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The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo Acquire Licensing RightsSummaryCompanies OPEC+ meeting delayed to Nov. 30Brent falls below $80Eyes on whether OPEC+ cuts will be rolled over or deepenedLONDON, Nov 22 (Reuters) - Oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts. OPEC+ delayed its ministerial meeting to Nov. 30 from Nov. 26 as previously scheduled, OPEC said in a statement, a surprise development that gave no reason for the postponement. Earlier on Wednesday, Bloomberg News reported that the OPEC+ meeting could be delayed for an unspecified period of time after Saudi Arabia expressed its dissatisfaction with other members about their output numbers. Analysts had predicted before the delay that OPEC+ was likely to extend or even deepen oil supply cuts into next year.

Persons: Angus Mordant, Brent, Rong Yeap, John Evans, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely Organizations: REUTERS, Brent, . West Texas, OPEC, Wednesday, Bloomberg News, Reuters, Organization of, Petroleum, IG, International Energy, Thomson Locations: Loving County , Texas, U.S, Saudi Arabia, Russia, OPEC, London

☆ Election victory of Argentina's Milei greeted globally by mix of hostility and support
▼ + stars: | 2023-11-21 | by ( Steven Grattan | ) www.reuters.com time to read: +3 min

Asked for his reaction on Tuesday, Mexico's leftist President Andres Manuel Lopez Obrador said he respected the voters' verdict, but added that he believed Milei's win is unlikely to alleviate Argentina's problems. But other leftist Latin American leaders were more supportive. Chilean President Gabriel Boric and Brazil's President Luiz Inacio Lula da Silva both extended best wishes to Milei. Lula's congratulations came despite Milei's harsh criticism of the Brazilian leader on the campaign trail, where at one point Milei labeled Lula an "angry communist" and corrupt. Milei found enthusiastic support among right-wing populists, including former U.S. President Donald Trump and former Brazilian President Jair Bolsonaro, who Lula narrowly defeated last year.

Persons: Javier Milei, Alberto Fernandez, Andres Manuel Lopez Obrador, Milei's, Lopez Obrador, Evo Morales, Gustavo Petro, Gabriel Boric, Luiz Inacio Lula da Silva, Milei, Lula's, Lula, Vladimir Putin, Donald Trump, Jair Bolsonaro, I'm, Argentina's, Nayib Bukele, Bukele, Steven Grattan, David Alire Garcia, Rosalba O'Brien Organizations: Peronist, Colombian, Ukraine, U.S, Sao Paulo, Thomson Locations: China, Argentina, Buenos Aires, Venezuela, Colombia, Chilean, Moscow, Russia, Beijing, Sao

☆ How to navigate becoming your friend's boss, according to a workplace therapist
▼ + stars: | 2023-11-20 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +3 min

A tricky scenario that might arise is one friend being promoted and expected to manage the other, says Brandon Smith, a career coach and therapist known as The Workplace Therapist. If you suddenly become your friend's boss, you'll have to navigate a new set of interactions, some of which have the potential to cause friction. Your friend doesn't take your directives seriouslyIt might be hard for your friend to see someone who was an equal as an authority figure. 1 most common issue that comes up is that a friend doesn't take your request as a manager as seriously," Smith says. 1 most common issue that comes up is that a friend doesn't take your request as a manager as seriously.

Persons: Brandon Smith, you'll, doesn't, Smith

(Photo by Jabin Botsford/The Washington Post via Getty Images)Republican Rep. George Santos of New York said Thursday he will not seek reelection in 2024 in the wake of a damning House Ethics report that found "substantial evidence" of campaign fraud and other violations by the embattled congressman. Santos "blatantly stole from his campaign" and "sought to fraudulently exploit every aspect of his House candidacy for his own personal financial profit," according to the report from the investigative body of the House Ethics Committee. The full ethics panel, led by Republican Rep. Michael Guest of Mississippi, unanimously adopted the report and voted to refer its findings to the Department of Justice. The scathing, 56-page ethics report is only the latest blow to Santos, the scandal-plagued freshman lawmaker who is facing a raft of criminal theft and fraud charges in New York federal court. Last month, Santos' former campaign treasurer Nancy Marks pleaded guilty to campaign finance fraud charges related to her work for Santos.

Persons: George Santos, Jabin Botsford, Santos, Michael Guest of, Joe Murray, Sam Miele, Miele, Kevin McCarthy, Nancy Marks Organizations: House Republican, Washington, Getty Images, Republican, Republican Rep, Michael Guest of Mississippi, Department of Justice, FBI, Santos Locations: Washington, DC, Washington ,, George Santos of New York, OnlyFans, New York, Long

☆ CNBC Daily Open: The Moody’s downgrade was a non-event
▼ + stars: | 2023-11-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

In this article AMZNDISGSNFLXENR-DEXOM Follow your favorite stocks CREATE FREE ACCOUNTThe US Treasury building in Washington, DC, US, on Tuesday, Aug. 15, 2023. Nathan Howard | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Investors, focused on the week ahead, are already shrugging off bad news from last week. On Friday, Moody's Investors Service cut its ratings outlook on the U.S. government from stable to negative.

Persons: Nathan Howard, Joe Biden, Xi Jinping, Fitch, Treasurys, There's, Michael Reynolds, Goldman Sachs, Peter Oppenheimer, Jeff Cox Organizations: Treasury, Bloomberg, Getty, CNBC, U.S, Investors, Moody's, Service, Poor's, Glenmede Investment Management, Dow Jones, Nasdaq, Reserve Locations: Washington , DC, Israel, U.S

☆ Stocks gain, bonds calm as Fed outlook trumps Moody's downgrade
▼ + stars: | 2023-11-13 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. Tech stocks stood out, as they had in the U.S. at the end of last week, after the calming of long-term Treasury yields since the start of this month boosted the outlook for borrowing-dependent growth shares. The U.S. dollar index hovered below its post-payrolls-report high of 106.01, reached on Friday, last trading little changed around 105.80. "But now, the Treasury market has already priced in a pause, so there's not much room for Treasury yields to fall further," removing a support for the stock market, he added. "In short, I don't think the stock market rally is going to continue."

Persons: Issei Kato, Wall, HSI, Naka Matsuzawa, Kevin Buckland Organizations: REUTERS, Rights, Tech, Federal Reserve, U.S, Japan's Nikkei, Nomura Securities, Treasury, Brent, U.S . West Texas, Thomson Locations: Tokyo, Japan, Asia, U.S, United States, China, Iraq

☆ Everything you're hearing right now about AI wiping out humans is a big con
▼ + stars: | 2023-11-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Many are shrugging off the supposed existential risks of AI, labeling them a distraction. They argue big tech companies are using the fears to protect their own interests. The timing of the pushback, ahead of the UK's AI safety summit and following Biden's recent executive order on AI, is also significant. More experts are warning that governments' preoccupation with the existential risks of AI is taking priority over the more immediate threats. Merve Hickok, the president of the Center for AI and Digital Policy, raised similar concerns about the UK AI safety summit's emphasis on existential risk.

Persons: —, You've, there's, Yann LeCun, Altman, Hassabis, LeCun, LeCun's, OpenAI's Sam Altman, Anthropic's Dario Amodei, Andrew Ng, hasn't, Anthropic, Aidan Gomez, Merve Hickok, Hickok, Rishi Sunak, Michelle Donelan Organizations: Service, Google, CNBC, Stanford University, Australian Financial, Guardian, Center, AI

☆ 'Recessions always start with an economy that's been booming': An investing pioneer explains why he sees 50% chance of a downturn in 2024
▼ + stars: | 2023-10-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Investing pioneer Rob Arnott said there's a 50-50 chance of a recession in the coming year. "People will say that recessions don't start with a booming economy," Arnott told CNBC Thursday. "There's a couple of headwinds that play against growth and in favor of value," Arnott said. AdvertisementAdvertisementHe said persistent inflation supports the case for value stocks rather than growth stocks, since they provide a greater margin of safety. Elevated inflation, too, sustains higher bond yields, which suggests a higher discount rate for long-term future growth, and ultimately "reduces the value of growth stocks relative to value stocks."

Persons: Rob Arnott, there's, Arnott, — Organizations: CNBC, Service, Research Affiliates

ORCHARD PARK, N.Y. (AP) — Josh Allen threw two touchdown passes and ran for another — shrugging off aggravating an injury to his throwing shoulder — and the Buffalo Bills hung on to beat the Tampa Bay Buccaneers 24-18 on Thursday night. After a week of questions about his “low-energy” approach and Buffalo's slow-starting offense, Allen came through for the Bills (5-3), throwing for 324 yards on 31-of-40 passing. Buffalo’s defense limited the Buccaneers' Baker Mayfield-led attack to less than 200 yards of offense through three quarters and 302 overall. But it took Tampa Bay 17 plays and 7:21 to march 92 yards for that score. Allen took advantage, topping 300 yards for the 23rd time in his career.

Persons: — Josh Allen, Allen, Gabriel Davis, Dalton Kincaid, Baker Mayfield, Sam Martin, Mayfield, Mike Evans, Cade Otton, Mary, Chris Godwin, White, Vita Vea, Logan, Steve Young, Hall, Hall of Famer Dan Marino, Antoine Winfield Jr, William Gholston, Godwin, Kincaid, Damar Hamlin, Hamlin, ___ Organizations: Buffalo Bills, Tampa Bay Buccaneers, Bills, Buccaneers, Tampa Bay’s, Tampa, Tampa Bay, Buffalo, Bucs, Hall of Famer, NEXT Buccaneers, Houston, Cincinnati, Bengals Locations: ORCHARD, Tampa, Buffalo

☆ Morning Bid: Risk aversion grips markets
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. The sell-off in the bond market continued into Asian hours, with the benchmark 10-year Treasury yield at 4.949%, its highest since mid-2007. That weighed on regional bond markets in Asia, with Japanese government bonds yields hitting decade highs. Futures indicated that European stock markets are due to open much lower as risk aversion takes hold, while the European economic calendar is bare. Netflix makes many of its shows and movies overseas, which accounted for the bulk of its new sign-ups.

Persons: Thomas Peter, Banerjee, Biden, Jerome Powell, Elon Musk, shrugging, Powell, Ankur Banerjee, Edmund Klamann Organizations: REUTERS, Netflix, Reuters Graphics Reuters, Thomson Locations: Beijing, China, Asia, Pacific, Japan, Israel, Venezuela, France

Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020. "Such an escalation could lead to increased oil prices, concerns about oil supply, and the potential for a global economic downturn." In the unlikely event the United States sends troops into the Middle East, Belote expected a $20 jump in oil prices, "if not more". "Israel has better relations with other Arab countries compared to then," JP Morgan private bank strategist Madison Faller said in a note, "and global oil supply is not as concentrated." Reuters Graphics5/ TECH JITTERSWhat's good for oil stocks can be bad for big tech.

Persons: Abdel Hadi Ramahi, Hamza Meddeb, Malcolm H, Brent Belote, Belote, JP, Madison Faller, Nadia Martin Wiggen, Alessia Berardi, Amundi's Berardi, Trevor Greetham, Morgan Stanley, Jeff, London's Greetham, Naomi Rovnick, Nell Mackenzie, Marc Jones, Dhara Ranasinghe, Sharon Singleton Organizations: United Arab Emirates, REUTERS, Kerr Carnegie Middle East Center, Oil, JP Morgan, Svelland, Reuters Graphics Reuters, U.S, Reuters, Swiss, Royal, Aegon, Deutsche Bank, Aerospace, Thomson Locations: Dubai, United Arab, Israel, Gaza, Beirut, IRAN, Iran, U.S, United States, Arab, Turkey, Ukraine, Egypt, Jordan, Iraq, Saudi Arabia, Qatar, Bahrain, Suez, London

☆ Banks’ wealth-management heyday may have passed
▼ + stars: | 2023-10-18 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

For wealth managers, that will make revenue growth much harder to come by, shifting the focus to controlling expenses. LOSING ITS SPARKLEIn Wall Street parlance, wealth management is a capital-light business. Little wonder Morgan Stanley boss James Gorman focused on wealth management after taking charge in 2010. The good news for UBS and Morgan Stanley is that they are better placed than most to handle these pressures. The bank’s wealth-management business generated a 35% ROTE, while the division that houses investment banking and trading managed just 8%.

Persons: UBS –, Morgan Stanley’s, Morgan Stanley, James Gorman, Sergio Ermotti, Goldman Sachs, Italy’s, Iqbal Khan, Morgan Stanley’s Andy Saperstein, Peter Thal Larsen, Sharon Lam, Oliver Taslic Organizations: Reuters, Wealth, UBS, Credit Suisse, HSBC, HK, Lloyds Banking Group, Revenue, Treasury, Big, Thomson Locations: Swiss, United States, Americas, Switzerland, Britain’s St, James’s

☆ JPMorgan's top strategist says buy more gold, stay underweight stocks because of high rates, geopolitics
▼ + stars: | 2023-10-17 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

JPMorgan's top strategist is telling investors to buy more gold and remain underweight stocks. All three major averages remain higher this month, shrugging off higher yields and the breakout of the Israel-Hamas conflict. "Our outlook is likely to remain cautious as long as interest rates remain deeply restrictive, valuations expensive, and the overhang of geopolitical risks persists," Kolanovic wrote. In fact, the strategist expects the upward march in equities is 'unsustainable' in a higher-for-longer interest rate environment. Equities are up YTD mostly on multiple expansion while real rates and cost of capital are moving deeper into restric-tive territory," Kolanovic wrote.

Persons: Marko Kolanovic, Kolanovic, — CNBC's Michael Bloom Locations: Israel

☆ An 'extended war'? Markets may be underestimating the Israel-Hamas conflict
▼ + stars: | 2023-10-11 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

Oil prices jumped 4% on Monday before shrugging off those gains in subsequent sessions, and gold prices have inched higher by a little over 1% since the attack. "Global markets have yet to fully price the inflation risks from developments — from higher oil prices and more defense spending," Savage cautioned. That would cause the premium [of oil prices] to go higher," said Rapidan Energy Group's President Bob McNally. This could spike oil prices well north of $150 per barrel," Alpine Macro said in a note following the incursion. One analyst is of the view that even if the conflict prolongs, its implications on global markets is still largely contained.

Persons: Sameh, BNY Mellon, shrugging, BNY, Bob Savage, Savage, Amir Cohen, Bob McNally, McNally, Antony Blinken, Marko Papic, Mahmud Hams Organizations: Nurphoto, Hamas, U.S ., Swiss, BNY, Stockholm International Peace Research Institute, Reuters, Energy, United Nations, U.S, ., NBC News, Palestinian Health Ministry, Clocktower Group, CNBC, Brigades, Afp, Getty Locations: Gaza City, Israel, Palestinian, Gaza, Ukraine, Stockholm, U.S, Ashkelon, Iran, United States, Persian, Mahmud

☆ Trump, fraud, and minding the GAAP: A guide to the accounting rules at the heart of his NY trial, courtesy of 2 standup comics who happen to be CPAs
▼ + stars: | 2023-10-09 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

Trump's $250M fraud trial hinges on whether he followed generally accepted accounting principles. AdvertisementAdvertisementTrying to follow the Trump Organization civil fraud trial but don't understand all the quacking about "GAAP, GAAP, GAAP" — those wonky, "generally accepted accounting principles" at the heart of the trial? Donald Trump leaves his civil fraud trial in New York on its third day of testimony. "I know Trump would like to see them 'wiggle, wiggle, wiggle' for sure," she added. AdvertisementAdvertisementTrump's civil fraud trial begins its second week on Tuesday.

Persons: —, Donald Trump, Donald Trump , Jr, Trump, Letitia James, Donald Trump's, Tammara Buckey, Buckey, Buckley, Missy Hydrick, Steve Gianturco, He's, Stevie GB, Brendan McDermid, Gianturco, Seth Wenig, FASB, Fabio, James, Jason Derulo Organizations: Service, Trump Organization, New York, Trump, NY, CPA, Federal, Accounting Locations: Huntsville , Alabama, Long Island , New York, New York, York, Manhattan's

☆ Wall Street's dream scenario is dead
▼ + stars: | 2023-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +8 min

Wall Street's vision of a Goldilocks scenario for the stock market and economy is unraveling. AdvertisementAdvertisementWall Street's dream of a Goldilocks scenario for the stock market and economy is probably dead. Interest rates soared. As painful as inflation and higher interest rates were, the economy remained resilient as consumers held onto their jobs and kept swiping their credit cards. It has to acknowledge that interest rates are now sufficiently restrictive, and decide that it's next monetary policy move isn't an interest rate hike, but rather a pause, and then a cut.

Persons: —, it's, Jerome Powell, Powell's, Powell, Buckle, Greg Daco, Something's, Kevin O'Leary, we've, Wharton, Jeremy Siegel, Mary Daly, Raphael Bostic Organizations: Service, Treasury, Valley Bank, Bloomberg, CNBC Locations: America

☆ Kevin McCarthy's CBS interview, where he blamed Democrats for the near-government shutdown, tanked any hope of them saving his speakership
▼ + stars: | 2023-10-04 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

A CBS News interview destroyed any chance that Kevin McCarthy had in keeping his job as speaker. But ahead of the vote, McCarthy said that he wasn't entertaining any major concessions from the minority party. After Democratic leaders showed the "Face the Nation" interview to members on Tuesday, McCarthy's remarks angered members from across the party's ideological spectrum. AdvertisementAdvertisementAhead of today's vote on an effort to oust @SpeakerMcCarthy, the House Democratic Caucus watched McCarthy's interview with @margbrennan on Sunday, where he attempted to blame House Democrats for the near-government shutdown. "After I saw Kevin McCarthy's interview with Margaret Brennan, all magnanimity left my body," he told Punchbowl News on Tuesday.

Persons: Kevin McCarthy, McCarthy, —, Kevin McCarthy —, Margaret Brennan, Brennan, McCarthy's speakership, gavel, McCarthy's, @SpeakerMcCarthy, @margbrennan, Matt Cartwright of, Donald Trump, might've, Kevin McCarthy's, Jim Clyburn, Matt Gaetz Organizations: CBS, Service, CBS News, California Republican, Democratic, Democrats, House Democratic Caucus, Fox News, Punchbowl News, CNN, Rep, — Locations: California, Matt Cartwright of Pennsylvania, South Carolina, Florida

☆ House GOP’s impeachment witnesses say there's no evidence yet Joe Biden committed a crime
▼ + stars: | 2023-09-28 | by ( Rebecca Shabad | Dareh Gregorian | ) www.cnbc.com time to read: +5 min

One of the panel's expert witnesses, law professor Jonathan Turley, acknowledged that the evidence Republicans had gathered so far, however, doesn't prove their case. The House Republicans, Raskin said, were acting "like flying monkeys on a mission for the Wicked Witch of the West." The Democrats' witness was Michael J. Gerhardt, a law professor at the University of North Carolina who testified during Trump's first impeachment inquiry. House Republicans have said they are looking into whether Biden improperly aided his son or profited off his business dealings. The White House has repeatedly rejected the House GOP's assertion that Biden abused the power of his office to enrich his family.

Persons: James Comer, Joe Biden, Hunter, Biden, Trump, Comer, Jim Jordan, Jonathan Turley, Jamie Raskin, they've, Donald Trump, Raskin, Turley, Bruce Dubinsky, Eileen O'Connor, Michael J, Gerhardt, Trump's, Bill Clinton's, They've, Ian Sams, Jim Jordan of, Jordan, " Sams, Kevin McCarthy Organizations: House Republican Conference, U.S, Capitol, Republican, Constitution, Republicans, GOP, The House Republicans, George Washington University, House Democrats, Justice Department's Tax, University of North, Democratic, FBI, Justice Department, White, Trump Locations: Ky, Ohio, University of North Carolina, Jim Jordan of Ohio, Kentucky

TOKYO (AP) — Shares in Asia were mostly higher on Wednesday, shrugging off a sharp decline on Wall Street that took benchmarks back to where they were in June. That pushed the Fed last week to say it will likely cut interest rates by less next year than earlier expected. Besides high interest rates, a long list of other worries is also tugging at Wall Street. On Wall Street, the vast majority of stocks fell Tuesday under such pressures, including 90% of those within the S&P 500. Big Tech stocks tend to be among the hardest hit by high rates, and they were the heaviest weights on the index.

Persons: shrugging, Hui Ka Yan, Australia's, ” Stephen Innes, Brent Organizations: TOKYO, Tokyo's Nikkei, Hang Seng, Bloomberg, Garden Holdings, Dow Jones, Nasdaq, Federal Reserve, Treasury, Fed, U.S, Management, Big Tech, Apple, Microsoft, Federal Trade Commission Locations: Asia, Hong Kong, Shanghai, China, Seoul, Maryland, Carolinas

☆ Ignore the Fed's inflation warning as it often gets things wrong, says top economist David Rosenberg
▼ + stars: | 2023-09-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Ignore the Fed's warning that interest rates may stay higher for longer, David Rosenberg said. The Fed misjudged the dot-com and housing bubbles as well as the inflation spike last year, he said. However, investors should ignore his messaging given the central bank's long history of getting things wrong, David Rosenberg says. Rosenberg was highlighting that, only two years ago, the Fed expected its benchmark interest rate to be under 1% at the end of 2023. The veteran economist has repeatedly sounded the alarm on the delayed impact of raising interest rates.

Persons: David Rosenberg, Jerome Powell, Rosenberg, Powell, Merrill Lynch, Ooops, Lucy, where's Organizations: Fed, Service, Rosenberg Research, North Locations: Wall, Silicon, North American

☆ Buy the dip in Nvidia and make these 5 other investments now while stocks struggle, according to a long-time chart guru who called last month's market pullback
▼ + stars: | 2023-09-21 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

A bearish head-and-shoulders pattern has formed in the S&P 500, Keller said in a recent interview with Insider. The S&P 500 is in a head-and-shoulders pattern and could soon fall to around 4,100. His early August warning that stocks will slide was correct, though the S&P 500 didn't give up as much of its summer rally as the chart guru predicted. Outside of technology, Keller likes stocks in the utilities and energy sectors — specifically those in the oilfield services industry. The recent rebound of utilities, a defensive stalwart, is another signal that more market downside is likely ahead, Keller said.

Persons: chartmaster David Keller, Keller, StockCharts.com, we've, David Keller, Keller's, he's, it's, Keller didn't Organizations: Labor, Nvidia, Utilities, Energy, VanEck Oil Services

The Federal Reserve, as expected, left interest rates unchanged on Wednesday while raising forecasts for economic growth and lowering them for unemployment next year. “Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. Inflation remains elevated.”The central bank updated its forecasts for economic growth, unemployment and inflation. The GDPNow estimate from the Federal Reserve Bank of Atlanta is now pegging economic growth in the third quarter at 4.9%. But it would likely curb economic growth at a time when the Fed’s policies have restricted credit and other government stimulus is waning.

Persons: “, ” Powell, ”, Powell, Andrew Patterson, Ruslan Lienkha, Victor Li, Jeff MacDonald, Joe Biden, Donald Trump Organizations: Federal Reserve, Fed, ”, Villanova University, Federal Reserve Bank of, GOP Locations: Saudi Arabia, Russia, U.S, Federal Reserve Bank of Atlanta

☆ Yen flounders, dollar drifts ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The yen fell 0.1% to 147.76 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. The euro meanwhile gave up some of its gains from the previous session and was last 0.12% lower at $1.0678. It had risen alongside euro zone government bond yields on Monday, following hawkish comments from European Central Bank (ECB) policymakers that further rate increases were on the cards. In other currencies, sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England (BoE) also due this week.

Persons: Dado Ruvic, Kazuo Ueda, Rodrigo Catril, Erik Weisman, NAB's Catril, BoE, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, Wednesday, Bank of Japan's, National Australia Bank, NAB, Reserve Bank of Australia's, U.S, New Zealand, Fed, MFS Investment Management, European Central Bank, ECB, Reuters, Bank of England, Thomson Locations: Rights SINGAPORE, Asia

☆ Saudi energy minister says oil supply cuts are not about 'jacking up prices,' as Brent hovers at $95 a barrel
▼ + stars: | 2023-09-19 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +5 min

Prince Abdulaziz bin Salman at the World Petroleum Congress in Calgary, Canada, on Sept. 18, 2023. Bloomberg | Bloomberg | Getty ImagesSaudi Arabia's energy minister said Riyadh and Moscow's decision to extend crude oil supply cuts is not about "jacking up prices," as Brent futures hover near $95 a barrel and analysts predict further rises into triple digits. The increases have rallied some analysts around speculation of a short-term return to oil prices at $100 per barrel. Asked on the possibility of hitting that threshold, Chevron CEO Mike Wirth on Monday admitted oil prices could cross into triple digits in a Bloomberg TV interview. Energy prices have repeatedly underpinned higher inflation in the months since the war in Ukraine and Europe's gradual loss of access to sanctioned Russian seaborne oil supplies.

Persons: Prince Abdulaziz bin Salman, Topping, Mike Wirth, We're, we're, Abdulaziz, Fatih Birol, they've, Amin Nasser Organizations: World Petroleum Congress, Bloomberg, Getty, Saudi, Brent, Saudi Energy, Organization of, Petroleum, Chevron, International Energy Agency, IEA, CNBC, United Arab Emirates Locations: Calgary, Canada, Riyadh, OPEC, Saudi Arabia, Russia, London, U.S, Ukraine, Paris, China, Saudi, Aramco, United Nations

☆ Trump plans to give speech to autoworkers in Detroit, skipping second GOP debate
▼ + stars: | 2023-09-18 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Former US President and 2024 Presidential hopeful Donald Trump speaks at the CWA (Concerned Women for America) Summit 2023 in Washington, DC, on September 15, 2023. Former President Donald Trump is planning to visit Detroit next week to speak with current and former union members instead of attending the Republican primary debate, his campaign told CNBC on Monday. A campaign spokesman confirmed reporting in The New York Times that Trump, the clear front-runner in the race for the 2024 Republican presidential nomination, intends to counterprogram the second primary debate as his rivals compete to catch up to him. Fain has previously said that a second Trump term in the White House would be a "disaster." He skipped the first primary debate last month, opting instead to sit for a pre-taped interview with former Fox News host Tucker Carlson that aired as the debate kicked off.

Persons: Donald Trump, Trump, Detroit carmakers, Shawn Fain, Fain, Trump's, Tucker Carlson, shrugging, Joe Biden Organizations: CWA, America, Detroit, CNBC, The New York Times, United Auto Workers, UAW, Trump, Reagan, Fox News, GOP Locations: Washington ,, California

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