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☆ Annette Bening Knows a Thing or Two About Difficult Women
▼ + stars: | 2023-10-19 | by ( Ligaya Mishan | ) www.nytimes.com time to read: +111 min

© TriStar/Everett Collection Bening and Warren Beatty in “Bugsy.” Everett Collection Bening in “American Beauty” (1999). © DreamWorks/courtesy of Everett Collection Bening and Jeremy Irons in “Being Julia” (2004). © Sony Pictures Classics/Everett Collection Bening and Julianne Moore in “The Kids Are All Right” (2010). Suzanne Tenner/© Focus Features, via Everett Collection Bening and Billy Crudup in “20th Century Women” (2016). Firstview (8); courtesy of Prada PRADA STILL resides in the Milanese apartment where she and her two older siblings, Marina and Alberto, grew up.

Persons: Queen Latifah Annette Bening Henry Taylor Miuccia Prada, I’m, Queen Latifah, Henry Taylor, D’Angelo Lovell Williams, Miuccia Prada, Collier Schorr, Annette Bening, Katy Grannan, Delphine Danhier, Rob Talty, Sara Tagaloa, Rahim Fortune, Ian Bradley, Iasia Merriweather, Raisa, Prada, you’ve, YANAGIHARA, ANNETTE BENING, Diana Nyad, “ Nyad, ”, Bening’s, Jimmy Chin, Elizabeth Chai Vasarhelyi, Alex Honnold’s, ” Chin, “, Nyad, Bening, —, Rada Owen, Owen “, Ralph Lauren, Carrie Fisher’s, Julia ”, Robert Caro, ” Bening, that’s, Delphine Danhier Gabriela Hearst poncho, Dianne Feinstein, She’s, Austin Butler, Elvis, manqué, “ It’s, Mike Mills, Nyad ”, Diana, he’s, Cillian Murphy, “ Oppenheimer, Kurt Collins, BENING, Tina, Tony, Pierre Choderlos, didn’t, Marquise de Merteuil, Milos Forman’s “, Glenn Close, Valmont, she’s, Lisa Cholodenko, Meryl Streep, Alexander McQueen, Forman, Stephen Frears, Myra Langtry, Langtry, Bugsy ”, she’d, Warren Beatty, moll Virginia Hill, Reagan, “ I’ve, Fairuza, “ Valmont ”, “ Bugsy ”, “ Bugsy, ” Everett, Jeremy Irons, Julianne Moore, Suzanne Tenner, Billy Crudup, Merrick Morton, “ Nyad ”, ” Liz Parkinson, Liz Parkinson, Angela Bassett, Frances McDormand, Tilda Swinton, Rather, you’re, Pete Zuccarini, Jodie Foster, Nyad’s, Tracy Letts, ” Letts, — “, Beatty, ” Mills, Ella Beatty, “ She’s, ” Vasarhelyi, Dale Carnegie’s, Sophie Buhai, Vasarhelyi, they’re, I’ve, slathering, Michael Douglas, Robert De Niro, Harrison Ford, Julia, callow, Shaun Evans, Corey Stoll, Howard Hughes —, “ I’m, it’s, Jesse Hoffman, Cam Lindfors, Christian Scutt, Ronna Jones, Francesca Martin, Susie Kourinian, Rachel Pollen, Jazmine Robinson, MIUCCIA PRADA, David Cronenberg, Jean, Luc Godard, Dara Birnbaum, Galleria Vittorio Emanuele II, Mario Prada, Patrizio Bertelli, Miu Miu, Guy Marineau, Condé Nast, Homer, “ Prada Marfa, Lauren Weisberger’s, Wears, Drake, Prada hasn’t, Carsten Höller, Suzanne Koller Prada, Suzanne Koller, Gerhard Richter, — Rei Kawakubo, Martin Margiela, Domenico Dolce, Stefano Gabbana, Donatella Versace, Suzanne Koller “, Francesco Vezzoli, Olivier Rizzo, Ferdinando Verderi, Theaster Gates, Uma Thurman, Frank Ocean, Carla Sozzani, Corso, Vivienne Westwood, Yves Saint Laurent, jolie laide, It’s, Lotta Volkova, Miu Miu’s, Guido Palau, they’d, ‘, Tom Ford, prim, ” Prada, Prada PRADA, Luisa Prada —, Sozzani —, Miuccia’s, Luigi Bianchi, Godard, Pier Paolo Pasolini, Bertelli, we’re, Lorenzo Bertelli, Giulio Bertelli, ” Francesco Risso, ” Risso, Fabio Zambernardi, “ Bottega, Gaetano Pesce, Saint Laurent, Pedro Almodóvar, Rem Koolhaas, ” James Jean, Frédéric Sanchez, Sanchez, cardigans, Marc Jacobs, Robert Gober, Louise Bourgeois, there’s, Gober, Suzanne Koller Prada pongee, — Prada, Milano, Damien Hirst, ” Koolhaas, Koolhaas, “ I’d, Wes Anderson — who’s, Bar Luce, Fondazione Prada —, ” “, Hirst, Prada sighed, ’ ” Prada, Miuccia Prada hasn’t, Raf Simons, Prada’s, Simons, ” Simons, Dior, Calvin Klein, Jil Sander, ” he’d, Miuccia, ’ ”, Andrea Guerra, Lorenzo, who’d, ” Miu, Antoneta Alamat, ” Miuccia Prada, Elio Berenett, Saunders, Awar Odhiang, Jonas Glöer, Chloe Nguyen, Estrella Gomez, America Gonzalez, Marie Duhart, Rafael Medeiros, Stefano Poli, Ariel Sadok, Cameron Koskas, Vassili, Alexandra Adams, Vincent Brière, Vira, Natsuki Oneyama, Joel Phillips, Manicurist’s, Akane Kanazawa, Marek Dague, QUEEN LATIFAH, DANA OWENS, She’d, Melle Mel, Big Daddy Kane, D.J.s, Owens, Nikki Giovanni, Octavia E, Butler, M.C.s, Latifah, Jazzy Joyce, MC Lyte, Lyte, ” Latifah, We’re, Shakim Compere, Norma Kamali, David Yurman, David Webb, Ian Bradley Louis Vuitton, Monie, Gary Gray’s, Tracy Oliver, Kenya Barris, Megan Thee, Viola Davis, LATIFAH, Michael Jackson, who’ve, Shakim, Rita Owens, Compere, Rita, scions, Amina, Amiri Baraka, Lauryn Hill, Latifah wasn’t, Lyte’s, Roxanne, Roxanne Shanté, Dana Owens, Danyel Smith, Queen Latifah —, Latifah ”, Tommy Boy, Jada Pinkett Smith, I’d, ’, ” Pinkett Smith, Al Pereira, Michael Ochs, Raymond Boyd, Getty, D’s, Gray, Latifah’s, Luther Vandross’s, Lancelot Owens Jr, Winki, Kierna Mayo, Love, merrily hyperhappy, Harriet Tubman, Angela Davis, Winnie Mandela, Tipper Gore, Al Gore, ” Love, Giorgio Armani, Van Cleef, Will Smith’s, Bel, Amanda Wicks, John Singleton’s “, Cleo, Clover Hope, “ Will, Smith, Wright ”, “ Bessie, Bessie Smith, Dee Rees, Ma Rainey, Jack Gee, Michael K, Williams, Compere’s, helpfully, Sylvia Robinson, Debra Martin Chase, Wright ” —, Lancelot Owens Sr, Pinkett Smith, Edward Woodward, Denzel Washington, Latifah’s Robyn McCall, Danyel, Vi, Lorraine Toussaint, Robyn, Paul Drinkwater, Cress Williams, Adam Lazarre, Everett, Kimberly Elise, Vivica, Nicola Goode, LL, “ Bessie ”, Frank Masi, David Lee, Jocelyn Prescod, scleroderma, David Jolicoeur, Love —, Eboni Nichols, she’ll, gazes, Bruce Springsteen, Sarah Vaughan, Frank Sinatra, They’ve, Cartier, Iasia Estée, Raisa Flowers, Adrien Potier, Fallou, Nuvany David, Manicurist, Lisa Logan, Derrick Bernard, Casey Jones, Stylist’s, Charles Ndiomu, Tyler Sparling, HENRY TAYLOR, Taylor, Thom Browne cardigan, Philando, Diamond Reynolds, Henry Taylor’s “, Mark Dever, Dever, ” Dever, Castile, he’ll, Steve Cannon, Cannon, ” Taylor, Joshua White, panhandlers —, Cora, isn’t, He’s, Michelle Obama, Bob Dylan, Alice Coachman, Chuck Berry, Jay, Stanley Williams, Haile Selassie I, Taylor’s “ Cora, Jeff McLane Taylor, — Pablo Picasso, Philip Guston, Henri Matisse, Robert Rauschenberg —, Donald Trump’s, he’d, Picasso, Jordan Casteel, Kerry James Marshall, Jennifer Packer, Amy Sherald, Barack Obama, Michelle, Pharrell Williams, Kendrick Lamar’s, He’d, Emmett Till, Till, Till’s, Dana Schutz, Hannah Black, Schutz, William Styron, Nat Turner, George Jackson, Randy, Jackson, “ George Jackson ”, Dylan, Medgar Evers, Evers, Ku Klux Klan who’d, Taylor’s “ Cicely, Miles, Sam Kahn, Hershal, Taylor didn’t, Taylor’s, who’s, Bill Traylor, James Jarvaise, Jarvaise, Rauschenberg, Jasper Johns, Louise Nevelson, Frank Stella, Mark Bradford —, Hauser, Wirth —, Michel Foucault, Jacques Derrida Organizations: Key West, Liverpool ”, SAG, Telluride Film, Variety, Broadway, Miami, Writers Guild of America, Orion Pictures, Everett, Miramax, DreamWorks, Sony Pictures, Netflix, Kimberley, Juilliard, Hollywood, Forward Artists, Fondazione Prada, New, Galleria Vittorio, Prada, Prada Group, Olympic, Harvard, Gucci, University of Milan, Union of Italian, Communist Party, ABC, Suzanne Koller Journalists, Yorker, Milano Prada Arte, Fondazione, tote, New York, Guggenheim, OMA, Next Management, Oui Management, Ford Models, Lumien, Management Paris, IMG Models, America, Bryant Artists, Burger, Swatch, Irvington High School, Black Arts, Hit Factory, Ramada, Flavor Unit Entertainment, CBS, WHO, Factory, Irvington, Tommy Boy Records, Unit, Michael Ochs Archives, Getty, AMC, Play Studios, Music Resource Center, “ Chicago ”, HBO, Jazz, Mo’Nique, Sugar Hill Records, Winki, ”, NBCU, Warner Brothers, Fox, Paramount, Fox Searchlight Pictures, Bank, BET, Hawks, Mori, Digital, Minn, Facebook, Hauser & Wirth, Museum of Contemporary Art, Whitney Museum of American Art, MoMA, Los, Whitney Biennial, Biennial, Black America, New York Times, Louis Vuitton, Black Panthers, U.S ., San, Prison, Ku Klux Klan, Ardmore, New York’s Museum of Modern, California Institute of Arts, Wirth Locations: Havana, Key, Fla, Bening, Dominican Republic, Capitan, Yosemite, San Diego, Los Angeles, Simi Valley, Calif, Givenchy, Liverpool, Nyad, Cuba, Florida, San Francisco, Denver, New York, Tina Howe’s, Champagne, yips, America, Hollywood, “, Kimberley, “ Nyad, American, Topeka, Kan, Wichita, San Fernando Valley, San Carlos, Milan, Canadian, Switzerland, ”, Marfa , Texas, Italian, Belgian, Corso Como, Paris, British, chino, Firstview, Milanese, Alberto, Europe, Italy, —, Taiwanese American, there’s, Manhattan, Koolhaas, Rotterdam, Netherlands, New, Antwerp, Croatian, Newark , N.J, Midtown Manhattan, Hudson, Brooklyn, Hit Factory , New York City, NoHo, New York City, Lafayette 148 New York, New Jersey, Newark, Jersey, Baltimore, Chicago, Milwaukee, Queens, “ Chicago, Watts, Koreatown, Philando Castile, St, Paul, Oxnard, California, Mississippi, U.S, San Quentin, Castile, bro, Naples, East Texas, Ardmore, Alabama

☆ How Miuccia Prada Reinvented Fashion
▼ + stars: | 2023-10-19 | by ( Nick Haramis | ) www.nytimes.com time to read: +111 min

A few seasons earlier, for Miu Miu’s spring 2022 collection, Prada delivered raw-edge chino micro-miniskirts belted below the hip bone. Firstview (8); courtesy of Prada PRADA STILL resides in the Milanese apartment where she and her two older siblings, Marina and Alberto, grew up. In 1993, her days of on-the-ground protest behind her — she’d long stopped handing out flyers at rallies — Prada and Bertelli created Milano Prada Arte, which later became the Fondazione Prada. Styled by Suzanne Koller FOR THE PAST few years, Miuccia Prada hasn’t had to do quite as much all by herself. © TriStar/Everett Collection Bening and Warren Beatty in “Bugsy.” Everett Collection Bening in “American Beauty” (1999).

Persons: Queen Latifah Annette Bening Henry Taylor Miuccia Prada, I’m, Queen Latifah, Henry Taylor, D’Angelo Lovell Williams, Miuccia Prada, Collier Schorr, Annette Bening, Katy Grannan, Delphine Danhier, Rob Talty, Sara Tagaloa, Rahim Fortune, Ian Bradley, Iasia Merriweather, Raisa, Prada, you’ve, YANAGIHARA, MIUCCIA PRADA, David Cronenberg, Jean, Luc Godard, Dara Birnbaum, Galleria Vittorio Emanuele II, Mario Prada, Patrizio Bertelli, Miu Miu, Guy Marineau, Condé Nast, ”, “, Homer, “ Prada Marfa, Lauren Weisberger’s, Wears, Drake, Prada hasn’t, Carsten Höller, “ It’s, Suzanne Koller Prada, Suzanne Koller, Gerhard Richter, — Rei Kawakubo, Martin Margiela, she’s, Domenico Dolce, Stefano Gabbana, Donatella Versace, Suzanne Koller “, Francesco Vezzoli, Olivier Rizzo, Ferdinando Verderi, Theaster Gates, Uma Thurman, Frank Ocean, —, Carla Sozzani, Corso, Vivienne Westwood, Yves Saint Laurent, jolie laide, It’s, “ She’s, Lotta Volkova, Miu Miu’s, Guido Palau, they’d, ‘, Tom Ford, prim, ” Prada, Prada PRADA, Luisa Prada —, Sozzani —, Miuccia’s, Luigi Bianchi, she’d, Godard, Pier Paolo Pasolini, Bertelli, we’re, Lorenzo Bertelli, Giulio Bertelli, they’re, ” Francesco Risso, ” Risso, Fabio Zambernardi, “ Bottega, Gaetano Pesce, Saint Laurent, Pedro Almodóvar, Rem Koolhaas, ” James Jean, Frédéric Sanchez, Sanchez, cardigans, Marc Jacobs, Robert Gober, Louise Bourgeois, there’s, Gober, Suzanne Koller Prada pongee, — Prada, Milano, Damien Hirst, ” Koolhaas, Koolhaas, “ I’d, Wes Anderson — who’s, Bar Luce, Fondazione Prada —, ” “, Hirst, Prada sighed, ’ ” Prada, Miuccia Prada hasn’t, Raf Simons, Prada’s, Simons, ” Simons, Dior, Calvin Klein, Jil Sander, ” he’d, Miuccia, ’ ”, Andrea Guerra, Lorenzo, who’d, ” Miu, Antoneta Alamat, ” Miuccia Prada, Elio Berenett, Saunders, Awar Odhiang, Jonas Glöer, Chloe Nguyen, Estrella Gomez, America Gonzalez, Marie Duhart, Rafael Medeiros, Stefano Poli, Ariel Sadok, Cameron Koskas, Vassili, Alexandra Adams, Vincent Brière, Vira, Natsuki Oneyama, Joel Phillips, Manicurist’s, Akane Kanazawa, Marek Dague, QUEEN LATIFAH, DANA OWENS, She’d, Melle Mel, Big Daddy Kane, D.J.s, Owens, Nikki Giovanni, Octavia E, Butler, M.C.s, Latifah, Jazzy Joyce, MC Lyte, Lyte, ” Latifah, We’re, She’s, Shakim Compere, Norma Kamali, David Yurman, David Webb, Ian Bradley Louis Vuitton, Monie, Gary Gray’s, Tracy Oliver, Kenya Barris, Megan Thee, Viola Davis, it’s, LATIFAH, Michael Jackson, who’ve, Shakim, Rita Owens, Compere, Rita, scions, Amina, Amiri Baraka, Lauryn Hill, Latifah wasn’t, Lyte’s, Roxanne, Roxanne Shanté, Dana Owens, Danyel Smith, Queen Latifah —, Latifah ”, Tommy Boy, Jada Pinkett Smith, I’d, ’, ” Pinkett Smith, Al Pereira, Michael Ochs, Raymond Boyd, Getty, D’s, Gray, Latifah’s, Luther Vandross’s, Lancelot Owens Jr, Winki, Kierna Mayo, Love, merrily hyperhappy, Harriet Tubman, Angela Davis, Winnie Mandela, Tipper Gore, Al Gore, ” Love, Giorgio Armani, Van Cleef, Will Smith’s, Bel, Amanda Wicks, John Singleton’s “, Cleo, Clover Hope, “ Will, Smith, Wright ”, “ Bessie, Bessie Smith, Dee Rees, Ma Rainey, Jack Gee, Michael K, Williams, Compere’s, helpfully, Sylvia Robinson, Debra Martin Chase, Wright ” —, Lancelot Owens Sr, Pinkett Smith, Edward Woodward, Denzel Washington, Latifah’s Robyn McCall, Danyel, Vi, Lorraine Toussaint, Robyn, Paul Drinkwater, Cress Williams, Adam Lazarre, Everett, Kimberly Elise, Vivica, Nicola Goode, LL, “ Bessie ”, Frank Masi, David Lee, Jocelyn Prescod, scleroderma, David Jolicoeur, Love —, Eboni Nichols, she’ll, gazes, Bruce Springsteen, Sarah Vaughan, Frank Sinatra, “ I’m, They’ve, Cartier, Iasia Estée, Raisa Flowers, Adrien Potier, Fallou, Nuvany David, Manicurist, Lisa Logan, Derrick Bernard, Casey Jones, Stylist’s, Charles Ndiomu, Tyler Sparling, ANNETTE BENING, Diana Nyad, “ Nyad, Bening’s, Jimmy Chin, Elizabeth Chai Vasarhelyi, Alex Honnold’s, ” Chin, Nyad, Bening, Rada Owen, Owen “, Ralph Lauren, Carrie Fisher’s, Julia ”, Robert Caro, ” Bening, that’s, Delphine Danhier Gabriela Hearst poncho, Dianne Feinstein, Austin Butler, Elvis, manqué, Mike Mills, Nyad ”, Diana, he’s, Cillian Murphy, “ Oppenheimer, Kurt Collins, BENING, Tina, Tony, Pierre Choderlos, didn’t, Marquise de Merteuil, Milos Forman’s “, Glenn Close, Valmont, Lisa Cholodenko, Meryl Streep, Alexander McQueen, Forman, Stephen Frears, Myra Langtry, Langtry, Bugsy ”, Warren Beatty, moll Virginia Hill, Reagan, “ I’ve, Fairuza, “ Valmont ”, “ Bugsy ”, “ Bugsy, ” Everett, Jeremy Irons, Julianne Moore, Suzanne Tenner, Billy Crudup, Merrick Morton, “ Nyad ”, ” Liz Parkinson, Liz Parkinson, Angela Bassett, Frances McDormand, Tilda Swinton, Rather, you’re, Pete Zuccarini, Jodie Foster, Nyad’s, Tracy Letts, ” Letts, — “, Beatty, ” Mills, Ella Beatty, ” Vasarhelyi, Dale Carnegie’s, Sophie Buhai, Vasarhelyi, I’ve, slathering, Michael Douglas, Robert De Niro, Harrison Ford, Julia, callow, Shaun Evans, Corey Stoll, Howard Hughes —, Jesse Hoffman, Cam Lindfors, Christian Scutt, Ronna Jones, Francesca Martin, Susie Kourinian, Rachel Pollen, Jazmine Robinson, HENRY TAYLOR, Taylor, Thom Browne cardigan, Philando, Diamond Reynolds, Henry Taylor’s “, Mark Dever, Dever, ” Dever, Castile, he’ll, Steve Cannon, Cannon, ” Taylor, Joshua White, panhandlers —, Cora, isn’t, He’s, Michelle Obama, Bob Dylan, Alice Coachman, Chuck Berry, Jay, Stanley Williams, Haile Selassie I, Taylor’s “ Cora, Jeff McLane Taylor, — Pablo Picasso, Philip Guston, Henri Matisse, Robert Rauschenberg —, Donald Trump’s, he’d, Picasso, Jordan Casteel, Kerry James Marshall, Jennifer Packer, Amy Sherald, Barack Obama, Michelle, Pharrell Williams, Kendrick Lamar’s, He’d, Emmett Till, Till, Till’s, Dana Schutz, Hannah Black, Schutz, William Styron, Nat Turner, George Jackson, Randy, Jackson, “ George Jackson ”, Dylan, Medgar Evers, Evers, Ku Klux Klan who’d, Taylor’s “ Cicely, Miles, Sam Kahn, Hershal, Taylor didn’t, Taylor’s, who’s, Bill Traylor, James Jarvaise, Jarvaise, Rauschenberg, Jasper Johns, Louise Nevelson, Frank Stella, Mark Bradford —, Hauser, Wirth —, Michel Foucault, Jacques Derrida Organizations: Fondazione Prada, New, Galleria Vittorio, Prada, Prada Group, Olympic, Harvard, Gucci, University of Milan, Union of Italian, Communist Party, ABC, Suzanne Koller Journalists, Yorker, Milano Prada Arte, Fondazione, tote, New York, Guggenheim, OMA, Next Management, Oui Management, Ford Models, Lumien, Management Paris, IMG Models, America, Bryant Artists, Burger, Swatch, Irvington High School, Black Arts, Hit Factory, Ramada, Hollywood, Flavor Unit Entertainment, CBS, WHO, Factory, Irvington, Tommy Boy Records, Unit, Michael Ochs Archives, Getty, AMC, Play Studios, Music Resource Center, “ Chicago ”, HBO, Jazz, Mo’Nique, Sugar Hill Records, Winki, ”, NBCU, Warner Brothers, Fox, Miramax, Paramount, Fox Searchlight Pictures, Everett, Bank, BET, Hawks, Mori, Digital, Key West, Liverpool ”, SAG, Telluride Film, Variety, Broadway, Miami, Writers Guild of America, Orion Pictures, DreamWorks, Sony Pictures, Netflix, Kimberley, Juilliard, Forward Artists, Minn, Facebook, Hauser & Wirth, Museum of Contemporary Art, Whitney Museum of American Art, MoMA, Los, Whitney Biennial, Biennial, Black America, New York Times, Louis Vuitton, Black Panthers, U.S ., San, Prison, Ku Klux Klan, Ardmore, New York’s Museum of Modern, California Institute of Arts, Wirth Locations: Milan, Canadian, Switzerland, New York, ”, Marfa , Texas, Italian, Belgian, Corso Como, Paris, British, chino, Firstview, Milanese, Alberto, Europe, Italy, —, “, Taiwanese American, there’s, Manhattan, Koolhaas, Rotterdam, Netherlands, New, Antwerp, Croatian, America, Newark , N.J, Midtown Manhattan, Hudson, Brooklyn, Hit Factory , New York City, NoHo, New York City, Lafayette 148 New York, New Jersey, Newark, Jersey, Baltimore, Chicago, Milwaukee, Queens, Hollywood, “ Chicago, Watts, Havana, Key, Fla, Bening, Dominican Republic, Capitan, Yosemite, San Diego, Los Angeles, Simi Valley, Calif, Givenchy, Liverpool, Nyad, Cuba, Florida, San Francisco, Denver, Tina Howe’s, Champagne, yips, Kimberley, “ Nyad, American, Topeka, Kan, Wichita, San Fernando Valley, San Carlos, Koreatown, Philando Castile, St, Paul, Oxnard, California, Mississippi, U.S, San Quentin, Castile, bro, Naples, East Texas, Ardmore, Alabama

REUTERS/Bing Guan/File Photo Acquire Licensing RightsWASHINGTON, Oct 19 (Reuters) - U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit because gasoline margins have fallen over 80% since the summer driving season ended. Refiners, which typically produce more distillates such as diesel and heating oil in autumn, are trying to rebuild inventories of these fuels that are near seasonal record lows. While fuel makers focus on maximizing distillate output, they inevitably produce gasoline as well. Meanwhile, Russia's short-lived diesel export ban, along with less refinery capacity and Western sanctions on Russian diesel, have hit diesel inventories and tightened supplies. Shortages have kept the U.S. heating oil crack at near $44 a barrel, nearly twice the seasonal average.

Persons: Bing Guan, fuelmakers, RIN, Laura Sanicola, Stephanie Kelly, David Gregorio Our Organizations: Phillips, Los, Los Angeles Refinery, Rights, Diesel, AAA, U.S ., U.S . Energy Information Administration, Thomson Locations: Los Angeles, Carson , California, U.S, Singapore, U.S . East

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. The SEC acted within its authority in approving the rule, and was allowed to consider the opinions of investors who said board diversity information was important to their investment decisions, the court said. "This evidence is sufficient to support the SEC's determination that regardless of whether investors think that board diversity is good or bad for companies, disclosure of information about board diversity would inform how investors behave in the market," the panel wrote. They said the rule is not a quota but a disclosure requirement that provides standardized information on board diversity. Circuit Court of Appeals, No.

Persons: Edward Blum, Blum, Biden, Jody Godoy, Mark Porter, Jonathan Oatis Organizations: Nasdaq, REUTERS, Circuit, National Center for Public Policy Research, Alliance for Fair, SEC, Harvard University, University of North, U.S . Securities, Exchange Commission, Companies, Republican, Democratic, Fair, U.S, Thomson Locations: New York City, U.S, New Orleans, University of North Carolina, New York

☆ We're lowering our price target on Morgan Stanley as shares tumble on earnings results
▼ + stars: | 2023-10-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

Morgan Stanley (MS) reported better-than-expected third-quarter results Wednesday, even as investor disappointment over its wealth management business and the prolonged slump in investment banking weighed heavily on shares — prompting us to lower our price target on the Club holding. Bottom line Morgan Stanley shares plummeted by 6.6% Wednesday, to hit a new 52-week low of roughly $75 apiece. Wealth management revenues increased about 5% on an annual basis, but fell short of analysts' forecasts. Morgan Stanley management has previously said it would be misguided to extrapolate one quarter's results on net new assets to the next. The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023.

Persons: Morgan Stanley, it's, they've, James Gorman, Morgan Stanley repurchased, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Club, Revenue, LSEG, Wall, Wealth, Federal Reserve, Equity, Capital, CNBC, Santiago, Getty Locations: IPOs, New York City

☆ Mike Novogratz thinks the SEC will approve a bitcoin ETF as early as this year
▼ + stars: | 2023-10-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The crypto market has effectively been on pause – aside from a quick and short-lived spike this week – as investors wait for the SEC to give the green light to a bitcoin ETF. This week bitcoin, as well as shares of Coinbase , briefly spiked on a false report that BlackRock 's proposed spot bitcoin ETF had been approved by the SEC. BlackRock first filed its application in June and several other institutional players including Galaxy followed, taking BlackRock's move as a bullish signal for bitcoin ETF prospects as well as the long-term trajectory of bitcoin itself. Although no bitcoin ETF has been greenlit still, Novogratz highlighted BlackRock's bitcoin blessing on Wednesday as another sign that "the dialogue with the SEC is all heading in the right direction." Ark Invest CEO Cathie Wood echoed that sentiment this week, telling CNBC's "Halftime Report" the "SEC is engaging with us for a bitcoin ETF application.

Persons: Mike Novogratz, Novogratz, Cathie Wood, CNBC's, bitcoin, Godot Organizations: SEC, Galaxy Investment Partners, Invesco, CNBC Wednesday, Securities and Exchange Commission, Coinbase, BlackRock, Galaxy Locations: U.S

☆ For Republicans, Plan D in the House speaker crisis could require Democrats
▼ + stars: | 2023-10-18 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

Hardline Republicans axed Rep. Kevin McCarthy, the man who spent years orchestrating his rise to become House speaker, after he relied on Democrats to help pass a short-term funding bill to keep the government open last month. When McCarthy got the boot, McHenry was elevated to become the powerless temporary speaker – known as speaker pro tempore – able to keep the House in session but not to pass any legislation. The mechanism for such an arrangement could be a simple resolution giving McHenry the temporary power to move appropriations legislation. I asked her by email about why having a temporary speaker would be appealing, and she suggested it’s not a good option, but maybe the least bad option in the face of an institutional leadership crisis. In fact, Postell predicted an even more partisan atmosphere if the House speaker was to permanently become a less powerful position.

Persons: you’ve, here’s, Kevin McCarthy, McCarthy’s, Steve Scalise, McCarthy, Scalise, He’ll, Jim Jordan, couldn’t, Sean Hannity, Jordan, Patrick McHenry, McHenry, –, Mike Lawler, CNN’s Manu Raju, Jordan’s, Newt Gingrich, John Boehner, Paul Ryan –, ” Gingrich, Raju, Hakeem Jeffries, ”, Jeffries, ” Jeffries, Sarah Binder, it’s, ” Binder, bipartisanship, Joseph Postell, Postell, ” Postell Organizations: CNN, Republicans, Caucus, Fox News, ’, Republican, Israel, ”, New York Republican, Republican House, McHenry, Representatives, Brookings Institution, George Washington University, Democrats, Hillsdale College Locations: McHenry, “ America

☆ What the Israel-Hamas war means for defense stocks
▼ + stars: | 2023-10-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —When war breaks out, defense companies tend to make money. That means aerospace and defense stocks tend to rise during geopolitical unrest. Defense stocks typically rise after military conflicts but soon lose those gains. Following Russia’s invasion of Ukraine, the iShares defense ETF surged by 5%, with Lockheed Martin and Northrop Grumman’s shares jumping about 20%. Goldman Sachs announced third-quarter results on Tuesday morning, reporting earnings of $5.47 per share, which beat the $5.31 expected by analysts.

Persons: Lockheed Martin, Northrop Grumman, ”, Jim Taiclet, “ That’s, JPMorgan Chase, Jamie Dimon, “, ” Sam Stovall, Joe Biden’s, Northrop Grumman’s, Raffi Boyadjian, Goldman Sachs, David Solomon, “ David, Goldman, Tony Fratto, Solomon, DJ, ” Solomon, it’s, Lloyd Blankfein, they’re, Elon Musk’s, Elon Musk, X, Clare Duffy Organizations: CNN Business, Bell, New York CNN, U.S . Aerospace & Defense ETF, Raytheon, Lockheed, Boeing, General Dynamics, Northrop, “, Lockheed Martin Corporation, titans, Hamas, JPMorgan, Defense, XM, Treasury, CNN, Revenue, Twitter Locations: New York, Israel, U.S, Ukraine, Kippur, Kuwait, South Beach, New Zealand, Philippines

☆ UBS head of sustainable finance: Expect more greenwashing regulation, ESG transparency questions
▼ + stars: | 2023-10-17 | 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 EmailUBS head of sustainable finance: Expect more greenwashing regulation, ESG transparency questionsCompanies should expect institutional investors to ask for information about responsibility in their supply chains and for regulation around greenwashing, said Tasos Zavitsanakis, UBS co-head of sustainable finance for Asia-Pacific, at CNBC's East Tech West conference. "There is an element of openness that needs to happen," he added.

Persons: Tasos Zavitsanakis Organizations: UBS, CNBC's East Tech West Locations: greenwashing, Asia, Pacific

☆ Netflix and others have pulled back on hard-hitting documentaries as streamers seek more true crime and 'nothing too political'
▼ + stars: | 2023-10-17 | by ( Lucia Moses | ) www.businessinsider.com time to read: +10 min

"Beyond Utopia" attracted interest at Sundance from streamers like Amazon's Prime Video and Netflix. Interest peaked four years ago at the Sundance Film Festival, fueled by Amazon and Netflix, which paid a record $10 million for the Alexandria Ocasio-Cortez doc "Knock Down the House." In the crime realm, WME advised, Netflix was seeking films based on big, well-known cases and scams like "Dahmer" and "Tinder Swindler." Filmmakers point to streamers' self-censorship and 'cold feet' over sensitive topicsSome filmmakers said there are still champions at the streamers for documentaries that push the envelope. "Beyond Utopia" is among a number of recent films that have been snubbed by the big streamers, despite winning awards and buzz.

Persons: Madeleine Gavin, It'll, It's, Gavin, Hulu, Peter Broderick, Hulu didn't, Sundance fests, Broderick, WME, Dahmer, Ted Hope, Hope, Vanessa Hope, Taiwan's, he'd've, Oscar, Bryan Fogel, Jamal Khashoggi, Thom Powers, it's, Keith Ochwat, Ochwat Organizations: Sundance, Netflix, PBS, Sundance Film, Amazon, Alexandria, Paradigm Consulting, Amazon Prime, Apple, Hulu, Hollywood, Gravitas Ventures, & $ Locations: Joy, Congo, arthouses, Hulu, China, Park City, Syria, Russian, Ukraine, Venice

☆ Billionaire Ronald Lauder threatens to stop Penn donations unless the school takes a stronger stance against antisemitism
▼ + stars: | 2023-10-17 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

Billionaire Ronald Lauder wrote a letter threatening to stop donations to the University of Pennsylvania. AdvertisementAdvertisementRonald Lauder, the billionaire Estée Lauder heir, wrote a searing letter to the University of Pennsylvania's president threatening to stop donations to the school if it doesn't take a stronger stance against antisemitism. "Those invited to the event had a history of not just strong anti-Israel bias, but outright antisemitism," he wrote. "The University did not, and emphatically does not, endorse these speakers or their views," Magill wrote in an email to the Penn community on Sunday. Lauder, who is worth $4.5 billion, per Forbes, has donated millions of dollars to Penn, as has his brother, Leonard.

Persons: Ronald Lauder, Lauder, —, Estée Lauder, Penn, Elizabeth Magill, Marc Rowan, Dick Wolf, Huntsman, David Magerman, Rowan, Magill, Steve Fluharty, Fluharty, Leonard, Batia Ofer, Israel's, Les Organizations: University of Pennsylvania, Service, University of, Apollo Global Management, Penn, Wolf Humanities Center, Ivy League, The Daily, Penn's Department of Arts and Science, University, Forbes, Institute, Wharton School, Penn Law, The Lauder Institute, Republican, Jewish, Harvard, Harvard's Kennedy School, University of Pennsylvania's Locations: Israel, Palestine, Penn, Cambridge

☆ The Treasury bond market is headed for an unknown destination as it sheds key anchors, Mohamed El-Erian says
▼ + stars: | 2023-10-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Treasury bond market is headed for an unknown destination, Mohamed El-Erian wrote in the Financial Times. "The US bond market is losing its strategic footing, whether in economics, policy, or technical aspects." AdvertisementAdvertisementThe Treasury bond market is headed for the unknown as it sheds key anchors, economist Mohamed El-Erian wrote in the Financial Times. "The US bond market is losing its strategic footing, whether in economics, policy, or technical aspects," he said. But the continued resilience of the bond market is not something investors should take for granted, he warned.

Persons: Mohamed El, Erian, — Organizations: Treasury, Financial Times, Service, Federal Reserve, Allianz, US, Treasury Department

☆ Cryptoverse: Winter is coming as ether funds flounder in fall
▼ + stars: | 2023-10-17 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +4 min

"The timing of the futures ETFs could hardly be worse," said Vetle Lunde, senior analyst at K33 Research. Trading volumes for the ether futures ETFs remained below $2 million on their first day, according to K33 Research. Trading volumes of six exchange-traded funds tracking ether made a subdued start after launching on Oct. 2BACK TO BITCOIN? The newly launched ETFs tracking solely ether futures on the Chicago Mercantile Exchange, from ProShares (EETH.P), VanEck and Bitwise (AETH.P), have all dipped over 6% since launch. ProShares and Bitwise also launched funds tracking a mixture of bitcoin and ether futures, while Valkyrie Funds converted its pure-play bitcoin ETF into one with exposure to both bitcoin and ether (BTF.O).

Persons: Bitcoin, Dado, Vetle Lunde, murkier, Lunde, Ben McMillan, McMillan, Bitwise, IDX, Lisa Pauline Mattackal, Sumanta Sen, Tom Wilson, Pravin Organizations: REUTERS, K33 Research, IDX, Federal, Chicago Mercantile Exchange, Thomson, Reuters Locations: Ukraine, ProShares, Bengaluru

☆ This Morgan Stanley veteran is ready to be CEO — it just might be somewhere else
▼ + stars: | 2023-10-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

Morgan Stanley CEO James Gorman plans to retire by May 2024. "Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture," Gorman wrote in a memo at the time. Morgan Stanley, which was the lead underwriter, had to step in to prop up the stock. In 2010, Morgan Stanley was picked as one of two lead underwriters — the other being JPMorgan — for the IPO of General Motors. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, He's, Simkowitz, Eaton Vance, Pick, Morgan, Getty, Dan, doesn't, Gorman, Morgan Stanley's, Saperstein, executive's protégé, Andy, Alex, Brown, Ted, she'd, Simkowitz's, Dean Witter Reynolds, Eaton, Calvert, Ruth Porat, Bob Scully, Fannie Mae, Freddie Mac, Will Dotson, Dan Akerson, TIMOTHY A, CLARY, Erik Gordon, Dodd, Frank, David Bieri, Gonzalo Marroquin, Patrick McMullan, Paul Taubman, Colm Kelleher, coheads, John Mack, Phil Purcell, Hayley Cuccinello Organizations: Disney, Harvard, McKinsey, Columbia Business School, Maccabiah Games, Team USA, Maccabi USA, Trenton Almgren, Davis, Lucent, Verizon, Mesa West Capital, JPMorgan, Calvert Research, Management, Facebook, Massachusetts Securities Division, Treasury, JPMorgan —, General Motors, Government Motors, General, New York Stock Exchange, Getty, University of Michigan's Ross School of Business, Citigroup, Virginia Tech, US Securities and Exchange Commission, United States Attorney's Office, Southern, of Locations: Bloomington , Indiana, Trenton, New York, Tokyo and Hong Kong, Boston, Washington, Switzerland, of New York, hcuccinello@insider.com

☆ Posting About Israel and Palestine Is Not a Moral Obligation - The New York Times
▼ + stars: | 2023-10-17 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +3 min

Sitting with uncertainty is hard, especially when social media has primed us to expect perfect real-time information during traumatic events and to want instantaneous answers and resolution. Knee-jerk social media posts are not what bother me most, though. Instead, it’s the idea that not posting is wrong somehow — that everyone needs to speak, all the time. It implies it’s not OK to have any uncertainty about what’s going on or any kind of moral analysis that does not lend itself to presentation in a social media post. If the destruction of Gaza is not the goal, it is a very real possibility, and that should be equally unacceptable.

Persons: ”, LVMH Moët Hennessy Louis Vuitton Organizations: Hamas Locations: Israel, Manhattan, Gaza

The logo for Lululemon Athletica is seen at a store in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 16 (Reuters) - Lululemon Athletica's (LULU.O) stock jumped by more than 10% to an almost two-year high on Monday buoyed by the addition of the Canadian sportswear maker into the Wall Street benchmark S&P 500 index. Inclusion of a company into the S&P 500 usually causes demand for its shares to jump as mutual fund managers and other institutional investors tracking the index begin adding the stock to their portfolios. The stock is now up nearly 30% year-to-date, giving the company a market capitalization of more than $52 billion. In September, Lululemon agreed to a deal with Peloton Interactive (PTON.O) to become the primary athletic-apparel maker for the U.S. fitness bike manufacturer.

Persons: Andrew Kelly, Dow Jones, Lululemon, Chibuike Oguh, Lance Tupper, Sharon Singleton Organizations: REUTERS, Activision Blizzard, Microsoft, Interactive, Lululemon, Thomson Locations: Manhattan , New York, U.S, New York

☆ University of Pennsylvania 'should have moved faster' in condemning antisemitism, its president admits, days after Apollo CEO called for her resignation
▼ + stars: | 2023-10-16 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementThe University of Pennsylvania "should have moved faster" in condemning the antisemitic views of speakers that appeared at a recent Palestinian literary festival held on campus, its president said. He was also one of 4,000 people to sign a letter condemning the university for hosting the festival. But, in light of the terror attack by Hamas on Israel, Rowan said the response was not enough. AdvertisementAdvertisementIn the statement Sunday, Magill said that the university could've been more forceful in condemning anti-Semitism in its initial statement on the festival. I, and this University, are horrified by and condemn Hamas's terrorist assault on Israel and their violent atrocities against civilians.

Persons: —, Elizabeth Magill, Magill, Marc Rowan, Rowan, Magill's, Roger Waters, Pink Floyd, Marc Lamont Hill, Waters, Hill, Rowan's oped, Carolyn, could've Organizations: The University of Pennsylvania, Service, of Pennsylvania, University, Penn, Apollo Global Management, CNN, The Daily, Wharton School's, Advisors, Daily Locations: Israel, Gaza, Palestinian, UPenn, Palestine

☆ Amid a rocky market in preferred securities, Bank of America finds opportunity
▼ + stars: | 2023-10-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

It hasn't been a great time for preferred securities. Yet Bank of America sees opportunity in some areas of the market. The ICE BofA Core Plus Fixed Rate Preferred Securities index, which has an effective yield of 6.71%, has seen a total return of -7% in the last six months. "Having said that, we think that certain names and pockets of the market may offer relative value," Youngworth said. Here are some of the $25 par fixed-rate preferreds Bank of America recommends, which have at least two years of call protection.

Persons: Michael Youngworth, He's, Youngworth, — CNBC'S Michael Bloom Organizations: Bank of America, ICE, Securities, preferreds Bank of America

☆ The bitcoin safe haven trade is back on, says Bernstein
▼ + stars: | 2023-10-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

With recession fears swelling again, investors seeking a safe place to put their assets should be interested in bitcoin , says Bernstein. The cryptocurrency, which has grown in popularity among institutions for its "digital gold" qualities, has an "enviable return record" versus physical gold, Bernstein analyst Gautam Chhugani said in a note Monday. "Bitcoin's hard money properties makes it an attractive 'safe haven' asset. "The early stages of bitcoin adoption, naturally, makes it more attractive [than] gold, with bitcoin market cap at less than 5% of Gold's market value (of above ground reserves)." Jefferies also recently said bitcoin is a "critical hedge" against currency debasement and the return of inflation.

Persons: Bernstein, Gautam Chhugani, bitcoin, Bitcoin, Chhugani, Paul Tudor Jones, Jefferies, CNBC's Michael Bloom Organizations: CNBC Locations: U.S

TOKYO, Oct 16 (Reuters) - Chip equipment maker Kokusai Electric (6525.T) has raised $724.4 million after pricing its shares at the top end of their marketed range in Japan's largest initial public offering in five years. Kokusai, owned by U.S. private equity firm KKR (KKR.N), set its IPO price at 1,840 yen per share, according to a filing on Monday, valuing the company at 423.9 billion yen ($2.8 billion). If an overallotment option for domestic investors is exercised, the offering would raise roughly $833 million. The move was partly due to a lacklustre share price performance by chip designer Arm since its listing last month, a source familiar with the matter has said. Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.

Persons: Mariko Katsumura, Sam Nussey, Miho Uranaka, Kim Coghill, Edwina Gibbs Organizations: Kokusai, U.S, KKR, Tokyo bourse's, Samsung Electronics, Micron Technology, Thomson Locations: TOKYO

☆ One of the most accurate Wall Street strategists in 2022 shares 3 reasons a recession is still on the way — putting stocks in danger of a significant pullback
▼ + stars: | 2023-10-14 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

In a recent note to clients, Kantrowitz highlighted unemployment claims data leading up to the Great Recession. But looking at the revised data, a clearer trend starts in September of 2007, he said. Looking at prior yield curve inversions, it's taken more than 12 months for jobless claims to start to meaningfully trend upward. Piper SandlerAnother indicator that tells Kantrowitz that jobless claims are going to start increase is — interestingly enough — furniture sales. For example, Bank of America and JPMorgan strategists both walked back their 2023 recession calls earlier this year.

Persons: Michael Kantrowitz, Piper Sandler, it's, Kantrowitz, there's, he's, Jeremy Grantham, Gary Shilling Organizations: Wall Street, The Conference Board, RBC, Bank of America, JPMorgan

Short selling involves borrowing a stock to sell it in the expectation the price will fall, then repurchasing the shares and pocketing the difference. Short interest in the U.S. market totaled $927 billion as of Thursday, according to analytics firm S3 Partners. The new rules require institutional investors to report their gross short positions to the SEC monthly and certain "net" short activity for individual dates on which trades settle. "Investment advisers will face more risk when selling short, which will harm investors, market participants, and market efficiency," said its CEO Bryan Corbett. SEC officials said the new rules, which the commission agreed upon in a 3-2 vote, support the agency's efforts to police the practice.

Persons: Jim Bourg, Gary Gensler, Gensler, Stephen Hall, FINRA, Bryan Corbett, Douglas Gillison, Chris Prentice, Michelle Price, Chizu Nomiyama, Chris Reese Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, GameStop, Financial Industry Regulatory Authority, Partners, Stephen Hall of Better, Justice Department, Thomson Locations: Washington, U.S

Short selling involves borrowing a stock to sell it in the expectation the price will fall, then repurchasing the shares and pocketing the difference. The practice has long been divisive, with critics accusing short sellers of trying to hurt companies, and short sellers arguing they help root out fraud and corporate misconduct. Since at least 2021, the Justice Department and the SEC have also been investigating potential manipulation by short sellers and hedge funds around the publication of negative research reports. SEC officials said the new rules, which the commission agreed upon in a 3-2 vote, support the agency's efforts to police the practice. Specifically, institutional investors will have to report gross short positions to the SEC monthly and certain "net" short activity for individual dates on which trades settle.

Persons: Jim Bourg, Gary Gensler, FINRA, Douglas Gillison, Chris Prentice, Michelle Price, Chizu Nomiyama, Chris Reese Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, GameStop, Financial Industry Regulatory Authority, Partners, Justice Department, Thomson Locations: Washington, U.S

The firm's results "underscore continued pressure on industry organic growth that may last longer than currently reflected in investors’ expectations amid higher-for-longer short-term rates," analysts at Goldman Sachs wrote in a report Friday. "While we are encouraged by the firm’s sharper focus on expenses, we expect (BlackRock's) near-term organic base fee growth to remain muted." Investors are likely waiting for yields to peak before making any significant changes in their asset allocation, BlackRock said. "The long-term trend of clients consolidating more of their portfolios with BlackRock is only accelerating, and underlying business momentum remains strong," Fink said. The New York-based company's chief source of revenue is the management fees it earns as a percentage of the total AUM.

Persons: Brendan McDermid, Larry Fink, Fink, Kyle Sanders, Edward Jones, Larry, Goldman Sachs, . Fink, Cathy Seifert, Jaiveer Singh, Devika Syamnath, Jonathan Oatis Organizations: BlackRock, New York Stock Exchange, REUTERS, Federal Reserve, Goldman, CNBC, Revenue, The, Thomson Locations: New York City, U.S, BlackRock, The New York, Bengaluru

Citi's net income rose 2% to $3.5 billion from a year ago, while earnings per share remained stable at $1.63. Revenue at Citi's institutional clients group that houses its Wall Street operations rose 12% from a year ago, fueled by a 34% jump in investment banking fees. Citi's total provision for the credit portfolio rose to $17.6 billion from $16.3 billion a year ago. Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses. Rivals Wells Fargo (WFC.N) and JPMorgan Chase (JPM.N) also reported higher quarterly profit on Friday, boosted by a rise interest payments.

Persons: Nick Zieminski, Jane Fraser, Fraser, Rivals Wells, JPMorgan Chase, Manya Saini, Tatiana Bautzer, Lananh Nguyen, Arun Koyyur Organizations: Citibank, REUTERS, Federal, ICG, Citi, Rivals, JPMorgan, Thomson Locations: Jackson, Queens, New York City, U.S, Bengaluru, New York

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