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☆ IMF upgrades UK growth forecast in another boost to new Labour government
▼ + stars: | 2024-07-16 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook for the U.K. to 0.7% from 0.5%, providing a further boost to the country's new government. Looking ahead, the Washington, D.C.-based IMF reiterated its forecast for 1.5% U.K. growth in 2025 in the July update of its World Economic Outlook. Investment bank Goldman Sachs earlier this month nudged its 2025 forecast for the U.K. economy 0.1 percentage point higher, to 1.6%. Other economies given a 2024 growth upgrade by the IMF on Tuesday included the euro zone, which it lifted by 0.1 percentage point to 0.9%, Spain, up 0.5 percentage point to 2.4%, and China, up 0.4 percentage point to 5%. It lowered its forecast for the U.S. economy by 0.1 percentage point to 2.6%.

Persons: Taylor, Goldman Sachs, Keir Starmer, Goldman, — CNBC's Sophie Kiderlin, Vicky McKeever Organizations: Nine, Monetary Fund, D.C, Investment, Labour, European Union . Deutsche Bank, Friday, Deutsche Bank, Jefferies, Bank of England, Reuters, IMF Locations: Ruskin Park, London, England, Washington, brightening, Spain, China, U.S, Asia

Mortgage rates are the lowest they've been since March in response to cooler-than-expected inflation data. This could help mortgage rates fall even further than currently expected, potentially boosting affordability for homebuyers later this year. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This is a significant slowdown compared when it peaked at 9.1% in 2022, which means mortgage rates should start trending down soon. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ 'God help Ukraine': How JD Vance's VP nomination will cause chills in Kyiv
▼ + stars: | 2024-07-16 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Gaelen Morse | ReutersRepublican presidential nominee Donald Trump's pick of Sen. JD Vance as his vice presidential running mate will have sent chills down spines in Kyiv Tuesday morning. Ash has previously questioned Vance's position on Ukraine and the suggestion that Europe should bear the responsibility of helping Ukraine to defend itself against Russia. Trump has always appeared ambivalent over the war in Ukraine and continuing aid. The comment was an ominous one for Ukraine, however, suggesting Trump could be tempted to pull the rug on further aid. "Donald Trump would mean a big break with a couple of NATO policies, in particular on the question of Ukraine and support to Ukraine.

Persons: JD Vance, Donald Trump, Gaelen Morse, Donald Trump's, Sen, Ohio Republican Vance, Volodymyr Zelenskyy's, Trump, Vance, Ukraine —, Vladimir Putin, Europe hasn't, Timothy Ash, Ash, Vance et, Volodymyr Zelensky, Mitch McConnell, Charles Schumer, Drew Angerer, Zelenskyy, Russia's Putin, Mikhail Klimentyev, Reuters Keen, ringfence, Guntram Wolff, Wolff, Putin Organizations: Republican, U.S, Reuters Republican, Kyiv Tuesday, Ohio Republican, Marines, Kyiv —, NBC News, Financial Times, NATO, BlueBay Asset Management, Russia, Capitol, Republicans, National Governors Association, Trump, Sputnik, Reuters, CNBC Locations: Youngstown , Ohio, Kyiv, Ukraine, U.S, Russia, Europe, Russian, United States, America, Washington ,, Utah, Osaka, Japan, Washington, Trump

Wolfe Research initiated coverage of Amazon with an outperform rating, calling for nearly 30% upside. 7:03 a.m.: Goldman Sachs increases Spotify price target Goldman Sachs thinks Spotify will surpass Wall Street's second-quarter earnings forecasts. The firm and increased its price target to $320 from $317 on shares while maintaining a neutral rating. The analyst upgraded the e-commerce stock to buy from neutral and raised his price target to $82 per share from $78. Analyst Alan Gould downgraded the forum social network stock to hold from buy and reiterated a $75 per share price target.

Persons: Wolfe, Goldman Sachs, Wall, Eric Sheridan, Brian Evans, Shopify, Brad Sills, Sills, — Brian Evans, Jefferies, Surinder Thind, Piper Sandler, Peter Keith, Keith, DLTR, Alan Gould, Gould, Shweta, Khajuria, Fred Imbert Organizations: CNBC, Wolfe Research, Bank of America, Spotify, Jefferies, EPAM, EPAM Systems, Trump, Biden, Democrat, Advertising, Cloud Computing, Health, Business, Amazon Logistics Locations: Reddit, Monday's

☆ JD Vance's history shows how he splits from Republicans on some key issues
▼ + stars: | 2024-07-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

On Monday, former President Donald Trump selected the Republican senator from Ohio to serve as his running mate. He went from a "Never Trump Republican" to Trump's pick for vice president, and he supports a range of conservative issues, from increased tariffs to opposing abortion rights. When it comes to raising taxes, Vance also hasn't ruled out that possibility. Related storiesStill, on other issues like trade, abortion, and education, Vance has stayed behind Trump's policies. He also aligns with his party on issues like gun control, rejecting Democratic efforts for stricter gun laws.

Persons: JD Vance, Donald Trump, Vance, Trump, Hitler, Democratic Sen, Sherrod Brown, Elizabeth Warren, He's, Warren, Biden, Lina Khan, Khan, hasn't Organizations: Service, Corporate America, Republican, Business, GOP, Democratic, Trump, Biden, Federal Trade Commission, Big Tech Locations: Ohio, Silicon

☆ With odds of a Trump win rising, here's what it could mean for Europe's economy
▼ + stars: | 2024-07-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024. "Trump's re-election would thus pose a significant downside risk to our otherwise constructive growth forecast for the Euro area." Trade policy uncertainty, added defense and security pressures and spillover effects from U.S. domestic policies on, for example, taxes could impact Europe, they explained. Trade tensionsTrump's trade policy, and the uncertainty around it, could be one factor that impacts Europe's economy, just as it did during his last presidency, analysts Stehn and Moberly said. In 2018 and 2019, uncertainty about trade policy reduced industrial production in the euro area by around 2%, they estimated.

Persons: Donald Trump, Eva Marie Uzcategui, Goldman Sachs, Jari Stehn, James Moberly, Trump's, Trump, Joe Biden, Moberly Organizations: Trump National Doral Golf Club, Bloomberg, Getty, White, Trump, European Union, EU, . Defense, NATO, U.S, Stehn Locations: Miami , Florida, Europe, Pennsylvania, U.S, Germany, Stehn, Moberly, Ukraine

☆ European stocks set for lower open as markets assess impact of Trump assassination attempt
▼ + stars: | 2024-07-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

LONDON — European stocks are expected to start the week lower as global markets assess the impact an assassination attempt on former U.S. President Donald Trump at a rally over the weekend. The U.K.'s FTSE index is seen opening 14 points lower at 8,239, Germany's DAX down 55 points at 18,711, France's CAC 40 down 27 points at 7,706 and Italy's FTSE MIB down 92 points at 34,645, according to data from IG. European stocks are set to follow the trend set in Asia-Pacific overnight, where markets mostly fell as China's gross domestic product data missed expectations and as investors also assessed the impact of the assassination attempt on Trump. President Joe Biden addressed the nation from the White House on Sunday and condemned all political violence and called for unity. Meanwhile, Trump has said his speech at the Republican National Convention will now focus on national unity, instead of targeting Joe Biden's policies.

Persons: Donald Trump, Germany's DAX, Joe Biden, Trump, Joe Biden's Organizations: CAC, IG, Trump, White, Republican National Convention, House Locations: Asia, Pacific

☆ Jefferies names 'yet-to-be discovered AI play' in Taiwan, giving it 42% upside potential
▼ + stars: | 2024-07-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Jefferies has identified a lesser-known and potentially undervalued Taiwanese company poised to benefit from the growing artificial intelligence sector. The investment bank said Insyde Software, listed on the Taipei Exchange, is well positioned to capitalize on the increasing demand for AI-enabled personal computers and servers. Jefferies initiated coverage of Insyde with a research note titled "Firmware Leader and Yet-to-be Discovered AI Play" on July 9 with a "Buy" rating and a price target that suggests a potential 42% upside from current levels. However, the stock has already risen by more than 30% since the ratings action, according to FactSet data, which shows the stock currently offers 17% upside potential. Founded in 1998, Insyde has established itself in the firmware industry, commanding over 50% market share in the personal computer segment, Jefferies suggests.

Persons: Jefferies, Insyde, Matt Ma, — CNBC's Michael Bloom Organizations: Interactive, Microsoft, Nvidia, Qualcomm, Intel, Dell, HP Locations: Taipei, Taiwan

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Microsoft, Amazon, Advanced Micro Devices and more
▼ + stars: | 2024-07-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley raised its price target on the iPhone maker to $273 per share from $216. Morgan Stanley downgrades BP to equal weight from overweight Morgan Stanley downgraded the oil major due to "weak earnings." Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said it has "increased clarity" on AI monetization. Citi names KLA Corp. a top pick Citi raised its price target on the semiconductor equipment maker to $980 from $760. Morgan Stanley downgrades Rocket Lab to equal weight from overweight Morgan Stanley said it sees a "limited catalyst path" for the space company.

Persons: Morgan Stanley, Apple, Morgan Stanley downgrades, TD Cowen, Teck, Baird, CARR, Zeta, John Donovan, AAPL, Wells, Tesla, underperform Wells, it's, Evercore, it's bullish, DDOG Organizations: Netflix, Nvidia, Devices, AMD, Citi, Electronic Arts, College Football, BMO, Teck Resources, JPMorgan, Biosciences, Zeta Global, Citi downgrades Bank of New York Mellon, Bank, New York Mellon, Apple, IOL, Amazon, UW, CIO, Susquehanna, Caesars, MGM, PENN, Bank of America, KLA Corp, OW, Department of Defense Locations: 2H24, Dell, Teck, TSLA, Las Vegas

☆ China third plenum: Communist Party meets to set direction for troubled economy
▼ + stars: | 2024-07-14 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Stakes are high for the meeting, which takes place every five years and is known as China’s third plenum. It has historically been a platform for the party’s leadership to announce key economic reforms and policy directives. China’s gross domestic product expanded by 4.7% in the April to June months, compared to the previous year. But observers of China’s opaque political machine don’t believe there will be fundamental economic reforms this time around. Uncompleted residential buildings at a real estate project on the outskirts of Shenyang in China's Liaoning province earlier this year.

Persons: Hong Kong CNN —, Xi Jinping, Xi, , Xi’s, Andrea Verdelli, They’ll, ”, Neil Thomas, Jing Qian, Li Shangfu, Qin Gang, Li Yuchao, Xu Zhongbo Organizations: Hong Kong CNN, Communist Party, West, Reuters, party’s Central, US, Congress, Bloomberg, Getty, Observers, ” Asia Society Center, China, Tech, EU, Central Committee, Foreign, People’s Liberation Army Rocket Force Locations: China, Hong Kong, Beijing, United States, Europe, party’s, Shenyang, China's Liaoning, China's Shandong

☆ How Boeing defrauded the United States and escaped with a slap on the wrist
▼ + stars: | 2024-07-13 | by ( Chris Isidore | Pete Muntean | ) edition.cnn.com time to read: +10 min

Boeing agreed to plead guilty to a charge that it defrauded the Federal Aviation Administration, hiding crucial information about a design flaw on the 737 Max during its original certification process. Boeing attorneys had it as part of their mission to make sure that its executives did not face any criminal charges, Lindquist said. A Boeing spokesman said the company had no comment about the anticipated guilty plea or the case beyond a brief statement confirming the agreement. Another way to make executives payEven if there are no criminal charges brought against executives, they can face significant penalties, Arlen said. Why Boeing will keep its government contractsThe most serious penalty that Boeing could face is by far the least likely – it could be barred from federal government contracts due to its guilty plea.

Persons: Critics, ”, Peter Goeltz, Goeltz, “ I’m, Moody’s, Paul Cassell, Jemal Countess, “, Mark Lindquist, Lindquist, FAA ”, Mark Forkner, ” Lindquist, there’s, that’s, Arlen, Dave Calhoun, Dennis Muilenburg, Calhoun, Max, Patrick Ryder, Robert Clifford, – CNN’s Natasha Bertrand Organizations: New, New York CNN, Boeing, Federal Aviation Administration, National Transportation Safety Board, CNN, ”, Alaska Airlines, Justice Department, FAA, Volkswagen, University of Utah, Ethiopian Airlines, Max, Alaska Air, DOJ, “, Department of Defense, Pentagon, Air Force, Department of Justice, they’re Boeing Locations: New York, Alaska, Indonesia

☆ Israel’s Netzah Yehuda: How an army unit deemed abusive by the US is shaping the fight in Gaza
▼ + stars: | 2024-07-13 | by ( Cnn S International Investigations Team | ) edition.cnn.com time to read: +25 min

In this 2014 photo, Israeli soldiers in the Netzah Yehuda battalion are seen taking part in training in the Israeli-controlled Golan Heights, near the Syrian border. While he was in Netzah Yehuda, he said, the battalion’s commanders played a key role in perpetuating a culture of violence, both by standing by as it happened and promoting it. The findings by the expert panel would have been enough to disqualify a military unit from any other country, the officials said. Lt. Col. Nitai Okashi oversaw the Netzah Yehuda battalion from 2018 to 2020. Lt. Col. Uri Levy was in charge of Netzah Yehuda from 2014 to 2016.

Persons: Yehuda, Menahem Kahana, Benjamin Netanyahu, Antony Blinken, Mike Johnson, Israel “, Blinken, Netzah Yehuda, –, ” Charles Blaha, they’re, ”, “, Biden, Israel, Netzah, Ahmad Jamil Fahd, Sanad, Shin Bet, Gil Cohen, Josh Paul, Paul, CNN’s Christiane Amanpour, Amanpour, ” Paul, Eyad Baba, Joe Biden, Leahy, Sen, Patrick Leahy, Charles Blaha, Blaha, Omar Assad, Assad, Netzah Yehuda –, Mati Shevach, Nasser Nasser, ” Blaha, Shevach, Nitai Okashi, Okashi, Der Spiegel, , Uri Levy, Levy, Johnson, don’t, ” Netzah Yehuda, Col, Shlomo Shiran, Katie Polglase, Benjamin Brown, Barbara Arvanitidis, Alex Platt, Mark Baron, Augusta Anthony, Alberto Mier, Toby Hancock, Gianluca Mezzofiore, Laura Smith, Eliza Mackintosh, Dan Wright, Matt Wells Ami Kaufman, Jennifer Hansler Organizations: CNN, West Bank, Israel Defense Forces, US State Department, State Department, Getty, IDF, State Department’s Office, Security, Human Rights CNN, Congress, Department, Israel Border Police, Internal Security Forces, ” CNN, Israeli Air Force Base, Magen, State, Human, Kfir Brigade, AP, Netzah, Urban Warfare Training Center, CBS, Battalion, Kfir Infantry Brigade, West Bank ., Jerusalem Brigade, Britain’s Guardian, Okashi, Israeli, Augusta Anthony Visual Locations: Israeli, United States, Gaza, Golan, Syrian, AFP, Palestinian, Israel, Ramallah, Rahat, Jerusalem, Jiljilya, Col, West Bank, Jiljiliya, Beit Hanoun

☆ Buy these stocks ahead of earnings, including this Nvidia peer, Bank of America says
▼ + stars: | 2024-07-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Earnings season is revving up, and Bank of America has picked out a series of stocks to buy in advance of their quarterly reports. CNBC Pro combed through top research from Bank of America to find buy-rated stocks ahead of earnings. Other positive catalysts include "higher power prices, upward revisions to transmission revenues [and] accretive asset sales," Pereira wrote. Meanwhile, competition remains fierce from the likes of Nvidia , but Arya said he's standing by Broadcom's "best-in-class management team." … It commands ~83% market share & we think it stands to further dominate the space as metal card issuance soars.

Persons: Arthur Pereira, Pereira, Vivek Arya, Arya, Broadcom's, Cassie Chan, Chan, CompoSecure, … EDU, CMPO Organizations: Bank of America, CNBC, Broadcom, Eletrobras, Taiwan Semiconductor Manufacturing, Oriental Education & Technology, VMware, Nvidia, New, Taiwan Locations: U.S, China

☆ Ericsson's Q2 sales fall a smaller-than-expected 7%
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: +1 min

Swedish telecom gear maker Ericsson reported a smaller-than-expected 7% drop in second-quarter sales on Friday as sluggish demand for 5G gear in most markets was slightly offset by 14% growth in North America. Revenue dropped to 59.9 billion crowns ($5.69 billion) from 64.4 billion crowns a year ago. Analysts, on average, had forecast revenue of 58.3 billion crowns in an LSEG poll. Both companies were more upbeat in April, however, projecting a stronger second half of the year. However our sales will benefit during the second half from contract deliveries in North America," said CEO Börje Ekholm in a statement.

Persons: Börje Ekholm Organizations: Ericsson, Revenue, Nokia Locations: Swedish, North America, India

☆ Former Air Force engineer arrested on charges related to a C-130 crash that killed 15 Marines and one Navy sailor in 2017
▼ + stars: | 2024-07-12 | by ( Thomas Novelly | Konstantin Toropin | ) www.businessinsider.com time to read: +5 min

"Fisher was also one of the key decision-makers who removed the critical inspection procedure in August 2011," prosecutors allege. AdvertisementA C-130 flies above Robins Air Force Base in Georgia. Related storiesThe crash investigation revealed "gross negligence" in the maintenance culture at Robins Air Force Base, but "Fisher and the System Program Office avoided scrutiny," federal prosecutors said. A C-130 Hercules aircraft undergoes scheduled maintenance in a hangar at Robins Air Force Base. US Air Force photo by Joseph MatherInvestigators began zeroing in on Air Force Materiel Command Form 202, a document that must be filed when maintenance personnel need to request permission to deviate from technical manuals when making repairs.

Persons: —, James Michael Fisher, Fisher, Jamal D, Joseph Mather Investigators, Jessica Jenson, Chad E, Jenson, Lance Cpl, Samantha Schwoch Organizations: Service, Air Force, Robins Air Force Base, KC, Business, Robins, US Air Force, Sutter, Marine Corps KC, Navy, Marine Corps, Air Force Materiel, US Marine Corps, Justice Department Locations: Georgia, Mississippi, Leflore County , Mississippi, Florida, Portugal

☆ Opinion: This film is chilling reminder of how ‘not sorry’ Louis C.K. is
▼ + stars: | 2024-07-12 | by ( Opinion Sara Stewart | ) edition.cnn.com time to read: +8 min

CNN —“Sorry/Not Sorry,” in theaters Friday, revisits the 2017 comedy-world firestorm involving five women’s accounts of sexual misconduct by comedian Louis C.K. only to be shut down; and Abby Schachner, a comic and writer who went public with her account of C.K. Then it was followed by C.K.’s Grammy-winning 2022 album “Sincerely Louis C.K.,” in which he joked about the behavior as a sexual hangup rather than abuse. “There are dozens of Russell Brands,” was the headline of one Guardian piece on female comics. I want a world where female comics have a workplace where they feel they’ll be supported — and, more importantly, employed — if they speak out about abuse.

Persons: Sara Stewart, CNN —, Louis C.K, ” Sara Stewart Todd Thompson, Caroline Suh, Cara Mones, Jen Kirkman, Megan Koester, Abby Schachner, Rolling, Suh, C.K, ’, it’s, Tig Notaro, Timm Sharp, Stephanie Allyne, Notaro, she’d, haven’t, they’re, …, Dave Chappelle, Olivia Cathcart, Maria Bamford, Bamford, Russell Brand, Brand, ” Organizations: CNN, New York Times, C.K, Toronto, Hollywood, New York, Paste Magazine, Russell Brands Locations: Pennsylvania, Mississippi

☆ Why David Ellison should think twice about abandoning Paramount+ once the Skydance merger goes through
▼ + stars: | 2024-07-12 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Read previewParamount's flagship streaming service gets less attention and respect than it deserves — including, perhaps, from its new owners. Skydance, led by aspiring media mogul David Ellison, publicly unveiled its plan to invest billions into the so-called "New Paramount." Those lines likely have employees in Paramount's streaming division shaking in their shoes. It certainly sounds like Skydance is keen on trimming spending on the service or shacking it up with another streaming service like Warner Bros. Paramount's streamer had the highest share of subscriptions added in the first quarter in the US, according to data from Antenna.

Persons: —, Skydance, David Ellison, Ellison, Discovery's Max, Max, there's, Puck's Matthew Belloni Organizations: Service, Paramount, CBS, Nickelodeon, Business, Warner Bros, Netflix, Amazon Prime Locations: Canada, Mexico, Australia, Europe, Latin America, South America

☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Micron, Apple, Starbucks, Amazon, Netflix, Oracle, Microsoft & more
▼ + stars: | 2024-07-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

forward Price Target (28% upside)." Bank of America reiterates Micron as buy Bank of America said it's sticking with its buy rating after a series of constructive management meetings. Benchmark reiterates Nvidia as buy Benchmark raised its price target on Nvidia to $170 per share from $135. "We are raising our rating on Booking Holdings (BKNG) to Buy from Hold and establishing a new $4,700 per share price target." "We are initiating coverage on Carvana Co. with a BUY rating and $155 PT."

Persons: Tesla, Wolfe, Price, Bernstein, Apple, Morgan Stanley, it's, BTIG, Baird downgrades Visteon, Baird, Jefferies, Jill, Piper Sandler, Piper, DraftKings Organizations: UBS, Spotify, Citi, Bank of America, Micron, Barclays, Medicines, JPMorgan, Netflix, Amazon's, Nvidia, Western Digital, Holdings, Booking Holdings, Jefferies, Inter, Microsoft, Oracle, Deutsche Bank, Deutsche Locations: 2H24

☆ Katy Perry's new song 'Woman's World' isn't as bad as we feared. It's worse.
▼ + stars: | 2024-07-12 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +8 min

Listening to the album's lead single, "Woman's World," I have to assume it's a portal to the past. In the music video for "Woman's World," Perry's visuals are clearly meant to be tongue-in-cheek. Five people are credited as songwriters for "What Makes a Woman," but none overlap with the six writers credited for "Woman's World." She wanted Dr. Luke and all the baggage he brings; all four other songwriters on "Woman's World" are Dr. Luke collaborators or signees. Perry's 'Woman's World' proves she's stuck in a sound of the pastSurely Perry knew she'd face backlash — and for what?

Persons: —, Katy Perry, Rosie the, she's, indiscreet, It's, Perry, Dr, Luke, Perry's, Perry hadn't, Kesha, James Devaney, Luke countersued Kesha, he's, who's, Loctor Duke, Doja, Nicki Minaj's, Kim Petras, Perry isn't, Katy Perry's, Jack Antonoff, SG Lewis, Zedd, Katy, she'd, Hillary Clinton Organizations: Service, Business, New York, Court, Tyson Trax, Loctor, Capitol Records, Stone Locations: traipsing, Perry's, California

☆ IMF says emerging market capital inflows recover to 2018 levels
▼ + stars: | 2024-07-12 | by ( David Lawder | ) www.reuters.com time to read: +3 min

The IMF said in the report that emerging markets have seen a decline in the more volatile net portfolio inflows, but net inflows of foreign direct investment (FDI) has been more stable. At the same time, the report said that China saw net capital outflows over the 2022-2023 period, including net negative FDI inflows. Overall, global gross capital inflows declined to 4.4% of global GDP, or $4.2 trillion, in the 2022-2023 period, from 5.8 percent of global GDP, or $4.5 trillion, in 2017-2019. But the U.S. benefited strongly from the shifts, accounting for 41% of global gross inflows during the 2022-2023 period, nearly double its 23% share in 2017-2019. The U.S. share of global gross outflows also increased, to 21% from 14% during the same periods.

Persons: Christine Lagarde, Nicolas Dujovne, Yuri Gripas, David Lawder, Franklin Paul, Alistair Bell Organizations: Monetary Fund, Argentine, REUTERS, China, IMF, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S

☆ Millennials inherited a dusty old apartment in Italy. They renovated it — only to be told they should have left it alone.
▼ + stars: | 2024-07-12 | by ( Maria Noyen | ) www.businessinsider.com time to read: +7 min

Courtesy of Victoria Craparotta and Flavio FabianiFrom May to August, he worked alongside contractors to turn it into a home fit for him and his longtime girlfriend, Victoria Craparotta, whom he met in 2019 on a study abroad program in Malaga, Spain. Courtesy of Victoria Craparotta and Flavio FabianiCraparotta and Fabiani aren't the only ones to get heat for updating an old home. A young couple renovating a starter home in Rhode Island told BI in May that they received "flak" online for making their 1950s bathroom, covered with bubblegum-pink tile, more neutral. AdvertisementFor Fabiani and Craparotta, modernizing the apartment reflects who they are: a young couple who don't want to live in an apartment from a bygone era in Italy. "A lot of people see Italy as this idyllic place and that it's all vintage," Craparotta said.

Persons: —, Flavio Fabiani, Fabiani, He'd, Craparotta, Victoria Craparotta, they'd, Fabiani's, renovators, Flavio Fabiani Craparotta Organizations: Service, Business, National Association of Realtors Locations: Pigneto, Malaga, Spain, Canada, Italy, millennials, Rhode Island

☆ AT&T Says Data of ‘Nearly All’ Customers Was Breached in 2022
▼ + stars: | 2024-07-12 | by ( Jenny Gross | More About Jenny Gross | ) www.nytimes.com time to read: +1 min

A cyberattack on the telecommunications giant AT&T exposed data from “nearly all” of its customers and downloaded it to a third-party cloud platform, AT&T said on Friday. “We have taken steps to close off the illegal access point,” AT&T said in a statement. The company said it was working with law enforcement to arrest those involved, and that at least one person had been apprehended. The compromised data included files containing AT&T records of calls and texts from cellular customers, wireless network customers and landline customers between May 2022 and October 2022, and records from Jan. 2, 2023, for a small number of customers, the company said. While the data does not include customer names, it is often possible to link a name to a phone number using online searches.

Persons: “ Locations: “

☆ Buying the dip on a cheap stock? Don't do it 'just because the price has gone down,' says investing chief
▼ + stars: | 2024-07-12 | by ( Ryan Ermey | ) www.cnbc.com time to read: +6 min

"Buying because the stock price has gone down without knowing some of the underlying issues or without understanding some of the underlying activities, could be problematic," says Clark Bellin, president and chief investment officer at Bellwether Wealth. After all, a stock could take major losses and then soar to new heights à la Apple. But what about that same markdown in the price of that company's stock? You'll just have to figure some things out before you buy, says Sam Stovall, chief investment strategist at CFRA. Rather than scrambling to do research, he says, keep a watchlist of stocks you'd be interested in buying at the right price.

Persons: Clark Bellin, Sam Stovall, Bellin, Charles Rotblut, Stovall, It's, Raife Giovinazzo, Giovinazzo Organizations: Blockbuster, Nike, American Association of, Fuller, Thaler Asset Management, Nasdaq, Yahoo Finance, CNBC

☆ Stocks making the biggest moves midday: Delta Air Lines, SoundHound AI, WD-40, Tesla and more
▼ + stars: | 2024-07-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines in midday trading: Delta Air Lines — The stock fell almost 5% after the airline issued a sales growth forecast for the third quarter that came in below expectations. The company also reported an almost 30% decrease in net income for the second quarter compared to a year ago. Shares of major airline stocks American Airlines and United Airlines also fell around 4.7% and 3.7%, respectively, following the results. WD-40 reported total net sales of $155 million in the fiscal third quarter, up 9% from the year-ago period. Semiconductor names — Investors took a few chips off the table on Thursday, selling high-flying semiconductor stocks.

Persons: QuantumScape, Conagra, Lantheus, Tesla, Horton, —, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Tanaya Macheel, Darla Mercado Organizations: Delta Air Lines, American Airlines and United Airlines, Costco, Peugeot, Opel, Vauxhall, Lantheus Holdings, Medicare, Services, PepsiCo, Revenue, Bloomberg News, Bloomberg, Industries, Builders, Semiconductor, —, VanEck Semiconductor, Nvidia Locations: U.S, Canada, Europe

☆ UK economy returns to growth in May, beating expectations as British pound hits four-month high
▼ + stars: | 2024-07-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile. LONDON — The U.K. economy grew by 0.4% in May, flash figures published by the Office for National Statistics showed on Thursday, with the British pound jumping to a four-month high against the U.S. dollar after the announcement. The British economy exited a shallow recession in the first quarter of the year, then flatlined in April. Goldman Sachs last week upgraded its growth forecast for the U.K. following left-of-center Labour's thumping victory in the country's general election.

Persons: Sterling, Keir Starmer, Goldman Sachs, Ashley Webb, Price, BOE Organizations: Office, National Statistics, U.S, Gross, Labour Party, Capital, Bank of England's, Bank of England, European Central Bank Locations: London, United Kingdom, The City, British, U.K

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