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☆ The biggest winners and losers from the new sports streaming service
▼ + stars: | 2024-02-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. ESPN, Warner Bros., and Fox announced plans this week for a new sports streaming service set to launch this fall . That could put an end to cable TV as we know it , Nathan McAlone, Business Insider's deputy media editor, writes. Ashley Rodriguez, BI's media editor, has a breakdown of the six biggest questions about this new sports streamer . Games on YouTubeTV, for example, are noticeably delayed compared to cable TV broadcasts .

Persons: —, Katie Notopoulos, David Jensen, Nathan McAlone, it's, Ashley Rodriguez, Peter Kafka, BI's, Peter, Nathan, Ashley —, We've, Ashley, Fox, Rick Wilking, Reuters Leon Cooperman, Marc Rubinstein, Yi Huiman, Xi Jinping, Jordan Hart, It's, Justin Metz, Blackstone, Bob Iger, Donald Trump, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ESPN, Warner Bros, Fox, ESPN2, ABC, FOX, Peter : Media, Nathan, Warner Bros ., NFL, Cable, Comcast, Paramount, Reuters, Signature Bank, New York Community Bancorp, Securities, Commission, that's, Apple Vision, Microsoft, BI, of Foreign Labor, Apollo, KKR, Bain Capital, Disney, Epic Games, ConocoPhillips, US Locations: New, China, Beijing, New York, London

☆ A Goldilocks economy could be coming, but a key piece of the puzzle remains elusive
▼ + stars: | 2024-02-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why investors are eyeing an even better outcome for the market than a soft landing . The big storyMarket's sweet spotPiotr PowietrzynskiForget about a soft landing, some market watchers want something just right. For months, investors hoped the Fed's tightening policy would culminate in a soft landing: lowering inflation while avoiding a full-blown recession. But why settle for a soft landing when you can get it all? Liu Jie/Xinhua via Getty ImagesA Goldilocks economy still hinges on the Fed cutting rates, which has proved fleeting for investors.

Persons: —, hasn't, Piotr Powietrzynski Forget, Matthew Fox, Solita, Marcelli, Jerome Powell, Liu Jie, we'll, Powell, Banks, Kenneth Rogoff, Jensen Huang, Rick Wilking, Goldman, Goldman Sachs, Savita Subramanian, Gen, Jenny Chang, Rodriguez, Fintechs, VCs, Sam Altman, Altman, didn't, Scott Winters, Alyssa Powell, Travis Kelce, Experian, It's, EVs, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Apple, Business, Getty, Bank of America, Harvard, Nvidia, CES, Kansas City Chiefs, US Treasury, New York Times, UBS, FAA, Boeing, Max Locations: Americas, Washington ,, Xinhua, Jensen, Las Vegas , Nevada, U.S, China, New York, London

☆ John Deere and SpaceX's Starlink team up to equip tractors with satellite internet, in a deal Elon Musk calls 'great for farmers'
▼ + stars: | 2024-01-16 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk and SpaceX set out to blanket the world with high-speed internet using thousands of Starlink satellites. The tractor titan and satellite giant have signed a deal to connect tractors and other farming equipment to the internet, The Wall Street Journal reported. SpaceX uses Falcon 9 rockets to transport batches of around 60 Starlink satellites at a time. Paul Hennessy/SOPA Images/LightRocket via Getty ImagesJohn Deere tested different satellite options for about eight months, according to The Wall Street Journal report. Farmers will have to install Starlink antennas, which will be designed for rugged and dusty terrain, on the tops of vehicle cabs, The Wall Street Journal reported.

Persons: —, Elon, John Deere, Musk, Elon Musk, Rishi Sunak, Kirsty Wigglesworth, Paul Hennessy, JC Schemper, Longmont , Colorado Rick Wilking Organizations: Service, SpaceX, Business, Street Journal, Deere, Twitter, British, Wall, Falcon, Getty, Wall Street, Reuters Locations: Brazil, London, Nebraska, Longmont , Colorado

The AT&T logo is seen on a store in Golden, Colorado United States July 25, 2017. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsSTOCKHOLM, Dec 4 (Reuters) - AT&T (T.N) said on Monday it plans to use so-called ORAN technology for 70% of its wireless network traffic in the United States by late 2026 and will move from two telecom vendors to one. While the technology has been tested by several telecom providers, it has not been widely adopted. AT&T's push for the technology will likely be a major boost for Open RAN. The U.S. telecom company's spending could approach roughly $14 billion over the five-year term of the contract with that one vendor, the company said.

Persons: Rick Wilking, Supantha Mukherjee, Matthew Lewis Organizations: Golden , Colorado United, REUTERS, Rights, Open RAN, Ericsson, Nokia, Thomson Locations: Golden ,, Golden , Colorado United States, ORAN, United States, U.S, Stockholm

☆ Average 60/40 portfolio has best month in November since 1991 - BofA
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. A typical 60/40 portfolio - one that holds 60% in stocks and 40% in bonds - would have returned 9.6% in November, the most since December 1991, which saw the dissolution of the USSR, BofA said. They cautioned though: "pull backs follow monster months" and such a portfolio lost 3.2% in the first quarter of 1992. (.MIWD00000PUS)The yield on the benchmark 10-year U.S. Treasury note fell 52 basis points in the month, its most since 2011. A bond's yield moves inversely to its price.

Persons: Rick Wilking, BofA, Alun John, Amanda Cooper, Sharon Singleton Organizations: REUTERS, Bank of America Global, Treasury, Thomson Locations: Westminster , Colorado, USSR

☆ US kicks off a spate of oil and gas auctions just as COP28 gets underway
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

The remaining acreage, in New Mexico, Oklahoma, Nevada, North Dakota and Utah, will be sold on Nov. 30, Dec. 5 and Dec. 12. The UN's "Conference of the Parties" on climate, known as COP 28, will begin on Thursday and will take place over the same two weeks. Dozens of nations plan to push for the world's first deal to phase out carbon dioxide-emitting coal, oil and gas at the meeting. "Instead of doing the necessary work to fight climate change, Biden continues to support the expansion of fossil fuels here in the U.S.," Nicole Ghio, senior fossil fuels program manager for Friends of the Earth, said in a statement. Biden's Inflation Reduction Act (IRA), a climate change law passed last year, made oil and gas auctions a prerequisite for renewable energy development.

Persons: Rick Wilking, Biden, Joe Biden, Nicole Ghio, Trump, Nichola Groom, Aurora Ellis Organizations: REUTERS, drillers, United Nations, Interior Department's, Interior Department's U.S . Bureau of Land Management, Department, Thomson Locations: Ft . Laramie , Wyoming, Wyoming, Dubai, Interior, Interior Department's U.S, New Mexico , Oklahoma , Nevada , North Dakota, Utah, U.S

☆ US holds first of several oil and gas auctions as COP28 gets underway
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

BLM will also offer acreage in New Mexico, Oklahoma, Nevada, North Dakota and Utah on Nov. 30, Dec. 5 and Dec. 12. Dozens of nations plan to push for the world's first deal to phase out carbon dioxide-emitting coal, oil and gas at the meeting. "Instead of doing the necessary work to fight climate change, Biden continues to support the expansion of fossil fuels here in the U.S.," Nicole Ghio, senior fossil fuels program manager for Friends of the Earth, said in a statement. Biden's Inflation Reduction Act (IRA), a climate change law passed last year, made oil and gas auctions a prerequisite for renewable energy development. Reporting by Nichola Groom; Editing by Aurora Ellis and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Rick Wilking, Biden, Joe Biden, Nicole Ghio, Trump, Nichola Groom, Aurora Ellis, Stephen Coates Organizations: REUTERS, United Nations, Interior Department's, Interior Department's U.S . Bureau of Land Management, Department, Thomson Locations: Ft . Laramie , Wyoming, Wyoming, Dubai, Interior, Interior Department's U.S, Converse County, New Mexico , Oklahoma , Nevada , North Dakota, Utah, U.S

☆ Charlie Munger, the 'Oracle of Pasadena' who was Buffett's second-in-command
▼ + stars: | 2023-11-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +8 min

Berkshire Hathaway Vice Chair Charlie Munger arrives to begin the company's annual meeting in Omaha May 4, 2013. EXPANDING BUFFETT'S HORIZONSMunger and Buffett did differ politically, with Munger being a Republican and Buffett a Democrat. Like Buffett, Munger was a fan of the famed economist Benjamin Graham. ORACLE OF PASADENAFans dubbed Buffett the "Oracle of Omaha," but Munger was held in equal esteem by his own followers, who branded him the "Oracle of Pasadena" after his adopted hometown in California. "I was raised by people who thought it was a moral duty to be as rational as you could possibly make yourself," Munger told Daily Journal shareholders in 2020.

Persons: Charlie Munger, Rick Wilking, Charles Munger, Warren Buffett's, Munger's, Buffett, Munger, Berkshire Hathaway, HORIZONS Munger, Santa Barbara, Warren, Benjamin Graham, Charlie, Ben Graham, Charles T, Kathy Kristof, Buffett's, Ernest . Buffett, Olson, Wheeler, Alice Schroeder, Nancy, Graham, Heinz, Todd Combs, Ted Weschler, Nancy Munger, Jonathan Stempel, Diane Craft, Rosalba O'Brien Organizations: Berkshire Hathaway, REUTERS, Berkshire Hathaway Inc, Munger, CNBC, Buffett, HORIZONS, Republican, University of California, Berkshire, ORACLE, PASADENA, Oracle, Wesco Financial Corp, Daily Journal Corp, Daily, Los Angeles Times, University of Michigan, U.S . Army Air Corps, Harvard Law School, Tolles, Munger &, Omaha Club, BNSF, 3G Capital, Kraft Foods, Reuters, Thomson Locations: Omaha, California, Berkshire, Omaha , Nebraska, Vienna, Santa, Pasadena, Munger, TETE, Los Angeles, New York

☆ Warren Buffett pays for Indian payments punt
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsMUMBAI, Nov 27 (Reuters Breakingviews) - Berkshire Hathaway’s (BRKa.N) foray into the digital payments industry in India did not go well. Warren Buffett’s investment firm on Friday sold its remaining shares in $7 billion Paytm, some five years after making its initial investment, locking in a more than 20% loss, per Breakingviews calculations. But Berkshire only invested $260 million, barely a blip next to its $700 billion-odd of assets at the time. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Warren Buffett, Rick Wilking, Warren, –, Vijay Shekhar Sharma’s, it’s, Antony Currie, Katrina Hamlin Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Rights, Reuters, Berkshire, X, Thomson Locations: Omaha , Nebraska, Rights MUMBAI, Berkshire, India, Una, China, Rome

Industry practice suggests that a large share of hedge funds trading in repo markets put up zero collateral, meaning they are fuelling activity using enormous amounts of cheap debt. A looming rule by the U.S. Securities and Exchange Commission would expand the use of central clearing in the cash Treasury and repo market. SEC chair Gary Gensler recently promoted the benefits of central clearing and pointed to data showing high levels of repo trades transacted at zero haircuts. James Tabacchi, CEO of South Street Securities, called zero haircuts a "race to the bottom" and not healthy for markets. However, some market participants have voiced concerns that some of the proposed reforms could be a hurdle for some investors, potentially undermining the goal to improve liquidity and resilience in the Treasury market.

Persons: Rick Wilking, Christopher Clarke, Gary Gensler, James Tabacchi, Richard Chambers, Goldman Sachs, Davide Barbuscia, Megan Davies, Paritosh Bansal, Sonali Paul Organizations: REUTERS, U.S, Industry, repo, North America Sovereign Financing, Morgan Securities, Treasury, Federal Reserve Bank of New, U.S . Securities, Exchange, Corporation, SEC, . Federal Reserve, South Street Securities, Goldman, Thomson Locations: Westminster , Colorado, Treasuries, Federal Reserve Bank of New York, Carolina

The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017.REUTERS/Rick Wilking Acquire Licensing RightsNov 21 (Reuters) - Nordstrom (JWN.N) missed Wall Street targets for third-quarter revenue on Tuesday as sticky inflation pressured consumer spending in the months leading up to the all-important holiday shopping season. "The consumer is phasing out their shopping ... they are shopping cheque to cheque," Jane Hali & Associates senior analyst Jessica Ramirez said. Nordstrom executives said in a post-earnings call that the active, beauty and accessories segments were leading sales growth. "They did not do as much discounting as expected, but that may have hurt the top-line sales ... especially at Nordstrom," said Morningstar analyst David Swartz. Best Buy and Kohl's had trimmed their annual sales expectations to account for difficult-to-predict consumer demand in an uncertain economy, but Nordstrom maintained its forecast.

Persons: Rick Wilking, Jane Hali, Jessica Ramirez, David Swartz, Nordstrom, Ananya Mariam Rajesh, Devika Organizations: Nordstrom, REUTERS, Associates, Thomson Locations: Broomfield , Colorado, Nordstrom, Bengaluru

REUTERS/Rick Wilking/File Photo Acquire Licensing RightsNEW YORK, Nov 21 (Reuters) - Goldman Sachs (GS.N) expects the U.S. Treasuries curve to steepen in the long term, driven by rising fiscal spending, top executives said. "Fiscal spending has not abated. Benchmark 10-year Treasury yields, which move inversely to prices, hit 5% last month for the first time since 2007. Demand for long-dated Treasuries has slipped in the last six months from central banks, U.S. regional banks and sovereign wealth funds, said Jim Esposito, who jointly runs Goldman's global banking and markets division. "Our economists think most central banks will start cutting rates next year, albeit slowly.

Persons: Rick Wilking, Goldman Sachs, Ashok Varadhan, Goldman's, Fitch, Moody's, government's, Treasuries, Jim Esposito, they've, Esposito, Lananh Nguyen, Davide Barbuscia, Richard Chang Organizations: REUTERS, U.S, Treasury, Federal Reserve, Thomson Locations: Westminster , Colorado, U.S, QE, China

☆ Dollar headed for best week against yen in three months; cryptos leap
▼ + stars: | 2023-11-10 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar stood near a one-year high at 151.355 yen on Friday and touched one-week highs against the Australian and New Zealand dollars. The greenback, however, regained its footing this week and was eyeing a weekly gain of roughly 1.3% against the yen, its best performance since August. The Aussie and the kiwi were likewise headed for a 2.3% and 1.75% weekly decline against the dollar respectively, also their steepest drop in months. "Even though we don't expect Powell to deliver on the tightening bias, that tightening bias does support the dollar," said Kong.

Persons: Rick Wilking, Jerome Powell, Powell, Tina Teng, it's, Carol Kong, Carl Szantyr, Rae Wee, Lincoln, Kim Coghill Organizations: REUTERS, Rights, Federal, New, CMC Markets, Fed, Commonwealth Bank of Australia, Australian, New Zealand, U.S . Securities, Exchange Commission, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, New Zealand, U.S, China

☆ Dollar eyes best week against yen in three months; cryptos leap
▼ + stars: | 2023-11-10 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar stood near a one-year high at 151.38 yen on Friday and touched one-week highs against the Australian and New Zealand dollars. The greenback, however, regained its footing this week and was eyeing a weekly gain of roughly 1.3% against the yen, its best performance since August. The Aussie and the kiwi were likewise headed for a 2.4% and 1.8% weekly decline against the dollar respectively, also their steepest drop in months. "Even though we don't expect Powell to deliver on the tightening bias, that tightening bias does support the dollar," said Kong.

Persons: Rick Wilking, Jerome Powell, Powell, Tina Teng, it's, Carol Kong, Carl Szantyr, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, New, CMC Markets, Fed, Commonwealth Bank of Australia, Australian, New Zealand, U.S . Securities, Exchange Commission, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, New Zealand, U.S, China

☆ More junk-rated companies downgraded than upgraded in October -JPM
▼ + stars: | 2023-11-09 | by ( Matt Tracy | ) www.reuters.com time to read: +1 min

REUTERS/Rick Wilking/File Photo Acquire Licensing RightsNov 9 (Reuters) - More U.S. high-yield bond issuers saw downgrades to their credit ratings than upgrades last month, JPMorgan (JPM.N) said in a research report. October saw downgrades to 18 junk bond issuers' ratings accounting for $22.2bn in debt, while just 16 issuers were given upgrades by ratings agencies, the JPMorgan report said. This is the first time downgrades have surpassed upgrades on U.S. junk-rated borrowers in four months, it added. Changes to credit ratings are significant for a company, since lower ratings most often result in higher borrowing costs. While high-grade companies' credit ratings have proven resilient during the Federal Reserve's interest-rate hikes, businesses with significant leverage and floating-rate debt have struggled to keep pace with rising debt-servicing costs.

Persons: Rick Wilking, downgrades, Matt Tracy, Alexander Smith Organizations: REUTERS, U.S, JPMorgan, Moody's, Service, Thomson Locations: Westminster , Colorado

But they are going only as far as the safest bets in the junk category, bonds rated BB and B. Junk bond spreads, the additional interest rate investors demand over safe Treasury bonds, tightened sharply. The spreads of those rated BB and B, or the higher rungs of junk, had tightened 47-52 basis points last week, according to Informa Global Markets data. Four junk bond issuers – Bombardier (BBDb.TO), Venture Global LNG, Smyrna Ready Mix Concrete and InfraBuild Australia - announced bond offerings on Monday. The spotty access to bond markets does not bode well for poorly rated companies.

Persons: Rick Wilking, ”, Edward Marrinan, Peter Knapp, Winnie Cisar, bode, Morgan Stanley, Moody's, Manuel Hayes, Shankar Ramakrishnan, Paritosh Bansal, Andrea Ricci Organizations: REUTERS, Federal, Nikko Securities Americas, Investors, JPMorgan, Informa, CCC, Bombardier, Venture Global LNG, “, London, Insight Investment, Barclays, Thomson Locations: Westminster , Colorado, Smyrna, Australia

☆ Buffett's Berkshire posts bigger loss as stocks fall; operating profit sets record
▼ + stars: | 2023-11-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

Operating profit rose 41% to $10.76 billion, even as Berkshire's net loss more than quadrupled to $12.77 billion. "Against that backdrop it's not surprising that Berkshire's consumer and housing-related subsidiaries are seeing pressure," she said. "Berkshire is disciplined," said Tom Russo, a partner at Gardner Russo & Quinn in Lancaster, Pennsylvania who has owned Berkshire stock since 1982. Berkshire's net results swing widely because accounting rules require the company to report investment gains and losses even if it buys and sells nothing. His $117.5 billion net worth ranks fifth worldwide according to Forbes magazine.

Persons: Rick Wilking, Warren Buffett's, Jim Shanahan, Edward Jones, Cathy Seifert, extol, Buffett, Tom Russo, Gardner Russo, Quinn, Cash, Berkshire's, Ian, Geico, Shanahan, PACIFICORP, Haslam, Jonathan Stempel, Ira Iosebashvili, Jason Neely, Diane Craft Organizations: Berkshire Hathaway, REUTERS, Warren Buffett's Berkshire Hathaway Inc, Apple, Treasury, BNSF, Clayton Homes ., Berkshire, Forbes, . Berkshire, Thomson Locations: Omaha, U.S, Berkshire, Omaha , Nebraska, Lancaster , Pennsylvania, California, Florida , New Jersey, New York, United States, Israel

☆ Buffett's Berkshire posts loss as stocks fall, operating profit rises
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

Berkshire Hathaway shareholders walk by a video screen at the company's annual meeting in Omaha May 4, 2013. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsNov 4 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday posted its first overall quarterly loss in a year as the prices of stocks it owns fell, while improved results from insurance operations bolstered operating profit. Berkshire said its third-quarter net loss was $12.77 billion, or $8,824 per Class A share, and compared with a $2.8 billion loss a year earlier. Operating profit rose 41% to $10.76 billion, or $7,444 per Class A share, from $7.65 billion a year earlier. Berkshire said it repurchased $1.1 billion of its stock in the quarter, and has bought back about $7 billion this year.

Persons: Rick Wilking, Warren Buffett's, Jonathan Stempel, Jason Neely Organizations: Berkshire Hathaway, REUTERS, Warren Buffett's Berkshire Hathaway Inc, Berkshire, Thomson Locations: Omaha, Berkshire, New York

The projections prompted U.S. Treasury debt yields to fall slightly, with the benchmark 10-year yield last at 4.88%. "Interest in today's borrowing projections have been higher than normal," said Thomas Simons, money market economist at Jeffries in New York. Investors awaited the Treasury's quarterly refunding statement on Wednesday for details on which maturities will be increased as the department pursues record borrowing levels. QUARTERLY RECORDSThe reduced $776 billion borrowing estimate would still be a record for any October-December period, exceeding the $689 billion in the 2021 quarter boosted by high COVID-19 relief outlays. In the third calendar quarter of 2023, the Treasury said it borrowed $1.01 trillion and ended that period with a cash balance of $657 billion.

Persons: Rick Wilking, Thomas Simons, Jeffries, Steven Zeng, Wednesday's, Zeng, Karen Brettell, David Lawder, Daniel Burns, Davide Barbuscia, Andrea Ricci, Richard Chang Organizations: REUTERS, U.S . Treasury, Treasury, Investors, Deutsche Bank, Thomson Locations: Westminster , Colorado, U.S, California, New York

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsWASHINGTON, Oct 20 (Reuters) - A trio of U.S. banking regulators announced on Friday they were giving the public extra time to digest and provide feedback on a broad proposal to raise bank capital requirements that is already facing fierce industry pushback. The regulators are similarly extending the window for a separate proposal that would raise a capital surcharge for the largest global banks. Firms have warned the proposal if finalized could force them to curtail lending, curb product offerings, and lead to economic harm. The "Basel Endgame" proposal implements international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis.

Persons: Rick Wilking, Banks, Pete Schroeder, Andrea Ricci Organizations: REUTERS, Rights, Federal Reserve, Federal Deposit Insurance Corporation, Currency, Regulators, Banking, Fed, Thomson Locations: Westminster , Colorado

☆ Starboard says Rupert Murdoch's News Corp should break up
▼ + stars: | 2023-10-17 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Jeff Smith, CEO and chief investment officer of Starboard Value, L.P., speaks at a panel discussion at the SALT conference in Las Vegas May 14, 2014. Smith's remarks at the 13D Monitor Active Passive Investor Summit came after Reuters revealed last week that Starboard had become a News Corp shareholder, a prelude to a potential shake-up at Murdoch's media empire. "We believe separate news and real estate assets could help unlock $7 billion or more in value," he added. Starboard, which has pushed for changes at companies ranging from Salesforce (CRM.N) to Darden Restaurants <DRI.N,> would struggle to shake up News Corp without Murdoch's consent. If News Corp separates its real estate assets, shareholders would benefit, Smith said.

Persons: Jeff Smith, Rick Wilking, Rupert, Smith's, Smith, REA, Murdoch, Lachlan, Svea Herbst, Bayliss, Sharon Singleton, David Gregorio Our Organizations: SkyBridge, Rupert Murdoch's News Corp, 13D, Investor, Reuters, News Corp, Dow Jones, Street, Darden, Corp, Svea, Thomson Locations: Las Vegas

☆ Dollar pauses ahead of Fed minutes, US yield moves weigh
▼ + stars: | 2023-10-11 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. U.S. Treasury yields continued to slide, pinning the dollar close to two-week lows as markets digest recent comments from policymakers that the Fed may not need to tighten monetary policy further. The benchmark 10-year U.S. Treasury yield dropped ten basis points, extending declines from Tuesday after a sharp sell-off in September left bonds cheap. On Tuesday, Atlanta Fed Bank President Raphael Bostic said the central bank did not need to raise borrowing costs any further, while Minneapolis Fed President Neel Kashkari said it was "possible" that further hikes might not be needed. The European Central Bank has made "important progress" in getting inflation back down to target but there is still a long road ahead and a further rate hike cannot be ruled out, Dutch central bank chief Klaas Knot said on Wednesday.

Persons: Rick Wilking, Raphael Bostic, Neel Kashkari, Sterling, Klaas Knot, Iain Withers, Rae Wee, John Stonestreet, Kirsten Donovan Organizations: REUTERS, Federal, Treasury, Hamas, ING, Atlanta Fed Bank, Minneapolis, Bank's, ECB, European Central Bank, Thomson Locations: Westminster , Colorado, Israel, Palestinian, U.S, London, Singapore

☆ Dollar loses steam ahead of Fed meeting minutes, US inflation test
▼ + stars: | 2023-10-11 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. A slew of Fed officials have signalled in recent days that the U.S. central bank may not need to tighten monetary policy much further than initially thought. Atlanta Fed Bank President Raphael Bostic said on Tuesday the central bank did not need to raise borrowing costs any further, and Minneapolis Fed President Neel Kashkari followed with similar remarks later in the day. U.S. Treasury yields have similarly tracked lower following the dovish Fed comments, with the two-year yield , which typically reflects near-term rate expectations, hitting a one-month low of 4.9260% on Tuesday. The offshore yuan , which touched a roughly one-month high of 7.2700 per dollar on Tuesday, last bought 7.2839.

Persons: Rick Wilking, Raphael Bostic, Neel Kashkari, Sterling, Thierry Wizman, Carol Kong, CBA's, Rae Wee, Jamie Freed Organizations: REUTERS, Rights, Treasury, dovish, Atlanta Fed Bank, Minneapolis Fed, U.S, Commonwealth Bank of Australia, New Zealand, Bloomberg, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Asia, CHINA, China

☆ Shares of dialysis providers drop after Ozempic's early kidney trial success
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The outdoor sign seen at the DaVita Dialysis clinic in Denver February 16, 2016. U.S.-listed shares of Fresenius fell 16.4%, to $17.5, and Davita fell about 16%, to $76.7, in premarket hours. Shares of U.S.-based Baxter International (BAX.N), which makes products used by dialysis therapy providers, also fell about 9%, to $33.99 premarket. Davita and U.S.-listed shares of Fresenius Medical are among the top percentage losers on the New York Stock Exchange. As of Tuesday's close, U.S.-listed shares of Fresenius were up about 28.2%, Davita's shares were up 22.2%, while Baxter's shares were down about 27% so far this year.

Persons: Rick Wilking, Ozempic, Danish drugmaker, Veronika Dubajova, Davita, Eli Lilly's, Akash Tewari, Fresenius, Mariam Sunny, Janane Venkatraman, Pooja Desai Organizations: REUTERS, Novo Nordisk's, Citi, Baxter, Jefferies, Fresenius, New York Stock Exchange ., Thomson Locations: Denver, Danish, Fresenius, New York Stock Exchange . Frankfurt, U.S, Bengaluru

☆ Dollar pauses rally as markets brace for US nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rick Wilking, Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Reserve Bank of New Zealand

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