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☆ Ken Moelis: Middle East is one of the top IPO markets in the world right now
▼ + stars: | 2024-10-29 | 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 EmailKen Moelis: Middle East is one of the top IPO markets in the world right nowKen Moelis, Moelis & Co. founder, chairman and CEO, joins 'Money Movers' to discuss the excitement around investing in Saudi Arabia, Moelis' role in investing in Saudi Arabia, if geopolitical risks are hurting the prospects of investment in Saudi Arabia.

Persons: Ken Moelis, Moelis Locations: Saudi Arabia

☆ Steve Schwarzman says Trump would be an 'efficient and effective' president this time — and Ken Griffin thinks he'll win
▼ + stars: | 2024-10-29 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Blackstone CEO Steve Schwarzman said he thinks Trump would make a better president the second time around. He's uncertain about the election result, though Citadel's Ken Griffin said he expects Trump to win. AdvertisementSteve Schwarzman said he thinks Donald Trump would be more "efficient and effective" if he wins next week's election. Citadel founder and CEO Ken Griffin, who was also on the panel, was more assured of the election's outcome. Citadel founder Ken Griffin expects Donald Trump to win the 2024 election.

Persons: Steve Schwarzman, Trump, Ken Griffin, —, Donald Trump, Schwarzman, Mike Blake, Griffin, Alan Murray Organizations: Saudi Arabia's Future Investment, Service, Blackstone, Future Investment Initiative, Saudi, Republican, Bloomberg, Citadel, White Locations: Davos

☆ Larry Fink says the Fed won't cut interest rates as much as markets expect this year
▼ + stars: | 2024-10-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

The U.S. Federal Reserve won't cut interest rates as much as markets expect because "embedded inflation" is too high, Blackrock CEO Larry Fink said Tuesday, speaking at a CEO-studded panel in Riyadh, Saudi Arabia. The Biden administration's legislation, such as the Inflation Reduction Act and the Infrastructure Investment and Jobs Act, have pushed those efforts forward. "Today, I think we have governmental policies that are embedded inflationary, and, with that being said, we're not gonna see interest rates as low as people are forecasting," Fink said. The Fed cut its benchmark rate by 50 basis points in September, signaling a turning point in its management of the U.S. economy and in its outlook for inflation. In late-September reports, strategists at J.P. Morgan and Fitch Ratings predicted two additional interest rate cuts by the end of 2024, and expect such reductions to continue into 2025.

Persons: Andrew Ross Sorkin, Larry Fink, Saudi Arabia . Fink, " Fink, onshoring, we're, Fink, Morgan, Goldman Sachs, Carlyle, Morgan Stanley Organizations: BlackRock, New York Times DealBook, Jazz, Lincoln Center, U.S . Federal, Blackrock, Saudi, Future Investment Initiative, Biden, Infrastructure Investment, Jobs, Fed, Fitch, U.S . Bureau of Labor Statistics, Standard Chartered Locations: New York City, Riyadh, Saudi Arabia, China, U.S

☆ Goldman Institute calls for ‘data center diplomacy’ as U.S. competes in global AI race
▼ + stars: | 2024-10-29 | by ( Kate Rooney | ) www.cnbc.com time to read: +3 min

"Data may be the new oil, and it's ultimately nations, not nature, that's going to determine the future of AI infrastructure built." AI relies on massive amounts of data for training and gigantic data centers. Despite a slowing economy, Beijing has been investing in AI data centers, and launched a $6.1 billion national initiative called "Eastern Data, Western Computing." The U.S. has its own slate of initiatives, including a task force on AI infrastructure. "The Arab Gulf countries of the Middle East present many promising opportunities for AI data centers," Cohen wrote.

Persons: Goldman Sachs, Jared Cohen, Goldman, Cohen, it's, They've, Anthropic Organizations: Goldman Sachs Global Institute, CNBC, Google, Microsoft, Meta, Computing, United, United Arab Locations: China, Beijing, U.S, Canada, Australia, France, Gulf, OpenAI, United Arab Emirates, Qatar, Saudi Arabia

☆ Watch CNBC's full interview with Moelis & Co. founder and CEO Ken Moelis
▼ + stars: | 2024-10-29 | 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 EmailWatch CNBC's full interview with Moelis & Co. founder and CEO Ken MoelisKen Moelis, Moelis & Co. founder, chairman and CEO, joins 'Money Movers' to discuss the excitement around investing in Saudi Arabia, Moelis' role in investing in Saudi Arabia, if geopolitical risks are hurting the prospects of investment in Saudi Arabia.

Persons: Ken Moelis Ken Moelis, Moelis Organizations: Moelis Locations: Saudi Arabia

Washington had pressed its ally in the hopes of ending the cycle of attacks and avoiding escalation into a wider war. Blinken said the U.S. is tracking the aid deliveries very carefully and “absolutely essential” that Israel comply. "Israel has achieved most of its strategic objectives when it comes to Gaza,” Blinken said in Tel Aviv. (It also signed off on $9.5 billion in humanitarian aid for Gaza, as well as the conflict zones of Ukraine and Sudan.) But far-fetched as it might seem, it came up during Blinken’s meeting with the Saudi crown prince during this trip.

Persons: Antony Blinken, Benjamin Netanyahu, it’d, Yahya Sinwar, Isaac Herzog, Nathan Howard, Amos Hochstein, Donald Trump, Netanyahu —, Netanyahu, Blinken, Israel, ” Blinken, “ It’s, Ibrahim Fakhroo, Sinwar, William Burns, Khalil al, “, Saudi Crown Prince Mohammed bin Salman, Joe Biden, Ayman Safadi, we’ve, ” It’s Organizations: State Department, Getty, Israel, Hamas, Trump, Qatar's Ministry of Foreign, CIA, Qatari, Senior, Palestinian Authority, Saudi Crown, U.S, U.S . Locations: United States, Israel, Iran, Washington, Gaza, Egypt, Lebanon, Blinken, Tel Aviv, AFP, U.S, Beirut, Saudi Arabia, Doha, Qatar, Riyadh, Ukraine, Sudan, Saudi, Palestinian, Jordanian, London

☆ Foreign investors flock to flagship Saudi economic conference — but face less free-flowing cash
▼ + stars: | 2024-10-28 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia's capital Riyadh to attend the Future Investment Initiative (FII) forum. The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to 2.87 trillion Saudi riyals ($765.2 billion) in 2023 — and local investment was a major driver. "Value meaning hiring, developing the asset management ecosystem, creating new products, bringing in talent, and investing in Saudi capital markets also. Oil prices and the Saudi economy appear to so far have stayed largely unscathed, dropping 4% early Monday after Israel's weekend strike on Iran. A key reason for that may be the rapprochement deal the kingdom signed with Iran, brokered by China, in March 2023.watch now

Persons: Nureldine, it's, Omar Yacoub, Yacoub, Fadi Arbid, Brent, Arbid, Yemen's, Israel Organizations: King Abdulaziz Conference Centre, Future Investment Initiative, Afp, Getty, Investment Initiative, CNBC, U.S, ABS Global, Public Investment Fund, Saudi, Saudi Arabia's, Amwal Capital Partners, OPEC, Eastern, Ritz, Carlton, Israel Locations: Saudi Arabia's, Riyadh, Saudi, Saudi Arabia, —, Dubai, Carlton Riyadh, Gaza, Israel, Lebanon, Iran, Tel Aviv, China

☆ ‘You lost this vote’: Arab Americans in Dearborn struggle in an election where they don’t feel heard
▼ + stars: | 2024-10-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mirna-Alsharif-Byline-Jm.Jpg | Mirna Alsharif | ) www.nbcnews.com time to read: +5 min

Farhat said the Democratic Party “has missed several key opportunities” to reassure Arab American voters concerned about Gaza. Interior Department under the Biden administration, at ArabCon in Dearborn, Mich., on Sept. 13. Palestinian American organizer Linda Sarsour at ArabCon in Dearborn, Mich., on Sept. 13. The Iraq War, now widely criticized, left 200,000 civilians dead, haunting the many refugees who sought safety in Dearborn. Imam Sayed Saleh Qazwini of MECCA at ArabCon in Dearborn, Mich., on Sept. 13.

Persons: Farhat, Democratic Party “, Hersh Goldberg, ” Farhat, “, ” Maryam Hassanein, Maryam Hassanein, Biden, Mustafa Hussain, isn’t, ” Hassanein, Linda Sarsour, ” Sarsour, it’s, Yemeni American Mona Mawari, ”, Mawari, ” Sayed Saleh Qazwini, Imam Sayed Saleh Qazwini, ” Qazwini, Zahraa Bahsoon, Harris, Trump, ” Bahsoon Organizations: Democratic Party, Arab, Democratic National Convention, Biden administration’s Department of, Democratic, U.S . Interior Department, NBC, NBC News, Muslim Educational Community Center of America, NBC News “ Locations: Gaza, Israel, American, Israeli American, U.S, ArabCon, Dearborn, Mich, Brooklyn , New York, Palestinian American, Saudi, Yemen, Iraq, Dearborn . Syria, Libya, Yemeni American, MECCA, Canton, Iraqi American

☆ Iran says it has a ‘right to self-defense’ after Israel attack, as U.S. urges end to missile exchanges
▼ + stars: | 2024-10-26 | by ( Freddie Clayton | Freddie Clayton Is A Freelance Journalist Based In London. | ) www.nbcnews.com time to read: +6 min

Iran responded to that attack with a drone and missile barrage on Israel that was at the time unprecedented. Israel retaliated with a limited strike on Iran which caused little damage. U.S. defense officials told NBC News that Israel had told their American counterparts about Saturday's strikes ahead of time, but that the U.S. was not involved in the attack. "The fact that Iran is downplaying the attack and what's been hit is good news," he told NBC News on the phone. "Whether Israel and Iran will think like this is a different matter," he added.

Persons: Biden, “ it’s, Masoud Pezeshkian, Abbas Araghchi, Pezeshkian, Israel, ” Jordan, “, Ismail Haniyeh, Hassan Nasrallah, Michael Milshtein, Yossi Mekelberg, what's Organizations: Israel Defense Forces, U.S, NBC News, IDF, Islamic Revolutionary Guard Corps, American, Palestinian Studies, Tel Aviv University Dayan Center, Chatham House’s, North Africa Program Locations: Iran, Israel, America, Tehran, Khuzestan, Ilam, East, Qatar, Saudi Arabia, ”, Iraq, Beirut, Gaza, Lebanon, Damascus, Yemen, Syria, U.S

☆ Saudi Arabia will reportedly give a select group of visitors a first glimpse of Neom, showing them Sindalah — a luxury island retreat in the Red Sea
▼ + stars: | 2024-10-25 | by ( Nora Redmond | ) www.businessinsider.com time to read: +3 min

Some guests at Saudi Arabia's annual investment conference will have the chance to visit part of Neom. A group of visitors will be taken to Sindalah, an island retreat in the Red Sea, Bloomberg reports. AdvertisementAs guests descend upon Saudi Arabia for a major annual investment conference, some will have the opportunity to see the country's futuristic megacity, Neom, firsthand. Days before the conference begins, a select group of guests has been invited to visit Sindalah Island, per Bloomberg. Sindalah is a luxury island complex in the Red Sea off Saudi Arabia's west coast designed as a "unique escape" for visitors to Neom.

Persons: Neom, —, BlackRock's Larry Fink, Goldman Sachs, David Solomon, Citigroup's Jane Fraser, Julia Hoggett, Ken Griffin, Sindalah, Prince Mohammed bin Salman, Malcolm Aw Organizations: Saudi, Bloomberg, Service, Investment Initiative, London Stock, Solar, Business Locations: Neom, Red, Saudi, Saudi Arabia, Riyadh, Sindalah

☆ Andy Carroll interview: ‘There’s always been this fascination with me… You go into dark places’
▼ + stars: | 2024-10-25 | by ( Chris Waugh | ) www.nytimes.com time to read: +23 min

It’s still playing football, just in a different country and a different league, but it’s still basically the same. “I am free, relaxed and I’m playing football. “I began to feel the media glare more when I left Newcastle,” Carroll says. But the happiest part of my life is when I go out and play football. I just want to keep playing because that’s really all I’ve ever known.”(Top photos: Getty Images; design: The Athletic)

Persons: Andy Carroll’s, ”, Carroll, “, ” Carroll, you’d, “ I’d, I’ve, messaged Carroll, Chris Waugh, It’s, it’s, ‘, ’, I’d, ” John Williams, Williams, Bruno Irles, ‘ That’s, ” Carroll —, —, “ I’m, we’ve, Billi, You’ve, you’re, Rod Stewart’s, there’s, “ It’s, “ Weirdly, Chris Hughton, Chris, Mike Ashley, Alan Shearer, Andy, he’ll, …, Andy Carroll, Andrew Powell, ” Carroll “, I’m, ‘ He’s, “ You’ve, “ Mike Ashley, Steve Bruce, Bordeaux, Lucas, LeBron James ”, “ I’ve, that’s Organizations: Athletic, Gateshead, British, Newcastle United, Newcastle, Reading, Europa League, Ligue, B, Championnat, Girondins de Bordeaux, Amiens, Premier League, Stade de Bordeaux, ’, England, Liverpool, Liverpool FC, Getty, The Athletic, Chateaubriant Locations: France, Bordeaux, England, France’s, Carroll, Amiens, Saumur, Saudi, Paris, Cannes, West Ham, Gateshead, Newcastle, Liverpool

Israel is also heavily backed by the United States, which has supplied more than 29,000 guided bombs, artillery rockets and assorted missiles since 2009. A spiraling conflict between Iran and Israel, one of the United States’ closest allies, could pull U.S. forces positioned throughout the region into the fray. Israel has told the United States that it will not attack Iran’s nuclear or oil facilities in its expected attack. Though highly unlikely, an Israeli strike on Iran’s oil facilities could prompt Iran or its proxies to target refineries in Saudi Arabia or the U.A.E. This April, Iran’s attack involving more than 300 drones and missiles, in retaliation for Israel’s killing of seven Iranian officials in Syria, shattered that supposition.

Persons: Arash Khamooshi, Abbas Araghchi, Biden, emboldening Israel, Chang W, Lee, Yahya Sinwar, Israel Organizations: Iranian Revolutionary Guard, The New York Times, International Institute for Strategic Studies, United, Senior Pentagon, The Defense Department, Area Defense, Defense, New York Times, United Arab, United Nations Locations: Israel, Gaza, Yemen, Lebanon, Iran, United States, Tehran, U.S, Gulf States, Guam, Qatar, United Arab Emirates, Bahrain, Kuwait, Saudi Arabia, Hormuz, Persian, Palestine Square, Gaza . Credit, Syria

☆ Russia says it has no intention of abandoning Iran as it faces Israel's wrath
▼ + stars: | 2024-10-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Alexander Shcherbak | Afp | Getty ImagesThe Kremlin said it has no intention of abandoning Iran as it faces a widely-expected direct attack from Israel. He did not directly answer whether Iran had asked Russia for support against Israel. Peskov told CNBC that Russia "maintains a dialogue with all parties involved in the conflict in the Middle East." Russia and Iran's 'strategic' dealTo see just how Russia could look to support Iran, all eyes are now on the BRICS summit that's taking place in Kazan, southwestern Russia. Russian President Vladimir Putin (R) shakes hands with Iranian President Masoud Pezeshkian (L) during their meeting, October 11, 2024, in Ashgabat, Turkmenistan.

Persons: Vladimir Putin, Masoud Pezeshkian, Magtymguly, Alexander Shcherbak, Dmitry Peskov, Sergei Ilnitsky, Peskov, Ali Akbar Ahmadian, Vyacheslav Prokofyev, Israel, Benjamin Netanyahu's, Ozcelik Organizations: Sputnik, Afp, Getty, Ukraine, CNBC, Kremlin, Google, Israel, Commonwealth of Independent States, CIS, Reuters, United, United Arab Emirates, Iran's, National Security Council, Middle, International Security, Royal United Services Institute, U.S, Global, UN Security Council Locations: Russian, Ashgabat, Iran, Israel, Gaza, Lebanon, Republic, Russia, Tehran, Moscow, Reuters Russia, Saudi Arabia, Syria, United Arab, Ukraine, Saint Petersburg, Kazan, Brazil, India, China, South Africa, what's, Turkmenistan

☆ Nobody knows what Netanyahu’s endgame is
▼ + stars: | 2024-10-23 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +11 min

The Israeli military has already withdrawn from the area twice after saying, both times, that it had crushed Hamas there. A drone fired over the weekend slipped through Israeli air defenses and struck Netanyahu’s beach house some 50 miles from the Lebanese border. Netanyahu’s reluctance to strike a ceasefire deal, even now after securing several military victories, has angered many in Israel. “Ending the Gaza war and the Lebanon war is not an option for his political partners in the coalition. Mahmoud sleem/Anadolu/Getty Images“Netanyahu knows that there is no bigger picture of victory afterwards, because both Sinwar and Nasrallah are dead.

Persons: Yahya Sinwar, Benjamin Netanyahu, Netanyahu, Hassan Nasrallah, “, ’, ”, Bushinsky, Sinwar, …, ’ Netanyahu, Itamar Ben, Bezalel Smotrich, Gayil Talshir, we’ve, Talshir, Jack Gue3z, Biden, Israel, Antony Blinken, Joe Biden, Kamala Harris’s, what’s, ” Talshir, Mahmoud sleem, “ Netanyahu, Nasrallah, Donald, Trump, he’ll Organizations: Jerusalem CNN, Israel, Hamas, CNN, Finance, Hebrew University, Getty, State Locations: Jerusalem, Gaza, Israel, Iran, Hezbollah, Lebanon, Northern Gaza, Lebanese, Caesarea, Gaza . Aviv, Tel Aviv, AFP, Anadolu, Saudi, reemerge

KAZAN, Russia — Almost 700 miles east of Russia's war in Ukraine, the city of Kazan is a safe enough distance for President Vladimir Putin to try and reposition himself as an international ambassador. The countries gathering for the BRICS summit, where Gavrilov is helping to chaperone delegates, share a similar mix of apparently contradictory views. Russia and Iranian protocol teams huddled together in a Kazan hotel Sunday planning the arrival of Iran’s President Masoud Pezeshkian. Russian President Vladimir Putin and UAE President Sheikh Mohammed bin Zayed Al Nahyan sign a wall at newly opened education center in Moscow on Monday. While Ukraine is a “long, long way away, the modern ballistic missile can very easily come here,” Gavrilov said.

Persons: Vladimir Putin, Putin, Islam Gavrilov, Sergei Gavrilov, “, Gavrilov, ”, didn’t, —, it’s, Masoud Pezeshkian, Sheikh Mohammed bin Zayed Al Nahyan, Mikhail Metzel, Sheikh Abdullah bin Zayed Al Nahyan, Recep Tayyip Erdogan, Prince Mohammed bin Salman, Prince Faisal bin Farhan, Luiz Inácio Lula da Silva, they’ve, ” David Lubin, you’re, ” Gavrilov, Keir Simmons, Natasha Lebedeva, Freddie Clayton Organizations: NBC, NASA, Harvard University, The, Putin, United Arab, European Union, Kremlin, Wednesday, Saudi Arabia’s Crown, Chatham House, NBC News, Inside Locations: KAZAN, Russia, Ukraine, Kazan, Kremlin, United States, Moscow, America, U.S, — Brazil, India, China, South Africa, Egypt, Ethiopia, Iran, United Arab Emirates, UAE, London, Russian, Yelabuga, Nizhnekamsk, “

☆ 2 of the world's biggest oil producers are looking for new ways to power their economies
▼ + stars: | 2024-10-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Oil prices ended down 7% last week and are lower this year-to-date, despite Middle East tensions. Oil prices have been depressed this year because China — the world's largest oil importer — is in a prolonged economic downturn. Last year, they each accounted for 11% of the world's oil supply. This means that Saudi Arabia is looking to corner a larger market share instead of targeting higher profit margins by restricting output. Advertisement"But the problem is when oil prices spike, it sends oil companies searching for temporarily profitable oil," he added, referring to the US shale boom as the most recent example.

Persons: —, Abishur Prakash, Prakash, Anton Siluanov, Matthew Huber, we're, Huber Organizations: Service, —, Financial Times, International Energy Agency, Brent, US West Texas, Syracuse University, Saudi, Trump, OPEC Locations: Saudi Arabia, Russia, China, Toronto, Israel, Iran, Europe, OPEC

☆ Washington’s Arab allies engage with Iran as US efforts to stem Middle East violence falter
▼ + stars: | 2024-10-22 | by ( Mostafa Salem | ) edition.cnn.com time to read: +7 min

Abu Dhabi, UAE CNN —Growing unease over the United States’ inability to de-escalate tensions in the Middle East is prompting some of Washington’s closest Arab allies to significantly increase engagement with its primary regional adversary: Iran. Arab nations that had spent decades brawling with Iran for regional influence are now opting to engage with it again. Despite seeing an opportunity to weaken Iran’s regional influence, Arab nations are now signaling neutrality. “The Gulf (Arab) monarchies’ priority is not to be directly involved in a proper regional conflagration. Still, regional states rely heavily on their military relationship with the US.

Persons: State Anthony Blinken, Yahya Sinwar, Israel, Blinken’s, Hassan Nasrallah, Ismail Haniyeh, Prince Mohamed bin Salman, Ayatollah Ali Khamenei, Hitler, ”, Abbas Araghchi, Jordan’s King Abdullah II, Abdel Fattah Al, ” Araghchi, Crown Prince Sabah, Cinzia Bianco, ” Kuwaiti Crown Prince Sheikh, ” Kuwaiti Crown Prince Sheikh Sabah Khaled Al, Hamad Al, ” Hasan Alhasan, Biden, Benjamin Netanyahu, “, ” Anwar Gargash, Joe Biden’s, Abu, ” Bianco, Jake Sullivan Organizations: UAE CNN, State, Saudi Arabia’s, Iranian, Saudi, Bahraini, Crown, CNN, European Council, Foreign Relations, ” Kuwaiti Crown, Kuwait News Agency, Reuters, Middle, International Institute for Strategic Studies, Israeli, United Arab Emirates, US, US National, Atlantic Festival Locations: Abu Dhabi, UAE, United States, Washington’s, Iran, Republic, Israel, Gaza, Lebanon, Tehran, Riyadh, Tehran’s, Amman, Egypt, Abdel Fattah Al Sisi, Cairo, Doha, Muscat, Manama, Crown Prince, Crown Prince Sabah Al, Sabah, Kuwait City, Islamic Republic, ” Kuwaiti Crown Prince Sheikh Sabah, Bahrain, Saudi Arabia, Saudi, Washington, Yemen, China, Washington ,

☆ Neymar returns from ACL injury after more than a year on the sidelines
▼ + stars: | 2024-10-22 | by ( Jamie Barton | ) edition.cnn.com time to read: +2 min

CNN —Brazilian soccer star Neymar made his return to the pitch more than a year after rupturing his anterior cruciate ligament (ACL) and meniscus in his left knee, playing 20 minutes for Al-Hilal on Monday. The 32-year-old was introduced as a substitute in the 77th minute of the team’s 5-4 AFC Champions League Elite win against Al Ain on Monday. “I’m so happy,” the Brazilian said to Al-Hilal’s media department following his return on Monday. Neymar controls the ball during the AFC Champions League Elite match between Al Ain and Al-Hilal on October 21. His contract with Al-Hilal, which is top of the league having won all seven of its games, expires in June 2025.

Persons: Neymar, Germain, Nicolás de, Nicolás de la Cruz, “, ”, Santos, He’s, Rafael Leão, ” Neymar, Francois Nel Organizations: CNN, Al, Monday, AFC, League Elite, Al Ain, Saudi, Paris Saint, Copa, CONMEBOL, Venezuela, AFC Champions, Elite, Saudi Pro League Locations: Brazilian, Hilal, Paris, Brazil, Uruguay, Nicolás de la, Santos, Portuguese, Al Ain, Al

☆ Oil prices trim Middle East war risk-gains, China demand remains a worry
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: +3 min

Oil prices fell on Tuesday, paring the previous day's nearly 2% rise as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East, and as slow demand in China, the world's top oil importer, continued to weigh on the market. Oil prices fell on Tuesday, paring the previous day's nearly 2% rise as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East, and as slow demand in China, the world's top oil importer, continued to weigh on the market. "Crude oil prices have been fluctuating in response to mixed news from the Middle East, as the situation alternates between escalation and de-escalation," Satoru Yoshida, a commodity analyst with Rakuten Securities. U.S. Secretary of State Antony Blinken headed to the Middle East on Monday seeking to revive talks to end the Gaza war and defuse the spillover conflict in Lebanon. China's oil-demand growth is expected to remain weak in 2025 despite recent stimulus measures from Beijing as the world's No.

Persons: paring, Brent, WTI, recouping, Satoru Yoshida, Antony Blinken Organizations: Brent, . West Texas, Rakuten Securities, International Energy Agency Locations: China, Iran, Gaza, Lebanon, Beijing, Saudi Aramco

☆ Scammers are stealing homes from under their owners' noses. AI is making it scarily easy.
▼ + stars: | 2024-10-22 | by ( Jordan Pandy | Katie Balevic | ) www.businessinsider.com time to read: +12 min

The owner of a $137.5 million LA mansion says they're a victim of deed fraud and can't sell it. AdvertisementSpelling Manor's owner told the Journal through their lawyer that scammers filed a fraudulent deed with Los Angeles County earlier this year. The FBI's Internet Crime Complaint Center doesn't specifically track deed fraud. Gordon eventually got his property back after the title company signed a quitclaim deed that relinquished ownership, giving him his land back. Kiar said that in September, someone contacted a title company saying they had a vacant lot to sell in Hallandale Beach.

Persons: they're, —, Aaron Spelling, It's, Eric Schmidt —, scammers, Paul Harris, Tyler Adams, it's, Fraudsters, Victor Petrescu, LKLSG, Adams, Spelling, Elvis Presley, Elvis Presley's, Riley Keough, Jerod Harris, Lisa Jeanine Findley, Graceland, Findley, Scammers, William Gordon's, Gordon, Gabriella Cázares, Kelly, Petrescu, Daniel Kenigsberg, Marty Kiar, Kiar, hadn't, fraudsters Organizations: Service, Google, Wall Street Journal, Association, Spelling, BI, Mapleton, LA, Graceland, GAB, Getty, Naussany, NBC Miami Locations: Los Angeles, Beverly, Mapleton, Saudi, Angeles, Spelling, LA, Miami, Memphis , Tennessee, Missouri, Arizona, Pima County, Texas, —, Fairfield , Connecticut, Johannesburg, Broward County , Florida, Hallandale Beach

☆ Putin's expanded BRICS summit proves he has friends — but risks buckling under its own contradictions
▼ + stars: | 2024-10-22 | by ( Thibault Spirlet | Huileng Tan | ) www.businessinsider.com time to read: +6 min

AdvertisementRussia is flexing its muscles at the center of the BRICS economic bloc, which seeks to rival the West. Iran, Egypt, Ethiopia, and the United Arab Emirates are the new BRICS entrants, joining the earlier members Russia, India, China, Brazil, and South Africa. He said it had "no chance" of political unity given its members' competing interests and starkly differing attitudes. The greenback, though, will be hard to dethrone — even without competing priorities and rivalry among BRICS members. AdvertisementHe said that while BRICS members were united in a desire for change, "there's no real strategy within BRICS aside from fancy phrases to make it work."

Persons: —, Vladimir Putin, Abishur Prakash, Anton Barbashin, South Africa —, Barbashin, Una Aleksandra Berzina, Evgeny Roshchin, Johns Hopkins University's Henry A, Putin, SWIFT, Yakov Organizations: Service, West, United, South, Riddle Russia, Riga Stradins University's China Studies Center, Politico, Center for, Johns, Kissinger Center, Global Affairs, Partners, Bank for International Locations: Russia, Western, Iran, Egypt, Ethiopia, United Arab Emirates, India, China, Brazil, South Africa, Saudi Arabia, Russian, Toronto, —, Ukraine, standoffs, Moscow

☆ An effective, cheap hedge on Apple shares into earnings, according to Mike Khouw
▼ + stars: | 2024-10-21 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

The largest source of revenue is the iPhone, and the company released its iPhone 16 last month. Other Apple products include Mac computers and iPad tablets, Apple Music, the Apple Watch, and other wearable devices. Android mobile devices indeed have a more significant smartphone market share internationally. The DOJ filed suit in March of this year, allegedly violating antitrust laws by monopolizing the smartphone market. At 31.5 times forward earnings estimates, Apple is four turns richer than the 27.5 5-year average.

Persons: Saudi Arabia's, what's, Dan Ives, YTD Organizations: Apple, Apple Music, Apple Watch, Cloud Services, Samsung, Microsoft, Saudi, Aramco, Android, DOJ, CNBC, NBC UNIVERSAL Locations: Americas, United States, Korea, China, Wedbush

☆ Women soccer players call on FIFA to cut ties with Saudi oil giant Aramco
▼ + stars: | 2024-10-21 | by ( Ben Church | ) edition.cnn.com time to read: +5 min

CNN —More than 100 soccer players from the women’s game have signed an open letter to FIFA, urging the sport’s world governing body to end its sponsorship deal with Saudi oil and gas company Aramco. In April this year, FIFA announced a four-year global partnership with the majority state-owned oil giant, giving it sponsorship rights to the 2026 men’s World Cup and the 2027 Women’s World Cup. “The Saudi authorities trample not only on the rights of women, but on the freedom of all other citizens too,” the letter, addressed to FIFA president Gianni Infantino, said. Last year, it produced an average of 12.8 million barrels of oil a day, far more than any other company. US oil and gas companies combined, however, produce more than Saudi Arabia, according to a 2023 analysis from the US Energy Information Administration.

Persons: Vivianne Miedema, Becky Sauerbrunn, trample, Gianni Infantino, “, Miedema, ”, John Walton, Prince Mohammed bin Salman, sportswashing Organizations: CNN, FIFA, Saudi, Manchester City, Saudi Aramco, BBC, CNN Sport, Aramco, Manchester, Fox News, US Energy Information Administration, “ Grassroots, ”, Women’s Locations: Saudi, Aramco, Saudi Arabia, Saudi Aramco

☆ U.S. crude oil rebounds more than 2% after selling off last week
▼ + stars: | 2024-10-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

U.S. crude oil futures jumped more than 2% on Monday, reclaiming some of the losses from last week's steep sell-off. The U.S. benchmark finished last week more than 8% lower as traders increasingly believe Israel-Iran tensions will not lead to an oil supply disruption in the Middle East. Prices rose Monday after China cut its benchmark lending rate. Saudi Aramco CEO Amin Nasser said he remains "fairly bullish" on demand in the world's second largest economy. Here are Monday's energy prices:The oil market has shifted focus back to supply and demand fundamentals, with consumption in China softening as supplies are expected to rise.

Persons: Amin Nasser, Morgan Stanley Organizations: Saudi Locations: U.S, Israel, Iran, China

☆ Lucid CEO says Wall Street misinterpreted $1.75 billion capital raise
▼ + stars: | 2024-10-21 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Investors misinterpreted a public offering last week by Lucid Group that raised roughly $1.75 billion — and led to the stock's worst daily performance in nearly three years — CEO Peter Rawlinson told CNBC. It also should alleviate worries that the company would issue a "going concern" disclosure regarding its operations, he said. As a Nasdaq company, we have to avoid a going concern. And a going concern is issued within 12 months of your financial runway," Rawlinson said Monday from the company's newly opened offices in suburban Detroit. That included more than $4 billion in cash, cash equivalents and investment balances.

Persons: Peter Rawlinson, Rawlinson, We'd, Lucid, Morgan Stanley, Adam Jonas Organizations: Lucid, Nasdaq, Lucid Motors, Churchill Capital Corp, DETROIT —, Lucid Group, CNBC, Saudi, Public Investment Fund Locations: New York City , New York, Detroit

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