25Apr2022 Market Close & Major Financial Headlines: Elon Musk Buys Twitter for $44bn

Is This The Beginning Of The End For Colombia’s Oil Industry?

Colombia’s economically crucial petroleum industry, which has been under pressure for some time from a combination of weaker oil prices and low proven reserves, is struggling to recover from the COVID-19 pandemic. The latest data from Colombia’s Ministry of Energy shows that crude oil production volumes remain below pre-pandemic lockdown levels, while foreign energy investment is weak despite government initiatives to reactivate the vital hydrocarbon sector. There are signs of further difficulties ahead for the Andean countrys

Read more at: https://oilprice.com/Energy/Energy-General/Is-This-The-Beginning-Of-The-End-For-Colombias-Oil-Industry.html

China Becomes Driving Force In Hot Aluminium Market

Don’t worry this isn’t another reds-under-the-bed story. Rather, its a look into how Chinese aluminum semis are quickly becoming the markets main price setting (at least in Europe). With Russia more or less out of the picture and domestic mills booked up for months, China is the only swing producer with capacity to spare. How will all this affect the aluminum price forecast? Its a conversation many industry insiders are having. Increased Costs and Limited Capabilities The current European marketplace

Read more at: https://oilprice.com/Energy/Energy-General/China-Becomes-Driving-Force-In-Hot-Aluminium-Market.html

The Huge Environmental Impact Of Kyrgyzstan’s New Eco-City

Kyrgyz officials say they have signed a contract with foreign investors to start building an “eco-city” near the picturesque shores of Lake Issyk-Kul in the country’s north, despite concerns the multibillion-dollar project could harm the environment. The head of the Asman Eco-City of the Future project, Ruslan Akmataliev, said three French companies — Finentrep Aspir, MEDEF, and Mercuroo — had pledged to invest about $5 billion for the first phase of the ambitious $20 billion project. He said the contract was signed by Kyrgyz President Sadyr

Read more at: https://oilprice.com/Latest-Energy-News/World-News/The-Huge-Environmental-Impact-Of-Kyrgyzstans-New-Eco-City.html

Can Lebanon Repair Its Failing Energy Sector?

After losing energy for 24 hours in 2021, Lebanon has continued to face severe energy shortages due to years of poor investment in infrastructure that has led many to rely on polluting diesel generators for their power. The Lebanese population gets between one and two hours of electricity a day at present, and with ongoing political instability, there is little hope of this changing any time soon. So, how might Lebanon repair its failed energy sector? Lebanons economic crisis started in 2019 after excessive spending led to increased

Read more at: https://oilprice.com/Energy/Energy-General/Can-Lebanon-Repair-Its-Failing-Energy-Sector.html

Europe Buys Abu Dhabi Crude To Replace Russian Barrels

Abu Dhabi crude is preparing to make its way to Europe for the first time in two years as the European Union seeks replacements for Russian oil, Reuters reports. In May 2020, a shipment of Abu Dhabi crude was loaded for Italy, and there have been so shipments since, according to Arab News, citing Refinitiv Eikon data. According to Reuters, citing shipping reports, France Total Energies has provisionally chartered a tanker to load Abu Dhabi crude in early May, bound for Europe. A total of 1 million barrels of Murban crudeone

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Europe-Buys-Abu-Dhabi-Crude-To-Replace-Russian-Barrels.html

Ford Expects Combustion Engine Production To Continue “Until 2040”

Although Ford Motor Company is aggressively pushing into the electric vehicle market, the Detroit-based auto manufacturer has zero plans to give up on the internal combustion production engine for several decades. According to Windsor Star, who spoke with John D’Agnolo, the president of Unifor Local 200, which leads workers at Ford’s Windsor, Ontario, Canada engine plant, the production of combustion engines will continue through 2040. D’Agnolo said he recently spoke with Ford vice president of Americas manufacturing John Savona and vice

Read more at: https://oilprice.com/Energy/Energy-General/Ford-Expects-Combustion-Engine-Production-To-Continue-Until-2040.html

Powerball’s next jackpot is $421 million. Here’s how much winners have hauled in over the years

With the steep odds against a single ticket hitting the jackpot, there have been fewer than 400 grand prize winners in 30 years.

Read more at: https://www.cnbc.com/2022/04/25/powerball-jackpots-how-much-winners-have-hauled-in-over-the-years.html

SpaceX returns private Ax-1 astronaut crew to Earth after extended space station stay

SpaceX’s Crew Dragon capsule Endeavour splashed down in the Atlantic Ocean, off the coast of Jacksonville, Florida, with the Ax-1 crew onboard.

Read more at: https://www.cnbc.com/2022/04/25/spacex-ax-1-splashdown-private-axiom-astronaut-crew-returns-from-iss.html

Stocks making the biggest moves midday: Twitter, AMD, Deere, Verizon and more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2022/04/25/-stocks-making-the-biggest-moves-midday-twitter-amd-deere-verizon-and-more.html

New York judge holds Donald Trump in contempt for failing to comply with subpoena for business documents

Donald Trump will have to pay $10,000 a day as a result of the contempt order, until he produces documents sought by New York Attorney General Letitia James.

Read more at: https://www.cnbc.com/2022/04/25/judge-holds-donald-trump-in-contempt-for-failing-to-comply-with-ny-subpoena.html

Ford beefs up F-150 Lightning production in a forceful bid to dominate the electric pickup market

“In this market, being a first mover is a very, very important move,” Ford CEO Jim Farley told CNBC.

Read more at: https://www.cnbc.com/2022/04/25/ford-f-150-lightning-electric-pickup-could-win-first-mover-advantage.html

Satellite-imagery specialist Capella raises nearly $100 million in network expansion

The company’s business is based on combining a special type of imagery — known as synthetic aperture radar, or SAR — with a small, inexpensive spacecraft.

Read more at: https://www.cnbc.com/2022/04/25/capella-space-raises-97-million-to-expand-satellite-data-products.html

Are you dreaming of an early retirement? The earlier you retire, the greater the risk, experts warn

Early retirement may be a dream but it comes with risks and for all but the wealthiest Americans — and the earlier you retire, the greater the risk.

Read more at: https://www.cnbc.com/2022/04/25/heres-why-you-may-want-to-think-twice-about-that-early-retirement-plan.html

GM says it will produce electric Chevrolet Corvettes

GM will produce an electrified Chevrolet Corvette next year, followed by an all-electric version of the iconic sports car, according to President Mark Reuss.

Read more at: https://www.cnbc.com/2022/04/25/gm-says-it-will-produce-electric-chevrolet-corvettes.html

5 things to know before the stock market opens Monday

U.S. stock futures pointed to sharp declines on Wall Street to start the new week after Friday’s plunge.

Read more at: https://www.cnbc.com/2022/04/25/5-things-to-know-before-the-stock-market-opens-monday-april-25.html

Stocks making the biggest moves premarket: Twitter, Coca-Cola, Warner Bros. Discovery and more

These are the stocks posting the largest moves in premarket trading.

Read more at: https://www.cnbc.com/2022/04/25/stocks-making-the-biggest-moves-premarket-twitter-coca-cola-warner-bros-discovery-and-more.html

GE hoping to 3D print concrete components for wind turbines so it can save on transportation costs

A grant from the U.S. Department of Energy has helped support research at the site.

Read more at: https://www.cnbc.com/2022/04/25/ge-hoping-to-3d-print-concrete-components-for-wind-turbines.html

Central banks need to put rates into the ‘pain zone’ — but the Fed won’t do it, fund manager says

Overcoming doggedly high inflation will require interest rates to be pushed into the “pain zone,” Man Group has said.

Read more at: https://www.cnbc.com/2022/04/25/man-group-central-banks-to-put-rates-in-pain-zone-to-fight-inflation-.html

SpaceX’s Starlink to provide Wi-Fi on Hawaiian Airlines flights with free service for passengers

Hawaiian is the first major carrier to sign a deal for Wi-Fi from Elon Musk’s SpaceX.

Read more at: https://www.cnbc.com/2022/04/25/spacex-signs-hawaiian-airlines-for-free-starlink-wi-fi-on-flights.html

Big-Tech & Bitcoin Shrug Off Beijing Bloodbath; Bond Yields, Bullion, & Black Gold Battered

Big-Tech & Bitcoin Shrug Off Beijing Bloodbath; Bond Yields, Bullion, & Black Gold BatteredChinese stocks were Johnny-Depp’d overnight amid extended lockdowns, record COVID cases and deaths (worst month since 2016)…

Source: Bloomberg

No signs of The National Team at all (even as China cuts FX reserve ratio).

But US equities held it all together until the cash open when everything puked (except Nasdaq). That drop in stocks caught a bid as Europe closed (surprise surprise) and rallied back to unch (Nasdaq outperformed) and the TWTR news seemed to spur stocks even higher with everything turning green and Nasdaq leading the charge…

Read more at: https://www.zerohedge.com/markets/us-big-tech-shrugs-beijing-bloodbath-bond-yields-bullion-black-gold-battered

Russia Ramps Up Attacks On Ukraine Rail Lines To Thwart NATO Arms Shipments

Russia Ramps Up Attacks On Ukraine Rail Lines To Thwart NATO Arms ShipmentsThe Russian military is ramping up efforts to thwart Western arms deliveries into Ukraine, on Monday striking at least six railway stations and facilities. In a statement late in the day the Russian Ministry of Defense (MoD) confirmed it attacked the locations, including taking out train tracks and transport lines, as they were being used “to supply Ukrainian forces with foreign weapons,” according to state RIA.

Earlier in the day Ukrainian Railways authority head Oleksander Kamyshin had confirmed that five of the stations were hit, saying there were at this point uknown numbers of casualties, during what was described as an “unusually long” continuous air raid that lasted a reported two hours Monday morning.

File image: Ukrainian military transport train, via MilitaryImages.netUkraine’s military command saw it as part of ongoing Russian efforts to completely disable the country’s military transport infrastructure, specificall …

Read more at: https://www.zerohedge.com/military/russia-ramps-attacks-ukraine-rail-lines-thwart-nato-arms-shipments

Financial Markets Brace For Stagflation As Global Growth Optimism Sinks

Financial Markets Brace For Stagflation As Global Growth Optimism SinksAuthored by Andrew Moran via The Epoch Times (emphasis ours),

Waning optimism over global economic growth prospects and rising stagflation fears have prompted investors to seek shelter in investment hedges.

Flags are seen outside the New York Stock Exchange (NYSE) in New York City, where markets roiled after Russia continues to attack Ukraine, in New York, on Feb. 24, 2022. (Caitlin Ochs/Reuters)Earlier this month, the Bank of America’s (BofA) monthly survey of fund managers found that optimism about …

Read more at: https://www.zerohedge.com/markets/financial-markets-brace-stagflation-global-growth-optimism-sinks

“I Got Stopped Out A Lot” – Stocks Soar After Gartman Warns Market Will Tumble More Than 10% From Here

“I Got Stopped Out A Lot” – Stocks Soar After Gartman Warns Market Will Tumble More Than 10% From HereOne week ago, when we asked whether “it was time to turn bullish on stocks”, we listed several bullish catalysts as well as one rather bearish one: seven days after telling his bank’s retail clients he was taking profits (with stocks surging subsequently), JPM’s quant Marko Kolanovic flip-flopped and reverted back to what he had done every single week so far in 2022: tell clients to buy the dip…

… only instead of sounding like a broken record, Marko added some flair to his latest permabullish reco, and after asking rhetorically what should one buy, “Growth or Value?” he responded that one can “construct a ‘barbell portfolio’ of traditional growth (e.g., tech, bi …

Read more at: https://www.zerohedge.com/markets/i-got-stopped-out-lot-stocks-soars-after-gartman-warns-market-will-drop-more-10-here

Elon Musk strikes deal to buy Twitter for $44bn

Mr Musk, who made the shock bid just over a week ago, said he would “unlock” the social media firm’s potential.

Read more at: https://www.bbc.co.uk/news/business-61222470?at_medium=RSS&at_campaign=KARANGA

Twitter: Why Elon Musk has been so keen on taking control

The billionaire has called for a series of changes from relaxing Twitter’s content restrictions to eradicating fake accounts.

Read more at: https://www.bbc.co.uk/news/technology-61222793?at_medium=RSS&at_campaign=KARANGA

P&O Ferries hits back at staff pay cut claim

The firm says it has not asked recently-employed agency workers to sign new contracts with reduced wages.

Read more at: https://www.bbc.co.uk/news/business-61216840?at_medium=RSS&at_campaign=KARANGA

Bajaj Finance Q4 Preview: Expect another strong quarter with PAT growth of up to 80%

The Bajaj Group crown jewel is likely to report 33 per cent growth in NII, said analysts. They had a varied projection on profit growth for the quarter, in the range of 47-80 per cent YoY.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/bajaj-finance-q4-preview-expect-another-strong-quarter-with-pat-growth-of-up-to-80/articleshow/91079880.cms

As much-hyped IT stocks bleed, here’s what analysts are thinking

While benchmark equity indices have suffered so far in FY22, one of the biggest upsets for far in the year has been witnessed in the information technology space, a sector which outperformed the headline indices last year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/as-much-hyped-it-stocks-bleed-heres-what-analysts-are-thinking/articleshow/91068378.cms

What Netflix share price drop teaches us about valuation of Indian companies

Put differently, the entire drop in Netflix’s stock can be justified if you assume that the rate of growth (for the first decade) slows down from 40% per annum to 28% per annum and the risk-free rate rises from 1% to 3%. That’s it!

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/what-netflix-share-price-drop-teaches-us-about-valuation-of-indian-companies/articleshow/91069091.cms

The Margin: Twitter’s board accepts Elon Musk’s offer — and users are either celebrating ‘free speech’ or saying ‘RIP Twitter’

Elon Musk tweeted, ‘I hope that even my worst critics remain on Twitter, because that is what free speech means’

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C58-27C9CDDA09E2%7D&siteid=rss&rss=1

Twitter agrees to be bought by Elon Musk for $44 billion

Twitter Inc. agreed to sell itself to Elon Musk, changing course after initially gearing to fight the takeover attempt.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C55-545563534F5D%7D&siteid=rss&rss=1

Deep Dive: #RIPTwitter? These numbers show the company has plenty of life

Even if Elon Musk doesn’t purchase the company, analysts expect stellar sales and earnings growth for Twitter over the next two years.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C55-9F8C497A0664%7D&siteid=rss&rss=1