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☆ Gold is shining ‘bright like a diamond’ and could hit $3,000, says Citi
▼ + stars: | 2024-04-16 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices continued to hover near record highs days after Middle East tensions flared, boosting the safe-haven appeal of bullion. Gold prices notched another record close Monday, with the most-active June contract for gold futures trading 0.37% higher to settle at $2,383 per ounce, and some say there's more room to run. "The recent gold rally has been aided by geopolitical heat and is coinciding with record equity index levels," Citi wrote in a note dated April 15. Market watchers are closely monitoring a potential retaliation by the Jewish state, which has vowed to "exact a price" from Iran.

Persons: Israel —, Bartosz, Conotoxia Organizations: Co, Citi, U.S . Locations: Bangkok, Thailand, East, Iran, Israel

☆ These 10 oil stocks are the most — and least — sensitive to price swings amid Iran-Israel tensions
▼ + stars: | 2024-04-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Crude oil prices have been volatile in April amid heightened geopolitical risks. Fears of a spillover conflict in the Middle East have led some market watchers to predict oil prices could soar to $100 per barrel and beyond . Any disruption in its capacity to supply global markets could send oil prices higher, analysts told CNBC. Oil and gas stocks that show a negative correlation with crude oil prices will enable investors to withstand any volatility while remaining invested in the sector. A correlation of 0 would mean no link between the crude oil price and the stock price.

Persons: Bartosz, Andy Lipow, — CNBC's Lee Ying Shan, Jenni Reid Organizations: Organization of, Petroleum, CNBC, Brent, Lipow Oil Associates, CNBC Pro, Energy Locations: Iran, Israel, Conotoxia, Hormuz, lockstep

☆ Bitcoin briefly slumps below $63,000 after topping a record $73,000 last week
▼ + stars: | 2024-03-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin extended its slide on Tuesday, dropping more than $10,000 from its all-time high last week. Last week, it climbed to a record $73,679. The token tied to Solana fell 8%, dogecoin lost 7% and XRP slipped 2%. Among crypto-related stocks, bitcoin proxy MicroStrategy tumbled 10%, while crypto exchange Coinbase fell 5%. Mining stocks were down across the board, with the biggest ones, Riot Platforms and Marathon Digital , lower by 6% and 5%, respectively.

Persons: Bitcoin, cryptocurrency, Bartosz Lipiński, dogecoin, XRP Organizations: Metrics, Solana Locations: bitcoins

☆ Merely winning has never been enough for Putin — and this year's presidential election is no different
▼ + stars: | 2024-03-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

There's little doubt Putin, 71, will win, even as the Ukraine war drags into its third year, analysts say. After all, his challengers — who were approved to run by the country's election commission — are far from his level of clout and influence. But for Putin, merely winning has never been enough — and 2024 looks no different. Putin needs to show that Russians really want him to leadFor Putin, it's not about winning. As Thomas Graham, a fellow at the Council on Foreign Relations, wrote on March 7, "Just winning has never been enough for Putin.

Persons: —, There's, Putin, it's, It's, Thomas Graham, David Szakonyi, Elvira Nabiullina, Nabiullina, they're, Vladimir Putin Organizations: Service, Business, International Monetary Fund, Council, Foreign Relations, George Washington University, Profit, Central Bank of Russia, Putin Locations: Ukraine, Russian, Policymaking, Russia, Polish

☆ Lawyers seek nearly $6 billion in Tesla stock after getting Musk pay package struck down
▼ + stars: | 2024-03-02 | by ( David Ingram | Lora Kolodny | ) www.cnbc.com time to read: +4 min

The lawyers had earlier convinced the Delaware chancery court to revoke Musk's $56 billion pay package from 2018, with the judge ruling that Tesla's board of directors failed to prove it was fair to shareholders. The lawyers represent former heavy metal drummer Richard Tornetta, who filed the suit on behalf of his fellow Tesla investors. The lawyers are asking for just over 11% of the Tesla shares that would have gone to Musk, or slightly more than 29.4 million shares. Taking their pay in Tesla shares demonstrates they are prepared to "eat our cooking," the lawyers wrote. Musk's pay package was the largest ever disclosed in corporate America, according to Delaware Chancery Court Judge Kathaleen McCormick's 200-page ruling.

Persons: Elon Musk, BARTOSZ SIEDLIK, Elon, paydays, Richard Tornetta, Greg Varallo, Bernstein Litowitz Berger, Grossmann ., Tesla, Kathaleen McCormick's, Musk Organizations: European Jewish Association, Getty Images, Enron, Musk's, Tesla, Grossmann, Musk Locations: Krakow, AFP, Delaware, New York, America, Texas

☆ Germany Attractive for Skilled Workers Despite Discrimination - OECD
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Germany is still an attractive destination for skilled workers from abroad, although migrants report racism and discrimination in everyday life, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday. Having tracked the careers of 30,000 highly qualified people who wanted to come to Germany as migrant workers since August 2022, their willingness to move to the country had increased rather than decreased over the time, the OECD said. Some 92% of participants in its poll lived abroad and were still interested in moving to Germany, it added. However, people who had already moved to Germany reported more discrimination than expected before the move. "Experiences of discrimination are reported, especially when looking for accommodation and in public," the OECD's Thomas Liebig said.

Persons: Thomas Liebig, Holger Hansen, Bartosz Dabrowski, Rachel More Organizations: Reuters, Organisation for Economic Cooperation, Development, OECD Locations: Germany

☆ VIEW Turkey central bank ramps up interest rates to 40%
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

A logo of Turkey's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. Below reaction from analysts to the decision:LIAM PEACH, CAPITAL ECONOMICS, LONDON"(Turkey's central bank) suggested that it is very close to the end of the tightening cycle. For the central bank to have any chance of achieving single digit inflation this decade, rates will need to stay at this level for some time." BARTOSZ SAWICKI, CONOTOXIA FINTECH, WARSAW"In October the annual inflation rate inched lower and external price dynamics have turned a tad more favourable. The risk of a sharp slowdown in activity points to less aggressive continuation of the tightening cycle.

Persons: Cagla, LIAM PEACH, CONOTOXIA, Karin Strohecker, Ezgi, Susan Fenton Organizations: Turkey's Central, REUTERS, Thomson Locations: Ankara, Turkey, CONOTOXIA FINTECH, WARSAW

☆ Anger in Poland after Legia Warsaw players arrested in Netherlands
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

WARSAW, Oct 6 (Reuters) - Dutch police have arrested two players from Polish soccer team Legia Warsaw following their Europa Conference League match against AZ Alkmaar, officials said, prompting an angry reaction in Poland. The players were pulled off the team coach and taken to a police station, public broadcaster TVP reported. Legia Warsaw fans had attacked the local police force before the match, knocking one officer in riot gear unconscious as they violently stormed the stadium's entry gate, police said in a statement. "Polish players and fans must be treated in accordance with the law. Legia spokesperson Bartosz Zaslawski was quoted by RMF as saying the team would return to Poland without Josue and Pankov.

Persons: Radovan Pankov, TVP, Josue, Dariusz Mioduski, RMF, Mateusz Morawiecki, Bartosz Zaslawski, Alan Charlish, Bart Meijer, Gareth Jones Organizations: Polish soccer, Legia Warsaw, Europa Conference League, AZ Alkmaar, Legia, Thomson Locations: WARSAW, Polish, Poland, Serbia, Portugal

☆ Catholic Church honors Polish family persecuted for sheltering Jews in unprecedented beatification
▼ + stars: | 2023-09-10 | by ( ) edition.cnn.com time to read: +4 min

CNN —The Catholic Church beatified on Sunday a Polish family of nine, including a new-born baby, who died at the hands of Nazi Germans during World War Two for sheltering a Jewish family from the Holocaust. Vatican media have noted that it is the first time that an entire family has been honored together in this manner. Speaking at the Vatican, Pope Francis described the Polish family as a “ray of light” in the darkness of World War Two and said they should serve as a model for others to follow. Polish President Andrzej Duda thanked the Catholic church for the beatification on behalf of the nation. Bartosz Siedlik/AFP/Getty ImagesHolocaustSome three million Jews who lived in pre-war Poland were murdered during the Nazi German Holocaust, accounting for about half of all Jews killed during World War Two.

Persons: Jozef, Wiktoria Ulma, Cardinal Marcello Semeraro, Pope Francis, God, …, fearlessly, Pope, Andrzej Duda, ”, Bartosz Siedlik, PiS, Patryk, Agencja Wyborcza.pl, Dariusz Libionka, Libionka, Jan Grabowski, Michael Schudrich Organizations: CNN, Catholic, Poland’s, Roman Catholic Church, Vatican, Getty, Law and Justice, Reuters, Polish Academy of Sciences, Poland’s Institute for National Locations: Nazi, Polish, Markowa, St Peter’s, AFP, Poland, Auschwitz, Treblinka, Belzec, Sobibor, St Peter's

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. REUTERS/Brendan McDermid/File PhotoAug 4 (Reuters) - Shares of Tupperware Brands (TUP.N) surged 44% on Friday, after the kitchen storage container maker finalized a debt restructuring deal as it attempts a turnaround of its business, reinvigorating retail investors' interest in the company. It was the seventh most traded stock by retail investors at 10:00 a.m. The share gains were reminiscent of eye watering "meme stocks" rallies, where retail investors coordinate on social media and typically focus their speculative bets on companies that were financially struggling or had high short interest. Tupperware was the second most actively traded single stock by retail traders over the past week, according to a J.P.Morgan note.

Persons: Brendan McDermid, Tupperware, Bartosz, stocktwits.com, Peter Earle, Medha Singh, Savyata Mishra, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Tupperware Brands, American Institute for Economic Research, American, Corp, Thomson Locations: New York City, U.S, Florida, Bengaluru

☆ Turkey's inflation rate cools despite steep lira plunge
▼ + stars: | 2023-07-05 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Turkey's monthly inflation rate for June came in lower than expected, despite the continued collapse of the lira currency following the re-election of President Recep Tayyip Erdogan. Turkey's consumer price index rose 3.92% month-on-month, official data showed Wednesday. On a year-on-year basis, inflation rose 38.21%, also slightly lower than Reuters' forecasts of 39.47%. "The lira freefall starts to take its toll once again as it reignites cost pressures," he said. Ash added that the central bank will need to "work very hard to bring inflation meaningfully down from here."

Persons: Recep Tayyip Erdogan, Bartosz Sawicki, Timothy Ash, Ash Organizations: Reuters, CNBC

☆ Taiwan Faces a #MeToo Wave, Set Off by a Netflix Hit
▼ + stars: | 2023-06-25 | by ( Amy Chang Chien | ) www.nytimes.com time to read: +2 min

In some ways, the #MeToo movement points to a generational shift in attitudes brought about by the hard-fought advances won by women’s rights activists in decades past. Taiwan’s younger generation started learning about gender equality in elementary school, as part of curriculum changes enacted in 2004, and have since come of age. Taiwan’s younger generation has “a higher awareness of gender diversity and equality than the older generation,” said Wei-Ting Yen, an assistant professor of government at Franklin and Marshall College in Pennsylvania. Women’s rights groups have called for Taiwan to extend the statute of limitations for sexual harassment complaints, currently at one year. A survey by Taiwan’s labor ministry last year showed that only a tiny percentage of female respondents who said they had encountered sexual harassment at work had filed complaints.

Persons: ”, Wei, Ting Yen, Lai Yu, Bartosz, Lai, gossiped, “, ” Ms Organizations: Franklin, Marshall College, Lawmakers, Facebook Locations: Pennsylvania, Taiwan, Polish

☆ Germany's Scholz publicly backs Biden over Trump for re-election
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, May 22 (Reuters) - German Chancellor Olaf Scholz on Monday said he prefers U.S. President Joe Biden to his predecessor, Donald Trump, and hoped Biden would be re-elected for a second term in office. Addressing pupils at a primary school close to Berlin, Scholz accused Trump of being divisive and that he would be bad not only for the United States but also for Germany. Responding to a pupil's question, Scholz said: "I think the current president is better, so I want him to be re-elected." Biden's many years of public service mean he knows exactly "what you have to do to prevent the world from going to war," Scholz said. Recent polls show Biden with an edge over potential Republican challengers Donald Trump and Ron DeSantis as the November 2024 U.S. presidential election draws closer.

☆ VW completes sale of Kaluga plant in Russia
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowBERLIN, May 19 (Reuters) - Volkswagen (VOWG_p.DE) has completed the sale of its Kaluga production plant in Russia and its local subsidiaries, the German carmaker said on Friday, ending months of wrangling with Russian authorities over the deal. Volkswagen has sold its shares in Volkswagen Group Rus LLC to Art-Finance LLC, which is supported by autodealer group Avilon, VW said in a statement. Volkswagen is pictured during the 63rd Annual General Meeting of Volkswagen AG in Berlin, Germany May 10, 2023. According to a source familiar with the matter, the deal is valued at 125 million euros ($138 million). Work at the plant in Kaluga, south of Moscow, has been furloughed since March 2022 due to Russia's invasion of Ukraine, which prompted Western countries to sanction Moscow leading to a breakdown in supply chains.

☆ German cabinet publishes draft legislation on new citizenship rules
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

May 19 (Reuters) - Germany's interior ministry published draft legislation aimed at making it easier for people to apply for citizenship, as Berlin seeks to boost migration and open up the job market in Europe's biggest economy. The draft proposes a multiple citizenship option and cuts the required residency years before naturalization down to five or three years from the previous eight. German language requirements for citizenship would also be eased for members of the so-called "Gastarbeiter" generation, many of them Turkish, who came to Germany in the 1950s and 60s as migrant workers. At the end of 2021, around 72.4 million people with German citizenship and around 10.7 million with foreign citizenship were living in Germany, of whom around 5.7 million had been in Germany for at least 10 years. "Anyone who does not share these values or even acts contrary to them may not become a German citizen," it says.

☆ Siemens Healthineers reports lower Q2 profit, discontinues heart surgery robots business
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - U.S.-German medical device maker Siemens Healthineers (SHLG.DE) on Wednesday said it is giving up part of billion-dollar acquisition Corindus' business as it reported a 30% drop in quarterly operating profit on lower contributions from COVID tests. Adjusted earnings before interest and taxes (EBIT) fell to 681 million euros ($750 million) in the January-March period, less than the 702 million expected by analysts, according to a consensus provided by the company. The group said it was discontinuing the robotic-assisted endovascular cardiology business in its Advanced Therapies segment and reported a 329-million euro writedown. Siemens Healthineers had acquired the business as part of the 1-billion-euro Corindus acquisition in 2019. This led to a 81% fall in quarterly net income, which came in at 108 million euros.

☆ Liechtenstein to allow payment for certain state services in Bitcoin - Handelsblatt
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Liechtenstein plans to allow Bitcoin payments for certain state services, Prime Minister Daniel Risch told the German business daily Handelsblatt in an interview. "A payment option with Bitcoin is coming," Risch said in the interview on Sunday, without giving a specific timeframe. Risch, who is also Liechtenstein's finance minister, said the country plans to accept deposits in Bitcoin and immediately exchange them for the Swiss franc, the national currency. The prime minister said there was no plan for any big risks with state money but added he was open to investing state reserves in Bitcoin in the future. The state's reserves, which are primarily invested in the capital market, currently amount to 2.23 billion Swiss francs, ($2.51 billion), Handelsblatt reported, citing the finance ministry.

BERLIN, May 8 (Reuters) - German industrial production fell more than expected in March, partly due to a weak performance by the automotive sector, spurring again recession fears in Europe's largest economy. Production decreased by 3.4% on the previous month following a slightly revised increase of 2.1% in February, the federal statistical office said on Monday. "After a buoyant performance by industrial production at the beginning of the year, there was an unexpectedly sharp decline in March," the economics ministry said. In the first quarter, production was 2.5% higher than in the last quarter of 2022, according to the statistics office. GDP was unchanged quarter on quarter in adjusted terms in the first quarter, following a 0.5% contraction in the fourth quarter of 2022.

April 13 (Reuters) - Swiss fragrance and flavour maker Givaudan (GIVN.S) on Thursday reported quarterly like-for-like sales slightly above expectations, with price rises helping to offset lower sales volumes in North America. Its first-quarter revenue rose 3.6% to 1.84 billion Swiss francs ($1.97 billion) on a like-for-like basis, beating the 1.80 billion francs expected by analysts in a poll compiled by the company. The sales growth was below Givaudan's mid-term target of between 4% and 5% on average, which it also reiterated. On a reported basis, sales fell 0.4% to 1.77 billion Swiss francs. Givaudan reported a 9.5% drop in like-for-like sales in North America, the only region to record a decline in the quarter.

☆ Givaudan's quarterly sales beat expectations
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

April 13 (Reuters) - Swiss fragrance and flavour maker Givaudan (GIVN.S) on Thursday reported quarterly like-for-like sales above expectations, saying it started the year with good business momentum while maintaining operations and global supply chain at a high level. Its first-quarter revenue rose 3.6% to 1.84 billion Swiss francs ($1.97 billion) on a like-for-like basis, compared with analysts' average forecast of 1.80 billion francs in a poll compiled by the company. The sales growth was below Givaudan's mid-term target of between 4% and 5% on average, which it also confirmed in the press release. On a reported basis, its sales fell 0.4% to 1.77 billion Swiss francs. Givaudan reported a 9.5% drop in like-for-like sales in North America, the only region to record a decline in the quarter.

☆ War of the worms: Polish politicians give each other a mouthful over edible insects
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

WARSAW, March 3 (Reuters) - Polish voters were given food for thought on Friday, as politicians from the two main parties traded accusations that the other side planned to push meat-loving citizens into eating worms ahead of elections this autumn. "For the upcoming elections, PO politicians should write on each poster 'Instead of chicken eat a worm', because this is their real election programme," PiS lawmaker Bartosz Kownacki told reporters. State-run broadcaster TVP Info accompanied Kownacki's press conference with a news ticker reading "The opposition's proposals for Poles: worms instead of meat". TVP Info has been regularly criticised by the opposition as being a mouthpiece for government propaganda. However, PO politicians and city hall officials say this does not mean proposals to force people to lower meat consumption and eat worms are under consideration.

☆ Raiffeisen stock slumps after U.S. sanctions authority asks about Russia business
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

Feb 20 (Reuters) - Shares in Raiffeisen Bank International fell more than 7% at the open on Monday after the Austrian Bank had said on Friday it had received a request for information from the United States' sanctions authority about its business related to Russia. Earlier in February, Raiffeisen reported it earned more than half of its 2022 profit from Russia, a market it is considering exiting after the country's invasion of Ukraine. RBI has operated in Russia since the collapse of the Soviet Union and is Russia's 10th-largest bank by assets. The bank's shares have fallen 19% since the start of the war in February last year. Reporting by Bartosz Dabrowski in Gdansk Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

Feb 7 (Reuters) - Germany's Linde (LIN.N), on Tuesday forecast higher earnings for 2023 and said it plans to invest $7-$9 billion over the next two-to-three years in clean energy projects to benefit from demand from companies seeking to cut emissions. Chief Executive Sanjiv Lamba said on a conference call that as part of that investment, Linde plans to spend $3 billion to convert 11 to 13 existing assets to clean hydrogen. The total investment opportunity for the German company in the United States alone could exceed $30 billion over the next decade, CEO Lamba said in late 2022. It reported fourth-quarter adjusted earnings of $3.16 per share, beating analysts' $2.91 per share estimate in a Refinitiv poll. Reporting by Bartosz Dabrowski and Andrey Sychev in Gdansk; Editing by Milla Nissi and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ Linde forecasts earnings growth in 2023 supported by hydrogen deals
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Linde (LIN.N), , the world's largest industrial gases company, forecast earnings growth for 2023 on Tuesday after better-than-expected fourth-quarter profit, boosted by clean hydrogen projects as companies seek to cut emissions. "We are well positioned to win more than our fair share of high-quality projects, primarily in clean-energy," Chief Executive Sanjiv Lamba said in an earnings statement. Linde has consistently beaten earnings estimates over the past two years, benefiting from growing hydrogen investments. The group forecast 9-12% growth in 2023 earnings per share excluding currency headwinds, also citing its balanced end-market portfolio, high network density and capital discipline. Reporting by Bartosz Dabrowski and Andrey Sychev in Gdansk; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Flavour maker Givaudan beats earnings forecasts in a tough year
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Swiss flavours and fragrances maker Givaudan is seen at its innovation center in Kemptthal, Switzerland January 10, 2020. REUTERS/Arnd Wiegmann/File PhotoJan 25 (Reuters) - Swiss fragrance and flavour maker Givaudan (GIVN.S) on Wednesday reported better-than-expected earnings for a year characterized by high input costs and supply chain disruptions. Sales increased by 5.3% on a like-for-like basis to 7.1 billion Swiss francs in 2022, while growing only 2.9% organically in the final quarter. Givaudan and Symrise are the runners-up behind IFF Inc (IFF.N) in the market share ranking for fragrances, flavours and ingredients for food and cosmetics. It confirmed its mid-term target of 4-5% average organic sales growth per year on a like-for-like basis.

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