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☆ Meta plans new overview for Facebook, Instagram users, German regulator says
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 7 (Reuters) - Germany's cartel office said Meta (META.O) plans to introduce a new overview for users of its platforms Facebook and Instagram, in a step towards allaying anti-trust concerns following years of discussions with the regulator. Meta's accounts centre will allow users to make "a largely free and informed decision" about whether they want to use accounts such as Instagram and Facebook in combination or separately, the office said. "We have updated the Meta account overview to show more transparently how our services work together and give people more control over these features," a Meta spokesperson said. In 2019, the cartel office sought to ban Meta - then Facebook - from combining user data from several sources without users' consent. Germany is keeping close watch over Meta after the regulator deemed it of "paramount significance for competition across markets", a classification which gives the regulator more leeway to curb digital companies' market power.

Persons: Rachel More, Miranda Murray, Jason Neely Organizations: Facebook, Meta, Thomson Locations: BERLIN, Germany

The outlook was little changed for Britain and in India where prices have kept rising. Adam Challis, executive director of research and strategy for EMEA at JLL, said strong wage gains over the past year had kept many housing markets resilient despite significantly higher borrowing costs. Peak-to-trough falls for nearly all housing markets surveyed were downgraded from the March poll. British and U.S. house prices were expected to fall around 3% and Australia's to be flat for the full year 2023. Average house prices are expected to rise about 6% in India.

Persons: Mike Blake, Goldman Sachs, Adam Challis, hasn't, Hari Kishan, Prerana Bhat, Jonathan Cable, Anant Chandak, Sarupya Ganguly, Indradip Ghosh, Vivek Mishra, Milounee, Susobhan Sarkar, Devayani, Vijayalakshmi Srinivasan, Ed Osmond Organizations: KB, REUTERS, EMEA, Thomson Locations: Valley Center , California, U.S, BENGALURU, Canada, Germany, Australia, New Zealand, Britain, India, JLL

ET (1900 GMT), to discuss the debt ceiling bill. U.S. 10-year Treasury yields fell about 10 basis points (bps) to 3.72%, while thirty-year yields fell 8 basis points to 3.90%. "What is currently happening since yesterday shows where the debt ceiling premium was actually priced: mostly in bonds," said Ielpo. The cost of insuring exposure to a U.S. debt default meanwhile fell. "I wouldn’t blame the Treasury rally on the debt ceiling deal necessarily... the additional T-bill issuance, quantitative tightening, and difficult bank funding conditions now conspire to less favourable financing conditions to the economy," said Bouvet.

☆ Dollar set for third week of gains as US debt talks loom large
▼ + stars: | 2023-05-26 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar index — which tracks the greenback against six major counterparts — was last down 0.05% on the day at 104.20, just off Thursday's two-month high of 104.31. The dollar edged away from a six-month high against the yen and last stood at 139.67, having reached 140.23 yen in the previous session, its highest since November. The euro and British pound regained some ground, but were struggling to recoup recent losses against the dollar. The single currency was last up 0.07% against the dollar at $1.0727, but was not far from its two-month low of $1.0708 hit in the previous session. Sterling gained 0.23% to $1.2349, after data showed British consumers picked up spending in April, although the currency was still heading for a weekly loss.

Persons: Joe Biden, Kevin McCarthy, MUFG, —, Carol Kong, Boris Vujcic, Sterling Organizations: U.S, Wall, Federal Reserve, Fed, Commonwealth Bank of Australia, British, European Central Bank Locations: U.S, Washington, Croatian

Walmart de Mexico (Walmex) (WALMEX.MX) in April said it had bought Trafalgar, a payment app, to compete in a market dominated by Grupo Salinas' Baz, Oxxo's (FEMSAUBD.MX) Spin and MercadoPago of MercadoLibre (MELI.O). Executives at the Walmart unit expect the deal to "unlock Cashi's potential," starting with transfers, withdrawals and remittances while keeping open the option of loans and other financial services in the future. "We want to be the best financial services application in Mexico, and that requires constant investment," Marcelino Herrera, Walmex senior vice president of financial services, told Reuters. Walmart plans over $15 billion in capital expenditures for automation and alternate revenue streams in 2023, including its ad business, third-party marketplace, and deliveries. SYNERGIESWalmart has not defined fintech as a top investment priority but has poured money into it over the past year.

SINGAPORE, May 9 (Reuters) - The dollar clung to modest gains against major currencies on Tuesday but remained rangebound as traders awaited U.S. debt ceiling talks and tried to digest how a host of conflicting economic data will influence monetary policy and global growth. Closely-watched U.S. inflation data due on Wednesday is likely to set the tone for markets, after stronger-than-expected jobs data last week. Against a basket of currencies, the U.S. dollar index edged up 0.25% to 101.68, but remained near recent lows as traders eye a peak in U.S. rates. Sterling was broadly flat and bought $1.2599, ahead of Thursday's central bank policy meeting. ========================================================Currency bid prices at 10:18AM (1418 GMT)Reporting by Rae Wee Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar edges up as market looks to U.S. debt ceiling talks, inflation data
▼ + stars: | 2023-05-09 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

SINGAPORE, May 9 (Reuters) - The dollar edged up against major currencies on Tuesday as traders awaited clarity on U.S. debt ceiling talks and new inflation data for a clearer picture of the economic outlook and the Federal Reserve's likely rate-hiking path. Closely-watched U.S. inflation data due on Wednesday is likely to help set the tone for markets, after stronger-than-expected jobs data last week as the Fed considers how quickly to tighten rates as prices rise. Any Fed policy tweaks will have to be weighed against a backdrop of recent turmoil in the U.S. banking sector and a political impasse in Washington over resolving the country's debt ceiling and avoiding a default, analysts said. Elsewhere, sterling last bought $1.25975, down 0.1%, ahead of Thursday's central bank policy meeting. The Bank of England looks set to raise interest rates to 4.5%, as it tries to fight the highest inflation rate in Western Europe.

If a bank failure were to leave one of them without access to cash, widespread market instability would follow. “Why take that risk?” Summer Mersinger, a member of the Commodity Futures Trading Commission, told DealBook. Clearinghouses exist to mitigate risk, taking collateral and settling transactions between buyers and sellers in all kinds of financial markets. This means a bank’s failure could easily lead to losses for a clearinghouse that “could potentially reverberate across the financial system,” the Chicago Fed concluded in a 2020 report. Even without a complete failure at a commercial bank, delays in access to cash could trigger liquidity issues across markets.

☆ S&P 500 futures are flat as investors await closely followed inflation data: Live updates
▼ + stars: | 2023-05-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

S&P 500 futures are little changed Monday night as investors readied for key inflation reports due later in the week. S&P 500 futures inched down by 0.05%, while Nasdaq-100 futures shed 0.1%. The S&P 500 finished 0.05% higher, while the Nasdaq Composite ended with a gain of nearly 0.2%. Fox Corp. and Nikola are among companies set to report quarterly earnings before the bell, followed by Airbnb and Rivian after the market closes. Earnings season is beginning to wind down with more than 85% of the stocks in the S&P 500 done reporting.

☆ US debt ceiling: How to trade off it
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +5 min

BlackRock says (BLK.N) it's been buying Treasuries in anticipation of an economic slowdown and a protracted debt ceiling fight. 2/ RAINY DAY DEFAULT PROTECTIONCredit default swaps (CDS), which work like insurance against a debt default, are seeing strong demand. "If debt ceiling concerns grow we think markets will price in more Fed rate cut expectations, which means 5-year yields would fall," said Miyairi. 5/ ALL THAT GLITTERSDeutsche Bank strategist Robin Winkler says a good hedge may be buying gold against the dollar, as it has the tightest relationship with newsflow around the debt ceiling. In August 2011, as a debt ceiling crisis prompted a U.S. credit rating downgrade, gold rose 11% that month alone.

☆ Take Five: Sell in May?
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +5 min

The services component of the price data can gauge demand, but consumer and producer price data broadly paint a picture of deflation. April inflation data is out Thursday. At 10.1%, UK inflation is the highest in Western Europe. Reuters Graphics Reuters Graphics4/ SELL IN MAYConventional wisdom has it that May is the ideal point to take profit on equities and lay low until later in the year. "Sell in May and go away" is based on the premise that the best six-month period of the year for stock market returns is November to April, while the leanest is May to October.

☆ Exchange operator Cboe profit rises as market volatility lifts trading volumes
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Cboe Global Markets (CBOE.Z), reported a rise in first-quarter profit on Friday, as the exchange operator's trading volumes swelled on heightened market fluctuations amid a banking crisis and rising interest rates. The Chicago-based company, which provides trading platforms for equities, foreign exchange and derivative products across markets in different regions, saw a 13% rise in net revenue to $471.4 million. Cboe's results wrapped up a strong quarter for exchange operators. Earlier this week, New York Stock Exchange-parent Intercontinental Exchange Inc (ICE.N) reported upbeat results. Last month, both Nasdaq Inc (NDAQ.O) and CME Group Inc (CME.O) also beat profit estimates.

☆ Tesla Models S, X unavailable in some Asia-Pacific countries, website shows
▼ + stars: | 2023-04-30 | by ( ) www.reuters.com time to read: +1 min

April 30 (Reuters) - Tesla's Model S and Model X were not available for order in some Asia-Pacific countries, including Australia, Thailand, Singapore and New Zealand, the automaker's website showed on Sunday. Other Tesla Inc (TSLA.O) models, such as Model 3 and Model Y were available in these countries, according to the website. It was not immediately clear why these models were not available. Elon Musk's electric vehicle maker posted record deliveries in the January-March quarter, but deliveries of higher-priced Model X and Model S vehicles slumped by 38%. Tesla has been aggressively cutting prices for some of its models this year across markets to juice demand as competition among electric-vehicle makers heats up around the world.

Though average mortgage rates increased slightly last week, they've generally been trending down over the last month and a half. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesAverage 30-year fixed mortgage rates inched up to 6.39% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 5.76%, an increase from the prior week, according to Freddie Mac data. Inflation remains elevated, but has started to slow, which is a good sign for mortgage rates and the broader economy.

☆ Markets are facing a black swan event with 'nowhere to hide' as the latest rally has fueled a bubble that could burst at any time, veteran technical analyst says
▼ + stars: | 2023-04-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Markets are facing a black swan event, according to veteran strategist Jeff Bierman. Bierman pointed to a positive correlation between 5 assets, which is a sign the market is overbought. "This is a witch's brew for the pain trade to the downside," Bierman said in a note on Thursday. This is a black swan event. "Prepare for a bout of volatility," Bierman said of stocks this earnings season.

☆ Heineken sees Europe resilience offsetting Asia slowdown risk
▼ + stars: | 2023-04-19 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

The world's second-largest brewer expects its operating profit this year to increase by a mid- to high- single-digit percentage. "We see signals of a relatively resilient Europe and risks of slower economic growth in Asia Pacific, thus performance across markets may be different than anticipated," Heineken said. Overall beer volumes fell 3.0% in the first quarter, below the average expectation of a 1.9% decline in a company-compiled poll. In Nigeria, another large Heineken market, volumes fell sharply due to a transition to new bank notes that left many consumers short of cash. Heineken expected the situation to improve, with the validity of old notes now extended.

☆ UK house sales at pre-COVID levels after 'mini-budget' shock - Rightmove
▼ + stars: | 2023-04-11 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

Property website Rightmove (RMV.L) said the number of sales agreed between sellers and buyers was just 1% lower last month than in March 2019 as borrowing costs edged down from their leap after the September 'mini-budget'. However, while the total number of agreed sales had improved from being 21% below 2019 levels as recently as January, they remained down 18% when compared with March 2022. Real estate agents noted a "significant upswing" in buyer demand for apartments of all sizes, with agreed sales rising 10% from 2019, up from a fall of 11% at the start of 2023. London saw the most pronounced recovery in the broader market, with overall agreed sales increasing 11% compared to March 2019, and agreed sales of apartments 23% higher. Rightmove said a third of properties were reduced from their original asking price, up from 19% last year although in line with pre-pandemic levels.

☆ Here are the 6 stocks we traded at the start of the second quarter — and why
▼ + stars: | 2023-04-06 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

But the first week of trading of the second quarter got off to a rocky start, forcing us to recalibrate our approach to the market. But as the week progressed, stocks came under pressure amid signs the labor market is softening, fueling fresh investor fears of a recession. That prompted many investors to dump technology stocks in favor of defensive sectors like health care and consumer staples. We plan to stick with these three oil stocks, given energy prices are likely to move even higher amid ongoing geopolitical turmoil. Thursday We ended the trading week by purchasing this automation-focused industrial giant on weakness.

☆ German antitrust regulator opens door for curbs on Apple
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: 1 min

BERLIN, April 5 (Reuters) - Germany's antitrust regulator has opened the door for measures to curb Apple (AAPL.O) after deeming the U.S. tech giant a company of paramount significance for competition across markets, the body said in a statement on Wednesday. "On the basis of this decision, we can target practices that pose a threat to competition and practices and effectively prevent them," said Bundeskartellamt President Andreas Mundt. Apple was not immediately available for comment on the decision. The German authority has already declared Google parent Alphabet (GOOGL.O) and Facebook owner Meta (META.O) companies of paramount significance for competition across markets. Reporting by Rachel More, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Two-year yields have risen from a seven-month intraday low of 3.555% last Friday as Treasuries rallied on safe-haven buying. "Some of the banks there were in the spotlight, their stock prices are starting to at least stabilize," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute in Charlotte, North Carolina. The U.S. regional KBW bank index (.BKX) has tumbled about 25% this month, but has gained about 3.8% this week as tensions eased. Worries over inflation have prompted investors to reassess their expectations for monetary policy from a number of major central banks, including the Fed and European Central Bank. Oil edged lower in choppy trading as investors looked to pocket profits from two straight days of gains, and as markets debated supply tightness.

☆ Concentrix to acquire Webhelp in $4.8 bln deal
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

March 29 (Reuters) - Concentrix Corp (CNXC.O) will buy outsourcing and consultancy firm Webhelp in a $4.8 billion deal, the business services provider said on Wednesday, boosting its presence outside North America and adding clients in fast-growing markets. Webhelp shareholders will receive 14.9 million shares of Concentrix, 500 million euros ($542 million) in cash, and a 700- million euros note payable in two years. Based in Paris, Webhelp specializes in sales, marketing and payment services across markets in Europe, Latin America and Africa. Concentrix shareholders will own about 78% of the combined company and Webhelp shareholders the rest following the close of the deal, which is expected by the end of the year. ($1 = 0.9226 euros)Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ German regulator launches antitrust proceedings against Microsoft
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: 1 min

BERLIN, March 28 (Reuters) - Germany's antitrust regulator said on Tuesday it had launched proceedings against Microsoft (MSFT.O) to examine whether the U.S. tech giant is "of paramount significance for competition across markets". Andreas Mundt, head of the Bundeskartellamt regulator, said there were "good reasons" to examine whether this might be the case with Microsoft. "Such a finding would allow us to take action at an early stage and prohibit possible anti-competitive practices," he said in a statement. Writing by Rachel More Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Club Med owner is bullish on China's reopening, says resort is ‘definitely not for sale'
▼ + stars: | 2023-03-27 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +2 min

In this picture taken on October 12, 2016 a general view shows the Club Med resort in Sanya. Nicolas Asfouri | Afp | Getty ImagesClub Med is "very optimistic" about China's reopening, an executive from Fosun Tourism Group told CNBC Monday, adding that the luxury resort chain is "definitely not for sale." Bloomberg reported in November that Fosun International is exploring "strategic options" for Club Med as a means to reduce debt. "We are actually happy to see if … partners in different parts of the world can give synergy for us, but definitely Club Med is not for sale," said Xu, who is also the CEO of Club Med China. Hong Kong-listed shares of Fosun Tourism Group rose 0.93% while shares of Fosun International were 3% lower on Monday, marking the lowest levels it's seen since December.

☆ Warren Buffett, BlackRock and Goldman Sachs find energy stocks irresistible even as 2023 proves another turbulent year for markets
▼ + stars: | 2023-03-18 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +4 min

Energy stocks are emerging as a top favorite with Wall Street elites even as the recent string of bank failures spook markets. BlackRock and Goldman Sachs have also touted their preference for energy stocks. And one sector is emerging as quite the favorite with the likes of Berkshire Hathaway, BlackRock and Goldman Sachs - energy stocks. Goldman Sachs' chief US equity strategist David Kostin said last month it was time to turn to value stocks from sectors such as energy and healthcare. Economic uncertainty fueled by the banking turmoil has led to a jump in oil market volatility.

☆ Dollar slips as banks rescue makes room for relief rally
▼ + stars: | 2023-03-17 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

ECB policymakers sought to reassure investors that euro zone banks were resilient and that if anything, the move to higher rates should bolster their margins. The euro's reaction to the decision was fairly muted, though it managed to eke out a 0.3% gain on Thursday. Earlier in the week, the Swissie had plunged the most against the dollar in a day since 2015. The Japanese yen remained elevated, and was last roughly 0.3% higher at 133.30 per dollar. "The turmoil in the banking sector is complicating the outlook for Fed policy, but the impact may be more nuanced than the Fed simply reversing course," said Philip Marey, senior U.S. strategist at Rabobank.

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