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☆ Australia's parliament approves gas price cap, $1 bln energy relief
▼ + stars: | 2022-12-15 | by ( Sonali Paul | ) www.reuters.com time to read: +3 min

MELBOURNE, Dec 15 (Reuters) - Australia's parliament on Thursday passed legislation setting a price cap on natural gas for one year and providing A$1.5 billion ($1.03 billion) in relief for households and small businesses hit by soaring energy costs due to Russia's war in Ukraine. The price cap will apply to new wholesale gas sales by east coast producers. The law also clears the way for the government to regulate gas sales when producers and buyers fail to agree on a contract price. The price cap met with fierce opposition from the gas industry but was supported by manufacturers and the Australian Workers' Union. Mining billionaire Andrew Forrest's private firm Squadron Energy, building a liquefied natural gas (LNG) import terminal, urged the government to require Queensland gas producers to make LNG available for the domestic market at "reasonable prices".

☆ Andrew Flintoff hospitalized after accident during 'Top Gear' filming
▼ + stars: | 2022-12-14 | by ( Jack Guy | ) edition.cnn.com time to read: +1 min

London CNN —Former England cricket captain Andrew “Freddie” Flintoff has been hospitalized after an accident during filming of the popular motoring show “Top Gear.”The incident occurred at the Dunsfold Aerodrome track in Surrey, southern England, which features regularly in the BBC show. “Freddie was injured in an accident at the Top Gear test track yesterday morning – with crew medics attending the scene immediately,” a BBC spokesperson told CNN on Wednesday. Flintoff is not the first “Top Gear” host to be injured during filming. In 2006, Richard Hammond nearly died after losing control of a Vampire dragster that he had been driving at speeds of up to 288 miles per hour. In 2017, he was hospitalized after the electric supercar he was driving crashed and burst into flames.

☆ All those tech workers who've been laid off this year? New data suggests they're going to be just fine in the job market.
▼ + stars: | 2022-12-13 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +6 min

You could do worse than an exit package from Big TechNearly 150,000 tech workers have lost their jobs in 2022, according to the layoff-tracking platform Layoffs.FYI. But tech workers are not likely to be out of a job for long. 'Pent-up demand' for tech workers in healthcare, defense, and bankingMost of the job growth for tech workers is in other industries, the Dice report found. The unemployment rate for the tech industry is hovering around 2%, according to an analysis by CompTIA, an industry association. "The arms race between tech companies on comp and benefits is over."

☆ TotalEnergies may buy green power from Fortescue in Papua New Guinea -regulator
▼ + stars: | 2022-12-08 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

SYDNEY, Dec 8 (Reuters) - Fortescue Future Industries is in talks with TotalEnergies to supply power to the fossil fuel company's Papua LNG project from a series of proposed renewable energy projects that a senior official says recently completed feasibility assessments. "Fortescue Future Industries is exploring a range of energy supply and offtake agreements globally for the supply of green energy," said an FFI spokesperson in response to a Reuters query. Fortescue Metals Group (FMG.AX) founder Andrew Forrest signed a flurry of green hydrogen deals over 2020 and 2021 as the iron ore miner's wholly owned clean energy subsidiary looks to become a major green hydrogen producer. Feasibility studies for hydropower projects are also completed, with priority given to a project which could provide power to Papua LNG. He expected FFI would make final investment decisions for the hydropower and geothermal projects in 2023.

Forrest said in a statement Squadron had acquired CWP Renewables but did not disclose the price. And the more we create and deploy new renewable energy, the cheaper it becomes for every Australian and the world," Forrest told Reuters after the announcement. With CWP Renewables, Squadron would have the scale it needs to meet demand from large commercial and industrial customers for reliable green energy in eastern Australia, he said. Willoughby said CWP aimed to give the go-ahead by March 2023 to build a 400 MW wind farm, which would cost more than A$1 billion. There are literally trillions of dollars of capital looking for green energy projects," he said.

SYDNEY/MELBOURNE, Dec 7 (Reuters) - Mining billionaire Andrew Forrest's private firm Squadron Energy has acquired CWP Renewables in Australia for more than A$4 billion ($2.7 billion), three people familiar with the deal said on Wednesday. Forrest said in a statement Squadron had acquired CWP Renewables, owner of 1.1 gigawatts of wind farms and a development pipeline of 1.3 GW of wind and solar farms in Australia, but did not disclose the price. CWP was sold by Swiss-based investor Partners Group (PGHN.S), which said it built the Australian business up after first investing in the Sapphire Wind Farm in the state of New South Wales in 2016. Other companies that had looked at CWP included Spain's Iberdrola (IBE.MC), Tilt Renewables, partly owned by AGL Energy (AGL.AX), and Origin Energy (ORG.AX), all aiming to expand in renewable energy as Australia speeds up its transition away from coal-fired power. With CWP Renewables, Squadron would have the scale it needs in eastern Australia to meet demand from large commercial and industrial customers for reliable green energy, Forrest said.

☆ Australia's Fortescue taps Woodside veteran as CEO amid green energy push
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Australia's Fortescue Metals Group (FMG) can be seen on a bulk carrier as it is loaded with iron ore at the coastal town of Port Hedland in Western Australia, November 29, 2018. REUTERS/Melanie Burton/File PhotoNov 29 (Reuters) - Australia's Fortescue Metals Group (FMG.AX) on Tuesday appointed former Woodside Energy (WDS.AX) executive Fiona Hick as its chief executive officer, effective February 2023, as Elizabeth Gaines made way for a new boss in August. Hick joins Fortescue at a time when the iron ore giant is delving into mining of critical minerals and rare-earths and is also striving to transition into a green energy firm through its unit Fortescue Future Industries (FFI). She will lead Fortescue Metals' mining arm, culminating a year-long search by the company's billionaire-founder and chairman Andrew Forrest. Gaines, who oversaw a tripling in the share price of one of the world's biggest iron ore miners in the past four years, remains on Fortescue's board as a non-executive director.

☆ The 11 Best Flannel Shirts for Men, According to Style Experts
▼ + stars: | 2022-11-27 | by ( ) www.wsj.com time to read: +5 min

By Rachel MoselyWhether your current climate is mild wintry bliss or more like cold-weather chaos, the flannel shirt can be a wardrobe hero this season. To find out, we asked fashion pros for their flannel favorites, from bold plaid and buffalo-check versions to subtler monochromatic pieces. Formal(ish) pickFor an elevated spin on flannel, consider this wool-cashmere option from Ralph Lauren, suggests New York City-based stylist Andrew Franco. Patchwork printA mix of multihued, cotton flannel panels gives this shirt an eye-catching effect. Pair the flannel with chinos, corduroys, denim or even sweatpants to “go all in on the skater look,” Tsui adds.

☆ How FTX's implosion put crypto news sites like CoinDesk, The Block, and Decrypt in the spotlight as they work to fend off an ad slump and conspiracy theories about their coverage
▼ + stars: | 2022-11-24 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +15 min

Crypto news sites like CoinDesk, The Block, and Decrypt have dominated coverage of the FTX implosion. Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. "We cover the good, the bad and the ugly," Dan Roberts, the editor-in-chief of Decrypt, told Insider. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet.

☆ Corporate America is bracing for a rise in activist investing. Meet the 13 lawyers on speed-dial when companies and investors fight for boardroom control.
▼ + stars: | 2022-11-23 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +11 min

Law firms including Olshan Frome Wolosky LLP and Schulte Roth & Zabel are go-tos for activist investors looking to change how companies do business. Kai Liekefett, who co-chairs Sidley's shareholder activism practice, last year successfully defended cloud company Box Inc. in a proxy fight by Starboard. Liekefett has also defended clients against major activist investors including Carl Icahn and Trian Partners. He has advised clients against major activist investors including Trian, Carl Icahn, Starboard Value and the billionaire Paul Singer. Lawrence Elbaum and Patrick Gadson, Vinson & ElkinsPatrick Gadson (L) and Lawrence Elbaum (R), co-heads of Vinson & Elkins' shareholder activism group.

☆ The story of Sam Bankman-Fried's FTX implosion put crypto news sites like CoinDesk and The Block on the map. Inside their plan to fend off an ad slump and conspiracy theories — and keep winning.
▼ + stars: | 2022-11-21 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +14 min

Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. Crypto media kicks into overdriveRoberts said Decrypt's traffic doubled during the first week of the FTX saga. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet. "It's now a situation where the crypto media has egg on their face.

☆ Taylor Swift public ticket sale on Friday is canceled, Ticketmaster says. But the secondary market can be 'buyer beware'
▼ + stars: | 2022-11-17 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Kevin Mazur | Wireimage | Getty ImagesDeals for hot tickets, you're virtually not going to find one. Why concert tickets are a 'buyer beware' marketSome Taylor Swift fans who bought seemingly legitimate tickets have already discovered they were duped. Buying tickets on the "secondary market" poses an elevated risk of fraud and/or exorbitant prices for consumers, entertainment-industry experts warned. "There are almost so many [secondary sellers] that you just can't keep up," Cobb said. Of course, this isn't to say secondary sellers are grifters in all circumstances.

☆ Silicon Valley chip startup Cerebras unveils AI supercomputer
▼ + stars: | 2022-11-14 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

[1/2] Startup Cerebras System's new AI supercomputer Andromeda is seen at a data center in Santa Clara, California, U.S. October 2022. Rebecca Lewington/Cerebras Systems/Handout via REUTERSOAKLAND, Calif. Nov 14(Reuters) - Silicon Valley startup Cerebras Systems, known in the industry for its dinner plate-sized chip made for artificial intelligence work, on Monday unveiled its AI supercomputer called Andromeda, which is now available for commercial and academic research. Andromeda is built by linking up 16 Cerebras CS-2 systems, the company's latest AI computer built around the over-sized chip called the Wafer-Scale Engine 2. This is less than $35 million,” said Andrew Feldman, founder and CEO of Cerebras when asked about the Frontier supercomputer. Feldman said Andromeda is owned by Cerebras and built at a high performance data center in Santa Clara, California called Colovore.

☆ The U.S. Inflation Reduction Act is a 'master stroke,' says Fortescue
▼ + stars: | 2022-11-14 | 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 EmailThe U.S. Inflation Reduction Act is a 'master stroke,' says FortescueAndrew Forrest of the Australian iron ore company says the bill is "probably one of the best… economic policies to come out of North America in decades."

Yet the situation is not dire: tech job postings rose over 3% from September to October, data shows. In the tech industry, as of October, the unemployment rate stood at 2.2%, whereas the national unemployment rate was 3.7%. Andrew Flowers, the lead labor economist at Appcast, a software company that helps companies with their recruiting, said his "sense is that these factors hurt tech companies but not tech workers." "The outlook for tech occupations is much stronger than the outlook for the tech industry," he said. Artificial intelligence, cybersecurity, and cloud-computing skills are the top in-demand skills in the tech industry, according to a September analysis by Indeed.

Tracking the most competitive statesEach party needs to win a share of the most competitive races for Senate control. The win targets below are based on what each party needs for control after accounting for the races the parties are expected to win most easily. Alaska is expected to be won by one of the two Republicans leading the vote count in that state.

Tracking the most competitive districtsEach party needs to win a share of the most competitive districts for House control. The win targets below are based on what each party needs for control after accounting for the races the parties are expected to win most easily. There is one race in a district rated competitive prior to the election that has not yet been called.

☆ Wall Street is bracing for a potential game changer, but it's not the midterms
▼ + stars: | 2022-11-08 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN Business —Wall Street is waiting for the results of Tuesday’s midterm election like the rest of the world, but traders say this week’s inflation report may prove to be far more consequential to markets. Traders typically believe gridlock is good because it means one party can’t push through legislation that messes things up. Andrew Frankel, co-president of Stuart Frankel, agrees that a GOP victory is “baked in” and shouldn’t trigger a major market rally. If anything, Frankel said, it could be a sell-on-the-news event where markets retreat after getting confirmation of a GOP win. Multiple NYSE traders told CNN that the midterm election may be overshadowed by Thursday’s Consumer Price Index, an inflation gauge that has become arguably the most important economic metric of the month.

☆ Databricks is joining rival Snowflake in backing a $1.5 billion startup as they race to own the way companies use their data
▼ + stars: | 2022-11-08 | by ( Matthew Lynley | ) www.businessinsider.com time to read: +3 min

Databricks said it's making a strategic investment in the $1.5 billion data startup Matillion. It's one of a few coinvestments with a rival, Snowflake, as the two race to own the data experience. Another unicorn startup is joining the small club of companies backed by both Snowflake and Databricks, the big-data rivals that are racing to own companies' entire experiences working with their data. The Databricks Ventures partner Andrew Ferguson said Matillion appealed to a slightly different customer profile than that of Databricks' traditional highly technical audience. While data budgets may be getting more scrutiny, there hasn't been any significant impact in the company's performance, he said.

☆ Coca-Cola's sponsorship of COP27 is 'all wrong,' says Andrew Forrest
▼ + stars: | 2022-11-07 | 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 EmailCoca-Cola's sponsorship of COP27 is 'all wrong,' says Andrew ForrestAndrew Forrest, co-founder and chairman of Fortescue Metals Group, says Coca-Cola's sponsorship of COP27 is "all wrong."

☆ Wall Street slashes price targets this earnings season. Here are 13 stocks that bucked the trend
▼ + stars: | 2022-11-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

As Wall Street banks cut share price targets across the board this earnings season, only a handful of companies have bucked the trend, an analysis by CNBC Pro reveals. About 20 stocks emerged with a meaningfully higher price target of 5% or more compared to a month ago. Of these, only 13 still offer a potential upside of at least 5% to their current share price . The median price target for SLB represents a 13.5% upside potential, according to FactSet data. Loews Corp was excluded from the analysis as price targets or estimates were unavailable during the analysis.

☆ Here’s how to adjust your portfolio as the Fed hikes interest rates again
▼ + stars: | 2022-11-02 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

After another 0.75 percentage interest rate hike from the Federal Reserve, financial experts have tips for investors amid volatility in the stock and bond markets. Continuing to fight inflation, the central bank on Wednesday announced its fourth consecutive three-quarters of a percentage point interest rate increase. More from Personal Finance:Series I bond to pay 6.89% annual rate for the next six monthsHere's what the inverted yield curve means for your portfolioEducation Dept. While some experts believe certain yield curve inversions may forecast a future recession, financial advisors say the economic conditions may also provide timely options for investors. "There are absolutely opportunities present with an inverted yield curve," said Andrew Fincher, a certified financial planner at VLP Financial Advisors in Vienna, Virginia.

☆ Ford October sales slide 10% largely due to supply chain issues
▼ + stars: | 2022-11-02 | by ( Michael Ballaban | ) edition.cnn.com time to read: +1 min

New York CNN Business —Ford saw its October US sales slump 10% over the last year as the company continued to battle supply chain difficulties. Ford sold 158,327 vehicles last month, down from almost 176,000 vehicles in the same period last year, the company said Wednesday. Not all automakers saw sales declines, however. Korean automakers Hyundai and Kia reported strong sales for the third month in a row, and Japanese automaker Toyota saw year-over-year sales rise 28% in October. Issues getting cars delivered to customers aside, “Ford continues to see strong demand for its vehicles,” Ford’s vice president in charge of sales for gasoline-fueled vehicles, Andrew Frick, said in a statement.

☆ Ford's October sales slide 10% amid supply chain issues
▼ + stars: | 2022-11-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT – Ford Motor's U.S. sales last month declined by 10% as the automaker battled through supply chain issues that delayed shipments to dealers. Ford has experienced unique supply chain issues lately, including sourcing of its blue oval badges for highly profitable pickup trucks and SUVs. Ford said orders for 2023 model-year vehicles totaled 255,000. Ford's 2022 all-electric vehicle sales totaled roughly 47,500 units through October, accounting for about 3% of the automaker's sales. Ford is among a handful of automakers to report new monthly vehicle sales.

☆ What do Indians think about Rishi Sunak’s rise? Like UK-India relations, it’s complicated
▼ + stars: | 2022-10-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +13 min

Now, an Indian-origin man has become the Prime Minister of England,” a Zee News anchor said. Leon Neal/Getty Images Sunak and Boris Johnson watch as a sheep is sheared during a visit to a farm in North Yorkshire, England, in July 2019. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022. Indian Prime Minister Narendra Modi suggested as much in a tweet welcoming Sunak’s appointment.

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