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☆ Victor Wembanyama Is Here. The NBA’s Scorers Should Be Afraid.
▼ + stars: | 2023-10-24 | by ( Robert O Connell | ) www.wsj.com time to read: 1 min

When Victor Wembanyama steps onto a basketball court, its geometry changes. Vincent Collet, Wembanyama’s coach with Metropolitans 92 during his final season in France, has witnessed the phenomenon. An opposing team can choreograph the perfect sequence of screens and passes, springing a shooter into open air with the rim in his sights. Then Wembanyama—7-foot-4, with the arms of an even taller man and the quick stride of a smaller one—enters the frame. “You think you are alone,” Collet said in a recent interview.

Persons: Victor Wembanyama, Vincent Collet, Wembanyama’s, ” Collet, “, ” Organizations: Metropolitans Locations: France

But Curtis Chin's parents urged their six kids to ask customers at their Chinese restaurant about their background. Recent hate crimes have evoked comparisons to Vincent Chin's beating death at the hands of two white autoworkers outside his bachelor party. Curtis Chin's uncle was Vincent Chin's best man. Asian American and Pacific Islander groups are behind several upcoming events. “I just can’t impress upon it enough how much I feel like my whole community is rallying behind me for this book,” Chin said.

Persons: Curtis Chin's, —, Chin, “, ”, “ Vincent Who, Vincent Chin, Curtis Chin, it's, ” Chin, Chung's, ” Roland Hwang, Vincent Chin's, Hwang, there’s, George Floyd's, I’ve, Lily Chen, Curtis, Chen, we've, it’s, ___ Tang Organizations: Detroit, Asian American Writers ’, The Washington Post, The, American Citizens, Justice, Detroit Historical Museum, ”, Pacific, Associated Press Locations: Los Angeles, The, Detroit, Chinatown, Detroit's, Cass, The Cass, That's, ”, Asian American, Phoenix, @ttangAP

☆ This bank just hiked its 1-year CD rate to a fresh high
▼ + stars: | 2023-10-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Stashing money in safe assets is paying off — and another bank has just hiked the yield it pays on a 1-year certificate of deposit. LendingClub bumped the annual percentage yield on its 1-year CD to 5.65%, an increase of 15 basis points. That places LendingClub's 1-year CD some 55 basis points above the median CD peer rate, according to an analysis by Stephens, and it makes the bank's offering the top-paying CD within Stephens' coverage. "Following the market now anticipating a higher for longer rate cycle, we've seen a reversal of the CD rate cuts initiated in September by a few of our online banks," he said. The upside of buying a CD is you get to lock in your rate for the duration of the time you hold the instrument.

Persons: LendingClub, Stephens, Vincent Caintic, Caintic, Banks, — CNBC's Michael Bloom Organizations: Investors, Federal Deposit Insurance Corporation

☆ 'All eyes on me': Swift attention an adjustment but no distraction says Kelce
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

[1/3] Oct 1, 2023; East Rutherford, New Jersey, USA; Taylor Swift, a guest of Kansas City Chiefs tight end Travis Kelce (not pictured), cheers during the game at MetLife Stadium. Mandatory Credit: Vincent Carchietta-USA TODAY Sports Acquire Licensing RightsOct 6 (Reuters) - Kansas City Chiefs tight end Travis Kelce is adjusting to life under the microscope with Taylor Swift, telling reporters on Friday the media frenzy surrounding their relationship is no distraction. But pop megastar Swift's appearance at his last two National Football League (NFL) games - in Kansas City and New York - has brought a whole other level of attention to his life. But at the same time, you know, it comes with it," Kelce told reporters. Reporting by Amy Tennery in New York; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Taylor Swift, Travis Kelce, Vincent Carchietta, Bowler, Kelce, You've, Taylor, Amy Tennery, Ken Ferris Organizations: Kansas City Chiefs, MetLife, National Football League, Chiefs, Minnesota Vikings, Thomson Locations: East Rutherford , New Jersey, USA, Kansas City, New York

☆ This bank ended the third quarter with a bang, boosting its CD yield to 5.6%
▼ + stars: | 2023-10-02 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Banks that hiked yields in the final stretch of the third quarter include Bread Financial , which is now offering an annual percentage yield of 5.6% for a 1-year CD. One basis point equals one-hundredth of a percentage point. "We expect at least one more guide up from bank management teams on deposit betas as the Fed keeps rates higher for longer," wrote Morgan Stanley analyst Betsy Graseck. Those factors include competition from money market funds for depositors' dollars, and lower-yielding CDs repricing at higher rates, she added. The San Francisco Fed forecast that the last of these dollars would be depleted during the third quarter of 2023.

Persons: Stephens, Vincent Caintic, Banks, Ally Financial, Morgan Stanley, Betsy Graseck, — CNBC's Michael Bloom Organizations: Bread, Federal Reserve, Fed, Federal Reserve Bank of San, San Francisco Fed Locations: Stephens, Federal Reserve Bank of San Francisco

“We will not take a break and we cannot stop now, and we will continue to pass life-saving laws until we end gun violence in Connecticut. Our lives depend on it,” said Jeremy Stein, executive director of Connecticut Against Gun Violence. Immediately after it was passed, the law was challenged in court by gun rights supporters. Connecticut’s landmark 2013 gun law, passed in response to the 2012 elementary school shooting in Newtown that claimed 26 lives, is also being contested in court. Besides Connecticut, which has some of the strictest gun laws in the country, other politically liberal-leaning states including California, Washington, Colorado and Maryland also have passed gun laws this year that face legal challenges.

Persons: Ned Lamont, “, ”, Jeremy Stein, Gavin Newsom, Newsom, Vincent Candelora, Pro Tempore Martin Looney, Looney, Lamont Organizations: —, Sandy, Elementary, Democratic Gov, Besides Connecticut, U.S, Supreme, California, Republican, Assembly, Pro Tempore Locations: HARTFORD, Conn, Connecticut, Newtown, Besides, California, Washington , Colorado, Maryland, North Branford, ”, New Haven, ” Connecticut

☆ Pete Alonso, Mets cruise past Marlins in opener of DH
▼ + stars: | 2023-09-27 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/29] Sep 27, 2023; New York City, New York, USA; New York Mets first baseman Pete Alonso (20) doubles during the sixth inning against the Miami Marlins at Citi Field. Francisco Lindor hit a two-run homer in the third and Mark Vientos hit a two-run shot in the sixth for the Mets (72-85), who snapped a four-game losing streak. Brandon Nimmo had a two-run double in the eighth, when Alonso -- needing a triple for the cycle -- was plunked with one out. Alonso opened the scoring for the Mets with a two-run homer in the first off Braxton Garrett (9-7). Jon Berti finished a homer shy of the cycle for the Marlins, while Chisholm and Jake Burger each had two hits.

Persons: Pete Alonso, Vincent Carchietta, Francisco Lindor, Mark Vientos, Lindor, Jeff McNeil, Brandon Nimmo, Alonso, Braxton Garrett, Joey Lucchesi, Jazz Chisholm, Nick Fortes, Fortes, Jorge Soler, McNeil, Jon Berti, Chisholm, Jake Burger, Garrett Organizations: New York Mets, Miami Marlins, Citi Field, Marlins, Cubs, National League, Diamondbacks, Chicago White Sox, Atlanta Braves, Mets, Oakland Athletics, Thomson Locations: New York City , New York, USA, Chicago

☆ Is this vessel the future of shipping? Shipping giant Maersk is banking on it
▼ + stars: | 2023-09-25 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Shipping is one of the biggest polluting industries in the world, but Maersk is looking to change that. The world's second-largest shipping firm presented the first containership powered with green methanol – an alternative fuel that allows these ships to emit less CO2 compared to traditional vessels. However, green methanol is costly and scarce. Analysts are concerned whether Maersk and other shipping firms will struggle to secure enough supply to achieve their carbon ambitions. Is powering ships with green methanol the solution to one of the world's heaviest polluting industries?

Persons: Vincent Clerc, Ulrik Bak, SEB Organizations: Shipping, Maersk Locations: Copenhagen

☆ Fringes and slime at Prada Milan Fashion Week show
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

[1/5] A model presents a creation from the Prada Spring/Summer 2024 collection during Fashion Week in Milan, Italy, September 21, 2023. REUTERS/Alessandro Garofalo Acquire Licensing RightsMILAN, Sept 21 (Reuters) - Models walked amid slime falling from the ceiling at Prada's catwalk show on Thursday, as the Italian luxury label presented its latest womenswear collection at Milan Fashion Week. Designers Miuccia Prada and Raf Simons opened the Spring/Summer 2024 show with an all-grey shirt and shorts look, worn with a patterned scarf on top. Milan, which will host shows by other fashion heavyweights including Giorgio Armani, Gucci, Dolce & Gabbana and Versace, is the third leg of the month-long Spring/Summer 2024 catwalk calendar that began in New York in early September. Milan Fashion Week runs until Monday.

Persons: Alessandro Garofalo, Miuccia Prada, Raf Simons, Miu Miu, Scarlett Johansson, Emma Watson, Benedict Cumberbatch, Vincent Cassel, Simons, Fabio Zambernardi, Giorgio Armani, Gucci, Versace, Marie, Louise Gumuchian, Elisa Anzolin, Christina Fincher Organizations: Prada, REUTERS, Milan Fashion, Dolce, Milan, Thomson Locations: Milan, Italy, Hong Kong, New York, London, Paris

☆ Shipping giant Maersk is seeing tentative signs of a bounce back in global trade
▼ + stars: | 2023-09-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Containers of Danish shipping and logistics company Maersk are seen in Copenhagen, Denmark, on September 14, 2023. Sergei Gapon | Afp | Getty ImagesThere are tentative signs of a bounce back in global trade, according to the CEO of shipping titan Maersk. North America is also looking strong for the next year, despite having faltered along with many other major economies due to macroeconomic factors, including Russia's full-scale invasion of Ukraine and tensions with China. "As this starts to normalize and works itself out, we will see a rebound in demand," Clerc said. "I would say emerging markets and North America are certainly the points where we see the most upside potential," he added.

Persons: Sergei Gapon, Vincent Clerc, CNBC's Silvia Amaro, Clerc, Kristalina Georgieva Organizations: Maersk, Afp, Getty, Consumers, IMF, CNBC Locations: Copenhagen, Denmark, U.S, Europe, India, Latin America, Africa, North America, Ukraine, China

☆ Maersk CEO says the shipping giant is supportive of a carbon tax on the industry
▼ + stars: | 2023-09-14 | by ( Silvia Amaro | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaersk CEO says the shipping giant is supportive of a carbon tax on the industryVincent Clerc, CEO of Maersk, speaks to CNBC's Silvia Amaro about the idea of a global shipping tax.

Persons: Vincent Clerc, CNBC's Silvia Amaro Organizations: Email, Maersk

☆ Shipping giant Maersk unveils 'trendsetter' green vessel as it aims to be carbon neutral by 2040
▼ + stars: | 2023-09-14 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Evergreen and other shipping firms have ordered similar vessels, though they have less ambitious carbon neutrality targets than Maersk. Shipping accounts for around 3% of global carbon emissions, an amount comparable to major polluting countries. Denmark's Minister of Industry Morten Bodskov said this is because it is a global industry. In June, a group of 20 nations supported a plan for a levy on shipping industry emissions. "I'm worried about the rhetoric that energy transition is a downside and not really a great opportunity," he added.

Persons: Moller, Vincent Clerc, Clerc, Morten Bodskov, Bodskov, Maersk's, I'm Organizations: Maersk, DENMARK — Shipping, CNBC, Evergreen, Maersk . Shipping, Organization for Economic Cooperation, Development Locations: Copenhagen, DENMARK, China, Argentina, Brazil

☆ What’s next for the New York Jets without Aaron Rodgers?
▼ + stars: | 2023-09-13 | by ( Sam Joseph | ) edition.cnn.com time to read: +6 min

CNN —Aaron Rodgers’ arrival in the MetLife Stadium on Monday night signaled that change and hope were on the way for the New York Jets, but it turns out that this season’s long-awaited new era has suffered a significant setback. However, just four snaps into Rodgers’ New York career, disaster struck. Gang Green forced four turnovers from Bills quarterback Josh Allen – a fumble to go along with three interceptions by Jordan Whitehead. Jets wide receiver Garrett Wilson (17) celebrates with teammates after catching a pass for a touchdown during the fourth quarter. Wilson throws a pass under pressure from the Bills' pass rush.

Persons: CNN — Aaron Rodgers, Rodgers, Leonard Floyd, Achilles, “, Aaron, I’m, ”, Robert Saleh, ” Rodgers, Seth Wenig, Zach Wilson, Breece, Garrett Wilson, Greg Zuerlein, Green, Josh Allen –, Jordan Whitehead, That’s, Allen, Xavier Gipson, Stephen F, Adam Hunger, Allen Lazard, Jordan, Terrel Bernard, Vincent Carchietta, Sauce Gardner, Quincy Williams, Hall’s, Dalvin Cook, Wilson, ” Saleh, Tim Boyle, Wilson’s, Mike White, Joe Flacco, Elsa, Getty, Boyle, Matt Ryan, Carson Wentz Organizations: CNN, MetLife, New York Jets, Jets, Buffalo Bills, Green Bay Packers, Bills, Austin University, of Famer, NFL, Reuters Locations: Rodgers ’, York, Reed, Wilson, Rodgers

☆ Jets' QB Rodgers vows to 'rise yet again' after season-ending injury
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

Sep 11, 2023; East Rutherford, New Jersey, USA; New York Jets quarterback Aaron Rodgers (8) is injured while being sacked by Buffalo Bills defensive end Leonard Floyd (56) during the first half at MetLife Stadium. The New York Jets quarterback went down with the injury four plays into his highly-anticipated debut with the Jets on Monday, leading some to wonder whether it could spell the end of the 39-year-old's playing career. "I'm completely heartbroken and moving through all of the emotions, but deeply touched and humbled by the support and love," Rodgers said in a post on Instagram. "Proud of my guys, 1-0," Rodgers said in the post, which included photos of him from the game. Future Hall of Famer Rodgers joined the Jets in a blockbuster offseason deal after 18 seasons with the Green Bay Packers.

Persons: Aaron Rodgers, Leonard Floyd, Vincent Carchietta, I'm, Rodgers, of Famer Rodgers, Zach Wilson, Rory Carroll, Toby Davis Organizations: New York Jets, Buffalo Bills, MetLife, Jets, NFL, AFC East, of Famer, Green Bay Packers, Thomson Locations: East Rutherford , New Jersey, USA, Los Angeles

☆ NFLPA calls for league-wide grass fields following Rodgers' injury
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

Sep 11, 2023; East Rutherford, New Jersey, USA; New York Jets quarterback Aaron Rodgers (8) is injured while being sacked by Buffalo Bills defensive end Leonard Floyd (56) during the first half at MetLife Stadium. Mandatory Credit: Vincent Carchietta-USA TODAY Sports/File Photo Acquire Licensing RightsSept 13 (Reuters) - The NFL Players Association called on Wednesday for the league to eliminate artificial turf fields in favor of natural grass surfaces following the season-ending injury to four-times MVP Aaron Rodgers this week. "It makes no sense that stadiums can flip over to superior grass surfaces when the World Cup comes, or soccer clubs come to visit for exhibition games in the summer, but inferior artificial surfaces are acceptable for our own players." The NFLPA this year released data showing non-contact injuries were more common on artificial turf compared to grass fields during the 2022 NFL regular season. Reporting by Frank Pingue in Toronto, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Aaron Rodgers, Leonard Floyd, Vincent Carchietta, Lloyd Howell, Rodgers, Howell, Robert Saleh, Frank Pingue, Ed Osmond Organizations: New York Jets, Buffalo Bills, MetLife, NFL Players, NFLPA, Jets, NFL, Thomson Locations: East Rutherford , New Jersey, USA, Toronto

☆ Jets QB Rodgers leaves game with ankle injury
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Sep 11, 2023; East Rutherford, New Jersey, USA; New York Jets quarterback Aaron Rodgers (8) warms up before the game against the Buffalo Bills at MetLife Stadium. Mandatory Credit: Vincent Carchietta-USA TODAY Sports Acquire Licensing RightsSept 11 (Reuters) - New York Jets quarterback Aaron Rodgers left Monday's game against Buffalo after injuring his left ankle on his first drive with his new team. Rodgers was sacked by Bills defensive end Leonard Floyd with 11:15 left in the first quarter and after briefly standing up sat back on the turf. The Jets said he would not return to the game. Rodgers was replaced in the game by Zach Wilson.

Persons: Aaron Rodgers, Vincent Carchietta, Rodgers, Leonard Floyd, Zach Wilson, Rory Carroll, Peter Rutherford Organizations: New York Jets, Buffalo Bills, MetLife, Buffalo, Bills, Jets, Green Bay Packers, Super, Thomson Locations: East Rutherford , New Jersey, USA, Los Angeles

☆ Jets' QB Rodgers to miss rest of season with torn Achilles - report
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Sep 11, 2023; East Rutherford, New Jersey, USA; New York Jets quarterback Aaron Rodgers (8) is injured while being sacked by Buffalo Bills defensive end Leonard Floyd (56) during the first half at MetLife Stadium. Mandatory Credit: Vincent Carchietta-USA TODAY Sports Acquire Licensing RightsSept 12 (Reuters) - Aaron Rodgers will miss the rest of the 2023 National Football League (NFL) season with a torn left Achilles tendon suffered moments into his much-anticipated New York Jets debut, according to a report on the league's website on Tuesday. After the game the Jets said Rodgers would have an MRI on Tuesday to determine the severity of his injury. The Jets did not immediately respond to Reuters' request for an update on Rodgers but the team wished him well in his recovery on social media platform X, formerly called Twitter. But the trajectory of the franchise changed immediately with the acquisition of Rodgers, whose arrival saw the Jets' Super Bowl odds surge after the trade.

Persons: Aaron Rodgers, Leonard Floyd, Vincent Carchietta, Rodgers, Zach Wilson, Frank Pingue, Ken Ferris Organizations: New York Jets, Buffalo Bills, MetLife, National Football League, The Jets, Green Bay Packers, Jets, Reuters, Rodgers, NFL, AFC East, Thomson Locations: East Rutherford , New Jersey, USA, Toronto

☆ MLB roundup: Behind Aaron Judge's 3 homers, Yanks end skid
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +10 min

The Yankees won for the first time since Aug. 11 and avoided their first 10-game skid since 1913. New York's Luis Severino (3-8) didn't allow a run and surrendered just one hit, matching a season high with 6 2/3 innings. Blue Jays starter Kevin Gausman (9-8) gave up two runs on five hits in six innings against his former team. Cubs 6, Tigers 4Cody Bellinger drove in two runs, Yan Gomes knocked in the go-ahead run and visiting Chicago downed Detroit. Cubs starter Jameson Taillon had a no-hitter through five innings but gave up four runs in 5 2/3 innings.

Persons: Aaron Judge, Vincent Carchietta, Brian Cashman, MacKenzie Gore, New York's Luis Severino, Elly De La Cruz, Shohei Ohtani, Spencer Steer, Buck Farmer, Tyler Anderson, Matt McLain, Steer, Reid Detmers, Ohtani, Tim Anderson, Trayce Thompson, Anderson, George Kirby, Josh Rojas, Dean Kremer, Anthony Santander, Kremer, Jack Flaherty, Kevin Gausman, Charlie Morton, Marcell Ozuna, Morton, DJ Stewart, Ozuna, Austin Riley, Jose Quintana, Cody Bellinger, Yan Gomes, Julian Merryweather, Adbert Alzolay, Kerry Carpenter, Tarik Skubal, Jameson Taillon, Paul DeJong, Wilmer Flores, Camilo Doval, Bryce Harper, Jakob Junis, Ryan Walker, Craig Kimbrel, Kyle Schwarber, Trea Turner, Brice Turang, Carlos Santana, Willy Adames, Turang, Elvis Peguero, Ryan Jeffers, Lewis, Michael A, Taylor, Brandon Lowe, Lowe, Brent Suter, Osleivis, Pete Fairbanks, Elias Diaz, Adam Duvall, Josh Winckowski, Nick Pivetta, Kenley Jansen, Seth Martinez, Hector Neris, Bryan Abreu, Ryan Pressly, Kendall Graveman, Richie Palacios, Nolan Arenado, Louis, Paul Goldschmidt, Zack Thompson, JoJo Romero, Ke'Bryan Hayes, Connor Joe, Luis Oritz, Dairon Blanco, Cole Ragans, Bobby Witt Jr, Adrian Martinez, Blanco, Seth Lugo, Xander Bogaerts, Lugo, Garrett Cooper, Sandy Alcantara, Xzavion Curry, Will Smith, Enrique Hernandez, Jose Ramirez, Clayton Kershaw Organizations: New York Yankees, Washington Nationals, Yankee, Yankees, New, Reds, Cincinnati, Orange County, UCLA, The Reds, Angels, White Sox, Mariners, Seattle, Cleveland Guardians, Orioles, Blue Jays, Baltimore, Braves, Mets, Atlanta, Cubs, Tigers, Chicago, Detroit, Giants, Phillies, San Francisco, Philadelphia, Brewers, Milwaukee, Twins, Rays, Rockies, Tampa Bay, Colorado, Red Sox, Astros, Boston, Cardinals, Pirates, Pittsburgh, Royals, Athletics, Kansas City, Oakland, 103rd, Padres, Marlins, San Diego, Miami, Dodgers, Cleveland, The Dodgers, Thomson Locations: Bronx , New York, USA, New York, OptaSTATS, Cincinnati, Los Angeles, Anaheim , Calif, McLain, Orange, Southern California, Chicago, Toronto, Minnesota, Colorado, St . Petersburg, Fla, Houston, Boston, Pittsburgh, San, Angeles

☆ Trump to skip Republican debate, interview with ex-Fox host Carlson -NYT
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +3 min

Aug 11, 2023; Bedminster, New Jersey, USA; Former President Donald Trump holds papers showing the projections for the 2024 republican candidate primary polls during the first round of the LIV Golf Bedminster golf tournament at Trump National Bedminster. /Vincent Carchietta-USA TODAY Sports/File Photo Acquire Licensing RightsWASHINGTON, Aug 18 (Reuters) - Former U.S. President Donald Trump plans to skip the first Republican primary debate next week and instead sit for an online interview with former Fox News host Tucker Carlson, the New York Times reported, citing people briefed on the matter. Trump has also criticized Fox, which is hosting the debate, over its recent coverage of him. Trump campaign spokesman Steven Cheung said nothing had been confirmed on the candidate's debate plans, without elaborating. Representatives for Fox, which parted ways earlier this year with Carlson, and the Republican National Committee could not immediately be reached for comment.

Persons: Donald Trump, Vincent Carchietta, Tucker Carlson, Trump, Fox, Ron DeSantis, Steven Cheung, Carlson, Democrat Joe Biden, Nathan Layne, Susan Heavey, Ismail Shakil, Alistair Bell Organizations: Bedminster, Trump National Bedminster, Rights, Former U.S, Fox News, New York Times, Fox, Republican National, Reuters, Republican, Democrat, Thomson Locations: Bedminster , New Jersey, USA, Former, Milwaukee , Wisconsin, Florida, Fulton County , Georgia, New York

☆ This bank will now pay 5% yield on your savings
▼ + stars: | 2023-08-14 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

A new bank has joined the 5% club, handing savings account depositors a hefty yield on their idle cash. Bread Financial is the latest bank to offer 5% annual percentage yield to its savings account clients, hiking its rate 10 basis points. Bread's move to boost its yield makes it the first online bank under Wells Fargo's coverage to reach 5%, said analyst Michael Kaye. Marcus by Goldman Sachs also recently raised its online savings account rate 15 basis points, now offering a yield of 4.3% on savings accounts. "We still expect online bank rates will continue climbing even after the Fed stops raising its rates," wrote Vincent Caintic, analyst at Stephens.

Persons: Michael Kaye, Marcus, Goldman Sachs, Vincent Caintic, Stephens, Michael Bloom Organizations: Federal Reserve, Popular, CIT Bank, Fed Locations: Wells, 2H23

NEW YORK/LONDON, Aug 10 (Reuters) - Lean times faced by many U.S. and European companies may last longer than expected as they try to sell off their bulging inventories in an economic climate where demand is stalling. Full-to-bursting warehouses means fewer orders for manufacturers, which translates into lower levels of business activity and, ultimately, weaker growth. Now, global demand is falling as borrowing costs have risen, so companies have started running down stocks. Maersk controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies. Refinitiv I/B/E/S data shows U.S. and European companies are expected to report their worst quarterly results in years.

Persons: Vincent Clerc, Hugo Boss, Moller, Stanley Black, Decker, destocking, Levi Strauss, Rajiv Sharma, Arun Sundaram, Guillermo Novo, Cyrus de la Rubia, Siddharth Cavale, David Gaffen, Josephine Mason, Mark John, Jonathan Cable, Helen Reid, Jane Merriman Organizations: U.S, Maersk, Heineken, 3M, . Bureau of Labor Statistics, CFRA Research, Retailers, BASF, London, Rutgers University, Hamburg Commercial Bank, doesn't, Thomson Locations: Ukraine, U.S, United States, Ashland, Hamburg, New York, London

☆ Jake Meyers hits 2 HRs, carries Astros past Yankees
▼ + stars: | 2023-08-06 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/49] Aug 6, 2023; Bronx, New York, USA; New York Yankees starting pitcher Carlos Rodon (55) delivers a pitch during the first inning against the Houston Astros at Yankee Stadium. Meyers became the first Astros player to drive in six runs against the Yankees with his career-best total and joined Chas McCormick as the second Houston player to record six RBIs this season. Martin Maldonado followed Meyers' second homer with a long drive into the second deck in left. It was the ninth time Houston hit back-to-back homers this year. Rodon allowed five runs on three hits in 2 2/3 innings.

Persons: Carlos Rodon, Vincent Carchietta, Jake Meyers, Meyers, Chas McCormick, McCormick, Wandy Peralta, Martin Maldonado, Yordan Alvarez, Rodon, Alvarez, Gleyber Torres, Harrison Bader, Anthony Volpe, Jake Bauers, Aaron Judge, Bader, Bryan Abreu, Volpe flied, Abreu, Giancarlo Stanton, Houston's Jose Urquidy, Phil Maton Organizations: New York Yankees, Houston Astros, Yankee, Astros, Yankees, Houston, Texas Rangers, American League, New, McCormick, Thomson Locations: Bronx , New York, USA, New York, J.P, France

Moller-Maersk (MAERSKb.CO) warned on Friday of a steeper decline in global demand for shipping containers by sea this year prompted by muted economic growth and customers reducing inventories. The company, one of the world's biggest container shippers with a market share of around 17%, said it expects container volumes to fall by as much as 4%. Maersk, one of the world's biggest container shippers with a market share of around 17%, transports goods for retailers and consumer companies such as Walmart, Nike and Unilever. Maersk posted record earnings last year due to high freight rates caused by high consumer demand and pandemic-related log jams at ports. But freight rates have tumbled this year amid a global economic slowdown.

Persons: Andrew Kelly, Moller, destocking, Vincent Clerc, Jacob Gronholt, Pedersen, Terje Solsvik, Jacqueline Wong Organizations: Maersk, REUTERS, Shipping, Walmart, Nike, Unilever, Thomson Locations: Copenhagen, Denmark, Europe, United States

☆ Shipping giant Maersk beats expectations despite 72% profit plunge on falling container rates
▼ + stars: | 2023-08-04 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Danish shipping giant Maersk on Friday reported a sharp fall in second-quarter earnings on the back of plunging container rates, but still managed to beat market expectations and upgrade its full-year guidance. Analysts had projected an EBITDA of $2.41 billion, according to Refinitiv data. "Our decisive actions on cost containment together with our contract portfolio cushioned some of the effects of this market normalisation. Cost focus will continue to play a central role in dealing with a subdued market outlook that we expect to continue until end year." Maersk also narrowed its profit forecast for the full year and now expects underlying EBITDA to come in between $9.5 billion and $11 billion, having previously estimated a range of between $8 billion and $11 billion.

Persons: destocking, Vincent Clerc Organizations: Maersk, Analysts, Revenue Locations: North America, Europe

☆ Maersk has ways to grow again despite headwinds
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Container ship "Evelyn Maersk" is loaded during snowfall at a container terminal in a harbour amid the coronavirus disease (COVID-19) pandemic, in Hamburg, Germany, April 6, 2021. Arch rival and privately-owned Mediterranean Shipping Company (MSC) is deploying cash reserves on acquisitions to diversify away from container shipping. Maersk also needs to strengthen its logistics and services unit, where organic revenue fell 19%, dragged down by lower retail demand, particularly in North America. Last year's purchases of Pilot and LF Logistics helped prop up the division, but Maersk needs to invest more. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Evelyn Maersk, Fabian Bimmer, A.P, Moller, Boss Vincent Clerc, EBITDA, Clerc, Pamela Barbaglia, Pierre Briancon, Streisand Neto Organizations: REUTERS, Fabian Bimmer LONDON, Reuters, Maersk, Walmart, Nike, Unilever, CMA CGM, Mediterranean Shipping Company, LF Logistics, Twitter, Adidas, InBev, Thomson Locations: Hamburg, Germany, North America

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