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☆ Jadon Sancho shines in Borussia Dortmund 1-0 Champions League semifinal first leg win over PSG
▼ + stars: | 2024-05-02 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Jadon Sancho rediscovered some of his magic as he helped Borussia Dortmund to a 1-0 victory over Paris Saint-Germain in the first leg of its Champions League semifinal clash on Wednesday. Sancho, who returned to Dortmund on loan in January after an unsuccessful big-money move to Manchester United, was his elusive best as he proved a constant thorn in the Parisians’ side. It means Dortmund holds a slender one-goal advantage going into the second leg at the Parc des Princes next week. He scored 50 goals and registered 64 assists in four seasons with Dortmund, before making the move to the Premier League and Manchester United. “Sancho looks like a different player entirely.

Persons: CNN — Jadon Sancho, Germain, Sancho, Niclas Füllkrug, Gianluigi Donnarumma, –, Füllkrug, Jean Catuffe, Lionel Messi, “ Can’t, Jadon, Erik ten Hag, “ Sancho, Man United, Ally McCoist, ” Organizations: CNN, Borussia Dortmund, Paris Saint, Champions League, Dortmund, Manchester United, PSG, Princes, League, Barcelona, Premier League, verve, Man, TNT Sports, Real Madrid, Bayern Munich, Wembley Locations: Paris, Dortmund, Parc, Manchester, Opta, @BlackYellow, Germany

☆ EU Parliament approves major reforms to migration policy
▼ + stars: | 2024-04-10 | by ( Luke Mcgee | ) edition.cnn.com time to read: +6 min

The wide-ranging reforms are designed to ease the burden on countries that have historically taken the most asylum-seekers among the EU’s 27 member states. Roberta Metsola, President of the European Parliament, said: “We have delivered a robust legislative framework on how to deal with migration and asylum in the EU. In theory, the EU will now spread the burden across the 27 member states, either through relocation of people to other member states or through financial and practical assistance in processing refugee claims. In a number of EU countries – notably Italy, Hungary, Slovakia and Sweden – anti-immigrant Euroskeptic politicians are in power, either outright or through coalition. “And it will ultimately be up to the member states themselves to decide how these new measures are practically managed.

Persons: Roberta Metsola, Joelle Grogan, Grogan, ”, Alberto Neidhardt, Neidhardt Organizations: CNN, European, EU, European Policy, Ukraine Locations: Greece, Italy, Malta, East, North Africa, Dublin, Brussels, “, Hungary, Slovakia, Sweden, France, Germany, Ukraine, United States

Politicians and auto executives on both sides of the Atlantic are calling for more protectionist measures. After Tesla lost its crown to BYD as the world’s biggest E.V. Otherwise, the Tesla C.E.O. said, Chinese E.V. The continent’s auto sector employs 13 million people and generates 8 percent of the bloc’s G.D.P.

Persons: China Tesla, —, Warren Buffett, Tesla, Elon Musk, ” Luca de Meo, Vivienne Walt, DealBook, ”, June’s E.U Organizations: Renault Group’s, Airbus Locations: China, Europe, June’s

☆ New Jersey’s Ballot Must Be Immediately Redesigned, Federal Judge Rules
▼ + stars: | 2024-03-29 | by ( Tracey Tully | ) www.nytimes.com time to read: 1 min

A federal judge has granted an emergency request to force New Jersey to redesign its election ballot before the June primary, upending a longstanding source of electoral power for the state’s Democratic and Republican parties. The ruling, issued on Friday, is expected to fundamentally reshape politics in New Jersey and will have an immediate effect on June’s primary races. “The integrity of the democratic process for a primary election is at stake,” wrote Zahid N. Quraishi of U.S. District Court for the District of New Jersey in a 49-page decision. “Plaintiffs have put forth credible evidence not only that their constitutional rights are violated by the present ballot design used in New Jersey, which is used in no other state in the country,” he wrote, adding, “but that defendants would suffer minimal harm in implementing the ballot design requested.”

Persons: upending, ”, Zahid Organizations: state’s Democratic, Republican, District of Locations: New Jersey, U.S, District of New Jersey

☆ ‘June’ Review: The Enduring Appeal of June Carter Cash
▼ + stars: | 2024-01-16 | by ( Glenn Kenny | ) www.nytimes.com time to read: 1 min

The singer June Carter Cash was born in 1929 into the Carter Family, an influential early country music group, and toured with Elvis Presley in the 1950s. She married Johnny Cash in 1968 and became part of his touring show. Archival footage of its making anchors the new documentary “June,” directed by Kristen Vaurio. The phrase that gave that album its title, “Press On,” is a neat encapsulation of June’s life philosophy. Her love story with Cash, and her perseverance as he battled addictions, is one of the most renowned in the annals of 20th-century celebrity.

Persons: Carter Cash, Carter, Elvis Presley, Johnny Cash, Merle Kilgore, ”, Kristen Vaurio, Cash Organizations: “ Locations: ”

☆ Lionel Messi says he is focused on playing at next year’s Copa América but doesn’t rule out appearing at 2026 World Cup
▼ + stars: | 2023-12-02 | by ( Issy Ronald | Benjamin Brown | ) edition.cnn.com time to read: +2 min

All I’m thinking about today is getting to the Copa América and being able to play in it,” he said. “Then time will tell whether I’ll be at the World Cup or not. I’m going to be at an age (39) that normally doesn’t allow me to play in the World Cup. That victory, along with a 2021 Copa América trophy, came after international glory had eluded Argentina and Messi for years, as they lost three major finals in a row – the 2014 World Cup, 2015 Copa and 2016 Copa. “Maybe we’ll do well in the Copa América and everything will work out for me to continue.

Persons: Lionel Messi, Ballon, hasn’t, ”, I’ll, “, ” Messi, Messi, Megan Briggs Organizations: CNN, Copa América, ESPN, Argentina, Copa, France, Qatar, MLS, Inter Miami, Leagues, Messi Locations: USA, Argentina

☆ Netherlands looking for both practice and goals against Gibraltar
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

The Dutch are up against a Gibraltar side reeling after a record 14-0 loss to France in Nice on Saturday and Koeman said his side would be looking for lots of goals, too. Against this opponent you want to see intensity and many goals," Koeman added. I want to feel afterwards that we have done everything we can to score goals. Wout Weghorst scored early in Saturday's game against the Irish but despite plenty of possession and chances, the Dutch were unable to add more goals. Writing by Mark Gleeson in Cape Town; Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Ronald Koeman, Koeman, I'm, Wout Weghorst, Mark Gleeson, Christian Radnedge Organizations: Ireland, France, European, Germany, Thomson Locations: FARO, Portugal, Netherlands, Gibraltar, Germany, Amsterdam, Faro , Portugal, Nice, Dutch, Hamburg, Cape Town

☆ Fed Chair Powell to deliver remarks during uncertain moment for the US economy
▼ + stars: | 2023-10-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Federal Reserve Chair Jerome Powell is set to deliver remarks during a moderated discussion hosted by the Economic Club of New York at 12 pm ET on Thursday. The yield on the benchmark 10-year US Treasury note reached its highest level since 2007 on Wednesday, while 30-year Treasury yields breached the 5% mark. That’s a welcome development for the Fed, but officials aren’t quite yet ready to declare victory. Inflation is still above the Fed’s 2% target, and officials have said they need to see further evidence of the economy cooling. Employers added a robust 336,000 jobs in September, while the unemployment rate held at a low 3.8% that month.

Persons: Jerome Powell, Philip Jefferson, That’s, ”, Mary Daly Organizations: DC CNN — Federal, Economic, of New, Treasury, ” San Francisco Fed, Traders, Commerce Department Locations: Washington, of New York, June’s, ” San, Israel

☆ Lukaku backs Belgium return for Courtois after spat with coach
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Oct 11 (Reuters) - Belgium's stand-in captain Romelu Lukaku said he would welcome Thibaut Courtois back into the national team with open arms after the goalkeeper walked out of the squad in June. Courtois tore knee ligaments and underwent surgery in August, delaying any resolution, but earlier this week Belgium fullback Timothy Castagne said he did not think Courtois could return to the squad without any explanation. “The day Thibaut decides to return, he will simply return. You know, I would like to call on the media not to constantly write that Thibaut Courtois or any other player said this or did that. Lukaku was chosen ahead of Courtois as captain in June, standing in for the injured Kevin De Bruyne.

Persons: Romelu Lukaku, Thibaut Courtois, Courtois, Domenico Tedesco, Timothy Castagne, “, ”, Thibaut, “ Thibaut, Lukaku, Kevin De Bruyne, Castagne, I've, Mark Gleeson, Toby Davis Organizations: Estonia, Real Madrid, Austria, Thomson Locations: BRUSSELS, Belgium, Vienna, Paris

☆ Fact check: Debunking eight Trump false claims about the Biden-era economy
▼ + stars: | 2023-09-14 | by ( Daniel Dale | ) edition.cnn.com time to read: +15 min

They’re looking for jobs, but many of ‘em aren’t looking for jobs, so it’s a fake number.”Facts First: Trump made two false claims here. Real incomes under Trump and BidenTrump claimed, “Under Biden, real incomes have gone down by $7,400 per family, think of that. Think of that.”Facts First: Both parts of Trump’s claim are false. When Biden took office in January 2021, the economy was about 9.4 million jobs below the pre-pandemic peak set in February 2020. By adding more than 13.4 million jobs over Biden’s first 30 full months, therefore, the country went roughly 4 million jobs above the pre-pandemic peak.

Persons: Donald Trump, Joe Biden –, Biden, Trump, Biden –, “, we’ll, Sean Spicer, Spicer, Biden Trump, Trump’s, it’s, Michael Klein, ” Klein, wouldn’t, That’s, –, doesn’t, PolitiFact, Biden’s Organizations: Washington CNN, Trump, White, White House, Bureau of Labor Statistics, Biden, Fletcher School, Tufts University, Federal Reserve, US, “, Heritage Foundation, Trump Trump Locations: South Dakota, Ukraine, ”, Biden’s

☆ Inflation woes persist for small businesses as they struggle to hire
▼ + stars: | 2023-09-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —America’s small businesses felt gloomier in August as they continued to struggle with inflation and hiring qualified workers, according to a survey from the National Federation of Independent Business released Tuesday. Optimism among more than 600 small businesses surveyed declined in August from the prior month, snapping a three-month streak of improving sentiment. The share of small business owners saying they had job openings that were hard to fill stood at 40% last month, down slightly from July but still historically high. “With small business owners’ views about future sales growth and business conditions discouraging, owners want to hire and make money now from strong consumer spending,” said Bill Dunkelberg, the NFIB’s chief economist, in the release. The US economy remains on strong footing, despite rapid rate hikes, with consumer spending jumping 0.8% in July and retail sales advancing 0.7% that month.

Persons: Washington CNN —, ”, Bill Dunkelberg, Goldman Sachs, Simona Mocuta Organizations: Washington CNN, National Federation of Independent Business, Federal Reserve, Labor Department, American Bankers, Economic, Committee, State Street Global Advisors

☆ US home prices show signs of stabilizing, reports show
▼ + stars: | 2023-08-29 | by ( Amina Niasse | ) www.reuters.com time to read: +2 min

REUTERS/Octavio Jones Acquire Licensing RightsNEW YORK, Aug 29 (Reuters) - U.S. housing prices showed further signs of stabilizing in June, according to two reports out Tuesday that signaled the lengthy run of softening sales prices may be bottoming out. Both reports showed prices rose modestly month-over-month. House prices rose 3.0% between the second quarters of 2022 and 2023, FHFA said. FHFA's data showed June’s year-over-year gains were strongest in the East North Central and New England regions, up by 5.4% and 6.8%, respectively. On a city basis, the Case-Shiller data showed Chicago and Cleveland experiencing the greatest price accelerations.

Persons: Octavio Jones, FHFA, ”, Anju Vajja, ” Craig Lazzara, DJI, Amina Niasse, Safiyah Riddle, Andrea Ricci, Leslie Adler Organizations: REUTERS, Federal Housing Finance Agency, Federal Reserve, FHFA’s Division of Research, Statistics, East North, Thomson Locations: Tampa , Florida, U.S, “ U.S, East North Central, New England, Chicago, Cleveland

☆ Already Missing Summer? You Can Preserve It in Your Freezer.
▼ + stars: | 2023-08-23 | by ( Margaret Roach | ) www.nytimes.com time to read: +1 min

I freeze some herbs, including parsley, in more than one form: as pesto cubes and also in my go-to concoction that I call parsley logs. After it’s frozen, slice a disk or two from the end of the log as needed, and then wrap it back up and return it to the freezer. Compressed herbs that are frozen this way — I’ve done cilantro, chives and dill foliage, too — are easy to chop later, if desired. Peel, slice and bag it, and put it in the freezer, too. Store-bought or homegrown lemongrass, trimmed and cut up, can also be frozen — as can extra scallions.

☆ The Fed's next move after raising rates to fight inflation
▼ + stars: | 2023-08-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Some investors are betting on rate cuts as soon as early next year, perhaps on expectations that the economy might soon deteriorate. If unemployment spikes because of higher interest rates, for example, the Fed would likely cut rates to stem job losses under its mandate of maximum employment. The Fed’s tough talk has rattled the bond market, helping push up long-dated yields. In addition to the possibility of cutting rates because of an economic downturn, the Fed could also cut rates if inflation slows too much. “If the Fed sees that inflation goes below the 2% target, they could start decreasing interest rates, but I don’t think they are going to start decreasing interest rates until that happens,” said Eugenio Alemán, chief economist at Raymond James.

Persons: there’s, Rather, Austan Goolsbee, Mike Hackett, they’ve, ”, Eugenio Alemán, Raymond James, Melissa Brown, China’s ‘ Lehman, Laura, Mengchen Zhang, Technology —, Zhongrong, Read, Thomas Barkin, Michelle Bowman, Kansas City Fed’s, Jerome Powell, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Federal, Federal Reserve Bank of Chicago, Treasury, Nationwide, CNN, Fed, Service, KBC Corporation, Xianheng, Science, Technology, National Association of Realtors, Body, Nvidia, Kansas City, Global, US Commerce Department, Labor Department, Central Bank Locations: Washington, “, China, BJ’s, Abercrombie, Kansas

☆ High services costs make UK rate-cutting laggard
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Alastair Grant/Pool via REUTERS Acquire Licensing RightsLONDON, Aug 16 (Reuters Breakingviews) - UK inflation is slowing, according to many metrics. Unfortunately, those are not the ones the Bank of England values the most. Prices in that category grew 7.4% in July, faster than June’s 7.2%, due to more expensive restaurants, hotels and airfares. Policymakers keep a close eye on services’ prices and wage growth, which hit a record in the three months to June.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, Bailey, Francesco Guerrera, Exor’s Philips, Bain, Neil Unmack, Streisand Neto Organizations: Bank of England, Monetary, REUTERS Acquire, Reuters, Bank of, Office, National Statistics . Services, European Central Bank, U.S . Federal Reserve, Twitter, FC Barcelona’s, Messi, Thomson Locations: London, Britain, Bank of England, June’s

☆ Fed officials fretted US inflation might not cool further unless economy slows down
▼ + stars: | 2023-08-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Federal Reserve officials were wary that inflation would slow further unless the US economy and labor markets also cool down, according to minutes from their July policy meeting released on Wednesday. There have only been two meetings in which Fed officials dissented with a decision since the central bank began lifting rates in March 2022. “Inflation is still significantly above” the Fed’s 2% target, Fed Governor Michelle Bowman said earlier this month. The surprising economic strength this summer raised optimism among investors and Fed officials that the US economy can avoid a recession or a sharp uptick in unemployment as inflation continues to slow. Fed economists are in fact no longer projecting a recession, according to the minutes, which Fed Chair Jerome Powell divulged in his post-meeting news conference last month.

Persons: It’s, “, Michelle Bowman, dovish, Patrick Harker, ”, Quincy Krosby, Jerome Powell Organizations: DC CNN — Federal Reserve, Fed, Philadelphia Fed, LPL, Commerce Department, Research, Federal Reserve Bank of San Locations: Washington, June’s, Atlanta, Federal Reserve Bank of San Francisco

☆ PPI: US wholesale inflation rose more than expected in July
▼ + stars: | 2023-08-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —US wholesale inflation rose more than expected in July, reversing a yearlong cooling trend, the Bureau of Labor Statistics reported Friday. Services prices rose 0.5% from June, the highest monthly increase since March 2022 for the category, BLS data shows. Still more to comeThe report comes just one day after the Consumer Price Index showed that prices rose 3.2% annually in July. Similar base effects played their role in the headline PPI increase as well, noted Rankin. When stripping out the more volatile categories of food and energy, core PPI rose 2.4% annually in July.

Persons: Price, Kurt Rankin, ”, ” Rankin, Rankin, “, Matthew Martin, Oren Klachkin, Dow Organizations: Minneapolis CNN, of Labor Statistics, Refinitiv, PPI, Services, PNC Financial Services, CNN, “, Federal Reserve, Oxford, ” Energy, Fed, Federal Locations: Minneapolis, That’s

☆ US consumers are feeling less optimistic about the economy for the first time this summer
▼ + stars: | 2023-08-11 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans became slightly less optimistic about the economy this month, following two straight months of growing confidence. Sentiment had been on an upswing throughout the summer, mostly due to slower inflation, and is well above the record lows reached this time last year. Signs of cooling inflationGas prices, which are highly visible indicators of inflation for consumers, have risen in recent weeks, which could weigh on sentiment in the future. Still, consumers face the resumption of student loan payments later this year, and that could weigh on household budgets. US consumers opened up their wallets this summer, with many flocking to the smash-hit “Barbie” movie, attending concerts by Taylor Swift or Beyoncé, or traveling abroad.

Persons: “, ”, Joanne Hsu, Ryan Sweet, bode, Kieran Clancy, Barbie, Taylor Swift Organizations: DC CNN, University of Michigan, University of Michigan’s, University, Oxford Economics, Federal Reserve Bank of San, Pantheon, Consumer, Commerce Department, Federal, Atlanta Locations: Washington, June’s, Federal Reserve Bank of San Francisco, Michigan

☆ UK GDP jump offers little relief to BoE
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

The larger-than-forecast 0.5% rise in GDP in June meant that output grew 0.2% in the second quarter compared to the previous three months. That’s a modest acceleration but not enough to force the Bank of England to hike rates again in September. Jeremy Hunt, Britain’s finance minister, was quick to claim credit for the GDP numbers. Less rational is the sharp jump in sterling and UK bond yields, fuelled by market expectations that the BoE will now have to raise rates in September. Sure, June GDP numbers were strong but they were flattered by the absence of the bank holiday that had depressed May’s figures.

Persons: That’s, Jeremy Hunt, BoE, Francesco Guerrera, Aimee Donnellan, Streisand Neto Organizations: Reuters, England soccer, Bank of, Conservative, Twitter, Siemens, Thomson Locations: Bank of England, Britain

☆ Don’t be fooled by rising consumer price data, take a peek behind the numbers
▼ + stars: | 2023-08-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

CNN —US consumer prices rose 3.2% for the 12 months ending in July, according to the latest Consumer Price Index, which landed Thursday. “Don’t be fooled by the uptick in [year-over-year] inflation,” noted Julia Pollak, chief economist for ZipRecruiter. Gimme (cheaper) shelter: Shelter (i.e. “Our baseline forecast suggests that year-over-year shelter inflation will continue to slow through late 2024 and may even turn negative by mid-2024,” the researchers wrote. Uncooked beef steak prices rose 2.3% and uncooked ground beef rose 1.5%.

Persons: It’s, Don’t, ”, Julia Pollak, Joe Brusuelas, ” Brusuelas, —, Anna Bahney, Danielle Wiener, Bronner, That’s, Douglas Elliman, Miller Samuel, Spencer Platt, Jonathan Miller, “, Read, Biden, Michelle Toh Organizations: CNN Business, Bell, CNN, ZipRecruiter, RSM US, Federal Reserve, Commerce Department, San Francisco, Big Apple, Getty Locations: Manhattan, New York, New York City, China, Silicon

☆ OPEC’s oil sweet spot may not last long
▼ + stars: | 2023-08-11 | by ( Yawen Chen | ) www.reuters.com time to read: +5 min

True, a likely El Niño weather event could bring a colder winter, boosting demand for gas and oil. Saudi Arabia has already extended its extra million barrels per day cut until September. At the same time Saudi Arabia pledged a voluntary production cut for July that it has since extended to include August and September. Saudi Arabia told OPEC that it cut output by 943,000 barrels per day (bpd) in July to 9.013 million bpd, Reuters reported on Aug. 10. OPEC’s total output fell by 836,000 bpd to 27.31 million bpd in the same month.

Persons: Prince Abdulaziz bin Salman, Goldman Sachs, Abdulaziz’s, Joe Biden, Neil Unmack, Oliver Taslic Organizations: Reuters, of, Petroleum, OPEC, International Energy Agency, Federal Reserve, Traders, U.S, Federal, Organization of, Brent, West Texas, Thomson Locations: Saudi, Russia, OPEC, Saudi Arabia, U.S, China, Gulf Coast, Iran

☆ Is it time to worry about stagflation?
▼ + stars: | 2023-08-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

CNN —For the past two years, economists have been worrying about the risks of high inflation rates. But far less attention has been given to inflation’s sibling: stagflation. Stagflation is the combination of high inflation and a slowing economy. The current state of stagflation: Last year, then-World Bank President David Malpass warned that stagflation risks were high because of supply chain disruptions stemming from lockdowns in China and bans on Russian oil. What’s happening now: The risk of stagflation varies significantly across different regions of the globe.

Persons: Stagflation, David Malpass, Janet Yellen, ”, Lan Ha, stagflation, Andrew Kenningham, “, That’s, ” Kenningham, ” Ha, Ha, Parija Kavilanz, don’t, Dallin Hatch, Biden, Joe Biden, Trump, Matt Egan, It’s Organizations: CNN Business, Bell, CNN, Federal, World Bank, Euromonitor, Capital Economics, Bank of England’s, National Institute of Economic, Social Research, Trump Locations: Israel, lockdowns, China, Europe, Germany, Ukraine, Saudi Arabia

☆ CPI: Consumer prices rose by 3.2% annually in July, picking up for the first time in 13 months
▼ + stars: | 2023-08-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —For the first time in more than 12 months, the pace of consumer price hikes accelerated on an annual basis. The Consumer Price Index rose 3.2% for the year through July, up from June’s 3% annual increase, according to data released Thursday by the Bureau of Labor Statistics. Core CPI, which excludes the more volatile food and energy prices, increased 0.2% from June and was up 4.7% from the year-ago period. July is the the fourth consecutive month that annual core CPI has eased, and the 4.7% rate landed 0.1 percentage points below consensus expectations. Shelter prices rose 0.4% month on month and were up 7.7% for the year ending in July.

Persons: “ Don’t, ”, Julia Pollak, Joe Biden, ” Biden, “ We’ve, Kurt Rankin, Dow, “, Joe Brusuelas, Brusuelas, Tamara Charm, Brandon Bell, Danielle DiMartino Booth, DiMartino Booth, — CNN’s Elisabeth Buchwald Organizations: Minneapolis CNN —, Bureau of Labor Statistics, BLS, CPI, Federal Reserve, PNC, Nasdaq, RSM US, CNN, San, Services, “, McKinsey, Quill Intelligence, Federal Reserve Bank of Dallas Locations: Minneapolis, June’s, San Francisco, Austin , Texas

☆ Not everyone is convinced the US will avoid a recession
▼ + stars: | 2023-08-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

New York CNN —The case for no US recession is building, but some on Wall Street are cautioning against getting overconfident. That has raised hopes among investors that the United States could avoid a recession despite the Federal Reserve’s aggressive pace of interest rate hikes. Still, some investors are maintaining that the US economy could tip into a recession later this year. The index of leading economic indicators is just kind of at an extreme rating. One of the reasons for the rise in equity valuations in recent weeks was the pricing out of recession or economic weakness.

Persons: Michael Gapen, Michael Feroli, ”, Bell, David Donabedian, we’ve, There’s, Catherine Thorbecke, Danielle Romain, Romain, Read, Uno Mattel, Uno Quatro, Ellie Stevens, “ We’re, Ray Adler Organizations: CNN Business, Bell, New York CNN, Bank of America, ” Bank of America, JPMorgan Chase’s, CIBC Private Wealth, Fitch, Google, Trust, Mattel, Uno Locations: New York, United States, New York City

☆ Siemens Energy’s flop puts brakes on green race
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

An offshore wind turbine of the Siemens Gamesa company is seen from the Telde coast on the island of Gran Canaria, Spain, May 2, 2022. REUTERS/Borja SuarezLONDON, Aug 7 (Reuters Breakingviews) - Siemens Energy’s (ENR1n.DE) growing wind woes will have wider repercussions. The $13 billion German group unveiled on Monday a 2.2 billion euro ($2.4 billion) charge because of quality issues linked to its troubled wind turbine unit Siemens Gamesa. A previous profit warning in June, also linked to malfunctioning turbines, erased a third of Siemens Energy’s stock market value. Bruch says he is now prioritising the profitability of Siemens Gamesa, implying a pause over plans to add more wind capacity.

Persons: Borja Suarez, Jefferies, Siemens Gamesa, Reuters Breakingviews, Christian Bruch, Bruch, Yawen Chen, headwinds, Lisa Jucca, Oliver Taslic Organizations: Siemens, Gran Canaria, REUTERS, Borja Suarez LONDON, Reuters, Siemens Energy, Investors, Siemens Gamesa, JPMorgan, Global, Twitter, Thomson Locations: Gran, Spain, Germany

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