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Finland lifts ban on transferring Yandex data to Russia
  + stars: | 2023-09-26 | by ( ) www.reuters.com   time to read: +2 min
The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. REUTERS/Evgenia Novozhenina/File Photo Acquire Licensing RightsOSLO, Sept 26 (Reuters) - Finland's data protection regulator said on Tuesday it had lifted a temporary ban on Russian tech group Yandex (YNDX.O) and Dutch-based partner Ridetech from transferring to Russia the personal data of customers of Yandex's Yango ride-hailing app. The emergency ban was announced in August in response to Russian legislation which Finland at the time believed would give Russia's Federal Security Service the right to receive data from Finnish users processed in taxi operations. Yango has said it processes data in strict compliance with General Data Protection Regulation (GDPR) and EU legislation, and that Russia in any case had no jurisdiction over the company's international business. Norway had also planned a similar ban to the one issued by Finland but had not issued a formal order and will refrain from doing so, a spokesperson for the Norwegian Data Protection Agency said.
Persons: Evgenia, Ridetech, Yango, Terje Solsvik, Ros Russell Organizations: REUTERS, Rights, Federal Security Service, Yandex, General Data Protection, Norwegian Data Protection Agency, Thomson Locations: Moscow, Russia, Rights OSLO, Finland, Finnish, Norway
A research group found Denver had the highest Cost of Living Index score among five Colorado cities. Meanwhile, Pueblo and Grand Junction were the least expensive cities to live in. The Cost of Living Index is based on a few categories, including housing and grocery items. AdvertisementAdvertisementThe following shows the five Colorado cities with data for the second quarter of 2023, sorted by their composite index. Insider also looked at the cost of living in Texas, Florida, and California using the Cost of Living Index data.
Persons: Organizations: Service, Council for Community, Economic Research, Colorado, Manhattan, C2ER Locations: Denver, Colorado, Pueblo, Wall, Silicon, Colorado Springs, Texas , Florida, California
Gold defies strength in dollar, yields as global rates peak
  + stars: | 2023-09-22 | by ( ) www.cnbc.com   time to read: +1 min
Gold firmed on Friday despite pressure from a stronger U.S. dollar and bond yields, as investors assessed major central banks' decisions to stand pat on interest rates as a signal of imminent global economic pain. Spot gold was up 0.3% to $1,924.45 per ounce by 0551 GMT, having logged its biggest daily drop since Sept. 5 on Thursday. "The markets looked at central banks and said you're not stopping hikes because inflation is beaten, you're stopping because you're worried that global growth is about to stop," said Ilya Spivak, head of global macro at Tastylive. The dollar stood near a six-month peak on the prospects of higher-for-longer U.S. rates, while benchmark 10-year Treasury yields climbed a 16-year high and global equities eyed their worst week in a month. Investors traditionally buy gold as a hedge against economic uncertainty, but higher rates tend to weigh on non-interest-paying bullion.
Persons: Ilya Spivak, Silver Organizations: Investors, U.S . Federal Reserve, of Locations: U.S
This means the customer experience starts earlier than ever before — and how companies engage them in this first point of contact is crucial. That's where purpose-built AI solutions help: AI that is specifically designed and developed for a particular application or task. The key to empowering customer self-service is a customer experience built around removing friction in their journey. If a sales agent can't efficiently solve the customer query, the customer experience suffers — no matter how friendly or approachable that sales agent may be. Creating an extraordinary customer experience across touchpointsEvery customer interaction matters, so earning their loyalty and trust is paramount to business success.
Persons: John Willcutts, Willcutts, aren't Organizations: NICE, Insider Studios
The U.S. seemed to be winning its battle against inflation, but the latest consumer price index data showed inflation rose more than expected. The University of Michigan's consumer sentiment August survey indicated consumers' one-year inflation expectations were at 3.3%, marking three consecutive months of stability. Inflation expectations, or the rate at which consumers expect prices to rise or fall in the future, can influence higher prices in the economy. Inflation expectations play a crucial role in the decisions made by the Federal Reserve. But consumer expectations of inflation are still above the Fed's 2% inflation rate target.
Persons: Joanne Hsu, It's, Hsu, Claudia Sahm, Jerome Powell's, Powell, Barry Glassman Organizations: University of Michigan, The University of, Consumers, CNBC, Federal Reserve, Sahm Consulting, Federal, Kansas City, Wealth Services Locations: U.S, Jackson Hole , Wyoming
The lawsuit against the IRS is only the latest in a series of counterpunches by the president's son. Now, Hunter Biden could be heading to trial in the midst of his father’s reelection effort. Hunter Biden, according to his memoir, tumbled into drug addiction after the death of his older brother, Beau, in 2015. Earlier this year Hunter Biden hired high-profile attorney Abbe Lowell, a legal heavyweight known for also representing Jared Kushner and Ivanka Trump. “And it is not even touching on the issue of whether people think that he is being prosecuted because he’s Hunter Biden," she said.
Persons: — Hunter Biden, Hunter, Biden, Hunter Biden aren't, , David Brock, , Hunter Biden, Hunter Biden’s, Donald Trump, Biden hasn't, Trump, Hunter Biden's, Michael LaRosa, ” LaRosa, Joe Biden, , that's, Beau, Abbe Lowell, Jared Kushner, Ivanka Trump, Mr, Jennifer Rodgers, he’s Hunter Biden, ___ Durkin, Michael Balsamo Organizations: WASHINGTON, IRS, White, Democratic, Biden, Associated Press, House Republicans, Trump, Justice Department, Republicans, NORC, for Public Affairs Research Locations: United States, Delaware, Boston
ET, the yield on the 10-year Treasury was up by 2.5 basis points to 4.347%. The 2-year Treasury yield was last trading more than 2 basis points higher at 5.056%. Markets are pricing in a 99% chance that the Fed will keep rates unchanged this week, according to CME's FedWatch tool, which gauges pricing in fed funds futures. The figures were followed by the University of Michigan's consumer sentiment report on Friday, which reflected a significant decline of inflation expectations. Before the Fed's rate decision on Wednesday, several reports from the housing sector are due, including September's Housing Market Index data on Monday, as well as building permit and housing starts data on Tuesday.
Organizations: Treasury, U.S, Federal Reserve, PPI, University of
U.S. stock futures inched up Sunday night as investors look toward the Federal Reserve's next policy decision. The broad market index and the Nasdaq both ended the previous trading week in the red, marking their second straight week of losses. However, Krosby believes higher prices could be ahead as the labor market remains strong. September's Housing Market Index data is scheduled to be released. The New York Fed will also be announcing September's Business Leaders Survey results.
Persons: Dow, it's, Quincy Krosby, Krosby Organizations: New York Stock Exchange, Federal, Dow Jones, Nasdaq, Fed, LPL, PPI, United Auto Workers, UAW, New Locations: Detroit, September's
The Federal Reserve is widely anticipated to hold rates steady in the week ahead, but key for investors will be the central bank's guidance on where it's headed from here. Investors are assessing a mixed batch of economic reports ahead of the Fed's September policy meeting. Meanwhile, August retail sales came in better than expected, jumping 0.6% against a 0.1% increase expected by economists. Housing data released in the week ahead could show whether housing demand remains solid. Week ahead calendar All times ET.
Persons: Bank's Rob Haworth, Jerome Powell, Powell, Hogan, Instacart, Arm's, Mills, Lisa Cook, , Jeff Cox, Michael Bloom Organizations: Federal Reserve, Dow Jones, Dow, Nasdaq, Investors, PPI, Federal, Riley, FedEx, Housing, Philadelphia Fed, Darden, FactSet, Systems, National Bureau of Economic Research, Artificial Intelligence, PMI, SA, PMI Manufacturing SA, PMI Services SA Locations: NAHB, Toronto, Canada
"I think the potential for unintended harm from the use of AI exists in any federal agency and in any use of AI," said DHS Chief Information Officer Eric Hysen. And when we interact with people, it can be during some of the most critical times of their lives." Historically, academics have flagged the dangers of AI regarding racial profiling and because it can still make errors while identifying relationships in complex data. The guidelines will also require that facial recognition matches discovered using AI technology be manually reviewed by human analysts to ensure their accuracy, according to a new directive that the agency plans to release alongside the AI memo later on Thursday. Another area where DHS has already uses AI technology extensively is on the southern border, where the agency has deployed more than 200 surveillance cameras, said Hysen.
Persons: Marco Bello, Alejandro Mayorkas, Eric Hysen, Hysen, Alexandra Alper, Christopher Bing, Chizu Organizations: U.S . Department of Homeland Security, REUTERS, Rights, Department of Homeland Security, Customs, Border Patrol, DHS, Thomson Locations: Mexico, U.S, Del Rio , Texas, California's San Isidro Port
Mortgage rates have been a bit volatile from day to day, but fixed rates are relatively flat compared to a month ago. Average 30-year mortgage rates are just above 7% today; rates ticked up slightly following the release of the latest Consumer Price Index data on Wednesday. Most major forecasts expect mortgage rates will trend down toward the end of this year and throughout 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase a Bit (+0.20%)The current average 30-year fixed mortgage rate is 7.05%, up 20 basis points since this time last week.
Persons: you'll, It's, refinance Organizations: Bureau of Labor Statistics, CPI, Zillow, FHA Locations: Chevron
A logo for TMX Group, which operates the Toronto Stock Exchange, is seen after the company announced it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms in Toronto, Ontario, Canada April 27, 2018. REUTERS/Chris Helgren/File Phoo Acquire Licensing RightsTORONTO, Sept 13 (Reuters) - Canada's main stock exchange operator, TMX Group, is urging companies seeking to list on its platform to accelerate their plans, a top exchange official said, citing an uncertain economy and next year's U.S. presidential election as factors shrinking the window of opportunity. McPherson said TMX has advised companies seeking to list that the "window of opportunity" for initial public offerings, when it opens, might be a short window of three to six months rather than a year. "There is a pipeline out there that's waiting for the right time to enter the market," McPherson said. In Canada the central bank has raised key interest rate to 22-year high of 5% to fight stubborn inflation.
Persons: Chris Helgren, Dean McPherson, McPherson, TMX, Divya Rajagopal, David Gregorio Our Organizations: TMX Group, Toronto Stock Exchange, REUTERS, Rights, TMX, Mining, Reuters, U.S, TSX, Thomson Locations: Toronto , Ontario, Canada, Ukraine, Russia
November Brent crude futures rose 28 cents to $90.92 a barrel at 0300 GMT, while U.S. West Texas Intermediate crude futures for October edged 35 cents higher to $87.64. The U.S. Federal Reserve is widely expected to leave interest interest rates unchanged at a policy meeting next week, though views are split over whether the Fed will raise rates or pause again in November. The European Commission on Monday forecast the euro zone to grow more slowly than previously expected in 2023 and 2024. The IEA last month lowered its 2024 forecast for oil demand growth to 1 million bpd, citing lackluster macroeconomic conditions. OPEC's August report, meanwhile, kept its 2.25 million bpd demand growth forecast for 2024 unchanged.
Persons: Nathan Frandino, Brent, Tina Teng, Teng, OPEC's, Jeslyn Lerh, Stephanie Kelly, Jamie Freed Organizations: Phillips, American West, REUTERS, bbl, Brent, U.S, West Texas, Traders, CMC, U.S . Federal Reserve, European Central Bank, European, Investors, International Energy Agency, Organization of, Petroleum, IEA, Thomson Locations: Rodeo , California, American, U.S, SINGAPORE, Europe, Saudi Arabia, Russia, China, OPEC, Singapore, New York
Oil prices stable as market awaits data on inventories, economy
  + stars: | 2023-09-12 | by ( ) www.cnbc.com   time to read: +1 min
OPEC Secretary General Haitham Al Ghais said finger-pointing and misrepresenting the actions of OPEC and OPEC+ was "counterproductive." Investors awaited industry data on U.S. crude stockpiles due at 2030 GMT on Tuesday. Crude inventories were expected to have fallen by about 2 million barrels in the week to Sept. 8, a preliminary Reuters poll showed on Monday. The IEA last month lowered its 2024 forecast for oil demand growth to 1 million bpd, citing lackluster macroeconomic conditions. OPEC's August report, meanwhile, kept its 2.25 million bpd demand growth forecast for 2024 unchanged.
Persons: Haitham Al Ghais, Brent, OPEC's Organizations: Brent, U.S, West Texas, Investors, European Central Bank, European, International Energy Agency, Organization of, Petroleum, IEA Locations: OPEC, Europe, U.S, Saudi Arabia, Russia
Smucker's $5.6 bln buyout dealIndexes: S&P 500 +0.67%, Nasdaq +1.14%, Dow +0.25%Sept 11 (Reuters) - The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. The S&P 500 climbed 0.67% to end at 4,487.46 points. Hostess Brands (TWNK.O) surged 19.1% after J. M. Smucker (SJM.N) said it would buy the Twinkies-maker in a $5.6 billion deal. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted 14 new highs and 11 new lows; the Nasdaq recorded 36 new highs and 199 new lows.
Persons: Brendan McDermid, Morgan Stanley, Tesla, megacaps, Walt Disney, Greg Bassuk, chipmaker, Ankika Biswas, Shreyashi Sanyal, Shubham Batra, Noel Randewich, Arun Koyyur, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, Qualcomm, Apple Hostess Brands, Nasdaq, Dow, Amazon, Microsoft, Sunday, Charter Communications, ESPN, NFL, Federal, New York Fed, PPI, AXS Investments, Traders, Dow Jones, Apple, Hostess Brands, Thomson Locations: New York City, U.S, New York, Bengaluru, Oakland, Calif
Average 30-year mortgage rates have inched down 11 basis points from where they peaked in late August, according to Freddie Mac. If the CPI comes in higher than expected, mortgage rates may inch up a bit and stay elevated for longer. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesThe average 15-year mortgage rate was 6.52% last week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022.
Persons: Freddie Mac, it's Organizations: Federal Reserve, Fed, Zillow Locations: Chevron
Explore How Income Influences Attendance at 139 Top CollegesAt many selective private colleges, being very rich is a door to entry — students with parents earning in the top 1 percent attend at much higher rates than other similarly qualified students, new data shows. The data is available for 139 colleges, including the top private colleges according to Barron’s and many of the top public and private colleges in U.S. News & World Report. The researchers also had access to internal admissions data for several of the most elite private colleges. In much of the next tier of elite private colleges, rich students have a similar advantage. Even though college attendance rises with parental income, when it comes to educating the majority of America’s four-year college students, public universities play a vital role — regardless of how much their parents make.
Persons: Raj Chetty, Deming, Friedman, Professor Chetty, John N . Friedman of Brown, David J . Deming, , Jesse Rothstein, Chetty, They’re Organizations: U.S . News, Harvard, Dartmouth, Chetty, Ivy League, University of California, Stony Brook University, Carnegie Mellon Locations: U.S, Dartmouth, Georgetown, Berkeley, Los Angeles, California, Swarthmore, Wellesley
Gold gains as U.S. inflation data takes center stage this week
  + stars: | 2023-09-11 | by ( ) www.cnbc.com   time to read: +1 min
Gold prices rose on Monday, supported by a retreat in the dollar as investors looked forward to U.S. inflation data that could define the Federal Reserve's moves on interest rates. Spot gold gained 0.3% to $1,922.89 per ounce by 0313 GMT, having lost 1% in the previous week. Gold had found support around its 200-day moving average, an important technical level not easy to crack, he said, adding that if U.S. inflation undershoots that could weigh further on the U.S. dollar. Spot gold may retest a resistance at $1,930 per ounce, according to Reuters technical analyst Wang Tao. The U.S. Consumer Price Index data for August due on Wednesday is expected to shape the Fed's interest rate decisions this year.
Persons: Matt Simpson, Gold, Wang Tao, Tim Waterer Organizations: U.S ., The U.S ., U.S, Consumer Locations: The
Just 1 in 5 savers have competitive interest rates of 3% or better on their cash, a Bankrate survey from earlier this year found. Here are several mistakes with cash that financial advisors say investors should try to avoid. For savers who are keeping large balances in accounts providing low interest rates, Harrington said he tries to explain to them that they are losing spending power over time. If you have a financial advisor, you should be talking to them about all of your cash savings, according to Lane at Flourish. While financial advisors tend to believe they manage all of their clients' money, no financial advisor truly does, Lane said.
Persons: Xavier Lorenzo, , Gary Zimmerman, Max Lane, Lane, Tim Harrington, Harrington, they'll, Cash Organizations: MaxMyInterest, Longview Financial Advisors Locations: Longview, San Rafael , California
Average 30-year mortgage rates dropped a bit overall last week, according to Freddie Mac, but they're still above 7%. If price growth continues to show signs of cooling, mortgage rates could recede somewhat. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control.
Persons: Freddie Mac, Fannie Mae Organizations: Bureau of Labor Statistics, Zillow, Federal Reserve, Mortgage, Association, Sky, ARM Locations: Chevron
But it has created risk that customers could turn to retailers known for lower food prices, such as Walmart, Aldi or Dollar General . Kroger reaffirmed its full-year guidance, saying it expects identical sales excluding fuel to range between 1% and 2%. In an earnings release, he said the grocer expects inflation to "continue to decelerate" and expects a tougher backdrop for consumers in the months ahead. Kroger CEO Rodney McMullen said on an earnings call that slowing inflation could lift sales in another way. He said Kroger has stepped up security and added new tech to try to fight crime, but said Kroger expects the theft trends "will continue to be a challenge for the remainder of the year."
Persons: Kroger, Fred Meyer, Ralphs, King Soopers, Gary Millerchip, Rodney McMullen, McMullen, Millerchip Organizations: Kroger, LSEG, Target, Walmart, Aldi, Express, U.S . Bureau of Labor Statistics, Albertsons, S Wholesale Grocers, Grand Union Locations: U.S, Florida, Washington ,
Customers look at fruits at a makeshift stall in a market in Mexico City, Mexico April 8, 2022. Meanwhile, annual core inflation is forecast to have slowed to 6.12%, which would mark its lowest level since December 2021. The closely watched core price index is considered a better gauge of price trends because it strips out some volatile food and energy prices. In August alone, consumer prices likely rose 0.52% compared to July, while core inflation is forecast to have risen 0.30%, according to the poll. (MXINFL=ECI), (MXCPIX=ECI)Mexico's national statistics agency INEGI will publish consumer price index data for August on Thursday.
Persons: Luis Cortes, Bank of Mexico Governor Victoria Rodriguez, Noe Torres, Gabriel Burin, Paul Simao Organizations: REUTERS, Bank of, Bank of Mexico Governor, Thomson Locations: Mexico City, Mexico, MEXICO, Bank, Bank of Mexico, Buenos Aires
The yield on the 10-year Treasury notes climbed to 4.23%, while two-year yield rose to 4.928% in the run-up to more economic data this week. "The recession is definitely delayed within the United States ... we are seeing fairly weak economic environments in both China and Europe." U.S. economic data since the Fed's July meeting has added to the impression the economy is cooling without cracking, likely bolstering the case against further interest rate increases. All three main U.S. stock indexes logged gains in the previous week after data pointed to a softening labor market. The S&P index recorded eight new 52-week highs and 13 new lows, while the Nasdaq recorded 27 new highs and 63 new lows.
Persons: Brendan McDermid, Blackstone, China stoked, Jason Pride, Alibaba, Goldman Sachs, advancers, Shristi Achar, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, China, Dow, Nasdaq, Apple, PDD Holdings, Baidu, Labor, Traders, Dow Jones, Blackstone, NYSE, Thomson Locations: New York City, U.S, China, United States, Europe, Saudi Arabia, Russia, Bengaluru
One of Russia's richest men, Andrey Melnichenko, said the Ukraine war had made him a "pariah." Melnichenko now lives in the UAE, where his $300 million Motor Yacht A is moored. His $578 million Sailing Yacht A was seized by Italian authorities shortly after he was sanctioned. AdvertisementAdvertisementOne of Russia's richest individuals said he'd become a "pariah" in the United Arab Emirates where he fled after being sanctioned. Oleg Tinkov managed to get sanctions against him in the UK lifted after slamming Putin's invasion of Ukraine and getting the backing of British business tycoon Richard Branson.
Persons: Andrey Melnichenko, Melnichenko, he'd, Vladimir Putin, I'm, Roman Abramovich, Arkady Volozh, Oleg Tinkov, Richard Branson Organizations: United, United Arab Emirates, Financial Times, Forbes, Chelsea FC, Bloomberg, EU Locations: Ukraine, UAE, United Arab, Russia, Israel, Le
Capital expenditures climbed 4.5% from a year earlier and fell 1.2% on a seasonally adjusted quarterly basis, finance ministry data showed. If that spreads to bigger cities, that will cool demand for China-bound shipments and capex," said Takeshi Minami, chief economist at Norinchukin Research Institute. If Europe and America, which have held firm so far, cave to inflation pressure, that would further sap Japanese corporate appetite for investment." The capex data will be used to calculate revised gross domestic product figures due on Sept. 8. Corporate recurring profits surged 11.6% during the second quarter from the same period a year ago to hit a record 31.6 trillion yen, while corporate revenues rose 5.8%.
Persons: Takeshi Minami, Minami, Tetsushi Kajimoto, Tom Hogue, Edwina Gibbs Organizations: Norinchukin Research, Thomson Locations: TOKYO, China, Japan, U.S, Europe, America
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