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☆ Exiled Chinese businessman stole millions from followers, US prosecutor says
▼ + stars: | 2024-07-10 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Guo Wengui (also known as Miles Kwok) holds a news conference with Steve Bannon in New York, New York, U.S., November 20, 2018. Finkel showed jurors videos of Guo wearing sunglasses and standing on the deck of a yacht pitching investments. "Was Miles Guo targeted by the CCP? Prosecutors say Guo used multiple aliases, including Miles Guo and Miles Kwok. Guo paid Bannon $1 million as part of a consulting contract designed to lend legitimacy to his anti Chinese Communist Party movement, Finkel said.

Persons: Guo Wengui, Miles Kwok, Steve Bannon, Carlo Allegri, Ryan Finkel, Guo, Finkel, Miles Guo, Donald Trump, Bannon, Luc Cohen, Noeleen Walder, Leslie Adler Organizations: REUTERS, Lamborghini, CCP, Chinese Communist Party, Prosecutors, Thomson Locations: New York , New York, U.S, Manhattan, Connecticut, China, New York

☆ Gregg Berhalter fired as U.S. men’s soccer coach after Copa America first-round exit
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: +2 min

Gregg Berhalter, Head Coach of United States reacts after the first half during the CONMEBOL Copa America USA 2024 Group C match between Panama and United States at Mercedes-Benz Stadium on June 27, 2024 in Atlanta, Georgia. Gregg Berhalter was fired as U.S. men's soccer coach on Wednesday, nine days after his team's first-round exit from the Copa America flamed doubts he was the right person to remain in charge for the 2026 World Cup. Berhalter earned $2,291,136 in 2022, including $900,000 in bonuses for the Americans qualifying for the World Cup and reaching the second round. A top-level men's coach could put pressure on the USSF to increase the salary of newly hired women's coach Emma Hayes. Just 23 months remain before the World Cup comes to the United States for the second time and the Americans play their opener at Inglewood, California, on June 12, 2026.

Persons: Gregg Berhalter, Matt Crocker, Berhalter, Crocker, Cindy Parlow Cone, Jürgen Klopp, Thierry Henry, Marcelo Bielsa, Jesse Marsch, Hugo Pérez, Pellegrino Matarazzo, David Wagner, Steve Cherundolo, Jim Curtain, Massimiliano Allegri, Mauricio Pochettino, Emma Hayes Organizations: CONMEBOL Copa America USA, Mercedes, Benz, Copa America, Sporting, Canada, USSF, CONCACAF Nations League Locations: States, Panama, United, Atlanta , Georgia, America, New Zealand, United States, Inglewood , California

☆ What is Canada Day and how is it celebrated? The answer is more complicated than some might think
▼ + stars: | 2024-07-01 | by ( Karla Cripps | ) edition.cnn.com time to read: +7 min

Meanwhile, the July 1 holiday to commemorate Canada’s Confederation became official in 1879, and was originally called Dominion Day. The late Queen Elizabeth II, seen here joining the Canada Day celebrations in Ottawa in 1997, visited Canada 22 times during her reign. Some early Dominion Day celebrations featured a ‘Dominion Salute’ of one gun for each province. Cole Burston/Getty ImagesIt wasn’t until 1982 that Dominion Day officially became Canada Day. For more information on the event, visit the official Canada Day website.

Persons: Matthew Hayday, don’t, ”, Hill, Mark Horton, Forrest, –, ’ ”, Queen Elizabeth II, Carlo Allegri, “, King, Cole Burston, Hayday Organizations: CNN, Canada, Canadian Forces, Department, Ontario’s Guelph University, Royal Canadian Air Force, Independence, Canada’s, Dominion, British North America, United Province of, “, Archives, Toronto Globe, Globe, Ottawa, of Canada, National Capital Locations: Canada, Vancouver, Toronto, Charlottetown, Ottawa, British, United Province, United Province of Canada, Ontario, Quebec, Brunswick, Nova Scotia, Independence, AFP, Canadian, United States, Union, “, American, ”, LeBreton

A DoorDash delivery person is pictured on the day they hold their IPO in the Manhattan borough of New York City, New York, U.S., December 9, 2020. Doordash shares fell 2% to $111.68 after the report, before recovering some of that loss. However this year, those shares were automatically converted into class A shares, Deliveroo's IPO prospectus shows. Online food delivery companies have looked to pivot away from unprofitable markets. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Carlo Allegri, Doordash, Deliveroo's, Will Shu, Shu, Deliveroo, Greg Orlowski, Tony Xu, U.S . Doordash, Uber, Amy, Jo Crowley, Abigail Summerville, Anousha Sakoui, Alexander Smith, Nick Zieminski Organizations: REUTERS, Companies, Deliveroo, Chevron, DST Global, Sunday Times, Financial Times, U.S ., Wolt, United Arab, Thomson Locations: Manhattan, New York City , New York, U.S, Chevron San Francisco, London, Taiwan, Deliveroo, France, United Arab Emirates, Hong Kong

☆ Inflation data commands center stage next week and provides a test for the market rally
▼ + stars: | 2024-05-11 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

All three major U.S. stock indexes closed higher for the week, led by the Dow Jones Industrial Average . The Nasdaq Composite added 1.14% while the S & P 500 advanced 1.85% in a relatively quiet week of economic updates. Within the portfolio, Disney and Wynn Resorts released quarterly numbers; we took issue with the stock reaction to both reports. It also raises the stakes around major economic releases, such as next week's consumer inflation report. In the week ahead, earnings season continues — headlined by Walmart on Thursday — and inflation data will dominate the economic calendar.

Persons: We've, Jim Cramer, Dow Jones, we'll, We'll, Stanley Black, Decker, Jack, JACK, Arcutis, Spero, JD.com, Armour, Jim Cramer's, Jim, Carlo Allegri Organizations: Dow Jones, Nasdaq, Disney, Wynn Resorts, Procter, Procter & Gamble, Walmart, CPI, PPI, Club, Home Depot, Biotech Corporation, Music Entertainment, Central Puerto S.A, TeraWulf Inc, Paysafe Group Holdings, QuickLogic Corporation, Kopin Corp, Royalty Corp, Agilysys Inc, Crop Solutions Corp, Inovio Biomedical, Intercorp Financial, Lithium, Argentina ) Corp, Sea, Sony Group Corporation, SONY, Holding, HudBay Minerals, Autolus Therapeutics, Game Technology, Nu Holdings, Dragonfly Energy Holdings Corp, Bakkt Holdings, Prestige Consumer Healthcare, SilverCrest Metals, Inc, Mining Corp, Acurx Pharmaceuticals, Cresco Labs, Dole plc, DOLE, Arcos Dorados Holdings, ARCO, Cisco Systems, Grab Holdings, Copa Holdings S.A, Technologies, Iris Energy, KORE Group, Super, Spero Therapeutics, ZTO, Baidu, Deere & Company, NICE, Lightspeed Commerce, Ship Lease, Canada Goose Holdings, Drainage Systems, Consolidated Water Co, Outlook Therapeutics, Despegar.com, Corp, DXC Technology Company, Flowers Foods, Bruker Corporation, WYNN, CNBC, Foods Locations: Procter &, Central, Cayman, Lithium Americas, Argentina, Manhattan, New York City

☆ The ‘Sephora kid’ trend shows tweens are psyched about skincare. But their overzealous approach is raising concerns
▼ + stars: | 2024-03-12 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +9 min

Tweens gravitate to Sephora and Ulta for the same reason that adult shoppers do. Carlo Allegri/ReutersThe retinol products sold in beauty products stores, she said, are for mature skin of older consumers. The beauty products chain also operates several hundred smaller format Sephora stores inside of Kohl’s department stores. Jennifer O’Brien celebrated her twin daughters’ 12th birthday at an event held at a Sephora store in Long Island, New York. Jennifer O’Brien's treated her twin daughters to a skincare event for their birthday this year at a Sephora store.

Persons: New York CNN — Tweens, skincare, ”, Lauren Penzi, gravitate, “, Stacey Tull, Tull, “ Retinol, it’s, Carlo Allegri, Penzi, she’s, Ulta, tweens, She’s, ” Penzi, Moët Hennessy Louis Vuitton, Jennifer O’Brien, Jennifer O’Brien Ulta, O’Brien, Stanley, JC Penney, Jennifer O’Brien's, Jennifer O’Brien “, Gen Alpha, Sheryl Jorgensen Masowdi’s tween, Sheryl Jorgensen Masowdi, Masowdi Organizations: New, New York CNN, Gen Alpha, CNN, influencers, ”, Gen Locations: New York, Sephora, New York City, Missouri, Manhattan, United States, Long Island , New York

☆ Was Sydney Sweeney’s Oscars after-party look a subversive nod to Marilyn Monroe?
▼ + stars: | 2024-03-11 | by ( Leah Dolan | ) edition.cnn.com time to read: +4 min

CNN —There was something uncanny about Sydney Sweeney’s look at the Vanity Fair Oscars party last night. Last week, Sweeney made her “Saturday Night Live” hosting debut with a string of jokes centered around her sexualized typecasting, rumors of affairs with co-stars and the size of her chest. Were Sweeney’s breasts, as one writer for Canada’s National Post put it, “double-D harbingers of the death of woke”? “(But) with Sweeney, what it really comes down to is this: Sex sells.”Since then, it’s been open season for Sydney Sweeney boob jokes, especially in comments under the actor’s Instagram posts. “Leave Sydney Sweeney’s boobs out of this,” wrote The Cut.

Persons: Marilyn Monroe, Sweeney isn’t, — Anna Nicole Smith, Kim Kardashian, Beyoncé, James Franco, Sweeney, Danny Moloshok, ”, “ We’ve, Amy Hamm, it’s, Sydney Sweeney boob, Sweeney’s, Sydney Sweeney, Barbie, Marc Bouwer, Angelina Jolie, Carlo Allegri, —, biopics, Monroe, Billy Wilder's, Emily Ratajkowski, I’ve, she’s Organizations: CNN, YouTube, Canada’s, SNL, Sydney, United, “ Locations: ogling, “

☆ A California man charged with smuggling greenhouse gases hints at the revival of a decades-long black market
▼ + stars: | 2024-03-09 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +8 min

But there's also a blooming black market in greenhouse gases. HFCs are commonly used in refrigerators and air conditioners, but they're also potent greenhouse gases. There's been a thriving black market for climate-altering refrigerant chemicals since the 1990s, at times as lucrative as selling cocaine. KAMIL KRZACZYNSKI/AFP via Getty ImagesThe black market "comes with the territory" of regulation, Doniger said. At the height of the CFC black market, many cars still used those refrigerants for their air conditioners.

Persons: there's, hydrofluorocarbons, they're, Adrees Latif, Michael Hart, Tara McGrath, There's, Hart, Carlo Allegri, David Doniger, HFCs, Avipsa, Victor Molina, KAMIL KRZACZYNSKI, Mahapatra, Doniger Organizations: Service, Department of, Business, Facebook, Department of Justice, Reuters, Natural Resources Defense Council, NASA, Environmental Investigation Agency, Getty, EPA, Department of Homeland Security, Department of Defense, DOJ, US Attorney's, Southern, of, New York Times, CFC Locations: San Diego, Mexico, Port of Miami, Montreal, Elk Grove Village , Illinois, AFP, United States, of California, HFCs, Europe

☆ Early recruitment for investment-banking internships left students scrambling this year. Here are 15 ways to get ahead of the ultra-competitive process.
▼ + stars: | 2024-02-22 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +22 min

But never had one come this early — one year and eight months ahead of said internship’s start date. While it has always been competitive, the investment banking summer internship process has gotten increasingly premature. As a result, wannabe financiers may want to start getting ready for the process as early as their freshman year. The Internship movieNetwork with upperclassmen firstNetworking is one of the most important aspects of getting a competitive investment banking internship. “A lot of kids don't realize they don't want to do it until they’ve done it for 10 weeks after the internship,” Sibley said.

Persons: Steve Sibley, ” Sibley, Goldman Sachs, Sibley, ”, —, they’re, it’s, you’ll, “, ’ inboxes, You’ll, ‘, ’, Goldman, Don’t, Carlo Allegri, don’t, there's, might’ve, “ I’m, Sturti, you’re, It’s, you'll, would've Organizations: Indiana University’s Kelley School of Business, Business, “, Finance, Bank of America, Citi, BI, Investment, Excel, IB, LinkedIn, Goldman, Getty, Lazard, Reuters, I’m Locations: “, New York City, Manhattan, Chicago, Charlotte, Atlanta, Houston, New York

☆ Ben Affleck and Matt Damon have been close since they were kids. Here's a timeline of their decade-spanning friendship.
▼ + stars: | 2024-02-13 | by ( Jessica Booth | ) www.businessinsider.com time to read: +1 min

1980s: Affleck and Damon met as kids after their moms introduced them. Ben Affleck and Matt Damon became friends in the 1980s. Getty / Carlo AllegriAccording to a Parade interview from 2007, Affleck first met Damon in the early 1980s when they were 8 and 10, respectively. None of the other kids knew what it was I did, how it worked, or anything," Affleck told Parade. During an appearance on "Conan" in 2019, Damon said Affleck defending him in a fight when they were young really cemented their friendship.

Persons: Affleck, Damon, Ben Affleck, Matt Damon, Getty, Carlo Allegri, Matt Organizations: Cambridge Rindge Locations: Cambridge , Massachusetts

☆ Martin Scorsese and John Williams just made Oscars history
▼ + stars: | 2024-01-23 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Someone forgot to tell Martin Scorsese and John Williams about the often complained issue of ageism in Hollywood. Composer John Williams became the oldest Oscar nominee on Tuesday at age 91. Carlo Allegri/Getty Images North America/Getty ImagesLegendary composer John Williams’ work on “Indiana Jones and the Dial of Destiny” earned him his 49th Oscar nomination for original score. With a total of 54 career Oscar nominations when including original song, Williams has more Academy Award nominations than any living person. According to the Academy of Motion Picture Arts and Sciences that is responsible for the awards show, the late Walt Disney held the overall record with 59 total Oscar nominations.

Persons: Martin Scorsese, John Williams, Scorsese, John Huston, “, ”, William Wyler, Lily Gladstone, Robert De Niro, Carlo Allegri, John Williams ’, Indiana Jones, Oscar, Williams, Walt Disney Organizations: CNN, North, Getty, Academy of Motion Picture Arts and Sciences, “, Wars Locations: Hollywood, North America

☆ Thomson Reuters Buys Majority Stake in Pagero
▼ + stars: | 2024-01-15 | by ( P.R. Venkat | ) www.wsj.com time to read: 1 min

The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City. Photo: carlo allegri/ReutersThomson Reuters said it has bought a majority stake in the Pagero Group , taking it closer toward full control of the latter. Apart from the key shareholders, including Summa Equity, Pagero’s chief executive Bengt Nilsson, several members of the management team and employees, have sold their stock to the company, Thomson Reuters said Monday.

Persons: carlo allegri, Reuters Thomson, Bengt Nilsson, Thomson Organizations: Thomson Reuters, Reuters, Reuters Thomson Reuters, Pagero, Summa Equity Locations: Manhattan, New York City

☆ Morning Bid: Buoyant markets hold near year's highs
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +5 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. Fed futures markets think a first cut may come as soon as March - with a quarter-point easing by then already two-thirds priced. Two-year Treasury yields hit their lowest since June on Friday and 10-year yields their lowest in three months, although they edged higher on Monday. U.S. crude hit its lowest in two weeks and is tracking year-on-year losses of almost 10%. But that is widening into yearend as peak rate hopes encourage some rotation to smaller cap stocks.

Persons: Carlo Allegri, Mike Dolan, Jerome Powell, Powell, Goldman Sachs, Jan, Fitch, Bitcoin, Christine Lagarde, Joann, Kirsten Donovan Organizations: New York Stock, REUTERS, Federal Reserve, Spelman College, Fed, Tech, HK, Central Bank, Treasury, PMI Reuters Graphics Reuters, Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Europe, Gaza, China, Hong Kong, WuXi, Evergrande, RGC Resources

☆ Bull market in view after S&P 500 hits fresh year-high
▼ + stars: | 2023-12-04 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

A close above 4,796.56 on the S&P 500 would confirm that the index has been in a bull market since bottoming out on Oct. 12, 2022, by one commonly used definition. By that definition, the bear market that began when the S&P 500 hit its previous record on Jan. 3, 2022 was not particularly painful. The S&P 500 closed down 25.4% at its lowest point, making this the fourth shallowest bear market experienced by the index since 1928, according to data from Yardeni Research. Over the last 50 years, the S&P 500 has risen an average of 16% in the three-month period leading up to a bull market. By contrast, the S&P 500 has logged average gains of just 0.2% and 2.0%, in the one-month and three-month period after a bull market is confirmed.

Persons: Carlo Allegri, San Francisco Fed, Saqib Iqbal Ahmed, Ira Iosebashvili, Lisa Shumaker Organizations: St, REUTERS, Yardeni Research, Reuters, San Francisco, Thomson Locations: Manhattan, New York City , New York, U.S

☆ Pfizer drops plan to study twice-daily obesity pill in late-stage studies
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

A person walks past the Pfizer Headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. Pfizer said it would instead focus on a once-daily, modified release version of danuglipron and "gathering the data to understand its potential profile". In the current study of the twice-daily version, Pfizer said the drug, however, met the main goal of reducing weight in adults with obesity and without type 2 diabetes. Pfizer said while the common side effects in the twice-daily version study were mild, it saw high rates of those events in the trial. However, no new safety signals were observed in the study, Pfizer said.

Persons: Carlo Allegri, danuglipron, Eli Lilly's, Mikael Dolsten, Pfizer, Manas Mishra, Michael Erman, Shinjini Organizations: Pfizer, REUTERS, Zepbound, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru, New York

☆ Appetite for stocks drives VIX options as investors guard portfolios
▼ + stars: | 2023-11-30 | by ( Laura Matthews | ) www.reuters.com time to read: +4 min

VIX options contracts averaged nearly 760,000 daily, surpassing the record set in 2017, according to Cboe Global Markets (CBOE.Z), data as of Nov. 27. Such investors are "looking at trading VIX options as a way to potentially monetize their thinking", he said. Reuters GraphicsThe rise in VIX options trading is a change from 2022 when investors were reducing equities exposure and hoarding cash, according to CBOE data. With the VIX averaging 17 this year, VIX options' trading volume as a share of overall options volume is at 1.76%, the highest since 2020 - a much more volatile year when the VIX averaged 29, according to a Reuters analysis based on Trade Alert data. Timing profit-taking on VIX options in an environment where jumps in the volatility index are fleeting can be difficult, said Roni Israelov, chief investment officer at NDVR.

Persons: Carlo Allegri, Mandy Xu, That's, Joe Ferrara, JJ Kinahan, Seth Hickle, Roni Israelov, Laura Matthews, Saqib Iqbal Ahmed, Megan Davies, Chizu Organizations: New York Stock, REUTERS, . Federal, Cboe Global, Gateway Investment Advisers, Reuters, Trade, Thomson Locations: Manhattan, New York City , New York, U.S, Indiana, New York

Rates futures markets are showing cuts being priced as early as May 2024, according to LSEG data. The prospects for rate cuts received a boost on Tuesday after Fed Governor Christopher Waller, deemed a hawk, hinted at lower interest rates in the months ahead if inflation continued to ease. Deutsche Bank economists on Monday projected 175 basis points in Fed rate cuts in 2024, but said that those cuts would come with a mild recession in the first half of next year. “Absent rapid Fed easing, we expect a more challenging macro backdrop for stocks next year,” they wrote in a Wednesday report. Others said investors may be overestimating how quickly the Fed might react to signs of slowing inflation.

Persons: Carlo Allegri, Jack Ablin, ” Ablin, Christopher Waller, ”, Jake Schurmeier, Schurmeier, Thomas Barkin, Charlie McElligott, Michael Green, David Randall, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, Andrea Ricci Organizations: REUTERS, Federal Reserve, Treasury, Cresset, Gross, Harbor, Reuters, Richmond Fed, Nomura Securities, Deutsche Bank, JPMorgan, Management, Thomson Locations: Manhattan, New York City , New York, U.S, stoke, Carolina, New York

☆ Bank of America pays $12 mln fine for misreporting mortgage data
▼ + stars: | 2023-11-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. Bank of America did not admit or deny wrongdoing in accepting the civil fine, which covered alleged conduct between 2016 and 2021. "We will be taking additional steps to ensure that Bank of America stops breaking the law," CFPB Director Rohit Chopra said in a statement, without elaborating. It also said it has improved training to ensure that employees ask mortgage applicants for the data. According to its latest quarterly report, Bank of America's consumer lending business originated $15.5 billion of first mortgages between January and September, down 61% from a year earlier when interest rates were lower.

Persons: Carlo Allegri, Rohit Chopra, Jonathan Stempel, Aurora Ellis Organizations: of America, REUTERS, Bank of America, U.S, Consumer Financial, Bank of, Thomson Locations: Manhattan, New York City , New York, U.S, Charlotte , North Carolina, New York

☆ BMO sees solid US stock gains ahead, S&P 500 ending 2024 at 5,100
▼ + stars: | 2023-11-27 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +2 min

In a market outlook report, BMO Chief Investment Strategist Brian Belski and his team projected the benchmark S&P 500 (.SPX) would end 2024 at 5,100, nearly 12% above Friday's closing level. Investors have various definitions of a bull market, although one common definition requires the S&P 500 to reach a new all-time high to confirm a bull market. Separately on Monday, strategists at Deutsche Bank also forecast the S&P 500 would end 2024 at 5,100. BMO sees S&P 500 earnings rising about 13.6% in 2024, a "significant rebound" from this year. "We also believe that volatility is likely to subside as macro-environment resiliency continues to surprise alongside falling inflation," the BMO strategists said.

Persons: Carlo Allegri, Brian Belski, Lewis Krauskopf, Will Dunham Organizations: REUTERS, BMO Capital Markets, BMO Chief, BMO, Deutsche Bank, Thomson Locations: Manhattan, New York City , New York, U.S

A Tesla sign is pictured outside the Tesla Gigafactory 2 in Buffalo, New York, U.S., February 13, 2022. A National Labor Relations Board (NLRB) regional official on Friday tossed out a complaint filed in February by Workers United, a union seeking to organize workers at Tesla's Buffalo, New York "gigafactory." Workers United claimed that within days of announcing a union campaign earlier this year, Tesla fired dozens of workers from its Autopilot department. Tesla and Workers United did not immediately respond to requests for comment. President Joe Biden said this month that he supported the union's efforts to organize workers at Tesla and Toyota.

Persons: Carlo Allegri, Tesla, Kayla Blado, Blado, Joe Biden, Elon Musk, tweeting, Daniel Wiessner, Aurora Ellis, Alexia Garamfalvi Organizations: REUTERS, Tesla Inc, National Labor Relations Board, Workers United, Workers, United Auto Workers, UAW, Detroit Three, Tesla, Toyota, NLRB, Thomson Locations: Buffalo , New York, U.S, New York, Tesla's Buffalo , New York, Buffalo, Florida, Fremont , California, Albany , New York

☆ Structural demand for US debt strong despite bond market volatility - Moody's
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNov 20 (Reuters) - The structural demand for U.S. debt which underpins the dollar-based global financial system remains strong against the backdrop of recent Treasury market volatility, Moody's Investors Service said on Monday. The firm added U.S. financial regulators have undertaken a series of measures to improve Treasury market resilience and efficiency, and that it expects the market structure will continue to evolve. "Going forward, as the Fed reduces its Treasury holdings, foreign central banks, pension funds, insurance companies and households will be stabilizing factors in the market," Moody's said in a client note. Earlier this month, Moody's lowered its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability. Treasury yields have soared this year on expectations the Federal Reserve will keep monetary policy tight, as well as on U.S.-focused fiscal concerns.

Persons: Carlo Allegri, Moody's, Manya Saini, Shounak Dasgupta Organizations: New York Stock, REUTERS, Moody's Investors, Treasury, Reserve, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Nov 16 (Reuters) - U.S. bank profits are expected to shrink in the coming months, but the industry has regained its footing after the biggest bank failures since the 2008 financial crisis, analysts said. "Nobody wants to own a lot of bank stocks, whether it's large cap, mid cap, ahead of a credit crunch, ahead of a recession." Michaud, CEO of KBW:"There are a lot of healthier banks, I think, that would look to acquire the banks that have low credit performance. Reporting by Lananh Nguyen, Nupur Anand and Pete Schroeder in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Thomas Michaud, Keefe, Erika Najarian, Morgan Stanley, We're, Eugene Ludwig, Ludwig, Mitch Eitel, Sullivan, Cromwell, " Michaud, Lananh Nguyen, Nupur Anand, Pete Schroeder, Mark Potter Organizations: New York Stock, REUTERS, delinquencies, UBS, Ludwig Advisors, Federal Deposit Insurance Corp, Thomson Locations: Manhattan, New York City , New York, U.S, New York

☆ Fed's Williams touts need for more market data transparency
▼ + stars: | 2023-11-16 | by ( Michael S. Derby | ) www.reuters.com time to read: +2 min

“Having access to an abundance of data is a wonderful problem to have,” Williams said. “It’s important that we continue to prioritize transparency and clarity in data, especially financial market data. In separate comments for the conference, Michelle Neal, who leads the bank’s Markets Group, also touted the need for more transparency in the bond market. “I am looking forward to the increased transparency in on-the-run transaction data” industry participants are working toward, Neal said. “Looking further ahead, we should consider whether to take additional steps toward increased transaction transparency across the Treasury universe, especially for the less liquid segments of the Treasury market, such as the off-the-run market, where transparency is currently limited.”Neal noted that the off-the-run section of the Treasury market was where market issues were concentrated in March 2020, as the coronavirus pandemic sent investors thundering toward cash, upending market functioning.

Persons: John Williams, Carlo Allegri, ” Williams, “, Williams, Michelle Neal, Neal, ” Neal, Michael S, Chizu Organizations: Federal Reserve Bank of New, REUTERS, Federal Reserve Bank of New York, Treasury, bank’s Markets, Thomson Locations: Federal Reserve Bank of New York, New York, U.S

☆ TJ Maxx parent lifts annual sales forecast on steady off-price demand
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

A TJ Maxx store logo is pictured on a building in North Miami, Florida March 19, 2016. REUTERS/Carlo Allegri Acquire Licensing RightsNov 15 (Reuters) - TJX Cos (TJX.N) raised its annual sales forecast on Wednesday, boosted by steady demand from budget-conscious customers looking for promotional deals and bargains ahead of the crucial holiday shopping season. The discount store operator now expects full-year 2024 comparable store sales to be up 4% to 5%, from its earlier forecast of 3% to 4%. Reporting by Juby Babu and Granth Vanaik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: TJ, Carlo Allegri, Cos, Juby Babu, Granth, Shailesh Organizations: TJ Maxx, REUTERS, Thomson Locations: North Miami , Florida, Bengaluru

☆ UNICEF chief injured in car accident on way to Gaza, postpones Israel visit
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

UNICEF Executive Director Catherine M. Russell speaks during a meeting of the United Nations Security Council on Threats to International Peace and Security, following Russia's invasion of Ukraine, in New York City, U.S., March 7, 2022. REUTERS/Carlo Allegri/File photo Acquire Licensing RightsUNITED NATIONS, Nov 15 (Reuters) - UNICEF Executive Director Catherine Russell was injured in a car accident in Egypt on Tuesday while traveling to the Gaza Strip and has had to postpone a visit to Israel due to her injuries, a UNICEF spokesperson said on Wednesday. "While en route to Rafah, we believe the car hit or tried to avert a big pothole that made the car go over a deep ditch and flip on the side," said UNICEF head of media Kurtis Cooper, adding that Russell "experienced significant bruising, and is in quite a bit of discomfort, but her injuries are not considered serious." He said Russell continued her visit to Gaza and then doctors determined she required further care, so she postponed the rest of her visit to the region, which included Israel, where she had hoped to meet with families of abducted children. Reporting by Michelle Nichols; editing by Paul GrantOur Standards: The Thomson Reuters Trust Principles.

Persons: Catherine M, Russell, Carlo Allegri, Catherine Russell, Kurtis Cooper, Michelle Nichols, Paul Grant Organizations: UNICEF, United Nations Security, Peace, Security, REUTERS, UNITED NATIONS, Gaza, Thomson Locations: Ukraine, New York City, U.S, Egypt, Israel, Rafah, Gaza

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