1123 days ago
Brent crude oil falls back from Jan 2020 peak and $70 per barrel
Trend is higher but BCO faces dual resistance near $70 per barrel
1123 days ago
Food waste throughout the world
Food waste is a massive issue, we are talking billions of tons here. The world produces 931 million tons of food waste yearly, 569 million of which are from households. 244 million are attributed to the food service, and 118 million from retail. In fact, if food loss and waste were a country, it would be the third biggest source of greenhouse gas emission on the planet. China is the world's champion in terms of wasting food, closely followed by India. The United States come in third placce with over 68 million tons. But thats when looking at the total food waste. If we have a look at the kg wasted per capita, it is Australia that is in first place, with 102 kg per person, vs. 59 for the US, 64 for China and only 33 for Russia.
1123 days ago
Saudi stocks become more expensive vs. EM peers
Saudi stocks are becoming less cheap after stocks recently surged 7.6% this year. After the decision to keep oil production unchanged a month ago, the price of stock has risen, seen earlier around the $70 to $71 mark. This has benefited the equity market pushing the Tadawul index to 19 times estimated earnings or about 27% higher than the MSCI EM index as indicated in the chart below. Estimates at Goldman Sachs and JP Morgan have seen oil prices reaching $80 by the end of the third quarter. Source: Bloomberg
1126 days ago
Urban indoor farming sees more traction: Infarm raises $100M
Infarm is present in 10 countries and has deals with retailers like Kroger Co., Amazon Fresh, Metro AG and Marks & Spencer Group Plc. It provides modular units that grow food on supermarket aisles and inside restaurants. Diversifying crops will help accelerate the shift to plant-based diets, Galonska said. The fresh money, a mix of debt and equity, came from firms including Hanaco Ventures and Atomico. That brings total funding to more than $400 million, making Infarm one of the most-funded vertical farming startups in the world, according to researcher Dealroom. Source: Bloomberg
1126 days ago
Marathon petroleum up 18.5% since last earnings report
Midstream segment profitability was $974 million, 9.6% higher than the fourth quarter of 2019. Earnings were supported by stable, fee-based revenues, lower operating expenses, plus contribution from organic growth projects. Marathon Petroleum reported revenues of $18.2 billion. The company’s bottom line was favourably impacted by cost savings and stronger-than-expected performance from the Midstream segment. Precisely, operating income from the unit totaled $974 million. Source: Zacks.com
