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Trump picks Liberty Energy CEO as Energy secretary
  + stars: | 2024-11-18 | 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 EmailTrump picks Liberty Energy CEO as Energy secretaryCNBC's Pippa Stevens reports on the latest president-elect Trump pick for his incoming administration.
Persons: Pippa Stevens, Trump Organizations: Trump, Liberty Energy
AdvertisementTrump picked Elon Musk and Vivek Ramaswamy to co-lead DOGE, a new government efficiency commission. Their aim is to cut government spending, and one idea they've floated is to ax federal agencies. Almost half a million people were employed in the Department of Veterans Affairs, while the Department of Education had just over 4,000. Most departments had six-figure average salaries, with the Department of Education and the Department of Energy having the highest averages. AdvertisementWhile DOGE can advise Trump on agencies to cut, the president-elect cannot act on it alone — making major changes to federal agencies would require congressional approval.
Persons: Elon Musk, Vivek Ramaswamy, they've, Elon, Ramaswamy, Karoline Leavitt, Vance, Trump, Musk, Ronald Reagan Organizations: Trump, GOP, Government, Fox News, Management, Department of Veterans Affairs, of Education, Treasury Department, Internal Revenue Service, Department of Education, Department of Energy, Washington DC, Grace Commission, Social Security, Medicare, Social, asheffey Locations: Elon Musk's, Washington, Grace
Source: NYSEThis 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. Last Monday, the S&P closed above 6,000 and the Dow finished the day above 44,000 for the first time. When markets closed on Friday, the S&P lost 2.1% and the Dow had fallen 1.2% for the week — both ending the week below their milestones. Those were the worries weighing on markets last week, which brought the S&P back to its level in mid-October, noted CNBC's Michael Santoli.
Persons: Dow, Trump, Robert F, Kennedy Jr, Trump's, Michael Santoli, Kristy Akullian, Akullian, , Brian Evans, Alex Harring Organizations: HK, New York Stock Exchange, CNBC, Dow, Trump, Nasdaq, U.S . Department of Health, Human Services, BlackRock Locations: satiation, surfeit, Americas, BlackRock
Trump has said he wants to lower gas prices — which currently average $3.07 per gallon — to below $2 a gallon. But the American oil industry is already booming and increasing output doesn’t mean gas prices will drop. After oil prices shot up in 2022 in the wake of Russia’s invasion of Ukraine and the sanctions on Russian oil imposed by western countries, major oil companies reported record profits. But are we going to increase oil production by another 50%? OPEC+, a group of leading oil-producing countries, even delayed plans to increase production because of concerns about excess supply.
Persons: Donald Trump, ” Trump, Trump, Chris Wright, Wright, Andy Cross, Andy Lipow, ” Lipow, “ It’s, Biden, , Bob McNally, George W, Bush, CNN’s David Goldman, Matt Egan Organizations: CNN, Liberty Energy, Liberty, Denver Post, US Energy Information Administration, P, Insights, Eurasia Group, Texas Intermediate, OPEC, Lipow Oil Associates, Energy, Oil Locations: Denver, States, Saudi Arabia, Russia, Eurasia, Ukraine, China, OPEC
Sydney, Australia Reuters —Australian police on Monday charged former radio show host Alan Jones with 24 assault and sexual touching offenses, indictments that followed accusations in a newspaper that Jones had assaulted young men for decades. Police allege the offenses took place between 2001 and 2019 against 8 victims, some of whom Jones knew professionally or personally. He denied the assault allegations made against him last year by the Sydney Morning Herald newspaper. A well-known conservative “shock jock,” listeners knew Jones for his sharp questions and equally sharp tongue. After leaving 2GB, he worked at a digital start-up, but had been off the air since the Sydney Morning Herald allegations were made.
Persons: Alan Jones, Jones, Michael Fitzgerald, Scott Morrison, Jacinda Organizations: Australia Reuters — Australian, Police, New South Wales police, Reuters, Sydney Morning Herald, . Police, New Zealand Locations: Sydney, Australia, New South Wales, New
Oil prices edge higher after Russia-Ukraine tensions escalate
  + stars: | 2024-11-18 | by ( ) www.cnbc.com   time to read: +2 min
Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets. Russia unleashed its largest air strike on Ukraine in almost three months on Sunday, causing severe damage to Ukraine's power system. Investors also fretted over the pace and extent of interest rate cuts by the U.S. Federal Reserve that has created uncertainty in global financial markets. In the U.S., the number of operating oil rigs fell by one to 478 last week, the lowest since the week to July 19, Baker Hughes data showed.
Persons: Joe Biden's, Biden, Tony Sycamore, Brent, WTI, Baker Hughes Organizations: Brent, U.S, West Texas, IG, International Energy Agency, U.S . Federal Reserve Locations: Cushing , Oklahoma, Russia, Ukraine, China, Kursk, U.S
AdvertisementPruna AI has secured $6.5 million from EQT Ventures to compress AI models. Paris and Munich-based software startup Pruna AI has secured $6.5 million from EQT Ventures. The startup has developed an optimization tool for compressing AI models so that they require less compute and energy. The startup's customers are midsize to large companies with their own AI models that can rake in huge compute bills. As a result, Charpentier found that there was appetite from investors looking to make AI cheaper and more sustainable.
Persons: Bertrand Charpentier, Charpentier, Carl Svantesson, Roxanne Varza, Hervé Nivon, Olivier Pomel Organizations: EQT Ventures, BI, Paris Locations: Munich, Paris, Daphni
Shares of Liberty Energy rose on Monday after President-elect Donald Trump picked CEO Chris Wright as energy secretary. Liberty Energy is an oilfield services company headquartered in Denver, Colorado with a market capitalization of $2.7 billion. Wright also serves as board member at Oklo , a nuclear startup backed by OpenAI CEO Sam Altman that is developing micro reactors. Wright will also serve as a board member of the president-elect's Council on National Energy. The CEO has denied that climate change is a global crisis that requires a transition away from fossil fuels.
Persons: Donald Trump, Chris Wright, Wright, Sam Altman Organizations: Liberty Energy, elect's, National Energy Locations: Denver , Colorado, Oklo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. shale production has 'entered its twilight,' says portfolio managerEric Nuttall, partner and senior portfolio manager at Ninepoint Partners, says "the 'drill, baby, drill' mantra has no teeth." He adds that having oil fracking boss Chris Wright as energy secretary will bring "a lot of pragmatism and realism" to the conversation around the energy transition.
Persons: Eric Nuttall, Chris Wright Organizations: Ninepoint Partners
Trump Media & Technology Group — Shares in President-elect Donald Trump's media company pulled back roughly 5%. Although the stock has been increasingly volatile in the wake of Trump's election, it has gained more than 52% in 2024. Redfin — The online real estate company's stock slipped 3.4% following a downgrade at Goldman Sachs to sell from neutral. CVS Health — Shares of the drugstore operator jumped nearly 6% following a decision to add four new board members in a deal with Glenview Capital. Moderna — Shares of the biotech company jumped more than 5% after HSBC upgraded the stock to buy from hold and said it views the stock as being undervalued.
Persons: Donald Trump's, Donald Trump, Chris Wright, Wright, Baird, Goldman Sachs, Wells, Needham, Piper Sandler, , Alex Harring, Sean Conlon, Hakyung Kim, Pia Singh, Michelle Fox Organizations: Spirit Airlines —, Trump Media & Technology, Liberty Energy, Goldman, CVS, Glenview Capital, Aetna, U.S . Securities, Exchange, Nasdaq, Moderna —, HSBC, Warner Bros, , National Basketball Association Locations: Wells Fargo
Croft: Enforcing sanctions will drop Iranian oil exports
  + stars: | 2024-11-18 | 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 EmailCroft: Enforcing sanctions will drop Iranian oil exportsHelima Croft discusses the potential impact of Chris Wright as Secretary of Energy, expecting less regulation and a rollback of Biden's LNG pause. She highlights the role of shareholder demands in drilling decisions and suggests that stricter U.S. sanctions on Iran could reduce oil exports.
Persons: Helima Croft, Chris Wright Organizations: Energy Locations: Iran
AdvertisementThe series premiere of "Dune: Prophecy," which aired Sunday, ended with a shocking twist. Warning: Major spoilers ahead for "Dune: Prophecy" season 1, episode 1. A pair of shocking deaths close out the first episode of "Dune: Prophecy," the new HBO series that serves as a prequel to Denis Villeneuve's "Dune" movies. Charithra Chandran, Yerin Ha, Jessica Barden, and Emma Canning in "Dune: Prophecy." "Dune: Prophecy" airs Sundays at 9 p.m.
Persons: Denis Villeneuve's, Paul Atreides, Kyle MacLachlan, David Lynch's, Valya Harkonnen, Emily Watson, Jessica Barden, Charithra Chandran, Yerin Ha, Emma Canning, Attila Szvacsek, Mother Kasha, Jihae, Emperor Javicco Corrino, Mark Strong, Kasha, Princess Ynez, Wallach IX, Valya, Valya's dismisiveness, Mother Raquella Berto, Anirul, , Frank Herbert, Paul Stamets, Frank, I've, Alison, Schapker, We've Organizations: HBO, Imperium, South, Max Locations: South Korean, Tula, Budapest
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMayfield: It is a bit bipartisan to be a bit more defensive toward ChinaRoss Mayfield, Investment Strategy Analyst at Baird, discusses post-election market trends. He notes that while initial market sentiment is strong, a period of consolidation is expected. Financials and industrials benefit from deregulation and defense spending, while energy and materials depend on commodity prices.
Persons: Ross Mayfield, Baird Organizations: Investment
Spirit Airlines — Shares of the struggling airline were halted on Monday after the company filed for bankruptcy protection . The stock rose 2.8% when trading resumed. Liberty Energy , Oklo — Shares of Liberty Energy rose 5% after Trump picked CEO Chris Wright as energy secretary . Robinhood — The electronic trading platform stock gained 1% after Needham upgraded shares to buy from hold. CVS Health — Shares of the drugstore company rose 2% following a Wells Fargo upgrade to overweight from equal weight.
Persons: Tesla, Donald Trump's, Chris Wright, Wright, Baird, Barron's, Needham, Robinhood, Robert F, Kennedy Jr, , Sarah Min, Alex Harring, Jesse Pound, Spencer Kimball, Lisa Kailai Han Organizations: Bloomberg News, U.S . Transportation Department . Spirit Airlines, Liberty Energy, Oklo, of Liberty Energy, Trump, Nvidia, Blackwell, Nasdaq, Trump's Securities, Exchange Commission, CVS, Aetna, Warner Bros, National Basketball Association, Wall Street Journal, U.S, NBA, HSBC, Moderna Locations: Wells
AdvertisementLast week, Trump was said to be deciding between two leading candidates for Treasury Secretary. Here are the top picks Trump is reportedly now considering for Secretary of the Treasury. Kevin WarshKevin Warsh, center, is rising as one of the candidates for Trump's Treasury Secretary. AdvertisementMarc RowanMarc Rowan isn't said to be actively lobbying for Treasury Secretary, but his aides have reportedly been in touch with the Trump administration. Drew Angerer/Getty ImagesBessent, 62, was one of the original frontrunners for Trump's Treasury Secretary.
Persons: Trump, Kevin Warsh, Marc Rowan, Donald Trump, Robert F, Kennedy Jr, Florida Sen, Marco Rubio, Janet Yellen, he's, it's, Kevin Warsh Kevin Warsh, Tasos Katopodis, Warsh, Morgan Stanley, George W . Bush, Axios, Jerome Powell, Marc Rowan Marc Rowan isn't, PETER, Getty Images Rowan, Rowan, Rowan isn't, Howard Lutnick Howard Lutnick, ANGELA WEISS, Cantor Fitzgerald, Lutnick, Linda McMahon, He's, Vance, Elon Musk, Musk, Scott Bessent Scott Bessent, Drew Angerer, Bessent, George Soros, Soros, Breitbart, Kamala Harris, Joe Biden's, MAGA Organizations: Treasury, White, Department of Health, Human Services, State Department, Trump, Street, New York Times, Trump's, Federal Reserve Board, Getty Images, Apollo Global Management, Apollo, Times, Bloomberg, Madison, Garden, AFP Lutnick, WWE, Hamptons, Apple, World Trade, Key, Capital Management, Reuters Locations: Florida, America, Lago
Thomas Plantenga, CEO of used fashion resale app Vinted, on center stage during Web Summit 2024 in Lisbon, Portugal. The Republican politician's victory was a key topic on various prominent tech bosses' lips at the Web Summit conference in Lisbon, Portugal. "It's time for Europe to step up," Yen told CNBC on the sidelines of Web Summit. US Big Tech 'playing extremely unfairly'However, Proton's Yen urged the EU not to water down its push to rein in America's tech giants. 'AI sovereignty' now a key battlegroundAnother theme that attracted much chatter on the ground at Web Summit was the idea of ​​"AI sovereignty."
Persons: Thomas Plantenga, Harry Murphy, Donald Trump's, Andy Yen, Yen, Trump, Proton's Yen, Mitchell Baker, Baker, it's, Plantenga, we'll, OpenAI, Christian Kroll, Shelley McKinley, GitHub, McKinley Organizations: Web, Getty Images, Portugal — Tech, Big, Republican, Proton, CNBC, European Union, Apple, Microsoft, Meta, Markets, US Big Tech, Mozilla Foundation, Google, Trump Locations: Lisbon, Portugal, Getty Images LISBON, Europe, America, EU, Lithuania
AdvertisementRolls-Royce is in talks with potential customers for its nuclear reactors, per the Financial Times. The company said the reactors could provide energy for data centers, mining, and space missions. Rolls-Royce is in early-stage talks with potential customers for its compact nuclear reactors, which are designed to power data centers on Earth and one day to be sent into space, the Financial Times reported. Big Tech companies — including Google, Amazon, and Microsoft — have expressed interest in nuclear power to meet AI's high energy demands. In July 2024, Rolls-Royce was awarded funding from the agency's National Space Innovation Programme, or NSIP, for space nuclear power.
Persons: Royce, Jake Thompson, Microsoft —, Thompson Organizations: Financial Times, Business, Big Tech, Google, Microsoft, Royce, UK Space Agency, Innovation
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailClimate targets won't be abandoned under a Trump presidency: Crystol Energy founderCrystol Energy founder Carole Nakhle tells CNBC there will not be a "complete reversal" or "ditching" of climate targets when President-elect Donald Trump heads to the White House for a second term.
Persons: Carole Nakhle, Donald Trump Organizations: Trump, Crystol Energy, CNBC, White
When Joice Barnard had a hip replacement just over a year ago, she couldn't imagine running again without pain, but she was determined to try. Barnard, 67, has been running for 50 years, longer than some of her fellow marathoners have been alive. Earlier this month, Barnard finished her ninth marathon, the Every Woman's Marathon organized by Team Milk in her hometown of Savannah, Georgia. "For anybody, whether they're somebody with a hip replacement or they're 20 years old and they're very, very fast, it's so easy to run too many miles a week," Barnard said. Get enough restEvery week, Barnard takes a full day off from any exercise more strenuous than walking to give her body a break.
Persons: who's, Joice Barnard, Barnard, Team Milk, she's Organizations: Team, Business Locations: Savannah , Georgia
China is installing wind and solar power projects faster than any other country on the planet. It’s not that China is using less energy — it’s using more than ever — but it’s just adding wind and solar power to its grid at an astonishing pace. The country is constructing two-thirds — nearly 339 gigawatts — of the world’s utility-scale solar and wind projects. That is in addition to the 758 gigawatts of wind and solar capacity it has already built, according to the Global Energy Monitor. Wind and solar are now capable of generating 37% of the country’s power, according to Global Energy Monitor, already displacing coal’s dominance.
Persons: Donald Trump, It’s, , , Jonathan Pershing, William, Flora Hewlett, John Podesta, ” Podesta, Xi Jinping, hasn’t, Xia Yingxian, ” Li Shuo, Shuo, ” Shuo Organizations: CNN, Department, Global Energy Monitor, International Energy Agency, White, US, State Department, China’s Ministry of Foreign Affairs, Climate, Asia Society Policy Institute Locations: Mongolia, China, Europe, Africa, Podesta, Paris, China’s
AdvertisementMarija Riba and her husband quit their jobs and moved from London to Finland. I spoke with friends who've taken a career break to recover from burnout, and they all told me they were able to relax, recover, and successfully reenter the workforce. AdvertisementIn July, my husband and I quit our jobs and moved from London to Finland. In October, my husband and I moved into our own flat, for which my parents paid the deposit and the first month's rent. We don't know how long we'll stay, but Finland is the perfect setting to focus on my health.
Persons: Marija, It's, who've, I'd, I've, we've, I'm, haven't, He's, you've, Tess Martinelli Organizations: Marija Riba, Riba Locations: London, Finland, web3, acclimatize, tmartinelli
Meet the Press – November 17, 2024
  + stars: | 2024-11-17 | by ( ) www.nbcnews.com   time to read: +58 min
And by the way, I do believe that President Trump has the ability to pick some really, really good people. We've seen what they've done to President Trump, we've seen the attacks that they continue to go after him with. That's - that’s being taken completely out of context. And President Trump hasn't been the one that weaponized the DOJ to go after his political enemies. I think that's a pretty controversial pick, from whatever pronoun that he or he - he or she decides to use.
Persons: KRISTEN WELKER, Donald Trump’s, SEN, LISA MURKOWSKI, SUSAN COLLINS, KEVIN CRAMER, JOHN BOLTON, Trump’s, Trump, MIKE JOHNSON, JOHN, CHUCK SCHUMER, DONALD TRUMP, Hakeem Jeffries, Markwayne Mullin, Amna Nawaz, Eugene Daniels, Jen Psaki, Lanhee Chen, it’s, Kristen Welker, Donald Trump, Matt Gaetz, Gaetz, who's, we're, Mike Johnson, Johnson, MATT GAETZ, Robert F, Kennedy Jr, Kennedy, he's, ROBERT F KENNEDY JR, I'm, I've, LEX FRIDMAN, Trump's, Pete Hegseth, Hegseth, ” Hegseth, SHAWN RYAN, PETE HEGSETH, Mullin, Press . SEN, MARKWAYNE MULLIN, Kristen, you've, Kristi Noem, Matt Gaetz's, they're, Matt, Here's, We've, we've, Biden, Hunter Biden, didn't, Trump hasn't, Garland, Pete, Bobby Kennedy, Bobby, Rachel, Sam, There's, Pete Buttigieg, Let's, Kristen –, there's, let's, Chuck Schumer, Obama, Canning, we'll, He's, Jeffries, HAKEEM JEFFRIES, Roe, Wade, Pelosi's, Pelosi, It's, Nancy Pelosi, Jim Clyburn, Steny Hoyer, That's, should've, Kamala Harris, it's, Matt Gaetz –, Tulsi Gabbard, Debbie Wasserman Schultz, DEBBIE WASSERMAN SCHULTZ, Assad, She's, Dick Durbin, Donald Trump's, Politico “ Playbook, AMNA NAWAZ, Jim Mattis, Rex Tillerson, John Kelly, Eugene, EUGENE DANIELS, , Susan Collins, hasn't, LANHEE CHEN, aren't, Doug Burgum, Marco Rubio, Elise Stefanik, Jen, JEN PSAKI, – AMNA NAWAZ, that's, Thune, Biden's, George W, Bush, Joe Biden, JOE BIDEN, – I’ve, , – JEN PSAKI, Elizabeth Warren, Bernie Sanders, We're, We'll Organizations: GOP, Democratic, Oklahoma, PBS, White House Press, Hoover Institution, Press, NBC, Department of Justice, Mar, FBI, CDC, ATF, DOJ, NBC News, Republicans, of Health, Human Services, Defense, Fox News, Police, Republican, Pentagon, Press ., Trump, Senate, Biden, White, Justice Department, America, Senate Armed Services Committee, The Washington, HHS, of Energy, Department of Transportation, RFK Jr, , House Democratic, Democracy, REP, House Democrats, Social, Medicare, Democrats, Committee, of, Politico, Stanford University, Trump’s, Gaetz, Department of Defense, Office, Mr, Republican Party, Democratic Party Locations: Washington, America, Florida, Monterey , California, States, Oklahoma, Russia, United States, Afghanistan, Iraq, New York, American, Syria, Russian, Will, California, , Trump
KYIV — Blasts rang out across Ukraine’s capital Kyiv and other cities early on Sunday, as Russia staged its biggest missile attack since August and targeted power facilities with the winter setting in, officials said. “Another massive attack on the power system is under way. The enemy is attacking electricity generation and transmission facilities throughout Ukraine,” Ukrainian Energy Minister German Galushchenko wrote on Facebook. Officials often withhold information on the state of the power system because of the war. In Kyiv, the roof of a residential building caught fire due to falling debris and at least two people were hurt, city officials said on the Telegram messaging app.
Persons: German Galushchenko, extinguishes, , Andrii Sybiha, Vladimir Putin, Olaf Scholz, Poland “, Vitali Klitschko Organizations: Ukrainian Energy, German, Facebook, Ukrainian Emergency, AFP, HANDOUT, Getty, Authorities, NATO Locations: Kyiv, Russia, Ukraine, Mykolaiv, Handout, AFP, Dnipropetrovsk, Volyn, Zaporizhzhia, Odesa, Kryvyi, Rivne, Poland
Kyiv loudly decries the refusal, and just when the request seems to have been parked, the Biden administration approves it. Is it too late for the US-made Army Tactical Missile Systems, or ATACMS, to make a difference if it hits targets deep inside Russia? The answer is complex and perhaps explains some of the reluctance of the Biden administration to grant permission. Secondly, Ukraine has been able to penetrate deeper inside Russia using domestically manufactured and cheaper drones. Thirdly, the permission to use US precision missiles to hit deeper inside Russia is, as it sounds, quite provocative.
Persons: Joe Biden, Biden, HIMARS, Abrams, Russia –, Donald Trump Organizations: CNN, Army Tactical Missile Systems, Analysts, Institute for, United, NATO, America Locations: Ukraine, Russia, Kyiv, ATACMS, United States, Moscow, Europe, Kursk
AdvertisementDemocrats hope blue states can be the party's redoubt against Trump's second term. Democrats are also lining up lawyers to stymie Trump's agenda and planning for 2028. And as Trump's first term progressed, Democrats remained laser-focused on opposing him. The newspaper reported that advocacy groups are rallying hundreds of attorneys to fight Trump's agenda from the start of the president-elect's second term. Pritzker pledged to work with the Trump administration but also called himself a "warrior" for his state.
Persons: stymie, Kamala Harris, Joe Biden, Donald Trump, Trump's, Skye Perryman, Harris, Trump, Gavin Newsom, JB Pritzker, Gretchen Whitmer, Newsom, Pritzker, Illinoisans, Whitmer Organizations: White, Democratic Party, Democratic, The New York Times, Trump, US Supreme, Times, Democracy, Illinois, Michigan Locations: Washington, California, Michigan, Illinois, Sacramento
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