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☆ Target, Amazon, Starbucks: Stocks That Defined the Week
▼ + stars: | 2022-11-19 | by ( Francesca Fontana | ) www.wsj.com time to read: 1 min

Target Corp.Target’s sales were off the mark. The retail giant on Wednesday said consumers pulled back on their spending in recent weeks, sapping sales and profits in the latest quarter. Meanwhile, rival Walmart Inc. saw sales rise as it gained more shoppers, though it said consumers bought fewer electronics and home goods. The divergent results come ahead of the critical Black Friday, one of the largest single shopping days. Target shares plummeted 13% Wednesday.

☆ Qatar 2022: World Cup fans acclimatise to desert accommodation -- in tents and portacabins
▼ + stars: | 2022-11-18 | by ( Ben Church | ) edition.cnn.com time to read: +6 min

Doha, Qatar CNN —As fans trickle into Qatar, they’re understandably in holiday mode as they look forward to the prospect of a desert World Cup. But where best to stay in a country that is geographically on a peninsula smaller than Connecticut and is the smallest World Cup host in history? Container living in the desert ... World Cup style. Some World Cup visitors, however, were less impressed with what was on offer. With just two days to go until the first match, the nation is putting the final touches to its preparations as it braces itself for a World Cup like no other.

☆ Target Earnings, Sales Sapped as Consumers Pull Back
▼ + stars: | 2022-11-16 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

Target Corp. said consumers pulled back on their spending in recent weeks, sapping sales and profits in the latest quarter and putting a cloud over its holiday season. Quarterly profits came in below Target’s forecasts and the company’s sales growth lagged behind larger rival Walmart Inc. in the period. Target executives lowered their financial goals for the holiday quarter and said they would look to cut at least $2 billion in costs over three years.

☆ Target Shares Plunge on Earnings Miss and Weak Holiday Sales Forecast
▼ + stars: | 2022-11-16 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

Target Corp. said consumers pulled back on their spending in recent weeks, sapping sales and profits in the latest quarter and putting a cloud over its holiday season. Quarterly profits came in below Target’s forecasts and the company’s sales growth lagged behind larger rival Walmart Inc. in the period. Target executives lowered their financial goals for the holiday quarter and said they are prepared to offer deep discounts in the coming months to clear out unwanted inventory and attract shoppers.

☆ Target Shares Plunge on Weak Earnings, Outlook
▼ + stars: | 2022-11-16 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

Target Corp. said consumers pulled back on their spending in recent weeks, sapping sales and profits in the latest quarter and putting a cloud over its holiday season. Quarterly profits came in below Target’s forecasts and the company’s sales growth lagged behind larger rival Walmart Inc. in the period. Target executives lowered their financial goals for the holiday quarter and said they are prepared to offer deep discounts in the coming months to clear out unwanted inventory and attract shoppers.

The attack that killed six people on a busy Istanbul street on Sunday has brought national security back on the political agenda. With Turkey quick to accuse Syria-based Kurdish militants for the latest attack, analysts say Erdogan may now press for another cross-border campaign into northern Syria after three such incursions since 2016. Were Sunday's attack followed by more, Peker expected outcomes including a rapid escalation of "counter-terrorism operations, particularly against the PKK and the YPG". The YPG, espousing the same ideology as the PKK, has established control over swathes of northern Syria since war began there in 2011. In a November re-run - following that spate of violence and two major Islamic State bomb attacks - AK Party won comfortably.

☆ This new $450,000 electric car combines the retro style of a 1960s Mustang with the minimalist interior of a Tesla
▼ + stars: | 2022-11-12 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

I drove the Tesla Model Y and the Kia EV6 to see how the two electric SUVs stacked up. The Tesla Model Y. Tim Levin/InsiderTesla sells some of the longest-range EVs on the market. The Model Y. Tim Levin/InsiderSome buyers might prefer the Kia's sporty and bold interior over Tesla's minimalist and button-free aesthetic. The Model Y. Tim Levin/InsiderThe Model Y's big touchscreen makes it a tech fan's dream. But if you prize a minimalist interior, tech features out the wazoo, and Supercharger convenience, go with the Model Y.

LONDON, Nov 11 (Reuters) - Defusing this year's single biggest shock to the world economy could catalyze a rebound in global markets many investors feel is overdue - but may also raise other uncomfortable conundrums. Murmurs about some endgame in the 9-month-old Russian invasion of Ukraine - suggestions of anything from 'talks about talks' to some negotiated ceasefire - have swirled in media over the past week. All were watched as intently by global investors as much as politicians or military strategists. Western sanctions slapped on Moscow seeded an energy and food price explosion that compounded and elongated the post-pandemic inflation spike around the world. US Geopolitical RiskUS inflation, Fed rates and marketsThe opinions expressed here are those of the author, a columnist for Reuters.

Results of Tuesday's election remain uncertain, with President Joe Biden's Democratic Party performing better than expected and potentially in position to retain control of the Senate. "This will be de facto gridlock regardless of the outcome," said Brian Gardner, Washington-based strategist for Stifel. But it can also gum up the wheels of basic governance and pose its own set of risks. But it also may have helped trigger the current round of inflation, and has pushed U.S. public debt to record levels. That may mean a more reluctant fiscal response to any coming downturn.

☆ Morning Bid: Congress unswept, crypto a mess
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. Incumbent Democrats enjoyed a stronger-than-expected showing, with a chance of retaining the Senate, limiting expected losses in the House of Representatives and taking important governors' races. Regardless of the poll results, problems in the crypto world deepened amid fears of widespread contagion and selling following the near collapse of a major exchange on Tuesday. Perhaps partly related to the crypto shakeout, shares in Tesla (TSLA.O) dropped as much as 5% on Tuesday after filings showed owner Elon Musk sold almost $4 billion Tesla shares before his Twitter takeover. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: Laboring markets get China fillip
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. With one eye on the U.S. employment report at the end of a dour week of rising interest rates, world markets were spurred by another slightly mysterious Chinese stock surge. None of these reports have yet been confirmed, but some former officials appeared to encourage the speculation on Friday. The Shanghai Composite (.SSEC) rose 2.7% and was headed for a 5.6% weekly gain, the largest in more than two years. U.S. stock futures were up marginally ahead of the open, however, after another round of heavy index losses on rising interest rate fears on Thursday.

☆ Coinbase reports third-quarter loss as volumes drop
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

Nov 3 (Reuters) - U.S. cryptocurrency exchange Coinbase Global Inc (COIN.O) on Thursday reported a third-quarter loss as high inflation, rising interest rates and geopolitical tensions weakened demand for risky assets, sapping trading volumes for digital currencies like bitcoin. Coinbase said it had a net loss of $544.6 million for the three months ended Sept. 30, or $2.43 per diluted share, compared with a profit of $406.1 million, or $1.62 per diluted share, a year earlier. Reporting by John McCrank in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Op-ed: The U.S. and China should not miss a historic opportunity to save the world
▼ + stars: | 2022-11-03 | by ( Siddharth Chatterjee | The United Nations Resident Coordinator To China | ) www.cnbc.com time to read: +4 min

Climate Change Conference (COP 27) in Egypt approaches, the countries of the world face a stark choice between two paths. Such exploitation leads to more climate change, more floods, more fires, more hunger, more diseases, more forced migration and more war. Anyone who accepts the scientific facts of climate change understands that this must be our choice. The U.S. and China can each take dramatic climate action on their own, but they must also rise above current tensions to collaborate. Over a decade ago, cooperation between the U.S. and China laid the foundation for global action on climate change and paved the way for the 2015 Paris Agreement.

☆ Russia's economy shrinks 5% year-on-year in September -economy ministry
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Summary This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, Nov 2 (Reuters) - Russia's economy shrank by 5% on an annualised basis in September, the economy ministry said on Thursday, a sharper contraction than the 4% recorded a month earlier. Western sanctions and the fallout from Russia sending tens of thousands of troops into Ukraine in February have pushed the country into recession, but Moscow says the West has failed to destroy the Russian economy. The ministry said Russia's economy was 4.4% smaller in the third quarter of 2022 compared to the same three-month period of 2021. Reporting by Darya Korsunskaya; Writing by Jake Cordell; Editing by Jan Harvey and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

The National Bureau of Economic Research (NBER)’s authoritative Business Cycle Dating Committee itself uses a two-part classification – “expansion” and “contraction”. Growth in business activity tends to accelerate and decelerate; outright declines in the level of activity are relatively rare. UNDECLARED RECESSIONSThe NBER’s Business Cycle Dating Committee formally declared only six recessions between 1980 and the end of 2020. They were periods of little or no growth in an otherwise uninterrupted business cycle expansion and tend to be forgotten. Mid-cycle slowdowns also reset the economy by easing capacity constraints and relieving upward pressure on prices and wages.

☆ Meme stock rally could be sign that investor appetite for risk is returning
▼ + stars: | 2022-10-31 | by ( David Randall | ) www.reuters.com time to read: +3 min

The stock's Monday volume, which stood at over 10 million shares after the close, far exceeded the 506,000 shares investors have shorted, he said. "There is no way today’s price move is due to a short squeeze, it is virtually all long buying pressure," Dusaniwsky said. Many meme stocks have been pounded this year as the Federal Reserve tightens monetary policy, sapping investors’ appetite for risk. Shares of GameStop Corp (GME.N), which put meme stocks into the spotlight with its epic rally in 2021, are down 24% for the year to date while AMC Entertainment Holdings Inc (AMC.N) has fallen 60%. "If that’s the case that would further tamp down Treasury yields and create a tailwind for equities."

The troubled Swiss bank outlined what its chairman Axel Lehmann dubbed a "blueprint for success", after racking up a 4 billion Swiss franc loss in the third quarter of the year and following torrid weeks for the group. Saudi National Bank, the Kingdom's biggest lender, committed to invest up to 1.5 billion francs in Credit Suisse to achieve a shareholding of up to 9.9%. The Swiss bank said it also aims to separate out its investment bank to create CS First Boston, focused on advisory and capital markets, and hopes to attract third-party capital and set up a partnership with the new Credit Suisse. Credit Suisse said it will create a capital release unit to wind down non-strategic, higher-risk businesses, while announcing the sale of a large part of its securitised products business. Credit Suisse needs to revamp after a series of costly and morale-sapping blunders that triggered a wholesale change of management, a halt in dividend payments and an urgent rethink about its future.

☆ Microsoft revenue forecast under threat from PC market slump, mighty dollar
▼ + stars: | 2022-10-24 | by ( Yuvraj Malik | ) www.reuters.com time to read: +3 min

Adding to the squeeze, the dollar has climbed more than 17%, weighing on the earnings of companies with big global operations. Microsoft earns more than 50% of its revenue outside the United States. Reuters GraphicsWindows licenses form about 12% to 13% of Microsoft's revenue and the PC market downturn is expected to dent its sales by 100 basis points, Morningstar senior analyst Dan Romanoff said. The blow is expected to be slightly offset by Microsoft's cloud services unit Azure, which is set to grow 20% in the first quarter, according to Refinitiv data. Software firms are the biggest customers of cloud platforms and their business growth is taken as proxy for the cloud services sector.

☆ U.S. container imports tumble as supply stress gives way to slack
▼ + stars: | 2022-10-20 | by ( Lisa Baertlein | ) www.reuters.com time to read: +3 min

LOS ANGELES, Oct 20 (Reuters) - After more than two years of surging demand, the volume of container imports coming through U.S. ports has tumbled sharply, raising questions about where a sector once tracked as a supply-chain stress point will hit bottom. Container import volumes across all U.S. ports hit an all-time high in May and pulled back slightly before plunging in August and September. Volume surged as much as 40% from 2019 levels during the pandemic as retailers raced to meet soaring demand for goods. As recently as March, the Biden administration supply chain task force had tracked container imports as part of a "dashboard" to monitor the distress in the distribution of goods and a contributor to higher prices. Kemmsies said the August and September pullbacks in the volume of container imports is the result of retailers like Walmart (WMT.N) and Amazon.com (AMZN.O) cancelling billions of dollars of orders earlier this year.

☆ Argentina inflation undershoots, easing pressure to hike rates
▼ + stars: | 2022-10-14 | by ( Walter Bianchi | ) www.reuters.com time to read: +2 min

The government's INDEC statistics agency reported on Friday the monthly inflation was 6.2% last month, slower than in August and undershooting analyst forecasts of a 6.7% increase. Aldo Abram, executive director at consultancy Libertad y Progreso, said inflation would remain high into next year, before easing back ahead of presidential elections. Argentines on the street said they were increasingly struggling to afford things as prices outstripped salaries. "You have to pay attention to how much things cost because there are things that you can't pay for. You have to eliminate things from your diet because wages can't keep up," 53-year-old housewife Claudia Villalba told Reuters.

☆ I drove sporty electric SUVs from Tesla and Kia: Why I'd buy the $41,000 EV6 over the $66,000 Model Y
▼ + stars: | 2022-10-11 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

I drove the Tesla Model Y and Kia EV6 to see how the two electric SUVs stack up. The Tesla Model Y. Tim Levin/InsiderTesla sells some of the longest-range EVs on the market. The Tesla Model Y. Tim Levin/InsiderThe EV6 is one of the quickest-charging electric cars you can buy. The Tesla Model Y. Tim Levin/InsiderBut some buyers might prefer the Kia's sporty and bold interior over Tesla's minimalist and button-free aesthetic. The Tesla Model Y. Tim Levin/InsiderThe Model Y's big touchscreen makes it a tech fan's dream.

☆ More Companies Pause Deal-Making Amid Market Volatility, High Inflation
▼ + stars: | 2022-10-10 | by ( Kristin Broughton | ) www.wsj.com time to read: +7 min

Many companies are taking a pause on acquisitions as a cocktail of worrying economic factors, including high inflation, rising interest rates and market volatility, is sapping the confidence of buyers and sellers. Deal-making activity is expected to remain tepid overall during the fourth quarter compared with 2021, barring an improved economic outlook and lower inflation readings, M&A advisers said. For instance, spinoffs or divestitures could become more popular deal structures as companies review their business models, Refinitiv’s Mr. Toole said. Even a number of early M&A discussions, including about possible financing options, are drying up, M&A advisers said. During the latest quarter, Adobe acquired 5.1 million shares at a cost of $1.8 billion, it said.

☆ The econ Nobel offers a timely warning about central banks’ power
▼ + stars: | 2022-10-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

New York CNN Business —The Nobel in economics is sort of the step-cousin of the Nobel family. Some scholars really dislike the economics prize, including one of Nobel’s own descendants, who dismissed it as a “PR coup by economists.”But hey, it still comes with a cash prize. In short, his work demonstrates that banks’ failures are often a cause, not merely a consequence, of financial crises. The Nobel committee has been known to play politics (see: that time Barack Obama was awarded the Nobel Peace Prize after being in office for just eight months). And right now, it is using its spotlight to call attention to the high-stakes gamble playing out at central banks around the world, most notably the Fed.

☆ 5 signs the world is headed for a recession
▼ + stars: | 2022-10-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +12 min

New York CNN Business —Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. There’s now a 98% chance of a global recession, according to research firm Ned Davis, which brings some sobering historical credibility to the table. In an interview, its CEO was asked whether he believes the slowdown was a sign of a looming global recession. The upshotWhile the consensus is that a global recession is likely sometime in 2023, it’s impossible to predict how severe it will be or how long it will last. Not every recession is as painful as the 2007-09 Great Recession, but every recession is, of course, painful.

The Federal Reserve on Wednesday hiked its key interest rate by 0.75% for the third time in a row as it races to get ahead of the galloping inflation that is sapping the earnings of American consumers. This month, the Bureau of Labor Statistics reported inflation had climbed by 8.3% year on year and 0.1% month on month. By raising interest rates, the Fed hopes to rein in consumption and borrowing, which in turn should put downward pressure on prices. One area in which higher interest rates are taking a significant bite is housing. Bankrate's McBride laid out some financial advice Americans should keep in mind as interest rates climb.

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