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☆ Red Sea risk to oil 'very real,' prices could change rapidly if supply disrupted, Chevron CEO says
▼ + stars: | 2024-01-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The Chevron CEO said he was surprised that U.S. crude oil was trading below $73 a barrel because the "risks are very real." Shell suspends Red Sea shipmentsThe British oil major Shell has suspended shipments through the Red Sea, people familiar with the matter told The Wall Street Journal Tuesday. Shell's decision to halt shipments through the crucial trade chokepoint comes about a month after BP paused transits through the Red Sea. Several major tanker companies, which transport petroleum products such as gasoline as well as crude oil, halted traffic toward the Red Sea on Friday. The militants on Tuesday launched an antiship ballistic missile that struck a Maltese-flagged bulk carrier in the Red Sea, according to U.S. Central Command.

Persons: Michael Wirth, " Wirth, Wirth, Shell, Houthi, CENTCOM, Sullivan Organizations: Chevron, CNBC, Economic, U.S, Navy's, Shell, Red, Wall, BP, Tuesday, U.S . Central Command Locations: East, Davos, Switzerland, Yemen, Iran, Red, Gaza, The U.S, Britain, Maltese, U.S

☆ Houthi attacks rocking Red Sea trade routes likely won't end anytime soon. Here's what could happen next
▼ + stars: | 2023-12-21 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Houthi military helicopter flies over the Galaxy Leader cargo ship in the Red Sea in this photo released on Nov. 20, 2023. Houthi Military Media | Via ReutersDrone and missile attacks by Yemen-based Houthi militants have upended shipping through the Red Sea and Suez Canal, a narrow waterway through which some 10% of the world's trade sails. And will a U.S.-led naval security coalition be effective enough to make the Red Sea trade routes safe for trade again? Zoom In Icon Arrows pointing outwards An infographic titled 'Bab-el-Mandeb Strait: Trade route between East and West narrows amid Houthi threat' created in Ankara, Turkiye on December 18, 2023. Concerns grow as major maritime transportation companies alter their ship routes in response to the increasing Houthi threats in the Red Sea.

Persons: Lloyd, Ryan Bohl, Rane, Khaled Abdullah, Houthi, Rather, Mohammed Hamoud, Mohammed al, Sidharth, , Kaushal, Corey Ranslem Organizations: Galaxy Leader, Houthi, Media, Reuters, . Central Command, BP, Maersk, MSC, CMA, Pentagon, DHL, Middle East, CNBC, Hezbollah, Saudi, Arab, Hamas, Royal United Services Institute, Maxar, Dryad Locations: Red, Yemen, Suez, Africa, Asia, Europe, North Africa, U.S, Lebanese, America, Israel, Saudi, Sanaa, Saudi Arabia, Iran, Mandeb, Trade, East, West, Ankara, Turkiye, Hodeida, Islamic Republic, Gaza, Palestinian, Israel's, Sana'a, London, Bahrain, Canada, France, Italy, Netherlands, Norway, Spain

☆ For Microsoft and OpenAI, after a year in the 'hype cycle,' the Copilot corporate spending boom is just getting started
▼ + stars: | 2023-12-20 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +9 min

While another third (32%) said they have not made the spending decision, only 13% said they would not be acquiring similar gen AI capabilities. Microsoft has pointed to customers including Visa, BP, Honda and Pfizer using Copilot, and professional services firm partners on Copilot AI including Accenture, EY, KPMG, and PwC. And even amid the hype, it's important to keep in mind that as gen AI spending grows, it is still dwarfed by companies' cybersecurity budget needs. That means roughly $5 will be spent on security for every dollar spent on gen AI. But it's growing, and for now at least, when it comes to the billions in gen AI spending, Microsoft is in the pole position.

Persons: Dan Ives, Google Bard, Satya Nadella, Sam Altman, Altman, Jason Wong, Wong, Joe Atkinson, That's, Copilot, It's, Gartner, it's, Will, John Lovelock Organizations: Microsoft, Wedbush Securities, " Enterprises, Google, CNBC Technology, Survey, Gartner, Visa, BP, Honda, Pfizer, Accenture, EY, KPMG, CNBC, CNBC TEC, SAP, Adobe, Amazon Web, Meta, SharePoint Locations: San Francisco , California, U.S, Copilot, Salesforce, that's

☆ Red Sea crisis: Who are the Houthis and why are they attacking ships?
▼ + stars: | 2023-12-19 | by ( Christian Edwards | ) edition.cnn.com time to read: +10 min

CNN —Yemen’s Iran-backed Houthi rebels are stepping up their strikes on ships in the Red Sea, which they say are revenge against Israel for its military campaign in Gaza. While the Houthis may not be able to pose a serious threat to Israel, their technology can wreak havoc in the Red Sea. Video Ad Feedback Video shows moment Houthi rebels storm cargo ship in the Red Sea 02:30 - Source: CNNWhy are the Houthis attacking ships in the Red Sea? A number of countries have taken steps to try and push back Houthi aggression in the Red Sea region. The United Nations Security Council has meanwhile approved a resolution calling on Yemen’s Houthi rebel group to “cease its brazen” attacks in the Red Sea.

Persons: CNN —, Israel, Biden, Allah, Hussein, ”, Zaidis, Khaled Abdullah, aren’t, Israel –, Carney, Yemen’s, Joe Biden, ” Biden, “, Houthis “, ” Sare’e, Mohammed al, Al Jazeera Organizations: CNN, CNN — Yemen’s, United, Hamas, Reuters, UN, United Nations Development Programme, United Nations Office, Humanitarian Affairs, Center for Strategic, International Studies, US, Maersk, Lloyd, CMA CGM, Evergreen, United Arab Emirates, Prosperity, United Nations Security Locations: CNN — Yemen’s Iran, Red, Gaza, United States, United Kingdom, Yemen, Iran, Islam, Saudi Arabia, Saudi, Sanaa, Iran’s, Israel, Islamic Republic, Hezbollah, Lebanon, Tehran, Eilat, Suez, Egypt, Hapag, Africa, Russia, China, Britain, Palestine

☆ U.S. launches Operation Prosperity Guardian to defend Red Sea shipping lanes from Houthi attacks
▼ + stars: | 2023-12-18 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

U.S. officials on Monday expanded a multinational maritime force in the Red Sea to defend against escalating attacks from the Iran-backed Houthi rebels, which have impeded international shipping routes. The new defense, named Operation Prosperity Guardian, builds on the power of the Combined Maritime Forces, a 39-member international coalition. A subdivision of the forces, called Task Force 153 is dedicated to the Red Sea. Oil giant BP announced Monday it would temporarily suspend its shipping in the Red Sea, joining companies like shipping firms Maersk, MSC and others. Operation Prosperity Guardian will aim to deter further Houthi attacks as the U.S. eyes potential flare-ups of regional conflict amid the Israel-Hamas war.

Persons: Lloyd Austin, hadn't, John Kirby Organizations: Prosperity, Combined Maritime Forces, U.S . Navy Fifth Fleet, Security, Task Force, BP, Maersk, MSC Locations: Sana'a, Yemen, U.S, Iran, Bahrain, Suez, Red, Israel

☆ BP ex-CEO loses $40 million over relationships with colleagues
▼ + stars: | 2023-12-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Read previewBP CEO Bernard Looney abruptly resigned in September after the company's board said he hadn't been forthright about past "personal relationships" with colleagues. That could equal around $1.3 million he'll have to repay, The New York Times reported. AdvertisementIn 2022, according to the company's annual report, Looney had total compensation at BP of nearly $13 million, based on current exchange rates. Looney resigned in September 2023. AdvertisementBut in September of this year, the month he resigned, Looney informed the company he hadn't been "fully transparent" in those assurances, BP said.

Persons: —, Bernard Looney, hadn't, Looney, it'd Organizations: Service, Business, Securities and Exchange Commission, New York Times, BP

☆ Fact-Checking Kremlin's Claim That More Foreign Companies Remain in Russia Than Have Left
▼ + stars: | 2023-12-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

AdvertisementAfter Russia invaded Ukraine in February 2022, over 1,000 foreign companies announced they would exit Russia in protest against the war. "More foreign companies remain in Russia than those who left the country," Dmitry Peskov, a spokesperson for the Kremlin, told Business Insider in late October. 1: Data from Yale UniversityYale University runs an ongoing study that examines which foreign companies have left Russia since the war began. Here are their results as of November 21:KSE's data shows that most foreign companies have not left Russia. Russia is making it difficult for foreign companies to exitMany companies still operating in Russia are also stuck in the process of exiting the market.

Persons: KSE, —, it's, haven't, Dmitry Peskov, Steven Tian, Tian, Agathe Demarais, Igor Lipsits Organizations: Kremlin, Yale, Service, BI, Yale University Yale University, Kyiv School of, Kyiv School of Economics, University of St, Yale's, Leadership Institute, BP, Benetton, Unilever, Nestlé, European Council, Foreign Relations, Financial Times Locations: Russia, Ukraine, Gallen, Switzerland, Ukrainian, Russian

☆ EV charging growth plans slowed by EU's power grid problems
▼ + stars: | 2023-12-04 | by ( Julia Payne | ) www.reuters.com time to read: +6 min

These are due to be implemented in 18 months and include addressing EV charging station power shortages. The ease of building an EV charging hub varies considerably country by country. To do so, it will ban sales of CO2-emitting vehicles from 2035 and wants to develop a network of EV charging stations. "Sometimes we have to send physical mail," said Peter Badik, co-founder of EV charging firm Greenway Network, which has set up 1,300 EV chargers in Slovakia, Croatia and Poland. "There is a clear need for more standardisation (of requirements for charging hubs)," BP's van Dobschuetz added.

Persons: Repsol, It's Kafka, Lucie Mattera, Mattera, Miguel Stilwell de Andrade, Peter Badik, Stefan van Dobschuetz, Dobschuetz, ChargeUp Europe's Mattera, Julia Payne, Alexander Smith Organizations: European Union, European Commission, EV, Reuters, Industry, Greenway Network, BP Pulse, Thomson Locations: BRUSSELS, Germany, Spain, Europe, EU, Slovakia, Croatia, Poland

The hundreds of fossil fuel-connected people make up just a tiny share of the 90,000 people who registered to attend the climate summit known as COP28. “Let history reflect the fact that this is the Presidency that made a bold choice to proactively engage with oil and gas companies,” al-Jaber said. COP28 comes as the planet faces a mounting imperative to reduce greenhouse gas emissions. David Hone, Shell's chief climate adviser, is in Dubai for at least his 17th appearance at the annual climate talks. At the moment, it's preventing about 0.1% of the energy sector's carbon emissions from reaching the atmosphere, according to the IEA.

Persons: Bob Deans, Deans, Sultan al, Jaber, “, ” al, COP28, TotalEnergies, Paul Naveau, Patrick Pouyanné, ” Naveau, Naveau, Shell, that's, ”, Arthur Lee, David Hone, Hone, Rachel Rose Jackson Organizations: The United Nations, U.S, Resources Defense, United Arab Emirates, Global, Coalition, Shell, TotalEnergies, BP, AP, Nations, UN, didn't, ”, International Energy Agency, IEA, Chevron, Corporate Locations: United Nations, Dubai, Chevron, Shell's

☆ Oil and gas are 'part of the solution,' not the problem, former BP chief says
▼ + stars: | 2023-12-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil and gas are 'part of the solution,' not the problem, former BP chief saysOil and gas are "part of the solution," not the problem, BeyondNetZero Chairman John Browne, who once led BP, tells CNBC's Steve Sedgwick at COP28 in Dubai.

Persons: John Browne, Steve Sedgwick Organizations: Email, BP Locations: COP28, Dubai

Signing on to the pledge were major national oil companies such as Saudi Aramco, Brazil's Petrobras and Sonangol, from Angola, and multi-nationals like Shell, TotalEnergies and BP. The pledge is a “smokescreen to hide the reality that we need to phase out oil, gas and coal,” said a letter signed by more than 300 civil society groups. Still, Mena said that self-reporting didn't go far enough to push oil and gas companies to make changes. Earlier this year, European Union negotiators reached a deal to reduce methane emissions from the energy industry across the 27-member bloc. In his speech, al-Jaber said oil and gas companies needed to do more to research solutions to Scope 3 emissions.

Persons: Sultan al, Jaber, ”, Jean Su, Fred Krupp, Bill Hare, Hare, Marcelo Mena, Mena, John Podesta, Abu Dhabi’s ADNOC Organizations: United Arab Emirates, Associated Press, Abu Dhabi National Oil Co, Saudi Aramco, Brazil's Petrobras, Sonangol, Shell, Center for Biological Diversity, Environmental, Environmental Defense Fund, U.S . Environmental Protection Agency, European Union, Gas, United Arab, Aramco, AP Locations: DUBAI, United Arab, United Nations, Abu Dhabi, Saudi, Angola, COP28, al, fracking, philanthropies, Chile, U.S, United States, United Arab Emirates, Saudi Arabia

The rules, two years in the making, were announced by U.S. officials at the United Nations COP28 climate change conference in Dubai. Methane tends to leak into the atmosphere undetected from drill sites, gas pipelines and other oil and gas equipment. It has more warming potential than carbon dioxide and breaks down in the atmosphere faster, so reining in methane emissions can have a more immediate impact on limiting climate change. The agency also tweaked the Super Emitter Program so that third parties send information on methane leaks to EPA directly for verification. The American Petroleum Institute, an oil and gas industry trade group, said it was reviewing the rule.

Persons: Liz Hampton, Biden, Michael Regan, Michelle Lujan Grisham, Jill Tauber, Dustin Meyer, Darren Woods, Nichola Groom, Valerie Volcovici, Diane Craft, Giles Elgood Organizations: REUTERS, Rights, Saturday, U.S, United, Environmental, EPA, New, American Petroleum Institute, Reuters, Thomson Locations: New Mexico, U.S, United Nations, Dubai, The United States, United States, COP28

A general view of a wind turbine at Westmill Wind Farm & Solar Park, which is owned by the community and supports local renewable energy, at Watchfield, near Swindon, Britain, September 24, 2021. "More than 110 countries have joined already," European Commission President Ursula von der Leyen told the COP28 summit on Thursday of the renewables pledge. A draft of the renewable energy pledge, seen by Reuters, called for "the phase down of unabated coal power" and ending the financing of new coal-fired power plants. Africa receives just 2% of global investments in renewable energy. Somalia has the highest onshore wind power potential of any African country, yet one of the lowest electrification rates in the continent, according to the International Energy Agency.

Persons: Andrew Boyers, Ursula von der Leyen, Najib Ahmed, Kate Abnett, Richard Valdmanis, William Mallard Organizations: REUTERS, Rights, European Union, United Arab, BP, Reuters, International Energy Agency, ___, Thomson Locations: Watchfield, Swindon, Britain, United States, United Arab Emirates, China, India, South Africa, Vietnam, Australia, Japan, Canada, Chile, Barbados, COP28, Africa, Somalia

☆ U.S. lays out plan at COP 28 to slash climate 'super pollutant' methane from oil and gas
▼ + stars: | 2023-12-02 | by ( ) www.cnbc.com time to read: +4 min

The Biden administration on Saturday unveiled final rules aimed at cracking down on U.S. oil and gas industry releases of methane, part of a global plan to rein in emissions that contribute to climate change. The rules, two years in the making, were announced by U.S. officials at the United Nations COP28 climate change conference in Dubai. Methane tends to leak into the atmosphere undetected from drill sites, gas pipelines and other oil and gas equipment. It has more warming potential than carbon dioxide and breaks down in the atmosphere faster, so reining in methane emissions can have a more immediate impact on limiting climate change. The American Petroleum Institute, an oil and gas industry trade group, said it was reviewing the rule.

Persons: Biden, Michael Regan, Michelle Lujan Grisham, Jill Tauber, Dustin Meyer, Darren Woods Organizations: Saturday, U.S, United, Environmental, EPA, New, American Petroleum Institute, Reuters Locations: United Nations, Dubai, The United States, U.S, New Mexico, United States, COP28

☆ ‘Backtracking:’ A year of climate failures ahead of a crucial summit
▼ + stars: | 2023-11-30 | by ( Laura Paddison | ) edition.cnn.com time to read: +11 min

And yet, even as the climate crisis inserts itself viscerally into people’s lives, experts say the year has seen alarming backsliding on climate action. Green policies have been watered down, huge new oil and gas projects have been greenlit and coal has had something of a resurgence. As countries gather in Dubai for the UN’s COP28 climate summit, there are “high expectations,” said Harjeet Singh, the head of global political strategy at nonprofit Climate Action Network International. It sent worrying signals about climate backtracking, said Elisa Giannelli, a senior policy advisor at climate think tank E3G. Around 50% of its total capital spending needs to go toward clean energy projects by 2030, according to the report.

Persons: ”, Harjeet Singh, Kaveh Guilanpour, Singh, Biden, “, Erik Grafe, Joe Biden, Countess, Norway —, Elisa Giannelli, “ It’s, Rishi Sunak, Joeri Rogelj, Flora Champenois, It’s, Bernd Lauter, ” Rogelj, Darren Woods, Bernard Looney, Fatih Birol, Guilanpour, Claire Fyson, ” Fyson, “ we’re, ” CNN’s Ella Nilsen, Ivana Kottasová, Gan Organizations: CNN, United Nations, Action, “, Climate, Energy Solutions, US Department of Interior, Imperial College London, Global Energy Monitor, GEM, Getty, BP, Chevron, ExxonMobil, Shell, Exxon, IEA, Climate Analytics Locations: Canada, Libyan, Dubai, Alaska, Washington ,, Australia, Norway, Europe, Germany, China, Asia, Ukraine, Eschweiler, COP28

☆ Defying Pope's calls for climate action, US Catholic bishops cling to fossil fuels
▼ + stars: | 2023-11-29 | by ( Richard Valdmanis | ) www.reuters.com time to read: +9 min

The ongoing investments in the U.S. reflect a long-running rift between U.S. Catholic bishops and the pope on how to address global warming. The pope's Laudato Si encyclical urged immediate action against climate change, declaring that "highly polluting fossil fuels need to be progressively replaced without delay." The Vatican bank, which is separate from APSA, also does not invest in fossil fuels, a bank official said. Notably absent are any dioceses in the U.S.Reuters reviewed the financial reports published by two dozen of the nation's more than 170 Catholic dioceses, including several of its largest, and found that few provide details on specific investments. He called the enormous financial gains by oil companies "immoral profits."

Persons: Pope Francis, Remo Casilli, Dan DiLeo, Peter Marlow, Anne, Marie Welsh, William Lori, Joshtrom Kureethadam, Chieko Noguchi, Noguchi, USCCB, Sabrina Danielsen, Danielson, Richard Valdmanis, Philip Pullella, John Mair, Suzanne Goldenberg Organizations: Catholic, drillers, U.S . Conference of Catholic Bishops, Catholic Church, Reuters, Justice, Peace, Creighton University in, Vatican, Opportunity Fund, Collective Investment, Archdiocese, Development, American Petroleum Institute, Christian Brothers Investment Service, Investment, BP, Shell, Creighton University, U.S, Thomson Locations: United States, Dubai, Creighton University in Nebraska, U.S, APSA, Vatican, Ireland, Germany, Archdiocese, Boston, Chicago, San Francisco, Erie , Pennsylvania, Texas, San Antonio, Austin, Fort Worth . Erie, Erie, Baltimore, Paris, Saudi Aramco, PetroChina, India, Vatican City, Berlin, Sydney

Darren Woods, CEO of ExxonMobil, speaks at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S., November 15, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsHOUSTON, Nov 29 (Reuters) - Exxon Mobil Corp (XOM.N) Chief Executive Darren Woods is making plans to attend the COP28 climate summit in Dubai next week, two people familiar with the matter said, in what would mark a first for an Exxon CEO, if confirmed. Woods is expected to advocate that reducing carbon emissions should be a priority in addressing climate change, rather than reducing oil production. "We commit to solving the world’s energy and emissions challenges simultaneously," Darren Woods said at the APEC CEO summit earlier this month. Exxon says technology advancements allowed it to join the initiative and that the decision guards no relation with Pioneer's acquisition.

Persons: Darren Woods, Carlos Barria, Woods, Sultan al, Jaber, Exxon's, Matt Kolesar, Sabrina Valle, Sarah McFarlane, Josie Kao, Aurora Ellis Organizations: ExxonMobil, Economic Cooperation, REUTERS, Rights, Exxon Mobil Corp, Exxon, APEC, Abu, Abu Dhabi National Oil Company, United, Natural Resources, Gas Methane Partnership, Reuters, United Nations Environment Programme, Shell, BP, Conoco, Chevron, Thomson Locations: Asia, San Francisco , California, U.S, Dubai, Abu Dhabi, United Nations, OGMP, Occidental

☆ Insight: Defying Pope's calls for climate action, US Catholic bishops cling to fossil fuels
▼ + stars: | 2023-11-29 | by ( Richard Valdmanis | ) www.reuters.com time to read: +10 min

The ongoing investments in the U.S. reflect a long-running rift between U.S. Catholic bishops and the pope on how to address global warming. The pope's Laudato Si encyclical urged immediate action against climate change, declaring that "highly polluting fossil fuels need to be progressively replaced without delay." The Vatican bank, which is separate from APSA, also does not invest in fossil fuels, a bank official said. A CCF official said energy and fossil fuels stocks make up between 3.5% and 6% of archdiocese investment funds, and that CCF uses its shareholder status to press for corporate environmental improvements. He called the enormous financial gains by oil companies "immoral profits."

Persons: Pope Francis, Dan DiLeo, Peter Marlow, Remo Casilli, Anne, Marie Welsh, William Lori, Bernard Hebda, Saint, Joshtrom Kureethadam, Chieko Noguchi, Noguchi, USCCB, Sabrina Danielsen, Danielson, Richard Valdmanis, Philip Pullella, John Mair, Suzanne Goldenberg Organizations: Catholic, drillers, U.S . Conference of Catholic Bishops, Catholic Church, Reuters, Justice, Peace, Creighton University in, Vatican, Opportunity Fund, Collective Investment, Archdiocese, Minneapolis, Catholic Community Foundation of Minnesota, CCF, Development, American Petroleum Institute, Christian Brothers Investment Service, Investment, BP, Shell, Creighton University, U.S, Thomson Locations: United States, Dubai, Creighton University in Nebraska, U.S, APSA, Vatican, Ireland, Germany, Archdiocese, Boston, Chicago, San Francisco, Erie , Pennsylvania, Texas, San Antonio, Austin, Fort Worth . Erie, Erie, Baltimore, Saint Paul, Paris, Saudi Aramco, PetroChina, India, Vatican City, Berlin, Sydney

It follows the successful transatlantic crossing by a Gulfstream G600 business jet using the same fuel last week. SAF is key toward reducing those emissions, but it is costly and accounts for less than 0.1% of total global jet fuel in use today. The fuel used to power Tuesday's flight is mostly made from used cooking oil and waste animal fat mixed with a small amount of synthetic aromatic kerosene made from waste corn, Virgin Atlantic said. Yet the 2030 target looks challenging given SAF's small volumes and its high cost, right now about three to five times as much as regular jet fuel. Virgin said the engines on the flight would be drained of SAF and tested before it returns to service using regular fuel.

Persons: Virgin, Richard Branson, Shai Weiss, Mark Harper, John F, Magdalena Heuwieser, Sarah Young, Joanna Plucinska, Tomasz Janowski Organizations: Virgin Atlantic, Virgin Boeing, Royce, Trent, Gulfstream G600, London Heathrow, Kennedy International Airport, Virgin, SAF, Boeing, BP, Aviation, British Airways, Air France, Union, Thomson Locations: London, New York, Dubai

SummaryCompanies Aims for aerospace margin of 15-17%Expects medium-term annual operating profit of 2.8 bln stgShares rise 6.5%LONDON, Nov 28 (Reuters) - Rolls-Royce (RR.L) aims to quadruple profit in the next five years by boosting the performance of its jet engines and bearing down on costs in boss Tufan Erginbilgic's masterplan for Britain's most prestigious engineering company. That would be driven by surge in profit margins at its civil aerospace business to 15-17% from 2.5% last year. Agency Partners analyst Nick Cunningham said the targets implied Rolls-Royce was willing to shed revenues in exchange for better profitability. "If so, that is a deeper culture change from Rolls-Royce’s traditional market share optimisation approach of past decades," he said. "We will capture market share every year, but in a profitable way," he said.

Persons: Tufan, Erginbilgic, Nadja Wohlleben, Royce, Nick Cunningham, Rolls, Paul Sandle, Barbara Lewis, Mark Potter Organizations: Royce, Airbus, Boeing, REUTERS, Agency Partners, Trent, Thomson Locations: widebodies, Royce Germany, Dahlewitz, Berlin, Germany

In Hungary, central bank governor Gyorgy Matolcsy is under pressure from Viktor Orban's government to cut rates further ahead of local and European Parliament elections next year. Reuters GraphicsTANGIBLE BENEFITSA 2021 World Bank survey found that political meddling in central bank policy led to sustained periods of high inflation in emerging market economies such as Turkey and Argentina. "Attempts to bring the president of the NBP before the State Tribunal can be directly interpreted as an attack on the independence of the central bank," the spokesman said. How those premia evolve will depend partly on how politics in Poland and Hungary is perceived by investors to influence the central banks in the months to come. "Everything else being equal, the less independent the central bank, the more real yield you need to have to be compensated for the risk," said Arif Joshi at Lazard Asset Management.

Persons: Adam Glapinski, Gyorgy Matolcsy, Viktor Orban's, Donald Tusk's, Karen Vartapetov, Paul Gamble, Glapinski's, Glapinski, Marta Kightley, Orban, Peter Virovacz, Arif Joshi, Karol Badohal, Gergely, Mark John, Toby Chopra Organizations: WARSAW, Law and Justice, U.S . Federal Reserve, EU, Sovereign, Investor, Emerging, Fitch, Local, ING, Lazard Asset Management, Thomson Locations: Hungarian, Poland, Hungary, BUDAPEST, Europe, Turkey, Argentina, WARSAW

☆ Fund manager reveals one global energy stock to buy right now
▼ + stars: | 2023-11-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Total Energies is one energy stock investors should own right now, according to Brian Arcese, portfolio manager at investment firm Foord Asset Management. Total shares are trading at a significant discount compared to shares of Exxon Mobil, Chevron Shell, and BP on a forward price-to-earnings ratio basis at 6.8x, according to FactSet data. While Total is not among the 10 largest investments in Arcese's fund, Foord Asset Management is an investor in the stock. Arcese told CNBC Pro Talks that around 15-20% of Foord's equity portfolio is allocated to commodity and energy stocks. Scotiabank analysts have a hold-equivalent rating on the U.S.-listed stock with a price target of $68, where the stock is currently trading.

Persons: Brian Arcese, Arcese, it's, We've, Morgan Stanley, Paul Cheng, TotalEnergies Organizations: Foord Asset Management, Fund, Exxon Mobil, Chevron Shell, BP, New, Foord, Management, CNBC, Singapore . Commodities, Equity, UBS, Scotiabank, RBC Capital Markets, RBC Locations: New York, Paris, Singapore, U.S, Foord

☆ BP enters Japan's power retail market
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

The logo of British multinational oil and gas company BP is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsCompanies Bp Plc FollowTOKYO, Nov 27 (Reuters) - BP (BP.L) said on Monday it has entered Japan's power market after receiving approval from the industry ministry to operate as a retail electricity provider. BP Energy Japan (BPEJ), part of BP's trading and shipping division, will operate the new business, according to the statement. Further details of the company's business plan were not immediately available. Reporting by Yuka Obayashi; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Yuka Obayashi, Janane Organizations: BP, REUTERS, Rights, BP Energy Japan, Thomson Locations: Vancouver , British Columbia, Canada, Japan

REUTERS/David Swanson/File photo Acquire Licensing RightsNov 24 (Reuters) - Canceled offshore wind projects, imperiled solar factories, fading demand for electric vehicles. A year after passage of the largest climate change legislation in U.S. history, meant to touch off a boom in American clean energy development, economic realities are fraying President Joe Biden’s agenda. Clean energy experts interviewed by Reuters say the mounting setbacks will make the United States' ambitious targets to decarbonize by mid-century even harder to reach. Solar energy facilities account for two thirds of those delays due in part to U.S. import restrictions. "These are the normal ups and downs of clean energy development and deployment," Reicher said.

Persons: David Swanson, Joe Biden’s, Biden, John Hensley, Wood Mackenzie, “, Ali Zaidi, Prakash Sharma, that's, Vic Abate, it's, Robert Walther, Walther, Dan Reicher, Reicher, Nichola Groom, Richard Valdmanis, Alistair Bell Organizations: REUTERS, Soaring, Ford, Reuters, American Clean Power Association, United Nations, White, Dominion Energy Inc, TEN, GE, Biden, Treasury Department, Trump, Stanford University, Thomson Locations: Palm Springs , California, U.S, Washington, Nations, Egypt, Dubai, United States, Paris, Virginia, Gulf of Mexico

☆ How Walmart, Kroger, and other major retailers are ramping up self-checkout tech to combat theft
▼ + stars: | 2023-11-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Retailers and tech firms are developing new ways to detect — and prevent — theft. Companies like Walmart and Kroger are using cameras, AI sensors, and other tech at self-checkouts. These days, companies like Walmart, Kroger, and more are outfitting their self-checkouts with cameras, AI-enabled sensors, and other high-tech tools to tamp down theft at self-checkout stations. They previously said, "As with other retailers, theft is always a challenge, and we're always looking for better ways to tackle this issue. The presence of a person is one of several low-tech ways retailers have managed to curb shoplifting at self-checkout lanes.

Persons: —, Craig Szklany, Dominick Reuter, we're, Sensormatic, Kroger, Abhinai Srivastava, haven't, Srivastava, Sensormatic's Szklany Organizations: Companies, Walmart, Kroger, Service, Business, BP

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