🛢 Chevron’s costly coup

China took a potshot at Micron | Chevron spent big | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for May 23rd in 3:14 minutes. 📉 A downturn in the economy doesn’t have to mean a dropoff in your returns too. Join Nutmeg's James McManus for [Three Industries That Thrive In A Downturn]( this Tuesday, May 23rd, and find out which sectors rise when everything else is falling. [Get your free ticket]( Today's big stories - Big-spending Chevron snapped up PDC Energy - Here’s how to find an active ETF that fits your goals – [Read Now]( - China hit back hard, as the chip war with the US heats up Shale And Hearty [Shale And Hearty] What’s going on here? Chevron’s staying fighting fit with the [purchase]( of PDC Energy, a smaller oil and gas rival, it announced on Monday. What does this mean? Oil giants have been raking in the money for the past couple of years – and Chevron, with a $16 billion pile of cash at the end of last quarter, has channeled its inner spendthrift. The firm bagged PDC Energy in a deal worth $8 billion, overshooting the smaller company’s pre-deal value by over 10%. In the long run, that could turn out to be a bargain: this move will boost Chevron’s shale holdings in Colorado and West Texas, adding an estimated 10% to the firm’s [proven reserves](. And it’s expected to make Chevron’s cash register sing to the tune of an extra $1 billion a year too. Why should I care? The bigger picture: Oilfield minefield. With several other oil giants bathing in their own Scrooge McDuck-like pools of cash, the stage seems set for a full-blown takeover bonanza. In fact, McKinsey thinks that North America could witness up to $230 billion worth of oil and gas deals this year. And the Permian Basin – the biggest oilfield in the US – could serve as the prime hunting ground. That’s not necessarily good news for us regular folk, though: companies often secure drilling sites there for use down the line – so these acquisitions could limit supply in the meantime, boosting prices and squeezing consumers even tighter. For markets: The kiss of debt. If the International Energy Agency is right, then an oil shortage might [strike]( in the second half of this year – kickstarting a profit-producing fiesta for oil companies. But every party has a pooper (or something like that), and this time it’s the US debt ceiling. After all, the oil market can only get so hot with the prospect of defaulting (and in turn, a downturn) threatening to rain on its parade. You might also like: [BP sees the world accelerating away from fossil fuels.]( Copy to share story: [/shale-and-hearty]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Shale And Hearty&utm_campaign=daily-global-23-05-2023&utm_source=email) Analyst Take The Five Active ETF Strategies You Need To Know Now [The Five Active ETF Strategies You Need To Know Now]( By Theodora Lee Joseph, Analyst It’s been a great time for [actively managed ETFs](. These assets have surged in popularity, making up about [30% of total ETF investments]( this year. And it’s [not too hard to see why](: many of them have strategies that work well when markets are volatile, and combine the benefits of both active and passive investing. But there are [tons of different active ETFs]( out there, and it’s important to choose ones that line up with your goals. So, that’s today’s Insight: [five active ETF types worth paying attention to now.]( [Read or listen to the Insight here]( SPONSORED BY SWEATER Early-stage startup investment opportunities, no matter your experience level [Startup investing]( is risky business: the earlier you get in, the higher the reward – and the risk. You’re essentially betting on the founding team and its ability to fix a relevant problem. You’ll want to understand the [vision, opportunity, and market]( to evaluate whether the startup’s scalable. Venture capitalists need a keen eye and a lot of experience. They’re able to “feel out” [market trends]( instinctively, and draw on their knowledge of [what has and hasn’t worked before](. But turns out you don’t need to be a well-seasoned pro to scope out startups: by buying into [Sweater’s expert-curated VC fund](, you can invest in [diversified up-and-coming global startups](. So if you’re ready to [unlock the world of early-stage startup investing, you can get started with Sweater](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. Battlechip [Battlechip] What’s going on here? China [took]( a shot at Micron over the weekend, the latest skirmish in the US-China chip war. What does this mean? China’s had a chip on its shoulder ever since the US threw a wrench in its ability to source some of the world's most cutting-edge processors. And the fact that a bunch of other nations took a leaf out of America’s book – bringing in tough export controls of their own – has only fanned the flames of the Middle Kingdom’s ire. So it’s not exactly a shock the country’s seeking sweet revenge. After a seven-week investigation, the Cyberspace Administration of China announced that products made by Micron – the biggest memory-chip manufacturer in the US – pose serious security risks. That’s seen China take its first real step against an American chipmaker, banning operators of critical infrastructure from buying Micron’s products. Why should I care? Zooming in: The chip has sailed. Micron’s fortunes seem to hang on China’s definition of “critical information infrastructure” – but if the country’s buyers play it safe and ditch Micron en masse, this move could seriously hurt. After all, some estimates suggest that China and Hong Kong accounted for up to a quarter of Micron’s sales last year, so it’s no wonder its stock took a nosedive when the news broke. Still, it’s an ill wind that blows nobody any good, and this development probably has the firm’s rivals – like Samsung, SK Hynix, and the Chinese firm SMIC – rubbing their hands in glee. The bigger picture: Dreaming of détente. Newsflash, US chipmakers – you’re no longer guaranteed a warm welcome in the world’s biggest chip market. That read-my-lips statement from China will have fellow American titans like Broadcom and Intel hoping that Biden’s right: the president’s now [predicting]( a thaw in the two countries’ relations before long, after China’s alleged spy balloon saw them grow very frosty indeed in recent times. You might also like: [China’s shrinking population is creating a lot of opportunities for AI.]( Copy to share story: [/battlechip]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Battlechip&utm_campaign=daily-global-23-05-2023&utm_source=email) 💬 Quote of the day "Everyone thinks of changing the world, but nobody thinks of changing themselves." – Leo Tolstoy (a Russian writer) [Tweet this]( SPONSORED BY HARGREAVES LANSDOWN Women typically retire with less money than men: here’s how you can start bridging the gap Women in the UK retire with nearly £140,000 less in their pension pots than men on average. That’s a lot to do with the gender pay gap and societal pressure, and it’s a real problem: women tend to live longer than men, after all, so they should have more saved to see them through. Women can start closing the gap in a few ways: [upping pension pay-ins](, maximizing employer contributions, and requesting to join a workplace pension even if earning less than £10,000 a year. Another tactic that could help is to invest sooner rather than later – and if you’re looking for a simple way to start, [stocks and shares ISAs]( can be a tax-efficient way to get going. And if you’re keen to explore ISA investing, you can [check out different options and find the one for you with HL](. Remember investments can go up and down in value so you may not get back what you have invested. Important InformationThis is intended to provide information to help you make your own decisions. It is not personal advice. You should ask for financial advice if you aren’t sure of an investment’s suitability. Tax rules change and benefits depend on individual circumstances. [Find Out More]( When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🥳 Coming Up In The Next Week... All events in UK time. ✅ [Three Industries That Thrive In A Downturn](: 5pm, May 23rd 🚀 [A Guide To Prop Trading](: 5pm, May 25th 3️⃣ [Three Reasons To Invest In Crypto Right Now](: 5pm, 30th May 👀 And After That... 💥 [A Guide To Impact Investing 2.0](: 1pm, June 1st 🌎 [The ESG Revolution: Investing with Purpose](: 6pm, June 8th 🙋‍♀️ [Finimize Ladies Investing Club](: 6.30pm, July 13th 🎉 [Modern Investor Summit 2023](: 12pm, December 5th and 6th 🎯 On Our Radar 1. Out of left field. We humans prefer sounds that come from [the left-hand side](. 2. Cheery countries. Some nations seem [a little less blue]( than others. 3. Beached lions. Here’s why the kings of the jungle have [taken to seashores](. 4. The 4,500-year-old kiss. The [first-ever recorded smooch]( was in ancient Mesopotamia. 5. Move over, Photoshop. This ground-breaking research might help [revolutionize images]( for good. ❤️ Share with a friend Thanks for reading {NAME}. 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