Europes Energy Crisis Leaves Almost All Of Pakistan Without Power

The long-awaited winter energy crisis has finally hit but it wasn’t in Europe after all. On Monday, almost the entirety of Pakistan was left without power when a misguided energy-saving strategy by the government backfired. Runaway inflation, a severely weakened currency, and rapidly emptying foreign exchange reserves have left Pakistan on the brink of economic collapse. The country of 230 million people is plagued by overdue energy payments and was seeking to cut costs by lowering energy use when the plan went off the rails, leaving

Read more at: https://oilprice.com/Energy/Energy-General/Europes-Energy-Crisis-Leaves-Almost-All-Of-Pakistan-Without-Power.html

Hess Earnings Outshine With New Guyana Discovery

Fourth-quarter earnings on Wednesday saw Hess Corporation (NYSE:HES) soundly beat Wall Street estimates, with another discovery offshore Guyana playing a significant role in the company’s newly revealed $3.7-billion spending plan for 2023. In its Q4 2022 financial and operational highlights, Hess reported a net income of $624 million ($2.03 per common share), up from $265 million net income for the same period in 2021. On an adjusted basis, Q4 earnings came in at $1.78 per share. Hess also returned $405 million in cash to shareholders

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Hess-Earnings-Outshine-With-New-Guyana-Discovery.html

Britains Nuclear Industry Calls For More Government Support

Britains nuclear industry is taking part in a growing chorus from the energy industry for more government support and more clarity regarding its future, the industry told British Parliament on Wednesday, according to Bloomberg. The oil and gas industry began singing the tune calling for a clearer future and additional government support over the last couple of years. Particularly in the United States, U.S. oil companies balked at government-led criticism that they were not doing enough to invest in oil production growth. The Biden Administration

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Britains-Nuclear-Industry-Calls-For-More-Government-Support.html

Russia Races To Ramp Up Arms Production, Even If It Cripples Its Economy

While the issues with arms manufacturing in Russia have been covered in a number of analyses, production remains a serious challenge for the Russian defense industry as the Kremlin continues to search for answers to solve the problem of restoring its military power for its war against Ukraine (see EDM, July 7, October 31, November 17, 2022). Over the past two weeks, several actions demonstrate that Russia’s defense industry faces persistent troubles with increasing arms production rates. To begin with, Dmitry Medvedev, deputy chair of the

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Races-To-Ramp-Up-Arms-Production-Even-If-It-Cripples-Its-Economy.html

India Plans To Double Domestic Coking Coal Output By 2030

Via AG Metal Miner For now, trade relations between Australia and China are sketchy at best. Therefore, Australia has started looking for other markets to ship commodities like ore and coking coke, one such market being India. However, over the past few months, the world has learned that many Indian steel mills have replaced costlier Australian coking coal with alternatives. Data from the Indian Trade Ministry shows that the country had imported a huge bulk of its coke from countries like Indonesia, Russia, and the US.

Read more at: https://oilprice.com/Energy/Coal/India-Plans-To-Double-Domestic-Coking-Coal-Output-By-2030.html

Equinor Looks To Offload $1 Billion In Nigerian Oil Assets

Equinor has hired Standard Chartered to assist in a sale of the Norwegian energy majors stake in an offshore oilfield in Nigeria, industry sources told Reuters on Wednesday, in what could be the latest attempt of a major oil firm to divest operations in the African OPEC member. The potential sale of Equinors 20% stake in the Agbami field offshore Nigeria could fetch up to $1 billion, according to Reuters sources. Equinor is reportedly looking to sell its Nigerian oilfield stake to focus on more profitable and newer

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Equinor-Looks-To-Offload-1-Billion-In-Nigerian-Oil-Assets.html

Southwest CEO maps out a recovery after holiday meltdown: ‘We have work to do’

Southwest said it canceled about 16,700 flights between Dec. 21 through Dec. 31, failing to recover from severe winter weather.

Read more at: https://www.cnbc.com/2023/01/25/southwest-airlines-tries-to-improve-its-system-after-holiday-meltdown.html

Inflation is cooling, but prices on many items are going to stay high for months

As costs fall, some companies are still locked into long-term contracts or are boosting profits rather than lowering prices.

Read more at: https://www.cnbc.com/2023/01/25/inflation-is-cooling-but-high-prices-will-stick-around.html

How Tesla’s price cuts could spur an EV pricing war

Tesla’s price cuts make the vehicles more affordable and likely eligible for federal EV tax credits but tank the resale values of cars for current owners.

Read more at: https://www.cnbc.com/2023/01/25/teslas-price-cuts-could-spur-an-ev-pricing-war.html

NY AG Letitia James presses MSG over use of facial recognition technology

New York Attorney General Letitia James pressed MSG Entertainment over its reported use of face scans to block certain lawyers from entering venues.

Read more at: https://www.cnbc.com/2023/01/25/letitia-james-presses-msg-facial-recognition-tech.html

Boeing posts quarterly loss as labor and supply strains overshadow increase in jet demand

Boeing’s orders and deliveries rose last year as travel rebounded.

Read more at: https://www.cnbc.com/2023/01/25/boeing-ba-earnings-q4-2022.html

Rocket Lab establishes new U.S. foothold with successful launch after years of delays

The mission was Rocket Lab’s 33rd to date, but the first from U.S. soil. The company has been regularly launching from private launchpads in New Zealand.

Read more at: https://www.cnbc.com/2023/01/25/rocket-lab-us-launch-success.html

AT&T shares jump as subscriber growth tops analyst expectations

CEO John Stankey dismissed the idea that the phone carrier industry is in a pricing war.

Read more at: https://www.cnbc.com/2023/01/25/att-subscriber-growth-stock.html

Estee Lauder’s latest Wall Street endorsement underscores our long-held view on the company

Piper Sandler on Wednesday said it sees considerable upside for Club holding Estee Lauder (EL) as China’s long-awaited economic reopening drives pent-up demand.

Read more at: https://www.cnbc.com/2023/01/25/estee-lauders-latest-wall-street-endorsement-underscores-our-view.html

Making America’s semi-trucks

Four manufacturers dominate the market for large semi-trucks, led by Daimler Trucks’ Freightliner brand. But the business is facing challenges from the outside.

Read more at: https://www.cnbc.com/2023/01/25/making-americas-semitrucks.html

Stocks making the biggest moves midday: Sunrun, U.S. Bancorp, Alphabet, AT&T and more

These are the stocks posting the largest moves midday.

Read more at: https://www.cnbc.com/2023/01/25/stocks-making-the-biggest-moves-midday-sunrun-us-bancorp-alphabet-att-and-more.html

Jim Cramer’s Investing Club meeting Wednesday: Microsoft, P&G, Estee Lauder

The Investing Club holds its “Morning Meeting” every weekday at 10:20 a.m. ET.

Read more at: https://www.cnbc.com/2023/01/25/jim-cramers-investing-club-meeting-wednesday-microsoft-pg.html

Why Live Nation and Ticketmaster dominate the live entertainment industry

Consumers are calling for the Live Nation and Ticketmaster monopoly to end. Here’s how they became the dominant force in the live entertainment business.

Read more at: https://www.cnbc.com/2023/01/25/the-live-nation-and-ticketmaster-monopoly-of-live-entertainment.html

Wind Turbines Are Burning, Collapsing in Green Energy Setback

No one’s been killed or injured — yet — but a rash of wind turbine failures is jarring a key cornerstone of the green energy movement, according to a new Bloomberg report.

The unwelcome trend of malfunctions — which includes both breakdowns and total structural collapses — is being witnessed in the United States and Europe alike. As this rare 2008 video of a collapse indicates, the phenomenon isn’t brand new, but insiders say the frequency is spiking.

The Hornslet Wind Turbine Collapse was a spectacular collapse of a wind turbine on February 22, 2008 and it is one of only a few structural collapses that have been captured on film https://t.co/LN4TwJHJMT | https://t.co/4i52AUyIPV pic.twitter.com/mLLz8PJp4w

— Massimo (@Rainmaker1973) February 10, 2020

Perhaps most disturbingly, recently-manufactured windmills are among the latest string of casualties. “We’re seeing these failures happening in a shorter time frame on the newer turbines, and that’s quite concerning,” Fraser McLachlan, CEO of GCube Underwriting Ltd tel …

Read more at: https://www.zerohedge.com/energy/wind-turbines-are-burning-collapsing-green-energy-setback

Seattle Medical Examiner Running Out Of Space To Store Bodies Due To Fentanyl Overdoses: Official

Authored by Jack Phillips via The Epoch Times (emphasis ours),

The health director of the Washington county that encompasses Seattle confirmed the medical examiner’s office is struggling to store bodies due to rampant fentanyl overdoses across the city.

“A key indication of just how bad things are at the end of 2022, and likely to get worse and 2023, the medical examiner’s office is now struggling with the issue of storing bodies because the fentanyl-related death toll continues to climb,” Seattle-King County Public Health Director Dr. Faisal Khan said during a board meeting last week, captured on video by conservative local radio host Jason Rantz.

Read more at: https://www.zerohedge.com/political/seattle-medical-examiner-running-out-space-store-bodies-due-fentanyl-overdoses-official

Tesla Earnings Preview: Focus Is On Margins And Guidance

Twitter will report earnings after the bell today, in what will be one of the most anticipated earnings reports of the company’s tenure as a publicly traded entity. Tesla shares have rebounded slightly over the past 2 weeks after plunging for most of 2022 and the beginning of 2023.

Focus will be on the company’s lackluster Q4 delivery figures which, although they were record numbers, fell short of Wall Street expectations. There will also be a looming question about margins with Tesla’s recent price cuts, though pressure from the sales may not show up until Q1 2023 figures.

Wall Street is expecting Q4 Revenue of $24.07 billion and Q4 Adjusted EPS of $1.13. To put that expectation in context with TSLA’s share price:

Additional estimates, provided by Bloomberg, include:

Revenue estimate $24.07 billion

Free cash flow estimate $3.12 billion

Automotive gross margin estimate +28.4%

Gross margin est …

Read more at: https://www.zerohedge.com/markets/tesla-earnings-preview-focus-margins-and-guidance

Only 14% Of Americans Agree With Amnesty For Illegals; New Poll Finds

Authored by Steve Watson via Summit News,

A poll has found that the vast majority of Americans do not agree that there should be a blanket amnesty for immigrants who have crossed the border into the United States illegally.

The survey, conducted by The Trafalgar Group in partnership with Convention of States Action, found that only fourteen percent agreed that citizenship should be granted to those have have entered illegally.

A total of 59.5 percent of Americans said that “those in review should complete their reviews and either be removed or granted asylum, and those here illegally should be expelled.”

Read more at: https://www.zerohedge.com/political/only-14-americans-agree-amnesty-illegals-new-poll-finds

Premium Bond prize rate set to hit highest for 14 years

The boost from next month comes as analysts warn the peak in savings rates may be approaching.

Read more at: https://www.bbc.co.uk/news/business-64399663?at_medium=RSS&at_campaign=KARANGA

Amazon strikes: Workers claim their toilet breaks are timed

As UK Amazon workers strike for the first time, staff in Coventry tell the BBC why they are walking out.

Read more at: https://www.bbc.co.uk/news/business-64384287?at_medium=RSS&at_campaign=KARANGA

Emma Thompson and Aisling Bea urge UK banks to stop financing fossil fuels

Emma Thompson and Aisling Bea back campaign to stop banks financing new oil, gas, and coal projects.

Read more at: https://www.bbc.co.uk/news/business-64399747?at_medium=RSS&at_campaign=KARANGA

Patanjali Q3 Results: PAT rises 15% YoY to Rs 269 crore, but profitability hit by costs

Operating profit, calculated as earnings before interest and tax, depreciation and amortization (EBITDA), declined 12.4% on-year to Rs 368 crore, while margin contracted a sharp 205 basis points to 4.64%

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/patanjali-q3-results-pat-rises-15-yoy-to-rs-269-crore-but-profitability-hit-by-costs/articleshow/97320901.cms

After 12 quarters, FIIs make a comeback in this IT stock; what’s changed the mood?

While announcing its September quarter earnings, HCL Tech had raised the constant currency revenue growth guidance to 13.5-14.5% for FY23. But 2 months later, it said that growth is likely to be at the lower end of this range.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/after-12-quarters-fiis-make-a-comeback-in-this-it-stock-whats-changed-the-mood/articleshow/97300864.cms

IHC, ADIA among bidders for Adani’s $2.5 billion share sale

Mubadala Investment Co PJSC, BNP Paribas SA have also bid, the people said, asking not to be identified as the details aren’t public. The so-called anchor book for Adani Enterprises Ltd. was oversubscribed by 1.8-2 times, the people added.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/ihc-adia-among-bidders-for-adanis-2-5-billion-share-sale/articleshow/97300706.cms

Earnings Results: Kimberly-Clark CEO says ‘mind-blowing’ news in the ‘poop’ category is coming in the second half

Kimberly-Clark’s profit guidance for 2023 is way below consensus. Margins are to blame, says Bernstein.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7186-2A8A1C621AF1%7D&siteid=rss&rss=1

More than 59,000 global tech-sector employees have lost jobs in 2023: layoff-data tracker

The data suggest 2023 is on pace to surpass 2022 for global tech redundancies

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7185-C26CFBE056D1%7D&siteid=rss&rss=1

After United Airlines win, Boeing is involved in ‘more big orders,’ CEO says

Boeing recently clinched a major deal with United Airlines for hundreds of its jets.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7186-365BBA29C131%7D&siteid=rss&rss=1