How Much Is Monster Beverage Corporation (NASDAQ:MNST) Paying Its CEO?

Reuters
ASML extends sales deal with Chinese chipmaker SMIC to end of 2021
ASML Holding NV has extended a deal to sell chip manufacturing equipment to Semiconductor Manufacturing International Corp, China's largest chipmaker, until the end of this year, the Dutch company said in a statement on Wednesday. ASML made the statement after SMIC on Wednesday disclosed a volume purchase agreement under which it has already spent $1.2 billion with the toolmaker. In a clarifying statement issued several hours later, ASML said the agreement began in 2018 and was slated to expire at the end of 2020, but the two companies agreed in February to extend the deal to the end of this year.
5h ago
Reuters
Robinhood, a go-to for young traders, benefits from short sale demand
Robinhood, the online brokerage used by many retail traders to pile in to heavily shorted stocks like GameStop Corp, has made an ambitious push into loaning out its clients' shares to short sellers as it expands its business. The size of the jump highlights Robinhood's rapid growth over the past year as the number of retail investors has soared in the work-from-home environment during the pandemic and as retail brokers have largely eliminated trading fees, a model Robinhood helped pioneer. Menlo Park, California-based Robinhood is expected to go public this year with a valuation of more than $20 billion.
1d ago
Bloomberg
A $21 Trillion Treasuries Mystery Is Bedeviling Global Markets
(Bloomberg) -- Bond traders have been saying for years that liquidity is there in the world’s biggest bond market, except when you really need it.Last week’s startling gyrations in U.S. Treasury yields may offer fresh backing for that mantra, and prompt another bout of soul-searching in a $21 trillion market that forms the bedrock of global finance. While stocks are prone to sudden swings, such episodes are supposed to be few and far between in a government-debt market that sets the benchmark risk-free rate for much of the world.Yet jarring moves occur periodically in Treasuries, forming a bit of a mystery as no two events have been the same. Some point to heightened bank regulations in the wake of the 2008 financial crisis. Scrutiny over liquidity shortfalls intensified in October 2014 when a 12-minute crash and rebound in yields happened with no apparent trigger. Panic selling during the pandemic-fueled chaos a year ago, exacerbated when hedge funds’ leveraged wagers blew up, brought the issue to the fore again.And then came last week, when the gap between bid and offer prices for 30-year bonds hit the widest since the panic of March 2020.The latest events “are a stark reminder what happens when liquidity suddenly vanishes in the deepest, largest bond market,” said Ben Emons, managing director of global macro strategy at Medley Global Advisors.At issue is whether this vast market is more vulnerable to sudden bouts of turbulence thanks to measures that have made it more difficult for banks to hold Treasuries. Some analysts say the tumult last week was magnified by questions over whether the Federal Reserve will extend an easing of bank capital requirements, which is set to end March 31. Put in place early on in the pandemic, the measure is seen as making it easier for banks to add Treasuries to their balance sheets.The 2014 episode triggered a deep dive into the market structure, and regulators have pushed through some changes -- such as increased transparency -- and speculation has grown that more steps to bolster the market’s structure may be ahead.“While the scale and speed of flows associated with the COVID shock are likely pretty far out in the tail of the probability distribution, the crisis highlighted vulnerabilities in the critically important Treasury market that warrant careful analysis,” Fed Governor Lael Brainard said Monday in prepared remarks to the Institute of International Bankers.There are plenty of potential culprits in last week’s bond-market tumble -- which has since mostly reversed -- from improving economic readings to more technical drivers. Ultra-loose Fed policy and the prospect of fresh U.S. fiscal stimulus have investors betting on quicker growth and inflation. Add to that a wave of convexity hedgers, and unwinding by big trend-following investors -- such as commodity trading advisers.Based on Bloomberg’s U.S. Government Securities Liquidity Index, a gauge of how far yields are deviating from a fair-value model, liquidity conditions worsened recently, though it was nothing like what was seen in March.For Zoltan Pozsar, a strategist at Credit Suisse, the action began in Asia with bond investors reacting to perceived hawkish signs from the central banks of Australia and New Zealand. That sentiment then carried over into the U.S. as carry trades and other levered positions in the bond market were wiped out. A disastrous auction of seven-year notes on Thursday added fuel to the unraveling.Last week’s drama “brings to mind other notable episodes in recent years in which a deterioration in the Treasury market microstructure was primarily to blame,” JPMorgan & Chase Co. strategist Henry St John wrote in a note with colleagues.One key gauge of Treasury liquidity -- market depth, or the ability to trade without substantially moving prices -- plunged in March 2020 to levels not seen since the 2008 crisis, according to data compiled by JPMorgan. That severe degree of liquidity shortfall didn’t resurface last week.The bond-market rout only briefly took a toll on share prices last week, with equities surging to start this week, following a sharp retreat in Treasury yields amid month-end buying.The Fed cut rates to nearly zero in March 2020, launched a raft of emergency lending facilities and ramped up bond buying to ensure low borrowing costs and smooth market functioning. That breakdown in functioning has sparked calls for change from regulators and market participants alike.GLOBAL INSIGHT: Recovery? Yes. Tantrum? No. Yield Driver ModelFor now, Treasuries have settled down. Pozsar notes that the jump in yields has provided an opportunity for some value investors to swoop in and pick up extra yield, effectively helping offset the impact of the leveraged investors who scrambled for the exits last week.“Some levered players were shaken out of their positions,” Pozsar said in a forthcoming episode of Bloomberg’s Odd Lots podcast. “It’s not comfortable -- especially if you’re on the wrong side of the trade -- but I don’t think that we should be going down a path where we should redesign the Treasury market.”Why Liquidity Is a Simple Idea But Hard to Nail Down: QuickTake(Updates with details on Bloomberg’s liquidity index in 10th paragraph, and a chart)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
14h ago
MoneyWise
Warren Buffett says this is how you stay financially healthy in the pandemic
Buffett has shared these bits of wisdom to protect your money from COVID.
20h ago
Bloomberg
Bitcoin Jumps Above $50,000 in Recovery from Last Week’s Rout
(Bloomberg) -- Bitcoin rallied back above $50,000, surpassing the key psychological level as bullish momentum returned after last week’s selloff.The digital token climbed as much as 11% before paring some gains to trade around $50,900 as of 9:51 a.m. in New York, reaching the highest level in two weeks, according to data compiled by Bloomberg.The cryptocurrency has been volatile with prices plunging 21% last week before recovering with the earlier broad bounce back in global equities. On a technical basis, the GTI Global Strength Indicator, which detects trend fluctuations, has begun to curl upward, suggesting a bullish move for Bitcoin.“With the return of the stimulus fueling activities in the U.S. and elsewhere -- this is very good for scarce assets such as Bitcoin,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, a crypto lender.Meanwhile, more big-name investors are backing crypto. Billionaire hedge-fund manager Bloomberg reported late Tuesday that Marc Lasry and former U.S. Commodity Futures Trading Commission Chairman Christopher Giancarlo have invested in crypto-asset and blockchain investment firm BlockTower Capital.“Bitcoin is now, for the most part, steadily getting constant endorsements,” said Ed Moya, senior market analyst for OANDA. “You’re still in the early stages of this institutional interest and that’s why I think you’re probably going to have people become a lot more open minded to cryptos.”The investments underscore a growing trend of institutional money flowing into the digital space, which is simultaneously gaining attention from regulators as the nascent industry seeks to carve out a place in mainstream finance. The outlook for the cryptocurrency industry is still under fierce debate. Proponents point to growing institutional adoption while critics say Bitcoin is a giant bubble destined to burst like its 2017 boom and bust cycle.RegulatorsOn Tuesday, Gary Gensler, nominee for chairman of the U.S. Securities and Exchange Commission, said that making sure crypto markets are free of fraud and manipulation is a challenge for the agency.Gensler, who served as a CFTC chairman during the Obama administration, has been viewed as a strong advocate for digital assets. He serves as a senior advisor to the MIT Media Lab Digital Currency Initiative and teaches about blockchain technology and digital currencies.“While the Bitcoin market reacted quickly to his comments, Gensler was largely positive about Bitcoin and cryptocurrencies,” said John Wu, president of blockchain technology firm Ava Labs. “I’m hopeful the new administration will help foster innovation in blockchains, cryptocurrencies and digital assets, instead of stifling it.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
5h ago
Bloomberg
Rare Earth, Uranium Miners Benefit From EV Mania and Dash of ESG
(Bloomberg) -- Rare earth miners and uranium producers are reaping rewards from the flood of money pouring into electrification and environmental, social and governance investing themes.Lithium producers have been more traditional beneficiaries of EV and the green energy push. But more recently, rare earth producers have also started to garner investors attention amid enthusiasm about electric vehicles.Shares of MP Materials Corp., the largest U.S. based miner of rare earths, is up more than fourfold since Biden won the election four months ago, compared with an 86% gain in VanEck Vectors Rare Earth/Strategic Metals ETF.Shares in the company, which went public via a SPAC deal in July, rose for a third day and were up 0.7% to $49.8 on Wednesday. Morgan Stanley initiated research on the stock on Tuesday, with a price target of $57.MP is “a play on accelerating adoption of electric vehicles and electrification trends in wind turbines,” Morgan Stanley analyst Carlos De Alba said in a report on Tuesday. “If you like EV, you’ll love MP.” The stock has three buys, zero holds or sells and twelve month average analyst price target is $36.Meanwhile, with supply tightening and ESG demand from investors ramping up, uranium stocks such as Denison Mines Corp. have surged more than 70% this year, compared to 23% gain in Global X Uranium ETF. The stock rose 2% on Wednesday.“Uranium sector supply/demand balance is the tightest we’ve seen since pre-Fukushima,” said GJL Research analyst Gordon Johnson, referencing to 2011 nuclear catastrophe in Japan.“When you add to this, uranium stocks are now gaining attention from ESG investors due to their low GHG footprint and quintessential role as a clean energy alternative, we see the set-up for incremental/new Uranium investments as opportune,” Johnson added, referring to greenhouse gas emissions.The uranium sector could gain even more as some are speculating that large funds are probably slowly increasing their position in the sector, according to Johnson. “If true, this could go on for a long time as they build significant positions ahead of the inevitable price rise in the commodity,” he said.The so-called rare earth metals are used in everything from lithium-ion batteries to electric vehicles, wind turbines and missile guidance systems. There are only handful of producers globally, with China controlling a majority of the sector’s production and capacity.Uranium miner Energy Fuels Inc. announced on Tuesday it partnered with Neo Performance Materials Inc. to produce rare earth together. This pact prompted Stifel Canada to upgrade Neo Performance on Tuesday, citing rare earth as “multi-year growth opportunity.”Both Energy Fuels and Neo Performance were up on Wednesday after a rally n Tuesday, bringing this year’s advance to 50% and 35% respectively.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
5h ago
Yahoo Finance
Stock market news live updates: Stocks trade mixed as bond yields resurge
Stocks traded slightly higher on Wednesday after sliding a day earlier, as investors weighed optimism over widespread post-pandemic business reopenings against concerns over economic overheating.
27m ago
Reuters
Britain to loosen listing rules as Brexit puts London on back foot
Britain will modernise its listing rules to attract more high-growth company and so-called blank cheque flotations, Finance Minister Rishi Sunak said after a government-backed review said London was on the back foot after Brexit. The London Stock Exchange is facing tougher competition from NYSE and Nasdaq in New York, and from Euronext in Amsterdam since Britain fully left the European Union on Dec. 31.
11h ago
Reuters
China extends lead over U.S. in global patents filings, U.N. says
China was the biggest source of applications for international patents in the world in 2020 for the second consecutive year and extended its lead over No. 2 filer the United States, the U.N. patent agency said on Tuesday. The World Intellectual Property Organization (WIPO), which oversees a system for countries to share recognition of patents, said China filed 68,720 applications last year while the United States filed 59,230. The rate of increase was higher for China with a 16.1% year-on-year increase versus 3% for the United States, it added.
1d ago
MoneyWise
Here are 9 get-rich tips from Warren Buffett's annual shareholder letters
Among investors, Buffett’s annual advice is eagerly awaited and closely followed.
1d ago
MoneyWise
Suze Orman's 5 rules to avoid going broke in retirement
The personal-finance superstar doesn’t want you running out of coin in your golden years.
1d ago
Bloomberg
China ‘Worried’ About Bubbles in Property, Foreign Markets
(Bloomberg) -- China’s top banking regulator said he’s “very worried” about risks emerging from bubbles in global financial markets and the nation’s property sector, sparking fresh concerns about further tightening in the world’s second-biggest economy. Stocks dropped across Asia.Bubbles in U.S. and European markets could burst because their rallies are heading in the opposite direction of their underlying economies and will have to face corrections “sooner or later,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Party secretary of the central bank said at a briefing in Beijing on Tuesday.READ MORE: Asian stocks slip as investors weigh impact of bond yields and China’s asset-bubble warningChina’s financial regulators are walking a fine line of trying to curb risks at home while limiting disruptions from abroad as the economy opens wider to foreign capital. The CBIRC vowed in January to stay “ahead of systemic risks,” after capping bank lending to the property market, slashing shadow banking activities and claiming victory in unwinding a wild expansion in peer-to-peer lending.“China’s monetary policy has not been as easy as the U.S. and Europe,” said Steven Leung, executive director at Uob Kay Hian (Hong Kong) Ltd. “This latest comment will create worry of further tightening.”Asia stocks tumbled and U.S. futures declined on Guo’s comments. The MSCI Asia Pacific Index erased earlier gains of as much as 0.8%. The CSI 300 Index in China fell as much as 1.4% and Hong Kong’s main gauge dropped almost 1%. Chinese government bonds gained from a shift toward haven assets, sending yields on benchmark 10-year notes to a nearly three-week low.“Beijing calling the overseas market rally a bubble won’t help sentiment in Hong Kong stocks, which had been seeing strong inflows from the mainland,” said Castor Pang, head of research at Core Pacific-Yamaichi.Regulators are watching capital inflows into China, where the economy is still growing and interest rates are higher, although the size and speed of such inflows remain controllable at the moment, Guo said.China’s top financial regulator also weighed in on the fintech sector, saying platforms that offer banking services must comply with the same capital requirements as traditional lenders to curb risks. The regulator has set different deadlines for each type of service, with the longest grace period of no more than two years, Guo said, without elaborating.Guo also said bubbles in China’s property market remain relatively big, with many people buying homes for investment or speculative purposes, which is “very dangerous.”A strong economic recovery, combined with a credit surge and a renewed fear of missing out have stoked buyer enthusiasm across China’s largest cities despite stricter curbs this year. Authorities have responded with a slew of policies to fine tune the industry, including a new mechanism on bank lending for real estate and fresh land-bidding rules designed to curb high-flying land costs.Still, home prices in the secondary market, which faces less government intervention, gained the most in 18 months in January, official data showed last week. Existing-home prices of certain popular projects in Shanghai surged more than 30% last year, according to China Real Estate Information Corp.“Guo’s comment reflects that Beijing wants a very stable financial market,” said Linus Yip, a strategist at First Shanghai Securities. “Stabilization is the ultimate goal of its monetary policy.”Other comments from Guo:China lending rates are likely to rebound this yearFinancial firms in Hong Kong not bound by U.S. sanctionsChina supports more Chinese firms listing in Hong KongReaction: Here’s What Analysts Are Saying on China’s Concern Over Bubbles(Updates with chart)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
2d ago
Bloomberg
Saudi Wealth Fund May Close Its Biggest-Ever Loan Deal This Week
(Bloomberg) -- Saudi Arabia’s sovereign wealth fund is set to close a deal for its biggest loan ever as soon as this week, according to people familiar with the matter.The Public Investment Fund is raising about $15 billion from a group of international banks to finance new investments, the people said, asking not to be identified as the information is private. The final bank group participating in the facility is still being determined, and the size of the loan as well as the timing may change, they said.The PIF declined to comment.The wealth fund has more than doubled the size of the loan from an initial plan to raise up to $7 billion, Bloomberg reported last month.The $400 billion sovereign investor fund is tapping banks for its third loan so far, after borrowing $11 billion in its debut debt raising, and another $10 billion bridge facility in 2019 that it paid off last year.The fund has also received cash injections in the form of the $30 billion proceeds from the sale of shares in Saudi Aramco and a $40 billion transfer from the kingdom’s foreign reserves last year as it looked to finance an asset-buying spree during a slump in equity markets caused by the coronavirus.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
1d ago
Bloomberg
UBS Seeks to Raise Stake in China Joint Venture to 67%
(Bloomberg) -- UBS Group AG plans to deepen its control over its Chinese securities unit as two of its partners in the venture are seeking to sell their stakes.UBS, which in 2018 became the first foreign bank to win approval for majority control of a securities venture in the nation, is planning to snap up another 16% of the firm, boosting its control to 67%, said people familiar with the matter who asked not to be identified discussing an internal matter.UBS has been discussing the purchase with Guangdong Provincial Transportation Group Co. and China Guodian Capital Holdings Ltd., who will put their 14% and 1.99% respective holdings in the venture on sale as early as today, the people said.Unlike rivals such as Goldman Sachs Group Inc. and Credit Suisse Group AG, the Zurich-based bank currently has no intention of going for full ownership, which China allowed foreign banks to do last year. UBS has said it has a good relationship with its Chinese partner and prefers to keep the asset management arm of the Beijing government as a shareholder because of the connections it can provide in China, the people said.A media representative at UBS declined to comment. Guangdong Transportation and Guodian Capital couldn’t be reached for comments on phone numbers provided on their websites.Foreign banks have aggressive plans to expand in China -- in some case seeking to double their staffing -- as the country further opens its $54 trillion financial market. By gaining control of their firms, they are better able to set the strategic direction to boost investments. Foreign firms have had limited success with joint ventures over the past decade in China, which in many cases have been unprofitable.JPMorgan Chase & Co. in November raised its stake in its venture to 71%, buying out an additional 20% for about $27 million. In December, Goldman agreed with its partner to snap up the 49% that it doesn’t own in its venture.UBS is in the process of moving several managing directors from Hong Kong to mainland China to better compete for deals in the country.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
18h ago
FX Empire
Price of Gold Fundamental Daily Forecast – Complacent Shorts Could Get Stuffed if Yields Ease Considerably
If you’re bullish gold then you should be hoping for the U.S. Senate to reduce Joe Biden’s $1.9 trillion coronavirus relief bill by at least half.
1d ago
Bloomberg
Bond Lull Lures UAE Issuers at Opposite Ends of Credit Scale
(Bloomberg) -- United Arab Emirates borrowers at the opposite ends of the credit-rating spectrum are seizing on a lull in the U.S. Treasury rout to sell bonds.Abu Dhabi wealth fund Mubadala Investment Co. is planning a dual-tranche offering denominated in euros, according to a person familiar with the matter. Mubadala issues its debt through a unit, Mamoura Diversified Global Holding PJSC, which has the third-highest credit grade from all three major rating companies.Sharjah, a sheikdom with the lowest non-junk rating at Moody’s Investors Service and S&P Global Ratings, mandated HSBC Holdings Plc this week to arrange a sale of 12- and 30-year dollar bonds.“What will be interesting to see is how much demand there is for long duration emerging-market paper now,” said Abdul Kadir Hussain, the Dubai-based head of fixed-income asset management at Arqaam Capital. “With interest-rate volatility increasing and inflation becoming a bigger risk, I think investors are getting more weary of duration.”February was the worst month for developing-nation bonds in almost a year after a spike in U.S. Treasury yields sent fixed-income markets tumbling. But it hasn’t derailed placements for now. While emerging-market sovereign and corporate sales fell 6.8% in February from the year earlier, they were still up 1.4% at $170.5 billion in the first two months.Both UAE offerings should find buyers, according to Sergey Dergachev, senior portfolio manager for emerging-market debt at Union Investment in Frankfurt.“Lower-rated sovereign and corporate credits tend to outperform due to their lower sensitivity to Treasury rates,” which should support the Sharjah deal, he said. Meanwhile, Mubadala’s sale will draw investors looking to pick up “quasi-Abu Dhabi sovereign risk,” he said.(Updates with Arqaam’s comment in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
13h ago
Bloomberg
Ting Hsin Weighing $800 Million IPO of KFC’s Chinese Rival
(Bloomberg) -- Ting Hsin International Group, the Taiwanese food company behind the Master Kong brand, is weighing a Hong Kong initial public offering of its restaurant business in mainland China, people with knowledge of the matter said.The firm has invited banks to pitch for a role on the listing, said the people, who asked not to be identified as the information is private. The Taiwanese company may include restaurant chains Dicos, a prominent fried chicken brand, and Master Kong Chef’s Table, which specializes in Taiwan-style beef noodles, in the Hong Kong listing, the people said. The IPO could raise about $800 million, one of the people said.Deliberations are at an early stage and the company may decide not to pursue an IPO, the people said. A representative for Ting Hsin couldn’t immediately comment.Dicos operates about 2,600 outlets across China and has more than 70,000 employees serving 600 million customers annually, according to a press release. It announced in January that it has added plant-based egg substitute JUST Egg to its menu at over 500 locations in China.The chain ranks third in China by market share among limited service restaurants, which comprise fast food and fully-takeaway outlets, according to market research provider Euromonitor International. Dicos’ 1.2% share puts it behind only Yum China Holdings Inc.’s KFC and McDonald’s Corp. in the country.Ting Hsin is a major shareholder in Tingyi (Cayman Island) Holding Corp., a Hong Kong-listed firm that sells Master Kong-branded noodles, teas and juices, and which is PepsiCo Inc.’s official partner in China.(Updates with Dicos market share in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
19h ago
Bloomberg
OPEC+ Is Poised to Cool Oil Market With Extra Production
(Bloomberg) -- OPEC+ is poised to agree a production increase this week as it seeks to cool a rapid rally in crude prices.There’s a widespread view within the group that the market can absorb additional barrels, according to people familiar with the deliberations. While the usual differences are present -- with Saudi Arabia cautious and Russia keen to open the taps -- all sides are ready to increase production, they said, asking not to be named because the information was private.That could put the group on track to implement the majority of the 1.5 million barrel-a-day output increase that’s up for debate on Thursday.An agreement to hike OPEC+ supply would be the latest sign that the global economy is recovering from the damage wrought by the coronavirus pandemic. The cartel has endured a year of pain, dominated by the deepest output cuts in its history. But the sacrifice has paid off, reviving oil prices back to pre-crisis levels above $60 a barrel.Brent crude rose 0.3% to $62.89 a barrel as of 7:54 a.m. in London. The international benchmark has surged more than 20% this year.“Both the global economic outlook and oil market prospects show signs of continued improvement,” OPEC Secretary-General Mohammad Barkindo said at the opening of a meeting of the group’s technical experts on Tuesday. “The headwinds of uncertainty that shocked and disrupted the market last year continue to abate.”There are two distinct elements to the production increase that the Organization of Petroleum Exporting Countries and it allies will debate this week.First, will the cartel proceed with a 500,000 barrel-a-day collective output hike in April? Second, how will Saudi Arabia phase out the extra supply reduction of 1 million barrels a day it’s been making voluntarily in February and March?Robust DemandRussia has been the most consistent advocate for the 500,000 barrel-a-day increase, and other members now largely agree that it should go ahead, according to people familiar with the matter.The top oil executive from the United Arab Emirates, which has also supported output hikes at recent OPEC+ meetings, gave a bullish assessment of the market on Tuesday.“Oil demand is robust,” Sultan Al Jaber, the chief executive officer of Abu Dhabi National Oil Co., said at the IHS Markit Ltd. CERAWeek virtual conference. “Demand will rise to above pre-Covid levels by the end of this year.”Adnoc has already signaled it’s preparing to open the taps, allocating customers greater volumes of Murban, Das and Upper Zakum crudes for April compared with March.Saudi ChoiceSaudi Arabia always said that its voluntary supply reduction would only last for two months, but seasoned OPEC-watchers have suggested that Riyadh could phase it out gradually.The kingdom will start to roll back its extra cut as planned in April, but is still discussing internally whether to return all of the barrels in a single month, or over a longer period, said people familiar with the deliberations. The decision will take into account the commissioning of the new 400,000 barrel-a-day Jizan refinery, which could affect both domestic crude consumption and exports, they said.At CERAWeek, Saudi Aramco CEO Amin Nasser struck a more cautious tone than his counterpart from the UAE, predicting strong demand in the second half of 2021, and a return to pre-Covid consumption next year.Remarkable ComebackWhatever the Saudis decide, the global oil market is poised to receive its biggest supply boost since August, when OPEC+ first began the process of tapering the 9.7 million barrel-a-day cut agreed in April last year as the pandemic crushed demand.The group appears to think the market is ready for it. Even if OPEC+ boosts production by 2.4 million barrels a day between February and June -- the maximum amount allowed under the current deal -- it will still be able to clear the remnants of the 2020 supply glut by August, the secretariat’s analysts predicted on Tuesday.Achieving that would be a remarkable comeback from one of the biggest crises in the cartel’s history. It’s almost exactly a year since a disagreement between Russia and Saudi Arabia over how to respond to the early stages of the pandemic triggered a monthlong price war. The group flooded the market just as demand plunged, a disastrous decision that pushed crude prices below zero for the first time in history. Twelve months later, fuel stockpiles in industrialized countries aren’t far off target levels and crude prices are close to break-even for some members, presenting “the perfect opportunity for OPEC+ to raise production,” analysts at Australia & New Zealand Banking Group Ltd. said in a note. (Updates with oil price in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
11h ago
Bloomberg
China’s Focus on Bubble Risks Is a Warning Sign for Stock Market
(Bloomberg) -- For investors fretting about an end to the era of cheap and plentiful debt, China just provided another reason to worry.The nation’s top banking regulator jolted markets on Tuesday with a warning about the need to reduce leverage amid the rising risk of bubbles globally and in the local property sector. The impact on Chinese stocks was swift: the CSI 300 Index fell as much as 2.1% to lead declines in Asia, while Kweichow Moutai Co., the biggest contributor to gains during 2020’s stimulus cycle, tumbled almost 5%. China’s largest stock has lost more than $100 billion in nine days.Central banks around the world are facing the challenge of when and how to pare back stimulus as economies recover from the pandemic. Global bond markets plunged last week as traders pulled forward bets on interest rate increases, with the 10-year Treasury yield reaching the highest in a year.Deleveraging has particular resonance in China, where it is a key priority of President Xi Jinping due to the size of the nation’s debt mountain. A crackdown on leverage in 2017 sent corporate and government bond yields to multi-year highs before officials halted the drive a year later amid the worsening trade war with the U.S.Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Party secretary of the central bank, didn’t mince his words. “From a banking and insurance industry’s perspective, the first step is to reduce the high leverage within the financial system,” Guo said at a briefing in Beijing. Speculation in the property market is “very dangerous” and bubbles in U.S. and European financial markets may soon burst, he said.“His talk shows a willingness to tolerate higher rates,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management in Hong Kong. “This is a confirmation of monetary-policy stance tightening. That’s important.”A stronger economy and signs of excess have provoked stronger rhetoric from Beijing in recent weeks. The People’s Bank of China said in its latest monetary policy report it will balance the need to support growth and prevent risk. A front-page report in state media last week argued the economy is strong enough to withstand policy normalization. In January, the central bank engineered the biggest cash squeeze since 2015, after an adviser suggested a shift away from stimulus.Debt was about 280% of China’s gross domestic product in November, the highest ratio since Bloomberg started compiling the data in 2014.Beijing is set to unveil its major economic goals on March 5, when the National People’s Congress, China’s rubber-stamp parliament, convenes for its yearly meeting. While officials have stressed that changes in policy would be gradual, China’s monetary policy conditions “will visibly tighten this year,” Li-Gang Liu, managing director and chief China economist at Citigroup Inc. wrote in a report this week.The prospect that China will tighten funding conditions is derailing gains in the country’s most popular stocks. Liquor makers like Moutai are hardest hit because they are widely owned and command some of the highest valuations. The CSI 300 Index -- which in February briefly topped its record close from 2007 -- has lost 7.9% since mainland markets reopened for the new Lunar Year.Authorities are juggling curbing leverage while maintaining economic growth before the Communist Party’s 100-year anniversary this year. The central bank has successfully calmed interbank funding markets since January, when short-term rates spiked to the highest since 2015.“Deleveraging and financial risk mitigation will both stay in policy focus in 2021,” said Tianhe Ji, a strategist at BNP Paribas SA in Beijing.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
1d ago
Reuters
Rocket shares soar more than 70% as analysts eye 'GameStop-esque' short squeeze
Heavily shorted mortgage provider Rocket Companies saw its stock surge on Tuesday, in an eye-popping move reminiscent of the rallies that powered GameStop and other so-called meme stocks earlier in the year. Shares of Rocket, the parent company of Quicken Loans, closed up 71.2% at $41.60 after being halted several times for volatility. The outsized move puts Rocket among the stocks that have experienced wild gyrations after becoming a focus of investors on sites such as Reddit’s WallStreetBets, where mentions of the company have multiplied in recent days.
1d ago

Component	2019	2018	Proportion (2019)
Salary	US$850k	US$800k	6%
Other	US$13m	US$13m	94%
Total Compensation	US$14m	US$14m	100%

S&P 500

Dow 30

Nasdaq

Russell 2000

Crude Oil

Gold

Silver

EUR/USD

10-Yr Bond

GBP/USD

USD/JPY

BTC-USD

CMC Crypto 200

FTSE 100

Nikkei 225

Comparing Monster Beverage Corporation's CEO Compensation With the industry

Monster Beverage Corporation's Growth

Has Monster Beverage Corporation Been A Good Investment?

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