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Roth MKM downgrades ChargePoint to neutral from buy Roth said it's concerned about weak demand for charging equipment. UBS upgrades Pacific Biosciences to buy from neutral UBS said the biotech company has growth potential. Citi reiterates Microsoft as buy Citi said it's standing by its buy rating on the stock. Morgan Stanley upgrades Analog Devices to overweight from equal weight Morgan Stanley said the bottom is in sight for the semiconductor company. Truist initiates Dick's as buy Truist said in its initiation of the stock that it sees an attractive buying opportunity. "
Persons: Evercore, Roth, it's, CHPT, Wolfe, underperform Wolfe, RBLX, GitLab, Hubbell, Morgan Stanley, Carvana, Raymond James, Cava, Redburn, Piper Sandler, Piper, buybacks, Baird, Truist, Lululemon, Kimberly, Clark Organizations: EV, UBS, Pacific Biosciences, Citi, Microsoft, Barclays, JPMorgan, HSBC, UW, downgrades, Products, Nvidia, Coherus BioSciences, Goods, Zim Locations: ChargePoint, billings, 2Q24
Nearly two million posts with the hashtag #IsraeliNewNazism appeared on X in that period, and another 40,000 posts featured the hashtag #ZionistsAreEvil or #ZionistsAreNazis. In previous months, the hashtag appeared fewer than 5,000 times a month. Other sites, including TikTok and Facebook, have also experienced surges in hate speech but have removed the content that was flagged to them, researchers said. The hate speech that remained was often more veiled, such as a TikTok trend of using “Austrian painter” as code for Adolf Hitler. From Oct. 7 to Oct. 13, she added, TikTok took down 730,000 videos for violating hate speech rules.
Persons: IsraeliNewNazism, HitlerWasRight, , LevelGaza, Memetica, , Adolf Hitler, TikTok, Pepe the, Noam Schwartz, , Adi Cohen Organizations: Defamation League, Defamation, Facebook, Times, Palestinian, Nova, 4chan Locations: Austrian, Palestine, Israel, Florida, Gaza
“We saw this in the first days of the war, wherever there were weapons, the scale of the disaster was smaller,” Ben Gvir said in a press release. Critics see it as part of a far-right vision to inflame Israeli-Palestinian relations in the country, especially in the Israeli-occupied West Bank. Some in Prime Minister Benjamin Netanyahu’s cabinet, such as Ben Gvir and far-right Finance Minister Bezalel Smotrich, support annexing the West Bank. When CNN asked Ben Gvir at the Caesarea event last week whether his actions were inciting violence against Palestinians, CNN was kicked out of the ceremony. He adds that arming people like that “is only showing what he (Ben Gvir) is trying to cause, which is chaos.”CNN has reached out to Eliasi for comment.
Persons: Itamar Ben Gvir, , , Ben Gvir, ” Ben Gvir’s, Mariam Barghouti, Ben Gvir’s, ­, , Israel, Benjamin Netanyahu’s, Bezalel Smotrich, we’re, we’ll, Itamar Ben, Gvir, William Bonnett, Amichay Eliyahu, Ben, Eliyahu, Roy Malkan, ” Malkan, Yoav Eliasi, Ori Givati, Guy Ben, Israel’s Ben, ” Ben, Porat, Liat Eisner, We’re, Eisner, she’s, Netanyahu’s, I’m Organizations: Jerusalem CNN, Ministry of National Security, West Bank, Power, New York Times, , Jewish Power, CNN, Palestinian Ministry of Health, The United Nations, Israeli National Security, Israel Defense Forces, Heritage, , ” CNN, Reuters, Survey, Israel’s, Gurion University, ” Protesters, Ben, ” Security Locations: Caesarea, Jerusalem, Israel, Judea, Samaria, Palestinian, East Jerusalem, Abdelathim, Qusra, Nablus, Judaea, , Ben Gvir’s, Gaza, Tel Aviv, Swiss
As a Palestinian resident of the West Bank, Handal needs a permit to enter Jerusalem. Israel controls all entry and exit points to the West Bank through roadblocks and checkpoints which are staffed by soldiers and armed police. Ivana Kottasova/CNNIsrael has occupied the West Bank since seizing the territory from Jordanian military occupation in 1967. In the early 1990s, under the Oslo Accords peace agreements, the West Bank was divided into three distinct zones: A, B and C.Area C, which comprises about 60% of the West Bank, is fully Israeli-controlled and forms one continuous territory. The increased violence is forcing many West Bank residents to stay at home.
Persons: Joseph Handal, ” Handal, Israel, Bani Moufleh, ‘ I’ll, , Mohammad Jamil, Jamil, Ibrahim, Ibrahim –, Ivana Kottasova, CNN Israel, Volker Turk, , ” Turk, Mohamad Torokman, Joe Biden, Biden, Benjamin Netanyahu, Handal Organizations: West Bank CNN —, West Bank, CNN, Hamas, Getty, International Labour Organization, Palestinian Authority, West Bank ., Bank, Palestinian Ministry of Health, Jihad, UN Office, Humanitarian Affairs, UN, Fourth Geneva Convention, Reuters, Locations: Bethlehem, Old City, Jerusalem, Bethlehem ., Palestinian, Israel, Territories, Nablus, Tulkarem, Hebron, Oslo, Israeli, West Bank . Cities, Handal’s, Oslo Accords, Ramallah, That’s,
Shani Louk was a German-Israeli tattoo artist who was thought to have been kidnapped by Hamas. Shani Louk, dressed in an olive green two-piece, is one of them. AdvertisementAdvertisementRicarda Louk sits in front of a placard of her daughter Shani Louk Tuesday Oct. 17, 2023 in Tel Aviv. Evelyn Hockstein/Reutersn the early years of her life, Louk's family moved to Portland, Oregon, after her father, Nissim, got a job at Intel. In other photos posted by her sister, the Louk family appears to be very close.
Persons: Shani Louk, Louk, , Akbar, Alleruzzo, Amit, Louk's, Ricarda, Der Spiegel, Adi, Nissim, Ricarda Louk, Li, Evelyn Hockstein, Devorah Spilman, Spilman, Evenlyn Hockstein, didn't, Orión Hernández Radoux, Radoux, Amir Cohen, Netanyahu, Gallant, Ammar Awad, isn't, Shani Organizations: Service, Nova, Hamas, Sky News, Intel, Portland Jewish Academy, Orly, Reuters, Defence, Süddeutsche Zeitung, Israeli Locations: German, Gaza, Hamas, Israel, Tel Aviv, Ravensburg, Germany, Srigim, Portland , Oregon, Orly, Greece
The decision by Saudi Arabia and Russia to extend the voluntary cuts drove up oil prices to over $90 a barrel in late September. Saudi crude exports to China rose to nearly 1.6 million bpd in September, up from 1.2 million bpd in August and 1.37 million bpd in July, Kpler data showed. U.S. CRUDE EXPORTS FALLAs the U.S. sees less crude imports, it has exported less oil to Europe. U.S. crude exports to Europe fell to 1.86 million bpd in September and 1.84 million bpd in August, from 2.01 million bpd in July, Kpler data showed. Tight supply led the premium for front-month Brent crude futures to rise to as much as $3.26 a barrel above the second month , the highest since 2022.
Persons: Lucy Nicholson, Matt Smith, Smith, refiners, Vortexa's Rohit Rathod, Adi Imsirovic, Brent, Stephanie Kelly, Alex Lawler, David Gregorio Our Organizations: Port, REUTERS, Brent, Organization of, Petroleum, Total U.S, Americas, Kpler, West, Surrey Clean Energy, CSIS, Midland, P, Insights, Thomson Locations: Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S, Saudi Arabia, Europe, Russia, Nigeria, Algeria, Saudi, China, Richmond , California, Los Angeles, Midland, Brent
The other tier comprises mainstream vessels that use Western services for legal oil shipments, including from Russia under the terms of the price cap. In the short term, available ghost vessels could be in particular demand, making chartering them more expensive. Even so, some analysts say removing the price cap could be the way to really punish Russia. But he said that was very unlikely because the price cap at least allows Russian oil to flow, thereby moderating international prices. "The Biden administration is already reeling from higher oil prices compounded by the unrest in Gaza, potentially spreading to a wider Middle Eastern conflict.
Persons: Alexandre Meneghini, Ioannis Papadimitriou, Mike Salthouse, FGE, Vortexa’s Papadimitriou, Richard Bronze, Adi Imsirovic, Biden, Natalie Grover, Robert Harvey, Julia Payne, Andrea Shalal, Barbara Lewis Organizations: REUTERS, Reuters, Maersk, EU, White House, United Arab, Shell, BP, Exxon Mobil, Exxon, U.S, . Treasury, Treasury, Novy Port, Surrey Clean Energy, Thomson Locations: Liberia, Russia, Matanzas, Matanzas , Cuba, Ukraine, United States, Euronav, Turkey, United Arab Emirates, U.S, India, Novy, Gaza, London, Brussels, Washington
Arab citizens and permanent residents in Israel make up just over 20% of the country’s population. His ancestors were evacuated from Iqrit, a village north of Haifa, by Israeli forces during the 1948 war. Last Wednesday, Prime Minister Benjamin Netanyahu and some opposition leaders joined an emergency war cabinet to manage the war. “Some people call it Turkish coffee, some call it Jerusalem coffee or Palestinian coffee or Israeli coffee … when I am in the mood, I call it Palestinian coffee,” he said, watching a spoonful of sugar bubble up from the bottom of the pot. “When I am not in the mood, I call it Jerusalem coffee … to avoid the politics”
Persons: Aya Najame, Najame, , ” Najame, it’s, ” Ashraf Ashkar, ” Ashkar, Ashkar, Benjamin Netanyahu, Itamar Ben Gvir, Bezalel Smotrich, B’Tselem, Smotrich, we’re, , Diane Buttu, ’ ”, Buttu, ” Naim Khoury, Ivana Kottasova, CNN Naim Khoury, ” Khoury, ’ Abu Nader, Nader, , Abu Nader, ” Buttu, there’s Organizations: Jerusalem CNN, West Bank, CNN, , Israel Defense Forces, Palestinian, Palestinian Authority, Israeli Information Center, Human Rights, United Nations Office, Humanitarian Affairs Locations: Haifa, Jerusalem, Arab, Israel, Gaza, Lebanon, Syria, “ Haifa, Nisnas, Iqrit, Territories, Palestinian, Jerusalem’s Old City, Old City, , cezve
An Israeli woman living on Kibbutz Be'eri was taken hostage by Hamas fighters on Saturday. But Israeli officials say they have found 107 bodies there, after Hamas fighters targeted it as part of its surprise attacks launched over the weekend. But she said she heard Hamas militants forcibly breaking down her door and entering the house. Efrat said the fighters told her they wouldn't hurt her and only wanted the keys to the kibbutz's vehicles. The Hamas fighters asked her to help extract people from a vehicle, though she was uncertain if they were dead or alive, she said.
Persons: Be'eri, , Adi Efrat, Axel Springer, Efrat, Bild's Paul Ronzheimer, Eyal Warshavsky Organizations: Service, Israel Defense Forces, Bild, Saturday, The, New York Times, Gaza Ministry, Health Locations: Be'eri, Israel, Gaza
Uber names semiconductor executive Mahendra-Rajah as CFO
  + stars: | 2023-09-27 | by ( ) www.reuters.com   time to read: +2 min
The logo of Uber is seen in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsSept 27 (Reuters) - Uber Technologies (UBER.N) on Wednesday named Analog Devices (ADI.O) CFO Prashanth Mahendra-Rajah as its finance chief at a time when the ride-hailing company is gearing up for growing competition in the industry. At semiconductor firm Analog Devices, Mahendra-Rajah oversaw the roughly $21-billion acquisition of rival Maxim Integrated Products. Mahendra-Rajah was previously the CFO at vehicle technologies supplier WABCO Holdings and has held other financial leadership roles at Applied Materials (AMAT.O), Visa (V.N) and United Technologies. Still, with more than $1 billion in free cash flow in the second quarter, Uber said it was increasingly considering share repurchases and shareholder dividends.
Persons: Arnd, Prashanth Mahendra, Rajah, Mahendra, Nelson Chai, Uber, Deborah Sophia, Shounak Dasgupta Organizations: REUTERS, Technologies, Devices, Maxim Integrated Products, WABCO Holdings, Materials, Visa, United Technologies, Los Angeles Yellow Cab, Thomson Locations: Davos, Switzerland, San Francisco, Nelson, Europe, Asia, Bengaluru
The nVIDIA booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. Chip stocks soared to start the year, with the Philadelphia SE Semiconductor index (.SOX) rising over 50% through July. With "some of the names that really have catapulted to the top, now you are starting to question valuations,” Mahn said. Of course, many chip stocks are sitting on substantial gains for the year and this month may only be a temporary setback. “I do believe there are opportunities in semiconductor stocks going forward," Mahn said.
Persons: Mike Blake, , Lip, LSEG Datastream, Kevin Mahn, ” Mahn, Taiwan's, chipmaker, Mahn, Lewis Krauskopf, Ira Iosebashvili, Andrea Ricci Organizations: nVIDIA, REUTERS, Nvidia, Philadelphia, Semiconductor, Wealth Management, Hennion, Walsh Asset Management, Reuters, Federal Reserve, Lam Research, Applied, KLA Corp, Arm Holdings, Devices, Broadcom, Thomson Locations: Los Angeles , California, U.S, United States, China, Washington
Following widespread public outcry, Adidas announced it had ended its relationship with Ye, stopped production of Yeezy-branded products and ended all payments to Ye and his companies. Foot Locker and Gap soon followed suit and announced they would pull Yeezy products from their stores. That can happen with an athlete, it can happen with an entertainer, so it's part of the business," said Gulden. Despite the public comments from its chief executive, an Adidas spokesperson told CNBC that the company's position on Ye "has not changed." Adidas CEO Bjorn Gulden defended Ye, the artist formerly known as Kanye West, and said the rapper didn't mean it when he made a series of antisemitic remarks.
Persons: Nicolai Tangen's, Gulden, Ye, Adi, Bjorn Gulden Organizations: Adidas, CNBC Locations: Chicago, German
Canada's Prime Minister Justin Trudeau delivers his remarks during the ASEAN-Canada Summit as part of the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, 06 September 2023. ADI WEDA/Pool via REUTERS Acquire Licensing RightsOTTAWA, Sept 14 (Reuters) - Canada could impose new taxes on major grocery chains if they do not come up with a convincing plan to limit the rise of food prices, Prime Minister Justin Trudeau said on Thursday. Trudeau said the heads of the largest chains would be summoned to Ottawa with a plan to address rising prices. The deadline for this is Oct. 9, he said at the end of a meeting of his ruling Liberal Party in London, Ontario. Reporting by David Ljunggren; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
Persons: Justin Trudeau, Trudeau, David Ljunggren, Leslie Adler Organizations: Canada's, ASEAN, Canada, 43rd Association of Southeast Asian Nations, REUTERS Acquire, Rights, Liberal Party, Thomson Locations: Jakarta, Indonesia, Canada, Ottawa, London , Ontario
An official ASEAN statement issued Tuesday night confirmed the decision to hand the chair to the Philippines in 2026 and affirmed the group's commitment to a five-point plan for restoring peace and stability in Myanmar. The ASEAN leaders' statement on Myanmar stressed the desire to work with the generals to end the country's crisis, especially in the context of the five-point plan which Myanmar accepted in 2021 but has largely failed to implement. "All of us are aware of the magnitude of the world's challenges today, where the main key to facing them is the unity and centrality of ASEAN," Widodo told fellow leaders. "ASEAN leaders must ensure that this ship is able to keep going, able to keep sailing," Widodo said. Japanese Prime Minister Fumio Kishida said before flying to Jakarta that he plans to offer assurances of the safety of the ongoing release into the sea of treated radioactive wastewater from the damaged Fukushima nuclear power plant.
Persons: Ferdinand Marcos, Lee Hsien Loong, Ministry of Foreign Affairs Sarun, Pham Minh Chinh, Joko Widodo, Sonexay Siphandone, Sultan Hassanal Bolkiah, Hun Manet, Anwar Ibrahim, Xanana Gusmao, Adi Weda, Aung, Ferdinand Marcos Jr, Marcos, Retno Marsudi, , Marsudi, bloc's, Widodo, Kamala Harris, Joe Biden, Li Qiang, Sergey Lavrov, Fumio Kishida Organizations: Singapore's, Ministry of Foreign Affairs, Vietnam's, Cambodia's, Malaysia's, East Timor's, ASEAN Summit, Afp, Getty, United, Aung San Suu, ASEAN, Indonesia, Associated Press, European Union, Myanmar Armed Forces, Foreign Ministry, ASEAN Chair, Indonesian, Assistance Association for Political, U.S ., U.S, Russian, Japanese Locations: Laos, East, Jakarta, Myanmar, United States, Aung San, Philippines, Philippine, ASEAN, Naypyidaw, South China, U.S, China
Goldman Sachs reiterates Nvidia as buy Goldman said it's standing by it's buy rating after Nvidia's strong earnings report on Wednesday. Stifel upgrades Nvidia to buy from hold Stifel upgraded the stock after its strong earnings report Wednesday. Bank of America upgrades Williams-Sonoma to neutral from underperform Bank of America said that the downside scenario is now "off the table" for Williams-Sonoma. Bank of America downgrades Vizio to underperform from buy Bank of America double downgraded the stock on concerns about a weakening consumer. Bank of America downgrades Peloton to neutral from buy Bank of America said it sees "limited visibility on growth initiatives" for Peloton .
Persons: Needham, Rivian, it's, Oppenheimer, Goldman Sachs, Goldman, Morgan Stanley, Wedbush, Johnson, Splunk, Raymond James, Piper Sandler, Piper, Wolfe, Charles Schwab, Bernstein, Estee Lauder, Snowflake, Rosenblatt, Read Organizations: Nvidia, Center, Stifel, AMC, Bank of America, underperform Bank of America, Williams, Sonoma, Vizio, Johnson, Prudential, DFS, ADI Locations: CY2024, Williams, Sonoma, Snowflake
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 23 (Reuters) - Analog Devices (ADI.O) forecast fourth-quarter revenue below Wall Street targets on Wednesday, in a sign that the chip industry inventory glut, fueled by weak consumer demand, might prevent fresh orders from flowing in. U.S.-based Analog Devices projected fourth-quarter revenue of $2.70 billion, plus or minus $100 million, compared with analysts' average estimate of $3.01 billion, according to Refinitiv data. Rival Texas Instruments (TXN.O) also forecast third-quarter revenue below market estimates as weak consumer demand prompted electronics makers to be cautious about buying chips. Analog Devices also forecast fourth-quarter adjusted earnings of $2 per share, plus or minus 10 cents, below analysts' estimate of $2.39 per share profit. Its third-quarter revenue fell about 1% to $3.08 billion, missing estimates, weighed by the consumer sector.
Persons: Dado Ruvic, Vincent Roche, Arsheeya, Shilpi Majumdar Organizations: REUTERS, Research, Devices, Texas, ON Semiconductor, NXP Semiconductors, Thomson Locations: China, Vincent Roche ., Bengaluru
Missed quarterly results and light guidance from Analog Devices (ADI) is a reminder that it's not sunshine and rainbows across the entire chip industry, CNBC's Jim Cramer said Wednesday. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. "Remember, there are semis that aren't hitting it out of the park," Cramer said on "Squawk on the Street." Analog's industrial and automotive segments — its two largest by revenue — reported good numbers Wednesday morning, Cramer said. The main culprit for the disappointment is its consumer business, Cramer added, pointing to concerns about spending on personal electronics.
Persons: CNBC's Jim Cramer, Jim Cramer's, Cramer Organizations: Devices, PHLX Semiconductor, Nvidia, Cramer's Charitable Trust, CNBC
All three major U.S stock indices pulled back this week, as earnings season wound down and retail earnings painted a mixed picture of the state of the economy. Looking to next week, we'll be watching how shares of Club name Palo Alto Networks (PANW) open on Monday. With mortgage rates hitting the highest level in over two decades this week, affordability remains a major impediment for the housing market. Earnings : Club name Foot Locker (FL) reports quarterly results Wednesday before the opening bell, while Club holding Nvidia (NVDA) releases after the close that same day. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: we'll, Locker, Mary Dillon, Lowe's, Jim Cramer's, Jim Cramer, Jim, Kelter Davis Organizations: Nasdaq, Dow Jones, TJX, Walmart, Federal Reserve, U.S, Palo Alto Networks, Palo, Club, Nvidia, Lufax, Baidu, Dick's Sporting, Coty, COTY, Urban Outfitters, Parts, Devices, Sonoma, Body, Abercrombie, Fitch, Autodesk, TD Bank, Royal Bank of Canada, Marvell Technology, Intuit, Nordstrom, Jim Cramer's Charitable, CNBC, Shoppers, Bloomberg, Getty Locations: U.S, China, Friday's, Williams, Burlington, Chicago , Illinois
AMC (AMC): judge rules in favor of APEs. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Morgan Stanley, Eli Lilly, Bang, Goldman Sachs, David Solomon, Jim Cramer's, Jim Cramer, Jim Organizations: Alto Networks, UBS, Analysts, Mounjaro, Comcast, Union, AMAT, Nvidia Boston Properties, AMC, Boeing, Bank of America, Northrop, Parsons, Beverage, HSBC, New York Times, Jim Cramer's Charitable, CNBC Locations: Susquehanna
"The drought in this village has been felt since April, and there has been no rain until now. The wells in this area have dried out, so residents can only get water from the river bed," Sunardi, who only goes by one name, told Reuters. Tobacco can live, but it doesn't grow optimally, so we have to keep watering it with the river bed water too." Sunardi's village has been digging up the river bed since June, when the water in their wells ran out. "Even if the river here is completely dry, we'll have to find it wherever it is," he said.
Persons: Heru, It's, Sunardi, Ardhasena Sopaheluwakan, El, Tris Adi Sukoco, Budi Purwanto, Johan Purnomo, Stanley Widianto, Miral Organizations: REUTERS, El, Reuters, Thomson Locations: Grobogan, Central Java, Indonesia, El Nino, Karanganyar, Java, Kalimantan, Beijing, Rome
REUTERS/Tiksa Negeri/File PhotoADDIS ABABA, Aug 7 (Reuters) - A senior Ethiopian official accused militiamen in the Amhara region of seeking to overthrow the regional and federal governments following days of fighting that led the authorities to declare a state of emergency. Clashes between Fano militiamen and the Ethiopian National Defence Force (ENDF) continued over the weekend. The conflict has quickly become Ethiopia's most serious security crisis since a two-year civil war in Tigray region, which neighbours Amhara, ended in November. Fano is a part-time militia that draws volunteers from the local population and was an ally of the ENDF during the Tigray war. Violent protests erupted across Amhara in April after Prime Minister Abiy Ahmed ordered that security forces from Ethiopia's 11 regions be disbanded and integrated into the police or national army.
Persons: Abi Adi, Amhara's, Temesgen Tiruneh, Temesgen, Legesse Tulu, Abiy Ahmed, Dawit Endeshaw, George Obulutsa, Aaron Ross, Nick Macfie Organizations: Ethiopian National Defence Force, Amhara Special Forces, REUTERS, Tiksa, Ethiopian, Fana Broadcasting, Protesters, Thomson Locations: Tigray, Tigray Region, Ethiopia, ADDIS ABABA, Amhara, Fano, Gondar, Ethiopia's
REUTERS/Jennifer Hiller/File PhotoSINGAPORE, Aug 4 (Reuters) - Surging U.S. crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows. U.S. crude exports are also easing the loss of supply after Saudi Arabia deepened output cuts from July, above what major producers agreed to in June. The widening exports illustrate the increasing influence of crude from the U.S., the world's biggest oil producer, in the global market. U.S. crude exports have averaged 4.08 million barrels per day so far in 2023, up from an average of 3.53 million bpd in 2022, according to the Energy Information Administration. PRESSURE EXTENDSThe pressure exerted from the WTI Midland exports is even extending to Asian markets for Middle Eastern crude.
Persons: Jennifer Hiller, Brent, it's, Joel Hanley, Rohit Rathod, Adi Imsirovic, John Evans, Muyu Xu, Alex Lawler, Arathy, Florence Tan, Simon Webb Organizations: REUTERS, Midland, P, Energy Information Administration, WTI Midland, United, Dubai, Surrey Clean Energy, Gazprom Marketing, Organization of, Petroleum, Exchange, Futures, Thomson Locations: Texas, U.S, SINGAPORE, Europe, Asia, Saudi Arabia, United Arab Emirates, Midland, Dubai, Africa, Brazil, Singapore, WTI, Saudi, London, Houston
REUTERS/Jennifer Hiller/File PhotoSINGAPORE, Aug 4 (Reuters) - Surging U.S. crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows. U.S. crude exports are also easing the loss of supply after Saudi Arabia deepened output cuts from July, above what major producers agreed to in June. The widening exports illustrate the increasing influence of crude from the U.S., the world's biggest oil producer, in the global market. U.S. crude exports have averaged 4.08 million barrels per day so far in 2023, up from an average of 3.53 million bpd in 2022, according to the Energy Information Administration. PRESSURE EXTENDSThe pressure exerted from the WTI Midland exports is even extending to Asian markets for Middle Eastern crude.
Persons: Jennifer Hiller, Brent, it's, Joel Hanley, Rohit Rathod, Adi Imsirovic, John Evans, Muyu Xu, Alex Lawler, Arathy, Florence Tan, Simon Webb Organizations: REUTERS, Midland, P, Energy Information Administration, WTI Midland, United, Dubai, Surrey Clean Energy, Gazprom Marketing, Organization of, Petroleum, Exchange, Futures, Thomson Locations: Texas, U.S, SINGAPORE, Europe, Asia, Saudi Arabia, United Arab Emirates, Midland, Dubai, Africa, Brazil, Singapore, WTI, Saudi, London, Houston
That compares with a 14.8% gain for the benchmark S&P 500 (.SPX). Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O), Amazon.com (AMZN.O) and Tesla (TSLA.O) combined account for 43.8% weight in the index, according to Refinitiv data as of Monday's close. The special rebalancing may be conducted at any time if the aggregate weight of companies, each having more than 4.5% weight in the index, tops 48%, according to Nasdaq. COULD THE S&P 500 FOLLOW SUIT? Apple and Microsoft are the only two firms with weight over 4.5% in the S&P 500.
Persons: Hogan, Cameron Lilja, Dow, Wells, Sam Stovall, Sruthi Shankar, Medha Singh, Bansari, David Randall, Shounak Dasgupta Organizations: Nasdaq, Microsoft, Apple, Nvidia, Riley, U.S . Securities, Exchange, Dow Jones, Tesla, Booking Holdings, Gilead Sciences, Devices, CFRA, Thomson Locations: Wells, Gilead, Bengaluru, New York
WHAT PRODUCTS CONTAIN ASPARTAME? Aspartame's use in food products has been debated for decades and has also prompted some companies to remove the compound from their products. PepsiCo (PEP.O) removed aspartame from some U.S. diet sodas. General Mills' (GIS.N) Yoplait also removed aspartame from its yogurts in 2014. Saccharin, sucralose and neotame are among five other artificial sweeteners alongside aspartame authorized by a WHO expert committee on food additives.
Persons: James Schlatter, Mills, Yoplait, Savyata Mishra, Deborah Sophia, Sriraj Kalluvila, Aurora Ellis Organizations: World Health Organization, Reuters, U.S . Food, Drug Administration, PepsiCo, FDA, National Library of Medicine, Thomson Locations: Diet, Spain, France, Italy, Denmark, Germany, Australia, New Zealand, Bengaluru
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