27Apr2022 Market Close & Major Financial Headlines: Markets Eke Out Tiny Gains

Carbon Capture Capacity Is Soaring But We Still Need More

As the energy transition quickens, global carbon capture, utilization, and storage (CCUS) projects are on track to pull more than 550 million tonnes of CO2 out of the atmosphere every year by 2030, Rystad Energy research shows. This capacity growth represents a more than tenfold increase over todays 45 million tonnes per annum (tpa) of CO2 captured, as the drive to decarbonize gathers pace. Project announcements surged in 2021, with the current pipeline containing more than 200 developments, three times more than are currently in operation

Read more at: https://oilprice.com/Energy/Energy-General/Carbon-Capture-Capacity-Is-Soaring-But-We-Still-Need-More.html

Italy May Consider Nationalizing Giant Lukoil Refinery

Government sources have told Reuters that Italy may temporarily nationalize the ISAB refinery owned by Lukoil, Russia’s second-largest oil producer whose CEO resigned after being sanctioned by the UK and the European Union. Reuters cited unnamed sources as stating that Italy’s Industry Minister plans to raise the issue at a Thursday cabinet meeting, though it is not currently on the agenda. ISAB is owned by Litasco, a Swiss-based trading company, which is in turn controlled by Lukoil.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Italy-May-Consider-Nationalizing-Giant-Lukoil-Refinery.html

Russian Hackers Are Targeting Europe’s Renewable Energy Infrastructure

Cyberattacks have hit at least three wind power firms in Germany in the two months since Russia invaded Ukraine. A European wind power industry association says the timing of the hacks suggests possible links to hackers sympathetic with Russia aiming to wreak havoc on European renewable energy systems as Europe looks to cut its reliance on Russian fossil fuels. German firms Enercon, Nordex Group, and Deutsche Windtechnik have all reported cyber incidents in recent weeks. Earlier this month, Conti, a group that declared support

Read more at: https://oilprice.com/Energy/Energy-General/Russian-Hackers-Are-Targeting-Europes-Renewable-Energy-Infrastructure.html

Can We Use Less Energy And Still Be Happy?

Much ink has been spilled over how much energy consumption is going to grow in coming years as the global population expands, more people in rural areas and developing countries gain increasing access to the energy grid, and expanding middle classes in places like China and India begin to demand more energy. The question is how to balance this expanding energy demand and consumption with the imperative to decarbonize the global economy rapidly enough to avoid the worst effects of climate change. Its a complex question, and one that

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/Can-We-Use-Less-Energy-And-Still-Be-Happy.html

High Oil And Gas Prices Provide Trillions Of Dollars In Tax

Sustained high commodity prices and increasing oil and gas supply are set to push upstream sector payments to governments to an all-time high of $2.5 trillion this year, smashing the previous record of $2.1 trillion set in 2011, Rystad Energy research shows. Saudi Arabia is, unsurprisingly, set to top the table in terms of total cash flow to government from the sector this year, followed by the US and Iraq, with the top 10 list dominated by Middle Eastern producers. Government take varies considerably between nations, however, with Norway and Iraq

Read more at: https://oilprice.com/Energy/Crude-Oil/High-Oil-And-Gas-Prices-Provide-Trillions-Of-Dollars-In-Tax.html

EU Pledges Coordinated Response To Russian Gas Blackmail

The European Union is working to ensure alternative gas supply and pledges a coordinated response to Gazprom’s announcement it had stopped gas flows to Poland and Bulgaria, European Commission President Ursula von der Leyen said on Wednesday. Late on Tuesday, Poland and Bulgaria said they had been notified by Gazprom that Russian gas supply to the two countries would be cut off as of Wednesday. Gazprom says supply was stopped due to absence of payments in rubles. Commenting on the halt of Russian gas deliveries to certain EU

Read more at: https://oilprice.com/Energy/Energy-General/EU-Pledges-Coordinated-Response-To-Russian-Gas-Blackmail.html

Ford sees first-quarter profit dragged lower by Rivian stake, but maintains 2022 earnings guidance

Ford reported earnings after the bell. Here are the results.

Read more at: https://www.cnbc.com/2022/04/27/ford-f-earnings-q1-2022.html

Boeing lost $1.1 billion on Trump Air Force One contract; CEO regrets deal

Donald Trump had bragged his deal with Boeing for the Air Force One program would save taxpayers more than a billion dollars. It’s cost Boeing more than that.

Read more at: https://www.cnbc.com/2022/04/27/boeing-lost-billion-dollars-on-trump-air-force-one-plane-deal.html

Stocks making the biggest moves midday: Microsoft, Visa, Enphase Energy, Boeing and more

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

Read more at: https://www.cnbc.com/2022/04/27/stocks-making-the-biggest-moves-midday-microsoft-visa-enphase-energy-boeing-and-more.html

Real estate inventory plummets in South Florida, but the luxury markets are hotter than ever

South Florida’s real estate inventory has declined rapidly over the past five years, but luxury homes are selling for bigger sums than ever before.

Read more at: https://www.cnbc.com/2022/04/27/here-are-the-5-hottest-luxury-real-estate-markets-in-south-florida.html

Here’s what to do first if you win Powerball’s $454 million jackpot

In between daydreaming about winning such a huge amount, it’s worth giving thought to the steps you should take right away if you do manage to hit the jackpot.

Read more at: https://www.cnbc.com/2022/04/27/powerballs-jackpot-is-454-million-what-to-do-first-if-you-win.html

Wealthy investors, building cash, shunning tech, aren’t ready to bet big again on bull market’s former leaders

Big losses for the S&P 500 haven’t convinced millionaire investors the worst is over for this market.

Read more at: https://www.cnbc.com/2022/04/27/millionaires-dont-see-big-stock-losses-as-a-buy-the-dip-moment.html

5 things to know before the stock market opens Wednesday

U.S. stock futures bounced Wednesday after the Nasdaq’s biggest single-session loss since September 2020.

Read more at: https://www.cnbc.com/2022/04/27/5-things-to-know-before-the-stock-market-opens-wednesday-april-27.html

Credit Suisse says U.S. authorities will ‘absolutely not’ find any wrongdoing amid probe into Russian oligarch record shredding

CEO Thomas Gottstein told CNBC that letters received by investors had “nothing to do” with sanctions, or loans belonging to members of Putin’s inner circle.

Read more at: https://www.cnbc.com/2022/04/27/credit-suisse-document-shredding-not-related-to-russia-oligarch-sanctions.html

Boeing posts loss as it grapples with delays on commercial and defense programs

The manufacturer says it is pausing 777X production and that it doesn’t expect deliveries to start until 2025.

Read more at: https://www.cnbc.com/2022/04/27/boeing-ba-1q2022-earnings.html

Want a 720 credit score? Here are four ways to improve yours

Your credit score is a metric that financial institutions and other lenders use to evaluate how responsible you have been at borrowing money.

Read more at: https://www.cnbc.com/2022/04/27/why-a-good-credit-score-matters-and-how-to-improve-your-number.html

SpaceX launches Crew-4 mission for NASA, has now sent 26 astronauts to space in under two years

SpaceX launched a group of astronauts for NASA early Wednesday morning, with Elon Musk’s company now having sent 26 people to orbit in less than two years.

Read more at: https://www.cnbc.com/2022/04/27/elon-musks-spacex-launches-nasa-crew-4-astronaut-mission.html

It’s ‘ridiculous and naive’ to think we can stop fossil fuel production immediately, says Standard Chartered CEO Bill Winters

Achieving any sort of meaningful change in the planet’s energy mix represents a huge task.

Read more at: https://www.cnbc.com/2022/04/27/ridiculous-to-think-we-can-stop-fossil-fuel-production-immediately-ceo.html

Walmart dangles deeper gas discounts to attract and retain members of subscription service

The big-box retailer is flexing its low prices as a competitive advantage with inflation driving the price of food and fuel higher.

Read more at: https://www.cnbc.com/2022/04/27/walmart-dangles-deeper-gas-discounts-to-attract-retain-subscribers.html

FANG FUBAR, Bonds & Boeing Battered As Dollar Index Nears 20-Year-High

FANG FUBAR, Bonds & Boeing Battered As Dollar Index Nears 20-Year-HighFANG stocks puked again…

…led by weakness in GOOGL and FB – now back at a crucial support level, from right before the COVID crash…

Source: Bloomberg

And as Goldman’s Prime Desk notes, the cumulative net selling across the FAAMG complex over the past week was the largest over any 5-day period YTD.

Netflix is the biggest loser of the bunch but they are all ugly AF…

Read more at: https://www.zerohedge.com/markets/fang-fubar-dollar-index-nears-20-year-highs

Bill Hwang Released After Posting $100 Million Bail, Says He “Lost His Passport”

Bill Hwang Released After Posting $100 Million Bail, Says He “Lost His Passport”Update (3:30pm ET): Bill Hwang may have blown through tens of billions of personal money, but he still had at least $100 million left, because that’s how much he just paid to post bail and be freed after pleading not guilty. This means only one thing: Hwang is about to get on a private jet (conveniently, he lives just 10 minutes away from Teterboro where he can find a plethora of one way tickets to purchase) and next week’s megaparty featuring Hwang and Jho Low will be superlit.

In his first appearance since being arrested at 6 a.m. Wednesday, Hwang agreed to fork over $5 million in cash and pledged two properties including his personal home to secure his bond, Bloomberg reported. Wearing a face mask, green shirt and tan pants, Hwang agreed not to travel outside of the New York-New Jersey-Connecticut area. Hwang told prosecutors that he lost his passport, so his wife will surrender her passport instead, Bloomberg reports.

His co-defendant, Chief Financial Officer Patrick Halligan, also pleaded not guilty and will be freed on $1 million bail and have limited travel. Both men will be released Wednesday. They are due back in court in lower Manhattan on May 19.

The size of Hwang’s bail matches some of the more high-profile white-collar cases of the past year. Trump ally Tom Barrack was freed from jail for $250 million and Nikola Corp. founder Trevor Milton was released for $100 million. While those levels are high, the highest U.S. bail is believed to be $3 billion, set …

Read more at: https://www.zerohedge.com/political/bill-hwang-arrested-archegos-owner-charged-racketeering-securities-and-fraud

Popular South Korean DJ Forced To Remove “Offensive” Pants To Board American Airlines Flight

Popular South Korean DJ Forced To Remove “Offensive” Pants To Board American Airlines FlightAmerican Airlines reportedly kicked a popular South Korean DJ off a U.S. flight for wearing a pair of sweatpants that were deemed to be “inappropriate” and “offensive”.

The DJ, named DJ Soda, was told she would have to remove her pants, according to SCMP.

The 36 year old DJ’s real name is Hwang So-hee. She wrote on Instagram that she was “harassed and humiliated” as a result of the incident.

“I was forced out of the plane and was harassed to take off my pants in front of the flight crews at the gate,” she wrote on Instagram.

Read more at: https://www.zerohedge.com/markets/popular-south-korean-dj-forced-remove-offensive-pants-board-american-airlines-flight

Peter Schiff: The Fed’s Ego Is The Only Thing Bigger Than This Bubble

Peter Schiff: The Fed’s Ego Is The Only Thing Bigger Than This BubbleVia SchiffGold.com,

The Fed insists it can tighten monetary policy and tackle inflation without hurting the economy. Federal Reserve Chairman Jerome Powell and other central bankers claim the economy is strong enough to handle higher interest rates. Peter Schiff said this is just another in a long line of arrogant miscalculations by the Fed.

As the central bank begins to raise rates and gets set to shrink its balance sheet, some analysts worry that the Fed will make a mistake and tighten too much. But Peter said the Fed already made the mistake.

It’s not about the Fed might make a mistake. They’ve already made nothing but mistakes. The Fed has never done anything right. And because the …

Read more at: https://www.zerohedge.com/markets/peter-schiff-feds-ego-only-thing-bigger-bubble

Sanjeev Gupta’s Liberty Steel offices targeted in fraud investigation

The Serious Fraud Office has visited addresses across Britain during the ongoing investigation.

Read more at: https://www.bbc.co.uk/news/business-61243841?at_medium=RSS&at_campaign=KARANGA

Ukraine War: Russia trying to divide allies using gas – Poland

Russian energy giant Gazprom cuts supply to Poland and Bulgaria for refusal to pay in roubles.

Read more at: https://www.bbc.co.uk/news/world-europe-61240499?at_medium=RSS&at_campaign=KARANGA

Silly to boost support on energy bill now, says chancellor

Asked by Mumsnet if he would provide more help with energy costs, the chancellor said he wanted to wait.

Read more at: https://www.bbc.co.uk/news/uk-politics-61244541?at_medium=RSS&at_campaign=KARANGA

LIC IPO right sized, it will not crowd out monetary supply: Govt

“LIC IPO is right sized, given the constraints in the market. LIC IPO will not crowd out capital and monetary supply in the market,” said Tuhin Kanta Pandey, Secretary, DIPAM, which is the government agency that looks after investments and divestments.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/lic-ipo-right-sized-it-will-not-crowd-out-monetary-supply-govt/articleshow/91121358.cms

SBI Life Insurance Q4 Preview: Profit likely to drop 33%; VNB margin to be flat QoQ

Axis Securities, in a note, said it expects the company to report a nearly 33 per cent fall in net profits for the March quarter. This is despite the net premium earned for the quarter will likely rise about 9 per cent.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/sbi-life-insurance-q4-preview-profit-likely-to-drop-33-vnb-margin-to-be-flat-qoq/articleshow/91132449.cms

Tech View: Nifty50 slips below 50-day SMA; hurdle seen at 17,150

Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan, said the index had reached near a falling trendline on the hourly chart, which was around 17,200, but it tanked on Wednesday.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-slips-below-50-day-sma-hurdle-seen-at-17150/articleshow/91126295.cms

Bond Report: Treasury yields post their biggest rises in almost a week as investors reassess economic growth prospects

Treasury yields are broadly higher on Wednesday as investors weigh the outlook for global economic growth and U.S. stocks try to cling to modest gains.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C70-87B875F7FFE7%7D&siteid=rss&rss=1

Sen. Thom Tillis calls for insider-trading probe of fellow N.C. Republican lawmaker Madison Cawthorn

Republican Sen. Thom Tillis of North Carolina says a fellow GOP lawmaker from his state — Rep. Madison Cawthorn — should face an insider-trading investigation, after a report raises questions about Cawthorn’s moves with the “Let’s Go Brandon” cryptocurrency.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C79-3468E084631D%7D&siteid=rss&rss=1

The Margin: Harvard’s ties to slavery led it to create a $100 million fund — here are other schools that have revealed similar connections

Harvard University recently admitted to having ‘historic ties to slavery.’

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C73-2C46A7CF007F%7D&siteid=rss&rss=1