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The Platinum Card® from American Express offers a ton of value from its welcome bonus and benefits. Introduction to American Express premium benefitsThe Platinum Card® from American Express has one of the highest annual fees of any publicly available consumer card: $695. Activating your Amex Platinum benefitsThe Platinum Card® from American Express Apply now lock icon An icon in the shape of lock. Apply and select your preferred metal Card design: classic Platinum, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Add your Amex Platinum card to your Uber accountThe Amex Platinum Card offers cardholders up to $200 in Uber Cash credits each calendar year.
Persons: Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, you've, you'll, It's, doled, it's, You'll, , cardholders Organizations: American Express, Read, Express, Hilton, Marriott, Saks, Entertainment, Disney, ESPN, The New York Times, Street, American, Walmart, TSA, Global, Saks Fifth, Spirit Airlines, Card, Hulu —, Hulu, Paramount, Nickelodeon, Comedy Central, MTV, CBS, Marriott Bonvoy, Gold, & Resorts, Fine Hotels & Resorts, Amex, Rockefeller, Avis, Hertz, Chevron, Saks Fifth Avenue Locations: Hulu
This card is the "best travel card for beginners" in our best travel rewards credit cards guide. This is one of the most generous credit card offers we've ever seen, especially for a credit card with such a low annual fee ($95, rates and fees). Other credit cards offer higher rewards in certain categories of spending Insider’s Take If you want an easy, no-fuss travel rewards credit card, the Capital One Venture Rewards Credit Card is a great fit. The current Capital One Venture Rewards Credit Card bonus, however, comes with an automatic $250 welcome credit as soon as you open your account. Global Entry/TSA PreCheck statement creditWelcome bonus aside, the Capital One Venture Rewards Credit Card is Business Insider's top-choice travel credit card for beginners for many good reasons.
Persons: hasn't, Here's, Miles, TSA PreCheck, you'll, Taylor, cardholders Organizations: Capital, Travelers, TSA, U.S, TSA PreCheck Locations: Grandma's, U.S
Among the wartime additions to Ukraine's arsenal is the US-made Bradley fighting vehicle, a formidable asset that continues proving its worth on the battlefield several decades after it first saw combat. A 'very effective' infantry fighting vehicleThe Bradleys were built as a response to the Soviet infantry fighting vehicles and entered service in the 1980s. A Bradley fighting vehicle from the US Army 2nd Armored division drives through Saudi Arabian desert on Jan. 18, 1991. Hassani RiberaThe Bradley infantry fighting vehicle is lighter than an Abrams tank by roughly 40 tons. Ukrainian soldiers on a Bradley infantry fighting vehicle near Avdiivka on Feb. 23, 2024.
Persons: , Bradley, Abrams, Kyiv didn't, Mark Cancian, Sadayuki Mikami, Ukraine's Abrams, Bradley isn't, Ribera, Tayler P, Schwamb, Pat Ryder, Bradleys, Cancian, What's, scrappy, GENYA SAVILOV Organizations: Service, Russia, Business, Abrams, Kyiv, US Marine Corps, US Army 2nd, AP, Bradley, US Army, Pentagon, Ukraine, Army, US Army National Guard, Spc, M1A2 Abrams, Tank, Marine Corps Base, 47th Mechanized Brigade, Center for Strategic, International Studies, intel, Getty, XM30 Mechanized Infantry, US, 47th, Mechanized Brigade Locations: Ukraine, US, Iraq, Saudi, Kyiv, Trzebien, Poland, Pendleton, Ukraine's Donbas, Anadolu, Avdiivka, Afghanistan, Ukrainian, Bradley, Western
This strategy can offer double-digit yields — at a cost
  + stars: | 2024-07-12 | by ( Michelle Fox | ) www.cnbc.com   time to read: +7 min
With tantalizing yields that can reach 10% or more, covered-call exchange-traded funds have become a popular investment. The result is income for investors, based on the option's premium, in return for capped upside if the option is exercised. The derivative income Morningstar category, dominated by covered-call ETFs, saw inflows of $24.3 billion over the past year, as of June. The largest actively-managed, covered-call ETF is the JPMorgan Equity Premium Income ETF , which has a 6.88% 30-day yield and an adjusted expense ratio of 0.35%. Investors should also be aware of the strategy being used by the fund managers, which will affect the upside potential and call premium.
Persons: Morningstar, Lan Anh Tran, Tran, JEPI, Rohan Reddy, Reddy, QYLD, XYLD, Rick Wedell, It's, Wedell, X's Reddy, erferring, Morningstar's Tran Organizations: Nasdaq, JPMorgan
Read previewNATO is moving forward with a new initiative that will see it take greater control over Western efforts to arm and train Ukraine's military. The move comes as the alliance aims to solidify the long-term support for Kyiv as it battles the Russian invasion. Growing concern about the potential change in US leadership has hung over the highly consequential NATO summit in Washington this week. Ukraine's President Volodymyr Zelenskyy and US President Joe Biden at the 2024 NATO summit. "There are 32 countries in the alliance," the NATO official who spoke on the condition of anonymity said Thursday.
Persons: , Donald Trump —, Donald Trump, NICHOLAS KAMM, Volodymyr Zelenskyy, Joe Biden, Susan Walsh, Trump, Ivo Daalder, Laurynas Organizations: Service, Kyiv, NATO, Ukraine —, Business, Wednesday, Assistance, Training, White, Getty, Ukraine Defense Contact, AP, Ukraine, Russian, Trump, Wall Street, Kiel Institute, Politico, Republican, Democratic Locations: Russian, Ukraine, Washington, Germany, Poland, Romania, Slovakia, Kyiv, Russia, Europe, NATO
No credit card benefits (or points) are worth it if you can't pay your balance in full. Although a lot of the media around credit card benefits focuses primarily on using points, there are many other perks that aren't as well-known and can save users thousands of dollars. Please note that I don't recommend using credit cards this way if you don't pay off the full balance each month. Read our Marriott Bonvoy Business credit card review and our IHG One Rewards Premier credit card review. DiscountsMost major companies offer discounts through credit card linked offers, and they're often on items you're already using or buying.
Persons: Chase, I've, they're, Wells, Taryn Williams, Taryn, Instagram Read Organizations: Marriott, Card, Marriott Bonvoy, Insurance, American Express, Paramount, TSA, U.S, Popular, Chase Travel, Capital, University of Pennsylvania Locations: Latin America, Antarctica, America, India, Southern California
Insider Today: Biden's denial
  + stars: | 2024-07-07 | by ( Matt Turner | ) www.businessinsider.com   time to read: +4 min
This week's dispatchWin McNamee/Getty Images; iStock; Rebecca Zisser/BIPressure on Biden buildsUS President Joe Biden had a terrible debate. He's done little to turn things around since and appears to be in denial over the damage done to his campaign. AdvertisementThat's the story of a critical 10-day period in the US presidential race, which kicked off with Biden's historically bad debate performance. Biden's poor performance led to a Democrat freak out and growing calls for Biden to step aside. Neither sentiment is likely to satisfy the many Democrats who have serious concerns about Biden's mental acuity and electability.
Persons: , Win McNamee, Rebecca Zisser, Joe Biden, He's, Biden, Donald Trump, ABC's George Stephanopoulos, Trump, Lorenzo Matteucci, It's, Alyssa Powell, they're, Tyler Le, Jared Siskin, Bobby Jain, Pete Ballmer, Steve Ballmer Organizations: Service, Business, Biden, Democrats, Republican, Trump, Madison, Park Conservancy, Jain Locations: Park
The U.S. chips industry is expected face a shortage of 67,000 technicians, computer scientists and engineers by 2030, while the broader U.S. economy is set to have a gap of 1.4 million such workers, according to a 2023 study from the Semiconductor Industry Association. A wafer sorter inside the GlobalFoundries semiconductor manufacturing facility in Malta, New York, on June 18, 2024. The company creates chips for everyday products from electronics and phones to autos, in addition to components for space and defense. The GlobalFoundries semiconductor manufacturing facility in Malta, New York, on June 18, 2024. Morgan Woods, 28, started out in Malta, New York, at GlobalFoundries' fab facility as a technician in 2021.
Persons: Cindy Schultz, Lockheed Martin, Pradheepa Raman, Raman, Morgan Woods, Woods, GlobalFoundries Organizations: Semiconductor Industry Association, Deloitte, Bloomberg, Getty, General Motors, Lockheed, CNBC, Workers, GM, U.S Locations: U.S, Malta , New York, New York, Vermont
Read previewRussia's invasion of Ukraine has resulted in a surge in demand, orders, and manufacturing of Western weaponry, including decades-old equipment and even gear that had gone out of production. The result is more orders and manufacturing, even of Western equipment where production had stopped. Its maker, Lockheed Martin, is increasing production as well as its production of the antitank missile system. Russia has also ramped up its wartime production, which could aid it in the future and not just against Ukraine. One solution would have been countries ramping up their orders and production earlier in the war, Di Mizio said.
Persons: , it's, Jan Kallberg, hasn't, Lockheed Martin, Diehl, Timothy Wright, Mark Cancian, Vladimir Putin, Mikhail Klimentyev, Mattias Eken, Cancian, Diego Herrera Carcedo, Giorgio Di Mizio, Kallberg, Di Mizio Organizations: Service, Business, Manufacturing, Center for, Army Cyber Institute, US Army, Air Missile System, High Mobility Artillery Rocket Systems, Getty, IRIS, Patriot, International Institute for Strategic Studies, Financial Times, Center for Strategic, International Studies, Russia Western, Military, Sputnik, REUTERS, Ukraine, Russia, RAND Corporation, Anadolu Agency Locations: Ukraine, Russia, West, Norway, Europe, Bakhmut, Donetsk Oblast, France, Kremlin, REUTERS Russia
Goldman Sachs welcomed three new stocks into its conviction list as the second half of the trading year commences. Cloud stock Snowflake, meanwhile, is at an "attractive" entry point, Goldman said, as shares have dived more than 28% so far this year. Despite this, Goldman sees Snowflake's technology as key to the next phase of the artificial intelligence revolution. The average analyst surveyed by LSEG sees the stock rebounding 49% over the next year. Snowflake shares rose more than 5% in Monday's session.
Persons: Goldman Sachs, Goldman, LSEG, Sridhar, Snowflake Organizations: Fox Corp, Fox, Goldman, Sporting, Wall Locations: Israel
CNBC Daily Open: S&P 500 briefly crosses 5,500, closes lower
  + stars: | 2024-06-21 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. S&P 500 slips from record highThe S&P 500 briefly passed the 5,500 mark for the first time before ending the session lower. Open AI challengerAnthropic, a leading AI competitor to OpenAI, unveiled Claude 3.5 Sonnet, its most advanced AI model to date. [PRO] AI real estateCiti analysts pinpoint a "compelling emerging" real estate trend fueled by AI and nearshoring.
Persons: Gilead, Anthropic, Claude, Donald Trump's, Trump, Masato Kanda Organizations: New York Stock Exchange, CNBC, Nasdaq, Nvidia, Dow Jones, Gilead Sciences, Google, Trump Media, New, Nikkei, Bank of, Reuters, United, CSI, Citi Locations: New York City, U.S, New York, Japan, United States, Asia, Pacific
This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.
Persons: , John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia
But it will remain a big, big trend. How has if at all, Brexit, affected the U.K. tech scene? Arjun KharpalAre there other challenges at the moment, as you see them to the U.K. tech landscape? I'm gonna go with the amount of VC funding in U.K. tech startups for 2025. Sanjot MalhiI would say that is the amount of funding in U.K. AI startups.
Persons: Tom Chitty, Arjun, we'll, Arjun Kharpal, I've, Sanjot, He's, It's, Tom Chitty I've, we've, it's, Arjun Kharpal Sanjot, fintech, we're, you've, let's, Tom Chitty We're, Franklin Templeton, they're, Masa, Softbank, that's, Arjun Kharpal Sanjay, Emmanuel, Macron, hasn't, who's, Emmanuel Macron, I'm, Sanjot Malhi, Arjun Kharpal That's, Kharpal, Tom Chitty Sanjot Organizations: HSBC Innovation Banking, CNBC, Northzone, Hague Cricket Club, European Union, Competition, Markets Authority, London Stock Exchange, London, Masa, Viva Tech, Mistral, Nvidia Locations: Europe, Dealroom, France, China, London, beyondthevalley@cnbc.com, Netherlands, India, The Hague, Germany, Sweden, North America, Asia, San Francisco, Beijing, Tel Aviv, Bangalore, U.S, British, doesn't, Ukraine, IPOs
Related storiesAccording to Cappel, their first two trips were filled, and all guests expressed interest in another "phone-free" trip. AdvertisementShe acknowledged that tech-free travel hasn't become completely mainstream, "People are still a little intimidated by the idea." The reasons for going phone-free when traveling varyOne popular motivation is for couples to spend quality time with their partners. Phone-free travel can also help with burnoutLast summer, nonprofit strategist Izzy Doonan did a tech-free week-long trip in the Cascades with her partner and another couple. FTLO provides the trip leaders' phone numbers and full itineraries with contact information to travelers to share with whoever might need it.
Persons: , they're, Hector Hughes, Hughes, Tara Cappel, We're, Cappel, haven't, it's, Elena Mnayarji, Elena, Izzy Doonan, Doonan, wasn't, Mnayarji Organizations: Service, Business, Pew Research Center, Group, Berkeley, Logistics Locations: Thailand, Scottish, Mallorca, FTLO
Ukraine’s President Volodymyr Zelenskyy attends a military honour ceremony on June 7, 2024 in Paris, France. Marc Piasecki | Getty Images News | Getty ImagesUkraine's leadership has been talking about this weekend's peace summit in Switzerland for months, desperately trying to drum up international enthusiasm for — and investment in — Kyiv's peace plan. watch nowRussia has repeatedly slammed the gathering, saying a peace summit without its participation is meaningless. Ukraine's President Volodymyr Zelenskyy accused Russia and China of working together to sabotage the summit and pressurizing other countries not to attend. Dubovyk dismissed the absence of countries like China and Saudi Arabia, saying their presence at previous, similar meetings had not helped to bring peace closer.
Persons: Volodymyr Zelenskyy, Marc Piasecki, wasn't, Russia —, What's, Joe Biden, Kamala Harris, Jake Sullivan, Zelenskyy, Putin, Shelby Magid, Viola Amherd, Ignazio Cassis, Volodymyr Dubovyk, Dubovyk Organizations: Getty, Peace, Kremlin, CNBC, Kyiv, House, Omaha Beach, Anadolu, Council's Eurasia, Ukraine, Swiss, Democratic, Center for Locations: Paris, France, Switzerland, Peace, Ukraine, Swiss, Bürgenstock, Russia, China, Saudi Arabia, Brazil, India, South Africa, Turkey, Europe, Asia, Africa, Latin America, cyberattacks, Central, Eastern Europe, U.S, California, Hollywood, Moscow, Normandy, Ukrainian, Bern, Russian, Kharkiv
The spotlight has seemingly shifted in the past year toward companies going to market, hoping to ride on the coattails of India's growth story. Growing foreign listingsThe allure of India's stock markets has trickled to companies beyond its shores — with foreign entities eyeing a share of its growth. Such listings add strength to India's markets, says M&G Investment's Asian Equities Portfolio Manager Vikas Pershad. The optimism on India's IPO boom is sometimes marred by concerns over elevated valuations of its stock market — and whether it is headed toward a bubble. "When we look at India, we see continued economic and earnings per share growth and higher levels of profitability," Dorson from Global X told CNBC's Inside India.
Persons: Swiggy, Debarchan Chatterjee, Neil Bahal, Dhruba Jyoti Sengupta, Ola, PhonePe, Ola Electric, Sengupta, Vikas Pershad, Malcolm Dorson, CNBC's Organizations: Getty, Reliance Industries, Adani Enterprises, Mankind Pharma, Negen, Securities, Exchange Board, Wrise Private, Aakash Educational Services, Aakash Educational, Walmart, United Arab, Hyundai, Insurance Corporation of India, Maruti Suzuki, Hindustan Unilever, Siemens, ABB India, Global Locations: Kolkata, India, SEBI, United Arab Emirates, Sri Lanka, Hyundai India, India's, Maruti Suzuki India, Hindustan
Goetz Alebrand, head of ocean freight at DHL Global Forwarding Americas, said he is not optimistic freight rates will decline anytime soon. "It is unlikely that the situation will resolve itself soon and [ocean freight] rate levels might not ease up before Chinese New Year," Alebrand said. Air freight prices and demand are going higher According to freight intelligence firm Xeneta, China to North America air freight spot rates increased 43%, to $4.88 per kilogram, year-on-year in May. According to ocean freight data from FreightWaves SONAR, container bookings and freight orders from shippers to the ocean carriers are down 48% month-over-month. Xeneta data tracking ocean freight rates from the Far East to the U.S. East Coast, West Coast and Gulf Coast ports shows the historic run.
Persons: Joe Giddens, Paul Brashier, Brashier, Goetz Alebrand, Alebrand, Alan Murphy, Murphy, Peter Boockvar, Boockvar, We've, Nate Herman, Xeneta, Daniel Ives, Niall van de, van de, Good Hope Organizations: Federal Reserve, CNBC, ITS Logistics, DHL Global, Intelligence, Defense Intelligence, U.S ., Bleakley Financial, American Apparel and Footwear Association, Global, ", Apple, Wedbush Securities, Trade, Good Locations: Asia, Europe, Sea, Red, Africa, Shanghai, Rotterdam, Genoa, U.S . West Coast, East Coast, U.S, China, North America, U.S . East Coast , West Coast, Gulf Coast
Opinion | America Isn’t Leading the World
  + stars: | 2024-06-11 | by ( Stephen Wertheim | ) www.nytimes.com   time to read: +2 min
After four years of Donald Trump, Joe Biden was supposed to restore the United States to a position of global leadership. Yet there is more to global leadership than backing friends and beating back foes. After decades of dubious warmaking, the United States would become the global good guy again, uniting the world to resist the Kremlin’s blatant affront to law and order. The United States now must contend with an aggrieved and unpredictable nuclear peer in Moscow. The United States is not outmatched, exactly.
Persons: Donald Trump, Joe Biden, adroitly, Israel, Trump Organizations: Washington, NATO, White House, American entente, Pentagon Locations: United States, Ukraine, Asia, Russia, Washington, Moscow, China, Iran, North Korea, Taiwan
America's millionaire population grew 7.3% in 2023 to 7.5 million people, according to a report from Capgemini . Their combined fortunes grew to $26.1 trillion, up 7% from 2022. Capgemini defines millionaires as those with investible assets of $1 million or more not including primary residence, collectibles or consumer durables. The number of millionaires worldwide grew 5.1% last year, to 22.8 million, according to the report. Their combined fortunes grew to a record $86.8 trillion.
Persons: Robert Frank, Elias Ghanem, Ghanem Organizations: B2m, Capgemini Research Institute, Financial Services, U.S, Nasdaq Locations: Capgemini, North America, Asia, Pacific, Europe, America, Africa, North, U.S
Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | ReutersThis report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Far from rewarding Prime Minister Narendra Modi's party with a supermajority — as polls had predicted — Indians elected 240 BJP lawmakers to India's 543-seat Parliament, which falls short of a simple majority for Modi's party. However, as the largest party, the BJP will form a coalition government thanks to its alliance with smaller parties ahead of the elections. This "radical transformation" is expected to lead to a significantly more efficient economy and help India's currency, according to Sullivan.
Persons: Narendra Modi, Adnan Abidi, Narendra Modi's, Modi, Gavekal, Tom Miller, Udith Sikand, Malcolm Dorson, Aastha Gudwani, who's, India's, Morgan, Ridham Desai, Will, Goldman Sachs, Abhiram Eleswarapu, Eleswarapu, Tanvir Gill, Sri Jegarajah, Sumathi Bala, Seema Mody, Amala Balakrishner, Vinay Dube, could've, James Sullivan, Sullivan Organizations: Indian, Bharatiya Janata Party, BJP, Reuters, CNBC, Global, of America, Gavekal Research, India Active, BNP, CNBC Pro, JPMorgan, U.S . Federal Locations: New Delhi, India, CNBC's
Starbucks teams up with Grubhub on delivery
  + stars: | 2024-06-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +2 min
New York CNN —Starbucks is teaming up with Grubhub as it tries to boost sales after a challenging quarter. By August, Starbucks items should be available on Grubhub throughout the country, the company said. Prior to the Grubhub partnership, customers could already order Starbucks items via DoorDash and Uber Eats. Since the pandemic, more consumers have been getting their cafe and restaurant orders to-go, via delivery or pickup. In addition to broadening access to delivery, Starbucks is taking other steps to try to jumpstart sales, like updating its app, offering new menu items and testing staying open overnight.
Persons: Uber, Laxman Narasimhan, , Meg Mathes Organizations: New, New York CNN, Starbucks Locations: New York, Pennsylvania , Colorado, Illinois, U.S
Read previewFuture wars could be decided by electronic warfare like Russia and Ukraine are using right now to interrupt communications, defeat unmanned platforms, and even degrade precision weaponry. For the US, if it doesn't dominate that invisible domain and win the fight in the electromagnetic spectrum, it will "lose" and do so "very quickly," an Air Force wing commander said. Gen. Ed Barker, the Program Executive Officer for Intelligence, Electronic Warfare and Sensors, and US Air Force Col. Josh Koslov, commander of the 350th Spectrum Warfare Wing, discussed the challenges facing the US in the electronic warfare space and the efforts to find solutions to these problems. Related VideoA man holds a portable electronic warfare system at an event in Ukraine earlier this year. Increased US interest in it more recently has been driven by the ongoing conflict in Ukraine, where electronic warfare tactics, such as GPS spoofing and signal jamming, have shaped the fighting.
Persons: , Ed Barker, Josh Koslov, Koslov, Barker, Simon Mictizic, it's, Daniel Patt, YURIY DYACHYSHYN, Patt, Denis Abramov Organizations: Service, Air Force, Business, C4ISRNET Conference, US, Intelligence, Electronic Warfare, US Air Force, 350th Spectrum Warfare, Getty, US Army's 1st Infantry Division, US Army, Staff, Hudson Institute, JDAMs . Volunteers, Ukrainian, Kvertus, Russian Defense Ministry, Mil.ru Locations: Russia, Ukraine, China, JDAMs, Lviv region, AFP, Russian
I've stopped making friends at work
  + stars: | 2024-06-04 | by ( Alexandra Karplus | ) www.businessinsider.com   time to read: +8 min
Because the city has a large transient population, I've seen many friends and coworkers come and go — but even this has had benefits. I've made trips to visit my work friends in their new homes around the world. Work friendships started back in New York and are still going strongThese types of strong connections with colleagues didn't just start in Singapore. More than half of those surveyed said they'd met a close friend through their work or a spouse's work. I haven't been introduced to any of my coworkers' friends or partners, nor has my husband met any of them.
Persons: , Peter, he'd, I've, I'm, didn't, Jacques Torres Chocolate, lockdowns, they'd, Slack, Vivek Murthy, Murthy, haven't Organizations: Service, Singapore Botanic Gardens, Business, Global, Business Insider, Research, Survey Center, American, Associated Press Locations: Singapore, New York, Guildford, Bali, , Manhattan, Dumbo , Brooklyn, Bangkok
The prominent OPEC+ oil producers' alliance is awaiting concrete central bank action on interest rates before factoring in the potential impact on the energy demand landscape, according to Saudi Arabia's energy minister. The production strategy decisions come at a time when OPEC's own forecasts show a 2.25 million barrel-per-day increase in demand, according to the Monthly Oil Market Report of May. Energy costs spiked worldwide in the wake of Russia's full-fledged invasion of Ukraine, aggravating the economic downturn that followed the Covid-19 pandemic. Global institutions have previously mentioned energy prices as underpinning inflationary concerns. In turn, the piled-on inflation has muzzled oil demand.
Persons: Prince Abdulaziz bin Salman, Organizations: Organization of, Petroleum, Monthly Locations: OPEC, Saudi, China, Ukraine
The competing strains on U.S. global power came into sharp focus at a security conference on Sunday, where China accused the United States of stoking tensions around Taiwan and the South China Sea, and President Volodymyr Zelensky of Ukraine was seeking greater support for his embattled country. This year, the United States Defense Secretary Lloyd J. Austin III and China’s defense minister, Adm. Dong Jun, held talks, something the top defense officials from the two countries have not always done at this gathering. But Admiral Dong made clear that China remained deeply antagonistic to U.S. influence and alliance-building across Asia, especially American support for Taiwan, the island democracy that Beijing claims as its territory. “These malign intentions are drawing Taiwan to the dangers of war,” Admiral Dong told the meeting after making an oblique but unmistakable reference to U.S. military and political support for Taiwan. “Anyone who dares split Taiwan from China will be smashed to pieces and court their own destruction.”
Persons: Volodymyr Zelensky, Lloyd J, Austin III, Dong Jun, Admiral Dong, Organizations: United States Defense, Taiwan Locations: China, United States, Taiwan, South China, Ukraine, Singapore, U.S, Asia, Beijing
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