• By boosting renewables & power sector efficiency, economies in the Middle East & North Africa could free up natural gas for export while accelerating their clean energy transitions. More from IEA’s @WannerBrent & @alialsaffar in our recent commentary ? Link
    International Energy Agency Thu 11 Aug 2022 13:19

    Oil and gas producers in the Middle East and North Africa have been a cornerstone of the global energy system for decades, recently accounting for about 50% of oil exports and 15% of natural gas exports worldwide. As markets tighten due to lost supplies from Russia following its invasion of Ukraine, Middle Eastern and North African producers with a long track record of providing stable energy supplies could play a vital role in averting global shortages.  

    But this near-term increase in demand for oil and gas from non-Russian suppliers contrasts with the need for longer-term structural declines in global fossil fuel use as energy systems transition towards cleaner energy sources. The immediate incentives facing producers amid today’s crisis could lead to longer-term investments that are inconsistent with sustainable energy pathways. How can these tensions be reconciled?

    The producer economies of the Middle East and North Africa have various options to...

  • RT @wealth: Why more Americans are buying homes in France Link
    Businessweek Thu 11 Aug 2022 13:19

    American buyers are house hunting in France, motivated by a strong dollar and spare cash.

    Searches for French properties by US-based buyers jumped 37% in the first five months of 2022 compared to the same period last year, according to real estate company Knight Frank, with Paris, Provence, the French Riviera and southwest France among the most sought-after areas. 

  • RT @wealth: Worried about inflation? More than 1 in 3 Americans earning at least $250,000 annually say they are living paycheck to paycheck…
    Businessweek Thu 11 Aug 2022 13:19
  • The UK is taking steps to extend the recognition of securitisations designated as simple, transparent and standardised in the EU for two more years as it works on an equivalence regime for deals from around the world. Link https://t.co/nfTEAvLvag
    IFR Thu 11 Aug 2022 13:19

    The UK is taking steps to extend the recognition of securitisations designated as simple, transparent and standardised in the EU for two more years as it works on an equivalence regime for deals from around the world.

    The proposed extension was included in a draft law that was published on July 5 and recently picked up by lawyers at Morgan Lewis, who wrote in an update on August 9 that it would be welcomed by market participants.

    Securitisations that qualify as STS benefit from favourable capital treatment on bank and insurance company balance sheets, boosting demand for the bonds. The rules were finalised by the EU in 2019, after years of debate.

    The framework was copied into UK law when the nation left the EU and has gone through several amendments since the end of the Brexit transition period, including one to allow transactions designated as STS in Europe to qualify automatically as STS in the UK for the entire lifespan of the deal.

    Originally, this...

  • Climate risks dwarf Europe's energy crisis, space chief warns Link https://t.co/2hVXYl4FIv
    Reuters Business Thu 11 Aug 2022 13:19

    PARIS, Aug 11 (Reuters) - The head of the European Space Agency (ESA) has warned economic damage from heatwaves and drought could dwarf Europe's energy crisis as he called for urgent action to tackle climate change.

    Director General Josef Aschbacher told Reuters successive heatwaves along with wildfires, shrinking rivers and rising land temperatures as measured from space left no doubt about the toll on agriculture and other industries from climate change.

    "Today, we are very concerned about the energy crisis, and rightly so. But this crisis is very small compared to the impact of climate change, which is of a much bigger magnitude and really has to be tackled extremely fast," he said.

  • Ivana Trump's Money Lessons for Older Americans Link
    zerohedge Thu 11 Aug 2022 13:19

    Authored by Richard Rosso via RealInvestmentAdvice.com,

    Ivana Trump, the first wife of Donald Trump, was recently found dead in her Manhattan residence. She was 73.

    Known throughout her life as a dynamo socialite and dealmaker in heels, her death from a blunt trauma from a fall down the stairs in her multi-story townhome, was a shock to residents who perceived her as vibrant and full of life. So, her passing got me thinking about Ivana Trump’s money lessons for older Americans.

  • Zurich posts highest first-half profits since 2008 financial crash Link https://t.co/B7MM534BnR
    City A.M. Thu 11 Aug 2022 13:19

    Swiss insurance company Zurich today posted its highest first-half profits since the financial crash of 2008 and its second highest profits ever.

    The insurer said its business operating profits increased 25 per cent compared to last year to long-term highs of $3.393bn.

    The uptick in Zurich’s profits, which saw it second best results ever, came on the back of a 32 per cent uptick in profits from the Swiss insurer’s property and casualty business.

    The 32 per cent uptick, as a result of higher premiums and lower weather and natural catastrophe related claims, saw profits from Zurich’s property and casualty division jump to $2.055bn.

    The higher profits were however partially offset by a $51m loss from Zurich’s hedge fund portfolio due to the “adverse financial markets”.

    Profits from Zurich’s life insurance business also increased 13 per cent, to $903m, as a drop in Covid-19 claims in the insurer’s Europe, Middle East, and Africa business...

  • Profits at M&G plunge to £182m as market turbulence hits Link https://t.co/pG9vyWM5YM
    City A.M. Thu 11 Aug 2022 13:19

    Investor M&G reported its profits had slumped by nearly half in the first six months of the year after it was rocked by “adverse market movements” and soaring inflation. 

    Pre-tax profits at the Lodon-listed investment manager hit £182m at the end of June, down from £327m in the same period last year, as assets under management fell by £21.1bn to £348.9bn.

    Total capital generation also plunged to £24m, down from £86m last year as a result of increasing yields and falling equity markets.

    Bosses said they were encouraged by a boost in inflows however, with net inflows hitting £1.2bn, reversing £2bn in net outflows.

    “This is an encouraging set of results and provides evidence that M&G is continuing to build momentum,” said John Foley, chief executive of the firm.

    “Improved client flows underpinned a resilient operational and financial performance despite a period of volatility when many investors reduced their exposure to...

  • Live Market Update from the CMC dealing desk - US Opening Calls: #NDX 13472 0.7% #SPX 4238 0.67% #DOW 33547 0.71% Prices are indicative only. $NDX $SPX $DOW $ES_F $NQ
    CMC Markets Thu 11 Aug 2022 13:19
  • Moving from the US to Europe was a great decision. Here's how I relocated and what visas I needed. Link
    Insider International Thu 11 Aug 2022 13:19
    Drew Philp moved from Detroit to Berlin in 2021 when COVID-19 travel restrictions were lifted. Philp, a freelance writer, found a cheap apartment and a more forgiving work-life balance. Here's what getting accommodation and a visa involved — and why he's happier there.
    *Walter Bloomberg Thu 11 Aug 2022 13:19
  • Wildfires rage, farmers struggle as another heatwave bakes western Europe Link https://t.co/W1JH9XYavf
    Reuters Thu 11 Aug 2022 13:19
    'Monster' fire consumers nearly 7,000 hectares in FranceESA chief urges immediate action to fight climate changeSwiss army airlifts water to cows in Alpine meadowsGig-economy workers decry labour rights as temperatures soar
  • The link to this morning's CNBC conversation with Andrew Ross Sorkin. Thank you Andrew. Link #economy #markets #fed #federalreserve #centralbanks #investing #investors #inflation @SquawkCNBC @CNBC @andrewrsorkin
    Mohamed A. El-Erian Thu 11 Aug 2022 13:19
    Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins CNBC's 'Squawk Box' to react to July's key inflation report and what it means for future interest rate hikes from the Federal Reserve.
  • RT @odin_free: @coltBTC ETH under PoS has a Nakamoto coefficient of 12 (Bitcoin 4). the eip-4444 will help to decentralize ETH further.…
    FxMacro Thu 11 Aug 2022 13:14
  • At least 13 civilians killed in Sierra Leone protests, say mortuary staff Link https://t.co/HrvxMoAgca
    Reuters Thu 11 Aug 2022 13:14
  • Magic Circle law firm Freshfields has hired a former Goldman Sachs banker to boost its business advising private equity firms on debt financing Link
    Bloomberg Markets Thu 11 Aug 2022 13:14
    Goldman Sachs Group Inc. banker to boost its business advising private equity firms on debt financing transactions. 

    Carol Van der Vorst will join London-based Freshfields’ leveraged finance team as a partner, according to a statement Thursday. She was most recently at rival law firm

  • RT @BloombergLive: The #BloombergTech Summit convenes policymakers, entrepreneurs, founders, and investors to share how they and the wider…
    Bloomberg Markets Thu 11 Aug 2022 13:14
  • OPEC expects global oil markets to tip into surplus this quarter as it downgraded the outlook for demand and bolstered estimates for rival supplies Link
    Bloomberg Markets Thu 11 Aug 2022 13:14
  • RT @FedCommunities: #BlackOwned businesses struggled to access pandemic related financing at the same rate as white-owned businesses. Could…
    Atlanta Fed Thu 11 Aug 2022 13:14
  • RT @luxury: David Bowie has been named Britain's most influential artist of the last 50 years Link
    Businessweek Thu 11 Aug 2022 13:14

    David Bowie has been named Britain's most influential artist of the last 50 years for his ability to transcend music, film and fashion.

    The Starman musician topped the Sky Arts list of 50 influential artists ahead of 12 Years A Slave Oscar-winning filmmaker Sir Steve McQueen and It's A Sin writer Russell T Davies, who revived Doctor Who in 2005.

  • RT @luxury: A major clue to the success of "Only Murders in the Building" Link
    Businessweek Thu 11 Aug 2022 13:14
    just renewed for a third season and garnered a host of Emmy nominations—including Outstanding Comedy Series, Lead Actor (for Martin and Short), and Outstanding Contemporary Costumes. Fans tune in for the chemistry between the leads, the whodunit mysteries, and the impressively curated Upper West Side styling.

  • RT @luxury: Where celebrities go to resole that Louboutin red and clean those Gucci kicks Link
    Businessweek Thu 11 Aug 2022 13:14
    Shoe Lab started in January 2020 as a local cobbler that cleaned Adidas Gazelles for £10 ($12). Now it’s a UK-wide service that fixes up hundreds of pairs of Gucci, Balenciaga, and Louis Vuitton shoes every week.

  • RT @wealth: The rent on new Manhattan apartment leases jumped to a median of $4,150 in July, the sixth straight month of record highs https…
    Businessweek Thu 11 Aug 2022 13:14
  • RT @wealth: Rental costs in the US are soaring at the fastest pace in more than three decades Link
    Businessweek Thu 11 Aug 2022 13:14

    A Las Vegas bartender coping with a recent cancer diagnosis is fearing eviction. A young professional in Tucson is skipping car payments to afford her higher rent. A researcher in Miami signed the lease for her new apartment sight unseen. 

    Rental costs in the US are soaring at the

    *Walter Bloomberg Thu 11 Aug 2022 13:09

    Twitter is the place to find real-time, reliable information about the 2022 midterms  – whether you’re looking for breaking news from reporters, information on voting, or policy positions from candidates. We aim to enable healthy civic conversation on Twitter, while ensuring people have the context they need to make informed decisions about content they encounter. Because we’re a global service, there’s almost always an election happening on Twitter. 

    Today, we’re announcing steps we’re taking ahead of the US midterms to protect civic conversation on Twitter. 

    Our Civic Integrity Policy 

    As a key part of the Twitter Rules, since 2018, our Civic Integrity Policy has helped people find credible information during elections and other civic processes — including in the Philippines, Kenya, Australia, Brazil, and India – just this year.

    Today, as we do ahead of other global elections, we’re activating enforcement of our Civic...

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