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<ul class="summary-list"><li>Both presidential campaigns have discussed ideas for cutting housing costs.</li><li>JD Vance says a Trump administration would build more homes in part by lowering energy costs.</li></ul>As rising home prices and rents squeeze households across the country, the presidential candidates are weighing in on the <a target="_blank" class="" href="https://zillow.mediaroom.com/2024-06-18-The-U-S-is-now-short-4-5-million-homes-as-the-housing-deficit-grows">housing shortage</a>.Former President Donald Trump doesn't list housing among the <a target="_blank" class="" href="https://www.donaldjtrump.com/platform">top 20 priorities</a> on his campaign website, but he and his running mate have argued that some of their top agenda items — including deporting millions of immigrants — would bring down housing costs.In that spirit, Sen. JD Vance recently promised that a future Trump administration would build millions of homes in part by making energy cheaper. "We're going to drill, baby, drill, lower energy costs, and that's going to make it easier to build homes," <a target="_blank" class="" href="https://www.youtube.com/watch?v=9pPCCh_t4h8">he said</a> during an October campaign stop in Nevada.Housing policy experts and economists disagree, saying lower energy costs would not significantly boost construction or make homes cheaper.The cost of new housing is largely determined by the availability of workers, the prices of building materials, and government regulations that limit construction. Other policies Trump has promised to enact — including hiking tariffs on a slew of foreign imports and deporting millions of immigrants — are expected to inflate housing costs by increasing the cost of key materials and worsening the labor shortage.A spokesperson for Vance didn't immediately respond to a request for comment.<h2 id="1a82d7c2-a275-42fb-a86a-4ae9f17818b1">Building materials and tariffs outweigh cheaper oil</h2>Economists say that lower electricity costs and diesel fuel prices would make certain goods and services needed to build housing somewhat cheaper. But they wouldn't dent the most significant input costs related to building, which are labor and building materials."I'm not saying it's immaterial," Anirban Basu, chief economist at the construction industry trade group Associated Builders and Contractors, told Business Insider. "Energy prices are significant, but they're not as significant as many other inputs."The prices of key building materials, including lumber and structural steel, are much more consequential. "When softwood lumber prices took off during the pandemic, it really impacted apartment construction and single-family home building," Basu said.Notably, under the Biden administration, the US has produced and exported <a target="_blank" class="" href="https://www.eia.gov/todayinenergy/detail.php?id=61545">more crude oil than ever before</a> in the country's history, even as housing costs have soared.Tariffs imposed by both the Trump and Biden administrations on goods like Canadian lumber aren't helping, Andrew Justus, a housing policy analyst at the Niskanen Center, a nonpartisan think tank, told Business Insider. And Trump has promised to <a target="_blank" class="" href="https://www.businessinsider.com/category/trump-tariffs">dramatically hike tariffs</a> if he's elected."When you think about what is specifically within the government's purview, as far as bringing down costs for building homes, one of the easiest things they could do is reduce the extra tax that they levy on the most basic of building materials," Justus said.<h2 id="49b4842e-9770-4c1e-a378-22cc2018c301">Labor costs and cutting red tape are also key</h2>Labor costs are generally growing as a portion of overall construction costs, Basu said. This is largely a result of a <a target="_blank" class="" href="https://www.businessinsider.com/housing-crisis-national-shortage-construction-workers-job-demand-2024-5">national construction worker shortage</a>, particularly among skilled workers, and lagging productivity in the industry. While labor productivity has improved in most sectors of the economy over the last half-century, US construction productivity <a target="_blank" class="" href="https://www.economist.com/business/2017/08/19/efficiency-eludes-the-construction-industry">has declined</a>."If you look at a typical construction job site, it does not look that different from what it might've looked like five or six decades ago," Basu said.Vance has <a target="_blank" class="" href="https://www.businessinsider.com/jd-vance-said-migrants-to-blame-for-expensive-homes-wrong-2024-8">also said</a> that Trump's plan to deport millions of immigrants would lower demand for housing and, thereby, slow rising home prices and rents. But economists say immigration isn't a major reason for higher housing costs, and because such a large portion of construction workers are immigrants, <a target="_blank" class="" href="https://www.nytimes.com/2024/10/11/business/economy/trump-housing-crisis-deportations.html">mass deportations would slow home construction and push prices up.</a>"We just don't have the supply of construction labor that we need, and any sort of dramatic reduction in our labor would just make that even worse," Nolan Gray, a city planner and research director for California YIMBY, told Business Insider.But the biggest obstacle to improving housing affordability is local and state regulation. Land-use laws that block denser forms of housing like duplexes or apartment buildings in favor of detached single-family homes make it harder to build cheaper housing."A lot of these suboptimal outcomes come from very poor zoning decisions which tend to favor downzoning of properties, as opposed to embracing density," Basu said.The Trump campaign has said it will cut regulations that stymie building, with Vance saying they'll "stop the ridiculous regulations that make it harder for our construction companies and our workers to build homes" at the Nevada campaign stop.But the campaign hasn't released detailed plans — and when Trump was president, he <a target="_blank" class="" href="https://www.nytimes.com/2020/07/29/us/politics/trump-suburbs-housing-white-voters.html">pushed to protect single-family zoning</a>, which keeps housing more expensive. And while Vice President Kamala Harris has <a target="_blank" class="" href="https://www.businessinsider.com/how-kamala-harris-plans-to-build-3-million-new-homes-2024-8">put forward plans</a> to incentivize deregulation as part of her more explicit housing agenda, most land-use and building regulations are controlled by state and local governments.

JD Vance says pumping more oil will make housing cheaper. Economists say that's a stretch.

<ul class="summary-list"><li>Indonesia said it drove a Chinese coast guard ship out of its waters in the South China Sea.</li><li>It said the Chinese ship disrupted an Indonesian oil and gas company surveying the waters.</li></ul>Indonesia said it deployed two vessels and an aircraft to expel a Chinese ship from contested waters in the South China Sea.The Indonesian National Armed Forces said its Maritime Security Agency's command and control center detected China's coast guard ship at the southern edge of the South China Sea, on Monday.It said the Chinese ship disrupted survey work — often used to help locate oil and gas reserves beneath the seabed — by Indonesia's state-owned oil and natural gas company PT Pertamina.The interaction is another turn in a yearslong dispute over who owns the South China Sea, and gets to exploit its resources.China has staked out an aggressive claim to almost the whole sea, which its neighbors and most Western countries reject.The rival claims have been playing out in often-violent encounters between Chinese and other ships.In Monday's run-in, Indonesia said it dispatched a patrol ship dispatched to warn the Chinese ship away via radio.It said the ship insisted the waters were Chinese, prompting Indonesia to send a navy ship and an aircraft to the area."Together, the two Indonesian patrol ships carried out shadowing and succeeded in driving the CCG 5402 ship out of Indonesia's jurisdiction," it said.Shadowing means following another ship from a distance, a way of pressuring a rival vessel without direct confrontation.Indonesia's Maritime Security Agency shared <a target="_blank" class="" href="https://www.youtube.com/watch?v=B4xRVvvgv58">aerial footage</a> of the operation on Wednesday, which it said showed the incident.Neither side immediately responded to requests for comment from Business Insider. As of early Thursday, China had yet to issue any public statement on the encounter.The incident escalates the dispute over the South China Sea, and highlights the richness of its resources.It is home to an <a target="_blank" class="" href="https://www.eia.gov/international/content/analysis/regions_of_interest/South_China_Sea/south_china_sea.pdf">estimated</a> 3.6 billion barrels of oil and other liquids and 40.3 trillion cubic feet of natural gas.China's claims overlap with neighboring countries, including Indonesia, Taiwan, Vietnam, Brunei, Malaysia, and the Philippines.An <a target="_blank" class="" href="https://www.businessinsider.com/philippines-soldiers-bare-hands-fight-armed-china-coast-guard-swords-2024-6">encounter in June</a> between the Philippines and China turned violent, escalating into a physical fight involving bare fists, knives, and swords.The US Navy <a target="_blank" class="" href="https://www.businessinsider.com/us-attempt-counter-china-south-china-sea-could-backfire-experts-2024-10">has made a point of operating in the South China Sea,</a> sailing in areas it regards as international waters.Malaysia and Vietnam are also pursuing oil-and-gas projects in the South China Sea, and running into Chinese opposition.The Center for Strategic and International Studies' Asia Maritime Transparency Initiative <a target="_blank" class="" href="https://amti.csis.org/control-by-patrol-the-china-coast-guard-in-2023/">assessed</a> in March that the China Coast Guard in 2023 patrolled near Vietnam's Vanguard Bank oil and gas operations for 221 days and near a major cluster of Malaysian oil and gas operations for 338 days.The encounters so far have stopped short of a true naval confrontation, which risks escalating into a devastating war.A conflict in the South China Sea — a critical trade route <a target="_blank" rel=" nofollow" class="" href="https://unctad.org/system/files/official-document/rmt2016_en.pdf">estimated</a> to carry one-third of global shipping — could result in a 10-33% loss in GDP for Taiwan, Singapore, Hong Kong, Vietnam, the Philippines, and Malaysia, according to a 2020 <a target="_blank" rel=" nofollow" class="" href="https://www.nber.org/system/files/working_papers/w28048/w28048.pdf">working paper</a> by the US National Bureau of Economic Research.

Indonesia sent a Chinese ship packing, escalating a fight over oil and gas in the South China Sea

<ul class="summary-list"><li>US stocks fell Monday as bond yields and oil prices moved higher.</li><li>The rise in oil prices and solid September jobs report has revived inflation concerns.</li></ul>US stocks retreated from near-record highs on Monday, with all three major moving averages declining by about 1%.A number of risk factors pushed stocks lower on Monday, including a jump in interest rates and oil prices, the <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">growing intensity of Hurricane Milton</a>, and negative news flow for a couple of mega-cap technology stocks.The 10-year US Treasury yield jumped back above 4% on Monday, representing its highest level in about two months. Friday's release of the September jobs report sparked the move higher in yields.The stronger-than-expected nonfarm payroll report showed <a target="_blank" class="" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10">employers added 254,000 jobs</a> last month, crushing estimates of about 150,000. The unemployment rate also declined slightly to 4.1%.Meanwhile, oil prices continued to surge on Monday, rising by about 4% as tensions in the Middle East continued to simmer on the first anniversary of the Hamas-led attack against Israel.The rise in oil prices and the stronger jobs report are fanning fears of a potential rebound in inflation, which would mean fewer rate cuts from the Federal Reserve."After Friday's strong employment report, the consensus might pivot to 'no rush to ease further' during the fall. We can't rule out 'higher for longer' making a comeback this winter. We are in the none-and-done camp for the rest of this year," Yardeni Research said in a note on Monday.Finally, a Wells Fargo analyst downgrade of Amazon sent that stock lower by about 3%, while Alphabet shares dropped 2% after a judge ordered <a target="_blank" class="" href="https://www.reuters.com/legal/us-judge-orders-google-open-up-app-store-competition-2024-10-07/">the company to open its app store to more competition,</a> handing a victory to Epic Games.Investors will <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-q3-earnings-preview-investors-themes-ai-interest-rates-2024-10">turn their attention to earnings season, which kicks off this week</a> with results from PepsiCo on Tuesday, followed by the first of the major banks on Friday.Finally, the September CPI report is also due out this Thursday. Economists expect the CPI index to rise 2.3% year-over-year in September, down from 2.5% in August. Bank of America analysts note that an upside surprise in last month's inflation reading has the potential <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-volatility-cpi-inflation-september-jobs-report-bofa-2024-10">to send stocks on a roller coaster this week</a>. Here's where US indexes stood shortly at the 4:00 p.m. closing bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,695.94, down 0.96% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,954.24, down 0.94% (-398.51 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,923.90, down 1.18% </li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-nvda-smci-super-micro-100000-gpu-chips-2024-10">Nvidia stock jumped 4% on Monday after Super Micro Computer said it was shipping more than 100,000 GPUs per quarter.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-jobs-report-growth-value-david-kelly-2024-10">JPMorgan's chief strategist told Business Insider why he is feeling "increasingly queasy" about the market.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-trader-lost-306-million-according-to-lawsuit-rbc-2024-10">A Tesla trader turned $65,000 into $306 million before losing it all, according to a lawsuit.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/texas-housing-market-home-prices-falling-austin-dallas-moving-trends-2024-10">Falling home prices and fed-up residents show the Texas housing boom is slowing down.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/inflation-outlook-fed-interest-rate-cuts-jobs-report-us-economy-2024-10">Consumer prices are still in focus for investors despite the Fed's recent pivot to the labor market.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-goldman-sachs-boosts-sp500-price-target-again-2024-10">Goldman Sachs increased its year-end S&amp;P 500 price target for the third time this year to 6,000.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude jumped 3.93% to $77.30 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 3.89% to $81.09 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was down 0.18% to $2,663.00 an ounce.</li><li>The 10-year Treasury yield was higher by 7 basis points at 4.032%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was higher by 0.82% to $63,335.</li></ul>

Stock market today: Indexes drop and yields, oil prices spike ahead of earnings and fresh economic data

<ul class="summary-list"><li>Dr. <keyword id="22853757" type="General" weightage="20" keywordseo="Michael-Roizen" source="keywords">Michael Roizen</keyword> is an expert in <keyword id="20186177" type="General" weightage="20" keywordseo="longevity" source="keywords">longevity</keyword> and uses scientific research to shape his lifestyle.</li><li>He shared the <keyword id="19904593" type="General" weightage="20" keywordseo="foods" source="keywords">foods</keyword> he has added to his diet that are linked to a longer lifespan.</li></ul>A doctor who claims to have <a target="_blank" class="" href="https://www.businessinsider.com/doctor-longevity-expert-reverse-biological-age-years-diet-principle-s2024-7">reversed his age by 20 years</a> shared the foods he eats weekly in a bid to boost his longevity. Dr. <a target="_blank" class="" href="https://www.businessinsider.com/busy-doctor-reversed-age-20-years-workout-routine-2024-7">Michael Roizen</a>, the chief wellness officer at Cleveland Clinic who has written books on longevity, is 78 years old but told Business Insider he has a "<a target="_blank" class="" href="https://www.businessinsider.com/what-is-the-maximum-age-of-humans-115-or-older-2023-3">biological age</a>" of 57.6. (It's important to note that there's no consensus on what constitutes biological age and how to measure it). He said that while <a target="_blank" class="" href="https://www.businessinsider.com/longevity-lifestyle-changes-live-longer-healthy-habits-genes-study-2024-5">genes play a part in life expectancy</a>, "the most important thing people have got to understand is that they get to control how long and how well they live." "You control your genes," he said, referring to <a target="_blank" class="" href="https://www.businessinsider.com/health-effects-of-epigenetics-2013-6">epigenetics</a>, or how lifestyle factors can influences if genes turn or or off. "Your choices matter," he added. For example, a 2023 study published in the journal Nature found that those who switched to a healthy, <a target="_blank" href="https://www.businessinsider.com/longevity-diet-food-list-cheap-easy-2023-11">longevity-associated diet</a> in the long term were more likely to live over a decade longer. The researchers said this was likely because the participants ate more whole grains, nuts, and fruit, and <a target="_blank" class="" href="https://www.businessinsider.com/what-you-can-do-to-live-longer-healthier-2023-9">cut down on sugary drinks and processed meats</a>. Roizen said that even the smallest additions to a person's diets can have a positive effect on their health. He shared the seven foods he eats each week. <h2><keyword id="20155915" type="General" weightage="20" keywordseo="olive-oil" source="keywords">Olive oil</keyword></h2>Roizen said he has a tablespoon of olive oil every day. A 2022 study published in the Journal of the American College of Cardiology found that people who consumed more than half a tablespoon of olive oil a day had a 19% lower risk of dying from <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/conditions-symptoms/what-is-heart-disease">cardiovascular disease</a>, a 17% lower risk of dying from cancer, and a 29% lower risk of dying from a neurodegenerative disease. Plus, replacing margarine, butter, mayonnaise, and dairy fats with olive oil appeared to lower the risk of dying by up to 34%. The authors suggested that this could be because of the anti-inflammatory and <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/diet-nutrition/olive-oil-benefits">antioxidant properties of olive oil</a>, or because people who consumed more olive oil also tended to be more active, less likely to smoke, and ate more fruits and vegetables. <h2><keyword id="21217173" type="General" weightage="20" keywordseo="salmon" source="keywords">Salmon</keyword> and trout</h2> <div type="image" title="Two cooked fillets of salmon on a plate with salad in the background." height="1061" width="1414" msid="112502318" hostid="261"></div>Eating fish once or twice a week was linked to a lower risk of dying from any cause in one 2022 study published in the European Journal of Nutrition. A separate 2018 study by researchers at China's Zhejiang University School of Medicine and the US-based National Cancer Institute had similar results. Participants who ate at least 227 grams of fish a week, per the 2015-2020 Dietary Guidelines for Americans, had a 10% lower risk of dying from cardiovascular disease, cancer, and Alzheimer's disease. The current US dietary guidelines recommend people eat fish like salmon and trout because they are high in vitamin D, <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/diet-nutrition/omega-3-benefits">omega-3 fatty acids</a> — which are important for heart health, providing energy, and building cells — and low in methyl mercury, a toxic heavy metal found in fish. <h2><keyword id="20510404" type="General" weightage="20" keywordseo="dark-chocolate" source="keywords">Dark chocolate</keyword></h2>With dark chocolate, it's not hard to eat "a little bit every day," as Roizen recommended. <a target="_blank" href="https://www.businessinsider.com/guides/health/diet-nutrition/dark-chocolate-benefits">Dark chocolate</a> has been linked to lower blood pressure, lower cholesterol, and a reduced risk of heart disease, BI previously reported. Dr. Florence Comite, an endocrinologist and precision medicine specialist, previously told BI that she counts her daily square of <a target="_blank" href="https://www.businessinsider.com/longevity-supplements-live-longer-precision-medicine-doctor-2024-3">dark chocolate as a supplement</a> because of antioxidants it contains. <h2>Mushrooms</h2>Like Comite with dark chocolate, Roizen sees <a target="_blank" href="http://link">mushrooms as a supplement</a>, which he eats at least five times a week. <div type="image" title="Mushroom and onion sandwich on a board." height="1131" width="1508" msid="112502324" hostid="261"></div>"One of my favorite lunches is the MLT," he said. "Instead of a BLT (bacon, lettuce, and tomato), you have a mushroom lettuce and tomato, which is absolutely healthy and tastes magnificent." Mushrooms contain ergothioneine, which researchers from Penn State University dubbed a "longevity vitamin" because of its antioxidant and anti-inflammatory effects. A 2020 <a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7229907/">study</a> by researchers from Lund University, Sweden, linked ergothioneine to a lower risk for coronary artery disease and cardiometabolic disease for the same reasons. <h2>Avocados</h2>A 2022 study published in the Journal of the American Heart Association found associations between eating two servings of avocado a week and a lower risk of coronary heart disease and cardiovascular disease. <div type="image" title="Half an avocado with a spoon in it, mid-scoop." height="1264" width="1685" msid="112502319" hostid="261"></div>Cardiovascular disease is the No. 1 cause of death and disability worldwide, according to the Centers for Disease Control and Prevention. <h2>Cauliflower</h2>Roizen makes a "cauliflower creamer" by blending the vegetable with olive oil and using it as a spread. Researchers wrote in a 2021 review of studies published in Frontiers in Pharmacology that cruciferous vegetables, including cauliflower, have been linked to lower cancer risk and the prevention and treatment of other chronic diseases, such as cardiometabolic disorders, Alzheimer's disease, depression, and musculoskeletal disorders. Correction: August 15, 2024 — An earlier version of this story misstated the year a study was published. The study on avocados in the Journal of the American Heart Association was published in 2022, not 2023.

A doctor who says he's reversed his age by 20 years eats these 7 foods every week to boost his longevity

<ul class="summary-list"><li>The Houthis attacked an oil tanker last month, leaving it stranded in the Red Sea.</li><li>The MV Sounion was finally towed to a safe area, a European naval mission announced this week.</li></ul>Satellite imagery obtained by Business Insider captures the difficult mission to rescue an oil tanker stranded in the Red Sea nearly a month after the Iran-backed Houthi rebels first attacked the vessel.After an unsuccessful earlier attempt, hindered by a mix of challenging factors, the European Union's counter-Houthi mission said on Monday that the MV Sounion was "successfully towed to a safe area without any oil spill" under its protection.Operation Aspides <a target="_blank" class="" href="https://x.com/EUNAVFORASPIDES/status/1835731041577009642">stated</a> that it would continue to monitor the situation while "private stakeholders" finish the salvage mission. It is unclear where the Greek-flagged Sounion is now.Satellite images captured by Maxar Technologies this past weekend show the salvage mission underway. European warships attached to Aspides helped secure the area, which has been subject to consistent Houthi attacks, providing safe passage for the tugboats.<div type="image" title="An overview of the Sounion with a salvage tug and support vessels in the Red Sea on September 14." height="1446" width="2602" msid="113463762" hostid="261" sizebytes="742118"></div><div type="image" title="A close-up view on the Sounion with a salvage tug in the Red Sea on September 14." height="6194" width="8757" msid="113463761" hostid="261" sizebytes="2673394"></div><div type="image" title="A French warship sails near the Sounion during the salvage operation." height="1436" width="2302" msid="113463759" hostid="261" sizebytes="608014"></div>"The completion of this phase of the salvage operation is the result of a comprehensive approach and close cooperation between all stakeholders committed to prevent an environmental disaster affecting the whole region," Aspides said on Monday.Another satellite image that was captured by BlackSky on Saturday shows a different view of the salvage operation, including several unidentified vessels and a Greek warship operating nearby, underscoring the European security efforts.<div type="image" title="Another image shows the salvage operation underway." height="1642" width="2919" msid="113463754" hostid="261" sizebytes="473104"></div>The Houthis <a target="_blank" class="" href="https://www.businessinsider.com/photo-nato-warship-destroys-drone-boat-red-sea-rescue-mission-2024-8">attacked the Sounion</a> multiple times in late August, leaving the tanker without power and stranded in the water and forcing the crew to abandon the vessel.The Sounion was transporting the equivalent of 1 million barrels of crude oil from Iraq to Greece. At one point, Houthi rebels boarded the tanker and <a target="_blank" class="" href="https://www.businessinsider.com/houthis-detonated-bombs-tanker-risk-catastrophic-red-sea-oil-spill-2024-8">detonated multiple explosives</a> on the vessel, setting it ablaze and triggering fears of a catastrophic oil spill.The US warned that Sounion's unsustainable condition threatened an environmental disaster much worse than the notorious 1989 Exxon Valdez incident, considered one of the worst environmental calamities in American history.<div type="image" title="The MV Sounion is seen on fire in the Red Sea on September 9." height="5575" width="9675" msid="113463756" hostid="261" sizebytes="5221930"></div>An initial attempt to salvage the Sounion was unsuccessful in early September, falling through over safety concerns.Rear Adm. Vasileios Gryparis, the operational commander of Aspides, told BI earlier this month that a successful salvage mission required meeting safety, technical, environmental, and weather considerations.He said at the time that among the challenges impacting the salvage mission were the fires onboard the Sounion and plans to transfer the oil from the vessel to another tanker.The Houthis have struck a number of vessels with missiles and drones since the Iran-backed rebels started attacking merchant shipping lanes in the Red Sea and Gulf of Aden last fall.US and European naval forces have intercepted many of the Houthis' weapons, while others have failed to reach their targets or were destroyed in Yemen before launch by the Western forces, but attacks still sometimes get through.

Satellite images show the difficult mission to save a stricken oil tanker in the Red Sea

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="267" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> has won a vote of confidence from global rating agencies <keyword id="20043943" type="General" weightage="20" keywordseo="SP" source="keywords">S&amp;P</keyword> and <keyword id="19950093" type="General" weightage="20" keywordseo="Fitch" source="keywords">Fitch</keyword> after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. S&amp;P Global Ratings and Fitch Ratings in separate notes spoke of its <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> (loosely known as pre-tax profit) rising in the current fiscal year and next on rising revenue and past investments. "<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword> Ltd's (<keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword>) strong earnings will keep leverage in check as the company continues to pursue growth ambitions. We expect the company's debt-to-EBITDA ratio to remain commensurate with the rating (BBB+/Stable/--)," S&amp;P said in a note. The oil-to-telecom-and-retail conglomerate's growth aspirations remain intact, it said, adding the company has ramped up investments in the media business in recent months. In 2024, it entered into binding definitive agreements with The Walt Disney Co for a media joint venture in which RIL will invest Rs 11,500 crore. The company subsequently agreed to buy Paramount Global's 13.01 per cent stake in local entertainment network Viacom18 Media Pte Ltd for about Rs 4,300 crore. "These investments are in line with RIL's strategy to diversify and have a strong presence in a few key industries," the rating agency said. Also, the company received government approval in 2024 to develop gas reserves in the KG-D6 block in the Bay Of Bengal. This could increase the company's gas production capacity by 13-17 per cent. RIL's earlier announced investments include a Rs 75,000 crore expansion plan over five years (starting 2022) for the oil-to-chemicals business. "RIL's earnings will benefit from past investments," S&amp;P said. "We project the company's adjusted EBITDA will rise 2-4 per cent in fiscal 2025 (year ending March 31, 2025)," it added. Just as in the past two years, the digital services segment (Reliance Jio Infocomm Ltd) will be the key growth driver, with segment's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) increasing 10-12 per cent in fiscal 2025. Reliance Jio's wireless subscriber base and average revenue per user will gain from the company's investments in its 5G network since late 2022. Meanwhile, earnings in the oil and gas as well as retail segments will reap the rewards of increased production volume and a wider retail store network. "The EBITDA improvement that we expect in fiscal 2025 comes after a 14 per cent increase to Rs 1.6 lakh crore in fiscal 2024," it said. S&amp;P saw RIL's rising earnings providing it greater balance-sheet flexibility for growth. "We expect the combination of robust operating performances and continued spending to keep the company's debt-to-EBITDA ratio at 1.8x-2.0x over the next two years. This compares with our estimate of 1.7x for fiscal 2024 and our downgrade trigger of 2.5x," S&amp;P said. RIL's leverage has some distance from the upper end of the company's internal leverage target. RIL has reiterated its intention to keep its net debt-to-EBITDA ratio (by its own calculations) below 1x. The ratio was 0.65x as of March 31, 2024. Separately, Fitch Ratings said RIL's EBITDA net leverage is likely to remain below 1x in the medium term, supported by increasing cash flows and lower capex intensity, even as the conglomerate's absolute capex and investments remain high in the near term. "We expect RIL's EBITDA to increase by 8 per cent year-on-year in the financial year ending March 2025 (FY25) and 14 per cent in FY26, while capex intensity (capex/revenue) is likely to reduce below 13 per cent by FY26 (FY24: 15.3 per cent). Lower capex intensity would be driven by growing revenue and reduction in capex after FY25," it said. Fitch expected the conglomerate's Cash Flow from Operations (CFO) to be sufficient to fund its capex from FY26, which will limit additional debt funding and keep its EBITDA net leverage below 1.0x in the medium term (FY24: 0.9x, FY23: 1.1x). "Fitch estimates RIL's FY24 EBITDA net leverage at 0.9x, better than our expectation of 1.1x, driven by marginally higher EBITDA and Rs 20,900 crore of equity raised mainly from the sale of a stake in a subsidiary, even as its capex remained high at Rs 1.5 lakh crore (FY23: Rs 1.4 lakh crore)," the rating agency said in a statement. It rates RIL at 'BBB'/Stable, one notch above India's rating (BBB-/Stable). "We expect the EBITDA increase in the near to medium term to be driven by the telecom and retail businesses, supported by contribution from the upstream oil and gas segment and marginal recovery in petrochemical spreads in the oil to chemical (O2C) segment," Fitch said, adding EBITDA from digital services, largely telecom, is likely to benefit from a 10-15 per cent tariff hike and 15-20 million of additional subscribers in FY25 (FY24: 482 million subscribers). Digital services EBITDA rose by 13 per cent in FY24, as Reliance added 42 million subscribers and monthly average revenue per user increased to Rs 182. Monthly user data consumption increased by 24 per cent to 28.7 GB, one of the highest globally. Fitch expected retail EBITDA to increase by 20-25 per cent in FY25 (FY24: 28%) as Reliance continues to expand its physical stores and digital channels. EBITDA would be supported by a 22.2 per cent increase in its registered customer base to 304 million in FY24. Also, O2C segment EBITDA is expected to remain above Rs 60,000 crore in FY25 (FY24: Rs 62,400 crore), as a gradual improvement in petrochemical spreads from FY24 lows is expected as a supply overhang recedes. Upstream oil and gas EBITDA should stay at around Rs 20,000 crore in FY25 (FY24: Rs 20,200 crore), assisted by the expectation of a 10 per cent increase in gas production in the first full year of operation of three gas fields in the KG-D6 block, which should offset the potential reduction in price realisation with lower gas prices in international benchmarks. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a>

Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check

One must have to be living under a rock if they haven’t yet come across those reels of “health” influencers raving about the many health benefits of <keyword id="21778414" type="General" weightage="20" keywordseo="omega-3" source="keywords">omega-3</keyword> and <keyword id="21766014" type="General" weightage="20" keywordseo="fish-oil-supplements" source="keywords">fish oil supplements</keyword>. From aiding weight loss in those suffering from PCOS to promoting bone and skin health, there’s little these tiny golden capsules can’t achieve, as far as they are concerned. To their credit, fish oil supplements do seem to be helpful to a certain extent and their role in protecting against <keyword id="21778415" type="General" weightage="20" keywordseo="cardiovascular-risks" source="keywords">cardiovascular risks</keyword> is well documented. However, a recent <a href="https://bmjmedicine.bmj.com/content/3/1/e000451">study</a> conducted by a team of international researchers has thrown the fish oil supplement's presumed safety into question. And understandably, ripples are being caused. <cmsannotation type="cmsannotation" annotationid="Contradictory results surprise scientists" comment="subhead" text="Contradictory results surprise scientists">Contradictory results surprise scientists </cmsannotation>After monitoring 400,000 participants in the UK Biobank for an average of 12 years, researchers were in for a surprise! The findings revealed a 13% higher risk of <keyword id="20710883" type="General" weightage="20" keywordseo="atrial-fibrillation" source="keywords">atrial fibrillation</keyword> — irregular heart rhythm — and a 5% heightened risk of strokes in those with no prior history of cardiovascular disease. But for individuals who already had <keyword id="19898369" type="General" weightage="20" keywordseo="heart-disease" source="keywords">heart disease</keyword>, the fish oil supplements resulted in a 15% lower risk of progression from atrial fibrillation to heart attack, and 9% lesser chances of advancing from heart failure to death. This is in line with previous studies indicating how Omega-3 fatty acids, especially EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), are beneficial for reducing cardiovascular complications. However, there is a catch: the study found mixed results for the effects of omega-3 supplements. Interestingly, women and non-smokers who were healthy at the outset saw 6% higher risks of going on to have heart attacks, heart failure or strokes. Conversely, older people and men seemed to have derived greeted benefits from fish oil, with the transition from good health to death being 11% and 7% lower respectively. It is important to note that this study is based entirely on data from mostly white people, so it doesn’t precisely account for the impacts of fish oil supplements on other ethnicities. Then again, scepticism about the side effects of fish oil supplements on people with no history of heart disease isn’t new. Groups that have traditionally consumed a lot of fish containing omega-3 fatty acids have been known to have lower instances of heart disease. Fish oil supplements, the pill form of these polyunsaturated fats, have a decades-long track record of proven benefits for heart health — for people who already have these risks being key here. Now, according to a 2023 Lancet study, cardiovascular diseases are the leading cause of death and disability in India. In that regard, omega-3 supplements do have quite a bit of merit in the Indian market. Nutraceutical businesses have already gained traction cross-country and are growing increasingly popular. What’s more, this market is only expected to grow further due to the rise in product knowledge, disposable income and the desire for <keyword id="20523304" type="General" weightage="20" keywordseo="preventive-medicine" source="keywords">preventive medicine</keyword> and self-treatment. <cmsannotation type="cmsannotation" annotationid="Are over-the-counter products safe?" comment="subhead" text="Are over-the-counter products safe?">Are over-the-counter products safe? </cmsannotation>Based on older studies, as well as the recent one, the risks that fish oil supplements pose do outweigh the benefits in healthy people. So if you’ve been chugging fish oil capsules in hopes that it would help you circumvent health complications in the future, it might be a good idea to take a step back and think. The problem with <keyword id="21778416" type="General" weightage="20" keywordseo="over-the-counter-supplements" source="keywords">over-the-counter supplements</keyword> is that there’s no real proof that they are actually helping with anything. And given recent controversies in some of the food products being manufactured in India, caution regarding food-grade products is paramount. There is no need to villainise fish oil supplements just yet. However, getting advice and a prescription from a certified healthcare professional who knows your specific health conditions might be a better idea than just relying on half-baked and generalised information from the internet. Furthermore, opting for <keyword id="21778417" type="General" weightage="20" keywordseo="pharmaceutical-grade-fish-oils" source="keywords">pharmaceutical-grade fish oils</keyword> is considered a safer bet to take in high doses. Over-the-counter fish oil supplements contain a low dose (about 1 gram) of two different omega-3 fatty acids DHA and EPA. Prescription fish oil pills contain about 4 grams of either a DHA/EPA combo or pure EPA — the compounds mainly responsible for cleaning you of triglycerides. With a barrage of nutraceuticals having entered our pharmacies, we might need a lot more research in the Indian context to determine just how safe these fish oil supplements are. In the meantime, stay informed and stay safe.

You Searched For "ril oil business result" and got 8 results

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