Tag Archives: middle

As the global oil and gas markets are recovering from the steep sell-off last Monday, threats in the market are not just linked to demand-supply concerns. Cybersecurity specialists reported this week that hackers managed to get access to a large amount of data from Saudi oil giant Aramco. The company has confirmed that around 1TB of (confidential) data was stolen from its servers. According to AP sources, the data has been put on offer on the darknet for a price of $50 million. It is at… Source link

Chip Somodevilla / Getty Images It’s easy to roll our eyes at outlandish spending from billionaires – say, buying NFTs or yachts – but their spending is good for the overall economy. Their savings, however, are not so good, according to new findings published in the Chicago Booth Review, which reports that the 1% has “buried” the middle class in debt with their saving habits. See: The Hype Around NFTs: What Are They? And How Pricey Do They Get?Find: These 15 Billionaires Got Richer… Source link

(Bloomberg) — Tucked between the Gulf of Oman and a craggy mountain range, the dusty port Fujairah isn’t an obvious base from which to try and revolutionize the Middle East’s oil markets. But on Monday, when Abu Dhabi begins selling futures contracts for its oil and then shipping the barrels from Fujairah, it will mark an aggressive shift by the emirate. It hopes to change the way nearly one-fifth of the world’s crude is priced. Persian Gulf states pump nearly 20 million barrels of oil… Source link

Billionaire investing icon Warren Buffett, the CEO of Berkshire Hathaway (BRK-B, BRK-A), reiterated his “never bet against America” maxim on Saturday in his annual letter to shareholders. “Today, with much of finance, media, government and tech located in coastal areas, it’s easy to overlook the many miracles occurring in middle America,” Buffett wrote in the widely-read letter. The 90-year-old Omaha, Nebraska native, who has an estimated net worth of $92.7 billion, is widely… Source link

By Simon Jessop LONDON (Reuters) – Global shares rose for the 11th day in a row to reach a fresh peak on optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high. As more people are vaccinated across key markets such as the United States, and with U.S. President Joe Biden looking to pump an extra $1.9 trillion in stimulus into the economy, the so-called reflation trade has gathered steam in recent days. On… Source link

Pardon stating the obvious, but World Series games are important. Important enough that every plate appearance, every pitch is important. Championship-deciding. Basically, they are not the time you want to see a pitch thrown straight down the middle of strike zone called a ball. And yet, late in Game 4 of the 2020 World Series, home plate umpire Chris Guccione delivered one of the biggest endorsements for robot umpires you will ever see. It happened in the eighth inning, with two men on and… Source link

Southwest Airlines (LUV) on Thursday reported a net loss of $1.2 billion on revenue of $1.8 billion in the third quarter. Chairman and CEO Gary Kelly says the coronavirus pandemic continues to cause huge losses for the airline but he is encouraged, “by modest improvements in leisure passenger traffic,” since a slowdown in July. Here are the quarterly results compared to consensus estimates compiled by Bloomberg: Diluted earnings loss per share: net loss of $1.96 per share vs. expected loss… Source link

Jul 30th 2020 IT MAY BE just 21 years old, but Google is in the midst of a mid-life crisis. As so often in such cases, all seems well on the surface. Every day its search engine handles 6bn requests, YouTube receives 49 years’ worth of video uploads and Gmail processes about 100bn emails. Thanks to its dominance of online advertising, Google’s parent company, Alphabet, made a profit of $34bn last year. Beyond its core operations, it is a world leader in artificial intelligence (AI),… Source link