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☆ Bitcoin and other cryptocurrencies tumble amid Middle East tensions
▼ + stars: | 2024-04-14 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

Bitcoin had been trading at around $70,000 on Saturday evening but plunged to below $62,000, according to data from the Bitstamp exchange. Bitcoin was down some 8% late on Saturday evening as U.S. officials confirmed the attack was taking place. The cryptocurrency market suffered heavy selling overnight Saturday amid an unprecedented Iranian drone and missile attack on Israel. In the Middle East, events overnight marked the first instance of a direct attack on Israel from Iranian territory. The deluge of drones and missiles on Israel was reportedly in response to a suspected Israeli strike that killed top Iranian officials in Syria.

Persons: Bitcoin, bitcoin, —, Ruxandra Iordache Organizations: Bloomberg, Tel, Tel Aviv Stock, TA Locations: Israel, Syria, Tel Aviv, London

☆ The West urges China to intervene with Iran amid fears of a direct attack on Israel
▼ + stars: | 2024-04-12 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Iranians attend a funeral procession in Tehran, held for seven Islamic Revolutionary Guard Corps members killed in a strike in Syria. Western diplomats have mounted pressure on China to prevent Iran from escalating tensions in the Middle East with a direct retaliatory strike against Israel. U.S. Secretary Antony Blinken earlier this week spoke with Chinese Foreign Minister Wang Yi and other counterparts in Turkey and Saudi Arabia amid rising fears of retaliation by Tehran against Israel. Beijing is a critical trade partner of Russia and Iran as one of the last recipients of their oil exports. The three countries are also members of the China-led BRICS coalition of emerging markets.

Persons: Antony Blinken, Wang Yi, Blinken, Matthew Miller, it's, Olaf Scholz Organizations: Islamic Revolutionary Guard Corps, Israel, U.S, Chinese Foreign, U.S . State, BRICS Locations: Tehran, Syria, China, Iran, Turkey, Saudi Arabia, Israel, U.S, Germany, Beijing, Russia

U.S. Treasury Secretary Janet Yellen on Monday said she would not rule out any measures, including potential tariffs, on China's green energy exports. "I wouldn't rule out anything out at this point. "I'm not thinking so much of export restrictions, as some shifts in their macroeconomic policy, and a reduction in the amount of, particularly local government subsidies, to firms," Yellen said. Washington's anxiety is shared by U.S. allies including Japan and Europe, as a glut of cheap Chinese products, such as solar panels, has flooded their markets. "It's fine for China's firms to export in this industry, to develop it.

Persons: Janet Yellen, CNBC's Sara Eisen, Yellen, White, they're Organizations: Treasury Locations: Washington, China, Beijing, Guangzhou, U.S, Japan, Europe

☆ Russia-Ukraine war live updates: Moscow reports concert terror attack link to Kyiv; Zelenskyy says Ukraine stabilized battle positions
▼ + stars: | 2024-04-05 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Ukraine's President Volodymyr Zelensky looks on during a press conference with French President at the presidential Elysee palace in Paris on February 16, 2024, after signing a bilateral security agreement. Ukraine has managed to "stabilize" its positions on the home battlefield, in "all those areas of the front where the Russian army expected to succeed at the moment," Ukrainian Volodymyr Zelenskyy said in his nightly address. Zelenskyy separately acknowledged four people were killed in Kharkiv in northeastern Ukraine on Thursday, following a Russian strike with an Iranian-make "Shahed" drone on a residential area. The toll included three rescuers from Ukraine's state emergency service. The Kyiv leader added he has spoken with the military to bolster air defense for Kharkiv, Sumy and the country's southern regions.

Persons: Volodymyr Zelensky, Volodymyr Zelenskyy, Zelenskyy Organizations: French Locations: Paris, Ukraine, Kharkiv, Russian, Iranian, Sumy

☆ Major bridge in Baltimore collapses after ship collision
▼ + stars: | 2024-03-26 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

The Francis Scott Key Bridge is shown in this view from Rosslyn, Virginia, in 2016. The Francis Scott Key Bridge partially collapsed in the early hours of Tuesday morning following a ship collision, local authorities said. "I-695 Key Bridge collapse due to ship strike. The 47-year-old 1.6-mile Francis Scott Key bridge, colloquially known as the Key Bridge, spans the Potomac River, linking Georgetown in the District of Columbia with Arlington County, Virginia. "I'm aware of and en route to the incident at the Key Bridge.

Persons: Francis Scott Key, Glenn Kukucka, Wallace, @GovWesMoore @JohnnyOJr, Baltimore Mayor Brandon M, Scott Organizations: Baltimore City, Maryland Transportation Authority, Baltimore Fire Department Battalion, CNBC, District of Columbia, U.S . Coast Guard, Baltimore Mayor Locations: Rosslyn , Virginia, Maryland, Georgetown, District, Arlington County , Virginia, U.S

☆ Republican lawmakers say green transition 'cheerleader' IEA has strayed from mandate
▼ + stars: | 2024-03-22 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Nick Oxford | ReutersSenior U.S. lawmakers believe the International Energy Agency has "strayed from its core mission" of safeguarding energy security and has emerged as a "cheerleader" for the green transition. "We would argue that in recent years the IEA has been undermining energy security by discouraging sufficient investment in energy supplies — specifically, oil, natural gas, and coal. Consequently, the IEA must conduct its energy security mission in an objective manner. "It should disturb you that biased parties are exploiting the IEA's forecasts and other products to advocate for policies that undermine energy security." The IEA on Thursday confirmed receipt of the letter to CNBC and stressed that its mandate remains maintaining energy security and accelerating clean energy transitions.

Persons: Nick Oxford, Republican Sen, John Barrasso, Cathy McMorris Rodgers, Fatih Birol Organizations: Midland , Texas U.S, Reuters Senior U.S, International Energy Agency, Republican, U.S ., Energy, Natural Resources, U.S . House, Commerce, IEA, U.S, CNBC, U.S . Congress, Organization of, Petroleum, OPEC, Congress Locations: Midland , Texas, Wyoming, Saudi Arabia

☆ Switzerland becomes first major economy to cut interest rates in surprise move
▼ + stars: | 2024-03-21 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

The Swiss national flag hangs from the Federal Palace, Switzerland's parliament building, in Bern, Switzerland, on Thursday, Dec. 13, 2018. The Swiss National Bank cut its inflation forecast and showed no inclination of moving off its crisis-era settings, citing the francs strength and mounting global risks. Economists polled by Reuters had expected the Swiss central bank to hold rates at 1.75%. According to the new forecast, inflation is also likely to remain in this range over the next few years," the bank said. Swiss inflation continued to fall in February, hitting 1.2%.

Persons: Stefan Wermuth, Thomas Jordan, SNB Organizations: Swiss, Swiss National Bank, Bloomberg, Getty, Reuters, Capital Economics, Bank, Capital Locations: Switzerland's, Bern, Switzerland, Swiss

☆ Macron doubles down on possible NATO deployment in Ukraine ahead of talks to bridge rift with Germany
▼ + stars: | 2024-03-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

A photo of a television screen shows French President Emmanuel Macron during a televised address to the nation, made from the Elysee Palace, after signing into law a pensions reform, in Paris, on April 17, 2023. French President Emmanuel Macron has doubled down on the possibility of sending troops into Ukraine, a day before a key summit with Germany, which is staunchly opposed to the idea. The latest statements by Macron once again risk pitting him against NATO allies, who distanced themselves from the possibility of their own national military deployment in Ukraine in February. Foreign volunteers have assisted both Russia and Ukraine in the war so far, but not as part of any formal military deployment. Macron on Friday is meeting with German Chancellor Olaf Scholz in Berlin for talks that many hope could silence simmering tensions over Ukraine.

Persons: Emmanuel Macron, Macron, Dmitry Peskov, Jens Stoltenberg, Olaf Scholz, Donald Tusk, Scholz, Tusk, Andrezj Duda, Joe Biden Organizations: TF1, NATO, French, CNBC, Google, Foreign, Leopard, Taurus Locations: Elysee, Paris, Ukraine, Germany, France, Russia, Europe, Berlin, Polish, Weimar, Kyiv

Just_super | E+ | Getty ImagesThe European Union's parliament on Wednesday endorsed the world's first major set of regulatory ground rules to govern the mediatized artificial intelligence at the forefront of tech investment. President of the European Parliament, Roberta Metsola, described the act as trail-blazing, saying it would enable innovation, while safeguarding fundamental rights. "Artificial intelligence is already very much part of our daily lives. Born in 2021, the EU AI Act divides the technology into categories of risk, ranging from "unacceptable" — which would see the technology banned — to high, medium and low hazard. "The AI Act is not the end of the journey, but, rather, the starting point for a new model of governance built around technology.

Persons: Thierry Breton, Roberta Metsola, Dragos, Tudorache Organizations: Intelligence, Wednesday, EU, European, Union, Digital Markets, — U.S, Apple, Meta, Microsoft, Google, Nvidia Locations: Europe, Germany, France, U.S, India

☆ India says its citizens were 'duped' to serve in the Russian army. Now it wants them back
▼ + stars: | 2024-03-08 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

India is seeking the release of its nationals who have been "duped" into serving in the Russian army, a spokesperson for the Indian Ministry of External Affairs said Friday, in a rare rift from Moscow. "Several Indian nationals have been duped to work with the Russian army. He appealed to Indian nationals to "not be swayed by offers made by agents for support jobs with the Russian army. "It has been ascertained that some of these victims also got grievously injured in the war zone," the agency said. It comes amid a domestic labour crisis that has incentivized Indian nationals to seek jobs abroad.

Persons: Randhir Jaiswal Organizations: Indian Ministry, External Affairs, Indian, Central Bureau of, CBI, Centre, Monitoring Locations: India, Russian, Moscow, Delhi, Russia, Ukraine

☆ Three dead in first fatal Houthi attack in the Red Sea
▼ + stars: | 2024-03-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Three people were killed in a Houthi attack against a civilian merchant ship, U.S. authorities said, marking the first lives claimed since the Iran-backed militant group began targeting the Red Sea shipping route at the end of last year. "With great sadness, the Department of Migrant Workers (DMW) confirms the deaths of two Filipino seafarers in the most recent attack by Houthi rebels on ships plying the Red Sea and the Gulf of Aden," it said, withholding their names and identities. This is the first fatal Houthi attack since the group started maritime offensives against vessels transiting through the key Red Sea route that accounts for 12% of global traffic. On Saturday, the Belize-flagged general cargo ship Rubymar became the first casualty to sink in the Red Sea, after drifting abandoned at sea following a Houthi attack mid-February. In a separate incident earlier this week, four key telecommunications cables in the Red Sea were severed.

Persons: Centcom, Houthi, Yahya Sare'e, Rubymar Organizations: Red, U.S . Central Command, Liberian, Philippines Department of Migrant Workers, Department of Migrant Workers, Yemeni, Maritime Trade Operations, Yemeni Armed Forces, CNBC, Hamas, —, HGC Communications Locations: Iran, Barbados, Gulf, Aden, Gaza, Israel, U.S, Belize, Red

☆ Ship damaged offshore Yemen, days after a Houthi-struck vessel sank in the Red Sea
▼ + stars: | 2024-03-06 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

A merchant vessel was hit and took damage offshore of Yemen, the U.K. Maritime Trade Operations said Wednesday, days after a ship struck by Iran-backed Houthis sank in the Red Sea. The UKMTO said that the incident took place 54 nautical miles southwest of Aden, adding that the merchant vessel "suffered damage" and was being assisted by international coalition forces active regionally. Earlier, the UKMTO reported that the merchant vessel was hailed for 30 minutes by an entity declaring itself to be the "Yemeni Navy," before the ship was instructed to alter course. Vessels in the vicinity reported "a large bang, and a plume of smoke sighted," according to the UKMTO. CNBC could not independently confirm the incident or the flag and ownership of the impaired vessel.

Persons: Houthis Organizations: Maritime Trade Operations, Yemeni Navy, CNBC, U.S . Central Command Locations: Yemen, Iran, Red, Aden, Barbados, U.S, Belize

☆ Saudi Arabia, Russia and several OPEC+ producers extend voluntary crude supply cuts until end of June
▼ + stars: | 2024-03-03 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023Heavyweights Saudi Arabia and Russia, alongside several other key OPEC+ producers, will extend their voluntary crude supply cuts until the end of the second quarter. Saudi Arabia will stretch out its voluntary crude production cut of 1 million barrels per day until the end of the second quarter, the state-owned Saudi Press Agency said Sunday, citing an official source from the country's Ministry of Energy. Riyadh's crude production will be approximately 9 million barrels per day until the end of June, the announcement said. Back in November, OPEC+ countries had held a formal policy of collectively reducing their output by 2 million barrels per day until the end of 2024. Unlike formal policy changes, voluntary cuts do not require the group's unanimous consent during an official meeting and bypass the need to distribute production cuts or increases among OPEC+ members.

Persons: Energy Prince Abdulaziz bin Salman al, Saud, Alexander Novak, —, Prince Abdulaziz bin Salman Organizations: Saudi, Energy, OPEC, Organization for, Petroleum, Saudi Press Agency, country's Ministry of Energy, Tass, Moscow, Google, INA, Hamas, Saudi Energy Locations: Vienna, Saudi Arabia, Russia, OPEC, Riyadh, Moscow, Russian, Iraq, UAE, Iran, Gaza, China, Aramco

☆ Disney and Reliance to merge media businesses in India in $8.5 billion joint venture
▼ + stars: | 2024-02-28 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: 1 min

Entertainment titan Walt Disney and Indian conglomerate Reliance will merge their Indian businesses, the U.S. entertainment giant announced Wednesday. The companies will be combining their respective Star India and Viacom18 units into the newly-created Star India joint venture, valued at roughly $ 8.5 billion on a post-money basis, excluding synergies. Following the completion of the transaction, Reliance, led by Asia's richest man Mukesh Ambani, will control the JV and inject $1.4 billion into its growth strategy. The ownership structure will comprise of a 16.38% interest for Reliance, 46.82% for Ambani's Viacom18 and 36.84% for Disney. Ambani's wife, Nita Ambani will chair the joint venture, while Viacom18 board member Uday Shankar will serve as vice chairperson.

Persons: Walt Disney, Mukesh Ambani, Ambani's, Nita Ambani, Uday Shankar Organizations: Reliance, Star India, Asia's, JV, Disney Locations: U.S

☆ Abandoned at sea, Houthi-damaged ship awaits towing to Saudi Arabia amid oil slick concerns
▼ + stars: | 2024-02-28 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

A vessel impaired in a mid-February Houthi attack offshore Yemen remains abandoned at sea awaiting towing to safe harbor amid growing concerns of an oil spill. The Iran-backed militant group claimed it dealt "catastrophic damage" during a Feb. 18 offensive against the Belize-flagged general cargo vessel Rubymar, which the Houthis said was "at risk of potential sinking in the Gulf of Aden." The attack caused "an 18-mile oil slick," the U.S. Central Command said in a social media update on Feb. 24, adding that the tanker is anchored, but taking on water. "The M/V Rubymar was transporting over 41,000 tons of fertilizer when it was attacked, which could spill into the Red Sea and worsen this environmental disaster," Centcom said. Khoury added that, as the Rubymar's crew has deserted the ship, his company has no information on the status of a possible oil leak.

Persons: Houthis, Centcom, Roy Khoury, Khoury Organizations: U.S . Central Command, Blue Fleet Group, CNBC, U.S . Locations: Yemen, Iran, Belize, Gulf, Aden, Saudi, Jeddah, Djibouti, U.S

☆ Netanyahu's first post-war plan seeks security buffer in Gaza — in blow to U.S. diplomacy
▼ + stars: | 2024-02-23 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Israeli Prime Minister Benjamin Netanyahu looks on as the US Secretary of State gives statements to the media inside The Kirya, which houses the Israeli Defence Ministry, after their meeting in Tel Aviv on October 12, 2023. He is expected to visit Israeli Prime Minister Benjamin Netanyahu as Washington closes ranks with its ally that has launched a withering air campaign against Hamas militants in the Gaza Strip. Israeli Prime Minister Benjamin Netanyahu disclosed his first official plan for the post-war future of the Gaza Strip, calling for Israel's ongoing military presence in the enclave and for the preservation of a security buffer zone — a step antithetical to the wishes of closely-allied Washington. In the intermediate term, Israel wishes to "maintain its operational freedom of action in the entire Gaza Strip, without a time limit," as well as to retain a security buffer within the besieged territory. "The security perimeter being created in the Gaza Strip on the border with Israel will remain as long as there is a security need for it," the document says.

Persons: Benjamin Netanyahu, Blinken, Netanyahu, Israel, Matt Miller, Israel — Organizations: Israeli Defence Ministry, Washington, Hamas, NBC News, Gaza, U.S . State Locations: Tel Aviv, Israel, AFP, Gaza, Washington, Palestinian, U.S, Egypt

☆ China tightens reins on quant trading after three-day ban on fund
▼ + stars: | 2024-02-21 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

China is tightening regulatory restrictions on its rapidly booming quant trading industry, after freezing the accounts of a major player in the sector for three days in a rare crackdown. The stock exchanges of key financial hubs Shanghai and Shenzhen issued notices late Tuesday announcing they will deepen their scrutiny of market trades conducted by quant funds — which use advanced computer-driven automated analysis and algorithms to catch opportunities in stocks and commodities — especially of leveraged quantitative products, according to separate Google-translated statements. The bourses will strengthen and expand the scope of reporting of such trades and improve the monitoring standards for "abnormal" transactions. The Shenzhen stock exchange also noted that "quantitative trading, especially high-frequency trading, has obvious technical, information and speed advantages over small and medium-sized investors." The announcements come after both exchanges implemented a three-day trading ban on one of China's largest quant funds, Lingjun Investment, which the Shanghai bourse accused of "affecting the security of the Exchange's system or normal trading order" with a flurry of transactions executed between 09:30 a.m. and 09:31 a.m. local time, according to a Google-translated statement.

Organizations: Lingjun, Shanghai bourse Locations: China, Shanghai, Shenzhen

☆ Houthis claim 'catastrophic' attack in Red Sea that prompted crew to abandon ship
▼ + stars: | 2024-02-19 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

The Iran-backed Houthi militant group on Sunday damaged a ship offshore Yemen, prompting its crew to abandon the vessel in the latest escalation of maritime tensions that have disrupted key trade routes in the Red Sea. Houthi militants later claimed the attack, with spokesperson Yahya Sare'e identifying the vessel as general cargo ship Rubymar and describing it as British. "The ship suffered catastrophic damage and came to a complete halt," Houthi Spokesperson Sare'e said. The hostilities have also prompted armed exchanges between Houthis and British and American forces, which have previously struck at Yemeni targets in a bid to improve maritime security. Sare'e said that the Houthis on Sunday also shot down a U.S. drone in Hodeidah.

Persons: Yahya Sare'e, Sare'e, Ice Brent, Nymex WTI Organizations: Maritime Trade Operations, CNBC, Global, Djiboutian Navy, Hamas, Maersk, Ice, U.S . Central Command, U.S . Navy, Ambrey Analytics Locations: Iran, Yemen, Red, Belize, British, U.S, Saudi, Khair, Varna, Bulgaria, Gulf, Aden, London, Gaza, Danish, Good Hope, Houthis, ., Houthi, Greece, Yemen's

☆ Jailed Putin foe Alexei Navalny confirmed dead with family calling for body to be returned
▼ + stars: | 2024-02-17 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

A photo of Alexei Navalny and candles are seen in front of the Russian consulate in Krakow, Poland on February 16, 2024. A spokesperson for Putin dissident Alexei Navalny confirmed his death on Saturday, after Russian media reported his demise on Friday, citing the prison service of the Yamalo-Nenets region where he was imprisoned. On Friday, the IC had said on Telegram that it is organizing a procedural check into Navalny's demise, in a Google-translated post. "We demand that Alexey Navalny's body be handed over to his family immediately," Yarmysh said Saturday. Navalny's demise and Moscow's ongoing full-fledged invasion of Ukraine, soon to observe its second year later this month, have dominated conversations at the Munich Security Conference this weekend.

Persons: Alexei Navalny, Kira Yarmysh, Yarmysh, Alexey Navalny's, Navalny, Vladimir Putin, Putin's, Putin, Volodymyr Zelenskyy Organizations: Russia, Munich Security, MSC Locations: Russian, Krakow, Poland, Salekhard, Russia, Ukraine

☆ Russia's Putin says he prefers 'more predictable' Biden over Trump in U.S. election
▼ + stars: | 2024-02-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Russian President Vladimir Putin said he preferred Joe Biden as the next U.S. president over Republican frontrunner Donald Trump, who fell under intense scrutiny for his relationship with the Kremlin during his presidency. The Trump and Biden presidential campaigns did not immediately respond to CNBC's requests for comment. Referencing their meeting in Geneva, Switzerland, in 2021, Putin said he had noticed no signs of incapacity from Biden. Despite these apparently favorable comments, Putin stressed ongoing disagreement with Biden's politics, saying "the incumbent administration's approach is most harmful and erroneous." Trump was probed during a nearly two-year special counsel investigation of Russian interference in the election that he won.

Persons: Vladimir Putin, Joe Biden, Donald Trump, Biden, Putin, Pavel Zarubin, Trump, Robert Hur, —, Jens Stoltenberg Organizations: White, Kremlin, Biden, U.S, Democrats, Republicans, of Justice, House, NATO, Republican, Democrat, Senate, Taiwan — Locations: Washington , U.S, America, Ukraine, Russia, Geneva, Switzerland, Kyiv, Moscow, China, Iran, South Carolina, Russian, Israel, Taiwan

☆ NATO chief concedes 'valid point' of spending criticism as allies up defense budgets
▼ + stars: | 2024-02-14 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

NATO Secretary General Jens Stoltenberg speaks during a press conference on the third day of the International Monetary Fund and World Bank annual meeting, in Marrakech, Morocco, October 11, 2023. NATO Secretary General Jens Stoltenberg conceded to criticism that some members have been underfinancing the coalition's defense budget, saying he expects a record 18 allies to meet their military spending goal this year. "The criticism that you hear is not primarily about NATO, it's about NATO allies not spending enough on NATO. And that's a valid point," Stoltenberg said during a press briefing on Wednesday, in response to a question on whether Trump's comments aligned with the broader views of Republican officials that the NATO chief has engaged. "The good news is that this is exactly what NATO allies are now doing."

Persons: Jens Stoltenberg, Donald Trump, Stoltenberg, " Stoltenberg Organizations: NATO, International Monetary Fund, Bank Locations: Marrakech, Morocco, Canada

☆ Saudi energy minister pins Aramco's oil capacity halt on green transition
▼ + stars: | 2024-02-12 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. And transitioning means that even our oil company, which used to be an oil company, became a hydrocarbon company. The Saudi energy minister on Monday qualified the decision was not made hastily and was the product of a continuous review of market conditions. "Why should we be the last country to hold energy capacity, or emergency capacity, when it is not appreciated? the Saudi energy minister said.

Persons: Abdulaziz bin Salman Organizations: Bloomberg, Getty, Aramco, Energy, International Petroleum Technology, Monday, of, Petroleum Locations: Aramco, Saudi, Dhahran, Saudi Arabia, Riyadh, Moscow

☆ Putin hints at swapping detained Wall Street Journal reporter for Russian prisoner
▼ + stars: | 2024-02-09 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Russian President Vladimir Putin on Thursday said "an agreement can be reached" over the release of detained Wall Street Journal reporter Evan Gershkovich, signaling he is open to an exchange for a Russian prisoner serving time in Germany. "At the end of the day, it does not make any sense to keep [Gershkovich] in prison in Russia. We want the U.S. Special Services to think about how they can contribute to achieving the goals our special services are pursuing. We are ready to talk," Putin said, repeatedly indicating that negotiations over the journalist's future were underway. The Wall Street Journal strongly denies the charges of espionage levied against Gershkovich, a Russia correspondent at the paper, and says he was in Yekaterinburg on a legitimate reporting trip before he was imprisoned in March 2023.

Persons: Evan Gershkovich, Vladimir Putin, Putin's, Tucker Carlson, Putin, Vadim Krasikov, Zelimkhan Organizations: Street, Fox News, Kremlin, Russian Federation, U.S . Special Services, Gershkovich Locations: Russia, Lefortovsky, Moscow, Germany, Ukraine, U.S, Russian, Chechen, Berlin, Yekaterinburg

☆ China appoints 'Broker Butcher' Wu Qing as new chairman of securities regulator
▼ + stars: | 2024-02-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

BEIJNG, CHINA - NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images)China's cabinet on Wednesday appointed markets veteran Wu Qing as chairman of the China Securities Regulatory Commission, state media Xinhua said, replacing Yi Huiman to navigate Beijing through the turbulent waters of a market downturn. Nicknamed the "Broker Butcher" for his crackdown on traders, Wu was previously the acting vice mayor of China's major financial hub Shanghai and served nearly two years as chairman of the Shanghai Stock Exchange. His predecessor Yi took the mantle of the CRSC in 2019, tasked to undertake a spate of sweeping capital markets reforms. Wu's appointment comes on the footsteps of the CSRC over the past two weeks announcing new supportive policies to stabilize and revitalize China's stricken stock market, which has become a casualty of volatility in the property sector and widespread investor pessimism over the outlook for the world's second-largest economy.

Persons: Gao Zehong, Wu Qing, Yi Huiman, Wu, Yi Organizations: Getty, China Securities Regulatory Commission, Xinhua, Shanghai Stock Exchange Locations: BEIJNG, CHINA, Beijing, China, Shanghai

Valvoline had last year decided to separate its retail services and global products divisions following a strategic review. Saudi Arabia's state-controlled Aramco on Tuesday announced it is pausing plans to raise its crude production capacity from 12 million barrels per day to 13 million barrels per day. At 7 a.m. London time, Brent crude prices for March delivery were up 0.24% from previous close price at $82.60 per barrel. The Tuesday announcement comes amid mounting concerns over the outlook for oil demand worldwide, given a progressing global transition toward decarbonization that casts a shadow over long-term investment projects in fossil fuels. Global oil demand is projected to have risen by 2.3 million barrels per day in 2023 to 101.7 million barrels per day, according to the International Energy Agency's annual report published in December.

Persons: Valvoline, Brent Organizations: Saudi Ministry of Energy, Aramco, International Energy Locations: Saudi Arabia's, Aramco, London

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