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☆ Evergrande, the massive Chinese real estate developer with $300 billion in debt, is ordered to liquidate by a Hong Kong court
▼ + stars: | 2024-01-29 | by ( Clare Jim | Xie Yu | ) www.businessinsider.com time to read: +3 min

A Hong Kong court on Monday ordered the liquidation of real-estate developer China Evergrande Group. Evergrande is the world's most indebted developer with more than $300 billion of total liabilities. AdvertisementA Hong Kong court on Monday ordered the liquidation of China Evergrande Group, a move likely to send ripples through China's crumbling financial markets as policymakers scramble to contain the deepening crisis. Evergrande had been working on a $23 billion debt revamp plan with the ad hoc bondholder group for almost two years. Before Monday, at least three Chinese developers have been ordered by a Hong Kong court to liquidate since the current debt crisis unfolded in mid-2021.

Persons: —, Evergrande, Hui Ka Yan, Linda Chan Organizations: Monday, China Evergrande, Service, Hong, China Evergrande Group, Hong Kong High, Evergrande Locations: Hong Kong, Beijing, China

☆ China Evergrande Must Be Liquidated, a Judge Said. What Happens Next?
▼ + stars: | 2024-01-29 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

After nearly two years of false starts, last-ditch proposals and pleas for more time, China Evergrande, a massive property company, has been ordered to dismantle itself. The worries in real estate, where most households put their savings, helped tip the economy into a downturn. The Evergrande bankruptcy will play out in Hong Kong and China. A Hong Kong judge, Linda Chan, on Monday ordered Evergrande’s liquidation and appointed Alvarez & Marsal, a firm that specializes in bankruptcy cases, to manage the unwinding. The firm’s role will be to help creditors — particularly overseas investors who made loans to Evergrande — get some of their money back.

Persons: Lehman, Linda Chan, Alvarez, —, Marsal Organizations: Lehman Brothers, U.S ., Hong, Marsal, Court, Alvarez Locations: China, U.S, Hong Kong, Beijing

☆ Opinion: Elon Musk, Harvard and the art of ‘taking action’ while doing nothing
▼ + stars: | 2024-01-23 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +9 min

CNN —Elon Musk, who spends much of his time on futuristic endeavors, took a step into history on Monday. Like in other entities where an upsurge in antisemitic activity started making headlines, Musk was taking performative action at Auschwitz. It was an effort to appear to be taking action while doing nothing. After his visit to the death camp, Musk appeared at a conference on antisemitism in nearby Krakow, Poland. President Claudine Gay was asked in Congress if calls for genocide against Jews violate Harvard rules against bullying and harassment.

Persons: Frida Ghitis, CNN — Elon Musk, Musk, “ Hitler, ”, ” Musk, dumbest, George Soros “, Ted Deutch, Elders of Zion, X, “, Tucker Carlson, Claudine Gay, Israel “, Israel, he’s “, Alan Garber, Garber, Derek Penslar, Penslar, Larry Summers Organizations: CNN, Washington Post, Politics, Frida Ghitis CNN, Center, Twitter, Defamation, American Jewish Committee, Elders of, Media Matters, Apple, Disney, IBM, Media, Harvard University, Harvard, Jewish, Harvard’s, Jewish Studies Locations: Auschwitz, Israel, Gaza, United States, Krakow, Poland

☆ Flipping the bird: Why the middle finger is the most controversial digit
▼ + stars: | 2024-01-22 | by ( Scottie Andrew | ) edition.cnn.com time to read: +5 min

While throwing up a middle finger today clearly communicates a resounding “f**k you,” in classical society, historians say a middle finger was more of a ribald sexual reference. Proudly displaying a middle finger was usually a joke, an insult or a sexual proposition, Nelson and other classical researchers posit. Morris has said that the middle finger landed in the US with Italian immigrants in the late 19th century. Anti-establishment artists from Joe Strummer of The Clash to Tupac Shakur have pointed a middle finger at the ruling class in their work — and, in famous photos, literally. The singer appeared during Madonna’s Super Bowl Halftime Show and flexed her middle finger toward the camera, prompting the NFL and NBC to apologize.

Persons: ”, Max Nelson, Nelson, Aristophanes, Socrates, Suetonius, Caligula, Desmond Morris, Morris, ” Morris, It’s, ” Nelson, didn’t, Brian Palmer, Johnny Cash, Joe Strummer, Tupac Shakur, M.I.A, Madonna, assumedly Organizations: CNN, BBC, University of Windsor, Catholic Church, Slate ., San, NFL, NBC Locations: Ontario, Canada, Greece, Rome, San Quentin, California, M.I.A

☆ Huawei sets up new smart car company in Shenzhen, China as it gets more serious about autos
▼ + stars: | 2024-01-18 | by ( Michelle Toh | Wayne Chang | ) edition.cnn.com time to read: +5 min

The company incorporated Shenzhen Yinwang Intelligent Technology Co Ltd on Tuesday in the southern Chinese city of Shenzhen, where Huawei is based. The news marks another milestone for Huawei, which has accelerated its automotive ambitions in the past three years. But it has been hobbled in recent years by US export restrictions, which sent the company into a tailspin. The unveiling coincided with a launch by Chinese rival Xiaomi of its own first electric car, showing how competition between the two companies has spilled over to another sector. In November, a subsidiary of Changan, a Chinese state-owned automaker, disclosed that it had partnered with Huawei to form a new company created to provide smart car systems.

Persons: Elon Musk’s Tesla, Warren Buffett Organizations: Taipei CNN, Huawei, Intelligent Technology Co, Elon, Chongqing Changan Automobile Co, Changan, Shenzhen Yinwang, Automotive, Ministry of Industry, Information Technology, Economic Locations: Hong Kong, Taipei, Shenzhen, China, Changan, Chongqing, United States, Davos, Switzerland

☆ China's property market is failing. These are the 3 new growth areas Beijing is focusing on to pull itself out of a tailspin.
▼ + stars: | 2024-01-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's real-estate sector has been mired in a debt crisis for over two years with no signs of a strong recovery. Electric vehiclesThanks to government subsidies, China is already the world's largest market and producer of electric vehicles. Related storiesThe Chinese EV market is expected to continue growing 25% this year, although the growth is slower than the 36% the industry posted in 2023 as Beijing winds down its subsidies. In the last quarter of 2023, Chinese EV maker BYD overtook Tesla to become the world's largest seller of electric vehicles . Other Chinese EV brands with international expansion plans include Nio, Geely, and Zeekr.

Persons: Xi, Tesla, Ilaria, Bernstein, Wood Mackenzie Organizations: Service, Business, Eurasia Group, Center for Strategic, International Studies, South, Financial Times Locations: China, Beijing, Europe, Washington ,

☆ One year after the December 2022 Fed meeting and stock investors are almost back to even
▼ + stars: | 2023-12-13 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The S & P ended last December down almost 6% and ended all of 2022 down almost 20% (19.4% to be exact). 2 022 was an odd duck Last year was an unusual one — unusual because market declines of 20% don't happen very often. And the S & P 500? The S & P dropped 25% from the January 2022 closing high of 4,793 to the bottom of 3,577 in October 2022. Three-quarters of the time, the S & P 500 goes up from one year to the next.

Persons: Stocks, it's Organizations: Federal Reserve, Down

☆ A signal from big companies they think workers are losing control of the job market
▼ + stars: | 2023-11-28 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

Unemployment has ticked up, wage growth continues to decline, and the "quits rate" has leveled off from its pandemic surge. The CFO view of the labor market also filters through to their broader view of the economy and markets, which has changed in other considerable ways over the four quarters of surveying by CNBC this year. Almost a year later, the market has rallied on the conviction that inflation has been vanquished and the hikes are finished. But the CFO view of when inflation returns to 2% keeps getting pushed farther out into the future. That's more hawkish than the market, which currently is betting the Fed may start cutting by May.

Persons: CFOs, that's, it's, Jackson Organizations: CNBC, Stone, Nasdaq, PPI, Inflation, Walmart, Dow Jones, Dow, Fed Locations: Detroit, Hollywood, CFOs, it's

NEW YORK (AP) — Two more women have come forward to accuse Sean “Diddy” Combs of sexual abuse, one week after the music mogul settled a separate lawsuit with the singer Cassie that contained allegations of rape and physical abuse. After their date, Combs “intentionally drugged” her, then brought her home and sexually assaulted her, according to the filing. Without her knowledge, Combs videotaped the assault and later shared it with several friends in the music industry, the suit alleges. “Upon information and belief, when Combs finished with Jane Doe, he and Hall switched, and they commenced assaulting Jane Doe’s friend,” the suit states. A few days later, an “irate” Combs allegedly showed up at the home of the two women in an attempt to stop them from speaking out about the abuse.

Persons: Sean “ Diddy ” Combs, Cassie, drugging, Combs, Joi Dickerson, Combs “, ”, Dickerson, Aaron Hall, —, Jane Doe —, “, Jane Doe, Hall, Jane Doe’s, ” Combs, Tyrone Blackburn, Mary J, Blige, Biggie Smalls, Cassie Ventura, Ventura Organizations: Syracuse University, Hall, New York City Police Department, Associated Press, Bad Boys Records Locations: New York, Harlem, York, New Jersey

☆ Sean 'Diddy' Combs accused of sexual abuse by two more women
▼ + stars: | 2023-11-24 | by ( ) www.cnbc.com time to read: +5 min

Two more women have come forward to accuse Sean "Diddy" Combs of sexual abuse, one week after the music mogul settled a separate lawsuit with the singer Cassie that contained allegations of rape and physical abuse. After their date, Combs "intentionally drugged" her, then brought her home and sexually assaulted her, according to the filing. Without her knowledge, Combs videotaped the assault and later shared it with several friends in the music industry, the suit alleges. "Upon information and belief, when Combs finished with Jane Doe, he and Hall switched, and they commenced assaulting Jane Doe's friend," the suit states. The suit brought by Dickerson notes that the victim filed police reports in New York and New Jersey after the abuse.

Persons: Sean, Diddy, Combs, Cassie, drugging, Joi Dickerson, Dickerson, Aaron Hall, —, Jane Doe —, Jane Doe, Hall, Jane Doe's, Tyrone Blackburn, Mary J, Blige, Biggie Smalls, Cassie Ventura, Ventura Organizations: Syracuse University, Hall, New York City Police Department, Associated Press, Bad Boys Records Locations: New York, Harlem, York, New Jersey

☆ Confessions of a startup founder's wife
▼ + stars: | 2023-11-15 | by ( Melia Russell | ) www.businessinsider.com time to read: +20 min

I wished I had told Kyle that I would understand if he wanted to quit. That's as apt a description of Kyle's startup as it is of our relationship. I'm not sure Kyle has found as many perks to being a startup founder married to a startup reporter. Now Kyle's startup has pivoted a third time. The truth is, I don't know if Kyle's startup will make it.

Persons: Kyle, Kyle shrugged, pang, I'd, hadn't, Scott Belsky, It's, messier, I've, he'd, Jillian, Chris Dixon, Andreessen Horowitz, Jeff Bezos, MacKenzie Scott, Schulze, TikTok, Josh Cochran, Marc Andreessen, I'm, He'd, Eric Paley, Steve Jobs, —, Playbyte, he's, Rohan Seth, Paul Davison, Steve Huffman, hasn't, Instagram, it's, Zelda, That's, cradling, Melia Russell Organizations: Apple Watch, Steam, Francisco's Mission, University of California, TechCrunch, White House, YouTube, Labor Locations: Champagne, Francisco's, Berkeley, San Francisco, New York, America, Playbyte, Kyle, Boston, Bay, sobs

☆ Opinion: When Biden meets Xi, there’s one obstacle he can’t overcome
▼ + stars: | 2023-11-14 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

Biden may want Xi to help bring down the temperature on the world’s ongoing wars and help prevent new ones from igniting. Although China occasionally tries to keep a façade of neutrality, there’s little question that it is aligned with Russia. White House officials have said Biden will provide “clarity” to Xi, on the US positions regarding Taiwan and Russia’s war against Ukraine. Still, there’s a limit to how much Xi can downplay the need for growth. Even so, Biden and Xi are likely to make some progress in an important and necessary meeting.

Persons: Frida Ghitis, Joe Biden, Xi Jinping, Xi, Xi –, Vladimir Putin –, Barack Obama, ”, “, Nancy Pelosi’s, Saul Loeb, Biden, Mao Zedong Organizations: CNN, Washington Post, Politics, Frida Ghitis CNN, Biden, Central Military Commission, Israel, Kremlin, Hamas, US, Beijing, Getty, Ukraine, Communist Party, China Locations: California, Bali , Indonesia, China, Russia, Ukraine, Israel, Washington, Beijing, Iran, Tehran, Moscow, Taiwan, Indonesia, South China, White, Gaza

☆ Moody's warning on the massive U.S. debt burden has turned into a nonevent
▼ + stars: | 2023-11-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | Getty ImagesThere was a time when bad news about U.S. debt would send markets into a tailspin, but not this month. Markets on Monday shrugged at a warning Friday from Moody's Investor's Service that it was lowering its ratings outlook on Treasurys. But with the domestic fiscal and political mess seemingly old news, the ratings service saber-rattling just doesn't seem to have the same impact. "There's no piercing insight from Moody's that they have proprietary information that nobody knows about the U.S. government. watch nowIndeed, no one has to tell investors about the $33.7 trillion U.S. debt and the $1.7 trillion deficit in fiscal 2023.

Persons: Michael M, Fitch, There's, Michael Reynolds Organizations: New York Stock, Santiago, Moody's Investor's, Poor's, U.S, Glenmede Investment Management, . Locations: New York City, Washington, Wall

☆ A GOP lawmaker frustrated by Nancy Mace's opposition to a recent spending bill texted colleagues a link to a video entitled 'How to talk to a Narcissist'
▼ + stars: | 2023-11-12 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

A GOP lawmaker texted colleagues a video he said described his feelings about her, WaPo reported. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A GOP lawmaker was so frustrated with Mace during the process that the individual sent out a link in a group text to a video entitled, "How to talk to a Narcissist," according to The Washington Post. AdvertisementAdvertisementAnother House GOP lawmaker who was included in the text thread told The Post that the linked video encapsulated his feelings about the high-profile lawmaker. "I think he meant he supported the same policy ideas as David Duke, but he wasn't David Duke, that he didn't have the same feelings about certain people as David Duke did," Grace told the newspaper at the time.

Persons: Nancy Mace, texted, WaPo, —, Kevin McCarthy of, Mace, McCarthy, Steve Scalise, Jim Jordan of, Tom Emmer, Minnesota —, David Duke, Stephanie Grace, Scalise, Grace, Mike Johnson's, We've Organizations: GOP, Service, South Carolina Republican, The Washington, Post, Republicans, CNN, New York Times, American Unity and Rights Organization Locations: Kevin McCarthy of California, Louisiana, Jim Jordan of Ohio, Minnesota, Scalise, American

☆ He’s Gone From Miami, to Celebrity, to Upending Greek Politics
▼ + stars: | 2023-11-10 | by ( Niki Kitsantonis | More About Niki Kitsantonis | ) www.nytimes.com time to read: +1 min

Stefanos Kasselakis was virtually unknown in Greece just six months ago when he was a no-chance election candidate with Syriza, the country’s main opposition party. Improbably, he is now the leader of Syriza, having essentially come out of nowhere to defeat a former minister for the top role a month ago. But his leadership has sent the leftist party into a tailspin, and is expected to result in one influential faction breaking away at a top-level party meeting this weekend. It has also signaled both a reorganization of leftist politics in Greece and, some analysts say, a shift in the style of the country’s politics to rely more on appearances and less on substance. “His election is the product of the rightward drift of the previous leadership,” said Seraphim Seferiades, a professor of politics and history at Panteion University in Athens, who pointed to a similar trend across Europe and beyond where the left has strayed from some of its core principles to gain broader appeal.

Persons: Stefanos Kasselakis, Goldman Sachs, Syriza, “, ”, Seraphim Seferiades Organizations: Syriza, Panteion University Locations: Greece, Athens, Europe

☆ Huawei launches its rival to Tesla’s Model S
▼ + stars: | 2023-11-10 | by ( Diksha Madhok | Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong/Beijing CNN —Huawei has launched a new electric vehicle (EV) that is designed to take on Elon Musk’s Tesla. The Chinese tech giant began taking preorders of the Luxeed S7, its first sedan, on Thursday. The S7’s 800-volt battery pack, the thinnest in the industry according to Yu, is made by Chinese EV battery giant CATL. A 15-minute charge will yield a driving range of 400 kilometers (249 miles), according to Yu, which surpasses the 347-kilometer range (about 216 miles) for Tesla’s Model S after a similar charging period. However, at the equivalent of $35,400, the S7 is much cheaper than the most basic Model S, which costs 698,900 yuan or $95,800 in China.

Persons: Elon Musk’s Tesla, Richard Yu, Mark Rainford, ”, ” Rainford, Yu, Rainford, Tesla, they’re Organizations: Beijing CNN, Huawei, Elon, Chery, YouTube, China, CNN, EV, Automotive Locations: China, Hong Kong, Beijing, Shenzhen, Shanghai

☆ Sam Bankman-Fried was just convicted. Where does crypto go from here?
▼ + stars: | 2023-11-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at Sam Bankman-Fried's conviction and what it means for the future of crypto. Sam Bankman-Fried, the crypto industry's most recognizable face (and head of hair), was found guilty of seven counts of fraud and conspiracy on Thursday night. Charges against Bankman-Fried included wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud, and conspiracy to commit money laundering. The conviction came, perhaps fittingly, on the first anniversary of the CoinDesk scoop that sent FTX, the crypto exchange Bankman-Fried co-founded and led, into a tailspin. The downfall was swift, with Bankman-Fried resigning as CEO and FTX collapsing just over a week after the initial report.

Persons: —, Katie Notopoulos —, Linda Yaccarino, Sam Bankman, Chelsea Jia Feng Down, Crypto, SBF, FTX, Fried, Katie Balevic, Jacob Shamsian, Katie, Chelsea Jia Feng, Miami —, That's, Brian Snyder Jamie Dimon, Jeff Gundlach, Gundlach, Mike Blake, Jack Dorsey, Samantha Lee, Janet Yallen, Sheryl Crow, Missy Elliott, isn't, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bankman, Alameda Research, Wall, BlackRock, PayPal, JPMorgan, Microsoft, Tech, Financial, Labor Statistics, Hall, Today Locations: FTX's, New York City, San Diego, London, New York

☆ There are 2 factors that may be driving bond yields more than Fed meetings, Societe Generale says
▼ + stars: | 2023-11-02 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Fed meetings may not be the biggest mover of the bond market, Societe Generale said. AdvertisementAdvertisementDespite US bond yields plunging after Wednesday's Federal Reserve meeting, central bankers may not be moving the market as much as other factors, according to Societe Generale. Another factor elbowing yields higher is the Bank of Japan, according to Edwards. AdvertisementAdvertisementThis week, the BoJ further loosened its grip on bond yields, marking another step back from its so-called yield curve control policy meant to stimulate the economy by keeping interest rates low. "That pressure intensified at exactly the same time as it became apparent just how gargantuan US Treasury issuance had become," he added.

Persons: —, Albert Edwards, Fedspeak, Edwards Organizations: Societe Generale, Bank of Japan, Service, Reserve, Treasury, Treasury Department

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ AMC's CEO thought he was texting naughty photos to a former ballerina fling. Then everything went haywire.
▼ + stars: | 2023-10-27 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

This "resentment toward her abusers" may have led her to text Aron — a wealthy, powerful man in the public eye, her lawyers said. "Send me a naughty picture," Blackwood texted, a couple weeks into their flirty exchange. When he asked for photos in return, Blackwood sent him images of an unnamed Russian model that she pulled from Instagram. "Ceo scandal is apparently lucrative," Blackwood texted, posing as Brian. AdvertisementAdvertisement"I was shown some images and I was wondering if you're available to speak," the fake reporter texted Aron.

Persons: Adam Aron's, Mia, Aron, Sakoya Blackwood, Adam Aron, Matthew Belloni, Blackwood, She'd, Evander, —, Aron —, paramour, Koya Blackwood Fews, Lila Cohen, Brian, Blackwood texted, he'd, they'd, Brian —, He'd, Brian didn't, there's, he's, abt, Aron didn't, Blackwood didn't, texted Aron, hadn't, Jeff Bezos, Bezos, fiancée Lauren Sanchez —, Aron hasn't, hasn't, Taylor, unfazed, He's Organizations: of, United States, Court Southern District of, Hollywood, AMC, Evander Childs High School, —, Instagram, Arizona, National Enquirer, ppl, FBI, Twitter, Amazon Locations: Southern, of New York, Court Southern District of New York, Bronx, Jamaica, Russian, York City, California, Sinai, Aron

☆ Jim Jordan's House Speaker bid gains momentum as Biden warns of 'dangerous' leadership vacuum in Congress
▼ + stars: | 2023-10-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

US Representative Jim Jordan (R-OH) speaks to members of the media at the US Capitol in Washington, DC, on October 4, 2023. The renewed momentum came at a crucial moment for Jordan, whose candidacy seemed destined to fail late last week. After winning the internal, closed door nomination vote, Jordan still faced a bloc of around 50 House Republicans who opposed his speakership. Jim Jordan can do it," McCarthy said in a social post. President Joe Biden called the leadership vacuum in the House "dangerous" in an interview with CBS News that aired Sunday.

Persons: Jim Jordan, Jim Jordan of, Republican holdouts, Jordan, Mike Rogers of, Ken Calvert of, Ann Wagner of Missouri, Carlos Gimenez of, Don Bacon of, Gimenez, Kevin McCarthy, Steve Womack, Mike Lawler, Mario Diaz, Matt Gaetz, McCarthy, Joe Biden, Biden, Michael McCaul, Steve Scalise Organizations: Jim Jordan of Ohio, Representatives, Republican, Republicans, Armed Services, Mike Rogers of Alabama, NBC News, Carlos Gimenez of Florida, California Republican, Rep, Jordan, CBS News, Republican Party, Foreign Affairs, NBC, Texas Republican, GOP Locations: Washington ,, Ken Calvert of California, Don Bacon of Nebraska, Arkansas, York, Florida, Israel, Ukraine, Kyiv, Russia, United States, Texas, Louisiana

☆ US oil is back, and ExxonMobil's $60 billion deal isn't even the biggest signal
▼ + stars: | 2023-10-15 | by ( Tim Mullaney | ) www.cnbc.com time to read: +8 min

The news came a day after a $60 billion deal between Exxon Mobil and independent oil producer Pioneer Natural Resources . Monthly production topped out at 13 million barrels per day in November 2019 and hit 9.9 million by February 2021. And offshore oil drilling in the Gulf of Mexico recovered to 2 million barrels a day, but hasn't grown. Where oil companies have been spending their money U.S. oil companies cut capital spending to $106.6 billion last year from $199.7 billion in 2014, according to Statista, contributing to the decline in oil production and arguably delaying the recovery. According to Energy Department data, oil and gas companies paid out about $75 billion per quarter in the last year.

Persons: Brittany Sowacke, Rob Thummel, hasn't, what's, Thummel, Alexandre Ramos, Jay Hatfield, doesn't, Baker, Hughes, Darren Woods, Woods, Hatfield, Ramos, Peon, aren't Organizations: Bloomberg, Getty, Energy, U.S . Department of Energy, Exxon Mobil, Natural Resources, Wall, Exxon, Big Oil, America, Rystad Energy, Oil, Infrastructure Capital Advisors, Energy Department, Pioneer, CNBC, Chevron, PDC Energy, Noble Energy, Independent, Global, ExxonMobil, OPEC, Iran Locations: Midland , Texas, Brittany, Kansas City, Mo, U.S, Oklahoma, North Dakota, Alaska, Gulf, Mexico, Texas, New Mexico, Colorado, New York, American, Hatfield, Israel, Iran

☆ Singapore policy review shift is sign of times
▼ + stars: | 2023-10-13 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. The city-state’s central bank unexpectedly announced on Friday that it would shift to quarterly meetings to assess monetary settings from 2024, switching from biannual reviews. Even though it took local economists by surprise, Singapore’s decision to introduce more frequent monetary policy reviews looked inevitable. Singapore’s unique monetary policy arrangements, and its trade-based economy, made it increasingly hard to use a too-rigid setup. The announcement came after the MAS kept its monetary policy settings unchanged, as expected, and pointed to both upside and downside risks to inflation.

Persons: Edgar Su, Chia Der, it’s, Chia, Lisa Jucca, Thomas Shum Organizations: Monetary Authority of Singapore, Rights, Reuters, Monetary Authority of, Swiss National Bank, People’s Bank of, Singapore, MAS, Ministry of Trade, Industry, Thomson Locations: Singapore, Rights SINGAPORE, Monetary Authority of Singapore, People’s Bank of China, China, United States, Ukraine, Israel

☆ McCarthy says he would return as House speaker: 'Whatever the conference wants, I will do'
▼ + stars: | 2023-10-09 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference in the U.S. Capitol on border security, government funding, and other issues, on Friday, September 29, 2023. WASHINGTON — Kevin McCarthy, R-Calif., said he was open to becoming speaker of the House again, less than a week after he was ousted from the role. McCarthy changed his tune on Monday in an interview with conservative radio talk show host Hugh Hewitt, saying, "Whatever the conference wants, I will do." Rep. Mike Lawler, R-NY, a supporter of McCarthy, said there is support in the caucus for McCarthy to lead again. And I believe a good portion of the conference believes Kevin McCarthy should continue to be speaker," Lawler said.

Persons: Kevin McCarthy, WASHINGTON — Kevin McCarthy, McCarthy, Hugh Hewitt, Hewitt, Steve Scalise, Jim Jordan, Mike Lawler, Lawler Organizations: U.S, Capitol, Republicans, Republican, Rep Locations: Ohio, Israel

(AP) — Jaxson Dart threw for four touchdowns, including a 13-yard, game-winner to Tre Harris with 39 seconds remaining as No. Daniels was 15 for 19 passing for 234 yards and three touchdowns, added 67 rushing yards and a QB rating of 234.5. 20 Rebels, the fourth highest ranked SEC team in the poll, are poised to move up, but no SEC team has moved up more than five slots in any single week. 13 LSU is certain to drop, but will the Tigers become this season’s first two-loss team to remain in the Top 25? 20 Rebels host Arkansas to complete a two-game home stand on Saturday.

Persons: Jaxson Dart, Tre Harris, Ole Miss, Jayden Daniels, Chris Hilton Jr, Dart, Brian Thomas Jr, Daniels, Harris, Ole, Lane Kiffin’s, Thomas, Logan Diggs Organizations: OXFORD, Miss, LSU, Rebels, Tigers, The Rebels, Alabama, Ole Miss, SEC, AP Locations: Mississippi, Missouri, Arkansas

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