US and Chinese militaries are on speaking terms...
US and Chinese militaries are on speaking terms again. For the first time in over a year yesterday, the highest-ranking US military officer, the chairman of the Joint Chiefs of Staff, spoke with his Chinese counterpart. The top brass hopped on a video call to discuss “global and regional security issues” and the need for lower-level talks. In 2022, China’s military stopped talking to the US in response to what it saw as a provocative trip to Taiwan taken by then-House Speaker Nancy Pelosi. But President Biden and China’s leader, Xi Jinping, recently met in San Francisco and agreed that the two superpower militaries should resume talking regularly to diffuse tensions.
A deadly mass shooting shook the Czech Republic. A student at Charles University in Prague killed at least 14 people and injured dozens more yesterday. He’s also suspected of killing his father earlier in the day and two other people last week. Students were told to barricade themselves in classrooms, and some had to crouch on a ledge to escape the shooter. Police sealed the area and said the perpetrator had been “eliminated.” The interior minister called the devastating violence unprecedented in the country, which has a low gun crime rate. Authorities said that the gunman might have been inspired by a shooting in Russia earlier this year.
There might be a problem with your Honda.The Japanese carmaker said yesterday that it’s recalling 22 Honda and Acura models released between 2017 and 2020 over a faulty fuel pump impeller. The component helps deliver gas to the engine, and a defective one might cause a car to stall or fail to start, though Honda says it has not received any reports of crashes or injuries related to the issue. Still, the problem means 2.5 million vehicles in the US will be recalled. Affected vehicle owners can get their fuel pump replaced free of charge once the automaker starts sending notices in February.
Rudy Giuliani filed for bankruptcy after a jury ordered him to pay $148 million for defaming two former Georgia election workers.
Ikea warned that Houthi attacks on commercial ships in the Red Sea could delay its deliveries.
Bird flu is likely to spread in Antarctica, posing existential threats to some species, including emperor penguins, according to experts.
Vin Diesel was sued yesterday by a former assistant, who accused the Fast & Furious actor of sexual battery.
Panama Canal crisis takes a toll on US gasoline exports
Reduced shipping capacity through the Panama Canal due to severe drought has prompted some US Gulf Coast...
Reduced shipping capacity through the Panama Canal due to severe drought has prompted some US Gulf Coast refiners to slash gasoline export prices to $75 per barrel, the lowest since February 2021, while less profitable refiners may be forced to cut production, according to traders and analysts. With Gulf Coast gasoline exports through the Panama Canal down around 40% year over year in November, some foreign buyers are turning to alternative sources to meet demand needs.
At least 14 people were killed and dozens more injured, several of them critically, in a ...
At least 14 people were killed and dozens more injured, several of them critically, in a shooting at Charles University's faculty of arts building in Prague’s city center yesterday, marking the Czech Republic's deadliest mass shooting.
The university, founded in 1348, is one of the world’s oldest and sits near major tourist sites, including the 14th-century Charles Bridge.
Parts of Southern California received major rainfall yesterday as a reportedly once-every-thousand-year...
Parts of Southern California received major rainfall yesterday as a reportedly once-every-thousand-year storm system hovered over the region and headed toward Arizona, prompting flood watches for millions. Rescuers have aided dozens of stranded residents in several counties around Los Angeles and Santa Barbara while the town of Oxnard recorded over 3 inches of rain in one hour. No deaths have been reported as of this writing.
The energy sector is starting higher, supported by strength in the crude complex. Meanwhile, the major equity futures are mixed after US stocks bounced on Thursday following a largely unexplained late-day selloff in the prior session. Headline and core PCE came in a bit cooler than expected for November, fitting the broader disinflation theme.
WTI and Brent crude oil futures are higher in early trading on a weaker dollar and as more maritime carriers are avoiding the Red Sea due to recent attacks on vessels carried out by the Houthi militant group. Oil contracts are set for a second-consecutive higher week as hundreds of large vessels are rerouting around the southern tip of Africa, a longer route adding 10-14 days of travel, to escape drone and missile attacks by Yemeni Houthis that have pushed up oil prices and freight rates. Elsewhere, OPEC has yet to comment on Angola’s decision to leave the group. Oil-related news is quiet so far today in what should be a low-volume session of trading.
Natural gas futures are flat as preliminary estimates have storage for the week-ending today with a draw of (75) to (85) Bcf vs the 5-year average of (123) Bcf.
