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☆ $1.1 Million Homes in Connecticut, Virginia and Idaho
▼ + stars: | 2023-08-30 | by ( Angela Serratore | ) www.nytimes.com time to read: +1 min

Its proximity to the center of town puts it within walking distance of restaurants and shops. The high-end Mayflower Inn & Spa is less than half a mile away. Driving to the Berkshires, in Massachusetts, takes about 90 minutes, as does driving to the Hudson Valley, in New York. To the left is a living room with a fireplace, built-in bookshelves and windows looking out onto the front lawn. Off this space is a cozy home office with more built-ins.

Persons: Frederick Gunn Organizations: Yale Locations: Conn, Hartford and New Haven, Massachusetts, Hudson, New York, Manhattan

☆ South Korea's Doosan Robotics opens books for $318 mln IPO
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Aug 28 (Reuters) - South Korea's Doosan Robotics Inc has opened the books on an up to $318 million initial public offering, according to a company filing. Through the IPO, the company is seeking to raise up to 421.2 billion won ($318.3 million), with its market capitalisation expected to be up to 1.69 trillion won. The international bookbuilding will run from Aug. 28 to Sept. 15, while the domestic book will be open Sept. 11-15, Doosan Robotics' regulatory filing said. The company received approval for the IPO from the Korean bourse earlier this month. ($1 = 1,323.2200 won)Reporting by Ju-min Park; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: 1,323.2200, Stephen Coates Organizations: Korea's Doosan Robotics Inc, Doosan Robotics, underwriters, Korea Investment & Securities, Mirae Asset Securities, bourse, Thomson Locations: SEOUL, Korean

☆ Heineken sells Russian business for $1 as it completes exit
▼ + stars: | 2023-08-25 | by ( Niamh Kennedy | ) edition.cnn.com time to read: +2 min

London CNN —Heineken has announced its departure from Russia following the sale of its business in the country for a symbolic €1 ($1). The brewer expects to incur a total loss of €300 million ($323 million) from the deal. But over the past 18 months, the Kremlin has made it increasingly difficult for Western firms to sell their Russian assets. In March, Heineken said it had decided to “do everything possible” to avoid its Russian business being nationalized, while leaving the country “as quickly as possible.”“First, we don’t think the Russian state or the people closest to it would have the best interests of our people at heart. Second, we were uncomfortable that the Russian state should benefit from forced appropriation of major business assets,” it said in a statement.

Persons: London CNN —, Dolf van den Brink, ”, — Olesya Dmitracova Organizations: London CNN, London CNN — Heineken, Arnest Group, Heineken, Arnest Locations: Russia, Russian, Moscow, Ukraine

☆ Phillies' Aaron Nola hopes for run support vs. Blue Jays
▼ + stars: | 2023-08-16 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

August 16 - Aaron Nola will try to beat the Toronto Blue Jays for the second time this season Wednesday night and allow the visiting Philadelphia Phillies to split the two-game set. Johan Rojas provided the Phillies' run with an RBI double in the sixth. The Blue Jays completed a run of 17 games in 17 days on Sunday and had Monday off. The Blue Jays optioned right-hander Nate Pearson to Buffalo to make room for Romano on the roster. Blue Jays third baseman Matt Chapman (inflamed finger) did not play for the second straight game.

Persons: Aaron Nola, Rob Thomson, we've, Alec Bohm, Trea Turner, Johan Rojas, Seranthony Dominguez, Thomson, Kevin Gausman, John Schneider, Bo Bichette, Schneider, Daulton Varsho, Varsho, That's, Kevin Kiermaier, Jordan Romano, Nate Pearson, Romano, Matt Chapman Organizations: Toronto Blue Jays, Philadelphia Phillies, Blue Jays, Phillies, Toronto, Cavan Biggio, Triple, Thomson Locations: Philadelphia, Nola, Toronto, Buffalo

The Berlin-based company expects total segment revenue to grow around 15% this year, compared with its previous guidance for growth of around 10% in constant currency terms. The company confirmed its outlook for adjusted core profit (EBITDA) margin on gross merchandise value (GMV) of over 0.5% for the year. Revenue rose 16% in constant currency to 2.58 billion euros in the second quarter, slightly above a consensus estimate of 2.50 billion euros. Overall GMV increased 8% in constant currency to 11.08 billion euros in the quarter, exceeding analysts' estimate of 10.96 billion euros. The group's Asia segment, including its core market South Korea, returned to positive GMV growth of 2% in constant currency.

Persons: Emmanuel Thomassin, Niklas Oestberg, Linda Pasquini, Anna Mackenzie, Himani Sarkar, Conor Humphries, Jonathan Oatis Organizations: Thomson Locations: Asia, Berlin, South Korea, Vietnam, Thailand, Korea, Gdansk

For investors looking to weed out climate laggards from portfolios, these are vital questions but existing guidelines on emissions reporting and new rules due to come in for the United States and Europe are unlikely to provide hard answers. The United States is on track to announce similar rules this year and the corporate standard, first launched in 2001 and revised in 2004, is also embedded in other international emissions reporting standards. Nonetheless, many investors scrutinise carbon emissions data to gauge how polluting a company is, how it compares with rivals and how this might affect its bottom line and share price. Another area of investor concern is how companies account for their own energy use, or Scope 2 emissions. The GHGP allows companies to buy green energy to offset their emissions, using contractual instruments such as renewable energy certificates, and reflect this in their reporting.

Persons: Fabrizio Bensch, Vanessa Bingle, David Lubin, Subaru, SCA's Lubin, Laura Kane, Kane, Jimmy Jia, Jia, abrdn, Pedro Faria, Faria, Pankaj Bhatia, Douglas Gillison, Sumanta Sen, Dan Flynn, David Clarke Organizations: REUTERS, Toyota, Shell, Greenhouse, World Business, Sustainable Development, World Resources Institute, Reuters, Alpha Financial Markets Consulting, Analytics, Subaru, North, Voya Investment Management, Voya, EU, Sustainability, IFRS, Oxford Smith School of Enterprise, Reuters Graphics, U.S . Securities, Exchange, Thomson Locations: Berlin, Germany, United States, Europe, Japan, North America, U.S, Britain, British, EU

☆ SiriusXM tops quarterly revenue estimates on strong radio demand from auto tie-ups
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - SiriusXM (SIRI.O) topped market estimates for quarterly revenue on Tuesday as the radio company's tie-ups with automakers helped draw users to its audio product services while on the road. The company also partnered with Volvo (VOLCARb.ST) in the quarter to continue to be the standard across the automaker's vehicle lineup. The audio entertainment company reported second-quarter revenue of $2.25 billion, beating estimates of $2.24 billion, according to Refinitiv data. After reporting better-than-expected free cash flow of $323 million in the quarter, the company also raised its expectation for the full year. It now expects annual free cash flow to be around $1.5 billion, compared with $1.1 billion it had previously expected.

Persons: SiriusXM, Samrhitha, Shweta Agarwal Organizations: Volvo, Spotify, YouTube, Thomson Locations: Bengaluru

☆ Lincoln National's CRE exposure targeted by two hedge funds
▼ + stars: | 2023-07-28 | by ( Carolina Mandl | ) www.reuters.com time to read: +4 min

NEW YORK, July 28 (Reuters) - Two hedge funds have placed bets that bonds issued by life insurance company Lincoln National Corp (LNC.N) will fall or that its default risk will increase, due to their concerns about the company's commercial real estate (CRE) exposure. Lincoln declined to provide comments on the hedge funds' positions and referred to previous remarks by its management. Fitch Ratings' senior director Jamie Tucker said in an email to Reuters the agency considers Lincoln's CRE exposure modestly below-average compared with the industry, while the quality is materially stronger. In April, Boaz Weinstein, founder of New York-based Saba, said in a post the firm was holding some of Lincoln's credit default swap (CDS), and had already sold some of it. loadingLincoln's CDS spread, a measure of credit risk, is 238 basis points, compared with 323 when Saba disclosed the position, meaning the perceived risk has declined.

Persons: Ellen Cooper, David Meneret, Lincoln, Fitch, Moody's, Jamie Tucker, Boaz Weinstein, Saba, Tracy Benguigui, Carolina Mandl, Megan Davies, Anna Driver Organizations: YORK, Lincoln National Corp, Saba Capital, Moody's, Reuters, New, CDS, Partners, Citizens Inc, Barclays, LNC, Thomson Locations: CRE, Hill, Lincoln, Saba, New York

☆ Lincoln National's commercial real-estate exposure targeted by two hedge funds
▼ + stars: | 2023-07-28 | by ( Carolina Mandl | ) www.reuters.com time to read: +4 min

Lincoln declined to provide comments on the hedge funds' positions and referred to previous remarks by its management. Fitch Ratings' senior director Jamie Tucker said in an email to Reuters the agency considers Lincoln's CRE exposure modestly below-average compared with the industry, while the quality is materially stronger. In April, Boaz Weinstein, founder of New York-based Saba, said in a post the firm was holding some of Lincoln's credit default swap (CDS), and had already sold some of it. loadingLincoln's CDS spread, a measure of credit risk, is 238 basis points, compared with 323 when Saba disclosed the position, meaning the perceived risk has declined. Among seven listed life insurers tracked by Barclays, Lincoln was the only one which ended the first quarter below its capital target.

☆ Usme, Caicedo score to lift Colombia 2-0 over South Korea in Women's World Cup
▼ + stars: | 2023-07-25 | by ( Lori Ewing | ) www.reuters.com time to read: +3 min

The ball squirted into the net, to the delight of the yellow-clad Colombian fans at Sydney Football Stadium. "Well, I am extremely happy, but this has to do with the collective work of everyone," Caicedo said on her first World Cup goal. It was the final game of the opening round of group matches and the 300th match in Women's World Cup history. But Colombia, who reached the round of 16 at the 2015 World Cup, dominated possession, slicing through South Korea's defence with ease. "When you lose it's not so nice but I'll treasure this moment for the rest of my life, my first World Cup match.

Persons: Catalina Usme, Joy SYDNEY, Linda Caicedo, Usme, Yoon Younggeul, Yoon, Caicedo, Casey Phair, Nelson Abadia, Lee Guimmen's, Choe Yuri, Catalina Perez, Mayra Ramirez, Colin Bell, Lori Ewing, Muralikumar Anantharaman, Stephen Coates Organizations: Soccer Football, FIFA, Sydney Football Stadium, REUTERS, South, Real Madrid, Sydney Football, tooting, Germany, Sunday, ., Thomson Locations: New Zealand, Colombia, South Korea, Sydney, Australia, South Korean, Korea, British, debutantes Morocco, Morocco

The complex interplay between the transition, policy, economic performance and consumer preferences have made it harder than ever to forecast gasoline demand. Since then, the post-pandemic transition to a hybrid workplace has cut fuel demand for commuting. With the difficulty of predicting where gasoline demand goes from here, the EIA has revised its forecast several times this year. In January, it pegged demand this year at 8.74 million bpd, a fall from 8.76 million bpd last year. JPMorgan estimates that efficiency gains and EV sales wiped around 100,000 bpd from gasoline demand last year.

Persons: Aimee Dilger, Ciaran Healy, Healy, Joe Biden, Barack Obama, Biden, Alex Hodes, Patrick De Haan, Shariq Khan, Simon Webb, Marguerita Choy Organizations: REUTERS, U.S, International Energy Agency, Energy Information Administration, EIA, Reuters, IMPACT, JPMorgan, Trump, EV, Environmental Protection Agency, Reuters Graphics U.S, StoneX, Thomson Locations: Wilkes, Barre , Pennsylvania, U.S, Midwest, Paris, Russia, Ukraine

☆ Asia markets to mostly fall ahead of key economic data out of China, Australia and Japan
▼ + stars: | 2023-07-20 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

People ride an escalator at a shopping mall in Beijing on the second day of a holiday in late April 2023. Asia-Pacific markets are set to mostly fall on Thursday ahead of a slew of economic data across the region. Investors will be closely watching China's one and five-year loan prime rates to see if the country's government will attempt to spur growth by cutting rates, days after China's second quarter GDP came in below expectations. Japan is also set to release its trade figures for June, with economists polled by Reuters expecting its trade deficit to come in at 46.7 billion yen ($334.4 million), a sharp fall compared to last month's 1.38 trillion yen. In Australia, futures for the S&P/ASX 200 are at 7,286, lower than the index's last close of 7,323.7, and ahead of its unemployment figures for June.

Organizations: Reuters, Futures, Nikkei Locations: Beijing, Asia, Pacific, Japan, Chicago, Osaka, Australia

July 19 (Reuters) - The shares of Northern Trust (NTRS.O) jumped by more than 14% on Wednesday after the asset and wealth manager reported a smaller-than-expected drop in second quarter net interest income underpinned by higher interest rates and slower deposit losses. Analysts were, however, expecting a bigger drop in Northern Trust's quarter-on-quarter NII just like State Street. Northern Trust's shares were trading at $82.14, on track for its biggest one-day percentage gain since March 2020. Total revenue fell 1% to $1.77 billion in the quarter as Northern Trust generated fewer fees from its custodial, investment, and wealth management businesses. Northern Trust said its total assets under custody increased 5% to $14.48 trillion, while total asset management also rose 5% to $1.37 trillion.

Persons: Goldman Sachs, Alexander Blostein, NII, Sri Hari, Krishna Chandra Organizations: Northern Trust, Street Corp, Trust, Sri, Thomson Locations: Northern Trust's, Northern, Bengaluru

SummaryLaw Firms FTX founder allegedly misappropriated customer funds for European acquisitionFTX failed to find a buyer for the company in bankruptcy saleNEW YORK, July 13 (Reuters) - Bankrupt crypto exchange FTX sued insiders at FTX Europe AG late Wednesday, seeking to recover $323 million that FTX had invested in an ill-fated expansion into European crypto markets. After FTX filed for bankruptcy in November, it sought to sell FTX Europe, only to conclude that no buyer would offer meaningful value for the company, according to FTX. FTX acquired Digital Assets for nearly $400 million in three transactions in 2020 and 2021, hoping to obtain regulatory approvals and expand into European markets. FTX filed for bankruptcy protection in November, saying it was unable to completely repay customers who had deposited funds on its exchange. Prosecutors have charged Bankman-Fried, 31, with stealing billions of dollars in FTX customer funds to cover losses at its affiliated hedge fund Alameda Research.

Persons: FTX, Sam Bankman, Patrick Gruhn, Robin Matzke, Brandon Williams, Cosima Capital, Williams, Fried, Gruhn, Steven Holley, Stephen Ehrenberg, Brian Glueckstein, Christopher Dunne of Sullivan, Cromwell, Read, Clinton, Dietrich Knauth Organizations: FTX, AG, DA AG, Assets, Matzke, Gruhn, Prosecutors, Alameda Research, Trading, Bankruptcy, District of, Cromwell LLP, Thomson Locations: Zurich, Switzerland, Europe, Delaware, Matzke, Oregon, Alameda, U.S, District of Delaware

☆ Ancient pendants made from giant sloth bones suggest humans were in Americas earlier than thought
▼ + stars: | 2023-07-12 | by ( Katie Hunt | ) edition.cnn.com time to read: +5 min

While G. phoenesis was thought to have been a relatively small species of giant sloth, some ancient sloth species were so big that their fossilized burrows are now caves in southern Brazil that humans can walk through. One of the three pendants made from giant sloth bone. However, Pansani said the team dated other material — sediment, charcoal and other giant sloth bones — from the same layer as where the artifacts were recovered. Many experts are skeptical that humans occupied the Americas any earlier than 16,000 years ago, the study noted. For the new study, Pacheco said the team hadn’t considered the possibility of trying to extract genetic material from the sloth-bone pendants.

Persons: —, Thais Pansani, Federal University of São Carlos, phoenesis, Thaís Pansani, Pierre Gueriau, Mírian Pacheco, Pacheco, ” Pansani, Pansani, “, ” Pacheco, hadn’t, ” Organizations: CNN, Federal University of São, Paleobiology, Royal Society Locations: Brazil, Santa, Americas, South America, New Mexico, Russia

In mid-2020 Rome secured the lion's share of a 724-billion-euro kitty aimed at helping EU members emerge from COVID greener and more tech-friendly. Italy's 191.5 billion euros ($210 billion) of cheap loans and grants, to be received in tranches through 2026, was intended for productive investments in the bloc's most chronically stagnant economy. MICRO-PROJECTSMore than half the EU money is meant to go on digitalisation and ecological transition, with the rest devoted to sustainable transport, education, social cohesion and health. The government is still awaiting a 19-billion-euro tranche of the EU funds blocked in March over missed policy targets stemming from 2022. It brings Italy's byzantine rules closer to EU standards, but Gobbato said people will initially find it hard to adapt.

Persons: Flavio Lo Scalzo, Rome, Roberto Perotti, Giorgia Meloni, Mario Draghi, Giuseppe Conte, Carlo Messina, Intesa, Vittorio Soldavini, Davide Carlucci, It's, Gustavo Piga, Rome's, Ilaria, Dentons, Gobbato, Catherine Evans Organizations: REUTERS, Milan's Bocconi University, Treasury, European Central Bank, Technology, Tor Vergata University, Reuters, Thomson Locations: Milan, Italy, ROME, MILAN, tranches, Brussels, Italy's, Italian, Parma

☆ How to Pay Off Your Student Loans
▼ + stars: | 2023-06-28 | by ( Rebecca Safier | ) www.wsj.com time to read: +13 min

Here’s how to pay off student loans in a way that works for your budget and goals. Look into specialized loan forgiveness programsWhile the Supreme Court hasn’t shared its ruling on Biden’s widespread forgiveness initiative yet, there are other options for loan discharge, such as Public Service Loan Forgiveness and Teacher Loan Forgiveness. You can pay off federal student loans early, as there’s no student loan prepayment penalty. If you want to retain access to federal protections, it wouldn’t make sense to refinance your federal student loans. In the end, there’s no single right way to pay off student loans faster.

Persons: Rebecca Safier, Biden’s, ”, Robert Farrington, you’re, you’ve, Michael Lux, “, Farrington, Autopay, servicers, autopay, servicer Nelnet, hasn’t, Adam Minsky, You’ll, Mark Kantrowitz Organizations: Education Department, College Investor, millennials, Federal, Aid, Grad, Student Loan Sherpa, Student Aid, autopay, Peace Corps, Corinthian, Education Locations: “, SavingforCollege.com

El Paso County Court/Handout... Read moreJune 26 (Reuters) - A 23-year-old pleaded guilty on Monday to murder and other crimes in a 2022 shooting that killed five people at a gay nightclub in Colorado Springs. Anderson Lee Aldrich faces life in prison without the possibility of parole after reaching an agreement with prosecutors to plead guilty to five first-degree murder counts and 46 attempted murder counts. On Nov. 19, 2022, Aldrich, wearing body armor, opened fire at Club Q, an LGBTQ nightclub. The deal with prosecutors called for Aldrich to be sentenced on Monday immediately following the guilty plea. Those killed in the shooting were identified as Aston, 28; Kelly Loving, 40; Derrick Rump, 38; Ashley Paugh, 34; and Raymond Green Vance, 22.

Persons: Anderson Lee Aldrich, Read, Aldrich, Jeff Aston, Daniel Aston, Kelly Loving, Derrick Rump, Ashley Paugh, Raymond Green Vance, Aldrich's, Joseph Ax, Rami Ayyub, Rich McKay, Grant McCool Organizations: Paso County Court, Q, U.S, Aston, El, El Paso County Sheriff’s, Thomson Locations: Colorado Springs , Colorado, Paso County, Colorado Springs, Colorado, Orlando , Florida, El Paso County

☆ TipRanks reveals the top 10 Wall Street utilities sector analysts
▼ + stars: | 2023-06-25 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

TipRanks recognized the 10 best analysts in the utilities sector who delivered significant returns and edged past their peers through their recommendations. TipRanks' algorithms calculated the statistical significance of each rating, the average return and the analysts' overall success rate. Top 10 analysts from the utilities sectorThe image below shows the most successful Wall Street analysts from the utilities sector. Based on his buy recommendation, the analyst generated a profit of 161.7% from July 21, 2020 to July 21, 2021. Julien Dumoulin-Smith — Bank of America SecuritiesJulien Dumoulin-Smith has the 10th spot on the list, with a success rate of 57%.

Persons: Patrick T, Fallon, TipRanks, Shelby Tucker, Tucker, Frederic Bastien — Raymond James Frederic Bastien, Black, Benjamin Pham —, Benjamin Pham, Pham, Mark Jarvi —, Mark Jarvi — CIBC Mark Jarvi, Robert Catellier —, Robert Catellier, Alberto Gandolfi — Goldman Sachs, Alberto Gandolfi, Nelson Ng, Jan, Patrick Kenny, Kenny, Neil Kalton, Wells, Julien Dumoulin, Smith — Bank of America Securities Julien Dumoulin, Smith Organizations: Fluence, Siemens, AES Company, AES Alamitos Battery Energy Storage, AFP, Getty, RBC, Energy, Benjamin Pham — BMO Capital BMO Capital, Mark Jarvi — CIBC, Pinnacle, Drax Group, Robert Catellier — CIBC, RBC Capital RBC Capital, Bank In, National Bank, Secure Energy Services, Smith — Bank of America Securities, Sunrun Locations: Long Beach , California, Canadian, Canada, Danish, Methanex

☆ China Dragon Boat Festival tourism trips above pre-COVID levels -ministry
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +2 min

[1/3] People and children enjoy themselves by the lakeside at a park during the Dragon Boat festival holiday, following the coronavirus disease (COVID-19) outbreak, in Beijing, China June 4, 2022. REUTERS/Tingshu Wang/File PhotoBEIJING, June 25 (Reuters) - Trips for tourism in China during last week's three-day Dragon Boat Festival climbed 32.3% from a year earlier to an estimated 106 million, 12.8% above the pre-pandemic level in 2019, the ministry of culture and tourism said. Revenue from domestic tourism trips during the Dragon Boat Festival rose 44.5% on year to 37.31 billion yuan ($5.20 billion), recovering to 94.9% of the 2019 level, the tourism ministry said. The comparison between the 2023 and 2019 figures were made "according to comparable standards", the tourism ministry said on its website, without providing details about the metrics. The Dragon Boat Festival tourism rebound is smaller than that during the five-day May Day holiday, when domestic tourism trips surged 70.8% on year and were 19.1% above those of 2019，with revenues up 128.90% on year and on par with 2019, according to tourism ministry data last month.

Persons: Tingshu Wang, Roxanne Liu, Ryan Woo, William Mallard Organizations: REUTERS, National Immigration Administration, NIA, Thomson Locations: Beijing, China, BEIJING, Hong Kong, Taiwan, Macau

☆ CPI Report Today: Dow Futures Waver Ahead of Inflation Data
▼ + stars: | 2023-06-13 | by ( ) www.wsj.com time to read: +1 min

Stock futures are edging higher ahead of inflation data that could shed light on how much further the Federal Reserve may raise interest rates in the months ahead. While the headline pace of inflation has slowed this year, investors are focused on core inflation, which is expected to have remained stubbornly strong in May. The central bank is expected to hold interest rates steady , but investors think it could signal more rate increases in the future. The yield on 10-year government bonds rose to 4.409% from 4.323% after unexpectedly strong U.K. wage-growth data. Brent futures rose over 2% to around $73.30 a barrel, after sliding 3.9% Monday.

Organizations: Federal Reserve, Stock, Dow, Treasury, Japan’s Nikkei, ’ Locations: China, Shanghai, Europe, Brent

LONDON, June 8 (Reuters) - Europe’s gas storage is refilling much more slowly than usual as the drop in prices encourages more consumption by industrial users and power generators while diverting liquefied natural gas (LNG) cargoes to Asia. The surplus has narrowed from +282 TWh (+80% or +2.41 standard deviations) at the end of the traditional winter drawdown season on March 31 (“Aggregated gas storage inventory”, Gas Infrastructure Europe, June 8). Chartbook: Europe gas inventories and pricesInventories have responded to lower prices, with front-month futures prices down by more than 90% from its peak in August 2022. Lower prices in Europe are also diverting more LNG cargoes to price-sensitive customers in South and East Asia for power generation. Related columns:- Europe’s gas prices slide on swollen inventories (May 11, 2023)- Europe only has space for a small gas refill in 2023 (April 14, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Susan Fenton Organizations: European Union, Gas Infrastructure, Thomson, Reuters Locations: Asia, United Kingdom, Gas Infrastructure Europe, Chartbook, Europe, South, East Asia

☆ Rising imports, falling exports push US trade deficit to six-month high
▼ + stars: | 2023-06-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The trade deficit jumped 23.0% to $74.6 billion, the Commerce Department said on Wednesday. The government revised the goods trade data from 2018 while the trade services figures were revised from 2017. There were also increases in imports of industrial supplies and materials, though petroleum imports fell to the lowest level since August 2021. April's drop in goods exports was led by a sharp decline in exports of industrial supplies and materials, mostly crude oil and fuel oil. Adjusted for inflation, the goods trade deficit shot up 16.5% to $95.8 billion in April.

Persons: Christopher Rupkey, Lucia Mutikani, Toby Chopra, Andrea Ricci Organizations: Commerce Department, Trade, Consumer, Federal Reserve, Thomson Locations: WASHINGTON, U.S, New York

☆ Private equity hurtles towards hard Asia reset
▼ + stars: | 2023-06-07 | by ( Una Galani | ) www.reuters.com time to read: +4 min

SINGAPORE, June 7 (Reuters Breakingviews) - Sequoia’s decision to carve out its China business formalises a push for a hard reset in Asia that private equity firms have until now largely been grappling with behind the scenes. These country-agnostic funds accounted for just over half the money raised in 2022 in the region, a 22-year high. Granted, these South and Southeast Asia markets are small at present compared to China; that’s why more firms are seeking bigger-ticket buyouts in Australia and Japan. That will eventually weigh on performance in the region, which for top-quartile Asia funds last year was a very respectable median 25% net internal rate of return, per Preqin. Private equity’s cooling relationship with China, though, is likely to hit hard for most.

Persons: Neil Shen, Shailendra Singh, Singh, Zhang Lei, There’s, Shen, Antony Currie, Katrina Hamlin Organizations: Reuters, Bain & Co, Bain Capital, KKR, XV Partners, Sequoia, Twitter, NEWS Venture, Sequoia Capital, Thomson Locations: SINGAPORE, China, Asia, Republic, Sequoia, India, Southeast Asia, Greater China, Malaysia, Philippines, Indonesia, Thailand, Hillhouse, Singapore, Australia, Japan, U.S

☆ The U.S. isn't the only country with a debt ceiling. Here's how Denmark avoids the drama
▼ + stars: | 2023-05-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

U.S. President Joe Biden hosts debt limit talks with U.S. House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. Yet in Denmark — the only other democracy with a similar type of nominal debt ceiling — barely anybody knows it exists. Separation of church and state While the U.S. debt ceiling restricts government borrowing to a particular figure, most other economies set debt limits as a percentage of GDP. The Danish debt ceiling, or "gældsloft," was implemented as a constitutional requirement in 1993 after a restructure of the country's government, and set at 950 billion Danish kroner ($137.5 billion). Denmark is the only other country in the world with a debt ceiling comparable to that of the U.S., but it never causes the same political crises that Washington frequently faces.

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