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Tata Group, which regained control of Air India last year after decades of public ownership, put out just six paragraphs. "Air India negotiated hard and the team is very sharp despite having no prior aviation experience. A second person who watched the billions fall into place said the Air India negotiators were "methodical, tough and very sophisticated". Plans for announcements on the anniversary of Tata's Air India takeover slipped as engine talks wore on. Analysts caution many obstacles remain to Air India's plans.

☆ Putin's war on Ukraine sent Russians scrambling to buy gold and stash their savings, fueling a fivefold surge in demand
▼ + stars: | 2023-02-14 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

Demand for gold bars and coins in Russia jumped nearly fivefold last year from 2021. Russia has spurred the switch into gold by restricting sales of foreign currency and scrapping VAT on the yellow metal. The bullion rush was spurred by President Vladimir Putin's move to remove the 20% VAT on gold bars, as well as a central bank decision to restrict foreign-currency transactions. Russian demand for gold bars and coins rose nearly fivefold in 2022 from the previous year, data from the World Gold Council show. But Russia isn't the biggest gold buyer as its demand made up only 2% of the global total last year, World Gold Council data show.

Surging Shanghai metal stocks have injected an element of doubt into the bull narrative and the LME Index is now showing year-to-date gains of only 3% after a February pull-back. Shanghai Futures Exchange stocks of aluminium, copper and zincSEASONAL SURGEMetals bulls have been nervously watching the fast build in Shanghai Futures Exchange (ShFE) stocks over the past few weeks. Copper stocks have grown equally dramatically, from 69,268 tonnes to 242,009 tonnes over the same period. It is currently assessed by Shanghai Metal Market at a bombed-out $22.50 a tonne, down from an October high of $152.50. WAIT AND WATCHIt's difficult to say until China's seasonal stocks pattern plays out in full.

☆ Analysis: Shock of war hits a world economy at the crossroads
▼ + stars: | 2023-02-10 | by ( Mark John | ) www.reuters.com time to read: +6 min

But its deeper impact will be felt in how the conflict plays into shifts that were already reshaping the global economy before Russia's tanks rolled in. Economic sanctions on Moscow came as hurdles to world trade were mounting after an era of rapid globalisation. Reuters GraphicsReuters GraphicsReuters GraphicsNO ENDGAME IN SIGHTSome might conclude that means the world economy has taken the conflict in its stride. That would take the outlook for both the global economy and wider peace into uncharted territory. For the economy, the risk is that energy prices - and hence inflation - will be squeezed higher if shortfalls are not met.

☆ U.S. demand boosts L'Oreal fourth-quarter sales, China weighs
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: +1 min

L'Oreal posted 8.1% sales growth in the fourth quarter, a touch slower than in the previous three months, with firm demand in the United States and Europe helping to offset the dent from coronavirus disruptions in China. The cosmetics company, which sells Maybelline mascara and CeraVe skincare, recorded sales for the last three month of 2022 of 10.3 billion euros ($11.1 billion), in line with analyst expectations, according to Refinitiv data. The 8.1% growth rate for the three months to end-December compared with a 9.1% increase in sales in the third quarter. Overall revenues were boosted by 9.4% like-for-like growth in the United States and 8.1% growth in Europe, although the company said it saw a "drastic slowdown" in China in the second half of the year. L'Oreal grew faster than the market average across all its regions, Chief Executive Nicolas Hieronimus told CNBC's Charlotte Reed in Paris, with Europe proving a "pleasant surprise."

☆ Gold eases as steady dollar, U.S. rate-hike outlook dent appeal
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: +1 min

REUTERS/Alexander ManzyukGold prices edged lower on Thursday, as the dollar steadied and after U.S. Federal Reserve officials said more interest rate increases were likely to curb inflation. Spot gold was down 0.1% at $1,874.58 per ounce, as of 0054 GMT. Gold is sensitive to high interest rates which lift the opportunity cost of holding non-yielding bullion. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.03% to 921.10 tonnes on Wednesday from 920.82 tonnes on Tuesday. Spot silver fell 0.1% to $22.28 per ounce, platinum was 0.3% lower at $966.85 and palladium eased 0.1% to $1,646.89.

☆ Jim Cramer says price stability is right around the corner
▼ + stars: | 2023-02-09 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said the Federal Reserve is closer to winning its battle against inflation than Wall Street might believe. "Price stability … is right around the corner," he said, adding that the Fed "just needs to be aware there's really only one area of strength left in this entire economy." Stocks slipped on Thursday, reversing earlier gains as Wall Street's concerns about the central bank's interest rate hikes overshadowed strong corporate earnings. In other words, disproportionately high spending from people with large incomes is likely clouding the true state of inflation, according to Cramer. "Maybe [Fed Chair] Jay Powell's made more progress fighting inflation than [his] colleagues want to believe, except for this one area," he said.

☆ Biden's State of the Union may not help potential 2024 election bid against Trump, experts say
▼ + stars: | 2023-02-09 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

President Joe Biden's second State of the Union address played well with viewers, and may have helped him tee up a bid for reelection in 2024 — but it might not make a lasting impact on his hopes for a second term, experts said. And the latest poll showed that fewer respondents had a "very positive" reaction to this year's address when compared with a survey taken right after Biden's previous State of the Union speech. "He delivered his speech forcefully if not flawlessly, adding no new fuel to questions about his fitness to serve a second term," Galston said. His opponent from the 2020 election, former President Donald Trump, has technically been on the 2024 campaign trail for months, though he has done little in-person campaigning. Former President Barack Obama, under whom Biden served as vice president, had launched his own reelection bid in April 2011, less than three months after his second State of the Union address.

☆ Despite Alphabet's AI event flop — remember, Google dominates search for now. That's what matters
▼ + stars: | 2023-02-08 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

While Microsoft's new AI capabilities could take some market share from Alphabet, Google is still the unshakable leader in search. Alphabet also showed AI-enabled capabilities to Google Maps and Google Lens, allowing users to search for images from their phone's camera. Looking at Alphabet's total revenue of $76.05 billion during the fourth quarter , about 57% came from Google Search & Other. But data from Statcounter shows Google accounts for 93% of search engine market share in all platforms including desktop, tablet and mobile, overshadowing Bing's 3% market share. But Google search, the preferred platform for users, still has the edge with advertisers over Microsoft's Bing.

☆ I tried Microsoft’s new AI-powered Bing. Here’s what it’s like
▼ + stars: | 2023-02-08 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

Seattle CNN Business —Microsoft’s Bing search engine has never made much of a dent in Google’s dominance in the more than 13 years since it launched. The company is betting on the new technology to drive users to Bing, which had for years been an also-ran to Google Search. Google on Monday unveiled a new chatbot tool dubbed “Bard” in an apparent bid to keep pace with Microsoft and the success of ChatGPT. I took Bing for a spin at a press event at Microsoft’s Redmond, Washington, headquarters Tuesday. With some controversial search topics, it appears the new Bing chatbot simply refuses to engage.

☆ The Intercept laid off half a dozen staffers last month, culling the video team and other key positions from the nonprofit investigative newsroom
▼ + stars: | 2023-02-08 | by ( Reed Alexander | ) www.businessinsider.com time to read: +3 min

The Intercept laid off half a dozen staffers last month, Insider has learned. The layoffs mean the investigative outlet no longer has a video team and cut other key positions. Amid a spate of layoffs that have rocked newsrooms over the past few months, the nonprofit newsroom The Intercept laid off half a dozen staffers in January, Insider has learned. "We can't build something if we're losing colleagues at a rate like this," the union organizers wrote in the mid-January note. Are you a media insider who's been affected by recent layoffs, or thinks a staff cut might hit your company?

☆ Fed's Kashkari sticks to 5.4% rate hike view after 'surprising' jobs report
▼ + stars: | 2023-02-07 | by ( Lindsay Dunsmuir | ) www.reuters.com time to read: +2 min

"I think it surprised all of us," Kashkari said in an interview with broadcaster CNBC, referring to a blowout January jobs report in which more than half a million employment gains were reported by the U.S. government. Fed Chair Jerome Powell is due to speak later on Tuesday at 1240 EST (1740 GMT). Last week the U.S. central bank increased its benchmark overnight lending rate by a quarter-of-a-percentage-point to 4.5%-4.75%. Powell reiterated expectations that the Fed was eyeing a pause in the 5%-to-5.25% range as sufficiently restrictive in its fight against high inflation. January's jobs report, however, upended investor expectations after the U.S. economy added far more jobs than expected and the unemployment rate fell to 3.4%, the lowest reading since 1969.

☆ Fed's Kashkari says he's sticking to 5.4% rate hike view after 'surprising' jobs report
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

"I think it surprised all of us," Kashkari said in an interview with broadcaster CNBC, referring to a blowout January jobs report in which more than half a million employment gains were reported by the U.S. government. "Nobody should overreact to one report...but the underlying strength of the services sector of the economy is still very robust. And that's where I think a lot of us are focusing our attention... right now I'm still at around 5.4%. If I had to pick a number today, that would be where I was." Reporting by Lindsay Dunsmuir; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Carlsberg expects lower beer consumption to hit 2023 growth
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Feb 7 (Reuters) - Danish brewer Carlsberg (CARLb.CO) on Tuesday forecast organic operating profit growth in 2023 below last year's level as higher beer prices are expected to dent consumption. The world's third-biggest brewer expects organic operating profit this year to change by between minus 5% and plus 5%, compared with 12% growth last year. "While beer historically has been a resilient consumer category, the higher prices in combination with generally high inflation may have a negative impact on beer consumption in some of our markets, particularly in Europe," he said. Carlsberg said sales in the fourth quarter rose 6% from a year earlier to 14.6 billion Danish crowns ($2.11 billion), against 14.7 billion crowns estimated by analysts in a poll provided by the company. ($1 = 6.9344 Danish crowns)Reporting by Jacob Gronholt-Pedersen, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

The fragile state of the American economy and the euro zone’s surprise resilience could leave the European Central Bank as the lone hawk among major rate-setting institutions. Investors can benefit from the split by favouring the euro and European equities. Yields on 10-year U.S government bonds have dropped by 17 basis points to 3.62%, while equivalent German sovereign debt yields 2.29% – 15 basis points less than at the start of the year. By November it could be down to 150 basis points. On Feb. 2 the European Central Bank increased its key rate by 50 basis points to 2.5%, its fifth successive hike.

☆ Why I'd buy a Tesla Model Y over the Mercedes EQB after driving both electric SUVs
▼ + stars: | 2023-02-04 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

The Tesla Model Y. Tim Levin/InsiderTesla's always been the one to beat when it comes to range. The Model Y serves up an EPA-estimated 330 miles of driving per charge, making it one of the industry leaders. The 2022 EQB carries a comparatively weak 243-mile rating, which drops to 227 miles in the quicker EQB 350 model I tested. The Tesla Model Y. Tim Levin/InsiderTeslas are refreshingly minimalist and uncluttered, but not nearly as conventionally luxurious as BMWs and Benzes. The Tesla Model Y. Tim Levin/InsiderIn the Model Y, technology takes center stage in the form of a big, feature-packed display.

☆ Dow and S&P 500 updates: Stock market news today
▼ + stars: | 2023-02-03 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +1 min

A week that has been chock-full of economic data will be capped off Friday with the first US jobs report of 2023. That would be a considerable drop from the 504,000 jobs added in January 2022 and the 520,000 added in January 2021. It also would nearly match the 183,000 monthly average between 2010 and 2019, Bureau of Labor Statistics data shows. America’s unemployment rate dipped back down in December to 3.5%, once again matching a 50-year low. Layoff announcements — led by large tech firms — are picking up steam: The 43,651 job cuts announced in December jumped to 102,943 in January, according to a new data released Thursday morning by Challenger, Gray & Christmas.

☆ What to look for in Friday’s jobs report
▼ + stars: | 2023-02-02 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Minneapolis CNN —A week that has been chock-full of economic data will be capped off Friday with the first US jobs report of 2023. Beyond the key headline indicators of payroll gains, unemployment and average hourly earnings, here are some other areas of the jobs report that Pollak and other economists will scrutinize when the January jobs report is released Friday morning. Average weekly hoursIn December, the average working week for employees — including part-time workers — was 34.3 hours, according to BLS data. Labor force participationThe imbalance of labor demand and worker supply has been consistently highlighted by the Fed as a potential sticking point in its efforts to lower inflation. The world has changed pretty dramatically over the last two to three years, and it’s going to be difficult to show people that the skills they possess are needed right now.”The government’s monthly jobs report is scheduled to be released at 8:30 a.m.

☆ The U.S. Fed's smaller rate hike brings dollar strength closer to its end
▼ + stars: | 2023-02-02 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Kacper Pempel | ReutersThe U.S. dollar index continued to slump on Thursday as the Federal Reserve opted for a smaller interest rate hike of 25 basis points. The DXY fell 0.3% during Asia's morning session to 100.91, hovering at the lowest levels that it's seen since April 2022, according to Refinitiv data. watch nowThe turnaround in the dollar index will benefit currencies in the region, said Deutsche Bank International Private Bank's Asia-Pacific chief investment officer, Stephanie Holtze-Jen. "The relentless dollar strength, we will see an end to it," Holtze-Jen told CNBC's "Street Signs Asia." More data aheadStandard Chartered Bank's managing director Steven Englander said Friday's jobs data will be in focus for the dollar index.

☆ Dollar falls to nine-month low as Powell notes progress in disinflation
▼ + stars: | 2023-02-01 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 1 (Reuters) - The dollar extended losses on Wednesday and fell to a nine-month low against a basket of currencies after Federal Reserve Chair Jerome Powell spoke of making progress in bringing down inflation pressures, even as the U.S. central bank warned of further monetary policy tightening. He also noted progress on disinflation, which he said is in its early stages, and said the Fed will continue to make decisions on a meeting-by-meeting basis. The Fed's last "dot plot" in December showed that Fed officials expected the rate to rise above 5%. The dollar fell as low as 101.03 against a basket of currencies , the lowest since April 22. (USAVGE=ECI), (USAVHE=ECI)The European Central Bank (ECB) and the Bank of England are both expected to raise interest rates by 50 basis points on Thursday.

☆ One Small Step for Social Security
▼ + stars: | 2023-02-01 | by ( Andrew G. Biggs | ) www.wsj.com time to read: 1 min

Social Security remains the largest federal spending program. As the new Republican House majority looks to rein in the budget, Social Security reforms could be on the table. Though vital to addressing the national debt, getting a comprehensive reform package—or any major entitlement reform—through Congress will be tough. Instead, lawmakers might consider a simple but meaningful start: capping the maximum retirement benefit. A cap would put a dent in Social Security’s 75-year funding gap of more than $20 trillion and send a message that government benefits to high-income retirees can’t be unlimited.

☆ Column: Europe needs France to get its nuclear act together in 2023: Maguire
▼ + stars: | 2023-02-01 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

LITTLETON, Colo., Feb 1 (Reuters) - A steep drop in France's nuclear power output in 2022 exacerbated Europe's power crisis by forcing French utilities to flip from net power exporters to importers just as Russia's invasion of Ukraine snarled energy markets across the continent. POWERING UPSo far in 2023, France's nuclear power output remains 17.5% below the average from 2020 and 2021, Refinitiv data shows, due in part to strikes against planned pension reforms for unionised workers. Even if average output remains below that previous target, any sustained increase in nuclear production from 2022 totals stands to have an impact on local power prices, as well as France's overall power import needs. For example, in December, some previously curtailed reactors resumed operations and that boosted national nuclear output by 40% from the average of the previous eight months, Refinitiv data shows. France seasonal nuclear power outputReporting By Gavin Maguire; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Mobile phone, PC shipments to fall again in 2023, Gartner says
▼ + stars: | 2023-01-31 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +2 min

STOCKHOLM, Jan 31 (Reuters) - Shipments of personal computers and mobile phones are expected to fall for the second straight year in 2023, with phone shipments slumping to a decade low, IT research firm Gartner said on Tuesday. Mobile phone shipments are projected to fall 4% to 1.34 billion units in 2023, down from 1.40 billion units in 2022, Gartner said. That was close to the 2009 shipments level when Blackberry and Nokia phones were the market leaders as Apple tried to dent their dominance. The mobile phone market peaked in 2015 when shipmentstouched 1.9 billion units. Personal computer shipments are expected to slide 6.8% this year after falling 16% in 2022, the research firm said.

☆ What one tech fund manager is expecting from Apple and Alphabet earnings this week
▼ + stars: | 2023-01-31 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Apple and Alphabet are, among others , due to post their fourth-quarter results this week and all are facing their "own set of challenges," according to tech fund manager Jeremy Gleeson. Gleeson, who manages the £1.1 billion ($1.5 billion) AXA Framlington Global Technology Fund, said there was enough bad news in Microsoft's earnings to "spook" some investors into selling the stock. However, the stock's more-than 2% bounce subsequently is an "encouraging" sign for the rest of Big Tech, Gleeson told CNBC's "Squawk Box Europe". MSFT 3M line Apple and Alphabet make up 8.7% and 7.8% of the AXA Framlington Global Technology fund respectively. They're buying, not the low-end products, but the high-end products from Apple," Gleeson added.

☆ Ford’s EV price cuts could pressure profitability, a headwind the automaker needs to address
▼ + stars: | 2023-01-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Ford Motor (F) confirmed Monday what Jim Cramer has been speculating for weeks: Price cuts on its electric vehicles following similar moves by Tesla (TSLA). Depending on the models, Ford's price reduction "hurts our decision to own Ford," Jim said Monday after the automaker said the move will make some Mach-E trims unprofitable. Last year, Ford announced a split of its EV and internal combustion engine units into separate businesses — called Ford Model e and Ford Blue, respectively — aiming to increase efficiencies unique to each and maximize profits. F 1Y mountain Ford (F) 1 year performance The Club's take With investors concerned about margin pressure due to the price cuts, we'll be looking for messaging on Ford's next steps to address the problem. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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