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☆ Gauff beats Muchova to reach US Open final after protesters disrupt match
▼ + stars: | 2023-09-08 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

"Some of those points, it was so loud and I don't know if my ears are going to be okay," Gauff said. "I grew up watching this tournament so much so it means a lot to me to be in the final. The match was delayed by roughly 50 minutes early in the second set due to a protest by four spectators. Gauff swept the first three games of the opening set and broke her opponent again in the sixth. Muchova double-faulted to help Gauff break in the eighth game but saved match point in the next game before breaking the American’s serve to keep the match going.

Persons: Coco Gauff, Karolina Muchova, Mike Segar, Arthur Ashe, Muchova, Gauff, Madison Keys, Aryna, Roland Garros, Amy Tennery, Steve Keating, Peter Rutherford Organizations: Tennis, Czech, Cincinnati, USTA, Thomson Locations: Flushing Meadows , New York, United States, U.S, Czech, Belarusian, New York

☆ Wall Street analyst defends Nvidia from 'Twitter randos' spreading bearish conspiracy theory
▼ + stars: | 2023-09-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

A conspiracy theory surrounding Nvidia has made the rounds on social media, and a Wall Street firm is having none of it. Bernstein debunked the baseless theory that CoreWeave is a shell company driving much of Nvidia's recent growth. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. And while Nvidia did buy a stake in CoreWeave, it also invested in 10 other AI startups so far this year. He reiterated his "Outperform" rating on Nvidia with a $675 price target, representing potential upside of 46% from current levels.

Persons: Bernstein, Stacy Rasgon, CoreWeave, Rasgon Organizations: Nvidia, Service, Twitter, Magnetar Capital, Blackstone, Blackrock, NVIDIA, Cloud Service Providers Locations: Wall, Silicon, CoreWeave, Texas, FQ2

☆ Muchova marches into US Open semis with win over Cirstea
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +3 min

"I felt very good actually from the start till the end," Muchova told reporters. "I had a good feeling with the ball from the baseline, I felt good on the net, slicing, and with my whole game. French Open finalist Muchova got off to a quick start and raced out to a 3-0 lead before fending off nine break points to win a marathon game and extend to 4-0. A flustered Cirstea's backhand then landed wide to put her opponent up 5-0 and Muchova completed the bagel the next game. Next up for Muchova is Gauff, who was a 6-0 6-2 winner over Jelena Ostapenko earlier in the day.

Persons: Karolína Muchova, Romania's Sorana Cirstea, Mike Segar, Karolina Muchova, Romania's, Coco Gauff, Arthur Ashe, Muchova, Cirstea, Jelena Ostapenko, Rory Carroll, Peter Rutherford Organizations: Tennis, Romania's Sorana Cirstea REUTERS, Cincinnati, Thomson Locations: Flushing Meadows , New York, United States, Czech, U.S, Flushing Meadows, Los Angeles

☆ Sabalenka eases past Zheng into U.S. Open semis
▼ + stars: | 2023-09-06 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

Sabalenka will play the winner of a match between American Madison Keys and Wimbledon champion Marketa Vondrousova. "I'm super happy with the win against her... super happy with the performance," said Sabalenka, who lost in the semi-finals in her previous two U.S. Open appearances. Zheng improved in the second set, forcing Sabalenka to run back and forth along the baseline as she showed finesse to triumph in a 21-shot rally in the fifth game. "In the second set she start playing better, serving better. "I'm super happy that even though she tried to play more aggressive, I was able to keep my level."

Persons: China's Qinwen Zheng, Brendan Mcdermid, Sabalenka, Zheng Qinwen, pummelled, Zheng, Marketa Vondrousova, Amy Tennery, Ed Osmond Organizations: Tennis, U.S ., Australian, Madison Keys, Wimbledon, U.S, Thomson Locations: Flushing Meadows , New York, United States, Belarus, Belarusian, Flushing Meadows, New York

☆ Alcaraz holds off Evans to reach U.S. Open fourth round
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +2 min

Alcaraz moved through the first set like a freight train, winning the first four games, and the 26th-seeded Evans failed to convert any of his three break points in the eighth game. Evans did let out a roar as he broke Alcaraz with an unreturnable backhand down the line in the second game of the second set but the Spaniard broke back immediately and the Briton helped his opponent to another break in the fifth. Alcaraz broke Evans again with a well-executed drop shot to close out the second set. However, Evans upped his level in the third set, channeling his frustration into a superb game seven where he broke with a backhand winner. Reporting by Amy Tennery in New York; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Spain's Carlos Alcaraz, Britain's Daniel Evans, Shannon Stapleton, Carlos Alcaraz, breezed, Evans, Italian Matteo Arnaldi, Alcaraz, Spaniard, Arthur Ashe, Amy Tennery, Ken Ferris Organizations: Britain's Daniel Evans REUTERS, Flushing, Briton, Thomson Locations: Flushing Meadows , New York, United States, Flushing Meadows, Italian, New York

☆ Defending champion Alcaraz advances as injured Koepfer retires
▼ + stars: | 2023-08-30 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

The 20-year-old top seed from Spain was leading 6-2, 3-2 when Koepfer retired, having rolled his ankle at a grimace-inducing angle minutes into the match. Alcaraz will play Lloyd Harris of South Africa in the second round. "He's a great player, he has big shots so I have to be really focused on the match," said Alcaraz. Koepfer buried his head in his towel after Alcaraz forced him into a forehand error to convert on a break point chance in the seventh game. Koepfer fended off a pair of break point chances in the fifth game before solemnly walking to the net to resign.

Persons: Spain's Carlos Alcaraz, Germany's Dominik Koepfer, Shannon Stapleton, Carlos Alcaraz, Dominik Koepfer, Arthur Ashe, Koepfer, Alcaraz, Lloyd Harris of, Novak, Frenchman Alexandre Muller, Amy Tennery, Neil Fullick Organizations: Tennis, Germany's Dominik Koepfer REUTERS, U.S, Wimbledon, Thomson Locations: Flushing Meadows , New York, United States, Spain, Lloyd Harris of South Africa, German, New York

☆ Inside Citadel's $19,000-a-month summer internship, where interns are taught how to schmooze and are judged on the length of their emails
▼ + stars: | 2023-08-29 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Hedge fund Citadel selected 300 candidates from a pool of 69,000 applicants for its summer internship. AdvertisementAdvertisementHedge fund Citadel and trading firm Citadel Securities run a highly-coveted summer internship program that runs for 11 weeks. AdvertisementAdvertisementDuring Citadel's summer programs, interns lodge at upscale hotels like Hong Kong's Fullerton Ocean Park Hotel, a Citadel spokesperson told Insider on Tuesday. Ken Griffin, the majority owner of Citadel and Citadel Securities, is worth $37 billion, according to Bloomberg's Billionaires Index. Citadel posted its strongest results to date in 2022 when it made about $28 billion in revenue, while market maker Citadel Securities raked in $7.5 billion in revenue.

Persons: Kristina Martinez, Citadel's, Ken Griffin Organizations: Citadel, Bloomberg, Morning, Citadel Securities, Park, Stanford Locations: Hong

☆ Inside Citadel's $19,000-a-month summer internship, where math whizzes are coached on everything from coding to drafting emails
▼ + stars: | 2023-08-29 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Hedge fund Citadel selected 300 candidates from a pool of 69,000 applicants for its summer internship. AdvertisementAdvertisementHedge fund Citadel and trading firm Citadel Securities run a highly-coveted summer internship program that runs for 11 weeks. AdvertisementAdvertisementAccording to Bloomberg, Citadel brings in professional trainers to help them better communicate. During Citadel's summer programs, interns lodge at upscale hotels like Hong Kong's Fullerton Ocean Park Hotel, a Citadel spokesperson told Insider on Tuesday. AdvertisementAdvertisementKen Griffin, the majority owner of Citadel and Citadel Securities, is worth $37 billion, according to Bloomberg's Billionaires Index.

Persons: Kristina Martinez, Citadel's, Ken Griffin Organizations: Citadel, Bloomberg, Morning, Citadel Securities, Park, Stanford Locations: Hong

☆ Stocks like Meta are ‘best positioned’ for a market correction
▼ + stars: | 2023-08-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"In addition to gaining lending market share, management [is] laser focused on boosting credit card offerings, turning around the wealth management business and growing investment banking revenues," he said. "We think Meta is best positioned vs peers to capitalize on new spend in the industry given ramping Reels and Messaging monetization, easy comps, and increasing Advantage+ adoption," he said. Blackrock "Best positioned for rebalancings. ... We think Meta is best positioned vs peers to capitalize on new spend in the industry given ramping Reels and Messaging monetization, easy comps, and increasing Advantage+ adoption." We view TJX as a market share gainer that is well positioned to benefit from trade-down and reiterate our Buy rating.

Persons: Ebrahim Poonawala, Wells, Poonawala, BofA, Lorraine Hutchinson, TJ Maxx, Hutchinson, TJX, Justin Post, BLK Organizations: Bank of America, CNBC, Meta, TJX Companies, Investor, Facebook Locations: Bank, Blackrock, Wells Fargo, Basel

☆ Fact Check-Green lights in Hawaii sky came from satellite, predate 2023 fires
▼ + stars: | 2023-08-24 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A night-time video showing streaks of green light in the sky over Hawaii predates the August 2023 wildfires in the U.S. state by several months. The lights were filmed by Japan’s Subaru-Asahi Star Camera in January 2023 and emanate from a Chinese weather satellite launched in April 2022. The 2023 wildfires in Maui, killed over a 100, making it the deadliest wildfire in the U.S. in more than a century, Reuters reported (here). Green lights captured over the night sky in Hawaii in January 2023 predate the August 2023 wildfires. Read more about our work to fact-check social media posts (here).

Persons: Japan’s, DEWs, Read Organizations: Japan’s Subaru, Asahi, “, Office, Reuters, Subaru, of Japan, YouTube, Asahi Shimbun Locations: Hawaii, U.S, Maui, Kea, NAOJ, Dqui

☆ Forget overpriced mega-cap tech: Goldman Sachs identities 50 stocks across 15 industries set to be the true long-term beneficiaries of AI adoption from increased labor productivity
▼ + stars: | 2023-08-24 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Concentrated gains from immediate AI beneficiaries may be overpriced. These 50 stocks have been identified by Goldman Sachs are the longterm winners of AI adoption. So far this year, AI beneficiaries, mainly the mega-cap tech stocks, have contributed to much of the S&P 500's gains. But the sharp price rallies from a handful of technology stocks is making some fund managers uneasy. Goldman Sachs' note refers to this strategy as "The AI trade after the trade".

Persons: Goldman Sachs, Max Wasserman, Ryan Hammond, Goldman Sachs Jonathan Curtis, Hammond, Russell Organizations: Nasdaq, Miramar Capital, Companies, Nvidia, Microsoft, Franklin Equity Group, Curtis, Goldman, Russell

☆ Ukrainian lawmaker says GOP debate comments on reducing military aid ‘concerning and upsetting’
▼ + stars: | 2023-08-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Ukrainian lawmaker Lesia Vasylenko on Thursday said some U.S. Republican presidential candidate comments over support for her country are concerning. "With some of the United States politicians claiming that they will reduce the support to Ukraine, well, that's actually quite concerning, and upsetting in a way because the United States [is] the country that has been the strongest supporter of democracy and has been the baseline for democracy," Vasylenko told CNBC's "Squawk Box Europe," in response to statements made during the inaugural debate of Republican presidential candidates on Wednesday. The issue sharply divides the nine leading GOP contenders for the top U.S. job. During the Republican discussion, outspoken entrepreneur and political newcomer Vivek Ramaswamy said he would not support additional aid to Ukraine in its fight against the Russian invasion, calling U.S. support for Ukraine "disastrous" and a distraction from domestic issues. Ramaswamy was rebuked by opponent Nikki Haley, a former ambassador to the United Nations, who has argued for the provision of equipment and ammunition to Ukraine.

Persons: Lesia Vasylenko, Vasylenko, CNBC's, Vivek Ramaswamy, Ramaswamy, Nikki Haley, we're Organizations: Republican, United, United Nations, Republicans, CNBC Locations: Ukraine, United States, Ukrainian

☆ Fox argues its conspiracy-tinged Jan. 6 coverage is protected by the First Amendment
▼ + stars: | 2023-08-23 | by ( Marshall Cohen | ) edition.cnn.com time to read: +1 min

The pushback came in a defamation suit that Epps filed against the right-wing network. He claims Fox figures, including ex-host Tucker Carlson, destroyed his reputation by repeatedly raising the baseless idea that he led a false-flag plot to hurt Donald Trump. “Tucker Carlson (and/or his guests) described the known (and undisputed) facts” about Epps, Fox said in the filing. But this ignores the fact that a previous defamation lawsuit brought by Dominion Voting Systems demonstrated that several Fox hosts operated in bad faith, raising claims on-air that they didn’t actually believe. Fox News paid $787 million to settle with Dominion earlier this year and is still facing a $2.7 billion lawsuit from Smartmatic, another voting technology company.

Persons: CNN —, “, Ray Epps, Epps, Tucker Carlson, Donald Trump, “ Tucker Carlson, Fox, ” Organizations: CNN, CNN — Fox News, Fox, Trump, Dominion Voting Systems, Fox News, Dominion Locations: Epps, Delaware, Smartmatic

☆ Here are 6 stocks dominating the AI trade and 3 more that stand to benefit down the road
▼ + stars: | 2023-08-23 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Analysts at Goldman Sachs released a note to clients late Monday, looking at what they called "The (AI) trade after the trade." Marvell Technology (MRVL), a former Club stock and current Bullpen stock, is also included. But, in addition to surveying the AI landscape, the Goldman note aims to answer the question: What is the trade after the trade? The common theme here is enhanced worker productivity; AI leading to revenue growth and lower labor costs, an obvious benefit to the bottom line. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: you've, Goldman Sachs, Salesforce's Einstein, Goldman, Russell, —, Consumer Staples, Jim Cramer's, Jim Cramer, Jim Organizations: Goldman, Nvidia, Marvell Technology, Club, Microsoft, Russell, Costco, Consumer, CNBC, Istock, Getty

☆ Don’t be fooled by rising consumer price data, take a peek behind the numbers
▼ + stars: | 2023-08-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

CNN —US consumer prices rose 3.2% for the 12 months ending in July, according to the latest Consumer Price Index, which landed Thursday. “Don’t be fooled by the uptick in [year-over-year] inflation,” noted Julia Pollak, chief economist for ZipRecruiter. Gimme (cheaper) shelter: Shelter (i.e. “Our baseline forecast suggests that year-over-year shelter inflation will continue to slow through late 2024 and may even turn negative by mid-2024,” the researchers wrote. Uncooked beef steak prices rose 2.3% and uncooked ground beef rose 1.5%.

Persons: It’s, Don’t, ”, Julia Pollak, Joe Brusuelas, ” Brusuelas, —, Anna Bahney, Danielle Wiener, Bronner, That’s, Douglas Elliman, Miller Samuel, Spencer Platt, Jonathan Miller, “, Read, Biden, Michelle Toh Organizations: CNN Business, Bell, CNN, ZipRecruiter, RSM US, Federal Reserve, Commerce Department, San Francisco, Big Apple, Getty Locations: Manhattan, New York, New York City, China, Silicon

☆ The rising cost of shelter represented 90% of last month’s inflation
▼ + stars: | 2023-08-10 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

After steadily increasing, year-over-year shelter inflation has moved down for four consecutive months, from 8.2% in March to 7.7% in July. “Our baseline forecast suggests that year-over-year shelter inflation will continue to slow through late 2024 and may even turn negative by mid-2024,” the researchers wrote. Total inflation will go down when shelter inflation dropsCurrently, there is a disconnect between shelter inflation, which has remained higher, and other components of inflation that have fallen. For renters, shelter inflation includes rent and utility payments. The researchers at the San Francisco Fed crafted models combining several measures of local shelter and rent inflation to help explain how recent trends might affect the path of future shelter inflation.

Persons: San Francisco Fed, “, ” Organizations: DC CNN, Index, Federal Reserve Bank of San, Federal Reserve Bank of San Francisco . Housing, Housing, Federal, San Francisco, Bureau of Labor Statistics Locations: Washington, Federal Reserve Bank of San Francisco .

I couldn't afford the Iceland trip and I knew it. See Insider's picks for the best credit cards with primary rental car insurance »I wasn't ready for the billBut wait, didn't we buy car insurance? I had already spent close to $2,000 on the Iceland trip between airfare, Airbnb, the car rental and general food and fun costs. I called my car insurance company, Ariel's car insurance company, and Budget's head office. I even bought a calling card so I could ring up Budget Iceland and try to negotiate with them!

Persons: Ariel, I, I've Organizations: Service, Budget Locations: Iceland, Wall, Silicon, Reykjavík, Halifax, airfare

☆ Monfils stuns Tsitsipas, joins Medvedev and Raonic in third round
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

TORONTO, Aug 9 (Reuters) - Gael Monfils rolled back the years to upset Stefanos Tsitsipas 6-4 6-3 on Wednesday at the Canadian Open while Daniil Medvedev got his first U.S. Open tune-up event off to a solid start and home favourite Milos Raonic eased into the third round. The 36-year-old Monfils saved all three break points he faced and broke Tsitsipas' serve three times, including in the final game to send off the world number four in 85 minutes. Second seed Medvedev, competing for the first time since losing to Carlos Alcaraz in the Wimbledon semi-finals, dominated proceedings from the baseline during his 6-2 7-5 win over Italian qualifier Matteo Arnaldi. Former champion Medvedev, whose sole Grand Slam title came at the 2021 U.S. Open, saved the three break points he faced against Arnaldi and produced 29 winners as he wrapped up the victory in 86 minutes. Eighth seed American Taylor Fritz, who followed up his Atlanta title with a run to the semi-finals last week in Washington, advanced with a 7-6(7) 3-6 6-3 win over Frenchman Ugo Humbert.

Persons: Monfils, Stefanos, Daniil Medvedev, Milos Raonic, Frenchman, Russia's Medvedev, Medvedev, Carlos Alcaraz, Matteo Arnaldi, Mackenzie McDonald, Raonic, Frances Tiafoe, Taro Daniel, Daniel's, Taylor Fritz, Frenchman Ugo Humbert, Frank Pingue, Pritha Sarkar Organizations: TORONTO, Canadian, U.S, Wimbledon, Italian, Arnaldi, Eighth, Atlanta, Thomson Locations: Indian Wells, Washington, Toronto

By increasing the degree of risk attributed to certain assets, the proposed rules would require banks to hold proportionately more capital, potentially eating into returns on equity and profits. Making such lending more expensive will shrink credit available to historically under-served borrowers, something the industry is likely to fight, he said. Chen Xu, an attorney in the financial institutions group at Debevoise & Plimpton, said the new rules viewed high-revenue business lines as higher risk. Morgan Stanley (MS.N) analysts say the largest banks may take up to four years to set aside profits to comply with the new capital rules. Dennis Kelleher, head of the financial reform advocacy group Better Markets, said the banking industry had made similar complaints in the past which he believed had proven unfounded.

Persons: Mike Segar, Joe Saas, Chen Xu, Plimpton, Michael Barr, JPMorgan Chase, Jamie Dimon, Wells Fargo, Kevin Stein, Morgan Stanley, Richard Ramsden, Goldman Sachs, Ramsden, Dennis Kelleher, Douglas Gillison, Tatiana Bautzer, Nupur Anand, Saeed Azhar, Megan Davies, Anna Driver Organizations: Wall, New York Stock Exchange, REUTERS, Industry, Financial Services, Bank Policy Institute, Securities Industry, Financial Markets Association, Debevoise, JPMorgan, CNBC, Citigroup, Bank of America, Klaros Group, Banking Supervision, Better, Thomson Locations: Manhattan, New York City , New York, U.S, Washington, Wells, Basel

Save an extra $50 with this Galaxy Watch 6 dealThe additional $50 off is only available at the Samsung store links below. Samsung Galaxy Watch 6 The Samsung Galaxy Watch 6 has all the makings of an excellent Wear OS smartwatch and retains the wealth of health sensors it's known for. Samsung Galaxy Watch 6 Classic The Samsung Galaxy Watch 6 Classic is the fashionable pick for those who wear their smartwatches more as a style statement. The Wear OS watch reintroduces a physically rotating bezel for the first time since the Galaxy Watch 4. Everything you get with the Galaxy Watch 6As we've come to expect from Samsung's annual smartwatch refreshes, the Galaxy Watch 6 family boasts an array of impressive features.

Persons: We've, we've, there's, Galileo Organizations: Samsung, Galaxy Watch, Galaxy, Samsung Galaxy Watch, Samsung Galaxy, Bluetooth, Google

☆ Are U.S. seniors among the developed world's poorest? It depends on your point of view
▼ + stars: | 2023-08-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Peopleimages | E+ | Getty ImagesIs old-age income poverty too high? Consider this thought exercise: What is a tolerable poverty rate among American seniors? This ranks the U.S. behind 30 other countries in the 38-member bloc, which collectively has an average poverty rate of 13.1%. That old-age income poverty rate has declined by over two-thirds in the past five decades, according to the Congressional Research Service. Researchers seem to agree that a looming Social Security funding shortfall is perhaps the most pressing issue facing U.S. seniors.

Persons: Andrew Reilly, Reilly, Mitchell, David Blanchett, —, Zhe Li, Joseph Dalaker, hurtling, Olivia Mitchell, Blanchett Organizations: Organization for Economic Co, U.S, Employment, Labour, Social Affairs, Social Security, OECD, Security, Census, Congressional Research Service, CRS, Prudential Financial, Social, Insurance Trust Fund, Olivia Mitchell University of Pennsylvania, Pension Research, Social Security Administration Locations: U.S, Mexico, that's, PGIM, American

Kremlin opposition leader Alexei Navalny was sentenced to 19 more years in prison after being found guilty in a Russian court on a series of charges, his team confirmed Friday. Navalny faced charges of inciting and financing "extremist activity" and "rehabilitating Nazi ideology," charges he and his supporters reject. In a social media post on Thursday, Navalny said that he expected to receive a "Stalinist" prison term. Navalny, one of Russian President Vladimir Putin's most vocal critics, was already serving two prison sentences. A nine-year prison sentence on charges of embezzlement and fraud and more than two years for a parole violation.

Persons: Alexei Navalny, Navalny, Russia's, Vladimir Putin's, Biden, Matt Miller, Miller Organizations: IK, Kremlin, Navalny Locations: Russian, Moscow, Melekhovo, Vladimir, Ukraine, Russia

REUTERS/David GrayLONDON, Aug 3 (Reuters) - Rio Tinto (RIO.L) is finding out just how hard it is to produce low-carbon aluminium. The company's biggest carbon headache is its aluminium business, which last year accounted for 21.1 million metric tons of carbon emissions out of a group total of 30.3 million metric tons. The pilot plant will produce around 6,000 metric tons of alumina per year while cutting carbon dioxide emissions by about 3,000 metric tons per year. Capacity at the low-carbon AP60 smelter, also in Quebec, will be expanded by 160,000 metric tons per year, with commissioning expected in 2026. Rio is investing heavily in recycled aluminium, which can be remelted using just 5% of the power needed to produce virgin metal.

Persons: David Gray, Rio, we're, Jakob Stausholm, Peter Cunningham, Jan Harvey Organizations: Rio Tinto, REUTERS, David Gray LONDON, Queensland Aluminium, Japan's Sumitomo Corp, International Aluminium Institute, Alcoa, Giampaolo, Reuters, Thomson Locations: Rio, Gove, Darwin, Australia's Northern, Pacific, Queensland, Australia, Portland, U.S, Canada, Quebec, North

☆ Valley Bank CEO Ira Robbins on the health of regional banks
▼ + stars: | 2023-07-28 | 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 EmailValley Bank CEO Ira Robbins on the health of regional banksIra Robbins, Valley Bank CEO, joins 'Power Lunch' to discuss Valley Bank's exposure to commercial real estate, the Basel III proposal, and where Robbins has seen the biggest loan growth.

Persons: Ira Robbins, Robbins Organizations: Valley Bank, Basel III Locations: Basel

The rule, which would implement a 2017 agreement by global regulators, aims to overhaul how banks gauge their riskiness, and in turn how much money they must keep on hand. Industry opponents have already begun to criticize the plan as banks seek to soften, delay, or otherwise derail the government's long-planned effort. The proposal would see U.S. regulators implement a previous global agreement via the Basel Committee on Banking Supervision. "Bank capital is critical," said Dennis Kelleher, president and CEO of Better Markets, which advocates for tougher financial rules. "However, maximizing Wall Street’s bonuses depends on minimizing capital and that’s why Wall Street fights to prevent regulators from requiring them to have enough capital."

Persons: it’s, Ian Katz, JPMorgan Chase, Morgan Stanley, Michael Barr, Barr, Joe Biden, Dennis Kelleher, Pete Schroeder, Susan Heavey Organizations: Federal Deposit Insurance Corporation, Federal, Industry, Washington, Capital Alpha Partners, JPMorgan, Banking Supervision, Citizens Financial, Bank, Better, Thomson Locations: U.S, Basel, Huntington, that’s

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