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BP appoints Murray Auchincloss as permanent CEO
  + stars: | 2024-01-17 | by ( Ruxandra Iordache | ) www.cnbc.com   time to read: +1 min
BP CEO Murray Auchincloss speaks at the panel dicscussion during the Abu Dhabi International Petroleum Exhibition and Conference held at ADNEC Exhibition Center on October 2, 2023. LONDON — Oil and gas major BP appointed Murray Auchincloss as permanent CEO, the company said Wednesday. The energy company said it carried out a search process to appoint the new company boss since September. "It's an honour to lead BP — this is a great company with great people. Our strategy — from international oil company to integrated energy company, or IOC to IEC — does not change.
Persons: Murray Auchincloss, Bernard Looney, Auchincloss, Murray, Helge Lund, I'm Organizations: Abu, Abu Dhabi International Petroleum Exhibition, ADNEC, BP, Amoco Canada, IEC Locations: Abu Dhabi
New York CNN —Winter weather, combined with the grounding of Boeing 737 Max 9 aircraft, is causing major disruptions for air travel. There have been more than more than 2000 flight cancellations Friday, the highest number since July 2023, data from the tracking site FlightAware show. Cancellations due to the grounding of the 737 Max 9 planes are also contributing to the totals. More than 200 United and Alaska Airlines flights have been cancelled each day this week due to the FAA-mandated grounding. 737 Max 9 delaysPassengers on Alaska Airlines and United Airlines have been marred by hundreds of flight cancellations this week.
Persons: Max, , , Boeing “, Dave Calhoun, Calhoun, Jennifer Homendy, CNN’s “ Anderson Cooper, Scott Kirby, Pete Buttigieg, United, CNN’s Marnie Hunter, Forrest Brown, Paradise Afshar, Elizabeth Wolfe, Gregory Wallace, Pete Muntean, Sara Smart, Chris Isidore Organizations: New, New York CNN, Boeing, Max, Midway, Alaska Airlines, FAA, United Airlines, Federal Aviation Administration, CNN, United, Tech Ops, NTSB, Wednesday, CNBC, , Transportation, “ Boeing Locations: New York, O’Hare, Denver, Milwaukee, United, Portland , Oregon, Alaska, Oregon, Washington, Paradise
London CNN —Coaches will no longer be allowed to weigh gymnasts under one of several policies designed to tackle reports of “bullying, harassment and excessive control” in the sport in the UK. Gymnasts also must not be forced to miss formal education classes for gymnastics training under the new policies. Conducted by barrister Anne Whyte, the review concluded that British Gymnastics should have been aware of the “bullying, harassment and excessive control” that occurred in training clubs between 2008 and 2020. In the 2022 report, Whyte highlighted the “recruitment of a significant number of coaches” from the former Soviet Union and the Soviet bloc. In British Gymnastics’ Wednesday statement, Powell said: “Above all else, we care about gymnasts as people, and these new policies make clear that what matters most in gymnastics is the welfare of those involved.
Persons: , Anne Whyte, Claire Heafford, ” Heafford, CNN’s Amanda Davies, Whyte, ” Whyte, CNN Heafford, you’re, Sarah Powell, Powell, Organizations: London CNN —, British Gymnastics, CNN Sport, Soviet Union, Soviet, CNN, UK Sport, Sport England Locations: British, Soviet, London
Circuit Judge Reid Scott rejected Tesla's motion to summarily dismiss Kim Banner's lawsuit accusing the company of causing her husband Jeremy Banner's death in 2019. In a 23-page ruling, Scott found that Kim Banner's attorneys presented sufficient evidence to let the case proceed to trial sometime next year. But Scott agreed that Banner's attorneys had provided enough evidence for the case to proceed. The board said Tesla's Autopilot should have safeguards that don't allow the system’s use on highways that have cross-traffic. The car should also make certain drivers using Autopilot remain engaged with their hands on the wheel.
Persons: , Tesla, Elon Musk, Judge Reid Scott, Kim, Jeremy Banner's, Scott, Whitney Cruz, Trey Lytal, Jeremy Banner, ” Lytal, Musk, , Reid, Banner, Kim Banner Organizations: Associated Press, National Transportation Safety Board, NTSB Locations: FORT LAUDERDALE, Fla, Florida, Beach
Shares of SolarEdge tumbled over 20% in extending trading Wednesday after the solar product manufacturer reported soft guidance for its fourth quarter amid demand struggles in the renewable energy sector. For the overall solar sector, SolarEdge said it expects revenue in the $275 million to $320 million range. At the time, Lando said installation rates for solar panels had declined though those rates typically increase during the third quarter. SolarEdge is based in Israel, but Lando said in October the Israel-Hamas war has not had an impact on manufacturing. The solar sector has faced headwinds over the past year as rising interest rates weigh on the demand for solar energy.
Persons: SolarEdge, Zvi Lando, Lando, Sunrun Organizations: LSEG, Enphase Energy Locations: Europe, Israel, California
After three weeks, the House elected Rep. Mike Johnson to serve as Speaker of the House. Johnson proposed another short-term funding measure to ensure Americans don't lose federal benefits. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementIt took three weeks for congressional Republicans to agree on a new speaker of the House. Johnson on Monday detailed how he plans to structure the House's calendar over the next year, with funding legislation near the top of the agenda.
Persons: Mike Johnson, Johnson, , Kevin McCarthy, Joe Biden, McCarthy, Tom Vilsack, Biden Organizations: House, Service, GOP Rep, Conference, Federal Aviation Administration, National Flood Insurance, Social, Women Locations: Ukraine, Israel
“Our children are in crisis, and it is up to us to save them,” Hochul said, comparing social media algorithms to cigarettes and alcohol. Those who opt out would receive chronological feeds instead, like in the early days of social media. Federal lawmakers have introduced a similar bill that would ban kids under 13 from using social media altogether. And numerous lawsuits against social media platforms have accused the companies of harming users’ mental health. Mulgrew called the New York legislation necessary in part due to a lack of action by the federal government to protect kids.
Persons: Kathy Hochul, Letitia James, Michael Mulgrew, Andrew Gounardes, Nily, , ” Hochul, ” James, hasn’t, , TikTok, Mulgrew, ” Mulgrew Organizations: CNN, New York Gov, New York, United Federation of Teachers Manhattan, New, Facebook, Twitter, YouTube, Tech, York Child Data, US Department of Health, Human Services, Social Media, Mental Health Locations: New York, States, Arkansas , Louisiana, Utah, York, United States
A shutdown would occur the same day student-loan payments resume. The Education Department said resources for borrowers will be available the first few weeks of a shutdown. AdvertisementAdvertisementPresident Joe Biden's Education Department is clear: government shutdown or not, student-loan payment are resuming on October 1. A shutdown could also happen at a critical time for millions of student-loan borrowers. However, amid calls from some Democratic lawmakers and advocates to pause payments in the event of a shutdown, the Education Department confirmed payments are still set to resume.
Persons: doesn't, , Joe Biden's, Biden, servicers, Ayanna Pressley Organizations: Education Department, Service, Joe Biden's Education, Conservative, Democratic, Republicans, Federal, Aid, Management, Education
That's the same day student-loan payments are set to resume. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementRep. Ayanna Pressley does not want student-loan borrowers to worry about repayment and a government shutdown at the same time. With that deadline just days away, that prospect is looking increasingly likely — and it would also fall the same day federal student-loan borrowers could start facing monthly bills again after an over three-year pause. Pressley said in a Wednesday statement that President Joe Biden should pause student-loan payments and interest accrual if a shutdown does happen, and that "it is abundantly clear that student loan payments should not resume October 1."
Persons: Pressley, , Ayanna Pressley, Joe Biden, servicers, Biden's, Biden, Education James Kvaal Organizations: Service, Education, The Education Department, Republican, Education Department
FTX has sued Sam Bankman-Fried's parents, seeking to recover millionsBarbara Fried and Joseph Bankman. Michael M. Santiago/Getty ImagesFTX co-founder Sam Bankman-Fried has been embroiled in legal troubles since the collapse of the cryptocurrency exchange in November. Now, Bankman-Friend's parents — longtime Stanford law professors Joseph Bankman and Barbara Fried — are caught up in FTX's troubles too. The complaint filed in the collapsed cryptocurrency exchange's bankruptcy case in Delaware seeks to recover some damages from Bankman and Fried. Legal representatives for Bankman and Fried did not immediately to a request for comment from Insider sent outside regular business hours.
Persons: FTX, Sam Bankman, Barbara Fried, Joseph Bankman, Michael M, Fried, , Barbara Fried —, Joe, Barbara Organizations: Stanford, FTX, Bankman, Associated Press Locations: Bahamas, Delaware
SHENZHEN, CHINA - AUGUST 26: An aerial view of the Shenzhen skyline on August 26, 2020 in Shenzhen, Guangdong Province of China. (Photo by He Shaoping/VCG via Getty Images) Vcg | Visual China Group | Getty ImagesAsia-Pacific markets are set to extend losses from Tuesday as investors await China's one-year and five year loan prime rates and brace for the U.S. Federal Reserve's rate decision Wednesday stateside. The region will also see August trade data out from Japan, while wholesale inflation in South Korea jumped for the first time since July 2022. In Australia, futures for the S&P/ASX 200 also point to a lower open, at 7,184 compared with the last close of 7,196.6. Futures for Hong Kong's Hang Seng index stood at 17,980, lower than the HSI's last close of 17,997.17.
Organizations: Getty, Visual China, U.S, Japan's Nikkei Locations: SHENZHEN, CHINA, Shenzhen, Guangdong Province of China, Asia, Pacific, U.S . Federal, Japan, South Korea, Chicago, Osaka, Australia
“Listen up, Taiwan is not part of the PRC [and] certainly not for sale!” Taiwan Foreign Minister Joseph Wu said in a Wednesday statement on X, formerly known as Twitter, referring to the country by its official name, the People’s Republic of China. Joseph Wu is Taiwan's foreign minister. China tiesMusk’s comments were made in response to a question about the challenges faced by American businesses in China. In recent years, some Chinese government ministries have banned the company’s vehicles from entering their premises over purported security fears. In Taiwan, Tesla has a sales and charging network.
Persons: Elon Musk, , , Joseph Wu, Sam Yeh, Wu, Musk, ” Musk, Tesla’s, ” Tesla, BYD, Tesla Organizations: Hong Kong CNN — Taiwan’s Ministry of Foreign Affairs, US Pacific Fleet, Communist, Taiwan, Getty, CCP, Chinese Communist Party, Musk Locations: Hong Kong, China, Summit, Los Angeles, United States, Taiwan, Hawaii, Beijing, PRC, People’s Republic of China, AFP, Shanghai
Hong Kong CNN —Intel has pulled out of a major acquisition of an Israeli chipmaker after failing to obtain the required regulatory approval. The US tech giant said in a Wednesday statement it would scrap its planned $5.4 billion purchase of Tower Semiconductor (TSEM), saying it had not received the necessary sign-off from regulators in time. While Intel (INTC) did not specifically mention which jurisdiction it was waiting on, it had previously outlined efforts to clear the deal with authorities in China. Both Intel and Tower said in their respective statements that the deal had been canceled based on mutual agreement. To walk away, Intel will now pay Tower a termination fee of $353 million, the California-based company said in the statement.
Persons: Pat Gelsinger, ” Gelsinger, Joe Biden, won’t, Gelsinger, Russell Ellwanger, Organizations: Hong Kong CNN, Intel, Tower Semiconductor, Financial Times, Administration of, CNN, Companies, Tower’s Nasdaq Locations: Hong Kong, China, United States, Europe, Asia, California, New York
CNN —Bruce Springsteen is taking some time to rest and putting off two concert dates. In May of this year, the “Born in the U.S.A.” crooner took a fall on stage while performing in Amsterdam. They then traveled to Europe, with stops in France, Italy, Germany, Zurich, Birmingham, Oslo, London, Vienna, Munich, England and more. The tour came back to the United States this month, where they played Wrigley Field in Chicago last week before taking this hiatus. They are next scheduled to play Gillette Stadium in Foxborough, Massachusetts on August 24.
Persons: CNN — Bruce Springsteen, Springsteen, , ” Springsteen Organizations: CNN, Citizens Bank, Wrigley Field, Gillette Locations: Philadelphia, U.S.A, Amsterdam, Europe, France, Italy, Germany, Zurich, Birmingham, Oslo, London, Vienna, Munich, England, United States, Chicago, Foxborough , Massachusetts
Asian markets tumble as Fitch downgrades US debt rating
  + stars: | 2023-08-02 | by ( Laura He | ) edition.cnn.com   time to read: +2 min
Asian markets may “tread cautiously” as investors turn wary of foreign holders selling their US Treasuries, said Stephen Innes, managing partner of SPI Asset Management. Just hours before, Fitch Ratings had cut the credit rating of US debt from the top AAA level to AA+. Together they own $2 trillion, which is more than a quarter of the $7.6 trillion in US Treasury securities held by foreign countries. Nonetheless, Goldman Sachs analysts said on Wednesday that they don’t believe there are any meaningful holders of Treasury securities who will be forced to sell due to a downgrade. “Because Treasury securities are such an important asset class, most investment mandates and regulatory regimes refer to them specifically, rather than AAA-rated government debt,” the Goldman Sachs analysts said.
Persons: Fitch, , Australia’s, Stephen Innes, Goldman Sachs, Organizations: Hong Kong CNN, Nikkei, . Tech, China’s, Fitch, AAA, AA, Treasury Locations: Hong Kong, China’s Shanghai, United States, China, Japan
"Any speculations concerning the discussion of new operations of the NDB in Russia are unfounded," the development bank said in a Wednesday statement. The Shanghai-headquartered NDB was founded in 2015 by the "BRICS" nations — that's Brazil, Russia, India, China, and South Africa. She said the bank is not considering new projects in Russia as it operates in compliance with international financial and capital restrictions. On Wednesday, she also met with Russian President Vladimir Putin, the Kremlin said in a statement. Mere days after it invaded Ukraine, some Russian banks were banned from SWIFT, the Belgium-based messaging service that lets banks globally communicate about cross-border transactions.
Persons: , Dilma Rousseff, Rousseff, Vladimir Putin, Putin Organizations: New Development Bank, Twitter, Kremlin, SWIFT Locations: Russia, Shanghai, Brazil, India, China, South Africa, Russian, St, Petersburg, Ukraine, Belgium
A Ukrainian lawmaker is under investigation after he was found vacationing in the Maldives. He left Ukraine in June on a trip to Poland, and called in sick while abroad on July 10, per officials. He and his family were then discovered to be staying at the Waldorf Astoria, authorities said. Aristov then called in sick on July 10, remotely registering with a private medical institution in Kyiv, the bureau said. The Ukrainian authorities raided Aristov's apartment and seized his passport, publishing a YouTube video showing immigration stamps for the Maldives dated July on the passport.
Persons: Yuriy Aristov, Aristov, Dave Pynt, Ruslan Stefanchuk, Volodymyr Zelenskyy, Mykola Tyshchenko, Tschenko, Stefanchuk Organizations: Waldorf, Service, Bureau of Investigation, State Bureau of Investigation, Michelin, Journalists, Slidstvo.info, holidaying, Facebook, People, Ukraine's Ministry of Foreign Affairs Locations: Maldives, Ukraine, Poland, Wall, Silicon, Ithaafushi, Ukrainian, Kyiv, Maldivian, Ukraine's, Aristov, Thailand
Russia and Ukraine have exchanged threats this week to ships sailing through the Black Sea. The Kremlin then went much further, warning it may attack any vessels it believes are bound for Ukraine, effectively turning the Black Sea into a no man's land. They added that Moscow even published a video claiming to have detected and detonated an alleged Ukrainian sea mine. "Our information indicates that Russia laid additional sea mines in the approaches to Ukrainian ports. Turkish-flagged bulker TQ Samsun, carrying grain under UN's Black Sea Grain Initiative, transits Bosphorus in Istanbul, Turkey July 18, 2023.
Persons: Biden, Adam Hodge, António Guterres, , Matthew Miller, Lasalle, Mark Duncan, Washington didn't Organizations: Service, United Nations, AP, White, Security, REUTERS, Black Sea Initiative, UN, US State, US Naval Institute Locations: Russia, Ukraine, Moscow, Wall, Silicon, Kremlin, Odesa, Ukrainian, Kyiv, Crimea, Azov, Samsun, Istanbul, Turkey, Iran, Persian, Iraq, Hormuz, Kuwait, Soviet, Iraqi, American
Hong Kong CNN —A corruption investigation in Singapore has expanded to include Ong Beng Seng, a hotel tycoon best known for bringing the Formula 1 Grand Prix to the wealthy city state. The agency had earlier launched an investigation into a case involving the transport minister, in a rare corruption probe involving a cabinet-level official. Ong’s company said he had posted bail of 100,000 Singapore dollars ($76,000) after being given a notice of arrest. Ong is also the sole shareholder of the Singapore Grand Prix, organizer of the marquee sporting event, his spokesperson confirmed to CNN. Rare caseThe news about Ong emerged just days after Prime Minister Lee Hsien Loong asked the transport minister to take a leave of absence.
Persons: Ong Beng Seng, Ong, , Lee Hsien Loong, Iswaran, CPIB, Lee, Eugene Tan, Bernie Ecclestone, Hoch, Lawrence Wong, Organizations: Hong Kong CNN, Hotel Properties, Practices, Transport, Singapore, Prix, CNN, Singapore Management University, Party Locations: Hong Kong, Singapore, Properties, Maldives, Malaysia, London, Bangkok, Abu
The hack – which Microsoft said was launched in mid-May – was discovered by the State Department right around the time of Blinken’s visit to Beijing, officials said. Still, it provided the Chinese government with additional knowledge from the private discussions of US officials heading into Blinken’s visit. Another target of the hack, Commerce Secretary Gina Raimondo is also expected to soon visit China. Blinken “raised” the issue of the hack in a meeting with top Chinese official Wang Yi in Indonesia on Thursday, a senior State Department official said. On Wednesday State Department Spokesperson Matt Miller said that the department had “detected anomalous activity” in June.
Persons: CNN —, Biden, Antony Blinken’s, , Edward Snowden, Charlie Bell, Blinken, Gina Raimondo, Blinken “, Wang Yi, , Wang, Matt Miller, ” Miller Organizations: CNN, State Department, Microsoft, FBI, National Security Agency, NSA, The State Department, Wednesday State Locations: Beijing, China, Blinken’s, Indonesia
Vietnam and the Philippines are up in arms over a controversial map in the upcoming "Barbie" movie. The map seemingly depicts China's claim over a disputed part of the hotly contested South China Sea. A hotly contested territorial claim has moved away from the realm of politics and landed smack-dab in the middle of the upcoming "Barbie" movie promotions. Barbie is not the only movie to land in hot water over this disputed territoryBarbie is not the first movie to be banned in Vietnam over the territorial dispute. The South China Sea is a hotly contested waterway, with China, Brunei, Indonesia, Malaysia, the Philippines, Taiwan, and Vietnam all staking competing claims.
Persons: Warner Bros, it's, Margot Robbie, Barbie, Tuoi, Warner, Blackpink, Tuoi Tre Organizations: Warner, Warner Bros, Philippine, Philippine Star, South China, Netflix, Eurasia Group Locations: Vietnam, Philippines, China, South, Beijing, Brunei, Indonesia, Malaysia, Taiwan, The Hague, Asia
A group of lawmakers led by Massachusetts Democratic Sen. Elizabeth Warren are calling on the Biden administration to investigate how tax prep software companies may have illegally shared customer data with tech platforms Google and Meta . Some statements the tax prep companies provided to the publications at the time seemed to indicate the data sharing was done accidentally. Our system is designed to filter out potentially sensitive data it is able to detect." Among their findings released Wednesday, the lawmakers said that millions of taxpayers' information had been shared with Big Tech firms through the tax prep software and that both the tax prep companies and tech firms were "reckless" in how they handled sensitive information. Although Meta and Google both said they have filters to catch sensitive data that's inadvertently collected, they seemed to be "ineffective," the lawmakers wrote.
Persons: Sen, Elizabeth Warren, Massachusetts Democratic Sen, Biden, General Merrick Garland, Lina Khan, Daniel Werfel, J, Russell George, TaxAct, Block, Ron Wyden, Richard Blumenthal, Conn, Tammy Duckworth, Bernie Sanders, Sheldon Whitehouse, Katie Porter, Warren, Meta Organizations: Capitol, Massachusetts Democratic, Google, Federal Trade, Tax, Facebook, Meta, CNBC, Big Tech, YouTube, Apple Locations: Washington ,, Sens, D
Hong Kong CNN —Hong Kong police have arrested four people on suspicion of financially aiding activists abroad, just days after they offered bounties for information leading to the arrest of eight pro-democracy figures living in self-imposed exile. They were also charged with conspiracy to sedition, a colonial-era offense, which activists say has been increasingly used in recent years by police to stifle the legitimate criticism of authorities. The arrests came after police put bounties of 1 million Hong Kong dollars ($128,000) each on eight pro-democracy activists abroad, accusing them of violating national security offenses, in a move strongly condemned by rights groups and Western governments. Hong Kong and Beijing authorities say the law restored order in the city following the protests. The suspects were accused of posting content that provoked hatred towards Beijing and the Hong Kong government, while advocating “Hong Kong Independence.” The police did not provide examples of the posts.
Persons: Ivan Lam, John Lee, they’d, Organizations: Hong Kong CNN, Hong, Hong Kong, Monday, Hong Kong Independence Locations: Hong Kong, Beijing, Western, United States, Britain, Australia
Donald Trump has received some $6.6 million from his fans in "a few short days," his campaign said. The fundraising boost echoes the $15 million Trump raised when he was first indicted in March. On Wednesday, he announced that his campaign raised $6.6 million in the "few short days" before and after he was arraigned. Trump raised $15 million in the two weeks after his first indictment in Manhattan, giving a significant boost to his previously dwindling donations, per The New York Times. His supporters also sent him $1.5 million in the days after he falsely predicted that he would be arrested on March 21.
Persons: Donald Trump, , he's, Trump, Bret Baier, Abraham Lincoln Organizations: Trump, Service, New York Times, Fox News, Michigan GOP Locations: Bedminster, Miami, New York, Manhattan, Michigan
Barnaby Webber and Grace Kumar, both 19-year-old students at the University of Nottingham, and Ian Coates, 65, a school janitor, were fatally stabbed. Coates was later found dead from knife injuries on Magdala Road by a member of the public, police said. Police responded to a "major incident" in Nottingham city center early Tuesday morning. “Barnaby Philip John Webber was a beautiful, brilliant, bright young man, with everything in life to look forward to,” his family said. “At 19 he was just at the start of his journey into adulthood and was developing into a wonderful young man,” the family added.
Persons: Barnaby Webber, Grace Kumar, Ian Coates, van, tasered, Coates, , Kate Meynell, Meynell, Lynn Haggitt, ” Haggitt, ” “ I’ve, , Darren Staples, Shearer West, Webber, Kumar, ” Webber, “ Barnaby Philip John Webber, Webbs ’, Handout, AP Kumar, “ Grace, Grace, Kumar’s, “ Ian, ” Ross Middleton, Diana Owen, Ian, David Mellen, Jacob King, Constable Meynell, ” Meynell Organizations: CNN, Nottingham, University of Nottingham, Nottinghamshire Police, Police, BBC, Getty, University of Nottingham’s, Bishops Hull Cricket Club, AP, England, England Hockey, Southgate Hockey Club, Southgate Hockey Club Coates, . Academy Trust, Huntingdon Academy, L.E.A.D . Academy Trust, St, Lawn Tennis Association, Nottingham City Locations: Ilkeston, Milton, Nottingham, AFP, Taunton, England, Huntingdon, St Peter’s, Rothesay, , Peter's
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