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☆ US shale's muted reply to OPEC oil cuts to limit supply, executive says
▼ + stars: | 2023-06-21 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

U.S. energy firms have cut domestic oil and gas drilling activity to the lowest level since April 2022 with declines from Texas to Pennsylvania. Analysts expect further cuts this year with oil and gas prices off from last year's strong levels. "We are more constructive on where oil prices could go." Global benchmark Brent crude was trading at $77.10, while U.S. natural gas prices were trading around $2.58 per million British thermal units. It expects to flatten drilling activity there and turn more to Ohio's Utica and Wyoming's Powder River Basin, he added.

Persons: Lloyd Helms, Morgan, Helms, Arathy Somasekhar, Matthew Lewis Organizations: Global, Brent, Organization of, Petroleum, U.S . Energy Information Administration, Thomson Locations: ., Texas, Pennsylvania, U.S, Saudi Arabia, New Mexico, Utica, Houston

[1/2] Denmark's Prime Minister and head of the Social Democrats Mette Frederiksen speaks on the Workers' International Day at Arbejdermuseet (The Workers Museum) in Copenhagen, Denmark, May 1, 2023. "There is great respect in Europe for the work she has done as prime minister and for the person she is in international cooperation," he said. Frederiksen, a career politician who is also head of the Social Democratic Party, became the youngest-ever Danish prime minister in 2019. Many see her as too dominant and hungry for power," former Danish defence and justice minister Hans Engell told Reuters. When former U.S. President Donald Trump in 2019 proposed buying Greenland, a sovereign territory of the Kingdom of Denmark, Frederiksen dismissed the offer as "absurd".

Persons: Mette Frederiksen, Ritzau Scanpix, Emil Nicolai Helms, Frederiksen, Biden, Monday Frederiksen, Joe Biden, Jens Stoltenberg, Jonas Gahr Store, Jacob Kaarsbo, Hans Engell, Donald Trump, Tayyip Erdogan, Viktor Orban, Engell, Jacob Gronholt, Pedersen, Louise Breusch Rasmussen, Sharon Singleton Organizations: Denmark's, Social, Workers, The Workers Museum, REUTERS, NATO, U.S, Atlantic Treaty Organization, Social Democratic Party, Reuters, Hungary's, Thomson Locations: Copenhagen, Denmark, Ukraine, COPENHAGEN, Washington, NATO, Russia, Europe, Nord, Greenland, Kingdom of Denmark

☆ Fact Check-The Progress Pride Flag adds representation for transgender and people of color to the rainbow
▼ + stars: | 2023-05-31 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

The Progress Pride Flag does not include representation for people attracted to minors, contrary to harmful misinformation posts on social media. Other posts also falsely link the transgender flag to a flag for “Minor Attracted Persons,” or MAPs (here), (here). They have been added to the traditional rainbow Pride flag alongside black and brown into what is now known as the Progress Pride Flag. The white, pink and light blue were first used in the Transgender Pride Flag designed by Monica Helms in 1999 (here). The Progress Pride Flag does not represent “Minor Attracted Persons.” Light blue, pink and white represent the transgender flag.

Persons: “ Minor, Daniel Quasar, Monica Helms, Read Organizations: “, Philadelphia Pride, AFP, Reuters

☆ Facebook-Giphy sale shows how fear of regulators is slowing M&A market
▼ + stars: | 2023-05-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Instagram chief Adam Mosseri touted Giphy's "amazing team" and "expressive" userbase, and stressed Giphy's user data was "not the motivation." The sale was forced by the U.K.'s antitrust regulator, which ruled Meta's acquisition posed a risk to the social media and advertising markets. Jonathan Kanter, who helms the Department of Justice's Antitrust Unit, and Lina Khan, the Federal Trade Commission's chair, have been given wide latitude by President Joe Biden to pursue potentially anticompetitive behavior. Prior to his DOJ posting, Kanter worked in private practice, advising directors and executives on potential deals and attendant regulatory pitfalls. Van Grack, the former chief of the DOJ's Foreign Agent Registration Act unit, noted regulatory scrutiny was increasing for years prior to the current administration.

☆ CNN is axing Laura Coates' 11 p.m. anchor slot to save on costs, according to sources, and insiders are concerned about on-air representation
▼ + stars: | 2023-04-18 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +6 min

CNN is still shifting its late night lineup, and Laura Coates will no longer anchor solo at 11 p.m.Coates is said to be "stunned" and "disappointed" by losing the opportunity. On paper, Coates would seem like the ideal figure to fill the network's 11 p.m. slot, particularly as CNN already shared a press release about her appointment to the role in January. CNN and news industry insiders who commented for this story spoke on the condition of anonymity because they're not authorized to speak to the press. "They pulled her off to save money," said one person familiar with internal conversations at CNN. The network's only Black solo anchors now are Abby Phillip, who helms the high-profile "Inside Politics Sunday," and Fredricka Whitfield, who also hosts a weekend show.

☆ High Philippine inflation dents Marcos' approval ratings
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Philippines President Ferdinand "Bongbong" Marcos Jr. delivers a speech on the 126th founding anniversary of the Philippines army at Fort Bonifacio, in Taguig, Philippines, March 22, 2023. REUTERS/Eloisa Lopez/File PhotoMANILA, April 12 (Reuters) - Philippine President Ferdinand Marcos Jr's approval ratings edged lower due to public dissatisfaction over his government's handling of inflation, but he remains popular, an opinion poll showed on Wednesday. Marcos' approval ratings were slightly lower than the 83% that his vice president, Sara Duterte, got in March. Duterte, daughter of former president Rodrigo Duterte, currently serves as education minister, while Marcos helms the agriculture department. In the same survey, 61% percent of respondents approved of Marcos' government in terms of "defending the integrity of Philippine territory against foreigners", up from 58% in November.

☆ Missouri officials refuse to work with the Bureau of Alcohol, Tobacco and Firearms, saying all federal 'so-called' gun laws are unconstitutional
▼ + stars: | 2023-04-09 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Officials in Camden County, Missouri are refusing to cooperate with the ATF, according to local reports. Officials cited a since-struck-down state law that kept police from enforcing federal gun laws. Six top elected officials in Camden County signed a letter to the ATF saying as much, according to NPR affiliate KCUR 89.3. Last month, a federal judge struck down the 2021 law, which prohibited local police from enforcing federal gun laws, calling it "invalid, null, void, and of no effect." "Any and all federal firearms laws, so-called laws, in my opinion, and many others' opinion, are unconstitutional," Skelton told KCUR.

☆ A recession could be 'deeper than expected' this year, says analyst—here's what it means for your money
▼ + stars: | 2023-02-18 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

Raheel Siddiqui, senior research analyst at Neuberger Berman, told CNBC Make It a recession in 2023 "will be more severe than expected." The labor market is strong, too, with a tiny unemployment rate of 3.4%. "In a plain-vanilla recession, earnings go down 20%. And when economic downturns occur at the same time as deflation, you can expect a larger-than-normal drop in earnings, Siddiqui said. The bottom quartile is entering a recession," Siddiqui said.

☆ Inside JPMorgan massive tech org: 7 key execs helping global CIO Lori Beer manage the firm's $14 billion tech budget.
▼ + stars: | 2023-01-27 | by ( Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +2 min

JPMorgan's tech organization is led by nine-year bank vet Lori Beer, its global CIO. As the biggest US bank by assets, JPMorgan's sprawling $14.1 billion tech budget can be hard to comprehend. The size and scale of JPMorgan's tech spending can seem unfathomable to a small startup or everyday consumer. Lori Beer, JPMorgan's chief information officer, oversees that sprawling tech budget, which grew by 20% from 2019 to 2022. Insider mapped out the key tech executives at JPMorgan who report to Beer and help her lead the bank's massive tech org.

Amy Edwards demonstrates against the live entertainment ticket industry outside the U.S. Capitol January 24, 2023 in Washington, DC. The Senate Judiciary Committee slammed concert giant Live Nation on Tuesday, calling on activists and artists to speak to competition in the ticketing industry following a botched sale of Taylor Swift tickets in November. Opponents intensified their complaints in November when presale tickets for Swift's Eras Tour were plagued by disruptions and slow queues. Live Nation was supposed to open up sales for 1.5 million verified fans ahead of general public ticket sales. The Justice Department has opened an antitrust investigation into Live Nation's practices, however, that probe predates the Swift ticket sale fiasco.

☆ Judge Orders Cruise Companies to Pay More Than $436 Million for Docking at Seized Terminal in Cuba
▼ + stars: | 2023-01-07 | by ( Mengqi Sun | ) www.wsj.com time to read: +3 min

Four major cruise lines say they will appeal a recent ruling that would force them to pay roughly $436 million in total damages to a company that owned a port terminal in Havana prior to the Cuban Revolution. The ruling in favor of Havana Docks Corp., owner of the Havana Cruise Port Terminal before the Cuban revolution, marked an important milestone for Cuban-Americans seeking compensation for property confiscated by the Castro regime. Mickael Behn, a descendant of the original owners of Havana Docks. The verdict in favor of Havana Docks is the first from a district court, the data shows. The ruling comes after the judge in the case, Beth Bloom, signaled last March that she agreed that the use of the Cuban port constituted trafficking in confiscated property owned by Havana Docks.

☆ Meet the executive in charge of Bank of America's $15 billion initiative to give no-down-payment mortgages to disenfranchised homebuyers
▼ + stars: | 2023-01-04 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

She leads the neighborhood and community lending program for the second largest US bank. It's her job: Barkley helms a Bank of America lending program aimed at increasing homeownership in multicultural and historically underserved communities. In fact, she says the rationale for the bank's $15 billion Community Homeownership Commitment seems to follow her everywhere she goes in the Dallas metro area, where she is based. A feature of that commitment is a mortgage program that sets aside requirements that often prove to be obstacles to borrowers trying to get traditional loans. When houses are refurbished, the rest of the community will hopefully see the benefits that come from homeownership, she said.

☆ Cruise lines to appeal U.S court's big award to owner of Havana dock
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] Royal Caribbean logo is seen displayed in this illustration taken, May 3, 2022. U.S. District Judge Beth Bloom in Miami ruled last week to award a total of $440 million to the plaintiff, Delaware-registered Havana Docks Corp; registered to two U.S. citizens who claim to be descendants of the original owners of the Havana Cruise Port Terminal. It comes after Bloom ruled in March that the use of the port constituted trafficking in confiscated property owned by Havana Docks Corp. Royal Caribbean in a comment to Reuters said it "disagree(d) with the ruling and will appeal. Havana Docks sued the cruise lines under the Helms-Burton Act, which allows U.S. nationals to sue over use of property seized in Cuba after 1959.

☆ U.S. judge orders Norwegian Cruise Line to pay $110 mln for use of Cuba port
▼ + stars: | 2022-12-30 | by ( Brian Ellsworth | ) www.reuters.com time to read: +1 min

MIAMI, Dec 30 (Reuters) - Norwegian Cruise Line (NCLH.N) must pay $110 million in damages for use of a port that Cuba's government confiscated in 1960, according to a ruling by a U.S. judge released on Friday. The decision by U.S. District Judge Beth Bloom in Miami follows her March ruling that the use of the Havana Cruise Port Terminal constituted trafficking in confiscated property owned by the plaintiff, Delaware-registered Havana Docks Corp."Judgment is entered in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd," reads the decision. "Plaintiff is awarded $109,848,747.87 in damages," it says, adding that Norwegian should also pay an additional $3 million in legal fees and costs. Norwegian Cruise Line did not immediately respond to a request for comment. Havana Docks had also sued cruise lines Carnival (CCL.N), Royal Caribbean (RCL.N) and MSC under the Helms-Burton Act, which allows U.S. nationals to sue over use of property seized in Cuba during the Cold War era.

☆ Aldi customers are scrambling to buy a $13 dress. That's the power of its 'treasure hunt' Aldi Deals aisle.
▼ + stars: | 2022-12-16 | by ( Mary Meisenzahl | ) www.businessinsider.com time to read: +4 min

A limited-edition Aldi dress gained traction in a Facebook group of 1.5 million members. The dress was a feature in the Aldi Finds aisle, which is responsible for about 20% of total sales. The wrap-style dress from the brand Serra was featured in Aldi's weekly "Aldi Finds" advertisement for the week of November 9. Aldi's "Aldi Finds" aisle is a grab bag of products that changes throughout the year. Aldi did not respond to Insider's request for comment, but as Aldi plans to continue its rapid expansion, its Aldi Finds aisle likely will remain a key part of future store designs.

☆ Ryan Seacrest's marketing agency has hired a top NBC News journalist to lead its push into brand storytelling
▼ + stars: | 2022-12-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Ryan Seacrest's marketing agency, Civic, has made a big hire to expand its brand storytelling work. The 23-year-old Civic, whose clients include Amazon and Ford, is focused on making journalistic-style content for brands. Ryan Seacrest's marketing agency, Civic, has made a big hire to expand its brand storytelling work. "No one wants branded content," Civic cofounder and co-CEO Stuart Ruderfer told Insider. Fully 86% of companies use digital content marketing, according to an Insider Intelligence estimate.

U.S. shale production costs are soaring and there is no sign that tight-fisted investors will change their demands for returns rather than investment in expanding drilling. At Helmerich & Payne (HP.N), one of the largest drilling contractors, its R&D budget will rise only $1 million, from 2022's $27 million. The U.S. government expects overall oil production to reach a new peak next year, but it has several times this year cut its forecasts. Shale production declines rapidly after peaking compared to conventional oil wells, falling about 50% after the first year. Lower production rates are "a longer-term prospect," said Mike Oestmann, chief executive of shale producer Tall City Exploration.

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☆ Bono’s new book is more than a rock star memoir. It’s also a powerful tribute to America
▼ + stars: | 2022-11-08 | by ( John Blake | ) edition.cnn.com time to read: +12 min

Born Paul David Hewson in Dublin, Ireland, Bono is a global rock star, an activist and an entrepreneur who is currently touring the US to promote his memoir. Bono’s book, though, is more than a rock star’s memoir. A belief in America as an idea, not a religionAs any casual fan of U2 knows, U2 has long had a close relationship with the US. Martin Luther King Jr., with their song, “Pride (In The Name of Love).”In “Surrender,” Bono pays tribute to America itself. “The search for common ground starts with a search for higher ground,” Bono writes in the memoir.

☆ Shale oil producer Coterra trims reserves estimates, shares sink
▼ + stars: | 2022-11-04 | by ( Liz Hampton | ) www.reuters.com time to read: +2 min

Companies Coterra Energy Inc FollowNov 4 (Reuters) - Shares of shale oil and gas producer Coterra Energy fell as much as 8% on Friday after the company cut its estimate of proven oil reserves, a key measure of future production growth. Coterra, which formed a year ago through the merger of Cimarex Energy and Cabot Oil & Gas, said proved reserves on its books will drop roughly 15% to 20% year-over-year at December 31, 2022. The decline was driven by a roughly 32% to 36% decline to gas reserves in its Marcellus shale properties in the Eastern United States that came with the Cabot acquisition. Rival U.S. shale oil producer EOG Resources said oilfield costs could increase by 10% next year, on top of a 7% increase in 2022, as inflation continues to snarl the energy industry. EOG, which this week announced it had extended operations into Ohio, said it will maintain low single-digit oil production growth next year.

Wall Street banks committed to helping Elon Musk finance his $44 billion takeover of Twitter stand to $500 million in the process, by some estimates. One of Musk's banks has even told its staff to expect a borrowing notice from Musk by today, Bloomberg reported. But don't feel sorry for the banks just yet — a group that comprises Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen. The group consists of Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen. Birchall's eldest son Benjamin even interned at Morgan Stanley for his ex-colleagues Frank Malone and Jon Neuhaus in the summer of 2021.

☆ Wall Street's rising stars admit their biggest career mistakes — from missing out on lucrative bets to taking too much on — and what they learned from them
▼ + stars: | 2022-10-24 | by ( Alex Morrell | Alyson Velati | Asia Martin | ) www.businessinsider.com time to read: +17 min

Vinay Trivedi, a vice president at General Atlantic focusing on the technology sector. I don't think we necessarily transitioned fast enough to how people learn if we're only doing audio from home. - David Israel, 27, vice president at Credit SuisseAngel Pu Shum is a principal within Warburg Pincus's technology group. -Allison Boxer, 29, senior vice president and economist at PIMCONoah Zerance, a vice president with Bank of America's global sustainable-finance group. and the response would be, 'Well, we don't know how we do it yet.

☆ Opinion | Abortion Is Legal in Ethiopia. But Half of These Clinics Won’t Provide Them.
▼ + stars: | 2022-10-17 | by ( Anu Kumar | ) www.nytimes.com time to read: +12 min

When Congress passed the Helms Amendment, only six of those countries allowed abortion in circumstances beyond saving a woman’s life. And every year, more than 16,000 of the women and girls who have received these unsafe abortions die from more serious complications. President Biden also has the power to mitigate some of the harms of the Helms Amendment. His administration could also ensure that clinics in countries where abortion is legal understand that U.S. rules allow them to offer abortion information and counseling. The Helms Amendment is an act of international interference and overreach, and it has to end.

☆ Nord Stream leaks caused by deliberate actions, Denmark's prime minister says
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Danish Minster of Defense Morten Boedskov, Prime Minister Mette Frederiksen, Climate Minister Dan Joergensen and Minister of Foreign Affairs Jeppe Kofod speak to the media about the three gas leaks on the Nord Stream gas pipelines in the Baltic Sea, in Copenhagen, Denmark September 27, 2022. Scanpix 2022/Emil Helms via REUTERSCOPENHAGEN, Sept 27 (Reuters) - Leaks detected in the Nord Stream gas pipelines clearly were caused by deliberate actions and could not have been a result of accidents, Denmark's Prime Minister Mette Frederiksen said on Tuesday. It was not an accident," Mette Frederiksen said at a press briefing in Copenhagen. The leaks, first reported on Monday, were in international waters but inside Denmark's and Sweden's exclusive economic zone. Danish authorities assess that the damage was caused by blasts, Energy Minister Dan Jorgensen said at the briefing.

☆ Student housing is one of the hottest real-estate investments right now. Here's how big investors like Blackstone and TPG are playing the market that just saw a record $6.1 billion of deals.
▼ + stars: | 2022-09-03 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +7 min

The big investors TPG and the Cardinal Group made a bet on student housing in fall 2020. Investing in student housing seemed like an uncertain wager at best; no one knew when life would go back to normal. That's created an opportunity in niche asset classes, such as student housing, he added. The trend is not likely to end soon, with the cost of college housing on the same upward trajectory as tuition. With students, international and domestic, back at school again, student housing is hotter than ever.

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