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☆ About 40% of the world's population is now on Facebook — but most of the new users came from outside the US and Canada
▼ + stars: | 2023-07-27 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Facebook now has 3 billion monthly users, but most of the growth came from outside the US and Canada. And while the app's monthly users have more-or-less increased quarter on quarter, there were panic signals when Facebook's daily active users shrank for the first time in the app's history in the last quarter of 2021. Facebook's monthly active users in the US and Canada increased by only around one million, while it actually dropped by two million in Europe, per the company's earnings presentation. The largest increase in Facebook users came from the Asia-Pacific region and the rest of the world, at around 25 and 16 million monthly active users, respectively. The app amassed over 100 million users within its first five days.

Persons: That's, it's, —, Meta, Insider's Jyoti Mann Organizations: Facebook, Meta, Twitter, Bloomberg Locations: Canada, Europe, Asia, Pacific

☆ South Africa nearing end of daily power cuts, minister says
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

Summary Electricity minister said summer could see no blackoutsCountry's power generation almost meeting demand, he saidWorst scenario of peak winter demand has not materialisedJOHANNESBURG, July 2 (Reuters) - South Africa's electricity minister said on Sunday the country was closer to ending daily power cuts as warmer weather returns towards the end of the year, but declined to give a specific date. South Africa is on course to see its most blackout days in history this year with daily power cuts extending to almost 10 hours a day, affecting businesses and households in an economy already hobbled by high interest rates and inflation. The power cuts, called loadshedding locally, is expected to shave off 2 percentage points from GDP this year, the central bank said last month. The capacity available is plateauing around 29,000 MW, giving enough room to bring the power cuts down to Stage 3, where 3,000 MW are taken off the grid, leading to between two and fours hours of daily power cuts, the minister added. South Africa implements power cuts in stages from one to eight with eight being the highest and translating into over 10 hours of daily power cuts.

Persons: Kgosientsho Ramokgopa, Ramokgopa, Promit Mukherjee, Alison Williams Organizations: Electricity, Thomson Locations: JOHANNESBURG, South Africa

☆ Fed's Bostic says rates will probably rise if inflation moves from target
▼ + stars: | 2023-06-29 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

DUBLIN, June 29 (Reuters) - The Federal Reserve will have to increase rates if prices growth moves away from target or inflation expectations start to move in "a difficult way", Atlanta Federal Reserve President Raphael Bostic said, while adding that neither was happening right now. Earlier this month, the Fed refrained from boosting its federal funds target rate for the first time since it started raising rates in March 2022, leaving it at between 5% and 5.25%. Bostic said there are undoubtedly scenarios where that could happen, but they are unlikley. The U.S unemployment rate has crept up to 3.7% but is lower than the 4% rate Fed policymakers estimate is consistent with a fully employed American workforce. Reporting by Padraic Halpin Editing by Mark Potter and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Raphael Bostic, Jerome Powell, Bostic, we'll, Powell, Padraic Halpin, Mark Potter, Chizu Organizations: DUBLIN, Federal, Atlanta Federal Reserve, Irish Association of Investment, Thomson Locations: Atlanta

☆ Eli Lilly's weight loss drugs trounce sky-high expectations, boosting the stock
▼ + stars: | 2023-06-27 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

What's more, some showed no signs their weight loss was leveling off, suggesting they could continue to shed pounds. (Both use semaglutide, but Ozempic is marketed as a type 2 diabetes treatment, while Wegovy is primarily for weight loss.) Bank of America's Geoff Meacham said retatrutide "exceeded expectations" for weight loss. "This is important, as while the overall 22.4% weight loss was impressive, looking at men and women separately, weight loss was 21.9% and 28.5%, respectively, with the slope in females not yet plateauing. Schott also described the weight loss as "impressive" and said it will likely compare favorably with Novo's next-generation drug CagriSema, which is expected to show weight loss of more than 25% when it releases its next update.

Persons: Eli Lilly, What's, Lilly, Lilly's, Carter Gould, Gould, orforglipron, Bank of America's Geoff Meacham, retatrutide, Meacham, Chris Schott, Schott, Novo's, Evan David Seigerman, Seigerman, Morgan Stanley, Terence Flynn, — CNBC's Michael Bloom Organizations: American Diabetes Association, Wall, Novo Nordisk, Barclays, Bank of America's, JPMorgan, Lilly, BMO Capital, Indianapolis, ~$ Locations: Novo

☆ Atmospheric CO2 now 50% higher than pre-industrial level -NOAA
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

Measurements are taken in May because it is the month when CO2 peaks in the Northern Hemisphere. The outpost on Mauna Loa has measured atmospheric CO2 since 1958, when the level was less than 320 ppm, and shown a steady increase since then in what NOAA Administrator Rick Spinrad called "a direct result of human activity." NOAA began collaborating with Scripps on the measurements in 1974. This year's measurements were taken from a temporary site because lava flows cut off access to the Mauna Loa observatory in November 2022, NOAA said. (This story has been corrected to change NOAA's previously reported figure as 424 ppm and not 423 ppm, in paragraph 2.

Persons: Rick Spinrad, David Keeling, Keeling's, geochemist Ralph Keeling, Keeling, Daniel Trotta, Marguerita Choy Organizations: U.S . National Oceanic, Atmospheric Administration, Scripps Institute of Oceanography, Scripps, Northern Hemisphere, NOAA, Thomson Locations: Mauna Loa, Loa

☆ US consumer spending flattens; core inflation still hot
▼ + stars: | 2023-04-28 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The unchanged reading in consumer spending last month, reported by the Commerce Department, followed a downwardly revised 0.1% gain in February. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, was previously reported to have increased 0.2% in February. Last month's flat reading in consumer spending set consumption and the overall economy on a lower growth path in the second quarter. Consumer spending is plateauing likely as Americans become more averse to higher prices. The so-called core PCE price index gained 4.6% on a year-on-year basis in March after rising 4.7% in February.

☆ Meta is recovering from Apple's privacy changes, Wall Street expects a return to major business growth
▼ + stars: | 2023-04-14 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Meta has struggled since last year to rebound from "ad signal loss" due to Apple's privacy changes. It's expected to be a boon to revenue growth, while major layoffs and cost-cutting continue. "When times are tough, marketers revert to the tried-and-true channels – namely Google and Meta," Evercore said. In the fourth quarter of 2022, Meta's ad impressions increased by 23% compared to the previous year. Evercore, however, anticipates a swift "return to double digit revenue growth" – something the company hasn't seen since the fourth quarter of 2021.

☆ US first-quarter auto sales set to rise on better inventory
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

But rising interest rates and fears of a recession may play spoilsport in an industry where most vehicle purchases are financed with loans, analysts say. "Consumers are facing credit uncertainty as rapidly rising interest rates have created barriers to entry for even the most qualified buyers," said Jessica Caldwell, executive director of insights at auto research firm Edmunds. The automaker is set to post a 15% rise in first-quarter U.S. sales, while Japanese rival Toyota Motor Corp's (7203.T) sales are likely to fall nearly 10%, when they publish data beginning Monday, according to consultant Cox Automotive. Toyota has continued to struggle with inventory shortages sparked by supply constraints, losing its crown as the top selling U.S. automaker to GM. Trucks and crossover SUVs are expected to account for majority of new retail sales in the quarter, according to automotive data company J.D.

☆ Workers’ Pay Globally Hasn’t Kept Up With Inflation
▼ + stars: | 2023-02-19 | by ( Tom Fairless | ) www.wsj.com time to read: +1 min

Workers often don’t claw back losses in purchasing power during periods of high inflation . Wage growth across advanced economies is plateauing or declining from high levels. For central banks, it is good news: There are no signs of a spiral in which wages push up prices, which push up wages again. Workers’ purchasing power—their average inflation-adjusted wage—was lower last year than in 2019, before the pandemic, according to the report. So despite strong demand for workers and ultralow unemployment, labor’s share of economic output shrank in many advanced economies.

☆ Professor who predicted the 'great resignation' says quits will plateau in 2023—here's why
▼ + stars: | 2023-02-01 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

The "great resignation" will soon grind to a halt. Klotz coined the "great resignation" in May 2021 to describe the sudden wave of people quitting their jobs due to the Covid-19 pandemic, which led many to re-think where, how and why we work. Companies are improving employee retentionTo attract talent in a perennially tight labor market, many employers have introduced flexible work arrangements, increased wages or revamped their benefits. The ripple effects of the "great resignation" prompted more companies to prioritize existing employees' well-being, whether it's through enhanced mental health resources or transitioning to a permanent hybrid model. In 2023, Klotz says he expects employers to double down on their efforts to attract and retain talent.

☆ Cramer's investment strategy for 2023 is a Fed-driven tale of two halves
▼ + stars: | 2022-12-15 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

We will also begin to rethink those names in our portfolio that benefit from higher levels of inflation. The first half will be good for those names that benefit from inflation such as consumer staples, health care and energy stocks. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) 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.

☆ Recession drumbeat gets louder as more U.S. CEOs strike mellow note for 2023
▼ + stars: | 2022-12-09 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

A Reuters poll of economists published on Thursday showed that U.S. economic growth was expected to slow to 0.3% in 2023 following a 1.9% rise this year. Tesla Inc CEO Elon Musk said in October a recession would last until the spring of 2024. For 2023, analysts expect profit growth at S&P 500 companies to slow to 4.9%, after rising 5.8% in 2022, according to Refinitiv IBES data. While forecasts for the size and timing of recession vary, expectations for an economic recovery largely hinge on the Fed's stance on rates. S&P 500 performance YTDReporting by Medha Singh and Johann Cherian in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Here's what America's top CEOs are saying about a possible recession in 2023
▼ + stars: | 2022-12-06 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +5 min

Mandel Ngan | AFP | Getty ImagesAs 2023 approaches and the prospect of a recession looms, corporate America is preparing for a slowdown in consumer spending. Here's what they said:Jamie Dimon, JPMorganwatch nowRising interest rates, record inflation, geopolitical pressure and other factors could coalesce into a recession, JPMorgan Chase CEO Jamie Dimon told CNBC. Mary Barra, GMwatch nowGeneral Motors CEO Mary Barra anticipates economic headwinds next year but is not sounding the alarms for a recession just yet. Though Walmart is still seeing strong spending, McMillon has spotted more conservative spending in certain categories like electronics and toys. "If I didn't watch CNBC in the morning – which I do – the word recession wouldn't be in my vocabulary," Kirby said.

☆ Winners and Losers of Advertising During an Economic Downturn
▼ + stars: | 2022-12-05 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

Executives from three of the largest ad agencies — Magna Global, GroupM, and Zenith — spoke at UBS' Global TMT Conference about how the ad industry will shake out next year. Kate Scott-Dawkins, global director of business intelligence at GroupM, said that retail media was the fastest-growing area within digital advertising this year. It upped its retail media forecast to $110 billion this year, up from $100 billion in September. Streaming TV is also starting to compensate for dips in linear TV ad spending. TV advertising will dip because it lacks annual commitments from advertisers, causing ad prices to come down to pre-covid levels.

☆ JPMorgan says these two retailers are its favorite picks into the holiday season
▼ + stars: | 2022-11-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Costco and Target should emerge victorious as retailers navigate another tricky macro environment this holiday season, JPMorgan says. While the season will pale in comparison to 2021, Horvers anticipates a solid holiday period based on historical standards. Along with Target and Costco, JPMorgan views names like Ulta Beauty and food-focused companies including Walmart and BJ's Wholesale as other holiday-season winners. Auto parts dealers also make a solid defensive trade, Horvers wrote. Among the biggest losers this season, JPMorgan sees headwinds ahead for names like Best Buy , Bed Bath & Beyond and Wayfair .

☆ Is the Fed 'going rogue'? Calls heat up to back off quest for 2% inflation
▼ + stars: | 2022-11-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

For at least a decade, the Federal Reserve's position that a 2% inflation rate is where the economy best functions has been taken as gospel. 'Going rogue' "As far as 2% is concerned, I think it's stupid," said Jim Paulsen, chief investment officer at Leuthold Group. Paulsen and Sternlicht aren't the only critics of Fed policy. Achieving a steady 2% inflation rate, however, has proven elusive for the Fed. 'The gold standard' for policy But Fed Chairman Jerome Powell and most of his colleagues have rebuffed calls to raise the goal.

☆ Fed's Kashkari: not stopping rate hikes until inflation peaks
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - It's hard to know how high the U.S. central bank will need to raise interest rates, Minneapolis Federal Reserve Bank President Neel Kashkari said on Thursday, but it should not stop until it's clear that inflation has peaked. "I need to be convinced that inflation has at least stopped climbing, that we're not falling further behind the curve, before I would advocate stopping the progression of future rate hikes," he told the Minnesota Chamber of Commerce in an event webcast by the regional Fed bank. The Fed has raised rates aggressively this year, and Kashkari reminded his audience Thursday that the full effects of those rate hikes could take a year before they are felt economy-wide. "It's an open question of how far we are going to have to go with interest rates to bring that demand down in the balance," he said. Reporting by Ann Saphir; Editing by Mark Porter and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Outgoing Charter CEO Tom Rutledge says in an exclusive CNBC interview that there's 'pain to come' as linear TV gives way to streaming
▼ + stars: | 2022-11-03 | by ( Alex Sherman | ) www.cnbc.com time to read: +33 min

The biggest cable company in the industry at that time had about a million customers. And the second question is, very much related to that, for years now, the bull investor thesis has been broadband growth. So does that mean that broadband growth is no longer the big growth story it once was? No, I think there's plenty of broadband growth to get for us and there's continued broadband adoption to get for the whole industry. And I think there's some value in scale which can translate into consumer value as well.

☆ OPEC expected to stick to view of long-term oil demand rise
▼ + stars: | 2022-10-28 | by ( Alex Lawler | ) www.reuters.com time to read: +4 min

The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts in its 2022 World Oil Outlook on Oct. 31. The 2021 version sees oil demand plateauing after 2035. The latest update is likely to keep OPEC among the more optimistic forecasters of oil demand. OPEC World Oil Outlook 2021"It is similar to last year in terms of the demand outlook," one of the OPEC sources said. LOWER PROJECTIONSLast year, OPEC saw oil demand reaching 108.2 million barrels per day in 2045, up from 90.6 million bpd in 2020.

☆ Amazon Prime Day 2022: What we know about the October sales event
▼ + stars: | 2022-09-26 | by ( Zoe Malin | Zoe Malin Is The Associate Updates Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +15 min

This is the first time Amazon is hosting Prime Day twice in one year, but it’s not the first time Prime Day has been scheduled for October. Because you know another one will be around the corner soon enough.”Do I need a Prime membership to get Amazon Prime Day discounts? July 2022 Prime Day bestsellersEvery year, Amazon announces bestselling Prime Day products worldwide as well as in select countries. One of the biggest differences between July’s Prime Day and October’s Prime Day is consumer mindset. One of the biggest differences between July’s Prime Day and October’s Prime Day is consumer mindset.

☆ YouTubers are pushing dodgy crypto investment advice. Here’s why you should ignore it.
▼ + stars: | 2022-09-26 | by ( Rob Price | Meghan Morris | ) www.businessinsider.com time to read: +15 min

Together, these revenue streams mean cryptocurrency influencers profit off their viewers no matter which way the market turns. Of course, crypto YouTube is a far cry from the regulated world of traditional finance. Armstrong told the Post that he made "maybe close to a million" from before dropping sponsored content in January 2022. A price list leaked by ZachXBT appears to show that dozens of small crypto influencers also have menus for similar undisclosed deals. But with little regulatory oversight, crypto influencers show little sign of slowing down — despite the precipitous decline of the crypto market.

☆ Mizuho downgrades Block, says bitcoin fixation causing company to lose ground on core business
▼ + stars: | 2022-09-22 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Block has enormous potential in payments that it's not cashing in, according to Mizuho. The firm downgraded shares of the company to neutral from buy and slashed its price target to $57 from $125. Bitcoin accounted for less than 5% of gross profits in the first half of 2022, according to the note. Cash app is seeing lower growth due to over-saturation in low-income households, lower penetration in key age groups, slowing adds despite doubling user acquisition costs and lower monetization. Afterpay is also seeing slowing credit volumes, a worrisome trend that also led Mizuho to cut its gross profit expectations by 20% for the segment.

☆ Here are Thursday's biggest analyst calls: Amazon, Eli Lilly, Bed Bath & Beyond, Nike, Exxon & more
▼ + stars: | 2022-09-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Thursday: UBS upgrades Eli Lilly to buy from neutral UBS says it's bullish on the company's weight loss drug and sees upside potential. Morgan Stanley reiterates Amazon as overweight Morgan Stanley says the company's fulfillment network is the next great catalyst for Amazon shares. "The cybersecurity industry comprises what we see as five main pillars: identity, endpoint security, data security, network security, and cloud security. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley says it sees an attractive risk/reward after meeting with company management. Morgan Stanley reiterates Meta as overweight Morgan Stanley says that reports of Meta cutting costs could prove to be an earnings tailwind.

☆ Bank of England set for second hefty rate rise in a row
▼ + stars: | 2022-09-21 | by ( David Milliken | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterThe BoE's half-point increase in rates last month was its biggest since 1995. The BoE was the first major central bank to raise rates in the current cycle, beginning in December last year. This, in turn, could prompt the BoE to raise rates more than previously thought over the coming year, despite what will still be a big squeeze on living standards from high inflation. Interest rate futures late on Wednesday showed BoE rates reaching 3.75% in December and plateauing at 4.75% from March. The BoE also decided to delay by a week its policy announcement, which had been due out on Sept. 15.

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