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☆ Tesla's Shanghai factory workers welcome bonus increase after record deliveries
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File PhotoSHANGHAI, July 14 (Reuters) - Several workers at Tesla's (TSLA.O) Shanghai plant, its biggest manufacturing hub globally by output, said they had been awarded a large increase in their latest quarterly performance bonuses. Three workers told Reuters that they had received bonuses of 1.5 times of monthly base salary for the second quarter. This was higher than the quarterly bonuses - 1.2 times the monthly salary - that the majority of workers used to receive for average performance, the workers said. One of the workers said that his performance bonus had doubled this month on the first quarter, when it was cut to 0.785 times the month salary. But the move comes after Tesla delivered 247,000 units of China-made electric vehicles in the second quarter, the highest level since its Shanghai plant opened.

Persons: Aly, Elon Musk, Tesla, Musk, Zhang Yan, Brenda Goh, Zhuzhu Cui, Louise Heavens Organizations: REUTERS, U.S, Reuters, Thomson Locations: Shanghai, China, SHANGHAI, Tesla's

☆ Incredible US national park campgrounds you can’t drive to
▼ + stars: | 2023-07-13 | by ( Joe Yogerst | ) edition.cnn.com time to read: +9 min

Even though most national park campgrounds are easily accessible by motorized vehicles, some of the coolest digs are in places that you can’t drive to. Below are eight incredible national park campgrounds that you can’t drive to. Bright Angel Campground (Grand Canyon National Park)The Bright Angel campground is located next to a creek at the end of the South Kaibab Trail in Grand Canyon National Park. Washington Creek (Isle Royale National Park)Washington Creek, part of Michigan's Isle Royale National Park, has 10 camp sites. Sea Camp Beach (Cumberland Island National Seashore)The Cumberland Island National Seashore sits off the coast of Georgia.

Persons: we’re, CNN —, you’ve, doesn’t, Ashley Cooper, John Muir, you’re, Jim West, Weaver, Michael Shi, Joe Yogerst, ” Organizations: CNN, Key West, Yankee, Island Packers, Yosemite Valley, Nature, Washington Creek, Recreation, Washington State, Co, Cumberland, Getty Locations: Florida, Fort Jefferson, Santa Cruz, California, Ventura Harbor, Yosemite, Little Yosemite Valley, Vernal, Nevada, Maui, Palikū, Washington, Michigan's Isle, Lake Superior, Windigo, Isle, Grand Portage , Minnesota, Houghton , Michigan, Chelan, Lake Chelan, Weaver, Beach, Georgia, Stafford Plantation, Parks

☆ Deutsche Bank's second half playbook for the transports sector
▼ + stars: | 2023-07-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank's second half playbook for the transports sectorAmit Mehrotra, Managing Director of Transports & Shipping, discusses the outlook for the transports industry for the second half of 2023.

Persons: Amit Mehrotra Organizations: Deutsche, Transports & Shipping

☆ What’s in Our Queue? ‘Hunger’ and More
▼ + stars: | 2023-07-12 | by ( Jin Yu Young | ) www.nytimes.com time to read: 1 min

What’s in Our Queue? ‘Hunger’ and MoreI’m a reporter-researcher in The Times’s Seoul bureau covering news from the South Korean peninsula. Lately I’ve been finding content that is not only entertaining but also transports its audience into another universe. Here are five things I’ve been watching, reading and listening to →

Persons: I’ve Locations: Seoul

☆ Global shipping industry climate pledge slammed as a ‘wishy washy’ compromise
▼ + stars: | 2023-07-07 | by ( Laura Paddison | ) edition.cnn.com time to read: +4 min

CNN —The shipping industry has agreed a climate pledge to reduce its planet-heating pollution to net zero “by or around” 2050. That changed on Friday, when the International Maritime Organization, the UN body that regulates global shipping, published a new climate strategy after days of negotiations between the organization’s 175 member states. IMO secretary-general Kitack Lim said in a statement that the new climate strategy provides a “clear direction, a common vision, and ambitious targets.”Industry groups welcomed the deal. John Maggs, the president of the Clean Shipping Coalition criticized the “vague and non-committal language” in the new climate strategy. Countries pledged in the Paris Climate Agreement to limit global warming to well below 2 degrees – and preferably to 1.5 degrees – compared to pre-industrial temperatures.

Persons: Kitack Lim, Simon Bennett, Albon, ” Ralph Regenvanu, John Maggs, Faïg, ”, IMO’s Lim, “ Organizations: CNN, International Maritime Organization, UN, ” Industry, International Chamber of Shipping, Clean Shipping Coalition, Environment Locations: Paris, Marshall, Vanuatu

☆ Nigeria's cost-of-living crisis is getting worse daily after an 'abrupt' fuel hike
▼ + stars: | 2023-07-07 | by ( Nimi Princewill | ) edition.cnn.com time to read: +9 min

“The hike in fuel price has caused a scarcity of passengers,” Hanwa, 50, added. “Before the hike in fuel price, Abuja to Kano was 5,500 ($7.26) but is now 8,500 ($11.22),” he said. Successive governments had carried on with fuel subsidy since its introduction in the 1970s but had also mooted deregulating the country’s oil sector. Along with soaring transport fares, food prices and costs for other essentials have skyrocketed across the country. Economist Bismarck Rewane agrees that halting fuel subsidy “makes economic sense,” but mentions that the saved proceeds from the scheme must be ploughed back into bettering the lives of Nigerians.

Persons: Hanwa, ”, ” Hanwa, Jume Hanwa, Nimi Princewill, Bola Tinubu, Tinubu, Usman Imam, “, Sam Amadi, ” Amadi, ” Fabian Grace, Grace, who’s, Fabian Grace, ” Grace, “ I’ve, I’m, Bismarck Rewane, ” Rewane Organizations: Nigeria CNN —, CNN, CNN Transport, National Petroleum Corporation, ” Travelers, Usman, Abuja School of Social Locations: Abuja, Nigeria, Nigeria’s, Nimi, Kano, Africa’s, Maraba, Nasarawa State, Edo State

☆ 6 Podcasts to Help You Take an Actual Break This Summer
▼ + stars: | 2023-07-03 | by ( Emma Dibdin | ) www.nytimes.com time to read: +3 min

The name is a deliberate misnomer; there are no actual crimes on “Petty Crimes,” just the kinds of trivial mini-battles that inevitably arise when strangers coexist. Starter episode: “Signed, Karma”In a saturated marketplace of meditation apps, Headspace is a long-running mainstay. Hosted by Robin Hopkins, an actress and writer, “Dear Headspace” centers on listener-submitted questions about mental health, relationships, life transitions and more. In each episode, Hopkins answers questions alongside a rotating cast of Headspace meditation teachers, whose voices will be familiar to users of the app. This BBC radio program is tailor-made for those moments — immersive soundscapes from around the world, interspersed with snippets of gentle narration.

Persons: “ Adele ”, “, ”, Griff Stark, —, Cassie, Robin Hopkins, Hopkins, Kessonga, Slate’s Willa Paskin, Sherlock Organizations: Ceara O’Sullivan, BBC Locations: Ennis, America, Nashville

☆ TipRanks reveals the top 10 Wall Street basic materials sector analysts
▼ + stars: | 2023-07-02 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

TipRanks recognized the 10 best analysts in the basic materials sector who delivered noteworthy returns and whose recommendations outperformed their peers. In the process, it analyzed every recommendation by analysts in the basic materials sector over the past 10 years. Then, TipRanks' algorithms calculated the statistical significance of each rating, analysts' overall success rate and the average return. Top 10 analysts from the basic materials sectorThe image below shows the most successful Wall Street analysts from the basic materials sector. T J Schultz — RBC CapitalT J Schultz has the 10th spot on the list, with a success rate of 63%.

Persons: Rafael Henrique, Lightrocket, TipRanks, Dan Payne, Bank Dan Payne, Payne, Leo Mariani — Roth MKM Leo Mariani, John Freeman — Raymond James Raymond James, John Freeman, Freeman, Poe Fratt, Global Partners Poe, Elvira Scotto —, Elvira Scotto, Vincent Lovaglio, Scott Hanold, Michael Harvey —, Michael Harvey, Harvey, Dalton Baretto, Canaccord Genuity Dalton Baretto, T J Schultz —, J Schultz Organizations: Bank, Birchcliff Energy, Resources, Vital Energy, Global Partners, Elvira Scotto — RBC, Crestwood Equity Partners, Mizuho Securities, Comstock Resources, RBC Capital RBC Capital, Matador Resources, Michael Harvey — RBC Capital, RBC Capital, Seven Generations Energy, Generations Energy, ARC Resources, T J Schultz — RBC, Targa Resources Locations: Canada

☆ A shipping emissions showdown stands in the way of one of the biggest climate deals of the decade
▼ + stars: | 2023-06-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

The IMO is expected to update its current target of halving shipping emissions by 2050, from 2008 levels, but many are concerned about the maritime regulator's appetite to embrace interim targets. There is a lot of outside pressure pushing on the IMO because it is the climate negotiation of the summer. Gregor Fischer | Getty Images News | Getty ImagesIf stringent abatement measures are not implemented, the IMO has warned that shipping emissions could jump by up to 50% by mid-century. The 1.5 degrees Celsius goal is recognized as a crucial global target because beyond this level, so-called tipping points become more likely. Stefan Rousseau - Pa Images | Pa Images | Getty ImagesAsked which delegates were likely to seek to block calls for tougher climate targets, Maggs replied, "I think there are, of course, the usual suspects.

Persons: Aoife O'Leary, Opportunity Green John Maggs, Maggs, Gregor Fischer, General Kitack Lim, " Lim, Stefan Rousseau Organizations: International Maritime Organization, Getty, Environment, Opportunity, Clean Shipping Coalition, CNBC, United, Chamber of Shipping, Associated Press, ICS Locations: London, decarbonize, Paris, Germany, Russia, Saudi Arabia, United Arab Emirates, Argentina, Brazil, India

June 27 (Reuters) - U.S. stock indexes rebounded on Tuesday from a recent losing streak as upbeat economic data soothed investor worries about an imminent recession triggered by the Federal Reserve's aggressive interest rate hikes. While the economic data was encouraging, Rhys Williams, chief strategist at Spouting Rock Asset Management, said the market also rose on seasonal factors. "You'd a bad week in the stock market last week and a bad day on Monday. According to preliminary data, the S&P 500 (.SPX) gained 49.25 points, or 1.14%, to end at 4,378.07 points, while the Nasdaq Composite (.IXIC) gained 219.71 points, or 1.65%, to 13,555.49. Signs of U.S. economic resilience also boosted the Dow Transports index (.DJT) and small-cap Russell 2000 index (.RUT).

Persons: Rhys Williams, It's, Williams, Russell, Jerome Powell's, hawkish, Dow, Sinéad Carew, Sruthi Shankar, Johann M, Terence Gabriel, Shinjini Ganguli, Richard Chang Organizations: Federal, Management, Dow, Nasdaq, Dow Jones, Dow Transports, Traders, bps, European Central Bank, Microsoft Corp, Apple Inc, Amazon.com Inc, Tesla Inc, Nvidia Corp, Inc, Citigroup, Nvidia, Walgreens Boots Alliance, CVS Health Corp, Rite Aid Corp, Lordstown Motors Corp, U.S, Thomson Locations: Sintra , Portugal, U.S, New York, Bengaluru

☆ Encrypted phone service 'Encrochat' shutdown leads to 6,500 arrests - Europol
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

[1/5] EncroChat and Europol logos are seen in this illustration taken, June 27, 2023. REUTERS/Dado Ruvic/IllustrationAMSTERDAM, June 27 (Reuters) - European policing agency Europol said on Tuesday that the takedown of Encrochat, an underground company that offered criminals supposedly secure encrypted communications, led to more than 6,500 arrests and 900 million euros ($980 million) in seized assets. Police have analysed more than 115 million "criminal conversations", Europol said, helping prevent "violent attacks, attempted murders, corruption and large scale drugs transports." Europol said the company had routed encrypted communications through servers in France. "Eventually, it was possible to place a technical device to go beyond the encryption technique and obtain access to users’ correspondence," Europol said on Tuesday.

Persons: Dado Ruvic, Europol, Encrochat, Toby Sterling, Christina Fincher Organizations: REUTERS, Police, British, German, Thomson Locations: AMSTERDAM, Europe, Lille, France

☆ I drove an electric RV from London to Paris. One big problem on the way back gave me serious range anxiety.
▼ + stars: | 2023-06-24 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +6 min

I took a different route home and suffered serious range anxiety after almost running out of charge. Route to ParisThe electric ID. Unfortunately, the availability of charging stations on this road was a very different experience. For some reason, this charging station required drivers to have their own cable. The French countryside was beautiful, but the lack of charging stations on one road was stressful.

Persons: Buzz that's, that's, there's, It's, Tim Levin Organizations: Volkswagen, Morning, US, Wild Drives, Folkestone, Seine Locations: London, Paris, England, France, Brighton, Folkestone, Calais

☆ Factbox: EU targets sanctions circumvention with 11th package against Russia
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +4 min

- The EU is banning the transit of certain sensitive goods like advanced technology or aviation-related materials, exported from the EU to third countries, via Russia. - Some companies, unable to sell sanctioned goods to Russia, sold Moscow the production rights to these goods so that Russia can produce them locally. The EU has now banned the sale, licensing, transfer or referral of intellectual property rights to Russia for the manufacture of sanctioned goods outside the EU. ENERGY MEASURES- The EU package ends the possibility of importing Russian oil by pipeline to Germany and Poland. OTHER- The EU extends a ban on Russian media broadcasting in the EU to five additional channels.

Persons: Jan Strupczewski, Susan Fenton Organizations: European, Russia, EU, United Arab, Caspian Pipeline Consortium, Ukrainian, Thomson Locations: BRUSSELS, Ukraine, Russia, China, Uzbekistan, United Arab Emirates, Syria, Armenia, EU, Moscow, Russian, Germany, Poland, Japan

☆ Lightning Round: It's never too late to sell ADT 'it has been an abomination', says Jim Cramer
▼ + stars: | 2023-06-22 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: It's never too late to sell ADT 'it has been an abomination', says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Cummins, Simon Property Group, ADT, Abbvie, Datadog, Evergy, Marten Transports, Atlas Energy Solutions, SoFi, c3.ai and Spotify.

Persons: It's, Jim Cramer, Cummins Organizations: Simon Property Group, Marten Transports, Atlas Energy Solutions, Spotify Locations: Marten

☆ ‘Good Vibrations’ Review: The Saving Power of Punk
▼ + stars: | 2023-06-21 | by ( Laura Collins-Hughes | ) www.nytimes.com time to read: +1 min

named Terri Hooley runs into a pair of local toughs — young men who’ve found their purpose in the gunfire and explosions of a sectarian conflict pitting Protestants against Catholics. “Take them dancing, like you used to.”Is it bad to call a punk rock musical charming? I hope not, because “Good Vibrations” — a biomusical about the real Terri Hooley, who became the idealistic, stalwart champion of Belfast’s nascent punk scene — absolutely is. Directed by Des Kennedy for the Lyric Theater, Belfast, it portrays music as a defiantly joyous refuge from ugliness and danger. Far from romanticizing mayhem, it presents Northern Irish punk as a youthful life force in opposition to it.

Persons: Terri Hooley, who’ve, Hank Williams, ”, Des Kennedy, Colin Carberry, Glenn Patterson Organizations: Lyric Theater, Northern, Beach, Irish Arts Center Locations: Belfast, Northern Ireland, Manhattan

☆ Here's what an overbought market and endless negativity tell me to do this week
▼ + stars: | 2023-06-19 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

There are too many articles and postings about how we are overdoing artificial intelligence, and how there's not enough substance to justify recent market moves. Still, I am worried about this week because for the first time in a bit I think we need to do some serious digesting. Given the market is officially overbought, I think I will wait until we have a couple of days down before it's worth pulling the trigger. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: That's worrisome, Joe Biden's, Campbell, Jim Cramer's, Jim Cramer, Jim, Squawk, Virginia Sherwood Organizations: Nasdaq, Nvidia, Microsoft, Google, Oracle, Broadcom, Marvell, Research, Federal Deposit Insurance Corporation, Walmart, Costco, Adobe, Strategic Petroleum Reserve, Federal Reserve, CNBC

☆ Woods: Transports and small caps will rotate into market leadership positions
▼ + stars: | 2023-06-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWoods: Transports and small caps will rotate into market leadership positionsJay Woods, Chief Global Strategist at Freedom Capital Markets, discusses what's driving the market rally following the recent Fed decision.

Persons: Jay Woods Organizations: Chief Global, Freedom Capital Markets

☆ How riding rockets going 4,000 mph into suborbital space could slash international flight times from 22 hours to 2
▼ + stars: | 2023-06-16 | by ( Kelly Burch | ) www.businessinsider.com time to read: +6 min

This idea of point-to-point rocket travel, however, could be uncomfortable and inconvenient. Space companies that are exploring the technologyWhile no one is going from Down Under to Big Ben in less than 24 hours these days, some space companies are already testing the technology needed for point-to-point rocket travel. No company has announced projected ticket prices for point-to-point rocket trips, but if other space travel is any indication they'll likely be super expensive. Currently, you can book a two-hour space flight with Virgin Galactic for $450,000. But he's not planning any future point-to-point rocket flights because it's not worth the hassle.

Persons: —, David Doughty, Admiral Jet, Doughty, Big Ben, Richard Branson, Elon Musk, Jeff Bezos, Joe Cassady, there's, Thompson, Cassady, It's, he's Organizations: SpaceX, Service, Qantas, Rockets, Passengers, Virgin Galactic, Rocket, astronautics, US Air Force, NASA, Astronauts, Travelers Locations: London, Sydney, New York, Boca Chica , Texas, Mexico

☆ Canada just seized one of Russia's dwindling supply of massive heavy-lift cargo planes
▼ + stars: | 2023-06-16 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

The aircraft was an Antonov An-124, one of the biggest transport aircraft in the world. It was one of the few heavy-lift transport aircraft that Russia's military still has in operation. This month, Canada confiscated an Antonov An-124, one of the biggest transport aircraft in the world. Soon afterward, Canada closed its airspace to Russian aircraft in response to Moscow's attack on Ukraine on February 24. A Volga Dnepr Airlines Antonov An-124 grounded at Canada's Pearson International Airport in May 2022.

Persons: Antonov, —, Canada's, Steve Russell, Putin's, Ruslan Kaniuka, Jan Woitas, Antonov —, Michael Peck Organizations: Service, Pearson Airport, Volga Dnepr, Volga Dnepr Airlines Antonov, Canada's Pearson International Airport, Toronto Star, Getty, Wall Street, Dnepr Airlines LLC, Dnepr Group, Canada, Crown, Government, Kyiv, Antonov, Publishing, Soviet, Royal United Services Institute, International Institute for Strategic Studies, Russian Air Force, NASA, SpaceX, NATO, Soviets, Defense, Foreign Policy, Twitter, LinkedIn Locations: Canada, Russian, Toronto, Ukraine, Volga Dnepr Airlines, Volga, Hostomel, Soviet, British, Russia, Afghanistan, Iraq, Ukrainian, Crimea, Forbes

OTTAWA, June 15 (Reuters) - At least 15 people were killed in the Canadian prairie province of Manitoba on Thursday after a semi-trailer truck hit a small bus that was carrying a group of mainly elderly people, police said. The crash occurred at the junction of two major roads near the town of Carberry in southwestern Manitoba, 170 km (105 miles) west of Winnipeg. The bus passengers had been on their way to a casino in Carberry, CBC News reported, citing a casino spokesperson. THIS IMAGE MAY OFFEND OR DISTURB Police secures the area at the crash scene near Carberry, Manitoba, Canada June 15, 2023 in this still image obtained from a social media video. "My heart breaks hearing the news of the tragic accident near Carberry," Manitoba Premier Heather Stefanson said on Twitter.

Persons: We've, Rob Hill, Hill, Mike Blume, Justin Trudeau, Heather Stefanson, David Ljunggren, Ismail Shakil, Nia Williams, Sandra Maler, Matthew Lewis, Grant McCool Organizations: OTTAWA, CBC News, Manitoba Royal Canadian Mounted Police, Police, REUTERS Media, Handi, Canadian Broadcasting Corporation, Winnipeg Free Press, Twitter, Thomson Locations: Manitoba, Carberry, Winnipeg, Canada, Carberry , Manitoba, tarpaulins, Saskatchewan, Quebec, Ottawa, British Columbia

☆ Cramer lists reasons to book some profits in this lofty market. 'You only need to get rich once'
▼ + stars: | 2023-06-11 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

Unlike the ridiculous short squeezes that brought about GameStop 's (GME) meme-stock maina 2½ years ago, the current market is making some sense. That means by Wednesday's Club meeting, right ahead of the Fed rate announcement, we could have a backdrop suggesting that we deserve to broaden. Bottom line Until Wednesday's Club meeting you know my mindset. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Lisa, Guy, It's, mutt Nvidia, Jerome Powell's, there's, Banks, Nvidia's, Fosforo, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: CNBC, Club, Nvidia, GameStop, Apple, Microsoft, Federal, Fed, Web Services, Palo Alto Networks, Broadcom, Marvell, Baltic, Wednesday's Club, Wine, Jim Cramer's Charitable Locations: Long, China

☆ Deutsche: Recent West Coast port strikes are nothing like the pandemic back-ups
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche: Recent West Coast port strikes are nothing like the pandemic back-upsAmit Mehrotra, Managing Director at Deutsche Bank, discusses how the West Coast port strikes are impacting the transports industry.

Persons: Amit Mehrotra Organizations: Deutsche, Deutsche Bank Locations: West Coast, West

☆ Apple Vision Pro: Impressive specs, new way of interacting could help it break the VR curse
▼ + stars: | 2023-06-09 | by ( Kif Leswing | ) www.cnbc.com time to read: +11 min

The Apple Vision Pro is significantly more powerful than nearly all competing products on the market. Huge specsThe new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California. A new interfaceApple Vision Pro Source: AppleJust as the iPhone did, the Apple Vision Pro introduces a new kind of user interface. Apple Vision Pro Source: AppleEye tracking often uses small sensors to see where the user's gaze is resting. The Apple ecosystemApple CEO Tim Cook stands next to the new Apple Vision Pro headset.

Persons: what's, Inbar, Tipatat Chennavasin, Apple, Justin Sullivan, Avi Greengart, Chennavasin, Jamin Hu, Steve Kovach, Hu, Mac, Tim Cook, Sean Mann, Greengart, Mann Organizations: Apple, Engineers, University of Utah, Nintendo, Microsoft, Meta, Google, Sony, Nvidia, Fund, Superventures, Venture, Apple Vision, Apple Worldwide, Apple Vision Pro, Vision, Getty Locations: Cupertino , California, Apple's, iPhones

Despite hitting an 18-month low of 4.70% in April, analysts do not expect India's inflation to fall to the Reserve Bank of India's (RBI) 4% medium-term target in a sustainable manner for some time. India has raised rates by 250 basis points (bps) since May 2022, but surprised analysts in April by keeping them unchanged. India's hold on rates contrasts with recent central bank actions elsewhere. "Our goal is to achieve the inflation target of 4% and keeping inflation within the comfort band of 2-6% is not enough," Das said. Das said that the central bank would remain "nimble" with its liquidity operations amid spikes in overnight rates despite surplus liquidity in the banking system.

Persons: Shaktikanta Das, OIS, Das, Michael Patra, Suvodeep Rakshit, Gaura Sen Gupta, Swati Bhat, Sudipto Ganguly, Ira Dugal, Krishna N, Sam Holmes, Kim Coghill Organizations: REUTERS, Reserve Bank of India's, MPC, Reserve Bank of Australia, Bank of Canada, Reuters, Reuters Graphics Reuters, IDFC, Thomson Locations: Delhi, India, Anushree, MUMBAI

☆ Futures muted as bond yields rise on rate jitters
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.01%, S&P 0.06%, Nasdaq 0.09%June 8 (Reuters) - U.S. stock index futures were largely flat on Thursday as government bond yields hovered near recent highs on worries that major central banks could keep raising interest rates. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) closed lower on Wednesday, with megacap stocks leading declines as U.S. bond yields rose after the Bank of Canada (BoC) surprised markets with an interest rate hike. The 2-year Treasury yield , which tends to move in step with short-term rate expectations, rose for a third day to 4.56%, as investors await the Federal Reserve meet next week. Eventually we don't think the Fed will hike in July," Jefferies strategist Mohit Kumar said. They see a 50% chance of a rate hike in July.

Persons: Jefferies, Mohit Kumar, Russell, Thierry Breton, Ryan Cohen, Zhu Jiang, Sruthi Shankar, Vinay Dwivedi Organizations: Dow, Nasdaq, Bank of Canada, BoC, Microsoft Corp, Apple Inc, Amazon.com Inc, Treasury, Reserve, Traders, U.S . Labor Department, Dow e, Meta, Inc, GameStop Corp, Thomson Locations: U.S, KBW, China, Bengaluru

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