CNBC

Post EU’s Latest Russian Oil Ban, OPEC+ Is Expected To Raise Production Marginally

• On Thursday, oil producer group OPEC+ is expected to approve another small production rise for June, despite persisting concerns about weakening Chinese demand, shortly after, the world’s largest trading bloc unveiled proposals for further sanctions against Russian petroleum.
• It is widely expected that OPEC+ ministers will agree to lift production targets for next month by 432,000 barrels per day, adhering to the existing strategy of gradually unraveling record supply cutbacks.

Reuters

Warren Buffett’s Berkshire Hathaway Boosts Stake In Occidental Petroleum

• Warren Buffett’s Berkshire Hathaway Inc (NYSE: BRK-B) has bought another 5.9 million shares of Occidental Petroleum Corporation (NYSE:OXY), boosting its stake in the oil company to ~15.2%.
• Occidental’s share price has doubled this year, benefiting from Berkshire’s purchases and rising oil prices, with a further boost from the Ukraine crisis.
• Now, Berkshire owns ~142.3 million Occidental shares worth $8.8 billion, plus $10 billion of preferred stock.

US Study Shows Omicron As Severe As Previous COVID Variants

• A large U.S. study has found that the omicron variant of the SARS-CoV2 virus is intrinsically as severe as previous variants, unlike assumptions made in earlier studies that it was more transmissible but less severe.
• “We found that the risks of hospitalization and mortality were nearly identical between periods,” said four scientists who conducted the study based on records of 130,000 COVID-19 patients, referring to times in the past two years when different variants were dominant.
• The studies that assumed that the omicron variant was less severe were conducted in various places, including South Africa, Scotland, England, and Canada.

Roe v. Wade Leak Effect Kicks In, Abortion Prescription Pills Interest Sees Huge Spike

• A provider of prescription pills used to terminate a pregnancy at home has seen increased interest from U.S. women this week, following news that the Supreme Court would likely reverse a landmark 1973 decision ensuring abortion rights nationwide, nonprofit Aid Access said.
• The court confirmed that a draft opinion signaling a reversal of the Roe v. Wade ruling, published by the news site Politico, was authentic.
• The court also noted that it did not represent the justices’ final decision, due by the end of June.

Qantas Airways Acquires Remaining 80% Stake In Alliance Aviation For $443M

Wall Street Journal

Bill Gates Takes Swipe At Elon Musk Over Twitter Acquisition: ‘He Actually Could Make It Worse’

Elon Musk Bags Over $7B In Twitter Deal Financing

Bloomberg

IMF Expresses Concern About Central African Republic’s Adoption Of Bitcoin

• According to the International Monetary Fund, the Central African Republic’s adoption of Bitcoin as legal tender poses several issues for the country and the region.
• The decision to adopt the cryptocurrency drew criticism from opposition parties and was made without consulting the regional central bank, which manages a common currency used by six countries, including the Central African Republic.

Benzinga

Twitter Faces Advertiser Skepticism At New York Event Ahead Of Elon Musk Takeover

Shell’s Q1 Profit Up 43% As High Oil Prices Offset Russia Exit

Intercontinental Exchange To Scoop Black Knight At 34% Premium

Netflix Faces Class Action On Allegations It Withheld Crucial Information

Elon Musk’s Starlink Now Lets You Take Your Internet Connection Anywhere Within US — But It Comes At A Cost

$700M Bitcoin Leaves Coinbase

JD, Nio, Pinduoduo Among 80 Chinese Companies Identified By SEC For Potential Delisting: What Investors Should Know

Gucci To Accept Bitcoin, Dogecoin, Shiba Inu In Several Stores

• Luxury retail brand Gucci has reportedly embraced payments in the form of cryptocurrencies in some stores operated in North America.
• What Happened: Gucci plans to accept 10 cryptocurrencies, including Bitcoin BTC/USD and Ethereum ETH/USD ,as well as meme-based Dogecoin DOGE/USD and Shiba Inu SHIB/USD , as a means of in-store payment from the end of this month, according to Vogue Business.

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