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☆ US energy stocks join European peers' rally after surprise oil output cut
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

April 3 (Reuters) - U.S. energy stocks hit an over one-month high on Monday, following a rally in European peers as crude prices rose more than 6% following a surprise announcement by Saudi Arabia and other OPEC+ oil producers to cut production. The S&P 500 energy index (.SPNY) added 4.2%, eying its best day in six months, while the benchmark S&P 500 (.SPX) traded flat. So any amount of oil price incrementally higher from here is very good for margins and it's very good for these stocks." Other oil producers Occidental Petroleum (OXY.N), ConocoPhillips (COP.N), Devon Energy (DVN.N), Marathon Oil (MRO.N) and APA Corp (APA.O) gained between 6.3% and 9.5%. Alastair Syme, head of energy research at Citi, said investors had recently been reducing the weight of energy stocks in their portfolios, and that any move to re-weight would likely benefit most of the largest cap stocks.

☆ In Beijing, Japan’s Foreign Minister Warns Over Russia-China Military Ties
▼ + stars: | 2023-04-02 | by ( Alastair Gale | Austin Ramzy | ) www.wsj.com time to read: 1 min

Japan Foreign Minister Yoshimasa Hayashi, left, discussed a range of issues with Chinese Foreign Minister Qin Gang in Beijing Sunday. TOKYO—Japan’s foreign minister raised concerns in Beijing about increasing Russian and Chinese joint military activity on a day when Tokyo formally opened its closest missile base to China. Foreign Minister Yoshimasa Hayashi told his Chinese counterpart, Qin Gang, that China should play a responsible international role and called for the release of a Japanese citizen detained in China, according to Tokyo’s account of the meeting.

☆ UBS could see big gains after forced Credit Suisse merger. Big U.S. banks may also be winners, analysts say
▼ + stars: | 2023-03-20 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

UBS ' acquisition of Credit Suisse could lead to big gains for the Swiss bank. UBS agreed to buy Credit Suisse for 3 billion Swiss francs, or around $3.2 billion, in a forced deal announced Sunday. As part of the deal, Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold. But Barclays analyst Amit Goel wasn't so sure, cutting his view on European banks to neutral from positive on Monday. Wells Fargo's Mike Mayo, meanwhile, sees opportunity for U.S. banks coming out of the UBS takeover of Credit Suisse.

☆ South Korea’s President Yoon Arrives in Japan for Rare Summit Talks
▼ + stars: | 2023-03-16 | by ( Alastair Gale | Dasl Yoon | ) www.wsj.com time to read: 1 min

South Korean President Yoon Suk Yeol arrived in Tokyo on Thursday. TOKYO—South Korean President Yoon Suk Yeol arrived in Tokyo on Thursday for the first formal summit between the leaders of South Korea and Japan since 2011, with trade and intelligence sharing on the agenda. Mr. Yoon’s visit comes after his administration last week proposed a plan to resolve a standoff over payments for Koreans forced to work for Japanese companies during World War II, one of the most contentious of an array of disputes between two countries.

☆ What analysts are saying about Credit Suisse after 'central bank bazooka' is unleashed
▼ + stars: | 2023-03-16 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Wall Street analysts were split on whether they should buy into Credit Suisse — though they found central bank support of the troubled Swiss firm reassuring. Earlier, the central bank said it would give Credit Suisse liquidity if necessary, saying the firm is well capitalized. On Wednesday, Credit Suisse shares tumbled 13.9% after the firm's largest investor, the Saudi National Bank, said it could not give more funding, driving fears of a banking crisis in Europe. However, following the decision to borrow from the central bank, JPMorgan's Roberto Henriques reiterated an overweight rating on the firm. The analyst expects that the "central bank bazooka" will assuage investors concerned over liquidity issues and give Credit Suisse enough time to roll out a restructuring plan.

☆ BBC engulfed in an impartiality storm of its own making
▼ + stars: | 2023-03-13 | by ( Rob Picheta | ) edition.cnn.com time to read: +12 min

“There is a long-established precedent in the BBC that if you’re an entertainment presenter or you’re a football presenter, then you are not bound by those same rules” on impartiality, former director-general Greg Dyke told BBC Radio 4 over the weekend. BBC Director General Tim Davie has made protecting impartiality one of his major priorities. Oli Scarff/AFP/Getty ImagesMore problematic still is that the same thorny questions about impartiality extend to the BBC’s leadership. “It’s a mess, isn’t it?” former BBC executive Peter Salmon told the cooperation’s flagship political presenter Laura Kuenssberg on Sunday. “He’s got views, he’s got passions … it may be that Gary has outgrown the job, and his role in the BBC.”

☆ South Korea, Japan to Hold First Two-Way Summit Talks in More Than a Decade
▼ + stars: | 2023-03-09 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

Japanese Prime Minister Fumio Kishida, right, greeting South Korean President Yoon Suk Yeol during an Association of Southeast Asian Nations summit in Cambodia last year. TOKYO—South Korean President Yoon Suk Yeol will visit Tokyo for talks with Japanese Prime Minister Fumio Kishida next week, a resumption of two-way summit diplomacy after more than a decade as tensions with North Korea and China drive the U.S. allies to work more closely together. The trip, announced by both sides on Thursday, comes after the South Korean government released a plan earlier this week for paying compensation to Koreans who were forced to work for Japanese companies during World War II. Under the plan, the companies themselves wouldn’t have to pay.

South Koreans who were forced to work for Japanese companies during World War II and their supporters protested a plan to resolve a longstanding dispute over their compensation, casting uncertainty over the ultimate success of a proposal to improve ties between Seoul and Tokyo. On Monday, South Korea’s foreign ministry said a local foundation would offer payments to three people who were sent to work for the companies, as well as 12 families of deceased former workers who had all won court rulings against the firms for compensation. In 2018, South Korea’s Supreme Court upheld the decisions.

In announcing the compensation plan Monday, South Korean Foreign Minister Park Jin called cooperation between South Korea and Japan ‘incredibly important.’A South Korean fund will compensate Koreans forced to work in Japan during World War II, the South Korean government said Monday, part of an arrangement with the Japanese government to resolve differences between the two U.S. allies. The rapprochement boosts U.S. efforts to foster cooperation between its allies to counter China and North Korea.

Japan and South Korea are near an agreement to compensate Koreans forced to work in Japan during World War II, officials said, boosting U.S. efforts to foster cooperation between its allies to counter China and North Korea. Seoul is set to release a plan as early as Monday for a South Korean fund to pay plaintiffs who have won court cases against Japanese companies over forced labor, the officials said. South Korean President Yoon Suk Yeol may later visit Tokyo, they said, although they cautioned that the talks aren’t finished and may still break down.

☆ Chinese Weapons Could Sustain Russia’s War Effort in Ukraine
▼ + stars: | 2023-03-01 | by ( Alastair Gale | Brian Spegele | ) www.wsj.com time to read: 1 min

Military supplies from China would provide Russia with a lifeline in its Ukraine war effort, thanks to the compatibility of Chinese and Russian weapon systems and Beijing’s large military manufacturing base. U.S. officials say China is considering supplying artillery and drones to the Russian military as Moscow’s forces burn through ammunition and suffer from shortages of critical equipment. China denies it is contemplating such action and has, in turn, pointed a finger at the U.S. and its allies for fueling the conflict by providing Ukraine with weapons.

☆ Chinese Jet Fighter Shadows U.S. Aircraft Over South China Sea
▼ + stars: | 2023-02-24 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

ABOARD A U.S. PATROL AIRCRAFT—A Chinese J-11 jet fighter, armed with four air-to-air missiles, appeared at the rear of an American P-8 patrol aircraft, passed above and settled a few hundred feet from the wing of the U.S. Navy plane. “American aircraft, this is the PLA air force. You are approaching Chinese airspace. Keep a safe distance or you will be intercepted,” a Chinese military ground station broadcast to the P-8, using the abbreviation for the People’s Liberation Army.

☆ Chinese Jet Fighters Step Up Pressure on U.S. Aircraft Over South China Sea
▼ + stars: | 2023-02-24 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

A Chinese air force fighter flies close to a U.S. Navy surveillance aircraft over the South China Sea on Friday. ABOARD A U.S. PATROL AIRCRAFT—A Chinese J-11 jet fighter, armed with four air-to-air missiles, appeared at the rear of an American P-8 patrol aircraft, passed above and settled a few hundred feet from the wing of the U.S. Navy plane. “American aircraft, this is the PLA air force. You are approaching Chinese airspace. Keep a safe distance or you will be intercepted,” a Chinese military ground station broadcast to the P-8, using the abbreviation for the People’s Liberation Army.

☆ Dr. Seuss holiday favorite 'How the Grinch Stole Christmas!' is getting a sequel this fall — more than 60 years after the original was published
▼ + stars: | 2023-02-23 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

The holiday classic "How the Grinch Stole Christmas!" Random House and Dr. Seuss Enterprises announced the follow up, slated for September. The story is the latest in a list of titles published under Theodor "Dr. Seuss" Geisel's name since his death in 1991. is set a year after the original story ends, Random House Children's Books and Dr. Seuss Enterprises announced Thursday. Alice Jonaitis, executive editor of Dr. Seuss Publishing, said in a statement.

☆ Buy these 40 overlooked stocks offering top-tier dividend payouts that will hedge against underrated recession risk, UBS says
▼ + stars: | 2023-02-23 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

But UBS is still calling for a recession, which should cause more defensive quality dividend stocks to outperform. UBSLastly, UBS expects dividend growth to exceed earnings growth in 2023. Dividend growth (in gold) has historically been much less volatile than earnings growth (in blue). UBS40 high-quality dividend stocks to buyIn this environment, investors would be wise to pursue quality within dividend stocks. Below are the 40 high-quality dividend stocks to buy along with the ticker, market capitalization, sector, and expected 2023 dividend yield for each, according to UBS.

☆ UBS likes these high-quality dividend stocks to weather a downturn
▼ + stars: | 2023-02-22 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

UBS screened the S & P 1,500 for stocks that have a forward dividend of more than 2% and strong relative dividend growth expectations over the next six months. Here are eight stocks that made UBS' list. Discover Financial made the list, with a forward dividend of 2.2%. The name with the highest forward dividend yield on the list is billboard operator Lamar Advertising at 4.67%. Other names that made UBS' list include PepsiCo , Qualcomm , Broadcom , Ralph Lauren and ConocoPhillips .

☆ U.S.’s Asia Allies See New Threat From Balloons Amid China Spying Row
▼ + stars: | 2023-02-14 | by ( Alastair Gale | Joyu Wang | ) www.wsj.com time to read: 1 min

America’s allies in Asia are raising their vigilance against high-altitude balloons after Washington accused Beijing of using them in a global spying program, ending years in which unannounced incursions by balloons have largely been tolerated in the region. Balloons of undeclared origin are seen each year around the Asia-Pacific region. One military officer in Taiwan with access to daily intelligence reports said suspected Chinese balloons are spotted by Taipei roughly once every quarter, mostly over Taiwan’s outlying islands near the Chinese coast.

☆ China’s Fleet of Balloons Prove Hard to Detect as They Survey the World
▼ + stars: | 2023-02-09 | by ( Alastair Gale | Michael R. Gordon | ) www.wsj.com time to read: 1 min

China has operated a fleet of high-altitude balloons, like the one shot down by the Air Force, to carry out surveillance on five continents, the Biden administration said, as it tries to bring international attention to the scope of the Chinese program. Administration officials embarked on a series of briefings about the balloon with allies and partners, officials said. Those briefings draw on “what we’ve learned based on our careful observation of the system when it was in our airspace,” Secretary of State Antony Blinken said Wednesday.

☆ Nick Clegg led Meta's decision to reinstate Trump to Facebook and Instagram. Here's how the former UK deputy prime minister charmed his way into Mark Zuckerberg's inner circle.
▼ + stars: | 2023-01-26 | by ( Philip Webster | ) www.businessinsider.com time to read: +18 min

Nick Clegg has risen quickly to become one of Mark Zuckerberg's closest confidants at Meta. Clegg, a former UK deputy prime minister, led the decision to reinstate Donald Trump to Facebook. It was updated on February 16, 2022 following the news that Nick Clegg had been promoted to the role of President for Global Affairs. In a challenging economic climate, the Lib Dems and their Conservative coalition partners voted to raise tuition fees. Nick Clegg (left) and Chris Huhne appearing on the BBC's "The Andrew Marr Show" in October 2007.

☆ Big U.S. banks continue to add jobs as Goldman Sachs cuts staff
▼ + stars: | 2023-01-14 | by ( ) www.cnbc.com time to read: +3 min

The chief financial officers of the two biggest U.S. banks said they would hire selectively despite waning economic growth. JPMorgan's Chief Financial Officer Jeremy Barnum said the bank is still hiring and "in growth mode" in a call with journalists to discuss the bank's fourth-quarter earnings. Bank of America also continues to hire, particularly in wealth management, while also remaining disciplined on its expenses, Chief Financial Officer Alastair Borthwick told reporters on Friday. Citigroup Inc's Chief Financial Officer Mark Mason told an earnings briefing "we're actively hiring to execute against our strategy. The banking giants stood by their hiring plans even as other lenders cut staffing in investment banking and mortgages.

[1/4] A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. The chief financial officers of the two biggest U.S. banks said they would hire selectively despite waning economic growth. JPMorgan's (JPM.N) Chief Financial Officer Jeremy Barnum said the bank is still hiring and "in growth mode" in a call with journalists to discuss the bank's fourth-quarter earnings. Bank of America (BAC.N) also continues to hire, particularly in wealth management, while also remaining disciplined on its expenses, Chief Financial Officer Alastair Borthwick told reporters on Friday. The banking giants stood by their hiring plans even as other lenders cut staffing in investment banking and mortgages.

☆ Wall Street banks stockpile funds for possible recession, show resilience
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Jeenah Moon/File Photo/File PhotoNEW YORK, Jan 13 (Reuters) - Wall Street's biggest banks stockpiled more rainy-day funds to prepare for a possible recession ahead and reported weak investment banking results, but said consumers remained healthy and higher rates boosted profits. Strength in trading helped offset a slump in investment banking, while interest rate hikes by the U.S. Federal Reserve helped income. However, Citigroup Inc (C.N) reported a 21% fall in profits with investment banking taking a hit. Global investment banking revenue sank to $15.3 billion in the fourth quarter, down more than 50% from a year-earlier quarter, according to data from Dealogic. Bank of America's investment banking fees more than halved in the quarter.

☆ Asia, Europe Look to Collective Action to Restrain China
▼ + stars: | 2023-01-12 | by ( Alastair Gale | Chieko Tsuneoka | ) www.wsj.com time to read: 1 min

TOKYO—Democracies in Asia that rely on the backstop of U.S. military power for their prosperity are confronting a new reality: American protection is no longer enough now that China rivals the U.S. in areas such as advanced missiles and naval hardware. To tackle the problem, Beijing’s neighbors, with prodding from the U.S. and help from Europe, are building a network of regional security ties with a goal similar to that of the North Atlantic Treaty Organization: deterring a large nation whose growing ambitions have raised the prospect of conflict.

☆ Japan to Spend Billions on U.S. Tomahawk Missiles in Military Buildup
▼ + stars: | 2022-12-23 | by ( Alastair Gale | Chieko Tsuneoka | ) www.wsj.com time to read: 1 min

A file photo showing the USS Preble conducting an operational Tomahawk missile launch in a training area off the coast of California. TOKYO—Japan earmarked more than $2 billion to buy and deploy U.S. Tomahawk missiles on its naval destroyers, enough for several hundred of the weapons as it seeks to deter China and North Korea. The spending is part of a record defense budget approved by the cabinet Friday equivalent to $51.4 billion for the fiscal year starting in April. Tokyo last week signaled one of its biggest military buildups since the end of World War II with plans to nearly double defense spending over the next five years.

A spokesperson for the Washington Post, which Bezos bought in 2013 for $250 million, said it is not for sale. "A Bloomberg acquisition of the (Post) is not necessarily just a business decision. According to Axios, Bloomberg sees Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Bezos was interested in selling. Dow Jones did not immediately respond to Reuters' request for comment. Reuters competes with Dow Jones and Bloomberg News, a unit of Bloomberg L.P., a provider of financial news.

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