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☆ West’s latest China corporate risk: medical graft
▼ + stars: | 2023-10-23 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

An employee wearing a face mask is seen at a workshop of computed tomography (CT) scanners of medical device firm Siemens Healthineers in Shanghai, China, February 24, 2020. REUTERS/Aly Song Acquire Licensing RightsLONDON, Oct 23 (Reuters Breakingviews) - China corporate risk has spread to Western medical device companies. According to BMI analysts, about two-thirds of Chinese medical devices used by local hospitals and clinics are imported from Western groups. That implies a direct hit to the order and revenue growth for medical device firms. Domestic brands, which have historically lagged in the advanced end of the medical device market, took the whole of last decade just to hike their share from around 20% to 30%, Deloitte says.

Persons: Aly, Philips, George Hay, Oliver Taslic Organizations: Siemens, REUTERS, Reuters, Volkswagen, Philips, GE Healthcare, BMI, National Health Commission, Siemens Healthineers, Reuters Graphics Reuters, Deloitte, GE, Healthineers, Thomson Locations: Shanghai, China, People’s Republic, Beijing, United States

☆ Common contaminants linked to accelerated weight gain in children
▼ + stars: | 2023-10-19 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

The research network aims to examine the lifetime impact of exposure in the womb to chemical contaminants in air, water and food. Both DDT and HCB contamination in people occurs “mainly through bioaccumulation in the food chain via fish, fish products, meat (and) dairy products,” Montazeri said. The July 2022 report also found PFAS exposure was sufficiently associated with decreased infant and fetal growth as well as decreased antibody response to vaccines in both adults and children. Pregnant people can take steps to reduce their exposure to various chemicals in commercial products, food and water. “Phthalates and phenols come from plastics and personal care products,” Montazeri said.

Persons: ”, Parisa Montazeri, “, Montazeri, Leonardo Trasande, HCB, ” Montazeri, Trasande Organizations: CNN, Barcelona Institute, Global Health, BMI, NYU Langone Health, Environmental, US Centers for Disease Control, CDC, US Environmental Protection Agency, National Academies of Sciences, Engineering, Medicine, Getty, NYU’s Grossman School of Medicine, National Sanitation Foundation Locations: Spain, United States, PFAS

☆ Southeast Asia looks to renewable power for energy security
▼ + stars: | 2023-10-17 | by ( Audrey Wan | ) www.cnbc.com time to read: +4 min

As energy demand grows, the region is turning to renewable energy to safeguard its energy security. Most, if not all, Southeast Asian markets have taken strides to announce renewable energy targets and formulate their low-carbon energy transition plans, said Thoo. Other planned developments include an integrated renewable energy zone, five centralized large-scale solar parks and three green hydrogen production plants. These projects will leverage Malaysia's estimated 290 gigawatts of technical renewable energy potential to create a more resilient, low-carbon power system, said the ministry. Renewable energy sources such as wind and solar are projected to account for at least 31% of national energy needs by 2030, the government said, according to Reuters.

Persons: EDPR, Bryan van der Beek, Zulfikar Yurnaidi, David Thoo, Zulfikar Organizations: EDPR Sunseap, Energias de Portugal SA, Bloomberg, Getty, Energy, International Energy Agency, ASEAN Center for Energy, BMI Fitch Solutions, Zulfikar Yurnaidi ASEAN Center for Energy, Indonesia Malaysia Malaysia, Ministry, Reuters Locations: Energias, Woodlands, Singapore, Asia, Southeast Asia, Ukraine, Israel, Europe, Malaysia, Indonesia, Vietnam

☆ Researchers link popular weight loss drugs to serious digestive problems for ‘hundreds of thousands’ worldwide
▼ + stars: | 2023-10-05 | by ( Brenda Goodman | ) edition.cnn.com time to read: +11 min

They can help people with diabetes control their blood sugar and lead to substantial weight loss for people with or without diabetes. Liraglutide was FDA approved as a weight loss medicine since 2014. What’s been less clear is whether patients taking these drugs for weight loss may have the same serious side effects. CNN reached out to Novo Nordisk, the manufacturer of both injectable weight loss drugs examined in this study, for comment. Sodhi said they started the man on a medication that treats stomach paralysis, “and he got a lot better,” Sodhi said.

Persons: Ozempic, ”, Mahyar, —, It’s, Liraglutide, it’s, Mohit Sodhi, Sodhi, Ian Musgrave, Musgrave, What’s, “, ” Sodhi, Dr, Sanjay Gupta Organizations: CNN, University of British, US Food and Drug Administration, FDA, “, University of Adelaide, Science Media Centre, BMI, Novo Nordisk, CNN Health Locations: University of British Columbia, Australia, Novo

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Brent crude oil futures were up 55 cents to $91.26 a barrel by 1:01 p.m. EDT (1701 GMT), after falling to a session low of $89.50, the lowest price since Sept. 8. Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand. Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters on Tuesday, a day after Turkey said operations would start again this week after nearly a six-month stoppage. U.S. crude inventories were expected to have fallen by about 500,000 barrels last week, a preliminary Reuters poll showed on Monday.

Persons: Alexander Manzyuk, Phil Flynn, Alexander Novak, Stephanie Kelly, Natalie Grover, Laura Sanicola, Trixie Yap, Marguerita Choy, Mark Potter, Paul Simao Organizations: REUTERS, Brent, . West Texas, U.S ., Federal Reserve, Price Futures Group, Investors, Organization of, Petroleum, Reuters, Gulf Cooperation, BMI Research, Thomson Locations: Republic of Tatarstan, Russia, Saudi Arabia, OPEC, Asia, Turkey, Gulf, Iraq

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Brent crude oil futures were down 10 cents to $90.61 a barrel by 11:15 a.m. EDT (1515 GMT), after falling to a session low of $89.50, the lowest since Sept. 8. Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand. Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters on Tuesday, one day after Turkey said operations would start again this week after a near six-month stoppage. U.S. crude inventories were expected to have fallen by about 100,000 barrels last week, a preliminary Reuters poll showed on Monday.

Persons: Alexander Manzyuk, Phil Flynn, Craig Erlam, Stephanie Kelly, Natalie Grover, Laura Sanicola, Trixie Yap, Marguerita Choy, Mark Potter Organizations: REUTERS, Wednesday, Brent, . West Texas, U.S ., U.S, Reserve, Futures, Investors, Organization of, Petroleum, Reuters, Gulf Cooperation, BMI Research, Thomson Locations: Republic of Tatarstan, Russia, OPEC, Saudi Arabia, Asia, Turkey, Gulf, Iraq, .

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo Acquire Licensing RightsOct 3 (Reuters) - Oil prices slipped 1% in early Asian trade on Tuesday, after falling to a three-week low in the previous session, on a stronger U.S. dollar, rising U.S. bond yields and mixed supply signals. "(Brent) crude oil prices slid to (around) $90 a barrel as rising US yields and a stronger US dollar dominated market sentiment," ANZ analysts said in a client note. Higher interest rates along with a stronger dollar also makes oil more expensive for holders of other currencies, which could dent oil demand. BMI Research analysts said "given that the global economy is slowing, the group will likely want to maintain their current cuts, while signposting the scope for further reductions, if market conditions demand it."

Persons: Alexander Manzyuk, Brent, Laura Sanicola, Trixie Yap, Shri Navaratnam, Simon Cameron, Moore Organizations: REUTERS, . West Texas, ANZ, U.S ., U.S, Reserve, BMI Research, Organization of, Petroleum, Thomson Locations: Republic of Tatarstan, Russia, Iraq, OPEC

☆ TikTok's Southeast Asia ambitions to take a major hit with Indonesia ban
▼ + stars: | 2023-09-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Aditya Aji | Afp | Getty ImagesTikTok's Southeast Asian ambitions will take a major hit after Indonesia bans shopping transactions on social media apps, analysts told CNBC. Indonesia has banned e-commerce transactions on social media platforms such as TikTok Shop and Facebook . Even if it can secure a separate license to operate, operating as a standalone app may still be challenging. "Even if it can secure a separate license to operate, operating as a standalone app may still be challenging," said Mittal. New social media rulesOn Saturday, Indonesia's President Joko Widodo called for social media regulations, saying such platforms impact micro-, small- and medium-sized companies and the economy.

Persons: Aditya Aji, Jonathan Woo, Sachin, Sachin Mittal, TikTok, Mittal, Joko Widodo Organizations: Facebook, Afp, Getty, CNBC, Phillip Securities Research, Sachin Mittal DBS Bank, U.S, DBS Bank, BMI, Momentum Works Locations: Bogor, West Java, Indonesia, Jakarta, China, Southeast Asia, U.S, Singapore, Montana, India

☆ Hot flashes are more dangerous than previously thought
▼ + stars: | 2023-09-27 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +6 min

Welcome to the hot flashes and other symptoms of approaching menopause — an experience experts say about 75% of women will share if they live long enough. Intense hot flashes could indicate an increased risk of Alzheimer's and heart disease in the future, new research found. The women were also fitted with sweat monitors to record their hot flashes on one of those nights. Frequent moderate to severe hot flashes can often last seven to 10 years, on average, and less frequent or severe hot flashes can last even longer, according to experts. “A lot of people actually underreport their hot flashes, saying they’re not having many when they really are,” Faubion said.

Persons: Peter Dazeley, ”, Stephanie Faubion, Faubion, Rebecca Thurston, “, Thurston, ” Faubion, they’ve, Thurston’s, they’re, Mary Carson Organizations: CNN, Bank, Getty, Mayo, Specialty Clinic, “, University of Pittsburgh’s Pitt Public Health, University of Pittsburgh Locations: Philadelphia, Jacksonville , Florida

[1/4] Bening Widayati, 40, sells clothes live on a social media platform inside her stall at the International Trade Center (ITC) mall in Jakarta, Indonesia, September 27, 2023. The government said the move, which takes effect immediately, is aimed at protecting offline merchants and marketplaces, adding that predatory pricing on social media platforms is threatening small and medium-sized enterprises. The move comes just three months after TikTok pledged to invest billion of dollars in Southeast Asia, mainly in Indonesia, over the next few years in a major push to build its e-commerce platform TikTok Shop. He warned of letting social media become an e-commerce platform, shop, and bank all at the same time. Indonesia Deputy Trade Minister Jerry Sambuaga earlier this month named TikTok's live streaming features as an example of people selling goods on social media.

Persons: Widayati, Willy Kurniawan, TikTok, China's ByteDance, Zulkifli Hasan, Zulkifli, Jerry Sambuaga, Fahmi, Edri, Dewi Kurniawati, Stefanno Sulaiman, Fransiska Nangoy, Stanley Widianto, Johan Purnomo, Kanupriya Kapoor, Alexandra Hudson, Miyoung Kim, Mark Porter Organizations: International Trade Center, REUTERS, Indonesia Trade, Wednesday, Reuters, Indonesia Deputy Trade, Research, BMI, HK, Lazada, Momentum Works, Thomson Locations: Jakarta, Indonesia, Southeast Asia, JAKARTA, Shop, TikTok, Europe, United States

☆ Indonesia bans e-commerce transactions on social media in major blow to TikTok
▼ + stars: | 2023-09-27 | by ( ) edition.cnn.com time to read: +3 min

Jakarta Reuters —Indonesia has banned e-commerce transactions on social media platforms, the trade minister said on Wednesday, in a blow to short video app TikTok, which is doubling down on Southeast Asia’s biggest economy to boost its e-commerce business. TikTok, owned by China’s ByteDance, has 125 million active monthly users in Indonesia and has been looking to translate the large user base into a major e-commerce revenue source. He warned of letting social media become an e-commerce platform, shop and bank all at the same time. Indonesia Deputy Trade Minister Jerry Sambuaga earlier this month named TikTok’s live streaming features as an example of people selling goods on social media. E-commerce transactions in Indonesia amounted to nearly $52 billion last year and of that, 5% took place on TikTok, according to data from consultancy Momentum Works.

Persons: TikTok, China’s ByteDance, “, Zulkifli Hasan, Zulkifli, Jerry Sambuaga, Sea’s Shopee, Fahmi, ” Organizations: Jakarta Reuters —, Indonesia Trade, Wednesday, Reuters, Indonesia Deputy Trade, Research, BMI, Momentum Works Locations: Jakarta, Jakarta Reuters — Indonesia, Southeast Asia, Indonesia, Shop, TikTok, Europe, United States

☆ This is the world's fastest growing economy, and it could grow an 'explosive' 100%
▼ + stars: | 2023-09-27 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

The world's fastest growing economy may be on track to grow by more than 100% by 2028, largely fueled by profits from its oil production and export sector, according to one analysis. BMI, a Fitch Solutions research unit, is also of the view that "Guyana will see explosive growth this year," said Andrew Trahan, its head of Latin America country risk. He expects real GDP in Guyana to rise about 115% in the next five years. "The exact magnitude of the increase [is] dependent on how quickly additional oil production is brought online," he added. Guyana's Stabroek Block is a 6.6 million acre offshore oil reservoir off the country's Atlantic coast, and is estimated to hold 11 billion barrels of oil, according to ExxonMobil.

Persons: Andrew Trahan Organizations: International Monetary Fund, IMF, BMI, Fitch Solutions, ExxonMobil, Guyana's Locations: Guyana, South America, America

☆ Indonesia's EV ambitions could help boost investments in the rest of Southeast Asia
▼ + stars: | 2023-09-25 | by ( Quek Jie Ann | ) www.cnbc.com time to read: +1 min

Korean automobile manufacturer Kia displays the electric vehicle "EV6 GT-Line" during the 30th Gaikindo Indonesia International Auto Show in Tangerang on August 10, 2023. Indonesia's EV-friendly policies have lured global investors to the country, but experts say they could also boost investments in Southeast Asia's automotive industry more broadly. Indonesia could be the "gateway" to the rest of the Association of Southeast Asian Nations, said Anindya Novyan Bakrie, CEO and president director of Bakrie & Brothers, an Indonesian conglomerate whose electric vehicle unit VKTR manufactures electric buses as well as EV parts. The Southeast Asian country is rich in copper, nickel, cobalt and bauxite — materials essential for the manufacturing of electric vehicle batteries. Indonesia is the largest nickel exporter, accounting for 22% of the world's reserves, according to a report by the ASEAN Briefing.

Persons: Anindya Novyan Bakrie, Tesla Organizations: Kia, Indonesia's, Association of Southeast Asian Nations, Bakrie, Brothers, ASEAN, BMI Fitch Solutions, CNBC Locations: Indonesia, Tangerang, Indonesian

☆ Prices tumble for cobalt used for electric vehicle batteries
▼ + stars: | 2023-09-25 | by ( Pratima Desai | ) www.reuters.com time to read: +2 min

REUTERS/Vincent West Acquire Licensing RightsLONDON, Sept 25 (Reuters) - Prices of the cobalt hydroxide used to make chemicals for electric vehicle batteries have plummeted due to an upsurge of supplies from top producer Democratic Republic of Congo. Cobalt hydroxide is produced in Congo, where it is a byproduct of copper. According to Benchmark Mineral Intelligence (BMI), payables in August dropped to 46% of the cobalt metal price compared with around 90% in late 2021 and early 2022 when cobalt metal traded around $60,000 a metric ton. "These developments pose long-term challenges to cobalt demand," analysts at Morgan Stanley said in a note. "We see cobalt prices remaining under pressure as supply growth and CMOC destocking come through."

Persons: Vincent West, Roman Aubry, Tenke, Morgan Stanley, destocking, Pratima Desai, Bernadette Baum Organizations: REUTERS, Democratic, Benchmark Mineral Intelligence, BMI, China's CMOC, Thomson Locations: Bilbao, Spain, Democratic Republic of Congo, Congo, payables, Indonesia, DRC

☆ Artificially sweetened ultraprocessed foods linked to depression in women, study finds
▼ + stars: | 2023-09-20 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +7 min

CNN —Eating greater amounts of ultraprocessed food and drinks, especially if those items are artificially sweetened, may be linked to the development of depression, according to a new study. Ultraprocessed foods include hot dogs, sausages, French fries, sodas, store-bought cookies, cakes, candies, ice cream and many foods containing artificial sweeteners. For one, there is a known link between ultraprocessed foods and chronic inflammation, Chan said. For example, studies have linked ultraprocessed foods colorectal cancer in men and heart disease and early death in both men and women. In addition, the study is observational, which means that researchers can only find an association between the onset of depression and the intake of ultraprocessed foods.

Persons: ” Gunter Kuhnle, ”, Andrew T Chan, Daniel K, Harvard T.H, Chan, Kuhnle, ” Marion Nestle, Paulette Goddard, ” Chan, David Katz, ” Katz, ” It’s, Katz, It’s, Paul Keedwell, Keith Frayn, Frayn, ” Frayn Organizations: CNN, University of Reading, Harvard Medical School, Harvard, of Public Health, Massachusetts General Hospital, New York University, ” Association, JAMA, Nurses, True Health Initiative, Royal College of Psychiatrists, BMI, University of Oxford Locations: Chan, Boston, Massachusetts, McDonald’s

☆ Exercising in the morning may be best for weight loss, study finds
▼ + stars: | 2023-09-19 | by ( Kristen Rogers | ) edition.cnn.com time to read: +6 min

CNN —If your main fitness goal is weight loss, you may want to consider the time of day you’re exercising. Positive links between moderate-to-vigorous physical activity and weight loss have been previously reported by other researchers. In the latest study, morning exercisers were the most sedentary even though they had the lowest BMI and waist circumference. Greater weight loss can also result from doing exercise that’s more concentrated or structured, the authors said — another pattern they found among the morning group. If you can fit it in, “early morning aerobic exercise — such as biking, running or even brisk walking to start with — is a promising tool for weight loss,” Ma said.

Persons: ”, Rebecca Krukowski, —, Dr, Tongyu Ma, Krukowski, they’re, “, ” Ma Organizations: CNN’s, CNN, US Center for Disease Control, National Health, BMI, Hong Kong Polytechnic University, Equity Center, University of Virginia’s School of Medicine, “, —

☆ 1 in 4 people who eat healthy meals blow it on snacks, study says
▼ + stars: | 2023-09-15 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +4 min

By choosing ultraprocessed and sugary snacks, 1 in 4 of us may be undoing all the benefits of healthy eating, according to a new study. More than 90% of adults in the United States report eating one or more snacks on any given day. In the United Kingdom, where the study was done, some 47% of participants ate two snacks a day and 29% of people snacked even more often. Over 25% of the study participants reported eating healthy main meals and snacking on highly processed food and sugary treats that can increase hunger, the study found. Make healthy choices when eating snacks as well as meals to maintain your health properly, experts say.

Persons: ”, Sarah Berry, David Katz, Katz, Zoe, Harvard T.H, ” Katz, “ Organizations: CNN, King’s College London, True Health Initiative, European, of Nutrition, Tufts University, Harvard, of Public Health, BMI Locations: United States, United Kingdom, Chan, Boston, Spain, Sweden

☆ Bad habits of night owls may lead to type 2 diabetes, study says
▼ + stars: | 2023-09-11 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +6 min

While researchers found significant associations between developing diabetes in night owls who worked during the day, they did not find an association for night owls who went to work later in the day or worked overnight shifts. One published in June found night owls were more likely to die early, mostly due to bad habits they developed when they stayed up late, such as drinking and smoking. A 2022 study determined night owls were more sedentary, had lower aerobic fitness levels and burned less fat at rest and while active than early birds. Night owls were also more likely to be insulin-resistant, a precursor to diabetes. Night owls have higher levels of visceral body fat in the abdominal region, a key risk factor for type 2 diabetes and heart disease.

Persons: ”, Sina Kianersi, ” Kianersi, Kianersi, Bhanu Prakash Kolla, ” Kolla, that’s, “, chronotype, Tianyi Huang Organizations: CNN, Brigham, Women’s Hospital, Harvard Medical School, Center for Sleep Medicine, Mayo Clinic, Internal, Nurses, BMI, Women’s Locations: Boston, Rochester , Minnesota

☆ ‘MeToo’ for mothers: Australian inquiry hears troubling accounts of birth trauma
▼ + stars: | 2023-09-08 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +11 min

NSWParliament/YouTubeWhat is birth trauma? Amy Dawes founded the Australasian Birth Trauma Association (ABTA) after sustaining life-altering injuries during the forceps delivery of her first child in 2015. Amy Dawes, founder of the Australasian Birth Trauma Association, with her two children ages 9 and 6. In fact, we are breaking mothers.”Fiona Reid, a clinical midwife with decades of experience, said birth trauma was not only affecting others but also midwives. Reid said birth trauma will never be eliminated – “it’s an impossible request.”But she said attention should focus on eliminating preventable birth trauma and raising standards so the measure of success isn’t merely survival.

Persons: Naomi Bowden, Stella’s stillbirth, ”, ‘, Bowden, ” Hannah Dahlen, Dahlen, ” Dahlen, Dr Hannan Dahlen, “, ” “, Jared Watts, Carly Griffin, New South Wales Carly Griffin, I’m, ’ ”, Jessica Holliday, New South Wales Jessica Holliday, ” Holliday, ” Amanda Macaulay's, Amanda Macaulay, she’d, Emma Hurst, Amy Dawes, there’s, ” Dawes, Fiona Reid, –, Reid, ” Reid, ” Fiona Reid, “ I’ve, they’re, I’ve, isn’t Organizations: Australia CNN, “, Western Sydney University, Royal Australian, New Zealand College of Obstetricians, OB, BMI, CNN, NSW, Trauma, Organization for Economic Co, Development, World Health Organization, WHO, Australian Locations: Brisbane, Australia, Australian, New South Wales, Americas, Europe, Asia, NSW

☆ India's policy contradictions are making it harder for investors to crack its market
▼ + stars: | 2023-09-08 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

At a time when shifting geopolitical alliances are elevating India's strategic importance, such curbs add to the contradictions global investors have to negotiate as they hunt for viable alternatives to a slowing China. They said the move will add to end-product costs for foreign vendors and shift consumer spending toward Indian firms or established foreign vendors with a manufacturing base in India. To attract foreign investors, Modi's government doubled to 170 billion rupees ($2.04 billion) its initial budget in May for a production-linked incentive scheme for IT hardware that was approved in 2021. watch now"India's large and growing domestic market, limited political instability and long-term policy continuity bolsters India's appeal to investors," Dasgupta said. Attracted by such lofty projections, global investors have also poured into Indian equity markets this year.

Persons: Javier Ghersi, Narendra Modi's, There's, Pravin Krishna Johns, it's, Pravin Krishna, Krishna, Rajeev Chandrasekhar, Taiwan's Foxconn, iPhones, Sumedha Dasgupta, Dasgupta, Modi, Goldman Sachs, — Organizations: Apple, Samsung, Dell, Pravin Krishna Johns Hopkins University's School, Johns Hopkins University's School, International, BMI Industry Research, South, BMI, Sumedha Dasgupta Economist Intelligence, Economist Intelligence Unit, CNBC, Bharatiya Janata Party, U.S, The, Monetary Fund, Capital Locations: India, China, Russia, Ukraine, Vietnam

☆ Oil falls on concerns about China, winter demand
▼ + stars: | 2023-09-07 | by ( Trixie Sher Li Yap | ) www.reuters.com time to read: +3 min

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. Brent crude futures fell 36 cents to $90.24 a barrel by 0645 GMT, after a nine-session winning streak. U.S. West Texas Intermediate crude (WTI) futures fell 37 cents to $87.17 a barrel after seven sessions of gains. Concerns about rising oil output from Iran and Venezuela, which could balance out a portion on cuts from Saudi and Russia, kept a lid on the market as well. Helping support prices, U.S. crude oil inventories were projected to have fallen by 5.5 million barrels in the week ending Sept. 1, according to market sources citing American Petroleum Institute figures.

Persons: Agustin Marcarian, Brent, Leon Li, Li, Trixie Yap, Stephanie Kelly, Jacqueline Wong, Muralikumar Anantharaman, Edwina Gibbs Organizations: REUTERS, . West Texas, Markets, U.S, American Petroleum Institute, U.S . Energy, Administration, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, SINGAPORE, China, Saudi Arabia, Russia, Shanghai, Iran, Venezuela, Saudi, OPEC, Caracas, Singapore, New York

☆ India's consumer market set to become the world's third largest by 2027, behind the U.S. and China
▼ + stars: | 2023-09-07 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

People check Apple Macbook laptops at the new Apple Inc. store in New Delhi, India on April 20, 2023. India's consumer market is set to become the world's third largest by 2027 as the number of middle to high-income households rise, according to a report by BMI. The country currently ranks fifth, but the Fitch Solutions company predicts a 29% increase in real household spending will push India up two spots. "Overall, the gap between total household spending across ASEAN and India will also almost triple," the report said. BMI estimates India's household spending will exceed $3 trillion as disposable income rises by a compounded 14.6% annually until 2027.

Organizations: Apple Inc, BMI, Fitch Solutions, ASEAN Locations: New Delhi, India, Indonesia, Philippines, Thailand, Mumbai, Bengaluru

☆ Insider Today: IPOs' make-or-break moment
▼ + stars: | 2023-09-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Speaking of fighting, the IPO market has been KO'd since 2022. But that could change with one company's upcoming public debut. Even if it slightly misses those numbers, it'll still be the largest public debut in the US since Rivian's IPO in late 2021. The stock market recovered in record time, but then something else held up IPOs: VC money. Tech has already led the stock market for about a decade — starting when Apple became the biggest company in the world.

Persons: Mark Zuckerberg, Phil Rosen, IPOs, Andrew Burton, Brent, Gabe Ginsberg, Tony Avelar, Mustafa Suleyman, It'll, Arantza Pena Popo, Insider's Eliza Relman, Vivek Murthy, Lovell, Christian Lovell, Freddie, Lil Wayne, Buster's, Elaine LaLanne, She's, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Apple, Publishing, Getty, Bloomberg, Cash, Google, Nvidia, Getty Images, Tech, US, BMI Locations: Wall, Silicon, British, Russia, Saudi Arabia, China, London, New York City, San Diego, New York

☆ Novo Nordisk, the maker of Wegovy and Ozempic is now Europe's most valuable company
▼ + stars: | 2023-09-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Novo Nordisk has dethroned Bernard Arnault’s luxury goods giant LVMH as Europe’s most valuable company. At the close of trading Monday, Novo Nordisk (NVO) had a market capitalization of 2.96 trillion Danish krone ($428 billion). “We are just scratching the surface,” Novo Nordisk CEO Lars Fruergaard Jørgensen told CNN’s Meg Tirrell in a recent interview. Novo Nordisk has raked in almost 49 billion Danish krone ($7 billion) in profit over the first six months of this year, up 30% from the same period in 2022. Booming sales of its drugs have led to an influx of US dollars into Denmark’s economy, pushing up the value of the Danish krone.

Persons: Bernard, Wegovy, Louis Vuitton, Hennessy, —, “, Steve Barclay, Carsten Snejbjerg, Lars Fruergaard Jørgensen, CNN’s Meg Tirrell, …, ” Organizations: London CNN — Novo Nordisk, Novo Nordisk, Louis, Health Service, Health, Social Care, Nordisk, Nordisk's, Bloomberg, Getty, World Health Organization, Danish krone, European Central Bank, Novo, UBS, Wegovy Locations: Danish, Ozempic, Wegovy, United States, Copenhagen, Denmark, Denmark’s, Novo Nordisk’s

☆ Business is booming for the maker of weight-loss drugs Wegovy and Ozempic — so much so that it is threatening luxury giant LVMH's crown as Europe's most valuable firm
▼ + stars: | 2023-09-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Novo Nordisk has been trading places with LVMH for the title of Europe's most valuable company. The Danish pharmaceutical giant makes the buzzy weight-loss drugs Wegovy and Ozempic. AdvertisementAdvertisementNovo Nordisk, the maker of weight-loss drug Wegovy and diabetes drug Ozempic, has been trading places with French luxury-goods conglomerate LVMH for the title of now Europe's most valuable firm. The UK's NHS recently said that it plans to begin giving out some limited supplies of Wegovy for weight management. Arnault and his family own around 48% of the company's total shares.

Persons: Wegovy, Louis Vuitton, Ozempic, Elon Musk, Bernard Arnault, Arnault Organizations: Novo Nordisk, Morning, Nordisk, Dior, Tiffany, FDA, NHS Locations: LVMH, Danish, GLP, North America

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