DIRS.INFO The most relevant business & tech news

☆ Why India is so important to Apple
▼ + stars: | 2023-04-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

Cook said in February that Apple had its best sales quarter ever for iPhones in India in the quarter ending in December. Most phones sold in India are priced below even the least-expensive new Apple iPhone. India could end up being a big winner as Apple looks for non-Chinese manufacturing options. Tim Cook, Apple's Chief Executive Officer (CEO) reacts as a man shows him Apple's Macintosh outside the Apple store at Jio World Drive mall, Mumbai, India on April 18, 2023. Apple was bullish on India back then, too: "India will be the most populous country in the world in 2022," Cook told CNBC's Jim Cramer at the time, saying it had "huge market potential."

☆ TSX futures gain on oil boost; big US banks jump
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - Futures for Canada's commodity-heavy stock index edged up on Friday, tracking a rise in crude prices, while upbeat earnings from big U.S. banks supported optimistic investor mood. June futures on the S&P/TSX index were up 0.2% at 7:00 a.m. Wall Street futures slipped as most growth and technology stocks were down in premarket trading, while robust earnings from big U.S. banks, including JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N), limited losses for futures tracking S&P 500 (.SPX). The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) rose on Thursday to its highest closing level in nearly six weeks, buoyed by strength in gold miners. In company news, Scotiabank downgraded oil and gas company Cenovus Energy Inc (CVE.TO) to "sector perform" from "sector outperform."

☆ How green mortgages can help finance an energy-efficient home and save money
▼ + stars: | 2023-04-08 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +3 min

For many potential homebuyers, a green mortgage could be a good idea, especially as incentives for energy-efficiency upgrades increase and costs of new climate technology are coming down. A green mortgage — also known as an energy-efficient mortgage — is different than a conventional mortgage in that it allows borrowers to finance certain green improvements at the same rate and terms as their home purchase. How energy upgrades are rolled into a housing loanIf the home you're considering needs various energy-efficient upgrades, as many houses do, it pays to see what a green mortgage can offer. With an energy-efficient mortgage, homebuyers can finance these types of improvements on better terms. The Inflation Reduction Act and home improvementsThe Inflation Reduction Act — an expansive climate-protection effort by the federal government — makes green improvements even more advantageous for would-be homebuyers.

BUENOS AIRES, April 7 (Reuters) - Argentina's state oil company YPF has agreed to pay nearly $300 million to the creditors of one of its now-bankrupt subsidiaries after they sued the company in relation to a historical U.S. environmental case, it said. In 2016, Maxus Energy Corporation filed for chapter 11 protection in the U.S. Bankruptcy Court in Delaware. YPF said its former subsidiary had met its obligations until then, without specifying if these were financial or environmental. Under the conciliation agreement reached this week, the Maxus Liquidation Trust agreed to drop the claims it had filed against both YPF and co-defendant Spanish oil company Repsol, the statement issued by YPF said. In turn, YPF and Repsol agreed to pay the trust $287.5 million each, without admitting any responsibility.

☆ US energy stocks join European peers' rally after surprise oil output cut
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

April 3 (Reuters) - U.S. energy stocks hit an over one-month high on Monday, following a rally in European peers as crude prices rose more than 6% following a surprise announcement by Saudi Arabia and other OPEC+ oil producers to cut production. The S&P 500 energy index (.SPNY) added 4.2%, eying its best day in six months, while the benchmark S&P 500 (.SPX) traded flat. So any amount of oil price incrementally higher from here is very good for margins and it's very good for these stocks." Other oil producers Occidental Petroleum (OXY.N), ConocoPhillips (COP.N), Devon Energy (DVN.N), Marathon Oil (MRO.N) and APA Corp (APA.O) gained between 6.3% and 9.5%. Alastair Syme, head of energy research at Citi, said investors had recently been reducing the weight of energy stocks in their portfolios, and that any move to re-weight would likely benefit most of the largest cap stocks.

☆ A Psychedelics Pioneer Takes the Ultimate Trip
▼ + stars: | 2023-04-03 | by ( David Marchese | ) www.nytimes.com time to read: +15 min

Mamadi Doumbouya for The New York Times Talk A Psychedelics Pioneer Takes the Ultimate TripAs the founding director of the Johns Hopkins Center for Psychedelic and Consciousness Research, Dr. Roland Griffiths has been a pioneer in investigating the ways in which psychedelics can help treat depression, addiction and, in patients with a life-threatening cancer diagnosis, psychological distress. He has also looked at how the use of psychedelics can produce transformative and long-lasting feelings of human interconnectedness and unity. “So I believe that in principle we shouldn’t need this Stage 4 cancer diagnosis to awaken. Is your perspective maybe one that a 40-year-old, say, with a terminal cancer diagnosis would be able to inhabit so profoundly? If I had a regret, it’s that I didn’t wake up as much as I have without a cancer diagnosis.

☆ Puerto Rico solar switch a life and death matter -US energy chief
▼ + stars: | 2023-03-31 | by ( Timothy Gardner | ) www.reuters.com time to read: +5 min

[1/4] Cars drive under a downed power pole in the aftermath of Hurricane Fiona in Santa Isabel, Puerto Rico September 21, 2022. Puerto Rico has not typically been a large focus of U.S. energy chiefs. Colon covets the solar power Granholm offered, as it could also lower electricity bills, typically twice those on the mainland. Granholm said some 400,000 homes need rooftop solar but the $1 billion is only enough for up to 50,000 homes. Puerto Rico only generates about 3% of its electricity from renewables and the rest from fossil fuels.

☆ Energy firms lose UK legal challenge over sale of collapsed rival Bulb
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A British Gas sign is seen outside its offices in Staines in southern England, July 31, 2014. REUTERS/Toby Melville/File PhotoLONDON, March 31 (Reuters) - Centrica's British Gas, Scottish Power and E.ON on Friday lost a court challenge over the British government’s handling of the sale of collapsed energy firm Bulb. The three other energy suppliers had argued the government had unlawfully committed billions of pounds of taxpayers' money to prop up Bulb, without considering the potential impact on the wider energy market. "It's clear that the case was a desperate attempt by those organisations to defend their waning market positions against a more efficient and customer-focused rival," Octopus Energy said in a statement. The addition of Bulb's customers catapulted Octopus to become the country's third largest domestic energy supplier behind British Gas and E.ON.

☆ 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

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

☆ Eve Jobs recommends iPhone 14 after mocking it a few months ago
▼ + stars: | 2023-03-31 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

Apple cofounder Steve Jobs' daughter, Eve, told The Strategist she "can't live without" her iPhone. Jobs shared a meme on her Instagram story in September that poked fun at the iPhone 14. Insider also hasn't confirmed whether Jobs actually uses the iPhone 14. "I'm gonna keep it brief," Jobs told The Strategist about the iPhone 14. She's also a model and accomplished equestrian, who once told World of Showjumping that competing in the Olympics and at the World Equestrian Games "would be a dream."

☆ A key recession indicator suggests the Fed may slash rates soon
▼ + stars: | 2023-03-30 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

There's another bond market signal flashing and it could mean the Fed's about to step in. The Fed raised short-term interest rates by a quarter percentage point as expected today, with market watchers expecting one more increase this year and three more in 2019. But there are other bond market signs, too, and the recent rally in bonds at the shorter-term end of the Treasury curve may just be the indicator with the most troubling track record. In effect, the bond market is telling us that the Fed could be on the brink of making a policy pivot as the economy falters. Investors are shifting focus back to the Fed's thinking on interest rates, with a PCE inflation update due Friday.

☆ Ovo Energy plans takeover of Shell gas and electricity arm
▼ + stars: | 2023-03-29 | by ( ) www.cnbc.com time to read: +1 min

Ovo Energy is planning a takeover of Shell Plc 's UK gas and electricity business, a move that would allow the British retail energy supplier to reclaim the No. Ovo is expected to propose an indicative offer for Shell Energy Retail Ltd's UK operation, the report added, citing sources. Shell Energy Retail has about 1.4 million customers. Retail energy suppliers in Europe have struggled over the past year with soaring wholesale prices forcing governments to shield consumers from rising bills. This would put Ovo ahead of Octopus Energy, currently the UK's second-largest supplier, which has nearly 5 million household customers after its takeover of energy supplier Bulb.

☆ Column: India's coal + renewables mix makes for messy energy transition
▼ + stars: | 2023-03-24 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

While China also added record solar and wind capacity in 2022 to widen its overall renewables lead, India's record build out of solar capacity last year has been widely celebrated by energy transition advocates. But even with such rip-roaring green energy momentum, India's utilities still struggled to keep up with the country's voracious energy demand growth, and had to crank coal use to record highs alongside the breakneck growth in renewables. Only 2.2% of total India's electricity was produced from gas in 2022, according to Ember - the lowest in over 20 years. COAL CONUNDRUMSuch low utilisation of natural gas for power generation forced utilities to burn through coal at a record pace, straining the country's domestic coal supply system and pushing coal imports to historic highs. On paper, such conflicting government stances on power sector priorities may appear to be counterproductive, and may potentially undermine India's energy transition efforts.

☆ It could take years for the US to refill its emergency oil reserves after last year's record sales
▼ + stars: | 2023-03-24 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

It could take years to stock up the US emergency oil reserves after 2022's historic sales, per Reuters. The US energy secretary said maintenance costs at the Strategic Petroleum Reserve and last year's sales make it difficult to refill the stockpile. The US strategic petroleum reserve is kept in huge underground salt caverns at four major facilities in Texas and Louisiana. The spike in price tracked surging oil prices, which shot past $120 a barrel last March. Brent crude oil has lost around 40% from March highs, while WTI crude, the US benchmark price, has dropped around 43%.

March 16 (Reuters) - BP (BP.L) violated U.S. process safety rules and did not train workers properly at its Toledo, Ohio refinery in September, contributing to the death of two workers at the plant last year, U.S. federal investigators said Thursday. The two refinery workers died from their burns following an explosion in September 2022. Investigators said BP Products North America failed to properly train operators to identify the presence of naphtha, a flammable liquid hydrocarbon mixture, during an upset. BP Products North America is a Houston based subsidiary of BP and operated the 150,800 barrel-per-day Toledo, Ohio, refinery at the time of the explosion. BP Products North America has 15 business days to comply, request an informal conference with OSHA’s area director, or contest the findings before the independent Occupational Safety and Health Review Commission.

☆ Congress sends bill to Biden requiring his administration to declassify intelligence on COVID-19's origins
▼ + stars: | 2023-03-10 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +4 min

The House passed a bipartisan bill that would require the Biden administration to declassify information related to COVID-19's origins. The origins of COVID-19 have long been debated and theorized. The House of Representatives unanimously approved the bill, titled the COVID-19 Origin Act of 2023, in a 419-0 vote on Friday. The bill comes after the US Energy Department recently concluded with "low confidence" that the pandemic was likely the result of a lab leak. Indeed, lawmakers could likely override a potential veto with a two-thirds vote in both the House and Senate.

HOUSTON, March 8 (Reuters) - Enormous challenges remain across global energy markets in the wake of the war in Ukraine, U.S. Energy Secretary Jennifer Granholm said on Wednesday, with continued risks for energy security and the need to mitigate climate change. Russia's invasion of Ukraine led to an energy crisis in Europe as the Russian gas the continent depended on stopped flowing and Western sanctions disrupted Russian oil supplies. U.S. industry had responded to the energy crisis in Europe by producing and exporting more energy to become an indispensable energy partner to allies, Granholm said. Granholm called on executives from the fossil fuels and renewable industry to play their part in the energy transition to a low-carbon economy. Oil and gas would remain part of the energy mix for years to come, she said, and abated fossil fuel use would continue in mid-century.

The dinner with shale producers and OPEC officials continued a tradition that began around five years ago when they were fierce competitors. It has been held in most recent years during the CERAWeek energy conference in the U.S. oil industry capital. Among the other topics that came up were strong oil demand and what U.S. shale producers could do to meet it given what shareholders want, he said. The event comes at a tumultuous time for global markets with the war in Ukraine disrupting global oil and gas flows while enriching both producer groups. Fewer OPEC officials are present at this year's annual CERAWeek conference, with ministers from key countries, including Saudi Arabia and Iraq, absent from the attendee list.

March 6 (Reuters) - U.S. energy executives met privately with top OPEC officials on Monday on the sidelines of a Houston conference, people familiar with the matter said, continuing a tradition that began around five years ago when the two groups were fierce competitors. OPEC had viewed shale as an untamed force that undercut its revenue by bringing vast new oil supplies to market. The secretive dinner has been held in most recent years during the CERAWeek energy conference in the capital of the U.S. oil industry. This year's private dinner comes at a tumultuous time for global markets with the war in Ukraine disrupting global oil and gas flows while enriching both producer groups. Fewer OPEC officials are present at this year's annual CERAWeek conference, with ministers from key countries, including Saudi Arabia and Iraq, absent from the attendee list.

The secretive dinner has been held almost annually at the CERAWeek energy conference. This year's event will be the first with Haitham Al Ghais as secretary general for the Organization of the Petroleum Exporting Countries. OPEC had viewed shale as an untamed force that undercut its revenue by bringing vast new oil supplies to market. Fewer OPEC officials are present at this year's annual CERAWeek conferencing, with ministers from key countries including Saudi Arabia and Iraq absent from the attendee list. Reporting by Liz Hampton and Ron Bousso in Houston; additional reporting by Stephanie Kelly Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Chairman of the House panel probing Covid's origins says lawmakers haven't 'seen all that we want to see' but they're following 'the breadcrumbs'
▼ + stars: | 2023-03-05 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +2 min

The US Energy Department reportedly said with low confidence a lab leak likely caused COVID-19. Other agencies have suggested alternative theories caused the virus, including animal transmission. The chair of a House panel investigating Covid's origins said they have more questions than answers. Wrenstrup said it's "important to find the origins of Covid" but the committee is still unclear on the cause, since different agencies have their own theories. "What we are trying to do is to follow the breadcrumbs, if you will," Wrenstrup said.

☆ Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 1 (Reuters) - Dow Inc (DOW.N) and private company X-energy said on Wednesday they have agreed to develop and demonstrate the first grid-scale next-generation nuclear reactor for an industrial site in North America. The X-energy Xe-100 plant featuring four high-temperature, gas-cooled reactors is set to be built at one of Dow's sites on the U.S. Gulf Coast. Backers of next-generation nuclear reactors, including the Biden administration, say the technology is crucial to fight climate change. The X-energy plant will provide a Dow facility with process heat and power to make products. Dow, a chemicals company, makes a wide variety of products including polyethylene used in packaging, paints, and foams.

☆ China spent years angrily trying to shut down the theory that COVID-19 came from its labs. It failed.
▼ + stars: | 2023-03-01 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

China has pushed another theory, suggesting the COVID-19 may have jumped to humans from frozen food shipped from elsewhere in the world. Lab leak theory initially dismissedThe suspicion that COVID-19 may have leaked from a Wuhan lab has circulated since the earliest days of the pandemic. Trump sought to use the pandemic to discredit China, using the xenophobic term "China virus" to describe the disease. A group of scientists criticised the WHO for dismissing the lab leak thesis too hastily, and pointed to gaps in the report's evidence. Yet the lab leak theory has continued to gain credibility, despite China's efforts, and scientists who once dismissed it now think it's a credible explanation.

☆ The Buffett test: This one chart shows how much every Club holding spends on stock buybacks
▼ + stars: | 2023-02-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

When Warren Buffett speaks, Wall Street listens — and the "Oracle of Omaha" issued a full-throated defense of stock buybacks in his latest annual letter to Berkshire Hathaway shareholders. After spending more than $1.2 billion on stock buybacks in 2022, Coterra's board approved a $2 billion buyback authorization last week. Costco: In January, the wholesale retailer's board reauthorized a $4 billion stock repurchase program , which is set to expire in four years. It's part of a $10 billion buyback authorization issued by Salesforce's board last August. As the chart makes clear, the vast majority of Club holdings engage in some level of stock repurchases, which is good news for shareholders.

Search resuls for: "US Energy"

25 mentions found