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☆ The government is getting fed up with ransomware payments fueling endless cycle of cyberattacks
▼ + stars: | 2024-10-18 | by ( Barbara Booth | ) www.cnbc.com time to read: +7 min

Zeroing in on cyber insurance as a key area for reform comes as the U.S. government scrambles to find ways to disrupt ransomware networks. For many organizations, deciding whether to pay a ransom is a difficult and urgent decision. The hacker group allegedly demanded a ransom to return the stolen data, though it remains unclear whether NPD paid it. Darren Williams, founder of BlackFog, a cybersecurity firm that specializes in ransomware prevention and cyber warfare, is firmly against paying ransoms. UnitedHealth Group experienced this firsthand after its subsidiary, Change Healthcare, was hit by the ALPHV/BlackCat ransom group in April 2023.

Persons: Anne Neuberger, James S, Ann Neuberger, scrambles, Paul Underwood, Underwood, Bryan Hornung, Hornung, I've, they'd, —, Ransom, LVHN, Darren Williams, BlackCat, LoanDepot Organizations: Brady, White, Washington , D.C, National Intelligence, FBI, Xact IT, Social, Lehigh Valley Health, Federal Trade Commission, NPD, Jerico, UnitedHealth Group, Change, Healthcare, LoanDepot Locations: Washington ,, what's, Pennsylvania, U.S

☆ Mexico ex-drug czar sentenced to more than 38 years in U.S. prison over cartel bribes
▼ + stars: | 2024-10-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

Genaro Garcia Luna, who for several years led Mexico’s fight against the country’s violent drug trade, was sentenced on Wednesday to more than 38 years in U.S. prison for accepting bribes from the cartels he was supposed to fight. In announcing the 460-month sentence, Cogan said Garcia Luna should have “some light at the end of the tunnel,” crediting him for his work teaching fellow inmates at Brooklyn’s Metropolitan Detention Center. But the judge said Garcia Luna lived a “double life,” with the harm he caused outweighing his good deeds. Garcia Luna served as Mexico’s public security minister from 2006 to 2012. Before learning the sentence, Garcia Luna said in court that Mexico’s government and criminal groups had smeared him.

Persons: Genaro Garcia Luna, Mexico’s, Brian Cogan, Prosecutors, Garcia Luna, Joaquin Guzman Loera, El, Cogan, outweighing, ” Cogan, Cesar de Castro, “, ”, ” Guzman Organizations: U.S, District, Brooklyn’s Metropolitan Detention, Sinaloa Locations: Brooklyn, Sinaloa, Brooklyn’s, Colorado

☆ With tech stocks on the sale rack, here are levels to buy Meta and 3 other megacaps
▼ + stars: | 2024-09-05 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

However, given that September has historically been the worst month of the year for the market, we're layering in some technical analysis to identify some buy levels. We published our prior buy levels analysis on June 26. Clearly, we should have been a bit more conservative in our buy levels, however, in our defense shares only traded below $162 for two days. However, we must be mindful that a move there would once again mean we've broken below the 200-day moving average. Below that and we're looking for the 200-day moving average to hold at around $89 apiece.

Persons: we're, we've, that's, wouldn't, Jim Cramer's, Jim Cramer, Jim, Mark Zuckerberg, Emily Chang, Jason Henry Organizations: Microsoft, Nvidia, Club, CNBC, Meta, Inc, Bloomberg, Getty Locations: Menlo Park , California

☆ Maker of Jeep and Dodge plans to kill chrome on cars, citing risks to those who make it
▼ + stars: | 2024-06-14 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

Southern California boasts the highest concentration of chrome plating shops in America and regulators in that state have been requiring those methods for years. But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods. In 2019, green slime oozing out onto a highway near Detroit was found to be hexavalent chromium leaking from a nearby business. “We are also using light as the new chrome,” VW said in a statement shared with CNN. “Chrome peaked in the ’50s with the big American land yachts and stuff with giant chrome bumpers and giant chrome grills.

Persons: CNN —, It’s, ”, Leslie Kendall, Stellantis, it’s, Ralph Gilles, Gilles, Christian Richter, “, ” Gilles, ‘, ’, Bentley –, VW, Peter Valdes, Petersen, Kendall, we’ve Organizations: CNN, Petersen Automotive Museum, Fiat, Maserati, California Air Resources Board, Chrysler, Occupational Safety, Health Administration, National Association, EPA, OSHA, Chrysler Pacifica, Chrysler Pacifica Limited, Volkswagen, VW Group, Audi, Bentley, VW, “ Locations: Los Angeles, United States, Europe, Southern California, America, California, Detroit, Michigan, NASF

☆ Biden’s trade chief walks back comments contradicting Biden on tariffs and inflation
▼ + stars: | 2024-05-16 | by ( Matt Egan | Kayla Tausche | ) edition.cnn.com time to read: +8 min

Research shows that former President Donald Trump’s tariffs on China did indeed raise prices on consumers and businesses — despite his claims otherwise. The study found tariffs imposed by former President Donald Trump did not meaningfully contribute to inflation. “The new Biden tariffs, like the more extensive ones that Trump has promised, will worsen US inflation. It is fair to debate how much the Biden tariffs will impact inflation because they are not nearly as widespread as what Trump imposed and what Trump is promising if he’s reelected. Trump enacted sweeping tariffs on $300 billion in Chinese imports, setting off a trade war between the world’s two biggest economies.

Persons: Katherine Tai, Joe Biden’s, ” Tai, —, Donald Trump’s, Tai, Angela Perez, Donald Trump, Goldman Sachs, Tai’s, “ Trump, ” Biden, “, Alex Durante, Tai’s “, Maury Obstfeld, Biden, ”, Trump, he’s, ” Perez, White, Morgan, Daleep Singh, Jen Psaki, Jared Polis, ” Polis, Ed Mills, Raymond James, David Kelly, ” Kelly Organizations: New, New York CNN, US, White, Research, CNN, US International Trade Commission, “, China, Tax, Obama, Peterson Institute for International Economics, Biden, Atlantic Council, Bretton, Committee, ”, Colorado Gov, Republicans, Asset Management Locations: New York, China, Ukraine, EVs, Europe

☆ Dollar droops to one-month low vs euro before key CPI test
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, the new £10 note is seen alongside euro notes and U.S. dollar bills on Oct. 13, 2017 in Bath, England. The euro edged up 0.03% to $1.0823 in Asian trading hours, and earlier rose to $1.0828 for the first time since April 10. The dollar edged back 0.12% to 156.245 yen on Wednesday, but had pushed as high as 156.80 overnight. The dollar dropped 0.24% to 7.2232 yuan in offshore trading, after reaching the highest since May 1 at 7.2460 overnight. The New Zealand dollar climbed 0.37% to $0.6062, and earlier touched $0.6064 for the first time since April 10.

Persons: Alan Ruskin, Jerome Powell, Tony Sycamore, Joe Biden's Organizations: Reserve, U.S, Treasury, Deutsche Bank, Bank of Japan, CPI, IG, Australian, New Zealand Locations: Bath, England, U.S, China

☆ The new class war: A wealth gap between millennials
▼ + stars: | 2024-04-26 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

The wealth gap between rich millennials and the rest of their age group is the largest of any generation, creating a new wave of class tension and resentment, according to a recent study. According to the study, the average millennial has 30% less wealth at the age of 35 than baby boomers did at the same age. Yet the top 10% of millennials have 20% more wealth than the top baby boomers at the same age. The study finds that millennials — typically defined as those between the age of 28 and 43 today — have faced repeated financial headwinds. The millennials who "went to college, found graduate level jobs, and started families relatively late," ended up with "higher levels of wealth than Baby Boomers with similar life trajectories," according to the report.

Persons: Robert Frank, Rob Gruijters, Zachary Van Winkle, Anette Eva Fasang, Mark Zuckerberg, Sam Altman — Organizations: Boomers

☆ How Trump’s tariff plans could kill jobs and worsen inflation
▼ + stars: | 2024-04-11 | by ( Matt Egan | ) edition.cnn.com time to read: +10 min

Trump has floated a 10% across-the-board tariff on imports, a 60% tariff on imports from China and a 100% tariff on foreign cars – including from Mexico. Trump’s proposals, if enacted, could easily set off a new trade war with China and potentially other nations, too. Some economists are warning Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors. It’s hard to say exactly because there is a lot of uncertainty over how much of Trump’s proposed agenda would actually be enacted. That’s because tariffs tax imports when they come ashore, adding costs for US distributors, retailers and, ultimately consumers.

Persons: he’s, Donald Trump, Trump, ” Alex Durante, Trump’s, ”, Mark Zandi, Goldman Sachs, ” Goldman Sachs, Jan Hatzius, ” Goldman, Janet Yellen, Joe Biden’s, Karoline Leavitt, ” “, ” Leavitt, “, Biden, “ Donald Trump, ” Biden, James Singer, Biden’s, That’s, Durante, Joe Brusuelas, don’t, ” Brusuelas, Brusuelas, Liz, Maury Obstfeld, Obstfeld, Obama, ” Durante Organizations: New, New York CNN —, Tax Foundation, CNN, Trump, China, Bureau of Labor Statistics, Federal Reserve, RSM, Target, Walmart, Peterson Institute for International Economics, International Monetary Fund, US International Trade Commission, “, Obama Locations: New York, China, Mexico, Beijing, United States

☆ I built a 296-square-foot backyard tiny home in Atlanta: What to know if you want to convert a $5,000 shed from Costco
▼ + stars: | 2024-03-28 | by ( Precious Price | ) www.cnbc.com time to read: +4 min

It took Precious Price eight months and $35,000 to convert a 12-by-24-food shed into a tiny home in her backyard in Atlanta. Try hitting Ctrl + F to look for the terms "accessory dwelling unit" or "guest house" in your zoning code. Plumbing and electricity aren't a givenShed options typically aren't equipped with essential utilities like plumbing and electrical systems. If you want a floor with that Costco shed, you're already up to $6,000, even with the sale. And the interior build-out adds up with insulation, drywall, plumbing, electrical wiring, and furnishings.

Persons: Precious Price, Jeffrey Beard, I've Organizations: Costco, CNBC Locations: Atlanta

☆ At least 16 cemeteries in Gaza have been desecrated by Israeli forces, satellite imagery and videos reveal
▼ + stars: | 2024-01-20 | by ( Jeremy Diamond | ) edition.cnn.com time to read: +12 min

Tel Aviv CNN —The Israeli military has desecrated at least 16 cemeteries in its ground offensive in Gaza, a CNN investigation has found, leaving gravestones ruined, soil upturned, and, in some cases, bodies unearthed. CNN’s analysis of satellite imagery and videos showed that Israeli bulldozers turned multiple cemeteries into staging grounds, leveling large swaths and erecting berms to fortify their positions. In the Shajaiya neighborhood of Gaza City, Israeli military vehicles could be seen where the cemetery once stood, with berms surrounding them on all sides. ‘I couldn’t find her grave’Munther al Hayek’s daughter Dina was killed in the 2014 Gaza war. “The occupation forces destroyed and bulldozed them,” Hayek, a spokesman for the Palestinian opposition group Fatah in Gaza, told CNN.

Persons: Khan Younis, Jehad, “, ”, PlanetLabs, Bani, Al, Graves, Al Nasser, Israel, al, Dina, ” Hayek, Fatah, ” Mosab Abu Toha, Abu Toha, ” Munther al Hayek, ” Janina Dill, Dill, ” Dill, ” Muna Haddad, Muna Haddad Organizations: Tel, Tel Aviv CNN, CNN, Israel Defense Forces, Al Nasser Hospital, Getty, Maxar Technologies CNN, Maxar Technologies, IDF, PlanetLabs CNN, New York Times, Yorker, of Health, Criminal Court, ICC, Oxford University’s Institute for Ethics, Law, International Court, Justice, “ International, Commonwealth, Commission Locations: Tel Aviv, Gaza, Al, Khan Younis, Anadolu, Shajaiya, Gaza City, Hamas, Bani, Bani Suheila, Al Falouja, Jabalya, Sheikh Ijlin, Palestinian, Khan, Jordanian, Radwan, Cairo, Rome, Israel, South Africa

☆ Morning Bid: Small caps pick up baton, China rating hit
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +6 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. The likes of Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O) and Amazon (AMZN.O) fell back over 1%, pressured by a modest bounceback in U.S. Treasury yields. China's blue-chip stocks slumped to their lowest since February 2019 amid fears of a possible cut to China's sovereign credit rating cut after Moody's outlook reduction. By Mike Dolan, Editing by Bernadette Baum; <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Russell, that's, Moody's, Isabel Schnabel, Michael Gibson, Christine Laggard, Mongo, Zero Fox, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Reserve, Microsoft, Apple, Nvidia, Treasury, Reserve Bank of Australia, Central Bank, Reuters, ECB, Barclays, Qatar, P Global, Federal, Division, Supervision, Financial Innovation, Descartes Systems, Health, Powell Industries, Dave, Buster's Entertainment, Reuters Graphics, Thomson Locations: New York City, U.S, Global, York, Treasuries, Europe

☆ South Korea Oct factory output falls most in 10 months on weaker chip production
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Nov 30 (Reuters) - South Korea's factory output unexpectedly fell on weaker chip production in October and posted the biggest drop in 10 months, official data showed on Thursday. The industrial output index fell 3.5% in October from a month earlier on a seasonally adjusted basis, according to Statistics Korea. On a yearly basis, factory output rose 1.1%, compared with gains of 2.9% in the prior month and 5.2% expected by economists. In October, output also fell in the services sector, down 0.9% over the month, marking its first decline since May. The all-industry output index fell 1.6%, the biggest drop since April 2020.

Persons: Jihoon Lee, Chris Reese Organizations: Statistics Korea, Thomson Locations: SEOUL

The week starts off with a bevy of unpleasant surprises for the markets and the economy but with maybe a hope of good news on the inflation front. “The decline in oil prices will feature prominently in explaining October's CPI and PPI reports. Core CPI likely slowed in October as well, with lower prices of new and used cars, lower airfares, and lower shelter costs all leaning the same way. PPI inflation likely moderated in October, too, with diesel prices following crude oil prices lower, albeit not by as much as gasoline. Powell’s comments were not anything new, but the timing seemed to suggest he was dampening down enthusiasm in the markets.

Persons: Moody’s, Mike Johnson, ”, Bob Doll, Republican Sen, Tim Scott of, David Cameron, Rishi Sunak, Stocks, Bill Adams, Waran Bhahirethan, ” Adams, Jerome Powell spooked, ” Powell, Oliver Rust, Sam Bullard, ” Bullard Organizations: U.S, AAA, Louisiana Republican, GOP, Senate, Crossmark Global Investments, Republican, Tim Scott of South Carolina, Conservative, Analysts, Comerica Bank, PPI, CPI, Federal Reserve, International Monetary Fund, Central Bank, “, Wells Locations: U.S, Louisiana, Tim Scott of South, London, Iraq, Syria, Gaza City, September’s, Israel, Washington

☆ Can America afford two wars? Here’s what the bond market thinks
▼ + stars: | 2023-10-29 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

New York CNN —If you want to aggravate the US bond market, just remind traders how high the nation’s budget deficit is. The latest tally from the Treasury Department for the fiscal year that ended September 30 put the deficit at $1.7 trillion. All else being equal, that tends to push bond prices down, which causes yields to go higher. That suggests there are other factors that may be outweighing the effects of the war that are driving yields higher, said Snyderman. Also, since the debt ceiling was suspended in June, the Treasury has been issuing more bonds to fund government spending, pushing bond prices down.

Persons: it’s, Joe, That’s, shrugged, Lisa Shalett, Janet Yellen, Rachel Snyderman, Biden, ” Snyderman, John Lynch, Israel doesn’t Organizations: New, New York CNN, Treasury Department, Treasury, Morgan Stanley Wealth Management, Bloomberg, Center, CNN, , Congressional, Federal Reserve, Hamas, Fitch, Moody’s, Service, Comerica Wealth Management Locations: New York, Israel, Ukraine, Gaza, United States

☆ Abandoned golf courses are being reclaimed by nature
▼ + stars: | 2023-10-27 | by ( Nell Lewis | ) edition.cnn.com time to read: +9 min

CNN —Golf courses, despite occupying large green spaces, are not necessarily good for the environment. Santa Barbara's Ocean Meadows golf course has been returned to its wetland state, which doubles as a flood defense for the city. Rivers and streams are often diverted or altered to make way for a golf course, but conservationists want them to flow freely. In other areas of the country, local councils are repurposing unprofitable municipal golf courses to create more natural spaces. A golf course turned nature reserve, Yalukit Willam can now be enjoyed by the Melbourne residents.

Persons: ”, Guillermo Rodriguez, “, ” California's, Larsen, Rodriguez, TPL, Public Land Rodriguez, Mike Johnson, Frodsham, Michael Owen, “ It’s, Neil Oxley, Boon Organizations: CNN, The Trust, Public, Trust, Public Land, San, Rancho Cañada, Summit Metro Parks, Wildlife, Liverpool, Woodland Trust, Hull, Derbyshire Wildlife Trust, Hove City Council, Bayside City Council Locations: California, ” California's San Geronimo, San Geronimo , California, San Geronimo, California’s Marin County, Meadows , California, Santa Barbara, Meadows, Santa, Cañada , California, Monterey, Carmel, Ventana, Fort Ord, Rivers, Valley , Ohio, Akron , Ohio, Ohio’s, Cheshire, Liverpool, Erewash Borough, Brighton, Willam, Australia, Melbourne, Elwood, Bayside

☆ T. Rowe beats profit estimates on higher fee-based income
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

The logo of T. Rowe Price Group is pictured at its office in Tokyo, Japan, January 13, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsOct 27 (Reuters) - T. Rowe Price Group (TROW.O) reported a better-than-expected quarterly profit on Friday, as concerns about the economy somewhat eased from last year, boosting assets under management at the firm. "However, our flows remain pressured, with net outflows from equity outweighing the positive net flows to fixed income, multi-asset and alternatives in this quarter," CEO Rob Sharps said in a statement. Total assets under management at the end of the quarter was $1.35 trillion, up 9.5% over the year earlier. Investment advisory fees were up 1.5% at $1.46 billion in the quarter, T. Rowe said.

Persons: Rowe Price, Toru Hanai, Rob Sharps, Rowe, Sri Hari, Shilpi Majumdar Organizations: REUTERS, Federal Reserve, Sri, Thomson Locations: Tokyo, Japan, Baltimore , Maryland, Bengaluru

☆ Oil and natural gas prices are on different paths. Here's what has been driving the moves
▼ + stars: | 2023-10-06 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

Oil and natural gas prices traveled divergent paths this week, resulting in a mixed picture for the Club stocks Coterra Energy (CTRA) and Pioneer Natural Resources (PXD). In Thursday's session alone, natural gas prices jumped nearly 7%, as traders reacted to U.S. government data that showed a smaller-than-expected storage build. For the week, through Thursday's settle, natural gas has climbed 8.1%, building on last week's 11% advance. Natural gas on Friday morning jumped another 1.5%. Coterra's revenues are roughly a 50-50 split between oil and natural gas.

Persons: Brent, WTI, Paul Sankey, Sankey, Goldman Sachs, Coterra, Jim Cramer's, Jim Cramer, Jim, David Mcnew Organizations: Club, Coterra Energy, Natural Resources, Texas Intermediate, Traders, Northern, U.S, CNBC, Street Journal, Exxon Mobil, ., Diamondback Energy, Devon Energy, Getty Locations: U.S, Thursday's, Saudi Arabia, Russia, WTI, Friday's premarket, Coterra, China

☆ The Fed is throwing 'kerosene on the fire' and needs to end rate hikes as inflation is probably already at 2%, billionaire real estate mogul Barry Sternlicht says
▼ + stars: | 2023-09-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed's rate hikes are the equivalent of throwing "kerosene on the fire," Barry Sternlicht said. The real estate mogul has been a loud critic of the Fed policy. High interest rates mean the US is bound to enter a slowdown, he warned in a recent interview. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Central bankers raised interest rates aggressively in the last 18 months to lower inflation.

Persons: Barry Sternlicht, —, Sternlicht, Powell Organizations: Service, Reserve, Starwood Capital Group, Fed, CNBC Locations: United States

☆ Oil prices will hit $100 a barrel in 2024, Goldman Sachs' chief commodities strategist warns
▼ + stars: | 2023-09-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Oil prices could tread as high as $100 a barrel in 2024, Goldman Sachs' Jeff Currie said. AdvertisementAdvertisementOil prices are heading into the triple-digits next year, as a supercycle lifts the commodities sector, according to Goldman Sachs' outgoing commodities chief Jeff Currie. That's largely because of a supply-demand imbalance in the oil market, which is likely to worsen over the next year and push prices higher, Currie said. Currie, who has warned of triple-digit oil prices since late 2022, said there's increased demand for crude, noting that last week saw prices near $100. That's because higher prices at the gas pump could translate into weaker consumer sentiment, which could hit spending, corporate profits, and eventually, economic growth.

Persons: Goldman Sachs, Jeff Currie, Brent, —, Goldman, Currie Organizations: Service, CNBC, OPEC, Brent, West Texas Intermediate

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. In the previous three weeks, they rose more than 10% on concerns about tight supply. Higher interest rates increase borrowing costs, which could slow economic growth and reduce oil demand. Meanwhile, markets worried about Russia's temporary ban on exports of gasoline and diesel to most countries would tighten supplies. Russian wholesale gasoline prices were down nearly 10% and diesel down 7.5% on Friday on the St. Petersburg International Mercantile Exchange.

Persons: Nick Oxford, Brent, Dennis Kissler, Russia's Transneft, Arathy Somasekhar, Nicole Jao, Robert Harvey, Yuka Obayashi, Emily Chow, Jan Harvey, Jason Neely, David Gregorio Our Organizations: REUTERS, . West Texas, BOK Financial, . Federal, RBC, St . Petersburg International Mercantile Exchange, IIR Energy, Thomson Locations: Cushing , Oklahoma, HOUSTON, U.S, Primorsk, Novorossiysk, St, Houston, New York, Tokyo, Singapore

☆ Asian stocks climb as traders shrug off inflation surprise
▼ + stars: | 2023-09-14 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Fed funds futures hardly budged on the inflation data, and imply nearly no chance of a rate hike next week, and about a 45% chance of another hike by year's end. The S&P 500 (.SPX) rose 0.1% and futures rose 0.2% in Asia. European futures were flat. The euro has been supported this week by creeping expectations for the European Central Bank to hike rates on Thursday, though analysts say it may struggle for further gains. The New Zealand dollar was also firmer at $0.5941, while the dollar slipped about 0.2% to buy 147.11 yen .

Persons: Androniki, Glenn Yin, HSI, Brent Donnelly, it's, Kazuo Ueda, Shri Navaratnam Organizations: Nikkei, REUTERS, Rights, European Central Bank, Tokyo's Nikkei, Treasury, ., New, AETOS Capital Group, Arm Holdings, EU, Spectra Markets, New Zealand, Bank of Japan, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, New York, Melbourne, Saudi Arabia, Russia, Australia

☆ Saudi Arabia to extend voluntary cut of 1 million barrels per day until the end of the year
▼ + stars: | 2023-09-05 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Saudi Arabia on Tuesday extended its 1-million-barrels-per-day voluntary crude oil production cut until the end of the year, according to the state-owned Saudi Press Agency. The reduction will put Saudi crude output near 9 million barrels per day over October, November and December and will be reviewed on a monthly basis. The cut adds to 1.66 million barrels per day of other voluntary crude output declines that some members of the Organization of the Petroleum Exporting Countries have put in place until the end of 2024. Fellow heavyweight oil producer Russia — which leads the contingent that joins OPEC nations in the OPEC+ coalition — also pledged to voluntarily reduce exports by 500,000 barrels per day in August and by 300,000 barrels per day in September. OPEC Secretary-General Haitham al-Ghais has previously said that resorting to voluntary reductions outside of OPEC+ decisions does not suggest divisions in policy views among alliance members.

Persons: Russia —, —, Alexander Novak, Haitham, Ghais Organizations: Saudi Press Agency, Organization of, Petroleum, Kremlin, Brent Locations: China, Saudi Arabia, Russia, Saudi, Riyadh, OPEC, London

☆ Retailers say organized theft is biting into profits, but internal issues may really be to blame
▼ + stars: | 2023-08-10 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

In this article TGTFL Follow your favorite stocks CREATE FREE ACCOUNTThis is part two of a three-part series on organized retail crime. "If there's an occurrence of external theft they would steal let's say 10 bucks worth of merchandise, but if it's internal theft, it'd be 40 bucks." Internal theft also happens at warehouses and in aisles where online orders are prepared, one of the people said. However, he thinks internal theft is now "second place" to external theft. Shrink references reach a 'fever pitch'Retailers started to blame organized theft for lower profits as the industry's performance started to suffer.

Persons: Daniel Acker, they're, Neil Saunders, GlobalData, it's, Saunders, Patrick Tormey, it'd, Sonia Lapinsky, AlixPartners, David Johnston, Janine Stichter, Fonrouge, Foot Locker, You've, Mary Dillon, Locker, Michael Nagle Organizations: Target Corp, Bloomberg, Getty, CNBC, Lehman College School of Business, National Retail Federation, Retailers, Walgreens Locations: Chicago , Illinois, drugstores, America, GlobalData, New York, U.S

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERSBEIJING, Aug 9 (Reuters) - Oil prices eased in Asian morning trade on Wednesday as concerns over slow demand from top crude importer China grew after bearish trade and inflation data, outweighing fears over tighter supply arising from output cuts by Saudi Arabia and Russia. "Oil prices are struggling to further rise because of lingering concerns over a sluggish recovery in China's economy and fuel demand," said Chiyoki Chen, chief analyst at Sunward Trading. Both benchmarks notched their sixth consecutive weekly gains last week, the longest winning streak since December 2021 to January 2022, helped by a reduction in OPEC+ supplies and hopes of stimulus boosting an oil demand recovery in China. In another bearish sign, U.S. crude oil stocks rose by 4.1 million barrels last week, according to market sources citing American Petroleum Institute figures on Tuesday.

Persons: Brent, Chiyoki Chen, Yuka Obayashi, Andrew Hayley, Jamie Freed, Sonali Paul Organizations: REUTERS, . West Texas, Sunward, American Petroleum Institute, Reuters, U.S . Energy Information Administration, Saudi, Thomson Locations: Zhoushan, Zhejiang province, China, REUTERS BEIJING, Saudi Arabia, Russia, United States, Europe, Saudi, Tokyo, Beijing

A gentle downtrend in foreign direct investment gave way to a steep drop last quarter and inflows to China slammed to their lowest since records began 25 years ago, raising the prospect that the long-term trend is turning. Sources have told Reuters the Biden administration is likely to adopt new outbound investment restrictions on China in the coming weeks. Japan, the U.S. and Europe have already restricted the sale of high-tech chipmaking tools to Chinese companies while China has hit back by throttling exports of raw materials. To be sure, investment flows often fluctuate and many firms aren't leaving China completely or aren't leaving at all. "A lot of our clients are worried about their exposure to China as a sole country of supply."

Persons: Carlos Barria, Deng Xiaoping, Logan Wright, Biden, John Ramig, Buchalter, Daniel Seeff, Cardigan, Chi Lo, Lee Smith, Baker Donelson, Samuel Shen, Tom Westbrook, Winni Zhou, Jacqueline Wong Organizations: REUTERS, Corporate, China Markets, China's, Administration of Foreign Exchange, Investors, Reuters, Oxford Economics, Ministry of Commerce, Management, Thomson Locations: Pudong, Shanghai, SHANGHAI, SYDNEY, China, Japan, U.S, Europe, Haining, Peru, Hong Kong, Baker, Singapore

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