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☆ The World Is Becoming More African
▼ + stars: | 2023-10-28 | by ( Declan Walsh | Hannah Reyes Morales | ) www.nytimes.com time to read: +37 min

Old World Young Africa As the world grays, Africa blooms with youth. The World Is Becoming More African Part one of a series on how the youth boom is changing the continent, and beyond. But while a handful of African countries are poised to ride the demographic wave, others risk being swamped by it. In the West, racists and right-wing nationalists stoke fears of African population growth to justify hatred, or even violence. The age gap between geriatric leaders and restless youth is “a major source of tension” in many African countries, said Simon Mulongo, a former African Union diplomat from Uganda.

Persons: Lauren Leatherby, ”, Jean, Patrick Niambé, Hilton, Edward Paice, “, Keziah Keya, Keya, Paul R, Ehrlich, stoke, Lauren Leatherby “, Carlos Lopes, Burna, Weeks, “ It’s, Laolu Senbanjo, Tems, Toulaye Sy, Pritzker, Abdulrazak Gurnah, “ Africa’s, ” Long, exotica, Mulendema, Hannah O’Leary, “ We’re, Sipho Dlamini, Dlamini, Moawad, Optimists, Mo Ibrahim, Aubrey Hruby, birthrates, India’s, China’s, Akinwumi Adesina, States —, William Ruto, Paul Biya of, Biya, Wole Soyinka, Paul Kagame of, Nourdine, Nigeriens, Awade, Ali Bongo Ondimba, Simon Mulongo, Nuha Abdelgadir, Abdelgadir, gesturing, “ We’ve, ” Weeks, Abdelgadir’s, Modu Ali, Young, Saidu, Habiba Mohammed, Ms, Ha, Joon Chang, Nobody, Chang, Ibrahim, Touré Organizations: Young, United Nations, Southern, Northern, Western Asia Northern, United, Ivory Coast, African Union, Group, European Union ., Suisse, Africa Research Institute, Nigeria Mozambique Kenya “, Russia Canada Germany United, Russia Canada Germany United States Japan China Iran Egypt India Mexico Nigeria Ethiopia Ethiopia Dem, Russia Germany, China Egypt India Nigeria D.R.C, Russia Canada Germany United States Japan China Iran Egypt India Mexico Nigeria Ethiopia Dem, Bank, Nations, International, Bryn Mawr College, Angola, Angola Ivory Coast, Angola Ivory Coast Cameroon Dem, Africa Middle Africa Southern, Economic Commission, New, Citi, Spotify, Cannes Film, Burkina Faso, UNESCO, Disney, Amazon Prime, Netflix, “, Apple, Cape Town, Microsoft, Google, Infrastructure, McKinsey & Company, Pew Research Center, African Development Bank, Greek Coast Guard, Saudi, Africa Climate, Young Voters, Freedom House, University of Denver, United Arab, Japan Cuba Vatican City, Netherlands South Korea Belgium U.A.E, Islamic, Global, Center for Girls Education, School of Oriental, Studies Locations: grays, Africa, India, China, United States, Southern Asia, Asia, America, Caribbean, Northern America, Western Asia, Western Asia Northern America, Europe, London, New York, West Africa, Ivory, Abidjan, Russia, Turkey, Gulf, Nairobi, Nigeria Mozambique Kenya, Italy, Japan, Russia Canada Germany United States Japan China Iran Egypt India Mexico Nigeria Ethiopia Ethiopia, Congo Indonesia Brazil Australia South Africa Argentina, Russia Germany U.S, China Egypt India Nigeria, Brazil South Africa Australia, Russia Canada Germany United States Japan China Iran Egypt India Mexico Nigeria, Nigeria, Africa’s, Young, South Africa, Somalia, Mozambique, Mali, Gabon, Niger, Mozambique Nigeria Kenya, Kenya, Pennsylvania, Angola Ivory, Angola Ivory Coast Cameroon, Congo Algeria Egypt, Ghana Kenya Madagascar Mozambique Niger Nigeria, Tanzania Uganda South Africa, Northern Africa Eastern Africa, Africa Middle Africa, Africa Middle Africa Southern Africa, Guinea, Bissau, African, Qatar, Nigerian, Brooklyn, Target, French, Senegalese, Paris, Milan, Venice, Burkina, Tanzania, Saharan Africa, Nigeria Kenya Senegal In Lagos, Dakar, Zambia, South Korea, Sotheby’s, Lagos, Zimbabwe, Watford, Cape, Mombasa, Zanzibar, Cairo, Morocco, East Africa, Nigeria Mozambique Morocco, Sudanese, North Africa, East Asia, Thailand, Rwanda, Ivory Coast, States, Namibia, Kenyan, Paul Biya of Cameroon, Paul Kagame of Rwanda, United Arab Emirates, United States France Turkey, Germany, Russia India, Brazil, Japan Cuba, Japan Cuba Vatican City Spain Italy Saudi Arabia Qatar, Netherlands South Korea Belgium, Iran Canada, Niger’s, Niamey, Senegal Kenya Kenya, X’s, Tunisia, Egypt, Libya, Senegal, Uganda, Khartoum, Sudan, Ethiopia, Al Qaeda, Islamic State, Chad, Burkina Faso, Nigeria Nigeria Morocco, hijabs, Zaria, American, Korea, South, England

☆ Chevron’s third-quarter profit slumps, shares fall on earnings miss
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChevron’s third-quarter profit slumps, shares fall on earnings missCNBC's Becky Quick reports on the company's quarterly earnings results.

Persons: Becky Quick

☆ Chevron's third-quarter profit slumps, shares fall on earnings miss
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: +2 min

Results come after Chevron agreed to buy U.S. Hess for $53 billion to expand its shale and deepwater oil production. The earnings miss came after the company warned that maintenance in its oil and gas production and refining businesses would hurt results. It also suffered a setback in a Kazakhstan project with an about six-month delay in expanding oil and gas production at its Tengizchevroil operation. Profit from pumping oil and gas fell about 38% to $5.76 billion in the quarter from $9.3 billion a year ago. Oil prices recently rebounded from a mid-year slump as tighter supplies drove up crude prices.

Persons: Hess, Biraj Borkhataria Organizations: Chevron, Oil, PDC Energy, ACES, RBC, ACES Delta Locations: ACES Delta, Kazakhstan

☆ Standard Chartered profit slumps on China real estate and banking losses
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: +1 min

Pedestrians walk past the British multinational banking and financial services company Standard Chartered branch in Hong Kong. Standard Chartered on Friday reported first-half pre-tax profit rose 19%, above market expectations, as the emerging markets-focused lender benefited from rising interest rates. Standard Chartered on Thursday said pre-tax profit dropped 33% in the third quarter of the year, far beyond analyst estimates, after taking a nearly $1 billion hit from exposure to China's banking and troubled real estate sectors. The U.K.-headquartered bank, which earns most of its revenue in Asia, booked July-September statutory pretax profit of $633 million. Its Chinese real estate exposure totaled $2.7 billion, down $200 million from the previous quarter.

Persons: StanChart Organizations: Chartered, Hong Kong ., HK, China Bohai Bank Locations: Hong Kong, Asia, China Bohai, China

[1/4] Harley-Davidson motorcycles are seen at a dealership in Queens, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Harley-Davidson Inc FollowOct 26 (Reuters) - Harley-Davidson Inc (HOG.N) on Thursday reported a 24% fall in third-quarter profit as customers cut back on discretionary spending due to higher borrowing costs and inflationary pressures. Harley has maintained margin growth through its wealthier customer base, but hasn't been as successful in luring younger riders. Sales from motorcycles and related products fell about 9% to $1.30 billion in the quarter ended Sept. 30. Earnings per share tracked by analysts came in at $1.38 per share in the third-quarter, slightly above expectations of $1.36.

Persons: Harley, Davidson, Andrew Kelly, hasn't, Baird, Kannaki, Bianca Flowers, Sriraj Kalluvila Organizations: REUTERS, Davidson, Harley, Polaris Inc, Global, Thomson Locations: Queens , New York City, U.S, North America, Bengaluru, Chicago

☆ The US is headed for recession, but a key difference from past downturns could make it milder, Apollo chief economist says
▼ + stars: | 2023-10-25 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

The US economy is headed for a recession, but it's likely to be milder than prior slumps, Apollo's chief economist said. That's because any potential slowdown this time around would be "engineered" by the Fed, Torsten Sløk told CNBC. When recession arrives, the Fed can undo the measures it took that initially slowed the economy, he added. Another recession is coming, but this time around the culprit is also the savior, making it a lot less harmful, according to Apollo Management's chief economist, Torsten Sløk. "Here today, this is all engineered by the Fed, the slowdown," Sløk said.

Persons: Torsten Sløk, —, Apollo, Sløk Organizations: CNBC, Service, Fed Locations: It's

☆ Norfolk Southern profit slumps, takes $163 mln charge on Ohio derailment
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jonathan Drake/File Photo Acquire Licensing RightsOct 25 (Reuters) - U.S. railroad operator Norfolk Southern's (NSC.N) third-quarter profit slumped 41% on Wednesday as the company took another hefty charge related to the Eastern Ohio freight train derailment. The company took a $163 million hit in the quarter following a $416 million charge on its quarterly statement in the second quarter and a $387 million charge in the first. Norfolk reported quarterly income from railway operations of$756 million, including the derailment charge, compared to $1.3 billion earned last year. The company's quarterly results were in contrast with that of peer Union Pacific (UNP.N), which reported profit above estimates last Thursday. Reporting by Ananta Agarwal and Mehr Bedi in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Jonathan Drake, Ananta Agarwal, Mehr Bedi, Arun Koyyur Organizations: University of North, REUTERS, U.S . Justice, Union Pacific, Thomson Locations: Norfolk Southern, Chapel Hill , North Carolina, U.S, Norfolk, Eastern Ohio, of Mexico, Great Lakes, Bengaluru

☆ EV battery firm CATL's Sept China market share slumps, bodes ill for Q3 results
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

People walk past the booth of the battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) at the Auto Shanghai show, in Shanghai, China April 18, 2023. CATL reports quarterly results on Thursday, and investors will be on the look out for the extent the world's largest EV battery maker bore the brunt of the EV sales slowdown in China and rising pressure from automakers to cut battery prices. "This... is an incentive for CATL to offer some price cuts to secure its market share." CATL's setback also comes amid weakening EV sales in China that stoked an intense price war among automakers and a subsequent cost reduction pressure on battery firms and other suppliers. Shares in Shenzhen-listed CATL dropped 15% so far this year, lagging a 6% drop in broader market (.CSI300).

Persons: Aly, Qiaoyi Li, Zhang Yan, Brenda Goh, Miyoung Kim Organizations: Amperex Technology, ., Auto, REUTERS, Rights, Electric, EV, Citi, China Automotive Battery Innovation Alliance, HK, LSEG, Ford, Thomson Locations: Auto Shanghai, Shanghai, China, Rights BEIJING, Michigan, U.S, Shenzhen

☆ Pfizer to price Covid drug Paxlovid at $1,390 per course
▼ + stars: | 2023-10-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Pfizer will price a five-day course of its Covid antiviral drug Paxlovid at $1,390 when the company starts to transition it to the commercial market later this year. A company spokesperson on Wednesday confirmed the price, which was first reported by The Wall Street Journal. But beginning in 2024, Pfizer will sell Paxlovid directly to health insurers, which comes as demand for Covid vaccines and treatments slumps nationwide. But health insurance plans will likely pay much less than the nearly $1,400 list price for Paxlovid, meaning patients will probably have small or no out-of-pocket costs. Overall, Pfizer now expects 2023 sales of $58 billion to $61 billion, down from its previous guidance of $67 billion to $70 billion.

Persons: Angelica Peebles Organizations: Pfizer, Wednesday, Wall Street, Paxlovid, FDA, CNBC Locations: Paxlovid

☆ A lot of 2023's new unicorns have been generative AI startups. Here's what to expect from the sector next year, according to Accel.
▼ + stars: | 2023-10-17 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +4 min

Generative AI startups have made up a lot of the world's new unicorns this year. High-profile investors have jostled to back, in some cases, weeks-old startups like Mistral as the hype around generative AI intensified. Both regions also tout a batch of promising unicorns across the generative AI stack. Generative AI will become a run-of-the-mill tool"Generative AI will unlock new verticalised applications built with smaller and dedicated models and industry-specific workflows," the Accel report said. Enterprises will also jump to incorporate generative AI more seamlessly into their automation tools, per the report.

Persons: —, Phillipe Botteri, Harvey Organizations: Venture, Mistral, US, Accel Partners, Runway, Accel, EU, Stanford University, Enterprises, Big Tech, Microsoft Locations: Europe, Israel, Jasper, France, EU

☆ Global smartphone market slumps to lowest Q3 level in decade - Counterpoint
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsOct 16 (Reuters) - The global smartphone market contracted by 8% to its lowest third-quarter level in a decade on subdued demand for major brands including Apple (AAPL.O) and Samsung (005930.KS) in most developed markets, according to data from Counterpoint Research. Market leader Samsung posted a 13% drop in sell-through volumes in the period. It said the festive season in India, the 11.11 sale event in China and end-of-year promotions across regions would also support the market. So far, emerging markets have been a bright spot for smartphone sales in an otherwise dour year. In the third quarter, the Middle East and Africa were the only regions to record year-on-year growth, according to Counterpoint data.

Persons: Shannon Stapleton, Samsung, Akash Sriram, Juby Babu, Aditya Soni, Pooja Desai Organizations: REUTERS, Apple, Samsung, Counterpoint Research, Reuters, HK, Huawei, Thomson Locations: Midtown, New York City, U.S, United States, Europe, Korea, India, China, East, Africa, Bengaluru

☆ ByteDance's valuation slumps to $223.5 bln - The Information
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: 1 min

The ByteDance logo is seen at the company's office building in Shanghai, China July 4, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsOct 2 (Reuters) - Short video app TikTok parent ByteDance was valued at $223.5 billion in a new employee share buyback, about 26% lower than a year ago, the Information reported on Monday. The company did not immediately respond to a Reuters request for comment outside of normal business hours. ByteDance is planning to buy at least $300 million worth of stock from current and former U.S. employees, the report said. Reporting by Niket Nishant in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Niket, Shinjini Organizations: REUTERS, Thomson Locations: Shanghai, China, Bengaluru

☆ Dollar up as data highlights US economic resilience; yen slumps
▼ + stars: | 2023-09-22 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The data comes on the heels of disappointing data from Europe, which showed that economic activity in France fell much more quickly than expected in September. Separate survey data covering the whole euro zone showed that the economy likely contracted in the third quarter. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. BOJ maintains ultra-low interest ratesMeanwhile, sterling was 0.47% lower at $1.2237 after data showed that the UK economy slowed sharply in September and is likely on the brink of recession.

Persons: Florence Lo, Michael Brown, Brown, Michelle Bowman, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, BoE, Saqib Iqbal Ahmed, Harry Robertson, Rae Wee, Sharon Singleton, Matthew Lewis Organizations: U.S, REUTERS, P Global, Federal, Trader, Federal Reserve, Bank of Japan, Asia FX, RBC Capital Markets, Bank of England, Thomson Locations: United States, U.S, Europe, France, Asia, Tokyo, New York, London, Singapore

The forecasts seem at odds as higher rates raise the credit costs that can crimp the economy. MSCI's U.S.-centric gauge of global equity performance and stocks on Wall Street bounced back while Treasury yields, which move inversely to price, retreated. Yields on two- and 10-year notes remained inverted at -68.3 basis points as the shorter-dated note yields more than the longer one. MSCI's all-world country index for stocks (.MIWD00000PUS) gained 0.14%, but the pan-European STOXX 600 index (.STOXX) closed down 0.31%. Oil prices rose as renewed global supply concerns from Russia's fuel export ban countered demand fears driven by macroeconomic headwinds and higher interest rates.

Persons: Brendan McDermid, Marvin Loh, Joe LaVorgna, SMBC, Brent, Craig Ebert, Huw Jones, Tom Westbrook, Marguerita Choy, Rashmi Aich, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Bank, Japan, Treasury, Federal, Fed, U.S, SMBC Nikko Securities America, Dow Jones, Nasdaq, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: New York City, U.S, Boston, New York, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

Yet higher rates typically crimp bank loans and raise the cost of credit. MSCI's U.S.-centric gauge of global equity performance and stocks on Wall Street bounced back while the dollar and Treasury yields, which move inversely to price, retreated. The initial reassessment of the Fed's higher-for-longer policy drove the rise in Treasury yields and created headwinds for risk assets, including equities, credit and emerging markets, but supported the dollar. MSCI's all-world country index for stocks (.MIWD00000PUS) gained 0.37%, but the pan-European STOXX 600 index (.STOXX) fell 0.39%. In emerging markets, Indian bonds and the rupee rallied after JPMorgan said it would add Indian debt to its widely tracked emerging markets index, setting the stage for billions of dollars in foreign inflows.

Persons: Brendan McDermid, Marvin Loh, Brent, Craig Ebert, Huw Jones, Tom Westbrook, Marguerita Choy, Rashmi Organizations: New York Stock Exchange, REUTERS, Bank, Japan, U.S, Treasury, Dow Jones, Nasdaq, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: New York City, U.S, U.S . Federal, Boston, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

☆ Stocks stall, yields climb on "higher for longer" rate worries
▼ + stars: | 2023-09-22 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

U.S. stock futures , , were slightly firmer ahead of the opening bell on Wall Street, signalling a pause after sharp losses on Thursday amid uncertainty over interest rates going into 2024. Benchmark 10-year U.S. Treasury yields hit a 16-year high of 4.508%, later trading at 4.48%, while 30-year yields hit their highest in a dozen years. The Fed revised downwards its unemployment rate forecast for next year, and if the U.S. economic data continued to improve, it would put "upside risk" on interest rates, making the need for a soft landing all the greater, Osman added. Ten-year Japanese government bond futures rallied though cash yields were little changed and near decade highs at 0.745%. Gold firmed 0.3% to $1,925 an ounce despite pressure from the stronger dollar and bond yields.

Persons: what's, Eren Osman, Arbuthnot Latham, Osman, Mary Daly, Neel Kashkari, Susan Collins, Lisa Cook, Craig Ebert, Huw Jones, Tom Westbrook, Edmund Klamann, Kim Coghill, Rashmi Organizations: Bank of Japan, Global, Nasdaq, Treasury, ING, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: Europe, U.S, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The BOJ held interest rates at -0.1% on Friday and reiterated its pledge to keep supporting the economy until it's confident inflation will stay at the 2% target. "We have yet to foresee inflation stably and sustainably achieve our price target," BOJ Governor Kazuo Ueda said in a press conference. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. It was on track to eke out a weekly increase of around 0.2%, its 10th rise in as many weeks.

Persons: Florence Lo, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, RBC's Tan, Treasuries, Ray Sharma, Ong, Sterling, BoE, Harry Robertson, Rae Wee, Christopher Cushing, Sonali Paul, Christina Fincher Organizations: U.S, REUTERS, Bank of Japan, Federal Reserve, Asia FX, RBC Capital Markets, Japan's Finance, Ministry, Finance, Bank of England, Thomson Locations: SINGAPORE, France, Asia, Tokyo, London, Singapore

☆ Instacart's IPO flops as the stock slumps. Here are 7 reasons why.
▼ + stars: | 2023-09-20 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

This is one of the concerns that has turned Instacart's IPO into a flop on its second day as a public company. To be successful, an IPO must deliver a big pop to the investors who signed on to buy stock when it debuts. He came out with an analysis of Instacart's business on Tuesday, valuing the company at $29 a share. The reason: The grocery business is low-margin, so there's not a lot of room for Instacart to skim more fees. "In short, the growth in online grocery sales will be higher than total grocery sales growth, but not overwhelmingly so."

Persons: Aswath Damodaran, Fidji Simo, Instacart, Rowe Price, Damodaran, there's, Uber, Instacart doesn't Organizations: Service, Fidelity, DST Global, NYU's Stern School of Business, Instacart Shoppers, Shoppers, Tech Locations: Wall, Silicon, Aswath, COVID

☆ American Business Confidence in China Slumps to Lowest in Decades
▼ + stars: | 2023-09-19 | by ( Newley Purnell | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

The benchmark 10-year Treasury yield hit 4.399% overnight in Asia, its highest rate since early November 2007, and the two-year yield rose further above 5%. MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.27%, while the pan-European STOXX 600 index (.STOXX) lost 1.05%, hit by lowered growth outlooks. CENTRAL BANKSGlobal central banks take stage, with five of those overseeing the 10 most-heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks including Turkey and South Africa will also meet. The Swedish crown sank to a record low against the euro on Monday, days before the Riksbank is expected to raise interest rates again.

Persons: Brendan McDermid, BOE, Brent, Marc Chandler, Chandler, Saira Malik, France's, Stocks, Xi, Kazuo Ueda, Herbert Lash, Nell Mackenzie, Dhara, Stella Qiu, Philippa Fletcher, Alexander Smith, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Treasury, Global, Federal, United Auto Workers, Detroit Three, Bannockburn Global, U.S, Societe Generale, Dow Jones, Nasdaq, China Evergrande, HK, CENTRAL, Bank of England, Bank of Japan, European Central Bank, Thomson Locations: New York City, U.S, China, Bannockburn, New York, Asia, Turkey, South Africa, Swedish, London, Sydney

China property woes, geopolitical tensions and ongoing strikes also stoked worries about global growth. CENTRAL BANKSGlobal central banks take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks such as Turkey and South Africa will also meet. In currency markets, the dollar drifted lower with the dollar index last down a touch at 105.24 but within sight of recent six-month highs. The euro gained about 0.1% to $1.0663, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, France's, Taiwan's TSMC, Xi, James Rossiter, Rossiter, Marc Chandler, Goldman Sachs, Kazuo Ueda, Nell Mackenzie, Stella Qiu, Dhara, Philippa Fletcher, Alexander Smith Organizations: REUTERS, Staff, Societe Generale, China Evergrande, HK, Technology, Reuters, TD Securities, Japan's Nikkei, Brent, . West Texas, Federal Reserve, Bannockburn Global, CENTRAL, Global, Fed, Bank of England, Bank of Japan, Treasury, European Central Bank, Thomson Locations: Frankfurt, Germany, China, United States, Japan, Scandinavia, Switzerland, Britain, Asia, U.S, London, Bannockburn, Turkey, South Africa, Europe, SYDNEY

☆ European shares slip with central banks in focus; Nordic Semiconductor slumps
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 15, 2023. The pan-European STOXX 600 (.STOXX) edged 0.2% lower by 0705 GMT, with healthcare (.SXDP) and rate-sensitive technology stocks (.SX8P) weighing on the index. Global central banks will take centre stage this week, with Bank of England likely to hike interest rates for the 15th time later in the week, while the Fed seems set for a hawkish pause. Nordic Semiconductor ASA (NOD.OL) shed nearly 14% after cutting its revenue guidance for the third quarter. Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Slawomir Krupa, Bansari Mayur, Varun Organizations: REUTERS, Staff, Bank of, Nordic Semiconductor ASA, Societe, Thomson Locations: Frankfurt, Germany, Norway, Sweden, Switzerland, United States, Bank of England, Bengaluru

☆ Japan corporate mood sours on fears of China-led global downturn: Reuters poll
▼ + stars: | 2023-09-14 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

The gloom across the business sector underlines the challenge for Japanese policymakers and raises doubts that exports could fuel an economic recovery in the face of weak domestic demand. The Reuters Tankan monthly poll of 502 big manufacturers, showed a sharp fall in the sector's sentiment index to plus 4, from plus 12 in August. Compared with three month ago, the manufacturers' sentiment index -- calculated by subtracting the percentage of pessimistic respondents from optimistic ones -- was down four points and suggests decline in the quarterly tankan survey. The Reuters Tankan non-manufacturers index also dropped nine points to hit plus 23 in September from the previous month, the biggest decline since May 2020, the survey showed. The business sentiment over the coming three months showed the manufacturers' index flat in December and the service-sector index slightly down at plus 21 at year-end.

Persons: Tetsushi, Shri Navaratnam Organizations: Reuters, Bank of, Overseas, Thomson Locations: China, TOKYO, Bank of Japan's, Ukraine, U.S

☆ Japan corporate mood sours on fears of China-led global downtown: Reuters poll
▼ + stars: | 2023-09-12 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

Persons: Tetsushi, Shri Navaratnam Organizations: Reuters, Bank of, Overseas, Thomson Locations: China, TOKYO, Bank of Japan's, Ukraine, U.S

☆ Top fund managers flee emerging markets in fear of a potential global crisis, new survey shows
▼ + stars: | 2023-09-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Top investors are dumping emerging market equities and buying U.S. stocks at a record pace due to concerns about a potential global crisis, according to Bank of America investment strategist Michael Hartnett. The BofA Global Fund Manager Survey showed that September saw a record jump in investor allocation to the U.S., and out of emerging market securities. The shift in asset allocation stemmed from a significant decline in China growth expectations. Bank of America's survey showed none of the respondents now expect a stronger economy in China, versus 78% when polled in February. Bank of America's survey showed investors see China real estate as the No.1 source of the next global credit event.

Persons: Michael Hartnett, Hartnett Organizations: Bank of America, Global, Survey, Bank of, People's Bank of Locations: U.S, China, Beijing, People's Bank of China

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