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☆ Oil prices up on strong U.S. demand, Fed signals in focus
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose on Wednesday on expectations of strong global demand, including in the world's top consumer the United States, and as even somewhat sticky U.S. inflation did not dent expectations the Fed might start cutting rates soon. The Organization of the Petroleum Exporting Countries, or OPEC, stuck to its forecast of a strong oil demand growth globally of 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025 and raised its economic growth forecast for this year. In another indication of healthy demand, U.S. crude oil inventories and fuel inventories fell last week, according to market sources citing American Petroleum Institute figures. Lower rates support oil demand. Oil prices were under pressure in the previous session after the U.S. Energy Information Administration raised domestic oil output forecast but declines were limited on expectations that OPEC+ output cuts will still slow global oil growth and on the recent wave of drone attacks on Russia, including refineries.

Persons: Brent Organizations: West Texas, of, Petroleum, American Petroleum Institute, Reserve, U.S . Energy, Administration Locations: Taft, Kern County , California, United States, Russia

☆ The US Army has its eyes on the Arctic and is readying soldiers for the cold, unforgiving wastes that could be their next battlefield
▼ + stars: | 2024-03-13 | by ( Chris Panella | ) www.businessinsider.com time to read: +11 min

AdvertisementThe two-week JPMRC Alaska training exercise involved over 8,000 troops from the 11th Airborne Division, as well as international allies and partners. Brandon VasquezBack in 2021, the US Army released its new strategy on regaining Arctic dominance, leading to the reorganization of its Alaskan forces and priorities. AdvertisementAll Arctic nations are keeping an eye on what could be seen as increased access to energy, minerals, and resources in the Arctic. AdvertisementU.S. Army Soldiers assigned to the 11th Airborne Division patrol on snow machines during the Joint Pacific Multinational Readiness Center 24-02 exercise at Donnelly Training Area, Alaska, Feb. 17, 2024. For that reason, the Army appears to be encouraging its Arctic soldiers to be creative and able to adapt to whatever conditions or situations they might encounter.

Persons: —, Col, Sean Lucas, JPMRC, Brandon Vasquez, Spc.Wyatt Moore, Abreanna Goodrich, China —, I've, Zachary Burns, Sammantha Ohm, Joseph Gaskin Organizations: US, Army, Service, US Army Pacific's, Pacific Multinational Readiness Center, Business, 11th Airborne Division, U.S ., 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, U.S, US Army, U.S . Army, 3rd Battalion, 509th Parachute Infantry Regiment, 2nd Infantry Brigade Combat Team, 11th Airborne, Donnelly Training, Public Affairs Detachment, National Intelligence, Spc, Department of Defense, Army Spc, 5th Squadron, 1st Calvary Regiment, Delta Co Locations: Russia, China, Fairbanks , Alaska, Alaska, Hawaii, U.S, Utqiagvik, Soviet Union, Canada, Denmark, Russian, JPMRC

☆ Oil rises slightly ahead of demand estimates
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +1 min

Working oil pumpjacks on the outskirts of Maricopa in Kern County, California, on Sept. 21, 2023. Oil prices rose in early Asian trading, but price moves were limited as the market waited for monthly reports from oil agencies. "Crude oil traded in a tight range as traders await demand estimates from the monthly reports by three key oil agencies," analysts from ANZ said in a note. "While we believe the estimates will be largely unchanged, any upside surprise will ease demand concerns," ANZ said, referring to the Organization of Petroleum Exporting Countries, the International Energy Agency, and the Energy Information Administration. Prices had been mostly unchanged on Monday as oil supply concerns tied to ongoing fighting in the Middle East eased.

Persons: Brent, Israel Organizations: ANZ, Organization of Petroleum, International Energy Agency, Energy Information Administration Locations: Maricopa, Kern County , California, U.S, Gaza

☆ Oil prices fall on China demand worries
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

A view of oil wells at Arab Desert in Jebel Dukhan, Bahrain on March 4, 2024. Oil prices extended last week's losses on Monday on concern about slow demand in China, though lingering geopolitical risk surrounding the Middle East and Russia limited the decline. "Worries over weak demand in China outweighed the extension of supply cuts by OPEC+," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities, adding that mixed signs from U.S. jobs data prompted some traders to adjust positions. China last week set an economic growth target for 2024 of around 5%, which many analysts called ambitious without much more stimulus. Tension is also escalating in Russia and its neighbors, raising fear about a potential escalation in conflict outside of Ukraine, NS Trading's Kikukawa said.

Persons: Brent, Hiroyuki Kikukawa, Ismail Haniyeh, Kikukawa, Vladimir Putin Organizations: U.S, West Texas, NS, Nissan Securities, Organization of, Petroleum, Federal Reserve Locations: Jebel Dukhan, Bahrain, China, East, Russia, Hamas, Israel, OPEC, Gaza, Ukraine, France

☆ Federal Reserve Chair Jerome Powell Will Help Decide the 2024 Election
▼ + stars: | 2024-03-11 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

Beyond the academic argument, whether the Fed cuts interest rates has a significant political bearing this year. Voters are unhappy about higher prices, and they feel weighed down by high interest rates, too. Interest rates may seem abstract, but they can have a real impact on how people view their financial situations. But lowering interest rates should make people feel better about economic conditions and could give Democrats and Biden a boost. He's well aware lower interest rates would boost the economy, lift people's moods, and, ultimately, help the party in charge.

Persons: Jay Powell, — Donald Trump —, Powell, Joe Biden, Patrick McHenry, McHenry, Skanda Amarnath, it's, Larry Summers, Biden, Amarnath, — Trump, Hillary Clinton's, Richard Nixon, Ronald Reagan, Paul Volcker, Volcker, shied, Trump, Elizabeth Pancotti, Sarah Binder, Binder, what's, They've, Diane Swonk, Emily Stewart Organizations: Federal, Trump, Republican, Financial Services, Fed, Roosevelt Institute, George Washington University, Reserve, KPMG US, Business Locations: North Carolina, It's, America, Roosevelt

☆ Tighter control and high-tech push: Key takeaways from China’s biggest annual political event
▼ + stars: | 2024-03-11 | by ( Simone Mccarthy | Nectar Gan | ) edition.cnn.com time to read: +6 min

The event, held largely without Covid restrictions for the first time in years, is a rare chance for the world to glimpse into an increasingly opaque political system under Xi. Here are the major takeaways from the gathering:Tightening controlThe closing day of the National People’s Congress legislature on Monday was missing a key event – a press conference conducted by the Chinese premier. High-tech pushAn overarching theme of the gathering was a push to focus China’s economic model on technology innovation and transform the country into a high-tech powerhouse. That included a boost to China’s annual budget for science and technology by 10% to an unprecedented 370.8 billion yuan ($51.6 billion). Two high-ranking posts in China’s cabinet previously occupied by Li and Qin remain open.

Persons: Xi Jinping, Mao Zedong’s, Xi, Li, ”, Washington, Wang Yi, who’d, Qin Gang, Li Shangfu, Qin Organizations: Hong Kong CNN, of, National People’s, State Council, Observers, Chinese Communist Party, ”, National People’s Congress, Foreign Locations: China, Beijing, Hong Kong, United States

☆ Russian Embassy in US in Contact With State Department Ahead of Elections, Ambassador Says
▼ + stars: | 2024-03-10 | by ( March | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The Russian embassy in Washington is in "close contact" with the U.S. State Department ahead of the presidential election in Russia this week to ensure the security of the diplomatic mission, ambassador Anatoly Antonov said on Monday. President Vladimir Putin, who launched a full-scale invasion of Ukraine two years ago, is set to win a new six-year term in the March 15-17 vote. This would enable him to overtake Josef Stalin and become Russia's longest-serving leader for more than 200 years. "We are in close contact with the secret service of the State Department. We expect that the Americans will fulfil their obligations to ensure the security of the diplomatic mission."

Persons: Anatoly Antonov, Vladimir Putin, Josef Stalin, Antonov, Joe Biden's, Biden, Putin, Lidia Kelly, Gerry Doyle Organizations: Reuters, U.S . State Department, State Department, Union Locations: Russian, Washington, Russia, Ukraine, U.S, Moscow, Melbourne

Port-au-Prince CNN —They have the calm of people who have lived through terrible things. As gangs rampage in Haiti’s capital Port-au-Prince, several children and teenagers tell CNN they have been orphaned, wounded, raped and even recruited by members of these armed groups. Some are navigating life in neighborhoods ruled by gangs, doing their best to stay out of danger. Others work for the gangs, tasked with dangerous jobs such as spying on rival groups or the gory work of disposing of bodies. Meanwhile, across the country, many more children are going hungry, according to UNICEF, as food prices spike amid the insecurity.

Persons: Prince, Prince CNN —, Donald Saint Surin, Saint Surin, Woodjina, Jonel, hasn’t, ”, “, you’re, it’s, he’s, CNN’s Leinz Organizations: Prince CNN, CNN, UNICEF, OCCED’H, Organization, Hearts, ” Locations: Port, Jeremie, Shiloh, Martissant, Haiti, New York

☆ Meta's Facebook Messenger hit with layoffs amid ongoing 'efficiency' push
▼ + stars: | 2024-03-06 | by ( Kali Hays | Hugh Langley | ) www.businessinsider.com time to read: +1 min

Meta's ongoing efficiency drive has resulted in another round of layoffs. Messenger, the popular Facebook app, was hit this week with cuts. Messenger, the popular direct messaging app within Facebook, was hit with a round of layoffs this week, according to two people familiar with the company. The cuts at Messenger come after a similar layoff affected some employees working at Instagram, as Business Insider reported. This story is available exclusively to Business Insider subscribers.

Persons: —, Instagram, Messenger Organizations: Service, Meta, Facebook, Business, BI Locations: Instagram, Meta

☆ Oil fell slightly as China growth worries clash with output cuts
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: +3 min

Oil prices fell slightly on Wednesday as concerns about demand growth in China, the world's biggest crude importer, clashed with signs of supply tightness amid output cuts by major producers. Oil prices fell slightly on Wednesday as concerns about demand growth in China, the world's biggest crude importer, clashed with signs of supply tightness amid output cuts by major producers. The 'risk off' nature of recent trading was underscored by the fall in Treasury yields, which also pressured oil prices. "Crude oil futures edged lower amid the risk-off tone across markets. If the EIA reports a crude storage build, it will be the sixth straight week of rising oil stocks in the country.

Persons: Daniel Hynes Organizations: Brent, U.S, West Texas, Treasury, of, Petroleum, ANZ, American Petroleum Institute, U.S . Energy, Administration Locations: China, OPEC, Yemen, Saudi Arabia, Asia

☆ Oil extends fall as China's pledge to transform economy fails to impress
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +2 min

Working pumpjacks are seen at the Montebello Oil Field in Montebello, California, on Sept. 18, 2023. Oil prices fell for a second day on Tuesday as pledges by China, the world's biggest crude importer, to transform its economy amid stuttering growth since the COVID pandemic failed to impress investors concerned about slower consumption. Brent futures for May fell 3 cents to $82.77 a barrel by 0159 GMT, while U.S. West Texas Intermediate (WTI) fell 11 cents, to $78.63. The physical oil market has started to tighten, rising spot prices show, according to a note from ANZ analysts, owing in part to supply disruptions. U.S. crude oil inventories are expected to have increased last week, according to a preliminary Reuters poll on Monday, while distillates and gasoline stockpiles were forecast lower.

Persons: Brent, WTI Organizations: Montebello Oil, U.S, West Texas, National People's, of, Petroleum, ANZ, Reuters Locations: Montebello, Montebello , California, China, Israel, Gaza, OPEC

☆ At Least 126 Activists Killed in Latin America in 2023 -Report
▼ + stars: | 2024-03-05 | by ( March | At P.M. | ) www.usnews.com time to read: +1 min

MEXICO CITY (Reuters) - At least 126 human rights and environmental defenders were murdered in Latin America in 2023, according to data from the Inter-American Court of Human Rights (IACHR) published on Tuesday, matching the previous year's figure. The IACHR, an autonomous organ of the Washington-based Organization of American States, expressed alarm over "high rates of violence" against human rights defenders in the region, where 54 assassinations were reported just in the year's final three months. Colombia was the deadliest country for environmental and human rights activists, with murders rising to 34 last year from 26 in 2022. Brazil was second with 10 murders, followed by Mexico with four, and Guatemala, Honduras and Peru with three, two and one assassination respectively. The IACHR congratulated Mexico's budget increase aimed at bolstering a government program for the protection of human rights defenders and journalists, while expressing concern over the killings of four human rights defenders.

Persons: IACHR, Aida Pelaez, Fernandez, Sandra Maler Organizations: MEXICO CITY, Inter, American, of Human Rights Locations: MEXICO, America, Washington, Colombia, Brazil, Mexico, Guatemala, Honduras, Peru

☆ OPEC to Extend Oil Production Cuts Through June
▼ + stars: | 2024-03-03 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries, said Sunday that it would extend cuts in oil production through June, noting that it was acting “in coordination with some” other states. The decision to keep output cuts in place was expected and appears intended to bolster what might otherwise be weak oil prices. Some analysts forecast that the supply of oil will exceed demand in the first half of this year. Without continued cuts, prices might sink. Saudi Arabia described the move as “precautionary.” Holding back oil production has “the aim of supporting the stability and balance of oil markets,” the kingdom said in a statement carried by the official Saudi Press Agency.

Persons: ” Organizations: Organization of, Petroleum, United Arab Emirates, Saudi Press Agency Locations: Saudi Arabia, Saudi, Kuwait

That's why, in the fall of 2019, I decided to purchase a disability insurance plan. Why I bought disability insuranceI've written about disability insurance for years, but never really considered getting a plan myself. How I chose my disability insurance policyThere are two types of disability insurance, short-term and long-term. I bought long-term disability insurance with a 90-day waiting period. There are five states that require employers to provide short-term disability coverage, also known as temporary disability insurance.

Persons: I'm, —, You'd Organizations: Service, Social Security Administration, Social Security, Union Locations: New York

☆ ‘Eventually, one gets used to anything:’ How Ukrainians have learned to live with war
▼ + stars: | 2024-03-01 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +11 min

Dnipro, Ukraine CNN —The residential block in Dnipro looked like someone had taken a huge bite out of it. Their presence was a sign of how Ukrainians have become used to the realities of living through a war. Tsyplionkova said she considered leaving Dnipro after the war started but found she simply couldn’t go: this is her city. Lydmila Lashko, the head of the Dnipropetrovsk regional organization of the Ukrainian Red Cross Society, says two years of war have forced Ukrainians to get used to its brutal realities. “But eventually one gets used to everything.”Some 4.8 million Ukrainians are officially registered as internally displaced people, according to data from Ukraine’s Ministry of Social Policy.

Persons: Yevhenia Tsyplionkova, Tsyplionkova, “, Ivana Kottasová, CNN Tsyplionkova, ”, Lydmila Lashko, ” Lashko, Lashko, They’ve, Zhanna Vedmedieva, ” Vedmedieva, Volodymyr Zelensky, Oleksandr Savchenko, Ivana Kottasova, Yulia Murashkina, Murashkina, Ihor Omelchenko, wasn’t, Omelchenko, ” Omelchenko, Vedmedieva Organizations: Ukraine CNN, Russian, Ukrainian Railways, CNN, Ukrainian Red Cross Society, Dnipro, Ukraine’s Ministry of Social, Donetsk People’s, United Nations Human Rights Locations: Dnipro, Ukraine, Iranian, Dnipropetrovsk, Ukrainian, Demydiv, Kyiv, Donetsk, Kreminna, Severodonetsk, Luhansk, Russia, Russian, Dmytrivka, Novomykhailivka, Donetsk People’s Republic, Mariinka, France, Havriushyna

☆ Oil prices rise as Gaza deaths complicate ceasefire talks
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Friday and were set to end the week modestly higher as talks over a potential ceasefire in Gaza were further complicated by the deaths of more than 100 Palestinians waiting for an aid delivery. Oil prices rose on Friday and were set to end the week modestly higher as talks over a potential ceasefire in Gaza were further complicated by the deaths of more than 100 Palestinians waiting for an aid delivery. President Joe Biden said the U.S. was checking reports of Israeli troops firing on people waiting for food aid in Gaza, saying he believed the deadly incident would complicate talks of a ceasefire. Israel has blamed the deaths on crowds surrounding the aid trucks, saying victims were trampled or run over. On the supply side, a Reuters survey showed the Organization of the Petroleum Exporting Countries, OPEC, pumped 26.42 million barrels per day (bpd) this month, up 90,000 bpd from January.

Persons: Brent, Joe Biden Organizations: U.S, West Texas, U.S . Federal, of, Petroleum, Reuters Locations: Gaza, WTI, Red, U.S, Israel, Qatar, Beijing, U.S ., Libyan

☆ A beginner's guide to mastering your first ski trip, from packing to getting there safely
▼ + stars: | 2024-02-29 | by ( Sponsor Post | Created Insider Studios With Toyota | ) www.businessinsider.com time to read: +4 min

The snow's coming down, and the mountains are calling — a fun-filled ski trip awaits. Pack like a proWhether you're a seasoned professional or crossing your fingers for a perfect first trip, packing efficiently goes a long way. NorCal ToyotaChoose a car built to handle wintry conditionsNothing could slow a ski trip down more than getting stuck in the snow. All in all, the ultimate ski trip is easier than you might think with proper preparation. Learn more about how NorCal Toyota can make your ski trip one to remember.

Persons: you'll Organizations: Toyota, Insider Studios, Northern California Toyota Dealers Locations: Sequoia, Tacoma

☆ Oil on pace for monthly gain as OPEC+ expected to extend production cuts
▼ + stars: | 2024-02-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Crude oil futures are headed for a second consecutive monthly gain as OPEC+ is expected to extend its production cuts through at least the second quarter. U.S. and Brent have gained about 6% month to date with first month contracts trading at a premium to later months. OPEC+ is considering extending its production cuts through at least the second quarter, three sources told Reuters Wednesday. The cartel could keep the cuts in place for the rest of the year, two of the sources said.

Persons: Brent Organizations: Organization of, Petroleum, West Texas Intermediate, Reuters Locations: Algiers, Algeria, OPEC, U.S, Canada, Guyana, Brazil, Israel, Lebanon, Red, Iran

☆ Trump, adult sons and former Trump Org. officials appeal civil fraud judgment in New York
▼ + stars: | 2024-02-26 | by ( Kara Scannell | ) edition.cnn.com time to read: +1 min

CNN —Former President Donald Trump, his adult sons, and two former Trump Organization officials have appealed the $464 million judgment entered against them in the New York attorney general’s civil fraud case. Donald Trump is personally on the hook for $454 million, including interest payments. His sons were each ordered to pay more than $4 million back in gains they improperly received because of the fraud. Engoron’s signed judgment was posted to the court docket Friday, one week after he found Trump, Donald Trump Jr. and Eric Trump liable for fraud in the civil case brought by New York Attorney General Letitia James. His lawyers had argued it wouldn’t harm the New York attorney general’s office and would allow for an orderly process given the “magnitude” of the decision.

Persons: Donald Trump, Judge Arthur Engoron, “, Trump, Engoron’s, Donald Trump Jr, Eric Trump, Letitia James Organizations: CNN, Trump Organization, New, New York Locations: New York, York

☆ Police investigating after letter with white powder found at Donald Trump Jr.’s Florida home
▼ + stars: | 2024-02-26 | by ( Alayna Treene | Kristen Holmes | ) edition.cnn.com time to read: +1 min

CNN —Authorities are investigating after Donald Trump Jr. on Monday opened a letter with unidentified white powder at his Florida home. Trump Jr., a high-profile surrogate for his father’s presidential campaign, recently made headlines when he appeared as part of the New York attorney general’s civil fraud case. Trump, his brother Eric Trump, his father and two former Trump Organization officials have appealed the $464 million judgment entered against them. In 2018, Trump Jr.’s then-wife Vanessa Trump opened a letter addressed to Trump Jr. containing a suspicious substance, which the New York Police Department ultimately deemed nonhazardous. CNN’s Brynn Gingras, Sarah Jorgensen, Eli Watkins and Jack Forrest contributed to this report.

Persons: Donald Trump Jr, Andrew Surabian, ” Trump, Donald Trump, Kimberly Guilfoyle, USSS, Trump, Eric Trump, ’, Vanessa Trump, Brynn Gingras, Sarah Jorgensen, Eli Watkins, Jack Forrest Organizations: CNN — Authorities, Trump Jr, Sheriff’s Office, Daily, US, Service, New, Trump Organization, New York Police Department Locations: Florida, Jupiter , Florida, Beach, New York

☆ 27 foreign-language shows you should be watching on Netflix
▼ + stars: | 2024-02-23 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: 1 min

South Korean series "Squid Game" became Netflix's biggest hit of all time when it debuted in 2021. "Squid Game." Youngkyu ParkWithout giving away too much, "Squid Game" is about a group of individuals who all have one thing in common: They're each in massive amounts of debt. According to the streamer, "Squid Game" is its most popular show ever, with 142 million households tuning in in the first four weeks. It's also spawned a reality show inspired by the game, and season two is set for 2024.

Persons: It's Organizations: Rotten

☆ US officials combing leaked documents from Chinese tech firm for clues about Chinese hacking campaigns
▼ + stars: | 2024-02-22 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +6 min

CNN —US officials have been scouring a trove of newly leaked documents from a Chinese tech firm for clues on how the government in Beijing allegedly uses the company in extensive hacking campaigns, multiple US cybersecurity officials familiar with the matter told CNN. The documents, posted anonymously online last weekend for anyone to access, include screenshots of chat logs, as well as records of employees and Chinese government clients of the tech firm I-Soon. “This is some of the best visibility we’ve had into Chinese hacking operations outside of a government SCIF,” said Adam Kozy, who used to track Chinese hackers for the FBI, using an acronym for classified facilities. In a leaked marketing presentation, I-Soon touted its participation in an unspecified hacking project for China’s Ministry of Public Security in 2018. The project “achieved significant results” and received “recognition and praise” from Chinese officials, according to a presentation slide.

Persons: Biden, ”, Adam Kozy, I’m, ” Liu Pengyu, Wu Haibo, Beijing’s, Christopher Wray, Dakota Cary, ” GitHub, “, Wu, Obama, Xi Jinping, Adam Meyers, CrowdStrike, Meyers Organizations: CNN, FBI, Embassy, Telecom, China’s Ministry of Public Security, US Justice Department, US Locations: Beijing, Taiwan, India, Hong, Sichuan, China, Washington ,, Shanghai, Dakota, Asia, South Korea, Kazakhstan, Afghanistan

☆ Israeli Rape-Crisis Group Report Finds ‘Systematic’ Sexual Violence on and After Oct. 7
▼ + stars: | 2024-02-21 | by ( Adam Sella | ) www.nytimes.com time to read: +1 min

An Israeli organization that supports survivors of sexual abuse released a report on Wednesday that concluded that acts of sexual violence against Israelis during and after the Hamas-led attack on Oct. 7 were “systematic and widespread.”“The report finds that the Hamas attack included brutal acts of violent rape, often involving threats with weapons, specifically directed towards injured women,” said the group, The Association of Rape Crisis Centers in Israel, an umbrella organization of nine such organizations in Israel. The report added that many incidents involved gang rape. “Often, the rape was perpetrated in front of an audience — partners, family or friends — in a manner intended to increase the pain and humiliation of all present,” the report said. The attackers “cut and mutilated sexual organs and other body parts with knives,” the report said. The report asserted that its information and analysis “clearly demonstrates that sexual abuse was not an isolated incident or sporadic cases but rather a clear operational strategy.”

Persons: ”, — Organizations: The Association Locations: Israeli, Israel

☆ Barclays jumps 8.6% after announcing major strategic overhaul
▼ + stars: | 2024-02-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

LONDON — Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender announced an extensive strategic overhaul, boosting its shares more than 8.6% through the day. For the full year, net attributable profit came to £4.27 billion, down from £5.023 billion in 2022 and below a consensus forecast of £4.59 billion. Credit impairment charges were £552 million, up from £498 million in the fourth quarter of 2022. The business will now be divided into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. Barclays is targeting total gross cost savings of £2 billion and an RoTE of greater than 12% by 2026.

Persons: C.S, Venkatakrishnan, Mariva Rivas, DBRS Morningstar, Rivas Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, LONDON, Barclays, Reuters, Momentum, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank, CNBC, U.S Locations: Wharf

European stocks ended the day slightly lower on Tuesday as sentiment struggled to pick up in global markets. Mining stocks fell 1.84%, as tech dropped 1.7%, while chemicals jumped 2.5%. Asia-Pacific markets fell Tuesday, as investors parsed the Chinese central bank's decisions on key lending rates. In the U.S., stocks were lower as the market came off its first losing week in more than a month. U.S. markets were closed Monday for the Presidents Day holiday.

Organizations: Barclays, U.S . Federal Locations: Asia, Pacific, U.S

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