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☆ Stocks stall, yields climb on "higher for longer" rate worries
▼ + stars: | 2023-09-22 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

U.S. stock futures , , were slightly firmer ahead of the opening bell on Wall Street, signalling a pause after sharp losses on Thursday amid uncertainty over interest rates going into 2024. Benchmark 10-year U.S. Treasury yields hit a 16-year high of 4.508%, later trading at 4.48%, while 30-year yields hit their highest in a dozen years. The Fed revised downwards its unemployment rate forecast for next year, and if the U.S. economic data continued to improve, it would put "upside risk" on interest rates, making the need for a soft landing all the greater, Osman added. Ten-year Japanese government bond futures rallied though cash yields were little changed and near decade highs at 0.745%. Gold firmed 0.3% to $1,925 an ounce despite pressure from the stronger dollar and bond yields.

Persons: what's, Eren Osman, Arbuthnot Latham, Osman, Mary Daly, Neel Kashkari, Susan Collins, Lisa Cook, Craig Ebert, Huw Jones, Tom Westbrook, Edmund Klamann, Kim Coghill, Rashmi Organizations: Bank of Japan, Global, Nasdaq, Treasury, ING, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: Europe, U.S, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

☆ Syrians feel growing pressure from Turkey's anti-migrant political wave
▼ + stars: | 2023-09-22 | by ( Burcu Karakas | ) www.reuters.com time to read: +4 min

[1/4] Adem Maarastawi, a 29-year-old Syrian activist, poses after an interview with Reuters in Istanbul, Turkey September 12, 2023. Hardship caused by Turkey's rampant inflation and anti-migrant rhetoric motivated his decision. DEADLINE TO MOVEAdem Maarastawi, a 29 year-old Syrian activist working in Istanbul, is registered in central Turkey's Kirsehir province. "Anti-migrant rhetoric is likely to rise before the March elections," said Deniz Sert, associate professor of international relations at Ozyegin University. Local government expert Ali Mert Tascier said opposition parties are likely to use anti-migrant rhetoric, with municipalities being the main players in managing migrants.

Persons: Adem Maarastawi, Dilara, scapegoated, Deniz Sert, Ali Mert Tascier, Tayyip Erdogan, Erdogan, Osman Nuri Kabaktepe, Maarastawi, Burcu Karakas, Daren Butler, William Maclean Organizations: Reuters, REUTERS, Authorities, Ozyegin University . Local, Erdogan's AK Party, Thomson Locations: Istanbul, Turkey, Istanbul ISTANBUL, Syria, Europe, Turkish, Belgium, Sanliurfa, Turkey's Kirsehir

☆ Lazio goalkeeper Ivan Provedel scores last-minute goal to earn Champions League draw
▼ + stars: | 2023-09-20 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Lazio goalkeeper Ivan Provedel produced the unthinkable on Tuesday after scoring his team’s 95th-minute equalizer against Atlético Madrid in the Champions League. The 29-year-old is the fourth goalkeeper to score in the Champions League and the first since Vincent Enyeama netted for Hapoel Tel Aviv in the 2010 qualifying rounds. “It’s a night I’ll remember all my life,” Provedel told UEFA after the game finished 1-1. It hasn’t sunk in; later, I will realize that I scored in the Champions League. I hope the point gives us momentum as motivation and enthusiasm.”Provedel became just the fourth goalkeeper to score in the Champions League.

Persons: Ivan Provedel, Pablo Barrios ’, Provedel, Luis Alberto, Vincent Enyeama, “, ” Provedel, Maurizio Sarri, ” Sarri, Sari, Osman Bukari, Julián Álvarez, Rodri Organizations: CNN — Lazio, Atlético Madrid, Champions League, Stadio Olimpico, Lazio, Hapoel Tel, UEFA, “, Getty, Sky Sport Italia, E, Feyenoord, Celtic, Atlético, Manchester City, Red Star Belgrade, English Premier League Locations: Hapoel Tel Aviv, Atlético Madrid

Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. YieldStreet, a New York investment firm that offers alternative assets to investors, failed to disclose a heightened risk related to the collateral behind one of its securities offerings, the SEC said in a statement. In September 2019, YieldStreet offered securities to finance a loan it made to companies to transport and deconstruct a retired ship. It did not tell investors of a heightened risk that they would not be able to seize the ship if the borrowers stole the funds and defaulted, as they ultimately did. Reporting by Chris Prentice; editing by Jonathan Oatis and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, YieldStreet, Osman Nawaz, Chris Prentice, Jonathan Oatis, Paul Simao Organizations: U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, Yieldstreet Inc, U.S, Securities, YieldStreet, Thomson Locations: Washington ,, New York

The surprise move leaves the policy rate at its highest level since 2019, and sent the Turkish currency to its strongest level since mid-July. The bank has raised its one-week repo rate (TRINT=ECI) by 1,650 basis points since June. The lira had touched new all-time lows almost daily in recent weeks, including in the minutes before the policy decision. The central bank said that rising oil prices and a deterioration in inflation expectations suggests that inflation will end the year at the upper bound of its forecasts. The central bank has also selectively tightened credit.

Persons: Tayyip Erdogan, Piotr Matys, Dado Ruvic, Erdogan, Hafize Gaye Erkan, Osman Cevdet Akcay, Fatih Karahan, Hatice, Ezgi Erkoyun, Christina Fincher, Angus MacSwan Organizations: Analysts, Istanbul bourse, Touch, Turkey Lira, REUTERS, Wall Street, Thomson Locations: ISTANBUL, Istanbul, Ankara

☆ Turkey shocks with big rate hike to 25% to cool raging inflation
▼ + stars: | 2023-08-24 | by ( ) edition.cnn.com time to read: +2 min

Turkey’s central bank hiked its key interest rate by a surprisingly large 7.5 percentage points to 25% Thursday, signaling a new determination to address rebounding inflation as part of a broader policy U-turn. The poll, conducted last week, showed that interest rates were not expected to rise to 25% until the end of the year. The rate hike “sends a very strong signal that the [bank] is determined to rein in inflation and the initial market response is very positive,” said Piotr Matys, senior FX analyst at In Touch Capital Markets. Erdogan’s past drive to slash interest rates sparked a currency crisis in late 2021 and sent inflation above 85% last year. The currency is down about 68% in two years largely due to Erdogan’s previously outspoken opposition to high rates and influence over the central bank.

Persons: Tayyip Erdogan, ”, Piotr Matys, “, Erdogan, ” Erdogan, Hafize Gaye Erkan, — Osman Cevdet Akcay, Fatih Karahan, — Organizations: Analysts, Touch, Wall Street

☆ The next earthquake: Is time running out for Europe's largest city?
▼ + stars: | 2023-08-23 | by ( Idil Karsit | ) www.cnbc.com time to read: +1 min

In 1999, a 7.4 magnitude earthquake struck the Marmara region of Turkey, killing at least 17,000 people. It also ruptured some parts of the North Anatolian fault line, creating a time bomb under the city of Istanbul. Experts warn that a magnitude 7 or above earthquake could strike the city at any given time in the next 30 years. "We are not ready," said Naci Gorur, a geologist and professor at Istanbul Technical University. "I'm afraid an earthquake in Istanbul will cause even more destruction than what we witnessed in the Kahramanmaras earthquake that struck Turkey's south in February 2023."

Persons: Naci Gorur, Didem, Osman Ozbulut Organizations: Istanbul Technical University, University College London, University of Virginia Locations: Marmara, Turkey, Istanbul

Yet a sharp drawdown in the excess savings created by COVID-19 could be a curve ball that slams into bullish sentiment. U.S. excess savings have fallen to around $500 billion from around $2.1 trillion in August 2021, the San Francisco Federal Reserve estimates. In Europe, Deutsche Bank reckons excess savings in Sweden, struggling to contain a property slump, have dwindled. Reuters GraphicsRUNNING OUTDefinitions for excess savings differ, but economists generally agree that this means savings that went beyond trend levels during the pandemic. Cardano chief economist Shweta Singh said U.S. pandemic excess savings are likely to be depleted by year-end.

Persons: Rachel Adams, Janus Henderson, Oliver Blackbourn, Shweta Singh, Guy Miller, Jamie Dimon, Ben, Eren Osman, Arbuthnot Latham, Janus Henderson's Blackbourn, U.S . Russell, Russell, Goldman Sachs, Blackbourn, Zurich's Miller, Simon Bell, Guilluame Paillat, Paillat, Naomi Rovnick, Sharon Singleton Organizations: Oxford, REUTERS, San Francisco Federal, Deutsche Bank, Reuters, Insurance Group, Ryanair, JPMorgan, Unilever, U.S ., London's, Bank of, Aviva, Thomson Locations: Britain, London, China, Europe, U.S, Sweden, United States, downturns, Australia

☆ Turkey's Erdogan appoints three deputy governors to central bank
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] Turkish President Tayyip Erdogan addresses supporters at the Presidential Palace after his victory in the second round of the presidential election, Ankara, Turkey, May 29, 2023. REUTERS/Umit Bektas/File PhotoISTANBUL, July 28 (Reuters) - Turkish's President Tayyip Erdogan named three deputy governors to the central bank, the country's official gazette said early on Friday, hours after the bank vowed to continue gradual monetary tightening and raised its end-2023 inflation forecast. Osman Cevdet Akcay, Fatih Karahan and Hatice Karahan were appointed as deputy central bank governors, according to a decision published in the official gazette. On Thursday, Turkey's central bank raised its end-2023 inflation forecast sharply to 58% and said it would continue monetary tightening. In what is seen as a pivot to economic orthodoxy, Erdogan appointed Mehmet Simsek as finance minister and Erkan as central bank governor shortly after his re-election in May.

Persons: Tayyip Erdogan, Umit, Osman Cevdet Akcay, Fatih Karahan, Hatice Karahan, Yapi, Hafize Gaye Erkan, Erdogan, Mehmet Simsek, Emrah Sener, Taha Cakmak, Mustafa Duman, Ezgi Erkoyun, Leslie Adler, Jamie Freed Organizations: REUTERS, Federal Reserve Bank of New, Amazon, Thomson Locations: Ankara, Turkey, ISTANBUL, Federal Reserve Bank of New York, Turkey's

☆ How Abu Dhabi's $276 billion Mubadala sovereign wealth fund is investing in software in the new age of AI
▼ + stars: | 2023-07-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

Ali Osman, head of technology and software investments at Abu Dhabi's giant Mubadala sovereign wealth fund, has invested steadily through it all and is not shying away from putting more money to work. He and his team focus on business software and specialize in private equity, making direct buyout investments and indirect bets through major PE firms. Osman works with many of the biggest and most successful PE firms in the tech space, including Thoma Bravo, TPG and Bain Capital. AI uncertainty and dataThe generative AI boom, and the rise of large language models, has introduced a major new variable to software investing. The other bottleneck is capital, basically the cash available to invest in software businesses.

Persons: Ali Osman, Mubadala, Osman, Thoma Organizations: Abu, Thoma Bravo, TPG, Bain Capital, Vista Equity Partners, PE Locations: Morocco, SalesLoft, mindspace

☆ Wall Street on ice ahead of big tech earnings, UK shines
▼ + stars: | 2023-07-19 | by ( Naomi Rovnick | ) www.reuters.com time to read: +3 min

Tech stocks have been boosted by exuberance about artificial intelligence as well as hopes the Federal Reserve will soon end the aggressive interest rate rises that bludgeoned valuations of more speculative businesses in 2022. Owning big tech is also the "most crowded" trade in global markets, Bank of America strategist Michael Hartnett warned in a note to clients this week. This was just the latest downside surprise on prices for a major economy after more than 18 months of central banks cranking interest rates higher. Sterling lost 0.96% to trade at $1.291 as market bets that the Bank of England would raise interest rates as high as 6%, from the current 5%, faded out. London's blue-chip FTSE 100 (.FTSE) added 1.6% and the domestically focused FTSE 250 (.FTMC) rose 3.2%, on track for its best daily performance since February 2.

Persons: Sterling, Michael Hartnett, Hartnett, BofA, Stuart Kaiser, Eren Osman, Arbuthnot Latham, BoE, Samuel Tombs, Kenneth Broux, Germany's, Tom Westbrook, Bernadette Baum, Kim Coghill, Chizu Organizations: Stock, Wall, Tesla, Netflix, Nasdaq, Tech, Reserve, Bank of America, Citi, Bank of England, Macroeconomics, Sterling, . Federal, Societe Generale, Thomson Locations: London, Sydney

☆ Tamer U.S. inflation lifts global stocks to new 2023 high, dollar slides
▼ + stars: | 2023-07-13 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

Interest rate futures showed markets have fully priced in another rate hike from the Federal Open Market Committee (FOMC) later this month, but expectations of any further increases have faded. The softer dollar helped gold prices advance to near one-month highs, while oil prices hovered above $80 a barrel. The MSCI All Country stock index (.MIWD00000PUS) was up 0.5% at 691 points, hitting a new high for the year. It is up 13.5% so far in 2023, though still not wiping out all of the near 20% loss in 2022. Brent crude futures rose 0.2% to $80.27 per barrel and U.S. West Texas Intermediate crude futures were slightly firmer at $75.80.

Persons: Eren Osman, Arbuthnot Latham, Osman, Stocks, Premier Li Qiang, Bonds, Huw Jones, Stella Qiu, Lincoln, Kim Coghill, William Maclean, Chizu Organizations: PPI, Federal Reserve, Treasury, Federal, Market, Arbuthnot Latham & Co, Japan's Nikkei, Premier, Brent, . West Texas, Thomson Locations: Asia, Europe, U.S, CHINA, China, Pacific, Japan, Hong Kong

☆ US hostage envoy Roger Carstens quietly traveled to Venezuela this week
▼ + stars: | 2023-06-21 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +3 min

CNN —US Special Presidential Envoy for Hostage Affairs Roger Carstens quietly traveled to Venezuela this week, a State Department spokesperson confirmed to CNN Wednesday. Carstens traveled to the capital city of Caracas for “discussions about the welfare and safety of US nationals wrongfully detained in Venezuela,” the spokesperson said. “We continue to advocate for the immediate and unconditional release of all wrongfully detained US nationals in Venezuela at every opportunity,” they said. ‘Signing his death warrant’The family members of the detained Americans, all of whom have been detained more than a year, are increasingly worried about their loved ones. Tillery told CNN that the US is “signing his death warrant” by not securing Kenemore’s release.

Persons: Hostage Affairs Roger Carstens, Carstens, ”, “, Eyvin Hernandez, Jerrel Kenemore, Luke Denman, Airan Berry, Nicolas Maduro, Jeana, Tillery, Gustavo Cárdenas –, Jorge Alberto Fernandez, – Jose Pereira, Jorge Toledo, Tomeu, Alirio Zambrano, Jose Luis Zambrano, Matthew Heath, Osman Khan –, Biden Organizations: CNN, Hostage Affairs, State Department, United Locations: Venezuela, Caracas, United States, Venezuelan

"It is clear that to ensure economic confidence, legal consistency is a must," one of the senior officials said. Deniz Ozen, lawyer for the Turkish Workers' Party MP, said authorities are violating Turkish law by keeping him in jail. Emma Sinclair-Webb, Turkey director of Human Rights Watch, said a discredited justice system is a matter of concern especially for European investors. Reinforcing the apparent U-turn, Erdogan on Friday named Hafize Gaye Erkan as central bank governor, paving the way for interest rate hikes. "No matter the economic reforms, the investment will not significantly ramp up," he said.

Persons: Erdogan, Tayyip Erdogan, Mehmet Simsek, Simsek, Mehmet Gun, Orhan Turan, Turkey's, Osman, Deniz Ozen, Emma Sinclair, Hafize Gaye Erkan, Howard Eissenstat, Burcu Karakas, Jonathan Spicer, Catherine Evans Organizations: Better Justice Association, Istanbul Convention, Gazette, Bank, AK Party, of Human, Human Rights, Turkish Workers ' Party, Finance, St, Lawrence University, Thomson Locations: ISTANBUL, Turkey, Istanbul, Osman Kavala, Kavala, Webb

REYKJAVIK, May 16 (Reuters) - European leaders will travel to Iceland on Tuesday for a two-day summit meant to show their support for Ukraine but also send a powerful message on core democratic values many feel are under threat in and outside Europe. The CoE's democratic values are upheld by the Strasbourg-based European Court of Human Rights, where citizens can take governments to court in case of human rights violations. Even Russia didn't want to leave the Council of Europe, Turkey doesn't want to leave either." European leaders such as Germany's Olaf Scholz, Britain's Rishi Sunak and French President Emmanuel Macron will attend the summit in Reykjavik, while Ukraine's Volodymyr Zelenskiy will address his counterparts via videolink. Macron's office said the Council is looking at how its little-known bank, the Council of Europe Development Bank (CEB), could help meet the needs of struggling Ukrainians.

☆ Turkey election rivals both claim early lead, but runoff is likely
▼ + stars: | 2023-05-14 | by ( ) www.cnbc.com time to read: +3 min

Supporters of Turkish President Tayyip Erdogan attend a rally ahead of the May 14 presidential and parliamentary elections, in Istanbul, Turkey May 12, 2023. Turkey appears headed for a presidential election runoff, with the parties of Tayyip Erdogan and opposition rival Kemal Kilicdaroglu claiming the lead. Early results put Erdogan comfortably ahead, but as the count continued his advantage eroded, with a runoff on May 28 beckoning. Ankara's opposition mayor Mansur Yavas said a count by his party suggested Kilicdaroglu was ahead with 47.42%, while Erdogan had 46.48%. His government's slow response to a devastating earthquake in southeast Turkey that killed 50,000 people added to voters' dismay.

ApartmentComplex Before dawn on Feb. 6, a powerful earthquake in southern Turkey destroyed an upscale apartment complex, killing hundreds. The main building in the Renaissance complex toppled over, evidence that the building had major vulnerabilities on the lower level and the south side. Tall column Recreational space on ground floor Antis Yapi via Facebook The most vulnerable part of Renaissance was the ground floor, which had an open layout. 3-D model highlights the ground floor columns and recreational spaces. The horizontal forces could have weakened the ground floor columns and possibly torn them apart.

[1/3] Smoke rises above buildings after an aerial bombardment, during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North, Sudan, May 1, 2023. "It's been four days without electricity and our situation is difficult," said 48-year-old Othman Hassan from the southern outskirts of the city. Despite multiple ceasefire declarations, the army and the paramilitary Rapid Support Forces (RSF) appeared to be fighting for territory ahead of proposed talks. The army and RSF, which had shared power after a coup in 2021, have accused each other of breaching a string of truces. The U.N. has pressed the warring sides to guarantee safe passage of aid after six of its trucks were looted.

☆ Palace email says queen knew Murdoch's UK group spied on her family
▼ + stars: | 2023-04-27 | by ( Sam Tobin | ) www.reuters.com time to read: +3 min

Clive Goodman, the News of the World's then royal reporter, was jailed in 2007 for illegally intercepting royal household phone messages. Harry, estranged from his father King Charles, says he did not bring a lawsuit earlier because of a "secret agreement" between Buckingham Palace and Murdoch's executives to protect the royal family from embarrassment. News Group denies any such agreement, while the palace has not commented. Osman told Brooks in a separate 2018 email that there was an "institutional appetite" within the royal family to resolve Harry’s phone-hacking case. Harry, who now lives in California with his family, was not in court, but is following the proceedings by video link.

☆ Sudanese man braves Khartoum battles to tend to wild animals at his sanctuary
▼ + stars: | 2023-04-25 | by ( Anna Magdalena Lubowicka | ) www.reuters.com time to read: +2 min

"We're struggling on one side to feed our family and children and close ones," he said. Since the warfare erupted on April 15, tens of thousands have already left for neighbouring countries, despite the uncertainty of conditions there. "We're really risking our lives every day to try to reach [the sanctuary], if not every day, every other day," he said. Salih said his team came under live fire in the first few days of fighting, and bombshells hit the sanctuary, including the lion enclosure. We're very scared ... everybody is on their own right now fighting for their own survival."

☆ NBA roundup: Suns secure No. 4 seed in West
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +4 min

Deandre Ayton scored 16 points, and Devin Booker had 15 points and eight assists. Christian Braun scored 15 points, Jeff Green had 14 and DeAndre Jordan registered 12 points and 11 rebounds. Bam Adebayo supplied 14 points and eight rebounds, while Max Strus also had 14 points as Miami connected on 18 of its 39 shot attempts from beyond the arc. Joel Embiid paced the 76ers with 21 points, six rebounds and two blocks, while James Harden finished with 14 points, four rebounds and four assists. Kris Dunn finished with 22 points, eight assists and seven boards, while Kelly Olynyk totaled 16 points, 14 rebounds and eight assists to pace the Jazz.

"The fundamental consequence of Ince's (candidacy) is sending the elections to a second round," Panoramatr research director Osman Sert told Reuters. "But even if there is such a meltdown it would not prevent the election going to a second round," Sert said. POLITICAL STABILITYIf no presidential candidate gets more than 50% in the May 14 vote, the top two would compete in a second round two weeks later. Data from closely-watched pollster Metropoll showed Ince and undecided voters would determine the presidential vote, its head Ozer Sencar said. Among voters opposed to Erdogan, some voice dissatisfaction with the diverse main opposition alliance, partly as it includes parties led by former Erdogan allies and an Islamist party.

☆ Exclusive: How generative AI startup Treat scored $8.5 million in funding from Greylock to help companies create personalized product photos
▼ + stars: | 2023-04-04 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

Treat uses generative AI technology to create personalized product images based on customer data. The startup recently raised $8.5 million in seed funding from Greylock Partners. Their startup Treat, which leverages generative AI to create personalized product photos, recently landed $8.5 million in seed funding from Greylock Partners. A number of other up-and-coming generative AI startups, like Flair AI, have emerged to tackle the issue of creating branded product photos quickly. With its new seed funding, Treat is planning to hire more machine learning, sales, and operations talent.

☆ The Edge Group’s Jim Osman on Alibaba spinoff investment opportunity
▼ + stars: | 2023-03-28 | 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 EmailThe Edge Group’s Jim Osman on Alibaba spinoff investment opportunityJim Osman, The Edge Group, joins CNBC's "Fast Money" to discuss the fallout from the Alibaba split.

While Alibaba announced it would split its company as a move "designed to unlock shareholder value and foster market competitiveness," " Fast Money " traders aren't so sure about buying the stock. The Chinese tech giant announced Tuesday it would divide its company into six business groups. BABA 1D mountain Alibaba stock However, a couple of the "Fast Money" traders are hesitant as to whether the stock is now a good play. This is a wait-and-see moment," said Tim Seymour, founder and chief investment officer of Seymour Asset Management. She said that while sentiments with Chinese tech companies could potentially have bottomed out, she is unsure how the split will be executed.

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