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Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. "There are so many other things, you know, growth in China, what is happening in Europe, growth in Europe … what is happening in the U.S. economy, such as interest rate, inflation," the Saudi energy minister said Friday. "Another delay, which we would not rule out, would leave the market broadly in balance next year," they said. Demand has been at the forefront of OPEC+ considerations, with the OPEC's November Monthly Oil Market Report seeing 1.54 million barrels-per-day of year-on-year growth in 2025. The Paris-based International Energy Agency, meanwhile, last month forecast that world oil demand will expand by 920,000 barrels per day this year and just under 1 million barrels per day in 2025.
Persons: Abdulaziz bin Salman, CNBC's Dan Murphy, Donald Trump — Organizations: Saudi Energy, Barclays, Bloomberg, Getty, HSBC, OPEC, International Energy Agency Locations: OPEC, U.S, Saudi, China, Iran, Europe, Paris
France's Prime Minister Michel Barnier (C) looks on during a session of questions to the government at The National Assembly in Paris, on December 3, 2024. The French government has been toppled in a vote of no confidence Wednesday, plunging the euro zone's second-largest economy into a period of deep political uncertainty. Either motion needed the support of at least 288 deputies, out of 574 deputies in the National Assembly, to see the no-confidence vote succeed. Combined, the far-right bloc and leftwing alliance have roughly 333 lawmakers in Parliament, although some lawmakers had been expected to abstain from the vote. He said it had "been an honor" to serve as prime minister, before receiving a standing ovation from French politicians.
Persons: Michel Barnier, Barnier, Emmanuel Macron Organizations: France's, The National Assembly, Front, National, National Assembly Locations: Paris, France's Fifth Republic
AdvertisementChina's defense minister, Dong Jun, is being probed for corruption, the FT reported on Wednesday. Xi Jinping and his leaders likely took at least two months to select, vet, and announce Dong in 2023. Less than a year into his post, China's defense minister is now being placed under investigation for graft, according to a new report by The Financial Times. AdvertisementWhen asked about reports of an investigation into Dong, Chinese Foreign Ministry spokesperson Mao Ning curtly dismissed them as rumors. AdvertisementChina's defense minister doesn't typically have operational command of combat forces but is instead a diplomatic and public-facing figure representing the military.
Persons: Dong Jun, Xi Jinping, Dong, Adm, Li Shangfu, Li, Wei Fenghe, Wei, Lloyd Austin, Mao Ning curtly, Xi, Dong's, doesn't Organizations: The Financial Times, People's Liberation Army, PLA Rocket Force, Chinese Communist Party, US, Foreign Ministry, Chinese Foreign Ministry, Business, Dong, Reuters, Central Military Commission, PLA Locations: Laos, Dong, China
He said that the US "will quit" the war and there's a "military defeat in Ukraine," per reports. AdvertisementHungary's leader, Viktor Orbán, has a chilling forecast: the US will abandon Ukraine under President-elect Donald Trump. Orbán's forecast comes as world leaders hold key meetings this week, in part to discuss the war in Ukraine. European leaders are convening at a European Council summit in Budapest on Friday, where they are expected to discuss security and geopolitics in Ukraine. Orbán was among the first European leaders to congratulate Trump on his victory.
Persons: Viktor Orbán, , Donald Trump, Vladimir Putin's, Trump, Kamala Harris, Keith Kellogg, Fred Fleitz, Orbán, Axel Springer, Volodymyr Zelenskyy Organizations: Trump's, Service, Reuters, European Union, Trump, White, NATO, Street, National Security, Political Locations: Ukraine, Russia, Budapest, Europe
“A political pyromaniac who must be put before a criminal court,” Jean Asselborn, then-foreign minister for Luxembourg, said of Trump after the Jan. 6, 2021, Capitol riot. "Trump has ruined it all," Croatian President Zoran Milanović said, also in 2021. Following Trump’s election victory, at least two of these U.S. allies, the U.K. and Australia, have had to dial back some of their previous attacks. U.K. Foreign Secretary David Lammy in September. Charles Parton, who served as a British diplomat for almost four decades, said that “the Labour Party has got some grounds to make up” after a perception that Starmer's party had favored the Democrats.
Persons: Donald Trump's, Kevin Rudd, Trump, , ” David Lammy, ” Jean Asselborn, Zoran Milanović, Rudd, , won’t, David Lammy, Neil Hall, government’s, Trump’s, Harris, Keir Starmer, Charles Parton, Parton, Nigel Farage Organizations: Capitol, Australian Government, Foreign, Bloomberg, Getty, , U.S, Relations, Labour Party, Trump, Federal, Commission, Labour, Democrats Locations: U.S, Luxembourg, Australia, United States, British
The Israeli prime minister was engulfed in scandal Monday over a case involving one of his aides that has sent shockwaves across the country. The firestorm — brought into public view when an Israeli court loosened a gag order Sunday night — has enraged Netanyahu's political opponents and hostage families. Palestinians fill containers with clean water in the midst of the devastation in Beit Lahia, northern Gaza on Sunday. The Israeli leader faced mounting outrage from hostage families and much of the country's public over his failure to agree to a cease-fire deal. Prime Minister of Israel Benjamin Netanyahu during the United Nations General Assembly in New York on Sept. 27.
Persons: Benjamin Netanyahu, , Netanyahu, Shin, Eliezer Feldstein, Feldstein, Israel Benjamin Netanyahu, Pamela Smith, Benny Gantz, it’s, Yair Lapid, Lapid Organizations: Rishon, Zion, Israel Defense Forces, Israel Security Agency, AFP, Getty, NBC, Chronicle, Jewish, NBC News, Military Intelligence Directorate, United Nations General Assembly, AP Locations: Gaza, Beit Lahia, London, Egypt, Israel, Philadelphi, New York, Netanyahu's
A drone strike was launched towards Israeli Prime Minister Benjamin Netanyahu's house in the town of Caesarea, north of Tel Aviv, on Saturday morning, according to the Israeli Prime Minister's office. The Israel Defense Forces said a drone crossing from Lebanon "hit a structure in the area of Caesarea," while Israeli news outlet Ynet reported the sound of an explosion in the town. Israeli security forces secure a road near Israeli Prime Minister Benjamin Netanyahu's house in Caesarea, Israel, on Saturday morning. Ariel Schalit / APThe attack comes just days after Israel killed Hamas leader Yahya Sinwar during a military operation in the Gaza Strip. Following the confirmation of Sinwar's death, Hezbollah, the Iran-backed militant group and Hamas ally in Lebanon, vowed to escalate fighting against Israel.
Persons: Benjamin Netanyahu's, Netanyahu, Ariel Schalit, Israel, Yahya Sinwar, Sinwar, Sinwar's Organizations: Israeli, Israel Defense Forces, IDF, Israel Locations: Caesarea, Tel Aviv, Lebanon, Israel, Gaza, Iran
Sirens wailed Saturday morning in Israel, warning of incoming fire from Lebanon, including a drone launched toward Israeli Prime Minister Benjamin Netanyahu's house in Caesarea, the Israeli government said. Meanwhile, in Gaza, more than 50 people, including children, have been killed in several Israeli strikes, in less than 24 hours, according to hospital officials and an Associated Press reporter. Israel's emergency services said a 50-year-old man was killed after being hit by shrapnel while sitting in his car in northern Israel. At Al-Awda hospital in Jabaliya, in northern Gaza, strikes hit the building's top floors, injuring several staff members, the hospital said in a statement. The strikes knocked out internet networks in northern Gaza, said Paltel, the Palestinian communications company, on Facebook Saturday.
Persons: Benjamin Netanyahu, Mike Segar, Benjamin Netanyahu's, Yemen's, Hezbollah —, Iran —, Hassan Nasrallah, Israel, Bint Jbeil, Nasser Rashid, Yahya Sinwar, Iran's, Ayatollah Ali Khamenei, Khamenei, Sinwar's, Netanyahu, Sinwar, Abu Hamza, Paltel Organizations: Israel's, United Nations General Assembly, Reuters, Israel, Israeli, Associated Press, Hezbollah, Hamas, Palestinian Health Ministry, Indonesian, Aqsa Martyrs Hospital, Facebook Locations: U.N, New York, U.S, Israel, Lebanon, Caesarea, Gaza, Ben Gurion, Iran, Bint, Beirut, rearming, Beit Lahiya, Al, Jabaliya, Zawayda, Aqsa, Deir al, Palestinian
An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York on March 28, 2024. LONDON — U.S. pharmaceutical giant Eli Lilly is exploring whether obesity drugs could be used to curb joblessness after signing a major investment deal with the U.K. The use cases for obesity drugs have been growing over recent months, with several drug regulators expanding GLP-1 drug labels for use in treating obesity-related comorbidities and other illnesses. Speaking to CNBC last week, Citi pharmaceuticals analyst Peter Verdault said the body of evidence to support increased use of weight-loss drugs "keeps coming." The company said it anticipates making an additional £279 million of new investment into the U.K. over the coming years.
Persons: Eli Lilly, Zepbound, Rachel Batterham, Lilly, Wes Streeting, Covid, Streeting, Peter Verdault, Dolly van Tulleken, Eli Lilly's Organizations: LONDON, U.K, Department of Health, Social, Department for Science, Innovation, Technology, Labour government's, Investment, National Health Services, Health Innovation, International Medical, Social Care, CNBC, Citi, MRC, University of Cambridge, BBC Radio, Lilly Locations: Brooklyn, New York, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS' Thomas Fang and The Smart Investor's David Kuo debate China's stimulus promisesDavid Kuo from The Smart Investor and Thomas Fang, Head of China global markets at UBS discuss the Chinese Finance Minister's press conference on the highly anticipated fiscal stimulus and its impact on the country's struggling housing market.
Persons: Thomas Fang, David Kuo Organizations: UBS, Smart Investor, Finance Locations: China
Hedge funds that recently flocked into Chinese stocks on stimulus hopes just did a 180. The net selling was 1.4 times larger than the previous record, Goldman said. "As NDRC underwhelmed, hedge funds rapidly sold off Chinese equities," Goldman strategists said in a note to clients on Wednesday. "Hedge funds not only unwound their long positions but added shorts to their books as well, with long sells being double the amount of short sells." Hedge funds had only just piled into the developing market at a record pace one week before , as Beijing's rare stimulus blitz unleashed newfound optimism.
Persons: Goldman Sachs, Goldman, David Tepper, Mehran Nakhjavani Organizations: National Development, Appaloosa Management, CNBC, China's CSI, MRB Partners Locations: China
UK PM Starmer's chief of staff quits after talk of in-fighting
  + stars: | 2024-10-07 | by ( ) www.cnbc.com   time to read: +1 min
British Prime Minister Keir Starmer reacts as he meets with Defence Secretary John Healey and Member of the House of Lords George Robertson at 10 Downing Street on July 16, 2024 in London, England. British Prime Minister Keir Starmer's chief of staff Sue Gray resigned on Sunday following rumors about tensions within his team of advisers that cast a shadow over his government little more than three months after a landslide election victory. Starmer led the Labour Party to a sweeping victory in July, promising discipline and change after 14 years of Conservative Party rule. But his time in office has already been dogged by criticism of free gifts from wealthy donors that he and other Labour politicians received. Gray will take up a new post as Starmer's envoy for the regions and nations, the prime minister's office said.
Persons: Keir Starmer, John Healey, George Robertson, Keir Starmer's, Sue Gray, Gray, Starmer Organizations: British, Defence, Downing, Labour Party, Conservative Party, Labour Locations: London, England, British, Downing
TOKYO, JAPAN - OCTOBER 1: Japan's new Prime Minister Shigeru Ishiba attends a press conference at the prime minister's office on October 1, 2024 in Tokyo, Japan. Japanese Prime Minister Shigeru Ishiba said he has asked ministers to formulate an economic relief package to ease the bite of inflation. The support measures would include subsidies to low-income households and significantly larger grants to local governments, Ishiba said in the speech. On Monday, just three days after being elected as head of Japan's ruling party, the new prime minister set the date for the snap election. During his speech, gains in Japan's Nikkei 225 narrowed to 0.09% while the broad-based Topix was up 0.36%.
Persons: Shigeru Ishiba, Ishiba, Topix Organizations: Reuters, Local, Japan's Nikkei, U.S . Locations: TOKYO, JAPAN, Tokyo, Japan, Japanese, Japan's
Despite dovish comments from Japanese Prime Minister Shigeru Ishiba leading to a sharp plunge in the yen , market analysts aren't budging from their Bank of Japan policy expectations for the longer term. The yen slid to as weak as 147.15 against the U.S. dollar on Wednesday, after Ishiba told reporters that the current economic climate does not require an additional rate increase. The prime minister's comments marked a drastic change in tone compared with the messaging on his recent campaign trail. On Thursday morning, BOJ board member Asahi Noguchi said that the central bank should continue its accommodative monetary policy for the time being. He noted that it will take a while to change the public's perception that prices will not increase significantly in the future.
Persons: Shigeru Ishiba, aren't budging, Ishiba, Kazuo Ueda —, Abe Shinzo's, Stefan Angrick, Angrick, Asahi Noguchi Organizations: Bank of, U.S, Bank of Japan, Liberal Democratic Party, Moody's, CNBC Locations: Bank of Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExcess OPEC capacity keeping oil prices from spiking after Iran attack, says CIBC's Rebecca BabinRebecca Babin, CIBC Private Wealth senior energy trader, joins 'Squawk Box' to discuss oil price trends, impact of Iran's ballistic missile attack on Israel, Saudi oil minister's warning to fellow OPEC members, and more.
Persons: CIBC's Rebecca Babin Rebecca Babin Organizations: CIBC Private Wealth Locations: Iran, Israel, Saudi
Saudi Arabia's oil minister says crude prices could fall as low as $50 per barrel. AdvertisementSaudi Arabia's oil minister says oil prices could fall as low as $50 per barrel if OPEC+ keeps overproducing, according to a Wall Street Journal report. $50 per barrel oil would drag Brent crude, the international benchmark, down 33% from current levels. The Saudi minister called out Iraq, which surpassed its quota by 400,000 barrels per day in August, according to S&P Global Ratings data. The OPEC leader caused prices to fall below $10 per barrel in 1986 after boosting output to penalize other producers.
Persons: , Prince Abdulaziz bin, Brent, That's Organizations: Service, Wall, Financial Times, OPEC Locations: Saudi, Lebanon, Iran, Kazakhstan, Riyadh, Iraq, Saudi Arabia, OPEC
Israel launched a "limited" ground offensive in Lebanon after killing a top Hezbollah leader in airstrikes. Foreign policy experts said Israeli Prime Minister Benjamin Netanyahu and the US don't see each other as reliable partners. The ground offensive came after a series of airstrikes on September 27 that killed Hezbollah's longtime chief, Hassan Nasrallah, a major victory for Israeli Prime Minister Benjamin Netanyahu. AdvertisementHe added that the prime minister may also consider the US an unreliable partner. AdvertisementRepresentatives for the State Department and the Israeli prime minister's office did not respond to requests for comment from Business Insider.
Persons: Israel, Benjamin Netanyahu, , Hezbollah's, Hassan Nasrallah, Netanyahu, Israel's, Chuck Freilich, Barack Obama's, Benjamin Radd, Joe Biden's, Radd, Donald Trump, Biden weren't, Sean McFate, Bibi, McFate, Nasrallah, Biden Organizations: Service, Israel Defense Forces, Israeli, Hamas, Columbia University, UCLA Center for Middle East Development, Syracuse University, Reuters, State Department, Business Locations: Lebanon, Iran, Israel, Gaza, America, Rafah
Israel launched a "limited" ground offensive in Lebanon after killing a top Hezbollah leader in airstrikes. Foreign policy experts said Israeli Prime Minister Benjamin Netanyahu and the US don't see each other as reliable partners. The ground offensive came after a series of airstrikes on September 27 that killed Hezbollah's longtime chief, Hassan Nasrallah, a major victory for Israeli Prime Minister Benjamin Netanyahu. AdvertisementHe added that the prime minister may also consider the US an unreliable partner. AdvertisementRepresentatives for the State Department and the Israeli prime minister's office did not respond to requests for comment from Business Insider.
Persons: Israel, Benjamin Netanyahu, , Hezbollah's, Hassan Nasrallah, Netanyahu, Israel's, Chuck Freilich, Barack Obama's, Benjamin Radd, Joe Biden's, Radd, Donald Trump, Biden weren't, Sean McFate, Bibi, McFate, Nasrallah, Biden Organizations: Service, Israel Defense Forces, Israeli, Hamas, Columbia University, UCLA Center for Middle East Development, Syracuse University, Reuters, State Department, Business Locations: Lebanon, Iran, Israel, Gaza, America, Rafah
An aide to the Hungarian PM was criticized after suggesting Hungary wouldn't have resisted a Russian invasion. He referred back to a 1956 uprising in Budapest, which the Soviet Union brutally repressed. He said it was "irresponsible" to resist, citing the number of dead in the Ukraine war. He said this was because Hungary had tried and failed to resist the Soviet Union in 1956. Viktor Orbán is Russian President Vladimir Putin's closest ally in the European Union, a position that has put him strongly out of favor in the bloc.
Persons: Hungary wouldn't, , Viktor Orbán, Balázs Orbán, Zelenskyy, Hungary —, Vladimir Putin's, Donald Trump, Putin, Trump Organizations: PM, Soviet Union, Service, Politico, European Union, Fidesz Locations: Hungary, Russian, Budapest, Ukraine, Hungarian, Soviet Union, Russia
Prime Minister Sir Keir Starmer during an 'In Conversation' event with Debbie Weinstein, managing Director Goole UK&I during the Labour Party Conference at the ACC Liverpool. Liverpool, ENGLAND — U.K. Prime Minister Keir Starmer insisted on Tuesday that tough decisions taken now will spark a new era for Britain, as he sought to shake a fog of pessimism that has clouded his new premiership. "Change must mean nothing less than national renewal," he told a crowd of Labour Party delegates Tuesday. Wes Streeting, minister for health and social care, said that promised improvements to the U.K.'s National Health Service (NHS) would take time to implement. We need to rebuild the economy, rebuild public services and rebuild trust in politics," he said at the conference Monday.
Persons: Sir Keir Starmer, Debbie Weinstein, Keir Starmer, Starmer, Jeremy Corbyn, Rachel Reeves, Reeves, Wes Streeting, Tulip Siddiq Organizations: Goole, Labour Party Conference, ACC Liverpool, Labour Party, Conservative, Wealth Fund, Finance, National Health Service, Treasury, Labour, CNBC, Conservative Party Locations: Liverpool, ENGLAND, Britain, England
Israel has a new war goal, adding to mounting signs that the conflict could soon expand to the country's north as it warned the U.S. that “military action” would likely be the only way to addressing mounting hostilities with Iran-backed militant group Hezbollah. "Israel will continue to act to implement this objective," the prime minister's office said. Noam Galai / Getty Images fileIt added that the defense minister and a number of other senior Israel Defense Forces officials "presented the IDF's operations against Hezbollah forces" to Hochstein. The U.S. and others have voiced fears that an expanded military operation from its ally could spark a broader regional war. But the prime minister’s office told NBC News in a statement on Monday that reports of any negotiations with Sa’ar were “not correct.”
Persons: Benjamin Netanyahu's, Amos Hochstein, Joe Biden, Yoav Gallant, Gallant, Noam Galai, swirled, Netanyahu, Gideon Sa’ar, Sa’ar, Organizations: U.S, Hezbollah, Israeli, Israel Defense Forces, New, NBC News Locations: Israel, Iran, Israel's, Lebanon, Gaza, U.S
Japan's Environment Minister Shinjiro Koizumi delivers a speech during a press conference at the prime minister's office in Tokyo on September 17, 2020. Charly Triballeau | AFP | Getty ImagesJapan's ruling Liberal Democratic Party is set to elect a new leader in September and, by extension, the country's next prime minister. Along with 49-year-old Takayuki Kobayashi, who has already announced his candidacy, the two contenders are seen as the choices for generational change in the party election. Nishimura said Koizumi stands a good chance of gaining votes from both LDP Diet members as well as rank-and-file members across Japan. The winner of the LDP election will need to secure a majority of the vote.
Persons: Shinjiro Koizumi, Charly Triballeau, Junichiro Koizumi, Takayuki Kobayashi, Koizumi, Rintaro Nishimura, Nishimura, getters Organizations: AFP, Getty, Liberal Democratic Party, The Asia Group, Diet Locations: Tokyo, Fukushima, Japan
Elon Musk is "the one person who is accountable to no one" and his impact on public discourse should not be underestimated, the U.K.'s technology minister said in an interview with the Times newspaper, adding to recent criticisms of the technology billionaire from senior government officials. Peter Kyle, secretary of science, innovation and technology, said in the interview, which was published Wednesday, that Musk has the power to influence major world affairs — even the war between Russia and Ukraine. Kyle added that the relationship Britain has with companies such as X and other major social media firms, "is much more akin to the negotiations with fellow secretaries of state in other countries, simply because of the scale and scope that they have." His comments, which were made before the recent riots in the U.K., follow Sunday's controversial remarks from Musk about British affairs. On Monday, the British prime minister's official spokesperson said there was "no justification" for comments like those made by X's owner and chairman.
Persons: Elon Musk, Peter Kyle, Musk, , Kyle Organizations: Times Locations: Russia, Ukraine, Britain
Fires burn outside the Prime Minister's House after Sheikh Hasina resigned and fled the country, on August 5, 2024 in Dhaka, Bangladesh. Protesters shout slogans as they celebrate Prime Minister Sheikh Hasina's resignation in Dhaka. Other student protesters and those arrested on “false cases,” were also released, the president said. K M Asad/AFP/Getty ImagesWhile Hasina’s resignation was celebrated, some Bangladeshis expressed trepidation over the path ahead as the country attempts to fill a leadership vacuum. “Hasina may be gone, but there is still a long road ahead for Bangladesh,” student Faiza Chowdhury, 25, told CNN.
Persons: Sheikh Hasina, Zaman, Muhammad Yunus, Hasina, Minister's, Parvez Ahmad Rony, Sheikh Mujibur Rahman, Hasina’s, Sheikh Hasina's, Mujibur Rahman –, , Raiyan Aftab, , Shaheed, Shaheed Minar, Aftab, Abu Sufian, Mohammed Shahabuddin, Khaleda Zia –, , Wolfgang Rattay, Z, Sabrina Karim, Karim, , Mohammad Ponir Hossain, Muhammad Nahid Islam, hadn’t, Yunus, K M Asad, Faiza Chowdhury Organizations: CNN, Bangladesh, Dhaka, Yunus, Dhaka University, Awami League, , BRAC University, Dhaka Medical College, Dhaka University Campus, Getty, Reuters, curfews, Cornell University Locations: Dhaka, Bangladesh, India, Pakistan, Rajib Dhar, Munich, Germany, UN, Paris, , AFP, Bangladeshi, New York
Taiwan President Lai Ching-te claps while he visits a military camp in Taoyuan, Taiwan May 23, 2024. While Biden has, on several occasions, stated the U.S. would come to Taiwan's defense, Trump has opted for "strategic ambiguity," Naggy added. According to analysts, she is expected to remain somewhat consistent with Biden's agenda and foreign policy. As vice president, Harris has expressed support for Taiwan and met with the island's new leader, Lai Ching-te, in 2022. However, she would come into office with significantly less foreign policy experience than President Biden.
Persons: Lai Ching, Ann Wang, Lin Chia, Donald Trump, Trump, Trump's, Joe Biden, Kamala Harris, Biden, Stephen Naggy, Naggy, Xi Jinping, Lu, Chung Weng, Muhammad Faizal, Richard Heydarian, Harris, Tina Fordham, CNBC's, Dewardric McNeal, McNeal, Lai, Ava Shen, Tsai Ing Organizations: Reuters, International Christian University, Sam Houston State University, Rajaratnam, of International Studies, Trump, CNBC, University of the, Fordham Global Foresight, Longview Global, Biden, Eurasia Group, Democratic Progressive Party Locations: Taiwan, Taoyuan, Reuters Taiwan, China, Taipei, Tokyo, Japan, U.S, Singapore, University of the Philippines, Beijing, Washington
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