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☆ Over 1,400 flights canceled as major winter storm threatens to produce historic snowfall
▼ + stars: | 2023-02-22 | by ( Chantal Da Silva | David K. Li | ) www.cnbc.com time to read: +3 min

Rush hour traffic travels southbound on Interstate 35W in Minneapolis as a winter storm hit the Twin Cities Tuesday, Feb. 21, 2023. The National Weather Service issued winter storm, blizzard and high-wind advisories for swaths of the western and the north-central U.S., with up to 2 feet of snow expected in some areas through Thursday. 'Numerous weather hazards'Residents warned to 'limit travel'"We're working to ensure we're ready — and Minnesotans have a part to play, too. Schools across the state also announced closures, with Minneapolis Public Schools saying on its website that all its buildings would be closed "due to the upcoming winter storm." Heavy winds and power outagesCalifornia is also facing winter weather, with winds that began Tuesday expected to bring possible rain, snow and hail to parts of the state.

☆ Singapore faces a 'delicate balancing act' amid weak economy and inflation, says deputy PM
▼ + stars: | 2023-02-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

watch nowSINGAPORE — Setting Singapore's budget was challenging this year, as it required a "very delicate balancing act" to ensure fiscal prudence while helping Singaporeans deal with rising costs, Finance Minister Lawrence Wong told CNBC in an exclusive interview. "It's particularly challenging this year, because it really was a very delicate balancing act to manage due to the different competing demands and pressures," Lawrence Wong, who is also deputy prime minister, said Wednesday, a day after announcing Singapore's budget to Parliament. But yet, we can't taper down too quickly, because the economy is still weak," Wong told CNBC's Martin Soong on "Squawk Box Asia." Our economy has recovered back to pre-Covid levels, but our fiscal position is still quite weak, and it is still very tight. Lawrence Wong Singapore foreign ministerSingapore expects a slight deficit of $2 billion Singapore dollars ($1.5 billion), or 0.3% of GDP, for fiscal year 2022.

Disney said Wednesday it is planning to reorganize into three segments, while also cutting thousands of jobs and slashing costs. Disney executives said about $1 billion in cost cutting was already underway since last quarter. Disney also said it would be eliminating 7,000 jobs from its workforce. Chapek's removal came shortly after Disney had reported its fiscal fourth quarter earnings, disappointing on profit and certain key revenue segments. He had also told employees shortly thereafter that Disney would be cutting costs through hiring freezes, layoffs and other measures.

☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Target, Walmart, Microsoft, Roku & more
▼ + stars: | 2023-02-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: CFRA downgrades Roku to sell from hold CFRA said it sees "challenging fundamentals" for Roku . Piper Sandler reiterates Target as overweight Piper said Target is a key beneficiary of Bed Bath & Beyond struggles. Bank of America reiterates Chipotle as buy Bank of America said it sees more earnings per share upside after the company's earnings report on Tuesday. Bank of America reiterates Domino's as buy Bank of America said it's bullish on Domino's launch of loaded tater tots. Bank of America reiterates Microsoft as buy Bank of America said it's bullish long-term on Microsoft's venture into AI.

☆ Valentine's Day spending boosts British retail sales in February - BRC
▼ + stars: | 2023-02-07 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

[1/2] A woman photographs a Valentines Day floral display attached to the facade of a restaurant in London, Britain, February 13, 2023. REUTERS/Peter NichollsLONDON, March 7 (Reuters) - Valentine's Day helped to boost British retail sales in February but volumes remained down on last year as households cut back on non-essential items, a survey published on Tuesday showed. The British Retail Consortium (BRC) said spending in store chains increased 5.2% in annual terms last month, well below the 6.7% rise in February 2022. The BRC figures are not adjusted for inflation, meaning the rise in sales masked a much larger drop in volumes. "Popular trends this month include buying 'dupes' of popular products, shopping at discount stores, and limiting Easter spending."

In Insider's Real Retirement series, we ask regular people approaching or in retirement what they'd wished they'd known about being prepared to stop working. The retirees featured below reached the finish line, but they made and saw some mistakes along the way. In Business Insider's Real Retirement series, retirees share their best advice on retirement, what worked for them, and sometimes, what didn't work for them. "Find a good financial planner or retirement planner," he said, "and begin to taper off your equity allocation, aiming towards 40% or 50% when you retire." Don't put off savingDavid Fisher, who retired at 65, didn't think much about retirement when he was younger.

☆ Analysis: Hawkish Fed could hobble volatility funds’ stock buying spree
▼ + stars: | 2023-02-01 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

The S&P 500’s (.SPX) 6.2% surge in January has been accompanied by a drop in measures of volatility across the board. The drop in market gyrations has triggered a buy-signal for certain computer-driven strategies including volatility control funds, risk parity funds and Commodity Trading Advisors (CTAs). Volatility control funds have raised their equity allocation to a nine-month high of 57.7%, strategists at Deutsche Bank wrote on Friday. Grinacoff, of BNP Paribas, estimates volatility control funds have assets of about $275 billion, while CTAs, not all of which have a volatility control strategy, as a group have $800 billion allocated across strategies. "Market volatility measured by VIX remains stuck above the 18 level, which is its long-term average.

☆ Oil prices steady after smaller-than-expected U.S. crude build
▼ + stars: | 2023-01-25 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

SummarySummary Companies Smaller-than-expected build in U.S. crude stocksBroader markets weighed by economic slowdown concernsU.S. business activity contracts in JanuaryOPEC+ unlikely to tweak oil policy at Feb. 1 meetingBENGALURU, Jan 25 (Reuters) - Oil prices were largely unchanged on Wednesday, after government data showed a smaller-than-anticipated build in U.S. crude inventories, countering weak economic data from Tuesday. Brent crude was up 25 cents, or 0.3%, to $86.38 a barrel by 1:41 p.m. EST (1841 GMT) after declining 2.3% in the previous session. U.S. West Texas Intermediate crude futures were up 49 cents, or 0.6%, to $80.62 a barrel, after a 1.8% drop on Tuesday. "If we look at crude, the increase in stocks was much smaller-than-anticipated, and that is raising concerns about tightness in supply. On Wednesday, oil prices and broader financial markets were weighed down by data published on Tuesday showing U.S. business activity contracted in January for the seventh-straight month, raising concerns about an economic slowdown.

☆ Oil slips as U.S. inventory rise offsets China hopes
▼ + stars: | 2023-01-25 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

The price of crude has rallied this year on the ending of China's COVID controls and hopes that the rise in U.S. interest rates will soon taper off. Still, some analysts said the speed of China's actual demand rebound looks uncertain. "Whether or not oil prices can resume their march higher will depend on how quickly China's crude demand bounces back this quarter," said Stephen Brennock of oil broker PVM. An OPEC+ panel is likely to endorse the group's current policy at a Feb. 1 meeting, five OPEC+ sources said on Tuesday. OPEC+ in October decided to trim output by 2 million barrels per day from November through 2023 on a weaker economic outlook.

☆ Asian stocks make 7-month highs, Australian dollar gains on hot inflation
▼ + stars: | 2023-01-25 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 25 (Reuters) - Asian equities scaled their highest levels in seven months on Wednesday after some regional markets reopened after holidays, and the Australian dollar hit multi-month highs as surging inflation made higher interest rates more likely. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.2% to a seven-month high but traded below the day's peak. Globally, stocks have posted strong gains this year after a torrid 2022, based on expectations that inflation is close to peaking and the rise in U.S. interest rates will taper off. Stronger-than-expected economic data in Europe eased market worries of a sharp recession there, but interest rates are still seen creeping higher despite declining energy prices reducing inflationary pressure. The New Zealand dollar slid after New Zealand reported annual inflation of 7.2% in the fourth quarter, below a central bank forecast of 7.5%.

☆ Asian stocks rise to 7-month highs, hot inflation boosts Australian dollar
▼ + stars: | 2023-01-25 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 25 (Reuters) - Asian equities extended their winning run to scale their highest levels in seven months on Wednesday, with South Korean stocks leading the way, and the Australian dollar hit multi-month highs as surging inflation made higher interest rates more likely. Globally, stocks have posted strong gains this year after a torrid 2022, based on expectations that inflation is close to peaking and the rise in U.S. interest rates will taper off. Stronger-than-expected economic data in Europe has eased market worries of a sharp recession in the euro zone as energy prices decline, though interest rates are still seen creeping up. Analysts had thought there was some chance the RBA might even pause its tightening campaign, but the pace of inflation put paid to that. Gold prices held steady at $1,938 per ounce, hovering near a nine-month peak touched in the previous session.

☆ Oil edges up after less-than-expected U.S. inventories rise
▼ + stars: | 2023-01-25 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

U.S. West Texas Intermediate crude futures were up 39 cents, or 0.5%, to $80.52 a barrel, after a 1.8% drop on Tuesday. U.S. crude inventories (USOILC=ECI) rose by 533,000 barrels in the last week to 448.5 million barrels, the Energy Information Administration (EIA) said on Wednesday. "If we look at crude, the increase in stocks was much smaller-than-anticipated, and that is raising concerns about tightness in supply. An OPEC+ panel is likely to endorse the group's current policy at a Feb. 1 meeting, OPEC+ sources said on Tuesday. OPEC+ in October decided to trim output by 2 million barrels per day from November through 2023 on a weaker economic outlook.

☆ There's a 61% chance of recession this year, economists say—what that means for your money
▼ + stars: | 2023-01-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

Stop us if you've heard this one before: A lot of people think the economy may be headed for a recession. It's everywhere: A recent poll of economists from the Wall Street Journal pegged the recession chances in 2023 at 61%. Even 96-year-old former Federal Reserve Chairman Alan Greenspan has weighed in, saying that a recession is "the most likely outcome" given the current economic trajectory. A short, shallow recession may be priced into marketsEconomists aren't the only ones who have recession on the brain. Overall, investors and economists alike expect a "fairly mild kind of recession, " says Sam Stovall, chief investment strategist at CFRA.

☆ The best beard trimmers, according to experts
▼ + stars: | 2023-01-19 | by ( Harry Rabinowitz | Harry Rabinowitz Is A Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +9 min

Short or long, they can enhance your look quickly!”SKIP AHEAD The best beard trimmers | Professional beard care tipsWe spoke with hair care professionals who shared with us their top beard trimmers as well as tips on keeping a beard healthy and tidy. How to shop for a beard trimmerLike most personal care products, there are an overwhelming amount of beard trimmers on the market. PowerOur experts recommend beard trimmers that are cordless with rechargeable internal Lithium-ion batteries rather than traditional corded trimmers. WaterproofingMost beard trimmers aren’t waterproof, and trimming your beard while wet can lead to some uneven results (take it from me). The best beard trimmersWe spoke with experts about their favorite beard trimmers and other beard-care essentials.

☆ Mortgage rates fall to levels last seen in September
▼ + stars: | 2023-01-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

“As inflation continues to moderate, mortgage rates declined again this week,” said Sam Khater, Freddie Mac’s chief economist. But mortgage rates dropped in November and December, following data that showed inflation may have finally reached its peak. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “While our 2023 forecast anticipates ongoing inflation causing upward pressure on rates, recent favorable data has helped to pull mortgage rates down,” said Xu.

☆ Key moments in BOJ's monetary policy
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +3 min

1999February - BOJ introduces zero interest rate policy. 2000August - BOJ raises short-term target to 0.25%, a move criticised as premature as Japan suffers a domestic banking crisis. 2001March - BOJ adopts quantitative easing (QE), shifts policy target from interest rates to pace of money printing. 2016January - BOJ adds negative interest rate policy, and applies a 0.1% charge to a small pool of excess reserves financial institutions park with the central bank. July - BOJ eases monetary policy, ramps up ETF buyingSeptember - BOJ adopts yield curve control (YCC), shifts policy target to interest rates from pace of money printing and introduces 10-year bond yield target of around 0%.

☆ China's economy looks set for a rebound in 2023, but a lot depends on one variable, KraneShares says
▼ + stars: | 2023-01-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

China's gross domestic product grew 3% in 2022, less than half of 2021's rate. China's economy looks poised for a rebound in 2023, but a lot depends on one variable — the consumer, said investment management firm KraneShares. "We believe the reopening may lead to a V-shaped recovery in the share prices of China's consumer brands in early 2023. "The fallout from regulatory changes affecting the real estate development industry lingered longer than expected despite a commitment from the government to stabilize the sector," Chen said. China's real estate market slowed down sharply in 2022 as the government tightened restrictions on borrowing by developers.

☆ Swedish inflation runs red hot in December, raising pressure on Riksbank
▼ + stars: | 2023-01-13 | by ( Johan Ahlander | ) www.reuters.com time to read: +2 min

Analysts in a Reuters poll had forecast headline inflation of 9.9% while the Riksbank saw annual price increases running at 9.1% in its most recent forecast in November. The central bank targets 2 percent CPIF inflation. "This means that headline inflation will probably be close to the Riksbank's forecast again already in January. Central banks around the world have reacted sharply to soaring inflation, jacking up interest rates and squeezing mortgage borrowers. CPI inflation was 2.1 percent on the month and 12.3 percent on the year.

☆ Finding the Harlem Apartment She Always Wanted: Which One Was It?
▼ + stars: | 2023-01-12 | by ( Joyce Cohen | ) www.nytimes.com time to read: +2 min

“There was an influx of young, Black corporate people who were making Harlem home, and I wanted to be a part of that renaissance,” said Ms. Rothwell, 40. She settled in a Central Harlem rental with roommates — “perfect for my 20s,” she said — and later rented a studio in an East Harlem walk-up, living below her means and keeping her sights on a purchase. Ms. Rothwell has worked in product development for a popular retail chain for more than a decade, socking away savings while moving up the corporate ranks. “He encouraged me to be open-minded,” Ms. Rothwell said. It was all about the pros and cons.”Among her options, in Central Harlem:

[1/4] Traffic navigates around downed tree limbs along 19th Avenue after a new bout of rainstorms threatens to flood San Francisco, in California, U.S. January 4, 2023. Governor Gavin Newsom declared a state of emergency on Wednesday, and state officials urged Californians to avoid travel during the storm. Crews in San Francisco spent the night cleaning up debris from felled trees that blocked roadways. The area lies in the heart of the Sonoma Wine Country, a tourist magnet just north of San Francisco. Nearly 100 flights were canceled at San Francisco International Airport on Wednesday, and an additional 15 had already been canceled on Thursday.

[1/5] High water levels caused by stormwater flood Discovery Park, located in the convergence of the Sacramento River and the American River, in Sacramento, California, U.S. January 4, 2023. The latest "atmospheric river" - an airborne current of dense moisture flowing from the ocean - was expected to drench much of California ahead of a Pacific storm front bringing additional showers to low-lying areas and more snow to the Sierra Nevada Mountains through Thursday. Authorities warned that heavy downpours would likely unleash flash flooding and mudslides, especially in areas where the ground remains saturated from rains that soaked northern California days earlier. Governor Gavin Newsom declared a state of emergency on Wednesday to support the state's winter weather hazards response, and activated California's flood operations center. A separate storm system hovering on Wednesday over parts of the Midwest was forecast to drift off the East Coast by Friday.

"We're recovering from the worst storm I've ever seen, certainly in terms of death from mother nature's wrath," he said. Progress was slow due to the sheer volume and depth of the snow, which Poloncarz said "is not plowable." [1/7] A "let’s go Buffalo" sign is seen behind an abandoned car on the road following a winter storm in Buffalo, New York, U.S., December 27, 2022. New York Governor Kathy Hochul called it an "epic, once-in-a-lifetime" weather disaster, the worst blizzard to hit the Buffalo area in 45 years. Buffalo residents with plows attached to their Jeeps and pickup trucks helped clear side streets.

[1/2] Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, NY, U.S., April 30, 2018. The MSCI All-World index (.MIWD00000PUS) rose about 1.1% on the day, although it is on track for a more than 3% decline in December. This year, the index is set to have fallen for eight out of 12 months, on a par only with 2008 for the number of monthly losses in a calendar year on record. In Europe, shares more than recovered the previous day's 0.4% drop, helped in part by a rally in sportswear stocks. Citi analysts said the calm in equity markets might not last, and thin, year-end trading could lead to volatility.

The MSCI All-World index (.MIWD00000PUS) rose 0.67% on the day, although it is on track for a nearly 4% decline in December. This year, the index is set to have fallen for eight out of 12 months, on a par only with 2008 for the number of monthly losses in a calendar year on record. They were boosted by stronger than expected earnings at sportswear giant Nike NKE.N and delivery behemoth FedEx Corp FDX.N. In Europe, shares more than recovered the previous day's 0.4% drop, helped in part by a rally in sportswear stocks. Citi analysts said the calm in equity markets might not last, and thin, year-end trading could lead to volatility.

☆ Global shares rise, but face patchiest yearly performance since 2008
▼ + stars: | 2022-12-21 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

The MSCI All-World index (.MIWD00000PUS) rose 0.1% on the day, although it is on track for a 4.4% decline in December. U.S. index futures , rose between 0.3%-0.5%, suggesting some of this strength may carry through to the Wall Street open later. On Tuesday, the Bank of Japan (BOJ) widened its trading band for 10-year government bond yields from 25 basis points (bps) either side of zero to 50 bps. CARRY TRADESBond markets were kept under pressure as the last big central bank anchoring its bond market starts to loosen its iron grip on yields. Citi analysts said the calm in equity markets might not last, and things could get volatile in thinned year-end trading.

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