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4 U.S. soy state by planted acres, which ships about 70% of its harvest of the high-protein oilseed to China annually. Instead, the new facilities will be able to process half of the state's soy harvest into oil for biofuel and meal for livestock feed. The crush plant will draw soybeans from farmers 60 miles in each direction, said Mike Keller, vice president with ADM. EXPORT EXPANSIONU.S. grain exports have been reaching global buyers for decades via Gulf Coast and Pacific Northwest terminals. U.S. soybean farmers and industry groups pledged an additional $1.3 million to help offset design and development costs.

☆ 'Vaccination-style' intervention needed to solve energy crisis, UK energy boss says
▼ + stars: | 2022-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Gas prices have soared to record levels over the last year as higher global demand has been intensified in Europe. LISBON, Portugal — The U.K. should embark on a "vaccination-style" effort to address surging energy prices and prevent future energy crises from happening, according to the boss of gas and electricity supplier Ovo Energy. That's even after a cap on consumer energy bills was imposed by the government in early September. Between July 2021 and May 2022, 29 U.K. energy suppliers — including Bulb, once the seventh-biggest — have collapsed. After a deal to acquire the retail arm of Scottish firm SSE Energy , Ovo became the second-largest supplier of energy to households in the U.K.

☆ Israel’s Netanyahu given chance to form far-right government
▼ + stars: | 2022-11-11 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

He will formally present Netanyahu with the task on Sunday and give him a month to cobble together a governing coalition with a majority in the 120-seat Knesset. Netanyahu had governed Israel for 12 successive years before being being ousted by a broad but fragile coalition in 2021. Those recommending Netanyahu included Ben Gvir’s Jewish Power party, the ultranationalist Religious Zionist party, the openly homophobic Noam faction, and other ultra-Orthodox parties. Like its previous repeated elections, Israel’s Nov. 1 vote was largely centered on Netanyahu’s fitness to rule. Critics see him as a crook who threatens Israel’s democratic institutions by placing his legal woes above the national interest.

That is why, leaders say, HBCUs and other minority-serving institutions will be even more important to students of color should the Supreme Court end affirmative action in college admissions. Allison ShelleyThe Supreme Court is hearing cases that challenge affirmative action policies at Harvard University and the University of North Carolina. Although HBCUs are predominantly Black institutions, non-Black students made up 24% of HBCU enrollment in 2020, according to the NCES. That diversity is important to consider amid claims that HBCUs make race-conscious admissions unnecessary, said Marie Bigham, the founder and executive director of the race-conscious admissions advocacy group Admissions Community Cultivating Equity & Peace Today. Late last month, the coalition and students from across the country protested outside the Supreme Court as it weighed the cases.

☆ Tiger Global, Coatue, and other hedge funds tried to upend venture capital. It backfired and now they're 'licking their wounds,' VCs say.
▼ + stars: | 2022-11-11 | by ( Darius Rafieyan | Melia Russell | ) www.businessinsider.com time to read: +10 min

New investments by Tiger Global and Coatue fell 60% and 67%, respectively, this year. "They're licking their wounds," said Nihal Mehta, a founding partner at Eniac Ventures, whose portfolio includes the marketing-tech startup Attentive, a crown jewel of Tiger Global and Coatue's portfolios. Speaking to founders, Mehta hears crossover funds come up less and less in conversation, and partners at some crossover funds tell him they're pulling back from new deals, though crossover funds haven't disappeared altogether. Crossover funds found themselves with billions of dollars in deployed capital and few exits in sight. Last month, Tiger Global and Coatue both revealed they are seeking to raise new funds earmarked for early-stage startup deals.

☆ Gabon Targets a Huge Payday With Carbon Credits
▼ + stars: | 2022-11-10 | by ( Phred Dvorak | ) www.wsj.com time to read: 1 min

The African nation of Gabon, one of the most densely forested on earth, is launching the world’s biggest sale of carbon offset credits. The plan could net the country billions of dollars and upend the fast-growing market for carbon credits. Gabon, which sits on Africa’s west coast, is 88% forest. It has slowed the cutting of those trees, and is now seeking to sell credits for the emissions decline it has achieved. The trees pull carbon dioxide from the atmosphere, reducing greenhouse gases.

That could support a rally in 10-year Treasury bonds and help stocks extend their recent gains, they said. "I think the markets are rallying at the prospect of gridlock," said Jack Ablin, chief investment officer at Cresset Capital in Chicago. Historically, stocks have tended to do better under a split government when a Democrat is in the White House, with investors attributing some of that performance to political gridlock that prevents major policy changes. The benchmark index has risen about 5% over the last month, cutting its year-to-date decline to about 20%. With U.S. equity options market positioned for relative calm, a surprisingly strong showing by Democrats could upend markets.

☆ Trump aides scrambled to stop him announcing his presidential candidacy on the eve of the midterms and upending the election: Report
▼ + stars: | 2022-11-08 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Trump wanted to announce a 2024 bid on Monday, right before midterm voting, per The Washington Post. Aides successfully persuaded him not to, fearing it'd upend the election, its report said. Trump is now expected to announce a 2024 bid on November 15. Other aides, it reported, wanted Trump to go ahead. (Axios last week reported that Nov. 14 would be the date when Trump would likely announce his candidacy.)

☆ China Covid: Death of boy in lockdown fuels backlash against zero-Covid policy
▼ + stars: | 2022-11-03 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

The boy’s father said his wife and child both fell ill around noon on Tuesday, showing signs of gas poisoning. The mother’s condition improved after receiving CPR from the father, but the boy fell into a coma, according to the man’s social media post. The father claimed in his social media post that the police did not show up until after he had taken his son to hospital. Demand for answersThe boy’s death also ignited anger from local residents. Videos circulating on social media show residents taking to the streets to demand an answer from authorities.

☆ Oil CEOs say this winter is not the season to worry about when it comes to the energy crisis
▼ + stars: | 2022-11-01 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

The global economy is facing an onslaught from multiple sides — a war in Europe, and shortages of oil, gas and food, and high inflation, each of which has worsened the next. But as much concern as there is ahead of this winter, it's really the winter of 2023 that people should be worried about, major oil and gas executives have warned. "It's the next winter I think many of us worry, in Europe, could be even more challenging." watch nowThe CEO of Italian oil and gas giant Eni expressed the same worry. For this winter, Europe's gas storage is around 90% full, according to the International Energy Agency, providing some assurance against a major shortage.

☆ Pfizer Squares Off With Merck, Other Drugmakers Over Lucrative Pneumonia Vaccines
▼ + stars: | 2022-10-31 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

The number of pneumococcal vaccine doses administered in the U.S. rose 12% from a year ago. Rival drugmakers are seeking to upend Pfizer Inc.’s dominance of the $7 billion worldwide market for pneumonia vaccines, launching what is shaping up to be one of the industry’s fiercest battles. Merck & Co. has already introduced a new competitor to Pfizer’s Prevnar vaccine franchise, while GSK PLC and Vaxcyte Inc. are among companies developing shots that aim to win sales by protecting against even more strains of the pneumonia virus.

☆ Merck Is Coming for Pfizer’s Pneumonia Vaccine Market Share
▼ + stars: | 2022-10-31 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

It’s become routine since Russia invaded Ukraine: President Joe Biden and Ukrainian President Volodymyr Zelenskyy speak by phone whenever the U.S. announces a new package of military assistance for Kyiv. Biden had barely finished telling Zelenskyy he’d just greenlighted another $1 billion in U.S. military assistance for Ukraine when Zelenskyy started listing all the additional help he needed and wasn’t getting. Biden lost his temper, the people familiar with the call said. Biden now faces resistance from some Republicans and Democrats that wasn’t present when Congress approved previous Ukraine funds. “I had an important conversation with U.S. President Biden today,” he said in videotaped remarks.

☆ Fed set to deliver another big rate hike, debate December downshift
▼ + stars: | 2022-10-31 | by ( Ann Saphir | ) www.reuters.com time to read: +5 min

Defining that point, or at least its parameters, will be the subject of intense discussion at this week's Federal Open Market Committee meeting. Reuters GraphicsAnd during that time, Fed policymakers, with the notable exception of Powell, have offered a range of views on where they stand on a possible slowdown or even pause to rate hikes. Fed Governor Michelle Bowman, for instance, said she'll look for signs that inflation is moving down before she would want to reduce the pace of rate hikes. Reuters Graphics'NEED TO BE CONVINCED'Bets in futures markets weigh heavily in favor of a slowdown in rate hikes starting in December, but ultimately a top Fed policy rate of 4.75%-5.00%, slightly higher than policymakers themselves have flagged, by early next year. Fed policymakers, Reinhart said, are also well aware that monetary policy typically goes too far.

☆ Drugmakers Fight Over Lucrative Pneumonia Vaccines
▼ + stars: | 2022-10-31 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

It's become routine since Russia invaded Ukraine: President Joe Biden and Ukrainian President Volodymyr Zelenskyy speak by phone whenever the U.S. announces a new package of military assistance for Kyiv. Biden had barely finished telling Zelenskyy he'd just greenlighted another $1 billion in U.S. military assistance for Ukraine when Zelenskyy started listing all the additional help he needed and wasn't getting. Biden lost his temper, the people familiar with the call said. Administration officials said Biden and Zelenskyy's relationship has only improved since the June phone call, after which Zelenskyy made a statement praising the U.S. for its generous assistance. "I had an important conversation with U.S. President Biden today," he said in videotaped remarks.

☆ Clarence Thomas says 'I don't have a clue' what 'diversity' means as the Supreme Court tackles affirmative action
▼ + stars: | 2022-10-31 | by ( Jake Epstein | ) www.businessinsider.com time to read: +2 min

Supreme Court Justice Clarence Thomas said he didn't know what the word "diversity" meant. The Supreme Court is tackling a case challenging affirmative action in college admissions. "I've heard the word diversity quite a few times and I don't have a clue what it means. The court heard oral arguments Students for Fair Admissions (SFFA) vs. the University of North Carolina (UNC), a case centered around the school's admissions process. UNC denied SFFA's allegations, and lower courts sided with the university before the case was brought to the Supreme Court.

☆ Why paganism and witchcraft are making a comeback
▼ + stars: | 2022-10-30 | by ( Antonio Pagliarulo | Antonio Pagliarulo Is The Author Of The Forthcoming | ) www.nbcnews.com time to read: +8 min

Witchcraft, which includes Wicca, paganism, folk magic and other New Age traditions, is one of the fastest-growing spiritual paths in America. Witchcraft, which includes Wicca, paganism, folk magic and other New Age traditions, is one of the fastest-growing spiritual paths in America. Berger is one of the foremost academic experts on contemporary witchcraft and paganism in America and draws knowledge about its appeal from surveys she’s co-conducted on the pagan community. This blending of faiths has been a seamless process for me and other folk magic practitioners despite what traditional religious authorities might say. Blending of faiths has been a seamless process for me and other folk magic practitioners despite what traditional religious authorities might say.

☆ Elon Musk owning Twitter should give everyone pause
▼ + stars: | 2022-10-29 | by ( Seth Fiegerman | ) edition.cnn.com time to read: +7 min

Elon Musk, the mercurial billionaire, had agreed to buy Twitter for $44 billion the month before only to begin raising doubts about the deal soon after. Now, Musk joins the list of rich, white men who single-handedly control social platforms that collectively reach and shape the lives of billions of people around the world. And Musk, who will reportedly have “absolute control over Twitter” according to a shareholders’ agreement, promises to be uniquely disruptive. To those in the first camp, Musk serving as the sole decider at Twitter may be cause for celebration. Elon Musk is a conglomerate, and each arm of his empire potentially gives him more leverage, real or imagined, in advocating for the others.

☆ A court just ruled that CFPB's funding is unconstitutional, and that could be 'catastrophic' for mortgage markets
▼ + stars: | 2022-10-28 | by ( Stephanie Dhue | ) www.cnbc.com time to read: +6 min

Mortgage rules at riskIf the agency's legal authority is undermined, it could have a profound affect on home lending markets — an industry that's prone to disruption when laws are murky, especially as interest rates rise. That extended the potential damages to the Wall Street banks as well as mortgage investors Fannie Mae and Freddie Mac. Appeal likelyIf the Fifth Circuit decision is upheld, it could call into question those long-standing mortgage rules. "The loss of the CFPB mortgage regulations and the effect on the market would catastrophic," said Andreano. "Potential changes in how the CFPB are funded aren't likely to have an immediate effect on the mortgage market."

☆ Exxon and Apple are in a similar boat
▼ + stars: | 2022-10-28 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Oct 28 (Reuters Breakingviews) - Exxon Mobil (XOM.N) might be able to give Apple (AAPL.O) a lesson in disruption. Exxon’s profit was nearly triple last quarter what it was in the same quarter last year, and it wasn’t alone. Oil investors have been clear that they want discipline, as demand will likely peak soon if it hasn’t already. That means Exxon will presumably never reclaim its crown as the world’s most valuable firm, and Apple still earned far more than the company in the past year. Exxon earned $19.7 billion in the quarter, nearly tripling what it earned in the same period last year.

☆ U.S. tech giants face pressure from Europe's telcos to pay for building the internet
▼ + stars: | 2022-10-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Michael Bocchieri | Getty ImagesIn Europe, the battle between U.S. Big Tech companies and telecommunications firms has reached fever pitch. In May 2022, EU competition chief Margrethe Vestager said she would look into requiring Big Tech firms to pay for network costs. In South Korea, companies have similarly lobbied politicians to force "over-the-top" players like YouTube and Netflix to pay for network access. Tech companies, naturally, don't think they should pay for the privilege of sending their traffic to consumers. There's also the matter of why internet users pay their providers in the first place.

New York CNN Business —Elon Musk has completed his $44 billion acquisition of Twitter, the company confirmed in a securities filing Friday, putting the world’s richest man in charge of one of the world’s most influential social media platforms. The confirmation comes after a source familiar with the deal told CNN the deal had closed Thursday night. But Musk’s takeover now raises a host of new questions for the future of the social media platform, and the many corners of society impacted by it. Despite multiple news outlets confirming the changes Thursday night, Twitter staff had still not formally been informed of the changes as of Friday morning, two Twitter employees told CNN. Now he controls a social media platform that shapes how hundreds of millions of people communicate and get their news.

☆ Even Barry Sternlicht is getting hammered by rising rates. A recent deal his $6 billion firm backed out of shows how.
▼ + stars: | 2022-10-26 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

The scuttled deal shows how rising rates have hit Starwood CEO Barry Sternlicht's bottom line. It has canceled its plans to purchase the Stamford, Connecticut, mortgage originator Luxury Mortgage Corp., according to a person with direct knowledge of the deal. The situation with Luxury Mortgage, however, shows how rising rates have also affected Starwood's bottom line. A budding partnership was upended by rising ratesIn recent years, Starwood has become one of Luxury Mortgage's biggest customers. Luxury Mortgage's business has also been strained in recent months.

☆ This startup cuts down on the legal costs paid by the likes of Airbnb and LinkedIn. Check out the 9-slide pitch deck Johnson Hana used to raise $10.5 million.
▼ + stars: | 2022-10-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Johnson Hana has raised 10.5 million euros (around $10.4 million) to take on the legal sector. The startup, used by the likes of Ryanair and Airbnb, aims to dramatically reduce legal costs. Irish legal tech startup Johnson Hana has raised 10.5 million euros (around $10.4 million) to build out its platform which is designed to upend traditional law firms by offering legal services to the likes of LinkedIn and Airbnb at a fraction of the industry cost. Compliance tasks that often form the basis of legal process work are often charged by law firms as advice that demands more input from lawyers, according to Johnson Hana. Check out the 9-slide pitch deck Johnson Hana used to raise the funds below:

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