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☆ Head of OPEC warns of a 'dangerous' lack of investment in oil that risks raising oil prices
▼ + stars: | 2023-10-02 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The head of the Organization of the Petroleum Exporting Countries — a group of the world’s major oil producers — told CNN Monday that a lack of investment in the oil industry posed a danger to global energy security and could send crude prices to $100 a barrel. “By underinvesting, we are actually endangering energy security… Without this [investment], I think there are serious possibilities that prices, the volatility, will be increasing as demand grows,” he said. “We have to make sure that the world has enough energy — stable, affordable, reliable, not intermittent sources of energy,” he added. The comments come just a week after the International Energy Agency predicted that global demand for oil, natural gas and coal was likely to peak by 2030. Al Ghais said hitting that reduction target would be a “monumental challenge” given that fossil fuel consumption as a proportion of global energy demand had barely budged in 30 years.

Persons: —, Haitham Al Ghais, CNN’s Becky Anderson, ”, Brent, Al Ghais, ” Al Ghais, Fatih Birol Organizations: London CNN, Organization of, Petroleum, CNN, International Energy Agency, IEA Locations: Abu Dhabi, Underinvestment, Saudi Arabia, Russia

☆ 'It's the economy, stupid': 5 reasons why investors should stay bullish on the stock market
▼ + stars: | 2023-10-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

AdvertisementAdvertisementDespite rising interest rates, higher oil prices, and ongoing labor strikes, investors should stay bullish on the stock market. But since 2021, 50% more large caps have become small caps than small caps becoming large caps (the reverse of prior decades), suggesting a purge of weaklings. comparing the earnings yield based on the S&P 500 PE of 20x to nominal Tsy yields of 5%. "The equal-weighted S&P 500 ERP is 50bp+ higher than the cap-weighted S&P 500, and trades at 17x on trough earnings. The equal-weighted S&P 500 also almost always beat the cap-weighted S&P 500 in past 'Recovery' cycles."

Persons: Bank of America's Savita Subramanian, Subramanian, —, Savita Subramanian Organizations: Bank of America's, Service, Bank of, Boomers

WASHINGTON (AP) — The Biden administration on Friday is expected to release a playbook on best practices for training workers as the low 3.8% unemployment rate and years of underinvestment have left manufacturers, construction firms and other employers with unfilled jobs. As part of the 2021 pandemic rescue package, state and local governments have committed $11 billion to worker training. The eight-page playbook being issued in conjunction with the remarks details possible models that the administration believes state and local governments can follow. Money also is going to supportive services for child care and transportation, which are two of the big reasons why people are unable to complete training or stay on the job. Iowa is making $26.6 million available to help employers make child care available, while Phoenix's airport is offering child care scholarships to workers.

Persons: —, Biden, underinvestment, Joe Biden, Veronica Soto Organizations: WASHINGTON, Treasury Department, The Associated Press, Labor Department Locations: Harris County , Texas, Maine, Oklahoma, Connecticut, Iowa, Phoenix's

☆ Russia and Saudi Arabia have likely made close to $3 billion this quarter as OPEC+ production cuts push oil toward $100 a barrel
▼ + stars: | 2023-09-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia and Saudi Arabia have made billions in additional oil revenue after their production cuts lifted prices. Meanwhile, Saudi Arabia has likely pulled in about $2.6 billion in extra revenue. AdvertisementAdvertisementRussia and Saudi Arabia have likely pulled billions in additional oil revenue after steep oil production cuts lifted crude prices. Then, Saudi Arabia and Russia implemented their own voluntary production cuts this summer, with Saudi Arabia slashing production by 1 million barrels a day while Russia slashed production by half a million barrels a day. Analysts have said crude prices could quickly be on track to notch $100 a barrel next year, thanks to underinvestment and chronic undersupply in the industry.

Persons: — Organizations: Service, Wall Street Journal, UAE, Brent, West Texas Intermediate, Saudi Locations: Russia, Saudi Arabia, OPEC, Ukraine

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

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

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

☆ There's 'no case' for underinvestment in oil and gas in India, says Indian oil company
▼ + stars: | 2023-09-21 | 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 EmailThere's 'no case' for underinvestment in oil and gas in India, says Indian oil companyArun Kumar Singh, CEO of the Oil and Natural Gas Corporation, says that's because the country's economy is "doing very well" and will continue to consume a lot of oil and gas.

Persons: Arun Kumar Singh Organizations: Natural Gas Corporation Locations: India

Saudi Arabia has spearheaded efforts to support prices, making large voluntary output cuts as part of a production deal agreed by the OPEC+ producer group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia. Saudi Arabia's previous announcements have come ahead of its official selling prices, which typically emerge in the first week of the month. Russian Deputy Prime Minister Alexander Novak, meanwhile, has said that Moscow had agreed with OPEC+ partners on the parameters for continued export cuts in October. Saudi Arabia and Russia could withdraw the cuts at any point, said OANDA analyst Craig Erlam, "but I can't imagine they'll be in any rush and risk sending the price tumbling again." The oil market is vulnerable to price spikes due to low inventories and underinvestment in new oilfields, a senior official at global commodities trading firm Trafigura (TRAFGF.UL) said on Monday.

Persons: Alexander Novak, Craig Erlam, Brent, Russell Hardy, Xi, John Evans, Stephanie Kelly, Paul Carsten, Natalie Grover, Mohi Narayan, Yousef Saba, Andrew Hayley, Jason Neely, David Goodman, Mike Harrison Organizations: Companies, U.S . Federal, of, Petroleum, Saudi, . West Texas, . U.S, Federal, Thomson Locations: Companies Saudi Arabia, Russia, Saudi Arabia, OPEC, Moscow, India, Kuwait, Jizan, Oman, China, ., New York, London, New Delhi, Dubai, Beijing

☆ Nigeria's Tinubu to attend G20 summit in India to promote investment
▼ + stars: | 2023-09-01 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Lewis Joly/Pool via REUTERS/File Photo Acquire Licensing RightsABUJA, Sept 1 (Reuters) - Nigeria's President Bola Tinubu plans to attend the G20 summit in India this month to try to promote foreign investment in Africa's largest economy and mobilize global capital to develop infrastructure, his spokesman said on Friday. The summit in India will hold on Sept 9 and 10. Ngelale said Tinubu will meet leaders from Brazil, India, South Korea and Germany on the sidelines of the G20. Tinubu also plans to meet Indian executives, including Jindal Steel and Power Company, among others, Ngelale said.

Persons: Bola Tinubu, Lewis Joly, Tinubu, Ajuri Ngelale, Ngelale, India's Bharti, Joe Biden, Felix Onuah, Chijioke Ohuocha, Cynthia Osterman Organizations: New Global Financial, Rights, Jindal Steel, Power Company, India's, India's Bharti Airtel, U.S, United Nations General Assembly, Thomson Locations: Nigeria, Paris, France, Rights ABUJA, India, West African, Brazil, South Korea, Germany, Africa, New York

REUTERS/Robert Galbraith/File Photo Acquire Licensing RightsORLANDO, Florida, Aug 30 (Reuters) - To buy back, or not to buy back. The highest U.S. interest rates in over 20 years coupled with Wall Street's remarkable resilience has brought an old boardroom dilemma into sharp focus: are share buybacks worth it? Ditto Apple, Chevron, Alphabet and Wells Fargo, which this year have announced buybacks of $90 billion, $75 billion, $70 billion and $30 billion, respectively. Figures from Refinitiv show that S&P 500 companies spent more than $6 trillion on stock buybacks in the decade through 2022. Reuters Image Acquire Licensing Rights(The opinions expressed here are those of the author, a columnist for Reuters.)

Persons: Robert Galbraith, Joe Kleven, Ali Ragih, Nicholas Guest, Kothari, Parth Venkat, Jamie McGeever Organizations: Nvidia, REUTERS, Rights, U.S, Chevron, Mega Tech, Marathon Petroleum, VerityData, Reuters, Apple, Microsoft, Google, Corporate, Cornell University, S.P, Massachusetts Institute of Technology, University of Alabama, Thomson, & ' $ Locations: Santa Clara , California, Rights ORLANDO , Florida, Wells, YCharts, VerityData, U.S, underperformed

☆ JPMorgan says buy this restaurant stock that can go up nearly 20%
▼ + stars: | 2023-08-21 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

JPMorgan thinks Restaurant Brands International is poised for more growth. The firm initiated coverage of the restaurant conglomerate with an overweight rating in a Monday note, accompanied by an $82 per share price target. The analyst added that the breadth of company growth will be driven by the internationally-exposed businesses including Burger King, Tim Hortons and Popeyes. Restaurant Brands has has added 6% in 2023. QSR YTD mountain Restaurant Brands has added more than 6% in 2023.

Persons: John Ivankoe, Tim Hortons, Burger King, Patrick Doyle, Ivankoe, — CNBC's Michael Bloom Organizations: JPMorgan, Brands Locations: capex, Burger

☆ Democrats are increasingly optimistic about the IRS' plan to offer free tax prep software and break TurboTax and H&R Block's stranglehold
▼ + stars: | 2023-08-14 | by ( Madison Hall | ) www.businessinsider.com time to read: +5 min

A small part of the Inflation Reduction Act instructed the IRS to look into developing a free tax filing program. According to a Bloomberg Second Measure report, TurboTax is by far the most popular tax filing service with a 73 percent market share in May 2021. "The Free File program, which was created in partnership with tax preparation companies, clearly has not been successful in over two decades." Intuit, which makes TurboTax, and H&R Block both pulled out of the Free File Alliance during the pandemic. "Americans will be powerless when the IRS completely controls the tax filing process from start to finish."

Persons: It's, Joe Biden, Don Beyer, Beyer, Katie Porter, it's, Porter, Sen, Elizabeth Warren, Jason Smith Organizations: IRS, Service, Privacy, Democratic, Internal, Bloomberg, Coalition For Free, Rep, Alliance, Intuit, Office, Republican, Biden Administration Locations: Wall, Silicon, California

☆ Goldman Sachs' Jeff Currie, who predicted commodities supercycle, to retire
▼ + stars: | 2023-08-07 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 7 (Reuters) - Goldman Sachs' (GS.N) global head of commodities research Jeff Currie, a prominent analyst who accurately predicted a surge in commodity prices in the 2000s, is retiring, according to a memo seen by Reuters. Julian Salisbury, chief investment officer of its asset and wealth management arm, is departing to join investment firm Sixth Street, according to an announcement last month. His forecast was borne out in what would become known as the commodities supercycle, during which crude oil surged to record highs in 2008. More recently, Currie revived his prediction for another supercycle fuelled by pandemic stimulus measures and rebounding economic activity. Currie joined Goldman in 1996 and was promoted to managing director in 2002, then partner in 2008.

Persons: Goldman Sachs, Jeff Currie, Currie, Julian Salisbury, Jan Hatzius, Goldman, Dina Powell McCormick, Lisa Opoku, Saeed Azhar, Lananh Nguyen, Sam Holmes Organizations: Reuters, Sixth, Reuters Commodities Summit, University of Chicago's Energy Policy Institute, Goldman, Thomson

☆ US sees price cap on Russian oil working despite upturn in prices
▼ + stars: | 2023-08-03 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Aug 3 (Reuters) - The United States remains confident that the Group of Seven's price cap on Russian oil is working to squeeze Moscow's revenues and stabilize energy markets despite a recent upturn in prices, a senior U.S. Treasury official said on Thursday. Van Nostrand said Russian data showed federal government oil revenues were nearly 50% lower in the first half of 2023 than a year earlier, and Russian oil was trading at "a significant discount" to Brent oil. Van Nostrand said the average reported price for Russian Urals had hovered around $60, the level of the price cap, despite widespread expectations that the price would rise in the second half of 2023, and despite recent price increases. Van Nostrand said the cap was continuing to limit Russian revenues, while giving "non-coalition buyers additional leverage to negotiate prices down." Still, Van Nostrand said Washington understood that markets could change rapidly, and Russia would keep trying to evade the price cap.

Persons: Eric Van Nostrand, Van Nostrand, Washington, Andrea Shalal, Timothy Gardner, David Gregorio Our Organizations: Treasury, Economic, European Union, Russian, Russia's Finance Ministry, Thomson Locations: United States, U.S, Russia, Ukraine, Washington, Australia, Brent, Russian Urals, Saudi Arabia, OPEC, China

☆ Feds vote to reduce bottlenecks in connecting new power sources to the energy grid
▼ + stars: | 2023-07-31 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

Also, power generators will have to meet certain requirements to keep their place in the queue, including a financial deposit. Deadlines and penalties for transmission providers: Transmission providers will have strict deadlines to to respond to power generators waiting in the queue, and will face penalties if they miss those deadlines. Also, power generators will be able to add a source of power to a single interconnection request. It can be so expensive to build new transmission, sometimes power generators can't afford the cost and have to cancel their power generation plans completely. Also, power generators wait for an average of five years in these queues because grid operators are flooded with interconnection queue applications.

Persons: Jeffrey Lamb, LADWP, Al Seib, George Rose, Rob Gramlich, Gramlich, Joseph Rand, Rand, Gregory Wetstone Organizations: Sylmar, Pacific DC, Los Angeles Department of Water, Los Angeles Times, Getty, Aera Energy, CNBC, Lawrence Berkeley National Laboratory, FERC, Vw, American, Renewable Energy Locations: Columbia, Oregon, California, Southern California, Angeles, Los Angeles , CA, CA, San Joaquin Valley, McKittrick , California, North, Lost, Kern County, Bakersfield, United States, Milford , Utah, Milford, Smithfield, ACORE

☆ War with China would be an 'onslaught' like the US hasn't faced in decades
▼ + stars: | 2023-07-27 | by ( Jake Epstein | Jacob Zinkula | ) www.businessinsider.com time to read: +15 min

War would also have severe consequences for China and US allies in the Western Pacific. Any war with China would be fought on multiple fronts — from the air and sea to the web and financial markets. The US maintained this capacity for decades, but America's manufacturing prowess has atrophied since the end of the Cold War. Control of the Pacific would be a crucial part of any war with China, and Beijing boasts the world's largest navy. Cash warsWhile a military conflict between the US and China is only a hypothetical, the two countries are already competing on the economic battlefield.

Persons: Joe Biden, Mark Milley, Dan Blumenthal, it's, Blumenthal, Ujian, didn't, Glenn O'Donnell, Forrester, stymie, Ann Wang, William Alan Reinsch, Reinsch, Russia —, Scott Kennedy, Kennedy, aren't, Ramping, Jake Epstein, Jacob Zinkula Organizations: US, Joint Chiefs of Staff, Armed, US Navy, American Enterprise Institute, US Department of Defense, US Marine Corps, Pentagon, Navigation Plan, Ford, Nimitz, Center for Strategic, International Studies, Beijing, Russia, Columbia University, Marine Locations: China, Western, Beijing, Pacific, Taiwan, South China, America, Nebraska, Pearl, Normandy, Mongolia, Ukraine, Russian, Nanchang, Liaoning, Shandong, Fujian, wean, Washington, United States, Japan, Philippines, Netherlands

☆ Focus: In Mexico, private cash races to plug nearshoring energy crunch
▼ + stars: | 2023-07-26 | by ( Isabel Woodford | Thomson Reuters | Isabel Is A British-Spanish Journalist Based In Mexico City. She Joined Reuters In As Part Of The Latin America News Hub | ) www.reuters.com time to read: +7 min

Sergio Arguelles, president of the Mexican Association of Private Industrial Parks (AMPIP), said parks' investment in state energy assets today is unprecedented. "Mexico would be very well positioned to take advantage of nearshoring if it didn't have such an energy problem," he said. THE SHRINKING STATEMexico's approach to its groaning electricity grid is in contrast to its fast-growing peers, which tend to either incentivize private energy contractors or have state utility companies with deep pockets. Still, there is some hope for the new wave of 47 planned industrial parks. Yet critics say Mexico's push for state control over energy distribution while also neglecting it is self-sabotage.

Persons: Daniel Becerril, Sergio Bermudez, Barbie, Mattel, Bermudez, …, Eduardo Martinez, Sergio Arguelles, Aaron Gallo, Gallo, Andres Manuel Lopez Obrador's, David Gantz, Electrobras, AMPIP's Arguelles, Lopez Obrador, Ramses Pech, Hans Joachim Kohlsdorf, Zonia Torres, Alfredo Nolasco, Isabel Woodford, Marguerita Choy Organizations: Federal Electricity Commission, REUTERS, MEXICO CITY, Unilever, Mexican Association of Private Industrial Parks, American Industries, Industries, CFE, U.S, Baker Institute, Thomson Locations: Mexico's, Santa Catarina, Monterrey, Mexico, MEXICO, Nuevo Leon, Brazil, Guanajuato

☆ How investors can get ahead by listening to a company's earnings conference call
▼ + stars: | 2023-07-23 | by ( Zev Fima | ) www.cnbc.com time to read: +20 min

Commentary on the results Almost all calls begin with a discussion of the reported results. The reported quarter ended May 31 and the call was hosted on June 30, a full month after the quarter ended. By listening into the call, an investor could see that the reported results did not tell the full story around Wynn's business in China. As with the reported results, any comments on supply chains and customer dynamics could prove relevant to the direction of the stock. It can be quantitative, by which management provides actual targets for sales, earnings, and/or industry metrics.

Persons: —, they've, Gamble, Jeff Miller, Mark Zuckerberg, Zuckerberg, takeaways, It's, Jim Cramer's, Jim Cramer, Jim, sasirin Organizations: Procter, TJX, Devices, Club, Constellation Brands, Wynn Resorts, WYNN, Halliburton, HAL, Microsoft, Apple, Linde, LIN, Management, Coterra, Investors, Nvidia, Jim Cramer's Charitable, CNBC, iStock, Getty Locations: Macao, China, overspending

☆ Oil and gas will continue to power the world for decades to come, big oil firms say
▼ + stars: | 2023-06-30 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

"We think the biggest realization that should come out of this conference ... is oil and gas are needed for decades to come," said John Hess, CEO of U.S. oil company Hess Corporation. A.S. Sahney Executive Director of Indian Oil CorporationHess said oil and gas are key to the world's economic competitiveness, as well as an affordable and secure energy transition. "The world is facing a structural deficit in energy supply, in oil and gas, in clean energy," he said. "That shows our belief in [the] continuance of fuel," the executive director said, acknowledging that energy transition is here to stay. Oil demand an 'ancient story'Commodities trading firm Vitol is less bullish, predicting that demand for crude will peak in 2030 — two years later than the IEA's forecast.

Persons: John Hess, Hess, Indian Oil Corporation Hess, Haitham Al Ghais, Erin McGrath, Dan Yergin, TotalEnergies, Patrick Pouyanne, Amin Nasser, Russell Hardy, Russia's Organizations: Barcroft Media, Getty, Energy Asia, Hess Corporation, International Energy Agency, Sahney, Indian Oil Corporation, OPEC's, Hess Corp, Energy Asia Summit, Bloomberg, ExxonMobil, CNBC, U.S, Commodities, EV Locations: Lake, China's Jiangsu, Malaysia's, Kuala Lumpur, India, A.S, Malaysia, Asia, Africa, America, Europe, China, Korea, Japan, Vietnam, Saudi Arabia's, Aramco

☆ Thames Water: The company supplying water to millions of Londoners is in deep trouble
▼ + stars: | 2023-06-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Britain’s biggest water supplier said Wednesday it needed to raise more cash from investors, as UK media reported the government was preparing contingency plans to rescue the company. Thames Water provides drinking water and waste water services to 15 million customers in London and the southeast of England. Thames Water received £500 million ($635 million) from shareholders in March, but said Wednesday it would need more. Ofwat said it was in “ongoing discussions” with Thames Water “on the need for a robust and credible plan to turn the business around.”“We will continue to focus on protecting customers’ interests,” it added. We prepare for a range of scenarios across our regulated industries — including water — as any responsible government would.”The spokesperson added that the UK water sector “as a whole is financially resilient.”Thames Water says about 24% of the water it supplies to customers is lost through leakage.

Persons: London CNN —, Sarah Bentley, “, Ofwat, ” Organizations: London CNN, Thames Water, Thames, Ofwat, UK Treasury, Sky News, CNN, Ontario, Columbia Investment Management Corporation Locations: London, England, Abu Dhabi

☆ C.D.C. Director Rochelle Walensky Shares a Message About Covid and Public Health - The New York Times
▼ + stars: | 2023-06-27 | by ( Rochelle P. Walensky | ) www.nytimes.com time to read: +3 min

All of this is made easier with strong institutions and a strong public health work force. Some estimates suggest we are 80,000 public health workers short across the ‌United States to meet basic public health needs. ‌To this day some of our public health data systems‌‌ are reliant on old fax machines‌. The responsibility of the public health community and its leaders to articulate strategy and communicate regularly with the public has also never been more apparent. We felt our primary audience was mostly health scientists, academics and public health practitioners, and our initial pandemic messages were frequently speaking to those scientifically attuned.

Persons: leaders‌, ‌, underfunding Organizations: ‌, Chickasaw Nation Locations: U‌nited, United States, Bronx, Montana, Chickasaw, Oklahoma, Guam

☆ OPEC says oil demand will hit 110 million barrels per day in 2045
▼ + stars: | 2023-06-26 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

In October last year, the oil cartel announced its decision to cut output by two million barrels per day. Joe Klamar | Afp | Getty ImagesKUALA LUMPUR — Global oil demand will rise to 110 million barrels a day in about 20 years, pushing the world's energy demand up by 23%, said OPEC on Monday. "In our worldwide outlook, we see global oil demand rising to 110 million barrels a day by 2045," he said, adding that oil will still comprise about 29% of the energy mix by then. Stock Chart Icon Stock chart iconThe forecast contradicts the International Energy Agency's predictions of annual demand growth thinning down from 2.4 million barrels per day in 2023 to 400,000 barrels per day in 2028. Two weeks ago, the IEA projected that global oil demand will increase 6% from 2022 to 105.7 million barrels per day in 2028 on the back of petrochemical and aviation sectors.

Persons: Joe Klamar, Haitham Al Ghais, Al Ghais, Al Ghais OPEC's Organizations: Afp, Getty, of, Petroleum, Energy Asia, International Energy, IEA, Gas Locations: OPEC, KUALA LUMPUR, Malaysian, Kuala Lumpur

☆ Britain's underfunded National Health Service linked to earlier deaths, study says
▼ + stars: | 2023-06-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

The NHS has come under increasing pressure over recent years due to higher demand for services and funding and personnel shortages — issues further exacerbated by the Covid-19 pandemic. Chronic underinvestment in the U.K.'s National Health Service means Britons are likely to die sooner from serious diseases than patients in other rich nations, according to a new study. The U.K. "performs poorly" compared to OECD nations on combatting conditions such as cancer and heart disease, resulting in higher-than-average rates for both preventable and treatable mortality, the report published Monday by the King's Fund health think tank found. Among the 19 countries studied, the U.K. was found to lag behind most of its peers on life expectancy, although the report notes that this is an issue significantly affected by factors beyond the direct control of any health system. Britain's "below average" healthcare outcomes are due to "below average" investment in physical resources, including Magnetic Resonance Imaging (MRI) scanners and hospital beds, low levels of clinical staff and being "heavily reliant" on foreign-trained staff, researchers found.

Persons: NHS — Organizations: NHS, National Health Service, OECD, King's Locations: Austria, Belgium, Germany

☆ Beauty and tech company Oddity, which runs Il Makiage, files to go public
▼ + stars: | 2023-06-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Beauty and tech company Oddity, which runs the Il Makiage and Spoiled Child brands, filed to go public Friday as the once-frozen IPO market warms up. In the three months that ended March 31, the company saw $165.65 million in revenue, up from $90.41 million in the year-ago period. In fiscal 2022, Oddity brought in $324.52 million in sales and saw a net income of $21.73 million, or $5.94 a share. In 2020, it saw $110.64 million in sales and a net income of $11.71 million, or $3.45 a share. E.L.F., a multibrand beauty company, saw $144.94 million in sales in fiscal 2014 and a net loss of $2.88 million.

Persons: didn't, Oran Holtzman, Shiran Holtzman, Lindsay Drucker Mann, Goldman Sachs, Child's, Holtzman Organizations: Nasdaq, Goldman, CNBC, Israeli Defense Forces, Technologists Locations: Israel, U.S, Canada, Europe, Australia

☆ Biggest surprise as CEO is how much opportunity we still have left, says Restaurant Brands' Kobza
▼ + stars: | 2023-06-21 | 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 EmailBiggest surprise as CEO is how much opportunity we still have left, says Restaurant Brands' KobzaJosh Kobza, Restaurant Brands International CEO, joins 'Squawk Box' to discuss what's surprised Kobza most as chief executive for the past three months, the international aspect of Restaurant Brand's business, and complaints about underinvestment in Burger King.

Persons: Josh Kobza, what's, Kobza Organizations: Restaurant Brands Locations: Burger King

☆ CNBC Daily Open: Rethinking the rally
▼ + stars: | 2023-06-21 | 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. Rally haltedU.S. markets closed in the red Tuesday, halting a rally that drove stocks to their highest levels in more than a year. The UK 'doom loop'The U.K. economy is trapped in a growth "doom loop," according to the country's Institute for Public Policy Research. The International Monetary Fund expects the U.K. economy to grow 0.4% this year.

Persons: Germany's DAX, Eli Lilly, Thali, Narendra Modi, Joe Biden, Biden, Tim Cook, Alphabet's Sundar Pichai, Satya Nadella, Raj Subramaniam, Goldman Sachs, Goldman Organizations: New York Stock Exchange, CNBC, Dice Therapeutics, country's Institute for Public Policy Research, Monetary Fund, U.S, House Locations: New York City, San Francisco, India, China

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