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☆ Citi downgrades this crypto trading giant over uncertain regulatory path
▼ + stars: | 2023-05-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Citi thinks cryptocurrency exchange Coinbase's future will be plagued with regulatory uncertainty, and investors may want to steer clear because of that. The firm downgraded shares of the platform to neutral/high risk from buy/high risk with a $65 price target, down from $80. COIN YTD mountain Coinbase stock could face more pressure as the legal dispute with the U.S. Securities and Exchange Commission unfolds, Citi says. But Citigroup isn't convinced that's likely, especially since Coinbase is pursuing its own lawsuit against the SEC in response to a Wells notice received in March. Coinbase shares fell more than 1% after the downgrade.

☆ Big apartment landlords lean in to AI and proptechs as profit squeezes loom
▼ + stars: | 2023-04-28 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

Apartment landlords are getting squeezed by rising interest rates and insurance costs . interest rates and insurance . But some big US landlords were already waist-deep in labor-saving technologies of their own to ward off profit squeezes, like the ones many are facing today. On the supply side, the race has been on for some time to sell landlords on tech that works. In this case, landlords are adapting to today's higher interest rates from a time when borrowing costs were low and taking any pressure off operations, he said.

☆ 'Dream' hoard of 1000-year-old Viking coins discovered by amateurs on a metal-detector vacation
▼ + stars: | 2023-04-22 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

A group of amateur archaeologists in Denmark found a Viking silver hoard. The people who discovered the trove were on a metal-detector holiday when they came across the find. The three people who discovered the treasure trove — Jane Foged-Mønster, Louise Stahlschmidt and Mette Norre Bækgaard — told TV2 Nord that they had been on a metal-detector holiday when they made their amzing discovery. But these finds aren't the end of the discoveries, with archaeologists from the North Jutland Museums being given the grant to investigate the site further. "I hope we find the remains of a large Viking hall," Christiansen told TV2 Nord.

The survey's flash services sector PMI rose to 53.7, the highest reading in a year, from 52.6 in March. Economists polled by Reuters had forecast the services PMI falling to 51.5. Flash PMIIn the euro zone, the bloc's dominant services industry saw already-buoyant demand rise too, more than offsetting a deepening downturn in manufacturing. However, the manufacturing PMI fell to 45.5 from 47.3, its lowest since the coronavirus pandemic was cementing its grip on the world three years ago. "The PMI sheds a positive light on the economic performance in the euro zone, as a pickup in service sector activity is boosting growth," said Bert Colijn, senior euro zone economist at ING, noting manufacturing weakness remained a concern.

In court papers, Sanderson said he suffered "permanent traumatic brain injury" as a result of the collision. Paltrow said that is when they both fell to the ground with Paltrow on top of Sanderson, in a heap of skis and limbs. Gwyneth Paltrow testifies during her ski crash trial, in Park City, Utah, U.S., March 24, 2023. Paltrow, who said she was upset and cursed at Sanderson after the collision, said she did not ski off until after Sanderson told Christiansen that he was fine. "I did not cause the accident, so I cannot be at fault for anything that subsequently happened to him," Paltrow said.

[1/2] European Central Bank (ECB) President Christine Lagarde speaks during a news conference following the ECB's monetary policy meeting in Frankfurt, Germany March 16, 2023. Reuters Graphics Reuters GraphicsPresident Christine Lagarde noted it was impossible to determine the future rate path amid "completely elevated" uncertainty stemming from market ructions. "Given financial instability risks, there's growing uncertainty on future ECB actions beyond this pre-signalled rate hike," said Daniele Antonucci, chief economist and macro strategist at Quintet Private Bank. Piet Christiansen, chief analyst at Danske Bank, said he was sticking to a call for a 4% peak ECB rate. "Unless this turns into a macroeconomic crisis then we are ripe for a sell-off and a repricing of rate hike expectations," he said.

The ECB has contacted banks on its watch to quiz them on their exposure to the struggling Swiss lender, two supervisory sources told Reuters. Money market pricing suggested traders now saw less than a 20% chance of a 50 basis point rate hike at Thursday's scheduled ECB meeting. That's down from as high as 90% at the start of the session , when a source-based story saying ECB policymakers were leaning towards a half-percentage-point rate hike was published. While rapidly rising interest rates across major economies have raised concern about potential pressure points, many analysts still expected a large ECB hike given high inflation. Pictet's Ducrozet said the ECB could also ease collateral rules for banks, though not as much as the Federal Reserve.

Summary ECB signalled 50 bps hikeMarkets doubt its resolve and price 25 bpsFinancial turmoil seen derailing rate hike plansInflation to stay above target through 2025FRANKFURT, March 16 (Reuters) - European Central Bank policymakers are meeting on Thursday amidst turmoil in financial markets that could force it to divert from plans for another hefty interest rate hike even though inflation remains too high. Now the ECB must reconcile its inflation-fighting credibility with the need to maintain financial stability in the face of overwhelmingly imported turmoil. Complicating its task, the central bank for the 20 countries that use the euro currency has essentially already committed to a 50 basis point increase on Thursday. Money market pricing suggests that investors now see just a 30% chance of a 50 basis point increase, down from as high as 90% early on Wednesday. The peak ECB rate, also known as terminal rate, is now seen at only around 3.25%, down from 4.1% last week, an exceptional reversal in market pricing.

Investors reeled in their expectations for global central bank rate hikes, and bank stocks tumbled once again. Reuters GraphicsIn the money markets, a closely watched indicator of credit risk in the U.S. banking system edged up on Monday, as did other indicators of credit risk in the euro zone. The gap between two-year euro swap rates and two-year German bond yields , widened by around 20 basis points to 83 basis points, to the highest since Nov. 11. Reuters GraphicsIn Germany, two-year bond yields dropped more than 50 basis points, much more than a drop of 37 basis points on swap rates. Back in late 2008, when failed investment bank Lehman Brothers collapsed, this swap rate went as negative as 300 bps.

Markets remained fragile, with European bank stocks tumbling over 5% on Monday and U.S. banks set to open lower (.SX7P). Markets also moderated their view on UK rates and were pricing in a roughly 75% chance of a 25 bps hike when the Bank of England meets next week. Goldman Sachs said on Sunday the banking stress meant it no longer expected the Fed to hike rates next week. "It's not going to want to go clattering in with another 50 (bps hike) and see some other financial institution getting hosed." A new Fed bank funding scheme aimed at addressing some of Silicon Valley Bank's apparent problems with losses in its bond portfolio is expected to further help with stability for banks and bonds.

Investors reeled in their expectations for global central bank rate hikes, and bank stocks tumbled once again. Reuters GraphicsIn the money markets, a closely watched indicator of credit risk in the U.S. banking system edged up on Monday, as did other indicators of credit risk in the euro zone. The gap between two-year euro swap rates and two-year German bond yields , widened by around 20 basis points to 83 basis points, to the highest since Nov. 11. Reuters GraphicsIn Germany, two-year bond yields were last down over 40 basis points, much more than a drop of 24 basis points on swap rates. Back in late 2008, when failed investment bank Lehman Brothers collapsed, this swap rate went as negative as 300 bps.

☆ Lego looks to build on 2022 sales growth with more China stores
▼ + stars: | 2023-03-07 | by ( Jacob Gronholt-Pedersen | ) www.reuters.com time to read: +2 min

COPENHAGEN, March 7 (Reuters) - Toymaker Lego said store openings in China and strong demand in Western Europe and the Americas had delivered 17% sales growth in 2022, adding that it expects to outpace the market this year. Lego plans to open another 145 stores this year, mostly in China, which Christiansen said in an interview he expects will help it to grow sales by a high single-digit percentage. "After a few extraordinary years we may see a return to more normal growth," Christiansen said. "High growth in sales has helped us compensate for those extra costs on freight, energy and raw materials," he said. As part of its strategy of placing production close to its key markets, Lego plans to begin operating new factories in Vietnam and Virginia, U.S. in 2024 and 2025, respectively.

☆ Lego sales leap 17% as fans buy bigger, more complicated sets
▼ + stars: | 2023-03-07 | by ( Sarah Whitten | ) www.cnbc.com time to read: +4 min

Lego sales are building on pandemic-era growth, boosted by a diverse slate of products that cater to kids and adults alike. Another factor in offsetting those costs was strong demand for Lego's eclectic selection of building sets, CEO Niels Christiansen told CNBC. "It's not price increases driving it, if anything it's people buying some of the bigger and more complicated sets. Around 48% of Lego's 2022 portfolio was in the new product category, he said. While it doesn't share the percentage breakdown between digital and in-store sales, Christiansen said Lego is seeing "good traction" online and its brick and mortar sales continue to fuel its confidence in opening new stores.

"That would be a problem for any central bank." TUG OF WARLagarde's commitment also puzzled ECB-watchers because the central bank had previously said it wouldn't make such public predictions - known as forward guidance - anymore, but instead take each decision based on incoming data. This of course leads to a tug of war between the ECB and the markets on the narrative," he added. ING's Brzeski said the ECB lacked a clear thought-leader on its Governing Council who could steer markets like Lagarde's predecessor, Mario Draghi. "The cacophony of diverging voices and the lack of clarity on who is the leading voice keeps hurting the ECB," Brzeski said.

☆ Dollar edges up at start of new year but sentiment frail
▼ + stars: | 2023-01-02 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +3 min

It has weakened recently as markets bet a U.S. Federal Reserve tightening cycle may be nearing an end and sentiment remained fragile. The dollar index, which measures the value of the greenback against a basket of other major currencies, was trading up around 0.16% at 103.65 - off roughly six-month lows hit last week at around 103.38. Against the yen, the dollar was a touch softer at 130.94 , having hit its lowest levels since August last month. "There is an attempt by the dollar index to pull higher today but we do see that it is losing a good part of the strength it gained last year," said Ulrich Leuchtmann, head of forex research at Commerzbank. That Fed tightening helped lift the dollar index 8% last year in its biggest annual jump since 2015.

☆ Stocks buoyant while darker forecasts gather on the horizon
▼ + stars: | 2023-01-02 | by ( Nell Mackenzie | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.06%, just short of an index of global shares, which climbed 0.16%. The pan-European STOXX 600 index (.STOXX) climbed 0.6%, retracing little of the nearly 12% it lost in 2022, bludgeoned by central banks' aggressive monetary policy tightening. Elsewhere, the dollar edged almost 0.2% higher against a basket of major currencies, while the pound and euro fell 0.4% and 0.2% respectively. The benchmark 10-year yield climbed around 27 basis points (bps) last week and over 200 bps last year, ending 2022 around 3.88%. Germany's 10-year bond yield fell 8.4 bps to 2.47%, after hitting its highest since 2011 at 2.57% on Friday.

☆ Stocks edge higher as darker forecasts loom
▼ + stars: | 2023-01-02 | by ( Nell Mackenzie | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.04%, just short of an index of global shares, which climbed 0.21%. "Europe is taking the latest round of PMIs well enough, as the final readings help to confirm the view (hope?) DOLLAR STRUGGLING TO MAINTAIN STRENGTHElsewhere, the dollar edged almost 0.1% higher against a basket of major currencies, while the pound and euro fell 0.4% and 0.3% respectively. Germany's 10-year bond yield fell 13 bps to 2.43%, after hitting its highest since 2011 at 2.57% on Friday. Reporting by Nell Mackenzie Additional reporting Dhara Ranasinghe Editing by Mark Potter and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ A Wintry Twist on an Age-Old Tale
▼ + stars: | 2022-12-23 | by ( Keith Christiansen | ) www.wsj.com time to read: 1 min

Unless you are a miserly curmudgeon, such as Charles Dickens imagined as the protagonist of his famous Christmas tale, the likelihood is that you have a favorite Old Master painting that depicts the birth of Jesus and his veneration by shepherds or those mysterious “wise men from the east.” These are among the most frequently painted subjects of Western art; illustrations of a story that has proved irresistible. Already by the second century, the account found in the Gospels had been fleshed out to create a narrative that resonated on multiple levels. On the one hand, there is the tale of a pious, 12-year-old girl whose virginal state is entrusted to an old widower, Joseph—a carpenter by profession—who is shocked when he discovers she is pregnant and considers what action he should take to avoid the disgrace that will inevitably follow.

☆ Mental strength, moments of brilliance - how France reached the World Cup final
▼ + stars: | 2022-12-15 | by ( Julien Pretot | ) www.reuters.com time to read: +4 min

GROUP STAGE MATCH 2: FRANCE 2-1 DENMARKHaving lost their last two games against Denmark in June and September, France were facing their first real test of the tournament. LAST 16: FRANCE 3-1 POLANDAfter France went through a brief rough patch, Giroud opened the scoring to become France's all-time top scorer on 52 goals - moving one ahead of Thierry Henry. They went ahead thanks to a 25-metre Aurelien Tchouameni strike, but cracked early in the second half with Harry Kane converting a penalty after a Tchouameni foul. They went ahead on five minutes thanks to Theo Hernandez's high-hooked volley, forcing their opponents to take the initiative. France will play Argentina, who are also looking to win the World Cup for the third time, in Sunday's final at the Lusail Stadium.

Headline inflation slowed in November for the first time in 1-1/2 years, to 10%, raising hopes that sky-high price growth has passed. ECB President Christine Lagarde will likely be careful about calling a peak after last year's "big mistake" of insisting surging prices were "transitory," said Pictet's Ducrozet. ECB Chief Economist Philip Lane reckons wages would be a "primary driver" of price inflation even after energy price shocks fade. Closely-watched business activity data points to a mild recession and latest forecasts should show how the ECB views the coming slowdown. Lane believes record price growth will start to subside next year.

☆ A communications satellite the size of an apartment is so bright it can outshine stars, and astronomers are worried it could interfere with their research
▼ + stars: | 2022-12-07 | by ( Paola Rosa-Aquino | ) www.businessinsider.com time to read: +4 min

AST SpaceMobile deployed a 693-square-foot communications satellite into orbit called BlueWalker 3. Astronomers say it's as bright as some of the brightest stars, and warn it could impact their work. AST SpaceMobile bills it as the "largest-ever commercial communications array deployed in low Earth orbit." Astronomers are also concerned about how satellite constellations contribute to the loss to "humanity's ability to experience the natural night sky," according to the IAU statement. When we look up at night sky, many of the bright lights might not be stars — but satellites.

Market betting has been swinging between a 50- and a 75- basis-point increase when policymakers meet on Dec. 15. "It's extremely exciting but predicting the ECB for a market participant has become impossible," Carsten Brzeski, global head of macro at ING, said. That saves it from more painful changes of tack after ECB President Christine Lagarde went from all but ruling-out rate hikes this year to presiding over the steepest tightening cycle in the euro's history. But Lane said in a blog post on Friday it may "overstate" how persistent inflation may be. "Inflation is being driven by factors they can't control," he added, citing energy prices, geopolitical tensions and supply-chain disruptions as some of them.

☆ Midterm elections live updates: Pennsylvania races, New Hampshire Senate race too early to call
▼ + stars: | 2022-11-09 | by ( Brandy Zadrozny | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Sahil-Kapur-Headshot.Jpg | ) www.nbcnews.com time to read: +109 min

Share this -Link copiedWisconsin Senate and governor's races too early to call It is too early to call the Senate and gubernatorial races in Wisconsin, according to NBC News. Share this -Link copiedNew Hampshire Senate race too early to call The Senate race in New Hampshire is too early to call, according to NBC News. Share this -Link copiedPennsylvania Senate and governor races are too early to call After polls closed at 8 p.m. While Maricopa County election officials initially categorized the problem as a “hiccup,” it took hours before a solution was identified early Tuesday afternoon. In Columbus County, election officials allegedly were harassed by an “observer following one-stop workers” and photographing or filming the workers, it said.

While Maricopa County election officials initially categorized the problem as a “hiccup,” it took hours before a solution was identified early Tuesday afternoon. According to the poll, 46% of voters said their family’s financial situation is worse than it was two years ago. Civil rights groups, including the American Civil Liberties Union and the NAACP, filed a similar complaint Friday against state election officials. The app and portal had been down for part of the morning and the state's election hotline also briefly experienced issues. In Columbus County, election officials allegedly were harassed by an “observer following one-stop workers” and photographing or filming the workers, it said.

By the end of Election Day, approximately 21,000 total interviews will be conducted. Civil rights groups, including the American Civil Liberties Union and the NAACP, filed a similar complaint Friday against state election officials. The app and portal had been down for part of the morning and the state's election hotline also briefly experienced issues. In Columbus County, election officials allegedly were harassed by an “observer following one-stop workers” and photographing or filming the workers, it said. Share this -Link copiedSunny weather in most battleground states on Election Day It’s a bright and sunny Election Day in many battleground states!

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