21Oct2020 Market Close: Stocks End Today Slightly Lower As Stimulus Talks Inch Forward

Big Oil Hamstrung In Tackling Methane Problem

When the coronavirus first spread around the world, emissions-tracking organizations reported good news: the drop in industrial activity and oil and gas drilling had resulted in lower emissions of a range of harmful chemicals. Yet despite this drop, emissions of one chemical continued to grow, unabatedand even increased. Big Oil has made ambitious pledges about methane emissions but this will not be enough to solve the problem. A recent report by data analytics company Kayrros revealed that global methane emissions grew by as much as 32

Brazils Oil Giant Petrobras Raises Production Forecast

Thanks to increased production at the prolific pre-salt offshore basin, Petrobras expects its oil and gas production this year to exceed earlier guidance, Brazils state oil firm said as it reported its production figures for Q3. Petrobras sees its average production for 2020, reaching 2.84 million barrels of oil per day (boed), of which 2.28 million bpd of oil, with a margin of error of 1.5 percent. This estimate exceeds by 2.5 percent the upper range of its original production guidance of 2.7 million boed total output and 2.2 million bpd

The Battle For More Efficient Energy

There is a war going on. And no, its not the one you think. This is a war against energy efficiency. The attack is on two fronts: a battle against energy efficiency standards on the part of the current United States administration which is generally anti-regulation, and an attack on the part of everyones favorite new common enemy, the novel coronavirus. The global pandemic has hurt nearly every economic sector, and its certainly not doing energy efficiency any favors, either. The virus, almost by design, hates efficiency

Global Oil Production Costs Continue To Fall

A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35% since 2014. This means that oil is much cheaper to produce now compared to six years ago, with the clear cost savings winner being new offshore deepwater developments. Our cost of supply curve for liquids now reveals that the required oil price for producing 100 million barrels per day (bpd) in 2025 has been in continuous

Suncor May Sell Stake In North Sea Oilfields

Canadas Suncor Energy is considering selling part of its assets in the North Sea amid a wave of consolidation in the mature offshore basin, Bloomberg reported on Wednesday, quoting sources with knowledge of the plans. Suncor hasnt formally launched a sales process but has approached potential buyers who have expressed interest in the fields in the UK and Norwegian parts of the North Sea, the sources said. One of the stakes that Suncor explores divesting is its 26.69-percent working interest in the Golden Eagle Area in the central

Israel And The UAE Sign Historic Oil Deal

Israel and the United Arab Emirates (UAE) signed this week a preliminary agreement under which crude oil from OPECs third-largest producer could be shipped to European markets via an oil pipeline in Israel connecting the Red Sea with the Mediterranean. In a major energy deal after Israel and the UAE agreed to normalize relations in September, Israeli state firm Europe Asia Pipeline Co (EAPC) and UAE-based MED-RED Land Bridge Ltd signed a memorandum of understanding for cooperation in transporting crude oil and fuel from the Gulf to

Regal shuttered 500 theaters two weeks ago, now it’s opening up 11 in New York

Two weeks after Cineworld closed more than 500 Regal Cinemas in the U.S., the second-largest movie theater chain is reopening 11 locations in New York state.

Covid infection rates will rise in New York and U.S. as state fights ‘microclusters,’ Cuomo says

“I think the scale is going to go up throughout the fall,” New York Gov. Andrew Cuomo said Wednesday.

AstraZeneca shares turn negative after Brazilian health authority says volunteer in Covid vaccine study dies

Shares of AstraZeneca, a front-runner in the Covid-19 vaccine race, gave up a slight gain after the news broke.

Holiday shoppers are crossing themselves off of the gift list, trade group says

Nearly all of that drop came from people who say they are hesitant to buy non-gift items for themselves or their families, despite holiday sales, the survey found.

GMC Hummer EV: 5 things to know about GM’s first electric ‘supertruck’

The 2022 Hummer EV is expected to be the pinnacle of General Motors’ electric vehicles.

Nikola shares surge after GM executive gives hope of keeping partnership deal alive

Shares of embattled electric vehicle start-up Nikola jumped double digits during premarket trading Wednesday following a General Motors executive saying the automaker still sees a tie-up with the company being a great opportunity.

Chipotle earnings top estimates as delivery boosts sales growth

Shares of Chipotle, which has a market value of $38 billion, have risen 62% so far this year.

Chipotle earnings: One trader’s lingering concern about the soaring stock ahead of the report

As Chipotle gears up to report third-quarter earnings after Wednesday’s closing bell, two traders share their predictions for the fast-casual chain’s future.

AutoNation reports ‘best quarter ever’ as Covid convinces people to buy their own cars, CEO says

“I think this pandemic/shelter in place has shifted the American psyche in a long-term way,” AutoNation’s Mike Jackson told CNBC on Wednesday

GM unveils Hummer EV as ‘world’s first supertruck’ for $112,600 starting in 2021

The new electric Hummer from General Motors will live up to the reputation of its predecessors for being capable and over the top but in different ways than the gas-guzzling vehicles that previously bore the name.

‘Long Covid’: These 5 factors make it more likely you’ll suffer long term from coronavirus

“Long Covid” is the term given to people who recover from coronavirus but continue to suffer from a wide range of symptoms.

California sets ‘unworkable’ requirements for theme park reopenings, Disney says

Officials in California, home to Walt Disney’s Disneyland, said Tuesday that large theme parks cannot reopen until a county’s Covid-19 risk level drops to the lowest tier of “minimal” spread.

Watch live: New York Gov. Andrew Cuomo holds a press briefing on Covid as cases climb across U.S.

New York Gov. Andrew Cuomo is holding a news conference on Wednesday as the state continues to address clusters of coronavirus cases.

Stocks Chop On Stimulus Slop, Bitcoin Jumps, Dollar Dumps

Stocks Chop On Stimulus Slop, Bitcoin Jumps, Dollar Dumps Tyler Durden Wed, 10/21/2020 – 16:00

The algos were busy today… buying on every mention of the words “hope” or “optimism” and selling at technical resistance as once again nothing happened…

“Piles Of Stolen Mail On The Side Of The Road”: Ballot Thefts Reported In Two Portland-Metro Suburbs

“Piles Of Stolen Mail On The Side Of The Road”: Ballot Thefts Reported In Two Portland-Metro Suburbs Tyler Durden Wed, 10/21/2020 – 15:45

New reports of stolen mail, including election ballots, are surfacing in the Portland-metro area.

Resident Stephanie Prendergast told KGW8 that when she returned to her home on Sunday her mail and her ballot were both gone. Other neighbors who had checked their mail on Saturday found their ballots, but those who waited until Sunday couldn’t find theirs.

“I noticed upon pulling up to our house that our mailbox was open. There was some junk mail, but no ballot.” she said.

Prendergast continued:”I think we’ve kind of entrusted that our mail is fine and our vote is fine. I would just really encourage people to not be lazy go get your mail. We might be looking into a locked mailbox in the future.”

“Plan For The Worst” – Law Enforcement Across America Is Bracing For Massive Election Riots

“Plan For The Worst” – Law Enforcement Across America Is Bracing For Massive Election Riots Tyler Durden Wed, 10/21/2020 – 15:25

Authored by Michael Snyder via The Economic Collapse blog,

The fact that law enforcement officials across the nation are expecting widespread violence following the election should chill every American to the core. As I keep repeating over and over, violence is not going to solve anything, but much of the population is not listening to voices such as mine anymore. As you will see below, authorities have decided to œplan for the worst because everyone can see what is potentially coming. But if we can’t hold a presidential election without violence at this point, how much longer can our system possibly last?Â

No matter who ends up winning, I think that the election of 2020 will tell us a lot about how far America has already fallen.

Fallout Begins: One Of Apollo’s Biggest Investors Halts New Commitments Over Leon Black’s Epstein Ties

Fallout Begins: One Of Apollo’s Biggest Investors Halts New Commitments Over Leon Black’s Epstein Ties Tyler Durden Wed, 10/21/2020 – 15:03

Less than 24 hours after it was reported that Apollo co-founder Leon Black’s relationship with Jeffrey Epstein would be reviewed by a group of Apollo’s independent board members after it emerged that Black had paid Epstein $50 million for various “services” after his conviction for soliciting sex with a minor, the first domino has fallen: according to the FT, one of the biggest US public pension funds – The Pennsylvania Public School Employees’ Retirement System – has frozen new investments with Apollo Global Management, amid “growing concerns about founder Leon Black’s relationship with the late paedophile Jeffrey Epstein take a toll on the $414bn private equity group.”

“After that phone conversation, PSERS Investment team informed Apollo that it will not consider any new investments at this time,” PSERS told the Financial Times.

According to PitchBook, PSERS is among the biggest backers of private equity funds in the world and contributed $225 million to the New York firm’s latest buyout vehicle; at this moment, PSERS has less than $1 billion invested with the private equity group.

Purdue Pharma to plead guilty in $8bn opioid settlement

The deal with the US Department of Justice settles some of the most serious claims against the OxyContin-maker.

Shortage of poultry workers could hit Christmas dinner

There are not enough EU workers to process the meat, says the British Poultry Council.

Waitrose and Co-op cut prices for ‘tough times’

The supermarkets are dropping prices in time for Christmas as many shoppers count their pennies.

How UltraTech’s robust Q2 recovery cements India’s growth credentials

In the earnings call, the management explained that improved demand from rural areas, the infrastructure segment, and mid-income or affordable housing boosted revenue in the quarter under review.

Why analysts are upbeat on Bajaj Finance even after a fall in Q2 profits

Near term profits and asset quality could be impacted due to pandemic but the business strengths of the company will help it overcome these headwinds.

Aditya Puri reveals why he sold HDFC Bank’s shares before retirement

Aditya Puri had sold off HDFC Bank shares worth Rs 843 crore last July, three months before retirement.

September 2020 Sea Container Imports Continue At Record Pace, Exports Not So Much

Written by Steven Hansen

The import container counts for the Ports of Los Angeles and Long Beach improved month-over-month and not only is well into expansion year-over-year and is continuing at record high levels. Exports continue in contraction year-over-year.

October 2020 Beige Book: Slight To Modest Growth Seen

Written by Steven Hansen

The consolidated economic report from the 12 Federal Reserve Districts (Beige Book) stated: “.. the pace of growth characterized as slight to modest in most Districts. Changes in activity varied greatly by sector”. The previous report stated: “Economic activity increased among most Districts, but gains were generally modest and activity remained well below levels prior to the COVID-19 pandemic”.

: Quibi may be calling it quits

The video-streaming service for mobile devices bet $1.75 billion on the notion it could transform entertainment with short, Hollywood-quality clips to watch “on the go” — even as much of the world was trapped at home because of COVID-19.