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☆ Europe’s now dealing with an oversupply of natural gas after hoarding it for months before winter
▼ + stars: | 2023-02-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The benchmark price for natural gas futures has cratered about 28% this year, and it's trading roughly 85% cheaper than record highs reached in August. At that time, natural gas was costing buyers about 10 times more than usual ahead of the winter months. As a key energy supplier to Europe, many feared that Russia would cut off natural gas flows in retaliation to Western sanctions. Europe enjoyed its third hottest January ever last month, meaning people used less heating and thus less natural gas. A former Gazprom official told Reuters this week that all the years of work to build up Russia's natural gas exports have become moot.

Elected last June, President Ferdinand Marcos Jr has struggled to fulfil campaign promises to bring down inflation, which hit 8.7% in January, driven by an 11.2% jump in food prices, the biggest since 2009. Imported onions, bought mostly from India and China, require sanitary and phytosanitary permits for quarantine and biosecurity purposes. Steep price rises for eggs and sugar have also whacked up the cost of putting food on the table. Reuters Graphics Reuters Graphics'UNSOLVED' SUPPLY PROBLEMSOfficials say the high inflation was transitory and should ease once supply issues are addressed. Philippines' onion demand and supply($1 = 54.52 Philippine pesos)Additional reporting by Karen Lema and Eloisa Lopez; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Binance Hires Gemini Executive as Chief Compliance Officer
▼ + stars: | 2023-02-14 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

Binance said Noah Perlman has joined as its chief compliance officer from rival Gemini Trust Co., as the cryptocurrency exchange continues to beef up its legal and compliance team amid regulatory scrutiny. Mr. Perlman joined Binance last month after serving as Gemini’s chief operating officer for more than two years. He joined Gemini as its chief compliance officer in 2019. Mr. Perlman’s appointment ends a monthslong search for a compliance chief at Binance, which over the past year or so has been bolstering its compliance team head count. Binance Chief Executive Changpeng Zhao, known as CZ, said on Twitter in September that the exchange planned to hire a few hundred more compliance people.

☆ My family owned a Chinese takeout restaurant. Here are 9 things we wished customers knew to avoid being offensive or inconsiderate.
▼ + stars: | 2023-02-14 | by ( Su-Jit Lin | ) www.businessinsider.com time to read: +11 min

Food writer Su-Jit Lin grew up working in her parents' American Chinese kitchen. Double meat is paid for unflinchingly at the likes of Chipotle; why should Chinese takeout be any different? Plus, the Chinese takeout restaurant industry is competitive, and offering good bang for your buck is often what the owners are convinced help them survive. This is a common formula for Chinese takeout across America. Don't order too close to opening or closing timeA lot of American Chinese food depends on our prep being hot and ready.

☆ Eggs are 70% more expensive than they were a year ago
▼ + stars: | 2023-02-14 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

In January, egg prices rose 8.5% compared to the month before, according to inflation data released by the Bureau of Labor Statistics Tuesday. In the wholesale market, egg prices hit a record peak in December and have been steadily falling since then. Julia Weeks/APAnd compared to other grocery items, egg prices rose most dramatically. Grocery prices in JanuaryIn the month of January, grocery prices went up 0.4% compared to December, adjusting for seasonal swings. Ham prices jumped 3%, citrus fruit jumped 2.8% and packaged cookies got 2.5% more expensive.

☆ Americans' breakfast takes a hit as egg prices surpass beef and the cost of orange juice soars
▼ + stars: | 2023-02-14 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Orange juice prices, meanwhile, are notching record highs, and have spiked 30% year-to-date. Egg prices jumped 70% in a year, with high production costs nudging 12 eggs to a record price of $4.82 last month. Wholesale eggs price are lowering on a weekly basis, however, but this hasn't hit grocery stores quite yet. On the contrary, ground beef prices have fallen from record levels, resulting in a dozen eggs costing more than a pound of ground chuck. Elsewhere, orange juice prices notched record highs, surging 30% year-to-date as recent hurricanes, frost, and a plant disease hit production levels.

☆ Bernie Sanders, Elizabeth Warren, and other Democrats are once again trying to give retirees an additional $2,400 in their Social Security checks
▼ + stars: | 2023-02-13 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Sanders, Warren and other Democrats introduced a bill to extend Social Security solvency through 2096. Sanders, alongside Sen. Elizabeth Warren and Reps. Jan Schakowsky and Val Hoyle, introduced legislation to beef up Social Security benefits and keep the program solvent through 2096. Social Security beneficiaries are currently facing down checks being cut as soon as 2035, as the program's trust fund slowly runs out. "Our job is to expand Social Security so that every senior in America can retire with the dignity that they deserve and every person with a disability can live with the security they need." Currently, only up to $162,000 is taxed for Social Security while any income above that limit is free from the tax.

☆ NATO chief warns Ukraine is using an 'enormous' amount of munitions and firing them faster than alliance partners can make them
▼ + stars: | 2023-02-13 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

NATO's chief said Ukraine is expending an "enormous" amount of munitions on the battlefield. Kyiv is firing these munitions faster than the US and its European partners can produce them, he said. NATO members and partner countries have sent tens of billions of dollars in military aid to Ukraine. "The war in Ukraine is consuming an enormous amount of munitions and depleting allied stockpiles. "Key capabilities like ammunition, fuel, and spare parts must reach Ukraine before Russia can seize the initiative on the battlefield," he warned.

If sealed, this would be the second such deal between major LNG exporter Qatar and the world's no.2 LNG buyer, as Beijing looks to beef up gas supply and diversify its sources in a drive to replace coal and cut carbon emissions. CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar. "This is a good move for CNPC, securing additional long term supply from a reliable and well positioned partner. Sinopec said in November the gas purchase agreement was part of an "integrated partnership", which indicated the Chinese firm could be considering acquiring a stake in Qatar's North Field expansion export facility. Chinese customs data showed the country's imports of Qatari LNG surged 75% last year from 2021 to 15.7 million tonnes, making up a quarter of the nation's total imports, while China's total LNG imports shrank nearly 20%.

☆ Investors need to embrace these stocks that we love
▼ + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

I’ve typically done this stock picking feature in early to mid February as a Stocks We Love type of story, pegging it to Valentine’s Day. The restaurant stocks in particular could do well. Inflation is obviously still a concern for big consumer brands. Consumer prices rose 6.5% over the past 12 months through December, down from a 7.1% pace in November. Up nextMonday: Earnings from TreeHouse Foods (THS), Avis Budget (CAR), FirstEnergy (FE), IAC (IAC) and PalantirTuesday: US CPI; Japan GDP; UK employment report; earnings from Coca-Cola, Asahi Group, Marriott (MAR).

☆ Column: Fantasy league matchmaking between oil majors and transition upstarts
▼ + stars: | 2023-02-10 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

But the eye-catching headline numbers also drew scrutiny from climate trackers and policymakers anxious to see fossil fuel majors show leadership in the renewable energy field. Reuters GraphicsSome of so-called Big 5 majors, especially Europe-based firms BP (BP.L), Shell (SHEL.L) and TotalEnergies (TTEF.PA), already boast major business segments tied to renewable energy. Big exposure to U.S.-based production assets, along with lucrative export streams of oil, gas and fuel were key drivers behind the outsized earnings of U.S. firms. Both firms operate at the front edge of the energy transition in different sectors, and present potentially appealing entry points for majors seeking access to fast-growing specialist areas. As the largest utility company in the United States, the firm is already in the starting line-up for any energy sector discussion.

☆ San Francisco Mayor Lays Out Strategy to Jump-Start Downtown
▼ + stars: | 2023-02-09 | by ( Jim Carlton | Peter Grant | ) www.wsj.com time to read: 1 min

San Francisco Mayor London Breed is aiming to beef up the law-enforcement presence downtown through more foot patrols. SAN FRANCISCO—Mayor London Breed rolled out her plan Thursday to revitalize the moribund downtown office market, the latest city to announce steps to recover from an exodus of workers during the pandemic. Ms. Breed’s “Roadmap to Downtown San Francisco’s Future” includes a mix of tax incentives and a renewed focus on cleaning up the streets.

☆ North Korea shows off design for new, more dangerous missile while rolling out enough ICBMs to possibly overwhelm US defenses
▼ + stars: | 2023-02-09 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

North Korea boasted its progress on a new and dangerous solid-fueled missile at a military parade. In recent years, North Korea has indicated that its missile program is pivoting toward the use of solid fuel, Ian Williams, deputy director of the Missile Defense Project at the CSIS, told Insider. North Korea has displayed large canisters before, but the ones displayed on Wednesday appear to be more legitimate than those in the past, Williams said. This is because the defense system's interceptors would not have the capacity to engage all credible threats. Furthermore, missile defense should be thought of as one part of a larger "missile defeat complex," he added.

☆ Paraguay president to visit Taiwan ahead of election that could end ties
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

Paraguay is one of only 14 countries to have formal diplomatic relations with Chinese-claimed Taiwan, and Beijing has been stepping up efforts to get those remaining allies to abandon Taipei. Paraguay would cut diplomatic ties with Taiwan and open relations with China if the opposition wins the election, its presidential candidate Efrain Alegre has said, hoping to boost economically important soy and beef exports. "Taiwan and Paraguay have had diplomatic relations for more than 65 years and a deep friendship," the ministry added. Santiago Pena, the ruling Colorado Party candidate, has said Paraguay's relations with Taiwan would remain intact if he wins on April 30. China views Taiwan as one of its provinces, with no right to state-to-state ties, a position Taipei hotly disputes.

Bulk exports including corn, soybeans, wheat, cotton and sorghum totaled 146 million tonnes, down 6% from 2021. The average exported cost of U.S. corn, soybeans and wheat all hit new records in 2022 as a result. CHINAU.S. agricultural and related exports to China in 2022 reached a record $40.85 billion, up 14% from the prior high set last year. U.S. corn exports to China last year were down 14% by volume from 2021’s high, and forward bookings are relatively very light. U.S. beef exports to China hit a record 244,000 tonnes in 2022, up 28% on the year and worth $2.16 billion, surpassing pork’s $1.36 billion.

☆ Movie theaters get creative with food and drink as they struggle to fill seats
▼ + stars: | 2023-02-08 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +9 min

At many movie theaters, popcorn and soda appear alongside flatbreads, lobster grilled cheese and elaborate cocktails. "It is things like concessions and how that fits into a broader movie theater experience that really are things that movie theaters need to focus on and hammer in," Gallinari said. AMC Entertainment , the world's largest movie theater chain, exited its third quarter with more than $5.3 billion in debt. According to data from research firm EntTelligence, the average medium popcorn at domestic movie theaters is $8.14, while a medium drink runs for $6.20. "With movie theaters and concessions already having a reputation for being overpriced, being subject to the wills of the market in that way can really work against the movie theater's favor," Gallinari said.

☆ North Korea's Kim lauds army ahead of expected military parade
▼ + stars: | 2023-02-08 | by ( Josh Smith | ) www.reuters.com time to read: +3 min

[1/5] North Korean leader Kim Jong Un, his wife Ri Sol Ju and their daughter Kim Ju Ae attend a banquet to celebrate the 75th anniversary of the Korean People's Army the following day, in Pyongyang, North Korea February 7, 2023 in this photo released February 8, 2023 by North Korea's Korean Central News Agency (KCNA). KCNA via REUTERSSEOUL, Feb 8 (Reuters) - North Korean leader Kim Jong Un called for strengthening the country's military, state media reported on Wednesday, as he paid tribute to soldiers and met with troops amid expectations for a major military parade showcasing the latest weapons. According to international analysts, commercial satellite imagery has for months shown North Korean troops practicing for a major military parade that is expected this week. Despite United Nations Security Council resolutions and sanctions, North Korea has forged ahead with banned nuclear weapons and ballistic missile development. South Korea and the United States have stepped up their own military drills to counter the North, drawing condemnation from Pyongyang.

☆ An entrepreneur who has used Shopify since it was in beta shares how he built an app to solve the biggest problem he faced on the platform while scaling to $1 million in sales
▼ + stars: | 2023-02-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +7 min

Thomas Bertrand built a Shopify app after years of selling on the e-commerce platform. He launched his Shopify store, Bento&co, where he sells bento boxes and related accessories, in 2008. But he also created an app on Shopify's App Store that was directly inspired by his years as a merchant. Shopify's app store is home to more than 7,000 apps to help merchants with tasks like store design, product sourcing, SEO, marketing, and shipping. Shopify's merchants made $46.2 billion in sales on the platform in the third quarter of 2022 alone.

☆ CVS pays exorbitant $10 bln price to diversify
▼ + stars: | 2023-02-08 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 8 (Reuters Breakingviews) - CVS Health (CVS.N) keeps marching ahead with its plan to create an American healthcare colossus. Its latest acquisition involves paying $10.6 billion, including debt, to buy Oak Street Health (OSH.N). CVS is buying home-healthcare assessment provider Signify Health (SGFY.N) for $8 billion, and now Oak Street, to beef up its capabilities. CVS is valuing each Oak Street healthcare provider at more than $17 million, and each patient at about $67,000. In September, CVS agreed to buy Signify Health, a home healthcare provider mostly for Medicare patients, for $8 billion.

☆ US allies bordering Russia are buying up HIMARS, weapons that have devastated Putin's forces in Ukraine, and longer-range rockets and missiles for them
▼ + stars: | 2023-02-08 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The US State Department has approved the sale of HIMARS launchers, missiles, and rockets to Poland. The country is among several other US allies bordering Russia that have sought to obtain this capability. The HIMARS has proven to be a highly effective weapon for Ukraine, which has used the system to devastate Russian forces on the battlefield. With this sale, Poland would become the latest eastern European country that borders Russia to secure the much-celebrated HIMARS. The State Department last year approved a sale of HIMARS to Estonia, which borders mainland Russia.

☆ It's fine to use ChatGPT to write your cover letter, a recruiter says. But it could screw you over on interview prep.
▼ + stars: | 2023-02-07 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +4 min

ChatGPT has grown in popularity among job seekers, writing cover letters and resumes in seconds. One recruiter says it's just a more accessible version of something job seekers have always done. People have shared stories on social media about using it to write cover letters, a time-consuming thorn in job seekers' side. As a recruiter who works with people in highly specialized roles, Laughlin also cautioned against using ChatGPT to bypass technical screenings for jobs, like with coding. But for now, he sees the bot as an impressive way for job seekers to get their foot in the door at companies.

☆ Goldman Sachs downgrades Tyson Foods, says poultry stock's trajectory is uncertain after latest earnings
▼ + stars: | 2023-02-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Analyst Adam Samuelson downgraded the food producer to neutral from buy after Tyson's latest quarterly report showed significant underperformance across the company — particularly its chicken segment. The company's reported earnings per share of 85 cents for its first fiscal quarter. "Put together, we see a more uncertain trajectory for Chicken segment profitability into FY24 and have less confidence in the business returning to previously articulated 6-8% normalized margins," the analyst added. Tyson shares fell 4.6% on Monday after the company announced its quarterly earnings. TSN 1Y mountain TSN in past 12 months —CNBC's Michael Bloom contributed to this report.

☆ I tried 25 of Trader Joe's award-winning foods, and would buy at least 21 of them again
▼ + stars: | 2023-02-07 | by ( Savanna Swain-Wilson | ) www.businessinsider.com time to read: +42 min

I hit up my local Trader Joe's and bought as many award-winning foods as I could to see which ones deserved their hype. In other words, I agree with the many customers who have dubbed this their favorite Trader Joe's snack. As long as I live within reasonable driving distance of a Trader Joe's, I will continue to buy this loaf. Trader Joe's butter chicken with basmati rice is a satisfyingly spicy comfort meal for oneTrader Joe's butter chicken with basmati rice had a delicious sauce. Trader Joe's cheddar with caramelized onions offers a memorable balance of savory, salty, and sweetThe cheddar smelled like caramelized onions.

Persons: —, Monterey Jack, burrito, Savanna, Wilson, didn't, I've, It's, Joe's, I'm, they're, chorizo, I'd, Butter, they'd, Joe's cashiers, who's, fryer, Swain Wilson Organizations: Service, of Fame, Business, I'd, Wilson, panini Locations: Monterey, Monterey Jack, skillet, Savanna, Peru, treacly, San Francisco

☆ Alignment Healthcare's CEO shared 3 reasons he thinks the upstart will win in health insurance — and why it won't unravel like Bright Health
▼ + stars: | 2023-02-07 | by ( ) www.businessinsider.com time to read: +5 min

Young health insurers that went public in 2021 have bled money. Some health insurers that went public in 2021 at high valuations have struggled since then. Several young insurers have bled money as they've grown quickly. Bright Health, another Medicare Advantage insurer, came close to insolvency and had to shut down its health plans on the Affordable Care Act marketplace. Growing steadily with a narrow focusBefore the recent market slowdown, growing fast had been a common strategy for newly public health insurers and digital health broadly.

☆ The US military says China now has more ICBM launchers than it does, but the US still has the nuclear edge
▼ + stars: | 2023-02-07 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The US military says that China now has more ICBM launchers than Washington does. However, the US still has an edge in the number of ICBMs and nuclear warheads it has. "The number of land-based fixed and mobile ICBM launchers in China exceeds the number of ICBM launchers in the United States," Cotton wrote in letters sent to the respective committees on January 26, letters obtained by Insider. He also said that the "number of nuclear warheads equipped on such missiles of China has not exceeded the number of nuclear warheads equipped on such missiles of the United States." That said, China's edge in land-based fixed and mobile launchers does bring Beijing closer to fielding a more robust ICBM capacity.

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