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☆ Tesla delivery time is longer on some China models after discounts
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

The waiting time for orders of the rear-wheel-drive and long-range versions of Model Y was a week longer on Monday than it had been on Friday, Tesla's website showed. The wait time for all versions of the Model 3 and the performance version of the Model Y remained at one to four weeks as of Monday. A Tesla representative told Reuters on Saturday that the company has no plan to compensate those buyers for price cuts they had missed. Some of the buyers in China said they had been led to believe that the further discounts would not be coming. Comments on Chinese social media were largely negative toward the Tesla buyers who have protested, with many saying online they should have understood the terms of the contract.

Other rate-sensitive growth stocks like Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) gained about 1% each as U.S. Treasury yields declined. The gains pushed technology (.SPLRCT) to the top of the major S&P 500 sector indexes list. The S&P 500 growth index (.IGX) was up 3.6%, outperforming a 0.7% rise in its value peers (.IVX). Advancing issues outnumbered decliners for a 3.68-to-1 ratio on the NYSE and a 2.15-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and two new lows, while the Nasdaq recorded 95 new highs and 14 new lows.

☆ In Salesforce layoffs, MuleSoft is hardest hit as the company cuts the first 1,000 employees of its planned 10% workforce reduction
▼ + stars: | 2023-01-04 | by ( Ashley Stewart | Ellen Thomas | ) www.businessinsider.com time to read: +3 min

Salesforce plans to cut 10% of its workforce, co-CEO Marc Benioff told employees Wednesday. MuleSoft was the hardest hit by layoffs so far, which amount to around 1,000, insiders said. Salesforce has already laid off about 1,000 employees as part of a plan to slash 10% of its workforce, and the MuleSoft unit was the hardest hit so far, insiders said. A Salesforce spokesperson referred Insider to the email when asked for comment on the details of this report. Benioff has been stoking employees' fearsBeyond MuleSoft, Benioff stoked many Salesforce employees' fears in a recent all-hands when asked about the possibility of future layoffs and how the company planned to balance cost-saving with employee morale.

☆ Investors Brace for More Market Tumult as Interest Rates Keep Rising
▼ + stars: | 2023-01-02 | by ( Gunjan Banerji | ) www.wsj.com time to read: 1 min

More than $12 trillion in value was erased from the U.S. stock market last year. The stock market turned upside down last year when the Federal Reserve abandoned its easy-money policies. Many investors say the ramifications are just beginning to ripple through markets. The central bank has raised interest rates to the highest levels since 2007, stoking mammoth swings across global markets and a steep selloff in assets from stocks and bonds to cryptocurrencies. The tumult that erased more than $12 trillion in value from the U.S. stock market—the largest such drawdown since at least 2001—is expected to continue as rates keep rising.

☆ China Securities Regulator Cracks Down on Online Brokerages Futu and Up Fintech
▼ + stars: | 2022-12-30 | by ( Weilun Soon | ) www.wsj.com time to read: 1 min

Futu has been listed in the U.S. since 2019. SINGAPORE—China’s securities regulator said two Nasdaq-listed online brokers have allowed customers on the mainland to make cross-border trades, stoking concerns that Chinese authorities aren’t finished with their crackdowns on private-sector companies. The American depositary receipts of Up Fintech Holding Ltd., which is also known as Tiger Brokers, and Futu Holdings Ltd. tumbled more than 25% in U.S. premarket trading after the China Securities Regulatory Commission put out a statement Friday that named both companies.

☆ China Regulator Says Futu, Up Fintech Violated Laws
▼ + stars: | 2022-12-30 | by ( Weilun Soon | ) www.wsj.com time to read: 1 min

SINGAPORE—China’s securities regulator said two Nasdaq-listed online brokers violated its domestic laws by allowing customers on the mainland to make cross-border trades, stoking concerns that Chinese authorities aren’t finished with their crackdowns on private-sector companies. The American depositary receipts of Up Fintech Holding Ltd., which is also known as Tiger Brokers, and Futu Holdings Ltd. fell around 20% in Friday morning New York trading after the China Securities Regulatory Commission put out a statement that mentioned both companies.

The 2023 budget includes 4.47 trillion lira ($239 billion) in spending and sees a deficit of about 3.5% of GDP for this year and next. "The annual salary burden is likely to reach approximately 150-180 billion lira, whereas the severance pay burden that will be shouldered by both the public and private sectors may exceed 300 billion lira," he said. A total of 142.9 billion lira has been earmarked for 2023 spending in the farm sector on support programmes and investment payments. SOCIAL AID, OTHER SPENDING:Spending on social aid in the 2023 budget was raised to 258.4 billion lira. Spending on education will be 650 billion lira, while 145.4 billion lira was set aside for support to the real sector.

☆ Kremlin backs Serbia, denies Russia is stoking tensions in Kosovo
▼ + stars: | 2022-12-28 | by ( Guy Faulconbridge | ) www.reuters.com time to read: +2 min

MOSCOW, Dec 28 (Reuters) - The Kremlin on Wednesday said it supported Serbia's attempts to protect ethnic Serbs in northern Kosovo but denied Pristina's accusation that Russia was somehow stoking tensions in an attempt to sow chaos across the Balkans. Serbs in the ethnically divided city of Mitrovica in northern Kosovo erected new barricades on Tuesday, hours after Serbia said it had put its army on the highest combat alert following weeks of escalating tensions. Serbia denies it is trying to destabilise its neighbour and says it just wants to protect its minority there. Around 50,000 Serbs live in the northern part of Kosovo and refuse to recognise the Pristina government or the state. "Having very close allied relations, historical and spiritual relations with Serbia, Russia is very closely monitoring what is happening, how the rights of Serbs are respected and ensured," Peskov said.

☆ Idaho professor sues TikToker over allegations about killing of 4 university students
▼ + stars: | 2022-12-24 | by ( Tim Stelloh | Tim Stelloh Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

The suit, filed Wednesday in Idaho District Court by history department chair Rebecca Scofield, also accused TikTok user Ashley Guillard of falsely alleging that the professor had planned the killings with another University of Idaho student. The lawsuit appears to be the latest example of what one expert called “dangerous” speculation surrounding the quadruple homicide in Moscow, Idaho, on Nov. 13. According to the suit, Scofield, who began working at the university in 2016, never met the slain students, nor had they taken a class with her. “Professor Scofield has never met Guillard,” the suit says. Professor Scofield does know that she has been harmed by the false TikToks and false statements.”The suit adds that the allegations triggered significant emotional distress and damage to Scofield's reputation.

☆ Brexit has cracked Britain’s economic foundations
▼ + stars: | 2022-12-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

Brexit has erected trade barriers for UK businesses and foreign companies that used Britain as a European base. While Brexit isn’t the cause of Britain’s cost-of-living crisis, it has made the problem more difficult to solve. The Brexit deal, known as the Trade and Cooperation Agreement, came into effect on January 1, 2021. The deal is “the world’s largest zero tariff, zero quota free trade deal,” the spokesperson added. The Organization for Economic Cooperation and Development expects the UK economy to shrink by 0.4%, ahead only of sanctioned Russia.

WELLINGTON, Dec 23 (Reuters) - Fiji's Social Democratic Liberal Party (SODELPA) is due to meet on Friday to decide if its decision to form a coalition with the opposition stands, a move that comes after the Pacific country's military was called in to help police maintain law and order. Fiji is waiting for its president to recall parliament so lawmakers can vote for a new prime minister after a national election last week showed no party received a clear majority. SODELPA, a power-broker holding three seats in the hung parliament, supports policies favouring indigenous Fijians, and on Tuesday signed a coalition agreement with the People's Alliance and the National Federation Party. However, the SODELPA's board is to meet again on Friday, after the validity of the decision to back the coalition was challenged by the party's general secretary and Fiji's Supervisor of Elections. However, opposition parties accuse Bainimarama and his allies of stoking fears of ethnic trouble as a pretext to cling to power.

☆ Undercounted Deaths Cloud China’s Zero-Covid Exit
▼ + stars: | 2022-12-21 | by ( Liyan Qi | Cao Li | ) www.wsj.com time to read: 1 min

China has reported just a handful of Covid-19 deaths as a wave of Omicron infections has swept the country’s biggest cities, stoking suspicion among public-health experts and relatives of deceased patients that the government isn’t accurately accounting for the impact of the virus. Despite widespread reports of soaring infections, crowded hospitals and overwhelmed crematoria, Chinese health authorities had by Tuesday reported only seven Covid-related deaths since the country abruptly eased many of its pandemic-control measures more than two weeks ago. Two deaths were reported in Beijing on Monday and five the following day.

☆ Nike shares surge as inventory challenges start to abate, demand stays strong
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

At least 12 brokerages raised their price targets on the stock after Nike reported better-than-expected quarterly results on Tuesday, benefiting from higher discounts and strong demand in North America. While Nike's quarterly inventory declined about 3% from the prior quarter, margins fell 300 basis points due to higher promotions and discounts. Still, the decline was smaller than expected, according to analysts, thanks also to higher-priced product launches such as the LeBron 20s and Nike Mercurial shoes. "Nike offered promotions, but at the same time, they also pushed for new product without the promotion," said Jane Hali & Associates analyst Jessica Ramirez. Reporting by Aishwarya Venugopal and Deborah Sophia; Additional reporting Ananya Mariam Rajesh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Japan set to keep ultra-low rates but doubts over yield cap grow
▼ + stars: | 2022-12-19 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The BOJ's decision would contrast with last week's interest rate hikes by its U.S. and European counterparts aimed at countering persistent price pressures. At a two-day policy meeting ending on Tuesday, the BOJ is widely expected to keep unchanged its yield curve control (YCC) targets set at -0.1% for short-term interest rates and around zero for the 10-year bond yield. Markets are rife with speculation the BOJ will tweak its yield cap and allow long-term interest rates to rise more when a new central bank governor takes the helm. "When prices start rising, it's very hard to maintain YCC," he said, pointing out the chance of a hike to the 10-year yield target next year. Sources have told Reuters that debate over how to remove the BOJ's yield cap could gather pace next year, provided wages perk up and major economic risks remain contained.

☆ 'What a tragic day': British nurses strike in bitter pay dispute
▼ + stars: | 2022-12-15 | by ( Farouq Suleiman | ) www.reuters.com time to read: +4 min

[1/6] NHS nurses take part in a strike, during a dispute with the government over pay, outside St Thomas' Hospital in London, Britain December 15, 2022. An estimated 100,000 nurses will strike at 76 hospitals and health centres, cancelling an estimated 70,000 appointments, procedures and surgeries in Britain's state-funded NHS. "What a tragic day. This is a tragic day for nursing, it is a tragic day for patients, patients in hospitals like this, and it is a tragic day for people of this society and for our NHS," Pat Cullen, the head of the Royal College of Nursing (RCN) union, said to the BBC on a picket line on Thursday. Polling ahead of the nursing strike showed that a majority of Britons support the action, but once the walk-outs are underway politicians will be closely monitoring public opinion.

☆ Dollar rises as inflation pressures persist; FOMC meeting in focus
▼ + stars: | 2022-12-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Traders were also kept on edge in the run up to key risk events this week, including a slew of major central bank meetings. The Bank of England and the European Central Bank (ECB) also meet this week, and are likewise expected to each deliver a 50 bp rate hike. Elsewhere, the dollar rose 0.12% against the Japanese yen to 136.73, and against a basket of currencies, the U.S. dollar index eked out a 0.04% gain at 105.09. Ahead of the FOMC meeting, November's U.S. inflation figures are due on Tuesday, with economists expecting core inflation to rise 6.1% year-on-year. "The market reaction to U.S. inflation surprises has been asymmetric so far in 2022, with downside surprises having a larger effect than upside ones," said analysts at Barclays.

☆ A tense all-hands meeting at Google leaves employees worried about layoffs
▼ + stars: | 2022-12-12 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +5 min

Oh, and Insider released its inaugural Cloudverse list of the 100 top leaders building the next generation of the Internet. Insider's Hugh Langley reports on a tense all-hands inside Google, where employees once again pushed CEO Sundar Pichai to comment on the possibility of layoffs. Google employees have been worried about layoffs for a while, especially while pretty much all of the search giant's peers in Big Tech have cut jobs in recent weeks and months. Notably, employees used the all-hands to raise concerns over a new performance tool named GRAD. Swapping Big Tech for climate tech.

☆ Kosovo calls for NATO intervention after weekend of violence amid rising ethnic tensions
▼ + stars: | 2022-12-12 | by ( Niamh Kennedy Cnn Reuters | Niamh Kennedy | ) edition.cnn.com time to read: +3 min

CNN —Kosovo’s Prime Minister urged NATO peacekeeping troops to intervene after minority Serb protesters blocked roads and unknown gunmen exchanged fire with police over the weekend amid rising ethnic tensions in the country’s restive north. In recent weeks, minority Serbs in northern Kosovo have responded with violent resistance to moves by Pristina that they see as anti-Serb. On Sunday, Vucic said Serbia demanded the release of all arrested Serbs from northern Kosovo, but also seeks to defuse tensions in the region. Vucic accused authorities in Pristina and Kosovo’s Prime Minister Kurti of stoking tensions by making “countless unilateral moves.”“Whenever one would think we have something solved, another problem emerges,” Vucic said. “Kosovo police has nothing to do in the north…especially people armed…up to their teeth,” Vucic said.

☆ Elon Musk suggests Dr. Fauci should be prosecuted and mocks gender pronouns in controversial tweet — the latest in a series of statements fueling right-wing viewpoints
▼ + stars: | 2022-12-11 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Elon Musk suggested that Dr. Anthony Fauci should be prosecuted in a tweet posted on Sunday. The tweet is the latest in a series of posts supporting right-wing efforts and conspiracies in recent months. "My pronouns are Prosecute/Fauci," Musk wrote on Sunday in a now-viral tweet that has generated significant backlash. The tweet is the latest of several recent quips from Musk empowering right-wing viewpoints and conspiracies. "I absolutely support trans, but all these pronouns are an esthetic nightmare," Musk wrote at the time.

☆ Serbia's president says Belgrade seeks to deescalate situation in Kosovo
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +2 min

BELGRADE, Dec 11 (Reuters) - Serbia demands the release of all arrested Serbs from northern Kosovo, but also seeks to defuse tensions there following tensions in the restive region, President Aleksandar Vucic said on Sunday. After a meeting of the National Security Council, Vucic said Kosovo Serbs must not engage in violence against NATO troops and members of the European Union mission there. Asked whether Belgrade would seek to de-escalate the situation in northern Kosovo, he replied: "Absolutely." Serb protesters in northern Kosovo blocked main roads on Saturday after the arrest of a former Serb policeman. Kosovo declared independence from Serbia in 2008, following the 1998-99 war in which NATO intervened to protect Albanian majority Kosovo.

☆ Abalone and Dugongs threatened with extinction, warns IUCN Red List
▼ + stars: | 2022-12-10 | by ( ) edition.cnn.com time to read: +3 min

CNN —The effects of human activity from climate change to pollution are “devastating” marine life, with nearly a tenth of underwater plants and animals assessed so far threatened with extinction, the latest Red List of Threatened Species showed on Friday. “It shows that we are having quite a devastating impact on marine species,” Craig Hilton-Taylor, head of the IUCN Red List, said. Linda Lombardi/AP/FILEHilton-Taylor said the portion of marine species facing extinction was likely much higher than current data shows because those analyzed so far have tended to be widespread fish species, not currently under threat. The latest list reviews abalone species, a type of mollusc sold as a luxury seafood item, for the first time and found that around 44% of them face extinction. “The awful status of these species should shock us and engage us for urgent action,” said Amanda Vincent, chair of the IUCN Species Survival Commission Marine Conservation Committee.

☆ EU at odds over gas price cap as 12 countries criticise latest proposal
▼ + stars: | 2022-12-10 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

EU countries are holding emergency negotiations on Saturday as they attempt to line up a deal to cap gas prices at a Dec. 13 meeting of their energy ministers - but states remain split over the plan. Twelve of the EU's 27 member states have circulated a paper demanding that the price cap be "significantly" lower than the latest compromise being negotiated by countries. EU countries have wrangled for months over whether to cap gas prices, but have so far failed to bridge the gap between their divergent views. Gas prices in Europe have soared this year after Russia slashed gas deliveries following its invasion of Ukraine, pushing up fuel costs and stoking inflation. That is lower than the 275 eur/MWh limit proposed by the |European Commission, but the 12 countries said it was still not low enough.

☆ Nearly 10% of marine life threatened with extinction -Red List
▼ + stars: | 2022-12-09 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

Summary IUCN releases biodiversity barometer during U.N. talksClimate change, pollution 'devastating' marine speciesDugongs number in just the hundreds in some regionsGENEVA, Dec 9 (Reuters) - The effects of human activity from climate change to pollution are "devastating" marine life, with nearly a tenth of underwater plants and animals assessed so far threatened with extinction, the latest Red List of Threatened Species showed on Friday. "It shows that we are having quite a devastating impact on marine species," Craig Hilton-Taylor, head of the IUCN Red List, told Reuters. Hilton-Taylor said the portion of marine species facing extinction was likely much higher than current data shows because those analysed so far have tended to be widespread fish species, not currently under threat. The latest list reviews abalone species, a type of mollusc sold as a luxury seafood item, for the first time and found that around 44% of them face extinction. "The awful status of these species should shock us and engage us for urgent action," said Amanda Vincent, chair of the IUCN Species Survival Commission Marine Conservation Committee.

☆ Morning Bid: Powerless
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Treasury yields are up, the dollar is standing firm after its biggest rally in two weeks and risk-off sentiment is holding sway. For the euro zone, however, there is little in the way of good news. Industrial orders data from Germany, the biggest economy in the euro zone, is the only economic indicator worth watching on Tuesday. Chairman Axel Lehmann told media the embattled bank is "definitely stable" and has seen a stabilisation in client funds outflows.

☆ The 'Powell pump' pushing the recent rally in the S&P 500 is over, and stocks may have further to fall as Fed moves and a looming recession keep investors away
▼ + stars: | 2022-12-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

The "Powell pump has been erased," and the S&P 500 has lost gains made over the week after Fed Chair Jerome Powell spoke, a City Index analyst said. It "remains to be seen ... whether the bulls will step in once again at these levels," wrote analyst Fawad Razaqzada. "So, the Powell pump has been erased," Fawad Razaqzada, market analyst at City Index, wrote in a Tuesday note about the index's technical levels. Stock market bears so far this week have "successfully defended" the key 4,077 resistance level, he said. The fed funds rate is at a range of 3.75% to 4% after six rate increases in 2022.

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