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Atos also said on Tuesday that it plans a 900 million-euro share sale to further shore up its balance sheet. The company said 180 million euros of the shares in the capital raise would be reserved for EPEI, giving it a 7.5% stake in Eviden. The sale of the remaining 720 million euros of new shares will be underwritten by BNP Paribas and JP Morgan, the company said. The expected sale would bring in 100 million euros in cash and cut 1.9 billion euros worth of liabilities from the tech company's balance sheet, Atos said. The sale gives an enterprise value of 2 billion euros to the sold division, which generated 4.5 billion euros of core revenue last year and employs 52,000 people.
Persons: Daniel Kretinsky, Atos, JP Morgan, Nathalie Senechault, Paul Saleh, Mathieu Rosemain, Sudip Kar, Edmund Klamann, Sharon Singleton Organizations: PARIS, Casino, Tech Foundations, Equity Investment, BNP, Thomson Locations: Czech, Europe, France, Eviden
SummaryCompanies Casino cut supermarket food prices by 10% on averagePARIS, July 27 (Reuters) - Cash-strapped retailer Casino (CASP.PA) swung to a loss of 233 million euros ($258.5 million) for the first half as falling sales and price cuts at its hypermarkets and supermarkets dented its core French business. The French retailer's group operating loss came after a profit of 166 million euros in the first half of 2022, with its operations in France posting a loss of 299 million euros. Consolidated group net sales fell 1.2% like for like in the second quarter to 5.5 billion euros, with retail sales in France down 4.2%. "We don't intend to go further," Lubek said when asked about possible further price cuts. Group net debt at end June-2023 was 6.1 billion euros against 6.0 billion at end June-2022.
Persons: Daniel Kretinsky, Jean, Charles Naouri, David Lubek, Lubek, France's, Dominique Vidalon, Kim Coghill Organizations: Casino, Finance, Consolidated, Thomson Locations: PARIS, French, France, Lincoln
"Smart tattoo" ink shows up here as the blue dots, activated by UV light during testing at Carson Bruns' lab in Boulder, Colorado. “We hope our results will ultimately inform Magic Ink and all tattoo ink manufacturers how to optimize the biocompatibility of their pigments in due time. A “check-engine light”Researchers say one advantage of smart tattoos over wearable technology such as smart watches or glucose monitors is that they can’t be hacked or run out of battery. A tattoo artist in London practices with smart ink developed by researcher Ali Yetisen on a piece of pig skin. He envisions a future where astronauts could utilize smart tattoos in space to gauge radiation exposure, for infectious disease detection in the general public or to help monitor chronic disease.
Persons: , Ali Yetisen, ” Yetisen, Yetisen, , Carson Bruns, American Cancer Society . Bruns, Bruns, Jesse Butterfield, don’t, ” Bruns, Wearables, Dr, Daniel Kraft, Kraft, you’ll, CNN’s Michelle Cohan Organizations: CNN, Department of Chemical Engineering, Imperial College London, Harvard Medical School, Harvard, MIT, American Cancer Society ., University of Colorado, FDA, Science Foundation Locations: University of Colorado Boulder, Boulder , Colorado, United States, Yetisen’s, London
Does Israel Need So Much Aid? - The New York Times
  + stars: | 2023-07-22 | by ( Nicholas Kristof | ) www.nytimes.com   time to read: +1 min
One sign of changed times: Almost a quarter of Israel’s arms exports last year went to Arab states. Aid to Israel is now almost exclusively military assistance that can be used only to buy American weaponry. In reality, it’s not so much aid to Israel as it is a backdoor subsidy to American military contractors, which is one reason some Israelis are cool to it. “Israel should give up on the American aid,” Yossi Beilin, a former Israeli minister of justice, told me. “Israel’s economy is strong enough that it does not need aid; security assistance distorts Israel’s economy and creates a false sense of dependency,” Kurtzer said in an email.
Persons: it’s, , ” Yossi Beilin, Daniel Kurtzer, ” Kurtzer, Israel, Organizations: jihadis Locations: Israel, Japan, Niger, United States, “ Israel, American
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rice prices riseWhether your carbohydrate of choice is rice, bread or noodles, expect to pay more for it. Global rice prices are already at a record high because of shortages. Morgan Stanley picks a list of global stocks it thinks will beat the market — and are priced less than the bank thinks they're worth.
Persons: Dow, Elon Musk, China Nicholas Burns, Daniel Kritenbrink, Gina Raimondo, Morgan Stanley Organizations: CNBC, Dow outperforms, Dow Jones, Nikkei, Initiative, Elon, SpaceX, Twitter, The Boring Company, NBC News, State, Commerce, Global Locations: Dow outperforms U.S, Asia, Pacific, India, Russia, China, East Asia
Partnering with a young, popular trans woman could help a brand like Bud Light reach a more youthful demographic. But because Bud Light managed to alienate everyone, it hasn’t gotten the benefit of a buycott. In the week ending on July 8, Bud Light sales, by dollar, fell nearly 24% year-over-year, according to data provided by Williams. Others are more breezy, showing people enjoying Bud Light despite the inconveniences of summer (sunburn, thunderstorm). Bud Light is “coming back,” said Marcel Marcondes, AB InBev’s chief marketing officer, during the Cannes Lions International Festival of Creativity in June.
Persons: Ron DeSantis, Bud Light, influencer Dylan Mulvaney, Bud, BUD, , Mulvaney, Lamar Taylor, “ prudently, DeSantis, Taylor, Scott Olson, Bud Light’s, Dylan Mulvaney, Anheuser Bush, — Anheuser, Brendan Whitworth, , LIV, Rob Carr, buycotts, hasn’t, Bump Williams, Williams, Busch, Whitworth, ” Whitworth, Marcel Marcondes, ” Daniel Korschun, ” Korschun, Erin Reed, Elon Musk, he’s Organizations: New, New York CNN, Florida Gov, Republican, Bud Light, Anheuser, Busch InBev, State Board of Administration, AB InBev, CNN, Busch, “ Anheuser, Gallup, — Anheuser Busch’s, America, Trump National Golf Club, Modelo Especial, InBev’s, Cannes Lions International, Creativity, Drexel University, InBev, Republicans, Target, Twitter, Tesla, Disney Locations: New York, Florida, Sterling , Virginia, Central Florida
(Photo by Leah MILLIS / POOL / AFP) (Photo by LEAH MILLIS/POOL/AFP via Getty Images)China-linked hackers breached the email account of U.S. The hackers also accessed the email account of Daniel Kritenbrink, the assistant Secretary of State for East Asia, who recently travelled with Secretary of State Antony Blinken to China, said NBC, citing two U.S. officials familiar with the matter. CNBC reached out to China's Foreign Ministry for comment but has yet to hear back. The beach was limited to the diplomats' unclassified email accounts, NBC said adding that Secretary of Commerce Gina Raimondo's email account was also accessed in the breach, as previously reported. The news, first reported by the Wall Street Journal, further fuels the fallout for the U.S. of the alleged Chinese hack first revealed last week.
Persons: Antony Blinken, Central Foreign Affairs Commission Wang Yi, Leah MILLIS, LEAH MILLIS, China Nicholas Burns, Daniel Kritenbrink, Commerce Gina Raimondo's Organizations: Central Foreign Affairs Commission, Getty Images, NBC News, State, NBC, CNBC, China's Foreign, Commerce, Wall Street Journal, U.S Locations: Diaoyutai, Beijing, China, East Asia
July 21 (Reuters) - Chinese hacking teams have been blamed by Western intelligence agencies and cybersecurity groups for digital intrusion campaigns across the world, targeting everything from government and military organisations to corporations and media groups. The Chinese authorities said it was not aware of such hacking and described the accusations as baseless. Palo Alto Networks, a U.S. cybersecurity firm, said its research showed BackdoorDiplomacy had links to the Chinese state and was part of the APT15 hacking group. The Chinese authorities have described such reports as "groundless accusations." APT 27Western intelligence agencies and cybersecurity researchers say Chinese hacking team APT 27 is sponsored by the state and has launched multiple attacks on Western and Taiwanese government agencies.
Persons: Gina Raimondo, China Nicholas Burns, Daniel Kritenbrink, BackdoorDiplomacy, TeamT5, Nancy Pelosi, Pelosi, Mandiant, Fanny Potkin, John Geddie, Jamie Freed Organizations: Microsoft, . Commerce, Wall, Storm, Reuters, Alto Networks, APT, U.S Department Justice, U.S, Thomson Locations: China, Beijing, U.S, East Asia, Washington, Western, Taiwan, Japan, South Korea, United States, Hong Kong
It's not just Barbie — lots of big brands are getting serious about making Hollywood-style entertainment. Insider identified 13 new and established players making the biggest moves in the space. "Barbie" may be the movie of the summer, but lots of other big brands are getting serious about making Hollywood-style entertainment. Neutrogena: Neutrogena Studios launched in 2021 and is J&J Consumer's first brand-funded content studio to make feature documentaries and scripted shorts. PepsiCo: PepsiCo's Content Studio is led by veteran PepsiCo marketer Lou Arbetter.
Persons: It's, Ron Howard, Brian Grazer's, Oscar, Michael Sugar, Brian Newman, REI, Michael Sugar's, Jae Goodman, Lauren Denowitz, Coke, Brian Grazer, Ron Howard's, Selman Careaga, John Deere, Mara Downing, Al Roker, Jill Wilfert, Ryan Gosling, Margot Robbie, Barbie, Ken, Jaap Buitendijk, Robbie Brenner, J.J, Abrams, Lena Dunham, Barney, Daniel Kaluuya, J, Sebastian Garcia, Laurie Hernandez, Matt Damon, Ben Affleck's, Entertainment —, Justin Biskin —, Howard, Lou Arbetter, Max, Robert Rodriguez, Nadia Hallgre, Stanley Nelson, Arbetter, Procter, Kimberly Doebereiner, Paolo Mattola, Kyra Sedgwick, Watiti, Saint Laurent, Anthony Vaccarello, Saint, Pedro Almodóvar, Ethan Hawke, Pedro Pascal, it's, Paolo Sorrentino, David Cronenberg, Kelly Mullen, Bryce Dallas Howard, Lena Waithe, WePresent, Holly Fraser, Moses Sumney, Solange Knowles, Riz Ahmed, Aneil, Fraser Organizations: Hollywood, Procter, Gamble, Companies, Brands, Unilever, InBev, Waffle Iron Entertainment, draftLine Entertainment, Netflix, Coca Cola, Entertainment, Global, Deere, Warner Bros, Warner Brothers, Universal Studios, Mattel, Neutrogena Studios, Studio, Kerry, Seattle Film, Ghetto Film, HBO Nike, Nike, Waffle, Apple, HBO, PepsiCo, Pepsi Super, Showtime, Pepsi, G Studios, Imagine, Amazon's, Hulu, Paramount, Blue Fox Entertainment, Saint Laurent Productions, Unilever Entertainment, Imagine Entertainment, Monotype Locations: Hollywood, Kerry Washington, American, Cannes, Britain
The Swiss are proud of their cheese, and most of the cheese they eat are local varieties like Gruyère, Emmental and other hard cheeses from milk from happy cows that are famous all over the world. The Swiss also eat a lot of cheese: more than 50 pounds per person per year, versus about 40 pounds per person in the United States. “Cheese is part of our identity,” said Daniel Koller, a director at Swissmilk, Switzerland’s dairy association. Switzerland now exports about 40 percent of the cheese it produces, per industry estimates. But in each of the first five months of this year, Switzerland imported more cheese by weight than it sold abroad, according to customs data.
Persons: , Daniel Koller, Koller’s Organizations: European Union Locations: Swiss, United States, Switzerland
July 20 (Reuters) - Hackers linked to Beijing accessed the email account of the U.S. ambassador to China, Nicholas Burns, in an attack that is believed to have compromised at least hundreds of thousands of individual U.S. government emails, Wall Street Journal reported on Thursday. Daniel Kritenbrink, the assistant secretary of state for East Asia, was also hacked in the cyber-espionage attack, the report said citing people familiar with the matter. Reporting by Shubhendu Deshmukh in BengaluruOur Standards: The Thomson Reuters Trust Principles.
Persons: Nicholas Burns, Daniel Kritenbrink, Shubhendu Deshmukh Organizations: Wall Street, Thomson Locations: Beijing, U.S, China, East Asia, Bengaluru
CNN —China-based hackers breached the email account of US Ambassador to China Nicholas Burns as part of a recent targeted intelligence-gathering campaign, three US officials familiar with the matter told CNN. Blinken raised the issue of the hacking incident in a meeting with top Chinese diplomat Wang Yi last week, a senior State Department official said. A State Department analyst in mid-June noticed unusual cyber activity on the department’s computer systems and alerted Microsoft to the issue, according to multiple sources. Eric Goldstein, a senior CISA official, told CNN he fielded calls about the hack while on a weekend getaway out of Washington with his children. CISA’s engineers used a simulation lab to test different theories of how the hackers might have gotten into the State Department email accounts, he told CNN.
Persons: China Nicholas Burns, Daniel Kritenbrink, Antony Blinken, Gina Raimondo, Biden, Blinken, Wang Yi, Burns, , ” Blinken, Washington, Eric Goldstein, , Goldstein Organizations: CNN, State, Wall Street, FBI, State Department, Microsoft, Infrastructure Security Agency Locations: China, East Asia, Beijing, Blinken’s, United, Jakarta, Indonesia, Washington
Factbox: Corporate debt woes are on the rise
  + stars: | 2023-07-18 | by ( ) www.reuters.com   time to read: +4 min
Size of debt: 14 billion pounds ($18.33 billion). The firm said earlier in July shareholders would provide 750 million pounds, but warned it would need an extra 2.5 billion pounds between 2025-2030. Size of debt: 6.4 billion euros ($7.19 billion) in net debt. What's at stake: Casino faces 3 billion euros of debt repayments in the next two years, with rating agencies Moody's and Standard & Poor's warning a default is likely. Deadlines to watch: Casino aims to secure an agreement with creditors by July 27.
Persons: Toby Melville, What's, Jean, Charles Naouri, Casino, Daniel Kretinsky, Kretinsky, Chiara Elisei, Dhara, Christina Fincher Organizations: Thames, REUTERS, Water, Casino, SBB, Thomson Locations: London, Britain, LONDON, Sweden, France, England, Czech, Brookfield, Spain, Barcelona
It leaves Kretinsky, who submitted a revised offer over the weekend proposing the equity injection, as the only bidder. The cash injection plan would lead to a 4.7 billion-euro reduction in overall debt, Casino said. Casino is saddled with net debt of 6.4 billion euros and is teetering on the brink of default. The board meeting followed a separate meeting between Casino's creditors and CIRI - France's finance ministry body that helps distressed companies and their creditors draw up restructuring plans. Kretinsky and Ladreit de Lacharriere would control the investment vehicle behind the 1.2 billion-euro equity injection, a source said.
Persons: Daniel Kretinsky, Kretinsky's, Xavier Niel, Jean, Charles Naouri, Kretinsky, Niel, Matthieu Pigasse, Moez, Alexandre Zouari, Casino, Marc Ladreit de, Ladreit, Mathieu Rosemain, Mike Harrison, Rosalba O'Brien Organizations: Casino, 3F, Attestor, French, Monde, Fnac, Metro, Forbes, Thomson Locations: Czech, PARIS, French, Paris, Casino, Britain, France, Germany
Kretinsky has been vying to take control of Casino against the 3F Holding group, led by telecoms entrepreneur Xavier Niel, investment banker Matthieu Pigasse and businessman Moez-Alexandre Zouari. The group is saddled with net debt of 6.4 billion euros ($7.1 billion) and is teetering on the brink of default. "Today, after months of work, 3F has decided to not submit an offer," 3F said in a statement. Along with Marc Ladreit de Lacharrière’s Fimalac, he would inject 1.2 billion euros ($1.35 billion) in equity to take a 53% stake in France's sixth-largest retailer. The bidders would also convert 4.9 billion euros of debt into equity.
Persons: Daniel Kretinsky, Kretinsky, Xavier Niel, Matthieu Pigasse, Moez, Alexandre Zouari, 3F's, Marc Ladreit de, Fimalac, Casino, John Irish, David Holmes, Emelia Organizations: Casino, 3F, Attestor, Financial, Global Commerce, Financial Times, Thomson Locations: Czech, France's, Casino
Cora strengthens Carrefour’s inflation defences
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +2 min
LONDON, July 13 (Reuters Breakingviews) - Carrefour’s (CARR.PA) 1 billion euros acquisition of smaller rival Cora could be seen as a consequence of the French group’s ability to navigate rocketing inflation. It will give the combined company a near 23% share of the fragmented and competitive French market, consolidating Carrefour’s leadership on its home turf. Five years ago, Carrefour and Casino had begun tentative talks for a possible merger that ultimately collapsed. If anything, Cora’s acquisition will make Carrefour a more attractive target. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Cora, Daniel Kretinsky, Xavier Niel ., Pierre Briançon, Aimee Donnellan, Streisand Neto Organizations: Reuters, Carrefour, Casino, Twitter, Thomson Locations: French, France
Blinken to meet China's Wang Yi in Jakarta - State Department
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +2 min
[1/2] China's Director of the Office of the Central Foreign Affairs Commission Wang Yi attends during a trilateral meeting with Indonesian Foreign Minister Retno Marsudi and Russia's Foreign Minister Sergei Lavrov in Jakarta, Indonesia, July 12, 2023. REUTERS/Ajeng Dinar UlfianaJuly 12 (Reuters) - U.S. Secretary of State Antony Blinken will meet top Chinese diplomat Wang Yi on Thursday as officials gather in Indonesia for ASEAN meetings, the State Department said in announcing the latest in series of interactions between the rival superpowers. Wang is representing China at the Jakarta meetings involving the Association of Southeast Asian Nations (ASEAN) and partner countries after Beijing said Foreign Minister Qin Gang would not attend due to health reasons. Blinken met Qin and Wang in Beijing last month, marking the first visit to China by a U.S. secretary of state in five years. Wang, who is the foreign policy chief for the Chinese Communist Party, ranks above Qin, who as the foreign minister is the government's foreign policy chief.
Persons: Central Foreign Affairs Commission Wang Yi, Retno Marsudi, Sergei Lavrov, Antony Blinken, Wang Yi, Wang, Qin Gang, Blinken, Qin, Janet Yellen, John Kerry, Joe Biden, Xi Jinping, Daniel Kritenbrink, David Brunnstrom, Simon Lewis, Dan Whitcomb, Michael Perry Organizations: Central Foreign Affairs Commission, Indonesian Foreign, Russia's, REUTERS, ASEAN, State Department, Association of Southeast Asian Nations, Foreign, U.S, Treasury, Chinese Communist Party, Pentagon, NATO, senior State Department, East, Thomson Locations: Jakarta, Indonesia, China, Beijing, United States, Asia, U.S, Lithuanian, Vilnius, Pacific, East Asia
Blinken to meet China's Wang Yi in Jakarta -State Department
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +2 min
[1/2] China's Director of the Office of the Central Foreign Affairs Commission Wang Yi attends during a trilateral meeting with Indonesian Foreign Minister Retno Marsudi and Russia's Foreign Minister Sergei Lavrov in Jakarta, Indonesia, July 12, 2023. REUTERS/Ajeng Dinar UlfianaJuly 12 (Reuters) - U.S. Secretary of State Antony Blinken will meet top Chinese diplomat Wang Yi on Thursday as officials gather in Indonesia for ASEAN meetings, the State Department said in announcing the latest in series of interactions between the rival superpowers. Wang is representing China at the Jakarta meetings involving the Association of Southeast Asian Nations (ASEAN) and partner countries after Beijing said Foreign Minister Qin Gang would not attend due to health reasons. Blinken met Qin and Wang in Beijing last month, marking the first visit to China by a U.S. secretary of state in five years. Wang, who is the foreign policy chief for the Chinese Communist Party, ranks above Qin, who as the foreign minister is the government's foreign policy chief.
Persons: Central Foreign Affairs Commission Wang Yi, Retno Marsudi, Sergei Lavrov, Antony Blinken, Wang Yi, Wang, Qin Gang, Blinken, Qin, Janet Yellen, John Kerry, Joe Biden, Xi Jinping, Daniel Kritenbrink, David Brunnstrom, Simon Lewis, Dan Whitcomb, Michael Perry Organizations: Central Foreign Affairs Commission, Indonesian Foreign, Russia's, REUTERS, ASEAN, State Department, Association of Southeast Asian Nations, Foreign, U.S, Treasury, Chinese Communist Party, Pentagon, NATO, senior State Department, East, Thomson Locations: Jakarta, Indonesia, China, Beijing, United States, Asia, U.S, Lithuanian, Vilnius, Pacific, East Asia
Some 831,000 Rivian options contracts traded on Monday, or two times its average daily volume. Much of the options trading has consisted of investors buying "super short-dated calls," said Daniel Kirsch, head of options at Piper Sandler, adding that the options activity had helped drive Rivian's shares higher. Large purchases of out-of-the-money call options - contracts that are not profitable but stand to gain in value as the stock climbs - can sometimes give an additional lift to a stock's price. The phenomenon has occurred with shares of various companies popular with options buyers over the last few years, from AMC to Tesla. Options on another EV name, Nio Inc , were also actively traded on Monday, making it the 10th most heavily traded individual company in the options market.
Persons: Daniel Kirsch, Piper Sandler, Kirsch, Rivian, Saqib Iqbal Ahmed, Ira Iosebashvili, Will Dunham Organizations: YORK, Rivian Automotive, AMC, Tesla, Apple Inc, Inc, Thomson Locations: U.S
PARIS, July 9 (Reuters) - Czech billionaire Daniel Kretinsky and his partners are prepared to hire former Metro (B4B.DE) and Lactalis executive Philippe Palazzi as the new boss of French supermarket chain Casino (CASP.PA), should their refinancing offer for the debt-laden company succeed, Les Echos reported on Sunday. Kretinsky could not immediately be reached for comment outside working hours. Kretinsky's offer is valid until Monday. It faces a rivalling offer led by telecoms maverick Xavier Niel, investment banker Matthieu Pigasse and businessman Moez-Alexandre Zouari, which Casino said had also been extended to the same day. Reporting by Tassilo Hummel; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.
Persons: Daniel Kretinsky, Philippe Palazzi, Les Echos, Kretinsky, Palazzi, Xavier Niel, Matthieu Pigasse, Moez, Alexandre Zouari, Tassilo Hummel, Lisa Shumaker Organizations: Metro, LinkedIn, Thomson Locations: Czech
He earmarked Margot Robbie to play Barbie, and has driven the group's push to exploit its brands. Ryan Gosling as Ken and Margot Robbie as Barbie in "Barbie." Warner Bros.Self-deprecationAccording to Bloomberg, Mattel gave Warner Bros. and Gerwig huge creative license on the movie – including how Mattel and its bigwigs would be portrayed. Kreiz, with his chiseled jaw, pearly white teeth and broader good looks, might look more like Ken, played by Ryan Gosling, than the ghoulish CEO played by funnyman Will Ferrell. Ferrell is listed only as "Mattel CEO" in the film's credits, adding an element of ambiguity.
Persons: Barbie, Margot Robbie, Will Ferrell, Ryan Gosling rollerblading, Ken, Kreiz, Barbie's, He's, Greta Gerwig's, Robbie, Mattel, Greta Gerwig, Ryan Gosling, funnyman Will Ferrell, Ferrell, Oscar, Daniel Kaluuya, Barney, Lena Dunham, helming, Lily Collins, It's, Polly Pocket, David Zalubowski, Kreiz – Organizations: Mattel, Bloomberg, Service, Maker Studios, Disney, Endemol Group, Brother, Fox Kids Europe, London's, Warner Bros, MGM, Arch, Hasbro Locations: Wall, Silicon
Bedbugs: What travelers need to know this summer
  + stars: | 2023-07-06 | by ( Forrest Brown | ) edition.cnn.com   time to read: +11 min
Potter suggests that before you even unpack, at least do a cursory bed check. If there are two beds in a room, Potter does not put his suitcase on the other bed. These are the signs of bedbug infestationsThis is what a serious bed bug infestation looks like on a mattress. Bed bug eggs are the size of a pinhead and pearl-white. Bedbugs are more than a bed and motel problemIn a hotel room, place your luggage on a rack, as you see above.
Persons: Michelle Quinn, bedbugs, , Jeff March, Quinn, , Michael F, Potter, I’d, Andrew Francis Wallace, Dmitry Bezrukov, Daniel K, it’s, you’ve, Joel Carillet, ” Potter, she’s, ” Quinn Organizations: CNN, Google, Alamy, Entomology, University of Kentucky, Toronto Star, American, & Lodging Association, Environmental Protection Agency, Inouye International Airport, Hawaii Department of Transportation, CNN Travel, Medical, Centers for Disease Control, bedbugs, Cleveland Clinic, Washington , D.C Locations: Indiana, sofas, Honolulu , Hawaii, Washington ,
Out-of-sync U.S. stocks hide market risks
  + stars: | 2023-07-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com   time to read: +5 min
Investors expect stocks to move increasingly out of sync as shown by the Cboe 3-Month Implied Correlation Index (.COR3M), which measures the 3-month expected average correlation across the top 50 value-weighted S&P 500 stocks. The last time 3-month implied correlation got this low was in early 2018, just before the February 2018 urge in market volatility dubbed 'Volmageddon.' Much of today's low stock market correlation has to do with the gulf in performance between a handful of mega caps driving the benchmark index higher and the rest of the market. "You have this view in the market that this is a stock picker's market because correlation is low," EAB Investment Group's Holzer said. "Because correlations are so low, index options have gotten incredibly cheap," said Daniel Kirsch, head of options at Piper Sandler said.
Persons: Dow, Arnim Holzer, Group's Holzer, Jack Ablin, Ablin, Kris Sidial, Sidial, Daniel Kirsch, Piper Sandler, Saqib Iqbal Ahmed, Megan Davies, Nick Zieminski Organizations: YORK, Dow Jones, EAB Investment, UBS, U.S . Federal, Cresset, Ambrus, Thomson
Casino extends creditors’ losing streak
  + stars: | 2023-06-29 | by ( ) www.reuters.com   time to read: +2 min
Casino had previously hinted that it was seeking to restructure the unsecured portion of its debt, worth around 3.6 billion euros, implying that the remaining 4 billion euros of secured debt would remain intact. That implies borrowings of less than 2.7 billion euros, based on analysts’ forecasts compiled by Refinitiv. As a result, between 1 and 1.5 billion euros of the secured debt may also be converted into equity. Casino reckons it needs at least 900 million euros of new money to finance the company’s business plan in the next few years. The winner, who will be the group’s largest shareholder, will then determine whether they can end Casino’s losing streak.
Persons: Daniel Kretinsky, Xavier Niel, Pierre Briancon, crouch, Eli Lilly, Peter Thal Larsen, Streisand Neto Organizations: Reuters, Casino, Refinitiv, Twitter, Thomson Locations: Czech
Christine King Farris, the last living sibling of the Rev. Dr. Martin Luther King Jr., died on Thursday. Her death was announced by her niece, the Rev. Ms. Farris, Dr. King’s older sister, supported him politically and personally. She joined him in 1965 for the March for Voting Rights in Alabama and in 1966 for the March Against Fear in Mississippi.
Persons: Christine King Farris, Martin Luther King Jr, Bernice King, Farris, Dr, Dr . King, Alfred Daniel King, Alberta King Organizations: Rights Locations: Alabama, Mississippi, Alberta
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