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☆ Biden says oil companies should ramp up production and cut prices at the pump instead of buying back stock, paying dividends
▼ + stars: | 2022-10-19 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

President Joe Biden said oil companies need to use their record profits to ramp up production rather than to enrich shareholders. "My message to the American energy companies is this: You should not be using your profits to buy back stock or for dividends. "So far American companies are using that windfall of profits to buy back their own stock, passing that money on to their shareholders, not to consumers," he said. Biden also officially announced the release of 15 million barrels of crude oil from the Strategic Petroleum Reserve. "My message to oil companies is this: You're sitting on record profits and we're giving you more certainty so you can act now to increase oil production now," he said.

☆ Netflix has a wee bit of room to be smug
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Oct 18 (Reuters Breakingviews) - Netflix (NFLX.O) is fluffing it's feathers. The company co-founded by Reed Hastings snapped out of its subscriber losing streak, generating nearly $500 million in free cash flow after netting 2.4 million new subscribers in the third quarter. The reversal is a welcome change, and gives it a little bit of room to strut its stuff ahead of an impending price war. That gives it but a tiny bit of time to be smug. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

A Russian military bomber crashed Monday into the courtyard of an apartment complex in the Russian resort town of Yeysk, which is a few dozen miles across the Sea of Azov from Ukraine, Russia's Defense Ministry said. Calling it an accident, the Defense Ministry said the pilot had been performing a training flight of the SU-34 aircraft when the engine ignited during takeoff. “They were poisoned by combustion products," the deputy governor of the Krasnodar territory, Anna Minkova, said on her Telegram channel. The Armed Forces of Ukraine and its Defense Ministry did not immediately respond to requests for comment. There was a large fire at a Russian military enlistment office in June, according to a report from Komsomolskaya Pravda, a Russian tabloid.

☆ A portfolio manager beating 99% of his peers this year breaks down why the market has another 15% to 20% of downside ahead — and shares the biggest mistake investors could make once the Fed begins to
▼ + stars: | 2022-10-17 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Drawing from the dot-com crash, he believes the current bear market still has 15%-20% more downside. Abate also shared the biggest mistake investors could make once the Fed begins to ease once more. Today's bear market mirrors the dot-com crashPart of Abate's investment process involves drawing parallels between the current market and historical recessions. "I still think that we are in the midst of a bear market. Similarly, both bear markets were also kicked off by an "excessive period of poor allocation of investment capital," Abate said.

☆ 60 years after the Cuban missile crisis, the nuclear dangers posed by the war in Ukraine are 'far worse,' experts warn
▼ + stars: | 2022-10-16 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +8 min

October marks 60 years since the Cuban missile crisis, when the US and USSR were on the brink of nuclear war. "The current crisis is far worse than the Cuban missile crisis," one historian recently told Insider. But today's simmering Ukraine war poses 'far worse' nuclear dangers, experts say. "The current crisis is far worse than the Cuban missile crisis, in part because during the Cuban missile crisis both Kennedy and Khrushchev were willing to discuss a way of walking back the confrontation. "This crisis is more dangerous than the Cuban missile crisis," Andy Weber, a former assistant secretary of defense for nuclear, chemical and biological programs, recently told Politico.

☆ Too late for a Saudi rethink? Critics say oil cut was a predictable blow for Biden
▼ + stars: | 2022-10-15 | by ( Hyder Abbasi | ) www.nbcnews.com time to read: +6 min

The cut is also seen as helping Russia, the world’s second-largest oil exporter, finance its war in Ukraine. “It failed both on blood and on oil,” Dr. Khalid Aljabri, a Saudi rights activist, told NBC News Thursday by telephone. Lina Alhathloul / TwitterAs a presidential candidate, Biden made no bones about his stance on the U.S.-Saudi relationship. Shortly after announcing his candidacy, he declared he was going to “cancel the blank check” the Trump administration had given Saudi Arabia during its war in Yemen, in which thousands of people have lost their lives. The U.S. has several options on how it can respond to Saudi Arabia, such as “freezing all arms sales and security cooperation, to withdrawing U.S. troops from Saudi Arabia,” Sheline said.

Share this -Link copiedCommittee votes to subpoena Trump The committee voted on Thursday unanimously to subpoena Trump. Trump would not be the first president to be subpoenaed, nor would he be the first former president subpoenaed by Congress. "Even before the networks called the race for President Biden on Nov. 7th, his chances of pulling out a victory were virtually nonexistent, and President Trump knew it," Kinzinger said. “At times, President Trump acknowledged the reality of his loss. “What did President Trump know?

That's based on a Secret Service email from 9:09 a.m. "The head of the President’s Secret Service protective detail, Robert Engel, was specifically aware of the large crowds outside the magnetometers," Schiff said. A Secret Service report at 7:58 a.m. said, "Some members of the crowd are wearing ballistic helmets, body armor carrying radio equipment and military grade backpacks." On Dec. 26, a Secret Service field office relayed a tip that had been received by the FBI, Schiff said. Trump would not be the first president to be subpoenaed, nor would he be the first former president subpoenaed by Congress.

☆ Trump was 'pissed' and 'livid' after the Supreme Court rejected 2020 election challenge, Secret Service email shows
▼ + stars: | 2022-10-13 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +2 min

Trump was furious when the Supreme Court dismissed a lawsuit to overturn the 2020 election results. A Secret Service message said Trump was "livid" and Cassidy Hutchinson said he was "fired up." POTUS is pissed — breaking news — Supreme Court denied his lawsuit. Figure it out, we need to figure it out," Hutchinson said Trump told Meadows following the Supreme Court's decision. The Supreme Court rejected an election challenge brought by Texas Attorney General Ken Paxton that was backed by Trump and his allies.

☆ How to tell if a company's in trouble, or just its stock
▼ + stars: | 2022-10-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Broken stock, or broken company? A debate is currently raging as to whether the tech giant is a broken stock or a broken company, with shares down more than 60% since the start of the year. In that case, what we have here is broken stock, not a broken company. Of course, once you've determined whether you're looking at a broken stock or a broken company, the next step is to consider valuation. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ Cassidy Hutchinson testified that Trump told Mark Meadows 'I don't want people to know that we lost' 2020 election court case
▼ + stars: | 2022-10-13 | by ( Nicole Gaudiano | Oma Seddiq | ) www.businessinsider.com time to read: +2 min

Donald Trump was "fired up" after the Supreme Court rejected a case aiming to overturn the 2020 election. He told his former chief of staff that he didn't want others to know he had lost, Cassidy Hutchinson testified. "The president was just raging about the decision and how it's wrong," she told the January 6 committee. "He had said something to the effect of, 'I don't want people to know we lost, Mark. Trump had pinned his hopes on the Supreme Court siding with him in the case that sought to toss out election results in four battleground states that he lost to President Joe Biden.

☆ A stock trader who's up 42% year-to-date shares 5 key adjustments he made to his trading strategy that have helped him beat the market and remain profitable
▼ + stars: | 2022-10-12 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

Matthew Caruso is a position trader, holding his stocks for weeks or even months at a time. Matthew Caruso has been trading stocks since 2008, first professionally for Canada's National Bank and then personally since 2014. "What made this year difficult was you had to balance, one, a very weak market, but yet, there were very strong industry trends within that weak market," Caruso said. Coming into the year, he noticed that the oil market was in tight supply, which pushed other commodities such as natural gas and fertilizer up as well. For example, if he has exposure to too many oil stocks, one news headline could plunge the entire sector.

☆ Elite investor David Einhorn expects an economic slump and sticky inflation - and says the risk of a global financial meltdown is growing
▼ + stars: | 2022-10-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

David Einhorn said the US economy is slowing down and inflation is here to stay. Einhorn pointed to red flags in global bond markets and warned a disaster may be coming. Einhorn also bemoaned a widespread decline in value investing, which centers on identifying undervalued companies based on their fundamentals. The combination of heady valuations, stubborn inflation, rising interest rates, and large amounts of debt could reveal cracks in the global financial system, Einhorn said. "When you have a down cycle is when these things tend to metastasize."

☆ Billionaire investor Ray Dalio warns the US faces a 'perfect storm' of problems - and predicts more pain for markets and the economy
▼ + stars: | 2022-10-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The US faces a "perfect storm" of debt, political strife, and an overseas war, Ray Dalio said. Dalio warned the Fed will have to hurt markets and the economy to conquer stubborn inflation. Dalio complained that "ridiculously stupid" interest rates and a flood of cheap money have inflated US asset prices and overstimulated the economy in recent years. "They will raise interest rates to the point that there's enough economic pain and financial market pain to deal with that," he said. Dalio, the founder of Bridgewater Associates, recently stepped down as the hedge fund's co-chief investor, and now serves as a mentor to its bosses.

☆ Covid leads to long Covid, in governments as well as people
▼ + stars: | 2022-10-11 | by ( Brian Michael Jenkins | Brian Michael Jenkins Is An Army Combat Veteran Who Currently Serves As Senior Adviser To The President Of The Nonprofit | Nonpartisan Rand Corporation. His Latest Book Is | ) www.nbcnews.com time to read: +9 min

Unlike previous pandemics, however, Covid didn’t see the same offsets in unifying sentiment. There were many explanations for this, including underreporting of Covid deaths in many countries, but the optics were not good. Democratic governments imposed controls that intruded into ordinarily personal space, while authoritarian governments exploited the pandemic to tighten their control. The decline in Covid numbers, if it holds, will not reverse these developments after the November elections. Just as we may talk about societal comorbidity, societies may suffer from long Covid — an impaired functioning of democracy that may persist long after the contagion survives.

☆ After bridge blast, Putin promises "harsh" response if Ukrainian attacks continue
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +3 min

Russian President Vladimir Putin attends a meeting with members of the Security Council via a video link in Saint Petersburg, Russia, October 10, 2022. "It is obvious that the Ukrainian secret services ordered, organised and carried out the terrorist attack aimed at destroying Russia's critical civilian infrastructure," Putin said of the bridge explosion. Ukrainian Foreign Minister Dmytro Kuleba said: "Putin is a terrorist who talks with missiles." Putin said Russia would respond "harshly" to any further attacks by Ukraine. Ukrainian President Volodymyr Zelenskiy said the rush hour attacks appeared to have been deliberately timed to kill people as well as to knock out electricity.

A flooded street is seen in downtown as Hurricane Ian makes landfall in southwestern Florida, in Fort Myers, Florida, U.S. September 28, 2022. REUTERS/Marco BelloVENICE, Fla., Sept 29 (Reuters) - A weakened but still formidable Hurricane Ian chugged across Florida toward the Atlantic seaboard on Thursday after thrashing the state's Gulf Coast with fierce winds, torrential downpours and raging surf that flooded oceanside communities. Separately, U.S. border authorities said 20 Cuban migrants were missing after their boat sank off the Florida coast as Ian neared the coast on Wednesday. Up to 30 inches (76 cm) of rain was forecast to fall on parts of central Florida, the NHC said. DeSantis said Ian had generated life-threatening storm surges - waves of wind-driven seawater rushing in along the coast - of up to 12 feet (3.7 meters) in some places.

☆ The UK's abrupt tax cuts are sowing market chaos — and putting policymakers in a no-win situation that threatens economic crisis
▼ + stars: | 2022-09-29 | by ( Ben Winck | ) www.businessinsider.com time to read: +7 min

The UK government's plan to slash taxes and stimulate economic growth has backfired spectacularly. The episode risks lifting inflation higher still and levying new economic pain on all Britons. What was introduced as an effort to boost the UK's economic growth is backfiring to an extraordinary degree. The blowback could range from a weaker British pound to a government default, even higher inflation, higher unemployment, a bigger wealth gap, and a crippling recession. According to Chancellor Kwasi Kwarteng, the aim was to lift the struggling UK economy and cut the risk of a near-term downturn.

☆ The Bank of England is snapping up bonds to stabilize debt markets — but that goes against its aim of stemming inflation. Here's what you want to know.
▼ + stars: | 2022-09-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Friday eve means the weekend's just around the corner, but it seems like nobody told the British bond market. The balancing act, at worst, could mean a calamity for the British economy and prolonged volatility in markets. And at best, policymakers thread the needle and stabilize markets, tame inflation, and regain the confidence of traders and everyday folks dealing with a tough economy. A weaker currency means imports get more expensive, and higher bond yields mean government borrowing gets more expensive. What will it take for bond market traders to regain confidence in the UK debt market?

Share this -Link copiedFloridians are livestreaming Hurricane Ian on TikTok Floridians are giving TikTok users a front-row seat to Hurricane Ian. Storm surge map, they didn’t have a color for 12 to 15 feet," he said about the historic levels of storm surge expected near where Ian is expected to make landfall. Share this -Link copiedA view of Hurricane Ian from the International Space Station A view of Hurricane Ian from the International Space Station, on Monday. Share this -Link copiedSatellite images show Hurricane Ian approaching Florida Hurricane Ian over the Gulf of Mexico early Wednesday. Share this -Link copiedIan expected to strengthen until making landfall, officials say Hurricane Ian is still forecast to strengthen until the hurricane makes landfall in Florida, the National Hurricane Center said.

At the International Monetary Fund's last count in the first quarter of this year, almost 5% of the world's foreign currency reserves were denominated in sterling - a total of $625 billion dollars worth of sterling and sterling assets on a crude calculation from the $12.55 trillion total. The UK has a reserve currency so it can always issue debt – it's just a question of the right price." But what if that reserve currency position is threatened and foreign central banks balk at holding so much sterling in their national savings stashes? Seven of the world's top 10 reserve holding central banks are in Asia or the Middle East. UBS chart on its 2022 survey of world reserve managersThe opinions expressed here are those of the author, a columnist for Reuters.

☆ UBS: Buy these 23 high-quality stocks that are poised to outperform as a volatile market sends the Eurozone barreling towards a recession
▼ + stars: | 2022-09-28 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +3 min

Raging inflation, rate hikes, and an energy crisis have tumbled European stocks recently. UBS shared 23 high-quality stocks to buy to help investors navigate increasing volatility and risk. "Inflation risks remain skewed to the upside, in our view," wrote a team of UBS strategists in a report published earlier this month. 23 high-quality stocks to weather the stormBut just because there's storms ahead for the European stock market doesn't mean that investors must stay away entirely. The full list of UBS's top 23 high-quality European stock picks is below, along with each firm's ticker, key themes and drivers, and catalysts.

☆ BlackRock's US head of thematic exchange-traded funds shares 3 sectors to invest in to fight inflation and set your portfolio up for long-term gains
▼ + stars: | 2022-09-27 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

Jacobs shared three inflation-resistant sectors to invest in for long-term gains. It's no different for Jay Jacobs, the US head of thematics and active equity exchange-traded funds at BlackRock, which manages $10 trillion in assets. Due to rising food prices, Jacobs also believes that agricultural technology firms focused on food innovation are another long-term beneficiary of lofty inflation levels. According to Jacobs, most costs are upfront for greener energy solutions, like the cost to build a wind turbine or solar panel. These include tax policies favoring renewable energy solutions, growing energy demand from consumers for cleaner options like electric vehicles, and the fact that renewable energy is often inherently cheaper than the electricity generated from fossil fuels.

☆ Morning Bid: Eye of the storm
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Shannon Stapleton TPX IMAGES OF THE DAYA look at the day ahead in U.S. and global markets from Mike Dolan. As Hurricane Ian raged and set its sights on Cuba and Florida, a global financial storm in bond and currency markets calmed moderately - though likely only temporarily. read moreRegister now for FREE unlimited access to Reuters.com RegisterFor all its potential destruction, Ian doesn't yet appear on the world markets radar. UK debt auctions this week will be watched very closely. But this may be the eye of the storm.

☆ Shadow of war hangs over Ethiopia's Meskel festival celebrations
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Members of Ethiopian Orthodox choir sing during the Meskel festival celebration to commemorate the discovery of the true cross on which Jesus Christ was crucified on at Meskel square, in Addis Ababa Ethiopia, September 26, 2022. REUTERS/Tiksa NegeriADDIS ABABA, Sept 27 (Reuters) - The shadow of war hung over Ethiopia's Meskel festival in Addis Ababa on Tuesday, with high security, low turnout and Orthodox Christian priests calling for peace and forgiveness in their sermons. As they do year after year, hundreds of priests, musicians and singers clad in white robes came together on the vast expanse of the capital's Meskel Square. "Just like the mothers were crying under the cross, our mothers in the North are also crying. Register now for FREE unlimited access to Reuters.com RegisterReporting by Addis Ababa newsroom; Writing by Estelle Shirbon; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

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