South Korea Pledges $5 Billion In Support For Battery Makers In The U.S.

South Korea has announced a $5.32 billion financial support package aimed at helping the country’s battery makers invest in infrastructure in North America over the next five years.  The initiative is intended to help South Korean firms capitalize on the United States’ Inflation Reduction Act, which requires automakers to source 50% of critical EV battery resources from the U.S. or a U.S. free-trade partner to qualify for new federal incentives.  South Korea’s package will provide support through lowering lending rates, and…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/South-Korea-Pledges-5-Billion-In-Support-For-Battery-Makers-In-The-US.html

The Middle East Is Investing Billions Into Desalination Projects

The Middle East and North Africa account for some 48 percent of the world’s daily production of desalinated water, according to a report by BNC Intelligence. Desalination is the process of removing salt and contaminants from sea water to produce fresh water. The following chart, via Statista’s Anna Fleck, looks at some of the countries investing the most heavily in the industry, as water stress continues to rise. You will find more infographics at Statista The 4th MENA Desalination Projects 2023 Report details…

Read more at: https://oilprice.com/Energy/Energy-General/The-Middle-East-Is-Investing-Billions-Into-Desalination-Projects.html

Saudi And Omani Delegates Head To Yemen For Peace Talks With Houthi Officials

A Saudi-Omani delegation is set to travel next week to Yemen for peace talks with Houthi officials, two anonymous sources told Reuters on Friday.  The goal of the talks is to form a permanent ceasefire between Saudi Arabia and the Iran-backed Houthis in Yemen, with Oman mediating.  The talks come after Iran and Saudi Arabia—who have been on opposites sides for years in the Yemen conflict—recently agreed to renew their relationship with China facilitating the beginning of the restoration process.  Iran agreed last…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-And-Omani-Delegates-Head-To-Yemen-For-Peace-Talks-With-Houthi-Officials.html

Xi’s Geopolitical Playbook, Explained

After three years of “zero-COVID” isolation, China is stepping out onto the global stage to a far more unfriendly West and using its growing economic and military power to shape the world to better suit its interests. Finding Perspective: This more assertive footing was on display in March, with Beijing surprising much of the world by brokering a diplomatic deal between Iran and Saudi Arabia, one of the world’s most volatile rivalries. Xi has also continued to press ahead with China’s peacemaker status for the war in Ukraine after…

Read more at: https://oilprice.com/Geopolitics/Asia/Xis-Geopolitical-Playbook-Explained.html

Commercial Drones Poised To Disrupt Global Supply Chains

Emerging markets are capitalising on commercial drone technology to overcome logistics challenges and revolutionize supply chains for many goods and services, with expected benefits for last-mile delivery. While unmanned aerial vehicles (UAVs) are often associated with military usage, commercial UAV usage has grown substantially in recent years as e-commerce and logistics companies increasingly look to drones to enable more efficient delivery. Research firm GlobalData predicts that commercial drones will replace military drones as the largest revenue…

Read more at: https://oilprice.com/Energy/Energy-General/Commercial-Drones-Poised-To-Disrupt-Global-Supply-Chains.html

Saudi Arabia To Provide $240 Million Loan For Pakistan Hydropower Project

Saudi Arabia announced on Friday that it would be providing a $240 million loan to co-finance the construction of Mohmand Dam in Pakistan.  The hydropower complex, located in the northwest of the country, is seen as an essential project for Pakistan’s energy security as well as being critical for sustainable water supply for agriculture and human consumption, and flood resilience. The Mohmand Dam is a multi-purpose project that will provide 800 megawatts of renewable electricity capacity, and enable the irrigation…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-To-Provide-240-Million-Loan-For-Pakistan-Hydropower-Project.html

Is The UK Doing Enough To Achieve Its Ambitious Climate Pledges?

The U.K., like many of the world’s other major economies, has made ambitious climate pledges, aiming to roll out renewable energy projects and invest heavily in new technology. However, after experts decided that its previous strategy did not match up adequately to its climate goals, the government quickly got to work developing something new, only to fall short once again, according to recent criticism.  In 2021, the U.K. announced its Net Zero Strategy: Build Back Greener, aiming to decarbonize its economy by 2050, in line with Paris…

Read more at: https://oilprice.com/Energy/Energy-General/Is-The-UK-Doing-Enough-To-Achieve-Its-Ambitious-Climate-Pledges.html

U.S. Short-Term Steel Outlook Remains Bullish

Via AG Metal Miner The Raw Steels Monthly Metals Index (MMI) moved sideways from March to April, with a mere 0.65% increase. A sharp reversal to the downside for Midwest HRC future prices placed additional weight on the index. Meanwhile, HRC price action continued to the upside during the month, with the HRC rally yet to show a meaningful slowdown. Considering the strength in the current rally, steel prices may continue to the upside in the short term. This should continue until a bearish pattern or reversal is in place. U.S. Steel…

Read more at: https://oilprice.com/Metals/Commodities/US-Short-Term-Steel-Outlook-Remains-Bullish.html

Offshore Oil Workers To Stage Biggest Strike In A Generation

More than 1,300 offshore workers are to stage a 48-hour strike in a dispute over pay. Unite warned that dozens of oil and gas platforms will be brought to a “standstill” by the walkout from April 24. “There’s no question that contractors and operators can easily afford to give Unite members a decent pay rise. “The scale of corporate greed in the offshore sector has to be challenged. “1,350 offshore workers will now take part in an unprecedented tsunami of industrial action over 48 hours with…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Offshore-Oil-Workers-To-Stage-Biggest-Strike-In-A-Generation.html

Recession Fears Loom Over Oil Markets Once Again

Oil prices soared at the start of the week as OPEC+ shocked markets with a production cut announcement, but prices have since been capped by growing fears of demand destruction due to economic woes. Following the explosive rally in oil prices seen earlier this week, additional increases have been sluggish despite notable stock draws in both US crude and product inventories. With US demand coming back after a weak Q1 and OPEC+ getting really serious about curbing production, supply-side factors appear to indicate further…

Read more at: https://oilprice.com/Energy/Energy-General/Recession-Fears-Loom-Over-Oil-Markets-Once-Again.html

Texas Senate Votes To Add More Natural Gas Capacity To Fix Grid Issues

The Texas Senate voted this week to add more natural gas-fired capacity to the state grid to add more reliable power to the Electric Reliability Council of Texas (ERCOT) and make it ready to meet demand in any circumstances. Since Winter Storm Uri crippled the Texas grid in February 2021, leaving millions of Texans without power for days in freezing temperatures, the legislature in the Lone Star State has been working to ensure that such an event will not happen again. While the Texas power grid managed to avoid catastrophic failures during…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Texas-Senate-Votes-To-Add-More-Natural-Gas-Capacity-To-Fix-Grid-Issues.html

Tesla: A Sustainable Energy Economy Is Cheaper Than Sticking To Fossil Fuels

The massive rollout of clean energy solutions will need as much as $10 trillion of investments over the next 20 years, but continued use of fossil fuels will cost even higher, $14 trillion, Tesla said in a presentation on Thursday. In addition to initial capex, 5% per year maintenance capex with a 20-year horizon is included in the investment estimate to reach sustainable energy for the world, Elon Musk’s EV maker said in the Master Plan Sustainable Energy for All of Earth report. “Using these assumptions, building the manufacturing…

Read more at: https://oilprice.com/Energy/Energy-General/Tesla-A-Sustainable-Energy-Economy-Is-Cheaper-Than-Sticking-To-Fossil-Fuels.html

China Continues To Boost Gold Reserves

China, the world’s second-largest economy, increased its gold reserves in March for a fifth month in a row, as central banks globally continue to pile up reserves of gold in the face of high inflation and heightened geopolitical risks. The People’s Bank of China boosted its gold reserves by around 18 tons last month, per data from the central bank cited by Bloomberg. The officially reported Chinese reserves of gold now stand at 2,068 tons, having increased in each of the past five months.   That’s the longest period in which…

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What China’s Growing Geopolitical Power Means For Energy Traders

Trading is always short-term in nature. Even if you are swing trading, positions are rarely carried for more than a few weeks, maybe a month or two, which may seem like a very long time when you are watching and waiting for a move but is, in the grand scheme of things, merely a blink of an eye. That doesn’t mean, though, that long-term factors aren’t important. In fact, whether consciously or not, every decision a trader makes is based to some extent on a long-term view that inevitably comes from following news and data relevant to…

Read more at: https://oilprice.com/Energy/Energy-General/What-Chinas-Growing-Geopolitical-Power-Means-For-Energy-Traders.html

Kurdistan’s Oil Export Saga Continues

The Iraqi federal government and the Kurdistan Regional Government (KRG) cut a deal earlier this week to resume the export via pipeline of some 450,000 bpd of Kurdish oil to Turkey. Flows have not resumed as of the time of writing, but the atmosphere was one of optimism.  The deal essentially means the Iraqi Kurds will be giving up some of their autonomy. In this case, it is the autonomy that Baghdad claims was unconstitutional, to begin with: The right to directly sell oil to the market, bypassing the Iraqi federal oil marketer, SOMO. The international…

Read more at: https://oilprice.com/Energy/Energy-General/Kurdistans-Oil-Export-Saga-Continues.html

Job growth totals 236,000 in March, near expectations as hiring pace slows

The Labor Department reported Friday that payrolls grew by 236,000 for the month, compared to the Dow Jones estimate for 238,000.

Read more at: https://www.cnbc.com/2023/04/07/jobs-report-march-2023.html

The IRS released its $80 billion funding plan. Here’s what it means for taxpayers

The IRS on Thursday released a plan for the nearly $80 billion in agency funding enacted in August. Here’s what it means for taxpayers.

Read more at: https://www.cnbc.com/2023/04/07/what-the-irs-80-billion-funding-plan-means-for-taxpayers.html

Why it’s possible to have too much employment in the U.S.

Since 1977, the Federal Reserve has focused on creating maximum employment and stable prices, commonly known as the dual mandate.

Read more at: https://www.cnbc.com/2023/04/07/federal-reserve-fed-inflation-jobs-report-unemployment.html

Blocked emergency exits and ‘dangerous’ fire hazards: Dollar General again found in violation of federal workplace safety standards

Discount retailer Dollar General, which has been fined $15 million for safety violations since 2017, was penalized for fire hazards at a Pennsylvania store.

Read more at: https://www.cnbc.com/2023/04/07/dollar-general-violates-workplace-safety-standards-again.html

Gold and mining ETFs are surging as the precious metal flirts with a record high

Gold is on a six-week winning streak, boosting returns for investors in ETFs tied to the yellow metal.

Read more at: https://www.cnbc.com/2023/04/07/gold-and-mining-etfs-are-surging-as-bullion-flirts-with-a-record-high.html

Ukraine war live updates: Secret Pentagon and NATO files leaked; Russia formally charges American reporter with espionage

While it is not yet clear how the documents were leaked, they have been circulating on pro-Russian government channels, analysts say.

Read more at: https://www.cnbc.com/2023/04/07/russia-ukraine-live-updates.html

Tesla cuts U.S. prices for fifth time since January

Tesla cut U.S. prices between 2% and nearly 6%, its website showed Thursday, as it extends a discount drive that analysts caution could hurt profitability.

Read more at: https://www.cnbc.com/2023/04/07/tesla-cuts-us-prices-for-fifth-time-since-january.html

Here’s a decade-by-decade guide to building wealth

Don’t let market volatility and recession fears stop you from taking steps to build your wealth. Here’s what you should be doing in your 20s, 30s and beyond.

Read more at: https://www.cnbc.com/2023/04/07/heres-a-decade-by-decade-guide-to-building-wealth.html

Justice Clarence Thomas explains failure to report trips paid for by conservative billionaire

Thomas issued statement in response to ProPublica report about trips he took that were paid for by billionaire Harlan Crow.

Read more at: https://www.cnbc.com/2023/04/07/justice-clarence-thomas-explains-failure-to-report-trips-paid-for-by-conservative-billionaire.html

Uranium is having a ‘renaissance.’ What to know about it, and how to play it

CNBC Pro breaks down the tailwinds and the ways to play the trend.

Read more at: https://www.cnbc.com/2023/04/07/uranium-is-having-a-renaissance-what-to-know-about-it-and-how-to-play-it.html

The 15 worst places to buy a home if you want it to grow in value

Montgomery, Alabama, ranks as the worst city for growth in home value since 1998.

Read more at: https://www.cnbc.com/2023/04/07/worst-places-to-buy-a-home-if-you-want-it-to-grow-in-value.html

London’s priciest townhouse just listed for $74 million. Here’s what’s hidden beneath it

The home is located in the Chelsea Barracks development, a 13-acre parcel of land that sold for more than $1 billion in 2008.

Read more at: https://www.cnbc.com/2023/04/03/londons-priciest-townhouse-goes-on-sale.html

Commerce officials heading to China to lay the groundwork for possible Raimondo trip later this year, sources say

Officials from the Department of Commerce will travel to Beijing and Shanghai to lay the groundwork for a potential trip by Secretary Gina Raimondo, sources say.

Read more at: https://www.cnbc.com/2023/04/07/commerce-officials-heading-to-china-to-lay-groundwork-for-possible-raimondo-trip-later-this-year-sources-say.html

Shareholders Say JPMorgan Chase Has ‘Disturbing Trend’ Of Political Bias

Authored by Kevin Stocklin via The Epoch Times (emphasis ours),

Investors who are fighting the politicization of America’s banks scored a rare win last week with a Securities and Exchange Commission (SEC) ruling that allowed a shareholder proposal in favor of political and religious diversity at JPMorgan Chase to go forward, despite the bank’s objections.

On March 29, the SEC green-lighted a shareholder proposal that would direct the bank’s board to investigate what some say is a “disturbing trend of politicized deba …

Read more at: https://www.zerohedge.com/political/shareholders-say-jpmorgan-chase-has-disturbing-trend-political-bias

“Try To Cancel Me”: NBC Sports Broadcasting Legend Quits Job To Speak Truth To Power On Podcast

Authored by Michael Wing via The Epoch Times,

She was the crown jewel of NBC Sports television. A winner of Emmys and trailblazer for women in broadcasting, Michele Tafoya reached millions of viewers in living rooms across America—all from the sidelines on “Monday Night Football.”

After nearly 30 years on the air, Tafoya left it all to start podcasting on Salem and speaking her mind. She saw her country being torn apart from within and felt compelled to save it.

One year into her social media foray, Tafoya has exactly zero regrets.

“I wanted to respond to some people who were saying things that I thought were divisive,” Tafoya told The Epoch Times.

“I wanted to say, ‘Wait a minute now, you’re saying the American dream is …

Read more at: https://www.zerohedge.com/political/try-cancel-me-nbc-sports-broadcasting-legend-quits-job-speak-truth-power-podcast

Obama Center ‘Displacing Thousands Of Black Families’ In Chicago, Neighbors Say

As the Obama Foundation’s $500 million presidential center approaches its 2025 grand opening, some of Chicago’s poorest residents, many of whom are black, have sounded the alarm over skyrocketing rents in the surrounding South Shore and Woodlawn neighborhoods, which have priced out many longtime residents.

In February, almost 90% of voters on the South Side voted for a referendum to create more affordable housing and provide aid to renters and homeowners who live near the Obama Center, the Washington Post reports.

“Some of us have lived here for more than 40 years,” said one woman during a March community meeting to discuss the issue.

“What happens in communities where there is economic development is families get pushed out because of property value raises,” said Democrat Brandon Jo …

Read more at: https://www.zerohedge.com/political/obama-center-displacing-thousands-black-families-chicago-neighbors-say

Are Food Costs Affecting Easter Plans?

Authored by Kate Daugherty via FinanceBuzz.com,

Easter is traditionally a time of regrowth and renewal. These statistics offer insight into how consumers shop for the holiday and their favorite Easter treats.

We may receive compensation from the products and services mentioned in this story, but the opinions are the author’s own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

In 2023, Easter is on Sunday, April 9, so there is still time to dye eggs and help the Easter Bunny fill those baskets with delicious treats.

Many families in the U.S. will likely hunt for Easter eggs and sit down to a meal with family and friends. With rising prices and shortages of everything from meat to eggs, this year’s celebration might be a little more …

Read more at: https://www.zerohedge.com/personal-finance/are-food-costs-affecting-easter-plans

US job creation slows but unemployment stays low

The world’s biggest economy added 236,000 roles in March, led by bars and restaurants.

Read more at: https://www.bbc.co.uk/news/business-65212377?at_medium=RSS&at_campaign=KARANGA

High Streets see revival of weekend shopping

With more workers back in offices many people are returning to pre-pandemic habits, a retail group says.

Read more at: https://www.bbc.co.uk/news/business-65203975?at_medium=RSS&at_campaign=KARANGA

French police blame Dover port for border delays

French border police say the Port of Dover did not prepare properly for last weekend’s holiday rush.

Read more at: https://www.bbc.co.uk/news/business-65214484?at_medium=RSS&at_campaign=KARANGA

Once US goes into recession, EMs will do well: Andrew Holland

Andrew Holland, CEO of Avendus Capital Public Markets Alternate Strategies, sees emerging markets as a key growth area, particularly for investment following a downturn in global markets; Since I can remember, once the US goes into recession and interest rates start to fall, emerging markets do well”. India may initially experience weaker flows than areas such as China, Taiwan and Korea, but Holland expects earnings acceleration will attract increased investment during H2 of 2019.

Read more at: https://economictimes.indiatimes.com/markets/expert-view/once-us-goes-into-recession-ems-will-do-well-andrew-holland/articleshow/99292985.cms

Smart Talk: FY24 a good opportunity to invest and accumulate businesses that pass the Darwin test, says Jayesh Faria

The headline indices have experienced a not-so-tepid correction in valuations, with the small and midcap indices valuations suffering the most.The correction in valuations presents a good opportunity to invest and accumulate businesses that pass the Darwin test – survived and thrived over time and have significant MOATs

Read more at: https://economictimes.indiatimes.com/markets/expert-view/etmarkets-smart-talk-fy24-a-good-opportunity-to-invest-and-accumulate-businesses-that-pass-the-darwin-test-says-jayesh-faria/articleshow/99312649.cms

Chart Check: Channel breakout could take this infra stock to fresh record highs

Experts suggest that Larsen & Toubro (L&T) stock is on track to reach a fresh record high in the next 2-3 months, as it has managed to rebound from its 50-daily moving average on the charts. The stock showed positive momentum in the last month and broke out from a falling channel pattern on the charts, allowing it to inch towards the Rs 2400 levels. The stock is now trading above most short and long-term moving averages and has also received bullish indicators from the Relative Strength Index and MACD.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/chart-check-channel-breakout-could-take-this-infra-stock-to-fresh-record-highs/articleshow/99311997.cms

What will happen to your pets after you die? Make a plan for your furry friends.

Every year, about 500,000 pets are surrendered to shelters because their owner dies or becomes disabled without a long-term care plan for their animal.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71CF-5B47FD350130%7D&siteid=rss&rss=1

Mutual Funds Weekly: These money and investing tips give you the inside scoop on the market’s favorite flavor

Money and investing stories popular with MarketWatch readers over the past week.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71CE-791C72BC81BD%7D&siteid=rss&rss=1

Retirement Weekly: Social Security deficits are not the biggest worries retirees face

Putting the Social Security actuarial deficit in context

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71CD-F52D3722D254%7D&siteid=rss&rss=1