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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe US dollar is 'not forever' a safe haven asset, says Dreyfus and Mellon's ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and macro strategist, joins 'Squawk on the Street' to discuss what the rise in the long end of the yield curve could do for the Federal Reserve, how the United States' rate decision impact the global economy, and more.
Persons: Dreyfus, Mellon's Reinhart Vincent Reinhart Organizations: Mellon, Federal Reserve Locations: United States
Two people converse in a soybean field during harvest season in Deerfield, Ohio, U.S., October 7, 2021. REUTERS/Dane Rhys/File Photo Acquire Licensing RightsPARIS, Oct 20 (Reuters) - Louis Dreyfus Company will build a soybean-processing plant in Ohio, the global crop merchant said on Friday, adding to a booming expansion of oilseed crushing in North America encouraged by biofuel use. Dreyfus will start construction in early 2024 on the facility in Upper Sandusky that will have annual soy-crushing capacity of 1.5 million metric tons, the company said in a statement. The plant will have capacity to produce 320,000 metric tons per year of edible soybean oil and 7,500 metric tons of lecithin, it said. Dreyfus said earlier this year it will more than double the size of its Canadian canola crushing plant in Yorkton, Saskatchewan.
Persons: Dane Rhys, Louis Dreyfus, Dreyfus, Archer Daniels, Gus Trompiz, Karl Plume, Jonathan Oatis, Rod Nickel Organizations: REUTERS, Rights, Louis Dreyfus Company, Reuters, Regional Growth, Archer Daniels Midland, Thomson Locations: Deerfield , Ohio, U.S, Ohio, North America, Upper Sandusky, North Dakota, Yorkton , Saskatchewan, Chicago
There were 68 active fund launches in the third quarter as of Sept. 22, compared to 49 indexed fund launches, according to CFRA. Passive funds still make up the majority of the ETF market, and they typically cost less than active products. JEPI, the biggest active ETF, has underperformed the S & P 500 this year but is still attracting new cash. "One of the problems with straightforward active funds, and we do run some straightforward active funds, is that very often ... you are tethered to that broad index, whatever happens to be in that. Abbott's firm launched five new active funds last week, including the Matthews Japan Active ETF (JPAN) .
Persons: Rachel Aguirre, Euan Munro, BNY Mellon, Cooper Abbott, Stephanie Pierce, Dreyfus, Jeremy Grantham's, Abbott Organizations: BlackRock, CNBC, JPMorgan —, Nasdaq, Newton Asset Management, BNY, Matthews Asia, Matthews Japan Active, SEC, Mellon & Exchange, BNY Mellon Investment Management Locations: BALI, BlackRock
Teachers got more time to dig into student test score data and lengthened classes to focus on specific skills. By spring 2022, the district ranked 12th in the state on math proficiency, with 57% of students reaching proficiency. There is less research on the use of targeted small group instruction in math and in middle grades. Math teacher Cheyenne Crider helps a seventh-grade student with a math problem at Piedmont Middle School in Piedmont, Alabama, on Thursday, Aug. 31, 2023. She oversees training for middle school math teachers through the Alabama Math Science and Technology Initiative.
Persons: Mike Hayes, Rebecca Dreyfus, TNTP, Dreyfus, Trisha Powell Crain, Hayes, " Hayes, Cassie Holbrooks, Lisa Hayes, Cheyenne Crider, Keri Richburg, Richburg, Holbrooks, Landon Pruitt, Pruitt Organizations: Teachers, Service, Piedmont City, Nationwide, AP Piedmont, Piedmont Middle, AP, Alabama Math Science, Technology Initiative, Research, Associated Press, Carnegie Corporation of New, Christian Science Monitor, Dallas Morning News, Idaho Education, Courier, The Seattle Times Locations: Alabama's, Wall, Silicon, Ala, Alabama, Piedmont , Alabama, Holbrooks, Piedmont, Carnegie Corporation of New York, Idaho, South Carolina
Gas is rapidly approaching $6 in one state
  + stars: | 2023-09-19 | by ( Matt Egan | ) edition.cnn.com   time to read: +6 min
In California, gas prices are rapidly approaching $6 a gallon. Nationally, gas prices remain well below the record of $5.02 set last June. Still, US gas prices climbed this week to $3.88 a gallon, the highest level of the entire year, according to AAA. Boosted by those two nations’ aggressive supply cuts, US oil prices climbed to as high as $93.74 a barrel on Tuesday. And this recent rise in gas prices is causing headaches for some in Washington.
Persons: it’s, That’s, Pain, Joe Biden’s, Jerome Powell, Powell, ” Nicholas Colas, Colas, , , Joe Brusuelas, Andy Lipow, Lipow, Russia don’t, Brent, Goldman Sachs, Vincent Reinhart, RSM’s, Reinhart, , Morgan Stanley, Kristina Hooper Organizations: New York CNN, , AAA, Brent, Federal, DataTrek Research, RSM, Lipow Oil Associates, Rockies, Citigroup, Fed, Mellon Locations: United States, West Coast, In California, Los Angeles, Long Beach, California, Washington and Nevada, Saudi Arabia, Russia, It’s, Washington, OPEC
Student loan repayments restart in October after a three-year suspension during the COVID-19 pandemic. In isolation, none would likely shift policymakers' sense of the short-term risks or change their focus on quelling still-elevated inflation. By Goldman's estimate the economy would still be growing at a 1.3% annual rate at that point. But the amounts they see sliced from GDP are more than the 1% growth rate Fed officials expected the economy to muster as of June, and beyond many private forecasts as well. Some economists say the resumption of student loan repayments for tens of millions of borrowers may already be reshaping behavior.
Persons: Goldman Sachs, Vincent Reinhart, Reinhart, Michael Pearce, Ian Shepherdson, Kieran Clancy, They've, Howard Schneider, Dan Burns, Andrea Ricci Organizations: . Federal Reserve, United Auto Workers, Federal, Republicans, Reuters Graphics Reuters, Mellon, Reuters, Oxford Economics, Congressional, U.S . Department, Education, Thomson
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed on schedule to pause in September: Dreyfus and Mellon's Vincent ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and macro strategist, joins 'Squawk on the Street' to discuss the August CPI print's impact on interest rates, what to expect from the Fed's next meeting, and more.
Persons: Dreyfus, Mellon's Vincent Reinhart Vincent Reinhart Organizations: Fed, Mellon
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Dreyfus & Mellon's Vincent ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and macro strategist, joins 'Squawk on the Street' to discuss the August CPI print's impact on interest rates, what to expect from the Fed's next meeting, and more.
Persons: Dreyfus, Mellon's Vincent Reinhart Vincent Reinhart Organizations: Mellon
The 2023 stock market rally caught many investors off guard, with mountains of excess cash sitting in money market funds. "Money market balances are building up, which is unusual given how much the stock market has rallied recently. And history suggests that money market funds are not always fuel for a buy-the-dip trend to support a late-stage rally. Through that lens, the growth of money market funds in 2023 can also be linked to the regional bank crisis earlier this year. Clissold said discussions with wealth advisory clients suggest that "some of that money market fund money does leak into the stock market," albeit over time.
Persons: Emmanuel Cau, Callie Cox, Cox, Todd Sohn, Sohn, Ed Clissold, Ned Davis, Clissold, John Tobin, Dreyfus, I'm, corporates, Tobin Organizations: Bank of America, EPFR, Investment Company Institute, Nasdaq, Barclays, Money, Federal Reserve, Ned, Ned Davis Research, BNY Mellon Investment Management, CIO Locations: U.S
Brazil clears bottlenecks to oust US as top corn exporter
  + stars: | 2023-08-24 | by ( Ana Mano | ) www.reuters.com   time to read: +7 min
"We celebrated a lot... when (corn export) volumes via northern ports equaled Santos," said Sergio Mendes, head of Brazilian grain exporter group Anec. "By using northern ports... you are saving 20 reais ($4.12) per ton (of corn)." Treemap with data from Cargonave show the percentage share of corn exports of Brazil ports in north and south part of the country. CHEAPER ROUTE TO CHINAThe new export capacity has helped grains shipped from Brazil's northern ports to compete on logistics costs with U.S. farmers. "The greater share of shipments through northern ports reflects cheaper freight costs compared to routes to the ports in the south and southeast," said Thome Guth, a Conab official.
Persons: Adriano Machado, Sergio Mendes, Louis Dreyfus, Brazil's, Thiago Pera, Santos, ", Thome Guth, Ana Mano, Brad Haynes, Marguerita Choy Organizations: REUTERS, SAO PAULO, China, U.S, Cargill, Bunge, Louis Dreyfus Commodities, TCU, Shipping, U.S . Department of Agriculture, COFCO, Santos, Thomson Locations: Brasilia, Brazil, Santos, Ukraine, China, U.S, Northern, Madeira, Santarem, Barcarena, Itaqui, Canada, Argentina, Mato Grosso, CHINA, Iowa, Shanghai, Itacoatiara, Chicago, Para, Norte Sul, Tocantins, Goias, Minas Gerais, Mato
Representatives for Disney, Amazon and Netflix did not immediately respond to requests for comment. And critics seem to say that the quality of content being produced is actually in decline," Khan told The Ankler podcast. The SAG-AFTRA actors union, which went on strike July 14, also is seeking an increase in base pay and residuals. The WGA letter did not single out other companies, including Apple (AAPL.O), Google parent Alphabet (GOOGL.O) and Warner Bros Discovery (WBD.O), which also offer streaming media options. Reporting by Lisa Richwine and Dawn Chmielewski; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.
Persons: Julia Louis, Dreyfus, Christine, Walt Disney, Linda Khan, Khan, Lisa Richwine, Dawn Chmielewski, David Gregorio Our Organizations: Warner Bros ., Screen, Writers Guild America, Guild of America, Netflix, Disney, Federal Trade Commission, WGA, Hollywood, SAG, Apple, Google, Warner Bros Discovery, Thomson Locations: Burbank , California, ANGELES
"It is not going to be easy for them (Russia)," said one industry executive with knowledge of grains exports. Last year, Russia exported a record volume of wheat on ships chartered from international companies and traders. "Most of what is coming out is dealt with by Russian traders using (shadow) fleet ships, which international traders would not touch". The Black Sea remains a critical area for Russian exports, with other locations more complicated and costly. Russia's Black Sea terminals handle about 70% of the country's grain exports.
Persons: Vladimir Putin, Eduard Zernin, Zernin, Cargill, Louis Dreyfus, Viterra, Dreyfus, Bunge, Denmark's, Mike Salthouse, Rosagroleasing, Victoria Mitchell, Jonathan Saul, Nigel Hunt, Polina Devitt, Gus Trompiz, Frank Jack Daniel Our Organizations: General's, REUTERS, Russia's, Grain, Reuters, International Grains Council, Russian, Control, Thomson Locations: Russian, Odesa, Ukraine, Russia Russia, Moscow, Africa, Novorossiysk, Russia's Union, Russia, Turkey, China, Denmark's NORDEN, Bulgaria, Romania, United States, Europe, Taman, Russia's, ., London, Paris
But some of its beans, known as unwashed or 'natural' arabicas, have not previously been used for high-end benchmark coffee contracts around the world. Unwashed coffee is so-called because its fruit is left to dry whole before the bean is extracted. He added that relatively little Brazilian coffee ends up in ICE warehouses because it usually fetches higher prices in the physical markets. The two companies declined to comment on whether they had got a mix of semi-washed and unwashed beans certified by ICE. Zooming out to inflation adjusted terms however, coffee prices in 1980 were equivalent to about $8 per lb - a whopping 500% higher than they are today, according to Reuters calculations.
Persons: Juan Carlos Ulate, Dagoberto Suazo, unwashed, Marcio Ferreira, Cecafe, Ferreira, Louis Dreyfus, Pedro Mendoza, Maytaal Angel, Gustavo Palencia, Marcelo Teixeira, Frank Jack Daniel Our Organizations: Workers, REUTERS, LONDON, Agricultural, Intercontinental Exchange, Reuters, Producers, IF IT, ICE, Central, Thomson Locations: Grecia, Costa Rica, TEGUCIGALPA, Honduras, Brazil, America, Africa, Cafetaleras, Colombia, Central America, Peru, Europe, Swiss, Sucafina, U.S, London, Tegucigalpa, New York
REUTERS/Dado Ruvic/Illustration/File PhotoAug 2 (Reuters) - Bunge Ltd (BG.N) raised its full-year earnings outlook on Wednesday after improved processing margins helped the agri-trader post a second-quarter profit above Wall Street estimates, sending shares up sharply. "Shares are up due to a strong quarter and raised guidance. ADM reported a drop in second-quarter profit last month but raised full-year guidance, citing improving market conditions in the second half of 2023. Bunge said second-quarter adjusted earnings in Agribusiness, its largest segment in terms of sales and volumes, jumped 75% as a record-large Brazilian soybean crop boosted processing operations. Bunge's adjusted profit was $3.72 per share for the three months ended June 30, compared with analysts' estimate of $2.69 per share.
Persons: Dado Ruvic, Bunge, Arun Sundaram, Archer, Cargill, Louis Dreyfus, Shilpi Majumdar, Nick Zieminski, Marguerita Choy, Kirsten Donovan Organizations: Bunge, REUTERS, Bunge Ltd, Wall, CFRA Research, Daniels, Midland, ADM, Specialty, Saikeerthi, Thomson Locations: Ukraine, Bengaluru
CHICAGO, July 25 (Reuters) - Archer-Daniels-Midland (ADM.N) beat Wall Street expectations for second-quarter profit on Tuesday, as the grain trader and processor benefited from a record Brazilian soybean harvest and robust global demand for grain and oilseeds. ADM, which previously forecast full-year 2023 earnings at $6 to $7 per share, said it would raise its earnings outlook but did not provide details. ADM and its agribusiness peers, including Bunge (BG.N), Cargill and Louis Dreyfus, have capitalized on strong demand for food, feed and biofuel, while global food supply chain disruptions such as lower grain shipments from war-torn Ukraine have boosted prices. ADM's Carbohydrate Solutions unit capitalized on strong demand for sweeteners and starches, though results were dented by weaker ethanol margins. Results in the company's high-margin Nutrition segment struggled in what ADM called a "challenging demand environment."
Persons: Archer, Cargill, Louis Dreyfus, Arunima Kumar, Shilpi Majumdar, Mark Porter Organizations: Daniels, Midland, ADM, Bunge, ADM's Ag Services, Thomson Locations: Ukraine, Bengaluru
While there has been some scrambling to amend contracts linked to Libor over the past month, the transition was well telegraphed and no major issues are expected, loan and derivatives market participants and lawyers said in interviews. "I feel like it has been two to three years now that we have been re-papering all the legacy loans and legacy securities we purchased tied to Libor," said Scott DiMaggio, co-head of fixed income, at Alliance Bernstein. Friday at 11:55 a.m. British Summer Time (1055 GMT) marked the last publication for the 1-month, 3-month and 6-month U.S.-dollar Libor interest rates. Other U.S. dollar tenors were largely phased out for new contracts at the end of 2021 along with Libor rates linked to other currencies. Derivatives markets based on Libor had already mostly moved to new benchmarks without major disruption, while some corners of the loan markets, such as syndicated loans, have been busy with contract amendments, market participants said.
Persons: Scott DiMaggio, Alliance Bernstein, Shah, Federal Reserve Bank of New York's, Libor, Tal Reback, Gennadiy Goldberg, John McCrank, Gertrude Chavez, Dreyfus, Alden Bentley, Stephen Coates Organizations: YORK, Alliance, Regulators, Federal Reserve Bank of New, U.S, Britain's, Authority, Libor, TD Securities, Thomson Locations: London, Iran, U.S, New York
Confirmation of a likely genetic cause for the children’s deaths has implications far beyond Australia for parents who have been accused of killing or harming their babies. The advances in genetic testing used to free Folbigg are giving other families hope that science may explain why their children have died, but experts say sometimes even that can’t exonerate parents – often mothers – accused of harming them. How the science is helping othersOne of the lead authors of the study, Professor Carola Vinuesa, says that Folbigg’s case has encouraged other families and lawyers to come forward, seeking genetic evidence to clear mothers accused of harming their babies. Some mothers accused of injuring their children are seeking a genetic explanation for their symptoms to counter claims of child abuse, she said. “The majority of these mothers have not harmed their children, but the children have these very rare conditions.
Persons: Australia CNN — Kathleen Folbigg, Folbigg, seeped, don’t languish, ” Folbigg, , Kathleen Folbigg, Caleb, Patrick, Sarah, Laura, Folbigg’s, Craig, Emma Cunliffe, , Cunliffe, Roy Meadow, ” Cunliffe, Sharmila Betts, Betts, there’s, Reginald Blanch, she’d, – Caleb, Patrick –, Tom Bathurst, Carola Vinuesa, I’ve, we’ve, Meadow, Francis Crick, Carola Vinuesa's, Michael Bowles, Helen Hayward, Brown, “ It’s, Hayward, they’ve, aren’t, George W Bush, Tracy Chapman, she’s, Chapman, “ I’ve, We’ve, , ” Chapman, Stringer, Rhanee Rego, Andrew Dyer, Dyer, Michael Daley, Mr Bathurst, Mark Dreyfus, I’ll Organizations: Australia CNN, New South, CNN, ” Police, University of British Columbia’s Allard School of Law, , NSW, BSN, ABC, Child, Francis Crick Institute, Concorde, MySpace, Reuters, Australian Academy of Science, Law Council, Sydney Institute of Criminology, Australian Lawyers Alliance Locations: Brisbane, Australia, New South Wales, British, United Kingdom, Canada, London, United States, Iraq, Coffs Harbour , New South Wales, Reuters Bathurst, Scotland, Norway, New Zealand
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHarder for the Fed to restart rate hikes once they stop, says Dreyfus and Mellon's Vincent ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and macro strategist, joins 'Squawk on the Street' to discuss the Fed's inflation fight, why it would be a mistake not to hike rates, and more.
Persons: Dreyfus, Mellon's Vincent Reinhart Vincent Reinhart Organizations: Fed, Mellon
Australia to ban swastika, SS sign citing rise of far-right
  + stars: | 2023-06-08 | by ( ) www.reuters.com   time to read: +2 min
SYDNEY, June 8 (Reuters) - Australia said on Thursday it would introduce laws to the parliament next week banning public displays and sales of Nazi hate symbols, citing a rise in far-right activities at home. A ban on the Nazi salute will not be added to the federal law, the attorney-general said. Australia's spy agency has been warning far-right groups were on the rise in Australia and that they had become more organised and visible. Last year, a soccer fan who gave the salute at the Australia Cup final was banned for life from any games sanctioned by Football Australia. Dreyfus said all Australian states and territories had either passed laws or announced plans to ban Nazi symbols, and the proposed federal laws will mesh with the states'.
Persons: We've, Mark Dreyfus, we've, Dreyfus, Renju Jose, Michael Perry Organizations: SYDNEY, Nazi, Channel Seven, Australia, Football Australia, Thomson Locations: Australia, Melbourne, Sydney
Bloomberg News had reported on May 25 that Bunge and Viterra were in talks to combine, without providing details on the deal's terms and timing. Acquiring Viterra would bring Bunge revenue's revenues -- $67.2 billion in 2022 -- in line with Archer-Daniels-Midland, which registered sales of nearly $102 billion last year. In early 2017, Viterra, then known as Glencore Agriculture, attempted a takeover of Bunge, which was then valued at $11 billion. In May 2017, Bunge rebuffed Glencore after the latter made an informal approach to discuss "a possible consensual business combination." Viterra expanded its business of buying and selling grain in the United States through its $1.1 billion acquisition of Gavilon last year.
Persons: Bunge, Greg Heckman, Privately, Viterra, Archer, Louis Dreyfus Co, Glencore, Abigail Summerville, Anirban Sen, Jonathan Oatis Organizations: YORK, Bunge Ltd, Glencore Plc, Canada, Plan Investment Board, Columbia Investment Management Corp, Bloomberg News, Daniels, Midland Co, Cargill Inc, Bunge, Midland, Agriculture, Thomson Locations: Ukraine, Glencore, Brazil, Viterra, United States, Gavilon, New
AI already has divided studios and striking film and television writers, who want assurances that the emerging technology will not be used to generate scripts. SAG-AFTRA wants to ensure its members can control use of their "digital doubles" and ensure studios pay the actual actors appropriately, said Duncan Crabtree-Ireland, the union's chief negotiator. A representative for the AMPTP had no comment on its position on use of AI with actors. In negotiations with the Writers Guild of America (WGA), the AMPTP proposed discussing the topic once a year, which the Guild viewed as an attempt to avoid the issue. You're never going to see anything like that if we're all using AI."
Persons: Julia Louis, Dreyfus, Christine, Wes Anderson, Harry Potter, Bill Murray, Scarlett Johansson, AFTRA, Duncan Crabtree, Crabtree, Tom Cruise, Keanu Reeves, Reeves, Leland Morrill, we're, Morrill, Justine Bateman, Indiana Jones, Harrison Ford, Walt Disney, Ford, Stephen Colbert, James Earl Jones, Darth Vader, Carrie Fisher, AFTRA's Crabtree, Bateman, " Bateman, Lisa Richwine, Jorge Ramos, Dawn Chmielewski, Mary Milliken, David Gregorio Our Organizations: Warner Bros ., Screen, Writers Guild America, YouTube, SAG, Microsoft Corp, Walt Disney Co's, Lucasfilm, Disney, Alliance, Television Producers, Netflix Inc, Writers Guild of America, WGA, Thomson Locations: Burbank , California, ANGELES, Hollywood, Ireland, ., Los Angeles
“You Hurt My Feelings” sums up the Nicole Holofcener experience: funny in its wounded bluntness. Her characters — comfortable New Yorkers and Angelenos — tend to lash out; their preferred approach to honesty is brazenness. But Holofcener is drawn more to the process of healing than she is to the wielding of hurt. By that point the movie’s already shown us what Beth’s and Don’s lives are like, together and apart. One thing that’s probably kept the marriage firm has been saying “I love this” and “it’s great,” when it’s not.
HOLOFCENER I feel that way. Do you usually feel this way right after you’ve finished making a film? HOLOFCENER I’m usually out of ideas every day. LOUIS-DREYFUS I wasn’t thinking about this character as an age thing. LOUIS-DREYFUS To tell you the truth, I feel like this age, there’s just so much more to do.
There's a "new" Elizabeth Holmes in town, at least according to The New York Times. But did her teardown kill the black turtleneck? In March 2015, Glamour magazine asked Elizabeth Holmes about her style and ran a story about her called "Meet the $9 Billion Woman: Career Advice From Theranos Founder Elizabeth Holmes." Posters of Hulu's "The Dropout" feature Amanda Seyfried as Elizabeth Holmes, clad, of course, in the signature turtleneck look. Deep down, I don't think Homes killed the black turtleneck — not really.
May 5 (Reuters) - Russian bank National Bank Trust said it had filed a lawsuit in the British Virgin Islands against a number of major commodity traders and was seeking over $1 billion in relation to what it said was fraud. The case is linked to the central bank's 2017 bailout of two private banks - Rost Bank and B&N Bank (Binbank). National Bank Trust is the legal successor to Rost Bank, which it says was defrauded by employees working for the commodity traders. A Bank Trust spokesperson said its international legal teams had carried out a large-scale investigation and it had extensive evidence to support its case. The central bank aims to liquidate Bank Trust in 2027.
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