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☆ Arm CEO says firm fully committed to a market listing this year
▼ + stars: | 2023-02-07 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

SAN FRANCISCO, Feb 7 (Reuters) - The chief executive of Softbank-owned British chip technology firm Arm told Reuters on Tuesday that the company is committed to a stock market float this year. Arm makes money off upfront licensing deals with such companies and then a royalty on each chip sold using its technology. Arm said per-chip royalties, which are steadier than its deal-making business, were up 12% to $446 million in the quarter. Haas said Arm is "not immune" to the softening smartphone market but that the company has licensed more intellectual property into each chip than in the past. Additional reporting by Muvija M and Paul Sandle; Editing by Alistair Smout and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ BNP investors deserve bigger slice of M&A windfall
▼ + stars: | 2023-02-07 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

He’ll give 4 billion euros to investors through share buybacks, which roughly cancels out the hit to BNP’s earnings per share from ditching the U.S. division. The other 7.6 billion euros, or two-thirds of the total haul, will pay for increased lending, investments in technology systems, and small acquisitions. Follow @liamwardproud on TwitterloadingCONTEXT NEWSBNP Paribas on Feb. 7 said it generated 50.4 billion euros of revenue in 2022, up 9% from the previous year. The French bank generated a 10.2% return on tangible equity in the year, slightly above the previous year’s 10%. BNP in 2021 agreed to sell BancWest to Canada’s BMO Financial for $16.3 billion in cash (15.2 billion euros).

☆ Women Have Been Misled About Menopause
▼ + stars: | 2023-02-01 | by ( Susan Dominus | ) www.nytimes.com time to read: +4 min

Until she stumbled on Alloy, she’d been relying on antibacterial creams to soothe the pain she felt. The space was clearly a no-judgment zone, a place where women could talk about how they personally felt about the risks and benefits of taking hormones. “My new OB-GYN and my cancer doc won’t put me on hormones,” the woman said. Faubion told me that in certain circumstances, higher-risk women who are fully informed of the risks but suffer terrible symptoms might reasonably make the decision to opt for hormones. Only once I took the hormones did I appreciate that my regular 2 a.m. wakings, too, were most likely a symptom of perimenopause.

Bola Sol coaches clients on managing money and wrote the personal-finance book "How to Save It." Sol suggested those who are wary about investing start with small amounts and try using index funds. Invest your money, even if it's small amountsStart investing as soon as you can in life. With funds, it's not just one company that you're investing in. But they don't know about 0% balance transfers, for example.

☆ S&P 500 bumps up against bear-market trend line that has thwarted it in the past
▼ + stars: | 2023-01-23 | by ( Michael Santoli | ) www.cnbc.com time to read: +3 min

Market confidence that the Fed is just about done - reinforced by the statistical trappings of a recession in waiting – is combining with an overall decent level of economic activity and companies trying to defend profit margins. Bond yields continue to retrace higher after a ferocious Treasury rally in recent months, which along with firmer oil and copper prices imply the global-growth tone is seen as steadier. A clear trend this year is the sharp outperformance of non-US stocks. Breadth is strong again, not quite a blast-off 90% upside day, but continuing a good run for the majority of stocks. VIX under 20, benign but hard to see it falling too much in the nine days before the Fed decision but we'll see.

☆ Morning bid: Netflix flickers
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +4 min

With the macro picture turning foggy again, streaming giant Netflix (NFLX.O) generated a rare bright spark in an otherwise gloomy corporate earnings season. But it has bounced back more than 60% from the lows of last June and the leadership shakeup may not shape the road ahead. With aggregate S&P500 earnings tracking a year-on-year contraction of about 3% for the fourth quarter, the Netflix news was welcome. In wider markets, a dour Thursday showed some retreat of the early year optimism on peaking central bank interest rates. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ ECB struggled to compromise on December rate hike, accounts show
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 19 (Reuters) - European Central Bank policymakers struggled to compromise on a 50-basis-point interest rate hike in December but concluded that strong hints about future increases were as good as a bigger rise immediately, the account of the meeting showed on Thursday. The ECB eased the pace of its interest rate hikes on Dec. 15 but stressed significant tightening remained ahead and laid out plans to drain cash from the financial system as part of a dogged fight against runaway inflation. It raised its rates by 50 basis points at that meeting and President Christine Lagarde hinted at as many as three more hikes of the same size. Still, a large number of policymakers were initially arguing for a 75-basis-point increase and some held out until the very end. Investors priced in more ECB rate hikes after the ECB decision but they have been revising their expectations since the turn of the year, as inflation data came in lower than forecast and the Federal Reserve raised the prospect of smaller rate increases.

Issuance of bonds tied to environmental, social and governance (ESG) themes grossed $142 billion in Asia Pacific last year, barely below the record $144 billion of 2021, according to data from Refinitiv. Major EM ESG issuance Asia, Europe and USParticipants say the 2022 issuance in Asia was fuelled on the supply side by the gargantuan task of greening Asia's energy grid and by low yuan interest rates in top issuer China, where investment from domestic institutions supported prices. Chinese entities issued 59.3% of the ESG bonds in the Asia-Pacific region in 2022, with total proceeds totaling $84 billion, up about 6% from $80 billion in 2021. "Domestic capital markets in Asia have been developing over many years, and are quite deep today," he said. Major EM ESG issuance Major EM ESG issuanceGlobally, ESG issuance fell last year as debt markets became turbulent, while investors pulled cash from funds devoted to sustainable investment for the first time in more than a decade as soaring prices for fossil fuel stocks, which they exclude, hurt their relative performance.

☆ Asia shares up on Fed rate wagers, China reopening lifts yuan
▼ + stars: | 2023-01-09 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 2.0% to a five-month top, with South Korean shares (.KS11) gaining 2.2%. Japan's Nikkei (.N225) was closed for a holiday but futures were trading at 26,215, compared with a cash close on Friday of 25,973. Earnings season kicks off this week with the major U.S. banks, with the Street fearing no year-on-year growth at all in overall earnings. "China reopening is one upside risk to 2023 EPS, but margin pressures, taxes, and recession present greater downside risks." Fed fund futures now imply around a 25% chance of a half-point hike in February, down from around 50% a month ago.

☆ Asia shares rise on U.S. rate bets, China reopening
▼ + stars: | 2023-01-09 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.5% to a five-month top, with South Korean shares (.KS11) gaining 2.1%. S&P 500 futures added 0.2% and Nasdaq futures 0.3%. EUROSTOXX 50 futures added 0.5%, while FTSE futures firmed 0.4%. "China reopening is one upside risk to 2023 EPS, but margin pressures, taxes, and recession present greater downside risks." The market scaled back bets on rate hikes for the Federal Reserve.

SINGAPORE/LONDON, Dec 29 (Reuters) - The dollar slipped on Thursday after rising in the previous session, with investors on edge at the end of the year as initial optimism over China's reopening fizzled. The yen was last 0.56% higher at 133.72 against the dollar. That followed a 0.73% fall on Wednesday which saw the yen hit a one-week low of 134.50. It climbed as high as $1.206 earlier in the session but gave up some of its gains. Against a basket of currencies, the U.S. dollar index fell 0.08% to 104.26, having climbed 0.18% in the previous session.

SINGAPORE/LONDON, Dec 29 (Reuters) - The dollar slipped on Thursday after rising in the previous session, with investors on edge at the end of the year as initial optimism over China's reopening fizzled. The Japanese yen was last 0.64% higher at 133.66 against the dollar. That followed a 0.73% fall on Wednesday which saw the yen hit a one-week low of 134.50. Analysts warned against reading too much into price moves amid low trading volumes as markets head into the new year. Against a basket of currencies, the U.S. dollar index fell 0.11% to 104.23, having climbed 0.18% in the previous session.

☆ Dollar adrift as optimism over China reopening turns to caution
▼ + stars: | 2022-12-29 | by ( Rae Wee | ) www.reuters.com time to read: +2 min

SINGAPORE, Dec 29 (Reuters) - The dollar pared some gains on Thursday after riding long-end U.S. Treasury yields higher overnight, though investors remained on edge going into the year end as initial optimism over China's reopening fizzled. The speed at which the country has scrapped COVID rules has overwhelmed its health system and sparked concerns about the spread of the virus. The Japanese yen was last roughly 0.6% higher at 133.71 per dollar, languishing near a one-week low of 134.50 that was hit in the previous session. Sterling rose 0.1% to $1.2030, but was similarly not far off its three-week trough of $1.1993 hit last week. Meanwhile, the yield on the benchmark U.S. 10-year Treasury last stood at 3.8637%, after rising to a more than one-month high of 3.8920% overnight.

☆ Dollar steadies as optimism over China reopening turns to caution
▼ + stars: | 2022-12-29 | by ( Rae Wee | ) www.reuters.com time to read: +2 min

SINGAPORE, Dec 29 (Reuters) - The dollar steadied on Thursday after riding long-end U.S. Treasury yields higher overnight, as initial optimism over China's reopening fizzled. Following China's removal of its quarantine rule for inbound travellers beginning Jan. 8, countries such as the United States, Japan and India said they would require COVID tests for travellers from China. Sterling rose 0.19% to $1.2040, but was similarly not far off its three-week trough of $1.1993 hit last week. The uncertainty over the global economic outlook, along with mounting worries about a recession in the U.S., saw the two-year Treasury yield , which typically moves in step with interest rate expectations, slip overnight. Meanwhile, the yield on the benchmark U.S. 10-year Treasury last stood at 3.8656%, after rising to a more than one-month high of 3.8920% overnight.

☆ Gold rangebound as traders await economic data
▼ + stars: | 2022-12-22 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold edged up on Thursday, helped by a softer dollar in holiday-thinned trading, but prices moved in a tight range as market participants awaited economic data for further direction. Spot gold rose 0.2% to $1,818.40 per ounce as of 0225 GMT. The Federal Reserve lowered its pace of rate hikes gradually to 50 bps in December after four straight 75 bps rate hikes. However, Fed Chair Jerome Powell has signaled that the U.S. central bank will deliver more rate hikes next year.

☆ 90% of your early success boils down to this skill, says millionaire: 'Most young people are terrible at it'
▼ + stars: | 2022-12-22 | by ( Steve Adcock | ) www.cnbc.com time to read: +3 min

Knowing how to develop a rapport with people is crucial in so many facets of your professional life, such as navigating relationships, problem-solving, getting clients, public speaking, and negotiating salaries and raises. Based on my experience, 90% of your early success boils down to your ability nail job interviews. I've seen people show up to interviews in a t-shirt and jeans while I was wearing a buttoned-down shirt. When job interviewers ask about your biggest weaknesses, what they're really measuring is your level of self-awareness and problem-solving skills. Never pass on the chance to ask questions at the end of an interview.

☆ Morning Bid: Questions after the storm
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Wayne Cole. A day after the Bank of Japan's bombshell and things are looking a little steadier. Most Asian share markets and U.S. stock futures are up, and the Nikkei down only modestly. Analysts assume a formal shift will come after Japan's Spring wage talks and BOJ chief Kuroda's retirement in April. Analysts also suspect the BOJ shift meant the days of Japan desiring, or just accepting, a lower yen were over and the fallout in carry trades has been vicious.

☆ Turnover surges as funds rush to exit private equity stakes
▼ + stars: | 2022-12-19 | by ( Rae Wee | ) www.reuters.com time to read: +5 min

Conceived as an illiquid but lucrative method of accessing unlisted companies, private investments are typically structured into funds run by buyout firms. Investment firm Hamilton Lane says an unprecedented $224 billion in private equity stakes have been offered in the secondary market this year to mid-November. Others want to deploy their capital elsewhere - a sign that private equity funds are no longer so highly regarded. The need to sell to rebalance can occur when, as this year, private equity funds have outperformed public markets. On paper, plenty of private investments, which are typically valued quarterly, appear to have done very well this year.

☆ Morning Bid: Yen for change
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +4 min

But even though the BoJ is unlikely to change that stance at this week's policy meeting, some change appears to be afoot next year as central bank chief Haruhiko Kuroda ends his second five-year term in April. In numbers due for release on Thursday, Japan's core consumer price inflation rate is expected to have ticked up to 3.7% last month. That said, futures markets still aren't buying Fed policymaker indications that official rates will go above 5% and stay there all next year. After closing at their worst levels in over a month on Friday, U.S. stocks are set for a steadier open today. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Joe Biden beat Donald Trump once, and Democrats are crafting a strategy to try to beat him again in 2024 — even if his name isn’t on the ballot. But Democrats interviewed about the emerging 2024 strategy said they plan to make sure this particular comment isn’t soon forgotten. (Trump issued another statement on his Truth Social platform insisting he hadn’t said he wanted to “terminate” the Constitution.) A Trump ally, former Republican House Speaker Newt Gingrich, said he doesn’t believe Trump will suffer a backlash over his comment about the Constitution. Trump’s comment “is very serious,” said longtime Biden confidant Ted Kaufman, a former U.S. senator from Delaware.

☆ Key White House economic advisor says U.S. economy is slowing, but resilient
▼ + stars: | 2022-12-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

The November labor market report released Friday showed job growth was better than expected, as nonfarm payrolls increased by 263,000. He also pointed to slowing inflation as a positive sign for healthier economic growth. The improving labor market, combined with a 0.6% increase in average hourly earnings last month, has put pressure on the Fed to continue raising rates. Major U.S. stock indexes have struggled this week, in part due to concerns of a slowing economy and expectations of more rate increases ahead. "That's going be where we get our innovation and our productive capacity, beyond the next month or two."

☆ Kroger hikes forecast after stronger grocery sales top estimates
▼ + stars: | 2022-12-01 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Kroger on Thursday raised its forecast for the year after stronger third-quarter sales topped Wall Street expectations and inflation continued to push up the prices shoppers pay for milk, eggs and other groceries. Kroger CEO Rodney McMullen said the company is attracting shoppers by offering value. At Kroger, identical sales rose 6.9%, excluding fuel, in the third quarter. For the full year, Kroger now anticipates adjusted net earnings to range from $4.05 to $4.15. Kroger announced in October that it plans buy its competitor, Albertsons , in a deal valued at $24.6 billion.

☆ BlackRock bond chief Rick Rieder says he's never seen a market this rich in income opportunities. He told us how he's invested in it.
▼ + stars: | 2022-11-30 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

After the end of a multi-decade bull market, Rieder says investors have a lot of new opportunities. Rieder told Insider what he's buying, and says investors can get strong returns with little risk. Suffice to say, Rieder's happy to see the beginning of a new fixed income environment. "I think the ability to create income in fixed income is maybe the strongest that I've seen in my career." Right now, he describes the fixed income market today as a much more appealing and less high-pressure place to be than it once was.

☆ Homebuyers just got their biggest weekly mortgage-rate drop in 40 years
▼ + stars: | 2022-11-18 | by ( James Rodriguez | ) www.businessinsider.com time to read: +4 min

The average rate for a 30-year mortgage just saw its biggest weekly drop in more than 40 years. The average rate for a 30-year mortgage just saw its biggest weekly drop in more than 40 years, according to Freddie Mac. A better-than-expected inflation report last week led to the biggest single-day mortgage-rate drop on record, according to Redfin. If interest-rate volatility declines, mortgage rates could keep falling as well, narrowing the distance from the 10-year Treasury yield. If that spread reverts to the historical average, that would put the 30-year mortgage rate at about 4.5%.

☆ Walmart and Target’s quarterly results lay bare the retailers' stark differences
▼ + stars: | 2022-11-17 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Groceries account for 56% of Walmart's annual revenue, compared with just about 20% at Target, according to company filings. More customers turn to Walmart to fill out the bulk of their grocery lists, said Neil Saunders, managing director of retail advisory firm GlobalData. A man pushes his shopping cart past bread for sale at a Walmart SuperCenter store in Rosemead, California. Brown | AFP | Getty ImagesLow prices vs. Fun findsWalmart is known for its mantra of "everyday low prices" and its focus on value has become synonymous with its name. About 21% of sales at Target come from unplanned purchases, according to GlobalData research from before the pandemic.

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