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☆ Pegula produces dazzling display to reach first Wimbledon quarters
▼ + stars: | 2023-07-09 | by ( Pritha Sarkar | ) www.reuters.com time to read: +3 min

LONDON, July 9 (Reuters) - Jessica Pegula enjoyed one of those scarcely believable days straight out of fantasy land as her racket oozed winners left, right and centre in a 6-1 6-3 fourth-round destruction of luckless Ukrainian Lesia Tsurenko at Wimbledon on Sunday. Pegula took full advantage of her opponent's woes as she walloped thunderous winners from the baseline to streak into a 5-0 lead in 18 blinding minutes. Tsurenko was lucky not to be completely wiped out from the opening set as the American fourth seed missed a set point in the sixth game. That respite, however, was brief as Pegula went on another three-game winning spree to take a 6-1 2-0 lead. I am so glad to make the final eight and I hope I get my name on a wall, or something."

Persons: Jessica Pegula, Tsurenko, Pegula, Ana Bogdan, Marketa, Serena Williams, Madison Keys, Sloane Stephens, Pritha Sarkar, Clare Fallon Organizations: Wimbledon, Madison, Thomson Locations: Ukrainian, American

☆ Medvedev survives Fucsovics onslaught to reach last 16
▼ + stars: | 2023-07-08 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 8 (Reuters) - Daniil Medvedev has been making up for lost time as he downed Hungary's Marton Fucsovics 4-6 6-3 6-4 6-4 to match his best ever showing at Wimbledon by reaching the fourth round on Saturday. A year after being banned from playing at the All England Club following Russia's invasion of Ukraine, the Moscow-born Medvedev survived a wayward opening set to topple an opponent who had won their only previous meeting at a major. But Medvedev trampled on those dreams in the fourth game of the second set, when he broke Fucsovics to love after the Hungarian double-faulted to surrender his serve. Once Medvedev had taken a two-sets-to-one lead by banging down an unreturnable serve, Fucsovics needed an injury time out to get his right ankle manipulated and strapped up by the trainer. He got back on his feet and even earned a break point in the eighth game of the fourth set.

Persons: Daniil Medvedev, Hungary's Marton Fucsovics, Medvedev, Fucsovics, Roland Garros, Boris Becker, unravelled, Pritha Sarkar, Hugh Lawson Organizations: Wimbledon, All England, Thomson Locations: Ukraine, Moscow, Russian, London

☆ Alcaraz overcomes Muller despite error-strewn performance
▼ + stars: | 2023-07-07 | by ( Clare Lovell | ) www.reuters.com time to read: +2 min

The 26-year-old Muller, ranked 84th, has spent most of his professional career on the second-tier challenger circuit. At key moments U.S. Open champion Alcaraz produced backhands that swerved round the net post, lobs that puffed the baseline chalk, and unreturnable serves that reached 130 miles an hour. After breaking serve in the seventh game, Alcaraz won the first set on his fourth set point with a big serve the Frenchman could not deal with. "I'm getting more experience and getting better every game," Alcaraz said in an on-court interview. Reporting by Clare Lovell, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Spain’s Carlos Alcaraz, France’s Alexandre Muller, Andrew Couldridge, Carlos Alcaraz, France's Alexandre Muller, Muller, Alcaraz, unreturnable, I'm, Clare Lovell, Ed Osmond Organizations: Lawn Tennis, Croquet Club, France’s Alexandre Muller REUTERS, Wimbledon, Frenchman, Thomson Locations: London, Britain

☆ Andy Murray’s Run at Wimbledon Is Short and Bittersweet
▼ + stars: | 2023-07-07 | by ( David Waldstein | ) www.nytimes.com time to read: +1 min

Murray’s presence on the lush green lawns of Wimbledon could barely have been expected four years ago. He underwent hip surgery in 2018 that did not take, and it appeared his career was done. But a year later he underwent hip-resurfacing surgery that allowed him to play on. Still, his public held out hope, and did its part, beginning Thursday night, when Murray and Tsitsipas began the match. In a post-loss moment of magnanimity that many other professionals could not have mustered, Murray did not fault the decision, noting the grander implications.

Persons: Murray, Tsitsipas, ” Organizations: Challenger, Wimbledon Locations: Wimbledon

☆ Pegula races to second-round victory over Spain's Bucsa
▼ + stars: | 2023-07-06 | by ( Clare Lovell | ) www.reuters.com time to read: +1 min

The Florida-based Pegula made a business-like job of wrapping up the first set before Bucsa, 25, had really settled. Pegula then raced to a 4-0 lead in the second, getting the better of the baseline rallies with pounding groundstrokes. But Bucsa found some form mid-set, producing deft drop shots and fine angles to claw back four games as Pegula's intensity waned. "I definitely feel I can go deep here ... a short-term goal to get into the second week." Pegula will meet Italy's Elisabetta Cocciaretto in the third round.

Persons: Jessica Pegula, Spain's Cristina Bucsa, Dylan Martinez, Cristina Bucsa, Pegula, Bucsa, Italy's Elisabetta Cocciaretto, Clare Lovell, Ken Ferris Organizations: Lawn Tennis, Croquet Club, Spain's Cristina Bucsa REUTERS, Dylan Martinez LONDON, Wimbledon, Thomson Locations: London, Britain, American, Florida, Pegula

☆ Sublime Sinner downs Schwartzman, breaks Argentine hearts again
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

I think it was a good match," Sinner said in his on-court interview. Sinner cruised from there on, using both serve and forehand to devastating effect as he controlled rallies from the baseline and frustrated Schwartzman, winning five straight games as errors crept into the Argentine's game. "I tried to return as many balls as I could and I tried to play my game. Moving him around is not easy because he is so fast, so I tried to overpower him a little bit. "Hopefully I can play some good tennis here, play point-by-point and then we'll see where I can finish."

Persons: Argentina's Diego Schwartzman, Toby Melville LONDON, Diego Schwartzman, Schwartzman's, Francisco Cerundolo, Schwartzman, Sinner, Aleksandar Vukic, Frenchman Quentin Halys, Aadi Nair, Toby Davis Organizations: Lawn Tennis, Croquet Club, Argentina's Diego Schwartzman REUTERS, Thomson Locations: London, Britain, Argentine, Bengaluru

☆ Mighty Murray lifts Wimbledon gloom
▼ + stars: | 2023-07-04 | by ( Ossian Shine | ) www.reuters.com time to read: +2 min

"Obviously it is amazing to be back here on centre court," said former world number one and twice Wimbledon champion Murray after his first-round victory. I wanted to play well ... and once I got the break in that first set, I played some great tennis." "It's been a long time since I've felt physically this good coming into Wimbledon," Murray said. "So I am hoping I am fit and ready for a good run," he added, as the Centre Court whooped and cheered. "I think the main thing that Andy did really well today was he was just relentless on every point.

Persons: Andy Murray, Britain’s Ryan Peniston, Toby Melville LONDON, Sir Andy Murray, Ryan Peniston, Murray, Peniston, It's, I've, Court whooped, Brit, Andy, Ossian Shine, Ken Ferris, Toby Davis Organizations: Lawn Tennis, Croquet Club, Wimbledon, Scot, Court, Thomson Locations: London, Britain

☆ Rybakina recovers to race past Rogers
▼ + stars: | 2023-07-04 | by ( Christian Radnedge | ) www.reuters.com time to read: +1 min

LONDON, July 4 (Reuters) - Defending Wimbledon champion Elena Rybakina came from a set down on Centre Court to beat American Shelby Rogers 4-6 6-1 6-2 in the first round on Tuesday. Rogers powered through the first set with Rybakina looking out of practice having pulled out of a warm-up tournament in Eastbourne due to a virus. The 2022 champion never looked back, with another break coming in the seventh game when Rogers double faulted having already saved three break points. Rybakina, who served 12 aces in the match, closed out victory with a hold to love. She will face either Japanese lucky loser Nao Hibino or France's Alize Cornet in the second round.

Persons: Elena Rybakina, Shelby Rogers, Roger Federer, Rogers, Rybakina, I've, Nao Hibino, Alize Cornet, Christian Radnedge, Ed Osmond Organizations: Wimbledon, Court, Rogers, Thomson Locations: Kazakh, Eastbourne, London

☆ King Federer back in town as Alcaraz and Rybakina shine at Wimbledon
▼ + stars: | 2023-07-04 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

Retired Swiss great Federer ditched his racket for a classy cream blazer and a comfy seat as the eight-time Wimbledon champion graced the Royal Box and received possibly the longest ovation of his illustrious career. But Federer missed Spanish phenomenon Alcaraz, the 20-year-old who has taken the tennis world by storm. "I'm really happy with the level that I played, with the performance today," Alcaraz told reporters, although he was not so happy that Federer missed his match. RYBAKINA RECOVERSKazakhstan's Rybakina, the third seed, looked in danger of becoming the first Wimbledon women's defending champion to suffer a first-round exit since Steffi Graf in 1994 when American Rogers took the opening set. Admitting the watching Federer had made her nervous, she shrugged off that poor start to win in style.

Persons: Cameron Norrie, Czech Republic Tomas Machac, Dylan Martinez, Federer, Frenchman Chardy Jabeur, Sabalenka, Roger Federer, Alcaraz, Elena Rybakina, Shelby Rogers, Andy Murray, Ryan Peniston, Frenchman Jeremy Chardy, I'm, RYBAKINA, Kazakhstan's Rybakina, Wimbledon women's, Steffi Graf, Rogers, I've, Rybakina, Poland's Magdalena Frech, Novak Djokovic's, Panna Udvardy, Tomas Machac, Shrivathsa Sridhar, Ed Osmond, Ken Ferris Organizations: Lawn Tennis, Croquet Club, Czech Republic, Czech Republic Tomas Machac REUTERS, Court, Swiss, Wimbledon, Poland's, Thomson Locations: London, Britain, Swiss, British, Moscow, Bengaluru

☆ Why Bolsonaro Was Barred in Brazil but Trump Can Run in the U.S.
▼ + stars: | 2023-07-01 | by ( Jack Nicas | ) www.nytimes.com time to read: +1 min

Like Mr. Trump, Mr. Bolsonaro has also defended his supporters. Mr. Bolsonaro said on Friday that the riot was not an attempted coup, but instead “little old women and little old men, with Brazilian flags on their back and Bibles under their arms.”But the political reverberations have differed. In Brazil, the political establishment has largely moved away from talk of election fraud — and from Mr. Bolsonaro himself. Conservative leaders are now pushing a more moderate governor as the new standard-bearer of the Brazilian right. Mr. Encarnación said that, despite its problems, Brazil’s democratic system can provide a model on how to fight new anti-democratic threats.

Persons: Trump, Bolsonaro, Encarnación, ”, “ Organizations: Mr, Republican Party, Conservative, Democracies Locations: U.S, Brazil

☆ The Supreme Court strikes down Biden's student-loan forgiveness plan, blocking debt relief for millions of borrowers
▼ + stars: | 2023-06-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The Supreme Court struck down Biden's student-loan forgiveness plan. It ruled that the relief under Biden's current plan is illegal and cannot move forward. In November, two conservative-backed lawsuits succeeded in pausing the implementation of Biden's debt relief plan, just one month after applications for the loan forgiveness opened up. "Resuming student debt payments in the middle of an affordability crisis is unconscionable. President Biden needs to deliver on his promise to cancel student debt," Khanna wrote on Twitter.

Persons: —, Joe Biden's, Pell Grant, Biden, Brown, Miguel Cardona, Ro Khanna, Alexandria Ocasio, Cortez, Khanna, We're Organizations: Service, Republican, US Department of Education, Department of Education, . Nebraska, Democratic, —, The Education Department, Education, Supreme, Twitter, Politico, Higher Locations: . Nebraska, ., Alexandria

☆ A Delaware city wants to let businesses vote in its elections. It just cleared a key hurdle, but it’s faced pushback
▼ + stars: | 2023-06-30 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

Letting businesses vote in municipal elections dilutes the voice of the citizenry and “puts the idea that corporations are people on steroids,” said its executive director, Claire Snyder-Hall. Seaford proposal meets resistanceThe latest Delaware municipality to propose letting businesses vote in its local elections is the city of Seaford, with roughly 8,500 residents. Grenshaw said he never expected that to be a problem, since four other municipalities had no trouble getting approval for their decision to let businesses vote in the past. How influential could that be in future Seaford elections? The city clerk’s office would conduct a series of annual cross-checks to ensure that a business currently owns property in the city.

Persons: “, ”, Claire Snyder, Seaford Mayor David Grenshaw, ” Grenshaw, Grenshaw, Snyder, Hal Weitzman, Weitzman Organizations: CNN, Hall, DuPont, Seaford Mayor, Verizon, Delaware General Assembly, The News, Rich, University of Chicago’s Booth School of Business, Fortune Locations: United States, Delaware, Seaford, it’s, America

☆ The End of LIBOR Is (Finally) Here
▼ + stars: | 2023-06-30 | by ( Joe Rennison | ) www.nytimes.com time to read: +2 min

The arduous, decade-long process to end the financial system’s reliance on a tarnished interest-rate benchmark, which once underpinned trillions of dollars in contracts across the globe, is almost over. From next week, the rate, known as the London Interbank Offered Rate, or LIBOR for short, will cease to be published. LIBOR is a collective term for dozens of rates, denominated in different currencies, intended to reflect how much it costs banks to borrow from one another. In the end, roughly $10 billion in fines were meted out across the financial industry over accusations of LIBOR rigging, which led to efforts to move away from the tainted benchmark. “There are still issues, but it’s remarkable that LIBOR will go out with more of a whimper than a bang.

Persons: LIBOR, ”, Mark Cabana Organizations: London, Barclays, Bank of America Locations: LIBOR, British

☆ US banks gird for dose of post-stress-test trauma
▼ + stars: | 2023-06-29 | by ( John Foley | ) www.reuters.com time to read: +8 min

NEW YORK, June 29 (Reuters Breakingviews) - For the biggest U.S. banks, the nerves this year come after the exam. Fed stress tests subject banks to a theoretical market shock and incorporate elements of operational risk, and then spit out a “stress capital buffer” requirement tailored to each firm. The risk for banks is that new rules get piled on top of existing regulations in a process known as gold-plating. U.S. banks are awaiting a proposal from their regulators to revamp capital rules, expected in July. Gruenberg said regulators were considering expanding the reach of a stricter set of capital rules to include banks with over $100 billion in assets.

Persons: Goldman Sachs, Michael Barr, Jamie Dimon, Banks, Morgan Stanley, Jay Powell, PwC, watchdogs, Michelle Bowman, Martin Gruenberg, It’s, Gruenberg, Peter Thal Larsen, Streisand Neto Organizations: YORK, Reuters, Federal Reserve, JPMorgan, Citigroup, Banking Supervision, Basel III, America, State Street, Bank of New York Mellon, Big, Bank, U.S ., Reuters Graphics Reuters, Signature Bank, First, Fed, Federal Deposit Insurance, FDIC, Credit Suisse, Committee, “, “ Basel IV, Federal, Thomson Locations: U.S, Basel, Goldman, Big U.S, Swiss, “ Basel

☆ First-quarter economic growth was actually 2%, up from 1.3% first reported in major GDP revision
▼ + stars: | 2023-06-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought, according to a big upward revision Thursday from the Commerce Department. The upward revision helps undercut widespread expectations that the U.S. is heading toward a recession. Consumer spending, as gauged by personal consumption expenditures, rose 4.2%, the highest quarterly pace since the second quarter of 2021. Core PCE prices, which exclude food and energy, rose 4.9% in the period, a downward revision of 0.1 percentage point. That was a decline of 26,000 from the previous week and well below the estimate for 264,000.

Persons: Dow, Scott Hoyt, Hoyt Organizations: Commerce Department, Gross, Social Security, Moody's, Federal, Fed, Labor Department Locations: U.S, department's

☆ Opinion | What Old-School Economics Doesn’t Get About Democracy
▼ + stars: | 2023-06-28 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

I’ve written a lot about economists who elbow their way into other fields — economic imperialists, they’re sometimes called. Allen, who is not an economist, has a lot to say about economists in her new book, and it’s mostly not positive. “Justice is therefore best, and perhaps only, achieved by means of democracy,” she wrote in the opening pages of the new book. Measuring utility “effectively requires that we convert preferences into something arithmetic,” Allen wrote. Citing her Harvard colleague Dani Rodrik, an economist, and others, Allen wrote that it makes more sense to build an economy that doesn’t produce massive inequality in the first place.

Persons: Allen, can’t, ”, ” Allen, aren’t, Glen Weyl, it’s, Weyl, Dani Rodrik Organizations: Microsoft Research

☆ EU agrees deal on final leg of Basel bank capital rules
▼ + stars: | 2023-06-27 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, June 27 (Reuters) - The European Union on Tuesday reached a deal to implement the final batch of tougher bank capital rules agreed internationally following the global financial crisis over a decade ago, with additions to contain risks from the crypto sector. The remaining leg of the 'Basel III' global accord, agreed among G20 and other nations, includes safeguards such as limits on big banks using their own internal models to calculate capital buffers. The collapse of Silicon Valley Bank and other lenders in the United States, whose fallout rippled through Europe, and the forced takeover of Credit Suisse by UBS has thrown a spotlight on bank capital and liquidity. The deal between EU states and the European Parliament phases in some elements in the Basel III accord from 2025, two years after the deadline agreed globally. The EU is the first major jurisdiction to reach a deal on the remaining Basel III rules, ahead of Britain and the United States.

Persons: Elisabeth Svantesson, Gilles Boyer, Huw Jones, Christina Fincher Organizations: European Union, Basel III, Silicon Valley Bank, Credit Suisse, UBS, EU, Thomson Locations: Basel, Silicon, United States, Europe, Sweden, Britain

☆ Wimbledon is the only grass court Grand Slam
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +9 min

The grass courts are now in session Wimbledon is the only grass court Grand Slam and retains a glamor born from white clothes and impeccable green courts. The grass courts at Wimbledon are grown from 10 metric tons of seed each year, with renovations beginning in September. Until 1974, the only Grand Slam tournament played on a surface other than grass was the French Open, and now Wimbledon is the lone remaining grass Grand Slam. Grand Slam surface history Wimbledon is the oldest of the Grand Slam tournaments and has been held on grass though its entire duration. Relative court speeds A row of three embroidered tennis court patches displaying different surfaces on a spectrum, showing the grass court at the fastest end and the clay court at the slowest end.

Persons: ”, Caitlin Thompson, ” Thomson, ” Clay, Eddie Seward, John McEnroe, Pete Sampras, Thompson, Novak Djokovic, Roger Federer, “, Djokovic, Draftkings Organizations: Wimbledon, U.S ., New York Times, Association of Tennis Professionals Locations: you’ll, French, Wimbledon, racquets, Serbian

☆ A former Titan passenger said Stockton Rush didn't follow 'the crowd' – but safety was the 'most important thing' for OceanGate
▼ + stars: | 2023-06-25 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Ex-Titan passenger Aaron Newman said safety was "always the most important thing" for OceanGate. "The thing that he may be guilty of was not following the crowd," Aaron Newman told Fox Business. A man who went on the Titan submersible two years ago said safety was "always the most important thing" for OceanGate — even if the company's CEO Stockton Rush didn't always follow "the crowd." "Safety is an incredible priority and was always the most important thing there," said Newman, who was also friends with Rush. Former passengers of the Titan sub have spoken out about their experiences on the sub since its "catastrophic loss of the pressure chamber."

Persons: Aaron Newman, Stockton Rush's, Stockton Rush didn't, Maria, Newman, Rush, OceanGate, Wendy, Mike Reiss, Arthur Loibl Organizations: Fox Business, Titan, Stockton Rush, CNN, BBC

☆ Opinion: Where Putin goes from here
▼ + stars: | 2023-06-25 | by ( Richard Galant | ) edition.cnn.com time to read: +10 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —“It is a stab in the back of our country and our people,” Russian President Vladimir Putin told his nation Saturday as he faced an unprecedented challenge from his former ally, Yevgeny Prighozin, head of the Wagner mercenary group. “The Russians were not stabbed in the back during World War I, as Putin suggested during his remarks on Saturday,” wrote Peter Bergen. Sound familiar?”“A keen student of Russian history, Putin is aware of the stakes here. The Wagner force served the Russian president as a useful tool he could control for foreign adventures.

Persons: Vladimir Putin, Yevgeny Prighozin, Wagner, Tsar, Putin, Prighozin, “, Alexander Lukashenko, Putin’s, ”, Peter Bergen, Nicholas II, ” Prighozin, CNN’s Nathan Hodge, Hodge, ” Putin’s, Mark Galeotti, John Roberts, Amy Coney Barrett, Neil Gorsuch, “ what’s, Edmund, Burke, ’, Roe, Wade, Critics, ProPublica, Samuel Alito, Paul Singer, Alito, Singer, salmons, Singer’s, Clay Jones, you’re, Erwin Chemerinsky’s, Ann Telnaes “, Chemerinsky, Samuel Dickman, Allison Hope, Hunter Biden, Donald Trump Lisa Benson, Joe Biden’s, Donald Trump, Julian Zelizer, Biden, Trump, Norman Eisen, ” Alberto Gonzales, George W, Bush, Department’s, ” “, …, Justin Gest, White, Joel Pett Organizations: CNN, Soviet, Kremlin, US, Quinnipiac University, Justice Department, GOP, Republicans, Trump, Agency Locations: Russia, Moscow, Belarus, Ukraine, “, Europe, Alaska

☆ Moscow makes bizarre claim that the US is planning bio-warfare against Russian troops in Ukraine as fears of disease grow after dam destruction
▼ + stars: | 2023-06-24 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +4 min

The outlandish claim comes amid health concerns after the destruction of the Kakhovka dam in Ukraine. The bizarre claim comes after the destruction of a major dam near Kherson caused flooding along the Dnieper River in southern Ukraine earlier this month. "When bitten, mosquitoes can infect military personnel with a dangerous infection, such as malaria," he said. Alex Babenko/Getty ImagesWhile the bizarre claim appears to have little basis, the dam's destruction has caused fears over subsequent disease and health concerns. A military partisan movement said the Russian army has recently suffered a cholera outbreak after the destruction of the dam, Newsweek reported.

Persons: Igor Kirillov, —, Max Seddon, Kirillov, " Seddon, didn't, Alex Babenko, Tedros Adhanom Ghebreyesus Organizations: Kremlin, Service, Chemical Protection Troops, Ukraine, Financial Times, White, Yahoo News, Metro, Politico, Newsweek, WHO Locations: Russian, Ukraine, Russia, Moscow, Kyiv, Kherson, West, Nova

Bank regulators led by the U.S. Federal Reserve are finalizing the proposal which would implement international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis. On Wednesday, Fed Chair Jerome Powell told Congress it was critical banks have strong capital, but regulators must be mindful of the tradeoffs. Republican officials at the agencies have flagged similar concerns, two people said, while Republican lawmakers on Wednesday also raised worries over capital rules with Powell. The Fed is drafting the Basel rules with the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corp. (FDIC). Speaking to reporters last week, acting Comptroller Michael Hsu said banks had "not been shy about sharing their concerns" which regulators were taking into account.

Persons: Morgan Stanley, Andrew Kelly, Jerome Powell, Michael Barr, Isaac Boltansky, jitters, Powell, “, Kevin Fromer, It's, Michael Hsu, Pete Schroeder, Niket Nishant, Lananh Nguyen, Tatiana Bautzer, Michelle Price, David Gregorio Organizations: New York Stock Exchange, REUTERS, WASHINGTON, Bank, U.S . Federal, Banking, Bankers, Committee, American Express, U.S, UBS, Deutsche Bank, Barclays, Washington, Bank Policy Institute, WALL, Fed, Industry, Republican, Financial Services, Currency, Federal Deposit Insurance Corp, Regulators, FDIC, OCC, Thomson Locations: Manhattan , New York City, U.S, Basel, Silicon

☆ The S&P 500 could sink 23% in a recession, so investors should consider some downside protection, Goldman Sachs says
▼ + stars: | 2023-06-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The baseline view for Goldman Sachs is that the S&P 500 will rise 7% over the next 12 months. If a recession occurs, the S&P 500 would fall 23% to 3,400, Goldman Sachs said. The warning comes as the S&P 500 is currently in the midst of a bull market run, led by a rally around mega-cap tech stocks. According to Goldman, breadth drawdowns are historically followed by significant slides in the S&P 500. Historically, when the S&P 500 trades this high, it is usually followed by a 14% drawdown over the next year, the analysts wrote.

Persons: Goldman Sachs, —, Goldman, Wall Organizations: Service

☆ Analysis: Forex derivatives nudged out into the open as regulations increase costs
▼ + stars: | 2023-06-20 | by ( Laura Matthews | ) www.reuters.com time to read: +6 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, June 20 (Reuters) - Foreign-exchange investors are moving more of their over-the-counter (OTC) derivatives trades to lookalike products on exchanges to avoid higher costs due to recent global regulations, helping inject transparency into a multitrillion-dollar market that is largely hidden from the public eye. The gradual behavioral change in FX derivatives trading is being caused by increasing margin and collateral costs, said Joe Midmore, chief commercial officer at OpenGamma, a derivatives analytics firm. OTC derivatives are privately negotiated contracts while cleared derivatives, though bilaterally negotiated, are booked with a clearinghouse such as a listed exchange. "They will also incur the operational, legal and custody costs of setting up margin facilities as well as the capital costs of posting margin," Houston said. "There is inherently risk involved in lots of people transacting derivatives with each other," said Riddle.

Persons: Dado Ruvic, Ben Feuer, Joe Midmore, ”, Michael Riddle, Paul Houston, Houston, ForexClear, James Pearson, Tom Arnold, Joe Spiro, Peter Vassallo, Riddle, Laura Matthews, Shankar Ramakrishnan, Megan Davies, Matthew Lewis Organizations: REUTERS, Societe Generale, Banking Supervision, International Organization of Securities Commissions, CME, CME Group, FX, Reuters Graphics British, Financial, ForexClear, BNP, Management, Thomson Locations: Saudi, New York, Hazeltree

☆ Swiatek reigns supreme at French Open by quelling Muchova
▼ + stars: | 2023-06-10 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +5 min

"First of all congratulations to Karolina," said Swiatek, who became the first woman to successfully defend the Roland Garros women's singles title since Justine Henin in 2007. EMOTIONAL SCENESThat sparked emotional scenes on centre court as Swiatek shed tears of joy before joining her family in the crowd for a celebration. For Muchova, it was a first defeat against a player ranked in the top three in six meetings. Tournament director Amelie Mauresmo said of the Pole: "She's getting this special relationship with Roland Garros over the years. Reporting by Shrivathsa Sridhar and Karolos Grohmann in Paris; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Roland Garros, Iga, Suzanne Lenglen, Karolina Muchova, Iga Swiatek, Swiatek, Monica Seles, Seles, Naomi Osaka, Karolina, Justine Henin, It's, Philippe Chatrier, Muchova, Swiatek shrugged, We've, Serena Williams, Arantxa Sanchez Vicario, Amelie Mauresmo, She's, Ivan Dodig, Austin Krajicek, Sander Gille, Joran, Shrivathsa Sridhar, Karolos, Ken Ferris Organizations: Czech, Karolina Muchova REUTERS, U.S, Thomson Locations: Paris, France, PARIS, Poland, Prague, Czech, Croatian, American

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