Aggregator

CBS News' “60 Minutes” is planning to resurrect the closing commentary segment made famous by Andy Rooney, according to a report.

Fuel Rationing Reaches Moscow Amid 'Second Wave' National Shortages

Already Russia has been subject to many months of a ramped-up long-range drone campaign out of Ukraine, chiefly targeting oil refineries as well as industrial sites - and most recently expanding to online retail companies and attacks on private sector businesses. 

Tuesday saw one of the single biggest drone waves on Moscow of the war, for example, with at least 600 sent against against the capital region, resulting in widespread panic and some casualties. Making matters worse for the Russian population, several gas station networks have introduced new restrictions on fuel sales - which is a rarity for the capital.

Getty Images

Gazprom Neft as well as Tatneft have confirmed via representatives and their customer service lines that limits have now been placed on petrol sales at Moscow filling stations.

Long lines of cars have been observed at filling stations in and around the capital city, with Reuters detailing the following:

• A customer hotline ​operator at ​Gazprom Neft said gasoline and diesel ​sales at the company's automated ‌filling stations in Moscow were limited to 40 litres [10 gallons] per customer.
• At Gazprom Neft's other filling stations, diesel sales remain unrestricted, while gasoline purchases are capped at 60 litres per vehicle.
• Rosneft, Russia's largest oil producer, said gasoline sales at all its filling stations across Russia ‌were limited to 30 litres per vehicle [about 8 gallons], ​while diesel sales faced no restrictions.

These companies have also been warning customers to be prepared for longer waiting times for fill-up due to heightened demand.

One reason being offered by Russian energy giants for the delays is "unscheduled refinery maintenance" - which is a vague but obvious reference to damage left in the wake of Ukraine's constant drone attacks on the nation's oil and refining infrastructure.

As for the latest attacks, on Wednesday it's being widely reported that Ukrainian drones struck an oil refinery and a residential building in the republic of Bashkortostan, regional head Radiy Khabirov also confirmed.

The incident once again demonstrates the very far reach of Ukrainian drones, given that Bashkortostan is fairly remote from the Ukraine border, lying north of Kazakhstan.

Frustration returns at the pumps...

Russia’s fuel crisis is back—and so are the queues.

Recent videos show drivers waiting for petrol across Moscow and multiple Russian regions. In some places, frustration is spilling into fights at the pumps. 🧵

(Video: @ASTRA_PRESS) pic.twitter.com/6i06lHrAiY

— New Eurasian Strategies Centre (NEST Centre) (@nestcentreorg) August 17, 2026

"We're currently assessing the damage, but preliminary reports indicate that a unit undergoing maintenance was hit. As always, falling debris damages pipes, so there’s minor damage," Khabirov told TASS. "I expect everything will be repaired in a couple of days," the official added.

Starting late last week, Russian officials began openly acknowledging a renewed fuel shortage crisis. Oil companies are "taking the necessary measures to increase deliveries to the most vulnerable regions," a somewhat rare Kremlin statement said at the time. This current crisis has been deemed the 'second wave' fuel shortage to hit Russia.

Tyler Durden Wed, 08/19/2026 - 10:20

SK Hynix Unleashes South Korea's Biggest-Ever 'Buyback Bazooka' To Halt Stock Rout

Asian equities fell sharply overnight as the regional semiconductor rout intensified following another downdraft in US chipmakers on Tuesday (read morning wrap). Japan, South Korea, and Taiwan led the regional declines, while Chinese stocks also weakened despite the blockbuster IPO of humanoid robotics maker Unitree.

Against that bearish backdrop, SK Hynix announced the largest share buyback in South Korean history, a highly aggressive attempt to arrest a six-week selloff that has erased roughly half of its market value. The scale of the buyback shows just how concerned management is that the drawdown has become disconnected from the company's fundamentals and underscores its desire to put a floor under the stock.

Nikkei Asia reports that SK Hynix's stock buyback program totals a staggering 40 trillion won, or $28.6 billion, and will involve purchasing 24.1 million treasury shares in the open market from Thursday through Nov. 19 to improve shareholder value.

"The decision stems from the assessment that the company's intrinsic value -- underpinned by its business competitiveness, robust cash generation capability, and mid-to-long-term growth potential -- is not fully reflected in its current stock price," SK Hynix said in a statement. The company noted that progress toward its financial health targets remains on track, affirming its "commitment to maintaining a stable financial structure while delivering sustained shareholder value."

SK Hynix's announcement followed a nearly 10% drop in the stock during overnight trading in South Korea, as rising bond yields, persistent inflation, and the deepening US-Iran crisis sparked a broader move out of semi stocks. Samsung Electronics also tumbled nearly 8%, while South Korea's main equity index, the Kospi, fell 5.8%.

Jefferies analyst Lloyd Byrne warned clients on Monday that rising energy prices and an elevated rate environment, especially in the US, have sparked a rotation out of semiconductor stocks and into high-quality energy and materials stocks (read report).

Here's more color on SK Hynix's buyback program from the Japanese outlet:

SK Hynix said the buyback program marks the largest treasury share cancellation ever conducted by a South Korean-listed company. The Lee Jae Myung government encouraged listed companies to buy back and cancel treasury shares to address the so-called Korea discount, in which investors have historically undervalued the country's stocks due to poor corporate governance and low shareholder return.

Macquarie analyst Daniel Kim provided clients this morning with why the buyback program is very important: 

Why it matters

• More to come. Won40tr might be short of the market’s high and hasty expectations. However, we still think that this is just the beginning. We calculate the remainder to be returned to shareholders to be Won243tr in case of 50% FCF and Won358tr in case of 70% FCF. This is equivalent to 22% and 33% of its market cap, respectively.
• Optimal capital structure. We estimate its net cash position to mushroom from Won69tr in 2Q26 to Won192tr in 2026-end and to Won523tr (50% of its market cap) in 2027. This would be way higher than the level of cash on hand the company wants to keep to cover 2 years’ capex, or over Won120tr.
• Additional ADR issuance. Assuming SK Hynix issues the same 24.07mn shares, or 240.7mn ADR (10 ADR to 1 underlying), the company can bring in Won59tr proceeds due to a 47% ADR price premium, resulting in even higher net cash balance. In other words, its cash balance should continue to swell, and we think its war chest should be strong enough to return even 100% of FCF like its US peers.
• Likely a big increase in cash dividend. We expect Hynix to increase cash dividend substantially from 2026. This should be positive for SK Square (402340 KS, Outperform), which owns 20% stake in SK Hynix. Hynix increased capital surplus by Won4tr in 1Q26, which could be paid as tax-free cash dividend for 2026. Thanks to ADR issuance, Hynix now has more room to raise capital surplus and accordingly is able to increase tax-free 2027 cash dividend.
• Upside to 50% of FCF. Management alludes the upside to the current 50% FCF rule and the mix of capital return could be skewed to share buybacks versus cash dividend. Different from its local peer, SK Hynix will not count the spending on M&A in FCF calculation.

What now

• SK Hynix, in our view, is in oversold territory, considering strong earnings momentum, continued shareholder value enhancement. Outperform.

SK Hynix's shares in Korea are down 45% on the year. US ADRs are up 6% in early trading. 

SK Hynix accounted for 21.43% of the Kospi's market capitalization at Tuesday's close, making it the index's second-largest constituent, behind Samsung Electronics at 27.71%.

Any reversal in SK Hynix could help stabilize the broader equity index...

... and are about to blow up all over again https://t.co/vU9i4jXYXk

— zerohedge (@zerohedge) August 19, 2026 Tyler Durden Wed, 08/19/2026 - 10:00

Zach Hickerson found the "Bring It On: All or Nothing" star unresponsive in the South Carolina Airbnb they had been staying in with his brother.

Zach Hickerson found the "Bring It On: All or Nothing" star unresponsive in the South Carolina Airbnb they had been staying in with his brother.

Amber Williams, who lives in London, said years of agonizing pain were dismissed as "just periods" despite countless doctor's appointments, repeated trips to the hospital, scans and major operations.

The star has quickly become Hollywood’s newest “it” girl.

The star has quickly become Hollywood’s newest “it” girl.

Neither Iger nor Kushner could personally write a check large enough to cover the Lakers' $12.5B sale

Neither Iger nor Kushner could personally write a check large enough to cover the Lakers' $12.5B sale

The short-lived White House communications director turned anti-Trump podcast host is the latest exec to host a hush-hush, high-level financial forum.

The short-lived White House communications director turned anti-Trump podcast host is the latest exec to host a hush-hush, high-level financial forum.

The monarch went public with his cancer diagnosis in February 2024.

The monarch went public with his cancer diagnosis in February 2024.

A Penn State frat bro charged with running a cocaine trafficking ring from his frat house was caught after authorities were tipped off that he was allegedly accepting Venmo payments for drugs under his own name.

Biermann and Kyle Mowitz's ex Jillian Green were photographed packing on the PDA during a hike in Georgia over the weekend.

Biermann and Kyle Mowitz's ex Jillian Green were photographed packing on the PDA during a hike in Georgia over the weekend.

The video also showed her pouring hot wax from a lit candle onto her chest, while in a second video, she was seen dripping molten wax on her two crying daughters' hands and onto her leg.

DOE Cancels 3 National Transmission Corridors, Citing "Green New Scam"

By Diana DiGangi of UtilityDive

Summary

• The U.S. Department of Energy will not move forward with the designation of three proposed National Interest Electric Transmission Corridors that the Biden administration selected for review in 2024, saying in a Wednesday release that the corridors were selected as a “means to advance” that administration’s “Green New Scam agenda.”

• “Transmission policy must serve the American people,” Energy Secretary Chris Wright said in the release, “not special interests or a climate-alarmist agenda that drives up costs, worsens reliability, and disregards the concerns of local communities.”

• DOE’s release alleged that the “current designation framework proved ineffective in strengthening grid reliability and reducing electricity costs. In some communities, it also contributed to confusion and concern about the scope and intent of NIETC authority.”

The three cancelled corridors are the Lake Erie–Canada Corridor, the Southwestern Grid Connector Corridor and the Tribal Energy Access Corridor.

The DOE’s webpage about the NIETC process no longer includes details about the three projects. A cached version, from March 2026, said that the three proposed corridors would serve various purposes, including providing needed resource adequacy support to the PJM Interconnection, providing “cross-interconnection and interregional connections” between the Southwest Power Pool and WestConnect regions, and facilitating Tribal energy and economic development “by addressing a lack of extra high-voltage transmission.”

According to the current DOE webpage, a NIETC designation can unlock federal financing tools, “specifically public-private partnerships,” as well as allow the Federal Energy Regulatory Commission to “issue permits for the siting of transmission lines within the NIETC under circumstances where state siting authorities do not have authority to site the line, have not acted on an application for over one year, or have denied an application.”

DOE said a NIETC is an area of the country where the agency has “determined the lack of adequate transmission harms consumers and that the development of new transmission would advance important national interests in that area, such as increased reliability and reduced consumer costs.”

Cattle producer-only trade association R-CALF USA praised DOE’s decision, as it had raised concerns in 2024 about the siting of the corridors for their potential to “disrupt independent livestock operations or result in the loss of essential grazing and haying lands.” Other groups, including the Environmental Defense Fund and Clean Air Task Force, criticized the cancellation and said DOE is turning down an opportunity to strengthen the grid.

The cancelled corridors were selected to “help address areas with significant transmission congestion,” CATF said in a release. “Transmission congestion increases costs and reduces reliability for ratepayers.”

“If the goal is affordable, reliable, and secure electricity, we should be making it easier to build the infrastructure the grid needs — not dismantling federal frameworks designed to facilitate it,” said Nicole Pavia, CATF’s Director of Clean Energy Infrastructure Deployment.

EDF noted that while Wright said the current designation framework had “proved ineffective,” DOE’s National Transmission Needs Study from July said that NIETC designation “enables DOE and FERC to use valuable federal financing and permitting tools to spur construction or modification of transmission facilities within a NIETC.” The National Transmission Needs Study is a triennial report, the findings of which form the basis for NIETC designations, according to DOE.

DOE’s release said the Trump administration has taken other steps to build new transmission infrastructure and modernize existing infrastructure, citing several billion-dollar loans made by its Office of Energy Dominance Financing to build, rebuild and reconductor transmission lines.

Tyler Durden Wed, 08/19/2026 - 09:30

Talk about an ending! Or is it?