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☆ Austin says it’s ‘unfortunate’ that Chinese defense chief declined meeting
▼ + stars: | 2024-11-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

WASHINGTON — China’s defense minister declined a meeting with Defense Secretary Lloyd Austin during a meeting of defense leaders in Laos, a move the Pentagon chief said Wednesday was unfortunate. Multilateral gatherings of national security officials in Asia have been used in the past for meetings between U.S. and Chinese defense leaders, but China declined a meeting request by Austin during this week’s Southeast Asian Nations-Plus defense ministers meeting. It affects the region because the region really wants to see us, you know, two significant players in the region, two significant powers, talk to each other,” Austin told reporters. “I don’t think that it has any sort of implications for the future. Chinese President Xi Jinping vowed on Saturday to work with the incoming U.S. administration of Donald Trump as he held his final talks with departing President Joe Biden on conflicts from cybercrime to trade, Taiwan, the South China Sea and Russia.

Persons: WASHINGTON, Lloyd Austin, Wednesday, “, ” Austin, ” Austin added.Austin, Dong Jun, Xi Jinping, Donald Trump, Joe Biden Organizations: Pentagon, Austin, Nations Locations: Laos, Asia, China, Singapore, Taiwan, cybercrime, South, Sea, Russia

WASHINGTON — The Senate voted overwhelmingly Wednesday night to reject three efforts led by progressive Sen. Bernie Sanders that would have blocked certain offensive weapons sales to Israel. In a speech on the Senate floor ahead of the vote, Sanders argued that the resolutions "would not affect any of the systems Israel uses to defend itself from incoming attacks," focusing instead on offensive weapons. "As I have said many, many times: Israel had the absolute right to respond to that horrific Hamas attack, as any other country would. I don’t think anybody here in the United States Senate disagrees with that," he said in his floor speech. More than 43,000 Palestinians have been killed in Israel’s offensive into the dense enclave since the attack, according to health officials in Gaza.

Persons: WASHINGTON, Sen, Bernie Sanders, Sanders, Benjamin Netanyahu, Ed Markey, Netanyahu, Martin Heinrich, Tammy Baldwin, “, Catherine Cortez Masto, ” Sen, Jacky Rosen, ”, Joni Ernst, Bill Cassidy, Israel’s Organizations: U.S, United States, Hamas, Democrats, Biden Locations: Israel, Gaza, U.S, United States, D, Iowa

The University of Mobile is mourning the sudden death of freshman basketball player Kaiden Francis this week. Francis, of Fort Lauderdale, Florida, collapsed on campus Tuesday morning and died, university President Charles Smith said in a letter to students and faculty. "Yesterday morning Kaiden Francis, freshman point guard from Fort Lauderdale unexpectedly passed away after doing what he loved to do, working on his craft in the gym," Archey wrote. Classes at the university of almost 2,000 students were canceled Wednesday, and a vigil was held on campus Wednesday morning. "He was profoundly gifted and clearly loved by his teammates," Smith wrote.

Persons: Kaiden Francis, Francis, Charles Smith, Kaiden, Smith, Darnell Archey, Archey Organizations: University of Mobile, Facebook Locations: Fort Lauderdale , Florida, Fort Lauderdale

☆ Viral banana artwork has sold again — this time for $6.24 million
▼ + stars: | 2024-11-21 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

But artist Maurizio Cattelan’s viral creation, titled “Comedian,” has proven a sound investment for one collector: One of the artwork’s three “editions” smashed estimates to sell for $6.24 million at a Sotheby’s auction in New York on Wednesday. The auction house had estimated the work to go for between $1 million to $1.5 million; bidding began at $800,000. Prior to the sale, Sotheby’s confirmed to CNN that neither the tape nor, thankfully, the banana are the originals. The Miami installation was eventually removed amid public safety concerns, but all three editions were sold at the fair. In interviews given since the Miami installation, Cattelan has described “Comedian” as a work of commentary.

Persons: Maurizio Cattelan’s, ”, , Oliver Barker, Sotheby’s, Justin Sun, ” Sun, “, ’, Marcel Duchamp’s, David Datuna, David Galperin, ” Galperin Organizations: CNN, Art Basel Miami Beach, Guggenheim, Art Newspaper, Leeum Museum of Art, Seoul National University Locations: New York, Miami, Americas, Seoul, South Korea, London, Paris, Milan, Hong Kong, Dubai, Taipei, Tokyo, Los Angeles

Trump’s pick for defense secretary, Pete Hegseth, was accused of sexual assault. Trump himself has faced various sexual misconduct allegations, which he has denied, though he was found liable last year for sexual abuse in a civil trial over an alleged incident in the 1990s that he also denies. Now, after having won the presidency again, he’s spending early political capital to confirm appointees who have faced sexual misconduct allegations of their own. The allegations against Trump’s picksGaetz’s years of controversies have been thrust back into the spotlight now that he’s up for a Cabinet post. “It’s a very scary time for young men in America when you can be guilty of something that you may not be guilty of,” Trump told reporters.

Persons: Donald Trump’s, Matt Gaetz, Pete Hegseth, Robert F, Kennedy Jr, Gaetz, Hegseth, Kennedy, “, Trump, ”, Marc Short, Mike Pence’s, we’ve, Trump’s, hasn’t, Tim Parlatore, Bill Clinton’s, George H.W, Barack Obama’s, haven’t, Andy Puzder, Puzder, Patrick Shanahan, Shanahan, Ronny Jackson, Jackson, Brett Kavanaugh, Kavanaugh, ” Trump, reconsidering, JD Vance, Karoline Leavitt, Vance, MAGA, ” Leavitt Organizations: NBC News, NBC, “, Justice Department, Trump, Committee, Washington Post, Republican, You’re, Politico, Pentagon, White House, Department of Veterans Affairs, Supreme, Capitol, White Locations: groping, Florida, America, Hegseth, Washington

A banana duct-taped to a white wall — or an acclaimed piece of art, depending how you look at it — sold at a Sotheby's auction for $6.24 million on Wednesday. The artwork debuted at Art Basel Miami Beach in December 2019 and was initially estimated to sell around $1.5 million, according to Sotheby's. At one point, someone even took the banana off the wall and ate it. According to Sotheby's, Cattelan "single-handedly prompted the world to reconsider how we define art, and the value we seek in it." As Galperin put it, "There is no better forum to adjudicate the value of art and a single object than the platform of auction."

Persons: —, Maurizio Cattelan's, Nancy Durrant, Maurizio Cattelan, David Galperin, Sotheby's, rhapsodically, Durrant, Lucius Elliot, Durrant —, Elliot, Maurizio, Emmanuel Perrotin, Perrotin, Galperin Organizations: Art Basel Miami Beach, Art Basel, Americas, New, New York Post, Vogue Locations: New York

☆ FBI investigating whether burglaries targeting athletes are linked to a transnational crime ring
▼ + stars: | 2024-11-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Tom_Winter_Nbc_News.Jpg | Tom Winter | ) www.nbcnews.com time to read: +2 min

The officials said Wednesday that they have not made any determination as to who exactly is responsible, and the investigation is ongoing. The report did not identify Mahomes, but the address listed matches public records for Super Bowl-winning the quarterback. Travis Kelce and Patrick Mahomes of the Kansas City Chiefs on Dec. 17, 2023, in Foxborough, Mass. Twenty-thousand dollars was taken, according to a police report obtained by NBC affiliate KSHB of Kansas City. “We are aware of some of the other athletes in different states that have had their homes burglarized," the statement said.

Persons: Patrick Mahomes, Travis Kelce, Mahomes, Sarah Stier, Bobby Portis, Mike Conley Jr, Conley, ” Organizations: FBI, Kanas City Chiefs, Sheriff’s Office, Super Bowl, Kansas City Chiefs, NBC, Milwaukee Bucks, The Minneapolis Star Tribune, Minnesota Timberwolves, Minnesota Vikings, NBC News Locations: South America, Belton , Missouri, Cass, Foxborough, Leawood , Kansas, Kansas City, Medina , Minnesota

☆ Dollar pulls ahead as markets focus on Trump policies, Fed outlook
▼ + stars: | 2024-11-21 | by ( ) www.cnbc.com time to read: +4 min

After stalling for three sessions, the greenback was back on the march higher, with investors lifting the dollar index measure against its key rivals closer to a one-year high of 107.07 hit last week. The dollar has rallied more than 2% since the Nov. 5 U.S. presidential election on bets Trump's policies could reignite inflation and temper the Fed's future rate cuts. The dollar index held steady at 106.56, up from a one-week nadir hit in the previous session. "The Russia-Ukraine conflict is heating up, which is further denting sentiment towards the euro alongside the prospects of trade tariffs," another "bullish cue" for the dollar index given the euro's heavy weighting, City Index's Simpson said. The dollar gave up some gains against the yen, down 0.33% at 154.91 yen , although the Japanese currency remained under pressure.

Persons: Donald Trump's, Matt Simpson, CME's, Michelle Bowman, Lisa Cook, Index's Simpson, Kazuo Ueda, Sterling, bitcoin, Bitcoin Organizations: U.S, Federal Reserve, Wednesday, Storm, ATACMS, Bank of Japan, Bank of England's Locations: Europe, China, Russia, Ukraine, Paris

☆ Goldman Sachs: staggered tariffs on China expected
▼ + stars: | 2024-11-21 | 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 EmailGoldman Sachs: staggered tariffs on China likely, but don’t discount broader levy expansion on AsiaGoldman Sachs' Andrew Tilton talks about the 4.5% growth projection for China in 2025 and discusses the implication of tariffs on the country and the broader Asia economy.

Persons: Goldman Sachs, Asia Goldman Sachs, Andrew Tilton Locations: China, Asia

☆ Hong Kong is "on the ascendancy" in entertainment, says events CEO
▼ + stars: | 2024-11-21 | 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 EmailHong Kong is "on the ascendancy" in entertainment, says events CEOMichael Denmark of Great Entertainment Group talks about the recovery of Hong Kong's events economy and its status as a destination of choice for live entertainment.

Persons: Michael Denmark of Organizations: Hong, Michael Denmark of Great Entertainment Group Locations: Hong Kong

☆ Allcargo is optimistic on growth despite Trump 2.0 tariff risk
▼ + stars: | 2024-11-21 | 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 EmailAllcargo is optimistic on growth despite Trump 2.0 tariff riskRavi Jakhar of Allcargo Group notes that despite potential tariff risks from Trump 2.0, trade flows will remain robust, and manufacturing and consumption will remain present. He remains optimistic about future growth, with opportunities for Allcargo to expand into other markets and capitalize on evolving trade dynamics.

Persons: Ravi Jakhar Organizations: Trump, Allcargo

☆ Elon Musk says he's had little to do with Trump's cabinet picks — he just likes 'spending time' with the man
▼ + stars: | 2024-11-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

But the Tesla and SpaceX CEO said he's had little input on Trump's Cabinet picks. Elon Musk says he's had little input on President-elect Donald Trump's cabinet picks. He was a major contributor to Trump's campaign, spending just under $119 million on his pro-Trump political action committee, America PAC. Musk, according to multiple media reports, has joined Trump's calls with Ukrainian President Volodymyr Zelenskyy and Google CEO Sundar Pichai. Lutnick, Musk wrote in an X post on November 16, "will actually enact change," compared to another candidate, hedge fund CEO Scott Bessent.

Persons: Elon Musk, Donald Trump, he's, Musk, Donald Trump's, Haven't, Robert F, Kennedy Jr, cott, ott Organizations: SpaceX, Cabinet, New York Post, Trump's, UFC, Trump, Madison Locations: Lago, Palm Beach , Florida, usk

☆ Britain’s 'mini-budget' disaster should serve as a warning to the U.S., bond strategists say
▼ + stars: | 2024-11-21 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Bloomberg | Bloomberg | Getty ImagesFears are mounting that the U.S. could soon experience its own version of Britain's "mini-budget" crisis, with bond strategists warning that Donald Trump's return to the White House brings with it the specter of currency volatility and surging bond yields. The former president's economic agenda has ratcheted up concerns about a surge in consumer prices, which strategists say could spark significant shifts in bond yields and investor behavior. They warn a scenario that mirrors Britain's mini-budget crisis of 2022 is not out of the question. watch nowBritain's mini-budget crisis refers to a tumultuous period under former Prime Minister Liz Truss and ex-Finance Minister Kwasi Kwarteng. Bond yields tend to rise when market participants expect higher consumer prices or a growing budget deficit.

Persons: Donald Trump, Donald Trump's, Trump, Remtulla, Liz Truss, Kwasi Kwarteng, Kwarteng, Althea Spinozzi, Trump's, Spinozzi, Angela Weiss, Paul Ashworth, Ashworth, Thierry Wizman, likelier, Wizman Organizations: Economic, of New, Bloomberg, Getty, EFG, CNBC, U.S ., Finance, U.S, Bank of England, Saxo Bank, White, Treasury, Traders, New York Stock Exchange, AFP, Capital Economics, Macquarie Group Locations: of New York, New York, U.S, Foreign, Treasurys, Treasuries, New York City, America

☆ Vance debuts new role as Trump’s point person on Capitol Hill
▼ + stars: | 2024-11-21 | by ( Alayna Treene | Steve Contorno | ) edition.cnn.com time to read: +8 min

Congressional Republicans acknowledge that Vance hasn’t necessarily developed longstanding relationships on Capitol Hill during his abbreviated time in Washington. His coattails turned a 49-51 senate to a 53-47 senate,” Vance wrote on X on Wednesday. The three developed a bond that predates the campaign and has carried into the early days of Trump’s transition. But when you look at the effectiveness of JD in the campaign, there’s no better surrogate for President Trump’s agenda,” the adviser said. “In JD’s view, his role of VP is to take on any issue that President Trump would like him to take on,” the person close to Vance told CNN.

Persons: JD Vance, Donald Trump’s, Vance, Matt Gaetz, he’ll, Pete Hegseth, Vance hasn’t, ”, North Dakota Sen, Kevin Cramer, Trump, “, Donald Trump, ” Cramer, ” Vance, “ Donald J, coattails, Joe Biden’s, Grace Chong, Steve Bannon’s, Chong, ” Trump, Tom Homan, ’, Tulsi Gabbard, Donald Trump Jr, —, Trump’s MAGA, Kamala Harris ’, JD, James Braid, “ Vance, you’ll, ” CNN’s Ted Barrett Organizations: CNN, Capitol, Trump’s Cabinet, Florida Rep, Fox News, Department of Defense, Senate, White, GOP, Cabinet, Trump, FBI, Republican, Democratic, Mar, Elon, JD, Central America —, “, White House Locations: Ohio, Washington, North Dakota, Central, Trump

☆ British regulators will soon announce competition remedies for the multibillion-pound cloud industry
▼ + stars: | 2024-11-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Igor Golovniov | Sopa Images | Lightrocket via Getty ImagesLONDON — Britain's competition regulator is preparing remedies aimed at solving competition issues in the multibillion-pound cloud computing industry. The sources, who preferred to remain anonymous given the investigation's sensitive nature, said that the cloud market remedies could be announced within the next two weeks. Amazon is the largest player in the market, offering cloud services via its Amazon Web Services (AWS) arm. Ofcom subsequently referred its cloud review to the CMA to address competition issues in the market. She is expected to outline plans for a review in 2025 into whether the CMA should more frequently use behavioral remedies when approving deals, the FT reported.

Persons: Igor Golovniov, there's, Sarah Cardell, Keir Starmer Organizations: Ofcom, Microsoft, Getty, Markets, CNBC, CMA, Amazon, Web Services, Google, Chatham House, Financial Times Locations: U.S, U.K

☆ More than half of non-retired US adults expect to rely on Social Security in retirement
▼ + stars: | 2024-11-21 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

CNN —Social Security is by far one of the most popular government programs in the United States because it is critical for so many retirees’ financial security. More than half of non-retired US adults (53%) overall said they expect they will need to use Social Security to pay for necessary expenses, according to a new survey from Bankrate. Social Security benefits only replace a portion of Americans’ pre-retirement income. Indeed, only 31% of the non-retired adults surveyed said they are not planning to rely on Social Security benefits in retirement, with just 14% saying they will “not (be) at all” reliant on them. Their “normal retirement age” is 67 for the purposes of collecting Social Security benefits.

Persons: That’s, one’s, ’, they’ll, ”, Mark Hamrick, Bankrate —, —, Trump, they’ve, haven’t Organizations: CNN, Social, Security, —, Social Security, Bankrate, Social Security Administration Locations: United States

The woman who accused Hegseth of assault broke into tears when asked about the matter by CNN reporters last week and declined to comment. The report, which identifies the accuser as “Jane Doe,” summarizes police interviews with Doe, Hegseth, conference attendees and a hotel employee, and includes descriptions of video footage from the hotel viewed by police. There, a conference attendee told police that Hegseth had touched her knee and invited her to come to his hotel room. Doe told police that her next memory after the argument was being in a hotel room with Hegseth. He said that he was “buzzed” that night after drinking beer and remembered going back to his hotel room with Doe.

Persons: Pete Hegseth, “, Hegseth, Donald Trump, I’ve, ” Timothy Parlatore, Jane Doe, ”, Doe, Facebook Doe, Hegseth “, Hegseth ejaculating, didn’t, Doe “, “ ‘, ‘, CNN’s Yahya Abou, Ghazala Organizations: CNN, Trump Cabinet, Fox News, California Federation of Republican Women, Hyatt Regency Monterey, Trump, Republican, Hyatt Regency Monterrey, Hegseth, ” Police Locations: California, Monterey , California, Hyatt Regency Monterey Hotel, Spa, Monterey, Monterey County, Doe

☆ Thai court gives death penalty to woman accused of cyanide serial killings
▼ + stars: | 2024-11-21 | by ( Jessie Yeung | Kocha Olarn | ) edition.cnn.com time to read: +3 min

Bangkok, Thailand CNN —A Thai court has handed down the death penalty to a woman accused of fatally poisoning at least a dozen people, the first ruling in a high-profile serial murder case that has gripped the nation. The court convicted her of charges including premeditated murder, robbery causing death and spiking food or other consumables resulting in death. In addition to the death sentence, she was also ordered to pay compensation for unrecovered stolen items. Thanicha told CNN on Thursday that Saratat denies the accusations against her and plans to appeal her conviction. No executions have taken place since, but courts have handed down the death sentence in several cases, including the high-profile murders of two British backpackers in 2019.

Persons: Sararat Rangsiwuthaporn, NBT Connext, –, Siriporn, Sararat, Thanicha Eksuwanwat, Witoon, Thanicha, Saratat, ” Thanicha Organizations: Thailand CNN, CNN, Sararat Locations: Bangkok, Thailand

In this article MAR Follow your favorite stocks CREATE FREE ACCOUNTMarriott International's business operations and growth are solid, CEO Anthony Capuano told CNBC Monday, amid layoffs of more than 800 corporate employees and continued sluggishness in China's tourism market. Marriott International reported net room growth of 6% year-on-year and room rate growth of 2.5%, driven by a strong return of group travel, which Capuano called the "bright, shining star" for the business today. The company raised its year-end guidance for net room growth, and added 9 million new Bonvoy members in the third quarter. That measure turned out to be corporate layoffs, first reported by the travel media company Skift on Nov. 14, which later linked to a notice of "mass layoffs" of 833 Marriott employees posted on a Maryland government labor website. watch nowCapuano denied that the company — which doubled in size during the past decade — grew too big, too fast, at least in terms of corporate employees, instead calling the move a much-needed "reorganization" of its global corporate structure.

Persons: Anthony Capuano, Capuano, Leeny Oberg, —, Rather Organizations: Marriott, CNBC, Marriott International, Uber, Starbucks Locations: RevPar, China, Greater China, Maryland, Bethesda , Maryland

☆ Grimes says she was 'going bankrupt' during custody battle with Elon Musk
▼ + stars: | 2024-11-21 | by ( Lauren Edmonds | Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

AdvertisementGrimes shared new details about her custody dispute with her former partner, Elon Musk. Grimes said she was "going bankrupt" during the dispute and had a "fraction" of Musk's resources. Grimes says she was "going bankrupt" during her custody dispute with Tesla CEO and billionaire Elon Musk, with whom she shares three children. Grimes, whose real name is Claire Elise Boucher, became embroiled in a custody dispute with Musk in 2023 over X Æ A-Xii , Exa Dark Sideræl, and Techno Mechanicus. Related VideoGrimes and Musk have largely been quiet about the custody dispute, however Grimes on Wednesday shared some details about how going to court against her billionaire ex impacted her.

Persons: Grimes, Elon Musk, Claire Elise Boucher, Musk, hasn't, August Grimes, Donald Trump, group's Organizations: Tesla, Business, Department of Government Locations: California, Texas, , Texas, Austin , Texas

☆ Boeing CEO Kelly Ortberg says the company's staff 'spend more time arguing' than strategizing about how to beat Airbus: report
▼ + stars: | 2024-11-21 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

The CEO also spoke with President-elect Donald Trump about the impact of his potential tariffs. Boeing's CEO Kelly Ortberg has a stern warning for his staff — stop squabbling and get to work. During the meeting, Ortberg also told staff not to "sit at the water cooler and bitch about people," per The WSJ's transcription of the recording. AdvertisementThe WSJ also reported that Ortberg has spoken with President-elect Donald Trump about the impact of potential tariffs on Boeing. Ortberg told staff that a potential trade war with China might impact the company's plane exports to Chinese airlines.

Persons: Kelly Ortberg, Ortberg, Donald Trump Organizations: Airbus, WSJ, Boeing, Business Insider, Trump, Seattle Times, Society of Professional Engineering Employees, Aerospace, . Aviation, Avia Solutions, Max Locations: Boeing's hourlong, China, Washington, Oregon

☆ Adani investor GQG Partners' shares crash 25% — on pace for record loss after Gautam Adani's indictment
▼ + stars: | 2024-11-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Rajiv Jain, founder and chief investment officer of GQG Partners, during an interview in New York, US, on Tuesday, April 4, 2023. Shares of Australia-listed GQG Partners plunged as much as 25% on Thursday and were set to post their worst day on record, after Adani Group Chair Gautam Adani was charged with fraud in New York. Shares of Adani Group companies also nosedived, as Indian stock markets opened for trade. GQG is Adani Enterprises' fourth-largest shareholder, owning about 3.94% of the firm, according to LSEG data. Hindenburg had charged Adani Group of "brazen stock manipulation and accounting fraud scheme over the course of decades," sending shares plunging by more than 54% in the first quarter of 2023.

Persons: Rajiv Jain, Gautam Adani, GQG, Adani, Hindenburg Organizations: GQG Partners, Adani Group, BSE, Adani Enterprises, CNBC, Adani, Hindenburg Locations: New York, New

☆ CNBC Daily Open: Is Nvidia its own worst enemy?
▼ + stars: | 2024-11-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Akio Kon | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Investors are likely zooming in on the rate at which Nvidia is growing its numbers, compared with its past performance, not just whether it's surpassing expectations. The same goes for Nvidia's forward guidance: A growth of around 70% for current-quarter sales, compared with a year earlier. It appears that investors have enjoyed Nvidia's astounding performance for so long they've become desensitized to it.

Persons: Jensen Huang, Akio Kon, LSEG, University's, Leswing, Samantha Subin, Brian Evans Organizations: Nvidia Corp, Nvidia, Summit Japan, Bloomberg, Getty, CNBC, Investors, University's Stern School of Business Locations: Tokyo, Japan, New

☆ Oil prices firm as geopolitical tensions raise supply concerns
▼ + stars: | 2024-11-21 | by ( ) www.cnbc.com time to read: +2 min

A pump jack at an oil lot connected to the Petroleos del Peru SA Talara refinery in Piura, Peru, on Wednesday, Dec. 13, 2023. Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine. Gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw. Adding to supply, Norway's Equinor said it had restored full output capacity at the Johan Sverdrup oilfield in the North Sea following a power outage. However, a slowdown in Chinese and global demand, coupled with rising output outside the group, have potentially thwarted this plan.

Persons: Norway's Equinor, Johan Sverdrup Organizations: del, del Peru SA Talara, Brent, . West Texas, Storm, ATACMS, Energy Information Administration, Organization of, Petroleum Locations: del Peru, Piura, Peru, Russia, Ukraine, Moscow, Kyiv, OPEC

☆ HSBC names 3 'underappreciated' Asian stocks to watch in 2025 — giving one 63% upside potential
▼ + stars: | 2024-11-21 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Meituan HSBC is bullish on Meituan and has a target price of 220 Hong Kong dollars ($28.30) on the stock, giving it 25.8% upside potential. "Despite the macro challenges, Meituan's growth profile remains resilient," said Charlene Liu, HSBC Global Research's head of internet and gaming research for Asia-Pacific. Calling it a "best-in-class small-cap" idea, HSBC Global Research's India health-care analyst Damayanti Kerai believes it is "well positioned to sustain healthy growth." Kia's shares have been on an uptrend, gaining around 8% in the last five days. HSBC has a target price of 160,000 Korean Won ($114.80) on the stock, implying nearly 63.1% upside potential.

Persons: Charlene Liu, Liu, Damayanti Kerai, Kerai, Will Cho, Cho, — CNBC's Michael Bloom Organizations: HSBC, Hong, HSBC Global Research's, Morningstar, Hong Kong Exchange, Krishna, Medical Sciences, Bombay Stock Exchanges, Kia, Korea Exchange, Won Locations: Asia, Hong Kong, U.S, HSBC Global Research's India, Korean, HSBC Global Research's Korea, EU

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