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☆ Klimt portrait missing for nearly a century could sell for $54 million
▼ + stars: | 2024-01-26 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +5 min

CNN —A portrait by Gustav Klimt that was unseen for almost a century is expected to fetch millions when it goes up for auction this spring. However, new research by the auction house suggests Justus’ wife, Lilly, hired him to paint one of their two daughters. A cape richly decorated with flowers is draped around her shoulders,” the auction house said. Its exact fate after 1925 is “unclear,” according to the auction house. The last portrait completed by Klimt became the most expensive artwork ever to sell at a European auction, when it fetched a staggering £85.3 million ($108.4 million) in London last year.

Persons: Gustav Klimt, Fräulein, ”, Roland Schlager, Klimt, Adolf, Justus Lieser, Margarethe Constance, Justus ’, Lilly, “, “ Adolf, Henriette Lieser, Claudia Mörth, Fächer ”, Paul G, Allen Organizations: CNN, Austrian, Getty, Washington, Nazi, Microsoft Locations: Vienna, Austrian, Austro, Washington, Austria, Central Europe, Switzerland, Germany, Britain, Hong Kong, London, Birch, ”

The energy sector is under pressure, but some stocks within the space are poised for an upside breakout. These names are cheap, are expected to rise more than 10% to their average price targets and are trading below where they have been historically. Upside to average price target of more than 10%. The U.S-listed shares, which are trading 5% below their 200-day moving average, have a forward price-to-earnings ratio of 8.6. It's set to surge 26% to its average price target and is trading at a forward P/E of just 7.6.

Persons: Baker Hughes, It's, Bank of America's Christopher Kuplent, Kuplent, underperformed, Murray Auchincloss, Auchincloss, Bernard Looney Organizations: Energy, APA, CNBC, Equinor ASA, Bank of America's, BP Locations: China, Norwegian, U.S, 2Q23

☆ Stop being fooled by misinformation. Do this instead
▼ + stars: | 2023-11-29 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

It’s a text from your credit card company — someone is trying to purchase a $2,500 laptop using your account number. Be it finance, health care or politics, there is a global “infodemic” of misinformation that is affecting people’s health and well-being, according to the World Health Organization. “For most of the population who isn’t extreme in their attitudes, fact-checking and debunking reduces the degree to which people rely on falsehoods, but it doesn’t fully eliminate it,” van der Linden said. This approach works much like a vaccine, van der Linden said. “Instead of talking about immigration or abortion, talk about ‘Star Wars’ and ‘South Park’ as a starting point,” van der Linden said.

Persons: COVID, ”, Sander van der, van der Linden, Oscar Wong, nudges, “, ” van der Linden, you’re, Anakin, Obi, ” Obi, “ We’ll Organizations: CNN, Facebook, World Health Organization, WHO, “, Social, University of Cambridge, American Psychological Association, Getty, Cambridge, Research, ‘ Locations: Sander van der Linden, Covid, Cambridge, Canada, absolutes

☆ Citi expects this underperforming oil and gas stock to turnaround next year with 16% upside
▼ + stars: | 2023-11-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Investors should take a second look at the oil and gas exploration company Ovintiv , according to Citibank. Ovintiv's stock collapsed earlier this year and is down near 12%, underperforming the S & P Oil & Gas Exploration & Production ETF which is up 2% for year. Citi believes Ovintiv's performance in early 2024 will improve with the investment bank putting oil and condensate production 2% above consensus estimates. Ovintiv's production plateau will rise after assessing performance on wells acquired in the Midland acreage earlier this year, according to Citi. Meanwhile, Citi downgraded APA Corp, an oil and gas company with a similar market cap to Ovintiv.

Persons: Scott Gruber Organizations: Citibank, P Oil & Gas Exploration, Citi, APA Corp, APA Locations: Midland, Egypt

The group usually has one active case against financial regulators, but currently has two against the Securities and Exchange Commission (SEC) and one against the Consumer Financial Protection Bureau (CFPB), he said. To be sure, the financial regulators have been sued many times during previous administrations, including by pro-reform advocacy groups. "There are some financial regulators that are walking right into it," he added. In September, for example, bank groups accused regulators including the Federal Reserve of violating the APA with a new capital rule. According to research by Wharton School professor David Zaring, neither industry groups nor individual lenders have filed more than one suit over the past decade challenging Fed policymaking.

Persons: Jim Bourg, Gibson, Dunn, Crutcher, Joe Biden's, Donald Trump's, Tom Quaadman, Jack Inglis, CFPB, Dennis Kelleher, Trump, Eugene Scalia, Gibson Dunn, Scalia, Antonin Scalia, Rebeca Romero Rainey, David Zaring, Kelleher, Douglas Gillison, Chris Prentice, Pete Schroeder, Nate Raymond, Jody Godoy, Megan Davies, Nick Zieminski Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, WASHINGTON, Democratic, Republican, Reuters, APA, U.S . Chamber of Commerce, Securities and Exchange Commission, Consumer Financial Protection Bureau, Funds, Alternative Investment Management Association, Fifth Circuit, Appeals, Better Markets, Biden, American Bankers Association, Labor, Supreme, Independent Community Bankers of, Federal, Wharton School, Thomson Locations: Washington, Independent Community Bankers of America

☆ The market is entering deep overbought territory, and these stocks could be due for a pullback
▼ + stars: | 2023-11-17 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Certain stocks, including Cintas and Chipotle Mexican Grill , may be due for a pullback as the market hovers close to overbought conditions, according to one popular metric. The broader market is on the cusp of entering overbought territory, however, according to Wolfe Research. A stock with a 14-day RSI greater than 70 is considered to be overbought and at risk of a pullback. American Express , another company that has seen a boost in its stock price this week, could also be due for a pullback. Analysts covering the company forecast a 7.8% upside for its stock price, and just above 50% rate it a buy.

Persons: Thursday's, Jasper Bibb, TD Cowen, Ingersoll Rand Organizations: Nasdaq, Dow Jones, Wolfe Research, CNBC, Truist Securities, American Express, Barclays, Qualcomm, TransDigm, APA Corp, Marathon Oil, Marathon, APA, UBS, Kroger, Coterra Energy, Cisco Systems Locations: overbought

☆ These high beta stocks will lead the way if the year-end comeback continues
▼ + stars: | 2023-11-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +8 min

Essentially, if the broad market index rises by 1%, the following high beta stocks could jump by 1.5% or more. The company has a beta value of 1.7 and is scheduled to report earnings on Tuesday. Essentially, if the broad market index rises by 1%, the following high beta stocks could jump by 1.5% or more. Goldman Sachs recently recommended the pullback in Devon Energy shares as a buying opportunity, citing the company's strong balance sheet as a factor. The company has a beta value of 1.7 and is scheduled to report earnings on Tuesday.

Persons: Stocks, Goldman Sachs, Wells Fargo, Gunnar Wiedenfels, Bing Guan Organizations: CNBC Pro, Dow Jones, Nasdaq, CNBC, APA Corp, APA, Devon Energy, Marathon, Marathon Oil, Nvidia, UBS, Qs, Warner Bros Discovery, Angeles Refinery, Reuters, Beta, APA APA Corp, Entertainment, Devon Energy Corp, Oil Corp, Targa Resources Corp, MGM MGM Resorts, HAL Halliburton, McMoRan, Aptiv, WYNN Wynn Resorts, Body, Semiconductor Corp, NVIDIA Corp, Zebra Technologies, Albemarle, Alaska Air Group Locations: Angeles, Carson , California, Freeport

☆ Portuguese Judge Orders Release of Those Detained in Corruption Probe
▼ + stars: | 2023-11-13 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

LISBON (Reuters) - A Lisbon judge ordered on Monday that all five people detained last week for alleged corruption and influence-peddling, including the outgoing Portuguese prime minister's former chief of staff, be released from custody, the court said. They remain suspects in the investigation into alleged illegalities in the government's handling of lithium and hydrogen projects, as well as a large-scale data centre. The probe has led to the resignation of Prime Minister Antonio Costa, who is the target of a related investigation, and a snap election being called for March 10. Lacerda Machado was released on a 150,000-euro ($160,305) bail, while no bail was demanded for Escaria, who will be barred from travelling abroad, the court said. Others were named formal suspects in the investigation but were not detained, including Infrastructure Minister Joao Galamba, and head the environment agency APA, Nuno Lacasta.

Persons: Antonio Costa, Prosecutors, Vitor Escaria, Diogo Lacerda Machado, Costa's, Lacerda Machado, Joao Galamba, Nuno Lacasta, Costa, Catarina Demony, Andrei Khalip, Aislinn Laing Organizations: Escaria, Infrastructure Locations: LISBON, Lisbon

REUTERS/Catarina Demony/File Photo Acquire Licensing RightsLISBON, Nov 8 (Reuters) - Portuguese anti-mining groups have urged the government to suspend and review all lithium projects while authorities investigate alleged corruption in the handling of "green" energy deals that have led to the resignation of the prime minister. Antonio Costa resigned on Tuesday, hours after prosecutors detained five people, including his chief of staff, and named two formal suspects close to him in an investigation into lithium mining and hydrogen projects. With more than 60,000 metric tons of known lithium reserves, Portugal is Europe's biggest lithium producer, but its miners sell almost exclusively to the ceramics industry. "Lithium mining projects in Portugal must be immediately cancelled to not allow territories and populations to be affected based on corrupt and unclear processes," the groups said. In 2019, Portugal's government came under fire from lawmakers for signing a contract giving exploration rights for lithium mining to Lusorecursos when the company was only three days old.

Persons: Catarina Demony, Antonio Costa, Lusorecursos, Savannah, Nuno Lacasta, Joao Galamba, UDCB, Aislinn Laing, Nick Macfie Organizations: REUTERS, Rights, Justice, Environment, APA, Savannah Resources, Infrastructure, Thomson Locations: Covas do Barroso, Portugal, Rights LISBON, Portuguese, Europe, China, London, Savannah, Barroso

[1/4] Portugal's Prime Minister Antonio Costa attends the informal meeting of European heads of state or government, in Granada, Spain October 6, 2023. REUTERS/Juan Medina/File Photo Acquire Licensing RightsLISBON, Nov 7 (Reuters) - Portuguese Prime Minister Antonio Costa resigned on Tuesday, just hours after prosecutors detained his chief of staff in a probe into alleged corruption in his administration's handling of lithium mining and hydrogen projects. Costa, who prosecutors said was the target of a separate investigation, announced the decision in a televised statement after meeting President Marcelo Rebelo de Sousa. Over 40 searches were carried out on Tuesday at several government buildings, including Escaria's office and the infrastructure and environment ministries, the prosecutor's office said. "At stake may be ... facts capable of constituting crimes of malfeasance, active and passive corruption of politicians and influence peddling," the prosecutor's office said.

Persons: Antonio Costa, Juan Medina, Marcelo Rebelo de Sousa, Costa, Rebelo de Sousa, Vitor Escaria, Joao Galamba, Nuno Lacasta, Catarina Demony, Patricia Rua, Sergio Goncalves, Andrei Khalip, Emelia Organizations: Portugal's, REUTERS, Rights, Costa's Socialists, of State, TAP, APA, Prosecutors, Thomson Locations: Granada, Spain, Rights LISBON, Portuguese, Costa, Portugal, Sines

“It’s unbelievable that 80 years after Nazi times, we go back to such times and have antisemitic acts here, in the center of Europe,” Engelmayer told CNN. “That’s not the life we want.”Swastikas were sprayed on the walls outside the Vienna cemetery. Georg Hochmuth/APA/AFP/Getty Images‘The scale is completely different’The spike in antisemitic attacks in Europe has been wide-reaching. In London, the first week after Hamas’ attacks saw a 1,353% rise in antisemitic incidents, the Metropolitan Police reported. Not to go to places which are considered Jewish, like a synagogue.”But alongside the fear, the rise in antisemitic incidents has been met with defiance.

Persons: Austria CNN —, Rabbi Jaron Engelmayer, ” Engelmayer, Oskar Deutsch, ” Deutsch, ”, “ That’s, Georg Hochmuth, Gérald Darmanin, Robert Habeck, Menachem Margolin, “, Rabbi Engelmayer, Karl Nehammer, Tal Yeshurun, Yeshurun, ” Yeshurun, there’s, Annegret Hilse, “ We’re Organizations: Austria CNN, CNN, Wednesday, Nazi, Jewish, AFP, Getty, Metropolitan Police, European Jewish Association, ” Locations: Vienna, Austria, tatters, Europe, Israel, London, Germany, France, United States, Dublin, Ireland, Berlin, “

☆ Brookfield’s climate deal may run out of energy
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

The logo of Australian energy company Origin is pictured in Melbourne, Australia, July 3, 2016. REUTERS/Jason Reed/File Photo Acquire Licensing RightsMELBOURNE, Oct 31 (Reuters Breakingviews) - Australia’s top pension fund has aptly chosen Halloween to try to scare Brookfield Asset Management (BAM.TO) and co-bidder MidOcean Energy to dig deeper in their pursuit of Origin Energy (ORG.AX). AustralianSuper said on Tuesday it intends to vote its near-14% stake against the current A$18.7 billion ($12 billion) offer next month. On that score, the pension fund’s intervention may frighten the deal to death. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jason Reed, AustralianSuper, Antony Currie, Peter Thal Larsen, Thomas Shum Organizations: REUTERS, Rights, Reuters, Asset Management, MidOcean Energy, Origin Energy, X, Vodafone, Thomson Locations: Melbourne, Australia, –, Brookfield, MidOcean, Spain

☆ Kimberly García: Peruvian racewalker has world record taken away after course was measured incorrectly
▼ + stars: | 2023-10-30 | by ( Samuel Joseph | ) edition.cnn.com time to read: +3 min

CNN —It appeared that Kimberly García of Team Peru had absolutely smashed a world record in the 20km racewalk event at the 2023 Pan American games – until it was revealed that the course had been measured incorrectly. Andy Lyons/Getty ImagesThe corporation acknowledged that it hired Mr. Ithurralde, but only after he was appointed for duty by the APA. The final classification of the results still stands, meaning that García and her fellow competitors are permitted to keep their medals. Ranking points used for qualification for the 2024 Paris Olympics are handed out based on race times and finishing position – which the athletes who participated in Sunday’s race will now not receive. “I have never seen anything like that before,” Canada’s Evan Dunfee, who competed in the men’s race, told Reuters.

Persons: Kimberly García, García, China’s Yang Jiayu, Glenda Morejón, García’s, Evelyn Inga, Marcelo Ithurralde, Andy Lyons, Ithurralde, “, ” Canada’s Evan Dunfee, “ We’ve, “ It’s, that’s, ” Organizations: CNN, Team Peru, Pan, Association of Pan American, “, Association of Pan American Athletics, APA, Getty, Reuters, ” Reuters Locations: Ecuador, Santiago , Chile, Santiago, Parque O’Higgins, Paris

☆ Garcia golden after Pan Am Games race walk comes up short
▼ + stars: | 2023-10-29 | by ( Steve Keating | ) www.reuters.com time to read: +2 min

SANTIAGO, Oct 29 (Reuters) - Peru's Kimberly Garcia won gold in the Pan American Games women's 20 kilometre race walk on Sunday but her time was voided after it was discovered the course was several kilometres short. Ecuador's Glenda Morejon took silver and Peru's Evelyn Inga bronze after completing a route which athletes believe was about 3km short. With women's event completed and the men's race about to get underway organisers delayed the start for over an hour to quickly remeasure the route to the official distance. Ecuador's Alexander Hurtado would win the men's gold in 1:19.20 just four seconds ahead of world championship bronze medallist Caio Bonfim of Brazil. "The expert commissioned by APA, Mr. Marcelo Ithurralde, did not take accurate measurements of the route the athletes took during the race.

Persons: SANTIAGO, Peru's Kimberly Garcia, Garcia, Ecuador's Glenda Morejon, Evelyn Inga bronze, Ecuador's Alexander Hurtado, Caio Bonfim, Marcelo Ithurralde, Steve Keating Organizations: Pan American, Lima Pan Am, Pan American Athletics Association, APA, Pan American Sport Organisation, Thomson Locations: Lima, Brazil, Parque O'Higgins, Santiago

REUTERS/Phil Noble/File Photo Acquire Licensing RightsFRANKFURT/MUNICH, Oct 26 (Reuters) - German technology groups have warned they are being hit by delays in getting China-bound exports through customs, following the introduction of a German government strategy to reduce economic dependence on demand from China. German chip-making kit supplier Suess MicroTec (SMHNn.DE) late on Wednesday cut its sales forecasts for the second time in three months, blaming tightened controls for exports to China. German customs and the Federal Office for Economic Affairs and Export Control (BAFA) did not immediately respond to a request for comment. Lobby group Asia-Pacific Committee of German Business (APA) told Reuters the BAFA office was appearing to scrutinise export requests more closely or escalate requests to the economy ministry more often. Still, the German chamber of commerce said the political environment was hobbling exports to China.

Persons: Phil Noble, Suess, Friedolin Strack, Burkhardt Frick, Martin Wansleben, Alexander Huebner, Rene Wagner, Christian Kraemer, Thomas Escritt, Anneli, Ludwig Burger, David Holmes Organizations: REUTERS, Federal Office, Economic Affairs, Export Control, Pacific Committee, German Business, Reuters, Thomson Locations: Hamburg, Germany, FRANKFURT, MUNICH, China, Asia, Munich, Berlin, Duesseldorf, Frankfurt

☆ What's behind Exxon's mega-merger and the stocks that could be next
▼ + stars: | 2023-10-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

Here's a look at what Exxon is getting in Pioneer and how Wall Street is reacting to the deal. Piper Sandler analyst Ryan Todd also pointed to Chevron as a company that could feel added pressure from Exxon's acquisition of Pioneer. Exxon's Denbury deal, for example, seeks to capitalize on a carbon capture, utilization, and storage (CCUS) company on the Gulf Coast and Rocky Mountain regions. What it means for Exxon's stock Piper Sandler's Todd maintained his overweight rating on Exxon on Wednesday and praised the Pioneer deal. However, Exxon's stock was down 3% in early trading Wednesday, while Pioneer rose just 1%, suggesting others are less sure.

Persons: Warren Buffett, Darren Woods, John Silverstein, Woods, We're, Biraj Borkhataria, Piper Sandler, Ryan Todd, Exxon's, Piper Sandler's Todd, RBC's, Borkhataria, — CNBC's Michael Bloom Organizations: Exxon Mobil, Natural Resources, Exxon, Mobil, Denbury, Occidental Petroleum, UBS, Pioneer, EOG, APA Corp, RBC Capital Markets, Chevron, CVX, RBC Locations: United States, West Texas, New Mexico, Midland, Gulf

GRANADA, Spain, Oct 5 (Reuters) - European leaders are expected to assure Ukrainian President Volodymyr Zelenskiy of long-term support on Thursday after U.S. President Joe Biden voiced fears that Republican infighting in Congress could hurt American policy on continuing aid to Kyiv. Zelenskiy is expected to attend a summit in the Spanish city of Granada of the European Political Community - a forum to foster cooperation among more than 40 countries established last year following Russia's invasion of Ukraine. In Slovakia, former prime minister Robert Fico's party came first in a general election at the weekend after pledging to halt military aid to Ukraine. In Poland, Prime Minister Mateusz Morawiecki said last month his country was no longer arming Ukraine and was focusing on rebuilding its own weapon stocks. Armenian Prime Minister Nikol Pashinyan is expected to attend the summit and European officials said they were keen to find ways to help his government cope with the immediate humanitarian crisis and provide political and economic support.

Persons: Volodymyr Zelenskiy, Joe Biden, Zelenskiy, Emmanuel Macron, Olaf Scholz, Rishi Sunak, Democrat Biden, Biden, Robert Fico's, Mateusz Morawiecki, Scholz, Ilham Aliyev, Macron, Charles Michel, Nikol Pashinyan, Andrew Gray, Andreas Rinke, Grant McCool Organizations: Political, British, U.S, Republican, Democrat, Senate, European Union, NATO, Kyiv, European, EU, Baku, Thomson Locations: GRANADA, Spain, Kyiv, Zelenskiy, Spanish, Granada, Ukraine, Europe, U.S, Slovakia, Poland, BALKANS, Azerbaijan, Armenia, Serbia, Kosovo, Nagorno, Karabakh, Berlin

☆ Goldman analysts say these stocks have the most downside potential
▼ + stars: | 2023-10-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Western Digital and Intel are up by double digits in 2023, but Goldman Sachs says these shares may see sharp declines. But even given this optimism, Goldman believes some stocks are bound to fall. In a recent note, the firm detailed several stocks that have the most downside potential based on Goldman's respective target prices. This summer, Western Digital issued weak guidance for its fiscal first quarter, calling for a loss ranging between $2.10 and $1.80 per share, excluding items. The firm sees a descent of more than 14% for the lodging stock, a sharp turn from its 49% year-to-date gain.

Persons: Goldman Sachs, David Kostin, Goldman, FactSet, Justin Patterson, Northrop, — CNBC's Michael Bloom Organizations: Western Digital, Intel, Chief, KeyBanc, Northrop Grumman, APA, Hormel Locations: Airbnb

☆ Four Karabakh leaders held in Azerbaijan, three more reach Armenia - agencies
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

However, three other former leaders of Karabakh have arrived safely in Armenia, the Armenian state news agency Armenpress quoted one of the three as saying. Almost all the 120,000 or so inhabitants of Karabakh have since fled to Armenia, fearing for their safety. However, former state minister Artur Arutyunyan, ex-interior minister Karen Sarkisyan and the former head of Karabakh's security service, Ararat Melkunyan, all entered Armenia on Tuesday, Artur Arutyunyan said, according to Armenpress. Karabakh is viewed internationally as part of Azerbaijan but had been run as a breakaway ethnic Armenian statelet since the 1990s following the collapse of the Soviet Union. Reporting by Reuters; Writing by Kevin Liffey; Editing by Alison Williams and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Aziz Karimov, Armenpress, Ruben Vardanyan, Levon Mnatsakanyan, Arkady Gukasyan, Bako, Araik, David Ishkhanyan, Artur Arutyunyan, Karen Sarkisyan, Kevin Liffey, Alison Williams, Gareth Jones Organizations: REUTERS, Azerbaijan's State Security Service, Press Agency, Soviet Union, Reuters, Thomson Locations: Stepanakert, Azerbaijan, Nagorno, Karabakh, Azerbaijan's, Baku, Armenia, Ararat Melkunyan, Armenpress, Soviet

Yes to life" take part in a anti-lithium protest in Covas do Barroso, Portugal, August 15, 2023. With 60,000 tonnes of known reserves, Portugal is already Europe's biggest producer of lithium, traditionally mined for ceramics. Referring to the Barroso project and another in France, he said it would be "a disaster if either ... doesn't succeed". But with only 15 of 916 submissions in a public consultation supporting the project, Savannah faces a struggle to win over locals who have said they will fight it and the APA in court. "Politicians listen to those who shout loudest and have most money - and that's the mining industry," she said.

Persons: Catarina Demony, Maria Loureiro, Loureiro, Barroso, Martin Jackson, , Savannah's, Michael Schmidt, doesn't, Schmidt, Nelson Gomes, Greta Thunberg, Karin Kvarfordt Niia, LKAB's, Anders Lindberg, UDCB's Catarina Alves Scarrott, Aida Fernandes, Barroso's, Dale Ferguson, Ferguson, Emanuel Proenca, Teresa Camille, Gunilla Hogberg Bjorck, Miguel Pereira, Covas do Barroso, Pietro Lombardi, Simon Johnson, Aislinn Laing, Catherine Evans Organizations: REUTERS, Savannah Resources, DO BARROSO, EU, Agriculture Organization, CRU, APA, State, Barroso, Reuters, UDCB, Thomson Locations: Covas do Barroso, Portugal, Barroso, China, London, Savannah, Europe, France, Kiruna, Sweden's, Montalegre, Scarrott, Portuguese, EUROPE, Chile, Covas, Karr, Covas do, Madrid, Stockholm

The groups argued that banks cannot properly respond to the proposal, which would require lenders to hold more cash to absorb losses, without that analysis. The Fed drafted the rules with the Federal Deposit Insurance Corp (FDIC) and Office of the Comptroller of the Currency (OCC). The "Basel Endgame" proposal implements international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis. The U.S. central bank has estimated it will increase industry capital requirements by $170 billion. "These capital rules will have an impact on economic growth and that will affect large businesses and small businesses and their access to capital."

Persons: Rick Wilking, Goldman Sachs, Morgan Stanley, Banks, David Solomon, Jamie Dimon, Morgan Stanley's, Dan Simkowitz, Pete Schroeder, Saeed Azhar, Lananh Nguyen, Tatiana Bautzer, Michelle Price, Paul Simao, Deepa Babington Organizations: Deposit Insurance Corporation, REUTERS, Rights, Federal Reserve, JPMorgan Chase, Citigroup, APA, Fed, Federal Deposit Insurance Corp, Currency, OCC, Banking, Reuters, JPMorgan, FDIC, Republican, Financial, Bank Policy Institute, American Bankers Association, Financial Services, Institute of International Bankers, Securities Industry, Financial Markets Association, Chamber of Commerce, Thomson Locations: Westminster , Colorado, U.S, Washington

☆ Companies use AI to monitor workers—45% of employees say it has a negative effect on their mental health
▼ + stars: | 2023-09-08 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

As companies implement return-to-office plans, employers are increasingly interested in utilizing artificial intelligence, not to replace workers, but to watch them. Fifty-one percent say they are aware that their employer uses technology to monitor them while they are working, according to data from the American Psychological Association. Knowing they are being watched has had negative psychological effects. Almost one-third, 32%, of employees who know their bosses are using technology to monitor them reported their mental health as fair or poor, according to data from the APA. Almost half, 45%, of those being monitored say their workplaces have a negative effect on their mental health, versus the 29% of those not being monitored.

Organizations: American Psychological Association, APA

For investors looking to rake in profit from the recent oil rally, here are some companies that are poised to benefit off of higher crude prices. Higher oil prices could add to inflationary pressure and feed central bankers' decisions on interest rates. Higher correlation between oil prices means good news for some companies, however. The 10 most positively correlated stocks to oil are energy names, which tend to rise when oil prices get a boost. Molson and Monster have slipped 5.6% and 2.2%, respectively, during the current quarter, while PepsiCo is off more than 5%.

Persons: Brent, WTI, Russell, Molson Coors Organizations: West Texas, CNBC, Oil, Diamondback Energy, Devon Energy, APA, Diamondback, Halliburton, Insurance, CCC Intelligent Solutions Holdings, . Beverage, Molson, Monster, PepsiCo, Bank of Canada, Manhattan Associates, Cadence Design Systems, chocolatier Hershey Locations: Saudi Arabia, Russia, Devon, American

☆ Final Trade: APA, SLB, TLT, RIVN
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trade: APA, SLB, TLT, RIVNThe final trades of the day with the Fast Money traders.

Organizations: APA, Fast Money

☆ 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

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