How Long Can Russia Afford To Continue Its War In Ukraine?

The final deficit of the Russian federal budget for 2022 appeared to be 3.35 trillion rubles, almost $48.8 billion according to the average exchange rate during the year. Although, the ruble became a partially convertible currency after the beginning of Moscow’s aggression against Ukraine, and therefore, the exchange rates must be treated carefully. The Russian government’s total revenue for 2022 was 27.77 trillion rubles (about $409.68 billion) and total spending was 31.11 trillion rubles (just under $459 billion) (RBC, January 10,

Read more at: https://oilprice.com/Energy/Energy-General/How-Long-Can-Russia-Afford-To-Continue-Its-War-In-Ukraine.html

Central Asia Glaciers Are Melting At Astonishing Rates

After Central Asians were walloped by winter last week, many may find it hard to worry about too little snow. But that is a problem facing the region’s farmers and dam builders of the near future. Snow is an essential ingredient in the delicate annual cycle shaping seasonal river flows and thus food and electricity production. While warming winters and shrinking glaciers have been obvious, and easy to measure, in Central Asia for decades, new data paint a fuller picture of what the future holds for these frozen reservoirs in the mountains.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Central-Asias-Glaciers-Are-Melting-At-Astonishing-Rates.html

Emerging Markets Look To Capitalize On Shifting Supply Chains

Macroeconomic forces such as inflation, geopolitical tension punctuated by Russia’s invasion of Ukraine, and spikes in commodity prices heightened supply chain disruptions in 2022, which included capacity constraints, higher freight costs, labor shortages, and port slowdowns. According to a survey of logistics and supply chain professionals conducted in December 2022, some 71.8% of companies were dealing with supply chain disruptions, while 57.7% were trying to navigate transport capacity shortages. Of these respondents, 93% expected these

Read more at: https://oilprice.com/Finance/the-Economy/Emerging-Markets-Look-To-Capitalize-On-Shifting-Supply-Chains.html

Gas Flowing To Freeport LNG, Restart Timeframe Unchanged

Refinitiv data showed gas flowing to the Freeport LNG plant that’s been shuttered since going offline in June after suffering damage from an explosion. The gas flows, according to an anonymous Reuters source, were within the plant’s pre-treatment facility and were maintaining the flare system. Last week, Freeport LNG denied the Reuters rumors that Freeport LNG would delay its planned startup from the second half of January until February, telling Oilprice.com that Freeport LNG had no change to our restart timeline. We

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Gas-Flowing-To-Freeport-LNG-Restart-Timeframe-Unchanged.html

U.S. Gasoline Prices Continue To Rise Even As Demand Slumps

Gasoline demand is going through a seasonal slack-off, AAA data said in a note on Tuesday, with short days and icky weather keeping drivers at home. U.S. retail gasoline prices are on the rise despite the demand slump, with the national average rising 5.7 cents since last week to $3.327 per gallon. Gasoline demand normally slacks off this time of year, and according to AAA, gasoline demand is unlikely to pick up until we get closer to Spring Break. Gasoline prices are rising, nevertheless, with the biggest increases seen in Colorado, Georgia, Indiana,

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Gasoline-Prices-Continue-To-Rise-Even-As-Demand-Slumps.html

U.S. Lithium Production Is Set To Explode

For years, the United States has been falling behind in the clean energy race. While other energy producers around the world have been investing heavily into transitioning away from fossil fuels, a flood of cheap oil and gas from the West Texas Permian Basin over the last decades on top of enormous inertia and petro-protectionism built into the nation’s economy and culture has left the U.S. renewable energy sector in a state of arrested development. Now, the Biden administration is making a bid to bring the country up

Read more at: https://oilprice.com/Metals/Commodities/US-Lithium-Production-Is-Set-To-Explode.html

Disney rips Peltz over board fight, defends Iger’s acquisitions

Disney is pushing back on activist investor Nelson Peltz’s bid for a seat on its board.

Read more at: https://www.cnbc.com/2023/01/17/disney-defends-iger-says-activist-peltz-has-no-track-record-in-big-media-.html

GM reveals new Chevy Corvette E-Ray hybrid sports car, starting at over $104,000

The 2024 Chevrolet Corvette E-Ray hybrid will be the quickest production version ever of the American sports car.

Read more at: https://www.cnbc.com/2023/01/17/chevy-corvette-e-ray-hybrid-sports-car-unveiled.html

Gen Z is driving luxury sales as wealthy shoppers get younger

Analysts and luxury executives say the appeal of luxury brands to ever-younger consumers is tied to a surge in wealth creation over the past few years, along with social media.

Read more at: https://www.cnbc.com/2023/01/17/gen-z-is-driving-luxury-sales-as-wealthy-shoppers-get-younger.html

Peloton hires former Twitter executive as new head of marketing

Peloton has hired former Twitter CMO Leslie Berland to serve as its new chief of marketing.

Read more at: https://www.cnbc.com/2023/01/17/peloton-hires-former-twitter-executive-as-new-head-of-marketing.html

Adidas says Berlin Fashion Week launch and co-CEO announcements are fake

The Yes Men, an activist group that has a history of creating spoofs to draw attention to corporations, said it was behind the releases.

Read more at: https://www.cnbc.com/2023/01/16/adidas-says-berlin-fashion-week-launch-and-co-ceo-announcements-are-fake.html

Fake billionaire Justin Costello could plead guilty in $35 million fraud case, court filing indicates

Prosecutors say Justin Costello falsely claimed to be a billionaire, a twice-wounded special forces vet, and a Harvard MBA to dupe alleged victims in frauds.

Read more at: https://www.cnbc.com/2023/01/17/fake-billionaire-justin-costello-could-plead-guilty-in-fraud-case-in-35-million-fraud.html

Arizona suburb sues the city of Scottsdale for cutting off its water supply

Scottsdale said it must focus on water conservation for its own residents and would not continue to sell water to the roughly 500 homes in Rio Verde Foothills.

Read more at: https://www.cnbc.com/2023/01/17/arizona-suburb-sues-scottsdale-for-cutting-off-its-water-supply-.html

The zero-fare public transit movement is picking up momentum

Washington, D.C., is poised to be the next major city to eliminate bus fares as the zero-fare transit movement picks up speed in the U.S.

Read more at: https://www.cnbc.com/2023/01/14/zero-fare-public-transit-movement-gains-momentum.html

10 auto industry predictions investors should keep an eye on this year

Cox Automotive’s predictions for the U.S. auto industry point to a challenging year ahead.

Read more at: https://www.cnbc.com/2023/01/15/ten-auto-industry-predictions-2023.html

Dungeons & Dragons open game license update delayed following fan backlash

The attempt to create a new D&D OGL comes as Hasbro’s Wizards of the Coast unit looks to capitalize on a surge in Dungeons & Dragons’ popularity.

Read more at: https://www.cnbc.com/2023/01/13/hasbro-delays-new-dungeons-dragons-licensing-rules.html

Arizona says developers don’t have enough groundwater to build in desert west of Phoenix

Developers are flooding Arizona with plans to build homes even as water supplies dwindle.

Read more at: https://www.cnbc.com/2023/01/17/arizona-developers-dont-have-enough-groundwater-to-build-in-desert.html

Stocks making the biggest moves midday: Goldman Sachs, Morgan Stanley, Roblox, Alibaba and more

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

Read more at: https://www.cnbc.com/2023/01/17/stocks-making-the-biggest-moves-midday-goldman-sachs-morgan-stanley-roblox-alibaba-and-more.html

There’s still time to avoid a penalty for fourth-quarter estimated taxes — but the clock is ticking

There’s still time to avoid a penalty if you didn’t pay enough taxes in 2022. The deadline for fourth-quarter estimated tax payments is Jan. 17.

Read more at: https://www.cnbc.com/2023/01/17/jan-17-is-the-deadline-for-2022-fourth-quarter-estimated-tax-payments.html

NY Supreme Court Strikes Down COVID Vaccine Mandate For Health Care Workers

NY Supreme Court Strikes Down COVID Vaccine Mandate For Health Care WorkersAuthored by Tom Ozimek via The Epoch Times,

A state Supreme Court judge in Syracuse, New York, struck down a statewide mandate for medical staff to be vaccinated against COVID-19, ruling that Gov. Kathy Hochul and the state’s health department overstepped their authority.

In a landmark ruling issued on Jan. 13, state Supreme Court Judge Gerard Neri declared the statewide COVID-19 vaccine mandate for medical staff “null, void, and of no effect.”

Hochul and the state Department of Health exceeded their authority by sidestepping the state legislature in imposing a permanent COVID-19 vaccine mandate for medical professionals, the judge wrote in the order (

Read more at: https://www.zerohedge.com/political/ny-supreme-court-strikes-down-covid-vaccine-mandate-health-care-workers

Stocks Tank After US Regulator Threatens To Break Up ‘Too Big To Manage’ Banks

Acting Comptroller of the Currency Michael Hsu appeared to want to make an early name for himself this afternoon as The Wall Street Journal reports the top federal banking regulator warned that big banks may need to be broken into smaller pieces if they become too big to manage and are unable to fix significant regulatory lapses.

Banks can become so big and complex “that control failures, risk management breakdowns, and negative surprises occur too frequently,” Mr. Hsu said, speaking at the Brookings Institution, a Washington think tank.

“Not because of weak management, but because of the sheer size and complexity of the organization.”

“In short, effective management is not infinitely scalable,” he said.

Tuesday’s remarks are consistent with those from others made by the Biden administration and its top regulators, who are seeking to address concerns that the steady growth of the nation’s largest banks has introduced new risks to the financial system.

Read more at: https://www.zerohedge.com/markets/stocks-tank-after-us-regulator-threatens-break-too-big-manage-banks

ZH Geopolitical Week Ahead: Fears At Davos Of Globalization ‘Under Siege’ While Kiev, Moscow Agree ‘Russia Is Fighting NATO’

A weekly round-up of geopolitical flashpoint and energy news we’re keeping our eyes on, and trends impacting global markets, which will later be accessible for Premium members and above…

Finally the Ukrainian and Russian governments agree on something… but it doesn’t bode well for the prospect of WWIII. Days ago Ukraine’s defense minister called his country a de facto NATO member in a television interview. Well over a week has passed since the interview was published and even offered in English translation (which was done by Russian state media). And yet scant attention was paid in Western media – at least not on the level the remarks deserved. Here’s what DM Oleksii Reznikov said…

“At the NATO Summit in Madrid [in June 2022]…it was clearly delineated that over the coming decade, the …

Read more at: https://www.zerohedge.com/geopolitical/zh-geopolitical-week-ahead-globalization-feared-under-siege-davos-while-kiev-moscow

Microsoft Reportedly Plans To Cut Thousands Of Jobs This Week

Update (1430ET):

Here’s what people are saying about potential layoffs on an anonymous community app for the workplace called Blind:

“Microsoft does it in smaller phases and doesn’t cause a ripple in the news cycle,” someone said.

Remember, Microsoft offered US employees unlimited time off last week. Here’s what another person on Blind said:

“Switching to unlimited PTO is not a good sign though, because MSFT won’t have to pay out any Unused PTO when they do layoffs.”

Someone else said:

“A massive number of managers in Bing got a critical confidential meeting scheduled for Tuesday morning. Other than that, everything else I know about the layoff came from unconfirmed sources on Blind. But the time of this mass meeting lines up with the speculated Jan 17 – 18 layoff date.”

*  *  *

Update (1404ET):

Bloomberg now reports Microsoft plans to reduce jobs in engineering divisions on Wednesday.

The magnitude of the cuts couldn’t be learned, but the person, who asked not to be identified discussing confidential matters, said the reduction will be significantly larger than other rounds in the past year. Those cuts impacted less than 1% of the software giant’s workforce of more than 200,000.

*  *  *

The US tech sector layoffs continue with news that Micros …

Read more at: https://www.zerohedge.com/commodities/microsoft-plans-cut-thousands-jobs-sky-news-reports

Strikes Update: How nurses’ strikes on Wednesday will affect you

What you need to know about the nurses’ strike and other industrial action, by the BBC’s Zoe Conway.

Read more at: https://www.bbc.co.uk/news/business-64258402?at_medium=RSS&at_campaign=KARANGA

EU biometric border system faces more delays

A new border control system, which was pushed back to May, has been delayed to the end of the year.

Read more at: https://www.bbc.co.uk/news/business-64311737?at_medium=RSS&at_campaign=KARANGA

Paperchase hunts for buyer but prepares for insolvency

High Street stationery chain confirms it is hunting for buyer but talking to insolvency experts.

Read more at: https://www.bbc.co.uk/news/business-64307202?at_medium=RSS&at_campaign=KARANGA

Fundamental Radar: Down 20% in a year, 5 factors why this smallcap company is a value pick

With a competitive manufacturing base in India, the UK, the US, and Mexico, along with technical and logistical support worldwide, the company provides optimal product development and manufacturing solutions to its domestic and international customers.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/fundamental-radar-down-20-in-a-year-5-factors-why-this-smallcap-company-is-a-value-pick/articleshow/97048886.cms

US stocks open lower Goldman Sachs misses profit estimates

The Dow Jones Industrial Average fell 80.29 points, or 0.23%, at the open to 34,222.32

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/us-stocks-open-lower-goldman-sachs-misses-profit-estimates/articleshow/97064268.cms

Double trouble or booster shot? February 1 not just about Budget for Nifty trackers

In the first Fed meeting of 2023, Powell is widely expected to slow down the pace of interest rate hikes. CME FedWatch Tool shows a 91% probability of a 25 basis point rate hike in the two-day Jan 31-Feb 1 meeting.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/double-trouble-or-booster-shot-february-1-not-just-about-budget-for-nifty-trackers/articleshow/97047078.cms

Tesla earnings preview: Price cuts in focus as stock hovers around 2-year low

Earnings day arrives for Tesla Inc. with the EV maker and the stock under a cloud.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-717E-F042D0955699%7D&siteid=rss&rss=1

Key Words: BlackRock’s Fink says climate and ESG-investing attacks getting ugly, personal

Larry Fink, who called climate change the investing opportunity of his lifetime, says he’s still working to change the ESG narrative, misconceptions.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-717F-00F03AD4FA17%7D&siteid=rss&rss=1

Futures Movers: Oil prices end higher as investors weigh China demand outlook

Oil climbs Tuesday as investors assess data confirming a sharp slowdown in China’s economic growth last year, while looking ahead to a pickup in crude demand.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-717E-A95F85B6AFCA%7D&siteid=rss&rss=1