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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEB CEO: No meaningful acquisitions planned but supportive of consolidation in the sectorSEB CEO Johan Torgeby discusses the company's earnings and the broader banking sector.
Persons: SEB, Johan Torgeby
CNN —A judge in Georgia has paused a new rule from the Georgia State Election Board that would have required officials to hand-count the number of ballots cast at each polling place, criticizing state election officials for approving it so close to Election Day. The hand-count rule is the subject of litigation on multiple fronts and a separate hearing on the matter is set for Wednesday. Passed by the Donald Trump-backed Republican majority on the state election board, the rule would require officials at a polling place to match the number of ballots tallied by voting machines with a hand-count of the number of ballots cast. Georgia Secretary of State Brad Raffensperger, a Republican, has noted the state took several steps to speed up the reporting of results in Georgia this year. He has said the hand-count rule could delay the reporting of results, foster an atmosphere for misinformation and present chain of custody issues for ballots.
Persons: CNN —, , Robert McBurney, SEB, wouldn’t, Harris, Donald Trump, Brad Raffensperger, McBurney, , ” McBurney Organizations: CNN, Board, Democratic National Committee, Democratic Party of Georgia, Republican Locations: Georgia, ” Fulton County
In 2022, oil flow in the Strait of Hormuz averaged 21 million barrels per day, according to the U.S. Energy Information Administration (EIA). Saul Kavonic, senior research analyst at MST Financial, said supply disruptions along the Strait of Hormuz could send oil prices significantly higher. Oil prices traded more than 3% on Monday, extending gains even after notching their sharpest weekly gain since early 2023 last week. "But seeing where the oil price sits right now the market doesn't seem to hold much probability for such a development at all," he added. "A significant disruption to these flows would be enough to push oil prices to new record highs, surpassing the record high of close to $150/bbl in 2008," he added.
Persons: Alan Gelder, Wood Mackenzie, CNBC's, Iraq —, Gelder, Saul Kavonic, Kavonic, Bjarne Schieldrop, SEB, Brent, Schieldrop, Warren Patterson, Patterson Organizations: Nurphoto, U.S . Energy Information Administration, Energy, Brent, U.S, West Texas, ING, bbl, United Arab Emirates, Space Shuttle Columbia Locations: Persian, Bushehr, Iran, Hormuz, Oman, Strait, Israel, Saudi Arabia, Kuwait, Iraq, UAE, Gulf, Muscat
Iran, which is a member of OPEC, is a major player in the global oil market. It's estimated that as much as 4% of global supply could be at risk if Israel targets Iran's oil facilities. For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. watch nowTamas Varga, an analyst at oil broker PVM, told CNBC via email on Thursday that the oil market was pricing in some risk premium given the geopolitical concerns. These fears, however, will be greatly alleviated in [the] coming days unless oil supply from the region or traffic through the Strait of Hormuz are materially impacted," he added.
Persons: Fatemeh, Goldman Sachs, SEB, Jeff Currie, Carlyle, CNBC's, it's, Currie, we've, Amrita Sen, We've, Sen, Joe Biden, Biden, Tamas Varga, " Varga, Benjamin Netanyahu, Masoud Pezeshkian Organizations: Anadolu, Getty, Energy, OPEC, Brent, U.S, West Texas, CNBC, White House, Islamic Revolutionary Guard Corps, Persian, Nurphoto Locations: Isfahan Refinery, Iran, Isfahan, Israel, Swedish, backwardation, bearishness, U.S, Hormuz, Oman, Tehran, Qatar, Persian, Bushehr, Bushehr province
Traders are watching rising risks to oil supplies as tensions in the Middle East escalate. US oil spiked 5.5% to $73.98 a barrel and Brent prices rose more than 5% to trade at $77.86. If the conflict destroys Iran's oil infrastructure, oil prices could surge 161% to over $200 a barrel, according to SEB's chief commodities analyst Bjarne Schieldrop. AdvertisementInvestors are eagerly awaiting the September jobs report, due Friday, for further signs of labor market health. Markets are pricing in a 65% chance of a smaller 25 basis point cut in November, according to the CME FedWatch Tool.
Persons: Friday's nonfarm, Biden, , Joe Biden, retaliating, Biden's, Brent, Bjarne Schieldrop, Economists, Jensen Huang, Blackwell Organizations: Traders, Service, Dow Jones, Nasdaq, Treasury, Israel, Labor Department, Federal Reserve, Costco Locations: Israel, Iran
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil prices could rally above $200 if Iran’s energy infrastructure is wiped out, analyst saysBjarne Schieldrop, chief commodities analyst at SEB, discusses the oil market outlook amid elevated tensions in the Middle East.
Persons: Bjarne Schieldrop, SEB
U.S. crude oil prices rose nearly 2% on Thursday for a third consecutive session of gains, as the market braces for Israel to retaliate against Iran. The risk of oil supply disruptions increases as fighting in the Middle East intensifies, but OPEC+ is sitting on a large amount of spare crude that could step into the breach, according to Claudio Galimberti, chief economist at Rystad Energy. U.S. crude oil has gained 5% this week. "That would add a significant risk premium to oil," he told CNBC's "Street Signs Europe." As a consequence, oil prices could surge to $200 per barrel if Israel hits Iran's oil infrastructure, he said.
Persons: Claudio Galimberti, Galimberti, Bjarne Schieldrop, Schieldrop, CNBC's Organizations: Rystad Energy Locations: Israel, Iran, OPEC, Swedish, Strait, Hormuz
It comes amid speculation that Israel could be planning to launch a retaliatory attack on Iran targeting its oil infrastructure — a prospect which would likely deliver a rude awakening to bearish energy market participants. Iran, which is a member of the Organization of the Petroleum Exporting Countries (OPEC), is a major player in the global oil market. So much so, it is estimated that as much as 4% of the world's supply could be at risk if Iran's oil infrastructure becomes a target for Israel. That, of course, would add a significant risk premium to oil," Schieldrop said. Situated between Iran and Oman, the Strait of Hormuz is a narrow but strategically important waterway that links crude producers in the Middle East with key markets across the world.
Persons: Bjarne Schieldrop, SEB, Schieldrop Organizations: CNBC, Organization of, Petroleum, Israel Locations: Isfahan Refinery, Iran, Isfahan, Israel, Strait, Hormuz, Oman
Oil prices could surge past $200 a barrel if Iran's oil installations are taken offline, a chief commodities expert said. AdvertisementOil prices could roar past $200 a barrel if escalating tensions in the Middle East decimate Iran's crude output, a chief commodities analyst told CNBC. In the $200 per barrel scenario, Brent crude, the international benchmark, would gain 161% from its current price. Still, some investors are betting on the possibility of damaged oil output, Bloomberg reports. These restrictions were introduced to prop up oil prices, but have cost the alliance market share.
Persons: , SEB's Bjarne Schieldrop, Schieldrop, Brent, Bob McNally, haven't Organizations: Service, CNBC, Traders, Bloomberg Locations: Iran, Hormuz, Israel, Lebanon, Libya, OPEC, Saudi Arabia, Riyadh
A late winner from England substitute Ollie Watkins against Netherlands put Gareth Southgate’s team into the final of Euro 2024, where they will face Spain. It is their second consecutive European Championship final, and the first time England have reached a major tournament final abroad. Denzel Dumfries catching Kane was deemed a penalty, despite the Netherlands defender having little choice but to attempt a block. Against the Netherlands, Rice dropped into similar positions but was far more willing to punch balls forward and look for those ahead of him. Watkins’ stunning winner — set up by Palmer — validated Southgate’s decision yet again, with a goal worthy of winning any game.
Persons: Ollie Watkins, Gareth Southgate’s, Harry Kane, Xavi Simons, Declan Rice, Kane, Denzel Dumfries, Tim Spiers, Mark Carey, Jacob Whitehead, Seb Stafford, it’ll, they’ve, Phil Foden, Kobbie Mainoo, Luke Shaw, Ivan Toney, Southgate, , Foden, Cole Palmer, Watkins, Palmer, Stefan de Vrij, De, Felix Zwayer, Jude Bellingham, Dumfries, , Gary Neville, Bloor Rice, Rice, Simons —, Jordan Pickford, Michael Regan –, Kyle Walker, Watkins ’, Palmer —, Mark Carey The, Zwayer, Phil Foden’s, dink, Bart Verbruggen, Alex Grimm Organizations: England, Netherlands, Aston Villa, Bloor, Wembley, Slovakia, Switzerland, Watkins, UEFA, Michael Regan – UEFA, Getty, England’s, Mark Carey The Denzel Dumfries Show Dumfries, Pixar, Bull, Dumfries Locations: Spain, England, Netherlands, Berlin, Switzerland, Slovakia, Zwayer, Southgate, Dumfries,
The 30-year-old high jumper cleared 1.89 meters at the Ukrainian Athletics Championships on Sunday, not enough to qualify for this year’s Olympic Games in Paris. Many athletes have moved abroad in order to continue their careers and train for this year’s Games. This means that teams of Russian and Belarusian athletes will not be considered, while athletes who actively support the war against Ukraine will also be ineligible. No reference to either country will be made at the Games through the athletes’ participation, such as flags, anthems or national colors. “We’re not friends, we’re not competitors,” Ryzhykova told CNN about facing Russian and Belarusian athletes.
Persons: Ukraine CNN —, Tabashnyk, , I’ve, Seb Coe, ” Tabashnyk, Viktoriia Tkachuk, , ” Tkachuk, Hannah Peters, Tkachuk, , ’ ”, ” Matviy, I’m, Anna Ryzhykova, “ We’re, we’re, ” Ryzhykova, Ryzhykova, it’s, Svitlana Vlasova Organizations: Ukraine CNN, Ukrainian, CNN, Paris, Ukraine’s Sports Ministry, European, Olympic, Russia, Olympics, Olympic Games, Olympic Committee, Games, IOC, Locations: Lviv, Ukraine, Paris, Kharkiv, Russian, Tokyo, Ukraine’s, Belarus, , South Africa, Belarusian, Italian, Brescia, Dnipro isn’t, Hungary, Budapest
SEB: Nvidia's impact on Asia stock market is 'evident'
  + stars: | 2024-06-19 | 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 EmailSEB: Nvidia's impact on Asia stock market is 'evident'Eugenia Victorino, head of Asia strategy at SEB, discusses the latest updates on Nvidia surpassing Microsoft and Apple as the world's most valuable company.
Persons: Eugenia Victorino, SEB Organizations: Microsoft, Apple Locations: Asia
Read previewThis as-told-to essay is based on a conversation with Seb, 32, about his commute from Hamburg to London for work. However, my team was switching back to in-person work, so it wasn't particularly fair for me to work completely remotely. My fastest time so far has been four hours and 44 minutes, and the longest has been close to six hours. Hamburg is a lot cleaner than London, and the roads are a lot quieter. It's not like I ended up with someone Spanish and got to live in a sunny beach destination in Spain.
Persons: , Seb, I'd, I've, packer, I'm, there's, It's Organizations: Service, Business, European Union, British Airways, London Heathrow, Hamburg Airport, Airport, Netflix, Spanish Locations: Hamburg, London, TikTok, Germany, Canary, England, Spain
French energy prices fell into negative territory on an overflow of renewable power, Bloomberg reported. AdvertisementDay-ahead energy prices in France fell into negative territory amid surging renewable power production, Bloomberg reported. The situation in France is different in that the rollout of renewable power has been slower than in other countries in the region, Reuters said. Paris has installed around 45 gigawatts of wind and solar capacity, and is behind European Commission targets. AdvertisementIf the National Rally party wins, it has pledged to slash renewable subsidies and end the wind power industry's expansion.
Persons: , It's, SEB Research Organizations: Bloomberg, Service, Electricite, Reuters, National Rally Locations: France, Spain, Germany, Paris
In today's big story, we're looking at the push for WFH Fridays and how that plays into the "quiet vacationing" phenomenon . The big storyAnti-office FridaysHector Roquet Rivero/Getty Images; Jenny Chang-Rodriguez/BIWith all due respect to summer Fridays, we've found a year-round replacement: WFH Fridays. But WFH Fridays' staying power remains to be seen. Which brings us back to WFH Fridays. The end result could be employers saying abuse of WFH Fridays means they need you back in the office… for good.
Persons: , Hector Roquet Rivero, Jenny Chang, Rodriguez, we've, Insider's Juliana Kaplan, Noah Sheidlower, It's, Taiyou Nomachi, millennials, they've, BI's Kelsey Vlamis, haven't, it's, Momo Takahashi, Goldman Sachs, SEB Research, That's, Andrew Caballero, Reynolds, Isabel Fernandez, OpenAI, Scarlett Johansson, Sam Altman, Y Combinator, Tyler Le, Mark Cuban, Vivek Ramaswamy, Burger King, Dan DeFrancesco, Hallam Bullock, George Glover, Grace Lett, Laine Napoli Organizations: Service, Business, Workers, Companies, RBC Capital, Pujol, BI, Microsoft, Google, Bloomberg, Finance Ministers, Central Bank Governors Locations: Dublin, Germany, Meta, BuzzFeed, New York, London, Chicago
CNN —A far-right coalition of parties in the European Parliament has expelled Germany’s Alternative for Germany (AfD) Party following their leading candidate’s comments about Nazi SS soldiers during World War II. “The ID Group no longer wants to be associated with the incidents involving Maximilian KRAH, head of the AfD list for the European elections,” it said. Krah, the AfD’s leading candidate in next month’s European elections, has already been banned from making public appearances by his party, following controversial comments about Nazi SS soldiers in Italian newspaper La Repubblica over the weekend. French far-right leader Marine Le Pen from her National Rassemblement (RN) Party has also said they would no longer sit in the same parliamentary group as the AfD after next month’s elections. CNN’s James Frater reported from London, Nadine Schmidt and Seb Shukla from Berlin, and Barbie Nadeau from Rome.
Persons: , , Maximilian KRAH, Krah, Adolf Hilter, Marine Le, CNN’s James Frater, Nadine Schmidt, Seb Shukla, Barbie Nadeau Organizations: CNN, Nazi SS, Democracy Group, La Repubblica, SS, Schutzstaffel, Rassemblement, Party Locations: Germany, London, Berlin, Rome
Her journey now sees the 29-year-old set to become a two-time Olympian – Noble represented Uganda at the Tokyo Games – when she competes at Paris 2024. She is Uganda’s first Olympic rowing participant, as well as the African nation’s first and only White Olympian across any sporting discipline. A prodigious swimmer in her youth, Noble represented Uganda at the 2012 World Swimming Championships at just 17 years of age. Then, on a whim during her time as a student at Princeton University, Noble was convinced to try her hand at rowing. Lee Jin-man/APIt is not just a lack of equipment which has hampered rowing’s growth in the east African country.
Persons: Kathleen Noble’s, – Noble, Noble, ” Noble, James Martinez, ” Kathleen Noble, Lee Jin, it’s, , , , It’s, I’ve, Seb Daly, “ You’re, I’m Organizations: CNN, Tokyo Games, Princeton University, CNN Sport, Olympic, World Rowing Federation, Tokyo, Uganda Rowing Federation, Ugandan Rowing Federation, National Council of Sports, Ugandan, Paris Games Locations: Uganda, Africa, Lake Victoria, Great, Tennessee, Nakaseke, “ Uganda, It’s, Ireland, Tokyo, Paris
Markets will be fixated on U.S. inflation, analyst says
  + stars: | 2024-05-20 | 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 EmailMarkets will be fixated on U.S. inflation, analyst saysSean Yokota, head of Asia markets, SEB says geopolitical events "tend to make a big noise on the first couple of days" before wearing off.
Persons: Sean Yokota, SEB Locations: Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Understandable' that the yen moved back to 153 against the dollar, strategist saysEugenia Victorino, head of Asia strategy at SEB, says "anything in excess of 153 is really just trader excitement over the lack of intervention."
Persons: Eugenia Victorino, SEB Locations: Asia
Oil prices advance as investors reassess U.S. inventories data
  + stars: | 2024-03-28 | by ( ) www.cnbc.com   time to read: +1 min
Global oil prices edged up on Thursday, recovering from two consecutive sessions of decline, as investors reassessed the latest U.S. crude oil and gasoline inventories data and returned to buying mode. In the prior session, oil prices were under pressure after U.S. crude oil and gasoline inventories rose unexpectedly last week driven by a rise in crude imports and sluggish gasoline demand, according the Energy Information Administration data. "We... expect U.S. inventories to rise less than normal in reflection of a global oil market in a slight deficit. This will likely hand support to the Brent crude oil price going forward," Bjarne Schieldrop, chief commodities analyst at SEB Research, said in a note. Lower interest rates support oil demand.
Persons: Brent, Bjarne Schieldrop Organizations: Brent, . West Texas, Energy, Administration, American Petroleum Institute, SEB Research, U.S . Federal Reserve, Fed, European Central Bank, JPMorgan Locations: Midland , Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'It's puzzling': Sweden is now a stronger economy than many expected, says SEB CFOMasih Yazdi, CFO of Swedish bank SEB, discusses the economic outlook for Sweden and Europe more broadly with CNBC.
Persons: SEB, Masih Yazdi Organizations: CNBC Locations: Sweden, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's 'way too early' to be a buyer of Chinese or Hong Kong stocks right now, strategist saysSean Yokota, head of Asia strategy at SEB, says "you do need to see the Fed signaling that interest rate cuts are coming imminently."
Persons: Sean Yokota, SEB Locations: Hong Kong, Asia
LONDON (AP) — Rajeev Ram and Austin Krajicek clinched a spot for the United States in the Davis Cup Finals group round by winning the doubles match against Ukraine on Friday for an insurmountable 3-0 lead in the best-of-five-match qualifying series in Vilnius, Lithuania. Ram and Krajicek beat Illya Beloborodko and Oleksii Krutykh 6-3, 4-6, 6-3. Ukraine was supposed to host the United States for these qualifying matches. Then eight teams will make it to the quarterfinals in Malaga, Spain, in November, when a champion will be determined. 1 Novak Djokovic); South Korea at Canada; Germany at Hungary; Switzerland at Netherlands; Portugal at Finland; and Brazil at Sweden.
Persons: — Rajeev Ram, Austin Krajicek, Ram, Krajicek, Illya Beloborodko, Bob Bryan's, Sebastian Korda, Krutykh, Chris Eubanks, Taylor Fritz, Viacheslav, , ” Ram, Bryan, Novak Djokovic, ___ Organizations: Ukraine, SEB Arena, Italy Locations: United States, Vilnius, Lithuania, Ukraine, Russia, Australia, Spain, Malaga, Slovakia, Serbia, South Korea, Canada, Germany, Hungary, Switzerland, Netherlands, Portugal, Finland, Brazil, Sweden, Belgium, Croatia, Israel, Czech Republic, France, Taiwan, Kazakhstan, Argentina, Peru, Chile
London CNN —Police in the British capital shot dead a man who was reportedly trying to enter a property armed with a crossbow in the early hours of Tuesday, according to a statement. The man, who police say is thought to be in his 30s, “was threatening to harm residents inside the address,” reads the statement. Lucy North/Press Association/AP“Local officers attended and attempted to speak to the man but, after being threatened, armed officers were called and quickly attended the scene,” added police. “The man had got inside the property, and a police firearm was discharged,” continues the statement. Police and paramedics provided first aid but the man died at the scene, said police, adding that two people at the address suffered minor injuries.
Persons: , Lucy North, , Seb Adjei Organizations: London CNN — Police, city’s Metropolitan Police, Press Association, AP “ Local, Police, Independent Office, Metropolitan Police Locations: Bywater, London, city’s, Southwark, England, Wales
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'It's the quarter that differs': SEB CEO discuss fourth-quarter earningsJohan Torgeby, CEO of SEB, speaks to Silvia Amaro about the Swedish bank's latest earnings.
Persons: SEB, Johan Torgeby, Silvia Amaro Locations: Swedish
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