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LAUNCESTON, Australia, Jan 24 (Reuters) - The premium of high-grade thermal coal over coking coal in Asia is shrinking as China's re-opening and ending of a ban on imports from Australia powers a rally for coking coal, a key steelmaking ingredient. Newcastle thermal coal futures have traded above coking coal contracts since June 1 last year - something that had not occurred previously in the history of the two contracts. At the same time, coking coal prices weakened as steel production outside China softened while the global economy simultaneously tried to deal with an energy crisis and the accompanying surge in inflation. Thermal coal vs coking coal pricesAUSTRALIA EXPORTSIt's worth noting that the end of Beijing's unofficial ban on coal imports from Australia has yet to show up in any meaningful way in China's imports, although there are signs that coking coal flows will resume. This raises the possibility that coking coal prices will continue to rally, while thermal coal prices may soften as the northern winter ends.

☆ Live Nation CFO to testify in Senate after Taylor Swift ticketing woes
▼ + stars: | 2023-01-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

FILE PHOTO: The logo for Live Nation Entertainment is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. REUTERS/Brendan McDermidWASHINGTON (Reuters) -Live Nation Entertainment President and Chief Financial Officer Joe Berchtold will testify at a U.S. Senate Judiciary Committee hearing on Tuesday after its Ticketmaster’s unit had problems managing the sale of Taylor Swift concert tickets, the committee said. Live Nation did not immediately comment. “As Live Nation leverages its power across the concert ecosystem to increase its profits, concertgoers see higher prices, and artists experience challenging touring dynamics,” Lawrence wrote in a New York Times essay last month. In November, Ticketmaster denied any anti-competitive practices and noted it remained under a consent decree with the Justice Department following its 2010 merger with Live Nation.

☆ Live Nation CFO defends Ticketmaster, blames bots for Taylor Swift debacle
▼ + stars: | 2023-01-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

FILE PHOTO: The logo for Live Nation Entertainment is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. Ticketmaster has come under harsh criticism from fans and lawmakers, accusing it of having too much control over the market for concert tickets. Berchtold’s testimony said Live Nation has invested over $1 billion over the years to improve Ticketmaster. “Whether it meets the legal definition of a monopoly or not, Live Nation’s control of the live music ecosystem is staggering.”Ticketmaster has denied any anti-competitive practices and remains under a consent decree with the Justice Department following its 2010 merger with Live Nation. Live Nation included letters of support with its testimony including one from singer Garth Brooks who asked” My question is, as a country, why don’t we just make scalping illegal?

☆ Hawaii surf contest The Eddie returns with women competing alongside men for the first time
▼ + stars: | 2023-01-22 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

And this year female surfers will be competing alongside the men for the first time in the 39-year history of The Eddie Aikau Big Wave Invitational. But author Stuart Coleman says The Eddie is distinguished by how it honors Eddie Aikau, a legendary Native Hawaiian waterman, for his selflessness, courage and sacrifice. Coleman said The Eddie is about the best of big wave surfing and the best of Hawaiian culture. “To see women — not only women surfing Waimea but women and men sharing the same event together, with mutual respect and equality — I’m just really thrilled at the thought,” Pennybacker said. Kathleen Pahinui, the chairperson of the North Shore Neighborhood Board, said it will be good for businesses, restaurants and shops.

☆ A tiny, remote village in Alaska is mourning the death of a mother and baby in a rare polar-bear attack
▼ + stars: | 2023-01-21 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

A polar bear killed a mother and baby in Wales, Alaska, earlier this week. The bear killed 24-year-old Summer Myomick and her 1-year-old son Clyde Ongtowasruk on January 17 after it chased multiple residents of Wales, Alaska. A map showing the location of Wales, Alaska Google Maps/Insider"The polar bear was chasing them and tried to get in as well. Only 160 people live in Wales, Alaska, and a GoFundMe has been set up for the family of the deceased. This fatal bear attack is the first of its kind in over 30 years.

☆ Polar bear emerged unseen from snowstorm to kill mom and son before it was shot
▼ + stars: | 2023-01-20 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

It was the first fatal polar bear attack in 30 years in Alaska, the only U.S. state that is home to the animals. The view from the front of the school in Wales, Alaska, on Sunday. However, polar bears see humans as prey, said Geoff York, the senior director of conservation at Polar Bear International. Polar bears are the largest bear species, according to the U.S. Polar bears generally feed on seals, but also walruses and beluga whales.

Rep. Dan Bishop of South Carolina , one of 13 holdouts who flipped to back McCarthy on the 12th ballot, will continue to serve on the Judiciary Committee. , one of 13 holdouts who flipped to back McCarthy on the 12th ballot, will continue to serve on the Judiciary Committee. , who flipped to McCarthy on the 12th ballot, won a seat on the Homeland Security Committee. , who also flipped to McCarthy on the 12th ballot, won a new seat on the powerful Appropriations Committee, which controls federal spending. Rep. Mary Miller of Illinois , who flipped to McCarthy on the 12th ballot, will remain on the Agriculture Committee.

☆ GOP Freedom Caucus is reaping its reward for holding House speaker election ransom, with even holdout Boebert given plum committee role
▼ + stars: | 2023-01-18 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

GOP Freedom Caucus members initially held out on voting for Kevin McCarthy for House speaker. Many have now received key appointments, including Lauren Boebert on the Oversight Committee. Boebert and several other Freedom Caucus Republicans have been given seats on the House Oversight Committee, the main oversight body in the House of Representatives. Reps. Byron Donalds, Paul Gosar, and Scott Perry, other members of the Freedom Caucus, were also put on the committee, Axios reported. Members of the Freedom Caucus, which include vocal Trump supporters and 2020 election deniers, repeatedly refused to support McCarthy in his bid for House speaker.

Russian crude export volumes have held up since Moscow's Feb. 24 invasion of Ukraine, but only because China and India have stepped in to buy steeply discounted Russian oil. But while China's crude imports have been rising, a greater share appears to have been captured by Russia. If imports from Russia are excluded, it shows that June imports were 6.97 million bpd and November's were 9.52 million bpd. The increase for imports from all sources in November over June was 2.67 million bpd, but the total ex-Russia was 2.55 million bpd. This raises the possibility that Russia's share of China's crude imports will rise even higher.

The question now is whether 2023 will see China reassert its dominance as the main driver of commodity markets. There were differences in China's 2022 commodities imports, and the trends established may persist for a while yet. However, the trend for crude oil imports and product exports shifted in the last quarter of 2022. Crude oil imports rose 4% in December from the same month a year earlier, reaching 11.3 million bpd. It's likely that they will want to ramp up purchases in 2023 to meet rising domestic demand from the re-opening economy and ongoing fuel export quotas.

☆ Trump claimed credit, but a GOP congressman says the former president had 'no influence' over anti-McCarthy conservatives during the contentious vote for the House speakership
▼ + stars: | 2023-01-15 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Former President Trump has claimed credit for helping Kevin McCarthy win the House speakership. However, several ardent conservatives told ABC that Trump had no real impact during the process. "President Trump had no influence on the votes, myself or any of my colleagues," Rep. Bob Good said. However, Trump backed McCarthy's bid and claimed credit for helping get the GOP leader over the finish line. However, McCarthy personally thanked Trump immediately after winning the speakership, stating that no one "should doubt his influence."

Total global LNG imports rose to 409 million tonnes last year from 386.5 million tonnes in 2021, according to data from Refinitiv, while figures from commodity analysts Kpler showed a slightly lower 400.5 million tonnes, up from 379.6 million tonnes. China imported 64.44 million tonnes of LNG in 2022, down 19.4% from the previous year, according to Kpler data. Much of the increase was met by supply from the United Stares, with imports rising to 52.06 million tonnes from 21.5 million tonnes in 2021. However, it's worth noting that Europe's imports of Russian LNG hit a record high of 15.95 million tonnes in 2022, up from 13.46 million tonnes in 2021. Given Europe's increasing dependence on LNG as Russian pipeline gas supplies are curbed, it may prove challenging for the continent to halt, or even cut back, on Russian LNG.

The answer is while any increase in China's crude oil imports may drive crude oil prices higher, a corresponding increase in fuel exports may weaken regional refining margins. In other words, there are many moving parts to the overall balance between China's crude import demand and regional fuel markets. Another point is that so far there is little evidence that China's crude oil imports are recovering. China doesn't disclose its stockpiles, but it likely added to inventories in 2022 even as total crude oil imports declined. China's crude oil demand isn't necessarily a one-way bullish street, even if the re-opening from COVID-19 is a success.

The first, and most important, is that Australian coal will struggle to compete on price in China, especially thermal grades used to make electricity. Once the informal ban came into effect, Australia's share of China's imports dropped to zero by early 2021. China's imports of Russian thermal coal have remained solid, with some seasonal variations, since then and were 2.96 million tonnes in December, according to Kpler. The question is whether Australian coal miners can compete on price with Russian thermal supplies, and the answer is probably not. Add in a likely price disadvantage and it's hard to see Australian thermal coal charging back into China.

Share this -Link copiedMcCarthy elected speaker in 15th round McCarthy was elected House speaker Saturday shortly after midnight on the 15th ballot. Share this -Link copiedHouse reconvenes to hold 14th round of speaker votes The House has reconvened to begin the 14th round of speaker votes. Read the rest of the story, The House speaker election, in three charts. Share this -Link copiedHouse begins 13th round The House is beginning the 13th round of speaker votes. At least 14 House GOP flip to support McCarthy in twelfth speaker vote Jan. 6, 2023 01:52 Share this -Link copied

JOSH BRECHEEN - FLIPPEDThe Oklahoman freshman went for McCarthy on Friday afternoon, saying a deal "will allow conservatives to rein in out-of-control spending." ANDREW CLYDE - FLIPPEDClyde of Georgia is a member of the hard-right House Freedom Caucus, which is driving opposition to McCarthy. He moved to support McCarthy on Friday. ANDY BIGGS - OPPOSEDThe Arizona lawyer ran against McCarthy in the first round of voting for speaker. MATT ROSENDALE - OPPOSEDThe lone congressman from Montana has remained opposed to McCarthy, voting repeatedly for fellow Republican Kevin Hern instead.

Police in Albuquerque, New Mexico, say the homes or businesses of four local and state politicians have been shot at since early December. Albuquerque Police Chief Harold Medina speaks with the media about the recent shootings at the homes and businesses of local elected officials. In the three cases that involved homes, the shootings involved eight to 12 rounds, police said. Eight shots were fired at the home of Bernalillo County Commissioner Adriann Barboa on Dec. 4. Most of the shootings happened in Albuquerque, which is in Bernalillo County.

☆ After flipping 13 votes in his favor, McCarthy loses yet another floor vote in seemingly endless speaker bid
▼ + stars: | 2023-01-06 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

Kevin McCarthy lost his 12th speaker ballot Friday. The converts are still reviewing rules changes McCarthy has promised in exchange for the gavel. "Watch here and you'll see some people who have been voting against me voting for me," McCarthy told reporters at the US Capitol. Republican Reps.-elect Ken Buck of Colorado and Wesley Hunt of Texas, both McCarthy supporters, were both absent Friday morning because of personal reasons. "You only earn the position if you get the votes," Gaetz said on the House floor, a taunt that caused McCarthy supporter Rep-elect Mike Bost of Illinois to shout his disapproval.

In the third round of voting on Tuesday, all 20 of the lawmakers defying Mr. McCarthy voted for Jim Jordan of Ohio instead. Mr. Jordan, who himself voted for Mr. McCarthy, is a founding member of the Freedom Caucus and has repeatedly cast doubt on the 2020 election. Nineteen Republicans did not support Mr. McCarthy on the first two votes, casting their ballots for others, including Mr. Biggs and Mr. Jordan. 1st Zeldin Jordan Jordan Luna , Fla. 13th Fla. 13th Jordan Jordan Jordan Miller , Ill. 15th Ill. 15th Jordan Jordan Jordan Norman , S.C. 5th S.C. 5th Biggs Jordan Jordan Ogles , Tenn. 5th Tenn. 5th Jordan Jordan Jordan Perry , Pa. 10th Pa. 10th Biggs Jordan Jordan Rosendale , Mont. 2nd Biggs Jordan Jordan Roy , Texas 21st Texas 21st Donalds Jordan Jordan Self , Texas 3rd Texas 3rd Jordan Jordan JordanLee Zeldin, a former representative from New York, received one vote (from Andy Harris of Maryland) on the first ballot.

While the majority party has elected their nominee on the first ballot over the past century, this year could be different. Members vote "viva voice," meaning they stand when their names are called by a reading clerk and verbally announce who they are voting for. Members can vote for anyone (even people who are not members of the House), vote present, or not vote at all. If every member doesn't show up, or if some vote present instead of supporting a candidate, that decreases what the majority vote needs to be. Political parties are much stronger now than they were then, when House members were often more loyal to their region.

☆ 9 hardline Republicans are withholding support for Kevin McCarthy's bid for Speaker of the House, demanding more concessions
▼ + stars: | 2023-01-02 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Kevin McCarthy's race to become House Speaker looks set to go down to the wire. Several hardline GOP lawmakers are making further demands before McCarthy can secure their votes. The House GOP then announced several concessions in a provisional rules package, per CNN. Among the issues being thrashed out is the procedure for ousting a House Speaker, something that some conservative hardliners want to make far easier. On Sunday's call, McCarthy agreed to set the threshold to five lawmakers, CNN reported.

☆ Final farewell: From Sidney Poitier to Pope Emeritus Benedict a look back at the influential figures who died in 2022
▼ + stars: | 2023-01-01 | by ( Associated Press | ) www.nbcnews.com time to read: +55 min

Other world leaders who died in 2022 include former Soviet leader Mikhail Gorbachev, who died in August. The final days of 2022 saw the loss of some exceptionally notable figures, including Pope Emeritus Benedict XVI. Here is a roll call of some influential figures who died in 2022 (cause of death cited for younger people, if available):___JANUARY___Dan Reeves, 77. A Cuban-born artist whose radiant color palette and geometric paintings were overlooked for decades before the art world took notice. A prolific character actor best known for playing villains and tough guys in “The Manchurian Candidate,” “Ocean’s Eleven” and other films.

☆ NBA roundup: Thunder spoil Damian Lillard's record night
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +7 min

No Thunder player other than Gilgeous-Alexander scored more than 13 points, but six other Oklahoma City players scored in double figures. He scored 11 points and nailed three 3-pointers in the first six minutes to help the Cavaliers establish control early. Jarrett Allen added 20 points and 11 rebounds, while Darius Garland contributed 17 points and eight assists. Trae Young led the Hawks with 37 points, and he added 13 assists for his 15th double-double of the season. Anunoby returned from a four-game absence to score 13 points and reserve Chris Boucher had 13 points and 10 rebounds for the Raptors, who lost their sixth straight game.

LAUNCESTON, Australia, Dec 20 (Reuters) - The folly and futility of forecasting commodity prices was rammed home this year, with Russia's invasion of Ukraine upending markets and rendering all prior expectations largely irrelevant. The first thing to note about 2022 was that while commodity prices were shocked by Russia's Feb. 24 attack on Ukraine, many are ending the year little changed or weaker than where they concluded 2021. This dynamic is probably already on display in crude oil, the world's most important commodity, with Brent futures poised to end the year little changed from the last trading day of 2021. In contrast to LNG and coal, metals have largely struggled in 2022, notwithstanding the bump from the conflict in Ukraine. The exception is lithium, with battery-grade lithium hydroxide up 132% so far this year as demand from vehicle and battery makers surge.

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