03Jun2021 Midday Update: More Than 2 Billion Tons Of Coal Mining Capacity Is About To Come Online, WTI Crude 68.65, US Dollar Higher 90.53, DOW Up 52 Points At 1 ET

Here is the current market situation from CNN Money

North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively.

Extreme Drought Puts Californias Power Supply At Risk

A more severe than usual drought in California has depleted reservoirs and lakes, including the ones feeding some of the largest hydropower facilities, putting the state again at risk of power outages during heat waves this summer. Last year, residents in California went through rolling outages as there was insufficient energy to meet the high demand during the heatwave. This year, the drought in California has reduced output of hydropower stations and could force the state with ambitious emission-reduction targets to rely more on its remaining

”We’ll See $200 Oil”: Russia & OPEC MinistersBlastIEA’s Net Zero Plan

After in recent months crude oil prices have clearly recovered from their COVID-19 slump on steadily increasing demand, Russian Deputy Prime Minister Alexander Novak addressed the much-anticipated decision-making at the upcoming OPEC+ conference set for August and the expectation that it will decide to raise output significantly beyond the current pandemic-induced strategy of gradually releasing more barrels into a strengthening oil market. Novak said in hisThursday remarksat theSt Petersburg International Economic Forumthat

More Than 2 Billion Tons Of Coal Mining Capacity Is About To Come Online

More than 2.2 billion tons in annual coal mining capacity is currently under development, threatening the Paris Agreement targets, environmental think-tank Global Energy Monitor said in a new report. The report notes that most of this capacity, or some 1.663 billion tons annually, is in the early stages of development and could be canceled, but the rest is already under construction. The prospect of a low-carbon transition puts these projects at risk of up to $91 billion USD in stranded assets, Global Energy Monitor said, adding But

EIA Inventory Report Sends Oil Higher

Crude oil inventories in the United States shed 5.1 million barrels in the week to May 28, the Energy Information Administration reported today, adding inventories were now at 3 percent below the five-year average for this time of the year. A day earlier, the American Petroleum Institute estimated crude oil inventories had declined by a solid 5.36 million barrels in the reporting period, pushing prices higher. Analysts had expected the EIA to report an inventory decline of 2.114 million barrels. In gasoline, the EIA estimated an inventory build

Commodity Firms Race To Hire Metal Traders

Amid booming demand for key metals in the energy transition, the worlds largest commodity traders, as well as some hedge funds, are racing to hire metals traders to capitalize on the demand for critical minerals, Reuters reported on Wednesday, quoting sources with direct knowledge of the hiring spree. Trafigura, for example, became last year the first commodity trading company to establish a low-carbon aluminum trading desk and established a non-ferrous metals business development unit. During 2020, Trafiguras non-ferrous Metals and

Activist Investor Wins Third Exxon Board Seat

Activist investor hedge fund Engine No.1 has won a third seat on the supermajors board of directors in an unprecedented shift of shareholder sentiment in the oil and gas industry. We look forward to working with all of our directors to build on the progress weve made to grow long-term shareholder value and succeed in a lower-carbon future, said Darren Woods, chairman and chief executive of Exxon. We thank all shareholders for their engagement and participation, and their ongoing support for our company.

U.S. to share majority of donated Covid vaccine doses through WHO program, White House says

The U.S. plans to allocate 75% of the vaccines through the COVAX global vaccine sharing program, according to details released in a White House email Thursday.

Ice Cube’s Big3 basketball league signs media rights deal with Triller – here’s what it means

The agreement will see Triller host the Big3 first all-star game and could feature signage opportunities on ViacomCBS platforms.

Stocks making the biggest moves midday: AMC, BlackBerry, Ford and more

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

World’s largest offshore wind farm developer to recover, reuse or recycle turbine blades

The number of wind turbines looks set to increase as governments around the world attempt to reduce emissions.

Watch live: Biden Covid team holds briefing as U.S. doubles down on vaccine efforts

President Biden’s Covid-19 response team is holding a news briefing Thursday on the nation’s response to the coronavirus pandemic.

Daily U.S. Covid case counts remain below 20,000 as nation averages 1.1 million vaccine shots per day

The level of average daily Covid cases remained below 20,000 for the third straight day Wednesday, according to data compiled by Johns Hopkins University.

Ford to expand profitable truck lineup with new small Maverick pickup

The Ford Maverick pickup is expected to be among the smallest and cheapest pickups in the U.S., filling a void for some buyers.

Express stock tumbles after retailer announces plan to sell 15 million shares

Stock of the retailer Express tumbled Thursday, after the clothing retailer announced plans to sell up to 15 million shares.

United Airlines will buy 15 ultrafast airplanes from start-up Boom Supersonic

Boom says its first commercial supersonic jet, the Overture, will fly at Mach 1.7 and cut some flight times in half.

Ex-TD Ameritrade CEO warns meme stock traders that leverage could ‘rip your arms off’

“They got to be able to understand when they use leverage what that really means,” former brokerage chief Joe Moglia told CNBC on Thursday.

Space debris tracker LeoLabs raises $65 million as satellites launch to orbit at unprecedented rate

LeoLabs, a private venture that tracks objects and debris in orbit through a network of radars, raised $65 million in capital in new fundraising round.

AMC files to sell 11 million shares ” stock immediately tanks

Shares of AMC cut its gains in premarket trading, rising just 2% after gaining more than 20% earlier.

The Hacks Keep On Comin’: Mass. Ferry Service Suffers Cyberattack; New York’s MTA Admits April Breach

The Hacks Keep On Comin’: Mass. Ferry Service Suffers Cyberattack; New York’s MTA Admits April Breach

In what is certain to be a recurring theme that has already been thrust into prominence with recent ransomware hacks of the Colonial Pipeline and JBS, the world’s largest meat producer, cybercriminals struck yet another target on Wednesday: the US state of Massachusetts ferry system. Additionally, the MTA admitted this week that it was the target of an April attack.

Service between several upscale northeastern coastal communities was disrupted as a result of the ferry system attack, according to AFP. The attack was reported by The Steamship Authority of Massachusetts, which offers ferry service between Cape Cod, Nantucket and Martha’s Vineyard.

The Authority tweeted out:Â “There is no impact to the safety of vessel operations, as the issue does not affect radar or GPS functionality.”‘

Bowser’s About Face: DC Admits Using Tear Gas Against Protesters, Seeks To Dismiss BLM’s Lafayette Park Lawsuit

Bowser’s About Face: DC Admits Using Tear Gas Against Protesters, Seeks To Dismiss BLM’s Lafayette Park Lawsuit

Authored by Jonathan Turley,

Below is my column in the Hill on the District of Columbia not only admitting that it used tear gas on June 1 last year near Lafayette Park, but also defending the use as entirely appropriate to enforce the curfew order of Mayor Muriel Bowser. The media has avoided on the story despite Bowser’s previous condemnations of the alleged use of tear gas that night by the federal agencies. (The federal agencies claimed to have use pepper balls but the affect is largely the same).

Both the Bowser and Biden Administrations are seeking to dismiss the Black Lives Matter lawsuit. Yet, the host of legal experts and media who condemned the use of tear gas and the clearing of the Lafayette park area last year are entirely silent on the disclosures.

Tesla Recalls 6,000 Vehicles Over Brake Caliper Bolts That Could “Increase Risk Of A Crash”

Tesla Recalls 6,000 Vehicles Over Brake Caliper Bolts That Could “Increase Risk Of A Crash”

At a time when Tesla can least afford further quality issues, the company has announced it is recalling 5,974 of its EVs over the very same issue that was brought to light during a Shanghai Auto Show protest in April: brakes.

The company is performing the recall on certain 2019-2021 Model 3 and 2020-2021 Model Y vehicles “over concerns that their brake caliper bolts might loosen, which could potentially cause a loss of tire pressure and increase the risk of a crash”, according to CNBC.

The company says it is “not aware of any crash or injury resulting from the potential defect” and that it’ll inspect or replace brake caliper bolts for free, as necessary. The company became aware of the issue after a “field incident involving a 2021 Model Y with a missing fastener on the dri …

Former MI6 Head Warns China Will Have Had Lab Leak Evidence “Destroyed Or Made To Disappear”

Former MI6 Head Warns China Will Have Had Lab Leak Evidence “Destroyed Or Made To Disappear”

Authored by Steve Watson via Summit News,

The former head of British intelligence agency MI6, who previously said he believes the coronavirus outbreak originated from a lab leak in Wuhan, has warned that it may be too late now to hold the communist state accountable because it will have probably destroyed all the evidence.

Speaking on a London Telegraph podcast, Sir Richard Dearlove lamented that the paper trail of ‘gain of function’ research at the Wuhan Institute of Virology will likely be gone now.

œWe don’t know that’s what’s happened, but a lot of data has probably been destroyed or made to disappear so it’s going to be difficult to prove definitely the case for a gai …

Travel sector dismay as Portugal faces tougher rules

Portugal will be taken off the green list for travel from next Tuesday, sparking stinging criticism from Easyjet’s boss.

AMC cinema chain issues warning to small investors

Issuing a new share sale, the firm warned investors could lose their money if they bought at current prices.

Indoor dining boost drowned out by record May rain

Footfall on UK High Streets and shopping centres was “muted” despite indoor hospitality reopening.

65% jump in a month! Ruchi Soya seeks to add heft with healthy food

The scrip soared 5 per cent to hit to settle at Rs 1,137.50 on Thursday.

SEBI ups overseas investment limits for individual mutual funds to $1b

The capital market regulator said that individual mutual funds can now make up to $1 billion in overseas investments within the overall industry limit of $7 billion.

India to seek LIC mega IPO bank proposals in June

The government will send out invitations in the coming weeks for the share sale of the country’s biggest insurer, said the people, who asked not to be identified as the discussions are private. An offering could happen as soon as March 2022, the people said.

1Q2021 Final Headline Productivity Improves

Written by Steven Hansen

A simple summary of the headlines for this release is that labor costs growth grew on a quarter-over-quarter basis whilst productivity improved more.

: Want a richer, happier life? Learn how to invest.

MarketWatch is launching How to Invest, a newsletter and video series that will cover not just how to understand markets and finance, but how to invest your money to pursue a richer, happier, more meaningful life.

Coronavirus Update: Covax gets $2.4 billion in COVID vaccine supply commitments for world’s poorest countries as experts warn on variants

The global tally of COVID-19 cases neared 172 million on Thursday, and the number of vaccines administered edged closer to 2 billion, a day after a summit ended with pledges of $2.4 billion to the Covax program that aims to secure vaccine supply for the world’s poorest countries.

: Few, if any, financial advisers expected to recommend bitcoin and dogecoin to clients ” here’s how many now suggest buying crypto

A new report by the Financial Planning Association looks at the changing attitudes to cryptocurrencies like bitcoin and dogecoin.