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☆ Natural gas prices are soaring as energy workers in Australia look poised to strike, threatening global supply
▼ + stars: | 2023-08-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Natural gas prices surged as much as 9% on Wednesday as energy workers in Australia threatened to strike. Australia is the world's second-largest exporter of liquefied natural gas, so potential work stoppages could threaten global supply of the commodity. Natural gas prices have surged 22% over the past week, but are still down 60% from a year ago. Natural gas prices are up 22% over the past week, but are still down 60% from a year-ago. Shares of Cheniere Energy, a US-based exporter of liquefied natural gas, surged as much as 5% in Wednesday's trading session.

Persons: Rankin, Goodwyn, Chevron's Wheatstone Organizations: Service, Workers, Australian Financial, Chevron, Cheniere Energy Locations: Australia, Wall, Silicon, Western Australia, Qatar, Woodside, Australian, Chevron's, Ukraine, Russia, US

The referendum, which comes amid a wider reckoning over race relations, proposes to change the constitution and establish an advisory body called the Indigenous Voice to Parliament to give Indigenous Australians a direct say in policies that affect them. Five of those polled were funding or planned to fund the "Yes" campaign, while none endorsed nor were contributing to "No". Commonwealth Bank told Reuters it plans to fund the "Yes" campaign and had hosted two panel discussions with Indigenous speakers. Rio Tinto, which faced criticism in 2020 for destroying Indigenous rock shelters, said the Voice would bring an "additional lens" to government decision-making. Aurora Milroy, a lecturer in Indigenous affairs at the University of Western Australia, said supporting the Voice was easy publicity for companies.

Persons: Rita Wright, Loren Elliott, Anthony Albanese, Intifar Chowdhury, Albanese, Meg O'Neill, Ross Piper, Baker McKenzie, Thomas Mayo, Kate Gillingham, Peter Dutton, Coles, Rio Tinto, Fortescue, Aurora Milroy, Byron Kaye, Praveen Menon, Melanie Burton, David Crawshaw, Devayani, Anant Chandak, Veronica Khongwir, Sujith Pai Organizations: Australian, REUTERS, Australia's, BHP, Rio Tinto, Woodside Energy, Commonwealth Bank of Australia, Labor, Voice, National, Nine Entertainment, Reuters, Commonwealth Bank, Ethical Investment, Qantas, Australian Financial, Liberal, Fair Australia, Miners, Fortescue Metals, University of Western, Thomson Locations: Sydney, Australia, Rio, Western Australia, Woodside, Queensland, University of Western Australia, Melbourne

☆ Elizabeth Holmes just reported to prison. It'll be a drastic change of lifestyle for the convicted Theranos founder.
▼ + stars: | 2023-05-31 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Theranos founder Elizabeth Holmes has reported to prison to begin her 11-year sentence. After several delays, she arrived at a federal prison camp in Bryan, Texas on May 30. Once worth billions on paper, Holmes can expect a drastic change in lifestyle in custody. She reported to a federal prison camp for women in Bryan, Texas, to commence her sentence after losing her most recent appeal. Holmes wouldn't be able to walk freely about the prison camp, and her timetable would be strictly controlled.

Persons: Elizabeth Holmes, Holmes, fraudster Elizabeth Holmes, adieu, John Carreyrou, Bryan, Billy Evans, Philip Pacheco, Theranos, Holmes wouldn't, Bryan she'd Organizations: Securities and Exchange Commission, Wall Street Journal, Getty, CNBC, The New York Times, Times Locations: Bryan , Texas, Silicon Valley, Woodside, San Diego

☆ Elizabeth Holmes Reports to Prison to Begin More Than 11-Year Sentence
▼ + stars: | 2023-05-30 | by ( Erin Griffith | ) www.nytimes.com time to read: +1 min

Ms. Holmes has appealed her case, though her requests to remain out of prison during the appeal have been denied. Ms. Holmes founded Theranos in 2003 after dropping out of Stanford University at age 19. Ms. Holmes and Mr. Balwani were indicted that year. Mr. Balwani was convicted on 12 counts of fraud and is serving a nearly 13-year sentence in a federal prison in San Pedro, Calif. Since her conviction, Ms. Holmes has been living in a rental home in San Diego near the family of Billy Evans, who is the father of her two children.

☆ Elizabeth Holmes reports to prison in a day. It'll be a drastic change from her life of luxury as a onetime billionaire.
▼ + stars: | 2023-05-29 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Theranos' founder, Elizabeth Holmes, is finally set to report to prison Tuesday. After several delays, she's expected to report to a federal prison in Texas by 2 p.m.Once worth $4.5 billion, Holmes can expect a drastic change in lifestyle. She's expected to begin her sentence at a federal prison camp for women in Bryan, Texas, after losing her most recent appeal. Before Theranos collapsed, Holmes would usually dine at expensive restaurants and go on shopping sprees, according to emails cited by prosecutors during her trial. Holmes wouldn't be able to walk freely about the prison camp, and her timetable would be strictly controlled.

☆ An Influencer With a Mission: Supporting New York Restaurants
▼ + stars: | 2023-05-29 | by ( Joshua Needelman | ) www.nytimes.com time to read: +1 min

‘Tastes like home’“Do you smell that?” Mr. Cho asked as he walked through his old neighborhood, about a half-mile from Renee’s. The air carried an aroma that even the most daring fusion restaurant couldn’t dream of achieving: a mix of Thai, Bangladeshi, Pakistani and other cuisines. “Our audience tends to be very diverse, though 10 out of 10 times they’re English fluent, or culturally New York fluent,” Mr. Cho said. (The team recently added Helen Cho, a former producer for “Anthony Bourdain: Parts Unknown,” to lead that charge.) Mr. Cho and Mr. Lee’s grandest vision is to create an incubator for small restaurant owners looking to scale.

Companies Woodside Energy Group Ltd FollowADELAIDE, May 17 (Reuters) - Australia's vast liquefied natural gas (LNG) industry is trying to pull off something that seems almost impossible. They want to lead the transition to clean and renewable energy, while at the same time continuing to invest in, and produce fossil fuels. For example, Woodside is spending some $12 billion to develop its Scarborough natural gas field off Western Australia's coast, and has another advanced LNG project with its Browse field. But the hydrogen projects are largely still at the early stages and even if all the permitting approvals are received, they will still take several years to get up and running. It's an industry-wide problem that projects take several years, and sometimes more than a decade to go from initial proposal to actual production.

SYDNEY, May 8 (Reuters) - Australia's 30 biggest pension funds increased their investments in key coal, oil and gas producers by 50% in 2022 despite the funds' long term commitments to net zero carbon emissions, environmental activist group Market Forces said. Superannuation or retirement funds raised their investment to more than A$34 billion ($23 billion) in companies most responsible for expanding fossil fuels, Market Forces said. Market Forces only named AustralianSuper, which it said had increased its stake in Woodside Energy Group Ltd (WDS.AX), Australia's top independent gas producer, by about 19 times in 2022. In an emailed response, AustralianSuper said it had raised its stake as gas was a key part of an "orderly energy transition" ahead. It estimated more than A$140 billion of Australians' retirement savings are invested in fossil fuel companies through the funds, which have more than 9% of members' share investments in these firms on average.

☆ Australia govt to change petroleum tax, LNG projects to pay more
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, May 6 (Reuters) - Australia will change its Petroleum Resource Rent Tax (PRRT) to increase the tax paid by the offshore LNG industry, moves that should increase revenue by A$2.4 billion ($1.6 billion) over the next four fiscal years, Treasurer Jim Chalmers said on Saturday. "Under the current rules, most LNG projects are not expected to pay any significant amounts of PRRT until the 2030s. The Treasury review of gas pricing was started under the previous conservative government. Chalmers said both reviews had found that aspects of the PRRT were better suited to oil projects than LNG projects, and the deductions cap and other changes would help address that. There is expected to be a substantial improvement in the budget position due to higher than expected commodity prices boosting revenues.

Hudson will be one of the few female executives leading a major company in Australia, although rival carrier Virgin Australia also has a woman as its CEO, Jayne Hrdlicka. "I come with an understanding of this organization that is very deep," Hudson told reporters in her first news conference as CEO designate. "Vanessa has been market-facing as CFO since October 2019, which will have prepared her well for the very public role as Qantas CEO," RBC Capital Markets analyst Owen Birrell said in a note. Though men still account for far more top executive roles in Australian-listed companies, a growing number of high-profile CEO roles are occupied by women, including at the No. Qantas said Hudson would continue in her current role until taking over as Qantas' 13th CEO at the 2023 annual general meeting.

☆ BP agrees to buy Shell's stake in Australian Browse gas project
▼ + stars: | 2023-04-29 | by ( Samuel Mckeith | ) www.reuters.com time to read: +2 min

Woodside, BP and Shell are also all stakeholders in the North West Shelf LNG plant. "BP believes development of the Browse gas resources could make a significant contribution to energy security in Australia and to the Asia Pacific region," a BP spokesperson said. The company said it supported the concept of using carbon capture for the project and processing Browse gas in the North West Shelf LNG plant. Credit Suisse analyst Saul Kavonic said it was likely "very modest" given "the risks and ongoing spend required at the Browse project". Woodside last week played down concerns over the status of Browse project and told Reuters talks had resumed with the North West Shelf LNG joint venture about a processing deal for Browse.

In Norway, this will be exported to Europe, while in Kenya it will be turned into fertiliser for local farmers. FLAT IRON ORE OUTPUTFortescue on Monday posted steady iron ore shipments in the March quarter, while costs jumped 12%, but retained its full year shipment guidance despite a cyclone this month that disrupted exports from Australia's iron ore hub. Shares in the world's fourth largest iron ore miner fell as much as 5.3%, underperforming a 2.2% drop in the broader mining sector (.AXMJ) amid a drop in iron ore prices to near four-month lows on demand concerns. It left its shipments guidance for the year to June 2023 unchanged at 187 Mt to 192 Mt. Fortescue said it aims to start mining at its Belinga Iron Ore project in Gabon in the second half of 2023.

☆ Australia passes tougher emissions reduction law that hits gas investments
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 30 (Reuters) - New rules that cap total Australian greenhouse gas emissions and curb some new gas and coal investments in the country will come into effect on 1 July after parliament passed an upgraded emissions reduction plan on Thursday. Negotiations with the Greens, who wanted a ban on all new fossil fuel investments, resulted in a law including a hard total emissions cap, ministerial review for projects that raise total emissions and compulsory disclosures for polluters that rely heavily on carbon offsets to meet their targets. Under the revised legislation, projects such as the massive Browse field that Woodside Energy (WDS.AX) wants to develop would have to have carbon capture and storage to achieve net zero. The legislation also requires all new gas projects in the Beetaloo Basin to have net zero carbon emissions and new gas fields supplying existing liquefied natural gas (LNG) plants to have net zero reservoir emissions, imposing new costs. Reporting by Lewis Jackson; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's biggest pension funds cut China exposure, buy fossil fuels
▼ + stars: | 2023-03-30 | by ( Lewis Jackson | ) www.reuters.com time to read: +3 min

SYDNEY, March 30 (Reuters) - Two of Australia's largest pension funds pulled money out of Chinese stocks and boosted positions in the country's fossil fuel sector in the final six months of 2022, according to filings published on Thursday. Both funds collectively increased their shareholdings in Woodside Energy Group (WDS.AX), Australia's largest independent natural gas producer, by roughly 14 million shares. The disclosures come just days after activist investors accused the big Australian pension funds of failing to push fossil fuel producers like Woodside hard enough to decarbonise. The figures reveal pension funds pulling back from China during the back half of 2022, a time when investors across the developed world were reconsidering exposure to a country still subject to strict COVID lockdowns. Aware Super said in a statement it had a "relatively small exposure" to China mostly via external managers.

SYDNEY, March 27 (Reuters) - Australia's lower house on Monday passed an emissions reduction plan with curbs on some new gas and coal investments and a cap on total greenhouse gas emissions from the country's biggest polluters after a key deal with the Greens Party. The updated legislation also requires all new gas projects in the Beetaloo Basin to have net zero carbon emissions and new gas fields supplying existing liquefied natural gas (LNG) plants to have net zero reservoir emissions, imposing new costs. "Today, we are a step closer to achieving net zero by 2050," Energy Minister Chris Bowen said. Under the revised legislation, projects such as the massive Browse field that Woodside Energy (WDS.AX) wants to develop would have to have carbon capture and storage to achieve net zero. The government said it would tip in A$400 million ($266 million) to help the cement, steel and aluminium industries decarbonise.

☆ Big Oil’s old profligacy lives on Down Under
▼ + stars: | 2023-03-15 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

Throw in dividends and Santos shareholders have received a measly 6% total return during that period. Santos’ 15% return on capital employed last year puts it at the bottom of the class; BP delivered almost 25%. It looks slated to stay in the basement, with analysts projecting a sub-8% return for 2025, per Refinitiv data. The bonus is mostly tied to successful “growth projects”, which arguably encourages him to overinvest. If that happens again at next month’s annual meeting, it would, under Australian rules, allow investors to boot the entire board.

☆ Analysis: Investors revive inflation trades as 6% Fed rate risk grips Wall Street
▼ + stars: | 2023-03-07 | by ( Davide Barbuscia | ) www.reuters.com time to read: +5 min

NEW YORK, March 7 (Reuters) - Spooked by a flurry of hotter-than-expected U.S. economic and inflation data last month, investors are reviving trading strategies that bet on a higher peak in interest rates. The recalibration in inflation expectations has led some investors to bet on a policy rate of 6% or even higher. Trading platform Tradeweb said it saw average daily volume in inflation swaps - derivatives used to hedge inflation risk - increase by 23% month-on-month in February. With higher inflation expectations lifting short-term bond yields higher than those at the longer end, some investors are wary of committing to debt maturities at the long end of the bond market yield curve. "The momentum in the economy is so strong that we may have to get into 2024 before the Fed funds rate peaks."

☆ Where New York’s Asian Neighborhoods Shifted to the Right
▼ + stars: | 2023-03-05 | by ( Jason Kao | ) www.nytimes.com time to read: +15 min

In last year’s governor’s election, voters in Asian neighborhoods across New York City sharply increased their support for Republicans. And predominantly Asian areas — precincts with a majority of eligible Asian voters — have undergone a pivotal shift. Detail area Detail area Detail area Detail area Detail area Detail area Note: The precinct in Kensington is mostly Indian and Bangladeshi. Detail area Detail area Detail area Detail area Detail area Detail area Flushing, 2022 Murray Hill Bayside Flushing Northern Blvd. Detail area Detail area Detail area Detail area Detail area Detail area state senate race Bensonhurst Sunset Park McDonald Ave. 65th St. New Utrecht Ave. 8th Ave.

☆ They Wanted a Two-Bedroom in Queens for $500,000 — Dishwasher Optional. Which Option Did They Buy?
▼ + stars: | 2023-03-02 | by ( Joyce Cohen | ) www.nytimes.com time to read: +2 min

Shortly after Covid-19 hit, Michelle de Vera and Serhan Ayhan settled into a one-bedroom in Woodside, Queens. Ms. de Vera, who then worked in the airline industry, had an easy trip via public transportation to the Queens airports. She would spend hours on video calls for work while Mr. Ayhan, 36, clanked in the kitchen and tried to stay out of camera range. Email: thehunt@nytimes.com]Their criteria included a kitchen — with a dishwasher — that was suitable for making dough,, and space for hosting pizza nights. In every apartment they visited, Mr. Ayhan checked to see whether the oven was big enough to accommodate his pizza peel.

☆ Australian Indigenous group steps up campaign to protect sacred rock art
▼ + stars: | 2023-03-02 | by ( Praveen Menon | ) www.reuters.com time to read: +3 min

[1/4] Murujuga indigenous custodians campaign to protect sacred rock art in The Burrup Peninsula, Sydney, Australia July 11, 2022. Save our Songlines/Handout via REUTERSSYDNEY, March 2 (Reuters) - An Australian Indigenous group on Thursday stepped up its campaign against industrial development in Western Australia's Burrup Peninsula, a key gas export hub, saying in a protest in Sydney that planned projects would damage ancient rock art. Australia last month formally nominated the Murujuga Indigenous cultural landscape for a UNESCO World Heritage listing. The Murujuga Aboriginal Corporation, the traditional owners' representative, led the preparation of the World Heritage nomination. Save our Songlines has disagreed with the group over the industrial development and has raised doubts that a World Heritage listing would protect the ancient landscape from industrial damage.

☆ Australian shares hit near 9-month high as energy, tech stocks boost
▼ + stars: | 2023-01-23 | by ( ) www.cnbc.com time to read: +1 min

Members of the Chinese Youth League perform a lion dance for onlookers at Haymarket on Jan. 21, 2023 in Sydney, Australia. Australian shares inched higher on Monday to their highest in nearly nine months, as technology stocks tracked Wall Street's strong finish last week and firm crude oil prices lifted energy stocks. In Australia, energy stocks climbed 0.5% after oil prices settled higher on Friday as economic prospects brightened in China, the world's second-biggest economy. The sub-index hit its highest since Nov. 24 last year, with major oil and gas producers Woodside Energy and Santos gaining 1.2% and 1.5%, respectively. Technology stocks advanced 1.1% to hit a more than one-month high.

☆ George Santos says his mom was in the World Trade Center on 9/11. Records show she wasn't in the U.S.
▼ + stars: | 2023-01-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +3 min

WASHINGTON — Rep. George Santos, R-N.Y., has claimed that his mother was at her office inside the World Trade Center during the 9/11 terror attacks, but records obtained by NBC News on Wednesday show she was living in Brazil at the time. She later applied for re-entry and was re-admitted into the U.S. in 2003, the records show. In 2021, when he was running for Congress, Santos claimed in a reply to an account on Twitter that 9/11 claimed his mother’s life. Calzareth, who’s originally from Nassau County but not Santos’ congressional district, submitted the FOIA requests about Santos’ mother in late December 2022. But House Republicans awarded him slots on two committees after pressure to prevent him from being seated on congressional panels.

☆ Wounded Virginia teacher walked her students to safety after she was shot by 6-year-old, officials say
▼ + stars: | 2023-01-09 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +6 min

The Virginia elementary teacher who police say was intentionally shot by a 6-year-old student is being hailed as a hero who saved lives by escorting her students out of the classroom while wounded. The boy's mother had legally purchased the gun, Drew said. After the shooting, Drew said, police consulted with various agencies including the Commonwealth's Attorney's Office, and services for children's welfare. Police, city and school district officials had not publicly named Zwerner as the teacher who was wounded prior to Monday. “Because of the ongoing nature of the investigation, we will not be releasing any further information at this time.”The 6-year-old student was not identified because of his age.

☆ Virginia school district where 6-year-old allegedly shot teacher has had three school-related shootings in 17 months
▼ + stars: | 2023-01-07 | 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

The Virginia school district where a 6-year-old allegedly intentionally shot a teacher on Friday has had three instances of gun violence on district property in the past 17 months. Newport News Public Schools consists of 26,500 students, and includes three early childhood centers, 24 elementary schools, seven middle schools and five high schools, according to the district's website. Newport News Public Schools Superintendent George Parker III did not immediately respond to requests for comment. Hanan Daoud, who also has children within the school district, agrees. Daoud told NBC News she recalled feeling "paralyzed" after hearing that there had been a shooting in the school district on Friday.

☆ Newcrest CEO Biswas steps down, hunt for new chief underway
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: 1 min

MELBOURNE, Dec 19 (Reuters) - Newcrest Mining Ltd (NCM.AX) Chief Executive Sandeep Biswas will retire from his role at the helm of Australia's largest gold producer, the company said on Monday. Chief Financial Officer Sherry Duhe, who joined the company in February, will step in as interim chief executive while a global internal and external search for a replacement is underway, Newcrest said in a filing to the exchange. Duhe comes from an energy background, having previously worked as CFO of Woodside Energy, and spent 13 years at Shell. Biswas, who will relinquish his role as a managing director as of Monday, will stay on in an advisory capacity until March 18. Our Standards: The Thomson Reuters Trust Principles.

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