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A jump in the number of people working part-time for economic reasons also suggested a weaker labor market, but the pace of job growth remains strong and with inflation still double the Fed's target rate, a rate hike this month is likely. "The Fed is being hawkish and that prevents the dollar from depreciating too much. After the jobs data, futures pointed to an 88.8% probability that the Fed hikes in three weeks. Adding a tailwind to the rally in the yen was some position-squaring among speculators, who have built up sizeable bearish positions, Hardman said. The Australian dollar rose 0.8% to $0.6681, but it is still battered by weak Chinese economic data and broad risk aversion.

Persons: Joe Manimbo, We're, Thierry Wizman, They've, Lee Hardman, Hardman, YEN, Herbert Lash, Amanda Cooper, Rae Wee, Sam Holmes, Mark Potter, Barbara Lewis, Marguerita Choy Organizations: Federal Reserves, Labor Department, Treasury, ECB, Strong U.S, Bank of Japan, Thomson Locations: U.S, Japan, New York, London, Singapore

☆ ESPN's layoffs underscore its desperate need for a post-cable lifeline, but analysts are split on Disney's streaming plan that puts $20 billion of revenue at risk
▼ + stars: | 2023-07-07 | by ( James Faris | ) www.businessinsider.com time to read: +13 min

But that plan carries serious risk, as it would jeopardize still-sizable cable revenue without guaranteeing that enough sports fans would support such a product. Several other analysts — including Barton Crockett of Rosenblatt Securities, who has a buy rating for Disney shares — seconded those concerns about cannibalizing cable revenue. Nollen estimated 35 million current cable customers would switch to ESPN DTC. ESPN DTC is zero incremental cost and potentially billions in incremental revenue." An ESPN streamer (in light purple) would gradually drive revenue for Disney, Wells Fargo predicts.

Persons: Disney, that's, Jalen Rose, Todd McShay, Bob Iger, Macquarie's Tim Nollen, Nollen, Barton Crockett, —, Crockett, who'd, Will, you've, they'll, William Cohan, Cohan, Joe Bonner, Bonner, Brandon Nispel, Iger, Nispel, We've, Jason Bazinet, Bazinet, Hulu —, Wells Fargo's Steven Cahall, Cahall, Wells Organizations: ESPN, Disney, Bank of America, NBA, Sports, ESPN Disney's ESPN, Rosenblatt Securities, ESPN DTC, Will Disney, Citigroup, NFL, NBC, Apple, Comcast, NBC Sports, Netflix Netflix, Hearst, Argus Research, Netflix, KeyBanc, Hulu, DIS, Wells Fargo Sports Locations: Wells Fargo, it's, Wells, Hulu, Puck

☆ Iberdrola, Masdar to develop $1.5 billion Baltic wind farm, Expansion reports
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

MADRID, July 5 (Reuters) - Spanish utility Iberdrola (IBE.MC) has signed an exclusive deal with Abu Dhabi's Masdar to develop a 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea, Expansion newspaper reported on Wednesday, citing unidentified market sources. The Baltic Eagle wind farm being built off Germany's northeastern coast will have 50 wind turbines and is part of Iberdrola's strategy to sell advanced renewable projects to raise cash to help finance its 47 billion euro investment plan. Masdar, a renewable energy company owned by the United Arab Emirates' sovereign wealth fund Mubadala, could buy a stake of up to 49% in the project, Expansion said. The newspaper had previously reported that the top candidates jostling for the stake were Masdar, Swiss fund EIP and Australian asset manager Macquarie's green investment arm GIG. This would be the third agreement this year between Iberdrola and a large sovereign wealth fund, having previously agreed deals with Norway's Norges Bank Investment Management (NBIM) and Singapore's GIC.

Persons: Abu Dhabi's Masdar, Iberdrola, GIC, David Latona, David Goodman Organizations: United Arab Emirates, Baltic Eagle, Norway's Norges Bank Investment Management, Thomson Locations: MADRID, Baltic, Iberdrola

MILAN, June 9 (Reuters) - Telecom Italia (TIM) (TLIT.MI) said on Friday it received two new offers for its landline grid as Italy's biggest telecoms group seeks to resolve the impasse over the sale of its main asset. U.S. fund KKR (KKR.N) and a rival consortium comprising state lender CDP and Australian fund Macquarie (MQG.AX) separately submitted bids for Telecom Italia's network, according to a statement. Debt-crippled TIM had sought improved offers for its most valuable asset after having assessed as not yet adequate the proposals received in May. The antitrust problems are linked to CDP and Macquarie's owning fibre optic wholesale provider Open Fiber. Treasury-owned CDP is the second-largest investor in TIM after France's Vivendi (VIV.PA) with a 10% stake.

Persons: Pietro Labriola's, Akriti Sharma, Elvira Pollina, Marguerita Choy, Leslie Adler Organizations: MILAN, Telecom Italia, KKR, Macquarie, Telecom Italia's, TIM, Treasury, France's Vivendi, Thomson Locations: Bengaluru, Milan

☆ Is China heading for Japan-like stagnation? Economist says the worst is likely behind us
▼ + stars: | 2023-06-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Jade Gao | Afp | Getty ImagesBEIJING — China's economic recovery from the pandemic is set to broaden, meaning the country isn't headed toward Japan-style stagnation just yet, according to Macquarie's Chief China Economist Larry Hu. The meeting, led by Premier Li Qiang, noted the foundation of China's economic recovery is not yet solid. Similar, but not the same as, Japan"While the worst is behind us, the recovery is far from being self-sustaining," Macquarie's Hu said. Stock Chart Icon Stock chart icon iShares MSCI China ETF"The absence of a self-sustained recovery in China today is mainly a cyclical, not structural, phenomenon," Hu said. The iShares MSCI China ETF is down by about 4% so far this year.

Persons: Jade Gao, Larry Hu, Hu, Macquarie, China's, Premier Li Qiang, Macquarie's Hu, Japan's Organizations: Afp, Getty, BEIJING, China, State Council, Premier, Companies Locations: Beijing, Japan, China

☆ ESPN is a huge issue for Disney as it reconciles ad revenue pullback , says Macquarie's Tim Nollen
▼ + stars: | 2023-05-19 | 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 EmailESPN is a huge issue for Disney as it reconciles ad revenue pullback , says Macquarie's Tim NollenTim Nollen of Macquarie, along with CNBC's Brian Schwartz and Julia Boorstin join 'The Exchange' to discuss why shares of Disney are trending lower today, Disney's action to buy more shares of Hulu, and Disney's battle with Florida Governor Ron DeSantis.

☆ Macquarie commodities and markets boss earns $39 million, trumping CEO
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, May 5 (Reuters) - Macquarie Group's (MQG.AX) commodities and global markets (CGM) division head earned about A$57.6 million ($39 million) for the year ending March 31, topping the CEO's A$32.8 million compensation, according to the Australian bank's annual report. Nick O'Kane's 59% pay bump - he earned A$36.2 million in the last financial year - came after CGM contributed 57% of the Sydney-based firm's net profit, more than double the second-best asset management division. Macquarie posted another record annual profit on Friday, primarily driven by a strong performance from the CGM division, as more customers hedged against volatile energy markets. "Inventory management and trading increased substantially, driven by trading income from regional supply and demand imbalances primarily in North American gas and power markets." ($1 = 1.4901 Australian dollars)Reporting by Praveen Menon; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Macquarie sees higher income from commodities arm, logs record profit
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Australia's Macquarie Group (MQG.AX) on Friday forecast higher short-term income from its lucrative commodities trading business as price volatility and increased hedging boosted the company's annual profit to a record high. The Sydney-based firm's Commodities and Global Markets segment posted a net profit of about A$6 billion ($4.02 billion), 54% higher than last year, as more customers hedged against volatile energy markets. In the short term, the company expects consistent contributions from client and trading activity in the financial markets platform. It also bumped up its final dividend to A$4.50 per share from A$3.50 per share a year earlier. ($1 = 1.4932 Australian dollars)Reporting by Roushni Nair and Rishav Chatterjee in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

[1/2] Hywind Tampen floating wind farm structures are being assembled at the Wergeland Base in Gulen, Norway, June 7, 2022. But by 2035, the LCOE for floating wind is expected to fall to about 60 euros/MWh. It plans to set a specific target for floating wind this year. Britain aims to have 5 GW of floating wind installed by 2030 but a report by the UK Floating Wind Offshore Wind Taskforce, said 34 GW could be installed by 2040 if ports were upgraded. "South Korea will be commercial the quickest," said Cole at Corio Generation, which has 1.5 GW of floating wind under development there.

☆ Netflix's paid sharing plan will kickstart the advertising tier: Macquarie's Tim Nollen
▼ + stars: | 2023-04-19 | 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 EmailNetflix's paid sharing plan will kickstart the advertising tier: Macquarie's Tim NollenTim Nollen, Macquarie Group senior media analyst, and CNBC's Julia Boorstin join 'Power Lunch' to discuss Netflix's advertising business, how the password crackdown would work, and how much money is to be made.

☆ Analysis: Rate rises pile pain on SME firms in U.S. and Europe
▼ + stars: | 2023-03-30 | by ( Chiara Elisei | ) www.reuters.com time to read: +6 min

Summary SME vulnerability to rate hikes gone under radarUS, European credit conditions tighteningUK SMEs especially vulnerable -analystsLONDON, March 30 (Reuters) - U.S. and European small and medium-sized (SME) firms may be next to feel the pain of rapid interest rate rises, with analysts and investors warily watching for the impact of tighter credit conditions exacerbated by recent banking turmoil. In the U.S. the average rate that small businesses pay on bank loans rose from around 5% to 7.6% in 2022, and is likely to hit about 9.5% by mid-year, Jefferies analysts estimate. British SMEs, hurt by weak growth, double digit inflation and rising Bank of England rates, are seen as particularly vulnerable. "The Government needs to demonstrate that it is on the side of small businesses who are feeling stressed and under huge margin pressure," McTague added. HARD TIMESMeanwhile the rate of small business loan approval at big U.S. banks meanwhile fell in February for nine straight months and business loan approvals at small banks has also fallen, said online financing platform for small businesses Biz2Credit.

☆ Dollar towers on lingering effects of Powell's testimony
▼ + stars: | 2023-03-09 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

In the second day of his testimony to Congress on Wednesday, Powell reaffirmed his hawkish message, though struck a cautious note that debate on the scale and path of future rate hikes was still underway and would be data-dependent. As a result, the U.S. dollar index , which measures the greenback against a basket of six peers, slipped 0.02% to 105.61. Conversely, the Bank of Canada on Wednesday left its key overnight interest rate on hold at 4.50%, becoming the first major central bank to suspend its monetary tightening campaign. The Canadian dollar stood at 1.3808 per U.S. dollar on Thursday, after having weakened to a more than four-month low in the previous session following the decision. Elsewhere, the kiwi rose 0.03% to $0.6107, having slumped to a near four-month low in the previous session.

☆ Salesforce honed in on optimizing sales and marketing spending, says Macquarie's Sarah Hindlian-Bowler
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSalesforce honed in on optimizing sales and marketing spending, says Macquarie's Sarah Hindlian-BowlerSarah Hindlian-Bowler, head of technology research Americas for Macquarie Capital, joins 'Squawk Box' to discuss Salesforce's buyback activity, the expanding Salesforce board room, and opportunities for stock price appreciation.

☆ Dollar advances, Aussie slides as Australia economy slows
▼ + stars: | 2023-03-01 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Australia's economy grew at the weakest pace in a year last quarter while the country's monthly consumer prices rose less than expected in January, separate data showed on Wednesday. The Aussie slumped in the aftermath of the data to a two-month trough, and was last 0.47% lower at $0.6697. "We see the Fed going to 5.5%, with a growing risk of 6%," said Michael Every, global strategist at Rabobank. Elsewhere, the dollar rose 0.12% against the Japanese yen to 136.38, after having spiked close to 5% against the yen in February, its largest monthly gain since last June. The kiwi fell 0.28% to $0.6167, while the Chinese offshore yuan slipped marginally to 6.9603 per dollar.

[1/7] Farmer Wang Zhanling sits next to his wife in their house in Quansheng village, Heilongjiang Province, China, February 8, 2023. The state-run Chinese Academy of Sciences sees the pension system running out of money by 2035. "If the pension system does not change, this is unsustainable," said Xiujian Peng, senior research fellow in the Centre of Policy Studies at Victoria University in Australia. The province has the lowest birth rate in China, with just over 100,000 births in 2021 and 460,000 deaths. Many experts, including Macquarie's chief China economist Larry Hu, suggest implementing a unified national pension system, backstopped by the more resourceful central government rather than cash-strapped local administrations.

☆ Disney needs to show investors it has a plan to make streaming profitable — and stop hemorrhaging money
▼ + stars: | 2023-02-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

Disney's direct-to-consumer unit, which includes streaming platforms Disney+, Hulu and ESPN+, has yet to reach profitability — losing nearly $1.5 billion last quarter. Those loses spurred Disney's board to push out then-CEO Bob Chapek and bring Iger back to the top job. In 2021 Disney spent $25 billion to produce original content, and the following year expanded its budget to $33 billion. Similarly, Macquarie's Nollen said Disney's advertising-based subscription tier for Disney+ is "a lever Disney can pull to raise revenue." "Lots of angry people ask me why I support Nelson Peltz for the Disney board, and I give a simple answer: What has this board done for its shareholders other than wipe out more shareholder money?"

☆ Software is 'one of the best houses on the block,' says Macquarie's Sarah Hindlian-Bowler
▼ + stars: | 2023-02-06 | 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 EmailSoftware is 'one of the best houses on the block,' says Macquarie's Sarah Hindlian-BowlerSarah Hindlian-Bowler, Macquarie's head of technology research, joins 'TechCheck' to break down the tech sector and its cloudy outlook.

☆ Watch CNBC's full interview with Macquarie's Sarah Hindlian-Bowler
▼ + stars: | 2023-02-06 | 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 EmailWatch CNBC's full interview with Macquarie's Sarah Hindlian-BowlerSarah Hindlian-Bowler, Macquarie's head of technology research joins 'TechCheck' to break down tech and its cloudy outlook.

☆ Dollar climbs against yen as BOJ affirms ultra-easy policy
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: +2 min

Speculators are betting that the BOJ, the last major central bank to still employ loose monetary policy, is edging towards a shift to a tighter stance. That has driven a rally in the yen that has pushed the dollar/yen pair down by 14% in the past three months. So between now and the next meeting, there is no policy shift and that is indicated by Kuroda," he added. The dollar rose as high as 130.60 yen and was last up 0.9% at 129.58. On the week, the dollar rose 1.3% versus the Japanese currency.

☆ How to play the gaming industry, with Macquarie's Chad Beynon
▼ + stars: | 2023-01-18 | 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 EmailHow to play the gaming industry, with Macquarie's Chad BeynonChad Beynon, senior analyst at Macquarie, joins 'Power Lunch' to discuss technological developments driving online sports betting, the impact digital betting could have on Vegas' casino landscape and skepticism about the return on investment from Macau's gaming sector.

☆ Here's how investors should position themselves for success in 2023 as the US follows Europe into a recession, according to financial giant Macquarie
▼ + stars: | 2022-12-01 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Its top experts explained what's worth buying in stocks, fixed income, and alternative assets. Globalization was an aid to economic growth over the last few decades, but it's fading, or even reversing. Meanwhile productivity growth is weakening, and the aging populations of many countries means there are fewer workers, which makes growth harder to achieve and sustain. Global Fixed Income Strategist Graham McDevitt says that bond yields are peaking and prices are attractive in a lot of fixed income sectors, but overall fixed income pricing "is much more aligned with a soft landing" than the recession Macquarie's experts expect. Lastly, in real assets, McCormack says he's bullish on infrastructure and agriculture assets, and positive on real estate to a lesser extent.

☆ Falling house prices will help the Fed tame inflation – but they also increase the risk of a prolonged economic downturn
▼ + stars: | 2022-11-26 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

But a housing market slowdown also increases the risk of a recession. The aggressive monetary tightening lifted the average 30-year US mortgage rate from 5.60% to 6.84% over the last three months, according to Bankrate. "A decline in home buying is one of the byproducts of tighter monetary policy," Macquarie's head of economics David Doyle told Insider. What has the Fed said about the housing market? Should borrowing costs remain too high for too long, those industries risk facing a decline in business at a time when monetary tightening is already squeezing their cash flows.

☆ China may have 'passed the point of no return' as Covid infections soar
▼ + stars: | 2022-11-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — Surging Covid infections across mainland China make it harder for the government to achieve zero-Covid without reverting to a harsh lockdown, Macquarie's Chief China Economist Larry Hu said. Larry Hu Chief China economist, Macquarie“China might have already passed the point of no return, as it's unlikely to achieve zero Covid again without another Shanghai-style hard lockdown," Hu said in a report Tuesday. flatten the curve, by tightening the Covid controls for the time being." He said Vietnam's unwinding of its Covid restrictions since fall last year could shed light on the path forward for China. Covid controls tighten in Beijing

☆ Real estate investors are pulling back from the housing market with home buying down 30%, report says
▼ + stars: | 2022-11-23 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Investor home buying has fallen 30% in a year, according to the Wall Street Journal. Institutional investors piled into America's housing market after the pandemic. But high prices and rising interest rates have started to alienate potential buyers. Those declines come after a two-year period that saw investors pile into the US housing market, taking advantage of a rise in demand for properties in the suburbs. Read more: The housing market is in free fall with 'no floor in sight,' and prices could crash 20% in the next year, analyst says

☆ Netflix's ad tier will bring incremental revenue next year, says Macquarie's Tim Nollen
▼ + stars: | 2022-10-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix's ad tier will bring incremental revenue next year, says Macquarie's Tim NollenTim Nollen, Macquarie, joins 'Closing Bell' to discuss Netflix earnings and where he sees the company headed from here.

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