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ATHENS, March 5 (Reuters) - A Greek railway employee was jailed on Sunday pending trial over a deadly train crash that killed at least 57 people, as Greeks seethed with anger over the worst rail disaster in living memory. Clashes erupted between police and demonstrators in Athens on Sunday, after thousands rallied to protest over the crash. The 59-year-old Larissa station master faces multiple charges of disrupting transport and putting lives at risk. REUTERS/Alkis Konstantinidis 1 2 3 4 5Railway workers say the country's rail network has been creaking under cost-cutting and underinvestment, a legacy of Greece's debilitating debt crisis from 2010 to 2018. Mitsotakis said on Sunday that if there had been a remote system in place throughout the rail network "it would have been, in practice, impossible for the accident to happen".

Here's an update on our energy, industrials and materials names in Jim Cramer's Charitable Trust, the portfolio we use at the CNBC Investing Club. In 2022, by contrast, the priority was its variable dividend, which changed quarter by quarter depending on its financial results. The industrial company is one of our more recently added holdings. He also mentioned that Halliburton's top boss, Jeff Miller, has expressed notable conviction that the company's stock price is too cheap. The alternative would be consolidating our holdings to two oil-and-gas producers, along with Halliburton as our third energy stock.

☆ Persistent underinvestment in the oil sector will keep global supply tight, Aramco CEO says
▼ + stars: | 2023-03-03 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Chronic underinvestment in the hydrocarbons sector will keep global supply tight, the head of the world's largest oil company warned, suggesting higher future energy prices as China's reopening and the comeback of the aviation industry gather pace. Asked by CNBC's Dan Murphy about the current state of the oil market, Saudi Aramco CEO Amin Nasser said, "A persistent underinvestment in oil upstream and even downstream is still there. The latest report from the IEA talks about a demand of 101.7 million barrels — going from 100 million barrels in 2022 to almost 2 million barrels more with China opening up and the aviation industry," which hasn't yet returned to pre-Covid levels. "There is a lot of potential for growth in aviation," Nasser said. Larger-than-expected U.S. fuel stocks in recent months and expectations of weaker global growth have helped lower energy prices.

☆ The 'office apocalypse' won't doom big cities — it's actually making them stronger
▼ + stars: | 2023-03-02 | by ( Matthew E. Kahn | Christopher Okada | ) www.businessinsider.com time to read: +12 min

In San Francisco, tax revenue is projected to drop by as much as a billion dollars over the next six years. In order to bring in these new residents, cities will have to shift some of their priorities. Research coauthored by Steven Levitt of "Freakonomics" found that increases in violent and property crimes were correlated with city residents migrating to the suburbs. All is not lostThere's little doubt that superstar cities like New York and San Francisco have serious problems on their hands. Christopher Okada is the CEO of Okada & Company, a full-service commercial real estate brokerage and investment company in New York City.

☆ Shark Tank investor Kevin O'Leary says energy stocks are the new gold and touts optimism for the US economy
▼ + stars: | 2023-03-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Energy stocks are gold in the market, according to "Shark Tank" investor Kevin O'Leary. "If you didn't own energy in the last 18 months, you missed the market," he said in a recent interview. O'Leary is bullish on the market this year, despite warnings of a recession and a stock crash from commentators. He previously made the case that the US could still sidestep a recession in 2023, despite warnings of an impending downturn from other Wall Street forecasters. That's contrary to what other Wall Street experts have said, warning of an impending downturn and market crash as the economy shows signs of stress.

☆ Kansas City Mayor Quinton Lucas talks President Biden, infrastructure funding, and governing without gridlock at the local level: 'We've got to get stuff done'
▼ + stars: | 2023-02-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +8 min

Kansas City Mayor Quinton Lucas strives for collaboration as he works on tough policy issues. And he looks at Kansas City — whose Chiefs won Super Bowl LVII earlier this month — as an example of resiliency. What have been some of the most tangible and immediate benefits of the law for Kansas City? Mayor Lucas speaks during the Kansas City Chiefs' victory celebration in Kansas City, Missouri, on February 15, 2023. In Kansas City, we've said: "How do we keep talking to people even if everybody's mad at each other in the room?"

☆ Why a U.S. national electric grid would be great for the climate — and is nearly impossible
▼ + stars: | 2023-02-22 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +15 min

But the energy grid in the U.S. has developed over decades as a patchwork of thousands of individual utilities serving their own local regions. The Department of Energy is in the process of conducting a National Transmission Planning Study,to look into all of this. "Many mid-U.S. states have excellent wind resources, and the southwest U.S. has excellent solar resources, but the population is insufficient to use them," McCalley told CNBC. Finally, improved energy sharing would also lead to a more reliable energy grid for consumers. At the kickoff for its next round of transmission planning, MISO had a three hour planning meeting with 377 people in the meeting.

Analysts expect China's oil imports to hit a record high in 2023 to meet increased demand for transportation fuel and as new refineries come on stream. China and India have become major buyers of Russian crude amid Western sanctions on Russian oil and more recently, embargoes and price caps because of the Ukraine war. In India, the world's third-biggest oil importer, crude imports rose to a six-month high in January, government data showed. Russia plans to cut oil production by 500,000 barrels per day (bpd), equating to about 5% of its output, in March after the West imposed price caps on Russian oil and oil products. Prices will move higher "as the market pivots back to deficit with underinvestment, shale constraints and OPEC discipline ensuring supply does not meet demand", they wrote.

Both crude benchmarks settled $2 down on Friday for a decline of about 4% over the week after the United States reported higher crude and gasoline inventories. Analysts expect China's oil imports to hit a record high in 2023 to meet increased demand for transportation fuel and as new refineries come on stream. China and India have become major buyers of Russian crude amid Western sanctions on Russian oil and more recently, embargoes and price caps because of the Ukraine war. Russia plans to cut oil production by 500,000 barrels per day (bpd), equating to about 5% of its output, in March after the West imposed price caps on Russian oil and oil products. Prices will move higher "as the market pivots back to deficit with underinvestment, shale constraints and OPEC discipline ensuring supply does not meet demand", they wrote.

☆ Oil rises on China demand hopes and supply concerns
▼ + stars: | 2023-02-20 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

LONDON, Feb 20 (Reuters) - Oil prices rose on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia's plans to rein in supply. Separately Russia plans to cut oil production by 500,000 bpd, equating to about 5% of its output, in March after the West imposed price caps on Russian oil and oil products. China and India have become major buyers of Russian crude since the European Union embargo. At the same time, future oil supply shortages are likely to drive prices toward $100 a barrel by the end of the year, Goldman Sachs analysts said in a Feb. 19 note. Prices will move higher "as the market pivots back to deficit with underinvestment, shale constraints and OPEC discipline ensuring supply does not meet demand", they wrote.

☆ Oil rises on China demand hopes, concerns on supply outlook
▼ + stars: | 2023-02-20 | by ( Emily Chow | ) www.reuters.com time to read: +2 min

SINGAPORE, Feb 20 (Reuters) - Oil prices rose on Monday amid optimism over China's demand recovery, concerns that underinvestment will crimp future oil supply and as major producers keep output limits in place. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday, was at $76.78 a barrel, up 44 cents or 0.6%. Russia plans to cut oil production by 500,000 bpd, or around 5% of output, in March after the West imposed price caps on Russian oil and oil products. China is the world's largest crude oil importer. Prices will move higher "as the market pivots back to deficit with underinvestment, shale constraints and OPEC discipline ensuring supply does not meet demand," they wrote.

☆ Ukraine yet to make defence a safe investor haven
▼ + stars: | 2023-02-20 | by ( Lisa Jucca | ) www.reuters.com time to read: +6 min

MUNICH, Feb 20 (Reuters Breakingviews) - The West’s rush to supply weapons to war-torn Ukraine looks like a golden opportunity for defence companies to exit the ESG doghouse. As with air-polluting coal, socially-minded investors including pension funds and insurers - particularly European ones - have long excluded or heavily restricted investment in defence companies on ethical grounds. Risk committees, particularly at domestic banks, are now more frequently assessing the merits of financing defence companies, two senior bankers among the 850 or so conference participants said. Proponents of the approach argue military companies that help Ukraine perform a globally valuable social function by upholding democracy. The Munich Security Index, a global risk perceptions survey conducted before the conference, showed security concerns had replaced climate challenges as the top concern.

☆ Market shows resiliency in face of bad news like hot PPI — listen to the 'Homestretch'
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: +7 min

>>> HELLO, EVERYBODY. WELCOME TO THURSDAY'S EDITION OFTHE "HOMESTRETCH" AND YOU KNOW,I HAVE TO SAY THAT WE WERE DOWNEARLIER WHEN WE LAST BROKE ATTHE MORNING MEETING, AND IT'S,YOU KNOW, A LOT OF THE SAMETHEMES AS WHAT WE HAVE BEENSEEING ALL WEEK. THE CLEANEST GROWTH STORIES INALL OF PHARMA WHICH IS MAJOMAWHICH IS APPROVED FOR OBESITYTHIS SPRING, AND J&J IS A TOUGHONE AFTER BEING RESILIENT NEXTYEAR, AND ANOTHER ONE THAT ISGOING TO BE ADDEDOPPORTUNISTICALLY, AND I WILLLUMP DANAHER IN AS A HEALTH CARESTOCK, AND THIS IS ANOTHER ONEWE LIKE WITH THE UPCOMINGSEPARATION OF THE ENVIRONMENTAND APPLIED SOLUTIONS BUSINESS. WE WILL WAIT FOR THE REST OF THEDAY. I'M JEFF MARKS FOR THE"HOMESTRETCH" AND I WILL SEE YOUTOMORROW ON THE HOME MEETING.

☆ Glencore declares $7.1 bln payout to shareholders after record 2022
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Adjusted EBITDA up 60% to record $34.1 billionMetals and fossil fuels trading profit up 73% to record highLONDON, Feb 15 (Reuters) - Glencore (GLEN.L) announced a payout of $7.1 billion to its investors on Wednesday, including a $1.5 billion share buyback, as strong oil and coal prices helped it post a record 2022 profit. Its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 60% to a record $34.1 billion, smashing a previous best of $21.3 billion a year earlier, in line with analysts' estimates. Profit on metals and fossil fuels trading hit a record $6.4 billion in 2022, up 73%, though analysts see a repeat of that performance this year or next as unlikely. "COVID, supply chain disruptions and the power crisis in Asia/Europe has created exceptional opportunities for Marketing," UBS analysts said in a note. Reporting by Clara Denina, Helen Reid, Muhammed Husain; editing by Subhranshu Sahu and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Devon Energy's plunge after management fails to reassure investors makes us question our stake
▼ + stars: | 2023-02-15 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Shares of Club holding Devon Energy (DVN) fell sharply Wednesday, one day after delivering disappointing fourth quarter results , reducing its fixed-plus-variable dividend and barely buying back any stock. DVN 1Y mountain Devon Energy (DVN) 1-year performance Devon management on Wednseday did reassure investors of its commitment to financial discipline and shareholder returns. Production guidance On Devon's earnings call Wednesday morning, management said that the first quarter is expected to be the lowest production quarter of fiscal 2023. The facility is expected to be back up and running by mid-March, with no impact to second quarter production expected. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Coterra, Danaher and TJX Companies are in the news. Here's our take on the headlines
▼ + stars: | 2023-02-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

A trio of Club stocks — Coterra Energy (CTRA), Danaher (DHR) and TJX Companies (TJX) — are in the news Monday. The multiweek slide in natural gas prices is at the heart of Raymond James' downgrade because Coterra's revenue is split roughly 50-50 between natural gas and oil. @NG.1 5Y mountain Natural Gas prices over 5 years The Club's take: The decline in natural gas prices is undoubtedly going to affect the amount of cash Coterra generates and then returns to shareholders via its fixed-plus-variable dividend strategy and buybacks. We're not heading for the exits on Coterra despite the decline in natural gas prices. A photo of a natural gas flare burning near an oil pump jack at the New Harmony Oil Field in the U.S. on June 19, 2022.

☆ Saudi Arabian shares drop on lower oil prices; Egypt rises
▼ + stars: | 2023-02-05 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

Feb 5 (Reuters) - Saudi Arabian stock market closed lower on Sunday, in response to fall in oil prices on Friday amid concern about the European Union embargo on Russian refined products. Meanwhile, Saudi Arabia's Energy Minister warned on Saturday that sanctions and underinvestment in the energy sector could result in a shortage of energy supplies in future. The European Union has imposed a series of sanctions against Russia, reducing Russian energy exports. Saudi oil giant Aramco (2222.SE) sank 1.5%, while the world's largest Islamic bank by market capitalization, Al Rajhi Bank (1120.SE), dropped 1.9%. Qatar's stock index (.QSI) ended down 0.4%, with almost all its constituent stocks in negative territory.

☆ Here’s our February rapid-fire update on all 34 stocks in Jim Cramer’s Investing Club portfolio
▼ + stars: | 2023-02-05 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the holdings we manage in the CNBC Investing Club. J & J is a good stock to get into ahead of the impending split into two companies: consumer brands and pharma/medical technology. The company reported a good quarter and guidance, while fundamentals are solid ahead of the split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Saudi minister warns sanctions, underinvestment may cause energy shortages
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Feb 5 (Reuters) - Saudi Energy Minister Prince Abdulaziz bin Salman warned on Saturday that sanctions and underinvestment in the energy sector could result in a shortage of energy supplies. The European Union has imposed a series of sanctions against Russia, reducing Russian energy exports, and other Western powers have also imposed measures as they seek to further limit Moscow's ability to fund its war in Ukraine. He said Saudi Arabia was working to send Ukraine liquefied petroleum gas (LPG), which is most commonly used as a cooking fuel and in heating. Asked what lessons had been learnt from energy market dynamics in 2022, Prince Abdulaziz said the most important one was for the rest of the world to "trust OPEC+". Reporting by Nayera Abdallah and Maha El Dahan; Editing by Alexander Smith, David Holmes and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ OPEC+ committee recommends no change in oil output policy at virtual meeting
▼ + stars: | 2023-02-01 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

A technical committee of the influential OPEC+ oil producers' coalition has made no recommendation to change the group's existing production policy in its latest meeting, according to three delegates. The OPEC+ Joint Ministerial Monitoring Committee, which tracks the alliance's compliance with its output quota, convened digitally on Wednesday. The second OPEC+ technical group, the Joint Technical Committee that studies market fundamentals, canceled a virtual meeting originally scheduled for Jan. 31, according to a delegate. Neither committee can outright decide OPEC+ production policy, but the JMMC can recommend plans for the review of coalition ministers. Under that provision, the group would nominally lower their production output quotas by 2 million barrels per day.

☆ Goldman Sachs sees oil prices heading to $100 a barrel by the third quarter of 2023 amid China reopening
▼ + stars: | 2023-01-27 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Goldman Sachs expects oil prices to jump to $100 a barrel by the third quarter of 2023. The bank said China's reopening was likely to add 1.6 million barrels a day in demand to the market. The analyst added that crude supply wasn't in a place to accommodate Chinese resurgence "because of the underinvestment we've seen over the last few years in oil assets." The increase in oil prices projected by Goldman Sachs would represent a 22% rise on current levels of around $81.99 for crude oil. "The fifth of February product embargo could be more disruptive to the product prices, not necessarily crude but to the product prices by way of higher refining margins of diesel," Bhandari said.

☆ Fact Check-No evidence COVID-19 mRNA vaccines are significant contributing factor to UK’s 30,000 excess cardiovascular deaths
▼ + stars: | 2023-01-24 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Millions of people have viewed a BBC News interview with a British cardiologist who used the broadcast to spread misinformation about COVID-19 vaccines. Malhotra cites the British Heart Foundation (BHF) for reporting 30,000 excess cardiovascular deaths “during the pandemic or since the pandemic”. A BHF spokesperson told Reuters that there were indeed 30,000 excess deaths involving ischaemic heart disease (IHD) in England between March 2020 and August 2022. Reuters has addressed similar claims linking COVID-19 vaccines with excess mortality (here, here and here), cardiac arrests (here, here and here), and other heart issues. Experts say the 30,000 excess cardiovascular deaths reported since the beginning of the pandemic are due to COVID-19 infection and issues with healthcare services.

☆ Halliburton's stellar Q4 shows strong oil demand can sustain the Club holding through 2023
▼ + stars: | 2023-01-24 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Bottom line Halliburton served up another strong quarter, with a headline earnings beat , strong margin expansion, solid cash flows and a robust outlook. Even better, the management team doesn't expect investments in new oil-and-gas projects to wane any time soon. Given years of material underinvestment in oil-and-gas production in the U.S. and an undersupplied global oil market, management expects demand to sustain the company beyond 2023. Management expects "activity to remain strong and service intensity to increase through 2023." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Get ready for a deluge of data next week that will shape the Fed's next moves
▼ + stars: | 2023-01-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the portfolio, we'll get the latest earnings from Danaher (DHR), Halliburton (HAL), and Johnson & Johnson (JNJ) on Tuesday before the opening bell. While the results will be important as always, we are most interested in the earnings call with analysts and investors. Housing Starts fell 1.4% in December to a seasonally adjusted annual rate of 1.38 million, slightly above the 1.36 million expected. Building permits dropped 1.6% in December to a seasonally adjusted annual rate of 1.33 million, below expectations of 1.37 million. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Columbia University's Jason Bordoff on the fate of energy flows amid green transition, Ukraine war
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailColumbia University's Jason Bordoff on the fate of energy flows amid green transition, Ukraine warJason Bordoff, founding director of the Center on Global Energy Policy at Columbia University, speaks on how the green transition, underinvestment and the Ukraine war affect energy flows.

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