DIRS.INFO The most relevant business & tech news

☆ Billionaires pay almost no tax. A global levy of just 2% could raise $250 billion
▼ + stars: | 2023-10-23 | by ( ) edition.cnn.com time to read: +3 min

Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday. Currently billionaires effectively pay far less personal tax than other taxpayers of more modest means because they can park wealth in shell companies sheltering them from income tax, the group said in its 2024 Global Tax Evasion Report. Although the end of banking secrecy and the corporate minimum tax have largely put an end to decades-long competition between countries on tax rates, numerous opportunities remain to reduce tax bills, the report said. For example, the rich increasingly park wealth in real estate instead of offshore accounts while companies can exploit loopholes in the 15% corporate tax minimum. Meanwhile, governments are increasingly competing for investment through subsidies rather than competing only on low tax rates, the Observatory said.

Persons: Gabriel Zucman, Joe Biden’s, ” Zucman, Zucman Organizations: EU Tax, Paris School of Economics, ” Locations: United States, France, Washington

☆ ESG investing is dying on Wall Street. Here’s why
▼ + stars: | 2023-10-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —The market for environmental, social and corporate governance, or ESG, investing is fundamentally broken. “ESG investing … entering the final quarter of 2023 continues to be a story of declining flows and assets under management,” said Robert Jenkins, head of global research at Lipper. Before the Bell spoke with Jenkins about the future of ESG investing in the US and globally. What trends did you see regarding ESG investing last quarter? Before the pandemic, we had kind of a nice, natural looking growth line to ESG products.

Persons: “, ”, Robert Jenkins, Jenkins, he’ll, it’s, Bell, ESG, I’ve, we’ve, Elliott Gotkine, Jeffrey Sonnenfeld, Satya Nadella, ” Sundar Pichai, Sonnenfeld, , Susan, ” Susan, ” Richard Griffiths, Citigate Dewe Rogerson, Shawn Fain, “ We’ve, Chris Isidore, Vanessa Yurkevich Organizations: CNN Business, Bell, New York CNN, CNN, Lipper, Netflix, Yale School of Management, ”, Microsoft, Google, ” Disney, Reuters, Tottenham Hotspur Football Club, Eclipse, “, London, United Auto Workers, ’ United Auto Workers, GM, UAW Locations: New York, Ukraine, Israel, America, United States, United Kingdom, Gaza

☆ Global billionaire tax could yield $250 billion annually, study says
▼ + stars: | 2023-10-22 | by ( Leigh Thomas | ) www.reuters.com time to read: +3 min

PARIS, Oct 23 (Reuters) - Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday. Currently billionaires' effective personal tax is often far less than what other taxpayers of more modest means pay because they can park wealth in shell companies sheltering them from income tax, the group said in its 2024 Global Tax Evasion Report. In the absence of a broad international push for a minimum tax on billionaires, Zucman said a "coalition of willing countries" could unilaterally lead the way. Although the end of banking secrecy and the corporate minimum tax have put an end to decades-long competition between countries on tax rates, numerous opportunities remain to reduce tax bills, the report said. For example the rich increasingly park wealth in real estate instead of offshore accounts while companies can exploit loopholes in the 15% corporate tax minimum.

Persons: Gabriel Zucman, Joe Biden's, Zucman, Leigh Thomas, Hugh Lawson Organizations: EU Tax, Paris School of Economics, Thomson Locations: United States, France, Washington

Instead, because the plan has been weakened, it says the minimum tax will generate only half that — less than 5% of corporate tax revenue. The watchdog group estimates that a 15% minimum tax could have raised roughly $270 billion in 2023. That carveout, the EU Tax Observatory warned, could “give firms incentives to move production to countries with tax rates below 15%." Despite its criticisms of what has happened to the minimum tax, the EU Tax Observatory praised a separate effort to stop the wealthy from dodging taxes. The EU TAX Observatory is calling for a 2% global tax on billionaires' wealth, a proposal it says would raise $250 billion annually from fewer than 3,000 people.

Persons: Janet Yellen, wouldn't, ″, Gabriel Zucman, ’ ’ Organizations: WASHINGTON, European Union, Organization for Economic Cooperation, Development, Apple, Nike, OECD, EU, Observatory, EU Tax Observatory, Companies, Treasury, Paris School of Economics, University of California Locations: Bermuda, Cayman Islands, United States, Berkeley

Enter the Swiss franc, a longstanding safe haven asset that just hit its highest level against the euro since 2015 , standing tall as its traditional rivals lose appeal. Other than U.S. dollar cash, only the Swiss franc and gold remained as options, Ielpo said. The Swiss franc has rallied over 3% against the yen this month. Reuters GraphicsUNCERTAIN WORLDSince the Oct.7 Hamas attacks in Israel, the Swiss franc -- also referred to as the Swissie -- has rallied roughly 2% against the dollar. "The war in the Middle East clearly has lead to a flight to safety that benefited the Swiss franc," said Karsten Junius, an economist at J.Safra Sarasin in Zurich.

Persons: Morgan Stanley, Florian Ielpo, Ielpo, Jeremy Stretch, Karsten Junius, Francesco Pesole, J.Safra Sarassin's Junius, Luca Paolini, Paolini, Treasuries, Toby Gibb, Naomi Rovnick, Alun John, John Revill, Amanda Cooper, Dhara, Dhara Ranasinghe, Tomasz Janowski Organizations: Swiss, Nestle, Wall, Lombard, U.S, Swiss National Bank, Traders, Ministry of Finance, CIBC Capital Markets, Reuters, ING, Management, Artemis, Thomson Locations: ZURICH, Israel, Geneva, Japan, Zurich, Swiss, U.S, London

☆ Sterling at weakest vs euro in five months as retail sales weigh
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters) - The pound was at its weakest against the euro in five months on Friday and was also under pressure versus the dollar as weak retail sales data reinforced fears about the health of the British economy. The euro climbed as far as 87.40 pence, its highest since May, with the European common currency also set for its best week against the pound in a month. Friday's moves were also driven by data that showed British retail sales fell more than expected in September, against a backdrop of broader cost of living pressures that could see the economy shrink overall in the third quarter. Weak retail sales and a noticeable drop in consumer confidence, though both are among the most volatile UK data releases," said Francesco Pesole, FX strategist at ING in a morning note. The pound has also been suffering against safe haven currencies and is trading at 1.0819 Swiss francs, its weakest since September 2022.

Persons: Francesco Pesole, Kirsten Donovan Organizations: National Statistics, ING, Thomson

☆ Gold scales 3-month peak as Middle East conflict lifts demand
▼ + stars: | 2023-10-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices hit a three-month high on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations that the Federal Reserve's rate hikes are nearing an end. Spot gold was up 0.2% at $1,978.19 per ounce by 0542 GMT, after hitting its highest since July 20. "Gold prices were supported as fears of another Fed rate hike in 2023 subside. We remain neutral towards gold prices for 2023, expecting prices to average $1,950/oz," Fitch Solutions said in a note. Spot silver fell 0.4% to $22.94 per ounce, but was headed for a second weekly rise.

Persons: Kyle Rodda, Yoav Gallant, Jerome Powell, Wang Tao Organizations: Agosi AG, Capital.com, Israeli, Fitch Solutions, Economic, of New Locations: Pforzheim, Israel, Gaza

Investors turn to the Fed amid Israel-Hamas turmoilThe Middle East crisis has put markets on edge, pushing up oil prices and driving demand for safe havens, like gold. A key update comes Thursday at noon Eastern, with Jay Powell, the Fed chair, set to speak at the Economic Club of New York. In recent months, inflation has begun to ease, but the path has been bumpy as hiring remains robust and consumers continue to spend. That’s fueled fears in the bond markets that Fed policymakers will keep their prime lending rate at around 5 percent well into next year. The conviction has prompted a mammoth sell-off in Treasuries in recent weeks, pushing the yield on the 10-year T-bill to a 16-year high.

Persons: Jay Powell Organizations: Economic, of New Locations: Israel, of New York, Treasuries

Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020. "Such an escalation could lead to increased oil prices, concerns about oil supply, and the potential for a global economic downturn." In the unlikely event the United States sends troops into the Middle East, Belote expected a $20 jump in oil prices, "if not more". "Israel has better relations with other Arab countries compared to then," JP Morgan private bank strategist Madison Faller said in a note, "and global oil supply is not as concentrated." Reuters Graphics5/ TECH JITTERSWhat's good for oil stocks can be bad for big tech.

Persons: Abdel Hadi Ramahi, Hamza Meddeb, Malcolm H, Brent Belote, Belote, JP, Madison Faller, Nadia Martin Wiggen, Alessia Berardi, Amundi's Berardi, Trevor Greetham, Morgan Stanley, Jeff, London's Greetham, Naomi Rovnick, Nell Mackenzie, Marc Jones, Dhara Ranasinghe, Sharon Singleton Organizations: United Arab Emirates, REUTERS, Kerr Carnegie Middle East Center, Oil, JP Morgan, Svelland, Reuters Graphics Reuters, U.S, Reuters, Swiss, Royal, Aegon, Deutsche Bank, Aerospace, Thomson Locations: Dubai, United Arab, Israel, Gaza, Beirut, IRAN, Iran, U.S, United States, Arab, Turkey, Ukraine, Egypt, Jordan, Iraq, Saudi Arabia, Qatar, Bahrain, Suez, London

☆ Why the post-earnings Morgan Stanley sell-off is an overreaction
▼ + stars: | 2023-10-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Meanwhile, Club name Morgan Stanley (MS) also reported a quarterly beat , even as EPS fell 6% year-over-year, to $1.38. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, G, Morgan Stanley, It's, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Israel . West Texas, Treasury, Club, Procter, Gamble, Nvidia, Citi Locations: Iran, Israel, U.S, China

☆ Gaza hospital blast: what we know about the explosion
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +7 min

Rescue personnel work at scene At Al-Ahli Hospital, after hundreds of Palestinians were killed in a blast at Al-Ahli hospital in Gaza that Israeli and Palestinian officials blamed on each other in Gaza City, Gaza Strip, in this screen grab obtained from video, October 17, 2023. Some Western countries have called for an investigation, without pointing the finger at this stage, while Arab states have blamed Israel. Founded 1882 and run by the Anglican church, Al Ahli Arab Hospital described itself on its website as "a haven of peace in the middle of one of the world’s most troubled places". It is located in the Zeitoun neighbourhood of Gaza City, which lies in the northern region of the Gaza Strip. Israel previously told Palestinians in the north of Gaza, including people in Gaza City, to move south for their own safety.

Persons: Joe Biden, Biden, Israel, Dr Fadel Naim, Dr Ibrahim Al, Naqa, Dr Naim, Dr Naqa, Ismail Haniyeh, Washington, Benjamin Netanyahu, Justin Welby, Canterbury, Lord God, Jordan's King Abdullah, Edmund Blair, Angus MacSwan Organizations: REUTERS, Reuters, U.S, Hamas, WHO, Palestinian, Al Ahli Arab Hospital, Islamic, West Bank, Authority, Israel Defense Forces, Intelligence, UNITED STATES, Israeli, Protesters, Thomson Locations: Al, Ahli, Gaza, Gaza City, Israel, GAZA, Al Ahli, Zeitoun, Kuwaiti, Rafah, Palestinian, United States, Islamic Jihad, Israeli, Amman, Egypt, Lebanon, Iran, Beirut

Several Arab countries, including Saudi Arabia, Jordan, Egypt, the United Arab Emirates and Iraq issued statements condemning Israel and accusing its military of bombing the hospital. People gather in Tahrir Square to protest the Gaza hospital blast in Baghdad, Iraq, on October 17. One group made an attempt to “reach it,” but a security source told CNN that security forces dealt with them and pushed them away. Jordanian security forces also used tear gas to disperse the protesters, according to two activists and videos posted to social media. TAP said “mass protests were held on Tuesday night,” in several areas “in solidarity with the Palestinian people” and against Israeli bombardment of Gaza.

Persons: Israel, Jihad, Murtadha, CNN’s Ben Wedeman, Protesters, Zohra Bensemra, Tayyip Erdogan, Joe Biden, Ayman Safadi, Safadi, “ can’t Organizations: CNN, Al, Ahli Baptist Hospital, Israel Defense Forces, Palestinian Islamic, United Arab, West, Anadolu Agency, US State Department, Security, Reuters, TAP, Palestinian Authority, West Bank, Jordan’s Foreign Affairs, IDF, UN, Episcopal, Al Ahli Baptist Hospital Locations: Israel, East, North Africa, Gaza City, Ahli, Saudi Arabia, Jordan, Egypt, United Arab Emirates, Iraq, Lebanon, Kuwait, Tunisia, West Bank, Ramallah, Gaza, Tahrir, Baghdad, Amman , Jordan, Jordanian, Beirut, Iran, Tehran, France, England, America, Esfahan, Qom ., Tunis, Istanbul, Turkish, ”, Jerusalem, Al Ahli, Al

☆ The IRS gave us a window into how much tech titans have dodged in taxes
▼ + stars: | 2023-10-18 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Microsoft recently revealed that the IRS said it owes nearly $29 billion in back taxes. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe IRS says Microsoft owes nearly $29 billion in back taxes — and it might signal a greater spotlight on how much tech titans are paying in taxes. Since 2004, we have paid over $67 billion in taxes to the U.S."AdvertisementAdvertisementWhat it means for other tech giantsMicrosoft isn't alone . In the US, around $165 billion in profits were shifted, and the US saw a 16% loss in corporate tax revenue.

Persons: —, Daniel Goff, Natasha, Janet Yellen, Ludvig Wier, Gabriel Zucman, It's, it's Organizations: Microsoft, Service, IRS, titans, Yale Law School, Treasury Department, Danish Ministry of Finance, UC Berkeley Locations: Puerto Rico, U.S

And as if to punctuate the tragedy and horror of the conflict, an explosion rocked a hospital in Gaza, causing hundreds of civilian casualties. "There is a significant U.S. interest here, showing strong support for Israel," which Biden did immediately after the attack and subsequently, she says. Hamas is based in Gaza, where civilian Palestinians have fought the Israeli government – Netanyahu especially – for civil and human rights. But while there are indeed Palestinians who support Hamas, not all do – and half of Gaza residents are children who are vulnerable as Israel seeks to erase Hamas forever. Biden and Netanyahu have had a chilly relationship going back to the Iran nuclear deal negotiated when Biden was vice president and which Netanyahu opposed.

Persons: Joe Biden, nudging, Biden, Biden doesn't, Benjamin Netanyahu, Jordan, King Abdullah II of Jordan, Mahmoud Abbas, Abdel Fattah el, Eileen Babbitt, Babbitt, Kamala Harris, Israel –, Chris Christie, Nikki Haley, Robert Lieberman, Israel, Lieberman, – Netanyahu, Netanyahu, Doug Schoen, Schoen, hamstrung Organizations: Hamas, Hezbollah, Palestinian National, White, Israel, The Fletcher School, Tufts University, Foreign, New, United Nations, Biden, Johns Hopkins University Locations: U.S, Israel, nudging Israel, Iran, Lebanon, Gaza, Egypt, Afghanistan, New Jersey, American, United States, Russia, China

A European Union flag flutters outside the congress palace ahead of the European Political Community summit in Granada, Spain, October 4, 2023. The council said all three jurisdictions either lacked tax information or failed to deliver on commitments regarding governance and transparency reforms. Barring Russia, it said in a statement, the EU list only includes "small and vulnerable countries like Belize yet fails to include any EU member state" which were given the same Global Forum rating. Oxfam's EU tax expert Chiara Putaturo also slammed the list as "toothless" for not screening the United States, the UK, or EU states such as Luxembourg and Malta, adding "countries deemed too big to be listed can no longer escape scrutiny." The EU Council did not immediately respond to a request for comment.

Persons: Jon Nazca, Chiara Putaturo, Sarah Morland, Alvaro Murillo, Jose Sanchez, Bill Berkrot, Stephen Coates Organizations: REUTERS, European Union, OECD's, Transparency, Information, EU, Marshall, Thomson Locations: Granada, Spain, Seychelles, Caribbean, Belize, Antigua, Barbuda, Russia, Panama, EU, United States, Luxembourg, Malta, British Virgin Islands, Costa Rica, Mexico City, San Jose, Belmopan

SINGAPORE/LONDON Oct 13 (Reuters) - Global shares slipped on Friday while assets considered to be safer havens such as gold and U.S. Treasuries rose as traders retreated from market risk as conflict in the Middle East intensified. MSCI's broadest index of global equities (.MIWD00000PUS) fell 0.3%, while Europe's Stoxx 600 share index (.STOXX) slid 0.4%. Brent crude oil futures jumped 2.7% on Friday to $88.29 a barrel, on track for a 4.3% advance this week. Spot gold gained 0.8% on Friday to $1,885 an ounce, set for a gain of 2.4% over the week. The risk-off mood also prevailed in the currency market, with the dollar holding on to most overnight gains.

Persons: Trevor Greetham, Treasuries, Ankur Banerjee, Naomi Rovnick, Edwina Gibbs, Susan Fenton, Kim Coghill Organizations: Asset Management, Federal Reserve, Treasury, Bank of Japan, Nikkei, Thomson Locations: SINGAPORE, Middle, Gaza, Hamas, Ashkelon, Israel, Brent, U.S, Baltic, Asia, Japan, MIAPJ0000PUS

SummaryCompanies Gold gains 5.2% so far this weekIsraeli military says troops make first ground raids into GazaPalladium set for weekly lossOct 13 (Reuters) - Gold prices jumped more than 3% on Friday and were poised for their best week in seven months as the intensifying conflict in the Middle East sent investors scurrying for safe-haven assets. Reuters GraphicsInvestors kept a tab on developments in the Middle East conflict, which has unnerved markets since the start of the week. "Investors are fleeing to safe havens as the risks of Middle East tensions grow," said Edward Moya, senior market analyst at OANDA. "If the geopolitical situation gets gloomier, there is a good chance that gold prices could go to the $2,000 levels this year. Platinum rose 1.4% to $880.42, while palladium dropped 0.3% to $1,141.24 and was set for a weekly decline.

Persons: Israel, Edward Moya, David Meger, Ashitha, Alexander Smith, Sherry Jacob, Phillips Organizations: Gaza, East, Reuters Graphics, High, Futures, Traders, Thomson Locations: Gaza, Israel, Bengaluru

☆ Investors flock to defensive stocks and safe havens on worries about Israel-Hamas war
▼ + stars: | 2023-10-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —The Israel-Hamas war is sending investors in search of defensive assets. Israel declared war on Hamas Sunday after the Palestinian militant group launched a brutal attack that killed at least 1,300 people. But investors have since bought up shares of virtually risk-free government bonds, indicating that Wall Street remains worried. Utilities, energy and real estate stocks have also outperformed the broader S&P 500 index’s roughly 1% gain this week. In August, a recently passed EU law known as the Digital Services Act went into effect for large online platforms, including the companies Breton addressed this week.

Persons: ”, George Smith, Bryan Hinmon, Hinmon, hasn’t, TikTok, Shou Zi Chew, Thierry Breton, Brian Fung, Breton, ” Breton, TikTok didn’t, Anna Cooban, ” Russia’s, Andrei Belousov, Read Organizations: CNN Business, Bell, CNN, Stock, Treasury, LPL, Twitter, Meta, Digital Services Locations: Israel, Palestinian, Saudi Arabia, Russia, Ukraine, Chew, Moscow

☆ 6 safe havens for commercial real estate as markets like Austin and San Francisco plummet
▼ + stars: | 2023-10-12 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +1 min

The pandemic real estate bubble is bursting in San Francisco and Austin, Texas. But there are still plenty of commercial real estate safe havens, according to a new Moody's report. With interest rates high and financing hard to come by, there are a lot of doomsday predictions around office towers, multifamily apartments, and other commercial real estate. To better understand the state of the commercial real estate market, look no further than a recent credit-reporting agency Moody's report. But Moody's second-quarter 2023 report released last month also reveals plenty of safe havens for commercial real estate investors, including some unexpected places like Albany, New York, Hartford, Connecticut, and Toledo, Ohio.

Locations: San Francisco, Austin , Texas, Albany , New York, Hartford , Connecticut, Toledo , Ohio

☆ CNBC Daily Open: U.S. Treasurys shine as safe havens
▼ + stars: | 2023-10-11 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. That's a staggering plunge of 78.7% year over year, dragged down by the firm's semiconductor business, which is expected to post a loss of more than 3 trillion won for the quarter. Alameda allegedly took FTX moneyCaroline Ellison, the former head of Alameda Research and ex-girlfriend of FTX founder Sam Bankman-Fried, took the stand as the government's star witness Tuesday. But when it hits, the stock market will probably slump about 12%, the founder and chief investment officer of Tudor Investment told CNBC.

Persons: That's, Caroline Ellison, Sam Bankman, Ellison, Sam, Paul Tudor Jones Organizations: CNBC, Samsung Electronics, Samsung, International Monetary Fund, IMF, Alameda Research, Tudor Investment Locations: Finland, Estonia, U.S, Alameda

Israeli assets and the shekel remain under pressure and oil and gold prices are marginally higher than last week. World Markets Impact From MidEast Attacks WanesBlackRock chart on its Geopolitical Risk IndicatorNOWHERE TO RUN TO... Last updated shortly before the weekend events in Israel, BlackRock's Geopolitical Risk Indicator - which attempts to capture market attention to political risks - had indeed crept up to six month highs. Releasing its World Economic Outlook on Tuesday, the International Monetary Fund warned that more volatile commodity prices were a possible reflection of both greater climate and geopolitical risk. And yet hand wringing about geopolitical risk in different corners of the globe can also deflect from rising political risks in core economies - not the least in the United States.

Persons: Brendan McDermid, Vincent Mortier, Anna Rosenberg, Kristina Hooper reckons, Hooper, that's, It's, Amundi's Rosenberg, Pierre, Olivier Gourinchas, Gourinchas, Josie Kao Organizations: New York Stock Exchange, REUTERS, West Bank, International Monetary Fund, IMF, Treasury, Reuters, Thomson Locations: New York City, U.S, Israel, Gaza, Iran, United States, Saudi Arabia, Russia, China, Taiwan, Ukraine

The fund is called Gulf Asia Trade & Investment, the sources said. The Adani Group did not comment on the SEBI probe and its possible ties with the fund when contacted by Reuters. EZY had been incorporated in the British territory in 2006, while Gulf Asia was incorporated there in May 2011. In April 2014, Gulf Asia held $51.4 million worth of shares in Adani Enterprises and Adani Power (ADAN.NS). In March 2017, that had increased to $202 million in four group companies - Adani Enterprises, Adani Power, Adani Transmission and Adani Ports (APSE.NS), according to the OCCRP data.

Persons: Francis Mascarenhas, Nasser Ali Shaban, OCCRP, Hindenburg, Ahli, Gautam Adani, EZY, SEBI, Jayshree, Krishn Kaushik, Sumeet Chatterjee, Edwina Gibbs, Louise Heavens Organizations: Securities and Exchange Board of India, REUTERS, Adani, Gulf Asia Trade & Investment, Dubai, Reuters, Securities and Exchange, India's, Hindenburg, Adani Enterprises, Al, Trade, United Arab, British Virgin Islands, Gulf, EZY Global, EZY, Thomson Locations: Mumbai, India, British Virgin, Nasser Ali Shaban Ahli, Gulf, Gulf Asia, United Arab Emirates, British, Asia

☆ Stocks ride wave of risk appetite; Israel conflict rages on
▼ + stars: | 2023-10-10 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 9, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Oct 10 (Reuters) - Global stocks rose on Tuesday, as a wave of risk appetite swept through markets after Federal Reserve officials signaled the recent yield surge could justify caution on interest rates, while oil eased, but violence in Israel made for nervy trading. "Based on Monday's comments from the Fed, the market is starting to think that the central bank does take greater notice of bond yields after all," ING strategist Chris Turner said. "However, we suspect that this may not be a defining story for the bond market in that no central bank likes being backed into a corner over what bond yields mean for monetary policy." Oil prices eased after climbing more than 4% on Monday.

Persons: Treasuries, Kallum Pickering, Chris Turner, Brent, Kane Wu, Stella Qiu, Kim Coghill, Christina Fincher, Chizu Organizations: REUTERS, Staff, Federal, Hamas, Fed, ING, Garden Holdings, HK, Thomson Locations: Frankfurt, Germany, Israel, Europe's, U.S, Palestinian, Gaza, Hong Kong, Sydney

☆ Asia shares pick up after Fed rate comments; oil dips
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

U.S. stocks ended higher on Monday, with energy shares rising along with oil prices. The S&P 500 energy index (.SPNY) ended up 3.5%. Oil prices eased after climbing more than 4% on Monday. "The unrest and volatility in the near-term suggest that upside risks to oil prices will persist," said OCBC economists in a note. This will lead to some volatility in oil prices during intense periods of conflict but should see prices normalize, following the knee-jerk reaction."

Persons: Androniki, Kerry Craig, Australia's, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn, Kim Coghill Organizations: Nikkei, REUTERS, dovish, Top Fed, Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, East, Europe, U.S, Asia Pacific, China, Israel, Palestinian, Gaza, Hong Kong, Sydney

☆ Asia shares rise after Fed comments, markets' eyes on Middle East
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was up 1.2% at 0135 GMT. Japan's benchmark Nikkei average (.N225) rose 2.4% while Australia's S&P/ASX 200 (.AXJO) rose for a fourth straight session to gain 1.2%. Top Fed officials indicated on Monday that rising Treasury yields could steer the Fed from further rate increases, helping to spur a rise in bond prices after those markets had been closed the previous day in the U.S. and Tokyo. The markets' initial reaction to the major geopolitical developments in the Middle East was a bout of risk aversion, analysts from National Bank of Australia said in a note. Ten-year Treasury yields , which have been surging, fell more than 13 basis points to 4.6% at the open in Tokyo as bond prices rallied after Monday's holiday.

Persons: Androniki, Australia's, Kerry Craig, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn Organizations: Nikkei, REUTERS, dovish, Top Fed, Tokyo ., Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, Asia Pacific, U.S, Israel, Palestinian, Gaza, Hong Kong, Sydney

Search resuls for: "Havens"

25 mentions found