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☆ Fintech has hit a bottom after plunge in valuations and squeeze on funding, execs and VCs say
▼ + stars: | 2024-06-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Executives and investors at the Money20/20 event in Amsterdam last week told CNBC that valuations have corrected from unsustainable highs from the industry's heyday in 2020 and 2021. Iana Dimitrova, CEO of embedded finance startup OpenPayd, told CNBC in an interview at the firm's booth that the market has "recalibrated." "Value is now ascribed to businesses that manage to prove there is a solid use case, solid business model," Dimitrova told CNBC. In 2021, global fintech funding reached an all-time peak of $238.9 billion, according to KPMG. Nanu added that the trend mimics the "craziness" fintech saw in terms of frothy valuations in 2020 and 2021.

Persons: Long, Dimitrova, Horacio Villalobos, Revolut, Prajit Nanu, fintech, Nanu, OpenPayd's Dimitrova, OpenPayd, Crypto, Andrea Pirlo, Fintech execs, they're, James Black, IVP, We've, Black, Charles McManus, Chris Ratcliffe Organizations: Bloomberg, Getty, AMSTERDAM, CNBC, RAI, KPMG, Companies, U.S ., ClearBank, Global Summit Locations: Amsterdam, Lisbon, Portugal, fintech, Italian, stablecoins

☆ Europe's climate ambitions thrown into doubt as Green vote collapses
▼ + stars: | 2024-06-10 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

That's significantly lower than the 71 seats the Greens/EFA secured when the green faction enjoyed its strongest ever showing five years ago. Nationalist and far-right parties — traditionally skeptical of climate issues — have also been vocal critics of green policies. Bas Eickhout Lead candidate for the Green PartyBas Eickhout, lead candidate for the Green Party, said that support for the far-right parties across the bloc could jeopardize Europe's progress on climate action. Green Deal 'cannot go back'Ahead of the vote, researchers warned that the outcome of the European elections was likely to put significant pressure on the European Green Deal, the region's showcase carbon neutrality program. Which means [the] Green Deal cannot go back, but we are prepared to give it this additional twist, which is a Green Deal, but taking care of the transitions," Marques told CNBC's Silvia Amaro.

Persons: Emmanuel Macron, —, we're, Eickhout, CNBC's Silvia Amaro, Ricarda Lang, Grünen, Terry Reintke, Omid, Reintke, Pedro Marques, Marques, Jorg Asmussen, Asmussen, CNBC's Annette Weisbach, John Macdougall Organizations: Afp, Getty, European Free Alliance, Greens, EFA, Democracy, European Union, European Conservatives, Social Democrats, Free Democrats, French, Union, Nationalist, Bas Eickhout, Green Party, Green, Green Deal, Socialist, Democrats Group, German Insurance Association Locations: The Hague, Germany, Austria, France, Bas, China, United States, Europe, European, Berlin's Columbiahalle, Denmark, Netherlands, Sweden, Finland, Croatia, Latvia, Slovenia, Lithuania, EU, den Linden, Berlin

☆ Gabby Douglas ended her bid to return to the Olympics. She’s still a champion in my eyes
▼ + stars: | 2024-06-01 | by ( Opinion Onnie Willis Rogers | ) edition.cnn.com time to read: +11 min

Her painful backstory was a good part of the reason why I, like many other gymnastics fans, pulled hard for Gabby Douglas when she announced her return to elite gymnastics. Had she made the team, Douglas would have been the oldest American woman to compete in gymnastics at the Olympics since 1952. Ross, a teammate of Douglas’ in London, was the youngest member of the “Fierce Five” that won team gold at that Olympics. And if she can’t make the national championships, she can’t make the US Olympic team. Dominique Moceanu, the diminutive, dynamic athlete on the “Magnificent Seven” 1996 Olympic gymnastics team, paralleled Douglas’ journey in some ways.

Persons: Onnie Willis Rogers, CNN —, Gabby Douglas, Onnie Willis Rogers Rogers, Douglas, Gabby, Alexandra Raisman, Madison Kocian, Lauren Hernandez, Simone Biles, David Ramos, Douglas ’, —, It’s, Kyla Ross, Ross, Bela Karolyi, Ronald Martinez, Karolyi, calculatingly, Martha, Larry Nassar, Nassar, Dominique Moceanu, Moceanu, ” Moceanu, Douglas soldiered, ”, Simone Biles —, won’t Organizations: UCLA, Northwestern University, CNN, London Olympics, Olympic, Getty, US Olympic, Bela, USA Gymnastics, Twitter, Facebook Locations: London, Rio de Janeiro, US, Fort Worth , Texas, Romanian, Texas, Rio ., Paris

☆ Fender benders mean serious high-tech repairs now
▼ + stars: | 2024-05-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

Virtually every new vehicle sold in the last few years has sensors and cameras, including radar and sonar, throughout the body of the vehicle. These have made the repair process more complex because, unlike a smashed fender, a sensor or camera can’t just be bolted or welded back on. Some of these systems can cut crash rates in half, said Greg Brannon, director of automotive engineering at AAA. In a crash, these sensors and cameras can be damaged or just knocked out of alignment. Claim adjustors, who often come from the collision repair industry themselves, need to understand all the nuances involved in repairing these automated systems and sensors.

Persons: It’s, ”, Todd Dillender, Greg Brannon, “ They’re, Brannon, “, Hami Ebrahimi, ” Ebrahimi, Ebrahimi, That’s, Dillender, adjuster, Mike Bunda, We’ve Organizations: CNN, Auto, AAA, Systems Locations: United States, Chicago, Seattle, New York

☆ Here are Thursday's biggest analyst calls: Nvidia, Meta, Tesla, IBM, UPS, Five Below, Amazon, TJX Companies and more
▼ + stars: | 2024-04-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Evercore ISI reiterates Nvidia as outperform Evercore ISI said investors should use any weakness in the stock to buy the dip. HSBC upgrades UPS to buy from hold HSBC said UPS is "getting back to earnings growth" following the company's earnings report. Bank of America downgrades Deckers to neutral from buy Bank of America said it sees a better risk/reward elsewhere in the firm's coverage. Bank of America reiterates IBM as buy Bank of America said it is sticking with its buy rating following earnings on Wednesday. Deutsche Bank reiterates Tesla as hold Deutsche Bank raised its price target on the stock to $136 per share from $123.

Persons: Sherwin, Williams, Bernstein, Goldman Sachs, Wells, Wells Fargo, Morgan Stanley, Ford, Needham, D.A, Davidson, ServiceNow, Tesla Organizations: Motors, GM, Nvidia, ISI, AMD, JPMorgan, Monster Beverage, Beverage, AMC, HSBC, UPS, USPS, Companies, UBS, UDR, Amazon, AWS, Bank of America, Meta, Laboratories, Manhattan Associates, IBM, Deutsche Bank Locations: 2Q24, Dearborn, Manhattan

☆ A rate cut in June is still on tap because the job market is weakening, Citi economist says
▼ + stars: | 2024-04-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

It's still likely the Fed will issue its first rate cut this June, Citi economist Veronica Clark said. That's because central bankers will need to support a weakening labor market, Clark told Yahoo Finance. AdvertisementThe Federal Reserve is still likely to cut rates in June in order to prop up the labor market amid a slowdown in hiring, according to Citi economist Veronica Clark. "We have a base case for June still," Clark said of rate cuts, though she noted a July Fed rate cut was also possible. Markets are now pricing in just one or two cuts by December, according to the CME FedWatch tool, down from as many as seven rate cuts projected at the start of 2024.

Persons: It's, Veronica Clark, Clark, —, That's, Powell Organizations: Citi, Yahoo Finance, Service, Bureau of Labor Statistics — Locations: Central

☆ Americans’ attitudes toward the economy hold steady despite disappointing inflation reports
▼ + stars: | 2024-04-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington CNN —Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either. The Federal Reserve cares whether or not Americans have faith that inflation will eventually return to levels they’re used to. Consumer prices were 3.5% higher in March from a year earlier, a much bigger increase than February’s 3.2% and above what economists were forecasting. On a monthly basis, consumer prices rose 0.4%, also above expectations. The economy is coming into focusEveryday Americans, on the other hand, haven’t fretted about progress on inflation potentially stalling.

Persons: haven’t, ”, Joanne Hsu, ” Oren Klachkin, Stocks, Goldman Sachs, “, ” Goldman Sachs’s, Jan Hatzius, they’re, Joe Biden, Biden, Donald Trump Organizations: Washington CNN, University of Michigan’s, Consumers, Nationwide, CPI, Bank of America, CNN Locations: Pennsylvania, Scranton , Pennsylvania

☆ BlackRock's Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal
▼ + stars: | 2024-04-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

(Photo by Sean Gallup/Getty Images)BlackRock CEO Larry Fink predicted Friday that the Federal Reserve likely will still cut interest rates this year but won't meet its inflation target. A report earlier this week showed inflation running at a 3.5% annual rate. Still, Fink expects the Fed to do some reductions this year while it may have to concede that inflation will remain elevated. "Inflation has moderated and we've always said inflation is going to moderate. Fink spoke the same day BlackRock reported quarterly earnings that topped Wall Street expectations both for profit and revenue.

Persons: Larry Fink, Sean Gallup, it's, Fink, we're, " Fink, we've Organizations: UNITED, Expo City, United Arab Emirates, Getty, Federal Reserve, Fed, Federal, BlackRock Locations: DUBAI, EMIRATES, Expo City Dubai, Dubai, United Arab

☆ Morgan Stanley tumbles, GE Healthcare climbs — what's driving Thursday's major portfolio stock moves
▼ + stars: | 2024-04-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Stocks, Banks, JPMorgan Chase, Jamie Dimon, Morgan Stanley, Bausch, Jim, Jim Cramer's Organizations: CNBC, Club, Citigroup, JPMorgan, Securities and Exchange Commission, U.S, Appeals, Federal Circuit, Health, Jefferies, Xifaxan, Bausch Health, Costco, GE Healthcare, Mizuho, Broadcom, Apple, Nvidia, Jim Cramer's Charitable Locations: Wells Fargo, BlackRock

Some Nevada Republicans say the story demonstrates Brown’s deeper understanding of the complexities of reproductive healthcare in a state where voters guaranteed the right to abortion through a referendum. They also hope it illuminates a gray area that many Republican women feel extends beyond “yes” or “no” answers on abortion rights. She said Nevada Republicans have no desire to overturn the state’s existing protections, unlike in Republican-led states like Texas and South Carolina. She also hopes the Browns’ announcement helps move abortion access, largely a winning issue for Democrats, “off the table” in the Senate race. When left to the states, women in Texas facing the same circumstances today would not have the options his wife had in the state in 2008.

Persons: —, Sam Brown's, “, ”, Pauline Ng Lee, Brown, Amy, Roe, Wade, Sam Brown, Democratic Sen, Jacky Rosen, Adam Laxalt, “ Amy, ” Rebecca Gill, Brown's, ” Gill, ” Lindsey Harmon, Democrat Rosen, doesn't, Brett Kavanaugh’s, Amy Brown’s, Republican Assemblywoman Danielle Gallant, She’s, Gallant, Amy Brown, Rosen, Adriana Gomez Licon, ____ Stern, Stern Organizations: —, Republican U.S, Republicans, GOP, Browns, U.S . Senate, Republican, Nevada Republican Club, Nevada Republicans, Senate, NBC News, Supreme, Democratic, Texas, Texas Legislature, NBC, Nevada, Associated Press, Army, University of Nevada, Parenthood, Democrat, America Statehouse News Initiative, America Locations: RENO, Nev, In Nevada, Nevada, Texas, South Carolina, Nevada's, In Texas, U.S, Afghanistan, San Antonio, Las Vegas, Parenthood Nevada, Carson City, Miami

☆ The cybercrime underworld has removed all the guardrails on the AI frontier, but the good guys are catching them there
▼ + stars: | 2024-03-11 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

More than half (55%) of all brand impersonation instances consisted of organizations' own brands in 2023, according to the Perception Point report. Tal Zamir, chief technology officer at Perception Point, discussed how criminals can now create polymorphic malware (or malware with many variations) at scale using AI and automation. Plus, they can defend against a wider swath of problems by feeding data into their existing models or generating new data sets using AI. Still, Grobman compares AI detection to weather forecasting, saying "When you're working in the world of AI, things are a lot less deterministic." Just as legitimate businesses are looking to AI to be more productive and more effective, so too are cybercriminals.

Persons: Taylor Swift, Steve Grobman, Tal Zamir, Zamir, Grobman, Kiri Addison, Addison, McAfee, recalibrated Organizations: Hong, McAfee, Google Locations: Hong Kong, deepfakes

☆ DEI Programs Are Under Attack. Here Is How to Fix Them, Chief Diversity Officer.
▼ + stars: | 2024-02-27 | by ( Steve Pemberton | ) www.businessinsider.com time to read: +13 min

In 2007, I became Monster.com's first chief diversity officer, then Walgreens' in 2012. Most recently I served as chief human-resources officer at Workhuman. When done right, DEI programs not only give companies a competitive edge but also can be the very means of mending a broken America. Unsurprisingly, the role of chief diversity officer became more popular during this time as CEOs and boards recognized that they needed a dedicated team with resources to prevent similar class-action settlements and public-relations disasters. Prior to serving as chief people officer for Workhuman, he was chief diversity officer for Walgreens and Monster.com.

Persons: unschooled, Monster.com's, meritocracy, Kennedy, Johnson, Nixon, ERGs, Charles Walgreen, Jim Crow, Rep, Robert B, Elliott of, Steve Pemberton Organizations: Walgreens, Revelio Labs, America, Commission, Texaco, Denny's, Nextel, Harvard, The Lighthouse Academy Locations: America, Elliott of South Carolina

☆ Critics are hailing FX's 'Shōgun' as the next 'Game of Thrones'
▼ + stars: | 2024-02-27 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +6 min

"Shōgun," created by Rachel Kondo and Justin Marks, takes place at the turn of the 17th century in Japan. Hiroyuki Sanada as Yoshii Toranaga in the series premiere of "Shōgun." The Washington Post's Lili Loofbourow wrote that "Shōgun" will draw comparisons to "Game of Thrones" because it has a "proven combination of gorgeous set pieces, moral ambiguity, cliffhangers (literally, in one case!) According to critics, however, FX's "Shōgun" more effectively shifts the focus to the story's cast of Japanese characters. AdvertisementReviews praised Hiroyuki Sanada's performance as Toranaga YoshiiHiroyuki Sanada as Yoshii Toranaga in "Shōgun."

Persons: —, James Clavell's, Rachel Kondo, Justin Marks, John Blackthorne, Yoshii Toranaga, Hiroyuki Sanada, Katie Yu, Alan Sepinwall, Nick Hilton, Lili Loofbourow, Loofbourow, Cosmo Jarvis, Anna Sawai, Time's Judy Berman, Mike Hale, Toda Mariko, IGN's Samantha Nelson, Sanada, Hiroyuki Sanada's, Yoshii Hiroyuki Sanada, Stone's Sepinwall, Today's Kelly Lawler, IGN's Nelson, Toranaga, Critics, IndieWire's Ben Travers, Travers, Rebecca Nicholson, Yuka Kouri, Kurt Iswarienko, Variety's Alison Herman, showrunners Marks, Jonathan van Tulleken, Helen Jarvis, Carlos Rosario Organizations: Service, Hulu, Disney, Taiko, Regents, Business, Thrones, FX, New York Times Locations: United Kingdom, Japan, Kanto, Washington, Osaka, Hulu

☆ Premarket stocks: Could the Federal Reserve rule out rate cuts in 2024?
▼ + stars: | 2024-02-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Now, some are wondering if the central bank might not cut rates at all in 2024. He expects the central bank to cut rates two to four times this year. Plus, there’s no official indication that the central bank won’t cut rates this year. • If the neutral interest rate, or the rate that maintains full employment and stable inflation, is revised upward closer to 3.5%. The neutral rate should be 2.5%, based on Fed officials’ estimates for the central bank’s key interest rate, inflation and unemployment.

Persons: stoked, Stocks, won’t pare, ”, Tom Graff, Jerome Powell, Oliver Darcy, “, Eddy, Apple’s, Read, Here’s what’s, Chris Isidore Organizations: CNN Business, Bell, New York CNN —, Federal Reserve, Deutsche Bank, Fed, Deutsche Bank economists, ” Apple, Wednesday, Apple Sports, NBA, NHL, MLS, NCAA, NFL, MLB, ESPN, Labor Department, Bureau of Labor Statistics, SAG Locations: New York, America

☆ Ray Francis, Celebrating Blackness
▼ + stars: | 2024-02-22 | by ( Blake Gopnik | ) www.nytimes.com time to read: +1 min

In the late 1970s, in Montreal, photography students were obsessed with getting deep blacks — “max black” — in our prints, squeezing the full range of tones out of our black-and-white photo paper. Few of us realized there might be more to blackness than a lack of light. We didn’t understand that in the right hands, the deep, deep blacks might speak to far more than a darkroom technique — to issues of race and segregation. Four hundred miles south of us, in New York, Ray Francis was printing shots that had the bold shadows we were striving for. Thirty-two of his prints are on view now in “Waiting to Be Seen: Illuminating the Photographs of Ray Francis,” at the Bruce Silverstein gallery in Chelsea, a posthumous show that is Francis’s first solo presentation.

Persons: Ansel Adams moonrise, Ray Francis, ”, Bruce Silverstein Locations: Montreal, New York, Chelsea

☆ Why some investors don’t mind waiting longer for rate cuts
▼ + stars: | 2024-02-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

Stocks and bonds both sold off as investors painfully recalibrated their expectations for five to six interest rate cuts this year to align more with the Fed’s projected three cuts. For example, Yardeni Research has pushed back against the idea that immediate rate cuts are necessary to avoid the Fed overshooting on slowing the economy. Stocks wouldn’t crater even if cuts were off the table completely in 2024, according to Bank of America, despite what Tuesday’s losses suggest. “No cuts could stymie a full-fledged recovery in more credit-sensitive areas,” wrote BofA strategists in a note on February 9. That means regional lenders will no longer have that crutch if they run into trouble after the program’s expiration on March 11.

Persons: Jerome Powell, ”, Ed Yardeni, it’s, Marc Dizard, Allison Morrow, Bitcoin, bitcoin, Antoni Trenchev, ” Read, Alicia Wallace, Read Organizations: CNN Business, Bell, New York CNN, Wall, Federal Reserve, Traders, Fed, Federal Deposit Insurance Corporation, US Treasury, Valley Bank, Signature Bank, Yardeni Research, Bank of America, PNC Asset Management Group, Federal Reserve Bank of New, New York Fed, Liberty Street Economics, , New York Fed Locations: New York, pare, Federal Reserve Bank of New York, , New

☆ Stubborn inflation means the Fed will be cutting rates less than the market thought
▼ + stars: | 2024-02-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

If nothing else, the January inflation report released Tuesday finally appears to have convinced markets that Federal Reserve officials weren't kidding around when they said they will take a deliberate approach to cutting interest rates this year. Following the consumer price index report showing the year-over-year reading well ahead of the Fed's desired inflation goal, markets recalibrated their monetary policy expectations. The Fed "faces a challenging task in balancing economic growth and employment while trying to control inflation," he added. Indeed, the narrative of the Fed being able to start cutting early, and moving rapidly through the year, was all but dead Tuesday. The January CPI report is a "setback for the Fed and makes a May rate cut unlikely.

Persons: Ditto, —, it's, Sung Won Sohn, Dow, Jerome Powell, Jason Pride, there's, Powell, Matthew Ryan, Krishna Guha, Guha Organizations: Federal Reserve, CME, Labor, CPI, Loyola Marymount University, SS Economics, Dow Jones, US2Y, CBS, Bank of America, Citigroup, Fed, Evercore ISI

This year’s DealBook Summit will include conversations with global leaders and powerful figures from Wall Street, Silicon Valley and Hollywood. Jamie Dimon has been the chief executive of JPMorgan Chase since 2006 and its chairman since 2007, making him one of Wall Street’s longest-serving banking leaders. Bob Iger returned as Disney’s chief executive last year, after stepping down from the role in 2020. David Zaslav orchestrated Discovery’s takeover of WarnerMedia and became the chief executive of the new company, Warner Bros. The transaction helped transform his modest cable television company into an empire that includes the Warner Bros. movie and TV studios, HBO and CNN.

Persons: Andrew Ross Sorkin, Kamala Harris, Ms, Harris, Biden’s, Tsai Ing, Tsai, Elon Musk, Musk, Jamie Dimon, Jensen Huang, chipmaker, Bob Iger, Long, Iger, Lina Khan, Khan, ”, David Zaslav, Jay Monahan, LIV Golf, Monahan, Kevin McCarthy, Mr, McCarthy, Shonda Rhimes, Rhimes Organizations: Wall, Israel, Elon, SpaceX, JPMorgan Chase, First, Nvidia, Fox, Marvel, Pixar, Hollywood, ESPN, Federal Trade Commission, Columbia Law, WarnerMedia, Warner Bros, HBO, CNN, Republican, Republican Party, Shondaland, Netflix Locations: Silicon Valley, Hollywood, United States, California, San Francisco, Gaza, Taiwan, China, First Republic, Saudi

☆ Biden Hopes to Alter the Trajectory of the War as Hostages Are Released
▼ + stars: | 2023-11-27 | by ( Peter Baker | More About Peter Baker | ) www.nytimes.com time to read: +7 min

In seeking to extend the pause and hostage releases, Mr. Biden has American interests to consider as well as those of Israel. Mr. Biden hopes an extension of the pause in exchange for the release of more hostages will result in the rest of the Americans being freed. “We’ll continue to remain personally engaged to see that this deal is fully implemented and work to extend the deal as well,” Mr. Biden told reporters. The release of Avigail gave Mr. Biden a small but emotionally powerful victory amid all the tumult in the region. “She’s been through a terrible trauma,” Mr. Biden said.

Persons: Biden, Idan, Mr, Benjamin Netanyahu, Sheikh Tamim bin Hamad, “ He’s, ” Jake Sullivan, Abigail, “ We’ll, Netanyahu, “, ”, Sullivan, Israel, ” Mr, Biden’s, Chris Christie, Christie, can’t, Tom Cotton, Cotton, Avigail, “ She’s, God she’s Organizations: Sunday, Hamas, Israel, “, NBC, Mr, ”, CNN, Republicans, Republican, “ Fox, European Union Locations: Israel, Gaza, Nantucket, Massachusetts, Sheikh Tamim bin Hamad Al, Thani, Qatar, United States, “ State, New Jersey, Arkansas

☆ The future of interest rates is more surprises
▼ + stars: | 2023-11-24 | by ( Edward Chancellor | ) www.reuters.com time to read: +7 min

Observing these oscillating forecasts, a bystander might conclude that nobody knows anything about the future direction of interest rates. The study examined data from 19 countries back to 1870 and found only a tenuous link between the determinants of savings and investment and real interest rates. “No single factor or combination of such factors”, the authors concluded, “can consistently explain the long-term evolution of real interest rates. Indeed, if the trend persisted Schmelzing forecast that “within a generation historically implied real interest rates will have reached negative territory”. Homer and Sylla wryly observe that people assume that the interest rates they encounter are normal and are surprised by what comes next.

Persons: Claudio Borio, “, ”, Paul Schmelzing, Sidney Homer, Richard Sylla, Sylla, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, U.S, Capital Economics, Bank for International, Austrian, Reuters Graphics Reuters Graphics, Financial, Boston College, Treasury, Thomson Locations: Central, U.S . Federal, London, Japan

☆ Sleep Number’s ‘Drastic Miss’ Resulted in Drastic Marketing Measures
▼ + stars: | 2023-11-10 | by ( Megan Graham | ) www.wsj.com time to read: 1 min

Bed and mattress brand Sleep Number recalibrated its sales and marketing strategy after being surprised by a drop in consumer demand. Photo: Sleep NumberBed and mattress brand Sleep Number said it retooled its marketing approach to emphasize affordability and competitive value after a startling slip in consumer demand contributed to a 13% year-over-year net sales drop and an earnings miss. The company, which reported third-quarter earnings on Tuesday, said though the broader bedding industry has been operating at recessionary levels for two years, it was still surprised to see that demand “abruptly changed” in August and September as consumer purchasing power declined.

Persons: “

NEW YORK (AP) — Hollywood’s months of labor unrest are coming to an end, but the post-strike landscape that awaits actors and writers may be far from happy-ever-after. That helter-skelter transition threw much of the economics of entertainment out of whack. “Going through that with a streaming service that’s losing billions of dollars is really, really difficult to go on offense.”Cancellations have grown more commonplace as streamers get more selective. Due in part to the strikes, series production will dip for the first time in years in 2023 after reaching an all-time high last year, when 599 original series were made. “And so I think really we will see over the coming days, weeks and months what the industry’s real intentions are.

Persons: —, HBO Max, Max ”, ”, Jonathan Taplin, Crypto, Taplin, Puck’s Matt Belloni, Walt, Bob Iger, ” Iger, I’ve, it’s, Peacock, David Zaslav, Max, ” Zaslav, “, Martin Scorsese’s, Ridley Scott’s “ Napoleon, ” Duncan Crabtree, Krysta Fauria Organizations: Hollywood, SAG, HBO, Netflix, USC, Innovation Lab, International Alliance, Walt Disney Co, Disney, Comcast, Warner Bros . Discovery, Apple Studios, Associated Press Locations: Hollywood, Los Angeles

COLOMBO, Sri Lanka (AP) — The U.S. announced a $553- million project Wednesday to build a new, deep-water shipping container terminal in the Port of Colombo as it competes with China in international development financing. The U.S.-backed financing comes at a time when Sri Lanka is struggling to recover from a dire financial and economic crisis. Sri Lanka borrowed heavily from China to build the port and other infrastructure including an airport and a city being built on reclaimed land. Both neighboring India and China are jostling for influence in Sri Lanka and both have already invested in expanding facilities at the Colombo port. Colombo port also has a terminal run by China Merchants Port Holdings.

Persons: ”, Scott Nathan, Sri Lanka’s John Keells, Lanka’s, Wang Wenbin, William & Mary, AidData, China's, saysChina, Bradley Parks, “, ” ___ Didi Tang Organizations: South, U.S . International Development Finance Corp, West, Local, Sri, Sri Lanka’s John Keells Holdings, Initiative, Foreign Ministry, China Merchants Port Holdings, CHEC Port City Colombo Co, China Communications Construction Company, William & Locations: COLOMBO, Sri Lanka, U.S, Port, Colombo, China, Bay, Bengal, Beijing, Hambantota Port, Hambantota, India, oceanside, Port City, Virginia, “ Beijing, Washington

Nikki Haley is surging in support among Iowa Republicans and is now tied for second place in the battle for the GOP nomination in the Hawkeye State, according to a poll released Monday morning. Haley has the first-choice backing of 16% of Iowa Republicans – the same as Florida Gov. The poll was conducted before Trump's vice president, Mike Pence, dropped out of the race on Saturday, saying "this is not my time." Even before the realignment, Pence was struggling, having dropped from 6% support in August to 2% in the current poll. The Iowa poll reflects a new political reality for the 2024 elections, with the nominations for both major political parties appearing to be sewn up with two and a half months to go before the first nominating contest.

Persons: Nikki Haley, Donald Trump, Trump, –, pollster J, Ann Selzer, Haley, Iowa Republicans –, Ron DeSantis, Vivek Ramaswamy, Chris Christie, Doug Burgum, Asa Hutchinson, Ryan Binkley, Mike Pence, Pence, Joe Biden, Biden, Robert F, Kennedy Jr, Dean Phillips, Phillips, James Garfield, Jan Organizations: South Carolina Gov, Iowa Republicans, GOP, Republican, Des Moines Register, NBC, Florida Gov, Suffolk University, Boston Globe, USA, New Hampshire Republican, Tech, New, New Jersey Gov, North Dakota Gov, Arkansas Gov, Pence, Trump, Democratic Locations: Hawkeye, Florida, New Hampshire, DeSantis, New, New Jersey, Arkansas, Iowa, Minnesota

☆ Walmart’s given a major new look, and feel, to 117 stores. Here are the big changes
▼ + stars: | 2023-10-30 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +2 min

During the pandemic, customers were flocking to big box stores for all manner of stay-at-home gadgets, including huge televisions and exercise equipment. So Walmart said it re-opened 117 stores in 30 states at a cost of half a billion dollars to keep customers engaged and shopping throughout the store. Walmart has given a major new look, and feel, to 117 stores. WalmartThe makeovers are meant to modernize the look of a Walmart store and the experience in it, the company said. Walmart has given a major new look, and feel, to 117 stores.

Persons: it’s Organizations: New, New York CNN, Walmart, Target Locations: New York

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