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Chartbook: Electricity and diesel useIndustrial electricity use and distillate fuel oil consumption are both correlated with the manufacturing and freight cycle and therefore with the purchasing managers index. Distillate fuel oil consumption actually rose by almost +0.8% in the three months from March to May compared with a year earlier. The strength of domestic distillate consumption helps explain why fuel oil inventories have remained well below the prior ten-year seasonal average. DISTILLATE SUPPLIEDThe resilience of industrial electricity use and especially apparent distillate fuel oil consumption may indicate the ISM manufacturing index is overstating the depth of the downturn. Accumulation of secondary and tertiary stocks in April and May would imply lower apparent consumption in June and July.

Persons: Guan, John Kemp, Barbara Lewis Organizations: Angeles Refinery, California Air Resources Board, The Institute, Supply, U.S . Energy Information Administration, U.S, Thomson, Reuters Locations: Angeles, California, Carson , California, U.S, doldrums

REUTERS/Bing Guan/File PhotoAug 1 (Reuters) - A U.S. regulation restricting ownership of gun accessories known as pistol braces is likely illegal, a federal appeals court ruled Tuesday, a victory for a gun rights group challenging the rule. Circuit Court of Appeals found that U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives finalized the rule in January without giving the public a meaningful chance to comment on it. The court did not immediately block enforcement of the rule, instead sending the case back to U.S. District Judge Reed O'Connor in Fort Worth, Texas. Pistol braces were first marketed in 2012 as a way of attaching a pistol to the shooter's forearm, stabilizing it and making it easier to use for disabled people. The disputed rule classifies some guns equipped with pistol braces as short-barrel rifles, based on several factors including their size and weight and the manufacturers' marketing materials.

Persons: Dimitri Karras, Bing Guan, District Judge Reed O'Connor, O'Connor, Joe Biden's, Cody Wisniewski, Jerry Smith, Don Willett, Stephen Higginson, Smith, Willett, Ronald Reagan, Donald Trump, Higginson, Barack Obama, ‘, Higginson ‘, ’, Brendan Pierson, David Gregorio, Gerry Doyle Organizations: Alcohol, Firearms, Tobacco, REUTERS, Circuit, Appeals, . Bureau, Explosives, District, Coalition, ATF, U.S . Department of Justice, Fifth, Congress, Republican, Democratic, Thomson Locations: Oceanside , California, U.S, New Orleans, Fort Worth , Texas, New York

☆ Electric cars aren’t just for the wealthy anymore
▼ + stars: | 2023-07-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Thanks to a combination of new models, more production and new tax laws, electric vehicles are no longer just for the wealthy. Currently the “days supply” of electric vehicles – a measure of the number units on dealer lots relative to how quickly they sell – is now twice that of new vehicles overall. The biggest bargain among electric vehicles currently, whether you lease or buy, happens to be one that’s going away soon. A Chevrolet Bolt EV sits parked at a charging station at Stewart Chevrolet on April 25, 2023 in Colma, California. For almost $10,000 less, in terms of sticker price, Hyundai offers the soon-to-be redesigned Kona Electric.

Persons: Kia, Erik Pendzich, it’s, Mark Luxcombe, Wolters, “ There’s, ” Luxcombe, Brian Moody, Moody, ”, Stewart, Justin Sullivan, Kia EV6, Josh Lefkowitz, Tony Quiroga, Bing Guan, Quiroga, Chevrolet Bolt Organizations: CNN, General Motors, Ford, Hyundai, Kia, Volkswagen, GT, New York, Wolters Kluwer, Cox Automotive, Chevrolet Bolt, Stewart Chevrolet, GM, Angeles, Kona, EV, Chevrolet Locations: America, Colma , California, Los Angeles , California

☆ Morgan Stanley has tech to thank for what could boost a long-dormant part of its business
▼ + stars: | 2023-07-17 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Morgan Stanley (MS) is set to report quarterly earnings before the opening bell Tuesday. While working on a transition to depend more on wealth management, investment banking is still an important aspect of Morgan Stanley's overall business. Morgan Stanley had a hand in the Cava IPO as a book-runner. It pays us to be patient with the stocks of Morgan Stanley and Wells Fargo, which have been underperformers year-to-date compared to the S & P 500 . Morgan Stanley will likely benefit as companies turn to its investment banking services for ambitious deals.

Persons: Morgan Stanley, There's, Morgan, Morgan Stanley's, Goldman Sachs, Jim Cramer, Jim, Lina Khan, Activision Blizzard, IPOs, Wells, dealmakers, there's, Jim Cramer's, Bing Guan Organizations: Investment, JPMorgan, IB, Federal Trade, Microsoft, Activision, Renaissance Capital, Companies, Semiconductor, ARM Holdings, Silicon Valley Bank, Federal Reserve, Club, Nasdaq, CNBC, Bloomberg, Getty Locations: Cava, Silicon, Wells Fargo, U.S

☆ EV Charging Networks Prepare for Cyberattacks
▼ + stars: | 2023-07-14 | by ( Catherine Stupp | ) www.wsj.com time to read: +6 min

Efforts to address the security of EV charging stations are in early stages. A U.S. infrastructure law passed in 2021 includes $7.5 billion in funding for states to expand EV charging stations. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. Tesla is poised to dominate EV charging in the U.S., and auto manufacturers including General Motors, Ford, Volvo and Rivian signed on to adopt Tesla’s charging standard this year. Last year, the city of Amsterdam for the first time included cybersecurity requirements in a public tender for public EV charging stations.

Persons: ”, van, Biden, cybersecurity, Tomas Bodeklint, Anjos Nijk, ” Nijk, Jay Johnson, ” Johnson, Tesla, Rivian, Teza Mukkavilli, Mukkavilli, BING GUAN, REUTERS ChargePoint, van den, Jaap de Munnik, de Munnik, Catherine Stupp Organizations: European, Research Institutes of Sweden, EV, European Network, Cyber Security, Sandia National Laboratories, “, Nationwide, Sandia, General Motors, Ford, Volvo, Benz Group, N.M, REUTERS, Enza Locations: Europe, U.S, Netherlands, European Union, South Dakota, York, North America, Corona, ElaadNL, Amsterdam, Dutch

☆ Quality of new vehicles in US declining on more tech use, study shows
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

Build quality of certain parts such as audio systems and cup-holders have resulted in quality issues, the report said, which collected data from 93,380 purchasers and lessees of 2023 model-year vehicles. Problems per 100 vehicles (PP100) rose 30 PP100 during the past two years, the report said. A lower score reflects higher vehicle quality. The wide range of quality problems in the automotive industry is "a phenomenon not seen in the 37-year history of the Initial Quality Study", said J.D Power's senior director of auto benchmarking Frank Hanley. Dodge ranked the highest overall in terms of initial quality, while Chrysler and Volvo were jointly ranked lowest, according to J.D.

Persons: Bing Guan, J.D Power's, Frank Hanley, Hanley, Nathan Gomes, Shilpi Majumdar Organizations: Tesla Inc, Dodge, Chrysler, Volvo, Thomson Locations: United States, Carson , California, U.S, Bengaluru

[1/2] A view of signage at a FedEx Ground distribution center in Carson, California, U.S., September 16, 2022. REUTERS/Bing Guan/File PhotoLOS ANGELES, June 20 (Reuters) - FedEx (FDX.N) on Tuesday said it will merge its contractor-based Ground delivery operations in Canada into its company-operated Express unit and convert contractors into employees. FedEx made a similar change in the U.S. states of Alaska and Hawaii last year. Still, the company said there will be U.S. markets where packages shift from Express to Ground, its outsourced delivery arm. In those cases, the company said it would continue to use delivery contractors as part of its "hybrid" worker model.

Persons: Bing Guan, D.E, Shaw, Lisa Baertlein, Leslie Adler, Lisa Shumaker Organizations: FedEx, REUTERS, United Parcel Service, Company, Thomson Locations: Carson , California, U.S, Canada, Alaska, Hawaii, Memphis , Tennessee, Los Angeles

☆ How we feel about banks being required to bolster rainy-day funds after SVB failure
▼ + stars: | 2023-06-05 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

The Wall Street Journal reported Monday that financial industry regulators could announce a proposal, as early as this month, seeking to increase the rainy-day funds of big banks. Morgan Stanley and Wells Fargo, while never a worry during the recent mini-banking crisis, have both seen their stocks decline in the wake of the SVB collapse and struggle to regain their footing. Should Morgan Stanley really be penalized more than others just because it offers fee-based wealth management solutions, which through strong execution have grown? However, we're inclined to consider a capital requirement change opportunistically, especially as it relates to Morgan Stanley. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: financials Morgan Stanley, Wells, it's, Morgan Stanley, isn't, Jim Cramer's, Jim Cramer, Jim, Bing Guan Organizations: Street, Bank, WSJ, Assistance, CNBC, Bloomberg, Getty Locations: Wells Fargo

☆ Companies are betting on a demand rebound in second half of year, DHL says
▼ + stars: | 2023-05-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

That marks the second consecutive month that U.S. imports increased and are higher than 2019 levels, according to data provided to CNBC from Descartes Datamyne, a global trade data platform. The combination of a slow ramp up from "Zero Covid" in China and the reopening of manufacturing plants in the country delayed exports. The top Vietnamese imports in the latest data are wrought iron fencing and plant stands, imported for companies including Home Depot. Black jewelry bags for Zales and men's and boy's t-shirts for Nike rounded out the list of U.S. imports data from China, Vietnam, Thailand, and India reviewed by CNBC. In April, the trade data shows that vitamins and containers of pencils were bound from India to Walmart , and zip polos and t-shirts for Guess .

☆ Managing Rich People’s Money Isn’t Always Easy
▼ + stars: | 2023-04-19 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Morgan Stanley procures its deposits via a network of affluent clients. But it isn’t just free money. Morgan Stanley ’s huge wealth management business generates significant net interest income, about 15% of its net revenue in the first quarter. So it was able to benefit from the same rising-rate forces still helping a lot of its large retail banking peers. That provided a ballast to its Wall Street unit, which like most peers, including Goldman Sachs , suffered from drop-offs in activity compared with a year earlier.

REUTERS/Bing Guan/File PhotoNEW YORK, April 2 (Reuters) - New York City police have thrown up metal barriers around Trump Tower and blocked roads near Manhattan Criminal Courthouse as they brace for potential protests ahead of Donald Trump's expected surrender to prosecutors on Tuesday. The downtown courthouse, home to criminal and supreme courts, will shut down some courtrooms ahead of Trump's expected appearance, a court official said. However, many Trump supporters online have expressed wariness about public demonstrations, even after Trump called for them, concerned they could be arrested. Trump is expected to fly to New York on Monday from Florida and spend the night at Trump Tower, before arriving early Tuesday morning at the courthouse, a Trump adviser said. A court official told Reuters that courtrooms on higher floors of the courthouse will be closed at 1 p.m., shortly before Trump's expected 2:15 p.m. (1815 GMT) arraignment.

REUTERS/Bing GuanMarch 14 (Reuters) - U.S. President Joe Biden will announce an executive order on Tuesday that reinforces background checks for gun buyers in what the White House is promoting as the most comprehensive policy the president can enact without Congress. In a country with more than 40,000 gun deaths per year, Biden is betting that voters will embrace more proactive gun control. The Biden administration is pointing to public opinion polls that show a majority of Americans support background checks. A Reuters/Ipsos poll last year found 84% of respondents supported background checks for all firearms sales and 70% backed red flag laws. Some gun rights advocates oppose background checks, saying they infringe on constitutional rights to possess arms while failing to stop criminals from getting them.

REUTERS/Bing GuanNEW YORK, March 9 (Reuters) - A federal judge on Thursday blocked 10 companies from selling certain gun components in New York while the state pursues a lawsuit against them aimed at ending sales of illegal, untraceable "ghost guns." The preliminary order by U.S. District Judge Jesse Furman in Manhattan adopts an agreement reached between New York Attorney General Letitia James and the companies last month, court records show. "Today's court order will help protect New York communities and save New Yorkers' lives," James said in a statement. The lawsuits claimed that the companies were creating a public nuisance by selling gun frames and receivers without serial numbers to consumers. Three defendants have settled with New York City, agreeing to stop selling guns there.

One man carried out his attack with a gun banned by the state, while the other used a gun he legally owned, police said. Even in California, a state with some of the country's strictest gun laws, the limits can be sidestepped. The prospects for new federal gun laws are dim. The majority of guns used in mass shootings were obtained legally, according to the nonprofit Violence Project, which maintains a database of attacks. Chunli Zhao legally owned the gun used in the Half Moon Bay attack on Monday, police said.

☆ Netflix set for slowest revenue growth as ad plan struggles to gain traction
▼ + stars: | 2023-01-17 | by ( Eva Mathews | ) www.reuters.com time to read: +4 min

REUTERS/Bing GuanJan 17 (Reuters) - Netflix Inc (NFLX.O) is expected to report its slowest quarterly revenue growth on Thursday as its ad-supported plan struggles to attract customers in the saturating U.S. market, which could pressure the company to pull back on content spending this year. "Given current interest rates, Netflix will have to be very selective about green-lighting content and how they would finance it." It returned to subscriber growth in the third quarter, but its stock, an investor favorite during its years of rapid growth, still ended the year with a drop of more than 50%. "As overall streaming growth flattens out, most of the more mature streaming platforms have leveled off as well," MoffettNathanson said, adding that Netflix's reach fell by 200 basis points in the quarter. Reuters GraphicsStill, some analysts believe that the ad-supported plan will pay off in the long run, especially in developing markets, where spending power is weaker.

☆ Netflix to live-stream Screen Actors Guild Awards
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Bing GuanJan 11 (Reuters) - Netflix Inc (NFLX.O) will live-stream the annual Screen Actors Guild (SAG) Awards beginning in 2024, as it explores bringing live programming to its service. The streaming giant stepped in to carry the SAG Awards, which had lost its broadcast home on cable networks TNT and TBS. Netflix will stream this year's ceremony on its YouTube Channel and, next year, stream the awards show to subscribers via Netflix's service. Nominees will be announced at 7 a.m. Pacific time on Wednesday and the 29th Annual SAG awards take place on Feb. 26. Netflix is in the early days of testing live broadcasts, as it contemplates bringing live sports to the platform.

☆ The U.S. passed a historic climate deal this year — here's a recap of what's in the bill
▼ + stars: | 2022-12-30 | by ( Emma Newburger | ) www.cnbc.com time to read: +11 min

The IRA's provisions have major implications for clean energy and manufacturing businesses, climate startups and consumers in the coming years. As 2022 comes to a close, here's a look back at the key elements in the legislation that climate and clean energy advocates will be monitoring in 2023. Taking aim at methane gas emissionsSome pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, California. Mario Tama | Getty ImagesThe package imposes a tax on energy producers that exceed a certain level of methane gas emissions. And the bill has a hydrogen production tax credit, which provides hydrogen producers with a credit based on the climate attributes of their production methods.

Paid sick leave was one of the outstanding issues in the negotiations. Rail workers get zero paid sick days. Paid sick leave is a basic human right. The measure to provide seven paid sick days did not win the required 60-vote supermajority in the Senate and was not endorsed by the White House. Senator Bernie Sanders and others denounced railroad companies for refusing to offer paid sick leave.

WASHINGTON/LOS ANGELES, Nov 29 (Reuters) - The U.S. House of Representatives plans to vote Wednesday to block a potential a U.S. rail strike after President Joe Biden warned of the dire economic consequences of a rail disruption that could happen as early as Dec. 9. U.S. House Speaker Nancy Pelosi said lawmakers will vote Wednesday to impose a tentative contract deal struck in September. At a White House meeting Tuesday with congressional leaders, the Democratic president was asked if he was confident he could avert a rail strike, and responded, "I am confident." Labor unions have criticized the railroads’ sick leave and attendance policies and the lack of paid sick days for short-term illness. There are no paid sick days under the tentative deal.

☆ U.S. Chamber urges Congress to avert rail strike, extend Boeing 737 MAX deadline
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Bing Guan/File PhotoWASHINGTON, Nov 15 (Reuters) - The U.S. Chamber of Commerce on Tuesday urged Congress to take action on a number of issues before ending work for the year, including preventing a potential rail strike and extending a deadline for the Boeing (BA.N) 737 MAX 7 and 10 to get certified. The largest U.S. business group noted that three rail unions have rejected a rail contract. "A rail strike would be catastrophic for our economy, costing $2 billion per day and imposing enormous challenges to businesses, local communities, and commuters," the Chamber letter said. The Chamber also backed Boeing efforts to seek a waiver of a December deadline imposing a new safety standard for modern cockpit alerts for the MAX 7 and MAX 10. Reporting by David Shepardson; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. oil refiners to keep running at breakneck speeds in fourth quarter
▼ + stars: | 2022-11-04 | by ( Erwin Seba | ) www.reuters.com time to read: +2 min

REUTERS/Bing GuanHOUSTON, Nov 4 (Reuters) - U.S. oil refiners this quarter will run their plants at breakneck rates, near or above 90% of capacity, as tight fuel supplies spur high profits and operating rates, according to company forecasts and analysts surveyed by Reuters. The refining industry has minted huge profits this year on buoyant demand for gasoline, diesel and jet fuel. PBF restarted units idled during the pandemic at its Paulsboro, N.J., plant to produce more diesel and jet fuel, with the company's refineries running at a record-high 980,000 barrels per day last quarter, Young said. Overall, refiners are forecasting production will remain close to third quarter levels, which averaged 92.75%, said Matthew Blair, refining analyst at researcher Tudor Pickering & Holt. Diesel stocks in particular “are well below typical levels and are running at some 20% below the seasonal average,” Paisie said.

☆ Warehouses and employers like Amazon bring new jobs and higher wages for some blue-collar workers, but they can be hard on cities — and on the human body
▼ + stars: | 2022-10-23 | by ( Matt Turner | Jordan Parker Erb | Hallam Bullock | ) www.businessinsider.com time to read: +4 min

Hi, I'm Matt Turner, the editor in chief of business at Insider. On the agenda today:But first: This week, Insider launched an ambitious new package, Warehouse Nation, which investigates how the warehousing boom has shaped the US. Deputy editor Jake Swearingen is here to take us inside the project. Kathy Willens/AP PhotoThe US economy's post-pandemic party is over, so get ready to endure the mother of all hangovers. We outlined the winners and losers in Solomon's latest reorg, and what that might mean for the bank's future performance.

From July through September, Netflix attracted 2.4 million new subscribers worldwide, more than double the 1.07 million consensus forecast of analysts polled by Refinitiv. Netflix now has a total of 223.1 million subscribers around the world. For the third quarter, Netflix topped Wall Street projections with revenue of $7.9 billion, up 6% from a year earlier. The company's forecast of 4.5 million customer pickups by the end of 2022 came in slightly ahead of Wall Street estimates, which had averaged 4.2 million. For the fourth quarter, Netflix is projecting revenue of $7.8 billion -- a sequential decline it blamed on the strong value of the U.S. dollar.

☆ Freight Operators’ Peak Shipping Season Is Crumbling
▼ + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com time to read: +7 min

The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas. Citi analysts say they expect a “weaker peak season and a large amount of uncertainty in terms of the magnitude of demand.”—Esther Fung and Liz Young contributed to this article.

☆ Freight Operators’ Peak Shipping Season is Crumbling
▼ + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com time to read: +6 min

The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. But a range of measures of shipping demand across the U.S. are sliding, freight rates are falling as a result, leading carriers to pull back capacity amid concerns a deeper downturn is coming. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas.

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