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[1/9] Isabel Apaza and Gabriel Flores sail in their boat through a narrow water path near the shore of Lake Titicaca in Huarina, Bolivia, August 3, 2023. REUTERS/Claudia MoralesHUARINA, Bolivia, Aug 4 (Reuters) - The parched shoreline and shrinking depths of Lake Titicaca are prompting growing alarm that an ago-old way of life around South America's largest lake is slipping away as a brutal heat wave wreaks havoc on the southern hemisphere's winter. Like many places suffering deadly consequences of climate change, the sprawling freshwater lake nestled in the Andes mountains on Bolivia's border with Peru now features a water level approaching an all-time low. Globally, July was the hottest month on record, as prolonged dry spells take an especially heavy toll on humans and animals alike. "I don't know what we're going to do any more since we don't have food for our cows or lambs."
Persons: Isabel Apaza, Gabriel Flores, Claudia Morales HUARINA, Lucia Walper, Monica Machicao, Santiago Limachi, Sergio Limachi, Valentine Hilaire, David Alire Garcia, Nick Macfie Organizations: REUTERS, Farmers, Bolivia's Oruro Technical University, International Monetary Fund, Thomson Locations: Lake Titicaca, Huarina, Bolivia, Titicaca, South America's, Peru, Gabriel Flores ., South America, Uruguay, Montevideo, shriveled
The data bolsters the chances the BOJ will revise up this year's inflation forecast in fresh projections due next week. Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA), said the market expectations for a BOJ policy tightening have ebbed and flowed over the past year. More than three-quarters of economists polled by Reuters expect the BOJ to hold policy steady including its yield control scheme. The yen has slipped about 1% against the dollar this week and is on course to snap its two-week winning run. The onshore yuan firmed against the dollar and was last at 7.1693 per dollar after the central bank set a much stronger guidance than expected.
Persons: Carol Kong, Kong, Kazuo Ueda, Scherrmann, Ankur Banerjee, Sam Holmes Organizations: Federal Reserve, Bank of Japan's, Commonwealth Bank of Australia, Reuters, Sterling, Fed, European Central Bank, Thomson Locations: SINGAPORE, Central, Europe, Japan, United State, U.S, Singapore
The data bolsters the chances the BOJ will revise up this year's inflation forecast in fresh projections due next week. Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA), said the market expectations for a BOJ policy tightening have ebbed and flowed over the past year. "The window for the BOJ to tighten policy is narrowing," Kong said, adding that CBA's base case is for the BOJ to keep monetary policy unchanged this year. The yen has slipped about 1% against the dollar this week and is on course to snap its two-week winning run. Against a basket of currencies, the dollar rose 0.03% at 100.78, after gaining 0.5%.
Persons: Carol Kong, Kong, Kazuo Ueda, Ryan Brandham, Ankur Banerjee, Sam Holmes Organizations: Federal Reserve, Bank of Japan's, Commonwealth Bank of Australia, Validus Risk Management, Fed, European Central Bank, Thomson Locations: SINGAPORE, Central, Europe, Japan, United State, North America, U.S, Singapore
Dollar bills and Japanese currency Yen lying on a table on August 03, 2016 in Berlin, Germany. The data bolsters the chances the BOJ will revise up this year's inflation forecast in fresh projections due next week. Carol Kong, a currency strategist at Commonwealth Bank of Australia, or CBA, said the market expectations for a BOJ policy tightening have ebbed and flowed over the past year. The yen has slipped about 1% against the dollar this week and is on course to snap its two-week winning run. Against a basket of currencies, the dollar rose 0.03% at 100.78, after gaining 0.5%.
Persons: Carol Kong, Kong, Kazuo Ueda, Ryan Brandham Organizations: Federal Reserve, Bank of Japan's, Commonwealth Bank of Australia, Validus Risk Management, Fed, European Central Bank Locations: Berlin, Germany, Central, Europe, Japan, United State, North America, U.S
Summer travel can be done on a budget, but for the world's wealthiest people, no expense is spared. Top travel agents shared the hottest spots they're seeing this year, from Paros to the Côte d'Azur. Instead, look to the elite group of agents who help wrangle those jaunts and cater to the wealthiest, most demanding vacationers. Courtesy of John CliffordJohn Clifford in San Diego runs International Travel Management and has expertise with LGBTQ+ travel. Insider asked these travel professionals to share the secrets of where and how the richest 1% are vacationing in summer 2023.
Persons: they've, Jules Maury, Jules Maury Jules Maury, Scott Dunn, John Clifford, John Clifford John Clifford, Edward Granville ., Edward Granville Edward Granville, Granville, Maury, I've, Clifford, he's, Côte, they're, We've, Rod, it's, Paros, It's, Cosme, Parilio, Avant, she's, she'd, Milos Organizations: Côte, Service, San Diego, Travel Management, d'Azur, Porto Heli, Italy, Avant Mar, HBO, Domenico Palace Locations: Paros, Wall, Silicon, San, Red Savannah, London, COVID, Europe, Cannes, France, Africa, Botswana, Namibia, Botswana's Okavango Delta, Kenya, Porto, Greece, Italy, Spain, Athens, Amalfi Coast, Rome, Sicily, Domenico
Morning Bid: Dollar swoons in upbeat inflation vigil
  + stars: | 2023-07-12 | by ( ) www.reuters.com   time to read: +4 min
A look at the day ahead in U.S. and global markets from Mike DolanWorld markets leaned positively into another critical U.S. inflation report later on Wednesday, seeding a dollar (.DXY) slide to two-month lows that's revved-up yen and sterling gains. And June's CPI readout should be a marker if the consensus forecast for almost a full percentage-point drop in the headline inflation rate to two year lows of just 3.1% is borne out. Still, encouraged by a screed of other positive disinflation signals this week, U.S. markets are relatively buoyant going into the release and still feel the end of the Fed rate rise campaign is nigh. UK bank stocks pushed higher on the rates view and a relatively clean bill of health from Wednesday's financial stability report from the BOE. The Reserve Bank of New Zealand paused its long-running rate rise campaign early on Tuesday.
Persons: Mike Dolan, BOE, Thomas Barkin, Raphael Bostic, Neel Kashkari, Loretta Mester, Joe Biden, Nick Macfie Organizations: Federal Reserve, Fed, yearend, Treasury, Bank of Japan, Bank of, recoiling, Reserve Bank of New Zealand, Bank of Canada, Japan's Nikkei, Microsoft, Activision, Richmond Federal, Atlanta Fed, Minneapolis Fed, Cleveland Fed, NATO, . Treasury, Reuters, Reuters Graphics, Thomson Locations: U.S, Asia, Shanghai, Hong Kong, British, Vilnius
After soaking up all the tension for close to three hours, world number 76 Svitolina finally toppled 19th seed Azarenka with an ace on her second match point and promptly collapsed onto her back in her moment of triumph. Bizarrely, the crowd booed Azarenka as she left the court, obviously not realising the reason why the Belarusian did not offer Svitolina the obligatory post match handshake. "I thought it was a great tennis match. Svitolina frustrated Azarenka for over 11 minutes in the fourth game of the match which dragged on for five deuces, with the Ukrainian missing a break point chance in the process. Seconds later she had levelled the contest after Azarenka swiped a forehand long to surrender her serve.
Persons: Ukraine's Elina Svitolina, Victoria Azarenka, Toby Melville LONDON, Elina Svitolina, Svitolina, Martina Navratilova, Azarenka, misfiring, Azarenka swiped, Skai, trickled, Pritha Sarkar, Ken Ferris Organizations: Lawn Tennis, Croquet Club, Belarus, Victoria, Victoria Azarenka REUTERS, Wimbledon, Azarenka, Belarusian, Thomson Locations: London, Britain, Belarusian, Ukraine, Moscow, Belarus
July 3 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Purchasing managers index (PMI) reports on Monday from across the Asia-Pacific region, including China, India, South Korea and Australia, will give the first glimpse into private sector services and factory activity in June. Monday's Asian economic calendar is dominated by a raft of manufacturing PMIs including China's, Indonesian inflation, Japan's 'tankan' business sentiment survey for the second quarter, and Australian housing. China's Caixin manufacturing PMI is expected to fall to 50.2 from 50.9, signaling a slowdown in factory sector growth almost the point of stagnation. The official PMI, expected to show a third month of contraction, will be released on Friday.
Persons: Jamie McGeever, Josie Kao Organizations: Japan's Nikkei, U.S, PMI, Equity, Indonesia CPI, Thomson, Reuters Locations: Asia, Japan, Pacific, China, India, South Korea, Australia, Indonesia, Thailand, Philippines, Taiwan, Malaysia
[1/2] A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. China's long-awaited rules for offshore stock exchange listings form part of a regulatory tightening on cross-border listings after years of a laissez-faire approach. REGULATORY 'BLACKBOX'The new listing regime requires CSRC to respond within 20 working days upon accepting an issuer's listing filing. Submitting additional materials can be time-consuming and thus delay the listing process, said bankers and lawyers. Reporting by Scott Murdoch in Sydney and Kane Wu in Hong Kong; Additional reporting by Selena Li in Hong Kong; Editing by Sumeet Chatterjee and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
Persons: Tingshu Wang, JD.com, Scott Murdoch, Kane Wu, Selena Li, Sumeet Chatterjee, Muralikumar Organizations: China Securities Regulatory Commission, REUTERS, China, U.S, iMotion Automotive Technology, Reuters, Thomson Locations: China, Beijing, Hong Kong, SYDNEY, HONG KONG, Suzhou, Sydney
Morning Bid: World markets calm after Russia drama
  + stars: | 2023-06-26 | by ( ) www.reuters.com   time to read: +5 min
More perplexed by events than anything else, world markets stayed relatively calm on Monday after a dramatic Russian military mutiny at the weekend was uneasily quelled. For Russian markets themselves, the rouble slipped to 15-month lows - but it too had been falling last week as oil prices ebbed. Largely now isolated from western investment, Russian stocks fell about 1%. U.S. Treasury yields slipped lower, perhaps with a smidgen of a safety bid from the weekend events helping too. Turkey's lira slid again to record lows after the central bank took steps to simplify rules governing lenders' holdings and foreign deposits after a sharp but underwhelming interest rate rise last week.
Persons: Mike Dolan, uneasily, Vladimir Putin, Leonardo, Raphael Bostic, James Bullard, Loretta Mester, Ed Osmond Organizations: Wall, Saab, Rheinmetall, Brent, . U.S, Treasury, Bank for International Settlements, HSBC, Dallas Federal, Central Bank, Central Banking, Atlanta Federal Reserve, St Louis Fed, Cleveland Fed, PMI, Thomson, Reuters Locations: U.S, Ukraine, Moscow, Shanghai, Europe, United States, ., Canary Wharf, London, Sintra, Portugal
Although Swiss inflation ebbed to 2.2% in May from 2.6% in April, there was still more work to be done to tackle rising prices, Jordan told reporters. Although modest by international standards, Swiss inflation has remained above the SNB's 0-2% target range since February 2022. Reuters GraphicsThe latest SNB hike followed an increase by the European Central Bank, which last week raised euro zone borrowing costs to their highest level in 22 years. Reuters Graphics Reuters GraphicsEven with the Thursday's rate increase, the SNB forecast Swiss inflation would remain above its 0-2% target by 2026. "Before today's meeting, I thought that this rate hike was going to be the last of the cycle," she said.
Persons: Thomas Jordan, Jordan, Gero Jung, Charlotte de, John Revill, Noele, Maria Sheahan, Tomasz Janowski Organizations: Swiss National Bank, Swiss, Reuters, European Central Bank, U.S . Federal Reserve, Reuters Graphics Reuters, Charlotte de Montpellier, ING, Thomson Locations: ZURICH, Switzerland
CNN —Australia managed to steal victory from England’s in the first game of the 2023 Ashes series on Tuesday and take the first bragging rights in cricket’s biggest rivalry. Ryan Pierse/Getty ImagesCaptain fantasticUp against ‘Bazball’ stood Australia and a more traditional style of Test match cricket. “This is why the ‘Bazball’ mentality is so important because they are coming up against an incredibly good team,” Miller said after England’s loss. “These guys ripped England apart in the last Ashes 4-0 and England were lucky to lose 4-0. The second game of the five game series will begin on Wednesday, June 28 at the famous cricket ground Lord’s in London.
Persons: Pat Cummins, , Ben Stokes, Brendon ‘ Baz ’ McCullum, , Stokes, Joe Root’s, Joe Root, Stu Forster, Andrew Miller, CNN Sport’s Don Riddell, McCullum’s, “ It’s, Baz McCullum, ” Miller, Phillip Hughes, let’s, ‘ We’ve, “ We’re, haven’t, ” Ben Stokes, Ryan Pierse, ‘ Bazball ’, Cummins, , Nathan Lyon, Lyon, Australia's Nathan Lyon, Geoff Caddick, Miller, McCullum, Mike Egerton, we’re, “ We’ve Organizations: CNN — Australia, Edgbaston Cricket, England, Getty, CNN, McCullum’s New Zealand, New, India, Australia Locations: England’s, Birmingham, Australia, England, New Zealand, Australian, AFP, London
China's top graft-busting watchdog earlier this year vowed to eliminate ideas of a Western-style "financial elite" and rectify the hedonism of excessive pursuit of "high-end taste". Industrial and Commercial Bank of China (ICBC) (601398.SS) and China Construction Bank Corp (CCB) (601939.SS) plan to cut some allowances of employees at the banks' headquarters from this year, two sources familiar with the matter said. Domestic rival China International Capital Corp (CICC) (3908.HK) last month cut this year's bonuses for investment bankers by 30%-50% from a year earlier, Reuters has reported, citing sources with knowledge of the matter. Besides anti-corruption crackdown and "common prosperity" drive, financial firms are also reining in the flashy lifestyle of their staff to make sure they are not violating the Communist Party's ideology, said industry officials. China's securities regulator and the central bank cut the budget allocation for employee salaries in 2023, following reforms ordered as part of a broader drive to reduce income disparity, Reuters reported last month.
Persons: Xi Jinping's, CCB, Xin Sun, Sun, Xie Yu, Julie Zhu, Selena Li, Ziyi Tang, Binbin Huang, Rong Ma, Sumeet Chatterjee, Lincoln Organizations: Industrial, Commercial Bank of China, China Construction Bank Corp, Securities, Reuters, China International Capital Corp, HK, Party, King's College London, Thomson Locations: China, HONG KONG, Beijing, Hong Kong, Shanghai
Home flips are generating more profit but on fewer properties, according to Toorak Capital Partners. The investors, Beacham said, just have to be pickier. Investors are far more discriminating of the limited inventory because they see their own costs rising, Beacham said. Flippers have to be more mindful of the slowdown in home price appreciation, or home price declines, too. To be sure, some of the risks for flippers have eased, according to Beacham.
Persons: , John Beacham, Beacham, Aria Khosravi, who's, Alan Blue, Insider's Kathleen Elkins, Topping, Khosravi Organizations: Toorak Capital Partners, Service, Toorak, KKR, Investors, US Bureau of Labor Statistics Locations: Toorak
Stock Market Today: Dow Futures Hover, Oil Prices Fall
  + stars: | 2023-06-06 | by ( ) www.wsj.com   time to read: +1 min
Stock futures are flitting between small gains and losses, while oil prices are slipping, unwinding gains that followed the OPEC+ meeting. A modest gain in regular trading would be enough to pull the S&P 500 out of its longest bear market since the 1940s. U.S. stock futures ebbed. Prices for bitcoin and other digital tokens had fallen Monday, after the SEC sued Binance, the world's largest crypto exchange. Hong Kong’s Hang Seng Index slipped 0.2% while the Shanghai Composite index fell 1.2%.
Persons: Dow, Brent, Binance Organizations: Dow industrials, Nasdaq, Organization of, Petroleum, SEC, Nikkei Locations: OPEC, Saudi Arabia, Europe, Shanghai
Jacinda Ardern made a dame in New Zealand
  + stars: | 2023-06-05 | by ( Jessie Yeung | ) edition.cnn.com   time to read: +3 min
CNN —Former New Zealand leader Jacinda Ardern, who stepped down from her post earlier this year, has been made a dame in one of the country’s highest honors. “Having served as Prime Minister from 2017 to 2023, Dame Jacinda Ardern is recognized for her service to New Zealand during some of the greatest challenges our country has faced in modern times,” Hipkins said in a statement. The move grants Ardern the title of Dame Grand Companion of the New Zealand Order of Merit. In a statement to CNN affiliate Radio New Zealand (RNZ), Ardern said she was “incredibly humbled” by the accolade. Within a year, she had become only the second world leader to give birth in office.
Persons: Jacinda Ardern, Chris Hipkins, Dame Jacinda Ardern, ” Hipkins, Dame, , Ardern, Organizations: CNN, Former New Zealand, Labour Party, Merit, Radio New Zealand, Kiwis, United Nations General Assembly, Harvard University, Harvard Kennedy School, New Locations: New Zealand, Zealand, Christchurch, Wellington
During the first year of Russia’s war in Ukraine, the Biden administration fretted constantly that if Kyiv hit back inside Russian borders, President Vladimir V. Putin would retaliate against not only Ukraine, but also possibly NATO and the West. As Ukraine’s counteroffensive edges closer, a series of bold attacks in Russia, from a swarm of drone attacks in Moscow to the shelling of towns in the Belgorod region bordering Ukraine and an incursion into the country using American-made armored vehicles, have been greeted by the Biden administration with the diplomatic equivalent of a shrug. On Monday, fighters attacked at least 10 villages in the Belgorod region with heavy shelling, its governor said. Behind closed doors, senior administration officials have seemed even less fazed. “Look, it’s a war,” one senior Pentagon official said last Thursday.
Persons: Biden, Vladimir V, Putin, “ It’s, John F, Kirby, Organizations: Kyiv, NATO, National Security Council, Pentagon Locations: Ukraine, Russia, Moscow, Belgorod, Ukrainian
The meeting comes as Russia continues to pump cheap crude oil into the global market. Tensions have risen as cheap Russian oil drives crude below a key break-even level for Saudi Arabia. "The OPEC+ meeting on June 4 should be pivotal," investor Louis Nevallier wrote in a note on Friday. Nevallier said that he expects a "very assertive" Saudi Arabia to show up to the meeting. The report said the country's budget needs international oil prices to stay above $81 a barrel.
Persons: , Louis Nevallier, ussia, Nevallier, there's, Brent Organizations: Service, Reuters Locations: Russia, Saudi Arabia, OPEC, Saudi, India, Riyadh, Ukraine
Broadly, U.S. consumer spending trends showed resilience in the face of high inflation, but big-ticket purchases suffered. Upscale retailer Macy's said the U.S. consumer pulled back more than anticipated and slashed its annual sales and profit forecasts for the year. Macy's and lingerie brand Victoria's Secret & Co (VSCO.N) are resorting to more discounts to clear out excess inventory. "Our business in North America became increasingly more challenging," Victoria's Secret CEO Martin Waters said during a post earnings call on Thursday. The pinch from slowing consumer spending was not just limited to high-end retailers.
Persons: Macy's, Hogan, Martin Waters, they're, Nordstrom, Peter Nordstrom, Dr Martens, Arun Sundaram, Aishwarya Venugopal, Savyata Mishra, Shinjini Organizations: U.S, Goods, Riley, Nordstrom Inc, Discount, CFRA Research, Thomson Locations: U.S, North America, United States, Bengaluru
The easiest trade of the year is fizzling, and the lost momentum is keeping investors' money out. "I will not put any more money into stocks until all my losses are recovered," he said. Interviews with a dozen more small investors showed the sentiment to be reasonably widespread. Brokerage account creation, while volatile, likewise dropped off in April after promising momentum in February and March, China Securities Depository and Clearing data showed. "It is as if stocks are losing faith in the China recovery story," said Grow Investment Group chief economist Hong Hao.
The easiest trade of the year is fizzling, and the lost momentum is keeping investors' money out. Interviews with a dozen more small investors showed the sentiment to be reasonably widespread. Brokerage account creation, while volatile, likewise dropped off in April after promising momentum in February and March, China Securities Depository and Clearing data showed. "It is as if stocks are losing faith in the China recovery story," said Grow Investment Group chief economist Hong Hao. China's April industrial output and retail sales growth undershot forecasts as the recovery turned wobbly.
Persons: Eric Yu, Yi Huiman, Hong Hao, Wang Zaizheng, Chi Lo, Hayden Briscoe, Meng, Jason Xue, Winni Zhou, Tom Westbrook, Shri Navaratnam Organizations: China Securities Regulatory, JPMorgan, China Securities Depository, Mutual, Grow Investment Group, Management, UBS Asset Management, Thomson Locations: SHANGHAI, SINGAPORE, China's, Shanghai, China, United States, Hong Kong, Asia, Pacific, Singapore
But market breadth, or the measure of how wide-reaching a rally is, has ebbed. CanaccordGenuity technical analyst Javed Mirza said in a note to clients on Monday that an "intermediate-term equity market correction looms" if market breadth does not improve. Over the past three months, the Nasdaq 100 has gained more than 18%, and the S & P 500 has advanced nearly 6%. Meanwhile, the Invesco S & P 500 Equal Weight ETF (RSP) has fallen more than 3%. According to Bespoke Investment Group, 90 stocks in the S & P 500 have hit 52-week highs this month.
To be sure, the April inflation data hit the UK debt market like a thunderbolt. While the headline consumer price inflation rate dropped to 8.7% from 10.1% in March, as energy prices ebbed, that was still far higher than forecast and core inflation rates hit their highest in 31 years at just under 7%. And a chief concern for many households is ongoing annual food price inflation still near 20%. Sterling and real yield spreadsNew UK gilt shock? Using 5-year real yields from the index-linked bond market, that premium jumped almost 40bp this week to its highest since last October.
Deep in the Amazon, scientists race to find unknown bat viruses
  + stars: | 2023-05-19 | by ( ) www.reuters.com   time to read: +8 min
Some scientific studies have found that deforestation causes stress in bats, and stressed bats carry more viruses and shed more germs in their saliva, urine and feces. It spiked following the highway’s construction, making the Amazon in the early 1980s a rallying cry for the global environmental movement. When examining spillover risk, scientists use the number of bat species in a given area as a key variable. When humans encroach on their habitat, and bat species commingle, the viral cocktail intensifies. “Odds of it being documented are very slim,” said Caio Graco Zeppelini, an ecologist and bat researcher at the Federal University of Bahia.
Investors were closely monitoring the debt ceiling negotiations in Washington for signs that Democrats and Republicans might be inching closer to a deal. Optimism about debt ceiling talks ebbed and flowed, with hopes for a deal that avoids a catastrophic default. European stocks closed higher and the German DAX rose to its highest level since January 2022 on optimism about the U.S. debt ceiling talks. The greenback extended its ascent against a basket of world currencies, reaching a seven-week high, powered by the economic data and debt ceiling hopes. Gold moved in opposition to the dollar, with the precious metal losing some luster as the economic data lowered the likelihood of a Fed rate cut before year-end.
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