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☆ Beware the bears: Why it's too easy to be a seller right now
▼ + stars: | 2023-10-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

Now that we are almost back to normal via de-inversion, what does that say to the billionaire class? The stock sellers show no fortitude. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: —, Jerome Powell, Brent, didn't, Jim Cramer's, Jim Cramer, Jim, Kai Pfaffenbach Organizations: Treasury, Costco, Organization of Petroleum, Club, Costco Wholesale, Nike, Honeywell, Nvidia, Fed, Jim Cramer's Charitable, CNBC Locations: Saudi Arabia, Frankfurt, Germany

☆ 2023 World Artistic Gymnastics Championships: Simone Biles goes for more medals
▼ + stars: | 2023-09-30 | by ( Ben Morse | ) edition.cnn.com time to read: +12 min

The 26-year-old has another opportunity to add to her medal collection over the next week at the 2023 World Artistic Gymnastics Championships in Antwerp, Belgium. Smiley N. Pool/Houston Chronicle/Getty Images Biles competes on the balance beam during the US National Gymnastics Championships in August 2013. Dean Mouhtaropoulos/Getty Images Biles dodges a bee flying near her during the medal ceremony at the 2014 World Championships. I’m just going to come back another day, another day.’”In qualifying for the world championships, she became the only US woman to qualify for six world championships, her first being in 2013 – an event that was also held in Antwerp. Biles is already the most decorated gymnast in US history, winning 32 medals across the Olympics and the world championships.

Persons: Simone Biles, Biles, Laurence Griffiths, Ron, Smiley, Tim Clayton, Corbis, Dean Mouhtaropoulos, Lintao Zhang, Nellie, Adria, Leslye Davis, Gabby Douglas, Douglas, Donald Miralle, Ezra Shaw, Damir Sagolj, Reuters Biles, Kai Pfaffenbach, Laurie Hernandez, Madison Kocian, Aly Raisman, David Ramos, Emmanuel Dunand, Jimmy Fallon, Donald Glover, Andrew Lipovsky, Michael Phelps, Raisman, Olivia Munn, Trae Patton, Michelle Obama, Barack Obama, Alex Wong, Bob Levey, Sasha Farber, Eric McCandless, Daniel Dunn, Ulrik Pedersen, NurPhoto, Lionel Bonaventure, Emilee Chinn, Natacha, Cecile Canqueteau, Landi, Shannon Miller, Robert Gauthier, McKayla Maroney, Maggie Nichols, Larry Nassar, Saul Loeb, Joe Biden, Biden, James Corden, Pete Buttigieg, Terence Patrick, Stacy Revere, I’m, ” Biles, Olympics.com, “, ’, Yves Logghe Organizations: CNN, Tokyo, NBC, BBC, Houston Chronicle, The New York Times, US, Getty, Reuters, White House, Disney, Entertainment, Walt Disney Television, Houston Texans, GK, Los Angeles Times, USA Gymnastics, CBS, Tokyo Olympics, AP, Games, Olympic Committees Locations: Antwerp, Belgium, Paris, Houston, Spring , Texas, Rio de Janeiro, AFP, Tokyo, American, Biles, San Jose , California, China, Japan, Great Britain, Canada

☆ German GDP expected to contract by 0.6% this year, economic institutes say
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Business sentiment has recently deteriorated again and overall, the indicators suggest that production fell noticeably in the third quarter of 2023, the economic institutes said. GDP is expected to shrink by 0.4% in the third quarter, following stagnation in the second quarter. For 2024, the institutes - four German and one Austrian - forecast GDP growth of 1.3%, down from 1.5% previously. In the following years, a decreasing potential growth rate due to the shrinking labour force will become more and more apparent, the economic institutes said. The Joint Economic Forecasts are prepared by the Ifo Institute, the Halley Institute for Economic Research, the Kiel Institute for the World Economy, the RWI – Leibniz Institute for Economic Research and the Austrian Institute of Economic Research.

Persons: Kai Pfaffenbach, Oliver Holtemoeller, Maria Martinez, Friederike Heine Our Organizations: REUTERS, Rights, Reuters, Halle Institute for Economic Research, Ifo Institute, Halley Institute for Economic Research, Kiel Institute, Institute for Economic Research, Austrian Institute of Economic Research, Thomson Locations: Frankfurt, Germany

☆ Micron shares fall as demand recovery 'off to slow start'
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. "The recovery path is off to a slow start," analysts at Evercore ISI said in a note. Micron is also working to become a supplier to AI chip giant Nvidia (NVDA.O), it said on Wednesday. The company forecast adjusted loss per share of $1.07 for the current quarter, steeper than analysts' estimates for a 95 cents-per-share loss. Those losses have largely been recouped, with its shares rising about 36% in 2023 as investors hoped for a recovery.

Persons: Kai Pfaffenbach, Micron's, Chavi Mehta, Yuvraj Malik, Devika Organizations: REUTERS, Micron, Evercore, Nvidia, Citigroup, LSEG, Thomson Locations: Frankfurt, Germany, Bengaluru

☆ Triathlon-Coninx pulls off breathtaking win to become world champion
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +1 min

2022 European Championships - Triathlon - Olympiapark Triathlon Course, Munich, Germany - August 14, 2022 France's Dorian Coninx in action during the Triathlon Elite Mixed Relay REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsSept 23 (Reuters) - Frenchman Dorian Coninx claimed his first world title on Saturday after a colossal effort in a breathtaking sprint finish to win the World Triathlon Championship finals in Pontevedra, Spain. Coninx overtook Germany's Tim Hellwig and compatriot Pierre Le Corre in an exciting final-lap sprint that saw the three athletes separated by seconds. "World Champion, Still can't believe it. French team did it again," Coninx said on social media. With the Olympics on home soil next year, the French team, including former champion Leo Bergere, who finished fourth, will be the favourites for medals.

Persons: Dorian Coninx, Kai Pfaffenbach, Frenchman Dorian Coninx, Coninx, Germany's Tim Hellwig, Pierre Le Corre, Alex Yee, Hayden Wilde, Yee, Wilde, Leo Bergere, Angelica Medina, Clare Fallon Organizations: New Zealand, Thomson Locations: Munich, Germany, Pontevedra, Spain, French, Mexico City

☆ Commerzbank shares fall after report on strategy review
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsFRANKFURT, Sept 22 (Reuters) - Shares of Commerzbank (CBKG.DE) were down 3.4% late on Friday after a German newspaper reported details of the lender's new strategy plans to be announced in November. Shares of the bank were down by only around 0.4% before publication of the report. It plans to announce its strategy review on Nov. 8. Like many banks, Commerzbank has been benefiting from a rise in interest rates and the income that generates. Reuters GraphicsThe bank's chief executive Manfred Knof said this week that the main focus of the new strategy would be growth in its customer business.

Persons: DAX, Kai Pfaffenbach, Commerzbank, Manfred Knof, Bettina Orlopp, Tom Sims, Rachel More, Friederike Heine, Kirsten Donovan Organizations: REUTERS, Rights, Thomson Locations: Frankfurt, Germany, Commerzbank

People enter a building before the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsSept 22 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Ainslee Withey, a Barclays (BARC.L) technology banker, as a managing director in its technology investment banking group for internet dealmaking, according to people familiar with the matter. Withey, who spent 15 years at Barclays and focused on internet investment banking, will be based in San Francisco and report to Deutsche's co-head of technology, media and telecoms (TMT) investment banking, Ajay Shah, the sources said, adding that she will start her new role in December. Withey started her investment banking career at Lehman Brothers in 2005 and joined Barclays three years later. In July, Deutsche hired 50 senior bankers in the origination and advisory business of its global investment bank.

Persons: Kai Pfaffenbach, Ainslee Withey, Deutsche's, Ajay Shah, Withey, Milana Vinn, Matthew Lewis Organizations: Deutsche Bank, REUTERS, Deutsche Bank AG, Barclays, Deutsche, Lehman Brothers, Thomson Locations: Frankfurt, Germany, San Francisco, Americas, New York

Yet in Europe, sterling came under pressure after data showed Britain's high inflation rate fell unexpectedly in August, prompting speculation that the Bank of England could pause its historic run of interest rate hikes as soon as Thursday. Two-year Treasury yields were down 3.5 basis points in London trade at 5.07%, having risen sharply on Tuesday, when five- and 10-year Treasury yields reached 16-year highs. World stock markets were edging higher ahead of the Fed rate decision. UK gilt yields fell sharply as investors slashed bets for a rate hike on Thursday, with two-year yields last down over 14 bps at 4.85% . "Combined with their recent dovish commentary, we now expect the MPC to keep Bank Rate unchanged tomorrow and lower our forecast for the terminal policy rate to 5.25%," Stehn and co. added.

Persons: DAX, Kai Pfaffenbach, Jerome Powell, Lee Hardman, Sterling underperformed, Goldman Sachs, Sven Jari Stehn, Stehn, Masato Kanda, Eugene Low, Dhara Ranasinghe, Samuel Indyk, Tom Westbrook, Toby Chopra, Chizu Organizations: REUTERS, Sterling, U.S, Treasury, Federal Reserve, Bank of England, Brent, Federal, Fed, Japan's Nikkei, MPC, Monetary, Bank of, New Zealand, Thomson Locations: Frankfurt, Germany, Europe, Saudi Arabia, Russia, U.S, London, Sweden, Switzerland, Norway, Britain, Japan, Asia, Pacific, Hong Kong, China, Singapore

European Central Bank (ECB) President Christine Lagarde speaks to the media following the Governing Council's monetary policy meeting at the ECB headquarters in Frankfurt, Germany, July 27, 2023. Lagarde stigmatised the leak at the start of the two-day meeting, a criticism that was echoed by several colleagues. But as borrowing costs were pushed higher, more policymakers expressed reservations about further hikes, the sources said. Lagarde has spared no effort in trying to woo her colleagues. In return, she asked for governors to stop trashing policy decisions once taken, keep internal disputes out of the media and put their phones away while colleagues were speaking.

Persons: Christine Lagarde, Kai Pfaffenbach, Mario Draghi, Claudia Buch, Andrea Enria, Lagarde's, Lagarde, Weeks, Draghi, Francesco Canepa, Mike Harrison Organizations: European Central Bank, ECB, REUTERS, SANTIAGO DE, Central Bank, Reuters, Governing Council, Single, Thomson Locations: Frankfurt, Germany, FRANKFURT, SANTIAGO, SANTIAGO DE COMPOSTELA, Draghi

☆ German engineering production to fall further in 2024- VDMA association
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsBERLIN, Sept 12 (Reuters) - Germany's engineering association (VDMA) expects production in the sector to extend its decline next year, falling 2% dragged by weak orders domestically and abroad, its Chief Economist Ralph Wiechers said. Wiechers confirmed VDMA production forecast for 2023 of a 2% drop, adding that losses in the second half of the year would eat up the 1.7% growth recorded in the first six months. "2024 will be a kind of transition year," Wiechers told Reuters. German exports to China grew by 4.4% in the first half of the year but growth was still significantly less than in the United States where sales rose by 21.6%. Reporting by Tom Kaeckenhoff; Writing by Riham Alkousaa; Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Kuka, Mercedes Benz, Kai Pfaffenbach, Ralph Wiechers, Wiechers, Tom Kaeckenhoff, Riham Alkousaa, Tomasz Janowski Organizations: Daimler, REUTERS, Rights, Reuters, Thomson Locations: Rastatt, Germany, Ukraine, China, United States

European Central Bank (ECB) President Christine Lagarde speaks to the media following the Governing Council's monetary policy meeting at the ECB headquarters in Frankfurt, Germany, July 27, 2023. "It's such a close call between the pause and the rate hike," said ING's global head of macro Carsten Brzeski. Traders are torn but favour an ECB pause, pricing in around a 40% chance of a hike. For many economists, one thing is clear: if the ECB has further tightening to deliver, September is likely its last chance. Even the hawks, keeping a hike on the table, say fresh ECB projections on Thursday are key to the decision.

Persons: Christine Lagarde, Kai Pfaffenbach, Reinhard Cluse, Mario Centeno, Isabel Schnabel, Austria's Robert Holzmann, Iain Stealey, Philip Lane, Kaspar Hense, Yoruk Bahceli, Stefano Rebaudo, Dhara Ranasinghe, Susan Fenton Organizations: European Central Bank, ECB, REUTERS, Central Bank, Traders, UBS, JPMorgan Asset Management, Reuters, ING, BlueBay Asset Management, Reuters Graphics Reuters, Thomson Locations: Frankfurt, Germany, Italy

☆ Europe faces dirtier inflation fight than US
▼ + stars: | 2023-09-06 | by ( Francesco Guerrera | ) www.reuters.com time to read: +6 min

The euro zone’s export-led economy is weak, consumers and businesses are borrowing less, and higher borrowing costs mean there’s further pain to come. The contrasting fortunes of Christine Lagarde, president of the European Central Bank, and Jerome Powell, chair of the U.S. Federal Reserve, can be summed up in two numbers. The equivalent figures for the euro zone were 5.3% and 0.6%, respectively. Euro zone inflation has halved from the 10.6% peak it reached in October 2022. Europe faces a longer and dirtier fight to tame rising prices.

Persons: Kai Pfaffenbach, Christine Lagarde, Jerome Powell, That’s, Lagarde, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: European Central Bank, REUTERS, Reuters, U.S . Federal, P, International Monetary Fund, ECB, Economics, Labour, Thomson Locations: Frankfurt, Germany, Europe, United States, U.S, China

☆ For traders, September's ECB move is far from clear cut
▼ + stars: | 2023-08-31 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

REUTERS/Kai Pfaffenbach/File PhotoData on Thursday showed euro zone inflation held at 5.3% in August rather than dropping. Overall money supply in the bloc contracted in July for the first time since 2010, demonstrating the extent to which ECB policy has tightened financial conditions. And even if investors are divided on September’s decision, the consensus is that the ECB will be done raising rates soon. Longer-term, markets expect the ECB to start cutting rates by the second quarter of 2024. (This story has been corrected to clarify that Aviva favours a small overweight in European bonds, not longer-dated euro zone bonds, in paragraph 19)

Persons: Christine Lagarde, Kai Pfaffenbach, Piet Christiansen, ’ indecisiveness, ” Christiansen, Isabel Schnabel, Robert Holzmann, ”, Mauro Valle, Valle, Edward Hutchings, Frederik Ducrozet, ” Aviva’s Hutchings, ” Pictet’s Ducrozet Organizations: Reuters, European Central Bank, Central Bank, ECB, REUTERS, Danske Bank, Generali Investments, Treasury, Aviva Investors, Pictet Wealth Management, Aviva Locations: Frankfurt, Germany, Austrian

☆ Analysis-For traders, September's ECB move is far from clear cut
▼ + stars: | 2023-08-31 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

REUTERS/Kai Pfaffenbach/File PhotoData on Thursday showed euro zone inflation held at 5.3% in August rather than dropping. Another inflation hawk, Austrian central bank chief Robert Holzmann, said the ECB could deliver “another hike or two”. Overall money supply in the bloc contracted in July for the first time since 2010, demonstrating the extent to which ECB policy has tightened financial conditions. And even if investors are divided on September’s decision, the consensus is that the ECB will be done raising rates soon. Longer-term, markets expect the ECB to start cutting rates by the second quarter of 2024.

Persons: Christine Lagarde, Kai Pfaffenbach, Piet Christiansen, ’ indecisiveness, ” Christiansen, Isabel Schnabel, Robert Holzmann, ”, Mauro Valle, Valle, Edward Hutchings, Frederik Ducrozet, Aviva’s Hutchinson, ” Pictet’s Ducrozet Organizations: Reuters, European Central Bank, Central Bank, ECB, REUTERS, Danske Bank, Generali Investments, Treasury, Aviva Investors, Pictet Wealth Management Locations: Frankfurt, Germany, Austrian

☆ No appetite at Fed, ECB for changing inflation goal
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

European Central Bank (ECB) President Christine Lagarde speaks to the media following the Governing Council's monetary policy meeting at the ECB headquarters in Frankfurt, Germany, July 27, 2023. "Two percent is and will remain our inflation target," Powell said in his keynote address. After aggressive interest rate increases by the Fed and the ECB, among others, inflation has fallen but has not yet reached the 2% goal in either Europe or the United States. Increasing the target could undermine efforts to anchor inflation expectations, she said, and anchored expectations are key to keeping inflation constrained. Reporting by Ann Saphir, Howard Schneider and Balazs Koryani; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Christine Lagarde, Kai Pfaffenbach, JACKSON, Jerome Powell, Powell, Lagarde, Ann Saphir, Howard Schneider, Balazs Koryani, Andrea Ricci Organizations: European Central Bank, ECB, REUTERS, U.S . Federal Reserve, Federal Reserve Bank of Kansas, Fed, Thomson Locations: Frankfurt, Germany, , Wyoming, Jackson Hole , Wyoming, Federal Reserve Bank of Kansas City, Europe, United States

☆ German economy stagnates in Q2 after winter recession
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Kai Pfaffenbach Acquire Licensing RightsBERLIN, Aug 25 (Reuters) - The German economy stagnated in the second quarter compared to the previous three months, following a winter recession, data from the statistics office showed on Friday. Year on year, adjusted GDP contracted by 0.2% in the second quarter. Quarter on quarter, economic activity had fallen by 0.4% in the fourth quarter of 2022 and by 0.1% in the first quarter of 2023. Household consumption showed zero growth in the second quarter from the first and government spending rose by 0.1%. Capital investment also grew modestly while exports fell 1.1%, Friday's report showed.

Persons: Kai Pfaffenbach, Maria Martinez, Friederike Heine, John Stonestreet Organizations: REUTERS, Rights, Thomson Locations: Frankfurt, Germany

☆ Global economic transformation risks fuelling inflation: Lagarde
▼ + stars: | 2023-08-25 | by ( Balazs Koranyi | ) www.reuters.com time to read: +2 min

FILE PHOTO-European Central Bank (ECB) President Christine Lagarde speaks to the media following the Governing Council's monetary policy meeting at the ECB headquarters in Frankfurt, Germany, July 27, 2023. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsJACKSON HOLE, Wyoming, Aug 25 (Reuters) - Profound changes in how the global economy operates, from increased protectionism to energy transition, could create greater inflation volatility and more persistent price pressures, European Central Bank President Christine Lagarde said on Friday. Higher investment needs and greater supply constraints are likely to lead to stronger price pressures and not all sectors will be able to absorb these, she warned. "We will have to be extremely attentive that greater volatility in relative prices does not creep into medium-term inflation through wages repeatedly “chasing” prices," Lagarde said. "That could make inflation more persistent if expected wage increases are then incorporated into the pricing decisions of firms, giving rise to what I have called 'tit-for-tat' inflation."

Persons: Christine Lagarde, Kai Pfaffenbach, JACKSON, Lagarde, Balazs Koranyi, Dan Burns, Andrea Ricci Organizations: Central Bank, ECB, REUTERS, European Central Bank, U.S . Federal Reserve Bank of Kansas City, Thomson Locations: Frankfurt, Germany, , Wyoming, Jackson Hole , Wyoming

☆ Simone Biles: How to watch gymnast go for more history at US Gymnastics Championships
▼ + stars: | 2023-08-25 | by ( Ben Morse | ) edition.cnn.com time to read: +9 min

Coverage of the US Gymnastics Championships will be domestically broadcast on NBC and Peacock while international viewers can watch the event on the USA Gymnastics YouTube channel. Simone Biles competes in the floor exercise during the World Championships in 2019. Smiley N. Pool/Houston Chronicle/Getty Images Biles competes on the balance beam during the US National Gymnastics Championships in August 2013. The world gymnastics championships are then scheduled to take place between September 30 and October 8 in Antwerp, Belgium. Biles is the most decorated gymnast in US history, winning 32 medals across the Olympics and the world championships.

Persons: CNN — Simone Biles, she’s, Biles, –, Alfred Jochim, Peacock, Simone Biles, Laurence Griffiths, Ron, Smiley, Tim Clayton, Corbis, Dean Mouhtaropoulos, Lintao Zhang, Nellie, Adria, Leslye Davis, Gabby Douglas, Douglas, Donald Miralle, Ezra Shaw, Damir Sagolj, Reuters Biles, Kai Pfaffenbach, Laurie Hernandez, Madison Kocian, Aly Raisman, David Ramos, Emmanuel Dunand, Jimmy Fallon, Donald Glover, Andrew Lipovsky, Michael Phelps, Raisman, Olivia Munn, Trae Patton, Michelle Obama, Barack Obama, Alex Wong, Bob Levey, Sasha Farber, Eric McCandless, Daniel Dunn, Ulrik Pedersen, NurPhoto, Lionel Bonaventure, Emilee Chinn, Natacha, Cecile Canqueteau, Landi, Shannon Miller, Robert Gauthier, McKayla Maroney, Maggie Nichols, Larry Nassar, Saul Loeb, Joe Biden, Biden, James Corden, Pete Buttigieg, Terence Patrick, Stacy Revere, Jon Durr, “, ” Organizations: CNN, US, NBC, USA, YouTube, Houston Chronicle, The New York Times, Getty, Reuters, White House, Disney, Entertainment, Walt Disney Television, Houston Texans, GK, Tokyo, Los Angeles Times, USA Gymnastics, CBS, Network, Tokyo Games, Olympic Games, Olympics Locations: San Jose , California, Houston, Spring , Texas, Rio de Janeiro, AFP, Tokyo, American, Biles, Antwerp, Belgium

☆ German property developer Gerch restructuring as crisis deepens
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

Dark clouds are seen over the construction site of "4 Frankfurt" skyscraper next to the statue of German inventor Johannes Gutenberg and Commerzbank tower in Frankfurt, Germany, July 19, 2023. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsFRANKFURT, Aug 24 (Reuters) - German property developer Gerch said on Thursday it had filed an application for restructuring proceedings with a local court, the latest real estate firm to run into financial trouble as the sector suffers its biggest crisis in decades. Gerch said the move affected four of the firm's units and that the Duesseldorf court had ordered provisional self-administration. Mathias Duesterdick, CEO of Gerch, last month told Reuters the turn of events in the sector was worrying and predicted difficulties for developers. ($1 = 0.9211 euros)Reporting by Tom Sims, Editing by Rachel More and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Johannes Gutenberg, Kai Pfaffenbach, Gerch, Mathias Duesterdick, Tom Sims, Rachel More, Mark Potter Organizations: REUTERS, Rights, Reuters, Thomson Locations: Frankfurt, Germany, Ukraine

☆ German business activity suffers steepest decline since May 2020
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kai Pfaffenbach Acquire Licensing RightsBERLIN, Aug 23 (Reuters) - German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on Wednesday. A deepening downturn in manufacturing output was accompanied by a renewed contraction in services activity. Business activity in the services sector contracted for the first time in eight months. The manufacturing PMI rose to 39.1 in August from 38.8 in July but remained deeply in contraction territory, the survey showed. There was an increase in inflationary pressures, driven by accelerated cost and price increases in the service sector.

Persons: Kai Pfaffenbach, Cyrus de la Rubia, Rubia, Maria Martinez, Hugh Lawson Organizations: REUTERS, Rights, P Global, Hamburg Commercial Bank, Services, Thomson Locations: Frankfurt, Germany, Hamburg

☆ Moon, Kennedy share world championship pole vault title
▼ + stars: | 2023-08-23 | by ( Lori Ewing | ) www.reuters.com time to read: +1 min

[1/4] Athletics - World Athletics Championship - Women's Pole Vault Final - National Athletics Centre, Budapest, Hungary - August 23, 2023 Australia's Nina Kennedy and Katie Moon of The U.S. celebrate after winning joint gold in the women's pole vault final REUTERS/Kai Pfaffenbach Acquire Licensing RightsBUDAPEST, Aug 23 (Reuters) - American Katie Moon and Australia's Nina Kennedy decided to share the gold medal in a dramatic women's pole vault final at the World Athletics Championships on Wednesday. It was the second consecutive world title for Moon, who also won Olympic gold in Tokyo. The 4.90 mark was a national record for Kennedy and a personal best by eight centimetres. Wilma Murto of Finland tied her season's best of 4.80 for bronze, missing all three of her attempts at 4.85. The 25-year-old became the first Finnish woman to win a Diamond League title when she beat Moon at the London event on July 23.

Persons: Australia's Nina Kennedy, Katie Moon, Kai Pfaffenbach, Moon, Kennedy, Wilma Murto, Lori Ewing, Toby Davis Organizations: National Athletics Centre, Rights, Olympic, Diamond League, Thomson Locations: Budapest, Hungary, U.S, Tokyo, Finland

☆ First event of World Athletics Championships delayed by thunderstorm
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: 1 min

Athletics - World Athletics Championship - National Athletics Centre, Budapest, Hungary - August 19, 2023 General view of rain before the start REUTERS/Kai Pfaffenbach Acquire Licensing RightsBUDAPEST, Aug 19 (Reuters) - A thunderstorm pushed back the start of the men's 20-kilometre race walk, the first event of the World Athletics Championships, by two hours on Saturday. Athletes were minutes from starting when officials announced the delay. The start of the morning session inside the stadium, which was scheduled to start with the men's shot put qualifying, was also delayed by an hour due to the adverse weather. The evening session of the opening day includes finals in the men's shot put, women's 10,000 metres and the mixed 4x400 relay. Reporting by Lori Ewing; Editing by Toby Chopra, Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Kai Pfaffenbach, Lori Ewing, Toby Chopra, Peter Rutherford Organizations: National Athletics Centre, REUTERS, Rights, Thomson Locations: Budapest, Hungary

☆ American Crouser storms to another shot gold
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] Athletics - World Athletics Championship - Men's shot put - National Athletics Centre, Budapest, Hungary - August 19, 2023 Ryan Crouser of the U.S. in action during the final REUTERS/Kai Pfaffenbach Acquire Licensing RightsBUDAPEST, Aug 19 (Reuters) - Remarkable American Ryan Crouser continued his red-hot streak when he twice broke his own championship record and signed off with a huge 23.51 metres to win world championship shot put gold for the second time in a row on Saturday. The double Olympic champion smashed his own world record in May with 23.56m and cranked out four efforts beyond 22 metres on Saturday, the enormous last one - the second-best throw in history - coming with the gold already secure. Leonardo Fabbri took a surprise silver for Italy with a personal best 22.34 – the first time he has gone beyond 22 metres. American former champion Joe Kovacs won bronze with 22.12. Reporting by Mitch Phillips, Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Ryan Crouser, Kai Pfaffenbach, Leonardo Fabbri, Joe Kovacs, Mitch Phillips, Hugh Lawson Organizations: National Athletics Centre, REUTERS, Rights, Thomson Locations: Budapest, Hungary, Italy, American

☆ Soccer-Bayern still a work in progress with Bundesliga season set to start
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +3 min

The Bavarians have won the last 11 consecutive league crowns but they needed a Borussia Dortmund slip-up on the final matchday last season to retain it. A 3-0 loss to RB Leipzig in the German Super Cup at home on Saturday left Tuchel, who took over from Julian Nagelsmann late last season, fuming. Kane's German debut, with a low-key substitute appearance in the second half of their Super Cup loss, did little to dampen Bayern fans' enthusiasm and expectations. Their Super Cup win over Bayern gave them an early shot of confidence but they will have to repeat it again on Saturday when they face ambitious Leverkusen in their season opener. "We can improve many things but this obviously did give us a push," said Leipzig coach Marco Rose of the win against Bayern.

Persons: Thomas Tuchel, Harry Kane, Kai Pfaffenbach, Robert Lewandowski, Tuchel, Julian Nagelsmann, Manuel Neuer, Kim Min, jae, Felix Nmecha, Marcel Sabitzer, Rami Bensebaini, Granit Xhaka, Victor Boniface, Jonas Hofmann, Christopher Nkunku, Konrad Laimer, Dominik Szoboszlai, Josko Gvardiol, Andre Silva, Marco Rose, Robin Gosens, Karolos, Robert Birsel Organizations: Soccer Football, DFL, Bayern Munich, RB Leipzig, Allianz Arena, REUTERS, Rights, Bundesliga, Werder Bremen, Borussia Dortmund, Bayern, Tottenham Hotspur, Borussia, Bayer Leverkusen, Germany, Leverkusen, Champions League, Thomson Locations: Munich, Germany, Barcelona, Napoli, Leipzig, Union Berlin

☆ New Zealand keen to host men's World Cup with Australia
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

We’ve shown what we always knew - that we would host the best ever Women’s World Cup. "It's only natural that at some time in the future we would host a men's World Cup. Football Australia boss James Johnson has repeatedly said Australia would like to host the men's World Cup but will need stadiums that meet FIFA requirements. "From our experiences with FIFA in this World Cup, they are willing to work with you and be flexible." The next men's World Cup in 2026 will be hosted by the United States, Canada and Mexico.

Persons: Kai Pfaffenbach, Andrew Pragnell, Pragnell, We’ve, James Johnson, Ian Ransom, Peter Rutherford Organizations: Soccer Football, FIFA World, Qatar, Lusail, New Zealand, New, FIFA, Football Australia, Thomson Locations: Argentina, France, Lusail, Qatar, Australia, New Zealand, Asia, Pacific, Eden, United States, Canada, Mexico, Melbourne

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