Author: Press Room

ASTANA (Reuters) – Kazakhstan has started arbitration proceedings against companies developing its giant Kashagan and Karachaganak oilfields over $13 billion and $3.5 billion, respectively, in deducted costs, Energy Minister Almasadam Satkaliyev said on Tuesday. “I can only say these lawsuits have been filed in the interest of the people of Kazakhstan,” Satkaliyev told reporters, refusing to provide any further details about the claims. The offshore Kashagan field, one of the biggest discoveries in recent decades, is being developed by Eni, Shell (LON:), TotalEnergies, ExxonMobil (NYSE:), KazMunayGas, Inpex and CNPC. Eni, Shell and KazMunayGaz are also partners in Karachaganak, alongside Chevron…

By Kevin Buckland TOKYO (Reuters) – The U.S. dollar eased on Tuesday following its best rally this month against major peers as a resilient U.S. labour market bolstered the case for a Federal Reserve rate hike next month. At the same time, bets for a peak in U.S. rates in coming months spurred leading cryptocurrency bitcoin to top $30,000 for the first time since June. The Australian dollar jumped 0.46% to $0.66725, clawing back all of the previous day’s losses, amid a thawing of trade tensions with China, as the pair agreed to end a dispute over Australian barley. The…

By Harry Robertson LONDON (Reuters) – Investors poured $367 billion into U.S. money market funds in March, according to data provider EPFR, as the collapse of Silicon Valley Bank caused stocks to tumble and called the safety of bank deposits into question. In Europe, investors put 17.7 billion euros ($19.35 billion) into euro-denominated money market funds in March, Refinitiv Lipper data shows, when the Credit Suisse crisis rocked markets. That was a big jump from the previous three months, and the biggest inflow since November in the aftermath of the UK’s disastrous budget. But the inflows in Europe pale in…

BlackRock’s stock (NYSE: BLK) has lost 7% YTD as compared to the 7% rise in the S&P500 index over the same period. Further, at its current price of $656 per share, the stock is trading 13% below its fair value of $750 – Trefis’ estimate for BlackRock’s valuation. The company surpassed the consensus estimates in the fourth quarter of 2022, despite a 15% decrease in total revenues to $4.3 billion. The top line primarily suffered due to a drop in market valuations and the negative impact of foreign exchange movement, hurting the Assets under Management (AuM). Markedly, AuM reduced by…

The economist known as “Dr. Doom” is warning that the recent banking crisis could undermine the Fed’s efforts to engineer a soft landing without a recession as it tries to tamp down inflation. Nouriel Roubini, the CEO of Roubini Macro Associates and an economics professor at New York University, appeared Monday on FOX Business’ “The Claman Countdown” and told host Liz Claman that the U.S. banking system — particularly regional banks — will struggle in the near term. Claman asked if First Republic Bank’s recent announcement that it would suspend its quarterly dividend on preferred stock indicates U.S. banks and…

The FBI recently warned consumers against using free public charging stations, saying crooks have managed to hijack public chargers that can infect devices with malware, or software that can give hackers access to your phone, tablet or computer.”Avoid using free charging stations in airports, hotels or shopping centers,” a tweet from the FBI’s Denver field office said. “Bad actors have figured out ways to use public USB ports to introduce malware and monitoring software onto devices. Carry your own charger and USB cord and use an electrical outlet instead.”The FBI offers similar guidance on its website to avoid public chargers.…

Shares of Japanese trading houses rose in Tuesday afternoon trade after Warren Buffett, chairman and CEO of Berkshire Hathaway, said he plans to increase his holdings.In an interview with Nikkei, Buffett said he is considering additional investment in five major Japanese trading houses, adding that he was “very proud” of his existing investments in them.Shares of Mitsubishi Corp. rose 2.7% in Japan’s afternoon trade, Mitsui & Co. gained 2.6%, Itochu Corp climbed 2.5% and Marubeni Corp. advanced 3.7%. Sumitomo Corp. also rose 2.7%.Buffett told Nikkei that he is planning to meet with the companies later in the week “to really just have…

Parents invest so much of themselves, emotionally and financially, in raising their children — but the time comes when a parent has to stop subsidizing their adult children’s everyday expenses. Think housing, health insurance, car payments, cell phones, credit cards, subscription services, student loans and travel. And, as it turns out, kids and parents don’t agree on just when exactly that time should be. A new survey from Bankrate found that Gen Z adults (between the ages of 18 and 26) think parents should slow their roll on when to stop paying for them. Take housing. Gen Z adults said…

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Bitcoin, the original and most prominent cryptocurrency, has once again shattered expectations by surging past the $30,000 resistance level, leaving investors and market analysts alike wondering where it will head next. This remarkable milestone highlights the growing acceptance and mainstream adoption of digital currencies, as well as their potential to disrupt traditional financial systems. As the excitement around Bitcoin’s meteoric rise continues to build, market participants eagerly speculate on its future trajectory and the next price target in the ever-evolving landscape of cryptocurrency investments.MicroStrategy’s Michael Saylor Champions Corporate Bitcoin Adoption as Company Gains on InvestmentMichael Saylor, the founder and executive chairman of…