DIRS.INFO The most relevant business & tech news

☆ UK army is unprepared for war and would run out of ammo quickly, former defense official says
▼ + stars: | 2024-07-01 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

The UK army is unprepared for any type of war, a former defense official told the Financial Times. It would also run out of ammunition quickly in any large-scale operation, Robert Johnson said. Former and current defense officials have raised concerns about the UK's war readiness. AdvertisementThe UK's armed forces are not prepared for any type of war and would quickly struggle with supplies, a former defense official said. "In any larger-scale operation, we would run out of ammunition rapidly," Robert Johnson told the Financial Times.

Persons: Robert Johnson, —, Johnson Organizations: Financial Times, Service, Business

☆ Russian glide bombs' faulty guidance systems may have led to dozens being dropped on its own territory, experts say
▼ + stars: | 2024-07-01 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewFaulty guidance systems on Russian glide bombs may have led to dozens of the bombs being dropped on its own territory, experts said, per The Washington Post. Cheap guidance systems could be to blameGlide bombs are older munitions retrofitted with guidance systems that allow them to be launched at a distance. In June, Russian opposition media channel Asta estimated that Russia had dropped a total of 103 bombs on its own territories over the past four months. In March, Ukrainian Minister of Foreign Affairs Dmytro Kuleba said that Russia had dropped 700 glide bombs on Ukraine in just one six-day period between March 18 and March 24. Ukraine is now developing its own glide bombs and is continuing to request further air defense systems from its NATO allies.

Persons: —, Ruslan Leviev, Leviev, Foreign Affairs Dmytro Kuleba, Volodymyr Zelenskyy, Joe Biden Organizations: Service, Washington Post, Business, Ukraine, Russian, Intelligence, Air Force, Asta, Foreign Affairs, NATO, Philadelphia Inquirer Locations: Belgorod, Ukraine, Russia, Russian, Ukrainian, Kharkiv

☆ What happens to AI progress if China invades Taiwan? A chat with 'Chip War' expert Chris Miller.
▼ + stars: | 2024-07-01 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Apple, Nvidia, Qualcomm, AMD, and most other chip designers rely on Taiwan Semiconductor Manufacturing Company to make these crucial components. And its location on the island of Taiwan, which China claims, puts the tech industry and AI's future in a precarious geopolitical position. AdvertisementChris Miller is the author of "Chip War: The Fight for the World's Most Critical Technology." When people understand the true significance of TSMC, they're often pretty shocked at how precarious the chip situation is. But suppose you think there's some chance that it happens.

Persons: Chris Miller, we're, TSMC, couldn't, That's, they've, they're, There's, Jensen Huang Organizations: Service, Apple, Nvidia, Qualcomm, AMD, Taiwan Semiconductor Manufacturing Company Locations: Taiwan, China, Russia, Ukraine, South China, Philippines, Beijing, Taiwan Strait, Washington, Tokyo

☆ Palestinian Fighters in West Bank Seek to Emulate Hamas in Gaza
▼ + stars: | 2024-07-01 | by ( Steven Erlanger | Sergey Ponomarev | ) www.nytimes.com time to read: +1 min

The alleys are cast in permanent semidarkness, covered by black nylon tarpaulins to hide the Palestinian fighters there from Israeli drones overhead. This is not Gaza or a traditional Hamas stronghold. It is a refugee camp in Tulkarm, a town in the Israeli-occupied West Bank, where the relatively moderate Palestinian faction of Fatah had long held sway. One of Israel’s most wanted men, he and other fighters like him say they have switched allegiances from the relatively moderate Fatah faction, which dominates the Israeli-occupied West Bank, to more radical groups like Hamas and Palestinian Islamic Jihad since the Hamas-led attack on Israel on Oct. 7. Asked what lesson he had taken from the war in Gaza, Mr. Jaber paused for a moment to think.

Persons: Fatah, Muhammad Jaber, Jaber, Patience, ” Organizations: Hamas, West Bank, Fatah Locations: Gaza, Tulkarm, Jihad, Israel

☆ Hochul Is Pressed to Resurrect Congestion Pricing With Lower Toll
▼ + stars: | 2024-07-01 | by ( Dana Rubinstein | Grace Ashford | ) www.nytimes.com time to read: +1 min

Weeks after Gov. Kathy Hochul abruptly pulled the plug on New York City’s congestion pricing program, state lawmakers have privately begun an informal campaign to persuade her to move ahead with the tolls, but make them less expensive. In a series of recent conversations, the legislators suggested to Ms. Hochul that she could bring back a modified form of the initiative, which would have been the nation’s first central business district tolling program. “I’ve personally urged the governor to mend it, not end it,” said Brad Hoylman-Sigal, a state senator representing a Manhattan district much of which is within the proposed congestion zone. “I think there could be an appetite among my colleagues to adjust the toll and other features of congestion pricing while approving additional revenue to make up the shortfall to the M.T.A., but only if the program is allowed to proceed.”

Persons: Kathy Hochul, “ I’ve, ”, Brad Hoylman Locations: York, Manhattan

☆ How a group of butterflies flew 2,600 miles across the Atlantic Ocean without stopping
▼ + stars: | 2024-07-01 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +7 min

Scientists have now found evidence that a group of the winged travelers flew over 2,600 miles (about 4,200 kilometers) across the Atlantic Ocean without stopping, according to a new study published June 25 in the journal Nature Communications. The insects, which are not usually found in South America, were worn out with holes and tears in their wings. Tracking a butterflyResearchers took a few crucial steps to confirm these out-of-place butterflies really did travel across the ocean. By this method, the scientists concluded the butterflies’ birthplace to be in either Western Europe, North Africa or West Africa, she added. The researchers hope to use the same techniques to investigate the migration patterns of other species of butterflies, she added.

Persons: Dr, Gerard Talavera, Vanessa cardui, ”, Talavera, ” Talavera, “, Floyd Shockley, Shockley, Megan Reich, ” Reich, ” Shockley Organizations: CNN, Nature Communications, Spanish National Research Council, Botanical Institute of Barcelona, Migration, Smithsonian National Museum of, University of Ottawa Locations: Guiana, South America, Europe, Saharan Africa, Washington , DC, North America, Ontario, Western Europe, North Africa, West Africa, Africa

☆ Mark Cuban's still betting on Biden after that disastrous debate
▼ + stars: | 2024-07-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewPresident Joe Biden had a rough showing at the presidential debate on Thursday, but Mark Cuban says he'd still hire Biden to run his businesses instead of former President Donald Trump. Morgan asked Cuban if he would employ Biden to run any of his companies, after Cuban said he'd still vote for Biden in spite of that bad debate performance. But while Trump is "obviously a good salesperson," Cuban said that he didn't think he fared well on other fronts. Related stories"I don't know if he is a voracious reader and learner, but I have read about him discussing books he has read," Cuban added. AdvertisementRepresentatives for Biden and Trump did not immediately respond to a request for comment from BI sent outside regular business hours.

Persons: —, Joe Biden, Mark Cuban, he'd, Biden, Donald Trump, Piers Morgan, Morgan, Cuban, Trump, — Mark Cuban, I'm, Harris, It's Organizations: Service, Biden, Business, Trump, BI, Democratic Locations: British

☆ Supreme Court Extends Time Frame for Challenges to Regulations
▼ + stars: | 2024-07-01 | by ( Adam Liptak | More About Adam Liptak | ) www.nytimes.com time to read: +2 min

The case on time limits, Corner Post v. Board of Governors of the Federal Reserve System, No. 22-1008, arose from a challenge to a 2011 regulation of debit-card swipe fees brought by two trade associations in 2021. The amended suit said Corner Post could not have sued within the six-year period after the issuance of the regulation because it did not yet exist. “Has the Justice Department and the agencies considered whether there is any interaction between these two challenges?” Justice Kagan asked. The lawyer, Benjamin W. Snyder, responded, “I want to be careful here.”Then he added that the consequences could be enormous.

Persons: Elena Kagan, “, ” Justice Kagan, Benjamin W, Snyder, ” Organizations: Governors, Federal Reserve, N.D, Chevron, Natural Resources Defense Council, Justice Department Locations: Watford City, Chevron

☆ Trump's trade and immigration policies are an 'elixir for stagflation' that could tip the US into recession, JPMorgan strategy chief says
▼ + stars: | 2024-07-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDonald Trump's pledge to raise trade barriers and deport immigrants could be policy shocks that trigger a recession, JPMorgan's David Kelly told Bloomberg TV. On trade, Trump has announced plans for a universal 10% duty on all imports to the US, and has separately touted higher tariffs as a replacement for some income taxes. As for immigration, the Republican candidate has promised to carry out the largest deportation program in US history. "If you took his word on immigration, the economy would come to a halt because of deportation of unregistered immigrants or illegal immigrants."

Persons: —, Donald Trump's, JPMorgan's David Kelly, Trump, he's, you've, Kelly, Larry Summers, Adam Posen, that's Organizations: Service, Bloomberg, Business, Republican, Peterson Institute, Peterson

☆ Within a year of completing solar-installation training, I landed a full-time job that lets me live the life I want
▼ + stars: | 2024-07-01 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +4 min

Now he has a marketing job for a solar company that offers flexibility and career mobility. My career has been the wildest ride since I got my solar-installation training just a year ago. AdvertisementI graduated in May 2023 and, after a summer job traveling to Alaska to create educational programs, started job searching in the solar industry in the fall. The solar industry needs everything that any other industry needs, and the growth is happening so fast. When I envision the future of my solar career, it seems like the sky's the limit.

Persons: Aaron Nichols, —, Nichols, he's, I've, It's Organizations: Service, North American Board of Certified Energy, , SunCast Locations: Alaska

☆ Stock futures are little changed after S&P 500 rises to kick off back half of 2024: Live updates
▼ + stars: | 2024-07-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures are little changed Monday night after the major averages closed higher to start the second half of 2024, as tech stocks outperformed. Dow Jones Industrial Average futures fell 26 points, or 0.07%. S&P 500 futures and Nasdaq 100 futures dipped 0.06% and 0.1%, respectively. The central bank leader will be part of a panel discussion and will not be issuing prepared remarks beforehand. He will join ECB President Christine Lagarde and Roberto Campos Neto, governor of Brazil's central bank.

Persons: Kevin Gordon, Charles Schwab, Gordon, Jerome Powell, Christine Lagarde, Roberto Campos Neto, Sara Eisen, Dow Jones Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Dow Jones, European Central Bank Forum, ECB Locations: Brazil's

☆ A.I. ‘Friend’ for Public School Students Falls Flat
▼ + stars: | 2024-07-01 | by ( Dana Goldstein | ) www.nytimes.com time to read: +1 min

platform named Ed was supposed to be an “educational friend” to half a million students in Los Angeles public schools. In typed chats, Ed would direct students toward academic and mental health resources, or tell parents whether their children had attended class that day, and provide their latest test scores. Ed would even be able to detect and respond to emotions such as hostility, happiness and sadness. Alberto Carvalho, the district’s superintendent, spoke about Ed in bold terms. Los Angeles agreed to pay a start-up company, AllHere, up to $6 million to develop Ed, a small part of the district’s $18 billion annual budget.

Persons: Ed, ”, Alberto Carvalho, democratize, —, “, ” Mr, Carvalho, Carvalho’s, AllHere Locations: Los Angeles

☆ Why the stock market's playbook for a Trump presidency will be completely different this time around
▼ + stars: | 2024-07-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Meanwhile, Trump's policy proposals are headwinds for small caps and low-quality stocks. Instead, a Trump victory in November would best serve high-quality stocks — not the small caps or low-quality cyclicals that outperformed eight years ago. That day, energy, financials, industrials, materials and small caps all beat the broader market, Morgan Stanley said. Friday's small-cap outperformance following the debate was driven by expectations that this would repeat under Trump, Morgan Stanley said. Unlike 2016, investors today are focused on whether inflation and fiscal spending is going down.

Persons: Morgan Stanley, shouldn't, —, Donald Trump's, Michael Wilson, Trump's, Wilson Organizations: Service, Trump, Republican White House, bank's, Republican

☆ The top arguments for Biden dropping out or staying in the presidential race
▼ + stars: | 2024-07-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

A CBS/YouGov poll found that 46% of registered Democrats think Biden should step aside. Yet Biden dropping out of the race at this stage is also a huge gamble, one that's fairly unprecedented in recent memory. AdvertisementHere are the most common arguments that people are making for and against Biden dropping out of the race — some of which, inevitably, may contradict each other. Why Biden should drop out of the raceThe debate was his last good shot at turning things around, and he failed. It's early, but polling so far has not shown a dramatic shift in the race since the debate.

Persons: Joe Biden's, Biden, Donald Trump, It's, —, Dave McCormick, Democratic Sen, Bob Casey, Ezra Klein, they've, Kamala Harris Organizations: Service, CBS, Suffolk University, Democratic, Biden, Trump, Pennsylvania Senate, GOP, New York Times, Democratic National Committee Locations: Pennsylvania, Trump

☆ Elon Musk came up with a perfect audiobook list for anyone who thinks about Rome on a daily basis
▼ + stars: | 2024-07-01 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewElon Musk has come up with a list of recommended audiobooks — but they may not make terribly relaxing listening by the pool or beach this summer. "Admittedly, this is a list that appeals to those who think about Rome every day," Musk wrote on X, referring to the viral internet craze questioning how often men dwell on the Roman Empire. Musk is known to be fascinated by history, particularly the study of warfare and civilization.

Persons: —, Elon, Tesla, Will, Ariel Durant, Rousseau, Musk, Friedrich Hayek, Durant, Hayek, Caesar, Doom, Kushner, The, Junger The, Tuchman, — Elon, General Douglas MacArthur, David Kushner, cofounders John Carmack, John Romero, Caesar himself, Mathias Döpfner, Axel Springer, Alexander the Great, William Bolitho, Christopher Columbus, Genghis Khan, Jack Weatherford, Richard Ernest Dupuy, Trevor Dupuy, Edward Shepherd Creasy Organizations: Service, Business, Manchester Masters, SpaceX, Tesla, Archaeologic Museum Locations: Rome, Naples, Italy

☆ I run a baby-naming site. Trends in 2024 include space-inspired names and names ending in 'ai.'
▼ + stars: | 2024-07-01 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

But these days, we're seeing parents bestow names typically given to girls on their sons. Parents who choose these names think it's better to grow into an adult-sounding name than outgrow a baby-ish name. Names that end in "ai" are easily pronounced in many languages, including indigenous languages, European languages, Japanese, and African languages. But now we're seeing parents embrace that names can be girly but still strong. We're seeing a rise in long, elaborate names but also in shorter, cutesy names for girls.

Persons: —, Sophie Kihm, Leslie, Ashley, Dana, John Legend, Chrissy Teigen, Wren, Rihanna, Rose, Willow Harlow Cleo June Juniper Jade Robin, Marjorie, Taylor, Martha Georgine Florence Dolores, Lionel Arthur Duncan Cedric Harold Ray, Kai, Jakai Zakai Adlai Lorelai Mordecai Ozai Azakai, Flora Talia Phoebe Petra Asha, Killian Harris Magnus Harvey Orson Archie, Collins Lennon Joanie Marceline, Zeppelin Guthrie Elton Jiraiya Cassian Anakin Chozen, Kepler Darwin, Kepler Darwin Edison Cosmo, Winslow Dorthea, Guinevere Lulu Pippa Honey Organizations: Service, Business, Martha Georgine Florence Dolores Popular, Ivy League, Nova, Kepler Darwin Edison Locations: Nameberry

☆ How to save money on summer vacations, according to a travel expert who has been to 90 countries
▼ + stars: | 2024-07-01 | by ( Joey Hadden | ) www.businessinsider.com time to read: +1 min

Don't worry about where other people are going. Instead of trying to make a faraway destination work on a budget just to keep up with influencers and travel trends, plan your trip based on what you can reasonably afford, even if the destination isn't far from home. "You don't have to go to big theme parks or shell out hundreds of dollars on hotels," she said. "When I grew up, we piled up in a station wagon, went on long trips, and packed a cooler with bologna sandwiches. Our dog Gidget came with us, and we stayed in little motor lodges along the way.

Persons: Kamon Supasawat, Brown Locations: bologna

☆ Tesla is about to embark on a 2nd half rally as the company's comeback story is starting, Wedbush's Dan Ives says
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Tesla stock is set for big upside in the second half of 2024, Wedbush predicted. That's because the carmaker is finally a turnaround in weak demand from China, Dan Ives said. But those headwinds are easing, particularly as things begin to stabilize in China, Ives said. The release could represent a major turning point for Tesla stock, Ives said, previously calling the robotaxi a "magic model" for the company. I believe this is a stock that's going to have a massive run second-half of the year."

Persons: Wedbush, Dan Ives, Ives, —, Wedbush's Dan Ives, Tesla, Elon, that's, Trump, Joe Biden, Musk, Wells Organizations: Service, CNBC Locations: China

☆ Celebrate July 4 Without the Fireworks - The New York Times
▼ + stars: | 2024-07-01 | by ( Margaret Renkl | ) www.nytimes.com time to read: +1 min

He seemed to believe a windowless shower in a windowless bathroom offered his best chance of surviving the shrieking terror that was raining down from the night sky outside. Did he think the fireworks, with their window-rattling booms, were the work of some cosmic predator big enough to eat him whole? Did he think they were gunshots, or claps of thunder spreading out from inexplicable lightning bolts tearing open the sky above our house? We have friends whose terrified dog spent one Fourth of July fruitlessly trying to outrun the explosions. Other friends came home from watching the fireworks to discover that their own dog had bolted in terror from their fenced backyard and been killed by a car.

Persons: Clark, —

☆ China’s ‘military readiness’ questioned with dramatic downfall of two defense ministers
▼ + stars: | 2024-07-01 | by ( Nectar Gan | ) edition.cnn.com time to read: +9 min

At the height of their careers, former defense ministers Li and Wei often struck a tough tone before the world’s top military officials. Former Defense Ministers Li Shangfu and his predecessor Wei Fenghe have both been expelled from the Communist Party over corruption allegations. Most of the generals dismissed or disappeared without explanation last year were linked to the Rocket Force or military equipment, including Li and Wei. An engineer by training, the 66-year-old spent decades launching rockets and satellites in southwest China before being promoted to the PLA headquarters to deal with military equipment procurement. “The gun barrel must always be held in the hands of those who are loyal and reliable to the party,” Xi told the PLA elites.

Persons: Hong Kong CNN —, Xi, Li Shangfu, Wei Fenghe, Xi Jinping, Li, Wei, “, James Char, ”, Former Defense Ministers Li Shangfu, Wei’s, Joel Wuthnow, ” Wuthnow, ” Char, Weidong, Char, Jason Lee, Xu Caihou, Guo Boxiong, Xu, Guo, Wuthnow, Jiang Zemin, haven’t, ” Wei, Li “, Bill Bishop, ” Xi Organizations: Hong Kong CNN, Communist Party, People’s Liberation Army, PLA, Rajaratnam, of International Studies, Former Defense Ministers, AP, Reuters, Rocket Force, Development Department, Second Artillery Corps, Pentagon, National Defense University, CCP, China’s Naval University of Engineering, Central Military Commission, Military, People's, CMC, Communist Locations: China, Hong Kong, Taiwan, United States, Singapore, People's Republic of China, Beijing, Yan’an

In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.

Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, —, John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific

☆ Stocks surged during the first half of 2024. What’s next?
▼ + stars: | 2024-07-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

Much of the S&P 500’s gains were concentrated in the Magnificent Seven big tech names, while other stocks lagged behind. Coming into this year, Wall Street projected that the Fed would ease rates as many as six times in 2024. What could be in store for the stock market during the second half of 2024? “I feel very, very good about the values of my three children, and I have 100% trust in how they will carry things out,” Buffett told the Journal. Previously, Buffett had said his will stated that more than 99% of his estate was earmarked for philanthropic usage to the Bill & Melinda Gates Foundation and the four charities connected to his family: the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.

Persons: there’s, Bell, Kevin Gordon, Charles Schwab, you’ve, It’s, we’re, it’s, I’d, That’s, Warren Buffett, Buffett, Berkshire Hathaway, Melinda Gates, ” Buffett, Susan Thompson Buffett, Howard G, Read, Matt Egan, unstuck, —, Michael Gapen Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Nvidia, Federal Reserve, Wall, Fed, Berkshire, Wall Street, Melinda Gates Foundation, Gates, Susan Thompson Buffett Foundation, Sherwood Foundation, Buffett Foundation, NoVo Foundation, Gates Foundation, Bank of America, CNN Locations: New York, America

☆ Bitcoin is about to clear a big overhang, and the crypto will recover from its slump to reach $150,000 by year-end, Fundstrat's Tom Lee says
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Bitcoin holders will see a huge appreciation in the coin by the end of the year. The crypto is on track to hit $150,000 as it clears an overhang created by Mount Gox repayments, Tom Lee said. Bitcoin has had a strong year so far, hitting a fresh record high before edging lower in recent weeks. AdvertisementBut the impact of repayments will fade, Lee suggested, forecasting another big rally to boost bitcoin through the rest of this year. "Bitcoin's probably suffering from the Mount Gox starting distributions in July.

Persons: Tom Lee, Bitcoin, —, Lee, Gox, Bitcoin's, bitcoin Organizations: Service, bitcoin, Mount, CNBC

☆ A therapist said these 5 dark psychology tricks are used a lot in dating. Here's how to spot them early on.
▼ + stars: | 2024-07-01 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +6 min

Of the latter, social media is littered with posts about the idea of "dark psychology" and how it's potentially used to manipulate partners. She said she sees dark psychology tricks used a lot in dating. They gradually belittle youWright said devaluation is another common dark psychology trick — and it usually happens after the idealization or love bombing phase. In the early stages of dating, one of Wright's clients "noticed their date was frequently contradicting things they had previously said or done." No amount of dark psychology tricks will ever bring them close.

Persons: —, Annie Wright, Wright, It's, Wright's Organizations: Service, Business Locations: Berkeley , California

☆ Euro rises after France's first-round vote, yen struggles
▼ + stars: | 2024-07-01 | by ( ) www.cnbc.com time to read: +3 min

The euro rose on Monday after the first round of France's snap election put the far-right in pole position, though by a smaller margin than projected, while a downgrade to Japan's first-quarter growth figures knocked the yen lower. "They (RN) have actually performed a little bit worse than what was expected," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. The yen struggled to gain ground against a broadly weaker dollar, and was last 0.05% lower at 160.93 per dollar. That could lead to a cut to the Bank of Japan's growth forecasts in fresh quarterly projections due later this month and affect the timing of its next interest rate hike, analysts said. Elsewhere in Asia, the Chinese yuan - also a victim of stark interest rate differentials with the U.S. - was last 0.02% higher at 7.2981 per dollar in the offshore market.

Persons: Emmanuel Macron, Carol Kong, Michael Brown, CBA's Organizations: Commonwealth Bank of Australia, Reserve, New Zealand, Bank of, U.S Locations: Japan, Asia

Search resuls for: "Think"

25 mentions found