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Aug 13, 2022; Toronto, ON, Canada; Beatriz Haddad Maia (BRA) watches her return to Karolina Pliskova (not pictured) in the semi-finals of the National Bank Open at Sobeys Stadium. Mandatory Credit: John E. Sokolowski-USA TODAY SportsAug 15 (Reuters) - Brazil's Beatriz Haddad Maia said she was hoping to inspire the soccer-mad country's youth into taking up tennis after breaking into the top 20 of the women's world rankings. read more"We are not a lot of players from (South America) because, you know, it is less opportunities, it is less tournaments," Haddad Maia, who this week became the first Brazilian to reach the quarter-finals of a WTA 1000 event, told reporters. It's not easy being a Brazilian to play here and to build our tennis level around the tour. Sometimes they scream a little bit more," Haddad Maia said.
Persons: Beatriz Haddad Maia, Karolina Pliskova, John E, Brazil's Beatriz Haddad Maia, Haddad Maia's, Simona Halep, Haddad Maia, I'm, Maria Bueno, Gustavo Kuerten, Pele, Bia, Aadi Nair, Muralikumar Organizations: National Bank, Sobeys, Canadian, WTA, Sunday's, Thomson Locations: Toronto, ON, Canada, South America, Brazilian, Brazil, Bengaluru
Barcelona frustrated by gritty Rayo on Lewandowski's debut
  + stars: | 2022-08-14 | by ( ) www.reuters.com   time to read: +2 min
BARCELONA, Aug 13 (Reuters) - Robert Lewandowski's Barcelona debut ended in a disappointing 0-0 home draw with Rayo Vallecano at Camp Nou in their first LaLiga game of the season on Saturday. Barcelona dominated the match with almost 70% of possession and 18 goal attempts to two for Rayo. Barca coach Xavi Hernandez tried to break the deadlock by sending on forwards Ansu Fati and Pierre-Emerick Aubameyang from the bench, but Rayo showed real grit to hold out for the draw. Goalkeeper Stole Dimitrievski kept a clean sheet for the third consecutive time against Barcelona after Rayo won both games against the Spanish giants last season. "It will be a process, Rayo knew how to defend deep and hold on to their strategy with an outstanding discipline.
Persons: Robert Lewandowski's, Lewandowski, Alvaro Garcia, Marc Andre ter Stegen, Sergio Camello, shackling Lewandowski, Xavi Hernandez, Ansu Fati, Emerick, Rayo, Sergio Busquets, Falcao Garcia, Dimitrievski, Xavi, DAZN, Fernando Kallas, Ed Osmond Organizations: Rayo Vallecano, Camp Nou, Barca, FIFA, Raphinha, Rayo, Barcelona, Spanish, Thomson Locations: BARCELONA, Robert Lewandowski's Barcelona, Poland, Brazil, Barcelona, shackling, Pierre
Brazil's Eletrobras reports 45% drop in Q2 net profit
  + stars: | 2022-08-13 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Brendan McDermidAug 12 (Reuters) - Brazilian power company Eletrobras (ELET6.SA) on Friday reported its second-quarter net income fell 45%, hit by the provision for losses in investments. In the first earnings report since its privatization, Centrais Eletricas Brasileiras SA, as the company is formally known, posted a net income of 1.4 billion reais ($276.03 million). Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 6% to 4.861 billion reais from the previous year. Register now for FREE unlimited access to Reuters.com RegisterNet operating revenue reached 8.856 billion reais, up 19%. read more($1 = 5.0719 reais)Register now for FREE unlimited access to Reuters.com RegisterReporting by Peter FrontiniOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Peter Frontini Organizations: New York Stock Exchange, REUTERS, Brasileiras SA, Thomson Locations: New York, U.S, Eletrobras
Flavia Hagan said American did not return her son's passport and Green Card after his journey. American first told her it had the passport and Green Card but later said they could not be found. Flavia Hagan told Insider that the passport and Green Card were not returned to her and she only realized a week later when checking his bag. She now has to deal with immigration to get a replacement Green Card, which she said will be expensive. However, it did not offer to reimburse Hagan for the cost of a replacement passport and Green Card.
Persons: Flavia Hagan, Hagan Organizations: Service, American Airlines, Central Baggage, Card Locations: Austin , Texas, Recife, Brazil, Austin, American
A man walks by Argentina's central bank on July 4, 2022 in Buenos Aires. Prices rose 7.4% in July, pushing annual inflation to a 20-year high of 71%. Argentina's central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid on spiraling inflation that rose to a 20-year high of 71%, according to new data. New inflation data on Thursday underscored the urgency driving economic policy: Prices rose 7.4% in July, above expectations and pushing annual inflation to a 20-year high of 71%. Mexico's annual inflation climbed last month to 8.15%, a level not seen since December 2000.
Persons: Alberto Fernandez's Organizations: Southern Locations: Buenos Aires, United States, Brazil, Mexico
BUENOS AIRES, Aug 11 (Reuters) - Argentina's central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid on spiraling inflation that rose to a 20-year high of 71%, according to new data. The central bank raised the benchmark 'Leliq' rate for the 28-day term to 69.5% from 60%, a rate the bank set just two weeks ago when it hiked the rate by 800 basis points and the government shuffled its Cabinet to install a new economy "superminister." New inflation data on Thursday underscored the urgency driving economic policy: Prices rose 7.4% in July, above expectations and pushing annual inflation to a 20-year high of 71%. In Mexico, the central bank on Thursday also raised the country's benchmark interest rate three-quarters of a percentage point to 8.5%, its highest level since the bank's current regime was put in place in 2008. A positive real interest rate is one of the points agreed between Argentina and the International Monetary Fund (IMF) in a recent $45 billion debt deal.
Persons: Alberto Fernandez's, Sergio Massa, Massa, Vaca Muerta, Walter Bianchi, Kylie Madry, Brendan O'Boyle, Anthony Esposito, Christian Plumb, Sandra Maler Organizations: Southern, International Monetary Fund, Thomson Locations: BUENOS AIRES, United States, Brazil, Mexico, Argentina
Buenos Aires Argentina's central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid on spiraling inflation that rose to a 20-year high of 71%, according to new data. New inflation data on Thursday underscored the urgency driving economic policy: Prices rose 7.4% in July, above expectations and pushing annual inflation to a 20-year high of 71%. The month saw the resignation of President Alberto Fernandez's longtime finance minister followed by the ouster of his replacement. The numbers dashed hopes that this week's optimistic inflation reports in the United States and Brazil might portend good news for the Southern Cone's largest economy. Mexico's annual inflation climbed last month to 8.15%, a level not seen since December 2000.
Persons: Alberto Fernandez's, Read Organizations: Southern Locations: Buenos Aires, United States, Brazil, Mexico
Under these assumptions, the balance sheet will shrink by some $2.2 trillion by the end of 2024 through capping reinvestments. Powell has already said he thinks the bond market can handle QT, but market liquidity has been very poor recently. Powell and colleagues may cast an eye over the Atlantic to gauge the market impact from QT. The Bank of England is further down the road on reducing its balance sheet, and is about to begin actively selling bonds. 'Team Transitory' re-emerges (Aug 3) read more(The opinions expressed here are those of the author, a columnist for Reuters.)
Persons: Jerome Powell, Elizabeth Frantz, Jackson, There's, Powell, Janet Yellen, Kansas City Fed's, Joseph Wang, Wang, Roberto Perli, Benson Durham, Piper Sandler, Jamie McGeever, David Holmes Organizations: Federal, Market, REUTERS, U.S, Kansas City, Treasury, Fed, Bank of England, Reuters, Thomson Locations: Washington , U.S, Fla, Federal, Wyoming, Kansas
Brazil's central bank chief predicts end of credit cards
  + stars: | 2022-08-12 | by ( ) www.reuters.com   time to read: +2 min
BRASILIA, Aug 12 (Reuters) - Brazil's central bank chief Roberto Campos Neto on Friday said he believes credit cards will cease to exist soon due to the growth of the open finance system, through which clients authorize financial data sharing with different institutions. Open finance is a central bank project that has been implemented in phases since 2021. I think that credit cards will cease to exist at some point soon," said Campos Neto, noting that banks have already started using Pix to offer credit. According to Campos Neto, Pix could first expand "at least" to Latin America. According to the central bank chief, regulators in Brazil want to ensure cryptocurrencies have transparency in how they are traded, created and transacted.
Persons: Roberto Campos Neto, Campos Neto, Pix, Marcela Ayres, Mark Porter, Philippa Fletcher Organizations: cryptocurrencies, Thomson Locations: BRASILIA, America, Canada, Brazil
More than 31,000 cases of monkeypox have been reported globally since January 1, more than 10,000 of them in the United States . According to the latest numbers from the World Health Organization, there have been two monkeypox deaths in Spain, one in Brazil, one in Ecuador and one in India -- all so-called nonendemic countries . Lewis says WHO has asked every country for more information on the circumstances surrounding any monkeypox deaths. Before they got monkeypox, they were healthy, with no underlying risk factors for severe diseasesuch as a weakened immune system. The severity of monkeypox disease probably depends on a person's underlying health, the health-care resources they have access to and the strain of the virus they're infected with.
Persons: hae, Rosamund Lewis, Lewis, Isabel Jado, Andrea McCollum, McCollum, Dr, Sanjay Gupta Organizations: CNN, World Health Organization, WHO, Spain's National Institute for Microbiology, US Centers for Disease Control, monkeypox, CNN Health Locations: Africa, United States, Spain, Brazil, Ecuador, India, comas, West Africa, Congo, Nigeria
Brazil's Cosan posts $25 million Q2 net loss
  + stars: | 2022-08-12 | by ( ) www.reuters.com   time to read: +1 min
The company logo for Cosan is displayed on a screen on the floor of Brazil's B3 Stock Exchange in Sao Paulo, Brazil, July 25, 2019. REUTERS/Amanda PerobelliSAO PAULO, Aug 12 (Reuters) - Brazilian holding company Cosan SA (CSAN3.SA) on Friday reported a net loss in second quarter, as a higher interest rate raised its cost of debt. Cosan, who owns stakes in companies such as Rumo (RAIL3.SA) and Raizen (RAIZ4.SA) posted a 125.3 million real ($24.72 million) net loss in the three months ended in June 30, compared with a net profit of 942.4 million reais in the year-ago period. Cosan's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 34.5% in the quarter, to 4.14 billion reais. ($1 = 5.0697 reais)Register now for FREE unlimited access to Reuters.com RegisterReporting by Peter Frontini; Editing by Christian PlumbOur Standards: The Thomson Reuters Trust Principles.
Persons: Amanda Perobelli, Peter Frontini, Christian Plumb Organizations: REUTERS, PAULO, Cosan SA, Thomson Locations: Sao Paulo, Brazil
Rising global food prices and shortages of grain and fertilizer stemming from the war in Ukraine could create further economic turmoil, risk analysts said. Still, risk analysts say they are keeping a close eye on global food prices. Fertilizer prices have reached record highs, with far-reaching consequences for farmers, agricultural yields and food prices. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. “I do think the circumstances in the short term will be extremely difficult.”Mr. Robson added that in the longer term—12 to 18 months—steps could be taken to increase global food production and improve the situation.
Persons: , Srdjan Todorovic, Nick Robson, McLennan Cos, , Jimena Blanco, WSJ’s Patrick Thomas, Ryan, Marsh, Mr, Robson, Verisk, Ms, Blanco, Allianz’s Mr, Todorovic, Laura Burns, Richard Vanderford Organizations: Allianz Global Corporate, Specialty, Allianz, Marsh, United, Food and Agriculture Organization, United Nations Locations: Ukraine, Germany, London, Marsh, United Nations, Americas, Peru, Greece, Sri, Sri Lanka, Russia, North Africa, Asia, Turkey, Brazil
Food and fertilizer shortages, which are still stinging nearly six months after Russia invaded Ukraine, could drive countries already facing economic trouble into civil unrest, experts said. Fertilizer prices have reached record highs, with far-reaching consequences for farmers, agricultural yields and food prices. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. “I do think the circumstances in the short term will be extremely difficult.”Mr. Robson added that in the longer term—12 to 18 months—steps could be taken to increase global food production and improve the situation. Businesses are increasingly using technology to examine their supply chains to determine how unrest might impact their operations, said Verisk Maplecroft’s Ms. Blanco.
Persons: , Srdjan Todorovic, , Jimena Blanco, WSJ’s Patrick Thomas, Ryan, Gotabaya, Marsh, Nick Robson, Mr, Robson, Verisk, Ms, Blanco, Allianz’s Mr, Todorovic, Laura Burns, Richard Vanderford Organizations: Allianz Global Corporate, Specialty, United, Food and Agriculture Organization, United Nations, World Bank ., Sri, Locations: Russia, Ukraine, United Nations, East, North Africa, Americas, Belarus, Peru, Greece, Sri, Asia, Turkey, Brazil, London, Marsh
Indian companies are switching from the US dollar to Asian currencies to buy coal from Russia. India has become a large buyer of discounted Russian energy due to sanctions over the Ukraine war. In June, coal buyers in India paid for 44% of the coal it imported from Russia using non-dollar currencies, Reuters reported, citing a summary of deals compiled by a trade source based on customs documents. India has not overtly condemned Russia or imposed sanctions against it over the war in Ukraine. To get around Western sanctions, Russia and China are looking to establish alternatives to the US dollar hegemony.
Persons: They've, , it's, It's Organizations: Hong Kong, UAE, Reuters, Service, United, United Arab Emirates, Russia's Locations: Russia, India, Ukraine, Europe, China, United Arab, Brazil, Sri Lanka, Laos
It could also mean that the Fed's efforts to curb inflation are finally working and that a soft landing, where inflation is limited without toppling the economy into recession, is feasible. But inflation excluding food and energy prices is still very, very high compared to a year ago. Meanwhile, there's no guarantee energy prices will keep declining. The Federal Reserve, the central bank tasked with taming inflation in the United States, will be the first to admit that it has little control over energy costs. About those food pricesWe know food prices rose by another 1.1% last month, but it's hard to understand why they aren't coming down as fuel costs fall.
Persons: We're, Randall Kroszner, It's, there's, we're, Danielle Wiener, Bronner, Michael Gapen, Alibaba BABA JD.com JD, Price, Warby Parker Organizations: CNN, Federal Reserve, Fed, University of Chicago Booth School of Business, of Labor Statistics, Bank of America Global Research, Labor, TikTok Hospital, Amcare Healthcare, Amazon, Utz Brands, University of Michigan Locations: York, United States, Ukraine, Brazil, China
read moreAnalysts estimate the unit could be worth C$5 billion to C$11 billion ($8.61 billion). Petro-Canada's 1,600 stations account for 13% of Canada's fuel retail market, one of the country's top three players. The three companies jointly control 21% of Canada's fuel distribution market according to estimates from various industry sources. Shedding the retail business would mean Suncor loses a stable cash-generating business to hedge against volatile oil prices, said Mike Archibald, vice-president and portfolio manager at AGF Investments, a Suncor investor. Oil and gas companies have historically owned fuel retail stations because they ensure consistent sales volumes for their refineries, said Tony Portera, a partner at Boston Consulting Group.
Persons: Chris Wattie, Rafi Tahmazian, Petro, Calvin Goldman, Alimentation, Jason Parent, Parent, Phillips, Bob Espey, Elliott, Kris Smith, Suncor, Tahmazian, Mike Archibald, Tony Portera, Portera, Phil Skolnick, Skolnick, Divya Rajagopal, Rod Nickel, David Gregorio Our Organizations: REUTERS, TORONTO, Suncor Energy, Petro - Canada, Elliott Investment Management, Competition, Petro, Tard, Holdings Co, Parkland Corp, Signal Energy Consulting, Imperial, BP PLC, Phillips, BP, Canada, Bloomberg, AGF Investments, Elliott, Oil, Boston Consulting Group, Eight, Thomson Locations: Calgary , Alberta, Canada, Parkland, Petro, EBITDA
Monkeys are not to blame for the monkeypox outbreak that has triggered health alerts, including a national health emergency in the United States, as the viral disease has continued to spread, the World Health Organization said this week after reports of attacks against the animals in Brazil. At least 10 monkeys were rescued last week in São José do Rio Preto in the Brazilian state of São Paulo after the authorities found signs they had been attacked or poisoned, out of fear of monkeypox transmission, according to the G1 news site in that country. Seven of the monkeys later died. The police in São Paulo are investigating those cases and said the mistreatment of animals could be punishable by three months to one year in jail.
Persons: São Paulo Organizations: World Health Organization Locations: United States, Brazil, São, Rio Preto, Brazilian
The logo of retail Magazine Luiza S.A. is seen in their logistics center in Louveira, Brazil April 24, 2018. REUTERS/Paulo Whitaker To match Insight AMAZON.COM-BRAZIL/RIVALSSAO PAULO, Aug 11 (Reuters) - Brazilian retailer Magazine Luiza SA (MGLU3.SA) posted on Thursday an adjusted net loss of 112.1 million reais ($21.76 million), posting a loss for the second straight quarter as its bottom line was hurt by the country's high interest rates. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8% year-on-year to 492.1 million reais. Magazine Luiza posted a 1.3% growth in total sales to 13.92 billion reais. E-commerce sales grew 2% in the quarter to 10 billion reais.
Persons: Paulo Whitaker, Luiza, Roberto Bellissimo, Andre Romani, Anthony Esposito, Brendan O'Boyle Organizations: Luiza S.A, REUTERS, SAO PAULO, Magazine Luiza SA, Reuters, Thomson Locations: Louveira, Brazil, BRAZIL
Pro-democracy demonstrators take part in a march in support of two manifestos defending the nation's democratic institutions and electronic voting system, in Brasilia, Brazil August 11, 2022. REUTERS/Ueslei MarcelinoSAO PAULO, Aug 11 (Reuters) - Brazilian business leaders, intellectuals and artists gathered on Thursday to read manifestos defending democratic institutions after attacks by President Jair Bolsonaro that have raised fears he could reject the results of October's presidential election. His opponents say he is preparing the ground to contest the election results if he loses, as Trump has done since 2020. Several thousand demonstrators later marched along Sao Paulo's Paulista Avenue in support of democracy and chanting calls for Bolsonaro to stop threatening the voting system. The country's top newspapers canceled a presidential debate planned for Sept. 14 after the two main candidates did not confirm their participation.
Persons: Ueslei Marcelino, Jair Bolsonaro, Brazil's, Luiz Inacio Lula da Silva, Donald Trump, Trump, Raimundo Bonfim, Lula, Bolsonaro, Lisandra Paraguassu, Maria Carolina Marcello, Anthony Boadle, Brad Haynes, Richard Chang, Deepa Babington Organizations: REUTERS, Ueslei, Ueslei Marcelino SAO PAULO, University of Sao, Sao Paulo's, Bolsonaro, Reuters, Thomson Locations: Brasilia, Brazil, Paulo's, Bolsonaro, Sao, Sao Paulo's Paulista, Sao Paulo
Brazil's Petrobras puts potash mining rights up for sale
  + stars: | 2022-08-11 | by ( ) www.reuters.com   time to read: +1 min
The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo WhitakerSAO PAULO, Aug 11 (Reuters) - Brazil's Petrobras (PETR4.SA) said on Thursday it has begun the process of looking for bidders for its potassium mining rights in the Amazon basin. The asset is composed of eight mining concessions, four mining requests already granted and 22 requests for research which are still pending authorization. Brazil's farm sector relies on imports for 85% of its fertilizer use. In March, Verde Agritech PLC (NPK.TO) said its board approved accelerated investment so it can boost output capacity and become Brazil's largest potash producer.
Persons: Paulo Whitaker, Peter Frontini, Christian Plumb, Tom Hogue Organizations: Petrobras Paulinia, REUTERS, Paulo, Paulo Whitaker SAO PAULO, Brazil's Petrobras, PETR4, Verde Agritech PLC, Thomson Locations: Paulinia, Brazil, Ukraine, Verde
The World Health Organization is urging the public not to attack monkeys amid the monkeypox outbreak, following reports that primates have been poisoned and killed in Brazil. The Environmental Military Police in Brazil believe the poisonings were perpetrated by people, out of a fear of monkeypox, G1 reported. He told G1 that cases of stoning, persecution and poisoning of monkeys have been recorded in several places in Brazil as monkeypox cases have risen. Monkeypox is not primarily transmitted by monkeys; rather, until the current outbreak, the virus was most commonly found in and spread by rodents. In the current outbreak, cases of monkeypox outside the 11 African countries where the disease is endemic began to be reported in early May.
Persons: Margaret Harris, São Paolo, monkeypox, Harris, Dener Giovanini, Giovanini, Tedros Adhanom Ghebreyesus Organizations: World Health Organization, WHO, Environmental Military Police, Civil Police, Centers for Disease Control, National Network to Combat, NBC News, CDC Locations: Brazil, Geneva, São, Rio Preto, Denmark, U.S
Smoke from a fire rises into the air as trees burn amongst vegetation in Brazil's Amazon rainforest, in Apui, Amazonas state, Brazil, September 5, 2021. read moreThings could worsen this month, as Brazil's fires traditionally peak in August and September. Unlike wildfires in Europe or the United States, fires do not occur naturally in the humid, tropical Amazon rainforest. Register now for FREE unlimited access to Reuters.com RegisterWHY ARE BRAZIL'S FIRES SO BAD AT THIS TIME OF YEAR? IS CLIMATE CHANGE AFFECTING AMAZON FOREST FIRES?
Persons: Bruno Kelly, Jair Bolsonaro, Bolsonaro, Luiz Inacio Lula da Silva, Jake Spring, Gloria Dickie, Katy Daigle Organizations: Amazon, Thomson Locations: Apui, Amazonas, Brazil, Europe, United States, Sao Paulo, London
The Pemex logo is seen at its headquarters in Mexico City, Mexico April 20, 2020. The sources at Pemex (PEMX.UL) did not offer details on how the damages from the scandal would be calculated or give an estimate. In March 2021, Pemex said it had suspended its commercial relationship with Vitol after the oil trader admitted to paying bribes to retain business in Mexico. Later that month, Vitol did reveal the names and since then conversations have been progressing towards resuming trade between the two firms, the two Pemex sources said. Another senior source at Pemex confirmed that talks were happening but that nothing had been closed neither on new contracts or older ones.
Persons: Edgard Garrido, Pemex, Vitol, Andres Manuel Lopez Obrador, Ana Isabel Martinez, David Gregorio Our Organizations: REUTERS, Reuters, Thomson Locations: Mexico City, Mexico, MEXICO, United States, U.S, Brazil, Ecuador
Head of Congress and former Paraguay's President Fernando Lugo talks to the media before a meeting at the Congress in Asuncion, Paraguay August 14, 2017. REUTERS/Jorge Adorno/File PhotoASUNCION, Aug 10 (Reuters) - Former Paraguayan President Fernando Lugo is in a medically induced coma after suffering a stroke and is in stable condition, party officials said Wednesday. Doctor and legislator Jorge Querey said that Lugo, who is also currently a senator, was hospitalized after an ischemic stroke and that initial studies indicated Lugo suffered a "relatively small" injury. Querey said doctors will perform an MRI exam on Lugo to see the extent of the stroke's damage. Register now for FREE unlimited access to Reuters.com RegisterReporting by Daniela Desantis; Writing by Kylie Madry; Editing by Rosalba O'Brien and Alistair BellOur Standards: The Thomson Reuters Trust Principles.
Persons: Fernando Lugo, Jorge Adorno, Jorge Querey, Lugo, Querey, Hodgkin, Daniela Desantis, Kylie Madry, Rosalba O'Brien, Alistair Bell Organizations: REUTERS, Frente Guasu, Thomson Locations: Asuncion, Paraguay, ASUNCION, Paraguayan, Brazil, Lugo
From a banking sector perspective, the inverted curve, combined with near-9% inflation and post-2008 regulation - the deepest, highest, and toughest in decades, respectively - offers cause for concern. A deeply inverted curve puts a damper on margin expansion. But although the yield curve compressed and briefly inverted in April-June, it was still mostly positive sloping. It is worth noting that during the last two recessions of 2007-09 and 2020, banks' loan provisions topped $60 billion a quarter. 'Team Transitory' re-emerges (Aug 3) read more- Fed may face yield curve, recession 'mea culpa' (June 2)(The opinions expressed here are those of the author, a columnist for Reuters.)
Persons: Andrew Kelly ORLANDO, Banks, Christopher Wolfe, American Banks, Wolfe, Christopher Whalen, Whalen, Morgan Stanley's Betsy Graseck, JP, Jamie McGeever, Diane Craft Organizations: New York Stock Exchange, REUTERS, Treasury, Fitch, Bank of America, National Bureau of Economic Research, Whalen Global Advisors, JP Morgan, Citi, Reuters, Thomson Locations: Manhattan , New York City, U.S, Fla, American, New York
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