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☆ Exclusive: Exxon prepares to start up $1.2 bln Texas oil refinery expansion - sources
▼ + stars: | 2023-01-13 | by ( Erwin Seba | ) www.reuters.com time to read: +4 min

Initial startup of a 250,000 barrels per day (bpd) crude distillation unit (CDU) at the 369,000 bpd refinery is expected by Jan. 31, the sources said, making the Beaumont refinery the second largest in the United States. SHALE OIL TO DIESELExxon had no immediate comment on the start up of the new processing unit, called the Beaumont Light Atmospheric Distillation Expansion (BLADE) project. BLADE, considered as early as 2014 and formally approved in 2019, was planned to process Exxon's crude oil pumped from the Permian shale field in West Texas and New Mexico. Operators at the Beaumont refinery this week were purging the new CDU of air in preparation to introduce its first crude, the people familiar with the matter said. POST-PANDEMIC MILESTONEExxon's Beaumont expansion marks a return to an era of steady refining capacity gains through processing tweaks and adding new equipment to existing plants.

☆ Paul Tudor Jones: Your company's stock performance will be rewarded if you do what Americans want
▼ + stars: | 2023-01-10 | 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 EmailPaul Tudor Jones: Your company's stock performance will be rewarded if you do what Americans wantJust Capital co-founder Paul Tudor Jones and T-Mobile CEO Mike Sievert join 'Squawk Box' to discuss the '2023 Just 100 rankings,' markets, and economy.

☆ Watch CNBC's full interview with Just Capital's Paul Tudor Jones and T-Mobile's Mike Sievert
▼ + stars: | 2023-01-10 | 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 EmailWatch CNBC's full interview with Just Capital's Paul Tudor Jones and T-Mobile's Mike SievertJust Capital co-founder Paul Tudor Jones and T-Mobile CEO Mike Sievert join 'Squawk Box' to discuss the '2023 Just 100 rankings,' markets, and economy.

☆ FTX's venture backers included Patriots owner Robert Kraft and billionaire Paul Tudor Jones, new filings show
▼ + stars: | 2023-01-10 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

The roster of high-profile investors who lost money betting on crypto exchange FTX also included New England Patriots owner Robert Kraft and billionaire hedge fund manager Paul Tudor Jones, according to court filings released late Monday. FTX's venture investors included a host of luminaries. Dan Loeb controlled over 6.1 million preferred shares through Third Point-connected venture funds. Rival exchange Coinbase held nearly 1.3 million preferred shares. CNBC has compiled and analyzed the following preferred share ownership using Delaware bankruptcy court filings.

☆ How Paul Tudor Jones is looking at the stock market this year and the chances for a comeback
▼ + stars: | 2023-01-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"You've probably got something just under a trillion dollars of excess demand in U.S. stocks," Jones said Tuesday on CNBC's "Squawk Box." Ceteris paribus, everything being the same, the stock market would be up 7% or 8% this year." The founder and chief investment officer of Tudor Investment said he believes the Fed will stop short of breaking the economy. "It'll require something negative to happen to create the stock market to go down meaningfully," Jones said. Absent that, the stock market is going to stay strong."

The Democrats’ 2024 Senate map was already going to be tough, and it got a little bit harder now that Michigan Democratic Sen. Debbie Stabenow announced Thursday she would not run for re-election. Michigan is one of the five states President Biden won in 2020 by less than 4 percentage points where the Democrats currently have a seat up for re-election next year. And there are three more Democratic seats up in 2024 in states that Trump won. In other 2024 news:Gallego makes more moves: Arizona Democratic Rep. Ruben Gallego is making high-profile hires as he considers a Senate bid, Politico reports. Chris Sununu told Fox News “a lot of folks” want him to run for president and took a swipe at Florida Republican Gov.

WASHINGTON — Sen. Debbie Stabenow, D-Mich., announced Thursday that she won't seek re-election in 2024, setting the stage for a competitive Senate race in a key battleground state during a presidential election year. Garlin Gilchrist, Secretary of State Jocelyn Benson, Attorney General Dana Nessel and state Sen. Mallory McMorrow, who gained a national following last year after going viral with her pushback against anti-LGBTQ rhetoric. Stabenow has served in the Senate since 2001 and previously served in the House from 1997 until her career began in the upper chamber. She holds several Democratic leadership roles including Senate Democratic Policy Committee chair and chair of the Senate Agriculture Committee. She has served alongside Sen. Gary Peters, D-Mich., since he came to Congress in 2015.

☆ Wall Street's biggest investors are all but sure of a recession next year. Here’s where they are hiding out
▼ + stars: | 2022-12-29 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

For investors looking for a way to ride out the storm in one piece, here are where the biggest investors are hiding out. Emerging markets Bond King Gundlach said it's time to buy emerging market stocks as the dollar has likely hit its peak. Cash Cash, one of the most hated corners of the market for years, has gotten some newfound love as risk assets remain stuck in a rout. Buying safe government bonds allows investors to shop for riskier, more opportunistic credits in the market, Gundlach said. Spreads on non-Treasurys have widened, including guaranteed mortgages, junk bond yields, emerging market debt and asset back securities, he added.

WASHINGTON — The 2022 midterm elections were full of surprises. Republicans began the year favored to notch big victories, yet they fell short and barely captured control of the House. Lake was widely seen as the election-denying candidate with the best chance to win a statewide race in a key battleground in the 2022 elections. Secretary of state contenders who echoed Trump’s fabricated claims of a stolen election lost, including Mark Finchem in Arizona, Kristina Karamo in Michigan and Jim Marchant in Nevada. Their wins led Democrats to win every competitive House race and gain control of the state House for the first time in more than a decade — although recent vacancies have called that majority into question.

☆ FTX flameout showed investors bought crypto for the wrong reasons. Why most are hoping that'll change in 2023
▼ + stars: | 2022-12-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

In some ways, disgraced FTX CEO Sam Bankman-Fried helped bring more legitimacy to crypto, pushing it further into the mainstream. Decentralized finance has exploded in popularity, but there are other uses for digital assets that people are excited about. Now is a good time for investors to gain knowledge, and doing so would help them solidify their crypto investment thesis in 2023, he said. Specifically, Blumberg added, leaving funds on centralized exchanges is far more dangerous than keeping custody of funds yourself. "The smart investors are seeing this and remembering that what we have here is a fixed supply and, growing demand."

☆ A Seattle Home Renovation That Restored Lost Charm
▼ + stars: | 2022-12-16 | by ( Barbara Sgroi | ) www.wsj.com time to read: +2 min

LONG BEFORE Akash Niranjan and his wife, Marissa, bought their 1936 house, it had been remodeled to within an inch of its original character. Theirs was one of the many Tudor Revival homes built in downtown Seattle in the 1930s, but unlike many of those, it was “missing the sense of charm that traditional Tudor style homes have,” said Mr. Niranjan. Period details such as leaded glass windows, wood paneling, exposed ceiling beams, crown moldings and fireplaces had disappeared from the 2,500 square-foot house. TIP 1: Give a Light-Challenged Room a Rosy ComplexionThe east side of the home, which houses the kitchen, faces a large, light-blocking condo. To compensate, Ms. Staton had the cabinets painted an unexpected pink with a sunny disposition (Benjamin Moore’s Salmon Mousse).

Marathon, and Valero's market valuations reached record highs in 2022; while Phillips 66 and PBF's are near highs reached in 2019. LESS CAPACITY, MORE PROFITSWhen the pandemic hit, big U.S. refiners closed numerous facilities that were less profitable than other operations. Processing capacity is expected to increase by 1 million bpd per day in 2022 and 1.6 million bpd in 2023, mostly in Africa, Asia and the Middle East. The margins to produce gasoline were consistently higher throughout 2022 than in the last several years as a result of the Ukraine war. A series of closures have caused U.S. processing capacity to decline even as refiners have become more profitable.

☆ FTX flop evokes history’s great financial swindles
▼ + stars: | 2022-11-18 | by ( Edward Chancellor | ) www.reuters.com time to read: +7 min

As Walter Bagehot wrote in “Lombard Street” in 1873, “The good times too of high price almost always engender much fraud. As cryptocurrencies declined in value, FTX provided a line of credit to BlockFi, a stricken crypto-lender. He talked about Three Arrows Capital, the failed crypto hedge fund, as engaged in “punting”. His firm launched a product based on a basket of crypto assets that it called Shitcoin Index Perpetual Futures, with the unsubtle ticker SHIT-PERP. He commissioned an advertisement, aired during the Super Bowl, in which the comedian Larry David casts doubt on the viability of FTX.

In the 13 races in six battleground states where an election denier was on the ballot for governor, secretary of state or attorney general, 12 lost, according to the latest NBC News projections. Arizona — along with Michigan and Alabama — was one of three states where election deniers advanced to be the GOP nominees for governor, secretary of state and attorney general. In Pennsylvania, meanwhile, Republican Doug Mastriano — who was one of the most high-profile election deniers — lost the race for governor to Democrat Josh Shapiro. “But voters sent a very clear message that Americans deeply care about democracy and don’t want extremists running our nation’s elections.”The defeats of election deniers spanned well beyond swing states. All 14 races where election deniers won were in states that voted to elect Trump in both 2016 and 2020.

“Personalities come and go,” said Dave Ball, the GOP chair in Pennsylvania’s Washington County, who has supported and defended Trump. Trump is preparing to do just that, with a Tuesday announcement expected at his Mar-a-Lago resort in Florida. In Illinois, Republicans had threatened to take two state Supreme Court seats and flip state Senate and House seats. In Pennsylvania, GOP leaders had hoped to at least hold on to the seat being vacated by retiring Sen. Pat Toomey. Trump lost the state by narrow margins in 2016 and 2020.

☆ Carl Icahn, David Einhorn, and Dan Loeb bet big on Elon Musk ultimately buying Twitter - and likely raked in profits when the deal closed
▼ + stars: | 2022-11-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Carl Icahn, Dan Loeb, and David Einhorn built sizeable stakes in Twitter last quarter. Icahn and his team amassed 12.5 million Twitter shares, valued at $549 million on September 30. Similarly, Einhorn's Greenlight Capital scooped up 4.3 million shares, worth $188 million at the end of last quarter. It snapped up 5.5 million shares worth $241 million on September 30. It also purchased bullish call options on 34,000 shares, and bearish put options on 1.1 million shares.

☆ Mitt Romney said Trump running for president in 2024 is 'like the aging pitcher who keeps losing games'
▼ + stars: | 2022-11-15 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Sen. Mitt Romney compared former President Donald Trump to an "aging pitcher" on the mound. Romney blamed Trump for the GOP's showing, calling him an "albatross" on electoral prospects. "I think President Trump was an albatross on the electoral prospects for some of our candidates," Romney told MSNBC's Saul Kapur. It's like the aging pitcher who keeps losing games," Romney added. In May, he said it's likely Trump would easily become the 2024 Republican presidential nominee if he runs.

☆ The most prominent election-deniers lost their races. But at least 172 have won so far.
▼ + stars: | 2022-11-14 | by ( Kayla Gallagher | ) www.businessinsider.com time to read: +5 min

So far, at least 172 election deniers have won their races. Of the election deniers up for election, at least 172 have won their elections as of Monday morning at 9:30 a.m. There are 104 election deniers who have lost their races as of 9:30 a.m. Election deniers who have won their racesHigh-profile Republicans who have won their 2022 midterm races include Sen. Rand Paul of Kentucky. Election deniers who could impact 2024 battleground states if electedOut of the election deniers on the ballot, 171 were favored to win and 46 were in races considered competitive by election watchers.

☆ ‘The Tudors: Art and Majesty in Renaissance England’ Review: Crafting a Dynasty’s Enduring Image
▼ + stars: | 2022-11-12 | by ( Dominic Green | ) www.wsj.com time to read: 1 min

New YorkThe Tudor dynasty was short in duration, but it has become perennial in memory. Just over a century passed between 1485, when Henry Tudor became Henry VII , and 1603, when his granddaughter Elizabeth I died childless, ceding England’s throne to the Stuart dynasty in the form of her Scottish cousin James. Yet the Tudor century remade English politics, religion and art, from the Reformation to “Wolf Hall.” “The Tudors: Art and Majesty in Renaissance England,” now at the Metropolitan Museum of Art, is a focused, cool and refreshing study in the imagery of power.

☆ Matt Gaetz mocked GOP leadership over the midterms, dubbing Mitch McConnell, Kevin McCarthy, and Ronna McDaniel a 'McFailure'
▼ + stars: | 2022-11-11 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Matt Gaetz blasted several top GOP leaders as vote counts for the midterms draw to a close. McFailure," tweet Gaetz, meaning Senate Minority Leader Mitch McConnell, House Minority Leader Kevin McCarthy, and Republican National Committee Chairwoman Ronna McDaniel. Gaetz's tweet laid part of the blame on McCarthy, McConnell, and McDaniel. McDaniel has publicly had warmer ties with Trump in recent years than McConnell and McCarthy. Nor did representatives for McCarthy, McConnell, and McDaniel.

☆ Republicans who questioned the 2020 results are bringing back an old norm: Admitting defeat
▼ + stars: | 2022-11-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +7 min

WASHINGTON — The losers of this year’s midterm elections are winning praise for doing something that would be entirely unremarkable in another era — admitting defeat. Of course, dozens of Republican candidates who questioned the legitimacy of President Joe Biden’s election won on Tuesday and will end up in Congress, including Ohio’s J.D. This year, Trump helped Cox defeat a well-connected moderate in the GOP primary to run for governor of Maryland. “I will pray for them and their new role for all of us.”Most losing Republican candidates followed scripts more like Cox’s than Trump’s. Michigan gubernatorial candidate Tudor Dixon initially said Tuesday night that she wanted to see more results before admitting defeat.

☆ The 2022 election disaster that wasn't: The system worked and Trump-backed candidates are conceding
▼ + stars: | 2022-11-10 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +8 min

The run-up to Election Day 2022 was marred by fears of chaos and refusals to concede. A slew of Trump-backed candidates who rejected the legitimacy of the 2020 election were on the ballot. Election Day went smoothly, and while there were minor issues in places like Maricopa County, Arizona, they were quickly identified and resolved and there were no broader infrastructure problems. Taking a lesson from the 2020 election, cybersecurity and election security officials also stepped up efforts to combat disinformation related to this year's midterms. Crucially, many of Trump's handpicked candidates conceded defeat when their races were called.

☆ Trump was the biggest loser of the 2022 midterm elections
▼ + stars: | 2022-11-09 | by ( Arick Wierson | Arick Wierson Is A Six-Time Emmy Award-Winning Television Producer | A Former Senior Aide To Former New York City Mayor Michael Bloomberg. He Advises Political | ) www.nbcnews.com time to read: +6 min

Mehmet Oz, Trump’s handpicked Senate candidate in Pennsylvania, fell to Democratic Lt. Gov. In Georgia, Trump foe Brian Kemp, the Republican governor, easily cruised to another term, besting Democrat Stacey Abrams. Meanwhile, Trump’s pick for Senate in the state, former football star Herschel Walker, is headed into a December runoff with Sen. Raphael Warnock. The storyline of Trump versus DeSantis battling for control of the GOP is already shaping up to be one that will dominate the national political conversation over the next two years. The other storyline should be how the outcome of the elections was a much better one for Democrats than the Beltway intelligentsia had been predicting.

Republican candidate Kari Lake’s campaign began casting doubts on the election results as her Democratic opponent, Katie Hobbs, took the lead. On Tuesday night, while addressing supporters at her election headquarters, Lake said, “It’s like Groundhog Day“ — a reference to the 2020 election. Notably, GOP candidates such as Pennsylvania’s Doug Mastriano have yet to make concession speeches. For what it’s worth, election deniers who lost should follow the lead of Michigan Republican gubernatorial candidate Tudor Dixon who finally conceded to Gov. Indeed, even more than who makes it to Congress, what should concern us is the fact that election deniers won races for governor, attorney general and secretary of state.

☆ Analysis: Four takeaways from the U.S. midterm elections
▼ + stars: | 2022-11-09 | by ( James Oliphant | ) www.reuters.com time to read: +6 min

[1/5] Republican Florida Governor Ron DeSantis is showered with confetti as he celebrates onstage with his wife Casey and family during his 2022 U.S. midterm elections night party in Tampa, Florida, November 8, 2022. Oz, the TV physician who was Trump's hand-picked candidate for the race, had questioned his fitness for office. During Fetterman's campaign, he made much of visiting the state's rural regions with talk of creating working-class jobs. Meanwhile, a race in the state’s 10th district, situated even closer to Washington, ended with incumbent Democrat Jennifer Wexton keeping her seat. The win moved Republicans closer to the five seats they needed to take over the House.

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