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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economy will continue to see higher oil prices, says Tortoise's Rob ThummelRob Thummel, Tortoise Ecofin senior portfolio manager, joins 'Power Lunch' to discuss oil prices sliding and what it means for the energy sector.
Persons: Rob Thummel Rob Thummel, Tortoise
CNN —The Supreme Court returns to Washington to face a new term and the fresh reality that critics increasingly view the court as a political body. Earlier this year, Roberts declined an invitation to appear before the Democratic-led Senate Judiciary Committee to discuss Supreme Court ethics, citing separation of powers concerns. Even if he did believe a formal ethics code is necessary, it’s unclear whether he would need a unanimous vote to move forward. Instead, they say, critics of the court are manufacturing a controversy to delegitimize the institution and staunch the flow of conservative opinions. Last week, she told an audience in Indiana that she thought it would be a “good” idea if the court were to adapt the ethics code used by lower court justices to fit the Supreme Court.
Persons: Donald Trump’s, Roe, Wade, John Roberts, Roberts, Joe Biden’s, , Justice Elena Kagan, Sonia Sotomayor, Ketanji Brown Jackson, , ” Kagan, Clarence Thomas, Samuel Alito, ” Cate Stetson, Hogan Lovells, Dick Durbin, Durbin, recuses, Carrie Severino, Alito, forthrightly, ” Alito, “ I’ve, Elena Kagan, Amy Coney Barrett, Brett Kavanaugh Organizations: CNN, Democratic, Conservative, Cato Institute, Democrat, Judicial, Crisis Network Locations: Washington, Congress, Indiana, Lake Geneva , Wisconsin, Ohio
ENGLE, N.M. (AP) — While the average lifespan of North America's largest and most rare tortoise species is unknown, biologists have said it could span upward of a century. The “safe harbor agreement” will facilitate the release of captive tortoises on the Armendaris Ranch to establish a free-ranging population. The tortoise is just the latest example of a growing effort to find new homes for endangered species as climate change and other threats push them from their historic habitats. Absent a willingness by wildlife managers to think more broadly, he said, species like the Bolson tortoise could have a bleak future. That work will include getting state and federal permits to release tortoises outside of the enclosures on Turner lands.
Persons: ENGLE, Ted Turner's, Martha Williams, Shawn Sartorius, ” Sartorius, It's, it's, Mike Phillips, Phillips, , can’t, ” Phillips Organizations: Fund, Fish, Wildlife Service, Fish and Wildlife Service, Turner, Species Fund, Southwestern, U.S . Fish, Wildlife Locations: N.M, America's, New Mexico, U.S, Southwest, Mexico, United States, Texas, Oklahoma, Southwestern U.S, Carlsbad, Turner
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDecarbonizing has tremendous growth potential for energy infrastructure, says Tortoise's Rob ThummelRob Thummel, Tortoise Ecofin senior portfolio manager, joins 'Squawk on the Street' to discuss rising energy oil prices due to the output cut extension, oil prices influencing energy investment decisions, and companies building carbon capture infrastructure.
Persons: Decarbonizing, Rob Thummel Rob Thummel, Tortoise
CNN —A 100-year-old African tortoise named Biscuit has been reunited with his family after being rescued from a canal, according to the Parish of Ascension in Louisiana. Animal control officers Curt Trepagnier and Isreal Millet “humanely contained, loaded into the truck, and safely transported” Biscuit to Cara’s House-Ascension Parish Animal Shelter, the post detailed. Biscuit was rescued by Animal Control in Ascension Parish, Louisiana. “We are happy to report that Biscuit has been reunited with his family! A video on the shelter’s Facebook page showed the centenarian tortoise slowly walking in front of his owner toward Howard’s pickup truck.
Persons: Curt Trepagnier, Isreal Millet “, Lamoine Howard, , Howard, ” Howard, Organizations: CNN, Cara’s, Animal Control, ” CNN Locations: Ascension, Louisiana, New, Baton Rouge and New Orleans, Ascension Parish , Louisiana
Two British media figures have been linked with the top job at CNN, Semafor reported. Mark Thompson, the former New York Times Company CEO, is the "leading candidate," per the outlet. Not one, but two, British media figures have been linked with the role, Semafor first reported. Before an eight-year stint as The New York Times boss, he was director-general of the BBC. The decision to launch CNN Max comes about year after the company axed CNN+.
Persons: Semafor, Mark Thompson, James Harding, Chris Licht, Licht, Donald Trump, He'd, Jeff Zucker, Thompson, he'd, Semafor's Ben Smith, David Zaslav, Oli Scarff, Harding, WBD, CNN Max Organizations: CNN, New York Times Company, BBC News, Morning, The, Street Journal, New York Times, BBC, Financial Times, Washington DC, Max Locations: British, London, AFP, Asia, Washington
The protesters who had gathered on an arid patch of lawn in Rome’s central Piazza Venezia hailed from neighborhoods all around the capital, but they had one concern in common: saving the towering umbrella pine trees that for centuries have adorned the city’s low-slung skyline but are disappearing in distressing numbers. Celebrated in music and art, and admired by the ancient Romans, the trees are as much a part of the city’s identity as its human-made landmarks. “They are in the hearts, photographs and memories of everyone,” said Jacopa Stinchelli, who is helping lead the defense of the pines, which in recent years have taken a mangy turn. An infestation of a pernicious and invasive pest, an insect known as the pine tortoise scale, which sneaked into Italy about a decade ago, has killed many trees.
Persons: , Jacopa Stinchelli Organizations: Piazza Venezia Locations: Rome’s, Italy
CNN“The smoke started getting thicker and blacker,” Kaleiopu recalled. An emergency alert soon reached him by phone, urging Lahaina residents to flee: The smoke had given way to flames. Not far away on the ocean, boat captain Christina Lovitt soon found herself on a skiff, also trying to help. Stymied from anchoring by 70- to 80-mph gusts, they drifted and eventually were pulled onto a 120-foot boat, Lovitt recalled. Aguiran watched his parents’ house burn down, one of five family homes destroyed, Tacderan said, and among more than 270 structures declared impacted so far by the fire in Lahaina.
Persons: Phena Davis, , Dustin Kaleiopu, Hurricane, , ” Kaleiopu, Davis, Bryan Aguiran, ” Aguiran, Teri Lawrence, Lawrence, you’re, Christina Lovitt, ” Lovitt, Lovitt, who’d, Reza Danesh, ’ ”, Danesh, He’d, Tiffany Kidder Winn, Aguiran, Ella Sable Tacderan, Tacderan, ‘ You’ll, I’m, I’ve, grandpa, ” Davis, “ We’re Organizations: CNN, , Coast Guard, Hawaii Army National Guard, Hawaii National Guard, Reuters, MODO Mobile Locations: Lahaina, Maui, Kaanapali, Hawaiian, That’s, , , New York, Wailuku Maui, Huelo
CNN —Two men driving in Death Valley National Park on July 4 got lost and illegally drove off-road, the US National Park Service alleges, sending one man to the hospital with heat-related illness. “Death Valley is an awe-inspiring place that demands our utmost respect and preparedness,” Superintendent Mike Reynolds said in a statement. The pair walked about another mile to paved Badwater Road, where they walked an additional 12 miles (19 kilometers) north, the Park Service said. NPSDeath Valley must: Road mapThe Park Service reminds visitors that there is no cell service in most of the park, and GPS navigation can be unreliable in remote locations such as Death Valley. The Park Service said it’s safest to stay on paved roads during the summer heat.
Persons: Mike Reynolds, Organizations: CNN, National Park Service, NPS, GPS, Park Service, View, “ Vehicles, Service Locations: Death, Shoshone , California, Pahrump , Nevada, Alaska
It began Friday in the New York Mountains of California’s Mojave National Preserve and crossed state lines into Nevada on Sunday. The fire is burning through and threatening groves of Joshua trees – the branching, spiky plants of the Mojave Desert that can live more than 150 years. The Mojave National Preserve is a significant hotspot for biodiversity, with one conservationist calling it the “crown jewel” of the deserts of Southern California. But rain in the Mojave Desert, which is seasonal and scarce, “poses a unique challenge to firefighters,” the Mojave National Preserve said. They will be on the lookout for desert tortoises, making sure to avoid burrows and active individuals,” the Mojave National Preserve said.
Persons: Joshua, Joshua trees, Marc Peebles, Cody Hanford, , ” Hanford, David Swanson, ” Laura Cunningham, ” Cunningham Organizations: CNN, York, Land Trust, Getty, Mojave, KVVU, National Park Service, Park Service Mojave National, Firefighters, National Interagency Fire Center, Preserve, Locations: California, Nevada, New York, Southern California, Mexico, AFP, Cima
OAM, which declined to comment, will send out further correspondence about how the Odey European Inc fund will be restructured, the letter said. OAM reorganised many of its funds in June and Neave took over the flagship Odey European Inc fund, amid fears of an investor exodus following the allegations. Since then, Neave has reduced the size of the hedge fund's investments in stocks, bonds and, in June, sold out of its gold futures. The fund closed out its direct exposure to gold futures, the letter said. Odey European Inc has kept some exposure to commodities through long positions related to the crude and palm oil company stocks, the letter said.
Persons: Freddie Neave, Crispin Odey's, Crispin Odey, Odey, Neave, Leopalace, Nell Mackenzie, Amanda Cooper, Alexander Smith Organizations: Reuters, Odey Asset Management, Financial Times, Tortoise Media, Inc, United Rentals, Learning Technologies, Jadestone Energy, Thomson
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil prices likely to rise in light of undersupply in the second half of the year: Portfolio managerRob Thummel, managing director of Tortoise Ecofin, says U.S. oil production is unlikely to rise "as much as what everybody thinks."
Persons: Rob Thummel, Tortoise Ecofin Locations: U.S
REUTERS/Liliana SalgadoPHOENIX, July 21 (Reuters) - On Day 22 of temperatures in Phoenix exceeding 110 degrees Fahrenheit (43 Celsius), a Eurasian eagle owl enjoyed a prolonged shower on Friday while monkeys and horses ate icy treats, some laced with Gatorade. The Phoenix Zoo has come up with myriad ways to cool off animals in the historic record-breaking heat wave, including hose-downs, mister lines, cooling pads, ponds, mud water, fans and air-conditioned buildings. So this is one of the ways that we help them cool down in this heat," said zookeeper Leslie Lindholm. And over in Monkey Village, tiny squirrel monkeys pulled frozen treats out of buckets. Reporting by Liliana Salgado in Phoenix; Editing by Mary Milliken and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.
Persons: Archie, Liliana Salgado PHOENIX, Lizzie Newman, zookeeper Leslie Lindholm, Jake, zookeeper Jyl Purdy, Amy Dietz, Liliana Salgado, Mary Milliken, Rosalba O'Brien Organizations: Phoenix Zoo, REUTERS, Gatorade, The Phoenix, Thomson Locations: Arizona, U.S, Phoenix, Europe, Asia, Belgian, Monkey
UK is in danger of becoming the Nigeria of wind
  + stars: | 2023-07-20 | by ( George Hay | ) www.reuters.com   time to read: +3 min
LONDON, July 20 (Reuters Breakingviews) - Britain is supposed to be the Saudi Arabia of wind power. Vattenfall’s decision on Thursday to halt the 1.4 gigawatt (GW) Norfolk Boreas project is just the latest sign that Britain’s most appropriate fossil-fuel comparator may not be the biggest and most efficient producer. Vattenfall, a state-held Swedish power company, has gone cool for reasons that are well-discussed in the wind sector. The obvious move for UK Prime Minister Rishi Sunak would be to allow developers to charge more for power, to make up for higher costs. Follow @gfhay on TwitterCONTEXT NEWSVattenfall is stopping the development of its 1.4 gigawatt (GW) Norfolk Boreas offshore wind project off the coast of Britain, the state-owned Swedish utility said on July 20.
Persons: Boris Johnson’s, Vattenfall, Rishi Sunak, Liam Proud, Oliver Taslic Organizations: Reuters, Siemens, UK, FTI, Norfolk, Thomson Locations: Britain, Saudi Arabia, United Kingdom, Riyadh, Norfolk Boreas, Swedish, Norfolk, Orsted, Nigeria
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Persons: Dow Jones
UK lawmakers launch inquiry into sexism in finance
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +1 min
LONDON, July 14 (Reuters) - British lawmakers have launched a fresh inquiry into sexism in the country's finance industry, parliament's influential Treasury committee said in a statement on Friday. The inquiry will assess issues including progress made in removing gender pay gaps, how best to support diversity and combating sexual harassment and misogyny, the committee said. The move comes amid renewed scrutiny of sexual misconduct in finance, after hedge fund founder Crispin Odey was ousted from his firm in June after allegations of sexual misconduct jointly reported by the Financial Times and Tortoise Media. The average gender pay gap across 20 of the biggest finance employers was 30.1% in favour of men in 2022, a Reuters analysis in April showed, compared to the UK average of 8.3%. This is a subject of marked importance to our Committee and we look forward to beginning work on this important topic," said Harriett Baldwin, chair of the Treasury committee.
Persons: Crispin Odey, Odey, Harriett Baldwin, Iain Withers, Josie Kao Organizations: Financial Times, Tortoise Media, Treasury, Thomson
LONDON, July 3 (Reuters) - Odey Asset Management is in advanced talks to move its special situations fund managed by Adrian Courtenay to Green Ash Partners, said a letter to investors dated July 3. Green Ash Partners is a boutique investment manager based in Switzerland and the UK with over $1 billion in assets under management, according to its website. The discussions are subject to due diligence as well as board and regulatory approvals, the letter said. "Similar discussions are ongoing in relation to other funds managed by OAM LLP and we will provide further updates about all funds in due course," the letter said. Reporting by Nell Mackenzie; Editing by Chris Reese and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
Persons: Adrian Courtenay, Green, Crispin Odey, Odey, Nell Mackenzie, Chris Reese, Leslie Adler Organizations: Odey, Management, Green Ash Partners, redemptions, Financial Times, Tortoise Media, Thomson Locations: Switzerland
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeclines in inventory and undersupply will be a catalyst for oil this year, says Tortoise's ThummelRob Thummel, Tortoise Ecofin senior portfolio manager, joins 'Squawk on the Street' to discuss why energy is poised for a good second half of the year, how long it will take his thesis to work its way through the market, and more.
Persons: Tortoise's, Rob Thummel, Tortoise
July 2 (Reuters) - Barclays (BARC.L) is looking to terminate its corporate banking relationship with Odey Asset Management (OAM), the Financial Times reported on Sunday, predominantly due to sexual assault allegations against founder Crispin Odey. The British hedge fund has grappled with redemptions since the FT and Tortoise Media on June 8 jointly reported allegations by 13 women that Crispin Odey had sexually assaulted or harassed them over a 25-year period. OAM and Barclays did not immediately respond to a Reuters request for comment outside usual office hours. FT also reported earlier that the FCA had restricted the movement of cash and assets from OAM to restore order at the firm. Letters to OAM investors last week showed the manager has proposed to restructure two of its key funds as part of efforts to extract Crispin Odey from the business after the assault allegations.
Persons: Crispin Odey, Odey, AJ Bell, Hargreaves Lansdown, Goldman Sachs, Morgan Stanley, Rishabh, Kevin Liffey, David Holmes Organizations: Barclays, Odey Asset Management, Financial Times, redemptions, Tortoise Media, Sunday Barclays, Financial, Authority, FT, JPMorgan, Thomson Locations: British, Canada, Halifax, Bengaluru
June 30 (Reuters) - Odey Asset Management (OAM) has proposed to restructure two of its key funds, according to letters to investors reviewed by Reuters, as part of efforts to extract founder Crispin Odey from the business after several assault and harassment allegations surfaced against him. The London-based investment firm is planning to switch shareholders' investments in the OEI Mac and Odey European funds to two new funds, which would then be rehoused under a new firm, the letter added. Freddie Neave, who took over managing OEI Mac and Odey European from Crispin Odey three weeks ago, would run the new funds and leave to work at the new firm. "It is expected that Crispin Odey would not switch to the new fund and would remain in the existing fund," OAM said in both letters. The firm the alternative to this proposal would be to compulsorily redeem investors in the funds.
Persons: Crispin Odey, Freddie Neave, OEI, James Hanbury, Odey, Carolina Mandl, Juby Babu, Shweta Agarwal, Nick Zieminski Organizations: Odey, Management, Reuters, OEI Mac, Lancaster Investment Management, Financial Times, Tortoise Media, Thomson Locations: London, New York, Bengaluru
Now that they’re identified as Burmese peacock turtles, more research can begin. Other turtle species’ eggs, even in the Nilssonia genus, hatch after just two or three months. The total number of Burmese peacock turtles is unknown, but scientists suspect that their population may have declined by at least 80 percent over the past 90 years. While adult turtles are mostly invulnerable to predators, very few turtles survive from the egg and hatchling stages to adulthood, Dr. Platt said. That makes these Burmese peacock turtle babies all the more precious.
Persons: Zau Lunn, , Steven Platt, Platt, isn’t Organizations: Wildlife Conservation Society, International Union for Conservation
FALLING STARWhen Odey set up Odey Asset Management, it was in the afterglow of then British Prime Minister Margaret Thatcher's deregulation of the stock market in London's 1986 "Big Bang". Privately educated at the elite Harrow school, Odey left Oxford University and began his career in traditional asset management before launching Odey Asset Management. But fund performance at Odey Asset Management has been a rollercoaster, with Odey renowned for taking risks. He liked to say leverage was like a drug - once you experienced it, you could never live without it, one hedge fund manager said. Lawmakers on Britain's Treasury Select Committee have written to the FCA to question the regulator's supervision of Odey Asset Management and Odey.
Persons: Crispin Odey, Odey, Banks, Robert Sears, CIOs, Don Steinbrugge, Margaret Thatcher's, Egerton Capital, Marshall Wace, Winton, Kwasi Kwarteng, Maiya Keidan, Nell Mackenzie, Iain Withers, Lawrence White, Dhara Ranasinghe, Elisa Martinuzzi, Alex Richardson Organizations: TORONTO, Reuters, Odey Asset Management, FT, Tortoise Media, Odey, Management, Britain's Financial, Authority, Generation Partners, Odey's, HSBC, Inc, Wall Street, Agecroft Partners, British, Harrow, Oxford University, Conservative Party, Barclays, Peugeot, Hong Kong, Lawmakers, FCA, Thomson Locations: LONDON, City, London, Toronto
Slideshow ( 3 images )LONDON (Reuters) - Odey Asset Management is “in advanced discussions” to rehouse funds and transfer staff to other asset managers, it told investors in a letter on Thursday, after imposing exit curbs on key funds in the wake of fresh misconduct allegations against its founder. News of the talks comes in a week of upheaval for the firm after the Financial Times and Tortoise Media reported a raft of fresh allegations aganst Cripsin Odey, which triggered several major global banks who provided prime brokerage services to review their relationships with the firm. Odey has denied the allegations. A spokesperson for the firm declined further comment.
Persons: Cripsin, Odey Organizations: Odey, Financial Times, Tortoise Media
Here are some key facts about Odey, London-based OAM, the allegations, and their fallout:WHO ARE CRISPIN ODEY AND ODEY ASSET MANAGEMENT? Odey, 64, founded the asset management firm which bears his name in 1991. HOW BIG IS ODEY ASSET MANAGEMENT? Schroders and Canada Life last week moved to cut back their dealings with asset management businesses with links to Odey. It is looking increasingly unlikely, even though larger funds such as Odey Asset Management Group are made up of many funds with different trading strategies.
Persons: Crispin Odey, OAM, Odey, CRISPIN ODEY, Kwasi Kwarteng, Goldman Sachs, Morgan Stanley, James Hanbury, Hanbury, Peter Martin, Carolina Mandl, Nell Mackenzie, Elisa Martinuzzi, Dhara Ranasinghe, Alexander Smith Organizations: Odey, Management, Reuters, Financial Times, WHO, Asset Management, Conservative Party, Securities and Exchange Commission, Financial, Authority, Lawmakers, JPMorgan, UBS, CAN, Odey Asset Management, Inc, Carolina, Thomson Locations: London, Schroders, New York
A spokesperson for the hedge fund declined further comment on Thursday. Big banks typically agree terms with hedge funds that allow them to cut ties at short notice, five sources from prime brokerages and hedge funds told Reuters. Prime brokerages may now refine due diligence processes and perform more thorough background checks on hedge funds, said Jim Neumann, chief investment officer of Sussex Partners, which advises investors on how they give their money to hedge funds. But many of these agreements mainly focus on the financial viability of the hedge fund, two of the sources said. One hedge fund manager said he was asked in his due diligence with the bank if he was approved by the UK regulator, the Financial Conduct Authority.
Persons: Banks, Crispin Odey, Goldman Sachs, Morgan Stanley, MS.N, Odey, Epstein, Michael Oliver Weinberg, JPMorgan Chase, JPM.N, Jeffrey Epstein, Bill Hwang, brokerages, Jim Neumann, Neumann, Archegos, Erika Kelton, Phillips, Cohen, Nell Mackenzie, Kirstin Ridley, Carolina Mandl, Dhara Ranasinghe, Elisa Martinuzzi, Matthew Lewis Organizations: Wall, Odey, Management, Financial Times, Tortoise Media, JPMorgan, Odey Asset Management, Reuters, CMT, Archegos Capital Management, Sussex Partners, UBS, Financial, Authority, Thomson Locations: London, New York
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