Azerbaijan Signs String Of Green Power Deals With International Investors

News that Azerbaijan’s state energy company SOCAR had last week signed an agreement with UAE energy giant Masdar to develop a massive 2 gigawatts (GW) of offshore wind and “green hydrogen” production should have been a cause for celebration. The more so since the agreement included a vaguer commitment for Masdar to develop a further 1 GW of onshore wind capacity and 1 GW of solar power, and subsequent statements by Azerbaijani officials about plans for yet more renewable power generation, “green hydrogen” production, and plans to export both electricity

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/Azerbaijan-Signs-String-Of-Green-Power-Deals-With-International-Investors.html

Belgium’s NLMK La Louvire Steel Mill To Remain Shut Until Summer

Via AG Metal Miner In steel news, Belgium’s NLMK La Louvire is unlikely to resume operations at one of its two hot rolling mills before summer in Belgium. NLMK shuttered the mill after a series of fires in late 2022 knocked it out. One of the two lines does not work at all, a source close to the plant told MetalMiner on Monday. The source also made it clear that two separate fires occurred at the plant in late December. This runs counter to the single fire reported by many steel news sources. Either way, the blazes prompted

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Belgiums-NLMK-La-Louvire-Steel-Mill-To-Remain-Shut-Until-Summer.html

Is The The Global Steel Industry In For Another Bumpy Year?

Via AG Metal Miner After weathering a bumpy ride throughout 2022, one of the world’s most traded commodities still isn’t out of the woods just yet. Though steel prices rose across the board over the past few weeks, mills around the world remain shuttered, and demand continues to fluctuate. Zero-COVID and limited energy across places like Europe are just some of the factors the steel industry endured over the past year. In the U.S., this was coupled with high-interest rates and a dollar that reached new highs before quickly retreating.

Read more at: https://oilprice.com/Metals/Commodities/Is-The-The-Global-Steel-Industry-In-For-Another-Bumpy-Year.html

Norway Could Limit Electricity Exports To Avoid Shortages

Norway announced on Friday measures to ensure its security of power supply and could limit some electricity exports to neighboring countries if there is a risk of shortages at home, the government said. The government plans to introduce a mechanism under which electricity producers from hydropower the most common power-generating source in Norway will be responsible for keeping water levels in reservoirs above certain levels. Producers will also be asked to report water reservoir levels on a regular basis, the

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Norway-Could-Limit-Electricity-Exports-To-Avoid-Shortages.html

U.S. House Passes Bill To Limit SPR Withdrawals

A bill designed to limit the Department of Energy’s ability to withdraw crude oil from the nation’s Strategic Petroleum Reserve has passed the House, although U.S. President Biden promised previously to veto it. U.S. representatives in the House voted to pass the bill known as The Strategic Response Act, H.R. 21, in a vote 221 to 205, gaining the support of a single Democratic lawmaker. The bill will now go to the Democrat-led Senate, where its passage will be much less certain. If it passes both houses and isn’t vetoed

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-House-Passes-Bill-To-Limit-SPR-Withdrawals.html

EU Expands Role In South Caucus With Armenia-Azerbaijan Border Mission

The EU will deploy a 100-strong monitoring mission to Armenia’s border with Azerbaijan for a term of two years, a more robust version of an earlier short-term mission that ended in December. The Armenian authorities had lobbied for and enthusiastically welcomed the move, seeing it as a deterrent against fresh Azerbaijani offensives. But it remains to be seen how an increasingly assertive Baku can be deterred by a mission of unarmed civilian observers. The move is opposed by Yerevan’s strategic ally Russia, which has a decades-long military presence

Read more at: https://oilprice.com/Geopolitics/International/EU-Expands-Role-In-South-Caucus-With-Armenia-Azerbaijan-Border-Mission.html

Bed Bath & Beyond defaults on credit line, warns it can’t pay down debts

Bed Bath & Beyond again warned of potential bankruptcy, saying it doesn’t have enough cash to pay down its debts.

Read more at: https://www.cnbc.com/2023/01/26/bed-bath-and-beyond-warns-it-doesnt-have-cash-to-pay-debts.html

Hasbro warns of weak holiday quarter results, cuts 15% of its workforce

Shares of toymaker Hasbro fell more than 6% in extended trading after the company said it would cut around 1,000 jobs and warned of weak fourth-quarter results.

Read more at: https://www.cnbc.com/2023/01/26/hasbro-stock-tanks-as-company-cuts-jobs-warns-of-weak-fourth-quarter.html

Southwest forecasts lingering losses as bookings slow in wake of holiday meltdown

Southwest expects a first-quarter loss because of current revenue and cost trends.

Read more at: https://www.cnbc.com/2023/01/26/southwest-airlines-luv-earnings-q4-2022.html

How ‘Skinamarink’ made $1.5 million on a $15,000 budget

“Skinamarink,” the indie horror film directed by Kyle Edward Ball, has become an unlikely viral hit at movie theaters.

Read more at: https://www.cnbc.com/2023/01/26/skinamarink-viral-horror-box-office.html

Audi’s new EV is a luxury SUV with augmented reality that doubles as a pickup

Audi’s new concept vehicle is an all-electric luxury SUV that uses augmented reality glasses and can double as a small pickup truck.

Read more at: https://www.cnbc.com/2023/01/26/audi-new-ev-suv-augmented-reality-pickup-truck.html

Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning

LVMH’s cautious optimism echoes positive comments earlier this month from Burberry and Swatch.

Read more at: https://www.cnbc.com/2023/01/26/lvmh-sees-chinese-luxury-shoppers-returning-boosting-2023-sales.html

NBCUniversal expects Peacock losses to peak this year as streamer slowly adds subscribers

Peacock losses will likely peak in 2023, as NBCUniversal invests further in its response to the streaming wars.

Read more at: https://www.cnbc.com/2023/01/26/peacock-losses-to-peak-this-year-slowly-adds-subscribers.html

Chipotle seeks to hire 15,000 restaurant workers ahead of busy spring months

Layoffs have hit white-collar workers, primarily in the tech industry, but low-wage retail and restaurant workers haven’t faced any large-scale cuts.

Read more at: https://www.cnbc.com/2023/01/26/chipotle-hiring-restaurant-workers-for-spring.html

Walmart-owned Sam’s Club plans to open about 30 new stores over next five years

Sam’s Club is expanding after seeing sharp gains in sales and membership during the Covid pandemic.

Read more at: https://www.cnbc.com/2023/01/26/walmart-owned-sams-club-plans-to-open-new-stores.html

American Airlines beats fourth-quarter profit expectations as higher fares buoy revenue

As it heads into its first quarter of 2023, the airline expects capacity to be 8% to 10% higher than the first quarter of 2022.

Read more at: https://www.cnbc.com/2023/01/26/american-airlines-aal-earnings-q4-2022.html

Toyota CEO and President Akio Toyoda to step down

Toyoda, 66, is the grandson of the carmaker’s founder and has served as chief executive since June 2009.

Read more at: https://www.cnbc.com/2023/01/26/toyota-ceo-and-president-akio-toyoda-to-step-down-.html

The Fair Tax Act explained: what to know about the Republican plan for a national sales tax, decentralized IRS

A group of House Republicans have revisited the Fair Tax Act, which would replace certain federal taxes with a national sales tax and decentralize the IRS.

Read more at: https://www.cnbc.com/2023/01/27/the-fair-tax-act-explained-what-to-know-about-the-republican-plan-.html

Why desalination won’t save states dependent on Colorado River water

Desalination plants can be costly and energy-intensive, and are difficult to manage in an environmentally friendly way, according to water policy experts.

Read more at: https://www.cnbc.com/2023/01/27/why-desalination-wont-save-states-dependent-on-colorado-river-water.html

Something’s Gotta Give…

Authored by Jesse Felder via TheFelderReport.com,

We’re at a fascinating juncture here in the markets.

Stocks have sold off hard for a little over a year now but have rallied once again in the short run. The result is that the S&P 500 Index has formed a fairly tight coil or pennant pattern over the past several months. And, as my friend Peter Atwater points out, this coil is merely a visual representation of a fierce battle going on in the markets.

Tight market coils always remind me of a tug-of-war.

Enormous energy is expended while the rope remains stationary until one side or the other exhausts. Then the rope moves violently to one side or the other.

— Peter Atwater (@Peter_Atwater)

Read more at: https://www.zerohedge.com/markets/somethings-gotta-give

Highly-Cited ‘Hamilton 68’ Russiagate Tracker Is Total Hoax: Taibbi

Out of the caterwaul of cries proclaiming that Russian collusion, and Russian influence operations, were the only reason Donald Trump won the 2016 US election (a hoax funded and promoted by his opponent, Hillary Clinton), a website that claimed to track said the Kremlin efforts sprung forth and was used to justify baseless allegations;

Hamilton 68: a widely-cited, (indirectly) state-sponsored propaganda tool.

The website claims to monitor a secret list of Twitter accounts that they accused of Kremlin control, however, it’s impossible to verify their claims as the group has never disclosed their methodology.

Read more at: https://www.zerohedge.com/political/highly-cited-hamilton-68-russiagate-tracker-total-hoax-taibbi

Netherlands, Japan, and US Reach Agreement To Throttle China’s Chip Ambitions As Tech War Heats Up

Netherlands, Japan, US Reach Agreement To Throttle China’s Chip Ambitions As Tech War Heats UpThe Biden administration could soon get the Netherlands and Japan to join the US in limiting China’s access to advanced semiconductor machinery, undermining Chinese leader Xi Jinping’s ambitions to become a dominant superpower.

According to Bloomberg, US, Dutch and Japanese officials wrapped up talks today on new guidelines for what type of chip-making equipment can be exported to China. Negotiations are closed doors, and there is no plan for a public announcement of restrictions.

The Netherlands will likely curb exports of ASML Holding NV’s ultraviolet lithography machines that produce advanced chips to China. Japan will likely embrace similar limits for Nikon Corp.

Sources told Reuters that a deal between Dutch and US officials could be reached …

Read more at: https://www.zerohedge.com/geopolitical/netherlands-japan-talks-us-throttle-chinas-chip-ambitions-tech-war-heats

Georgia Governor Declares State Of Emergency Over Atlanta Protests, Mobilizes 1,000 National Guard Troops

Authored by Katabella Roberts via The Epoch Times,

Georgia Gov. Brian Kemp declared a state of emergency on Jan. 26, allowing up to 1,000 Georgia National Guard troops to be bought in to help deal with violent protests that have broken out in recent weeks, with further demonstrations anticipated over the weekend.

The declaration is effective immediately and will expire on Feb. 9, unless extended by the governor.

Specifically, the state of emergency is being activated owing to “unlawful assemblage, violence, overt threats of vi …

Read more at: https://www.zerohedge.com/political/georgia-governor-declares-state-emergency-over-atlanta-protests-mobilizes-1000-national

Jeremy Hunt says significant tax cuts in Budget unlikely

The chancellor, who outlined a growth plan, says there will be little room for cuts in March.

Read more at: https://www.bbc.co.uk/news/business-64417101?at_medium=RSS&at_campaign=KARANGA

HS2 will run through to London Euston, Chancellor Jeremy Hunt says

This follows reports that rising costs could mean the rail link might stop in the suburbs of west London.

Read more at: https://www.bbc.co.uk/news/uk-64421566?at_medium=RSS&at_campaign=KARANGA

Adani Group: Fortune of Asia’s richest man hit by fraud claims

A report of fraud has sparked a mass sell-off in businesses led by Indian billionaire Gautam Adani.

Read more at: https://www.bbc.co.uk/news/business-64431235?at_medium=RSS&at_campaign=KARANGA

Bleeding red! 5 reasons why 9 out of 10 F&O traders lose money

Options trading started becoming popular in India during the Covid lockdown days when the salaried class took it as a side hustle while working from home. Many even kept two laptops – one for office work and the other for punching trades – in the comfort of their home and away from the prying eyes of their bosses.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/bleeding-red-5-reasons-why-9-out-of-10-fo-traders-lose-money/articleshow/97365049.cms

Indian markets achieve complete transition to T+1 settlement cycle

The stock exchanges, NSE and BSE, earlier in a joint statement, announced that they would implement the T+1 settlement cycle in a phased manner, starting February 25, 2022, with the bottom 100 stocks in terms of market value

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/indian-markets-achieve-complete-transition-to-t1-settlement-cycle/articleshow/97375009.cms

ACC, Ambuja Cements hit multi-month lows as Adani Group ditched on governance concerns

Shares of Adani Transmission, Adani Green Energy, and Adani Total Gas were locked in the 20% lower circuit. Adani Ports and Special Economic Zone hit a 2-year low, and Adani Enterprises a 5-month low. Describing Hindenburg’s 32,000-word report as maliciously mischievous and unresearched, Adani Group threatened to take punitive action against the firm in both US and Indian courts.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/acc-ambuja-cements-hit-multi-month-lows-as-adani-group-ditched-on-governance-concerns/articleshow/97373372.cms

Bond Report: Treasury yields climb Friday, 10-year posts biggest weekly yield jump in a month while inflation cools

U.S. government bond yields rise on Friday even though economic data showed further cooling in the Federal Reserve’s preferred measure of inflation.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7188-611BCED48EBB%7D&siteid=rss&rss=1

In One Chart: How to get a 6% return in bonds this year, according to Guggenheim

This straightforward strategy could get investors a return of nearly 6% in the bond market this year, according to Guggenheim Partners.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7189-236967555B66%7D&siteid=rss&rss=1

Market Snapshot: Tech-heavy Nasdaq climbs sharply, U.S. stocks rise as investors parse inflation data ahead of Fed meeting next week

U.S. stocks are rising Friday afternoon, with the technology-heavy Nasdaq Composite leading the way up, as investors assess fresh data on inflation.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7188-5B11967AE903%7D&siteid=rss&rss=1