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☆ Hedge funds using computers to sell up to $30 billion of stocks soon - UBS
▼ + stars: | 2023-10-02 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Oct 2 (Reuters) - Hedge funds using computers to trade equities are expecting to start selling to the tune of $20 billion to $30 billion in the next two weeks given retreating stock markets, a UBS (UBSG.S) note seen by Reuters shows. Hedge funds using algorithms to follow market trends have turned neutral from bullish on stocks, the UBS note said. This will be the first time these hedge funds will be net short equity markets since November 2022, the bank said. The size of the U.S. stock market is estimated to be $46.2 trillion, according to the Securities Industry and Financial Markets Association.

Persons: Denis Balibouse, CTAs, Nell Mackenzie, Dhara Ranasinghe, Alison Williams Organizations: Swiss, UBS, REUTERS, Reuters, Securities Industry, Financial Markets Association, Currency, Bank for International, Thomson Locations: Zurich, Switzerland, U.S

☆ Sam Bankman-Fried considered paying Trump $5 billion not to run for president, Michael Lewis tells '60 Minutes'
▼ + stars: | 2023-10-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried, the alleged crypto criminal who stands accused of masterminding one of the biggest financial frauds in U.S. history, was considering paying Donald Trump $5 billion not to run for president, according to best-selling author Michael Lewis. In an interview with CBS's "60 Minutes" that aired on Sunday, Lewis said the FTX founder wanted to put a stop to a Trump White House run in 2024 over fears that the former president was a threat to democracy. "Sam's thinking, 'We could pay Donald Trump not to run for president. And the number that was kicking around when I was talking to Sam about this was $5 billion. Sam was not sure that number came directly from Trump."

Persons: Sam Bankman, Donald Trump, Michael Lewis, CBS's, Lewis, Sam, Fried, Bernie Madoff Organizations: Trump White, Bankman Locations: New York, Trump, Manhattan

☆ Hedge fund Eisler Capital uses basis trades to add to positive year
▼ + stars: | 2023-09-29 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

LONDON, Sept 29 (Reuters) - Hedge fund Eisler Capital posted a 4.17% positive performance for the year to end-August, it said in a letter to investors, benefiting from a basis-trade strategy that has regulators worried about financial stability risks. According to the letter seen by Reuters, basis trades have been a part of the most profitable trading strategy for the $3.7 billion London-based hedge fund this year. While the fund uses basis trades in U.S. Treasuries, it also employs them with the euro, Swiss franc and Swedish government bonds, the letter showed. A Fed paper on Aug. 30 said that if these positions represent the so-called basis trades, "sustained large exposures by hedge funds present a financial stability vulnerability" warranting "diligent monitoring." The Eisler investor letter also showed the hedge fund uses swap derivatives to mitigate the riskiness of its positions.

Persons: Eisler, Kevin Lenaghan, Nell Mackenzie, David Holmes Organizations: Eisler, Reuters, Swiss, Bank for International, Ivy Academy, Thomson Locations: Los Angeles, U.S, Europe

☆ Fugitive founder of crypto hedge fund that lost $10 billion arrested in Singapore while attempting to flee
▼ + stars: | 2023-09-29 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Authorities have arrested crypto fugitive Su Zhu, co-founder of bankrupt digital asset hedge fund Three Arrows Capital, who was apparently attempting to flee Singapore. Zhu and co-founder Kyle Davies have both been sentenced to four months in prison, according to Teneo, the financial advisory firm handling 3AC's liquidation. The Singapore Courts ruled against Zhu for deliberately failing to comply with court orders compelling him to cooperate with Teneo's investigation into creditors' claims and the implosion of the multibillion-dollar fund. At its peak in 2022, 3AC managed about $10 billion in assets, making it one of the most prominent crypto hedge funds in the world. The firm added that it may seek further court orders against him.

Persons: Su Zhu, Zhu, Kyle Davies, Davies, 3AC, Teneo, maximising Organizations: Arrows Capital, Airport, Police, Monetary Authority of Locations: Singapore, Monetary Authority of Singapore

Saudi Crown Prince Mohammed bin Salman receives U.S. President Joe Biden at Al Salman Palace upon his arrival in Jeddah, Saudi Arabia, July 15, 2022. Washington could also sweeten any deal by designating Saudi Arabia a Major Non-NATO Ally, a status already given to Israel, the U.S. source said. "Saudi Arabia supports a peace plan for the Palestinians, but this time it wanted something for Saudi Arabia, not just for the Palestinians." SEEKING ISRAELI COMMITMENTSIsrael's Prime Minister Benjamin Netanyahu has hailed the possibility of a "historic" peace with Saudi Arabia, the heartland of Islam. Yet, even if the U.S, Israel and Saudi Arabia agree, winning support from lawmakers in the U.S. Congress remains a challenge.

Persons: Prince Mohammed bin Salman, Joe Biden, NATO Ally, Biden, Washington, Benjamin Netanyahu, Netanyahu, Mahmoud Abbas, Jamal Khashoggi, China, Samia Nakhoul, James Mackenzie, Dan Williams, Ali Sawafta, Aziz El Yaacouby, Steve Holland, Matt Spetalnick, Humeyra Pamuk, Patricia Zengerle, Edmund Blair Organizations: Al, Saudi Royal Court, REUTERS Acquire, Defence, NATO, Saudi, U.S, U.S . Navy Fifth, Saudi Arabia, U.S . State Department, U.S . Atomic Energy, Israel's, MbS, Fox, Israel, West Bank, Palestinian Authority, West, Biden's Democratic Party, Washington Post, Congress, Thomson Locations: Saudi, Jeddah, Saudi Arabia, Bandar, Bahrain, Washington, Israel, United States, U.S, Riyadh, Iran, Tehran, Japan, Egypt, West Bank, East Jerusalem, Yemen, Beijing, Dubai, Jerusalmen

☆ Oil prices near $100 per barrel raise questions over demand destruction
▼ + stars: | 2023-09-29 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +7 min

boonchai wedmakawand | Moment | Getty ImagesSupply cuts from heavyweight crude producers have helped drive oil prices near $100 per barrel — fueling some to consider the potential for future demand destruction. Seven European refiners and traders, who spoke under anonymity because of contractual obligations, told CNBC that local buyers can withstand oil prices veering into triple digits without lowering their output runs. Some European market participants polled by CNBC doubted triple-digit oil prices are sustainable in the long term, with three pointing to possible demand destruction — where customers gradually answer persistently high prices with fewer purchases. "Sometimes high oil prices can become a self-fulfilling prophecy," Indian Energy Minister Hardeep Singh Puri warned in August. The oil price hike has benefitted Moscow despite sanctions.

Persons: boonchai, Sushant Gupta, Wood Mackenzie, Topping, Ukraine —, refiner, Hardeep Singh Puri, Giovanni Staunovo Organizations: Brent, ING, Organization of, Petroleum, CNBC, U.S . Energy, Administration, Indian Energy, UBS Locations: London, Asia, Wood, OPEC, Saudi Arabia, Russia, China, Europe, Ukraine, U.S, Moscow, Washington, Israel, East, Riyadh, Iran, Beijing

☆ Arab family of five shot dead as crime rates in Israel soar
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

[1/5] People attend a protest against a spike in deadly crime-related violence in Israel's Arab communities after a family of five, including a woman and two teenagers, were shot dead in their home in Basmat Tab'un, northern Israel September 27, 2023. REUTERS/Ammar Awad Acquire Licensing RightsJERUSALEM, Sept 27 (Reuters) - Five members of an Arab family were shot dead in their home in Israel, police said on Wednesday, in the latest in a wave of crime-related killings in Israel's Arab communities that has reached a new peak this year. Arab mayors have accused the government and police of deliberately neglecting their communities and of enabling criminals to act with impunity. "As police, we will do everything to get to the killers," police spokesman Eli Levi told reporters at the scene of Wednesday's crime. Arab citizens, most of whom are descendants of Palestinians who remained in Israel during the mass exodus of refugees in the 1948 war surrounding Israel's creation, make up about a fifth of the country's population.

Persons: Ammar Awad, Basmat Tab'un, Benjamin Netanyahu's, Mansour Abbas, Itamar Ben, Gvir, Netanyahu, Eli Levi, Henriette Chacar, James Mackenzie, William Maclean Organizations: REUTERS, Rights, National, Israel, Jewish, Thomson Locations: Basmat Tab'un, Israel, Basmat

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHouse lawmakers push SEC Chair Gensler to approve spot bitcoin ETF applications: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jennifer Schulp, the director of financial regulation studies at the Cato Institute's Center for Monetary and Financial Alternatives, who testified before lawmakers a few weeks after FTX filed for bankruptcy, weighs in on crypto regulatory developments in the U.S.

Persons: Gensler, explainers, Jennifer Schulp, FTX Organizations: Email, SEC, CNBC Crypto, CNBC, Cato Institute's Center, Monetary Locations: U.S

☆ Copper is critical to energy transition. The world is falling way behind on producing enough
▼ + stars: | 2023-09-27 | by ( Bob Woods | ) www.cnbc.com time to read: +8 min

watch nowIn the meantime, copper customers, in anticipation of shortages, are either delaying clean energy projects or reducing their need for copper, an economic principle known as demand destruction. Among other actions, it would dismantle most of the clean energy projects initiated by the Biden Administration. At that point, the consensus was that there would be a major copper supply response. That's presented the industry with a whole new era of copper demand, Adkerson said. China's economy has slowed, while those in the U.S. and Europe are striving to transition to clean energy.

Persons: Wood Mackenzie, Nick Pickens, we've, we're, Tesla, eyeing, Rishi Sunak, Richard Adkerson, he's, Adkerson, That's, Clayton Walker, Matt Murphy, Murphy, Walker Organizations: Polska Miedz SA, Bloomberg, Getty, EV, P, International Energy Agency, Heritage Foundation, Republican, Biden Administration, Phoenix, Resources, Freeport, Afp, Rio, Barclays, Rio Tinto, Caterpillar Locations: Glogow, Poland, Wood, EVs, McMoRan, Freeport, China, U.S, Europe, Papua, Freeport's Indonesia, Rio Tinto, Mongolia, Salt Lake City , Utah, Indonesia, Rio

☆ Arab Family of Five Shot Dead as Crime Rates in Israel Soar
▼ + stars: | 2023-09-27 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

JERUSALEM (Reuters) - Five members of an Arab family were shot dead in their home in Israel, police said on Wednesday, in the latest in a wave of crime-related killings in Israel's Arab communities that has reached a new peak this year. Arab mayors have accused the government and police of deliberately neglecting their communities and of enabling criminals to act with impunity. With Israel facing its worst political crisis in decades, over Netanyahu's drive to push through divisive changes to the judiciary, Arab citizens say the collapse of personal safety in their communities must receive more government attention. "As police, we will do everything to get to the killers," police spokesman Eli Levi told reporters at the scene of Wednesday's crime. Arab citizens, most of whom are descendants of Palestinians who remained in Israel during the mass exodus of refugees in the 1948 war surrounding Israel's creation, make up about a fifth of the country's population.

Persons: Basmat Tab'un, Benjamin Netanyahu's, Mansour Abbas, Itamar Ben, Gvir, Netanyahu, Eli Levi, Henriette Chacar, James Mackenzie, William Maclean Organizations: National, Israel, Jewish Locations: JERUSALEM, Israel, Basmat

☆ Bitcoin miners beef up Texas operations ahead of extinction-level event, exclusive data shows
▼ + stars: | 2023-09-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Bitcoin miners are barreling toward the "halving" — a major market-making event that some fear will be a death knell to many in the industry. "We're taking a long-term bet on bitcoin and on the fact that bitcoin mining will survive and will bounce back even stronger." Texas has grown to dominate bitcoin mining partly because of support from local authorities and the operator of the Texas energy grid, ERCOT. Even during the bear market, Texas miners are building out, buying new sites and fresh fleets of hardware. The mining company was spun off from Chinese bitcoin mining giant Bitmain and went public via SPAC earlier this year.

Persons: Kevin Zhang, Jihan Wu, Bitmain, Kevin Zhang Crypto, He's, China — he's, Zhang, bitcoin, Barry Silbert's, Foundry's, —, Chad Harris, ERCOT, Nic Carter, Shaun Connell, Brad Jones, Brandon Arvanaghi, Jason Les, Navarro, Les, hashrate, Morgan, Bitdeer Organizations: Foundry, Mining, CNBC, U.S, Riot, Cipher Mining, Georgia, Securities Exchange Commission, JPMorgan Chase Locations: Sweden, Republic of Georgia, China, America, Beijing, Shenzhen, Montana, North America, Texas, Wyoming, New York, United States, U.S, . Texas, Castle, Rockdale, Austin, Milam, Odessa , Texas, Minden , Nebraska, , Texas, New Hampshire, Pennsylvania, Nebraska, North Carolina , Kentucky , Oklahoma, Washington

Pipes for the Nord Stream 2 gas pipeline in the Baltic Sea, which are not used, are seen in the harbour of Mukran, Germany, on September 30, 2022. Before Russia's invasion of Ukraine, the Nord Stream 1 pipeline had accounted for 15% of Europe's gas imports in 2021, according to the Oxford Institute for Energy Studies. A second Nord Stream 2 link was planned but never operated. "Our biggest risk was that Russia can manipulate our energy markets," EU Energy Commissioner Kadri Simson told Reuters. Across the EU, gas storage caverns are now 95% full, Gas Infrastructure Europe data show.

Persons: Pipes, Fabian Bimmer, Kadri Simson, SEB, Ole Hvalbye, Tom Marzec, Wood Mackenzie, Gergely Molnar, Jacob Mandel, Kate Abnett, Julia Payne, Nora Buli, Barbara Lewis Organizations: REUTERS, Oxford Institute for Energy Studies, Reuters Graphics, EU Energy, Reuters, EU, SEB Commodities, Gas Infrastructure, International Energy Agency, Aurora Energy Research, Thomson Locations: Baltic, Mukran, Germany, Russia, BRUSSELS, OSLO, Europe, Ukraine, RUSSIA, Norway, United States, Russian, Greece, Poland, Finland, Italy, Netherlands, France, Reuters Graphics Germany, Belgium, Britain, Portugal, Spain, Paris, Brussels, Oslo

☆ Wood Mackenzie says oil is unlikely to stay at $100 a barrel for a long time
▼ + stars: | 2023-09-25 | 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 EmailWood Mackenzie says oil is unlikely to stay at $100 a barrel for a long timeSushant Gupta, research director of Asia refining at Wood Mackenzie, says the fourth quarter is the "tightest period" for the oil market, but the first quarter is when "seasonal demand is lower" and prices can be expected to fall.

Persons: Wood Mackenzie, Gupta Locations: Asia, Wood

☆ US Grid-Scale Energy Storage Installations Hit New Quarterly Record - Report
▼ + stars: | 2023-09-25 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

(Reuters) - The U.S. grid-scale energy storage installations hit a new record in the second quarter of 2023, a report by Wood Mackenzie and the American Clean Power Association (ACP) said. Grid-scale energy storage is essential in helping balance and regulate energy supply in a grid that is increasingly reliant on intermittent wind and solar power. Across all segments of the industry, the U.S. energy storage market added 5,597 megawatt hours (MWh) in the second quarter this year, a new quarterly record. "We saw a huge bounce back in Q2 after consecutive quarterly declines in the market," said Vanessa Witte, senior analyst with Wood Mackenzie’s energy storage team. Meanwhile, community, commercial, and industrial (CCI) installations were at 107 MWh in the second quarter, according to the report.

Persons: Wood Mackenzie, John Hensley, Vanessa Witte, Wood, Ashitha, Eileen Soreng Organizations: Reuters, American Clean Power Association, Research Locations: U.S, California, Bengaluru

☆ Israel says US to announce it has joined Visa Waiver Program
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

Israel Foreign Minister Eli Cohen speaks during a press conference with Greek Foreign Minister Giorgos Gerapetritis at the Foreign Ministry in Athens, Greece, July 6, 2023. REUTERS/Louiza Vradi/File Photo Acquire Licensing RightsJERUSALEM, Sept 25 (Reuters) - Israel's Foreign Ministry said on Monday it expects the United States to announce this week that it will be admitted to the Visa Waiver Program (VWP), which would allow Israeli citizens visa-free entry to America as of November. "Israel joining the Visa Waiver Program is a diplomatic achievement and good news for all Israeli citizens," said Foreign Minister Eli Cohen. In Israel's case, that would mean free passage for Palestinian Americans at its airports and when travelling into and out of the occupied Palestinian territories. Between 45,000 and 60,000 Palestinian Americans live in the West Bank, a U.S. official estimated.

Persons: Eli Cohen, Giorgos Gerapetritis, Louiza, Benjamin Netanyahu's, Israel, Henriette Chacar, Simon Lewis, Caitlin Webber, James Mackenzie, Mark Heinrich, Sonali Paul Organizations: Israel, Greek Foreign, Foreign Ministry, REUTERS, Rights, Visa, Israeli, U.S . State Department, Homeland Security, State, Palestinian, West Bank, U.S, Thomson Locations: Athens, Greece, United States, America, Israel, U.S, Washington, Palestinian, Croatia

☆ Israeli Forces Kill Palestinian Fighter in Northern West Bank Raid
▼ + stars: | 2023-09-22 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

RAMALLAH, West Bank (Reuters) - Israeli forces shot dead a Palestinian militant during a raid in the occupied West Bank on Friday, the seventh person killed this week as President Mahmoud Abbas sought to revive statehood talks amid efforts to further integrate Israel into the Middle East. In a statement, they said he was shot while confronting Israeli soldiers who raided the village of Kafr Dan near the northern West Bank city of Jenin. The Israeli military said soldiers opened fire at suspects who shot at and hurled an explosive device at its forces during a weapons search operation in Kafr Dan. Violence in the West Bank violence has surged for over a year, with stepped up Israeli military raids, increased settler assaults on Palestinian villages and a spate of Palestinian attacks targeting Israelis. Israel occupied the West Bank, which Palestinians want as the core of an independent state, in a 1967 Middle East war.

Persons: Mahmoud Abbas, Kafr Dan, Benjamin Netanyahu's, Joe Biden, Netanyahu, Abbas, Ali Sawafta, Henriette Chacar, James Mackenzie, Christina Fincher Organizations: West Bank, Reuters, Islamic, Defense, Children International, U.S, United Nations General Assembly, UN Locations: RAMALLAH, West, Palestinian, Israel, Kafr, West Bank, Jenin, Kafr Dan, Palestine, New York, Saudi Arabia

☆ Ethereum founder Vitalik Buterin travels the globe to keep crypto alive as the U.S. cracks down
▼ + stars: | 2023-09-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Today, the biggest challenge for Buterin and the ethereum community is making sure that it provides actual value to people. Buterin was named the world's youngest crypto billionaire at age 27 as the crypto market swelled to its peak in 2021. And he isn't, according to his own estimation, the be-all and end-all authority on the ethereum network. About the ethereum network, he says, "On the other hand, you've got your laptop. In terms of what's next for ethereum — Buterin says a big priority is focusing on privacy and scalability through zero-knowledge rollups.

Persons: Vitalik Buterin, Buterin, coder, doesn't, Czech Republic Pavel Sinagl, that's, clasped, Buterin wasn't, cryptocurrencies, Sam Bankman, Luna, they're, Dmitry, Vitalik, Dmitry Buterin, ethereum blockchains, you've, Satoshi Nakamoto, ethereum, — Buterin Organizations: CNBC PRAGUE, CNBC, Canadian, U.S . Tornado, Buterin, U.S, Securities and Exchange Commission, SEC, CFTC, People's Bank of China, tinker, Ethereum, Ethereum Foundation Locations: Prague, Russia, Czech Republic, Ukraine, Netherlands, Paralelní Polis, Holešovice, China, U.S, Africa, Argentina, Buenos Aires, San Francisco, CBDCs, Moscow, ethereum, Denver, Paris

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to retire with $1 million if you're making $80,000 per yearYou can save $1 million for retirement while making $80,000 per year, but it's easier if you start investing as soon as possible. Here's a breakdown of how much of your salary you'll need to invest.

☆ Chevron Australia strikes called off by unions at Gorgon and Wheatstone LNG plants
▼ + stars: | 2023-09-21 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Union workers have called off strikes at liquefied natural gas facilities belonging to Chevron in Australia, ending a standoff that could have affected about 7% of global LNG supply. “The Offshore Alliance will now work with Chevron to finalize the drafting of the three agreements and members will soon cease current industrial action,” it added. Workers at Chevron’s Gorgon and Wheatstone facilities began walking off the job two weeks ago over pay and other conditions. “There has not been a material impact on global LNG supply. The region has become more dependent on global LNG supplies since deliveries of pipeline gas from Russia slumped following its invasion of Ukraine in February 2022.

Persons: Wheatstone, Daniel Toleman, Wood Mackenzie, “, ” Toleman Organizations: Hong Kong CNN — Union, Chevron, Offshore Alliance, Australian Workers ’ Union, Maritime Union of Australia, Commission, Workers, Reuters, CNN, ” Locations: Hong Kong, Chevron, Australia, Wheatstone, Western Australia, Europe, Russia, Ukraine

☆ CNBC Daily Open: High rates are still hobbling IPOs
▼ + stars: | 2023-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Downbeat marketsU.S. markets dipped and U.S. Treasury yields rose Tuesday as investors braced themselves for the outcome of the Federal Reserve's meeting. At its open, Instacart popped 40% to hit $42, but pared gains as investors sold off to lock in their initial gains. Analysts who once predicted China would become the biggest economy globally are perplexed as to why the country's blunting its own growth.

Persons: Kospi, Hong, Instacart, Fereidun Fesharaki, Wood Mackenzie Organizations: CNBC, Treasury, Analysts, Global Locations: Asia, Pacific, China

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrayscale launches bid for new ether futures ETFCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry.

Persons: explainers Organizations: CNBC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Deutsche Bank investment banker pleads guilty to crypto fraud: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brian Mosoff, CEO of Ether Capital, weighs in on a new upgrade for Ethereum's network, which aims to slow down the pace of staking to avoid a surge in gas fees. He also discusses what factors could drive ether's next prolonged rally.

Persons: explainers, Brian Mosoff Organizations: Former Deutsche Bank, CNBC Crypto, CNBC, Ether

☆ Oil markets' decades-long dependence on China could be ending
▼ + stars: | 2023-09-20 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

China's demand for oil could peak by the end of the decade — and with its economic recovery still in limbo, can global oil markets continue to rely on China? "For 20 years, the oil market is dependent on China, China, China, supporting the markets. He predicted that China's demand for oil will peak in the next three to five years. "In the global [oil] markets, we have to look at countries like India, or other empires to create the resilience on the demand side," Fesharaki added. Similarly, Wood Mackenzie expects China's oil demand to peak by 2027, after which an extended fall in demand for crude will follow.

Persons: Fereidun Fesharaki, Fesharaki, Wood Mackenzie Organizations: Global, CNBC Locations: China, India

☆ Rafael Nadal says Novak Djokovic is the best tennis player ‘in history’
▼ + stars: | 2023-09-20 | by ( Matias Grez | ) edition.cnn.com time to read: +4 min

CNN —Rafael Nadal believes long-time rival Novak Djokovic is the greatest tennis player of all time and says “there is nothing to discuss” about the sport’s GOAT debate. Djokovic can also boast a record 39 Masters 1000 titles, three ahead of Nadal, and the most weeks spent at world No. If I feel competitive and enjoy what I do, why would I limit myself?” he said. Nadal says he is currently either training or undergoing rehab twice a day to prepare for next season but is still playing very little tennis. “This is my current dream, to go out on a tennis court and feel like I can play competitively.

Persons: CNN — Rafael Nadal, Novak Djokovic, Nadal, Djokovic, Roger Federer, “, ” Nadal, he’d, ” Novak Djokovic, Manu Fernandez, Nadal hasn’t, Mackenzie McDonald, ”, can’t, Nadal hasn't, MANAN VATSYAYANA, Clay ’, that’s, I’m Organizations: CNN, Serb, Diario AS, Getty Locations: Spanish, AFP

☆ Why Sweetgreen’s $15 Salads Still Haven’t Made the Company Profitable
▼ + stars: | 2023-09-19 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

How Carhartt Survived a Changing Workforce When Carhartt launched its line of workwear over a century ago, 69% of America’s workforce was devoted to occupations like farming, mining and manufacturing. Today, the brand is spotted on models, rappers and even former presidents, despite never swaying from its core strategy. Photo illustration: MacKenzie Coffman

Persons: Carhartt, MacKenzie Coffman

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