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☆ Diamond prices have fallen 18% from their peak — and analysts say there's still more room to plunge
▼ + stars: | 2023-06-22 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

Diamond prices are down 18% from their all-time highs in February 2022, and are lower 6.5% year-to-date, according to one Global Rough Diamond Price Index. "A slightly better-than-average-quality 1-carat natural diamond was $6,700 a year ago, today this same diamond is selling for $5,300," Paul Zimnisky, the CEO of Paul Zimnisky Diamond Analytics, told CNBC. And when the economy started opening up again, diamond prices started moderating, and slid into a "steep decline," he added. said 29-year-old Singaporean Jonathan Lok, who proposed to his fiancée with a 0.76 carat lab-grown diamond ring late last year. The lab-grown diamond industry, which is energy-intensive, have also been seeing soaring energy costs taper off from its peak.

Persons: Diamond, Yuriko Nakao, Nakao, they're, Paul Zimnisky, Leon Neal, Daga, Jonathan Lok, Edahn Golan, Monirul Bhuiyan Organizations: Getty, Analytics, CNBC, Consumers, Bain & Company, Afp, Bloomberg, Edahn, Edahn Golan Diamond Research &, Labor, Sanctions Locations: Antwerp, Belgium, Harrods, London, Paris, France, Jwaneng, Botswana

NEW DELHI/PARIS, June 20 (Reuters) - Record plane orders by India's top two carriers show the country's untapped potential for air travel and its rise as an aviation superpower, but recent airline failures and rows over regulations suggest progress may not be smooth. A day later, rival Air India firmed up an order for 470 Airbus and Boeing (BA.N) aircraft that, until Monday, had been the industry leading plane deal. LEASING CONCERNSBut while the opportunity in India is big, so are the risks, says Ameya Joshi, an independent aviation analyst. Leasing companies warn that restrictions on repossessing their assets in case of defaults will drive up costs for all Indian airlines - even for IndiGo and Air India. It will eventually help Indian airlines by lowering risk and moderating lease rental costs," said Joshi.

Persons: India's, Jyotiraditya Scindia, planemakers, Ameya Joshi, Joshi, Aditi Shah, Tim Hepher, Joanna Plucinska, Mark Potter Organizations: NEW, Paris, Airbus, Air India, Boeing, Air, CAPA India, planemakers, IndiGo, lessors, Thomson Locations: NEW DELHI, PARIS, Air India, India, New Delhi, outdoing U.S, Paris

☆ The Fed is about to decide whether or not to keep ramping up its fight against inflation
▼ + stars: | 2023-06-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Some anticipate the Fed will raise rates again in July in an attempt to bring inflation down to the 2% target. Even if the Fed forgoes a rate increase on Wednesday, Fed officials have suggested the Fed may hike rates again at later meetings. The survey also found people's expectations of job loss fell 1.3 percentage points to 10.9%, suggesting rising job market strength. "I do not think that wages are the principal driver of inflation," Fed Chair Jerome Powell told reporters after the Fed's May policy meeting. "For instance, recent evidence shows that wage growth tends to follow inflation, as well as expectations of future inflation."

Persons: —, it's, Jerome Powell, Adam Shapiro, Shapiro Organizations: Federal, Service, Committee, Fed, payrolls, Labor Statistics, Labor, Index, BLS, Bureau of Labor Statistics, Silicon Valley Bank, First Republic Bank, New York Federal Reserve, Federal Reserve Bank of San, National Federation of Independent Business Locations: Ukraine, Silicon, Federal Reserve Bank of San Francisco

☆ Astronauts’ brains take a hit during long spaceflights
▼ + stars: | 2023-06-08 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —Spaceflights lasting six months or longer take a toll on the brains of astronauts, and crew members may need to wait at least three years before returning to space, according to new research. Scientists compared the brain scans of 30 astronauts taken before spaceflights lasting two weeks, six months or a year with scans taken after they returned to Earth. During the analysis, the researchers determined that the degree to which the ventricles enlarged varied depending on how long the astronauts were in space. Seven of the astronauts with a shorter period of recovery between missions showed little ventricular enlargement after their most recent flight. However, astronauts have very specialized skill sets and training and there may be rationale to include them on additional missions before this time.”

Persons: CNN —, Artemis, ”, Rachael Seidler, Seidler, ” Seidler Organizations: CNN, International, Station, NASA, University of Florida, UF, Norman Fixel Institute, Neurological Diseases, “ Locations: ”

☆ Scientists document how space travel messes with the human brain
▼ + stars: | 2023-06-08 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

[1/2] The International Space Station (ISS) photographed by Expedition 56 crew members from a Soyuz spacecraft after undocking, October 4, 2018. Age-related ventricular enlargement - caused not by microgravity but by brain atrophy - can be associated with cognitive decline. This headward fluid shift likely results in ventricular expansion, and the brain sits higher within the skull." The study involved 23 male and seven female astronauts - average age around 47 - from the U.S., Canadian and European space agencies. Microgravity conditions also cause other physiological effects due to the reduced physical load on the human body.

Persons: Heather McGregor, Rachael Seidler, Seidler, McGregor, Will Dunham, Rosalba O'Brien Organizations: Space, Expedition, Soyuz, NASA, REUTERS, WASHINGTON, of Florida, University of, Thomson Locations: Handout, University of Florida, U.S

☆ Used car prices are falling as sales soften amid high interest rates
▼ + stars: | 2023-06-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Wholesale used vehicle prices reached their lowest level of the year in May, as sales fell amid high interest rates and inflated retail prices. The declines in sales and wholesale prices signal the used vehicle market is weakening, according to Cox. Used vehicle prices have increasingly become a barometer for inflation since early last year when the Biden administration blamed the market for rising inflation rates. The costs and scarcity of inventory led consumers to the used vehicle market, boosting those prices as well. Continued declines could help bring used vehicle pricing down for consumers, since retail prices traditionally follow changes in wholesale prices.

Persons: Chris Frey, Cox, That's, Biden Organizations: DETROIT –, Cox Automotive, U.S Locations: Glendale , California, DETROIT

☆ People probably have to be on Ozempic forever. But no one is ready for the bill.
▼ + stars: | 2023-06-02 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +9 min

But she knows — from experience — that probably won't be possible if she has to stop taking the drug once her manufacturer-issued coupons expire. But the injections don't work once people stop taking them. Li Ran/Xinhua via Getty ImagesMany health insurers and employers have long declined to pay for weight-loss drugs. He has resumed taking weight-loss medication but said he hoped to go down to a lower dose. Want to tell us about your experience with health insurance and weight-loss drugs?

Persons: Tara Rothenhoefer, Rothenhoefer, Eli Lilly's, Insider's Gabby Landsverk, —, Wegovy, Rothenhoefer Novo, we're, Dr, Martin Lange, Novo, Eli Lilly, Li Ran, Sean Duffy, Omada, Duffy, hungrier, Nisha Patel, it's, " Lange, Bill, Gabby Landsverk, Shelby Livingston, Hilary Brueck Organizations: Rothenhoefer Novo Nordisk, Novo Nordisk, Getty, National Library of Medicine Locations: San Francisco, Novo, Xinhua, slivingston

☆ How inflation and higher interest rates have reshaped car buying for many Americans
▼ + stars: | 2023-06-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The Federal Reserve's battle to taper inflation by ratcheting up interest rates is limiting who can afford to purchase a new or used vehicle. The rate hikes have many Americans lowering their buying expectations, opting for used vehicles over new, or fixing their current car or truck instead of purchasing a replacement. "We continue to see subprime buyers squeezed out of the auto market by the Fed repeatedly moving rates higher. At various points in 2018, subprime buyers made up more than 14% of new vehicle sales, while deep subprime buyers made up close to 10% of the market, according to Cox. This year, subprime buyers account for roughly 6% of new vehicle sales and deep subprime account for less than 2%, Cox reports.

Persons: Cox, Jonathan Smoke Organizations: Subaru, Cox Automotive, Fed Locations: Colma , California

But as some argue, in its quest to avoid another taper tantrum, the Fed delayed that two-pronged tightening too long, which has partly contributed to the stickiness of inflation today. This lengthy buildup may have averted another taper tantrum, but tied the Fed's hands on raising rates even as inflation was roaring back. Markets thought this not only meant the Fed would soon "taper" its bond purchases, but also raise interest rates. The Fed and markets have learned their lessons from the taper tantrum. Maybe the taper tantrum illustrates that it wasn't as planned and consistent as it should have been," he said.

☆ Quantitative tightening: What happens when $2 trillion is sucked out of the global economy
▼ + stars: | 2023-05-19 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

“Quantitative tightening,” or QT, by top central banks will suck $2 trillion in liquidity out of the financial system over the next two years, according to a recent analysis by Fitch Ratings. Investors and banks calibrate their strategies to the amount of money in the financial system, he noted. Then, central banks started withdrawing liquidity from the financial system. Even worse, many banks have large holes on their balance sheets because central banks have simultaneously jacked up interest rates. While government debt levels have skyrocketed in recent years, the cost of servicing that debt has been tamped down by the willingness of central banks to buy large chunks of it.

LAUNCESTON, Australia, May 19 (Reuters) - Chinese refiners dipped into crude oil inventories in April for the first time in 18 months, as high processing rates exceeded the volume of crude available from both imports and domestic output. The volume of crude available to refiners from imports and domestic output in April was 59.71 million tonnes, equivalent to 14.53 million bpd. For April, the total amount of crude available was 340,000 bpd below the volume processed by refiners, the first time since November 2021 that refiners have drawn on inventories. CRUDE IMPORTS RECOVEROn the crude import side the picture is more interesting, with April arrivals the lowest since January at 10.3 million bpd. For May, it seems likely that imports will recover, with Refinitiv Oil Research estimating arrivals of 11.83 million bpd, a jump of 1.53 million bpd from April's soft outcome.

Raymond James thinks Charles Schwab 's core business remains healthy despite concerns about the volatility in the banking system. Schwab's "core franchise [is] still healthy," the analyst wrote in a Monday note to clients. "Importantly, concerns about the stability of the banking system have not impaired Schwab's ability to attract new accounts and assets. In fact, net new accounts grew at a 4.3% annualized pace in 1Q23 while core net new assets grew at a 7.5% pace." To be sure, he noted that elevated cash sorting "is a stark reminder of the interest rate risk inherent within Schwab's business model."

☆ Instant View: US April CPI rise gives Fed little room for pivot soon
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +7 min

The Consumer Price Index (CPI) rose 0.4% last month after gaining 0.1% in March, the Labor Department said on Wednesday. In the 12 months through April, the CPI increased 4.9% after advancing 5.0% on a year-on-year basis in March. Ahead of this reading Fed President John Williams warned that they were not done raising rates. I think the Fed will raise rates again in June and then pause. "There will be another CPI report before the Fed meets, and expectations are you will start to see the effect of rents easing."

☆ US April CPI rise gives Fed little room for pivot soon
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +7 min

The Consumer Price Index (CPI) rose 0.4% last month after gaining 0.1% in March, the Labor Department said on Wednesday. In the 12 months through April, the CPI increased 4.9% after advancing 5.0% on a year-on-year basis in March. Ahead of this reading Fed President John Williams warned that they were not done raising rates. "There will be another CPI report before the Fed meets, and expectations are you will start to see the effect of rents easing." The other thing is shelter, a huge component of CPI and it came in a little bit weaker."

☆ AIB upgrades guidance after 70% jump in first quarter income
▼ + stars: | 2023-05-04 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

SummarySummary Companies Bank increases FY net interest income guidance by 10%New savings products to be introduced in H2CFO comfortable with market consensus for 2024, 2025DUBLIN, May 4 (Reuters) - Ireland's largest mortgage lender AIB (AIBG.I) revised its full year guidance upwards across the board on Thursday after its total income jumped 70% year-on-year in the first quarter due to record increases in official interest rates. The bank said it expects net interest income of 3.3 billion euros this year versus the 3 billion guided in March, increased its net interest margin forecast to above 2.70% from 2.40% and forecast 2023 return on tangible equity (ROTE) to be a high-teens percentage. A 215 million euro direct share buyback last week cut the government's stake in the bank to 53%. The bank's net interest margin (NIM), a key metric showing the profitability of its lending, rose to 2.78% in the first quarter versus 1.45% a year ago when it was still operating in a negative interest rate environment. AIB Chief Financial Officer Donal Galvin said the market consensus for NIMs of 2.40% and 2.50% in 2024 and 2025 seemed reasonable.

☆ Singapore's largest lender expects net interest margins will decline, but sees other growth drivers
▼ + stars: | 2023-05-02 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Singapore's largest lender DBS Group Holdings expects net interest income to taper off in the future, but the bank is confident that it can ride on other drivers going forward, such as a growth in loans and fee income. On Tuesday, DBS reported record revenue and net profit for the first quarter. DBS said this was due to "higher net interest margin, sustained business momentum and resilient asset quality." Net interest margin, or NIM, rose 66 basis points year-on-year to 2.12%, compared with 1.46% in the first quarter of 2022. Net interest income is a measurement comparing the interest income a firm generates from credit products like loans and mortgages, with the outgoing interest it pays out, such as to savings accounts or fixed deposits.

The 10.7% increase in prices was, however, lower than in recent quarters, adding to signs inflationary pressures might be easing as input costs declined. Packaged goods companies have been hiking prices as they grapple with a surge in costs of everything from sunflower oil and shipping to packaging and grain. Unilever reported a 10.5% rise in underlying first-quarter sales to 14.8 billion euros ($16.4 billion), beating analysts' average forecast for a 7.2% increase, according to a company-provided consensus. That included a 10.7% increase in prices and a 0.2% dip in volumes. Rivals P&G (PG.N) and Nestle (NESN.S) have also recently reported stronger than expected quarterly sales, with price hikes offsetting lower volumes.

☆ Bitcoin's nearing a breakout moment — prices topped $30,000 for the first time since June 2022
▼ + stars: | 2023-04-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Bitcoin has rallied above the $30,000 level for the first time since June 2022. The gains are driven by expectations the Fed could scale back its rate hikes, an analyst said. Bitcoin is up about 80% this year so far while Ether is up about 60% in the same period. Veteran trader Peter Brandt flagged the possible "breakout" on Twitter as Bitcoin was heading toward a key resistance level of $30,000. Teng's technical analysis of Bitcoin's chart shows prices nearing $35,000 if the upside price momentum continues.

☆ A top tip for central banks: talk less, smile more
▼ + stars: | 2023-04-11 | by ( Ben Winck | ) www.reuters.com time to read: +8 min

WASHINGTON, April 11 (Reuters Breakingviews) - Investors hang on central bankers’ every word, hoping to gain an edge for their next trade. But with consumer prices rising at the fastest pace in decades, central bankers can’t easily cut borrowing costs, either. Chatty central banks are a relatively new phenomenon. Investors are also more sensitive to central banks today than in years past. Still, being more careful about what’s said, and how it’s said, could help central banks better balance their priorities.

☆ The rise of remote work helped a former teacher with $80,000 in student debt switch to her dream job and get a $20,000 pay raise without moving
▼ + stars: | 2023-04-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Jackie Carbo thought her dream job in tech wasn't reachable, and she had more than $80,000 in student debt. But the rise of remote work made it possible for her to make a higher-paying career shift. The geographic flexibility is among the reasons researchers cite when explaining a correlation they have found between remote work and happier employees. She even decided to start a blog to document her travels and share tips about how to balance working remotely with traveling. Has remote work helped change your life?

☆ T. Rex Had Lizard-like Lips That Covered Its Teeth
▼ + stars: | 2023-03-30 | by ( Aylin Woodward | ) www.wsj.com time to read: 1 min

Conjure up an image of Tyrannosaurus rex in a Hollywood blockbuster. The meat-eating dinosaur’s long, serrated teeth taper to sharp points that protrude from a gaping maw bared wide in a roar. As the predator closes those jaws around its prey, its upper teeth remain exposed in a fanged smile. But new research is challenging these popular-culture depictions. The teeth of T. rex and its two-legged, three-toed meat-eating kin—known as theropods—were likely covered by thin, scaly lips resembling those of some modern lizards, according to a study published Thursday in the journal Science.

☆ How bad is the banking crisis?
▼ + stars: | 2023-03-20 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +7 min

The Fed along with five other central banks announced coordinated action to reassure global banks. To make sense of those acronyms, GFC refers to the global financial crisis of 2007 to 2009, EZ crisis is the Eurozone crisis of 2009 onwards, temper tantrum likely refers to the taper tantrum of 2013, and the Covid 3/20 shock is when global markets went haywire in the early stages of the pandemic. So, you might be wondering: Just how bad is the banking crisis? "It means the banking crisis we've seen over the past few weeks has started a new chapter rather than reaching its ending." After the 2008 financial crisis, the Bank of International Settlements (BIS) made it necessary for all European banks to issue CoCo bonds.

☆ Price hikes are double whammy for pet owners who are crushed by inflation
▼ + stars: | 2023-03-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

Minneapolis CNN —As head of PAWS Atlanta, Joe Labriola can get a good sense of the region’s economic well-being from the day-to-day activity of the city’s oldest no-kill animal shelter. And the shelves at PAWS Atlanta’s Pet Food Pantry quickly go bare. She said her pet food costs for Lola, her Australian Shepherd mix, and for Phoebe, her Golden Retriever, have doubled to $250 per month. Josh Fiala, Animal Rescue League of Iowa's Pet Support Services Manager, helps load pet food into a vehicle during a Pet Food Pantry in January 2022. Courtesy Animal Rescue League of IowaARL gave out about 40,000 pounds of pet food in both 2020 and 2021.

REUTERS/Rebecca Cook/File PhotoMarch 6 (Reuters) - American carmakers will lean on technology to keep the horsepower wars going among their electric muscle cars, a tectonic shift from the big, rumbling motors of the past. GM and Dodge have both issued timelines to stop selling gas-powered muscle cars and replace them with electric variants that will wear the same badges. Dodge's Charger and Challenger muscle cars will not be made next year, while Chevrolet has laid out plans for an electric Corvette. Brands such as Polestar and Mercedes-Benz (MBGn.DE) have announced optional power upgrades to their sedans that improve acceleration and total horsepower via paid OTA (over-the-air) software updates. Dodge has said it will transition its muscle cars to an electric platform, and is working to differentiate those models.

☆ Fed getting closer to terminal rate will taper the dollar rally, says BK Asset's Boris Schlossberg
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed getting closer to terminal rate will taper the dollar rally, says BK Asset's Boris SchlossbergBoris Schlossberg, managing director at BK Asset Management, joins 'The Exchange' to discuss the surprising strength of Monster Beverages' stock, strengthening currency implications on equities and international stocks benefiting from central bank policies.

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