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☆ Oil gains for 3rd day on Kurdish supply concern, easing banking fears
▼ + stars: | 2023-03-29 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

Crude exports of 450,000 barrels per day (bpd) from Iraq's semi-autonomous northern Kurdistan region were halted on Saturday following an arbitration decision that confirmed Baghdad's consent was needed to ship the oil. "The longer the stoppage continues, the tighter the supply outlook will become," said Stephen Brennock of oil broker PVM. On Wednesday, Norwegian oil firm DNO said it had begun shutting down production at its fields in Kurdistan. We can see that risk sentiment has recovered to some extent, which pushed (the) global stock markets and crude oil rebound," said CMC Markets analyst Leon Li. Attention will focus on official U.S. inventory data from the Energy Information Administration at 1430 GMT to see if it confirms the crude stock decline.

Regulators shuttered Silicon Valley Bank (SVB) and Signature Bank, the second and third largest closures in the nation's history. Authorities then took unprecedented action to backstop the collapsed companies' deposits and introduced new measures to shore up confidence. The ups and downs may have helped banks' trading desks as choppy markets fueled client activity. While billions of dollars of those deposits landed at the biggest banks, some analysts said the influx was unlikely to provide a major boost to their earnings. Investors are becoming increasingly focused on the rising cost of funding for banks, which could weigh on earnings, analysts at Piper Sandler wrote in a note last week.

☆ Morgan Stanley's Byrd: The most concerning companies and characteristics in the clean energy space
▼ + stars: | 2023-03-24 | 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 EmailMorgan Stanley's Byrd: The most concerning companies and characteristics in the clean energy spaceStephen Byrd, Morgan Stanley equity analyst, joins 'The Exchange' to discuss where investors should look in the energy space, where financial conditions look more favorable and more.

☆ New Starbucks CEO plans to pull barista shifts in stores every month
▼ + stars: | 2023-03-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Starbucks’ new CEO Laxman Narasimhan teased his plan for the company in a letter to employees. It includes working in Starbucks stores as a barista once a month. “Critically, we will reinvigorate our culture around what it means to be a partner at Starbucks,” Narasimhan continued. Starbucks employees react and cheer at the sound of honking motorists supporting them in a nationwide strike at the Starbucks at 1601 W. Irving Park Road on Dec. 16, 2022, in Chicago. Schultz, who remains on Starbuck’s board, is scheduled to testify about Starbucks’ labor practices during a Senate hearing next week.

☆ Oil rises as banking fears ease for now
▼ + stars: | 2023-03-21 | by ( ) www.cnbc.com time to read: +2 min

Oil rose on Tuesday, extending a recovery from a 15-month low hit the previous day, as the rescue of Credit Suisse eased worries about global banking sector risks that could hit economic growth and fuel demand. "Banking jitters may have taken a breather yesterday but remain in play," said Stephen Brennock of oil broker PVM. A meeting of key ministers from OPEC+, which includes OPEC members plus Russia and other allies, is scheduled for April 3. OPEC+ sources told Reuters the drop in prices reflects banking fears, rather than a worsening supply and demand balance. Also coming into view is the latest U.S. oil inventory reports, which a Reuters survey expects to show lower crude and product inventories.

☆ Two top bank analysts say the backstopping that's going on at the federal level will help stem the tide of recent losses in the sector
▼ + stars: | 2023-03-20 | 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 EmailTwo top bank analysts say the backstopping that's going on at the federal level will help stem the tide of recent losses in the sectorStephen Biggar of Argus Research and Stephen Scouten of Piper Sandler discuss the health of the bank sector -- large-cap, regional and mid-size lenders -- amid the ongoing turmoil in the wake of the collapse of SVB and Signature Bank, pressure on First Republic and UBS' takeover of Credit Suisse.

☆ Starbucks’ new CEO steps in two weeks early
▼ + stars: | 2023-03-20 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

New York CNN —Starbucks’ new CEO Laxman Narasimhan has taken over the reins from interim CEO Howard Schultz, about two weeks sooner than planned. In addition to taking over as CEO, Narasimhan joined the board Monday. Incoming CEO Laxman Narasimhan speaks from the stage during Starbucks Investor Day, Tuesday, Sept. 13, 2022, in Seattle. He remains on the Starbucks board. During his time as interim CEO, Schultz laid out a “reinvention” plan that would update stores and, he said, improve conditions for workers.

☆ Meet Laxman Narasimhan, a coffee industry outsider who just took over as CEO of Starbucks
▼ + stars: | 2023-03-20 | by ( Avery Hartmans | Nancy Luna | ) www.businessinsider.com time to read: +6 min

Laxman Narasimhan officially took over as Starbucks CEO, replacing Howard Schultz. Narasimhan is new to the coffee industry, having started his career in the consulting world before joining PepsiCo, and, later, British consumer goods company Reckitt Benckiser. Narasimhan built his career in the beverage and consumer-goods industriesLaxman Narasimhan at Starbucks Investor Day in September 2022. Starbucks said at the time that Narasimhan would begin as CEO on April 1, taking over for interim CEO Schultz. Of the 365 Starbucks stores that have held votes to unionize, 292 have voted to form a union.

☆ Collapse of U.S. banks: There's a catharsis happening in bank deposits, says research firm
▼ + stars: | 2023-03-20 | 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 EmailCollapse of U.S. banks: There's a catharsis happening in bank deposits, says research firmStephen Biggar of Argus Research discusses the collapse of banks like Silicon Valley Bank and Signature Bank, and says "it seems like the contagion … is now a bit contained."

☆ Climate change is making plane turbulence worse, and it could make flights bumpier and more expensive
▼ + stars: | 2023-03-11 | by ( Crystal Raypole | Jessica Orwig | ) www.businessinsider.com time to read: +8 min

Experts believe severe turbulence may increase in years to come as patterns of severe weather continue around the globe. But pilots also have to contend with clear-air turbulence, which is turbulence that has no visible cause. Weather researchers further predict clear-air turbulence will double by 2050, with severe turbulence increasing the most. "The highest altitude flights over the North Atlantic will encounter the most significant increase in severe turbulence," Bennett said. Only 1% of the atmosphere has moderately severe turbulence, and a few tenths of a percent have severe turbulence," she said.

☆ Morgan Stanley highlights four stocks that are rising stars in the world of ESG investing
▼ + stars: | 2023-03-10 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Morgan Stanley's list of the biggest rising stars in the socially conscious investing space includes four U.S. stocks. But the stock hugely outperformed last year, rising 25% while the S & P 500 dropped 19.4%. DE 5Y mountain Deere & Co. Another name listed by Morgan Stanley is Eastman Chemical . Management estimates that the Kingsport plant will have a 15% rate of return for the company, while the other plants will likely be closer to 12%, Morgan Stanley said. EMN NFE 1Y mountain Eastman Chemical Nu Holdings , a Brazilian digital banking company that trades on the New York Stock Exchange, also made Morgan Stanley's list.

Congressman Stephen Buyer was convicted by a New York jury on Friday of trading on inside information he learned in 2018 as a consultant to T-Mobile US Inc (TMUS.O) ahead of its $23 billion merger with Sprint. Prosecutors said at a trial that began on March 1 that Buyer bought Sprint stock after learning from a T-Mobile executive that the telecommunications companies were in merger talks in 2018 and engaged in another insider trading scheme in 2019. Buyer took the stand at trial and denied trading on inside information. Buyer made more than $100,000 from the Sprint trades and more than $200,000 on stock in Navigant Consulting Inc, which he purchased before Guidehouse acquired the company in 2019, according to prosecutors. Reporting by Jody Godoy in New York; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Ron Klain credits Rep. Jim Clyburn for pushing Biden to put the first Black woman on the Supreme Court
▼ + stars: | 2023-03-09 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Ron Klain gave credit to Rep. Jim Clyburn for the appointment of Ketanji Brown Jackson to the Supreme Court. Clyburn urged Biden in 2020 to promise voters he would put the first Black woman justice on the court. That promise was important to Clyburn, whose endorsement played a big role in Biden becoming president. But he defended Jackson during confirmation battles, urged "strong bipartisan support" for her, and said she "will make an extraordinary Supreme Court Justice" when she was sworn in. She was a finalist when President Barack Obama selected now-Attorney General Merrick Garland for a Supreme Court nomination, he said.

☆ TSX inches higher as Bank of Canada keeps interest rates on hold
▼ + stars: | 2023-03-08 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies TC Energy falls after U.S. regulator seeks corrective actionsTSX rises 0.5%March 8 (Reuters) - Canada's main stock index edged higher on Wednesday, helped by gains in commodity-linked stocks and the banking sector after the Bank of Canada (BoC) kept interest rates on hold as expected. ET (1515 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 99.07 points, or 0.49%, at 20,374.61. The energy sector (.SPTTEN) gained 1.1%, while materials (.GSPTTMT) rose 1.5%. Miners, energy firms and financial stocks comprise nearly 60% of the TSX index. Among stocks, TC Energy (TRP.TO) fell 0.2% as the U.S. pipeline regulator said the oil services provider would be required to reduce operating pressure on its Keystone pipeline that spilled oil in rural Kansas in December.

☆ A reality TV star who posted an explicit video of him and his ex-girlfriend on OnlyFans without her permission was jailed for almost 2 years
▼ + stars: | 2023-03-04 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

OnlyFans and reality TV star Stephen Bear was sentenced to 21 months in prison for "revenge porn." The "Ex on the Beach" contestant shared an explicit video of his ex-girlfriend without her consent. The video was filmed on CCTV at his home without her knowledge and was later posted on OnlyFans. The platform deactivated his account the day after Harrison reported the video, per The Sun. Users can report if explicit content of them has been shared online and ask the center to remove it.

☆ Bank of Canada to hold rates steady at 4.50% through this year
▼ + stars: | 2023-03-03 | by ( Milounee Purohit | ) www.reuters.com time to read: +3 min

All 32 economists polled Feb. 24 to March 3 expect the BoC to hold its overnight rate at 4.50% on March 8. A majority forecast the BoC to keep it there for the rest of 2023, despite several more rate hikes expected from the U.S. Federal Reserve. In the meantime, Canada inflation data are headed in the right direction. "Well, the interesting thing could be in the tone of the statement," said Brown, who expects a hawkish tone. "The Federal Reserve's continued rate hikes will eventually make their way into Canadian inflation through exchange rates...so that will certainly push the Bank of Canada to do more," said Shelly Kaushik, an economist at BMO Capital Markets.

☆ SpaceX capsule delivers latest four-member crew to International Space Station
▼ + stars: | 2023-03-03 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

March 3 (Reuters) - A SpaceX Crew Dragon capsule arrived safely at the International Space Station (ISS) after a brief delay early on Friday, carrying two U.S. astronauts, a Russian cosmonaut and a United Arab Emirates astronaut on a six-month science mission. The autonomously flying spacecraft dubbed Endeavour docked with the space station shortly after 1:40 a.m. EST (0640 GMT) on Friday, about 25 hours after launching from NASA's Kennedy Space Center in Cape Canaveral, Florida. Docking maneuvers fell behind schedule as the Crew Dragon was making its final approach to the station. The ISS crew also is responsible for performing maintenance and repairs aboard the station, and to prepare for the arrival and departure of other astronauts and cargo payloads. Rounding out the four-man Crew 6 was Russian cosmonaut Andrey Fedyaev, 42, who like Alneyadi is an engineer and spaceflight rookie.

LONDON, March 3 (Reuters) - Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal debate about leaving the Organization of the Petroleum Exporting Countries and pumping more oil. Oil prices this week had been boosted by strong Chinese economic data, underpinning hopes for oil demand growth, but those gains were all but erased on Friday. China's seaborne imports of Russian oil are set to hit a record high this month. "Those betting on higher oil prices are basking in the afterglow of the positive macro data out of China," said PVM analyst Stephen Brennock. Russia's plan to deepen oil export cuts in March also helped to buoy prices.

☆ M&G would be a tricky hop for kangaroo raider
▼ + stars: | 2023-03-02 | by ( Neil Unmack | ) www.reuters.com time to read: +3 min

LONDON, March 2 (Reuters Breakingviews) - M&G (MNG.L) would be a tricky hop for Macquarie (MQG.AX). The $48 billion Australian financial powerhouse may bid for the $6 billion UK insurer. The appeal is likely to be in the fund management group. Macquarie’s own asset management arm accounted for over 30% of net profit in the first half of its current financial year. Follow @Unmack1 on TwitterCONTEXT NEWSAustralian banking group Macquarie is considering a bid for UK insurance and asset management group M&G, Sky News reported on March 1.

[1/5] NASA's SpaceX Crew-6 mission, that includes NASA astronauts Stephen Bowen and Woody Hoburg, the United Arab Emirates Sultan Al-Neyadi and Russian cosmonaut Andrey Fedyaev, launches to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 2, 2023. The SpaceX launch vehicle, consisting of a Falcon 9 rocket topped with an autonomously operated Crew Dragon capsule called Endeavour, lifted off at 12:34 a.m. EST (0534 GMT) from NASA's Kennedy Space Center in Cape Canaveral, Florida. Fellow NASA astronaut Warren "Woody" Hoburg, 37, an engineer and commercial aviator designated as the Crew 6 pilot, was making his first spaceflight. The Crew 6 team will be welcomed aboard the space station by seven current ISS occupants - three U.S. NASA crew members, including commander Nicole Aunapu Mann, the first Native American woman to fly to space, along with three Russians and a Japanese astronaut. An empty replacement Soyuz to bring them home arrived at the space station on Saturday.

☆ SpaceX launches Crew-6 mission for NASA, sending four more astronauts to the space station
▼ + stars: | 2023-03-02 | by ( Michael Sheetz | ) www.cnbc.com time to read: 1 min

SpaceX launched four people to the International Space Station from Florida as Elon Musk's company begins the final of the original six missions awarded by NASA. Known as Crew-6, the mission for NASA will bring the group up to the space station for a six-month stay in orbit. The mission is SpaceX's sixth operational crew launch for NASA to date, and the company's ninth human spaceflight to date. "If you enjoyed your ride, please don't forget to give us five stars," SpaceX mission control called out after the capsule reached orbit. Crew-6 launched a little after midnight on Thursday morning, beginning a just over 24-hour journey to the ISS.

Companies Google Inc FollowAlphabet Inc FollowMarch 2 (Reuters) - Consumers suing Alphabet Inc's (GOOGL.O) Google LLC over its data collection practices have lost their early appeal to pursue money damages as a class action seeking billions of dollars. Plaintiffs sued Google in 2020, claiming that Google continued to collect data from users despite their use of private-browsing in Chrome's "Incognito" mode. Circuit Court of Appeals in San Francisco on Wednesday rejected the plaintiffs' bid to appeal a lower court decision last year that denied class action status for money damages claims against Google. The damages class would include at least "tens of millions" of Google browser users, court filings indicate. Google has denied that it deceived anyone over private-browsing, saying its Chrome browser users consented to the company's data collection.

☆ YouTube child data gathering faces UK scrutiny after complaint
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 1 (Reuters) - Britain's information regulator said on Wednesday it would look into an official complaint accusing Alphabet Inc's (GOOGL.O) YouTube of illegally collecting data from millions of children. McCann said in a statement that YouTube should change the design of its platform and delete data it had been gathering. A spokesperson for YouTube said it had taken steps to bolster child privacy with more protective default settings, and made investments to protect children and families by launching a dedicated kids app and introducing new data practices. "We remain committed to continuing our engagement with the ICO on this priority work, and with other key stakeholders including children, parents and child protection experts," the YouTube spokesperson said in a statement. Britain's Children's code requires providers to meet 15 design and privacy standards to protect children, including limiting collection of their location and other personal data.

[1/2] A Falcon 9 rocket is readied for another launch attempt for NASA's SpaceX Crew-6 mission after a technical delay, which will take four crew members to the International Space Station, from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 1, 2023. The SpaceX launch vehicle, consisting of a Falcon 9 rocket topped with an autonomously operated Crew Dragon capsule called Endeavour, was set for liftoff at 12:34 a.m. EST (0534 GMT) from NASA's Kennedy Space Center in Cape Canaveral, Florida. The four-man crew should reach the International Space Station (ISS), orbiting some 250 miles (420 km) above Earth, about 25 hours after launch, early on Friday morning. Crew 6 also is notable for its inclusion of UAE astronaut Sultan Alneyadi, 41, only the second person from his country to fly to space and the first to launch from U.S. soil as part of a long-duration space station team. The Crew 6 team will be welcomed aboard the space station by seven current ISS occupants - three U.S. NASA crew members, including commander Nicole Aunapu Mann, the first Native American woman to fly to space, along with three Russians and a Japanese astronaut.

☆ Oil settled up as rising supplies face Chinese demand hopes
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: +3 min

Permian Basin rigs in 2020, when U.S. crude oil production dropped by 3 million a day as Wall Street pressure forced cuts. Oil prices settled up slightly on Wednesday as signs of ample supply, including growing U.S. crude inventories, offset growing hopes for higher demand after a jump in manufacturing in top crude importer China. Brent crude futures settled up 86 cents, or 1%, to $84.31 a barrel. In other signs of ample supply, Russia's oil production reached the pre-sanctions level for the first time in February, the Kommersant business daily reported. An official index showed China's manufacturing activity expanded in February at the fastest pace in more than a decade, feeding hopes for a boost in oil demand.

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