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☆ Block's Amrita Ahuja on Cash App growth and profits drive
  + stars: | 2023-05-05 | 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 EmailBlock's Amrita Ahuja on Cash App growth and profits driveAmrita Ahuja, Block chief financial officer, joins 'Squawk on the Street' to discuss the company's earnings beat due to a Cash App profit drive.
☆ Analysis: Fewer luxury shoppers but bigger spenders as Chinese return to Europe
  + stars: | 2023-05-05 | by ( Casey Hall Mimosa Spencer | Casey Hall | Mimosa Spencer | ) www.reuters.com   time to read: +6 min
But with flights remaining limited after China's border reopening in January, European luxury stores will need to wait longer for the return of masses of tourists they once depended on for growth. The average transaction value by Chinese travellers in Europe in March was 28% above 2019 levels, UBS said, citing data from VAT refund provider Planet. Cartier-owner Richemont (CFR.S), Hermes (HRMS.PA) and LVMH were best placed to benefit from wealthy Chinese shoppers, UBS added. As wealthy Chinese return to Europe and other foreign destinations, the appeal of China's Hainan Island, a duty free shopping hotspot, appears to be waning among top luxury spenders. China's "higher income, top luxury spenders (are) already travelling abroad again," she said, leading to an observable lower per-capita spend in Hainan.
☆ Oil prices slide as markets worry about a recession ahead of expected rate hike from the Fed
  + stars: | 2023-05-03 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +2 min
US oil prices slid below $70 a barrel on Wednesday ahead of the Fed's rate hike decision. That comes amid growing fears of a recession in the US, as high rates threaten to overtighten the economy. The likelihood of a recession within the next 12 months has jumped to nearly 60%, according to the New York Fed Recession Probability Index. Still, she added oil could rebound in the second half of the year as supply cuts from OPEC+ producers push prices upward. That could lead WTI crude to top $100 a barrel by the end of the year, she said, even in the event of a mild recession.
☆ Oil demand is hitting record levels and we aren't investing enough in supplies: Energy Aspects' Sen
  + stars: | 2023-04-17 | 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 EmailOil demand is hitting record levels and we aren't investing enough in supplies: Energy Aspects' SenAmrita Sen, founder and director of research at Energy Aspects, joins CNBC's 'Squawk Box' to discuss where oil prices currently rest, the IEA's recent warning on global oil demand, and more.
☆ OPEC is very clearly defending a floor with surprise output cut: Energy Aspects
  + stars: | 2023-04-03 | 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 EmailOPEC is very clearly defending a floor with surprise output cut: Energy AspectsAmrita Sen, co-founder and director of research at Energy Aspects, discusses OPEC's output cut and says it is not a "set in stone" decision for the rest of the year.
☆ OPEC+ announces surprise oil cuts, while U.S. calls the move inadvisable
  + stars: | 2023-04-02 | by ( ) www.cnbc.com   time to read: +2 min
Crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco's Ras Tanura oil refinery and oil terminal in 2018. Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move that analysts said would cause an immediate rise in prices and the United States called inadvisable. Oil prices last month fell towards $70 a barrel, the lowest in 15 months, on concern that a global banking crisis would hit demand. The latest reductions could lift oil prices by $10 per barrel, the head of investment firm Pickering Energy Partners said on Sunday, while oil broker PVM said it expected an immediate jump once trading starts after the weekend. The Saudi energy ministry said the kingdom's voluntary reduction was a precautionary measure aimed at supporting the stability of the oil market.
☆ Hindenburg takes aim at Dorsey's payments firm Block, shares plunge
  + stars: | 2023-03-23 | by ( Manya Saini | ) www.reuters.com   time to read: +5 min
Block shares fell as much as 22% before paring losses and were last down 14% at $62.61 in afternoon trading. After reviewing the full report, Block said it was "designed to deceive and confuse investors". Hindenburg said that Block "obfuscates" how many individuals are on the Cash App platform by reporting misleading "transacting active" metrics filled with fake and duplicate accounts. The app had 51 million monthly transacting actives, a 16% year-over-year increase during December 2022, Block said in fourth-quarter earnings letter. "What I am really concerned about is the Cash App, accusations of fraud, multiple accounts, opening accounts and fake names.
☆ Hindenburg shorts Jack Dorsey's payments firm Block, shares plunge
  + stars: | 2023-03-23 | by ( ) www.reuters.com   time to read: +2 min
[1/2] The logo of Cash App is seen at the main hall during the Bitcoin Conference 2022 in Miami Beach, Florida, U.S. April 6, 2022. REUTERS/Marco BelloMarch 23 (Reuters) - Hindenburg Research on Thursday disclosed short positions in Block Inc (SQ.N) and alleged that the Jack Dorsey-led payments firm overstated its user numbers and understated its customer acquisition costs. Shares of Block slid 20% to $57.85 in premarket trading following the report. Hindenburg added that Block "obfuscates" how many individuals are on the Cash App platform by reporting misleading "transacting active" metrics filled with fake and duplicate accounts. Founded in 2017 by Nathan Anderson, Hindenburg is a forensic financial research firm that analyses equity, credit and derivatives.
☆ China's soaring domestic demand for oil will continue, analyst says
  + stars: | 2023-03-07 | 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 EmailChina's soaring domestic demand for oil will continue, analyst saysAmrita Sen of Energy Aspects says Chinese product exports like diesel are set to plummet in March — a sign that domestic demand for oil is growing.
☆ Block CFO weighs in on the company's mixed earnings report
  + stars: | 2023-02-27 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlock CFO weighs in on the company's mixed earnings reportAmrita Ahuja, Block CFO and COO, joins 'Squawk Box' to discuss the company's recent performance, the current pressure on financial technology, and more.
☆ We expect a lot higher prices at the pump this summer: Energy Aspects founder
  + stars: | 2023-02-27 | 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 EmailWe expect a lot higher prices at the pump this summer: Energy Aspects founderAmrita Sen, founder and director of research at Energy Aspects, joins 'Squawk Box' to discuss the forecast for WTI crude prices, where gas prices go throughout the year, and more.
☆ Block sharpens focus on Cash App in 2023
  + stars: | 2023-02-27 | by ( ) www.businessinsider.com   time to read: +2 min
The 15% year-over-year (YoY) increase is down from 45% the same period a year ago . How we got here: Three factors contributed to Block’s Q4 performance. With these expansions, gross profit outside of the US accounted for 17% of Square’s total profit in Q4, compared with just 9% in Q4 2021. Unlike other big-name fintechs, Block didn’t announce layoffs in recent months, which may point to the strength of its business model and its performance outlook. It anticipates this segment’s expenses to grow between 5% and 10% this year, driven by Cash App.
☆ Sen: The oil markets will tighten due to no more SPR releases and Chinese demand, but that will likely be in the second half of the year
  + stars: | 2023-02-22 | 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 EmailSen: The oil markets will tighten due to no more SPR releases and Chinese demand, but that will likely be in the second half of the yearEnergy Aspects co-founder & head of research Amrita Sen discusses how the global energy market has been reshaped in the year since Russia invaded Ukraine, and the potential risks to prices this year.
☆ Clean energy can't come at the cost of economic growth, says Energy Aspects' Amrita Sen
  + stars: | 2023-01-24 | 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 EmailClean energy can't come at the cost of economic growth, says Energy Aspects' Amrita SenAmrita Sen, founder and director of research at Energy Aspects, joins CNBC's 'Squawk Box' to discuss the outlook for natural gas and energy demand.
☆ Oil outlook is largely dependent on China's reopening, says Energy Aspects' Amrita Sen
  + stars: | 2023-01-19 | 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 EmailOil outlook is largely dependent on China's reopening, says Energy Aspects' Amrita SenDan Pickering, chief investment officer at Pickering Energy Partners, and Amrita Sen, co-founder and head of research at Energy Aspects, join 'The Exchange' to discuss growing oil demand in China, 2023 projections for oil and opportunities in small cap energy stocks.
☆ Watch CNBC's full interview with Energy Aspects' Amrita Sen and Pickering Energy Partners' Dan Pickering
  + stars: | 2023-01-19 | 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 EmailWatch CNBC's full interview with Energy Aspects' Amrita Sen and Pickering Energy Partners' Dan PickeringDan Pickering, chief investment officer at Pickering Energy Partners, and Amrita Sen, co-founder and head of research at Energy Aspects, join 'The Exchange' to discuss growing oil demand in China, 2023 projections for oil and opportunities in small cap energy stocks.
☆ Engineer saw how diapers were made, thought she could do better—now she has a $250,000 'Shark Tank' deal
  + stars: | 2023-01-10 | by ( Megan Sauer | ) www.cnbc.com   time to read: +4 min
In 2012, Amrita Saigal quit her dream job. In 2021, she launched Los Angeles-based Kudos, which makes disposable diapers from cotton and other sustainable materials — and on Friday's episode of ABC's "Shark Tank," she scored a $250,000 investment in Kudos from Mark Cuban and guest Shark Gwyneth Paltrow. Saigal also expressed plans to launch new products, including trainer swim shorts and adult sanitary products. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank." Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss:This ‘Shark Tank’ side hustle had almost zero revenue — here’s why Mark Cuban invested anyway17-year-old ‘Shark Tank’ contestant made slime in his garage, sold it to his friends, brought in $1 million in just 3 years
☆ Energy Aspects' Amrita Sen explains why she expects higher energy prices in 2023
  + stars: | 2022-12-23 | 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 EmailEnergy Aspects' Amrita Sen explains why she expects higher energy prices in 2023Amrita Sen, founder and director of research at Energy Aspects, joins CNBC's 'Squawk Box' to break down her forecast for energy prices in 2023 and more.
☆ China reopening from zero-Covid will 'very, very bullish' for oil markets, says Amrita Sen
  + stars: | 2022-12-12 | 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 EmailChina reopening from zero-Covid will 'very, very bullish' for oil markets, says Amrita SenAmrita Sen, Energy Aspects founder, joins CNBC's "Squawk Box" to discuss the energy markets and her outlook on crude oil prices.
☆ OPEC+'s decision to 'hold steady' on oil policy was the right one, energy consultancy says
  + stars: | 2022-12-05 | 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 EmailOPEC+'s decision to 'hold steady' on oil policy was the right one, energy consultancy saysAmrita Sen of Energy Aspects says that's "especially if you don't know how much … Russian production is going to fall after today."
☆ Oil prices rose as much as 2% on hopes of China's reopening and as OPEC+ maintains output cut targets
  + stars: | 2022-12-05 | by ( Lee Ying Shan | ) www.cnbc.com   time to read: +1 min
A pump jack on an oil field owned by Bashneft company near the village of Nikolo-Berezovka, northwest from Ufa, Bashkortostan, Russia, in 2015. The Group of Seven's price cap of $60 for Russian seaborne oil and a ban on Russian crude kicked in on Monday. Oil prices climbed as much as 2% on Monday after China signaled a broader relaxation of Covid curbs, OPEC+ announced its decision not to change oil production targets, and a price cap on Russian oil took effect. The Group of Seven's price cap of $60 for Russian seaborne oil and a ban on Russian crude kicked in on Monday. The Kremlin had previously threatened that it will not supply oil to countries setting and endorsing the price cap.
☆ EU sanctions on Russian oil take effect on Monday - here's what to expect and why the price cap may not yield any real results
  + stars: | 2022-12-02 | by ( Brian Evans | ) www.businessinsider.com   time to read: +4 min
EU officials have agreed to set a price cap on Russian oil at $60 a barrel. Starting Monday, seaborne imports of Russian oil into the EU will be banned, as will European insurance and shipping services for vessels carrying Russian oil anywhere in the world. How would the oil price cap work? At the same time, the EU, G7 member countries, and Australia are participating in the price cap on Russian oil. But the EU ban on Russian oil supersedes a price cap, Energy Aspects analyst Amrita Sen has pointed out.
☆ Oil prices could fall without further OPEC+ cut, analysts say
  + stars: | 2022-12-01 | by ( Ahmad Ghaddar Rowena Edwards | Ahmad Ghaddar | Rowena Edwards | ) www.reuters.com   time to read: +3 min
The group agreed in early October to cut its oil production target by 2 million bpd from November until the end of 2023. Given production restraints on some members of the alliance, the actual cut the group is expected to deliver is closer to between 1 million and 1.1 million bpd. "A further cut in production cannot ... be ruled out," PVM Oil analyst Stephen Brennock said. "Failure to do so risks sparking another selling frenzy," he added, without saying how low he thought prices could go. Amrita Sen, co-founder of consultancy Energy Aspects, told bank Jefferies that she did not expect OPEC+ to change tack yet.
☆ Energy prices slide following China's reported Covid-19 deaths
  + stars: | 2022-11-21 | 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 EmailEnergy prices slide following China's reported Covid-19 deathsAmrita Sen, founder and director of research at Energy Aspects, joins CNBC's 'Squawk Box' to weigh in on the moves in oil prices, which are lower after China reported its first Covid-19 deaths in months.
☆ Asian Americans have some of the highest levels of support for abortion rights — and it's driving them to vote
  + stars: | 2022-11-05 | by ( Sakshi Venkatraman | Sakshi Venkatraman Is A Reporter For Nbc Asian America. | ) www.nbcnews.com   time to read: +9 min
With studies finding that Asian American and Pacific Islanders show some of the highest levels of support for abortion rights, community leaders are expecting this issue to drive Asian Americans to the polls — many for the first time ever. “AAPIs view abortion not as the singular act of abortion, but as health care,” said Varun Nikore, executive director of the nonprofit AAPI Victory Alliance. While some researchers point to flaws in the polling (most notably that Pew only surveyed English speakers), they say there’s no doubt that Asians show the highest level of support when it comes to abortion rights. “That tells me that abortion rights and reproductive rights are likely what’s driving that prioritization,” said Karthick Ramakrishnan, founder and director of demographic data and policy research at AAPI Data. A younger crop of Asian voters newly engaged by the Dobbs ruling are initiating these conversations with their elders, too.
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