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☆ ‘Mad Men’ star Christina Hendricks is married
▼ + stars: | 2024-04-21 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —Actor Christina Hendricks is a married woman. The “Mad Men” actor wed her partner of four years George Bianchini, a camera operator who works in the entertainment industry, on Saturday at the historic Napoleon House in New Orleans, according to People magazine. The southern locale is a special place for the couple, according to Hendricks, who told the outlet in an interview published on Sunday that New Orleans was a place both Hendricks and Bianchini each loved to visit before they met. Shirley Manson, the lead singer of the band Garbage and a close friend of Hendricks’, officiated the ceremony. I will love and care for him forever.”Hendricks was previously married to actor Geoffrey Arend for 10 years before announcing their separation in 2019.

Persons: Christina Hendricks, George Bianchini, Napoleon, Hendricks, Bianchini, ”, Matt Weiner, Christian Siriano, Mae Whitman, Katya Katya, Shirley Manson, Hendricks ’, ” Hendricks, Geoffrey Arend Organizations: CNN, Napoleon House, People Locations: New Orleans, Orleans

☆ Red Sea shipping crisis unlikely to lift inflation much, UBS says. Here's why
▼ + stars: | 2024-01-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Inflation is unlikely to rise much in the U.S. as a result of global shipping costs spiking due to militant attacks in the Red Sea, according to UBS. U.S. freight costs have soared 64% since mid-November when Houthi militants in Yemen began to target commercial vessels transiting the Red Sea, according to the bank. "The impact from shipping costs alone to inflation is likely very small," Kapteyn said. But Kapteyn said the Red Sea disruptions will have less of an effect than the supply chain disruptions that helped fuel inflation during the pandemic. The attacks in the Red Sea come as traffic is also restricted through the Panama Canal due to low water levels from a drought.

Persons: Arend Kapteyn, Kapteyn, Good Hope, Goldman Sachs Organizations: UBS, U.S, Daily, Shipping, JPMorgan, Macquarie, Wall Locations: U.S, Red, Yemen, Suez, Bab, Mandeb, Good, Africa, Panama, Iran, Macquarie, Persian, Hormuz, Strait

☆ Brazilian lender Itau launches crypto trading
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 4 (Reuters) - Brazilian bank Itau Unibanco (ITUB4.SA) on Monday launched a cryptocurrency trading service for clients of its investment platform, making the nation's largest lender the latest local player to enter the market for the digital asset's exchange. "It starts with bitcoin, but our overarching strategic plan is to expand to other crypto assets in the future," he said, adding any expansion would depend on how crypto regulation in the country evolved. Itau argues it will stand out from rivals as it also acts as a custodian, safeguarding users' assets, Antunes said. The move comes about a month after two local players announced they were leaving the crypto market. Brokerage and investments company XP (XP.O) did not say why it was shutting down its crypto service, but financial services firm PicPay, owned by conglomerate J&F which also controls meatpacker JBS (JBSS3.SA), cited regulatory uncertainties.

Persons: Guto Antunes, Itau, Antunes, meatpacker, Paula Arend Laier, Andre Romani, Kylie Madry, Chris Reese Organizations: SAO PAULO, Monday, Thomson Locations: bitcoin, Brazil

☆ US homebuyers are waiting for the Fed to start cutting interest rates. Here's when 10 experts say it's going to happen.
▼ + stars: | 2023-11-24 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Mortgage rates could decline if the Federal Reserve cuts interest rates next year. Here are 10 projections from experts on when the Fed's first rate cut will come. While these factors serve as deterrents for prospective buyers, interest rates may not stay this high forever. AdvertisementWhile declining interest rates wouldn't directly cause mortgage rates to fall, the two tend to move in the same direction. FebruaryIn August, Preston Caldwell, a Morningstar senior US economist, wrote in a note that he expected the Fed to start cutting interest rates in February.

Persons: —, Preston Caldwell, Arend Kapteyn, Bhanu Baweja, David Einhorn, Diane Swonk, Andrew Hollenhorst, Goldman Sachs, David Mericle, we'll, Simona Mocuta, Jeff Morton Organizations: Federal Reserve, Service, Federal, Morningstar, UBS, KPMG, Citi, Reuters, State Street Global Advisors, DWS Locations: North America's

☆ Now that inflation is slowing, here's when 10 experts think we'll see a recession
▼ + stars: | 2023-11-16 | by ( Jacob Zinkula | Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

High interest rates could slow consumer spending and lead to layoffs. Since March 2022, the Federal Reserve has hiked interest rates 10 consecutive times to fight inflation as the country emerged from its pandemic recovery. Here's how experts are feeling about the economy headed into the new year, and whether they think a recession is on the horizon. Some think a recession is likely in 2024Some experts predict high interest rates will take a toll on the economy, making a recession likely sometime next year. AdvertisementOthers think a recession is unlikely in 2024Other experts don't see a recession hitting the US economy in the next year.

Persons: —, Janet Yellen, Jerome Powell, he's, Ken Griffin, we're, Griffin, Arend Kapteyn, Bhanu Baweja, Marc Lasry, Lasry, Rob Arnott, Jeffrey Gundlach, Bill Adams, Raphael Bostic, Brian Moynihan, Goldman Sachs, Jan Hatzius, Goldman, Hatzius Organizations: Service, Federal Reserve, Bloomberg, Citadel, UBS, Capital, National Bureau of Economic Research, CNBC, DoubleLine, Comerica Bank, Atlanta Federal Reserve, UCLA, Bank of America, Reuters Locations: United States, Dallas, Atlanta

☆ U.S. economy could have 'a few negative quarters' next year, UBS' Arend Kapteyn says
▼ + stars: | 2023-11-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. economy could have 'a few negative quarters' next year, UBS' Arend Kapteyn saysArend Kapteyn, global chief economist of the UBS investment bank, discusses the likelihood of a recession in the U.S. and what this means for the Federal Reserve.

Persons: Arend Kapteyn Organizations: U.S, UBS, Federal Reserve Locations: U.S

☆ Recession will hit the US in 2024 – so get ready for massive interest-rate cuts, UBS says
▼ + stars: | 2023-11-14 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The Federal Reserve will slash interest rates by an eye-popping 275 basis points next year, according to UBS. UBS expects a mid-2024 recession to encourage the central bank to start easing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementThe US economy will slip into recession next year – and that'll lead to the Federal Reserve bringing in steep interest-rate cuts, according to one top European bank. The Fed's cuts would be "a response to the forecasted US recession in Q2-Q3 2024 and the ongoing slowdown in both headline and core inflation," UBS added.

Persons: That's, —, it's, Arend Kapteyn, Bhanu Baweja, UBS's, Jason Draho Organizations: Federal, UBS, Service, Federal Reserve, Fed

☆ UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession
▼ + stars: | 2023-11-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Meanwhile, the bank's economists suggested that "fewer of the supports for growth that enabled 2023 to overcome those obstacles will continue in 2024." Between March 2022 and July 2023, the FOMC enacted a run of 11 rate hikes to take the Fed funds rate from a target range of 0.25-0.5% to 5.25-5.5%. The bank believes this has renewed growth concerns and shows the economy is "not out of the woods yet." watch now"In our view, the private sector looks less insulated from the FOMC's rate hikes next year. Looking ahead, we expect substantially slower growth in 2024, a rising unemployment rate, and meaningful reductions in the federal funds rate, with the target range ending the year between 2.50% and 2.75%."

Persons: Jerome Powell, Evelyn Hockstein, Arend, You've, CNBC's Joumanna Organizations: Federal, Federal Reserve, Reuters UBS, U.S . Federal Reserve, UBS, Labor, CNBC, UBS European Conference Locations: Washington , U.S, U.S, Swiss, Europe

☆ A tennis center owner in Santa Monica changed his entire business to capitalize on the pickleball surge in America. It was a 'huge risk' but his revenue numbers have doubled and his court has never be
▼ + stars: | 2023-10-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +16 min

Former collegiate coach Jon Neeter bought a tennis center in Santa Monica, CA for $40,000 in 2010. He converted his single tennis court into four pickleball courts and business is booming. Plus, he liked the idea of his work being concentrated in one place, rather than scattered at various tennis courts all over LA. A standard pickleball court is 20 feet wide by 44 feet long, much smaller than a tennis court. Plus, he was unsure about how he was going to replicate the Santa Monica Tennis Center anywhere else in LA.

Persons: Jon Neeter, —, Neeter, Jon Arend, Arend, who's, he'd, Sam Querrey, didn't, I'd, they'd, He's, there's, he's Organizations: Service, beachy Santa, Santa, Duke University, Palisades Tennis Center, LA, Santa Monica Tennis Center, Santa Monica Pickleball Center, Neeter Locations: Santa Monica , CA, Wilshire, Los Angeles, LA, Santa Monica, New Jersey, California, West LA, Southern California, pickleball

☆ Why the producers of 'Queer Eye' and Peacock's 'Swedish Death Cleaning' show believe they're 'in a really good position' to ride out a Hollywood writers' strike
▼ + stars: | 2023-05-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

"Queer Eye" creator Scout Productions is betting its time is now, with a Hollywood writers' strike looming. It's working with Kristen Stewart on a "super-gay ghost hunting" reality series, as the star touted it on Instagram. It's also plotting a return to its scripted content roots. "They are very Scout shows in our storytelling process, but they're also shows that fit, that can be international, they can be domestic only. Joel Chiodi, head of documentaries and SVP of strategic development, contended that Scout's content "may not be broad, but we're enough in the mainstream, just pushing a little more."

☆ Brazil's BTG Pactual launches own dollar-backed stablecoin
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, April 4 (Reuters) - Brazil's BTG Pactual said on Tuesday it will launch a stablecoin priced in U.S. dollars at a parity of one to one, as it seeks to position itself in the digital assets market. The stablecoin, called BTG Dol, will be available on Mynt, the bank's crypto-asset platform, and through BTG Pactual's own investment system. A stablecoin is a type of cryptocurrency that is pegged to a stable asset as a way to reduce volatility. Now we have our own stablecoin," said Marcel Monteiro, Mynt's head of operations. Reporting by Paula Arend Laier; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Bolsonaro denies 'illegal acts' in bringing Saudi jewels to Brazil -report
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, March 4 (Reuters) - Brazil's former President Jair Bolsonaro on Saturday denied committing "illegal acts" after local media reported he tried to bring into his country jewelry that the Saudi government allegedly gifted to him and his wife, according to CNN Brasil. "I'm being accused of a gift I neither asked for nor received," CNN quoted the former far-right leader as saying in an interview. The Saudi embassy in Brazil did not immediately respond to a request for comment. He is expected to meet former U.S. President Donald Trump, his political idol, at the event. ($1 = 0.9406 euros)Reporting by Paula Arend Laier; Writing by Gabriel Araujo; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO, Jan 12 (Reuters) - Shares in Brazilian retailer Americanas SA (AMER3.SA) fell more than 75% on Thursday after its chief executive officer resigned citing the discovery of "accounting inconsistencies" totaling 20 billion reais ($3.9 billion). Rial attributed the inconsistencies to differences in accounting for the financial cost of bank loans and debt with suppliers. The outgoing CEO said Americanas would likely need a capital increase, though noted he didn't expect a short-term impact from the inconsistencies on its cash position. Analysts at Santander and JPMorgan, who rated Americanas "Neutral" and "Underweight" respectively, also forecast a major negative reaction to the news. PwC, Americanas' auditor, declined to comment on the accounting inconsistencies referred to by Rial.

☆ The Fed will start cutting rates this summer as core PCE inflation will drop to 2.1%, says UBS' global chief economist
▼ + stars: | 2023-01-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

The Fed could start cutting rates as early as this July, according to UBS. The Swiss bank's global chief economist said US core PCE inflation is likely to drop to 2.1% this year, calling for a Fed pivot. The Switzerland-based bank's global chief economist Arend Kapteyn said borrowing costs could start getting cut in July as key inflation measures show signs of cooling. Kapteyn bases the house view on cooling core PCE inflation data. "The difference between the Fed and us is that they think we end the year with a core PCE inflation rate of 3.5%.

☆ Brazil's currency, stock futures down after Bolsonaro supporters storm capital
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Jan 9 (Reuters) - Brazil's currency on Monday weakened roughly 1% against the dollar in early spot trading after supporters of former President Jair Bolsonaro stormed the country's capital a day earlier. Future contracts for the Bovespa benchmark stock index were down more than 1%, with the Sao Paulo stock market set to open at 10 a.m. (1300 GMT). (.BVSP)"Considering the enormous coverage the event got and the surprise we all had, markets should react negatively, but this should be short term," economists at JPMorgan said in a research note. "As day-to day government work resumes, attention should go back to the macro issues that have been top of mind." Reporting by Luana Maria Benedito, Paula Arend Laier and Gabriel Araujo Editing by Brad HaynesOur Standards: The Thomson Reuters Trust Principles.

☆ Incoming Petrobras CEO Prates rules out fuel price interventions
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

Jan 4 (Reuters) - The incoming chief executive of Brazil's oil company Petrobras (PETR4.SA) said on Wednesday there will be no interventions in fuel prices, and shares of the state-run firm rose. Jean Paul Prates, handpicked by President Luiz Inacio Lula da Silva to lead the company, told journalists he does not intend to unlink Petrobras' fuel prices from those of international markets, but "will unlink them from import parity." Without forcing, without imposing a tariff, with absolutely no direct intervention in the market," Prates explained. His remarks, which echoed comments he made after his appointment as CEO, boosted Petrobras' share price, said Reach Capital's investment head, Ricardo Campos. Reporting by Marta Nogueira and Paula Arend Laier; Writing by Peter Frontini; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Jailed for graft in 2018 - the year right-wing former President Jair Bolsonaro was elected - Lula's convictions were overturned in 2019, allowing him to oust Bolsonaro in October's election. The more ideological Lula who emerged from jail in 2019 should not be a cause for concern, friends and allies said. Lula's spokesman Jose Chrispiniano said the president supported fiscal responsibility and believes that strengthening the economy is the best way to combat poverty. "Good morning, President Lula," his devotees would chant as the day began, followed by "Good night, President Lula," as he went to bed. From his 15-square-meter cell on the third floor of the Federal Police headquarters in Curitiba, Lula set about reorganizing the PT and managing his legal defense.

☆ UBS says disinflation is on the way — and shares 8 global stocks to play it
▼ + stars: | 2022-11-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

After a year of double-digit inflation in many countries, UBS is now forecasting "sharp" disinflation in 2023. The bank screened for stocks it expects to be positively impacted in such an environment. The table below shows two stocks across four regions that UBS says will benefit the most from disinflation. British healthcare companies Genus and Hikma Pharmaceuticals ranked highly among the stocks UBS says will benefit from disinflation in the United Kingdom. "The negative payoff from getting our disinflation call wrong is large," strategists led by Arend Kapteyn warned.

☆ These 33 stocks will benefit the most as inflation finally starts to fall, according to UBS
▼ + stars: | 2022-11-12 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Both the economy and inflation are set to fall off a cliff, according to the top strategists at UBS. Inflation, which is finally starting to fall as the global economy softens, will drastically decline from here, according to UBS. Lower inflation will be a relief for many companies, but it will especially benefit those stocks in three sectors, according to UBS: communication services, healthcare, and information technology. Communication services and healthcare stocks have outperformed when inflation declines and have shown the least sensitivity to changes in price growth, Kapteyn wrote. 33 stocks that will benefit from lower inflationIn light of these predictions, UBS created a quantitative screen to determine which stocks would fare best as inflation drops.

☆ The S&P 500 could plunge another 16% and won't bottom until the Fed starts to cut interest rates, UBS says
▼ + stars: | 2022-11-08 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The S&P 500 will fall to 3,200 points before it hits a low in Q2 next year, UBS has forecast. US stocks won't recover until the Federal Reserve starts cutting interest rates, the bank said. "The speed of that pivot will drive every asset class next year," UBS strategists said Monday. The S&P 500 would have to fall 15.9% from its Monday close at 3,806 to reach that low level. Expectations of a Fed pivot could lift the S&P 500 to 3,900 points — a 2.4% gain from its close Monday – by the end of 2023, according to UBS.

☆ UBS says the lows are not in, S&P 500 to fall to 3,200
▼ + stars: | 2022-11-07 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

This all could give way to a disinflationary environment in which rates are falling, leading to a market bottom and paving the way for a disinflationary environment. That will lift the S & P 500 to 3,900 by the end of 2023, Kapteyn said. Health care and communication services usually perform better than other sectors during declining inflation periods and feel less impact from changes to inflation, he said. With these themes in mind, UBS made a list of U.S. stocks that will be most positively impacted by declining inflation. Currencies and commodities are also expected to move in response to the period of declining inflation.

Financial markets have largely priced in a Lula victory, but the uncertainty about a contested result has some on edge. "There is apprehension about whether the election result will be respected," said J.P. Morgan equity strategist Emy Shayo. The TSE rejected the complaint in a Wednesday ruling due to lack of evidence and asked Brazil's top prosecutor to investigate the Bolsonaro campaign for possible intent to disrupt the election. Another son, Congressman Eduardo Bolsonaro, told journalists that to address the issue properly might require postponing the election. Senior Bolsonaro campaign officials have said publicly that a postponement of the election is not up for discussion.

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