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Roszarubezhneft's five joint ventures now must rely on PDVSA-designated intermediaries that take a large share of the revenues for their services, the people said. The joint ventures are owed about $3.2 billion from sales handled by PDVSA, one of the people said. Roszarubezhneft, Russia's oil ministry, PDVSA and Venezuela's oil and foreign affairs ministries did not reply to requests for comment. It also could help PDVSA make progress toward its goal of raising Venezuela's oil output by 40% this year. Oil production at the five joint ventures has dwindled as U.S. sanctions have hampered investment and maintenance work, and deterred many buyers of Venezuelan crude.

Persons: PDVSA's Jose Antonio, Carlos Garcia Rawlins, PDVSA, Rosneft, Nicolas Maduro's, Roszarubezhneft, Alexandra Ulmer, Marianna Parraga, Vivian Sequera, Daniel Flynn Organizations: REUTERS, Chevron, PDVSA, Reuters, Washington, U.S . Treasury, National Security, State Department, Nicolas Maduro's United Socialist Party, Assembly, Thomson Locations: PDVSA's, Anzoategui, Caracas, Moscow, Venezuela, U.S, Russia, Ukraine, Roszarubezhneft, Venezuela's, Rosneft

☆ New US home construction surges by most in 3 decades in May
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +3 min

Housing starts rose to a seasonally adjusted annual rate of 1.631 million units last month from April's downwardly revised 1.34 million, the Commerce Department said on Tuesday. May's rate was the highest since April 2022, which was then the highest since 2006. Starts rose by double-digit margins in the South, Midwest and West while declining by nearly 19% in the Northeast. Permits for future construction, for instance, rose 5.2% to the highest since October at 1.491 million units, led by a 27.1% surge in the Northeast. Permits for single-family projects rose 4.8% while multi-family were up 7.8%.

Persons: April's, Ben Ayers, Alicia Huey, Dan Burns, Conor Humphries, Andrea Ricci Organizations: Federal Reserve, Housing, April's downwardly, Commerce Department, Reuters, Nationwide, National Association of Home Builders, Mortgage, Association, Thomson Locations: South, Midwest, West, Wells Fargo

☆ Green shoots for the IPO market? More companies are looking at going public
▼ + stars: | 2023-06-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The Great IPO Drought has gone on for 18 months, but some are hopeful that may be ending. It still is a mid-sized deal, but it's getting more attention than usual because there is some hopes the Great IPO Drought may have a shot at ending. "A market rise is a necessary precursor for a rebound in IPOs," Matt Kennedy, senior IPO market strategist for Renaissance Capital, told me. Kennedy would know: Renaissance Capital runs the Renaissance Capital IPO ETF, a basket of recent IPOs. It's a long slog back to a 'normal' IPO market As bad as it has been in 2023, it's better than it was in 2022.

Persons: Matt Kennedy, Santosh Rao, Kennedy, DoorDash, Kenvue, Johnson, It's, it's, Cava, Rao Organizations: NYSE, Renaissance Capital, Manhattan Venture Partners, Capital, ARM, Foods, Saks Locations: Cava, IPOs, Snowflake, Palantir, Chao

Berkshire acquired 9.92 million shares in Capital One, a stake worth $954 million based on the closing price on March 31, regulatory filings showed on Monday. The bank's shares have shed around 15% since early March as the banking crisis has clobbered shares of U.S. regional lenders. Silicon Valley Bank, Signature Bank, and First Republic Bank are the three banks that have so far collapsed during the current crisis. The KBW Regional Banking Index (.KRX) fell 0.38%. Fed Vice Chair for Supervision Michael Barr said the central bank was "carefully considering" rule changes for larger regional banks, including requiring them to account for unrealized losses on their banks when considering capital levels.

☆ Who Would Want to Be a C.E.O.?
▼ + stars: | 2023-05-14 | by ( Ravi Mattu | ) www.nytimes.com time to read: +2 min

But what does modern-day management look like, and how are business leaders confronting some of their thorniest challenges? The narrative of the post-Cold War world was economic integration, international supply chains and deepening trade ties. China’s economic development underpinned global growth for decades and was fundamental in helping the west recover after the 2008 financial crisis. The fight over companies’ approach to the environment has run straight into a political culture war. Shareholders, policymakers and commercial imperatives are pushing companies to put sustainability at the heart of their operations.

☆ The top large-cap fund manager from the past 12 months shares the simple change he made that completely turned around his performance — and 13 stocks he loves now
▼ + stars: | 2023-05-12 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

That realization led portfolio manager David Miller to launch the Catalyst Insider Buying Fund (INSIX) nearly 12 years ago. While many funds factor in insider transactions when selecting stocks, few use it as their main prerequisite when screening investments. But in the last 12 months, it's the best-performing large-cap fund on the market through April 30, according to Kiplinger. All of these companies have benefitted from insider buying to some extent, but some have been lifted even more by company buybacks. "They've just been gobbling up their own stock," Miller said of O'Reilly Automotive.

☆ MLB roundup: Yankees blast A's in Aaron Judge's return
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +12 min

Jake Bauers capped the inning by lifting a sacrifice fly, and he later hit a two-run homer in the seventh. Miguel Vargas had a two-run homer and Mookie Betts and Will Smith had solo homers for the Dodgers. Tom Murphy added a two-run homer as Seattle won for the seventh time in its past nine games. Luzardo (3-2) allowed just one run on seven hits and struck out five while walking two. All six Miami runs were credited to Pfaadt (0-1), who came into Tuesday's contest with a 13.50 ERA after allowing seven runs in his only other appearance.

☆ Canada's Justin Trudeau may be struggling but he still commands his party
▼ + stars: | 2023-05-04 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

OTTAWA, May 4 (Reuters) - Canada's Prime Minister Justin Trudeau will kick off what is likely to be the last Liberal Party convention before the next election on Thursday, and though fatigue with his government has deepened there is little question that he is fully in command of his party. Though some cabinet members and former central banker Mark Carney appear to have ambitions to lead the party after Trudeau, no one has come out publicly against him. "Trudeau is the party brand, for better or worse," said Shachi Kurl, president of Angus Reid research group. Conservatives would win 35% of the vote compared to 29% for the Liberals, according to the Angus Reid poll. But in Montreal, the Liberals lead 38% to 15%, and in the suburbs of Toronto the Liberals are ahead 40% to 34%, Angus Reid said.

☆ Point72 and Citadel outpaced rival hedge funds in April. Here's how Millennium, D.E. Shaw, and other multi-strats are faring this year.
▼ + stars: | 2023-05-04 | by ( Alex Morrell | ) www.businessinsider.com time to read: +1 min

Point72 led multi-strategy hedge funds in April with a gain of 1.58%. Citadel was up 1.11% and leads peers year-to-date with a gain of 5.37%. Point72 had the best month among multi-strategy hedge funds, up 1.58% in April and 4.63% for the year. Citadel continues its hot streak with a 1.11% return in April and leads among peers year-to-date, up 5.37%. Fund April performance Year-to-date performance Point72 1.58% 4.63% Citadel 1.11% 5.37% D. E. Shaw (as of 4/21) 0.60% 1.90% Balyasny 0.82% 1.32% ExodusPoint (0.10) 0.80% Millennium Flat 0.50% Schonfeld 0.30% 0.20%April saw a reversal of sorts among hedge fund strategies.

May 3 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. The U.S. regional banking index tanked 5.5% on Tuesday, its biggest fall since the depths of the crisis in mid-March. This may play into Malaysian policymakers' thinking as they prepare to deliver their latest interest rate decision on Wednesday. But that's what Asian markets will be waking up to on Thursday. Before that on Wednesday they have the Malaysian rate decision, services PMI data from Australia and India, and South Korean FX reserves to offer local direction.

☆ US pending home sales slump unexpectedly in March
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, fell 5.2% last month to 78.9, the lowest since December. Economists polled by Reuters had forecast pending sales to have increased 0.5% in March, but the reported decline was larger than even the most pessimistic estimate in the survey. "The lack of housing inventory is a major constraint to rising sales," said NAR Chief Economist Lawrence Yun. That optimism was dented earlier this month when NAR reported that existing home sales slid 2.4% last month. While some firming has continued in the much-smaller market for new homes, the pending homes data suggests the market's overall recovery is likely to be choppy.

☆ Morning Bid: Purchasing managers of the world, diverge
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

Softening second-tier data in the U.S. on Thursday put a bid under bonds for the first time in a few weeks, while bitcoin was clobbered. Purchasing manager's index data are the next set of economic figures due as market focus flings back on growth. British (GBPMMF=ECI) and euro zone (EUPMMF=ECI) manufacturing surveys are seen stuck in contraction territory. European and British services PMIs are seen steady and staying in expansion mode. British retail sales are expected to fall, adding up to a somewhat confounding picture.

☆ Analysis: Investors seek value in clobbered U.S. regional bank shares
▼ + stars: | 2023-03-28 | by ( David Randall | ) www.reuters.com time to read: +4 min

The ETF has slumped nearly 26% since March 8, when SVB's troubles became known, while the S&P Regional Banks Select Industry Index (.SPSIRBK) is down around 23%. Concerns over deposit flight are still swirling around some regional banks. He owns shares of large regional banks including Citizens Financial Group Inc (CFG.N), which have fallen about 22% so far this year, and US Bancorp (USB.N), which are down some 18%. Margie Patel, a senior portfolio manager at Allspring Global Investments, has been adding new positions in regional banks over the last few weeks, citing "value." Regional banks "need positive news that shows their deposits are holding firm or growing," said Rick Meckler, a partner at family office Cherry Lane Investments.

☆ Tech Stocks Appear to Be a Haven From the Banking Crisis, for Now
▼ + stars: | 2023-03-16 | by ( Hardika Singh | ) www.wsj.com time to read: 1 min

Tech stocks were clobbered last year when the central bank began its tightening campaign. Technology stocks have remained relatively insulated from the turmoil rattling financial markets. How long that lasts is anyone’s guess. The tech and communication services groups in the S&P 500—home to the likes of Apple Inc., Microsoft Corp. and the parent companies of Facebook and Google—have climbed 2.3% and 2.9%, respectively, in March, extending their 2023 gains.

☆ Cramer to the Fed: You have an elegant fix for the Silicon Valley Bank crisis — please use it
▼ + stars: | 2023-03-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

ET, where Jim and other experts will discuss the ramifications of Silicon Valley Bank's demise on the economy and the stock market. The who is Silicon Valley Bank. Silicon Valley Bank was not likely to support your company if it did not receive all of your deposits. ET, where Jim and other experts will discuss the ramifications of Silicon Valley Bank's demise on the economy and the stock market. A Brinks armored truck sits parked in front of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California.

☆ Dutch Bros stock clobbered after earnings last week
▼ + stars: | 2023-02-28 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDutch Bros stock clobbered after earnings last weekMad Money host Jim Cramer talks to Dutch Bros President and CEO Joth Ricci about the company's earnings and outlook.

☆ Chris Rock Is Finally Ready to Talk About Will Smith’s Oscar Slap
▼ + stars: | 2023-02-27 | by ( John Jurgensen | ) www.wsj.com time to read: 1 min

Chris Rock, by saving his ammunition for Netflix, has set up a rare thing: a stand-up special with a timely hook. Chris Rock is poised to hit back on his own terms and his own turf: a stand-up comedy special that will stream live on Netflix a week before the Academy Awards. Since Will Smith clobbered him at last year’s Oscars in front of their Hollywood peers and about 15 million onlookers on U.S. television, Mr. Rock has avoided the forums where celebrities typically go to unburden themselves. No prime-time interview with Oprah. In short, no milking of the moment.

☆ Destructive tornadoes in U.S. Plains injure a dozen, cut power for thousands
▼ + stars: | 2023-02-27 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

Some 12,000 homes and businesses were without power across Oklahoma, Poweroutage.us reported. Video footage and photographs of the destruction on local news and social media showed power lines resting in the middle of roadways, debris strewn across neighborhoods and roofs ripped off buildings. A total of nine tornadoes were reported in Kansas and Oklahoma, the National Weather Service said. The rough weather comes after days of a winter storm clobbered the U.S. Plains, Midwest and Great Lakes regions. Monday's national forecast features winds of up to 110 miles (177 km) per hour across the U.S. Plains along with powerful winter storms in California, the Upper Midwest and New England.

☆ Thousands without power as California storms bring rain, snow and cold
▼ + stars: | 2023-02-25 | by ( Sharon Bernstein | ) www.reuters.com time to read: +3 min

[1/5] The Los Angeles river during a rare cold winter storm in the Los Angeles area, in Los Angeles, California, U.S., February 24, 2023. REUTERS/Aude GuerrucciFeb 25 (Reuters) - Nearly 85,000 households and businesses were without power in the Los Angeles area on Saturday, as storms continued to pummel parts of California, bringing snow to higher elevations and dumping rain and hail in the flatlands. In Southern California, "this is a rare case of a cold, significant storm event," Jackson said. On Saturday, scattered showers and isolated thunderstorms were expected to bring rain, hail and a mixture of snow and moisture called "graupel" to the area, the National Weather Service said. Reporting by Sharon Bernstein in Sacramento, California; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Southern California delights in rare snowfall as winter blast lingers
▼ + stars: | 2023-02-24 | by ( Rich Mckay | ) www.reuters.com time to read: +4 min

[1/2] The Hollywood sign is seen through clouds during rare cold winter weather, in Los Angeles, California, U.S., February 24, 2023. The storm was expected to strengthen on Friday and linger over California through Saturday, the National Weather Service said. In Southern California, "this is a rare case of a cold, significant storm event," Jackson said. SEVEN FEET OF SNOW IN SOME SPOTSEven before the latest storm in California, much of the state has experienced an unusually rainy, chilly winter. Heavy rain will inundate many parts of California through Saturday, the weather service said.

☆ Growth of index investing is no threat to market efficiency, study says
▼ + stars: | 2023-02-22 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Brendan McDermid | ReutersIs the growth of passive investing a threat to the stability of the stock market? More assets, more enemiesNo surprise, the largest group of detractors of passive investing is usually active managers. While passive assets under management are growing, passive trading is growing very slowly and is only a tiny fraction of overall trading. Lazzara's conclusion: "The valuation of index constituents is ultimately decided by active managers (and some factor indices) whose trades are motivated by their own research." That would mean passive managers would have to go from owning roughly 30% of market assets now to 83%.

☆ Trump tried to seem unbothered by Ron DeSantis, but he can't stop writing angry Truth Social posts about him
▼ + stars: | 2023-02-20 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

But the former president just can't stop himself from writing Truth Social posts about DeSantis. Trump wrote. The Truth Social spree came after Trump tried to appear unbothered by DeSantis. On February 13, Trump wrote on Truth Social that he doesn't spend much time thinking about his rival at all, as Insider's Kimberly Leonard reported. It's clear Trump sees DeSantis as a real threatDonald Trump and Ron DeSantis.

☆ Market veteran is still bullish on tech despite earnings upset, and reveals his other top picks
▼ + stars: | 2023-02-07 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Last week was a big one for tech earnings, but it ended on a whimper as a series of disappointments left market watchers questioning the strength of the tech rally. But market veteran Kenny Polcari, chief market strategist at SlateStone Wealth, is still bullish on Big Tech. "We added Big Tech on weakness, like Apple and Amazon, these stocks are getting arbitrarily dislocated. So, I do think there's [an] opportunity for sure, but I don't think you can go all in on Big Tech just yet," he said. STPN – 'Stuff that people need' But tech isn't Polcari's only way to play the market.

☆ Jim Cramer says we're in a bull market, so buy on the dip
▼ + stars: | 2023-01-31 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday told investors that the market is in bull mode, so declines represent opportunities to buy on a dip. "If we're in a bull market, and I think we are, you have to prepare yourself," he said, adding, "We have to prepare for the down days now because in a bull market, they're buying opportunities." Stocks rose on Tuesday, with the S&P 500 reaching its best January performance since 2019 on strong corporate earnings and softer-than-expected inflation data. Cramer said the market's ability to gain due to strong earnings reports suggests that it has more room to run. Cramer said that Tuesday's turnaround shows that high-quality names will eventually rebound in the current market.

☆ Super Bowl 57: Chiefs and Eagles to meet for title in Arizona
▼ + stars: | 2023-01-30 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

There are no shortage of storylines: Kansas City coach Andy Reid goes against his old team — which he led to Super Bowl 39 — in a game that’s also the first matchup of Black starting quarterbacks in the Super Bowl with Mahomes and Philadelphia’s Jalen Hurts. This was their fifth straight trip to the AFC title game and will be their third Super Bowl appearance in that span. The Eagles clobbered the Niners 31-7 in the NFC title game earlier Sunday. Philadelphia is back in the Super Bowl five years after beating the New England Patriots 41-33 on Feb. 4, 2018. Now a mostly new generation of Eagles — led by coach Nick Sirianni and Hurts — will come to Arizona to try and win another title.

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