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Jumat, 14 Juni 2019

China vows to develop ties with Iran after attack on tankers - Fox News

Chinese President Xi Jinping on Friday met with Iranian President Hassan Rouhani at a summit in Kyrgyzstan and reaffirmed Beijing’s willingness to develop ties with the country even as the U.S. placed the blame squarely on Tehran for the attack on two oil tankers near the Strait of Hormuz.

Xi met with Rouhani privately at the Shanghai Cooperation Organization summit in Bishkek, Reuters reported. The Chinese leader promised to develop the relationship no matter how the situation changes.

He recently told TASS news agency that Washington is putting “extreme pressure” on Iran and the “situation is worrying.”

President Trump has taken a tough stance on both China and Iran in recent months. The U.S. is locked in a duel with Beijing on trade, with both countries appearing to be dug in for a long fight. The Trump administration has threatened to impose additional tariffs on $325 billion of Chinese exports if there’s no deal reached at this month’s G20 in Japan.

Trump has said he wants to talk to Tehran but the U.S. has piled on sanctions that have seen Iran’s rial currency plummet along with its crucial oil exports. The U.S. also has sent an aircraft carrier and B-52 bombers to the region, along with hundreds more troops to back up the tens of thousands already deployed across the Middle East.

The meeting between Xi and Rouhani occurred as tensions between the U.S. and Iran appear to be worsening. The U.S. released footage late Thursday it said shows Iran’s Revolutionary Guard removing an unexploded limpet mine from an oil tanker that was attacked near the Strait of Hormuz. The U.S. claims that Iran sought to remove evidence from the scene. The footage is of the ship, Kokuka Courageous. The ship's crew reported the “flying objects” prior to the attack.

Yutaka Katada, the president of shipping company, told the Associated Press that he believes the objects observed by the sailors were bullets. He also said the damage was above the ship’s waterline, hence mines or torpedoes would likely not be the culprit. He called the U.S. mine report “false.”

Katada said the crew did spot an Iranian naval ship nearby at around the time of the attack. A U.S. official told Fox News earlier that an Iranian gunboat approached the ship after the attack and removed the mine. The official, who requested anonymity to discuss sensitive information, said the suspected Iranian vessel did not bear any flags, nor did the crew members wear any uniforms.

The Navy did not immediately respond to an email from Fox News early Friday about Katada’s claim. The attack occurred while Japan’s Prime Minister Shinzo Abe met with Iran’s Supreme Leader Ayatollah Ali Khamenei.

The other ship attacked was the Norwegian-owned MT Front Altair. Both were loaded with petroleum products. Both ships were abandoned and left adrift in the waters, Reuters reported.

A source told the news agency that the blast on Front Altair could have been a magnetic mine.

Secretary of State Mike Pompeo blamed Iran for the “blatant assault” on the tankers.

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Tehran called Pompeo’s accusations alarming and said it is “in charge of maintaining the security of the Strait and we rescued the crew of those attacked tankers in the shortest possible time.”

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2019-06-14 06:48:27Z
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Kamis, 13 Juni 2019

Oil Prices Surge as Suspected Tanker Attacks Eclipse OPEC Demand Forecast - Investing.com

Investing.com - Oil prices surged on Thursday as suspected attacks on tankers in the Gulf of Oman eclipsed the fact that OPEC cut its forecast for global demand and recognized “significant downside risks”.

New York-traded jumped $2.06, or 4.0%, to $53.20 a barrel by 8:31 AM ET (12:31 GMT), while , the benchmark for oil prices outside the U.S. soared $2.42, or 4.0%, to $62.39.

The reports of near the Strait of Hormuz, a major strategic waterway through which a fifth of global oil consumption passes from Middle East producers, sent prices soaring.

Coming after attacks on four tankers near the Persian Gulf last month, the news raised concerns over potential disruptions to oil flows. It wasn't clear who was responsible for the attacks. The tankers had been loaded in Saudi Arabia and the United Arab Emirates, according to reports.

Crude had plunged nearly 4% on Wednesday after a surprisingly large increase in spurred further concerns over the state of demand in a weakening world economy.

Investing.com senior commodity analyst Barani Krishnan referred to the weekly report as “another woeful data sheet hardly reflective of the peak season for oil demand”.

Oil had its worst monthly performance of 2019 in May as traders shifted their focus from tightening supply (in the form of OPEC-led output cuts) to weakening demand, exacerbated by concerns that the ongoing trade dispute between the U.S. and China will dent the global economy.

In its released Thursday, this year from 1.21 million barrels per day (bpd) to 1.14 million bpd and noted that “significant downside risks from escalating trade disputes spilling over to global demand growth remain”.

OPEC joined the U.S. Energy Information Agency, which also lowered its global demand forecast earlier this week. The International Energy Agency will likely follow suit when it releases its own monthly report on Friday.

Ellen Wald, president of Transversal Consulting and Investing.com contributor, suggested that oil market’s obsession with a potential demand collapse may be overdone. She that revealed that growth in energy consumption was nearly double the 10-year average rate.

“The BP (LON:) report should remind market watchers that even though organizations and banks are cutting their forecasts for oil demand growth in 2019, the world still needs energy in general - and more of it,” she said.

In other energy trading, rose 2.5% at $1.7289 a gallon by 8:34 AM ET (12:34 GMT), while traded up 3.0% at $1.8338 a gallon.

Lastly, fell 0.7% at $2.369 per million British thermal unit.

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2019-06-13 12:36:00Z
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Beyond Meat's stock falls after former investor Tyson Foods announces plant-based nuggets - CNBC

Shares of Beyond Meat fell about 4% in premarket trading Thursday after Tyson Foods announced plans to launch plant-based nuggets later this summer.

Since going public in early May, Beyond's stock has soared 468%. Its market value is about $8.3 billion, roughly one third of that of Tyson, the nation's largest meat producer.

But one early investor has missed out on the success of Beyond's market debut: Tyson. The company sold its stake prior to Beyond's initial public offering because it planned to offer its own meat alternative products. The meatpacker announced Thursday that it planned to launch imitation chicken nuggets later this summer, as well as burger patties blending meat with vegetables in the fall.

Beyond does not currently offer any plant-based chicken products, but the company is working on a new and improved version of its chicken strips, which it pulled from grocery store shelves earlier this year.

Even with shares falling Thursday to around $137, Beyond's stock price remains above the price targets of analysts, the highest of which is $123. No one on Wall Street recommends buying the stock anymore because of its hot streak. The stock has been gyrating as analysts have raised concern about its monster run and short sellers have taken an interest.

Tyson's announcement comes as Beyond faces increased competition in the plant-based meat market. Nestle is planning to launch its own plant-based burger this fall in the U.S. under its Sweet Earth brand.

Credit Suisse analyst Robert Moskow wrote in a note Thursday that he does not view Tyson's hybrid burgers as a major threat to Beyond.

"Although competing hybrid burgers offer less saturated fat than the 100% plant-based products from Beyond and Impossible, they simply don't taste as good in our experience," he wrote.

Euromonitor expects that the market for meat alternatives will hit $22.9 billion globally by 2023. Tyson said that alternative protein could be a billion-dollar business for the company someday. The flexitarian diet is driving that growth, with nearly 60% of U.S. consumers expressing interest in eating less meat, according to Mintel.

While Beyond has said that the company has enough capacity to handle projected demand for the next two years, Big Food companies like Tyson and Nestle have even more muscle when it comes to production and research and development.

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https://www.cnbc.com/2019/06/13/beyond-meats-stock-falls-after-tyson-foods-unveils-plant-based-nuggets.html

2019-06-13 13:35:58Z
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Tyson Launches Its First Plant-Based Protein Brand to Compete With Beyond Meat - Gizmodo

Image: Tyson Foods

Tyson Foods is launching the company’s first plant-based protein brand, called Raised & Rooted, that will feature vegetarian nuggets that taste like chicken and blended burgers that still contain beef but are arguably more healthy.

Tyson’s new brand will compete with Beyond Meat, one of the first companies along with Impossible Foods to make a completely plant-based burger that tastes exactly like a beef hamburger.

The news about Tyson, first reported by The New Food Economy, comes in the wake of Beyond Meat going public in May with a $1 billion valuation. Beyond Meat’s stock has surged 500 percent since its IPO.

“Today’s consumers are seeking more protein options so we’re creating new products for the growing number of people open to flexible diets that include both meat and plant-based protein,” Noel White, president and CEO of Tyson Foods, said in a press release.

Tyson’s new Raised & Rooted nuggets will first hit supermarket shelves later this summer and its burgers are expected to be available this autumn.

Tyson, the largest meat producer in the U.S., explains that both the nuggets and burgers are primarily made from pea protein:

The Raised & Rooted nuggets are made from a blend of pea protein isolate and other plant ingredients and contain five grams of fiber and omega-3s, and less saturated fat than traditional nuggets. The blended burger is made with Angus beef and pea protein isolate and has fewer calories and less saturated fat than the plant-based burgers sold by several competing companies.

While the first product categories for Raised & Rooted are limited to “chicken” nuggets and burgers, the company hinted that it will be exploring other categories soon.

“While most Americans still choose meat as their primary source of protein, interest in plant and blended proteins is growing significantly,” Noelle O’Mara, Tyson Foods’ chief marketing officer, said in a statement.

“These products appeal to a broad cross section of consumers who enjoy food from a variety of protein sources and we expect interest to continue to grow across protein types. The Raised and Rooted launch and our pipeline of innovation will reflect our consumers expectations for 100% plant based, blended, and traditional protein offerings.”

Photo: Tyson

Tyson was an investor in Beyond Meat until the company recently sold its 6.5 percent stake back in April. That stake was reportedly worth about $79 million.

Tyson’s sausage and meatball brand Aidells is also launching a new Aidells Whole Blends brand which will feature chicken as well as plant-based products, hoping to appeal to health-conscious consumers looking to cut red meat from their diets.

Tyson is betting that American consumers want to introduce more plant-based options to their plate, even if they’re not vegan or vegetarian on a full time basis.

“For us, this is about ‘and’ – not ‘or,’” CEO White said. “We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein, which is experiencing double-digit growth and could someday be a billion-dollar business for our company.”

Update: This article has been updated to make clear at the beginning of the article that the Raised & Rooted burger still contains beef.

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2019-06-13 11:45:00Z
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Tyson Foods launches full-scale attack on Beyond Meat - Yahoo Finance

Credit: Tyson Foods

Tyson Foods (TSN) is finally getting into the mutant-meat game being dominated by one-time friend Beyond Meat (BYND) and its heated rival Impossible Foods.

The U.S.’s largest meat producer said Thursday it will debut several new plant-based products under the Raised & Rooted brand. Nuggets will debut at several undisclosed major retailers later this summer while blended burgers will hit shelves in the fall.

Note the word blended as Tyson hasn’t gone full-scale mutant meat cooked up in a lab here like its upstart competitors. The nuggets are simply made from pea protein isolate and other plant ingredients, Tyson says. In other words, typical veggie nuggets. The blended burgers are made with a mix of Angus beef and pea protein.

Tyson is touting that the blended burgers have fewer calories and less saturated fat than its competitors.

Underscoring the importance of a product launch into the red-hot plant-based food market, Tyson Foods nabbed a comment from its new CEO Noel White. Normally in the consumer products space, product launches aren’t that big a deal — and even when they, a lower level executive comments.

“Today’s consumers are seeking more protein options so we’re creating new products for the growing number of people open to flexible diets that include both meat- and plant-based protein,” said Noel White, president and CEO of Tyson Foods in a statement. “For us, this is about ‘and’ – not ‘or.’ We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein, which is experiencing double-digit growth and could someday be a billion-dollar business for our company.”

For Tyson, the announcement has to be somewhat bittersweet.

The company dumped its 6.5% stake in Beyond Meat ahead of the plant-based meat company’s IPO in early May. Since then, Beyond Meat’s stock has exploded 115% amid a solid first quarter earnings report and insane levels of enthusiasm for the story on Wall Street.

Brian Sozzi is an editor-at-large and co-host of The First Trade at Yahoo Finance. Follow Brian Sozzi him on Twitter @BrianSozzi

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2019-06-13 11:33:00Z
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OPEC's oil output falls to 5-year low in May as group warns of weaker demand - CNBC

Workers drill at the Saudi Aramco oil field complex facilities in Shaybah, Saudi Arabia.

Reza | Getty Images

Oil output from OPEC fell in May, hitting a five-year low as the group warned that U.S.-China trade tensions could lead to slower economic growth and weak fuel demand.

Production from the 14-nation producer club fell by 236,000 barrels per day last month to 29.88 million bpd, according to independent sources cited by OPEC in its monthly report. It was the first time OPEC pumped below 30 million bpd since June 2014.

The slump in production comes as OPEC is considering whether to extend a six-month deal to hold down output. In the monthly report, OPEC says it will carefully consider the economic outlook when it meets with Russia and other oil-exporting nations in coming weeks.

"Throughout the first half of this year, ongoing global trade tensions have escalated, threatening to spill over, and geo-political risks remained in many key regions," OPEC said. "This has resulted in a slowdown in global economic activities, and weaker growth in global oil demand, both compared to a year earlier."

OPEC expects the global economy to remain under pressure in the second half of 2019, largely due to trade disputes, casting uncertainty over oil demand.

The group now expects global oil demand to grow by 1.14 million bpd in 2019, slightly lower than its last forecast. OPEC expects producers outside the group to hike output by 2.14 million bpd this year, meaning supply growth will swamp the rise in demand.

Concerns about softening demand have pushed oil prices to five-month lows, but crude futures rose about 3% on Thursday on reports of tanker attacks in the Gulf of Oman.

OPEC's output cuts and supply disruptions continue to lend support to the market. Together with Russia and other producers, OPEC is trying to keep 1.2 million bpd off the market.

In May, top OPEC producer Saudi Arabia's output fell by 76,000 bpd to 9.69 million bpd. The kingdom continues to voluntarily pump well below its quota of 10.31 million bpd.

Oil supplies also continued to fall in Iran and Venezuela, both of which have been targeted by U.S. energy sanctions. In Iran, production fell by 227,00 bpd to 2.37 million bpd, while Venezuela's output fell 35,000 bpd to 741,000 bpd.

Nigeria, Africa's largest producer, also saw output fall by 92,000 bpd to 1.73 million bpd.

The losses were slightly offset by production increases in Iraq and Angola.

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2019-06-13 10:42:18Z
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Tyson Foods unveils plant-based nuggets as it moves into meat alternatives - CNBC

Tyson Foods' Raised & Rooted plant-based nuggets

Tyson Foods

The nation's biggest meat producer is plotting its entry into plant-based meat substitutes.

Tyson Foods said Thursday it will debut plant-based nuggets this summer as part of a new brand, Raised & Rooted, that will sell plant-based and blended meat products.

Tyson executives have been teasing the company's move into meat alternatives since February, but this is the first time the meatpacker is revealing its plans to compete with the likes of Impossible Foods and Beyond Meat.

Shares of Beyond Meat fell 4% in premarket trading Thursday after the announcement, while Tyson's stock rose 3%. The maker of plant-based meats has a market value of $8.5 billion, roughly a third of Tyson's market value.

"We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein, which is experiencing double-digit growth and could someday be a billion-dollar business for our company," Tyson CEO Noel White said in a statement.

The flexitarian diet is driving the growth of the market for meat alternatives, which Euromonitor expects will hit $22.9 billion globally by 2023. Nearly 60% of U.S. consumers are interested in eating less meat, according to Mintel.

Beyond Meat, a former Tyson investment, previously sold plant-based chicken strips, but the company pulled the product from grocery store freezers earlier this year.

Tyson's imitation nuggets use pea protein in place of chicken. The company also plans to release a blended burger made with Angus beef and pea protein under the new brand.

The Springdale, Arkansas-based company said it plans to introduce more alternative protein products across its portfolio of brands and to food-service operators. The company's Aidells brand already sells sausage and meatballs that blend chicken with plant-based ingredients.

Perdue Foods, another large meat producer, said Wednesday it will distribute new chicken nuggets, tenders and patties that blend meat with vegetables.

In addition to the new brand, Tyson has been investing in start-ups focused on alternative proteins. The company's venture capital fund has invested in mushroom-based protein producer MycoTechnology and cultured meat producers Memphis Meats and Future Meat Technologies.

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2019-06-13 11:00:36Z
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