Chesapeake Energy Corp. said Tuesday that it has sold oil assets to a division of U.K. chemical maker Ineos Group AG for $1.4 billion.
The deal involves oil assets in the northern part of the Eagle Ford shale basin in South Texas. The sale marks the first foray of Ineos, one of the world's largest chemical producers, into U.S. oil and gas production, Ineos said in a news release.
Rising Bond Yields Rattle 2023 Stock Rally
Last year's markets boogeyman is back.
U.S. government debt has reversed its early-year rally, sending Treasury yields higher than where they finished 2022. That is threatening to end a brief reprieve for stocks and riskier types of bonds, which both languished last year as yields climbed rapidly.
Stablecoins Attract Scrutiny in SEC's Drive to Control Crypto
Washington's battle to rein in crypto has a new front: stablecoins.
The Securities and Exchange Commission is investigating whether stablecoins, cryptocurrencies that maintain a price of $1, are among the products that were issued in violation of investor-protection laws. SEC enforcement lawyers have told Paxos Trust Co. that regulators plan to take enforcement action over its stablecoin, BUSD, although that decision isn't final.
Hong Kong's Economy Forecast to Grow 3.5%-5.5% in 2023
Hong Kong's economy is forecast to grow 3.5%-5.5% this year, as pressure on the city's exports should ease owing to the Chinese economy's accelerated growth and the lifting of restrictions on cross-border truck movements, Financial Secretary Paul Chan said in his budget speech on Wednesday.
As sentiment improves in tandem with the revival of economic activities and the fast return of Hong Kong's exchanges with mainland China and the world to normalcy, private consumption will increase, Mr. Chan said.
Biden Administration to Cut Mortgage Insurance Costs for Lower-Income Buyers
WASHINGTON-The Biden administration is expected to trim costs under a mortgage program for first-time and lower-income buyers, a bid to boost affordability while median home prices remain near record highs, according to people familiar with the move.
The Federal Housing Administration will reduce the fee borrowers pay to have their mortgages insured by the agency by about $800 a year on a typical loan, or 0.3 percentage point, the people said.
China's Xi Jinping Plans Russia Visit as Putin Wages War in Ukraine
HONG KONG-Chinese leader Xi Jinping is preparing to visit Moscow for a summit with Russia's president in the coming months, according to people familiar with the plan, as Vladimir Putin wages war in Ukraine and portrays himself as a standard-bearer against a U.S.-led global order.
Beijing says it wants to play a more active role aimed at ending the conflict, and the people familiar with Mr. Xi's trip plans said a meeting with Mr. Putin would be part of a push for multiparty peace talks and allow China to reiterate its calls that nuclear weapons not be used.
Iran May Tempt a World Looking for More Oil
About the author: Jim Krane is the Wallace S. Wilson fellow for energy studies at Rice University's Baker Institute.
Major Winter Storm Brings Outages, Canceled Flights and Heavy Snow
Strong winds and heavy snowfall whipped western and central states overnight, leaving tens of thousands of homes without power as a winter storm began to barrel its way across the U.S.
Gusts of up to 64 miles-an-hour swept parts of Northern California, while forecasters in the Midwest warned some areas to brace for record snowfall.
Tucker Carlson Obtains Jan. 6 Riot Footage, Prompting Anger From Democrats
Fox News host Tucker Carlson said he has possession of thousands of hours of security-camera footage from the Jan. 6, 2021, riot at the U.S. Capitol, sparking anger from Democrats who called the development dangerous.
Mr. Carlson said on the air Monday night that his show has been given more than 40,000 hours of footage, and he said producers have been looking through the material and will provide coverage of its findings next week. Mr. Carlson has questioned whether investigators including the House Jan. 6 committee created to probe the attack have provided an accurate portrayal of the events that day.
Biden Delivers Defiant Speech While Rallying Allies to Ukraine's Aid
WARSAW, Poland-President Biden struck a defiant tone in an address rallying allies and declaring that Russia would never prevail in its war with Ukraine, which is now entering its second year.
"Appetites of the autocrat cannot be appeased. They must be opposed," Mr. Biden said before hundreds of flag-waving Poles and an array of diplomats gathered at the Royal Castle complex here. "Ukraine will never be a victory for Russia. Never," Mr. Biden said, hours after Russian President Vladimir Putin said Russia would never be defeated on the battlefield.
Russia's War Machine Tested by Rift Between Military, Wagner Group
Serious divisions are being exposed in Russia's war effort amid a deepening public standoff between top military officials and the owner of a paramilitary force fighting alongside the regular army.
The Wagner paramilitary unit, which has ballooned in size since recruiting tens of thousands of convicts from Russian prisons in recent months, has suffered the majority of casualties since it began spearheading a monthslong campaign to take the city of Bakhmut in east Ukraine.
Write to ina.kreutz@wsj.com TODAY IN CANADA
Earnings:
Alamos Gold 4Q
B2Gold 4Q
Bausch + Lomb 4Q
BELLUS Health 4Q
Calibre Mining 4Q
CCL Indus 4Q
Chemtrd Logst Incm 4Q
Exchange Income 4Q
Gear Energy 4Q
Gildan Activewear 4Q
Innergex Renewable Energy 4Q
kneat.com 4Q
Lundin Mining 4Q
Pan American Silver 4Q
PHX Energy 4Q
SSR Mining 4Q
Stantec 4Q
Stelco 4Q
Sylogist 1Q
Taseko Mines Limited 4Q
Torex Gold Resources 4Q
Trican Well 4Q
Wesdome Gold Mines 4Q
Whitecap Resources 4Q
Economic Indicators (ET):
0830 Jan New Housing Price Index
Stocks to Watch:
Alamos Gold Reports Mineral Reserves and Resources for the Yr-Ended 2022; Global Proven and Probable Mineral Reserves Increased 2% to 10.5 M Ounces of Gold
Cerro Grande Mining Corporation: Tamidak Receives Necessary Permits for Tailings Pond Reprocessing to Start at Pimentón Project
Clairvest Re-Enters Life Sciences Industry With Investment in Boca Biolistics; Made a $25 M Equity Investment in Boca Biolistics
Equinox Gold 4Q EPS $0.074Q; Rev $259.3M; Expects 555,000-625,000 Oz of Gold Output in 2023; 2022 Gold Output Was 532,319 Oz at All-In Cost of $1,622/Oz; 4Q Gold Output Was 149,386 Oz at Avg Realized Price of $1,733/Oz
GFL Environmental 4Q Loss/Shr C$0.66; 4Q Rev C$1.82B; Sees FY23 Rev C$7.55B-C$7.65B; Is Considering Potential Sale of Certain Non-Core Solid Waste Ops in U.S.
Gran Tierra Energy 4Q EPS 9C
K92 Mining Announces Latest High-Grade Gold & Copper Drill Results at Kora-Kora South and Judd-Judd South; Multiple Dilatant Zones Intersected
Slate Office REIT 2022 Rental Revenue C$196.5M; 2022 FFO/Unit C$0.48
Solution Financial Renews Normal Course Issuer Bid; May Buy Up to 4.36M Shrs, or 5% of Outstanding Shares
Triple Flag Precious Metals 4Q EPS 10c; 4Q Rev $43.9M; In 2023, Expect Attributable Royalty Income and Stream Sales to Total 100,000 to 115,000 Gold Equivalent Ounces
5N Plus 4Q Rev $61M; 2022 Loss/Shr 26C
Expected Major Events for Wednesday
05:00/JPN: Jan Steel Production
05:00/JPN: Jan Supermarket sales
06:30/GER: Jan North Rhine Westphalia CPI
07:00/GER: Jan CPI
07:45/FRA: Feb Monthly business survey (goods-producing industries)
09:00/GER: Jan Bavaria CPI
09:00/GER: Jan Brandenburg CPI
09:00/GER: Jan Hesse CPI
09:00/GER: Jan Baden-Wuerttemberg CPI
09:00/ITA: Jan CPI
09:00/GER: Feb Ifo Business Climate Index
10:00/GER: Jan Saxony CPI
12:00/US: 02/17 MBA Weekly Mortgage Applications Survey
13:30/CAN: Jan New Housing Price Index
13:55/US: 02/18 Johnson Redbook Retail Sales Index
21:30/US: 02/17 API Weekly Statistical Bulletin
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Wednesday
A&W Revenue Royalties Income Fund (AW.UN.T,AWRRF) is expected to report for 4Q.
Altra Industrial Motion Corp (AIMC) is expected to report $0.60 for 4Q.
America's Car-Mart (CRMT) is expected to report $0.34 for 3Q.
Audacy Inc (AUD) is expected to report for 4Q.
Avista Corp (AVA) is expected to report $0.78 for 4Q.
Berry Corp (bry) (BRY) is expected to report $0.20 for 4Q.
Brink's Co (BCO) is expected to report $0.61 for 4Q.
Charles River Laboratories International Inc (CRL) is expected to report $2.14 for 4Q.
Clovis Oncology Inc (CLVSQ) is expected to report $-1.72 for 4Q.
Cumulus Media Inc (CMLS) is expected to report for 4Q.
Driven Brands Holdings Inc (DRVN) is expected to report for 4Q.
EVO Payments Inc (EVOP) is expected to report $-0.15 for 4Q.
Escalade Inc (ESCA) is expected to report for 4Q.
Freddie Mac (FMCC) is expected to report for 4Q.
G1 Therapeutics Inc (GTHX) is expected to report $-0.84 for 4Q.
Genesis Energy LP (GEL) is expected to report $0.32 for 4Q.
Gentherm (THRM) is expected to report $0.57 for 4Q.
Gibraltar Industries (ROCK) is expected to report $0.69 for 4Q.
Gildan Activewear Inc (GIL,GIL.T) is expected to report $0.64 for 4Q.
Integra Lifesciences Holdings Corp (IART) is expected to report $0.69 for 4Q.
Kaltura Inc (KLTR) is expected to report for 4Q.
NiSource Inc (NI) is expected to report $0.49 for 4Q.
Overstock.com (OSTK) is expected to report $-0.03 for 4Q.
PGT Innovations Inc (PGTI) is expected to report $0.27 for 4Q.
PROG Holdings Inc (PRG) is expected to report for 4Q.
Patriot National Bancorp Inc (PNBK) is expected to report for 4Q.
Photronics (PLAB) is expected to report $0.40 for 1Q.
Physicians Realty Trust (DOC) is expected to report $0.03 for 4Q.
Repligen Corp (RGEN) is expected to report $0.47 for 4Q.
(MORE TO FOLLOW) Dow Jones Newswires
02-22-23 0627ET
