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More actively traded October Brent crude futures rose $1.02, or 1.2%, to settle at $85.43 a barrel. The September Brent contract, which expired at settlement on Monday, rose 0.7% to close at $85.56 a barrel. U.S. West Texas Intermediate crude futures rallied $1.22, or 1.5%, to $81.80 a barrel. Reuters GraphicsPump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick OxfordSaudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day (bpd) for another month to include September.

Persons: Goldman Sachs, Brent, WTI, Nick Oxford, Edward Moya, Phil Flynn, Shariq Khan, Natalie Grover, Florence, Mohi Narayan, Christina Fincher, Louise Heavens, David Evans, Nick Macfie, Paul Simao Organizations: Saudi, . West Texas, Midland , Texas U.S, REUTERS, Organization of Petroleum, Reuters, Strategic Petroleum Reserve, Futures, Thomson Locations: Riyadh, OPEC, Goldman Sachs BENGALURU, Midland , Texas, Nick Oxford Saudi Arabia, Saudi, U.S, India, Bengaluru, London, Florence Tan, Singapore, New Delhi

☆ J&J shares on track for biggest daily drop in 3 years on talc setback
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

Companies Johnson & Johnson FollowJuly 31 (Reuters) - Shares in Johnson & Johnson (JNJ.N) were down 4.1% on Monday and looked set for their biggest one-day percentage loss since June 2020 after a U.S. judge shot down its second attempt to resolve tens of thousands of talc-related lawsuits. Johnson & Johnson has now failed twice to resolve talc suits by offloading the related liabilities into a new company and placing it into bankruptcy. Lawsuits had alleged baby powder and other talc products sometimes contained asbestos and caused mesothelioma, ovarian cancer and other cancers. J&J has said its talc products are safe and do not contain asbestos. Flynn, who rates J&J stock 'equal-weight,' has a $187 price target on the stock compared with the median Wall Street price target of $180, according to Refinitiv which shows 23 analysts covering J&J.

Persons: Johnson, imperils, Morgan Stanley, Terence Flynn, Friday's, Flynn, J, Sinéad Carew, Deepa Babington Organizations: Johnson, Thomson Locations: U.S

☆ Insight: Promising new Alzheimer's drugs may benefit whites more than Blacks
▼ + stars: | 2023-07-31 | by ( Julie Steenhuysen | ) www.reuters.com time to read: +11 min

The company told Reuters that 49% of Black volunteers did not meet the trial's amyloid threshold requirements compared to 22% for whites and 55% for Hispanics. "Is it because MCI (mild cognitive impairment) or early dementia type-symptoms in Blacks are caused by other reasons more so than Alzheimer's?" In 96 dementia trials from 2000-2017, diverse populations only made up around 11% of enrollment, according to a 2018 study. Among Black people who died of Alzheimer's, their dementia was more likely to result from multiple causes, such as vascular disease. "Is it that it's not Alzheimer's disease?

Persons: Barrington, Vickie Riley, Charlie, Harriet Shaffer, Barrington Riley, –, Eli Lilly, Lilly, Crystal Glover, Eisai, Ivan Cheung, Cheung, Shobha, Biogen, Mark Mintun, Alzheimer's, Dr Lisa Barnes, Barnes, Joshua Grill, we're, Reisa Sperling, Brigham, Julie Steenhuysen, Caroline Humer, Suzanne Goldenberg, Daniel Flynn Organizations: Emory University Brain Health, Americans, Reuters, Prospective Black, Rush, Disease Research, and Drug Administration, FDA, Black, MCI, National Institutes of Health, Rush Center, University of California, Women's Hospital, Thomson Locations: Atlanta , Georgia, U.S, Chicago, Tokyo, Irvine, United States

Bolstered by supply cuts from the OPEC+ alliance announced earlier this month, both oil benchmarks gained nearly 5% for the week - a fifth straight week of gains. The benchmarks are on track to gain over 13% for the month. In an interview on Friday, Exxon Mobil (XOM.N) chief Darren Woods said he expected record oil demand this year and next. On the supply side, U.S. oil rigs fell by one to 529 this week, their lowest since March 2022, energy services firm Baker Hughes (BKR.O) said on Friday. Saudi Arabia is expected to extend the voluntary oil output cut for another month to include September, five analysts said, to provide additional support for the oil market.

Persons: Brent, Phil Flynn, Jerome Powell's, Tamas Varga, Darren Woods, Baker Hughes, Stephanie Kelly, Natalie Grover, Laura Sanicola, Andrew Hayley, Deepa Babington, Kirsten Donovan Organizations: drillers, U.S . Federal Reserve, European Central Bank, U.S, West Texas, Price Futures, Federal, Exxon Mobil, Thomson Locations: France, Spain, China, OPEC, United States, U.S, Saudi, Saudi Arabia, New York, London, Washington, Beijing

☆ $20 an hour, clothing stipend, meals: How a Big Four firm is trying to get teens interested in accounting
▼ + stars: | 2023-07-28 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

By her own admission, Autumn Kimborough, 17, didn't have a passion for accounting. But the rising high school senior from Flossmoor, Illinois, heard about a well-paid summer internship at KPMG, which included a $250 clothing stipend, and got excited. Nearly 200 teenagers are participating in the summer internship program, which pays $20 or $22 an hour plus clothing and transportation stipends and meals, and includes a business etiquette class, among other skill-building tools. "I had some preconceived notions that it's sitting at a desk," Kimborough said, about being a CPA. "Now I've learned that with accounting you can travel and meet people and that drew me in."

Persons: Jennifer Flynn, Flynn, Kimborough Organizations: KPMG, Big, Finance, CPA Locations: Flossmoor , Illinois

☆ Cambodian PM Hun Sen to hand over power to son
▼ + stars: | 2023-07-27 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsCambodian PM Hun Sen to hand over power to sonPostedCambodia's Prime Minister Hun Sen said on Wednesday he will step down and hand over power to his son next month, ending a near four-decade reign during which he established stability after years of war but stifled democracy in the process. Joel Flynn reports.

Persons: Hun Sen, Joel Flynn Organizations: Cambodian

☆ Small business strength is reaching all-time real estate occupancy levels, says Kimco Realty CEO
▼ + stars: | 2023-07-27 | 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 EmailSmall business strength is reaching all-time real estate occupancy levels, says Kimco Realty CEOConor Flynn, Kimco Realty CEO, joins 'The Exchange' to discuss strong demand for small business real estate, the impact of higher interest expenses, and robust growth in net operating income.

Persons: Conor Flynn Organizations: Kimco

"The oil market is starting to slowly price in a looming supply crunch," Price Futures Group analyst Phil Flynn said. "Global supplies are starting to tighten and that could accelerate dramatically in the coming weeks. A shutdown of the grain corridor could hit supplies of ethanol and biofuels that are blended with oil products at a time that global grain markets are already tightening, which would lead to refiners using more crude oil, Flynn said. Meanwhile, U.S. energy firms this week reduced the number of oil rigs by seven, their biggest cut since early June, energy services firm Baker Hughes said. At 530, the U.S. oil rig count, an early indicator of future output, is at its lowest since March 2022.

Persons: WTI, Phil Flynn, Flynn, Baker Hughes, Suhail, Mazrouei, Rob Haworth, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Marguerita Choy, David Holmes Organizations: Brent, U.S . West Texas, Futures, Energy Information Administration, EIA, UAE Energy, Reuters, P, U.S, Bank Asset Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, Bengaluru, London, Houston, Beijing

Brent crude futures rose $1.43, or 1.8%, to settle at $81.07 a barrel. U.S. West Texas Intermediate crude futures rose $1.42, or 1.9%, to settle at $77.07 a barrel, the highest since April 25. "The oil market is starting to slowly price in a looming supply crunch as it is on track for its fourth week of price gains," Price Futures Group analyst Phil Flynn said. In the U.S., crude inventories (USOILC=ECI) have fallen, amid a jump in crude exports and higher refinery utilisation, the Energy Information Administration (EIA) said on Wednesday. Data from the world's second-biggest oil consumer suggests the government's 5% annual growth target will be missed.

Persons: Brent, Phil Flynn, Flynn, Suhail, Mazrouei, Jay Hatfield, Rob Haworth, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Marguerita Choy, David Holmes Organizations: Friday, Brent, . West Texas, Futures, Energy Information Administration, EIA, UAE Energy, Reuters, Infrastructure Capital Management, P, U.S, Bank Asset Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, China, Bengaluru, London, Houston, Beijing

Brent crude futures rose 90 cents, or 1.1%, to $80.54 a barrel by 11:36 a.m. EDT [1536 GMT]. U.S. West Texas Intermediate futures rose 97 cents, or 1.3%, to $76.62 a barrel. "The oil market is starting to slowly price in a looming supply crunch as it is on track for its fourth week of price gains," said Price Futures Group analyst Phil Flynn. "Global supplies are starting to tighten and that could accelerate dramatically in the coming weeks. Data from the world's second-biggest oil consumer suggests the government's 5% annual growth target will be missed.

Persons: Phil Flynn, Flynn, Suhail, Mazrouei, Jay Hatfield, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Conor Humphries, David Holmes Organizations: Brent, . West Texas, Futures, UN, Energy Information Administration, UAE Energy, Reuters, Infrastructure Capital Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, China, Bengaluru, London, Houston, Beijing

☆ A Mother, Her Daughter, a Masterwork of Psychological Tension
▼ + stars: | 2023-07-21 | by ( Flynn Berry | ) www.nytimes.com time to read: +1 min

HOW TO LOVE YOUR DAUGHTER, by Hila Blum. A woman travels for thousands of miles to spy on a family at the start of “How to Love Your Daughter,” by Hila Blum. Inside are her daughter Leah and her two granddaughters, but they don’t know she is outside: Yoella hasn’t seen Leah in years and has never met her granddaughters. For six years, Leah has made sporadic calls to her mother from around the world, “from Dharamsala, Bangalore, Hanoi, Chiang Mai. She puts herself on trial as a mother, summoning witnesses, poring over the evidence, searching for a crime.

Persons: Hila Blum, Daniella Zamir, Yoella, Leah, Yoella hasn’t, Chiang Mai, “, poring Locations: Dharamsala, Bangalore, Hanoi, Netherlands

IMPORTED ASSEMBLY KITSAfter a chaotic decade following the collapse of the Soviet Union in 1991, Russia encouraged Western carmakers to build factories. "Undoubtedly, the expansion of Chinese carmakers on the Russian market will continue," said Andrey Olkhovsky, the head of dealership chain Avtodom. It is a radical change of fortunes for Chinese carmakers in Russia. Production of Chinese vehicles only began in Russia in 2019 with the arrival of Chinese automotive company Great Wall Motor (601633.SS). LESS LOCAL INPUTUnder the partnership with Chinese firms, less of the production at former Western factories is currently conducted in Russia, the sources said.

Persons: Jetour, Maxim Shemetov, Moscow's, Sergei Sobyanin, French carmaker, JAC, Sehol, Moskvich, capitalising, Vladimir Bespalov, Vladimir Putin, Andrey Olkhovsky, Olkhovsky, Wall, Sollers, Avtovaz, Denis Manturov, Gleb Stolyarov, Alexander Marrow, Zhang Yan, Daniel Flynn Organizations: REUTERS, French, French carmaker Renault, Moscow Automobile Factory, JAC Motors, Reuters, Renault, Nissan, Russia's Industry, Trade Ministry, Wall, Chery, Geely, HK, Argo, Ford Transit, Nissan's St, Lada, China's FAW Group's, FAW, Western, Trade, Thomson Locations: Lyubertsy, Moscow Region, Russia, Soviet, Moscow, Anhui, Ukraine, Soviet Union, Western, Tula, Autostat, Tatarstan, Nissan's, Nissan's St Petersburg, St Petersburg, Leningrad, Japan, Europe, China, Shanghai

☆ For North Korea, defectors don't always mean leverage
▼ + stars: | 2023-07-20 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsFor North Korea, defectors don't always mean leveragePostedNorth Korea is likely to milk the border crossing by a U.S. soldier for propaganda purposes but will probably not be able to gain political leverage, analysts and a former North Korean diplomat said. Joel Flynn reports.

Persons: Joel Flynn Organizations: North Locations: North Korea, Korea, U.S, North Korean

☆ Oil prices dip on profit-taking despite tighter U.S. supplies
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: +2 min

A very large oil tanker docked at the 300,000-ton crude oil terminal at Yantai Port in Yantai, Shandong province, China, June 16, 2023. Oil prices edged lower on Wednesday, as investors took profits following earlier gains on tighter U.S. crude supplies and China's pledge to reinvigorate its economic growth. Prices pared gains late in the session after both contracts had risen by over $1 a barrel. Market participants took advantage of the higher prices and took profits, said Phil Flynn, an analyst at Price Futures Group. ... Any improvement in the inflation data also means an improvement in oil demand," said Naeem Aslam of Zaye Capital Markets.

Persons: Phil Flynn, Flynn, We're, Klaas, Naeem Aslam Organizations: U.S, West Texas, Price Futures, Energy, Strategic Petroleum Reserve, Federal Reserve, European Central Bank, Traders, Zaye, Markets Locations: Yantai, Shandong province, China, Russia

Weeks later, Mr. Trump is the former President Trump. Instead, in a brief televised address shortly before 2:30 a.m., Mr. Trump furiously laid down his postelection lie. For weeks, Mr. Trump had been peppering him with tips of fraud that, upon investigation by federal authorities, proved baseless. The cavalry “is coming, Mr. President,” Kylie Kremer tweeted to Mr. Trump on Dec. 19. On Jan. 15, Mr. Trump acquiesced to an Oval Office meeting with Mr. Lindell, who arrived with two sets of documents.

Persons: Donald J, Trump, Joseph R, Biden, Justin Clark, Rudolph W, Giuliani, Clark, Weeks, Mitch McConnell, McConnell, Jared Kushner, McConnell’s, Biden’s, William P, Barr, Mr, Trump’s, Sidney Powell, Lin Wood, sleuths, MyPillow, Mike Lindell, Patrick Byrne, Stephen K, Bannon, Michael T, Flynn, platformed, Jared Taylor, Enrique Tarrio, Doug Mills, Eric, “ We’re, ”, Fox, Eric Trump, Newt Gingrich, Joe Biden’s, Kevin McCarthy, Laura Ingraham, Obama, Dennis Montgomery, Thomas McInerney, McInerney, John McCain, Bannon’s, “ it’s, Paul Gosar, Doug Ducey, Roy Blunt of, Roy Blunt, Anna Moneymaker, —, “, ” Mr, Mark Meadows, Josh Holmes, Kushner, — Mr, Mitt Romney, Lisa Murkowski, Lindsey Graham, Sean Hannity, Lindsey Graham of, Sean Hannity’s, — I’ve, Let’s, Graham, Pat A, Axios, Brendan Smialowski, “ Hannity, Thomas, Jenna Ellis, Matt Morgan, Al Gore, George W, Bush, Brooks, Stefan Passantino, Powell, Lynsey Weatherspoon, Gore, William H, Rehnquist, Giuliani —, Kris Kobach, Mark Martin, Lawrence Joseph, Kobach, Uncle Sam, Mr . Biden, Ken Paxton, Jeffrey M, Landry, Paxton, Kyle D, Hawkins, Jacquelyn Martin, Joseph, Richard L, Chris Carr, Carr, Mike Johnson of, Mike Johnson, McCarthy, Privately, Ted Cruz of, John Sauer, ’, ” James E, Nicolai, North, Wayne Stenehjem, Stenehjem, Wayne, Tasos Katopodis, MAGA, Marjorie Taylor Greene, Marsha Blackburn of, Ms, Blackburn, Amy Kremer, Ann Stone, Roger Stone, Amy Coney Barrett, Kremer’s, Kylie Jane Kremer, Jennifer Lawrence, Dustin Stockton, Lawrence, Stockton, I’ve, Lindell, they’d, Taylor, Greg Locke, Covid, Michael McKinney, Tucker Carlson, Carlson’s, “ Donald Trump, ” Ms, Meadows, Georgia runoffs, Byrne, Cipollone, he’d, Martin, Mike Pence, reconvene, ” Kylie Kremer, James Yeager, Kylie Kremer, Yeager’s, Lawrence whooped, John Kennedy, James Lyle, Josh Hawley, “ You’ve, Lyle, Couy Griffin, Kennedy, Pete Marovich, Kremer, Julie Jenkins Fancelli, Alex Jones, Caroline Wren, Kimberly Guilfoyle, Donald Trump Jr, Katrina Pierson, Brad Raffensperger, Jeffrey A, Rosen, Department’s, Jeffrey Clark, Scott Perry, Hawley, Cruz, Year’s, Tom Cotton of, Cotton, Cindy Chafian, Chafian, Jones, Stone, Locke, Jan, “ You’ll, Gosar, Griffin, Robert O’Brien, I’m, ’ ”, Kenny Holston, Donald Trump, ” Mark Walker, Ben Margot, Stefani Reynolds, Samuel Corum, Erin Schaff, David J, Ted Cruz, John Bazemore Organizations: Twitter, Dominion Systems, Trump, Biden, Dominion, New, New York City, The New York Times, Senate, New York, Republican Party, Capitol, White, Times, The Times, America News Network, Fox, America, Boys, New York Times, American, Air Force, Electoral College, Republicans, Joe Biden’s Democratic Party, Republican, Facebook, Democrats, Associated Press, “ Fox & Friends, White House, West Wing, “, Federal Bureau of Investigation, Veritas, Justice Department, Postal Service, York Daily, Agence France, Zignal Labs, Amistad, Thomas More Society, Mr, Electoral, Supreme, Lawyers, General Association, Associated, State, University of California, Republican House, Women, Tea Party, Trump -, Breitbart, of, Credit, SPAN, Tea Party Express, Republican National Committee, Internet, Army, Des Moines Register, Marine, General Services Administration, Swedish, Cowboys, Capitol ., Street Journal, Save, General Association ., Law Defense Fund, Freedom, Coalition, Proud Boys, Willard, Homeland Security, Party, Getty, Georgia Electoral College Locations: Detroit, Arizona, Georgia, New York, America, China, Trump, Grand Rapids, Mich, Philadelphia, Atlanta, Milwaukee, Santa Cruz ,, Arizona —, Russia, North Vietnam, United States, Roy Blunt of Missouri, Kentucky, Utah, Alaska, Lindsey Graham of South Carolina, Erie, Pa, Pennsylvania, Long, Bush, Florida, tightest, Kansas, North Carolina, Ken Paxton of Texas, Texas, State of Texas, Michigan, Wisconsin, Irvine, Mike Johnson of Louisiana, Ted Cruz of Texas, Missouri, Washington, Marsha Blackburn of Tennessee, Trump’s, Hudson, Stockton, Tennessee, Des Moines, Meadows, White, fistfights, Nashville, West Monroe, La, Louisiana, drumbeating, Tom Cotton of Arkansas, Delaware

☆ US Senator Manchin outlines vision for 2024 election
▼ + stars: | 2023-07-18 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsUS Senator Manchin outlines vision for 2024 electionPostedMaverick Democratic Senator Joe Manchin on Monday (July 17) said he believed that having a third-party candidate run in the 2024 U.S. presidential election would "threaten" the two major political parties into leaning towards more moderate positions as their only path to victory. Joel Flynn reports.

Persons: Manchin, Joe Manchin, Joel Flynn Organizations: Maverick Democratic

☆ Smartmatic subpoenas Flynn, Bannon in defamation lawsuits against Fox News and Newsmax
▼ + stars: | 2023-07-17 | by ( Marshall Cohen | ) edition.cnn.com time to read: +2 min

CNN —Trump allies Michael Flynn and Steve Bannon have been subpoenaed by Smartmatic as part of the voting technology company’s massive defamation lawsuits against Fox News and Newsmax over their promotion of 2020 election lies. Court filings made public last week in New York and Delaware indicate that Flynn and Bannon were hit with subpoenas, demanding that they sit for depositions and answer questions under oath. Fox News and Newsmax deny wrongdoing and are fighting the lawsuits. Both Flynn and Bannon played a key role in Trump’s attempts to overturn his 2020 election defeat. Bannon was federally indicted in a fraud scheme in 2020, through Trump pardoned him before trial.

Persons: CNN — Trump, Michael Flynn, Steve Bannon, Smartmatic, Flynn, Bannon, Trump, Donald Trump, Fox News –, Trump’s Organizations: CNN, Fox News, Republican, Fox, Systems, Electoral College, Trump, FBI, Trump - Locations: New York, Delaware, Florida, Washington

☆ Fossils Where They Don’t Belong? Maybe We Just Didn’t Look Hard Enough.
▼ + stars: | 2023-07-16 | by ( Anthony Ham | ) www.nytimes.com time to read: +1 min

Among dinosaur bones and sandy sediment there emerged a 167-million-year-old tiny jaw fragment with three teeth. It belonged to Ambondro mahabo, a species that was 25 million years older than any mammal of its kind ever found. At the time, what was known of the fossil record pointed overwhelmingly to the conclusion that modern mammals’ forerunners arose in the Northern Hemisphere. But a review of existing fossil holdings published last year in the journal Alcheringa sought to turn decades of paleontological wisdom on its head. After an exhaustive study of skulls, jaws and teeth, a team of Australian paleontologists presented their conclusion that modern mammals originated in the Southern Hemisphere.

Persons: Ambondro, ”, John Flynn, Frick Organizations: Northern, Southern Hemisphere, American Museum of Locations: Madagascar, New York

☆ Oil prices rise on cooling US inflation, China trade data
▼ + stars: | 2023-07-13 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

SINGAPORE, July 13 (Reuters) - Oil prices climbed on Thursday after U.S. inflation and economic data sparked hopes that the Federal Reserve may have fewer interest rate hikes in store and Chinese trade figures showed monthly oil imports were the second-highest on record in June. Brent crude futures gained 21 cents, or 0.3%, to $80.32 per barrel by 0630 GMT, while U.S. West Texas Intermediate crude futures were up 13 cents, or 0.2%, at $75.88. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years. Markets expect one more interest rate rise, but oil traders hope that may be it because higher rates can slow economic growth and reduce oil demand. Crude oil imports for January-June were up 11.7% at 282.1 million metric tons, while refined oil products exports for January-June were up 44.7% at 31.31 million metric tons, customs data showed.

Persons: Jun Rong, Yeap, Phil Flynn, Jeslyn Lerh, Laura Sanicola, Jamie Freed, Jacqueline Wong Organizations: Federal, Brent, U.S, West Texas, IG, Administration, Customs, U.S . Energy, Price Futures, Thomson Locations: SINGAPORE, U.S, Singapore, Washington

July 13 (Reuters) - Oil prices rose in early Asian trade on Thursday after U.S. inflation and economic data sparked hopes the Federal Reserve may have fewer interest rate hikes in store for the world's biggest economy. Brent crude futures rose 6 cents to $80.17 per barrel by 0004 GMT and U.S. West Texas Intermediate crude futures were up 4 cents, or $75.79. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years. Markets expect one more interest rate rise, but oil traders hope that may be it because higher rates can slow economic growth and reduce oil demand. Top producer Saudi Arabia pledged last week to extend a production cut of 1 million barrels per day (bpd) in August, while Russia will cut exports by 500,000 bpd.

Persons: Phil Flynn, Laura Sanicola, Jamie Freed Organizations: Brent, . West Texas, Saudi, U.S . Energy, Administration, Price Futures, Thomson Locations: Saudi Arabia, Russia, U.S

☆ Oil prices rise in early trade as U.S. inflation cools
▼ + stars: | 2023-07-13 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose in early Asian trade on Thursday after U.S. inflation and economic data sparked hopes the Federal Reserve may have fewer interest rate hikes in store for the world's biggest economy. Brent crude futures rose 6 cents to $80.17 per barrel by 0004 GMT and U.S. West Texas Intermediate crude futures were up 4 cents, or $75.79. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years. Markets expect one more interest rate rise, but oil traders hope that may be it because higher rates can slow economic growth and reduce oil demand. Top producer Saudi Arabia pledged last week to extend a production cut of 1 million barrels per day, or bpd, in August, while Russia will cut exports by 500,000 bpd.

Persons: pumpjack, Phil Flynn Organizations: Brent, . West Texas, Saudi, U.S . Energy, Administration, Price Futures Locations: Bakersfield, Kern County , California, USA, Saudi Arabia, Russia, U.S

[1/2] Former U.S. President Donald Trump's White House chief strategist Steve Bannon attends his arraignment at the New York Criminal Courthouse in New York, U.S., September 8, 2022. Steven Hirsch/Pool via REUTERS/File PhotoJuly 12 (Reuters) - Steve Bannon and Michael Flynn, two allies of former U.S. President Donald Trump, must answer questions under oath in voting technology company Smartmatic's defamation lawsuit against right-wing media outlet Newsmax, court records showed on Wednesday. Florida-based Smartmatic served subpoenas on Bannon, who served as a White House strategist under Trump, and Flynn, who briefly served as national security adviser, on Wednesday, according to documents filed in Delaware state court. Bannon and Flynn representatives did not immediately respond to requests for comment, nor did Smartmatic and Newsmax. Bannon, an influential figure on the American right, worked on Trump's 2016 campaign and later in the White House.

Persons: Donald Trump's, Steve Bannon, Steven Hirsch, Michael Flynn, Donald Trump, Smartmatic, Bannon, Flynn, Joe Biden, Trump, Mike Pence, Jack Queen, Will Dunham Organizations: U.S, House, New, Criminal, Trump, Democratic, Fox, Fox News, Fox Corp, Dominion Voting Systems, Capitol, U.S ., Army, White House, FBI, Thomson Locations: New York, U.S, . Florida, Delaware, Russian, United States

July 12 (Reuters) - Oil prices settled higher on Wednesday, with benchmark Brent futures breaching $80 a barrel for the first time since May, after U.S. inflation data spurred hopes the Federal Reserve may have fewer interest rate hikes in store for the world's biggest economy. U.S. data showed consumer prices rose modestly in June and registered their smallest annual increase in more than two years. Markets expect one more interest rate rise, but oil traders hope that may be it. Brent futures settled up 71 cents, or 0.9%, to $80.11 a barrel. Forecasts from the U.S. Energy Information Administration (EIA) and the International Energy Agency (IEA) point to the market tightening into 2024.

Persons: Naeem Aslam, Brent, Tamas Varga, Phil Flynn, Natalie Grover, Trixie Yap, Sonali Paul, Barbara Lewis, Emelia, David Gregorio Our Organizations: Zaye, . West Texas, U.S . Energy Information Administration, International Energy Agency, IEA, Saudi, U.S . Energy, Administration, Price Futures, Thomson Locations: China, Saudi Arabia, Russia, U.S, London

A concrete patio was washed into a brook behind a home after flash flooding left widespread damage to the downtown in Highland Falls, N.Y., on Monday, July 10, 2023. Ms. Dagaev looked outside. Ms. Dagaev was unsteady on her feet on dry land. She called her friend, Laurie Tautel, the county legislator, who was just minutes away on Main Street in Highland Falls. “You’ve got to get me out of here!” Ms. Dagaev shouted.

Persons: Katharine Dagaev, Dagaev, Younger, Pat Flynn, Flynn, they’re, “ Let’s, Mr, couldn’t, Laurie Tautel, Tautel, “ You’ve, “, ”, ’ Organizations: “, Credit, Firefighters Locations: Highland Falls, N.Y, Highland, Hudson, New York, West Point

☆ When the Water Rushed In, Help Rushed Over
▼ + stars: | 2023-07-10 | by ( Michael Wilson | More About Michael Wilson | ) www.nytimes.com time to read: +1 min

But terrified residents watching water climb in their homes had no way of knowing when or if help would arrive. It was like a river had been diverted, running now through the middle of the four small buildings that are the Weyant Green Apartments in the village of Highland Falls. Younger relatives were trying to help, but the nearby bridge was covered by several feet of rushing water, and they couldn’t get to the property. Pat Flynn, a former mayor of Highland Falls, made it over in his Explorer with a friend worried for her mother. He saw older men and women — the ones who could stand — cowering in their doorways as water rose up their legs.

Persons: Dagaev, Younger, Pat Flynn Locations: Hudson, New York, Highland Falls, Highland

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