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☆ Gold gains as weaker U.S. dollar, yields lift demand
▼ + stars: | 2023-11-23 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. arranged in Budapest, HungaryGold prices rose on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker U.S. dollar and lower Treasury yields buoyed demand for bullion. The dollar was down 0.1% against its rivals after gains in the last two sessions, making gold less expensive for other currency holders. The benchmark U.S. 10-year Treasury yields fell to a two-month low on Wednesday. Lower interest rates decrease the opportunity cost of holding gold.

Persons: Kelvin Wong, CME's Organizations: Heraeus SA, Solar, U.S, U.S ., Asia Pacific, . U.S, U.S . Federal Reserve, Fed Locations: Budapest, Hungary, ., OANDA

☆ Reaction to Sam Altman's return as OpenAI CEO
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +4 min

Sam Altman, CEO of Microsoft-backed OpenAI and ChatGPT creator speaks during a talk at Tel Aviv University in Tel Aviv, Israel June 5, 2023. REUTERS/Amir Cohen Acquire Licensing RightsCompanies Openai LLC FollowNov 22 (Reuters) - OpenAI said on Tuesday it had reached an agreement for Sam Altman to return as CEO days after his ouster, capping frenzied discussions about the future of the startup at the center of the artificial intelligence boom. THRIVE CAPITAL, OPENAI SHAREHOLDER"OpenAI has the potential to be one of the most consequential companies in the history of computing. "Sam Altman seems awfully powerful and it is unclear that any board would be able to oversee him. Altman and (Microsoft CEO) Nadella may have pushed to allow Altman a much freer hand."

Persons: Sam Altman, Amir Cohen, OpenAI, DANNI HEWSON, BELL, Altman, DANIELA HATHORN, Altman's, Greg, Brockman, ChatGPT's, would've, SUSANNAH STREETER, HARGREAVES LANSDOWN, Sam Altman's, KELVIN WONG, MAK, Nadella, hasn't, Supantha Mukherjee, Ankika Biswas, Bansari Mayur, Aditya Soni, Miyoung Kim, Nivedita Organizations: Microsoft, Tel Aviv University, REUTERS, BANK, OpenAI, MNC, OF, UNIVERSITY OF, UNIVERSITY OF SINGAPORE BUSINSS, Thomson Locations: Tel Aviv, Israel, UNIVERSITY OF SINGAPORE, OpenAI, Stockholm, Bengaluru

☆ Singapore REITs will be a 'compelling' investment theme in 2024: UBS Wealth Management
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingapore REITs will be a 'compelling' investment theme in 2024: UBS Wealth ManagementKelvin Tay from UBS Wealth Management says the U.S. treasury yields are expected to fall in 2024, which would make Singapore REITs an asset class worth investigating.

Persons: UBS Wealth Management Kelvin Tay Organizations: Singapore, UBS Wealth Management Locations: Singapore

☆ Oil retreats on caution ahead of OPEC+ meeting
▼ + stars: | 2023-11-21 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

Brent crude futures fell 51 cents, or 0.6%, to $81.81 a barrel by 0746 GMT, while U.S. West Texas Intermediate crude futures were at $77.32 a barrel, down 51 cents, or 0.7%. Both contracts climbed about 2% on Monday after three OPEC+ sources told Reuters that the group, made up of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, was set to consider whether to make additional oil supply cuts when it meets on Nov. 26. "Market participants have started to price in an extension of the current quantum oil supply cut into 2024 or even deeper cuts in the upcoming OPEC+ meeting," he added. OPEC+ is likely to extend or even deepen oil supply cuts into next year, eight analysts have predicted. Weekly stockpile reports from the American Petroleum Institute and the Energy Information Administration are due later on Tuesday and Wednesday, respectively.

Persons: Kelvin Wong, Helima Croft, Florence Tan, Yuka Obayashi, Sonali Paul, Jacqueline Wong Organizations: cnsphoto, REUTERS, Walmart Inc, SINGAPORE, Brent, U.S, West Texas, Reuters, Organization of, Petroleum, RBC Capital, Traders, Walmart, American Petroleum Institute, Energy Information Administration, Thomson Locations: Zhoushan, Zhejiang province, China, Singapore, OPEC, Saudi Arabia, U.S, Tokyo

☆ Senators want faster FAA approval for commercial spaceflights
▼ + stars: | 2023-11-21 | by ( Kristin Fisher | ) edition.cnn.com time to read: +4 min

CNN —The top two lawmakers on the US Senate’s space and science subcommittee are pushing federal regulators to accelerate the approval of commercial space launches, arguing that the current pace could cost the United States its edge in the new space race. ‘Keeping pace with industry demand’The FAA’s Office of Commercial Space Transportation is responsible for protecting public safety while simultaneously greenlighting a growing number of commercial space launches, which have quadrupled in just four years. The FAA has already licensed 104 launches this year, compared to 26 launches in 2019. We cannot be our own worst enemy when it comes to beating China to the moon and Mars,” Schmitt told CNN. The senators are now asking Coleman to respond to several questions, including what additional resources he may need to accelerate the launch licensing process, by November 28.

Persons: Kyrsten Sinema, Eric Schmitt, Kelvin Coleman, ”, “, Coleman, Senators Kyrsten Sinema, Al Drago, Eva Marie Uzcategui, we’re, William Gerstenmaier, Sinema, Schmitt of Missouri, ” Schmitt Organizations: CNN, United, Federal Aviation, FAA, Transportation, Senators, Bloomberg, Getty, Elon, SpaceX, US Fish and Wildlife Service, Regulators, Republican, China Locations: United States, Arizona, China, Beijing

The board of ChatGPT-maker Open AI said Friday it has pushed out its co-founder and CEO Sam Altman after a review found he was “not consistently candid in his communications” with the board. “The board no longer has confidence in his ability to continue leading OpenAI,” the artificial intelligence company said in a statement. Mira Murati, OpenAI’s chief technology officer, will take over as interim CEO effective immediately, the company said, while it searches for a permanent replacement. While not trained as an AI engineer, Altman, now 38, has been seen as a Silicon Valley wunderkind since his early 20s. Forrester analyst Rowan Curran said Altman's departure, “while sudden,” does not likely reflect problems with OpenAI's business.

Persons: Sam Altman, “, Mira Murati, Altman, what’s, He's, Greg Brockman, Ilya Sutskever, Adam D’Angelo, Tasha McCauley, Helen Toner, Mira, ”, Paul Graham, “ Sam, Graham, ” OpenAI, Elon Musk, Musk, Elon ”, Rowan Curran, ” Curran, Haleluya Hadero, Kelvin Chan, Michael Liedtke, David Hamilton Organizations: Associated Press, OpenAI, Economic Cooperation, Georgetown Center for Security, Emerging Technology, Microsoft Locations: openai, London, Asia, San Francisco, New York

Drumnadrochit, Scotland CNN —It’s not the volume of water in Loch Ness that impresses, although that’s substantial. The "surgeon's photographs" of 1934 are the most famous images of the Loch Ness Monster -- although they were later exposed as a hoax. “It’s a really bizarre extended family of Loch Ness enthusiasts,” says McKenna, his love for the project glowing in every word. But, says McKenna, “Loch Ness is so fascinating that it can cause these mirages. Until then, the Loch Ness Exploration group meets monthly on the loch and is free and open to everyone — believers, sceptics and agnostics alike: details are on the public Facebook page.

Persons: Scotland CNN — It’s, ”, Alan McKenna, Jeff J Mitchell, you’ve, you’ll, Loch, it’ll, Hugh Gray, Aldie McKay, Saint Columba, Aleister Crowley’s, Jimmy Page, Adrian Shine, Rasputin, Santa, He’s, McKenna, Steve Feltham, who’s, “, Alistair Matheson, Aldie, We’re, Loch Ness, Russell Cheyne, Matheson, we’ve, Andy Buchanan Organizations: CNN, Scotland CNN, Edinburgh, Getty, Loch, Keystone, “, Reuters, Pacific . Locations: Drumnadrochit, Scotland, Loch Ness, guesthouses, Isle, Skye, Boleskine, Santa Claus, Edinburgh, Loch, ”, Pacific, AFP

REUTERS/Nick Oxford/File Photo Acquire Licensing RightsNov 7 (Reuters) - Oil prices slipped by 1% on Tuesday, erasing most of Monday's gains, as mixed economic data from the world's second largest oil consumer China and winter demand worries offset the impact of Saudi Arabia and Russia extending output cuts. Both benchmarks gained about 30 cents on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Expectations of crude run reductions by China-based refiners between November and December may limit oil demand and exacerbate price declines. Looking ahead on the supply side, markets are waiting to see how long Saudi Arabia and Russia are ready to rein in production. Moscow also announced it would continue its additional voluntary supply cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.

Persons: Nick Oxford, Leon Li, Kelvin Wong, Trixie Yap, Yuka Obayashi, Jamie Freed, Simon Cameron, Moore Organizations: Midland , Texas U.S, REUTERS, Brent, U.S, West Texas, Markets, ING, Thomson Locations: Midland , Texas, China, Saudi Arabia, Russia, Shanghai, OPEC, Moscow, Singapore, Tokyo

☆ Gold slips as yields tick higher, Powell speech in focus
▼ + stars: | 2023-11-06 | by ( ) www.cnbc.com time to read: +2 min

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices slipped on Monday due to a slight uptick in U.S. bond yields, ahead of a speech by Federal Reserve Chair Jerome Powell later this week for more clarity on the interest rate outlook. Spot gold was down 0.4% at $1,983.49 per ounce by 0444 GMT after rising above the key $2,000 level on Friday. "The major factor that will influence gold in the near-term will be the U.S. 10-year Treasury yields ... if you start to see resurgence in yields, gold could break below the key support level around $1,974," said Kelvin Wong, senior market analyst for Asia Pacific at OANDA. Benchmark 10-year Treasury yields rose to 4.5910% after hitting a five-week low on Friday, decreasing appeal for non-yielding bullion.

Persons: Jerome Powell, Kelvin Wong Organizations: Korea Gold Exchange, Federal, Asia Pacific, Traders, Trust, ANZ Locations: Seoul, South Korea, U.S

☆ Tola crushes competition in men's NYC Marathon, Obiri wins women's race
▼ + stars: | 2023-11-05 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

"The people of New York (are) amazing," said Tola, who hoisted his arms aloft as he claimed his first World Marathon Major title after taking third in London earlier this year. Obiri produced an extraordinary final kick in the women's race to outlast Ethiopian Letesenbet Gidey, who crossed the finish line about six seconds behind, as last year's winner, Kenyan Sharon Lokedi, finished third in 2:27:33. Swiss Marcel Hug broke the tape in 1:25:29 in the men’s wheelchair race, picking up a record-extending sixth title in New York, while his compatriot, Catherine Debrunner, won the women's race in 1:39:32. The race capped a blockbuster year for the World Marathon Majors in which both the men’s and women’s world records were obliterated. Kenyan Kelvin Kiptum beat compatriot Eliud Kipchoge's world record mark in Chicago last month, while Ethiopian Tigst Assefa shattered the women's record in Berlin in September.

Persons: Mike Segar, Tola, Obiri, Kenyan Albert Korir, Kitata, Gidey, Sharon Lokedi, Swiss Marcel Hug, Catherine Debrunner, Kenyan Kelvin Kiptum, Eliud, Assefa, Amy Tennery, Andrew Heavens, Christian Radnedge, Toby Davis Organizations: New York, REUTERS, New York City Marathon, Kenyan, triumphing, Ethiopian, Thomson Locations: New York, United States, London, Boston, Swiss, Chicago, Berlin

☆ The Final Push for a Sub-Two Hour Marathon Is Here
▼ + stars: | 2023-11-04 | by ( Laine Higgins | ) www.wsj.com time to read: 1 min

Kelvin Kiptum lowered the men’s marathon world record by a whopping 34 seconds at the Chicago Marathon in early October. It’s the next 36 seconds, however, that loom larger in the sport as it chases a historic milestone: a sub-two hour marathon. The two-hour mark is to the marathon what a four-minute mile was before Roger Bannister broke the barrier in 1954. Both milestones are arbitrary—they possess the allure of a nice round number—yet the pursuit of them has propelled athletes to change their approach to running.

Persons: Kelvin Kiptum, It’s, Roger Bannister Organizations: Chicago Marathon

☆ New York City Marathon: ‘Super shoes’ have ‘blown distance running into a new stratosphere.’ Are they benefitting the sport?
▼ + stars: | 2023-11-03 | by ( George Ramsay | ) edition.cnn.com time to read: +12 min

Michael Reaves/Getty ImagesThe two records in quick succession heightened the debate about how carbon-plated shoes – commonly referred to as “super shoes” – are rapidly changing the distance-running landscape. Today, they are worn by virtually all elite marathon runners, both for racing and for training, and by many casual runners, too. Tobias Schwartz/AFP/Getty ImagesThompson has other reservations about super shoes. “A lot of people say, well, people recover faster from training in the super shoes and therefore they can do more training, better training,” he added. “What I believe I’m seeing is that those who train all the time in super shoes will reduce their body’s ability to optimize biokinetic energy production.

Persons: Assefa, Bjørn Gulden, Kelvin Kiptum, Eliud Kipchoge, Michael Reaves, Peter Thompson, what’s, ” Thompson, … who’s, who’s, Thompson, hadn’t, I’ve, ”, Luciano Lima, “, ” Thomas Allen, Tobias Schwarz, Sifan Hassan, Chicago –, haven’t, ” Tim Hutchings, ” Hutchings, they’re, it’s, It’s, Jaroslav Svoboda, Hutchings, “ We’re, Eliud, Tobias Schwartz, “ I’m Organizations: CNN, Berlin Marathon, Adidas –, Chicago Marathon, Nike, Reebok, Adidas, Getty, Berlin, Runners, Manchester Metropolitan University, World Athletics, York City Marathon, Puma, Athletics Locations: Berlin, Chicago, Great Britain, Prague, York

☆ Kenyan Runners Set the World’s Pace, Chased by a Doping Crisis
▼ + stars: | 2023-11-02 | by ( Jeré Longman | More About Jeré Longman | ) www.nytimes.com time to read: +1 min

When Kelvin Kiptum, of Kenya, broke the world marathon record in early October, he threatened a landmark barrier of human possibility: running 26.2 miles in less than two hours in a competitive race. Kiptum’s time of 2 hours 35 seconds at the Chicago Marathon brought him tantalizingly close to the milestone, a feat achieved once — by a fellow Kenyan in a 2019 exhibition — but only by using pacing and hydration tactics that rendered the performance ineligible for a record. Yet because Kiptum’s triumph came as Kenyan athletics is struggling with an alarming doping crisis, the 23-year-old record-holder — who has not been accused of doping — found himself discussing not only what he had done in Chicago, but what he had not. The record time, Kiptum told reporters when he returned to Kenya, was the product of running 150 miles or more per week at altitude, not the use of banned substances. “My secret is training,” he said.

Persons: Kelvin Kiptum, tantalizingly, —, Kiptum, ”, “ Organizations: Chicago Marathon, Kenyan, New York City Marathon Locations: Kenya, Kenyan, Chicago, East

NAIROBI, Kenya (AP) — King Charles III has expressed “greatest sorrow and the deepest regret” for the “abhorrent and unjustifiable acts of violence” committed against Kenyans as they sought independence, during a speech on his first day of a four-day visit. The king and Queen Camilla touched down in the capital, Nairobi, late Monday. Another group of protesters briefly chanted anti-British songs and threw roses at the foot of a monument to Mau Mau veteran Dedan Kimathi in Nairobi's central business district on Tuesday. “Just because the king is in Kenya, police have denied us our constitutional right to protest peacefully,” Juliet Wanjira, one of the organizers, said. During his visit, Britain announced 4.5 million pounds ($5.5 million) in new funding to support education reforms in Kenya.

Persons: — King Charles III, ”, explicity, Charles, William Ruto, Ruto, ” Ruto, Buckingham, Kenya's, that's, Charles ’, Queen Elizabeth II, Queen Camilla, Koigi Wamwere, ” Salim David Nganga, Joel Kimutai Kimetto, “, Kelvin Kubai, Dedan Kimathi, ” Juliet Wanjira, Wanjira Mathai, Wangari Maathai, Prince Philip Organizations: Kenyans, Kenyan, AP, British, Britain, Commonwealth, Aberdare National Locations: NAIROBI, Kenya, Britain, Commonwealth, East, Nairobi, Mau Mau, Nairobi's, Africa, South Africa

☆ Is your hotel sustainable? Not if these two things are in your room, says Soneva’s founder
▼ + stars: | 2023-10-30 | by ( Monica Pitrelli | Harriet Akinyi | ) www.cnbc.com time to read: +5 min

A quick-and-easy test is to look for two items, said Sonu Shivdasani, founder of Soneva and Six Senses hotel brands. First, sustainable hotels should not have branded water of any sort, he told CNBC Travel. "Governments can create the context, but businesses need to make the change," Shivdasani told CNBC Travel. Source: SonevaShivdasani said he decided to institute a guest environmental levy after the company measured its "scope 3" emissions. Shivdasani said that after Soneva determined that 85% of its carbon emissions were "scope 3" emissions, the company introduced the 2% carbon levy.

Persons: Sonu Shivdasani, Soneva, Shivdasani, that's, It's, it's, Eva, Soneva Shivdasani, Kelvin Law Organizations: CNBC Travel, Nanyang Technological University, CNA, Soneva, World Health Organization Locations: Maldives, Thailand, British, India, Myanmar, Darfur, Sudan

☆ As Singapore's aging population grows, businesses are courting older consumers
▼ + stars: | 2023-10-30 | by ( Audrey Wan | ) www.cnbc.com time to read: +7 min

Citizens aged 65 and above make up almost a fifth of Singapore's population in 2023. Nicky Loh | Bloomberg | Getty ImagesSINGAPORE — Singapore's population is aging fast. As the median population age increases, so do opportunities for Singapore businesses providing products and services for seniors. According to Aging Asia's Silver Economy Index 2020, Singapore shows the largest market potential for an aging population among 15 Asia-Pacific countries. Citibank estimates that consumers will likely spend more to treat and support the elderly, driving growth potential for health care and health services.

Persons: Nicky Loh, Kelvin Tan, Janice Chia, Tan, boomers, Vanessa Keng, Keng, —, Ng Li Lian, Ng Organizations: Bloomberg, Getty, SINGAPORE, Citizens, Asia's, Aging, Singapore University of Social Sciences, gerontology, Citibank, Kelvin Tan Singapore University of Social Sciences, Research, Singapore's Ministry of Health Locations: Singapore, Asia, Pacific, Aging Asia, SUSS

SINGAPORE, Oct 27 (Reuters) - Oil prices rose by over $1 on Friday as reports that the U.S military struck Iranian targets in Syria raised concerns of a widening of the Israel-Hamas conflict that could impact supply from the key Middle East producing region. Though the strike did not directly impact supply, it increases fears that the conflict in the Gaza Strip between Israel, backed by the U.S., and Hamas may spread and disrupt supply from major crude producer Iran, which backs Hamas. A wider war could also impact shipments from Saudi Arabia, the world's largest oil exporter, and other large producers in the Gulf. Both Brent and WTI are on track to post their first weekly drop in three weeks as the geopolitical premium built on these fears has ebbed as there has been no disruption of oil supply outside of the immediate region of the fighting. Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world.

Persons: Brent, WTI, Kelvin Yew, Benjamin Netanyahu, Helima Croft, Goldman Sachs, Florence Tan, Sam Holmes, Christian Organizations: U.S, Brent, U.S . West Texas Intermediate, Islamic Revolutionary Guard Corps, Pentagon, Ocean, Investments, RBC Capital, Thomson Locations: SINGAPORE, Syria, Israel, U.S, Iraq, Gaza, Iran, Saudi Arabia, United States, Hormuz, Russia

☆ Oil set for first weekly drop in three as Mideast situation holds
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: +2 min

In an aerial view, oil storage tanks are shown at the Enterprise Sealy Station on August 28, 2023 in Sealy, Texas. Oil prices rose on Friday, regaining ground after tumbling more than $2 a barrel in the previous session as concerns of a wider Middle East conflict eased while the United States, the world's biggest oil consumer, showed signs of weakening demand. Both contracts are on track to post their first weekly drop in three weeks as the geopolitical premium built on fears that the Israel-Gaza conflict could involve more countries in the Middle East and disrupt oil supply has eased. Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world. Prices could jump 20% in the less likely scenario of an interruption of trade through the Strait of Hormuz where 17% of global oil production transit, they said in a note.

Persons: Kelvin Yew, Benjamin Netanyahu, Helima Croft, Goldman Sachs, Brent Organizations: Enterprise, Brent, West Texas, Ocean, Investments, RBC Capital Locations: Sealy , Texas, United States, Israel, Gaza, Hormuz, Saudi Arabia, Russia

☆ How Nike Fell Behind in the Innovation Race
▼ + stars: | 2023-10-21 | by ( Inti Pacheco | ) www.wsj.com time to read: 1 min

Nike said sales of footwear in North America—its largest market—fell 2% in the latest quarter. Photo: Benjamin Girette/Bloomberg NewsNike made a swift comeback earlier this month in the super-shoe fight when marathon runner Kelvin Kiptum set a world record while wearing a new iteration of the company’s Alphafly 3. But the sneaker maker is losing steam in other races. Competitors such as Hoka and On are gaining a foothold among runners and with people who are looking for something comfortable to wear to work or school. Adidas and New Balance are also making headway in the market for streetwear by bringing back old models in dozens of colorways, moves similar to those from Nike’s own playbook.

Persons: Benjamin Girette, Kelvin Kiptum Organizations: Nike, Bloomberg News Nike, Adidas, streetwear Locations: North America

☆ Gold jumps on safe-haven demand after Gaza hospital strike
▼ + stars: | 2023-10-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose to a one-month high on Wednesday, after a deadly blast in Gaza fueled fears about the regional conflict escalating and kept the safe-haven asset a favored choice against war risks. Spot gold rose 0.8% to $1,938.19 per ounce by 0501 GMT, after scaling its highest since Sept. 20 earlier in the session. "Safe-haven flows amid geopolitical tensions in the Middle East have remained the dominant catalyst for gold prices," IG market strategist Yeap Jun Rong said. Gold prices have surged about $100 since the conflict began, despite recent robust U.S. economic data boosting bets of higher-for-longer interest rates, which tends to weigh on non-yielding gold. Investors now await Federal Reserve Chair Jerome Powell's speech on Thursday for cues on interest rates.

Persons: Kelvin Wong, Yeap Jun Rong, Jerome Powell's, OCBC, Bullion Organizations: Asia Pacific, West Bank, Investors, Federal Locations: Gaza, OANDA, Gaza City

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. US West Texas Intermediate (WTI) crude gained $1.98, or 2.39%, to $84.89 a barrel. "(A) geopolitical risk premium still lingers around the corner that is likely to support oil prices in the short-term," said Kelvin Wong, senior markets analyst at OANDA in Singapore. Russia is the world's second-largest oil producer and a major exporter and the tighter U.S. scrutiny of its shipments could curtail supply. Oil prices also shrugged off data released on Friday showing a month-on-month decline in Chinese crude imports.

Persons: Brent, WTI, Kelvin Wong, Wong, Daniel Hynes, Hynes, Paul Carsten, Katya Golubkova, Andrew Hayley, Christian Schmollinger, Deborah Kyvrikosaios Organizations: REUTERS, U.S, US West Texas, Hamas, OANDA, Organization of, Petroleum, ANZ, OPEC, Thomson Locations: Cushing , Oklahoma, U.S, Brent, Israel, Singapore, East, Russia, Moscow, Ukraine, China, London, Tokyo, Beijing

☆ Gold steady as Fed officials adopt dovish policy tone
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held near a more than one-week high on Wednesday as the dollar edged lower after several U.S. Federal Reserve officials suggested that the recent surge in Treasury yields might make further rate hikes less necessary. Spot gold was trading at $1,859.43 per ounce as of 0529 GMT after hitting its highest level since Sept. 29 on Tuesday. The dollar dipped to nearly a two-week trough against a basket of currencies, tracking a slide in U.S. Treasury yields that have retreated from their 2007 highs scaled last week. Higher rates raise the opportunity cost of holding gold, which is priced in dollars and does not yield any interest. Elsewhere, spot silver rose 0.2% to $21.85 per ounce, platinum gained 0.6% to $885.93 and palladium added 0.5% at $1,175.13.

Persons: Kelvin Wong, Neel Kashkari, Raphael Bostic, Wong Organizations: . Federal Reserve, Treasury, Asia Pacific, OANDA . Minneapolis, Atlanta Fed, CPI Locations: Moscow, Russia, ., U.S, OANDA

But the Israel-Hamas war has underscored how the platform now transformed into X has become not only unreliable but is actively promoting falsehoods. “People are desperate for information and social media context may actively interfere with people’s ability to distinguish fact from fiction,” said Gordon Pennycook, an associate professor of psychology at Cornell University who studies misinformation. But unlike X, TikTok has never been known as the No. Meanwhile, in Europe, major social media platforms are facing stricter scrutiny over the war. “Our policy is that everything is open source and transparent, an approach that I know the EU supports,” Musk wrote on X.

Persons: Ian Bremmer, “, algorithmically, ”, Gordon Pennycook, TikTok, Kolina Koltai, Koltai, we’ve, Joe Biden, Vladimir Putin, Pennycook, Michelle Donelan, Thierry Breton, Musk, ” Musk, ” Breton, ___ Kelvin Chan Organizations: Twitter, Elon, YouTube, Facebook, Cornell University, Media, Press, Israel, Reuters, Britain’s, Google, Digital Services, EU Locations: Israel, Europe, London

“This legislation will help tackle the risks of social media affecting our children and protect their privacy.”The regulations sought by James and Gov. The legislation in New York also follows actions taken by other U.S. states this year to curb social media use among children. In March, Utah became the first state to pass laws that require minors to get parental consent before using social media. The U.S. Supreme Court is preparing to decide whether state attempts to regulate social media platforms violate the Constitution. The justices will review two laws from Florida and Texas that mostly aim to prevent social platforms from censoring users based on their viewpoints.

Persons: Letitia James, “, ” James, Kathy Hochul, Kathleen Spence, Spence, ” Spence, Antigone Davis, Meta’s, ”, Carl Szabo, NetChoice, James, TikTok, . Indiana, Maysoon Khan, Kelvin Chan Organizations: YouTube, James, New York Child Data, ”, European Union, Digital Services, General Data, EU, Regulators, The, Meta, TikTok, U.S, Supreme, Associated Press Locations: York, “ Young, Europe, California, New York, Utah, Arkansas, ., Florida, Texas, Albany, London

☆ Events in the Middle East won't have a 'major negative impact' on global markets, UBS says
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvents in the Middle East won't have a 'major negative impact' on global markets, UBS saysKelvin Tay, regional chief investment officer of UBS Global Wealth Management, says the Russia-Ukraine war was "much bigger" for global markets, but they "are a lot higher than where they were prior to the outbreak of the conflict."

Persons: Kelvin Tay Organizations: UBS, UBS Global Wealth Management Locations: Russia, Ukraine

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