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☆ Breakingviews: Bailey outburst blunts BoE crisis-fighting tools
▼ + stars: | 2022-10-12 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

LONDON, Oct 12 (Reuters Breakingviews) - Andrew Bailey is in danger of blunting the Bank of England’s crisis tools. The UK central bank governor on Tuesday vowed to end emergency bond-buying that has been propping up pension funds, even as investors increasingly assumed the scheme might get extended. Indeed, 30-year bond yields have risen further on Wednesday. CONTEXT NEWSBank of England Governor Andrew Bailey reiterated in a speech on Oct. 11 that the bank planned to its cease its emergency government bond purchases on Oct. 14. The BoE announced a 65 billion pound government bond purchase scheme on Sept. 28 to help indebted pension funds facing margin calls avoid being forced to sell gilts.

☆ BoE drawn into risky game of financial whac-a-mole
▼ + stars: | 2022-10-11 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

On Tuesday, the UK central bank said it would buy more bonds to avert a fire sale by pension funds. But its plan to end such support on Friday is hampered by a distressed bond market, and wayward government. Prime Minister Liz Truss’s unfunded plan to cut taxes had triggered a surge in government bond yields, which in turn forced indebted pension funds to sell assets. Register now for FREE unlimited access to Reuters.com RegisterThere are plenty of signs that the bond market remains distressed. Without a credible fiscal strategy, investors may continue to steer clear of UK gilts.

☆ Factbox: Winners of 2022 Nobel prizes
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

Nobel Prize for Peace - Jailed Belarusian activist Ales Byalyatski, Russian rights group Memorial and Ukraine's Center for Civil Liberties won the 2022 Nobel Peace Prize amid a war in their region that is the worst conflict in Europe since World War Two. Register now for FREE unlimited access to Reuters.com RegisterNobel Prize for Literature– French author Annie Ernaux won the 2022 Nobel Prize in Literature for "the courage and clinical acuity" in her largely autobiographical books examining personal memory and social inequality. Nobel Prize in Chemistry - Scientists Carolyn Bertozzi, Morten Meldal and Barry Sharpless won the 2022 Nobel Prize in Chemistry for discovering reactions that let molecules snap together to create new compounds and that offer insight into cell biology. Nobel Prize in Physics - Scientists Alain Aspect, John Clauser and Anton Zeilinger won the 2022 Nobel Prize in Physics for experiments in quantum mechanics that laid the groundwork for rapidly-developing new applications in computing and cryptography. Nobel Prize in Physiology or Medicine - Swedish geneticist Svante Paabo won the 2022 Nobel Prize in Physiology or Medicine for discoveries that underpin our understanding of how modern day people evolved from extinct ancestors at the dawn of human history.

☆ Tighter IT Budgets Hit Global Laptop, PC Shipments
▼ + stars: | 2022-10-10 | by ( Angus Loten | ) www.wsj.com time to read: +4 min

Global shipments of desktop and laptop computers fell in the third quarter by a record 18% on a year-over-year basis to a total of 69.4 million units, according to market research firm Canalys. International Data Corp., a technology industry research firm, reported similar declines in third-quarter consumer PC sales. The firm is expected to report commercial PC sales next week, said IDC research manager Jitesh Ubrani. On Monday, Gartner said laptop demand among large enterprises fell sharply in the third quarter, while overall global PC sales saw their steepest decline in over two decades, Gartner said. In the third quarter, worldwide shipments of personal computers dropped 19.5% from a year ago, Gartner reported.

Members of the Royal Swedish Academy of Sciences Tore Ellingsen, Hans Ellegren and John Hassler announce the 2022 Nobel Prize for Economic Sciences, during a news conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden October 10, 2022. The winners are Ben S. Bernanke (USA), Douglas W. Diamond (USA) and Philip H. Dybvig (USA). "Some households and some firms are already weakened," Gernot Doppelhofer, professor at the economics department of the Norwegian School of Economics (NHH) said. The economics prize is not one of the original five awards created in the 1895 will of industrialist and dynamite inventor Alfred Nobel. It was established by Sweden's central bank and first awarded in 1969, its full and formal name being the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

☆ India’s words are anti-war, but New Delhi’s actions are propping up Putin’s regime
▼ + stars: | 2022-10-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +8 min

New Delhi has repeatedly abstained from votes condemning Russia at the United Nations – providing Moscow with a veneer of international legitimacy. And in August, India participated in Russia’s large-scale Vostok military exercises alongside China, Belarus, Mongolia and Tajikistan – where Moscow paraded its vast arsenal. “There’s a feeling that Putin is pushing India’s limits because in some ways, it’s put itself out on a limb. Mikhail Svetlov/Getty ImagesSuperficially at least, India and China also appear to have similar positions on the Ukraine war. But despite India’s increasing closeness with the West, it is prioritizing the dangers in its own backyard, analysts say.

"We are deeply concerned about recent rapid and one-sided market moves driven in part by speculative trading," Suzuki told the news conference. The remarks came after the government's decision on Thursday to intervene in the currency market to stem yen weakness by selling dollars and buying yen for the first time since 1998. read moreKuroda said the government's intervention was an appropriate move to deal with "rapid, one-sided" yen moves. "Monetary policy and currency policy have different goals and effects," he said. "It was a meaningful move that showed Japan's determination it won't leave unattended sharp market volatility," he said.

☆ The Fed is embracing a possible housing-market correction as a way to get ‘red-hot’ prices back to a more sustainable level
▼ + stars: | 2022-09-22 | by ( Ben Winck | ) www.businessinsider.com time to read: +4 min

The housing market is in a slump. "We probably in the housing market have to go through a correction to get back to that place." The National Association of Home Builders and Wells Fargo Housing Market Index — a popular gauge of homebuilder confidence — tumbled further into recession territory in September. As the Fed's benchmark rate creeps higher still and lifts mortgage rates, demand for homes is likely to crumble even further. "From a sort of business cycle standpoint, this difficult correction should put the housing market back into better balance."

☆ Liz Cheney says Mike Pence was 'essentially the president' on January 6 as Trump refused to send reprieve
▼ + stars: | 2022-09-20 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Cheney suggested that Mike Pence was "essentially" the acting president on January 6, 2021. "Testimony that President Trump was the only person who refused to respond to desperate calls for help, even from his own congressional allies. In her speech on Monday, Cheney suggested that Trump's second-in-command, Mike Pence, stepped into his superior's role. "If you watched our hearings closely, you understand that Vice President Mike Pence was essentially the president for most of that day," she said. After Trump assailed Pence on Twitter for refusing to reject Electoral College votes for President Joe Biden, rioters throughout the Capitol began chanting "hang Mike Pence."

☆ Trump is fuming over the attention DeSantis is getting for sending migrants to Martha's Vineyard: Rolling Stone
▼ + stars: | 2022-09-19 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Two sources close to Trump say he is annoyed at the attention DeSantis is getting. Last week, DeSantis sent planeloads of migrants to Martha's Vineyard as a political stunt. Specifically, Trump was concerned about the political stunt DeSantis pulled last week, when he chartered two planes to bring 50 migrants to Martha's Vineyard. For his part, DeSantis claimed the migrants flown to Martha's Vineyard "hit the jackpot" and said he plans to continue flying migrants out to other states. Trump suspects DeSantis timed the Martha's Vineyard stunt to boost his profile among GOP voters, per Rolling Stone's sources.

☆ Cannabis tech startup Flowhub laid off about 15% of its employees this summer as legal marijuana sales falter
▼ + stars: | 2022-09-12 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +2 min

Cannabis tech startup Flowhub laid off about 15% of its workforce in June and July. Layoffs have plagued cannabis and cannabis tech firms in recent weeks and months. Cannabis tech startup Flowhub has laid off about a dozen employees — or roughly 15% of its workforce, Insider has learned. The people told Insider the layoffs were a result of slowing legal cannabis sales in states like Colorado and California, the competitive environment for cannabis tech startups, and the challenging fundraising environment for tech startups more generally. And other cannabis companies, including Eaze, Weedmaps, and Curaleaf have laid off employees in recent weeks and months.

☆ Cannabis companies are racing to cash in on New York's legal marijuana market, but illicit weed vans and galleries are posing a surprising threat
▼ + stars: | 2022-03-28 | by ( Yeji Jesse Lee | Jeremy Berke | ) www.businessinsider.com time to read: +5 min

These "gray market" sellers aren't paying taxes like regulated cannabis companies. On the streets of New York City, it feels as if the cannabis market is already in full swing. While cannabis is legal to possess and consume in New York, businesses need licenses to sell cannabis in the state. Unlicensed cannabis sales continue to compete with regulated cannabis companiesIn states and countries that have already legalized cannabis for recreational use, regulated cannabis companies have struggled to compete against their illicit counterparts. In Canada, which legalized cannabis in 2018, the rollout of the legal market was plagued by supply-chain issues and persistent illicit sales, as Insider reported.

☆ Italian food: Classic dishes everyone needs to try
▼ + stars: | 2021-02-17 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +24 min

CNN —Think of Italy and you’re likely to think of food first and all the beautiful places to see second. The original ancient recipe is protected by the Azdore, “pasta priestesses” who prepare fresh tagliatelle for clients each day across the region at fresh pasta boutiques. Malloreddus alla CampidaneseMalloreddus alla Campidanese is a tasty gift from the Italian island of Sardinia. ShutterstockHand-made squared ravioli with zig-zag edges filled with roasted meat, these are usually eaten either with veal broth, a rich meat sauce or with butter and sage. Pasta, meat, cheese, vegetables, tortellini, eggs, sausages and even fish are mixed together with besciamella sauce and placed inside the dough, which is then folded and cooked in an oven.

☆ China is slowing 'permanently' and the rest of Asia needs to adjust to the new norm, says ANZ
▼ + stars: | 2019-12-13 | by ( Stella Soon | ) www.cnbc.com time to read: +1 min

That means increasing domestic demand, and that means getting domestic financial systems right," Yetsenga told CNBC on Thursday. The Chinese flag floats before the skyscrapers of multinational corporations on February 23, 2018 in Shanghai, China. "I think we all need to accept that China is slowing structurally — we use the word 'structural' and really, we mean 'permanently,'" he said. "My expectation is, we say goodbye to (6% growth), it's very unlikely we ever get back to (6% growth). I think this is a permanent slowdown in China," said Yetsenga.

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