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A day after Britain's fast pace of price growth unexpectedly slowed, the BoE's Monetary Policy Committee voted by the narrowest margin of 5-4 to keep Bank Rate at 5.25%. But rate futures suggested they still saw a 50% chance of Bank Rate rising to 5.5% by the end of this year. Britain's economy, hit hard by Brexit, the COVID-19 pandemic and the surge in gas prices triggered by Russia's invasion of Ukraine, has been struggling with the highest inflation rate in the Group of Seven. But growth remains fragile, heightening the risk that the BoE's 14 back-to-back rate hikes will push the economy into a recession. Last week, the European Central Bank raised rates but suggested its move might be the last for now.

Persons: Andrew Bailey, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, BoE, Reuters Graphics Sterling, Bailey, Rishi Sunak, Peter Nicholls, Frances Haque, Reuters Graphics Bailey, Yael Selfin, Hugh Gimber, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters Graphics, U.S ., MPC, REUTERS, Santander UK, IF, U.S . Federal Reserve, European Central Bank, KPMG, Investors, Bank of, Morgan Asset Management, Thomson Locations: Ukraine, London, Britain

☆ Key trio's absence won't hurt Europe's Ryder Cup hopes - Azinger
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

Garcia, Poulter and Westwood have played a combined 28 Ryder Cups but are part of LIV Golf and resigned from the European Tour, which made them ineligible to play the Ryder Cup at Marco Simone Golf and Country Club near Rome. "First of all, I think that the team dynamic and the team environment in the European room will be unfazed," Azinger said on an NBC Sports Ryder Cup media conference call. Garcia is the Ryder Cup's record points scorer with 28.5, while Westwood has played a record 11 matches, being part of seven winning teams. Poulter has also played a key role in some of Europe's biggest successes. This year's Ryder Cup runs from Sept. 29 to Oct. 1.

Persons: Ryder, Europe's Lee Westwood, Ian Poulter, Europe's Sergio Garcia, Jonathan Ernst, Sergio Garcia, Lee Westwood, Paul Azinger, Garcia, LIV Golf, Marco Simone Golf, Luke Donald's, Azinger, Westwood, Poulter, Curt Byrum, Frank Pingue Organizations: Team USA, Ryder, REUTERS, Poulter, Westwood, European, Country Club, NBC Sports Ryder, NBC Sports, Thomson Locations: Whistling Straits , Sheboygan , Wisconsin, U.S, Europe, Italy, Rome, Toronto

☆ King Charles arrives in France for state visit
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

[1/3] French Prime Minister Elisabeth Borne greets Britain's King Charles ( and Britain's Queen Camilla upon arrival at the Orly Airport on September 20, 2023, on the first day of a state visit to France. Here's the latest:* The plane carrying Charles and Camilla has landed at Paris' Orly airport, where they were greeted by French Prime Minister Elisabeth Borne. Charles and Camilla tweeted in English and French, along with a video of Charles getting on the plane. Your Majesty, welcome," Macron tweeted in English, alongside a video clip of Charles' past visits to France. Macron and Charles have in particular shared correspondence and insight on the restoration of the Notre-Dame cathedral, ravaged by fire in 2019.

Persons: Elisabeth Borne, Britain's King Charles, Queen Camilla, MIGUEL MEDINA, King Charles, Emmanuel Macron, Charles, Camilla, Borne, Mireille, Queen Elizabeth, Parisian Marie, Helene Aubree, Eric Frizzi, he's, Macron, À, Louis XIV, Hugh Grant, Charlotte Gainsbourg, Mick Jagger, Ken Follett, Emma Mackey, Bernard Arnault, Xavier Niel, Arsene Wenger, Didier Drogba, Michel Rose, Ingrid Melander, Bernadette Baum Organizations: French, Airport, REUTERS Acquire, Rights, France's, Parisian, European Union, Notre, Dame, of Mirrors, Thomson Locations: France, Paris, Bordeaux, Britain, of Versailles, British, French

☆ Charles is 'just the son': Parisians unfazed by king's visit to France
▼ + stars: | 2023-09-19 | by ( Noemie Olive | ) www.reuters.com time to read: +3 min

Charles, a fluent French speaker like his mother, is keen to walk in her footsteps and is likely to refer to the late queen's deep affection for France during the visit, officials said. All this combined together doesn't create much interest," said the 88-year old, who liked Queen Elizabeth and her horses. As part of the visit, Charles and Camilla will drive down the Champs-Elysees and view restoration works at the Notre-Dame cathedral following a massive blaze in 2019 that destroyed its roof. The trip is also a chance to rebuild ties that have been frayed by Britain's chaotic exit from the EU in 2020. In Britain, polls suggest Charles is less popular than his mother, who had strong support from much of the public.

Persons: Britain's King Charles, Queen Camilla, Princess Royal, Duke, Russell Cheyne, Brexit PARIS, King Charles, Queen Elizabeth, He's, Mireille, Charles, Camilla, France's Patrouille, Alexia Aubert, Elizabeth, King Charles isn't, Edouard Val de Lievre, Michael Holden, Elizabeth Pineau, Ingrid Melander, Bernadette Baum Organizations: Braemar Royal, Princess, REUTERS, Notre, Dame, Arrows, Britons, Thomson Locations: Braemar, Fife, Scotland, Britain, Paris, Bordeaux, France, Versailles, Bresse, England

☆ Some Parisians Unfazed by King Charles' Visit to France
▼ + stars: | 2023-09-19 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

By Noemie OlivePARIS (Reuters) - King Charles' state visit to France, from Wednesday to Friday, may be seen politically as a chance to rebuild ties between the two countries, but some Parisians said they were not impressed, and that they missed the late Queen Elizabeth. Charles, and his wife Queen Camilla, will be guests of honour at a state banquet in the gilded Versailles palace during the visit to France, Charles' first since becoming king a year ago. All this combined together doesn't create much interest," said Mireille, a retiree who liked Queen Elizabeth and her horses. Fifteen year-old Alexia Aubert said: "I think since Elizabeth died, the Royal family isn't as important as it was, King Charles isn't as important and symbolic as Elizabeth, so it doesn't really matter if he comes or not." In Britain, polls suggest Charles is less popular than his mother, who had strong support from much of the public.

Persons: Olive PARIS, King Charles, Queen Elizabeth, Charles, Queen Camilla, France's Patrouille, He's, Mireille, Alexia Aubert, Elizabeth, King Charles isn't, Edouard Val de Lievre, Michael Holden, Ingrid Melander, Bernadette Baum Organizations: Notre, Dame, Arrows, Britons Locations: France, Versailles, Britain, Paris, England

Inflation showed its sticky nature in July, rising slightly as increases in services costs offset a decline in the price of goods, the Bureau of Economic Analysis reported on Thursday. The personal consumption expenditures price index, a metric closely followed by the Federal Reserve, rose 0.2% for the month and 3.3% for the 12-month period. The core index, stripping out energy and food costs, rose 0.2% and 4.2%, respectively. “The decline in house prices appears to have abated, which means that the contribution from shelter to core inflation next year may stabilize if not increase. Upside inflation risk is also present in healthcare services where insurance prices are expected to rise this October along with a continued upward pressure on labor demand in the sector, thus suggesting higher wage costs.”

Persons: Joseph Brusuelas, Jerome Powell, ” Powell, ”, Shana Orczyk Sissel, Joe Davis Organizations: Economic, Federal, RSM, Dow Jones, Banrion Capital Management, Vanguard Locations: , Wyoming

☆ Peru slashes growth outlook amid falling copper investment
▼ + stars: | 2023-08-29 | by ( Marco Aquino | ) www.reuters.com time to read: +3 min

LIMA, Aug 29 (Reuters) - Peru lowered its economic growth forecasts for 2023 and 2024 on Tuesday amid poor weather, lower private investment in mining, and anti-government protests earlier this year. The South American country's economy is expected to grow 1.1% this year, the economy ministry said in Peru's official gazette. Next year, Peru's economy is expected to grow 3.0%, the ministry added, down from a previous estimate of 3.4%. That makes El Nino the largest immediate threat to Peru's economy, the government said. Meanwhile, Peru's estimated current account deficit was lowered to 1.6% of GDP, down from the 2.1% of GDP previously expected.

Persons: LIMA, El, Peru's, Alex Contreras, Marco Aquino, Kylie Madry, Isabel Woodford, David Holmes, Alistair Bell, Bill Berkrot Organizations: Peruvian Fiscal, El, El Nino, Finance, year's, U.S, Thomson Locations: Peru

Former President Donald J. Trump has done his best to appear unfazed and unbowed by having been indicted four times since March, but even he acknowledged that he did not enjoy one particular element of his booking in Georgia on Thursday night on racketeering charges: the mug shot. “It is not a comfortable feeling — especially when you’ve done nothing wrong,” he told Fox News’s website in an interview afterward. Nonetheless, he made the most of it. Not long after the release of the mug shot — the first taken of Mr. Trump in any of the criminal proceedings he faces and the first known to have been taken of any former president — it appeared prominently on Mr. Trump’s campaign website, under a “personal note from President Donald J. Trump.”At the bottom were several tabs users could click to donate to his campaign in small-dollar increments.

Persons: Donald J, Trump, you’ve, ”, Fox, — Organizations: Fox News’s, Mr, Trump, ” Locations: Georgia

The eight candidates who sparred in the GOP debate still face the tough challenge of chipping away at Trump’s lead in the race. NBC News’ Shaq Brewster watched the debate with a group of two-time Trump voters in Waukesha, Wis.. Asked to raise their hand if the debate made them interested in a candidate other than Trump, all four voters kept their hands down. Still, Benfield plans to support Trump’s campaign next year. Hoosier showdown: GOP Rep. Jim Banks’ Senate run got a boost during the GOP debate, with the conservative group launching an ad on Fox News supporting his bid.

Persons: Trump’s, Shaq Brewster, Scott, Trump, Mike Benfield, Brewster, Ramaswamy, “, ” Benfield, Benfield, ”, Biden, they’re, Peter Alexander, Elyse Perlmutter, Grace Jaworski, Megan Lebowitz, Ron DeSantis, fundraise, Donald Trump, DeSantis, Matt Dixon, David Sachs, Vivek Ramaswamy, Puck, ’ Ryan Reilly, Jim Banks, Banks, John Rust Organizations: GOP, NBC, Trump, New York, Florida Republican Gov, Florida Republicans, Senate, Fox News Locations: Waukesha, Wis, Reno, Nev, Florida, Atlanta, Fulton County

☆ Goldman Sachs: A government shutdown would be ‘manageable’ for the economy. That’s why it’s likely to happen
▼ + stars: | 2023-08-21 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Goldman Sachs is warning clients that Washington is on a collision course with its first government shutdown in five years. A shutdown later this year would wipe out 0.2 percentage points from growth per week, according to Goldman Sachs projections. Assuming just “modest” economic and market impact, a government shutdown should have “little effect” on central bank policy, according to Goldman Sachs. However, Goldman Sachs said a “prolonged” shutdown that starts in October could add to the arguments in favor of the Fed keeping policy on hold at the November meeting. The 2013 shutdown delayed the release of most federal economic reports, including ones on inflation, jobs and retail sales.

Persons: New York CNN — Goldman Sachs, ” Goldman Sachs, Goldman Sachs, Greg Valliere, Kevin McCarthy, ” Valliere Organizations: New, New York CNN, Justice Department, Fitch, Washington, Social Security, AGF Investments, Federal Reserve Locations: New York, Washington, Ukraine, —

☆ Iced Coffee and Flip-Flops as Europe Broils? Not So Fast, Americans.
▼ + stars: | 2023-08-15 | by ( Melina Delkic | More About Melina Delkic | ) www.nytimes.com time to read: 1 min

On a scorching June day on the Amalfi Coast of Italy, Chloe Madison and her boyfriend, Colin Pinello, stopped to have lunch in Positano, a glamorous town overlooking the Mediterranean Sea. With their refreshing caprese pasta plates and Aperol spritzes, they had one thought on their minds: ice water. But they knew that asking for it would be too American. While the Europeans around them seemed unfazed by the temperatures, she said, they felt parched. “Water was something we consistently had to request,” she said, and when they asked for ice it was “just a few cubes.”

Persons: Chloe Madison, Colin Pinello, spritzes, ” Locations: Amalfi Coast, Italy, Positano, “

☆ A Trump Stronghold, Unbothered by Indictments, Worries About Winning
▼ + stars: | 2023-08-14 | by ( Jenna Russell | More About Jenna Russell | ) www.nytimes.com time to read: +1 min

Follow our live updates on the Trump investigation in Georgia. Donald J. Trump has amassed a load of legal baggage that is hard to ignore: three indictments and 78 felony counts, including four for conspiring to overturn the 2020 election. In interviews this month with more than 20 residents who voted for Mr. Trump in 2016 and 2020, all but two dismissed the indictments as manufactured political theater. But in a twist that hints at burgeoning complexity within Republican circles, roughly half of the Trump voters interviewed here in recent days also said that while the indictments don’t bother them, they are increasingly concerned that Mr. Trump may not be able to win the general election. He was drinking coffee with a group of men; most of them agreed with his assessment.

Persons: Trump, Donald J, “ Trump, Roger, Alton McDonald’s Organizations: Mr, Trump, Alton Locations: Georgia, Fulton County ,, Alton, N.H

☆ After Queens Shark Bite, Drones Buzz Over Unfazed Beachgoers
▼ + stars: | 2023-08-13 | by ( Hurubie Meko | ) www.nytimes.com time to read: +1 min

The sky was clear over Rockaway Beach in Queens early Saturday afternoon. Lifeguards scanned the still waters, dotted by a few swimmers, and occasionally blew whistles to warn those who ventured too far into the ocean. The woman, Tatyana Koltunyuk, had been swimming alone near Beach 59th Street when she was bitten on the left leg, officials said. Jose Velez, 64, was at Beach 59th Street on Saturday with his wife, brother, sister-in-law and nieces and nephews. The family comes to the beach every year, he said, and had “never, never, never” heard of such an attack.

Persons: Tatyana Koltunyuk, Jose Velez, “, ” Organizations: Rockaway, Jamaica Hospital, Beach Locations: Rockaway Beach, Queens, Beach, Jamaica

☆ US investors flag retaliation risks after Biden's China tech curbs
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +4 min

But several portfolio managers said the bigger worry was whether China would strike back, as it has in the past. "It is naïve to think that there won't be some type of retaliation from China," said Tom Plumb, CEO of mutual fund Plumb Funds. China could restrict exports of rare earths used in consumer electronics, electric vehicles, and other components, or target other U.S. technology companies, Plumb said. SELF-SUFFICIENCYChina hawks in Washington say American investors have transferred capital and valuable know-how to Chinese technology companies that could help advance Beijing's military capabilities. Phillip Wool, a co-portfolio manager of Rayliant Quantamental China Equity ETF, said U.S.-China tensions were causing investors to miss out on China growth.

Persons: Florence Lo, Joe Biden's, Biden, Rick Meckler, Tom Plumb, Plumb, Michael Ashley Schulman, Phillip Wool, Shashwat Chauhan, Amruta, Chibuike Oguh, Laura Matthews, Herbert Lash, Davide Barbuscia, Michelle Price, Grant McCool Organizations: REUTERS, Cherry Lane Investments, China Exchange, Wall, Micron Technology, U.S, Funds, Reuters, Running, Capital Advisors, China Equity, Thomson Locations: China, U.S, Beijing, New Jersey, Washington, Rayliant

☆ Azarenka and Pliskova slog way into second round of rainy Canadian Open
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

[1/3] Aug 7, 2023; Montreal, Quebec, Canada; Victoria Azarenka serves against Magda Linette (POL) (not pictured) in first round play at IGA Stadium. Azarenka was unfazed by the rain, charging ahead 5-2 in the opening set before closing it out with a break just before play was stopped a second time. She romped through the second set, winning 24 of 31 points and breaking Poland's Linette three times. When play restarted, Zhu pounced, winning two points to clinch the tie-break 10-8. But the 31-year-old Czech quickly refocused in the decider, applying pressure and breaking Zhu three times to move onto the second round and a meeting with Polish world number one and reigning US Open champion Iga Swiatek.

Persons: Victoria Azarenka, Magda Linette, Eric Bolte, Karolina Pliskova, Azarenka, Sloane Stephens, Ukraine's, Pliskova, Zhu Lin, Sascha Bajin, Zhu, Zhu pounced, Iga Swiatek, Swiatek, Aryna Sabalenka, Steve Keating, Jamie Freed Organizations: Victoria, IGA, Canadian, Warsaw, Thomson Locations: Montreal, Quebec, Canada, Stuttgart, Pliskova, Czech, Toronto

England is the reigning European champion and one of the hot favorites to win this year's World Cup, but it's looked a little unsteady in the opening 21 minutes. It's failed to cope with Nigeria's intensity and is lucky to still be level. The African side, the clear underdog in this fight, looks unfazed and has enjoyed all the chances so far. Nigeria's Ashleigh Plumptre has already seen a shot crash off the crossbar and England goalkeeper Mary Earps has been very busy. Is another shock on the cards tonight?

Persons: it's, It's, Nigeria's Ashleigh Plumptre, Mary Earps Organizations: England Locations: England, European

☆ Hey Siri: Screen iPhone calls on Apple’s valuation
▼ + stars: | 2023-08-04 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

Signage is seen at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in Manhattan, New York City, U.S., September 16, 2022. REUTERS/Andrew KellyNEW YORK, Aug 3 (Reuters Breakingviews) - The iPhone 15 is probably coming soon, but the handset that anchors Apple (AAPL.O) is losing some of its allure. Apple sold nearly $40 billion of them in the quarter, a 2.5% dip from roughly the same three-month stretch in 2022. In 2017, though, existing U.S. owners waited 2.1 years to replace their iPhone, according to Consumer Intelligence Research Partners. The segment’s revenue reached a record $21 billion in the quarter, or 8% more than the same period a year ago.

Persons: Andrew Kelly NEW, Boss Tim Cook, Cook, Jeffrey Goldfarb, Sharon Lam Organizations: Apple, REUTERS, Andrew Kelly NEW YORK, Reuters, Consumer Intelligence Research Partners, Reuters Graphics Reuters, Apple Watch, Thomson Locations: Manhattan , New York City, U.S

☆ Why the World Health Organization's re-branding of aspartame as carcinogenic isn't a threat to soft drink makers
▼ + stars: | 2023-08-03 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Beverage analysts don't see a threat to diet soda makers from the World Health Organization's recent warning on artificial sweetener aspartame. But giants in the beverage industry that use aspartame, including Coca-Cola and Pepsi , are so far unfazed. Because the WHO didn't change the consumption limit on aspartame products, the new findings aren't likely to threaten soft drink makers, according to Citi analyst Filippo Falorni. For example, the WHO's says an adult weighing around 154 pounds should drink no more than 14 cans of diet soda each day to avoid health concerns. KO PEP YTD mountain Both soda stocks have been little fazed by the World Health Organization's recent concerns over aspartame.

Persons: Filippo Falorni, Falorni, we've, Robert Ottenstein Organizations: Beverage, Health, United Nations, U.S . Food, Drug Administration, Pepsi, Cola, WHO, Citi, World Health, Evercore ISI, Coke Locations: U.S

[1/2] Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally in Erie, Pennsylvania, U.S., July 29, 2023. More than a dozen Republican voters interviewed on Wednesday unanimously said the new charges would not affect their 2024 election choice. These voters seemed to accept Trump's contention that he is being targeted by Democrats because he is a political threat. "The only way I'd vote for anyone other than Trump is if Trump dropped dead before the primaries, and I don't see that happening," Silver said. The Republican voters who spoke to Reuters appeared unmoved by arguments by Trump's rivals that he likely would lose a November 2024 rematch with Biden.

Persons: Donald Trump, Lindsay DeDario, Trump, Joe Biden, Robin Bartholomew, Bruce Silver, Silver, Brian Demer, Ron DeSantis, Biden, Steven Wolverton, delegitimize Trump, Trump . Sharon Young, Young, Gram Slattery, Jasper Ward, Jason Lange, James Oliphant, Will Dunham, Colleen Jenkins Organizations: U.S, Republican, REUTERS, Democratic, Trump, New York Times, Florida, Reuters, Coca, Trump ., Newport, Thomson Locations: Erie , Pennsylvania, U.S, Van Buren County , Iowa, Myrtle Beach , South Carolina, Washington, United States, New York, Georgia, Loudoun County , Virginia, what's, Siena, St, Charles , Michigan, Trump, Newport News , Virginia

☆ Fitch downgrades US long-term credit rating to AA+ from AAA
▼ + stars: | 2023-08-01 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

“I strongly disagree with Fitch Ratings’ decision,” said Treasury Secretary Janet Yellen in a statement on Tuesday. The last time the US debt was downgraded by another major credit rating agency, S&P, came in 2011. Until 2011, US debt had carried a perfect credit rating since Moody’s Investors Service first assigned the United States a AAA rating in 1917. The country’s new Fitch rating puts it on par with Austria and Finland but below Switzerland and Germany. S&P has maintained its AA+ rating on the US after the 2011 downgrade while Moody’s has kept its AAA rating.

Persons: CNN — Fitch, “, Fitch, ” Fitch, Biden, ”, Janet Yellen, Karine Jean, Pierre, —, Chuck Schumer, Spokespeople, Kevin McCarthy, Moody’s, Larry Summers Organizations: CNN, AAA, Biden, Fitch, AA, Republican, Republicans, Moody’s Investors Service, Dow Jones, Nasdaq, Twitter Locations: United States, Austria, Finland, Switzerland, Germany

☆ Trump says it's really 'unpleasant' that he has to keep telling Melania he's been indicted again
▼ + stars: | 2023-07-31 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Trump says it's "always unpleasant" when he has to tell Melania about getting indicted again. I have absolutely no idea,'" Trump added. I have absolutely no idea,'" Trump continued. For one, Trump took two hours before finally going to face Melania after the infamous "Access Hollywood" tape was released back in 2016, per an excerpt from The Washington Post reporter Mary Jordan's book on Melania, "The Art of Her Deal: The Untold Story of Melania Trump." "He reserves — he listens to many of us, but he reserves fear for one person, Melania Trump," Conway told the committee's investigators.

Persons: Trump, Donald Trump, John Fredericks, Stormy Daniels, Mary Jordan's, Melania Trump, Kellyanne Conway, Melania, Conway Organizations: Service, Prosecutors, FBI, Washington Post, White, Capitol, Trump Locations: Wall, Silicon, Florida, Lago

July 31 (Reuters) - Economic sanctions have been the biggest headache for Russia's business elite since the start of the war in Ukraine, but a drone strike in the heart of Moscow's financial district is forcing companies to think about their employees' safety. Tech giant Yandex (YNDX.O), which has offices dotted around the Russian capital including in Moskva-Citi, asked staff to vacate offices at night, when strikes on the Russian capital have tended to occur. One financial services professional said he did not think the attack would deter people from going to Moskva-Citi. A Telegram channel run by the Russian online media group Mash broadcast photos of the damage done to the digital ministry's headquarters. For one employee at a large Russian company, the attack was a "really scary" warning.

Persons: Nobody, Yandex, Dmitry Peskov, Volodymyr Zelenskiy, Gareth Jones, Mark Potter Organizations: Sunday, Citi, Kremlin, Tech, Reuters, Telegram, Thomson Locations: Ukraine, Moskva, Ukrainian, Russia, Moscow, Kyiv, Russian

☆ Mastercard beats profit estimates on spending boost
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - Mastercard (MA.N) on Thursday reported a bigger-than-expected rise in second-quarter profit, boosted by resilient spending in a turbulent economy. On Tuesday, Mastercard's peer Visa reported its smallest jump in quarterly profit in more than two years. American Express (AXP.N) also kept its full-year profit forecast unchanged despite reporting record spending last week. Excluding one-time costs, New York-based Mastercard earned $2.89 per share for the three months ended June 30, beating expectations of $2.82 per share, according to Refinitiv IBES data. Cross-border volume, a gauge of travel demand that tracks spending on cards outside the country of their issue, jumped 24%.

Persons: Niket, Shinjini Organizations: Mastercard, Federal Reserve, Visa, American Express, Thomson Locations: New York, Bengaluru

☆ Netanyahu warns against overturning controversial new law in CNN interview
▼ + stars: | 2023-07-27 | by ( Tara John | ) edition.cnn.com time to read: +5 min

“What you’re talking about is a situation, or potential situation, where in American terms, the United States’ Supreme Court would take a constitutional amendment and say that it’s unconstitutional. The law, which would limit the power of Israel’s Supreme Court, is an amendment to one of Israel’s Basic Laws, which exist in place of a formal constitution. The Supreme Court has said that it will hear appeals against the law in September. Israel’s new law strips the Supreme Court of the ability to reject some government decisions on the basis of the “reasonableness” standard. Amir Cohen/ReutersThe country has no upper chamber of the parliament, but it has a relatively strong Supreme Court.

Persons: Wolf, Benjamin Netanyahu, CNN —, ” Netanyahu, CNN’s Wolf, Ariel Schalit, Joe Biden, Netanyahu, we’re, We’re, ”, Amir Cohen, Blitzer, they’re, unfazed Organizations: CNN, CNN — Israel’s, United States ’, Biden White House, AP Locations: United, Tel Aviv, Israel, United States, Iran, American

☆ Alphabet rallies as Google Search unfazed by challenge from Microsoft's Bing
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

July 26 (Reuters) - Alphabet (GOOGL.O) rallied nearly 7% on Wednesday on signs its dominant Google Search business was faring well in an uncertain advertising market and remained unscathed in the face of competition from an AI-powered Microsoft Bing. Wall Street analysts said the company's better-than-expected quarterly earnings showed the strong position of Google Search, steady growth in the cloud business and that Alphabet was well placed to compete with Microsoft in AI. "Don't call it an AI comeback," said analysts at Jefferies, adding that Google has been AI-first company seven years. The median price target on Alphabet now stands at $138, which is nearly 13% higher than the stock's last close. The company has a 12-month forward price-to-earnings ratio of 20.51, compared with Microsoft's 31.11 and the industry median of 15.29.

Persons: Microsoft Bing, Jefferies, Aditya Soni, Saumyadeb Organizations: Google, Microsoft, Wall Street, Jefferies, Windows, Thomson

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