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☆ Morning Bid: Bond yields recoil on disinflation buzz
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanA volte face in Treasury yields has improved investors' mood considerably this week as excitement about U.S. disinflation builds despite conflicting signals from around the world. After bumpy start to the third quarter, stocks and bonds rallied together on Monday - with both two- and 10-year Treasury yields recoiling sharply back below 5% and 4% thresholds respectively. Spurred by more signs of ebbing U.S. inflation ahead of Wednesday's critical June consumer price report, Wall Street stocks also recovered ground on Monday. A New York Fed survey showed on Monday that household inflation expectations for the year ahead fell to 3.8% last month, the lowest in more than two years. But if the U.S. inflation picture is looking more optimistic, it's much harder to read around the world.

Persons: Mike Dolan, Russell, Michael Barr, John Williams, Joe Biden, Jane Merriman Organizations: Wall, Federal, Japan's, New York Fed, Fed, Bank of England, Treasuries, York Federal, NATO, Treasury, Reuters Graphics Reuters, Thomson, Reuters Locations: U.S, ., China, Britain, Hong Kong, Vilnius

☆ Exclusive: Video-sharing website BitChute seeks to raise $10 million in new funding round
▼ + stars: | 2023-07-03 | by ( Helen Coster | ) www.reuters.com time to read: +3 min

"I’m not really raising the money just because we need the money," Wernick said in an interview. Wernick said BitChute was pursuing a combination of high net-worth individuals and venture capital funds. He has an equity stake in BitChute and is also an investor in Parler, Gab, Airbnb (ABNB.O) and Uber (UBER.N). Its investor presentation said BitChute had 218 million unique visitors in 2022, down 15.8% from 2021, with a projection of 247 million unique visitors this year. Their longer-term goal is to “decentralize” BitChute, so that it is blockchain-based and users can decide whether to have content moderation.

Persons: Jeffrey Wernick, I’m, Wernick, BitChute, Patrick Dai, Matthew Branton, cofounders Ray Vahey, Rich Jones, ’, Helen Coster, Krystal Hu, Jane Merriman Organizations: YORK, Reuters, Inc, YouTube, Thomson Locations: BitChute, Parler, New York

☆ UAE to set up investment ministry, PM says
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

DUBAI, July 3 (Reuters) - The United Arab Emirates (UAE) will set up a new federal ministry of investment to develop the Gulf state's investment strategy both globally and domestically as it contends with growing economic competition from neighbours. The Gulf states, largely dependent on hydrocarbons for revenue, all have plans underway to diversify their economies and sources of income. The ministry's aims would include stimulating the investment environment in the UAE and to make the UAE's legislation and procedures more competitive to attract global investment, Sheikh Mohammed said. The UAE will also set up a Financial Stability Council to monitor risks, and deal with financial crises to further its objectives of becoming a major global financial centre. Foreign direct investment into Saudi Arabia was about 30 billion riyals ($8 billion), based on data from the Saudi investment ministry.

Persons: Sheikh Mohammed bin Rashid al, Mohammed Hassan Al Suwaidi, Sheikh Mohammed said, Sheikh Mohammed, Rachna Uppal, Nayera Abdallah, David Goodman, Jane Merriman Organizations: United Arab Emirates, Twitter, Thomson Locations: DUBAI, UAE, Maktoum, Dubai, Saudi Arabia, Saudi

By 1156 GMT, the rouble was 1.8% weaker against the dollar at 89.15 after earlier hitting 89.3275, its weakest point since March 29, 2022. It lost 1.8% to trade at 96.74 versus the euro , also a 15-month low. It shed 1.4% against the yuan to 12.23 <CNYRUBTOM=MCX>, a more than 14-month low. The rouble lost a key support factor on Wednesday as a month-end tax period that typically sees exporters convert foreign currency revenues to meet local liabilities passed. Brent crude oil , a global benchmark for Russia's main export, was up 0.1% at $74.41 a barrel.

Persons: C.bank, Yevgeny Prigozhin's, Vladimir Putin's, Alexei Zabotkin, Zabotkin, Alexander Marrow, Jamie Freed, Robert Birsel, Jane Merriman, Mark Heinrich Our Organizations: Alor Broker, Bank of Russia, Brent, Gazprom, Thomson Locations: Moscow, Russian, Alor, Russia, Ukraine

☆ Sodexo raises outlook for voucher business a second time
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

June 30 (Reuters) - French catering and food services group Sodexo (EXHO.PA) on Friday raised the full-year outlook of its voucher business for the second time this year as it benefits from companies' attempts to get employees back to the office. Employers have also turned to companies like Sodexo to offer vouchers to staff to help them cope with the rising cost of living. Sodexo last raised its forecast for the voucher business in April, targeting organic growth close to 20% and an operating margin near 32%. Sodexo also tweaked the group's full-year outlook, seeing an underlying operating margin of 5.5%, versus "close to" 5.5% previously. Total group revenue was 6.03 billion euros ($6.55 billion) in the third quarter, slightly ahead of the 6.02 billion euros expected by analysts polled by the company.

Persons: Sophie Bellon, Bellon, Sodexo, Diana Mandiá, Milla Nissi, Jane Merriman Organizations: Employers, Thomson Locations: Gdansk

☆ Deutsche Bank set to finalise Postbank IT integration project this weekend
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, June 30 (Reuters) - Some Deutsche Bank (DBKGn.DE) customers will not have access to all services this weekend as the bank completes the merger of its IT platforms with Postbank customers, a project that will save hundreds of millions of euros in the years to come. In the fourth and final wave of the integration process this weekend, Deutsche Bank will transfer 4 million contracts of 2 million Postbank customers to a common IT system, a Deutsche Bank spokesperson said. It will mean that customers will not have all access to all services over the weekend, which the bank has communicated on Twitter and elsewhere. Deutsche Bank is currently in the process of cutting costs and reducing headcount, and the Postbank technology integration, dubbed internally as project "Unity", will eventually bring savings of 300 million euros ($325.29 million) a year by 2025, the bank has said. After completion, Deutsche will have 19 million customers' contracts from Postbank on a single platform, a milestone for CEO Sewing as he continues to turn around the bank after years of losses and scandals.

Persons: Deutsche, Tom Sims, Miranda Murray, Jane Merriman Organizations: Deutsche Bank, Twitter, Sewing, Deutsche, Postbank, Thomson Locations: FRANKFURT

☆ Elton John enthralls Glastonbury in final UK show
▼ + stars: | 2023-06-25 | by ( Sachin Ravikumar | Thomson Reuters | Sachin Ravikumar Is A Correspondent For Reuters In London Covering General News Across The Uk. Over Nine Years At Reuters | ) www.reuters.com time to read: +2 min

GLASTONBURY, England, June 25 (Reuters) - Elton John enthralled a massive Glastonbury crowd on Sunday night in possibly his last show in Britain, delighting loyal fans but disappointing others who had hoped for star guest appearances. I never thought I'd ever play Glastonbury. And here I am," John, who wore a glittery golden jacket and rose-tinted glasses, said during the start of his first appearance at Worthy Farm. John, 76, is nearing the end of his final tour, of which Glastonbury was the last British show. Reporting by Sachin Ravikumar; Editing by Jane Merriman and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Elton John, delighting, Lewis Capaldi, I'd, John, Jacob Lusk, Stephen Sanchez, Rina Sawayama, Brandon Flowers, Paul McCartney, Bruce Springsteen, Dave Grohl, Elton, Bex Whiting, you've, It's, I've, Sachin Ravikumar, Jane Merriman, Stephen Coates Organizations: Glastonbury, Foo Fighters, Thomson Locations: GLASTONBURY, England, Britain, British, Great Britain, Glastonbury

☆ Elton John to thrill sun-drenched Glastonbury in final UK show
▼ + stars: | 2023-06-25 | by ( Sachin Ravikumar | Thomson Reuters | Sachin Ravikumar Is A Correspondent For Reuters In London Covering General News Across The Uk. Over Nine Years At Reuters | ) www.reuters.com time to read: +2 min

GLASTONBURY, England, June 25 (Reuters) - Elton John is set to close Glastonbury's Pyramid stage on Sunday night with a "completely unique" set for his last ever UK show that will also feature four surprise guests. "What's brilliant about Elton is it is like something for everyone, all ages," the 43-year-old who works in marketing said. "I've got a sparkly jacket in my bag ready to go, so I'll be busting that out for Elton." Glastonbury organiser Emily Eavis, whose father Michael started the festival on Worthy Farm in 1970, said the show would be an amazing send-off for John. "He's been carving out a set that's going to be completely unique to Glastonbury," Eavis told the festival's Glastonbury Free Press paper.

Persons: Elton John, Lewis Capaldi, David, Britney Spears, Yusuf, Cat Stevens, Blondie, Lil Nas X, John, Fan Emily Brett, London, Elton, I've, Glastonbury, Emily Eavis, Michael, Eavis, Sachin Ravikumar, Jane Merriman Organizations: Foo Fighters, Sky News, Glastonbury, Dua, Glastonbury Free Press, Thomson Locations: GLASTONBURY, England, British, Glastonbury

☆ Zelenskiy discusses Russian turmoil with Biden, Trudeau, Duda
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +3 min

The world must put pressure on Russia until international order is restored," Zelenskiy said after a phone call with U.S. President Joe Biden. According to the White House readout, the two leaders "discussed Ukraine's ongoing counteroffensive, and President Biden reaffirmed unwavering U.S. Oleksii Reznikov, Ukraine's defence minister, said he and U.S. Defence Secretary Lloyd Austin discussed Ukraine's counteroffensive and next steps to strengthen the forces. But the gains have been incremental so far, with Zelenskiy saying recently the counteroffensive has been "slower than desired." The Ukrainian leader made similar comments in a statement announcing a phone call with Polish President Andrzej Duda.

Persons: Volodymyr Zelenskiy, Vladimir Putin, Ukraine's, Russia's Wagner, Yevgeny Prigozhin, Zelenskiy, Joe Biden, Biden, Lloyd Austin, Reznikov, Serhiy Cherevatyi, Wagner, Justin Trudeau, Andrzej Duda, Tom Balmforth, Pavel Polityuk, Lidia Kelly, Jane Merriman, Lisa Shumaker, Diane Craft Organizations: U.S, . Defence, Twitter, NATO, Canadian, Russia, Thomson Locations: Ukraine, Russia, Moscow, Bakhmut, Vilnius, Russian, Ukrainian

☆ Russian bourse, banks to operate as normal on Monday, says central bank
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Russian state flag flies over the Central Bank headquarters in Moscow, Russia May 7, 2023. REUTERS/Shamil Zhumatov/File PhotoJune 25 (Reuters) - The Moscow stock exchange, banks and financial institutions are expected to operate as usual on Monday, Russia's central bank said on Sunday, despite Moscow's mayor having declared it a non-working day when mercenary leader Yevgeny Prigozhin was leading his Wagner forces towards Moscow. "On June 26, trading and settlement on all Moscow Exchange markets will be conducted as usual, including all trading periods and instruments," Moscow Exchange (MOEX.MM) said in a statement. SPB Exchange, Russia's second-largest bourse, said it would also be operating as normal. The central bank said banks should ensure the continuous and smooth operation of Russia's financial markets.

Persons: Shamil Zhumatov, Yevgeny Prigozhin, Wagner, Sergei Sobyanin, Prigozhin, Moscow's, Alexander Marrow, Maxim, David Goodman, Jane Merriman Organizations: Central Bank, REUTERS, Moscow, Moscow Exchange, SPB, bourse, Thomson Locations: Russian, Moscow, Russia, Russia's, Belarus

☆ Mercenaries return to bases after challenge to Putin's authority
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +7 min

Ending their short-lived mutiny, fighters of the Wagner group began heading back to their bases late on Saturday in return for guarantees for their safety. Their commander, Yevgeny Prigozhin, will move to Belarus under the deal mediated by Belarusian President Alexander Lukashenko. Peskov said Lukashenko had offered to mediate, with Putin's approval, because he had known Prigozhin personally for around 20 years. She said the swift ending of the turmoil indicated that Putin's rule would not be undermined by it alone. Russia's ministry of digital affairs recommended that IT, telecoms and media companies give employees the day off on Monday.

Persons: Belarus Wagner, Vladimir Putin's, Wagner, Yevgeny Prigozhin, Alexander Lukashenko, Antony Blinken, Putin, Lukashenko, Prigozhin, Volodymyr Zelenskiy, Joe Biden, Justin Trudeau, Biden, Trudeau, Zelenskiy, State Anthony Blinken, NBC's, Anton Vaganov, Dmitry, Oleg, Dmitry Peskov, Peskov, Sergei Shoigu, Valery Gerasimov, Marina Miron, Antonio Tajani, Messaggero, Brian Taylor, Russia's, Gareth Jones, Philippa Fletcher, Frank Jack Daniel, Jane Merriman, Chris Reese Organizations: Kremlin, U.S, Russia's Security, Canadian, Twitter, State, Press, Rostov, Reuters, Sunday, Reuters Graphics Reuters Graphics, Defence Ministry, King's College London's Defense Studies Department, Syracuse University, Thomson Locations: Belarus, Rostov, ROSTOV, VORONEZH, Russia, Russian, Moscow, Ukraine, China, Bolshevik, Africa

☆ Morning Bid: Business brakes in June swoon, dollar jumps
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanJust as world stock prices raced ahead this month, broader business activity appeared to be stalling again. Equivalent Japanese and British surveys also showed sub-forecast growth and markets nervously await the U.S. version later on Friday. The dollar was the big market mover - surging into the weekend against Asia and European currencies. Inflation is falling faster, real wage growth is back positive, the jobs market is loosening slightly and housing is rebounding somewhat. So even as stock prices have come off the year's highs, the VIX (.VIX) implied volatility gauge continues to fall away - closing below 13 on Thursday for the first time since January 2020.

Persons: Mike Dolan, Jerome Powell, Wall, Powell's, Raphael Bostic, James Bullard, Loretta Mester, Jane Merriman Organizations: Asia, Federal Reserve, Bank of England, Swiss National Bank, Brent, Japan's, Swiss, Atlanta Federal Reserve, St Louis Fed, Cleveland Fed, Reuters Graphics Reuters Graphics, Thomson, Reuters Locations: U.S, Europe, Shanghai, Asia, United States

LONDON, June 23 (Reuters) - Newmont (NEM.N) has declared force majeure on deliveries of some metal products from its Peñasquito mine in Mexico, the U.S.-listed miner told Reuters, citing strike action as a constraint on output. Peñasquito is a major producer of zinc and lead, as well as gold. In a February outlook, Newmont said Peñasquito was expected to produce between 190,510 and 208,654420 metric tons of zinc this year and 77,111 and 86,183 tons of lead. Companies declare force majeure when unexpected circumstances prevent them from meeting contract obligations. "Due to interruptions in production caused by the union strike at Newmont's Peñasquito mine in Mexico, force majeure has been declared with certain customers for some of the mine's products," Newmont said in an emailed statement.

Persons: Newmont, Peñasquito, majeure, Boliden, Pratima Desai, Clara Denina, Kirsten Donovan, Jane Merriman Organizations: Companies, National Union of Mine, Metal Workers, London Metal Exchange, Thomson Locations: Mexico, U.S, Mexican Republic, Ireland, Sweden

FRANKFURT/BERLIN, June 23 (Reuters) - Siemens Energy (ENR1n.DE) warned on Friday that the impact of quality problems at its Siemens Gamesa wind turbine business would be felt for years and were not yet quantifiable, sending its shares tumbling by nearly a third. Finance chief Maria Ferraro earlier told analysts that the majority of the hit would be over the next five years. Issues at Siemens Gamesa have been a drag on the parent for a long time, prompting Siemens Energy to take full control of the business after only partially owning it for several years. The discovery of faulty components at Siemens Gamesa in January had already caused a charge of nearly half a billion euros. At the same time, he said he did not believe that the full takeover of Siemens Gamesa had been a mistake.

Persons: Christian Bruch, Maria Ferraro, us, JP Morgan, Jochen Eickholt, Bruch, Spain's Gamesa, Siemens Gamesa, Kirsten Donovan, Jason Neely, Jane Merriman Organizations: Siemens Energy, Siemens, Finance, JP, Siemens Gamesa, Thomson Locations: FRANKFURT, BERLIN

☆ Irish 'bad bank' NAMA eyes boost to 4.5 billion euros surplus
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

Set up in 2009, the National Asset Management Agency (NAMA) used 32 billion euros ($35.10 billion) of debt to rid banks of 74 billion euros worth of risky property loans following a banking collapse. The Irish government also had to pour tens of billions of euros more into the country's ailing banks, some of which still collapsed. NAMA had raised its forecast surplus almost every year since 2015 following a surge in demand for Irish real estate. It had a residual portfolio worth 500 million euros at the end of 2022, its annual report published on Thursday said. McDonagh added that 400 apartments from the 1,800 units NAMA had funding approved a year ago fell through after demand from investors in the private rented sector "almost disappeared" in the rising interest rate environment.

Persons: NAMA, Brendan McDonagh, McDonagh, Padraic Halpin, Jane Merriman Organizations: DUBLIN, National Asset Management Agency, Thomson Locations: Ireland

There were 71 cases of the disease - which generally causes fever and muscle pain but can be more severe and even sometimes fatal - last year, mainly in France. The health agency warned at a press conference on Thursday there is an increasing risk of a number of mosquito-borne diseases in the European region, including dengue, zika, chikungunya and West Nile virus, linked to the changing climate and the spread of mosquitoes carrying the viruses. “If this continues, we can expect to see more cases and possibly deaths from diseases such as dengue, chikungunya and West Nile fever," said Andrea Ammon, ECDC director. Aedes aegypti, which spreads diseases including dengue, yellow fever and chikungunya, became established in Cyprus last year and could make further inroads, it said. While the rates of some mosquito-borne diseases in Europe have not risen dramatically in recent years or even fallen slightly, such as malaria and zika, others have seen a "striking" rise, particularly dengue, the ECDC said.

Persons: Andrea Ammon, Aedes, Jennifer Rigby, Jane Merriman Organizations: European Centre for Disease Prevention, World Health Organization, El, Thomson Locations: Europe, France, chikungunya, West, Cyprus, Peru, El Nino

☆ Credit Agricole's CACEIS registers in France as crypto custody services provider
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 22 (Reuters) - CACEIS, the asset servicing business owned by Credit Agricole (CAGR.PA) and Santander (SAN.MC), has registered with France's markets regulator AMF to provide custody services for digital assets, such as cryptocurrencies. The company registered as a digital asset service provider (DASP) on June 20, according AMF's website, adding a major traditional financial services group to the growing number of crypto companies registered by the French watchdog. France has been supportive of the nascent industry and was the first major European country to grant registration to the world's biggest cryptocurrency exchange, Binance. CACEIS had 4.1 trillion euros ($4.51 trillion) in assets under custody at end of last year, according to its website. Credit Agricole SA is its majority owner with a 69.5% stake, while Santander holds a 30.5% of the group.

Persons: Mathieu Rosemain, Jane Merriman Organizations: Credit Agricole, Santander, AMF, Binance, Societe Generale, AXA, CACEIS, Credit Agricole SA, Thomson Locations: France

The two pilots, however, would allow extensive information sharing between banks on large-scale financial crime, expand public-private data sharing initiatives and set up a similar platform to Britain's national fraud database for serious economic crime. The pilots could be formally launched by October when Britain's economic crime and corporate transparency bill, currently on its way through parliament, is expected to become law. This legislation aims to protect regulated firms from confidentiality rules if they share information to tackle economic crime, giving them the leeway to ramp up data sharing. One financial crime investigations lawyer, who declined to be named because of client sensitivities, said that information-sharing needed appropriate safeguards. The NCA told Reuters it was discussing the data sharing pilot with a number of banks to try and identify "actionable intelligence".

Persons: Dado Ruvic, Banks, Simon Fell, Iain Withers, Kirstin Ridley, Sinead Cruise, Jane Merriman Organizations: U.S, REUTERS, Lloyds, NatWest, Reuters, HSBC, Barclays, Crime Agency, UK Finance, Home Office, NCA, Thomson Locations: Russia, Britain, Ukraine

☆ South African bank FirstRand sees bad loan ratio below target range
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, June 21 (Reuters) - FirstRand (FSRJ.J), South Africa's biggest bank by market value, said on Wednesday its non-performing loan ratio would stay below its target range as it maintains its conservative lending stance. South Africa has some of the continent's biggest banks, which have built up a reputation for conservative lending policies. Africa's biggest lender by assets Standard Bank (SBKJ.J) and major local lender Nedbank (NEDJ.J) have said that their bad loans would rise this year. But FirstRand said its credit loss ratio (CLR) for the year would remain below its stated range. Its return on equity - a measure of bank profitability - is expected to remain at the upper end of the stated range of 18% to 22%, FirstRand said.

Persons: FirstRand, Promit Mukherjee, Jane Merriman Organizations: Standard Bank, Thomson Locations: JOHANNESBURG, South Africa

☆ Morning Bid: ECB day to follow a hawkish Fed
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

A day after the Federal Reserve took markets by surprise with a hawkish message, it's the European Central Bank's turn in the hot seat. While the Fed was widely expected to, and did, keep rates unchanged, the U.S. central bank left the door open to more increases ahead. And so to the ECB, which is all but certain to raise borrowing costs to their highest level in 22 years on Thursday. Even after the more hawkish message from the Fed on Wednesday, market pricing for the rate trajectory has not changed too much. Money markets price in roughly one more 25 basis point rate increase from the Fed, while the ECB may struggle to sound hawkish while inflation in the bloc is coming down.

Persons: BNY Mellon, It's, Dhara Ranasinghe, Jane Merriman Organizations: Federal Reserve, BNY, ECB, Fed, ING, Thomson, Reuters Locations: U.S, Dhara, United States, Europe

☆ Stellantis Ventures spends first 100 million euros on green drive
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

The world's third largest carmaker by sales, last year launched Stellantis Ventures with an initial 300 million euros to invest in start-ups developing technologies that will further its 2030 goals, including those concerning the transition to lower-emission mobility. "We are using the strength of Stellantis Ventures to connect with companies that are developing cutting-edge technology that we believe can transform the in-cabin experience and improve the mobility sector," Stellantis technology chief Ned Curic said in a statement. Stellantis Ventures' global head Adam Bazih said the arm had so far used roughly a third of its funding to support 10 start-up companies and one mobility venture fund. They include lithium-sulfur EV batteries start-up Lyten, which Stellantis separately announced last month. Stellantis did not disclose the name of the U.S.-based mobility venture fund it is helping to fund due to a pending regulatory process, Bazih said.

Persons: Ned Curic, Adam Bazih, Stellantis, Bazih, Giulio Piovaccari, Gilles Guillaume, Jane Merriman, Barbara Lewis Organizations: Stellantis, MILAN, Stellantis Ventures, Products, Thomson Locations: U.S, Europe

Around 2,500 people were told to evacuate the community of Tumbler Ridge in northeastern British Columbia on Thursday. A video distributed by the British Columbia fire service showed deserted streets in Tumbler Ridge, while nearby forests were ablaze. Smoke rises from a wildfire in Tumbler Ridge, British Columbia, Canada, in this screen grab taken from a video, June 8, 2023. Temperatures in parts of British Columbia soared to more than 30 Celsius (86 Fahrenheit) this week, nearly 10 C above the seasonal average. Additional reporting by Ismail Shakil in Ottawa, Nia Williams in British Columbia and Allison Lampert in Montreal; Editing by Stephen Coates, Jane Merriman, Chris Reese and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Darcy Dober, Maite Blanchette Vezina, Gerald Cheng, Hicham Ayoun, Ismail Shakil, Nia Williams, Allison Lampert, Stephen Coates, Jane Merriman, Chris Reese, Frances Kerry Organizations: OTTAWA, British Columbia, Canadian Interagency Forest Fire, Canadian Broadcasting Corp, BC Wildlife Service, REUTERS, Environment, Transport Canada, Thomson Locations: Canadian, British, Quebec, North, Canada, Tumbler, British Columbia, Dawson Creek, Ridge, Ontario, Environment Canada, Alberta, Ottawa, Toronto , New York, Washington, New York, Montreal

With the IPO still some way off, Ola is embarking on investor meetings earlier than usual to explain the business potential of India's nascent EV market. Aggarwal plans to meet investors, including BlackRock (BLK.N), Singapore's sovereign wealth fund GIC, and mutual funds such as T Rowe Price (TROW.O), the first source said. Ola Electric declined to comment. Ola Electric is likely to file regulatory papers on the IPO for approval by August, the two sources said. Ola competes with other startups and bigger companies like TVS Motors (TVSM.NS), Ather Energy and Hero Electric, which are ramping up their EV scooter plans.

Persons: Ola, Bhavish Aggarwal, Rowe Price, Bhavish, Ola Electric, T Rowe Price, Goldman Sachs, Sriram, Scott Murdoch, Aditya Kalra, Jane Merriman Organizations: Blackrock, Bank of America, Temasek, BlackRock, Reuters, TVS Motors, Ather Energy, Hero, EV, Citi, ICICI Securities, Thomson Locations: Singapore, UK, U.S, GIC, MUMBAI, United States, United Kingdom, India

☆ Morning Bid: Canadian cloud, rates markets checked
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanWildfire smoke wasn't the only cloud from Canada that drifted over the United States this week. It was enough to nudge borrowing rates back up slightly across the maturity spectrum and served a shot across the bow to otherwise buoyant stock markets and subdued risk gauges. Futures markets still see the Fed skipping a rate rise next week, delivering one final quarter-point hike in July and reversing that move by year end. Two-year Treasury yields firmed about 10 basis points to 3.80% - and sovereign debt yields around the world edged higher in sympathy. With Fed policymakers in a blackout period before next week's meeting, and new data points thin this week, market edginess was dominated by shifting sentiment more than anything.

Persons: Mike Dolan, Russell, Jane Merriman Organizations: Federal Reserve, Weekly U.S, Fed, Stock, Treasury, Reuters Graphics Reuters, Thomson, Reuters Locations: U.S, Canada, United States, Brussels

In its 13 charges, the SEC alleged that Binance and Zhao used Merit Peak and Sigma Chain, another trading firm controlled by Zhao, to commingle corporate funds with client assets and use the monies "as they please." This put customers' assets at risk while Binance sought to "maximize" its profits, the SEC wrote in its civil complaint on Monday. "All user assets on Binance and Binance affiliate platforms, including Binance.US, are safe and secure," it said in a statement on Monday. The funds received by British Virgin Islands-based Merit Peak between 2019 and 2021 flowed from Key Vision Development Ltd, also controlled by Zhao, the SEC filing on Tuesday showed. Reuters reported last month that Key Vision and Merit Peak, along with Binance's Cayman Islands holding company, formed the core of the global crypto exchange's financial network.

Persons: Changpeng Zhao, Binance, Zhao, Guangying Chen, Chen, Tom Wilson, Jane Merriman Organizations: U.S . Securities, Exchange Commission, SEC, Sigma, British, Vision Development, Key Vision, U.S, Reuters, Vision, Binance's, Sigma Chain's, BAM, Thomson Locations: Seychelles, British Virgin Islands, Islands, Binance, United States, U.S, Singapore

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