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Dollar edges lower ahead of U.S. inflation data
  + stars: | 2021-06-25 | by ( Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +3 min
LONDON (Reuters) - The dollar drifted lower in Europe on Friday as an agreement on U.S. infrastructure spending underpinned appetite for riskier currencies, but caution ahead of key U.S. inflation data kept losses to a minimum. FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El GhanyThe risk-sensitive Antipodean currencies rose, as did the euro, gaining 0.1% to $1.1943, and the Japanese yen, which rose by about the same margin to 110.77 per dollar. “...The consensus is already expecting quite a large increase in the May PCE inflation data - looking for 3.9% YoY headline and 3.4% YoY core,” said strategists at ING in a note to clients. The Australian dollar rose 0.2% to $0.7595.
Persons: Mohamed Abd El Ghany, , John Williams, Khoon Goh, ” Goh, it’s, Bitcoin Organizations: REUTERS, Federal Reserve, Reuters, ING, New York Federal Reserve Bank, New Zealand, South Korean, ANZ, Bank of England, of England Locations: Europe, Cairo, Egypt, New, Asia, U.S, Mexico
MEXICO CITY, June 25 (Reuters) - Mexico is facing an “unprecedented situation” in terms of the shocks affecting inflation due to the COVID-19 pandemic and future interest rate moves will depend on the evolution of inflation, said Bank of Mexico Governor Alejandro Diaz de Leon. “Despite having a negative product gap, we are seeing multiple upward revisions in prices, shortages in different inputs and that’s because of COVID, not because of the economy’s traditional cyclical behavior,” said Diaz de Leon. “We’re in an unprecedented situation in terms of the shocks that are affecting inflation.”Diaz de Leon, whose term as governor concludes at the end of 2021, said the rate hike would contribute to bringing inflation towards the bank’s 3% target, plus or minus one percentage point. With Mexican consumer prices rising 6.02% in the year through the first half of June, Banxico now expects headline inflation to converge to its target during the third quarter of 2022. Banxico’s board deliberately avoided giving guidance on future monetary policy actions because future rate moves will depend on the evolution of inflation, and Thursday’s rate decision was fundamentally aimed at avoiding contaminating inflation expectations and the price formation process, Diaz de Leon said.
Persons: Alejandro Diaz de Leon, Banxico’s, Diaz de Leon, , , ” Diaz de Leon, Banxico, Anthony Esposito, Mark Potter Organizations: MEXICO CITY, Bank, Mexico, Bank of, Reuters Locations: MEXICO, Mexico, United States, Bank of Mexico
WASHINGTON — Vice President Kamala Harris, after weeks of pressure from her political opponents, will visit the U.S.-Mexico border Friday, as part of her role addressing the root causes of migration. "[Harris' trip to the border] is really about building on the work that she has been doing. Republicans criticized Harris' decision to visit El Paso rather than other parts of the state like, the Rio Grande Valley, which see significantly more border crossings. Although partisan politics are likely to hang over Harris' trip Friday, she will also be forced to confront major policy issues. Rohini Kosoglu, domestic policy adviser to the vice president and one of Harris' longest serving aides, said that Harris "has spent her career fighting for immigrants."
Persons: WASHINGTON, Kamala Harris, Harris, Alejandro Mayorkas, Sen, Dick Durbin, Veronica Escobar, Sanders, Joe Biden, , Donald Trump, Greg Abbott, Jen Psaki, Abbott, El Paso, Trump, Biden, Tyler Moran, Rohini Kosoglu Organizations: El, El Paso Central Processing Center, Customs, Protection, Department of Homeland, Republicans, NBC, Texas Gov, House Republican, White, Republican, Biden, Domestic Locations: U.S, Mexico, El Paso, Illinois, Texas, Central America, Guatemala, Europe, Rio Grande, El, California, United States, Covid
FOREX-Dollar dips, but with a wary eye on U.S. inflation data
  + stars: | 2021-06-25 | by ( Tom Westbrook | ) www.reuters.com + 0.00   time to read: +3 min
The risk-sensitive Antipodean currencies rose very slightly, while the euro gained 0.1% to $1.1940 and the yen rose by about the same margin to 110.80 per dollar. “The dollar can jump if inflation surprises to the upside,” said Joe Capurso, head of international economics at the Commonwealth Bank of Australia in Sydney. “Upside inflation surprises have been the trend in the U.S. recently,” he added. The Australian dollar rose 0.1% to $0.7591. Bank of England policymakers even warned against “premature tightening” and the pound was the worst performing G10 currency on Thursday.
Persons: , Joe Capurso, John Williams, Khoon Goh, ” Goh, it’s, Bitcoin Organizations: Federal Reserve, Commonwealth Bank of Australia, U.S ., Reuters, New York Federal Reserve Bank, New Zealand, South Korean, ANZ, Bank of England, of England Locations: 2RBWI5E SINGAPORE, Asia, Sydney, U.S, New, Mexico
Vice President Kamala Harris Heads to Border Facing Bipartisan Pressure
  + stars: | 2021-06-25 | by ( Tarini Parti | ) www.wsj.com sentiment -0.94   time to read: +1 min
President Biden tapped Ms. Harris to lead diplomatic efforts aimed at stemming the flow of migrants and to improve access in the U.S. to voting. People close to Ms. Harris acknowledge that she has made some high-profile missteps in her first few months, at times overshadowing what they see as her accomplishments. A spokeswoman for the vice president declined to comment. Asked in a television interview earlier this month why she hadn’t visited the border, Ms. Harris noted that she also hadn’t been to Europe. She added: “I’m not discounting the importance of the border.” Some said Ms. Harris appeared to equate the two places and minimize the seriousness of the border situation.
Persons: Kamala Harris’s, Biden, Harris, hadn’t Organizations: Republicans, Democrats, Republican, Democratic Locations: U.S, Mexico, El Paso , Texas, Europe
LOS ANGELES — Conan O'Brien ended his 11-year run on TBS' "Conan" by touting the "intersection between smart and stupid." Conan O'Brien of TBS's CONAN speaks onstage during the WarnerMedia Upfront 2019 show at The Theater at Madison Square Garden in New York on May 15, 2019. Black also reminded O'Brien that his first-ever talk show appearance was on "Late Night with Conan O'Brien." "It's been a great way for me to hide my money in banks all around the world," O'Brien said. I think when smart and stupid come together, it's very difficult.
Persons: Conan O'Brien, Jack Black, Black, , gurney, TBS's CONAN, Dimitrios Kambouris, O'Brien, Carson, Letterman, Jack, Andy Richter, Johnny, Will Ferrell, Martin Short, Zack Galifianakis, Nicole Byer, Andy Samberg, Lea Delaria, Mary Kay, It's, O'Brien's, Liza, Sona Mouvsesian, Conan, Homer Simpson, O'Brien — Organizations: TBS, Madison, Largo Locations: New York, Boston, Cuba, South Korea, Armenia, Israel, Australia, Mexico, Ghana, Germany, Japan, Greenland, Italy
Dollar dips ahead of U.S. inflation data
  + stars: | 2021-06-25 | by ( Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +3 min
LONDON (Reuters) - The dollar drifted lower in Europe on Friday as an agreement on U.S. infrastructure spending underpinned appetite for riskier currencies, but caution ahead of key U.S. inflation data kept losses to a minimum. FILE PHOTO: A U.S. five dollar note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File PhotoThe risk-sensitive Antipodean currencies rose, as did the euro, gaining 0.1% to $1.1943, and the Japanese yen, which rose by about the same margin to 110.77 per dollar. “...The consensus is already expecting quite a large increase in the May PCE inflation data - looking for 3.9% YoY headline and 3.4% YoY core,” said strategists at ING in a note to clients. The Australian dollar rose 0.2% to $0.7595.
Persons: Thomas White, , John Williams, Khoon Goh, ” Goh, it’s, Bitcoin Organizations: REUTERS, Federal Reserve, Reuters, ING, New York Federal Reserve Bank, New Zealand, South Korean, ANZ, Bank of England, of England Locations: Europe, New, Asia, U.S, Mexico
That's how Los Angeles Times owner Patrick Soon-Shiong summed up the "cultural vision" that he shares with his new editor Kevin Merida. And compete for people who would not have thought about the LA Times before." The biotech billionaire acquired the LA Times three years ago. The WSJ reported in February that he was "exploring a sale of the Los Angeles Times." Who is the LA Times for?
Persons: Patrick Soon, Shiong, Kevin Merida, hasn't, Merida, I've, HBO Max Organizations: CNN, Los Angeles Times, Times, American, LA Times, Netflix, Google, Facebook, Big Tech, HBO Locations: Merida, California, Asia, Mexico, Canada
A refresher: Hunter Biden came under intense scrutiny during the 2020 campaign over everything from his business dealings to his struggles with substance abuse. ": A bipartisan group of 21 senators and President Joe Biden reached a major breakthrough in negotiations for an infrastructure bill. "There ain't going to be an infrastructure bill unless we have the reconciliation bill passed by the United States Senate," House Speaker Nancy Pelosi said Thursday. Biden, too, said of the infrastructure bill: "If this is the only thing that comes to me, I'm not signing it." "Big crowds in the Great State of Ohio this weekend for the Trump rally," Trump wrote in a Wednesday night statement about his planned Saturday rally outside Cleveland.
Persons: Grace Panetta, Brent Griffiths, Jordan Erb, Kamala Harris, Hunter Biden, Hunter's, They'd, Hillary, Pence, Mike Pence, Donald Trump, Ronald Reagan, Tom LoBianco, Joe Biden, Nancy Pelosi, Biden, I'm, Joe Raedle, Rudy Giuliani, Giuliani, It's, Trump, Cindy McCain, McCain, Republican Sen, John McCain, , Brian Dunhill, expats, , Anthony Bourdain, Brent Organizations: I'm, Twitter, GOP, HUNTER, DOJ, Republicans, Trump, Ronald, Hardcore Trump, United States Senate, FEMA, New York, FBI, Cleveland, ambassadorship, Senate, Republican, UN's Agencies, Food, Agriculture, , France, Yorker, Midwest, New Yorker Locations: Mexico, Delaware, Benghazi, Surfside , Florida, Florida, Miami, York, Great State of Ohio, Tulsa, Arizona, France, US, New, Vietnam
Live Covid-19 Live Updates: More U.S. States Try Lotteries to Tackle Vaccine Hesitancy Louisiana, where the inoculation rate has lagged significantly behind the national average, is among the latest to dangle cash prizes and scholarships in return for getting a shot. Six of the bottom eight states are in the South: They include Alabama, Arkansas, Georgia and Tennessee. The Biden administration has made a concerted push to overcome vaccine hesitancy, particularly in the South. In some states, he said, the lotteries coincided with making the vaccine available to teenagers, which could skew the numbers. He suggested comparing the vaccination rates in states with lotteries to those without them.
Persons: John Bel Edwards, Donna Edwards, Hilary Scheinuk, Edwards, , we’ve, they’ve, ” Mr, Biden, Jill Biden, Mike DeWine, DeWine, Mr, Dr, Mark Fendrick, , Fendrick, , Kate Brown, Charles Boyle, Brown, Boyle, ” Daniel E, Slotnik, Loren Elliott, Gladys Berejiklian, Dan Balilty, Chezy Levy, Anat Danieli, caseload, Naftali Bennett, Nachman Ash Organizations: States, Gov, Associated Press, New York Times, University of Michigan Center, Michigan, Oregonian, New, , ., The New York Times, Health Ministry, Pfizer, BioNTech, Oxford University, Israel’s Tourism Ministry Locations: Louisiana, Mississippi, Alabama , Arkansas, Georgia, Tennessee, North Carolina, Ohio, California , Illinois, Maryland, New Mexico, Washington, In Oregon, Oregon, , Oregon, Sydney, Australia’s, Australia, Credit, New South Wales, Israel, Tel Aviv, The New York Times JERUSALEM, Moderna
Harris visits U.S.-Mexico border amid criticism from Republicans
  + stars: | 2021-06-25 | by ( Nandita Bose | ) www.reuters.com + 0.00   time to read: +3 min
U.S. Vice President Kamala Harris delivers remarks at Clark Atlanta University in Atlanta, Georgia, U.S. June 18, 2021. It will be Harris' first visit to the border since becoming vice president five months ago. "The Vice President's trip to Guatemala and Mexico earlier this year was about the root causes, and this border visit is about the effects," Harris' spokesperson, Symone Sanders, said. During the trip, Harris said she would visit the border in the near future but was focused on "tangible results" and "opposed to grand gestures." As such, they are unlikely to stop their criticism of Biden's policies, even if Harris visits the border.
Persons: Kamala Harris, Jonathan Ernst WASHINGTON, Harris, Donald Trump, Symone Sanders, Theresa Cardinal Brown, Alejandro Mayorkas, Dick Durbin, Texas Veronica Escobar, Nandita Bose, Ted Hesson, Kieran Murray, Raju Gopalakrishnan Organizations: Clark Atlanta University, REUTERS, White, Reuters, Center, Department of Homeland Security, Democratic Representative, Thomson Locations: Atlanta , Georgia, U.S, Mexico, El Paso , Texas, Central America, Guatemala, California, United States, Washington, El Paso, Texas
Branson's Virgin Galactic gets FAA approval to fly people to space
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.97   time to read: +1 min
Sir Richard Branson stands on the floor of the New York Stock Exchange ahead of the start of trading in Virgin Galactic in New York, Oct. 28, 2019. REUTERS/Brendan McDermidJune 25 (Reuters) - Billionaire Richard Branson's spaceship company Virgin Galactic Holdings Inc (SPCE.N) said on Friday it received approval from the U.S. aviation safety regulator to fly people to space, following a successful test flight last month. Virgin Galactic completed its first manned space flight from its new home port in New Mexico in May, as its SpaceShipTwo craft, which can hold six passengers, glided to a landing on a runway safely with its two pilots. read moreThe approval from the Federal Aviation Administration (FAA) comes at a critical time for Branson as his space venture faces competition from Amazon.com (AMZN.O) founder Jeff Bezos' Blue Origin. "Today's approval by the FAA...give us confidence as we proceed toward our first fully crewed test flight this summer," Virgin Galactic Chief Executive Officer Michael Colglazier said in a statement.
Persons: Sir Richard Branson, Brendan McDermid, Richard Branson's, Branson, Jeff Bezos, Michael Colglazier, Ankit, Devika Organizations: New York Stock Exchange, Virgin Galactic, REUTERS, Virgin Galactic Holdings Inc, U.S, Federal Aviation Administration, FAA, Thomson Locations: New York, New Mexico, Bengaluru
Deepak Chhugani was in pretty much the same position with his startup, Nuvocargo. Forager and Nuvocargo are focused on helping truck freight cross the US-Mexico border, work that entails lots of scrutiny, paperwork, and compliance. In 2019, more than 6.5 million truck containers hauling goods worth $772 billion crossed the border. Truck border crossings in Laredo, Texas — by far the busiest crossing — dropped 23% in April 2020 compared to 2019. The trucking market tightened, supply chains frayed, and the sorts of goods crossing the border looked very different.
Persons: Robinson, Matt Silver, Deepak Chhugani, CH Robinson, Coyote, couldn't, Nuvocargo, Chhugani, hadn't, Forager, they're, Silver Organizations: Coyote Logistics, Redwood Logistics, , Convoy Locations: Mexico, United States, Laredo , Texas, Laredo
Live Updates: Harris Will Visit the U.S. Border with Mexico
  + stars: | 2021-06-25 | by ( Katie Rogers | ) www.nytimes.com + 0.00   time to read: +9 min
Live Live Updates: Harris Will Visit the U.S. Border with Mexico Vice President Kamala Harris will visit a migrant processing center in El Paso during her first visit to the U.S.-Mexico border since taking office. Vice President Kamala Harris departed Joint Base Andrews for a trip to El Paso on Friday. Along with Ms. Escobar, Ms. Harris is traveling with Senator Dick Durbin, the chairman of the Senate Judiciary Committee who has been involved in past attempts at bipartisan immigration reform. Ms. Harris is also traveling with Alejandro N. Mayorkas, the secretary of homeland security. Greg Abbott of Texas days after Ms. Harris visits.
Persons: Will, Kamala Harris, Biden, Harris, Base Andrews, Jacquelyn Martin, Veronica Escobar, , We’ve, , Ms, Escobar, Dick Durbin, Alejandro N, Sanders, Lester Holt, Donald J, Trump, Greg Abbott, Trump’s, Mr, Abbott, Rohini Kosoglu, Rachel, Nev, Roger Kisby, Marco Rubio, Chris Impey, Impey, Mick West, West, ’ that’s Organizations: Mexico, Base, ., Associated Press, Customs, Protection, U.S, Democrat, El, Committee, U.S . Customs, El Paso Processing Center, NBC, Gov, Walmart, House Republicans, Mr, ” Intelligence, The New York Times, Navy, Republican, Senate Intelligence Committee, Congress, Pentagon, University of Arizona Locations: U.S, El Paso, Mexico, Mexico City, Guatemala, Europe, Texas, United States, United States of America, Area, Russia, China, Marco Rubio of Florida, U.F.O
Kansai Electric faces pressure from shareholders to decarbonise
  + stars: | 2021-06-24 | by ( Aaron Sheldrick | ) www.reuters.com sentiment -0.78   time to read: +2 min
TOKYO, June 24 (Reuters) - Some Kansai Electric Power shareholders, including Nordea Asset Management and KLP, say they will back a resolution opposed by the board requiring the Japanese electricity supplier to decarbonise to meet international targets on climate change. The resolution put forward by the City of Kyoto, which owns a stake in Kansai and gave its name to the first international climate change agreement, requires Kansai Electric to stop building new coal plants and to use carbon capture and storage for its existing coal stations, a city official told Reuters earlier. Kansai Electric did not immediately respond to a request for comment. Kansai Electric which serves Osaka and its industrial environs - an area with roughly the same economic output as Mexico - this week restarted an old reactor that had to get special approval to remain in operation. AkademikerPension of Denmark will also back the resolution, its CEO, Jens Munch Holst, said.
Persons: Nordea, ” Eric Christian Pedersen, , Kiran Aziz, Jens Munch Holst Organizations: Kansai Electric Power, Nordea Asset Management, City, Kansai Electric, Reuters, Kansai Electric Power Company, Electric Locations: TOKYO, Europe, United States, Japan, Kyoto, Kansai, Danish, Osaka, Mexico, KLP, Denmark
The peso rose 1.7% to a two-week high as the Mexican central bank, commonly known as Banxico, raised its benchmark lending rate by 25 basis points to 4.25% to protect from the adverse effects on inflation expectations. The decision follows a hawkish tilt from the U.S. Federal Reserve last week, which signaled higher rates could come sooner than previously planned. Latam stocks also rose, with MSCI's index of regional stocks rising 1.7%, outpacing the broader emerging market index. Focus was also on Argentine markets, with index provider MSCI expected to provide an update after the U.S. market close on whether Argentina can remain part of its benchmark emerging market index. Ejection from the MSCI emerging market index could also result in outflows of $610 million from Argentinian stocks, JPMorgan calculated.
Persons: Shreyashi Sanyal, Ambar Warrick, Nikhil Sanghani, Dan Grebler, Nick Zieminski Organizations: American, U.S . Federal Reserve, Capital Economics, U.S, JPMorgan, Brazil Bovespa, Mexico IPC, Argentina MerVal 67058.44, Chile Locations: Brazil, Argentina, Mexican, America, Mexico, U.S, Chile, Colombia, Peru
Mexico's central bank delivers own 'hawkish surprise' with rate hike
  + stars: | 2021-06-24 | by ( Anthony Esposito | ) www.reuters.com sentiment -0.97   time to read: +2 min
Three of the bank’s board members voted for the hike, while two members voted to leave the rate unchanged at 4.0%. The surprise decision follows a hawkish tilt from the U.S. Federal Reserve last week, which signaled higher rates could come sooner than previously planned. Some market observers had speculated that changes implemented on the board of Banxico since 2018 had made it less inclined to move quickly despite stubbornly high inflation. “It wasn’t the best management of market expectations, but the hike was necessary to anchor inflation expectations,” Joel Virgen, an independent analyst who previously was chief economist for Mexico at Citibanamex and BNP Paribas, said on Twitter. Mexico’s peso extended gains after the unexpected rate hike and was up as much as 2% on the day versus the U.S. dollar.
Persons: ” Joel Virgen, ” Banxico, Banxico, Andres Manuel Lopez Organizations: MEXICO CITY, Bank of Mexico’s, U.S . Federal Reserve, BNP, Twitter, U.S . Locations: MEXICO, United States, Mexico, Citibanamex
The peso rose about 0.7%, with the Mexican central bank widely expected to stand pat on rates. Sentiment toward emerging markets improved after U.S. weekly jobless claims fell much less than expected, while new orders for U.S.-made capital goods unexpectedly fell in May. Latam stocks also rose, with MSCI's index of regional stocks rising 0.9% and outpacing the broader emerging market index. Focus was also on Argentine markets, with index provider MSCI expected to provide an update after the U.S. market close on whether Argentina can remain part of its benchmark emerging market index. Ejection from the MSCI emerging market index could also result in outflows of $610 million from Argentinian stocks, JPMorgan calculated.
Persons: Ambar Warrick, Dan Grebler Organizations: Federal Reserve, Credit Suisse, U.S, JPMorgan, Brazil Bovespa, Mexico IPC, Argentina MerVal 66167.57, Chile, Argentina Locations: Argentina, Mexican, Brazil, Chilean, U.S, Mexico, Chile, Colombia, Peru
CHICAGO — Doug Emhoff said in his first one-on-one interview as second gentleman that Vice President Kamala Harris has likely been treated differently because she is a woman of color and defended Harris from Republican criticism on her role addressing the root causes of migration. Emhoff shrugged off suggestions that Harris' decision to go to the border now was motivated in part by the former president. "I'm only in this role because the country elected the first woman vice president and that happens to be my wife, Kamala Harris. "Kamala Harris has had a long history with the Jewish community, not just because she married me. As for whether he and Harris have discussed a second presidential run, Emhoff said they are "not talking about that."
Persons: Doug Emhoff, Kamala Harris, Harris, Emhoff, NBC's Lester Holt, Donald Trump, I'm, I've, We've Organizations: CHICAGO, NBC, White House, Republicans, U.S . Naval Observatory, Georgetown University Law Center, Secret Service Locations: U.S, Mexico, Chicago, Los Angeles
EM stocks rose slightly, with the MSCI’s index adding about 0.2%, tracking overnight gains on Wall Street. Relative stability in equities has also made them more attractive in comparison to foreign exchange, particularly in emerging markets. In central Europe, the Czech crown was flat to the euro after marking its best day in more than two months on Wednesday, as the Czech central bank kicked off a rate hiking cycle. An interest rate decision in Mexico is also due later in the day, with the bank widely expected to hold. For GRAPHIC on emerging market FX performance in 2021, see tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see tmsnrt.rs/2OusNdXFor TOP NEWS across emerging marketsFor CENTRAL EUROPE market report, seeFor TURKISH market report, seeFor RUSSIAN market report, see
Persons: Russia’s, Jerome Powell, Charalambos Pissouros Organizations: U.S . Federal Reserve, Fed, JFD, Bank of, CENTRAL Locations: Hungarian, Europe, East, Africa, United, Czech, Hungary, Mexico
MORNING BID-Weighing in on the T-debate
  + stars: | 2021-06-24 | by ( Reuters Staff | ) www.reuters.com sentiment -0.95   time to read: +2 min
Post-Fed market action hasn’t exactly been straightforward and one week after the bank kicked off tapering talk and signalled a 2023 rate hike investors are still trying to make full sense of it. So while investors assess Fed’s policy shift, the focus today moves to the Bank of England with the pound holding below a two-year high hit earlier this month. Finally Germany’s IFO will also be eyed for more insight into the strength of business climate in Europe’s No.1 economy. In corporate news, private equity firm Blackstone has sweetened its buyout offer for St. Modwen Properties to 1.25 billion pounds. * U.S. data: May durable goods, Q1 GDP, Core PCE prices* Emerging markets: Philippines, Mexico rate decisions* U.S. 7-year note auction
Persons: Danilo Masoni ., policymaker, Andy Haldane, Germany’s, Panetta, Schnabel Organizations: Nasdaq, PMI, Equity, Bank of England, Blackstone, St Locations: Europe’s, Netherlands, Spain, Germany, France, Philippines, Mexico
Luminar Technologies Inc., which makes sensors for autonomous cars, is looking to boost production while building up a cash cushion on its balance sheet. The Orlando, Fla.-based company took advantage of the investor frenzy for public listings by merging with a special-purpose acquisition company in December. As a public company, however, Luminar must be mindful of how it spends the cash, he added. Newsletter Sign-up CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Tom Fennimore serves as the chief financial officer for Orlando, Fla.-based Luminar Technologies.
Persons: Tom Fennimore, Luminar, Fennimore, , , Tristan Gerra, Robert W, Baird, Richard Shannon, Shannon, “ They’re, Kristin Broughton Organizations: Luminar Technologies Inc, Volvo, Zhejiang Geely Holding, Daimler, SAIC Motor Corp . Ltd, Technologies, Luminar Technologies, Mr, Celestica Inc, Co, IHS Markit, Luminar, Craig, Hallum, Aeva Technologies Locations: Orlando, Fla, Monterrey, Mexico, Canadian, Kristin.Broughton
‘I Carry You With Me’ Review: From Puebla to New York
  + stars: | 2021-06-24 | by ( Joe Morgenstern | ) www.wsj.com + 0.00   time to read: +4 min
That’s not the case for the heart-stricken hero of “I Carry You With Me,” which is opening in theaters in New York and Los Angeles in advance of its national release next month. The complex, often confusing narrative begins in 1994, in Puebla, Mexico, where Iván Garcia (Armando Espitia), a young man with outsize dreams, is washing dishes and doing other menial work in a modest restaurant. Iván’s struggle in a profession for which he feels he has a gift is one track of the story. The other is his passionate attraction to Gerardo Zabaleta (Christian Vazquez), a teacher he meets during a chance encounter in a club. We see Iván and Gerardo in flashbacks to their childhoods; Gerardo suffers terribly at the hands of a father who sees him as insufficiently masculine.
Persons: , , That’s, can’t, Iván Garcia, Armando Espitia, won’t, Gerardo Zabaleta, Christian Vazquez, Iván, Heidi Ewing, Alan Page Arriaga, Jesus, Rachel Grady, Ewing, eking, Gerardo, Espitia Locations: New York, Los Angeles, Mexican, Puebla, Mexico, , U.S
That prompted Mexico’s peso to depreciate some 5% versus the U.S. dollar in the following days, which experts said will be factored in by board members of Banxico, as the bank is known, at the Thursday monetary policy meeting. “Inflation pressures are still there, short-term expectations continue to be contaminated, and medium-term expectations are still above the central bank’s target,” Virgen said. Most market observers expect Banxico to hike rates in the coming months to stem inflationary pressures, although there is little consensus around when exactly that could occur. Some think that changes to Banxico’s board since 2018, giving it a dovish tilt, make it less inclined to move quickly. Since 2019, the bank had cut interest rates by 425 basis points, as the economy contracted even before the COVID-19 pandemic hit.
Persons: , , Joel Virgen, ” Virgen, Nikhil Sanghani, Anthony Esposito, Abraham Gonzalez, Kim Coghill Organizations: MEXICO CITY, Bank of, Federal, Fed, U.S, BNP, Capital Economics Locations: MEXICO, Bank of Mexico, Mexico, Citibanamex
Nicaragua's Ortega shrugs off global pressure in rare speech
  + stars: | 2021-06-24 | by ( ) www.reuters.com + 0.00   time to read: +3 min
A woman walks by a mural depicting Nicaragua's President Daniel Ortega in Managua, Nicaragua June 21, 2021. "The enemies of the revolution, the enemies of the people, are shouting how is it possible they're detained, how is it possible they're imprisoned, how is it possible they're being prosecuted," Ortega said in a speech, televised live. Ortega argued his administration was arresting and prosecuting criminals who were plotting a coup against him. The U.S. government has said it is prepared to review "trade-related activities" if elections are not free and fair. U.S. rights group Human Rights Watch this week said U.N. Secretary-General Antonio Guterres should raise the crisis with the Security Council.
Persons: Daniel Ortega, Stringer, Ortega, Ned Price, Anastasio Somoza, Antonio Guterres, Ismael Lopez, Anthony Esposito, Diego, Michael Perry Organizations: REUTERS, U.S . State Department, U.S, Human Rights, Security, Diego Ore, Thomson Locations: Managua, Nicaragua, MANAGUA, United States, U.S, Cuba, Soviet Union, Mexico City
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