2022, Mexico had a $130.5 billion goods trade surplus with the United States.

Persons: Katherine Tai, Tatiana Clouthier, Trade Mary Ng, Joe Biden's, Andres Manuel Lopez Obrador's, USTR, Obrador, Biden, Donald Trump, Jarrett Renshaw, David Lawder, Stephen Eisenhammer, Tomasz Janowski Organizations: Trade, Small Business, Export, Washington, United States Trade Representative, United, Chevron, Marathon Petroleum, Comision Federal, Mexico, Ministry, U.S, North American Free Trade, Thomson Locations: Mexican, United States, Mexico, Canada, Mexico City, U.S, United States Mexico Canada, USMCA, Washington, China, Washington's

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Thursday, August 3, 2023. "But I think we are much nearer to it on interest rates on the basis of current evidence." It is expected to raise borrowing costs again later this month, taking Bank Rate to 5.5%. In May, Bailey told the same panel of lawmakers that the BoE was "nearer" to the peak in interest rates. After that, the central bank increased Bank Rate in June and in August.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, we're, we've, Bailey, BoE, I've, Jon Cunliffe, Cunliffe, Swati Dhingra, Dhingra, Farouq Suleiman, Suban Abdulla, Kylie MacLellan, William Schomberg, Sharon Singleton Organizations: Bank of England, Monetary, Companies Bank of England, Treasury, Thomson Locations: London, British

Distillate inventories, which include diesel and heating oil, were by late August about 15% below the five-year average for this time of year, according to the Energy Information Administration. "We are living barrel to barrel and there is just no room for errors in the system," Price Futures Group analyst Phil Flynn said. Refiners have failed to build sizable stocks ahead of the seasonal surge in demand due to tight supplies of medium and heavy crude oil grades that are distillate-rich. Seasonal overhauls could take out around 2 million bpd of the country's 18.1 million bpd refining capacity, he said. "Even with soft demand, diesel inventories are stubbornly low, and cracks have rallied in search of supply or demand-side relief before winter," the analysts said.

Persons: Bing Guan, Phil Flynn, Refiners, Bjarne Schieldrop, SEB, Robert Yawger, Shariq Khan, Laura Sanicola, Marguerita Choy Organizations: Angeles Refinery, California Air Resources Board, Energy Information Administration, Futures, Organization Petroleum Exporting, Saudi, Bank of America, Thomson Locations: Angeles, California, Carson , California, U.S, Europe, OPEC, Ukraine, Garyville , Louisiana

☆ Fight the market malaise with these ‘attractive’ stocks, Bank of America and Goldman say
▼ + stars: | 2023-09-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs and Bank of America named an assortment of companies this week that they say have upside in the weeks ahead. NextEra Energy Buy the dip in shares of the renewable energy company, Goldman analyst Carley Davenport says. Endeavor Group Bank of America analyst Jessica Reif Ehrlich said earlier this week that shares of the media company offer "striking value." Endeavor Group- Bank of America, buy rating "An entourage of highly attractive assets. ... .We continue to believe that valuation is attractive..." H World Group Limited- Bank of America, buy rating "Shares weak despite solid results = attractive opportunity.

Persons: Goldman Sachs, Goldman, Carley Davenport, Davenport, she's, Jessica Reif Ehrlich, Reif Ehrlich, BofA, Neil Mehta, Mehta Organizations: Bank of America, CNBC, Marathon Petroleum, Endeavor, H, NextEra, Florida, Endeavor Group Bank of America, WWE, UFC, Media, Entertainment, MPC, Petroleum, ~$ Locations: China

Mandatory credit Kyodo/via REUTERS Acquire Licensing RightsBENGALURU, Aug 29 (Reuters) - Oil prices edged higher on Tuesday as Hurricane Idalia intensified as it headed towards Florida's Gulf Coast, threatening to hit crude oil supplies in an already tightening market. Brent crude oil futures rose 34 cents, or 0.4%, to $84.76 a barrel by 11:44 a.m. EDT [1544 GMT], while the U.S. West Texas Intermediate futures rose 36 cents, or 0.5%, to $80.46 a barrel. U.S. crude oil inventories are expected to have dropped in the latest week, according to a preliminary Reuters poll on Monday. On the demand front, investors are monitoring data from major economies for further clues on interest rates this year and next. Federal Reserve Chair Jerome Powell on Friday said the U.S. central bank may need to raise interest rates further to cool stubborn inflation.

Persons: Idalia, Phil Flynn, Jerome Powell, Shariq Khan, Natalie Grover, Emily Chow, Louise Heavens, David Goodman, Mike Harrison Organizations: Kyodo, REUTERS Acquire, Rights, Brent, U.S . West Texas, Chevron, Marathon Petroleum, American Petroleum Institute, Futures, Federal, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, Gulf, U.S, Florida, Cuba, Mexico, Garyville , Louisiana, United States, Beijing, Bengaluru, London, Singapore, Houston

Meanwhile, Hurricane Idalia is expected to strengthen into a major hurricane with maximum sustained winds of 125 miles per hour (201 kilometers per hour) before hitting the northwest coast of Florida early on Wednesday, according to the U.S. National Hurricane Center (NHC). The weather system is not expected to hit major oil producing platforms in the U.S. Gulf of Mexico. However, oil major Chevron Corp (CVX.N) evacuated some staff from three platforms in the region. Production was continuing at Chevron-operated Gulf of Mexico oil and gas facilities. U.S. crude oil inventories are expected to have dropped in the latest week, according to a preliminary Reuters poll on Monday.

Persons: Brent, Hurricane Idalia, Idalia, Robert Yawger, Yawger, Shariq Khan, Natalie Grover, Emily Chow, David Goodman, Mike Harrison, Josie Kao Organizations: Kyodo, REUTERS Acquire, bbl U.S, Hurricane, . West Texas, Brent, U.S, Federal Reserve, National Hurricane Center, Labor, Chevron Corp, Chevron, Marathon Petroleum, American Petroleum Institute, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, Florida, BENGALURU, U.S . Gulf of Mexico, Mexico, Gulf of Mexico, Garyville , Louisiana, United States, Bengaluru, London, Singapore, Houston

☆ Energy is the best-performing sector this summer. Here are the stocks driving it
▼ + stars: | 2023-08-27 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 energy sector has outperformed its counterparts since Memorial Day, rallying more than 10% in that time. Given this backdrop, CNBC Pro screened the S & P 500 energy sector to find the best-performing stocks in the space since Memorial Day — and where analysts see them going from here. Baker Hughes, meanwhile, is expected to rise by 12% based on the average price target, and 70% of analysts rate it a buy. APA's average price target implies upside of 16.6% over the next 12 months, but less than half of analysts give it a buy rating. Williams only has buy ratings from 39% of analysts, and the average price target signals upside of just 8.6%.

Persons: It's, SLB, Halliburton, Baker Hughes, Williams Cos, Williams Organizations: West, CNBC Pro, Marathon Petroleum, MPC, APA, Targa, Halliburton Locations: West Texas, China, Europe, Marathon

REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Oil futures climbed about 1% to a one-week high on Friday as U.S. diesel prices soared, the number of oil rigs dropped and a fire broke out at a refinery in Louisiana. Brent futures rose $1.12, or 1.3%, to settle at $84.48 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 78 cents, or 1.0%, to settle at $79.83. Diesel futures soared about 5% to a near seven-month high, boosting the diesel crack spread , a measure of refining profit margins, to its highest since January 2023. "The main thing was concern about diesel prices, the diesel crack spread and worries about diesel shortages when refineries go into maintenance," said Phil Flynn, an analyst at Price Futures Group. He added prices also drew support from a fire at a Louisiana refinery and a drop in U.S. oil rigs.

Persons: Chen Aizhu, Phil Flynn, Brent, WTI, Baker Hughes, Jerome Powell, Morgan Stanley, John Evans, Natalie Grover, Laura Sanicola, Muyu Xu, David Goodman, Jason Neely, David Gregorio, Cynthia Osterman Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, Diesel, Price Futures Group, U.S ., Federal, Thomson Locations: China, Dalian, Liaoning province, Louisiana, Brent, , Louisiana, U.S, Germany, Europe's, Norwegian, London, Washington, Singapore

☆ Los Angeles refiners prepare for Hurricane Hilary
▼ + stars: | 2023-08-18 | by ( Erwin Seba | ) www.reuters.com time to read: +2 min

A general view of the Phillips 66 Company's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, at sunset in Carson, California, U.S., March 11, 2022. Phillips 66 (PSX.N) said operations at its 139,000-bpd Los Angeles refinery were unaffected by the storm. Local and state regulators did not report any changes in operations at Los Angeles refineries on Friday and West Coast refined market traders said they did not know of any cut backs in production. The U.S. National Hurricane Center said Hilary is forecast to be at tropical storm strength when it moves east of Los Angeles on Monday. Heavy rain, possible flash flooding and winds at 40 miles per hour (64 kph) or stronger are forecast for Los Angeles on Sunday and Monday.

Persons: Bing Guan, Hurricane Hilary, Hilary, Erwin Seba, Grant McCool Organizations: Phillips, Los, Los Angeles Refinery, Rights, Chevron, Valero, Marathon Petroleum, New York Mercantile Exchange, U.S, National Hurricane Center, Los Angeles, Sunday, U.S ., Gulf, Thomson Locations: Los Angeles, Carson , California, U.S, California, Local, Coast, Los, U.S . West Coast, Asia, Gulf Coast

☆ Here are Wednesday's biggest analyst calls: Amazon, Tesla, Nio, Nvidia, Roblox, Dick's and more
▼ + stars: | 2023-08-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Amazon as buy Goldman Sachs said the e-commerce giant remains a top idea at the firm. Jefferies reiterates Cava as buy Jefferies said it's sticking with its buy rating on shares of Cava after the Mediterranean restaurant's earnings report Tuesday. Jefferies reiterates Roblox as buy Jefferies said it's standing by its buy rating on Roblox but that it's lowering its price target to $38 per share from $50. "We reiterate our Buy rating on sequential improvement in product offerings and sales volume." Wedbush reiterates Dick's as outperform Wedbush said it's bullish on shares of Dick's heading into earnings next week.

Persons: Tesla, Bernstein, DINO, MGY, Goldman Sachs, Jefferies, Cava, Roblox, it's, Bud Light, Beer, KeyBanc, FTNT, Dr Pepper, Wells, Wells Fargo, Marqeta, Nio, Wedbush, Morgan Stanley, Getty Organizations: Street, Barclays, Mizuho, Chevron, North American, Citi downgrades, Citi, Deutsche Bank, Anheuser, Busch InBev, Nvidia, Network, Palo, UBS, GE HealthCare, Bank of America, Corp, News Corp, Getty Locations: MTDR, eCommerce, Cava, Singapore

☆ Nigeria's suspended cenbank governor to face fraud charges on Thursday
▼ + stars: | 2023-08-16 | by ( Camillus Eboh | ) www.reuters.com time to read: +2 min

Nigeria's Central Bank Governor Godwin Emefiele briefs the media during the MPC meeting in Abuja, Nigeria January 24, 2020. REUTERS/Afolabi Sotunde/File Photo Acquire Licensing RightsABUJA, Aug 16 (Reuters) - Nigeria's suspended central bank governor Godwin Emefiele will appear in a high court in Abuja on Thursday, when he is expected to enter a plea in a 20-count indictment, a government lawyer said on Wednesday. Government lawyers, on Tuesday, said they had filed additional graft charges against the governor, including allegedly "conferring unlawful advantages" and "unlawful procurement". Local papers said the central bank employee was a director in the private company. Emefiele, suspended by President Bola Tinubu in June, had already pleaded not guilty to charges of possessing a firearm illegally, which were subsequently withdrawn.

Persons: Nigeria's Central Bank Governor Godwin Emefiele, Afolabi, Godwin Emefiele, Emefiele, Bola Tinubu, Tinubu, Camillus Eboh, Chijioke, Sharon Singleton Organizations: Nigeria's Central Bank Governor, MPC, REUTERS, Rights, Government, Thomson Locations: Abuja, Nigeria, Rights ABUJA, Lagos, Africa's

Annual pay growth including bonuses also accelerated, hitting 8.2%, the fastest outside the coronavirus pandemic period when government job subsidies distorted the data. Two-year British government bond yields, which are sensitive to speculation about BoE rate changes, hit their highest level in a month. Samuel Tombs, an economist with Pantheon Macroeconomics, said wage increases were set to slow in the second half of 2023. "The momentum in wage growth still is too strong for the Committee to take a break just yet," Tombs said. However, inactivity due to long-term sickness rose to a new record high, adding to the problems for employers seeking to fill job vacancies and adding to the pressure on pay growth.

Persons: BoE, Sterling, Samuel Tombs, Tombs, Andrew Bailey, Bailey, it's, Sharon Graham, Sachin Ravikumar, Sharon Singleton Organizations: Reuters, Sterling, Bank of England, Pantheon, Public, Unite, Union, Thomson Locations: Britain

☆ Here are Tuesday's biggest analyst calls: Disney, Nvidia, Ford, Walmart, JPMorgan, Palo Alto and more
▼ + stars: | 2023-08-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Daiwa reiterates Disney as buy Daiwa is standing by its buy rating on Disney after the company's earnings report last week. Deutsche Bank reiterates Palo Alto Networks as buy Deutsche Bank is bullish heading into earnings later this week. Barclays reiterates Walmart as overweight Barclays is bullish heading into earnings later this week. " Bank of America downgrades Phillips 66 and Marathon Petroleum to neutral from buy Bank of America downgraded several refiners and said the risk/reward is "no longer compelling." Bank of America initiates Turnstone Biologics as buy Bank of America said the biopharmaceutical company is well-positioned.

Persons: it's, Daiwa, KBW, Berkshire Hathaway, Morgan Stanley, Pharvaris, Wells Fargo, Wells, it's bullish, Hannon Armstrong, KeyBanc, PSTG, " Bank of America downgrades Phillips, DINO, Ford Organizations: UBS, Nvidia, Disney, Deutsche Bank, Networks, JPMorgan, Citigroup, Bank of America, ISI, Barclays, Walmart, " Bank of America, of America, Marathon Petroleum, U.S, MPC, Ford

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