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In Japan, for example, most people are actually quite satisfied with housing costs. In recent years, rising rents and home prices driven by a severe housing shortage — coupled with elevated mortgage rates — have caused Americans' housing costs to soar to near-record levels of unaffordability. Some experts have pointed to Japan, where housing costs are lower than peer countries, as a potential model for solutions the US could adopt. While Japan's abundance of housing isn't entirely a positive story, when it comes to Tokyo, housing experts say there are many lessons the US could learn from its ally. AdvertisementWhile a population slowdown could help moderate housing costs, some experts believe a substantial population decline would have big economic consequences in the long run.

Persons: —, aren't Organizations: Service, Business, Housing, Gallup Locations: Japan, Israel, Turkey, Slovenia, Portugal, United States, Tokyo

Shares of Trump Media shot up by more than 25% on Friday, minutes after majority owner Donald Trump said he is not selling his stake. Trump said that Truth Social, the Twitter-like social media platform owned by Trump Media, is "great for me," adding that his stake is still worth more than $1 billion. I'm not going to sell my shares," he said. Analysts have said that investing in Trump Media has become a way for Trump's fans to support him or bet on his political fortunes. The company fell to its post-merger low point this week amid concerns that Trump might start selling his shares once he is free to do so.

Persons: Donald Trump, Trump, I'm, it's, — CNBC's Josephine Rozzelle Organizations: Republican, Trump National Golf Club Los, Trump Media, Nasdaq, SEC Locations: Rancho Palos Verdes , California, California

☆ Nvidia stock can climb for the next 12 months, S&P Global analyst says
▼ + stars: | 2024-09-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Nvidia's stock rally has another 12-18 months left to go, according to S&P Global's Andrew Chang. The stock has at least another year of "strong runaway" amid big demand for its chips, Chang said. His comments bolster predictions of continued upside for Nvidia, Chang said in an interview with Schwab Network on Friday. "It just confirms our view that we have strong runway for at least the next 12 months," Chang said. Nvidia stock sold off in the weeks following its earnings report at the end of August, but the stock staged a fresh rally this week alongside other tech stalwarts including Oracle and Super Micro Computer.

Persons: Andrew Chang, Chang, —, Jensen Huang, Goldman Sachs, Blackwell Organizations: Service, Nvidia, Goldman, Schwab Network, Oracle, Apple, Microsoft, Department of Justice, Bloomberg, Micro Computer, Nasdaq Locations: San Francisco

☆ Forget funds like SPY and VOO — buy this alternative S&P 500 index that's trading near its cheapest levels since the dot-com bubble
▼ + stars: | 2024-09-12 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

But there's another lesser-known S&P 500 index that you might not have heard of: the SPW. In contrast, the conventional S&P 500 allocates more weight to the biggest companies based on market capitalization. Big Tech names carry very little debt on their balance sheets, meaning that they are less affected by elevated interest rates. Bank of AmericaIn contrast, the cap-weight S&P 500 is approaching overvalued territory. Examples of SPW index funds include the Invesco S&P 500 Equal Weight ETF (RSP) and Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW).

Persons: —, that's, Jack Ablin, LPL, Jeff Buchbinder, Savita Subramanian, Buchbinder, Ablin, haven't, Goldman Sachs Organizations: Service, Nvidia, Big Tech, Business, Bank of America, Cresset, Healthcare, financials, Bank of America's, Equity, RSP

☆ Nvidia stock jumps as CEO Jensen Huang looks to address key investor concerns
▼ + stars: | 2024-09-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock surged 6% on Wednesday, helping fuel a tech-led rebound in the stock market. CEO Jensen Huang discussed the return on investment of AI infrastructure at a Goldman Sachs conference. Productivity gains and immediate cost savings are the core tenets of Nvidia's ROI pitch to customers. The gains in Nvidia stock came as CEO Jensen Huang addressed investors at a Goldman Sachs conference in San Francisco Wednesday morning. "You reduce the computing time by about 20 times, and so you get a 10x savings," Huang said of running Nvidia's GPU accelerators relative to traditional CPUs.

Persons: Jensen Huang, Goldman Sachs, —, David Solomon, Huang, Solomon, Nvidia's, Claude, There's Organizations: Nvidia, Goldman, Productivity, Service, San Locations: San Francisco

Disney and DirecTV are not likely to reach a deal in time for "Monday Night Football" according to people familiar with the matter. As a result of the fight, DirecTV customers were unable to see the U.S. Open and the first full weekend of the college football season. DirecTV alerted customers on Friday to competitor alternatives for watching ESPN and also said it would provide a $30 credit to customers. However, Charter and Disney reached a deal hours ahead of "Monday Night Football" that allowed customers to tune in that night. The dispute between DirecTV and Disney has led to mudslinging between the two companies reminiscent of most carriage fights.

Persons: Rob Thun, Venu —, Venu, Disney, It's, Jimmy Pitaro, Nielsen, Pitaro, Adam Schefter, DirecTV's Thun Organizations: ESPN, Jacksonville Jaguars, Cincinnati Bengals, EverBank, DirecTV, Disney, FX, ABC, U.S ., CNBC, Walt Disney Co, Fox Corp, Warner Bros, NFL, Federal Communications Commission, Charter Communications, New York Jets, San Francisco 49ers Locations: Jacksonville , Florida, American, U.S

☆ Fossils show that massive pterosaurs could fly millions of years ago
▼ + stars: | 2024-09-09 | by ( Ashley Strickland | ) edition.cnn.com time to read: +8 min

The newly discovered fossils preserved 3D structures within the delicate wing bones, which typically are found flattened like pancakes within rock layers. CT scans of the fossils provided a rare glimpse inside the wing bones belonging to two species of pterosaurs, including one new to science. These are not unlike those found in the wing bones of modern birds that flap their wings to fly, Rosenbach said. In contrast, spiral ridges within Arambourgiania’s wing bones resembled the interiors of vulture wing bones, which are thought to resist the forces associated with soaring. “They represent the largest animals with the capacity to fly,” Rosenbach said of the extinct reptiles.

Persons: Kierstin Rosenbach, It’s, Tal Inab, “, philadelphiae, Jordan, Rosenbach, ” Rosenbach, Kierstin, Monique Perez, Stacy Kaneko, Danielle Goodvin, Jeff Wilson Mantilla, ”, Michael Benton, Benton, “ It’s, Dr Organizations: CNN, University of Michigan, University of Michigan’s, of Paleontology, University of Bristol Locations: what’s, Jordan, Africa, Ann Arbor, Arambourgiania, United Kingdom

☆ NFL team sales are likely to stall as valuations soar
▼ + stars: | 2024-09-05 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Abbie Parr | Getty Images Sport | Getty ImagesThe Seattle Seahawks may be the next National Football League team to sell. The average NFL team is now worth $6.49 billion, and no team is valued at less than $5.25 billion, according to CNBC's Official 2024 NFL Team Valuations. Seven of the last 10 NFL teams to be sold outperform the S&P 500 on a percentage-gained basis since the sale. Each of the last four NFL team sales has set a new record, showcasing the rise in valuations. WATCH: New England Patriots owner Robert Kraft on new NFL private equity ruleswatch now

Persons: Abbie Parr, Paul Allen, Allen's, Jody, Marc Ganis, Roger Goodell, It's, There's, Neal Pilson, That's, Ganis, —, Daniel Snyder, Josh Harris, Terry Pegula, Kim, Ralph Wilson, David Tepper's, Jerry Richardson, Rob Walton, Pat Bowlen, Virginia Halas McCaskey, George Halas, McCaskey, George McCaskey, They're, Goodell, Curtis Martin, Tracy Gallagher, Gallagher, Robert Kraft, Kraft Organizations: Getty, Seattle Seahawks, National Football League, Former Seahawks, Microsoft, NFL, Disney, National Basketball Association, Netflix, CBS Sports, Pilson Communications, NBA, Washington, Philadelphia 76ers, National Hockey League's New Jersey Devils, Billionaire, Buffalo Bills, Carolina Panthers, Panthers, Walmart, Denver Broncos, Bills, Broncos, Chicago Bears, Bears, The Miami Dolphins, Los Angeles Chargers, Ares Management, Sixth Street Partners, Arctos Partners, Equity, Blackstone, Carlyle Group, Capital Partners, Arta Finance, NHL, Major League Baseball, New England Patriots, CNBC Locations: U.S, Spain, Germany, Brazil

☆ Most striking hotel workers are back on the job, but the strike continues in San Diego
▼ + stars: | 2024-09-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Most of the 10,000 hotel workers who went on strike during the busy Labor Day weekend have returned to work Wednesday, but one group of 700 union members in San Diego will stay on strike for the foreseeable future. Those workers, employed at the Hilton San Diego Bayfront, will remain on strike until there is a contract agreement, their union, Unite Here, says. The union has not ruled out using the same rolling strikes strategy this time, or expanding the strike to other locations. The strategy is intended to help workers keep as many days of pay as possible during a contract negotiation. Beyond the hotel workers, limited duration strikes have been used to win labor deals for school employees in Los Angeles, health care workers at Kaiser Permanente, janitors, nursing home employees and other workers in Minnesota who went on strike together in March.

Persons: Hilton San Diego Bayfront, spokespeople, Hilton, ”, Gwen Mills, Taylor Swift Organizations: New, New York CNN, Labor, Hilton San Diego, Hilton San, Hyatt, “ Workers, Union, Kaiser Permanente Locations: New York, San Diego, Hilton San Diego, Marriott, Los Angeles, Orange counties , California, Southern California, Europe, Kaiser, Minnesota

Economists like to say the cure for high prices is high prices. In other words, consumers eventually start to hold back on spending when they are faced with increasing costs. On Monday, the New York Federal Reserve reported that consumers' three-year inflation outlook hit a record low. Many economists credit the Federal Reserve's decision to raise interest rates starting in the spring of 2022 with helping to curb the upswing. It is that last factor that the Federal Reserve is keenly focused on.

Persons: “, Andrew Jassy, Wells Fargo, Mark Hamrick, ” Organizations: of Labor Statistics, Federal Reserve's, New York Federal Reserve, Federal, Fed, BLS, Gallup, Federal Reserve Locations: U.S, York

☆ Chinese scientists say they've found a way to make hypersonic missiles skip in the sky to strike deeper. US experts aren't convinced it'll be effective.
▼ + stars: | 2024-08-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

Read previewA team of scientists in China believe they've found a way to make hypersonic missiles more potent — by extending their range via "skipping" on the atmosphere. Skip-gliding missiles may also be harder to track and intercept, she added. Kavanagh noted that a future skip-gliding missile would likely still be detectable from hundreds of miles away. AdvertisementKearn believes the issue is being overblown since China has the ability to launch nuclear strikes regardless of its hypersonic missiles. AdvertisementTheir next step, they said, would be to research how easily a skip-gliding missile can maneuver and navigate laterally.

Persons: —, they've, Yong Enmi, Washington, Jennifer Kavanagh, Kavanagh, David Kearn, Biden, Kearn Organizations: Service, China Aerodynamics Research, Development Center, Business, Astronautics, China Morning Post, US, Defense, People's, Army, PLA, Government, St, John's University Locations: China, Hong Kong, Nazi Germany, Beijing, Washington, Hawaii, United States

☆ Paris Olympics ratings soar 82% over Tokyo Games, delivering big boost to NBC’s Peacock streamer
▼ + stars: | 2024-08-13 | by ( Liam Reilly | ) edition.cnn.com time to read: +5 min

The 2024 Summer Olympics in Paris drew a combined average of 30.6 million viewers across NBCU’s constellation of platforms, marking an 82% jump in viewership compared to the Tokyo Games and making the Games the most-streamed Olympics of all time. The network’s Spanish-language broadcast on Telemundo also saw a 26% jump over the same period during the Tokyo Games three years ago. “The Olympics reestablished its unique power to reassemble the American media audience,” said Gary Zenkel, the NBC Olympics president. “NBC Nightly News” anchored by Lester Holt averaged 7.6 million viewers during the two-week period, and the “Today” show averaged 3.1 million viewers, the network said. Last month, Comcast reported the streamer had lost 500,000 subscribers in the second quarter, falling to 33 million total, well below Netflix’s 277 million subscribers and Disney’s 153.6 million.

Persons: ”, Peacock, Gary Zenkel, “, NBCU, Al Michael’s, NBCUniversal, Mark Lazarus, Lester Holt Organizations: New, New York CNN, Comcast, Tokyo Games, Telemundo, Olympics, NBC, America, USA, US, France, Netflix, Amazon Prime, Paris Games, Tokyo, Games, Warner Bros, NBA, Paris Olympics, NBCUniversal Media, “ Parks, Studios Locations: New York, Paris, “ Paris

☆ Stock market today: Stocks soar as investors cheer soft PPI and brace for consumer inflation data
▼ + stars: | 2024-08-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

US stocks rallied on cooling inflation data from the producer price index report. Investors are hoping for evidence of further cooling in Wednesday's consumer price index. Starbucks gained 23% on Tuesday on news Chipotle boss Brian Niccol will be the new CEO. The Bureau of Labor Statistics reported that the producer price index rose 0.1% in July, underwhelming estimates of a 0.2% increase. Investors will now watch for further disinflationary signals in Wednesday's consumer price index report.

Persons: Brian Niccol, —, Dow, Jamie Cox Organizations: Investors, Starbucks, Service, Labor Statistics, Nasdaq, Federal Reserve, Fed, Harris Financial Group, Bank of America

While keeping his outperform rating, Vijay Rakesh chopped $10 off his price target to $145. The Oreo maker should see above-average earnings growth, Jordan said, and the stock itself is a high-quality core holding. — Alex Harring 5:50 a.m.: UBS lays out earnings expectations for Nvidia UBS is remaining bullish on Nvidia heading into the artificial intelligence giant's earnings report. Analyst Timothy Arcuri reiterated his buy rating and $150 price target heading into earnings expected later this month. His price target of $23, up from $20, implies a gain of 28.3% over the next 12 months.

Persons: Piper Sandler, Vijay Rakesh, Rakesh, Alex Harring, Shaun Kelley, Kelley, — Alex Harring, Eli Lilly, Eli Lilly's, James Shin, Shin, Jefferies, Samad Samana, Samana, Goldman, Goldman Sachs, Mills, Leah Jordan, Jordan, Kraft Heinz, Timothy Arcuri, Arcuri, Patrick Moley, Morley, HOOD, Fred Imbert Organizations: CNBC, UBS, Mizuho, Micron, Seagate Technology, Western, Bank of America, Gaming, Consumer, Terre Haute, Kentucky Derby, Deutsche Bank, Par Technology, Jefferies, Conagra Brands, Hershey, Nvidia UBS, Nvidia Locations: Churchill, Northern, Northern Virginia, Kentucky, Robinhood

☆ These cities will be too hot for the Olympics by 2050
▼ + stars: | 2024-08-11 | by ( Lou Robinson | Angela Dewan | ) edition.cnn.com time to read: +8 min

The only certainty about Summer Olympics weather is that there’s really no certainty at all. In other words, holding the Summer Games in these cities would be a huge health risk for the athletes. The Games held in 1996 in Atlanta simply wouldn’t be possible in 2050. They may not againSome of the cities that have already hosted the Summer Games will be way beyond safe temperatures by 2050. Beijing, which hosted in 2008, would be much too hot and humid, with heat stress forecast to soar past 90 degrees.

Persons: CarbonPlan, Spain’s, Oriana Chegwidden, ”, It’s, —, exertional, Yuri Hosokawa, Exertional heatstroke, they’re, ” Hosokawa, Hosokawa, “ Organizations: CNN, Olympics, Brisbane, Doha, Southern, Waseda University Locations: CarbonPlan, Gulf of Mexico, Florida, Texas, Atlanta, China, Beijing, Shanghai, Hong Kong, Southeast Asia, Sydney, di Janeiro, Europe —, London, Oslo, Stockholm, Palermo, Sicily, Spain’s Seville, Los Angeles, Australian, Queensland, Brisbane, India, Ahmedabad, Indonesia, Nusantara, Qatar, Turkey, Istanbul, Poland, Chile, Warsaw, Santiago, Doha, Athens, Rome, Tokyo, Seoul, Barcelona, Australia, Rio de Janeiro, Sapporo, Japan

☆ Russia's GDP growth slowed in Q2 while inflation continued to soar on the back of heavy state spending: report
▼ + stars: | 2024-08-10 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Russia's GDP growth slowed to 4% in Q2, while inflation continued to rise. Economists have long been warning that the Russian economy is showing signs of "overheating." Go to newsletter preferences Thanks for signing up! AdvertisementRussia's economic growth slowed to 4% in the second quarter of 2024, down from 5.4% in Q1, AFP reported, citing official data released on Friday. While the Russian economy continues to expand, it marked the lowest quarterly GDP growth result since the beginning of 2023, the report said.

Persons: — Organizations: Service, AFP, Business Locations: Russian

☆ Florida residents should flee to these 2 popular states before climate change decimates home values
▼ + stars: | 2024-08-10 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Although steadily rising global temperatures and their effects are increasingly hard to ignore, Burt believes they're not yet factored into property values. Flood insurance costs will skyrocket since they're severely underpriced to climate risk, his research indicates. Related stories"I think that there's a lot of pent-up supply from folks, particularly who are being exposed to these ownership cost increases away from mortgage rates," Burt said. They'll then be prepared to either bear the burden of higher insurance costs, or sell. AdvertisementUnlike Ivy Zelman, who's another analyst with a knack for spying issues in the housing market, Burt doesn't think the Midwest is the best region for beach-dwellers to flee to.

Persons: David Burt, who's, Burt, they're, Ivy Zelman, Burt doesn't Organizations: Service, Business Locations: Georgia, Florida, New York

☆ Eli Lilly blows past estimates, hikes guidance as Zepbound, Mounjaro sales soar
▼ + stars: | 2024-08-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +6 min

Shares of Eli Lilly closed more than 9% higher on Thursday. That has forced Eli Lilly and its rival Novo Nordisk to invest heavily to boost manufacturing. "We just see unbelievable demand, and we're not even trying that hard to promote this drug," Eli Lilly CEO David Ricks told CNBC in an interview. Eli Lilly said sales were largely driven by higher demand for Mounjaro and Zepbound as production increases improved supply in the U.S. With a market cap of more than $730 billion, Eli Lilly is the largest pharmaceutical company based in the U.S.

Persons: Eli Lilly, Eli Lilly's, we're, David Ricks, Ricks, Zepbound, Mounjaro, Wegovy Organizations: U.S, Novo Nordisk, Food, CNBC, LSEG Locations: U.S, United States, Novo

A brush fire in San Bernardino County has destroyed several homes in the area, according to San Bernardino County Fire Protection District. Named the Edgehill Fire, it ignited Monday at 2:38 p.m. local time, according to Cal Fire. When firefighters arrived on the scene of the fire in the 3300 block of Beverly Drive on Little Mountain, it was only about an acre big and "rapidly moving," San Bernardino County Fire Protection District said. An evacuation order was issued for people living in parts of San Bernardino County, including on the south side of Ridge Line Drive and on the north side of Edgehill Road, per the fire protection district. A resident leaves with their belongings Monday in San Bernardino.

Persons: David Swanson Organizations: San Bernardino County Fire Protection, Cal Fire, NBC, Getty Locations: San Bernardino County, Beverly, NBC Los Angeles, San Bernardino, AFP

☆ Bitcoin can soar past $100,000 despite recent sell-off: Ava Labs president John Wu
▼ + stars: | 2024-08-06 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin can soar past $100,000 despite recent sell-off: Ava Labs president John WuAva Labs president John Wu weighs in on catalysts contributing to bitcoin's recent sell-off and discusses where he expects crypto markets to head next as the volatile trading week continues. He also discusses utility on the Avalanche blockchain amid new government agency partnerships.

Persons: John Wu Ava, John Wu Organizations: Ava, Avalanche

☆ Why a full-fledged bear market is still unlikely even after the latest sharp sell-off
▼ + stars: | 2024-08-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Bank of America says the recent stock market sell-off is unlikely to be the start of a new bear market. AdvertisementThe stock market's recent sharp sell-off is unlikely to transform into a full-fledged bear market, according to Bank of America. But according to Bank of America strategist Savita Subramanian, the tell-tale signs of a stock market peak have yet to materialize. AdvertisementFor perspective, Subramanian pointed to stock market history to highlight that pullbacks in the market are common. Instead of preparing for a prolonged market sell-off, Subramanian recommends investors go bargain hunting and focus on buying high quality stocks.

Persons: BofA, —, Savita Subramanian, Subramanian Organizations: of America, Credit, Service, Bank of America, Nasdaq, Conference, Senior

☆ Greenlight's David Einhorn sees 'higher secular inflation' in the years ahead
▼ + stars: | 2024-08-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Greenlight Capital's David Einhorn believes the outcome of the U.S. presidential election is insignificant to the markets, as he sees elevated inflation on the back of a burdening fiscal deficit under both candidates. "From a market perspective, we don't think it matters very much who wins," Einhorn wrote in a letter to investors dated Tuesday. We believe this supports our ongoing expectations of higher secular inflation in the coming years." Vice President Kamala Harris has entered the race following President Joe Biden's exit, going head to head with former President Donald Trump in the November election. The federal debt is now at $34.5 trillion , or about $11 trillion higher than where it stood in March 2020.

Persons: Greenlight Capital's David Einhorn, Einhorn, Kamala Harris, Joe Biden's, Donald Trump, Biden, — CNBC's Michael Bloom Organizations: U.S, Brighthouse, ODP Corporation, HP, Kyndryl Holdings, Consol Energy

☆ The US Navy is on its fourth aircraft carrier as its warships react to fighting in the Middle East
▼ + stars: | 2024-08-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewThe US Navy is sending another aircraft carrier to the Middle East. AdvertisementThe aircraft carrier USS Abraham Lincoln, right, follows the guided missile cruiser USS Cape St. George as the ships transit the Strait of Hormuz in May 2012. A carrier strike group consists of a carrier, its air wing, and other warships like destroyers and cruisers. The US also deployed the Dwight D. Eisenhower Carrier Strike Group to the Eastern Mediterranean as regional tensions flared. It then pivoted to the Middle East to defend merchant shipping lanes in the Red Sea and Gulf of Aden from Houthi attacks.

Persons: —, Abraham Lincoln, Israel, It's, Lincoln, George, Alex R, Forst, Gerald R, Dwight D, Eisenhower, Theodore Roosevelt Carrier, Roosevelt Organizations: Service, US Navy, Pentagon, Saturday, Abraham Lincoln Carrier Strike, Business, Hamas, Ford Carrier Strike Group, Israel, US, Eisenhower Carrier Strike Group, Ford, Eisenhower, AP, Theodore Roosevelt Carrier Strike, Lincoln, USNI, Fleet, Department of Defense, US Central Command, Command Locations: Israel, Iran, Tehran, Cape St, Hormuz, Gaza, Yemen, Lebanon, Iraq, Syria, Gulf, Aden, Persian, United States

☆ Safe-haven yen, Swiss franc soar as U.S. slowdown fears flare
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

Swiss Franc banknotes sit in the office of a bank in this arranged photograph in Zurich, Switzerland, on Friday, Nov. 20, 2015. The safe-haven Japanese yen and Swiss franc traded near multi-month highs against the dollar on Friday after an unexpected slump in U.S. manufacturing fuelled fears of a downturn, sending stocks and bond yields tumbling. The yen traded around 0.2% stronger at 149.085 per dollar, after popping as high as 148.51 overnight for the first time since mid-March. They were the only two major currencies to outperform the dollar overnight, which itself draws safe-haven flows, paradoxically even when the United States is the cause for concern. ECB policymaker Yannis Stournaras raised the risk of a weak euro zone economy sending inflation below the 2% target in an interview published on Thursday, reaffirming his expectation for two rate cuts this year.

Persons: Sterling, Tony Sycamore, Sycamore, BoE Governor Andrew Bailey, ECB policymaker Yannis Stournaras Organizations: Swiss, Bank of England, European Central Bank, Japan's Nikkei, IG, Federal Reserve, ECB policymaker Locations: Zurich, Switzerland, United States, Asia, U.S

☆ Rolls-Royce shares soar to all-time high on reinstated dividend, raised profit guidance
▼ + stars: | 2024-08-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Shares of Rolls-Royce jumped more than 11% to hit an all-time high on Thursday after the company reinstated its dividend and raised its profit forecast on the back of strong first-half results. That's up from the £1.7 billion to £2.0 billion forecast in its 2023 full-year results and ahead of market expectations. The firm, which supplies aviation giants Boeing and Airbus, also said it would resume dividends for full-year 2024, starting at a 30% pay-out ratio of underlying profit after tax. "These results and our increased financial resilience give us the confidence to raise our 2024 guidance and reinstate shareholder distributions in respect of the full year 2024 results," Erginbilgic added. Underlying operating profit was £1.15 billion, up from £673 million in the previous year.

Persons: Royce, Tufan Erginbilgic, Erginbilgic Organizations: Royce Trent, Airbus, Lufthansa Technik AG, Royce, London, Boeing Locations: British

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