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☆ Stocks are the 'asset class of choice' as markets are now used to bad news, strategist says
▼ + stars: | 2024-01-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 29, 2024. One is energy prices — will the trouble in the Middle East be a transmission into higher energy prices, or the war in Eastern Europe? Not really, if you look at how energy prices have developed," he told CNBC's "Squawk Box Europe" on Tuesday. watch nowHe added that markets had "gotten used to trouble in geopolitics" over the last five years, so the impact on asset prices of any further bad news would be somewhat limited. Wittmann acknowledged that risk, but remains bullish about broader upside potential in stocks.

Persons: Brendan Mcdermid, Beat Wittmann, Wittmann, CNBC's Organizations: New York Stock Exchange, Porta Advisors, Federal Reserve, Fed Locations: New York City, U.S, Eastern Europe, Covid, Suez, Israel, Ukraine

Global inflation is expected to fall to 5.8% in 2024 and to 4.4% in 2025. “The global economy begins the final descent toward a soft landing, with inflation declining steadily and growth holding up. That is not to say the global economy is without challenges. It also raises concerns about a revival of global inflation pressures as importers face surging shipping costs,” said Lydia Boussour, senior economist at EY-Parthenon. “For now, we don’t expect the situation in the Red Sea to substantially alter the outlook for global inflation and global monetary policy this year,” she added.

Persons: ” Pierre, Olivier Gourinchas, ”, Lydia Boussour, Gourinchas, ” Gourinchas, Eric LeCompte, LeCompte Organizations: Monetary Fund, IMF, Federal Reserve, . News, USA Locations: U.S, China, –, Ukraine, Iranian, Suez, EY, India, Russia, East, Central Asia, Saudi Arabia, “, Brazil

FRANKFURT, Germany (AP) — Europe’s economy failed to expand at the end of 2023, with the stagnation now lasting for more than a year amid higher energy prices, costlier credit and lagging growth in powerhouse Germany. Zero economic growth for the October-to-December period of last year follows a 0.1% contraction in the three months before that, according to figures released Tuesday by EU statistics agency Eurostat. That extends a miserable run of economic blahs: The 20 countries that use the euro currency have not shown significant growth since the third quarter of 2022, when the economy grew 0.5%. With higher shipping costs and delays to products from clothes to keyboard components, concerns are growing of new consumer price spikes if the conflict in Gaza drags on or escalates. The trade disruption could add as much as 0.5% to core inflation, which excludes volatile fuel and food prices, Oxford Economics said.

Persons: ”, Holger Schmieding, Yemen's Houthi Organizations: EU, Eurostat, European Central Bank, Oxford Economics, ECB, Hamas, Oxford Locations: FRANKFURT, Germany, Suez, Asia, Europe, Berenberg, United States, Russia, Ukraine, Red, Africa, Gaza

☆ Egypt is renovating one of its ancient pyramids using granite, and some experts are horrified
▼ + stars: | 2024-01-30 | by ( Mia Jankowicz | Reem Makhoul | ) www.businessinsider.com time to read: +3 min

Egypt's antiquities chief announced a project to restore an ancient pyramid's granite cladding. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA restoration project to cover one of Egypt's most iconic pyramids with granite cladding has produced a decidedly mixed reaction among heritage experts and social media users. The strong reactions have caused Egypt's Ministry of Antiquities to call for a pause to reexamine the project's feasibility, according to the Telegraph.

Persons: —, Mostafa Waziri, Khufu, Waziri, Khaled Desouki, Monica Hanna, Hanna, Hussein Bassir, Salima, Egypt's Organizations: Service, Egypt's, of Antiquities, Facebook, Independent, The Telegraph, Independent Arabia, Biblioteca, American University, Egypt's Ministry of Antiquities Locations: Giza, Cairo, Independent Arabia, Suez, Pisa, France

☆ The Red Sea crisis tests China’s global ambitions
▼ + stars: | 2024-01-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

China’s responseThe Houthi rebels in Yemen started firing missiles and drones at ships in the Red Sea in mid-November, in what they say is an act of solidarity with Palestinians. Chinese officials repeatedly stressed that the Red Sea crisis is a “spillover” from the conflict in Gaza, citing an immediate ceasefire between Israel and Hamas as the top priority. Beijing’s reluctance to wade into the Red Sea crisis reflects these geopolitical calculations. The Chinese government readout of the meeting between Wang and Sullivan did not mention the Red Sea. Egypt is losing millions of dollars per day from the reduced traffic at the Suez Canal at the northern end of the Red Sea.

Persons: Houthi, “, ”, Mordechai Chaziza, Xi Jinping, Israel, ” Chaziza, Wang Yi, Jake Sullivan, Iran ”, we’re, Wang, Sullivan, Ebrahim Raisi, Yan Yan, OOCL, Kuehne + Nagel, Jonathan Fulton, “ can’t, ” Fulton, William Figueroa, Xi Organizations: Hong Kong CNN, Ashkelon Academic College, Beijing, Iran, People’s Liberation Army Navy, Britain, United Nations Security Council, Global, Western, Chinese Foreign, White House, Reuters, Chinese Foreign Ministry, China, Shanghai Shipping Exchange, Atlantic Council, University of Groningen, Xi’s Global Security Initiative, GSI, Hamas Locations: Hong Kong, Red, Israel, Ashkelon, United States, China, Europe, Yemen, Gulf, Aden, Djibouti, Beijing, Gaza, Bangkok, Iran, Tehran, Africa, Switzerland, Francisco, Shanghai, Abu Dhabi, Egypt, Suez, Sea, Saudi Arabia, Netherlands

☆ 'The shooting has to stop': World's biggest shipping company pleads with Congress to help end Houthi Red Sea chaos
▼ + stars: | 2024-01-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Ralby stressed the crisis in the Red Sea is not just a U.S. problem, but recent attacks by the U.S. military have led to greater targeting of its vessels. After those attacks, Maersk announced it would no longer be transiting the Red Sea. MSC announced on December 17 that it would divert its services that would typically transit the Red Sea and the Suez Canal around the Cape of Good Hope. Sailing around the Cape of Good Hope to avoid the Red Sea adds one to two weeks to a one-way shipping journey relative to the Red Sea and Suez Canal. Rising freight costs were a big component of inflation during Covid and the Red Sea crisis has renewed fears that another bout of supply chain-triggered inflation could occur.

Persons: Ralby, Ian Ralby, Darr, Charles, Bud, Salud Carbajal, Biden, Hapag Lloyd, Bab, Good Hope, Jon Gold, Phillips, Ralph Lauren, Levi Strauss, Gold Organizations: U.S, Mediterranean Shipping Company, U.S . Navy, Coast Guard, Maritime Transportation, MSC, Senate Foreign Relations Committee, Maersk, Maersk Detroit, Maersk Chesapeake, Navy, Intelligence, Suzuki, Volvo, Michelin, Ikea, National Retail Federation, Bank of America, Van Heusen Corporation, Birkenstock, Capri Holdings, Nike, Corp Locations: Suez, Ismailia, Egypt, Yemen, U.S, Iran, Gulf, Aden, Maersk, Good, Europe's, Asia, Europe, Vietnam

☆ 2 reasons why Red Sea disruptions won't send inflation soaring again, according to Goldman Sachs
▼ + stars: | 2024-01-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Goldman Sachs doesn't expect an inflation spike in the US fueled by turmoil in the Red Sea. To be sure, Red Sea disruptions have caused freight costs to soar as much as 350%. AdvertisementShipping disruptions in the Red Sea have caused freight costs to spike, but the impact on inflation will remain muted, according to Goldman Sachs. Goldman Sachs Global Investment ResearchHowever, they maintained that goods inflation still won't see a meaningful uptick for two reasons. "Under reasonable pass-through assumptions, a 100% increase in the cost of sea freight therefore only raises core goods inflation by around 0.4pp and overall core inflation by around 0.1pp," the Goldman strategists said.

Persons: Goldman Sachs, —, Jan Hatzius, Hatzius Organizations: Service, Shipping, Goldman Sachs Global Investment Research, Goldman Locations: Red, Iran, Israel, Gaza, Suez, Asia, Europe, China, Southeast Asia, 0.4pp, 0.1pp

☆ Global trade will fall this year amid slower growth and Red Sea turmoil, WTO official says
▼ + stars: | 2024-01-29 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Read previewThe World Trade Organization is likely to slash 2023 and 2024 trade projections due amid weaker-than-expected global economic activity and disruptive attacks by Houthi militants in the Red Sea. The WTO previously projected a rise of 0.8% in merchandise trade volumes for 2023 and a 3.3% increase for 2024. Ossa said the WTO would publish updated forecasts in the coming months, and various global organizations have trimmed their GDP growth forecasts this year, impacting the WTO's trade predictions. He also emphasized a growing uptick in consumer prices due to surging shipping costs since the Houthi attacks began. The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023.

Persons: —, Ralph Ossa, Ossa, haven't, Joe Biden Organizations: Service, Trade Organization, Business, WTO, Reuters, Galaxy Leader, Houthi Military Locations: Red, Iran, Suez, Europe

☆ Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +8 min

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was "impacting everyone and something we're very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was "only mildly impacted by the transit challenges in the Red Sea."

Persons: It's, Petersen, Ryan Petersen, Clifton Broumand, Broumand, it's, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti Organizations: Galaxy, Houthis Media, Getty, Machine, Hamas, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer Urban Outfitters, Free People Locations: Iran, Yemen, Anadolu, Greater Landover , Maryland, Taiwan, China, Gaza, Panama, Asia, Europe, United States, Suez, Africa, Ukraine, Belgium, Germany, British, Maryland, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was “impacting everyone and something we’re very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was “only mildly impacted by the transit challenges in the Red Sea."

Persons: What’s, Ryan Petersen, Petersen, It’s, Clifton Broumand, Broumand, —, ”, “, it’s, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, it's, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti, ____ Anderson, Kelvin Chan, Anne D'Innocenzio, Yuri Kageyama, Tom Krisher, David McHugh Organizations: WASHINGTON, —, Hamas, Machine, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer, Free People, AP Business Locations: Belgium, Germany, British, Maryland, Asia, Ukraine, Yemen, Gaza, Europe, United States, Suez, Africa, “, Panama, Greater Landover , Maryland, Taiwan, China, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India, New York, London, Tokyo, Detroit, Frankfurt

CNN —An oil tanker in the Gulf of Aden is on fire after a missile attack by Yemen’s Houthi militants, in the latest incident linked to the Iran-backed group in the key shipping route. US Central Command said the ship had issued a distress call and reported damage after militants fired an anti-ship ballistic missile from a Houthi-controlled area of Yemen. The USS Carney, a guided missile destroyer, and other coalition ships responded “and are rendering assistance,” Central Command said. Earlier in the day, the USS Carney had shot down a Houthi anti-ship ballistic missile that targeted the US warship, according to US Central Command. Houthi forces stormed the capital Sanaa in 2014, and toppled the internationally recognized and Saudi-backed government, triggering a civil war.

Persons: Yemen’s, ”, Carney, Biden, Abdul Malek al, Houthi Organizations: CNN, US Central Command, ”, Command, Resource Management, US, United Nations Development Programme Locations: Gulf, Aden, Iran, British, Yemen, Britain, Israel, Gaza, America, Africa, Suez, Saudi

BANGKOK (AP) — Senior U.S. and Chinese representatives are expected to meet in Bangkok, Thailand as the two countries seek to cool tensions. Officials from both sides said U.S. National Security Adviser Jake Sullivan and Chinese Foreign Minister Wang Yi would meet. Political Cartoons View All 253 ImagesChinese foreign ministry spokesperson Wang Wenbin confirmed that Wang Yi plans to meet with Sullivan. Sullivan, whose visit is scheduled to end Saturday, paid a courtesy call Friday on Prime Minister Srettha Thavisin and later held a bilateral meeting with Foreign Minister Parnpree Bahiddha-Nukara, the Thai foreign ministry said. The Thai foreign ministry announced that Wang Yi will meet with his counterpart on Saturday to sign an agreement exempting Thai nationals from requiring visas to visit China, and on Monday will meet with the prime minister.

Persons: Jake Sullivan, Wang Yi, Adrienne Watson, “, Biden, Xi, Wang Wenbin, Sullivan, Wang, Srettha Thavisin, Parnpree Bahiddha, ” Organizations: — Senior, National, Foreign, Thai, National Security, Foreign Ministry, Washington Locations: BANGKOK, Bangkok, Thailand, Thai, Suez, China, Iran, Beijing, Chinese, North Korea, Washington, Myanmar, Ukraine

FRANKFURT, Germany (AP) — European Central Bank President Christine Lagarde will likely push back Thursday against expectations for quick interest rate cuts even as Europe's economy sputters and financial markets froth in hopes of cheaper credit that would boost business activity and stock prices. Lagarde has cautioned that the bank will make decisions based on the latest figures about the economy's health rather than making longer-term promises. Fed Chair Jerome Powell said officials discussed prospects for rate cuts at the bank's December meeting, and the U.S. central bank has indicated it would cut its key interest rate three times this year. Rate cuts make riskier investments like stocks more attractive than safer bets like money market accounts and certificates of deposit. Expectations for rate cuts have been fueled by the rapid drop of inflation in Europe to 2.9% in December from the peak of 10.6% in October 2022.

Persons: Christine Lagarde, Lagarde, Jerome Powell, “ Lagarde, Yemen's Houthi Organizations: Central Bank, ECB, U.S . Federal Reserve, Union Locations: FRANKFURT, Germany, Frankfurt, U.S, Europe, Ukraine, Berenberg, Suez, Africa

UNITED NATIONS (AP) — The U.N. trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Since November, the Iranian-backed Houthis have launched at least 34 attacks on shipping through the waterways leading to the Suez Canal. Total transits through the Panama Canal in December were 36% lower than a year ago, and 62% lower than two years ago, Hoffmann said. Hoffmann said ships transporting liquified natural gas have stopped transiting the Suez Canal altogether because of fears of an attack. “Here you see the global impact of the crisis, as ships are seeking alternative routes, avoiding the Suez and the Panama Canal,” Hoffmann said.

Persons: Jan Hoffmann, Yemen’s Houthi, Hoffmann, Yemen’s, ” Hoffmann Organizations: UNITED NATIONS, United Nations Conference, Trade, UNCTAD, Suez, U.N, Ships Locations: Red, Ukraine, Panama, Suez, Asia, Europe, Iranian, Saudi, Israel, United States, Britain, Geneva, Russia, East Africa, South Asia, Southeast Asia, East Asia, Hope, Africa, Shanghai, U.S

☆ Second French Warship Arrives in Red Sea Region - Army
▼ + stars: | 2024-01-25 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

PARIS (Reuters) - A second French warship has arrived in the Red Sea region as part of efforts to ensure freedom of navigation, the French army said on Thursday. Many commercial shippers have diverted vessels to other routes following attacks in the Red Sea by Yemen's Iran-backed Houthi militants, who say they are acting in solidarity with Palestinians as Israel and Hamas wage war in Gaza. The Languedoc warship has already been patrolling in the Bab al-Mandab straits since Dec. 8 alongside a U.S.-led international mission to protect ships from attacks. In a weekly briefing to reporters, the army said the Alsacewarship had crossed the Suez Canal and would continue its mission in the Red Sea and Indian Ocean. "In close cooperation with the allies the French warships contribute to the respect of international law and freedom of navigation," the army said.

Persons: Emmanuel Macron, John Irish, Andrew Cawthorne Organizations: PARIS Locations: French, Red, Iran, Israel, Gaza, Languedoc, U.S, Alsace, Suez, France

☆ Shipping Costs Soar in Wake of Red Sea Attacks
▼ + stars: | 2024-01-24 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

For shipping companies, costs have already increased. A composite measure of global shipping costs, the Drewry World Container Index, has more than doubled since late last year. The rise is partly tied to a shortage of empty shipping containers, caused by the up to two weeks of additional time for trips going around Africa’s Cape of Good Hope. And using the Red Sea now requires expensive war risk insurance. It’s a specialty that a group of brokers and underwriters centered around London offer.

Persons: Good Hope Organizations: Container, underwriters Locations: Red, Suez, Africa, Drewry, Africa’s, Good, London

BEIJING (AP) — China, the world’s biggest exporter, says it is deeply concerned about tensions in the Red Sea that have upended global trade by forcing many shippers to avoid the Suez Canal. Political Cartoons View All 253 Images“We are deeply concerned about the recent escalation of the Red Sea situation. The Red Sea is an important international trade route for goods and energy,” Wang said. Some of the world’s largest container shipping companies and oil giant BP have been sending vessels on longer journeys around Africa that bypass the Red Sea. In response to the growing impact on global trade, the United States and a host of other nations have created a new force to protect ships.

Persons: Wang Wenbin, ” Wang, Yemen’s, Israel —, Wang, Good Hope, “, ” Organizations: BEIJING, Foreign, Kiel Institute, Washington, U.S, United Nations Security Locations: China, Suez, Iran, Red, Iranian, Asia, Europe, Sanaa, Saudi, Israel, Gaza, United States, Africa, Good, Drewry, Germany, U.S, Iraq, Syria, Red Sea, Saudi Arabia, East, Beijing, Yemen

☆ Why the West can't stop the Houthi rebels' missile attacks on ships
▼ + stars: | 2024-01-23 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

They enjoy three advantages that magnify their ability to create havoc, and make it difficult for the West to stop them. Bab el Mandeb is just 70 miles long and 20 miles wide, within easy range of land-based anti-ship missiles, drones and even howitzers firing extended-range shells. The Houthis also have Iranian-made anti-ship ballistic missiles with a range of around 300 miles, as well as drones. Even a giant aircraft carrier is hard to spot in the vastness of the ocean, and an anti-ship missile's onboard radar can only scan a small area . The Houthis claim they are only attacking Israeli ships out of solidarity with Gaza, though many of the ships have nothing to do with Israel .

Persons: Bab el, Quds Organizations: Service, U.S, U.S ., International Institute for Strategic Studies, US Locations: Red, America, Yemen, Europe, U.S . East Coast, India, East Asia, Suez, Egypt, East Coast, Bab, Eritrea, Djibouti, Iran, Saudi, Gaza, Israel, Persian, Tehran isn't, Vietnam

☆ Premarket stocks: The world is a mess and Wall Street isn’t paying attention
▼ + stars: | 2024-01-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But geopolitical tensions are growing and Wall Street appears to be underestimating their potential impact on the global economy and markets. The United States and China are squabbling about trade, particularly high-powered AI chips that both believe carry consequences for national security. Less trade could mean lower supplies to meet demand — and that could be bad news for inflation around the world. Bank of America also gave geopolitical risk a top spot on its list of surprises that could affect markets in 2024. It’s the worst start to a year for Chinese stocks since 2016, when investors were ditching their holdings following a market crash in 2015.

Persons: ”, “, Jamie Dimon, dory, he’s, Anna Cooban, Laura He, Hong, Premier Li Qiang, Ken Cheung, Catherine Thorbecke Organizations: New, New York CNN, Dow Jones, Federal Reserve, BlackRock, Shipping, CNBC, Economic, Bank of America, Center for Strategic, International Studies, Apple, Google, Microsoft, Meta, Nvidia, “, Shenzhen Component, Premier, Mizuho Bank, MIT’s Computer, Artificial Intelligence Locations: New York, Russia, Ukraine, United States, China, Taiwan, Suez, Iranian, Pakistan, Iran, Europe, Asia, Drewry, Yemen, Davos, Switzerland, Wall, Shanghai, Shenzhen

☆ As more tankers divert from Suez Canal, there's a 'sea change' in way Europe is buying crude
▼ + stars: | 2024-01-23 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Al HUDAYDAH, YEMEN - JULY 17: Yemen's replacement oil tanker Nautica floats over its arrival to Al Hudaydah port in the Red Sea on July 17, 2023 in Hudaydah, Yemen. (Photo by Mohammed Hamoud/Getty Images)Energy prices for Europe are expected to increase as more petroleum products and crude tankers are diverting away from the Rea Sea and Suez Canal. They would rather go around the Cape of Good Hope versus taking a chance through the Red Sea." LNG vessels travel faster than oil tankers because they are lighter and they can sail up to 21 knots versus the 12-13 knots for crude tankers. Before the Red Sea disruptions, a tanker from Jamnagar, India to Rotterdam, Netherlands would have taken 24 days.

Persons: Al, Mohammed Hamoud, Rea, Viktor Katona, Good Hope, It's, Katona Organizations: United Nations, Europe, U.S, Good Locations: Al HUDAYDAH, YEMEN, Al Hudaydah, Hudaydah, Yemen, Sana'a, Europe, Suez, Brazil, Africa's, Good, Israel, Jamnagar, India, Rotterdam, Netherlands, Basrah, Iraq, Milazzo, Sicily

☆ Netflix is the king of streaming. But can it last?
▼ + stars: | 2024-01-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at what to expect ahead of Netflix's big earnings report. This story is available exclusively to Business Insider subscribers. And as other streamers scramble to figure out long-term business plans, Netflix has been crowned the winner of the streaming wars thus far. Netflix is so big it even has shows from other streamers, a sign of how ubiquitous it has become. AdvertisementGet in touchinsidertoday@insider.comTo read unlimited articles, subscribe to Business Insider.

Persons: —, It's, Scott Stuber, Stuber, Insider's Lucia Moses, That'll, dealmaking, isn't, Insider's Peter Kafka, Peter, it's, James Leynse, Griffin's, Shaw, Griffin, Gary Weathers, Morgan Stanley, Tesla, Stellantis, Tommy Parker, They're, Oscar, Zazie Beetz, Jack Quaid, They'll, Tim Spector's, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb, Hayley Hudson, Lisa Ryan Organizations: Service, IRS, Business, Netflix, Netflix Films, Traders, Computer Terminals, Goldman, Getty, UBS, Griffin's Citadel, LCH Investments, BlackRock, Los, Peugeot, Chrysler, Dodge, BI, Balyasny, Management, National Baseball Hall of Fame, MLB Network, Procter, Gamble, Electric, Verizon Locations: Goldman Sachs, Los Angeles, Boston, Suez, Panama, New York, San Diego, London, Edinburgh

☆ Widening Mideast Crisis Israel Says 2 Dozen Soldiers Killed as Pressure Grows on Netanyahu
▼ + stars: | 2024-01-23 | by ( Adam Rasgon | Victoria Kim | ) www.nytimes.com time to read: +6 min

Those missiles were hit before they could be fired at ships in the Red Sea or the Gulf of Aden. That changed quickly after the Hamas attacks in Israel on Oct. 7, and the Houthi attacks on commercial ships a month later. U.S. analysts have been rushing to catalog more potential Houthi targets every day, the officials said. That effort yielded many of the targets hit on Jan. 11 and on Monday, officials said. Many Republicans in Congress and some former senior U.S. military officials say the approach is not working.

Persons: Biden, Poseidon Archer, Yahya Sarea, Mr, “, ”, Jon, ” Gen, Kenneth F, McKenzie Jr, ” Vivian Nereim Organizations: Houthi, British, American, Ocean Jazz, White House, Pentagon, U.S, ABC, Republicans, ”, military’s, Command Locations: United States, Britain, Yemen, Iran, Aden, East, Netherlands, Australia, Canada, Bahrain, U.S, Suez, Gaza, American, Gulf, Red, Israel, Riyadh, Saudi Arabia

☆ Stocks making the biggest moves midday: Vita Coco, Archer-Daniels-Midland, Gilead Sciences and more
▼ + stars: | 2024-01-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Archer-Daniels-Midland — The food processor's shares dropped more than 22%, making the stock poised for its second worst day in its history back to 1972. Archer-Daniels-Midland announced weak fourth-quarter earnings guidance and placed Chief Financial Officer Vikram Luthar on administrative leave amid an investigation into the company's accounting practices. StoneCo — Shares of the Brazilian payments company rose more than 6% following an upgrade to a buy rating from Goldman Sachs. The financial firm cited an attractive entry point and a constructive outlook on the next freight cycle as catalysts for the change. Vita Coco — The coconut water company tumbled more than 5% after William Blair downgraded shares to market perform from outperform.

Persons: Archer, Vikram Luthar, Goldman Sachs, Trodelvy, Bernstein, Hunt, Gus Richard, Coco, William Blair, — CNBC's Michelle Fox, Alexander Harring, Hakyung Kim, Tanaya Macheel, Pia Singh, Samantha Subin Organizations: Arkhouse Management, Brigade Capital Management, Daniels, Midland, SolarEdge Technologies, Riley, Bloomberg, U.S . Securities, Exchange Commission, Spirit Airlines, JetBlue Airways —, JetBlue, Gilead Sciences, . Union Pacific, Norfolk Southern, UBS, Northland Capital Markets Locations: Brazil, Norfolk, Suez

☆ US, British Forces Carry Out New Strikes in Yemen-Officials
▼ + stars: | 2024-01-22 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - The United States and British forces carried out a fresh round of strikes against Houthi targets in Yemen, three U.S. officials said on Monday, the latest move against the Iran-aligned group over its targeting of Red Sea shipping. In the past, the United States and British forces have mainly hit Houthi missiles and radar sites. The Houthi attacks have disrupted global shipping and stoked fears of global inflation. But multiple U.S. strikes over the past month have failed to stop Houthi attacks against shipping. Container vessels have been pausing or diverting from the Red Sea that leads to the Suez Canal, the fastest freight route from Asia to Europe.

Persons: Hope, Idrees Ali, Phil Stewart, Jonathan Oatis Organizations: WASHINGTON, British, Red Locations: United States, Yemen, Iran, Israel, Gaza, Suez, Asia, Europe

JERUSALEM (AP) — Iran is “very directly involved” in ship attacks that Yemen's Houthi rebels have carried out during Israel's war against Hamas, the U.S. Navy's top Mideast commander told The Associated Press on Monday. The tempo of Houthi attacks on shipping appears to have slowed for the time being as the U.S. and its allies have increased their naval patrols in the region. A series of attacks blamed on Iran and ship seizures by Tehran followed the collapse of Iran's nuclear deal with world powers. However, Cooper maintained Iran had been directly fueling the Houthi attacks on shipping. There’s no secret there.”Cooper described the ship attacks striking the Mideast as the worst since the so-called Tanker War of the 1980s.

Persons: Yemen's, Adm, Brad Cooper, Cooper, ”, Houthi, that's, Israel —, they’re resourcing, ” Cooper, George Wikoff Organizations: JERUSALEM, Hamas, Associated Press, AP, United Nations, U.S ., Fleet, United, United Arab Emirates, 5th Fleet, Navy, military's, Command Locations: Iran, U.S, Tehran, Aden, Persian, Hormuz, Yemen's, Sanaa, Iranian, Suez, Asia, Europe, Saudi, Israel, Africa's, Egypt, Gulf, Gaza, Washington, America, American, Yemen, Abu Dhabi, United Arab, Bahrain

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