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TOKYO, April 28 (Reuters) - Oil prices gained about 2% on Friday after U.S. data showed crude output was declining while fuel demand was growing. Brent crude futures rose $1.16, or 1.5%, to $79.53 a barrel by 12:24 p.m. EDT (1624 GMT), while West Texas Intermediate (WTI) crude rose $1.99, or 2.7%, to $76.75. "But, today there were headlines showing there may be a solution to First Republic's problems and data pointing to a rise in oil demand and a decline in output," Flynn said. In the same report, the EIA said U.S. product supplied of crude and petroleum products - a proxy for oil demand - rose to nearly 20 million bpd and finished motor gasoline rose to 8.7 million bpd in February, the highest for both since November 2022. Oil companies like Exxon Mobil Corp(XOM.N), meanwhile, are riding a wave of strong demand and have held the line on cost-cutting implemented when fuel demand collapsed during COVID-19 lockdowns.

☆ A fake AI-generated Travis Scott album was taken off YouTube as the fight against AI music continues
▼ + stars: | 2023-04-27 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

AI Hub is a Discord server housing over 36,000 members making AI music. Members from the group created "UTOP-AI," an AI album featuring the voices of Travis Scott and other artists. "I ain't talking Uber, come take a trip into my mind," croons Travis Scott on a song called "Winter Snow." Warner Music Group and representatives for Travis Scott did not immediately respond to Insider's requests for comment. The alarm bells sounding off in response to AI music have already been rung by the power players in the industry.

☆ Insiders say Tucker Carlson overplayed his hand at Fox but the 'whole universe' of right-wing media is courting him now
▼ + stars: | 2023-04-25 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +8 min

the Fox insider said. Lachlan Murdoch had defended Carlson time and again, most publicly in April 2021, pushing back against Anti-Defamation League complaints of the anchor's "great replacement theory" comments. Lachlan Murdoch and Rupert Murdoch. A second Fox News insider, who is familiar with conversations happening in Australia, said Lachlan Murdoch was looking long term. The board has also put pressure on the Murdoch family to change things at Fox News.

☆ Western Alliance is de-risking on the credit side to help earnings, says Janney's Chris Marinac
▼ + stars: | 2023-04-19 | 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 EmailWestern Alliance is de-risking on the credit side to help earnings, says Janney's Chris MarinacChristopher Marinac, Janney Montgomery Scott director of research, joins 'The Exchange' to discuss Western Alliance deposit numbers stabilizing, recovery in the bank sector, and the health of regional banking.

☆ Tim Scott is the most intriguing GOP presidential hopeful most Republicans haven't heard of
▼ + stars: | 2023-04-12 | by ( Brent D. Griffiths | Warren Rojas | ) www.businessinsider.com time to read: +8 min

South Carolina Sen. Tim Scott is far from well-known by Republican voters. But if he runs for president, Scott would be well positioned to break out if either Trump or DeSantis falter. "I hope he is considering jumping into the race," Iowa Sen. Joni Ernst recently told Insider while on her way back to her Senate office. But more than just his colleagues, Republican voters may also be just as effusive. It's difficult to find polling on Scott's national favorability, but a recent Monmouth University poll of self-identified Republican voters showed significant promise.

☆ Tim Scott, prominent Black conservative, is one step closer to joining other Republicans in challenging Trump for the 2024 nomination
▼ + stars: | 2023-04-12 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +6 min

"Our country is once again being tested," Scott, the only Black Republican in the Senate, said in a 3-minute video announcement. Once he does so, he'll be the fourth Republican to enter the Republican primary contest against former President Donald Trump. Nikki Haley of South Carolina announced that she was appointing then-Rep. Tim Scott to the Senate on December 17, 2012. Haley and Scott could potentially be competitors to win the 2024 GOP presidential nomination. Haley, who was South Carolina governor at the time, appointed Scott to the seat in 2013 after then-Sen. Jim DeMint resigned.

☆ Capital Group expands ETF lineup, including two new international funds
▼ + stars: | 2023-04-11 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

Multi-trillion dollar asset manager Capital Group is expanding its ETF lineup after some of its first funds gained traction last year. The Los Angeles-based firm on Tuesday filed for three new active ETFs — International Equity ETF (CGIE), World Dividend Growers ETF (CGDG) and Core Balanced ETF (CGBL) — under the Capital Group banner. The new funds come a little more than a year after Capital Group — founded in the Depression and known for its American Funds — first dipped its toe into the ETF world. Our new ETF — CGIE — is more of a developed-market focused ETF," Davis said. Meanwhile, the new global dividend fund is in part a response to the success of the U.S.-focused Capital Group Dividend Value ETF (CGDV) , Davis said.

☆ This is one of the best industrial up cycles in a generation, says Melius' Scott Davis
▼ + stars: | 2023-04-10 | 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 EmailThis is one of the best industrial up cycles in a generation, says Melius' Scott DavisScott Davis, Melius Research chairman, joins 'Closing Bell: Overtime' to discuss the strength in industrials.

☆ SF police chief says there's 'evidence that we found that I can't talk about' in Bob Lee death investigation
▼ + stars: | 2023-04-07 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

The SFPD chief said Thursday there are "good developments" in the investigation, per ABC's KGO-TV. But the city's District Attorney said "this is one that's going to take time to solve," per the report. Representatives for the San Francisco police department and the city's department of emergency management did not respond to Insider's requests for comment on Friday. The San Francisco police previously said in a statement that they responded to a call regarding the attack early morning on Tuesday at 2:35 a.m. The District Attorney's office can't make a determination on bringing charges until police have concluded their investigation and made an arrest, a representative for the DA's office previously told Insider.

Dustin Johnson now. Dustin Johnson of 4Aces GC cleans his golf club on the driving range during the second round of LIV Golf Orlando. Mike Stobe/LIV Golf via AP

Big gas producers including Chesapeake Energy Corp (CHK.O) and Comstock Resources Inc (CRK.N) are reducing their drilling. "About a third of U.S. gas production is associated gas - produced from oil wells," said Jacques Rousseau, a managing director at research firm ClearView Energy Partners LLC. Gas from the Permian also has climbed to record highs every month this year. PRODUCTION REMAINS STICKYU.S. gas production remains on track to hit 100.67 billion cubic feet per day (bcfd) this year, up from last year's record 98.09 bcfd, according to the U.S. government. Despite low gas prices, U.S. drillers have 160 rigs seeking gas up 16% from a year ago, according to data from Baker Hughes Co (BKR.O).

☆ Chinese spy balloon rhetoric is getting 'overheated,' says Brookings' Michael O'Hanlon
▼ + stars: | 2023-04-03 | 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 EmailChinese spy balloon rhetoric is getting 'overheated,' says Brookings' Michael O'HanlonMichael O'Hanlon of Brookings Institution and Dennis Unkovic of Meyer, Unkovic and Scott discuss new details in the flyover of a Chinese balloon, which collected data at sensitive U.S. sites.

☆ Stocks finished the quarter surprisingly strong. What’s next?
▼ + stars: | 2023-04-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

The tech-heavy Nasdaq made a remarkable resurgence, soaring nearly 17% in its best quarterly gain since the fourth quarter of 2020. The labor market has remained red hot, despite the Fed’s aggressive tightening campaign. The number of job openings fell in January , signaling a slight cooling but still hot labor market. The March jobs report. Friday: March jobs report and February consumer credit.

☆ How 3 years of work from home have changed the US economy forever
▼ + stars: | 2023-04-02 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

From the labor market to business establishments, remote work has had many impacts on the economy. This likely will continue to be true, as experts told Insider remote work is here to stay. "And because the world of work has changed, it has implications for the US economy." "Remote work has been a huge and permanent change to how people work and live," Ozimek told Insider. Here are some of the ways remote work has changed workers and the economy.

March 31 (Reuters) - U.S. energy firms this week cut the number of oil and natural gas rigs, with the quarterly count dropping for the first time since 2020, energy services firm Baker Hughes Co (BKR.O) said in its closely followed report on Friday. U.S. oil rigs fell one to 592 this week, while gas rigs decreased two to 160. For the month, the total oil and gas rig count rose two rigs, the first monthly increase since November. For the quarter, the total oil and gas rig count fell by 24 rigs, the first quarterly decline since the third quarter of 2020. The drop in gas prices has already caused some exploration and production companies, including Chesapeake Energy Corp (CHK.O), Southwestern Energy Co (SWN.N) and Comstock Resources Inc (CRK.N), to announce plans to reduce production by cutting some gas rigs.

☆ Stocks bounced back this quarter, but it’s too early to celebrate
▼ + stars: | 2023-03-31 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

The broad-based S&P 500 seesawed throughout the quarter, ending January on a high note before tumbling in February, rising again in March and ultimately ending the quarter up about 7%. The tech-heavy Nasdaq made a remarkable resurgence, soaring nearly 17% in its best quarterly gain since the fourth quarter of 2020. That comes after a tough 2022 for tech stocks, as investors sought out less risky avenues to ride out turbulence from the Fed’s interest rate hike campaign. Bond prices rose as investors wagered that the Federal Reserve won’t raise rates as high as previously expected due to the banking crisis. Wall Street largely shrugged it all off, however, with stocks recouping their losses — and then some — as investors started snapping up tech stocks, boosting the broader equity market.

☆ Stocks bounced back in the first quarter, but it’s too early to celebrate
▼ + stars: | 2023-03-31 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

☆ Maryland announces goals for massive offshore wind power increase
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

March 29 (Reuters) - Maryland Governor Wes Moore on Wednesday announced goals to more than quadruple the state's offshore wind capacity to 8.5 gigawatts - enough to power nearly three million homes - as part of an effort by the state to achieve 100% clean energy by 2035. Moore is working "to establish new lease areas and strengthen the offshore wind supply chain," as well as establish grants to support the effort, the governor's office said in a statement. Although energy firms have proposed building offshore wind projects in the United States for more than two decades, there are only about 41 megawatts (MW) of total offshore wind capacity, located off the Rhode Island and Virginia coasts. For comparison, the United States has about 1.146 million megawatts of total generation, according to federal energy data. A timeline for Maryland's newly proposed wind power capacity was not immediately clear.

U.S. West Texas Intermediate (WTI) crude rose 64 cents, or 0.9%, to $70.31. The U.S. dollar fell to its lowest level since Feb. 3 against a basket of other currencies, supporting oil demand by making crude cheaper for buyers using other currencies. "The big story here is that build ... in crude, which is enough to get us to the 22-month high in crude oil storage. We just have a lot of crude oil in storage and it's not going to go away anytime soon," said Bob Yawger at Mizuho, a bank. An emergency rescue of Credit Suisse Group AG (CSGN.S) over the weekend helped revive oil prices.

☆ Fox, Dominion urge judge to rule in $1.6 billion defamation suit ahead of April trial
▼ + stars: | 2023-03-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

However, Fox and Dominion didn't close up their arguments on Tuesday and will meet in court Wednesday morning. (Trump's false claims of election fraud are at the center of multiple criminal probes.) Chairman Rupert Murdoch said some anchors parroted false fraud claims in the months following the election. Fox has consistently denied the claims it knowingly made false claims, and has argued it is protected by the First Amendment. These cases are often settled out of court or quickly dismissed by a court judge, but neither said has had such discussions, CNBC previously reported.

☆ Republican US senator doubles down on call for tighter Fed scrutiny
▼ + stars: | 2023-03-21 | by ( David Morgan | ) www.reuters.com time to read: +3 min

"The Federal Reserve, the world's largest and most powerful central bank, does not have a truly independent IG to investigate it. I'm fighting to fix that and will be introducing a bill soon - that I believe will have bipartisan support," Scott wrote. The online column marked the second time in two days that Scott has vowed to push for an independent Fed IG. He also informed Federal Reserve Chairman Jerome Powell of his plans in a letter on Monday. Republicans and Democrats in Congress have pledged tighter oversight of banking regulators following the collapse of Silicon Valley Bank and Signature Bank, which has been followed by billions of dollars in losses for financial stocks.

☆ Nike's aggressive use of noncompetes is stifling hiring at rivals and startups sneaker brands, insiders say
▼ + stars: | 2023-03-18 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

President Biden and the FTC want to get rid of noncompete agreements. Some former Nike workers remain subject to them. The same could be said of sportswear workers in Portland, Oregon. The same day Biden spoke to the nation, at least three former Nike workers were waiting for their noncompete agreements to end, according to a search of LinkedIn profiles. In sportswear, noncompetes have historically been used to guard industry secrets, which brands fight to protect.

The Food and Drug Administration made its assessment in briefing documents ahead of a meeting of the agency's external advisers on Thursday to discuss full approval to use Pfizer's oral pill for high-risk COVID-19 patients exhibiting mild to moderate symptoms. Paxlovid has been authorized for emergency use since late 2021, and a full approval is likely to allow Pfizer to expand its advertising campaign for the drug. Over 12 million courses have been delivered to pharmacies, and patients have used over 8 million courses of the treatment, according to Federal data. Paxlovid has shown reduction in risk of hospitalization or death by 86% in non-hospitalized, high-risk adult patients in Pfizer' study, which did not include vaccinated participants. Reporting by Leroy Leo and Khushi Mandowara in Bengaluru; Editing by Shailesh Kuber and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Lowe's is testing 400-pound, egg-shaped autonomous robots to patrol parking lots at some of its stores
▼ + stars: | 2023-03-13 | by ( Ben Tobin | ) www.businessinsider.com time to read: +4 min

Lowe's is testing robots from Knightscope to help deter crime and promote safety at its stores. Lowe's is testing autonomous, 400-pound security robots from robotics company Knightscope to patrol parking lots at some of its stores to enhance safety, the company told Insider Monday. Lowe's said it began testing the Knightscope K5 robots in February in Philadelphia. Several TikTok users have posted videos of the robots patrolling the Lowe's parking lots, likening them to the popular Dalek villains from "Dr. Lowe's decision to test these autonomous robots comes as retailers have been sounding the alarms about rising levels of theft.

☆ Regional bank weakness is a 'solvable problem,' says Janney's Christopher Marinac
▼ + stars: | 2023-03-13 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegional bank weakness is a 'solvable problem,' says Janney's Christopher MarinacChristopher Marinac, Janney Montgomery Scott director of research, on what to do about regional banks after the collapse of SVB. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Bonawyn Eison, Karen Finerman and Steve Grasso.

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