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☆ UBS earnings: Numbers 'heavily influenced' by integration of Credit Suisse, analyst says
▼ + stars: | 2024-05-07 | 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 EmailUBS earnings: Numbers 'heavily influenced' by integration of Credit Suisse, analyst saysJohann Scholtz of Morningstar discusses UBS' first-quarter results, and says its integration of Credit Suisse makes it "tricky" to compare numbers across periods.

Persons: Johann Scholtz, Morningstar Organizations: UBS, Credit Suisse

Has South Africa Truly Defeated Apartheid? U.S.A., 2020 – 63% U.K., 2019 – 62% 60% 49% 40% 20% 1994 2004 2014 2019 Sources: Collette Schulz-Herzenberg, "The South African non-voter: An analysis"; Konrad Adenaur Stiftung, 2020 (South Africa); Pew Research (United States and U.K.)On a continent where coups, autocrats and flawed elections have become common, South Africa is a widely admired exception. −4% −6% Sources: Harvard Growth Lab analysis of World Economic Outlook (South Africa and sub-Saharan Africa) and World Development Indicators (upper-middle-income countries). 50% unemployment rate 40% Black unemployment rate 30% The unemployment gap between Black and white South Africans remains wide. In 2022, about 6 percent of South Africans aged 18 to 29 were enrolled in higher education, according to Statistics South Africa.

Persons: Nelson Mandela, they’ve, Collette Schulz, Konrad Adenaur Stiftung, —, Walter Sisulu, Joao Silva, New York Times Jack Martins, ”, Mandela’s, Wandile Sihlobo, Johann Kirsten, Sihlobo, Kirsten, haven’t, Zinhle Nene, Peter Mokoena, “, Mokoena, Nokuthula Mabe, Mabe, Jacob Zuma, Chrispin Phiri, Cyril Ramaphosa, Israel, Sibusiso Zikode, Zikode, Mr Organizations: African National Congress, Pew Research, Human Sciences Research, World Bank, Black South, Charter, New York Times, University of Cape Town’s Liberty Institute of Strategic Marketing, Johannesburg Stock Exchange, Economic Empowerment, South, Harvard, Economic, Government, Black, Mr, Stellenbosch University . White, Statistics, Security, JOHANNESBURG Jobs, JOHANNESBURG Sandton Downtown, West University, Education, Statistics South, General Household Survey, of, Stellenbosch University, Ministry of Justice and Correctional Services, Institute for Security Studies, International Court of Justice Locations: Africa, South Africa, Black, States, Soweto, Kliptown, Johannesburg, South, Saharan Africa, Carletonville, JOHANNESBURG, Downtown Soweto, JOHANNESBURG Sandton, JOHANNESBURG Sandton Downtown Soweto, North, Mahikeng, Botswana, Statistics South Africa, Brazil, Mexico, Philippines, African, Germany, Russia, India, China, Ethiopia, Burundi, Zimbabwe, Ukraine, New York Times South Africa, Gaza, Durban, South Africa’s

☆ Bird flu could jump to humans any day. A former surgeon general says it feels like 2020 again.
▼ + stars: | 2024-04-25 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

In recent months the highly pathogenic H5N1 virus has been spreading through US cattle herds for the first time ever. The cow-to-cow transmission is the latest escalation in a global outbreak that began when the virus reemerged in Europe in 2020. Bill Powers with his flock of white turkeys, kept under shelter to prevent exposure to bird flu, in Townsend, Delaware. Nathan Howard/Getty ImagesDr. Jerome Adams, a former surgeon general and the director of health equity at Purdue University, is getting deja vu. AdvertisementOnly testing the sickSo far, the USDA has only been testing cattle herds when an animal appears sick.

Persons: —, Jeremy Farrar, Nathan Frandino, Farrar, Bill Powers, Nathan Howard, Jerome Adams, they've, Adams, Donald Trump, hasn't, Terry Chea, they're, Zeynep Tufekci, Jean Carroll, Alexi J . Rosenfeld, President Trump, Trump, Biden Organizations: Service, Business, World Health Organization, Washington Post, Food and Drug Administration, New York Times, FDA, Johann, Reuters, US Centers for Disease Control, Purdue University, CDC, US Department of Agriculture, White, USDA Locations: Europe, South America, Fresno , California, Texas, Townsend , Delaware, COVID, Sonoma County , California

☆ Bird flu particles were found in pasteurized milk. A former surgeon general says he isn't changing what he eats.
▼ + stars: | 2024-04-25 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

So far, though, many public health experts don't think this rings alarm bells about the safety of the food supply. Nathan Frandino/ReutersThe FDA oversees the nation's milk supply, and the US Department of Agriculture oversees dairy cows. Both say they believe the commercial milk supply is safe, due to the pasteurization process and the practice of disposing of milk from sick cows. Some states allow the sale of unpasteurized, aka "raw," milk or cheese, which the CDC recommends avoiding. "To date, we have seen nothing that would change our assessment that the commercial milk supply is safe.

Persons: —, Dr, Jerome Adams, Trump, Pasteurization, Nathan Frandino, Carlos Barria, Adams, Samuel Alcaine, Cook, who's, I'm Organizations: Service, Drug Administration, Business, Purdue University, Johann, FDA, US Department of Agriculture, Washington Post, The New York Times, Mountain Creamery, Cornell University, CDC, Workers Locations: Fresno , California, Middletown , Maryland

☆ A new documentary wrestles with the highlights — and lowlights — of John Galliano’s controversial career
▼ + stars: | 2024-03-12 | by ( Trey Taylor | ) edition.cnn.com time to read: +9 min

CNN —After a first intervention for the fashion house’s seismic creative director John Galliano failed, Dior’s then-CEO Sidney Toledano staged a second, more serious one. In response, as Toledano recounts in the new documentary “High & Low: John Galliano,” the then-50-year-old gym-obsessive ripped open his shirt to reveal a rippling torso and said, “Does this look like the body of an alcoholic?”And so the designer’s drinking and pill-popping rolled on. At least, “High & Low” director Kevin Macdonald, whose documentary performs a thrilling autopsy of Galliano’s career collapse, thinks so. Nicholas MatthewsUnraveling threadsAs its title suggests, “High & Low” scrutinizes the designer’s extraordinary rise and dramatic flameout. John Galliano, pictured at his home in Beauvais, France.

Persons: John Galliano, Dior’s, Sidney Toledano, Galliano, Dior, Bernard Arnault, Arnault, Toledano, ”, Perle, Hitler, ” John Galliano, France —, Dominique Charriau, decamped, Low, Kevin Macdonald, I’d, ” Macdonald, “, ’, Macdonald, Anna Wintour — Galliano’s, —, Wintour, ’ ” Macdonald, shouldn’t, I’m, John —, Nicholas Matthews Galliano, Nicholas Matthews, ” Johann Brun, John, “ John, ” Galliano, John Galliano’s, Derek Hudson, He’s, you’d, John then, Tim Blanks, Cecil B, DeMille, Kate Moss, Jamie Hince, Oscar de la, Maison, Pat McGrath, Galliano’s, it’s Organizations: CNN, Paris Fashion, Couture, Rodin, Dior, Hulton Locations: Paris, France, Scottish, Couture, Beauvais

NEW YORK (AP) — Andrea Götsch was surprised when she won her audition in 2019 that led to membership in the Vienna Philharmonic. I thought that was too far away.”A male bastion from its founding in 1842 until 1997, the Vienna Philharmonic now has 24 female players among 145 members with three vacancies as it tours the United States this week. And we want the best members, so it was the right decision.”Based since 1870 at Vienna’s Musikverein, the Vienna Philharmonic elects leadership, engages conductors, chooses programs and schedules tours and recording sessions. It selects members from the Vienna State Opera Orchestra and has had a summer residency at the Salzburg Festival since 1922. A year later, she was confirmed for the Opera Orchestra and in 2022 she became a VPO member.

Persons: — Andrea Götsch, ”, “, It’s, Daniel Froschauer, Vienna’s Musikverein, Anna Lelkes, Albena Danailova, Franz Welser, Madeleine Carruzzo, York Philharmonic’s, Stephanie “ Steffy ” Goldner, Helen Kotas, Froschauer, Anneleen Lenaerts, Xavier de Maistre, Michael Bladerer, Strauss ’, Arabella ”, ” Lenaerts, ” Götsch, Johann Hindler, Verdi’s “, Daniel Harding, Götsch Organizations: Vienna Philharmonic, Associated Press, Vienna State Opera Orchestra, Salzburg Festival, Philharmonic, Carnegie Hall, Berlin Philharmonic, York, Chicago Symphony Orchestra, State Opera Orchestra, Mahler, of, State Opera, VPO, Opera Orchestra Locations: Vienna, United States, Vienna’s, Swiss, Brussels, Bolzano, Italy, Mahler’s

Birkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited from higher pricing and rising U.S. demand. Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose 12% year-on-year to 81 million euros, with an adjusted EBITDA margin of 26.9%, down from 29.1% a year earlier. "However, in the medium-term, we are confident we will continue to deliver our objectives of a gross profit margin over 60% and an adjusted EBITDA margin in the low thirties percent." Within a few years, its sales nearly doubled and its market cap is now around $9.7 billion, double its 2021 valuation of $4.85 billion. Since going public, Birkenstock has used some of its proceeds to pay down debt.

Persons: Oliver Reichert, Reichert, Armour, Birkenstock, Johann Adam Birkenstock Organizations: LSEG, New York Stock Exchange, Nike, Catterton Locations: North America, Birkenstock

☆ Electric air transport is set to take off with taxis, ambulances, cargo deliveries by end of this decade
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

A model of a Wisk Aero LLC electric vertical takeoff and landing (eVTOL) air taxi during the Singapore Airshow in Singapore, on Wednesday, Feb. 21, 2024. Bloomberg | Bloomberg | Getty ImagesSINGAPORE — Among displays of defense jets, passenger airliners and high-tech aviation equipment at the Singapore Airshow were electric air transport vehicles — touted as the future of urban transportation. Electric vertical take-off and landing vehicles, or eVTOLs, which can land and take off vertically can be used as air taxis, for cargo delivery, medical and emergency response transportation and as private vehicles. A vertical takeoff electronic aircraft from Supernal is seen outside the Las Vegas Convention Center during the Consumer Electronics Show in Las Vegas, Nevada on Jan. 10, 2024. A cabin of an electric vertical take-off and landing (eVTOL) aircraft developed by Eve Air mobility displayed during the International Paris Air Show on June 20, 2023.

Persons: eVTOLs, Brendan Smialowski, Johann Bordais, Eve, Jaiwon Shin, Shin, Supernal's, Tencent, Catherine MacGowan, Wisk, MacGowan, Supernal's Shin, Geoffroy Van Der Organizations: Aero, Bloomberg, Getty, Singapore Airshow, CNBC, Hyundai Motor Group, Boeing, Embraer, Air Mobility, Las Vegas Convention, Consumer, Afp, Mobility, Singapore, Asia Companies, Olympic, Japan Airlines, Korea's, Korean Air, Supernal, Incheon International Airport, Eve, International Paris Air Locations: Singapore, SINGAPORE, Supernal, Las Vegas , Nevada, Asia, U.S, Brisbane, Australia, Japan, Asia —, South Korea, Korea, Incheon, South, Geoffroy Van Der Hasselt

☆ Eve Air Mobility CEO says its new product is 'another way to travel'
▼ + stars: | 2024-02-21 | 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 EmailEve Air Mobility CEO says its new product is 'another way to travel'Johann Bordais, CEO of Eve Air Mobility, discusses its eVTOL (electric vertical take-off and landing) aircraft.

Persons: Johann Bordais Organizations: Mobility

☆ Birkenstock shares slump as shoe company warns on profit outlook during first earnings since IPO
▼ + stars: | 2024-01-18 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +1 min

A Birkenstock banner hangs outside the New York Stock Exchange in New York on Oct. 11, 2023, as Birkenstock launches an initial public offering. Birkenstock shares slumped 7% Thursday after the company warned about its 2024 outlook during its first earnings report since its initial public offering. In its earnings report, Birkenstock said it aims to substantially grow and invest nearly 150 million euros in retail store expansion and production capacity in 2024. Reichert said he plans to tap into "significant" geographic and production expansion while the company remains "undeterred" by the broader macroeconomic landscape. The debut came nearly 250 years after the company was founded by German cobbler Johann Adam Birkenstock.

Persons: Birkenstock, Oliver Reichert, Reichert, Johann Adam Birkenstock Organizations: New York Stock Exchange, Company, CNBC PRO Locations: New York

☆ Artificial Intelligence Needs Open-Source Models to Reach Its Potential
▼ + stars: | 2023-11-30 | by ( Kai-Fu Lee | ) www.wsj.com time to read: 1 min

Photo: Getty Images/iStockphotoJohannes Gutenberg ’s printing press revolutionized life in the 15th century, making it possible for ideas to travel around the world at previously unimaginable speeds and creating huge gains for mankind. Gutenberg tried to keep his technique a secret, but a disgruntled former investor, Johann Fust , soon replicated his device. Fust launched his own press and poached Gutenberg’s top techie, Peter Schoeffer . Imagine if the printing press had been kept secret and controlled by one company, or confined within one nation. It’s an imperfect analogy, but it offers a useful way to frame the current debate around artificial intelligence.

Persons: Johannes Gutenberg ’, Gutenberg, Johann Fust, Fust, Peter Schoeffer

☆ Richemont digital strategy goes back to square one
▼ + stars: | 2023-11-29 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Acquire Licensing RightsMILAN, Nov 29 (Reuters Breakingviews) - Johann Rupert’s digital strategy may be heading back to the drawing board. But even if Rupert can extricate himself from the Farfetch situation, Richemont’s digital plans will still be unclear. In August 2022 Richemont agreed to sell a 47.5% stake in its digital platform, Yoox Net-A-Porter, to Farfetch. Shares in Richemont were up 1.5% by 1100 GMT on Nov. 29.

Persons: Denis Balibouse, Johann Rupert’s, Porter, Cartier, Rupert, Farfetch, José Neves, Richemont, Financiere Richemont, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, The Telegraph, Financiere, Telegraph, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, U.S, YNAP, New York, Richemont

NEW YORK (AP) — It's been quite a week for ChatGPT-maker OpenAI — and co-founder Sam Altman. And as he became Silicon Valley’s most sought-after voice on the promise and potential dangers of this technology, Altman helped transform OpenAI into a world-renowned startup. WHAT IS GENERATIVE AI? Unlike traditional AI, which processes data and completes tasks using predetermined rules, generative AI (including chatbots like ChatGPT) can create something new. Meanwhile, in the U.S., President Joe Biden signed an ambitious executive order last month seeking to balance the needs of cutting-edge technology companies with national security and consumer rights.

Persons: — It's, OpenAI —, Sam Altman, Altman, what's, —, Greg Brockman, Brockman, “, OpenAI, ”, Johann Laux, Enza Iannopollo, Forrester, Iannopollo, they’ve, Chatbots, Joe Biden Organizations: OpenAI, WHO, ALTMAN, Microsoft, Twitter, Oxford Internet, Tech, European Union Locations: San Francisco, Brussels, U.S

☆ Austria's RBI: realized extra 150 mln euros of property sector risk provisions
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

The logo of Raiffeisen Bank International (RBI) is seen at its headquarters in Vienna, Austria, March 14, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA, Nov 21 (Reuters) - Raiffeisen Bank International (RBI) (RBIV.VI) has realized additional forward-looking risk provisions of around 150 million euros ($163 million) for the real estate sector, the Austrian bank's risk chief, Hannes Moesenbacher, said on Tuesday. Chief Executive Johann Strobl added that these provisions are "on top" and therefore go beyond what can be modelled. "In total, our top five commitments in the real estate sector amount to 2.2 billion euros," said Moesenbacher, who added that number one position amounted to 755 million euros. At its general meeting in March, RBI had decided not to distribute a dividend for the time being due to uncertainties.

Persons: Leonhard Foeger, Hannes Moesenbacher, Johann Strobl, Moesenbacher, Rene Benko, Strobl, Alexandra Schwarz, Miranda Murray, David Evans Organizations: Raiffeisen Bank, REUTERS, Rights, Signa Group, RBI, Thomson Locations: Vienna, Austria, Austrian, Russia

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Following the data, yields on short-term UK Gilts, reflecting near-term interest rate expectations, slid, aiding a 7.0% surge in rate sensitive real estate investment trusts (.FTNMX351020). "It may well be due to potential sentiment coming ahead of tomorrow's UK CPI data, with the hope that it comes in lower as well," said Christopher Peters, trading floor manager at Accendo Markets. UK October CPI data, due on Wednesday, could throw further light on the outlook for domestic monetary policy. Reporting by Khushi Singh and Johan M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Christopher Peters, Jefferies, Tim Clark, Khushi Singh, Johan M Cherian, Sherry Jacob, Phillips, Alex Richardson Organizations: London Stock Exchange Group, City of, REUTERS, Vodafone, Federal, tomorrow's, Accendo Markets, Investors, Entain, Royce, Emirates, Thomson Locations: City, City of London, Britain, Teck, U.S, Italy, Bengaluru

☆ Cartier owner Richemont sees growth easing as economic worries rise
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

Richemont's constant currency sales growth eased from a 19% rate in the April to June period to a 5% rate in the following three months. The company posted a profit of 1.51 billion euros, worse than the 2.17 billion euros forecast by analysts in a consensus cited by Zuercher Kantonalbank. "Growth eased in the second quarter as inflationary pressure, slowing economic growth and geopolitical tensions began to affect customer sentiment, compounded by strong comparatives," said Chairman Johann Rupert in a statement. "Consequently, we have seen a broad-based normalisation of market growth expectations across the industry." While jewellery - traditionally more resilient to economic swings - continued to shine with constant currency sales up 9%, watch sales fell 4%.

Persons: Regis, Cartier, Vacheron Constantin, LVMH, Zuercher Kantonalbank, Johann Rupert, Kepler, Jon Cox, John Revill, Mimosa, Miranda Murray, Shri Navaratnam, Tomasz Janowski Organizations: Cartier, Vendome, REUTERS, Rights, IWC, Thomson Locations: Paris, France, Swiss, United States, Europe, China

☆ Richemont brands 'satisfied' with Farfetch technology
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsPARIS, Nov 10 (Reuters) - Richemont (CFR.S) labels are moving ahead with the transfer of their online businesses to Farfetch (FTCH.N) technology, which they are satisfied with, executives at the Swiss-based group said Friday. The adoption of Farfetch technology to run the online business of Richemont labels is part of a wider agreement for Richemont to sell a 47.5% stake in YNAP in exchange for more than 50 million Farfetch shares, announced in August 2022. "Everything we expected in terms of technology from our Farfetch friends, they've delivered," Richemont chairman Johann Rupert told analysts on an earnings call. Farfetch shares have fallen by more than 60% in the past six months.

Persons: Denis Balibouse, Richemont, they've, Johann Rupert, Bernstein, Mimosa Spencer, Kirsten Donovan Organizations: REUTERS, Rights, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, Richemont's, U.S, YNAP, Farfetch

☆ Pramac's Martin smashes lap record to grab pole at Thailand Grand Prix
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +1 min

Oct 28 (Reuters) - Title-challenger Jorge Martin of Pramac Racing secured his third pole position of the season at the Thailand Grand Prix by setting a lap record on Saturday, with VR46 Racing's Luca Marini and Aprilia's Aleix Espargaro joining him on the front row. I am strong, and this is the most important thing," the 25-year-old Martin said after his performance, including the record 1 minute 29.287 second lap. "I did not expect to do 29.2, I think that is a very good lap... The Marquez brothers, Marc Marquez and Alex Marquez topped Q1, with the Gresini Racing rider coming ahead of the six-time MotoGP champion, who also has the most wins at Buriram. Alex Marquez managed to finish seventh and Marc Marquez eighth in the final session.

Persons: Jorge Martin, VR46 Racing's Luca Marini, Aprilia's, Espargaro, Francesco Bagnaia, Martin, Marco Bezzecchi, Brad Binder, Marquez, Marc Marquez, Alex Marquez, Maverick, Fabio Quartararo, Johann Zarco, Augusto Fernandez, Quartararo, Pearl Josephine Nazare, William Mallard Organizations: Pramac Racing, VR46, Chang, Circuit, Buriram, Aprilia, Thomson Locations: Thailand, French, Bengaluru

☆ An American soldier stole a 300-year-old painting during World War II. It made an unusual journey back to Germany.
▼ + stars: | 2023-10-20 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +3 min

A stolen painting was returned to Germany after going missing for over 78 years. Someone had previously tried to sell the painting in the Chicago art market in 2011. AdvertisementAdvertisementA stolen painting belonging to Germany made an unusual journey home on Thursday after going missing for over 78 years, according to the Federal Bureau of Investigation. AdvertisementAdvertisementAlte Pinakothek and researchers at Art Recovery International verified the painting as being Lauterer's original artwork in 2022, Marinello told Insider. It's not the first time a stolen painting has been recovered from US soldiers who served in World War II.

Persons: —, Johann Franz Nepomuk Lauterer, Christopher Marinello, Marinello, Lauterer, It's Organizations: FBI, Service, Federal Bureau of Investigation, Art, International, Chicago, Alte Locations: Germany, Chicago, Bavarian, Munich, Vienna, Italy, Dessau

CHICAGO (AP) — After a stopover in the U.S. that lasted the better part of a century, a baroque landscape painting that went missing during World War II was returned to Germany on Thursday. Art Recovery International, a company focused on locating and recovering stolen and looted art, tracked down the elusive painting after a person in Chicago reached out last year claiming to possess a “stolen or looted painting” that their uncle brought back to the U.S. after serving in World War II. The painting has been missing since 1945 and was first reported stolen from the Bavarian State Painting Collections in Munich, Germany. It was added to the database of the German Lost Art Foundation in 2012, according to a statement from the art recovery company. “The crux of our work at Art Recovery International is the research and restitution of artworks looted by Nazis and discovered in public or private collections.

Persons: Johann Franz Nepomuk Lauterer, Christopher Marinello, Marinello, “, ” Marinello, ”, Bernd Ebert, ” Ebert, Lauterer, Ebert, ___ Savage Organizations: CHICAGO, FBI, Consulate, Recovery, Bavarian, Painting, Lost Art Foundation, Art Recovery, Chicago, Team, Alte, Associated Press, America Statehouse News Initiative, America Locations: U.S, Germany, Chicago, Munich, Vienna, Bavarian

☆ Bagnaia wins Indonesia GP as Martin throws away championship lead
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +3 min

[1/5] Ducati Lenovo's Francesco Bagnaia celebrates after winning the MotoGP race at the Mandalika International Street Circuit in Kuta, Lombok, Indonesia, October 15, 2023. Antara Foto/Wahyu Putro A via REUTERS Acquire Licensing RightsMANDALIKA, Indonesia, Oct 15 (Reuters) - Ducati's Francesco Bagnaia battled heroically from 13th on the grid to win a thrilling Indonesia Grand Prix in Mandalika on Sunday, as he reclaimed the lead in the riders' championship after Jorge Martin crashed out. Bagnaia crossed the line 0.306 seconds ahead of Aprilia's Maverick Vinales in second, while Yamaha's Fabio Quartararo, the 2021 world champion, finished third. Champion Bagnaia is back on top of the riders' standings with 346 points, with Martin (328) in second and VR46 Racing's Marco Bezzecchi (283) in third. After Martin crashed, Vinales was briefly in the lead but Bagnaia kept up his aggressive riding, slowly and steadily gaining ground on the Aprilia rider before blowing past him in the 20th lap.

Persons: Ducati, Francesco Bagnaia, Antara, Jorge Martin, Bagnaia, Aprilia's, Vinales, Yamaha's Fabio Quartararo, Martin, Marco Bezzecchi, Pramac Racing's Martin, Pramac, Johann Zarco, Pecco, it's, Quartararo, Gresini's Fabio Di Giannantonio, Red Bull, Brad Binder, Jack Miller, Luca Marini, Binder, Marc Marquez, Aadi Nair, Muralikumar Organizations: MotoGP, Circuit, REUTERS Acquire, Aprilia, Red, Red Bull KTM, Gresini Racing, Thomson Locations: Kuta, Lombok, Indonesia, Mandalika, Bengaluru

After the data, the S&P 500 spent the morning zig-zagging between red and green. U.S. benchmark 10-year yields rose after the inflation data and rose further to hit a session high after the auction. The rise in yields particularly pressured rate-sensitive sectors such as utilities (.SPLRCU) and real estate (.SPLRCR), often viewed as bond proxies. Homebuilding stocks fell after the data and came under more pressure after the afternoon increase in bond yields. Traders now expect a stronger chance the Fed will end up delivering another interest-rate hike this year, and keep rates higher for longer next year.

Persons: Brendan McDermid, Treasuries, Michael James, James, Susan Collins, Israel, Sinéad Carew, Amruta, Shashwat Chauhan, Ankika Biswas, Johann M Cherian, Arun Koyyur, Shounak Dasgupta, Maju Samuel, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, U.S, Treasury, Wedbush Securities, Nasdaq, Dow Jones, Traders, Boston, Market, JPMorgan Chase, Citigroup, Ford, United Auto Workers, UAW, Thomson Locations: New York City, U.S, Los Angeles, Gaza, Wells Fargo, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The Labor Department report showed U.S. consumer prices rose 0.4% in September versus estimates of a 0.3% rise, according to economists polled by Reuters. Prices rose to 3.7% against estimates of 3.6% in the 12 months through September. Core CPI, which excludes volatile food and energy prices, rose 0.3% in line with estimates. Reuters GraphicsAnother set of data showed jobless claims rose 209,000 for the week ended Oct. 7, lower than an estimated 210,000 rise.

Persons: Brendan McDermid, Israel, Hogan, Riley, Susan Collins, Atlanta's Raphael Bostic, Kan, advancers, Shashwat Chauhan, Ankika Biswas, Johann M Cherian, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Labor Department, Reuters, CPI, Traders, Federal, Boston, Public, Dow Jones, NYSE, Thomson Locations: New York City, U.S, Gaza, Bengaluru

☆ Birkenstock slides more than 12% in stock market debut after opening at $41 per share
▼ + stars: | 2023-10-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

A Birkenstock banner hangs outside the New York Stock Exchange (NYSE) in New York on October 11, 2023, as Birkenstock launches an Initial Public Offering (IPO). Shares of Birkenstock slid more than 12% in their debut on the New York Stock Exchange on Wednesday. The German shoe brand's stock closed at $40.20 per share, down from its opening trade of $41 per share, giving it a market value of $7.55 billion. The stock's opening price came in lower than its initial price of $46 set Tuesday, which was just shy of the midpoint of its expected range of $44 to $49 per share. The company's market debut comes nearly 250 years after it was founded by German cobbler Johann Adam Birkenstock.

Persons: Birkenstock, Johann Adam Birkenstock, Oliver Reichert, Reichert Organizations: New York Stock Exchange, Catterton Locations: New York

NEW YORK (AP) — Birkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day. The 249-year-old German maker of upmarket sandals set a price of $46 per share for its initial public offering of stock, valuing the company at $8.64 billion. Birkenstock is due to start trading Wednesday on the New York Stock Exchange under the “BIRK” ticker symbol. Birkenstock Holding Ltd. sold about 10.8 million shares in the offering, raising about $495 million. The company’s footwear was first cobbled together by Johann Adam Birkenstock in Germany in 1774.

Persons: Johann Adam Birkenstock, Barbie, ”, outsized, ” Birkenstock, Birkenstock Organizations: Wall Street, New York Stock Exchange, Birkenstock Holding, Securities and Exchange Commission, European Union, Arm Holdings, Renaissance Capital Locations: Germany, “, U.S

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