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☆ Australia tribunal pushes Chevron, LNG unions to resolve wage fight
▼ + stars: | 2023-09-21 | by ( Renju Jose | ) www.reuters.com time to read: +4 min

A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken Feb. 8, 2022. The commission's recommendations came a day after talks between Chevron and a union alliance over strikes at the Wheatstone and Gorgon facilities ended without a deal. "I strongly recommend that the parties adopt the recommendations ... which will hopefully resolve these disputes," FWC Commissioner Bernie Riordan said. The tribunal has the power to halt the strikes, which escalated to two 24-hour work stoppages over the weekend. Riordan said both Chevron and the unions "spent countless hours at the negotiating table" and the talks resulted in an agreement on the majority of provisions.

Persons: Dado Ruvic, Bernie Riordan, Riordan, Saul Kavonic, Renju Jose, Alasdair Pal, Sonali Paul Organizations: Chevron, REUTERS, SYDNEY, Thomson Locations: Australia, Sydney, Western Australia

☆ Lawmakers are waking up to the realities of 'gerontocracy.' But don't expect them to do anything about it.
▼ + stars: | 2023-09-20 | by ( Brent D. Griffiths | Bryan Metzger | ) www.businessinsider.com time to read: +8 min

Age limits remain popular, and lawmakers have begun to wake up to the realities of gerontocracy. "I believe everyone deserves the kind of dignity to make their own choices," said Democratic Sen. John Fetterman of Pennsylvania. He also opposes age limits, arguing that people should be able to "choose who they want, no matter how old they are." "Different people age differently, you know, somebody at a younger age may have more impacts due to aging than somebody at an older age. "I don't think it's a problem to be old, I think it's a problem to have a lack of diversity."

Persons: Mitt Romney, Sen, Lindsey Graham, Graham, Romney, Strom Thurmond, Democratic Sen, John Fetterman of, Dianne Feinstein's, Mitch McConnell, Joe Biden, Donald Trump, gerontocracy, Rep, Maxwell Frost, Anna Moneymaker, Gray, Frost, hasn't, Ro Khanna, Khanna, Dianne Feinstein, Saul Loeb, Republican Sen, John Hoeven, Hoeven, Steve Cohen of Tennessee, Marie Gluesenkamp Perez, Gluesenkamp Perez, Feinstein, McConnell, Democratic Sens, Ben Ray Luján, JD Vance Organizations: Service, Utah Republican, Capitol, South Carolina Republican, Democratic, Florida Democrat, Pew Research Service, California, Senate, Getty, Republican, Democratic Rep, Washington, Ohio Locations: Wall, Silicon, John Fetterman of Pennsylvania, Florida, North Dakota, New Mexico

☆ Biden to push for Ukraine aid, democracy as China and Russia skip UN General Assembly
▼ + stars: | 2023-09-18 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

Saul Loeb | AFP | Getty ImagesPresident Joe Biden will address the United Nations General Assembly on Tuesday, where he plans to promote democracy and advocate for increased support for Ukraine. Lula has argued the U.S. and other Western nations are prolonging the war with their defense support. This will be the first time Ukrainian President Volodymyr Zelenskyy has attended the U.N. summit in person since the war began. A "substantial section" of Biden's speech to the General Assembly on Tuesday will be devoted to the war in Ukraine, Sullivan said. U.S. support for Ukraine

Persons: Lloyd Austin, Alejandro Mayorkas, Joe Biden, Saul Loeb, Biden, it's, Jake Sullivan, Luiz Inácio Lula da Silva, Lula, Benjamin Netanyahu, Volodymyr Zelenskyy, Sullivan Organizations: Defense, . Homeland, Hurricane, White, Washington , D.C, AFP, Getty, United Nations General Assembly, Ukraine, House, . Security, Global, Israeli, General, United Nations Charter Locations: Maui, Hawaii, Washington ,, France, United Kingdom, China, Russia, United States, Brazil, Ukraine, U.S, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan

☆ Tupac, Cocaine, Murder: Henchmen Brothers, Hip-Hop's Forgotten Moguls
▼ + stars: | 2023-09-17 | by ( David Kushner | ) www.businessinsider.com time to read: +39 min

Mario called Tupac. All he could do was listen to her cry as he explained that he didn't know when he'd be back. He didn't speak Spanish, didn't know a soul in Mexico, and had no clue where he would be sent. Mario didn't ask why, and the guy didn't inquire about Mario's predicament. "It's all good, man," Mario told Jimmy.

Persons: Mario Rosemond, Rosemond, Jimmy, Mario, Akon, Sean Kingston, Gucci Mane, Jimmy Rosemond —, Lowell, Lodi Mack, Fletcher, Tupac Shakur, Tupac, Biggie Smalls, Jimmy Rosemond, Saul Goodman, Tommy Davis, Mario stammered, It's, Jimmy Jr, Andrea, Constantin, Johnny Nunez, Rikers, —, Slick, Russell Simmons, Benny Medina, Lyor Cohen, Chris Lighty, Mona Scott, Mark Sparks, Shoop, Paul Bergen, Bryce Wilson, Wilson, Mohammed, Tef, Stewart, Little Shawn, Puff Daddy, Pac, Freddie Moore, Moore, Al Pereira, would've, Jimmy wasn't, They'd, didn't, Jimmy didn't, —, Mike Tyson, Lennox Lewis, Wyclef Jean, Garland, Cyrus, THONY BELIZAIRE, Mariah Carey, LL, Missy Elliott, Cent, Tef Stewart, Jimmy Rosemond Jr, Jimmy Sr, Khalil Abdullah, Jimmy Iovine, determinedly, DJ Skee, Mario couldn't, Mario chuckles, he'd, GummyBone, Mario didn't, I'm, freckling, he's, isn't, I've, Jim Brown, Michael K, Williams, Donald Trump, Arturo Holmes, Scott Olson, Trump, Brown, James Rosemond Jr, David Kushner Organizations: FBI, Entertainment, Justice Department, Bronx ., Quad Studios, AP, grandad, Wall, Black Panthers, Junior Mafia, Hollywood, Haiti, Management, Apollo, Lowell, Racing, Interscope Records, Interscope, Feds, Department of Motor Vehicles, DMV, Colombian, York Post, Drug, Administration, NFL, Trump, Stone, Atari Locations: Mexico, Haiti, Brooklyn, Bronx, Cuernavaca, Spanish, Rahway , New Jersey, Port, New York City, Vanderveer Estates, East Flatbush, Rikers, Islam, Miami Beach, New York, New Jersey, East Coast, West Coast, Plainfield , New Jersey, Brandy, Los Angeles, Czar's, Harlem, LA, California, Beverly Hills, San, Tijuana, Mexico City, Colombian, San Diego, Manhattan

☆ Six Takeaways From Romney’s Tea-Spilling Biography
▼ + stars: | 2023-09-14 | by ( Annie Karni | More About Annie Karni | ) www.nytimes.com time to read: +2 min

Mr. Romney lives a hermitlike existence in Washington. Mr. Romney, 76, has few friends in Washington, and he did not follow President Harry S. Truman’s adage to get himself a dog. Publicly, Mr. Romney has long been on an island in a party subsumed by Trumpism. Mr. Romney also recalled a 2019 visit Mr. Trump made to the weekly Senate Republican lunch in the Capitol. But as soon as Mr. Trump left the room, the senators all burst out laughing.

Persons: Romney, Harry S, Ann, “ Ted Lasso ”, Saul, ”, Lisa Murkowski, Romney —, Trump, Mitch McConnell of, Donald J, ” Mr, Coppins, “ Organizations: Capitol, Republican, Publicly, Trumpism, Trump, Mr Locations: Washington, Alaska, Mitch McConnell of Kentucky, Russia

☆ Lena Dunham will paint you a custom mural for $3,000: Why celebs are auctioning their time and talents on eBay
▼ + stars: | 2023-09-14 | by ( Nicolas Vega | ) www.cnbc.com time to read: +3 min

For the low price of $3,000, Lena Dunham will paint a mural in your home. Dunham's offer, which is available to residents of New York City, Los Angeles and London, has already received 17 bids as of Tuesday morning. For $590, bidders can get "20 minutes and 20 Questions with filmmaker and actress Maggie Gyllenhaal." "Mr. Show" creators Bob Odenkirk and David Cross are offering to get dinner with a bidder in New York or Los Angeles. "The talent has the right to end the experience at any time, for any reason, with no refund," the terms say.

Persons: Lena Dunham, Lena, Dunham, Natasha Lyonne's, Severance, Adam Scott's, Maggie Gyllenhaal, Gyllenhaal, Sarah Silverman, Bob Odenkirk, David Cross, Saul, celebs, it's, Donald Glover's, Rian Johnson, Jeremy Allen White, Ebon Moss, Bachrach, Ayo, Brit Marling Organizations: Hollywood, New York Times, CNBC Locations: New York City, Los Angeles, London, New York, Atlanta

But for a variety of reasons, those facing serious crimes are most often required to serve their sentences in the United States. Image Danelo Cavalcante Credit... Chester County District Attorney's Office, via Associated PressDid U.S. law enforcement know that a fugitive from Brazil was in the United States? Mr. Cavalcante was wanted in Brazil in connection with the slaying of a man in his small town of Figueiropolis in 2017. Even if Brazil had issued an Interpol notice calling for his arrest, the United States would have had no reason to believe he was living in the United States. People who are tried and convicted of a crime in the United States must serve their time here, with rare exceptions.

Persons: Danelo, Danelo Souza Cavalcante, Cavalcante, ”, Aaron Reichlin, Alejandro Mayorkas, Desiree Rios, Biden, Mayorkas, Saul Martinez, noncitizens, ” Mr, Reichlin, Melnick, Eleni Cavalcante, “, William Stock, Stock Organizations: Department of Homeland Security, Prison, Immigrants, Attorney's, Associated Press, . Immigration, Customs, ICE, American Immigration Council, Homeland Security, The New York Times, ., Mr, Congress, United, Pennsylvania State Police, American Immigration Lawyers Association Locations: Pocopson Township, Pa, Brazil, United States, Pennsylvania, Chester, U.S, Chester County, Washington, Figueiropolis, Pompano Beach, Fla, deportable, Philadelphia

☆ Jessica Chastain and Peter Sarsgaard bring Hollywood to TIFF amid strikes
▼ + stars: | 2023-09-13 | by ( Jenna Zucker | ) www.reuters.com time to read: +2 min

Cast members Jessica Chastain and Peter Sarsgaard, Director Michel Franco attend the North American premiere of "Memory" at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 12, 2023. REUTERS/Carlos Osorio Acquire Licensing RightsTORONTO Sept 12 (Reuters) - Actors Jessica Chastain and Peter Sarsgaard brought Hollywood glamour to the Toronto International Film Festival for their family drama “Memory” amid strikes that have kept most celebrities off the carpets. Sarsgaard joins the North American premiere of the film after taking the prize for best actor at the Venice Film Festival, which marks the start of the awards season and regularly throws up big favourites for the Oscars. For Sarsgaard, who plays a man with early-onset dementia named Saul, the film is about connection and working through trauma. “There is a way out of trauma through love,” said Chastain, and she hopes this film helps the audience realize that in their own lives.

Persons: Jessica Chastain, Peter Sarsgaard, Michel Franco, Carlos Osorio, ’, Sarsgaard, Sylvia, ”, Saul, Chastain, Jenna Zucker, Miral Organizations: North, Toronto, Film, REUTERS, Screen Actors Guild, American Federation of Television, Radio Artists, Venice Film, Thomson Locations: Toronto , Ontario, Canada, Venice

☆ UK says Russia targeted civilian cargo ship in Black Sea port on Aug 24
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 11 (Reuters) - Britain on Monday accused Russia of targeting a civilian cargo ship at port in the Black Sea on Aug. 24 in a previously unconfirmed missile attack it said was successfully thwarted by Ukrainian defences. The missiles had targeted a Liberian-flagged cargo ship berthed in port and were successfully shot down, Britain's foreign office said in a statement. The missiles included two "Kalibr" missiles fired from a Black Sea Fleet missile carrier, it added. Since Russia quit a U.N.-brokered deal allowing Ukraine to safely export its grain via the Black Sea in July, Moscow has been accused by Ukraine of threatening civilian vessels in the Black Sea. "In targeting cargo ships and Ukrainian infrastructure, Russia is hurting the rest of the world."

Persons: Rishi Sunak, Sunak, Putin, James, William James, Muvija, Jonathan Saul, Guy Faulconbridge, Hugh Lawson, Chizu Organizations: Monday, UN, Liberian, Fleet, Reuters, Thomson Locations: Britain, Russia, Ukraine, Odesa, New Delhi, Moscow, United States, London

FILE PHOTO: The logo of Chevron is seen at the company's office in Caracas, Venezuela April 25, 2018. Australia is the world's biggest LNG exporter and its main buyers are in Asia. "Unfortunately, following numerous meetings and conciliation sessions before the Fair Work Commission, we remain apart on key terms," a Chevron spokesperson said. Brad Gandy, a spokesperson for the Offshore Alliance, said the union coalition had agreed "in good faith" to the mediated talks, "but after five days Chevron has barely budged". Energy analyst Saul Kavonic said the strikes appeared to be designed to put more pressure on Chevron to cut a deal rather than substantially affect production.

Persons: Marco Bello, Brad Gandy, ratcheting, Saul Kavonic, Renju Jose, Lewis Jackson, Leslie Adler, Jamie Freed, Miral Fahmy, William Mallard Organizations: Chevron, REUTERS, Rights, Woodside Energy, North West Shelf, Offshore Alliance, CHEVRON, Australian, South, Taiwan . Energy, Thomson Locations: Caracas, Venezuela, Australia, U.S, Asia, British, China, Japan, South Korea, Taiwan, Western Australia, Sydney

Signage is seen inside the Lloyd's of London building in the City of London financial district in London, Britain, April 16, 2019. The answer to that is yes," Neal told Reuters in an interview. "Absent UN intervention and UN clearance, we would not sanction the insurance," Neal said. The Lloyd's market estimated loss, net of reinsurance, from the Ukraine conflict was 1.6 billion pounds ($2 billion), he added. Lloyd's recorded a first-half pre-tax profit of 3.9 billion pounds ($4.9 billion) versus a loss of 1.8 billion pounds in the first half of 2022, helped in part by higher premium rates.

Persons: Hannah McKay, John Neal, Neal, Beazley, Adrian Cox, Cox, Lloyd's, Beazley's Cox, Sinead Cruise, Jan Harvey Organizations: REUTERS, United Nations, NATO, Moscow, Reuters, UN, Aeroflot, Thomson Locations: London, City, Britain, Turkey, Russia, Ukraine, Taiwan, Moscow

☆ Startup investors are fueling a boom in U.S. defense tech as China standoff opens doors at home
▼ + stars: | 2023-09-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +11 min

Louie added that he doesn't "know of a single major fund out there that isn't thinking about disruptive tech investing in the U.S., investing in defense tech, investing in microelectronics and AI in the next generation and next iteration." Stephen McCarthy | Sportsfile | Getty ImagesVC funding in aerospace and defense tech has shot up in recent years, according to data compiled by PitchBook for CNBC. The poster child for U.S.-focused defense tech is Anduril Industries, co-founded in 2017 by Oculus Rift designer Palmer Luckey. They can just look at the untapped potential in defense tech. "The government's becoming a better customer," said Shah, who previously served as managing partner of the Defense Department's Defense Innovation Unit, which seeks to accelerate the use of emerging technologies.

Persons: Hadrian, Chris Power Hadrian, Joe Biden, Gilman Louie, Alsop, Louie Partners, He's, Louie, Biden, Lindsay Gorman, she's, Gorman, Chris Power, Power, Hadrian's, Peter Thiel's, Palmer Luckey, Stephen McCarthy, Sportsfile, Anduril, Richard Jenkins, Bilal Zuberi, Lux, Zuberi, Jenkins, Saildrone didn't, Paul Kwan, Catalyst, What's, Kwan, Kyle Harrison, Saul Loeb, Raj Shah, Josh Wolfe, There's, Shah, Wolfe Organizations: Chris Power Hadrian Automation, America's Frontier, U.S, Marshall Fund's Alliance, Securing Democracy, Lux Capital, Fund, Andutil Industries, Enercare Center, Getty, PitchBook, CNBC, Industries, Oculus, Blue Force Technologies, Oceanic, Atmospheric Administration, Navy, Coast Guard, Google, Intel, AFP, Shield, Lux, Defense Department's Defense Innovation Unit, Power, YouTube, China Locations: China, U.S, America, Torrance , California, Los Angeles, Toronto, Canada, Ukraine, New Albany , Ohio, Silicon

[1/2] The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 7 (Reuters) - Goldman Sachs (GS.N) and Morgan Stanley (MS.N) are poised for stronger results next year compared to other large-cap U.S. banks as dealmaking on Wall Street picks up and asset management businesses gain momentum, HSBC said on Thursday. The brokerage said that Goldman Sachs and Morgan Stanley should post high single-digit to low double-digit revenue growth in 2024 and sizable earnings growth in 2024 and 2025 after being weighted from a decade-long low in investment banking. Lead analyst Saul Martinez believes a "bifurcation" is emerging in revenue forecast between traditional and capital markets-focused banks and picks Goldman Sachs as the brokerage's preferred name in its coverage. "We see deal activity picking up: even in a sluggish economic growth environment, greater visibility regarding the direction of economic growth, interest rates, and inflation should trigger more equity and debt issuance and M&A activity," Martinez said.

Persons: Goldman Sachs, Andrew Kelly, Morgan Stanley, Saul Martinez, Martinez, JPMorgan Chase, Wells, Aniruddha Ghosh, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Wall, HSBC, Federal Reserve, Bank of America, JPMorgan, of America, Thomson Locations: New York City , New York, U.S, Bengaluru

☆ This major bank's stock can rally 25% as dealmaking and consumer banking improve, HSBC says
▼ + stars: | 2023-09-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors shouldn't ignore Goldman Sachs as dealmaking regains steam and the consumer banking business turns a corner, according to HSBC. "Goldman Sachs is our preferred name in this sector," Martinez said in a note to clients. Goldman shares have underperformed the broader market with a 6.5% loss this year. Goldman could also see increased valuation multiples from strong earnings and returns on equity and tangible common shareholders' equity, the analyst said. Higher capital requirements or management talent leaves could also hurt shares, as could losses on sales of principal investments.

Persons: Goldman Sachs, Saul Martinez, Martinez, they've, Goldman, CNBC's Michael Bloom Organizations: HSBC, Valley Bank, Goldman, P Bank ETF Locations: Wednesday's

A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Sept 6 (Reuters) - Workers at Chevron's (CVX.N) liquefied natural gas facilities in Australia have agreed to pause planned strike action for one day, hours before they were due to begin industrial action in an ongoing dispute that has rattled gas markets. Chevron confirmed the pause in an emailed statement minutes later and said unions had advised it of the roughly one-day delay. The Dutch October natural gas contract fell as much as 7.2% to 31.45 euros per megawatt hour (MWh) after news of the pause. Australia is the world's biggest LNG exporter and the ongoing dispute has stoked volatility in natural gas markets, as traders worry about the risk of long-term disruption.

Persons: Dado Ruvic, Chevron, Saul Kavonic, Australia's, Lewis Jackson, Emily Chow, Nick Zieminski, Tony Munroe Organizations: Chevron, REUTERS, Rights, Reuters, Fair, Thomson Locations: Australia, Perth, Chevron Australia, Sydney, Singapore

Some of them, like “Dune: Part Two," have been postponed until next year due to the ongoing actors and writers strikes. Gillespie’s film features a freewheeling ensemble including Pete Davidson, Anthony Ramos, Seth Rogen, Shailene Woodley, America Ferrera and Nick Offerman. “Fair Play” (in theaters Sept. 29, on Netflix Oct. 13)Hedge funds also play a role in writer-director Chloe Domont’s drama about sexual politics and gender dynamics in the high-charged, male-dominated world of finance. Eight years after the last “Hunger Games” movie (“Mockingjay – Part 2”) a prequel is returning to the science fiction dystopia of Panem. Francis Lawrence’s film, set 64 years before the events of the first “Hunger Games” film, introduces a host of new characters in the lead-up to the 10th Hunger Games.

Persons: ”, Expendables, Gael García Bernal, Roger Ross Williams, Saúl Armendáriz, Williams, Bunny, Craig Gillespie’s, ” Paul Dano, Keith Gill, Pete Davidson, Anthony Ramos, Seth Rogen, Shailene, America Ferrera, Nick Offerman, Chloe Domont’s, Phoebe Dynevor, Alden Ehrenreich, Aristotle, Dante, “ El Conde ”, Flora, Son ”, Henry Sugar ”, “ Carlos ”, “ Dicks, Justine Triet’s, Palme, Sandra Hüller, Martin Scorsese’s, David Grann's, Lily Gladstone, Scorsese, Leonardo DiCaprio, Robert De Niro, Robbie Robertson, Baz Luhrmann’s, Elvis Presley, Sofia Coppola, Priscilla Presley, “ Elvis, ” Jacob Elordi, “ Joan Baez, “ Taylor Swift, Nyad, “ Rustin ”, Colman Domingo, Bayard Rustin, George C, Martin Luther King Jr, Panem, Francis Lawrence’s, Tom Blyth, Rachel Zegler, Peter Dinklage, Viola Davis, ” Ridley Scott, Joaquin Phoenix, Napoleon Bonaparte, Vanessa Kirby, Joséphine Bonaparte, Sly ”, “ Orlando, Maestro ”, “ Leo ” Organizations: GameStop, America, Netflix, Sundance Film, Paramount, Apple, Cannes Film, Hüller, Hunger Locations: Shailene Woodley, Venice, Osage, Washington

☆ Why I Love Doing Homework (Even If My Kids Hate It)
▼ + stars: | 2023-09-05 | by ( Saul Austerlitz | ) www.nytimes.com time to read: +3 min

But here’s the thing: I love homework. I don’t love being the bad guy my kids jeer when I remind them that it is homework time once again. I love bearing witness to the steady accretion of skill, until I notice that my younger son is suddenly reading fluidly, no longer requiring my assistance. I even enjoy the process of tweaking my older son’s math routine, again and again, until all the pieces — whiteboard, marker, dining table, checking your work — cohere. My grandfather Joseph Austerlitz — whose face I see reflected in my older son’s — left Vienna in 1936, not long before the Nazi Anschluss.

Persons: Charles Darwin, —, Joseph Austerlitz —, Saul Austerlitz, Dutton Locations: Vienna, Nazi

☆ What Wall Street is telling employees about returning to the office, from Goldman Sachs to JPMorgan and Blackstone
▼ + stars: | 2023-09-04 | by ( Kaja Whitehouse | Michelle Abrego | ) www.businessinsider.com time to read: +11 min

According to Goldman's chief economist, Jan Hatzius, some 25% of all US workers work from home at least part of the week. So, which Wall Street firms are still letting employees work from home at least part of the time? On days employees are in, the firm focuses on taking "advantage of our shared location," it reads. At that time, the firm called for its employees to come into the office a minimum of three days a week. Since then, most employees have been in the office throughout the week, according to a person familiar with the firm.

Persons: Goldman Sachs, David Solomon, Citadel's Ken Griffin, Joe Biden, Jan Hatzius, Hatzius, Jamie Dimon, Goldman, Goldman Sachs Goldman Sachs, —, Dimon, JPMorgan Gretchen Ertl, Jane Fraser, she's, Fraser, they're, Citigroup Patrick, Fallon, Brian T, Moynihan, Bank of America Shannon Stapleton, Reuters Morgan Stanley Morgan Stanley's, James Gorman, Gorman, Gorman doesn't, Morgan Stanley, we're, James Gorman SAUL LOEB, Larry Fink, Larry Fink Spencer Platt, Citadel's Griffin, Griffin, Raj Mahajan, Ken Griffin, Milken, Mike Blake, Blackstone, Stephen Schwarzman Roy Rochlin, Nir Bar Dea, Izzy Englander's Organizations: JPMorgan, Blackstone, Morning, Citadel, Bloomberg, Business, Deloitte, JPMorgan JPMorgan, Goldman, Citigroup, Street, Bank, Economic, Getty Images Bank of America Bank of, Bank of America, Reuters, Getty, BlackRock BlackRock, Yards, Labor, Fox, BlackRock, Citadel Securities, Blackstone Blackstone, Bridgewater Bridgewater Associates, Bridgewater Associates, Bridgewater Locations: Citadel, Davos, Switzerland, New York City

☆ China slowdown, oil output cuts in focus at key energy industry events
▼ + stars: | 2023-08-31 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

Oil, miniatures of oil barrels and U.S. dollar banknote are seen in this illustration taken, June 6, 2023. China's sluggish post-COVID growth, which has curbed fuel and petrochemical demand, will loom large over both events, while concerns about LNG supplies ahead of the northern hemisphere winter are set to dominate talks at Gastech. Russian oil exports have continued despite prices rising above price caps as the West is keen to maintain global supplies and keep prices down. Meanwhile, U.S. sanctions on Venezuela look poised to ease, improving global supply while abundant and cheap Iranian oil heads for China. While the balance in global LNG markets remains delicate, the longer term demand outlook is uncertain as big importers including Japan and Europe aim to reduce the use of fossil fuels.

Persons: Dado Ruvic, Alexander Novak, Moscow, Amrita Sen, Sen, Saul Kavonic, Florence Tan, Miral Organizations: REUTERS, Rights, Asia Pacific Petroleum Conference, OPEC, U.S, United, United Arab Emirates dirham, Thomson Locations: Saudi Arabia, Singapore, Asia, Gastech, India, China, Ukraine, United Arab, Venezuela, Japan, Thailand, Bangladesh, Europe

☆ Yale’s President Announces He Will Step Down
▼ + stars: | 2023-08-31 | by ( Stephanie Saul | More About Stephanie Saul | ) www.nytimes.com time to read: +1 min

Peter Salovey, the president of Yale, announced Thursday that he will step down in June after 11 years in office, during which he increased the university’s endowment, student enrollment, and its racial, ethnic and economic diversity. A decade ago, the number of first-generation students was 12 percent. This year, Black students made up 14 percent of the class, 18 percent were Latino, 42 percent were white and 30 percent were Asian American. Image Peter Salovey, the president of Yale, in 2017. Credit... Kimberly White/Getty ImagesIn Dr. Salovey’s last year as president, elite colleges will confront a new admissions landscape. Yale University has resisted eliminating the preference and about 11 percent of the class of 2027 are legacies.

Persons: Peter Salovey, Kimberly White, Salovey’s Organizations: Yale, Grants, Yale University

☆ Ron DeSantis’s Illiberal Education
▼ + stars: | 2023-08-30 | by ( William A. Galston | ) www.wsj.com time to read: +1 min

William A. Galston writes the weekly Politics & Ideas column in the Wall Street Journal. He holds the Ezra K. Zilkha Chair in the Brookings Institution’s Governance Studies Program, where he serves as a senior fellow. A participant in six presidential campaigns, he served from 1993 to 1995 as Deputy Assistant to President Clinton for Domestic Policy. Mr. Galston is the author of 10 books and more than 100 articles in the fields of political theory, public policy, and American politics. A winner of the American Political Science Association’s Hubert H. Humphrey Award, he was elected a Fellow of the American Academy of Arts and Sciences in 2004.

Persons: William A, Galston, Ezra K, Saul Stern, Dean, Clinton, Association’s Hubert H, Humphrey Organizations: Street, Zilkha, Brookings Institution’s, Brookings, School of Public Policy, University of Maryland, Institute for Philosophy, Center for Information, Research, Civic, National Commission, Domestic, Liberal Pluralism, Public, Rowman & Littlefield, Liberal Democracy, Yale, American, American Academy of Arts and Sciences Locations: Brookings

☆ Regional banks face another hit as regulators force them to raise debt levels
▼ + stars: | 2023-08-29 | by ( Hugh Son | ) www.cnbc.com time to read: +5 min

Saul Loeb | AFP | Getty ImagesU.S. regulators on Tuesday unveiled plans to force regional banks to issue debt and bolster their so-called living wills, steps meant to protect the public in the event of more failures. Higher funding costsThe requirements will create "moderately higher funding costs" for regional banks, the agencies acknowledged. Still, the industry will have three years to conform to the new rule once enacted, and many banks already hold acceptable forms of debt, according to the regulators. They estimated that regional banks already have roughly 75% of the debt they will ultimately need to hold. Analysts have focused on the debt requirements because that is the most impactful change for bank shareholders.

Persons: Martin Gruenberg, Saul Loeb, Banks, Gruenberg, What's, Morgan Stanley, Manan Gosalia Organizations: Federal Deposit Insurance Corporation, Banking, Urban Affairs, Capitol, AFP, Getty, Treasury Department, Office, Currency, Federal Reserve, Federal Deposit Insurance Corp, FDIC, Brookings Institution, Silicon Valley Bank, Regulators, Analysts, T Bank, Citizens Financial, Northern Trust, Fifth Third Bancorp, Bank Locations: Washington , DC, Silicon

☆ Ron DeSantis faces new leadership test as Hurricane Idalia barrels toward Florida
▼ + stars: | 2023-08-29 | by ( Steve Contorno | ) edition.cnn.com time to read: +10 min

CNN —With the eyes of the country on Hurricane Idalia as it spins toward Florida’s Gulf Coast, Florida Gov. Ron DeSantis’ presidential ambitions are also under the spotlight as he puts his campaign on hold to manage the crisis at home. The Florida governor is also staving off a field of GOP contenders, who must now also balance sensitivities around Hurricane Idalia with their attempts to overcome DeSantis in the polls. DeSantis has also asserted that he could send his “Florida people” to the southern border to build a wall. “The governor of our state of Florida has created an environment ripe for this.”

Persons: Ron DeSantis, DeSantis, ” DeSantis, Ian, Republican Rick Scott, Hurricane Michael, Bill Nelson, Scott, Jeb Bush, George W, Bush, Chris Christie, Christie, “, ”, Alex Conant, Florida Sen, Marco Rubio’s, Andrew Romeo, ” Romeo, Hurricane Ian, Joe Biden –, Biden, Joe Biden, Saul Young, Donald Trump, Todd Belt, Angie Nixon Organizations: CNN, Gulf Coast , Florida Gov, Republican, White, Hurricane, US, GOP Gov, GOP, Knoxville News Sentinel, George Washington University, Democrats, Trump, ” Democratic, Jacksonville Locations: Gulf Coast , Florida, Tallahassee, Iowa, Florida, New Jersey, New Hampshire, Hawaii, Fort Myers Beach , Florida, Lee County, Florida’s Big, Jacksonville, DeSantis

Chevron's Gorgon and Wheatstone projects account for more than 5% of global LNG capacity, and news of the possible strikes sent European natural gas prices surging. "It's set to cost Chevron their LNG exports as (the industrial action) starts to bite," said the alliance that groups together the Maritime Union of Australia and the Australian Workers' Union. The unions last week warned that work stoppages could cost Chevron billions of dollars. "Ten hour work stoppages: it is a harsher initial industrial action than what the unions contemplated for Woodside," he said. Last week, Offshore Alliance and Woodside (WDS.AX) resolved worker disputes at North West Shelf, Australia's largest LNG facility, after negotiating higher wages, job security and employee-friendly rosters, averting industrial action.

Persons: Gaby Oraa, Wheatstone, Saul Kavonic, Renju Jose, Lewis Jackson, Florence Tan, Alasdair Pal, Chris Reese, Shri Navaratnam, Tom Hogue Organizations: Chevron, U.S, REUTERS, SYDNEY, Workers, Reuters, Offshore Alliance, Maritime Union of Australia, Australian Workers ' Union, Shell, Energy, Woodside, North West Shelf, Thomson Locations: Venezuela, Caracas, SINGAPORE, Australia, Woodside, WDS.AX, Asia, Chevron, Sydney, Singapore

A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken February 8, 2022. Workers on Thursday voted to authorize the Offshore Alliance of unions to call a strike at Chevron's Gorgon and Wheatstone projects. In a Facebook post on Friday, the union alliance said of Chevron's senior management team: "Their stupidity is about to cost them $billions in lost production and profit." The Offshore Alliance, which combines the Maritime Union of Australia and Australian Workers' Union, must give Chevron seven working days' notice before a strike. The Offshore Alliance announced on Friday that workers had "overwhelmingly endorsed" the draft agreement in a meeting the previous evening.

Persons: Dado Ruvic, Wheatstone, Saul Kavonic, Renju Jose, Lewis Jackson, Cynthia Osterman, Kim Coghill Organizations: Chevron, REUTERS, Rights, Workers, Offshore Alliance, North West Shelf, Maritime Union of Australia, Australian Workers ' Union, South, Taiwan . Energy, West Shelf, Woodside, Thomson Locations: Chevron's, Australia, Woodside, Europe, China, Japan, South Korea, Taiwan, Woodside's, Dutch, Sydney

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