Shell Reports Record Earnings of $39.9 billion for 2022

Shell Reports Record Earnings of $39.9 billion for 2022

Shell just reported adjusted earnings of $39.9 billion for 2022, double the earnings from 2021, becoming the latest Big Oil firm to deliver record profits for last year. Shell’s adjusted earnings doubled to $39.9 billion in 2022 from $19.3 billion in 2021,...
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Florida’s Gov. DeSantis Declares Financial War On ‘Woke’ Universities

Florida’s Gov. DeSantis Declares Financial War On ‘Woke’ Universities

Florida Gov. Ron DeSantis threw down the gauntlet on fixing higher education on Jan. 31, vowing to eliminate all funding for Diversity, Equity, Inclusion (DEI), and Critical Race Theory (CRT) throughout the state. Public universities should not be in the...
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Lebanon to devalue currency by 90% on Feb. 1

Lebanon to devalue currency by 90% on Feb. 1

Lebanon will adopt a new official exchange rate of 15,000 Lebanese pounds per US dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years....
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Hedge Funds Are Record Short Bonds

Hedge Funds Are Record Short Bonds

  2023 started with a buying-panic in bonds (approaching their best start to a year in over 30 years at one point) as confidence grew about The Fed’s terminal rate (not as high as some feared) and a soft landing...
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Qatar Investment Authority doubles stake in Credit Suisse

Qatar Investment Authority doubles stake in Credit Suisse

The Qatar Investment Authority (QIA) now owns 6.8% of Credit Suisse’s shares, second only to the 9.9% stake purchased by the Saudi National Bank last year as part of a $4.2 billion capital raise. Combined with the 3.15% owned by...
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Chevron (CVX) posted mixed fourth-quarter results early Friday, missing on earnings views while topping revenue estimates. The energy giant reported record profits and cash flow for 2022, on top of its earlier announcement launching a massive $75 billion share...
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Toyota’s CEO To Step Down As New Chief Will Remodel Automaker

Toyota’s CEO To Step Down As New Chief Will Remodel Automaker

Akio Toyoda, the CEO of Toyota Motor Corporation and grandson of the company’s founder, is stepping down after leading the world’s largest automaker for 14 years, according to Nikkei Asia. Chief Branding Officer Koji Sato will replace Akio Toyoda ...
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Australia Procures UH-60M Black Hawk Helicopters, Replacing MRH-90 Taipan

Australia Procures UH-60M Black Hawk Helicopters, Replacing MRH-90 Taipan

The acquisition will be made as part of the Project LAND 4507-1 of the Australian Army, and would be done through US Foreign Military Sales (US FMS) program. The deliveries of the Black Hawk helicopters are expected to start later...
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Boeing Tumbles On Unexpected Q4 Loss

Boeing Tumbles On Unexpected Q4 Loss

Boeing reported an unexpected loss to end 2022 as the planemaker grappled continued to grapple with high costs that threaten to slow further its already moribund recovery. The aerospace giant reported an adjusted EPS loss of $1.75 in the fourth...
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History: The first ETF launched 30 years ago, revolutionizing investing

History: The first ETF launched 30 years ago, revolutionizing investing

30 years ago, the launch of the first exchange-traded fund ushered in a new era of investing. Now, the industry is bringing exotic trading strategies to the masses. The SPDR S&P 500 ETF Trust, which tracks the benchmark U.S. stock...
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Natural Gas Pipeline Connecting Lithuania And Latvia  Was Rocked By An Explosion

Natural Gas Pipeline Connecting Lithuania And Latvia Was Rocked By An Explosion

On Friday at around 5pm an explosion occurred in the Amber Grid gas pipeline in Pasvalys district. According to initial data, no people were injured. The explosion took place away from residential buildings. The fire is being extinguished by the...
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Freeport LNG Denies Reuters Report

Freeport LNG Denies Reuters Report

Freeport LNG has denied a Reuters report citing unnamed sources as saying that the restart of its Texas facility will be pushed back to February due to regulatory approval issues. On Wednesday, Reuters published a story citing three unnamed sources as saying...
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Pentagon Drops COVID-19 Vaccine Mandate For Troops

Pentagon Drops COVID-19 Vaccine Mandate For Troops

More than 8,400 troops were forced out of the military for refusing the dangerous jab. After football players, basketball players and sports commentators drop like bowling pins every day on live TV watch, Department of Defense (Pentagon) announced on Tuesday.....
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Russia Restores Output At Sakhalin-1 Oil Project After Exxon Exit

Russia Restores Output At Sakhalin-1 Oil Project After Exxon Exit

Russia has ramped up oil production from the Sakhalin-1 project and expects the field to soon pump at the full level of 220,000 barrels per day (bpd) after the project’s previous operator, U.S. supermajor ExxonMobil, quit Russian operations, an industry...
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Dozen Dead, Over 100,000 Without Power In California

Dozen Dead, Over 100,000 Without Power In California

A moisture conveyor belt of atmospheric rivers continues to pound storm-battered California as the latest system could be the most severe yet. Power outages plague Northern California, as a dozen people have died across the Golden State in the last two weeks...
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