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☆ Klaviyo CEO Andrew Bialecki explains why the company is only '1% done'
▼ + stars: | 2024-03-11 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Klaviyo, the marketing tech company that went public on the New York Stock Exchange last September, has an internal motto that's meant to motivate its employees and make them less afraid of failure: "We're 1% done." CEO Andrew Bialecki compared the idea to the progress bar that might appear on your screen when you're downloading a software update. Bialecki says Klaviyo can directly demonstrate the impact of its tech using a metric the company calls "Klaviyo Attributed Value." The company said it generated more than $50 billion in Klaviyo Attributed Value in 2023. The company reported fourth-quarter earnings — their second as a public company — on February 27.

Persons: Andrew Bialecki, you've, Bialecki, Klaviyo, There's Organizations: New York Stock Exchange, Business, — Locations: Shopify

☆ How the Canadian mortgage model could help unfreeze the housing market
▼ + stars: | 2024-03-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Read previewCopying the way mortgages work in countries such as Canada and the UK could help thaw the frozen US housing market, experts say. Prospective buyers are also balking at paying such high mortgage rates, especially when national home prices are near record levels, fueling an affordability crisis. AdvertisementOffering portable mortgages would enable hesitant sellers to keep their rock-bottom mortgage rates when they move, potentially boosting overall inventory and transaction volumes. She suggested the best fix for the frozen housing market will be if inflation cools, the Fed cuts interest rates, and mortgage rates fall to historical norms. Fannie Mae and Freddie Mac, the government-sponsored enterprises that direct the mortgage market, would have to be on board to make mortgage portability a reality, but that doesn't appear to be the case.

Persons: —, Julia Fonseca, Fonseca, Richard Martin, University of Georgia's Terry, Susan Wachter, Wachter, Fannie Mae, Freddie Mac Organizations: Service, Business, University of Illinois, University of Georgia's, University of Georgia's Terry College of Business, The Wharton School, Federal Reserve, Federal Housing Finance Agency, American Banker Locations: Canada, University of Illinois Urbana, Champaign, conservatorship

☆ Archimedes’ death ray might have worked, teen science project suggests
▼ + stars: | 2024-03-08 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +7 min

But one fabled device has left scientists speculating on its existence for hundreds of years — the death ray. For his 2022 science project, Sener recreated the Archimedes screw, a device for raising and moving water. Sener found the death ray to be one of the more intriguing devices — sometimes referred to as the heat ray. Archimedes’ death ray is more commonly speculated to have been an array of several mirrors or polished shields. Sener’s mom, Melanie, was not surprised by her son’s choice in science project.

Persons: Archimedes, Brenden Sener, Sener, ” Sener, Melanie Sener, Cliff Ho, Ho, ”, “, Thomas Chondros, Melanie, … He’s Organizations: CNN, London Public, Canadian Science Fair, Sandia National Laboratories, US Department of, National Nuclear Security Administration, Greece’s University of Patras, Massachusetts Institute of Technology, University Locations: Greece, London , Ontario, Syracuse, Albuquerque , New Mexico, Chondros

☆ Dollar falls with Treasury yields on views of looming U.S. rate cuts
▼ + stars: | 2024-03-07 | by ( ) www.cnbc.com time to read: +3 min

Against the yen , the dollar bottomed at a roughly one-month trough of 148.94 in early Asian trade on Thursday. The euro and sterling held near one-month highs struck in the previous session and last bought $1.0902 and $1.2738 respectively. Market bets for imminent cuts also kept U.S. Treasury yields under pressure, with the two-year yield which typically reflects near-term rate expectations — last at 4.5640%. All of that left the greenback pinned near a one-month low against a basket of currencies. The New Zealand dollar rose 0.05% to $0.6133, while the Australian dollar edged 0.11% higher to $0.6572.

Persons: bitcoin, Jerome Powell, Carol Kong, Powell, Simon Harvey Organizations: U.S, Federal, Treasury, Commonwealth Bank of Australia, Fed, Canadian, Bank of Canada, BoC, Wednesday, New Zealand

☆ Off the Board Game, Onto the Digital Canvas
▼ + stars: | 2024-03-06 | by ( Travis Diehl | ) www.nytimes.com time to read: +1 min

The capricious churn of internet-charged culture is producing more main characters, apocrypha and relics than we can handle. Simon Denny, an artist working in Berlin, creates sculptures, installations, videos and prints inspired by the aesthetics of tech companies. In two concurrent shows in Manhattan he has seized on omens like the blade to explore the sociopolitical fallout of the technology industry’s taste for medieval lore. In Denny’s telling, dreams of wizards and blacksmiths, dark forests and dank castles shape the newest digital realms. The sculpture is plugged into a power strip that Denny sourced from a liquidation sale at Twitter during its Musk-mandated transition to X.

Persons: Grimes —, Elon Musk —, Simon Denny, ”, Denny Organizations: Twitter Locations: Canadian, Berlin, Manhattan, New York, Grimes

☆ Why a warehouse giant is planning a $25 billion push into data centers
▼ + stars: | 2024-03-06 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

He will fill the newly created role of global head of data centers at the firm. Prologis's push exemplifies the growing interest among investors in data center deals, including players who have not traditionally been involved in the highly specialized industry. Warehouses have squat footprints similar to data centers and are often located in industrial areas that have proximity to the heavy electrical lines and equipment necessary to deliver voluminous power that data centers require. Warehouse growth slows as data centers accelerateDemand for data centers has steadily grown over the past decade, driven by the widespread use of cloud computing and storage across corporate America. Blackstone, for instance, has said it plans to develop as much as $50 billion of data centers in the coming years.

Persons: Chris Curtis, Curtis, Michael Hochanadel, Hochanadel, Harrison, They're, Joseph Ghazal, Ghazal, Hamid Moghadam, JLL, Morgan Stanley, Blackstone, Vince Tibone, Tibone, Prologis's, Ron Kamdem, Moghadam, Carl Beardsley, Beardsley, Chris Crosby, Prince William County, Prologis Organizations: Business, Harrison, Green, Amazon, Google, Microsoft, Brookfield, Blackstone, Compass Locations: San Francisco, Dallas, America, Brookfield, Canadian, Prince William, Virginia

☆ I didn't think I wanted to have kids until a boyfriend changed my mind. We started planning for the future — then, he ghosted me.
▼ + stars: | 2024-03-05 | by ( Melissa Persling | ) www.businessinsider.com time to read: +8 min

He told me his friends and family wanted to know about me, "the American girl." I don't know if I recognized it then, but the Canadian was changing me too. I told myself they didn't know or understand him as I did. Ultimately, he said he hoped to have the life he wanted with me when he was ready — but that time was not now. This was two and a half months ago, and I still don't know whether I want kids or whether I want them with him.

Persons: didn't, I'd, —, We'd, hadn't, we'd, FaceTimed, I'm Organizations: Service Locations: Seattle, Spokane , Washington, Alberta, Canada, Spokane

☆ ‘The Program’ takes a deeply personal look at the ‘troubled-teen’ industry
▼ + stars: | 2024-03-05 | by ( Brian Lowry | ) edition.cnn.com time to read: +4 min

CNN —A deeply personal advocacy piece, “The Program: Cons, Cults and Kidnapping” becomes messy at times over its three chapters, although in a way, that’s part of its power. Kubler assembles a group of others who were sent away, mostly at the age of 15 or 16, to The Academy at Ivy Ridge, a disciplinary facility in New York state near the Canadian border. The Academy at Ivy Ridge survivors in "The Program: Cons, Cults and Kidnapping." Kubler stresses throughout that she’s not a journalist, but rather someone seeking answers to what happened then, shining a light on the emotional scars suffered by Ivy Ridge survivors. “The Program: Cons, Cults and Kidnapping” premieres March 5 on Netflix.

Persons: Katherine Kubler, ”, Kubler, Ivy, “, Phil Elberg, There’s Organizations: CNN, Netflix, The Academy, Ivy Ridge, Academy, Ivy Locations: Ivy, New York

☆ The rise of 'zombie' VCs puts startups that took funding from them in a difficult spot
▼ + stars: | 2024-03-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

What's on deckAdvertisementBut first, zombie, zombie, zombie-ie-ie-ie. AdvertisementThat's why zombie VCs pose such a problem for the industry. Sussing out the prudent investor from the penniless one takes time and effort, two things startups can't necessarily afford when times are tough. AdvertisementIs having a zombie VC as an investor the equivalent of a scarlet letter? If a partner jumps ship from a zombie VC, startups they backed will be in a tough spot.

Persons: —, here's, Insider's Ben Bergman, Ben, it's, Alyssa Powell, Morgan Stanley, Goldman Sachs, Ray Dalio isn't, Sundar Pichai, Marissa Mayer, Yahoo's, Cory Doctorow, He's, Smashmallow, they've, Jack Teixeira, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, BI, Bridgewater, Bank of America, Trading, Google, Canadian, Singapore Locations: There's, Silicon Valley, British, Singapore, Israel, New York, London, Chicago

Port-au-Prince, Haiti CNN —From above, Haiti’s capital city Port-au-Prince still looks serene, its white-washed homes climbing steep green hills that encircle a glittering bay. Police officers run holding their guns while confronting a gang in Port-au-Prince, Haiti March 1, 2024. Haiti’s gangs were once seen as thuggish instruments for powerful politicians and business elites. Haitian Prime Minister Ariel Henry at the United States International University Africa, in Nairobi on March 1, 2024. Anger toward the government for Haiti’s gangs problem is misplaced, he also said, emphasizing that the government has limited options.

Persons: Toussaint, Prince, Ariel Henry, Haiti’s, “, ”, Jimmy “, Robin Hood, Ralph Tedy Erol, Henry, “ Ariel Henry, Haiti Ulrika Richardson, Kraze Barye, John Bosco, Jeremie, CNN’s, Ariel kraze peyi, Ariel, Jovenel Moise, Guy Philippe, Odric Octina, Johnson Sabin, Shutterstock, Simon Maina, Henry’s, Jean Junior Joseph, –, Leinz Vales, Sean Walker Organizations: Haiti CNN, CNN, Police, United Nations, FBI, Global, Transnational, UN, National Police, Haitian, Canadian Embassy, Catholic, St, Bank, ”, Haitian Environment, Penitentiary, Reuters, Haiti, Caricom, United States International University Africa, Getty, Kenyan, United Nations Security Council, United Locations: Prince, Haiti, Port, Toussaint L’Ouverture, Kenya, New York, Delmas, Cité, Kizito, Jeremie, farmworkers, United States, Canada, It’s, Haitian, West, Nairobi, AFP

☆ Facebook is getting rid of the News tab in the U.S. and Australia
▼ + stars: | 2024-03-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Meta said Thursday that it would remove a dedicated section for news articles in April that will affect Facebook users in the United States and Australia. "The number of people using Facebook News in Australia and the U.S. has dropped by over 80% last year." Meta's decision to remove the Facebook News tab comes after the company said in September that it would eliminate the news section for Facebook users in the U.K., France and Germany. However, Meta said that it "will not enter into new commercial deals for traditional news content in these countries and will not offer new Facebook products specifically for news publishers in the future." A year ago, Facebook represented about 50% the media outlets' social traffic.

Persons: Meta's Mark Zuckerberg, Zuckerberg, Jay Y, Lee, Meta, it's, Chartbeat, Similarweb, Mother Jones, Monika Bauerlein, Bauerlein, Sam Altman Organizations: Meta, Samsung Electronics, South Korean, Seoul Economic, Facebook, U.S, CNBC, Canadian, Nvidia Locations: South Korea, Seoul, United States, Australia, France, Germany

☆ My wife and I are raising 2 kids in Japan. Our marriage is not recognized here — but it still feels easier than back home.
▼ + stars: | 2024-02-28 | by ( Carey Finn | ) www.businessinsider.com time to read: +5 min

When my kids are old enough, my wife and I plan to get them into judo gear. AdvertisementHaving kids in Japan, as a same-sex couple, has been hard. We started talking seriously about building a family early on, given that we were both already in our mid-30s and worried that waiting would diminish our chances of success. AdvertisementDespite the acceptance of our medical team, however, the Japanese birth certificates that we received list each of us as a single mom. For now, we're comfortably settledHer partner Ali and two kids playing in the fall leaves in Japan.

Persons: —, Ali, Finn, Carey Finn, we're, we'll, we've Organizations: Service, Japan Exchange, Teaching, JET, boro Locations: Japan, Cape Town , South Africa, Canada, Tokyo, South Africa

☆ Kamila Valieva: Canadians and Russians file appeals on re-ranking of 2022 Winter Olympics figure skating team event
▼ + stars: | 2024-02-26 | by ( Jill Martin | ) edition.cnn.com time to read: +2 min

CNN —The dispute over the final standings of the figure skating team event at the 2022 Winter Olympics rumbles on, with Canada and Russia filing cases with the Court of Arbitration for Sport (CAS). The Canadians are appealing to move up from fourth place to bronze, while the Russians are claiming its ROC team should be moved back up into gold medal position after dropping to bronze. Originally, when the Olympic event was held in 2022, the ROC won gold in the event, with the US winning silver and Japan earning bronze. The positive test result came from a sample collected during the Russian national championships, which were held prior to the Winter Olympics. CAS announced on Monday that the arbitration procedures following the Russian and Canadian appeals have just commenced, adding that there is no indication of when a potential hearing might take place.

Persons: Kamila, Valieva Organizations: CNN, Sport, Skating Union, ISU, Russian Olympic Committee, ROC, Russian, Winter Locations: Canada, Russia, Beijing, Japan

☆ Christopher Morales Williams: Canadian teenager breaks 400m indoor world record
▼ + stars: | 2024-02-26 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Canadian teenager Christopher Morales Williams ran a stunning 400-meter world indoor record at the SEC Indoor Championships in Fayetteville, Arkansas, on Saturday. In 2018, American Michael Norman ran an indoor time of 44.52 which couldn’t be ratified as a record by World Athletics. “The world record – I guess that’s something you wouldn’t really expect to happen, but it did,” Morales Williams told reporters after Saturday’s race. And then I guess that’s always the result of it.”Morales Williams won the Canadian national championships and a silver at the Pan American U20 championships last year. Prior to that, he was part of Canada’s silver medal team in the 4x400-meter relay at the World U20 Championships in 2022.

Persons: Christopher Morales Williams, Morales Williams ’, Michael Norman, couldn’t, “, ” Morales Williams, wasn’t, Jevaughn Powell, ”, that’s Organizations: CNN, SEC, World Athletics, University of Georgia, Canadian, Pan American U20 Locations: Fayetteville , Arkansas, Ontario

☆ Canadian Skaters Demand Bronze Medals in Olympics Dispute
▼ + stars: | 2024-02-26 | by ( Tariq Panja | ) www.nytimes.com time to read: +1 min

Nearly a month after international figure skating’s governing body revised the results of a marquee competition at the 2022 Beijing Winter Olympics, stripping Russia of the gold medal and giving the United States team a long-delayed victory, a new fight about the outcome erupted on Monday. Eight members of the Canadian squad that competed in the team competition in Beijing have filed a case at the Court of Arbitration for Sport demanding that they be awarded bronze medals in the team event. The court announced the filing but revealed no details. The Canadians, whose case was joined by their country’s skating federation and national Olympic committee, are expected to argue that figure skating’s global governing body erred when it revised the results of the competition in January after a Russian skater who had taken part, the teenage prodigy Kamila Valieva, was given a four-year ban for doping.

Persons: Kamila Valieva Organizations: United States, Canadian, Sport, Canadians, Olympic Locations: Russia, Beijing, Russian

☆ Exceptionally warm weather on the way for central, eastern US due to pattern change
▼ + stars: | 2024-02-23 | by ( Mary Gilbert | ) edition.cnn.com time to read: +4 min

The core of the unseasonable warmth spreads east on Tuesday to encompass much of the Great Lakes and Ohio Valley. A storm forecast to develop near the Great Lakes late Tuesday could unload rain and thunderstorms on much of the East into Thursday. Across the Midwest and Great Lakes, snowfall is a few feet below what’s normal by this point. Ice is also almost nowhere to be found on the Great Lakes. Close to 40% of the Great Lakes are typically covered in ice by late February, but total ice coverage was near a record-low 6% Thursday.

Persons: Louis, Dallas, Paul Organizations: CNN, CNN Weather Omaha, Triple, ., Ohio Locations: Dallas, Minneapolis, Philadelphia, Gulf of Mexico, St, Chicago, CNN Weather Omaha , Nebraska, Texas, Mexico, Lakes, Ohio, Cleveland, Coast, . Philadelphia, New York City, Gulf, Midwest, Northeast, Great, Syracuse , New York, Erie , Pennsylvania

☆ Jim Cramer says buy this data center equipment firm despite its weak guidance
▼ + stars: | 2024-02-21 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

Vertiv Holdings : The data center equipment maker, whose shares have roughly quadrupled over the past year, issued guidance that didn't live up to Wall Street's lofty expectations. "Data center still strong. Teladoc Health : Shares tumbled 24% after the telehealth provider's quarterly revenue missed estimates and offered soft guidance. Bausch + Lomb : Shares jumped more than 8% after the Canadian eye-care company delivered a better-than-expected quarter alongside an upbeat sales forecast. SolarEdge Technologies : While the solar company's quarterly loss was smaller than anticipated, its current quarter guidance was weak, sending the stock sliding more than 15%.

Persons: Jim Cramer, Jim, Bausch, they've, Brent Saunders, SolarEdge Organizations: Vertiv Holdings, Teladoc, SolarEdge Technologies

☆ Psilocybin: These athletes suffered life-changing injuries. Then, they turned to psychedelics.
▼ + stars: | 2024-02-19 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +17 min

Last year, Australia became the first country in the world to legalize clinical prescribing of MDMA, more commonly known as ecstasy, and psilocybin for certain mental health disorders. Elite athletes experience mental health disorder symptoms and psychological distress at similar, if not higher, rates to the general population, researchers pointed out in a study published in the Journal of Applied Sport Psychology. Researchers in the field say that psychedelics are shown to work when treating some mental health conditions. Later, he founded Wesana Health, a biotechnology company which focuses on developing psychedelic medicine for mental health, the most recent being a CBD and psilocybin-based drug. Since her retirement as a professional athlete, Symonds explains that she uses psychedelic drugs for clarity, though not under the direction of a doctor.

Persons: CNN — Daniel Carcillo, Carcillo, ”, Jeff Gross, “, –, Aaron Rodgers, ayahuasca, Dustin Satloff, ” Rodgers, Mike Tyson, Dana White, Courtney Walton, ” Walton, Jeff Novitzky, White, Novitzky, Johns Hopkins, we’ve, ‘, ’ ”, Chris Unger, ” Robin Carhart, Harris, Ralph Metzner, University of California San Francisco, psychedelics, ” Carhart, Carhart, psychedelics aren’t, ” James Rucker, ” Rucker, I’ve, Jonathan Daniel, Lucy, Anna Symonds, Symonds, James MacDonald, Rucker, “ They’re Organizations: CNN, Canadian, NHL, Philadelphia Flyers, New York Rangers, Los Angeles Kings, Chicago Blackhawks, CNN Sport, ” Sporting, Harvard Health, Oregon, UFC, Elite, Applied Sport Psychology, Melbourne School of Psychological Sciences, Athlete Health, University of Miami, Neurology, Psychiatry, University of California San, Centre for Psychedelic Research, Imperial College London, King’s College London, Imperial College of London, Getty, Wesana Health, US Food and Drug Administration, NASDAQ, Lucy Scientific, Former US, Addiction Center, US National Institutes of Health, Numinus Bioscience, Bloomberg, Prevention, Befrienders Locations: Denver, Colorado, psychedelics, Australia, “, Nanaimo

But when the 91-year-old got his first virtual reality experience recently, he was stunned. “For the majority of our respondents, it was their first time using virtual reality. The Texas-based company is one of a handful that specializes in virtual reality for seniors. She said that with others who don't talk much perk up when given a VR experience putting them in nature. On a recent afternoon at John Knox, a handful of seniors who live independently took turns again using virtual reality.

Persons: Farrell Patrick, Patrick, John Knox, Terry Colli, ” Anne Selby, ”, Ryan Moore, Chris Brickler, Hana Salem, Salem, ” Brickler, Brickler, Moore, Pete Audet, Audet, “, Karen, Karen Audet, Farrell Organizations: —, Army, John Knox, Navy, VR, John, Stanford University, Canadian Embassy, Washington , D.C, John Knox Village, Google Locations: POMPANO BEACH, Fla, West, Fort Lauderdale , Florida, Florida, Paris, Egypt, Washington ,, Texas

☆ These are the only 2 ETFs that made money every year for the past decade
▼ + stars: | 2024-02-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Two funds investing in defensive stocks are the only exchange-traded funds in the world that had a positive return every year over the past decade, CNBC Pro research has found. The two funds stood out among 8,300 equity ETFs worldwide screened by CNBC Pro using FactSet data. Over that period, the ETF more than doubled investors' money, with a cumulative total price gain of 118%. While the MSCI Healthcare index, valued in euros, dipped slightly into negative territory in 2016, 2020 and 2022, the Amundi ETF's total returns have remained positive because of the weakness in the pound sterling. However, Tabet also pointed out that the health-care sector, especially European pharma, tends to underperform in election years.

Persons: Joakim Tabet, Kepler, Tabet, Vincent Denoiseux, David Evans, Evans, Kepler Cheuvreux Organizations: CNBC, Healthcare UCITS, London Stock Exchange, TSX, Consumer Staples, CNBC Pro, Outlook Novo Nordisk, Novo Nordisk's, pharma, European pharma Locations: Canadian, Europe, Danish, Novo, U.S

☆ How Red Wine Lost Its Health Halo
▼ + stars: | 2024-02-17 | by ( Alice Callahan | ) www.nytimes.com time to read: +1 min

“The answer to the riddle, the explanation of the paradox, may lie in this inviting glass,” Mr. Safer said, raising a glass of red wine to viewers. Safer said, that wine had “a flushing effect” that prevented blood clot-forming cells from clinging to artery walls. This, according to a French researcher who was featured in the segment, could reduce the risk of a blockage and, therefore, the risk of a heart attack. And researchers were finding that the Mediterranean diet, which has traditionally encouraged a glass or two of red wine with meals, was a heart-healthy way of eating, he added.

Persons: Morley Safer, Safer, Doctors, Tim Stockwell Organizations: CBS, Mr, Canadian Institute for Substance Locations: United States

☆ Last Chance Lake: A ‘soda lake’ in North America could point to the origin of life on Earth
▼ + stars: | 2024-02-17 | by ( Ayurella Horn-Muller | ) edition.cnn.com time to read: +9 min

Last Chance LakeLast Chance Lake is no more than 1 foot deep. Haas displays a piece of dry-season lake crust taken from Last Chance Lake in September 2022. Last Chance Lake isn’t 4 billion years old — in fact, it’s estimated to have been around less than 10,000 years. Past studies suggest a primordial version of the soda lake may very well have included the substance. “Understanding how life originated on Earth has this importance for our search for life outside of Earth,” Haas told CNN.

Persons: —, David Catling, “, ” Catling, It’s, Sebastian Haas, Haas, David C, isn’t, ”, ” Haas, Catling, Charles Darwin, Matthew Pasek, Pasek, they’re, Woodward Fischer, Ayurella, Muller Organizations: CNN, British Columbia, University of Washington, geosciences, University of South, California Institute of Technology, “, Climate Central Locations: Canadian, British, British Columbia, Chance, Yellowstone, University of South Florida, Axios, ”

☆ Shopify's new price hikes could put pressure on its app developer ecosystem
▼ + stars: | 2024-02-14 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

The price hike comes a year after Shopify raised prices for its base subscription plan. Many have shrugged off the most recent price increase. Shopify frequently touts its third-party app ecosystem as an advantage for merchants looking to grow their business efficiently. Many of the most popular Shopify apps have also raised prices recently. It's possible that some lower-volume Plus merchants will downgrade to more basic subscription options due to cost.

Persons: —, Shopify, Andy Cloyd, Stephen Watson, Cloyd, ” Erman Küplü, Küplü, ” Watson, Jeff Hoffmeister, Hoffmeister Organizations: Service, Merchants, Business, Elysian Solutions, BI Locations: GMV, North America, mstone@insider.com

☆ These oil companies could be the next takeover targets in Permian Basin after Diamondback deal
▼ + stars: | 2024-02-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Diamondback Energy took one of the last major, privately held operators in the Permian off the table this week when it agreed to buy Endeavor Energy Resources for $26 billion. The deal is poised to catapult Diamondback into the top tier in the Permian, the most prolific oil patch in the U.S. that stretches from western Texas into southeastern New Mexico. The top six companies in the Permian are set to own 62% of the basin's remaining oil reserves, according to Rystad Energy. The stubborn holdouts After the Diamondback-Endeavor and Occidental-CrownRock deals, the only other major privately held producers left in the Permian are Continental Resources and Mewbourne Oil. Conoco could potentially seek to acquire Permian Resources , Civitas , Coterra, Vital Energy or Ovintiv , Bernstein said.

Persons: Matthew Bernstein, Bernstein, Hess, Andy Lipow, Neal Dingmann, Mewbourne, Dingmann, Ovintiv, Enerplus, Bob Yawger, Yawger, weren't, Ryan Lance, Lance, Conoco, EOG Organizations: Diamondback Energy, Endeavor Energy Resources, Diamondback, Exxon Mobil, Chevron, Rystad Energy, Truist Securities, CRFA Research, Endeavor, CNBC, Exxon, Natural Resources, Occidental, Lipow Oil Associates, Resources, Mewbourne, Continental, Publicly, Civitas, Coterra, Vital Energy, Devon Energy, Marathon Oil, Bloomberg News, Marathon, Reuters, CFRA, ConocoPhillips, Mizuho Locations: U.S, Texas, New Mexico, Guyana, Devon, Bakken, North Dakota, Occidental, Mizuho Americas, Marathon

CNN —The home of a Canadian Sikh activist in Brampton, Ontario, was hit by gunfire on Monday, months after the assassination of another activist sent India-Canada relations into a spiral. “It appears that only one bullet hole was found but that is subject to change,” Peel Regional Police wrote in a statement. The bullet hole in Gosal's home in Brampton, Ontario. The Canadian citizen was gunned down by masked men last June outside a Sikh temple in British Colombia. Weeks later, the United States accused an Indian government official of being involved in a conspiracy to kill another Sikh separatist, American citizen Gurpatwant Singh Pannun, on US soil.

Persons: Inderjit Singh, Gosal, Singh, Justin Trudeau, Hardeep Singh Nijjar, Weeks, Gurpatwant Singh, Pannun, Nikhil Gupta, Gupta, Nijjar, “ Organizations: CNN, Justice, Peel Regional Police, Indian Consulate Toronto, Canadian, Indian, Global Affairs Canada Locations: Brampton , Ontario, India, Canada, India’s Punjab, British Colombia, United States, Ontario, Punjab

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