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☆ UK inflation rose to 2.2% in July, after two months at the Bank of England's 2% target
▼ + stars: | 2024-08-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

U.K. inflation rose to 2.2% in July, coming in slightly below expectations but inching back above the Bank of England's 2% target, data from the Office for National Statistics showed Wednesday. The headline inflation had come in at 2% in both May and June, in line with the Bank of England's target rate. So-called core-CPI — which excludes food, energy, alcohol and tobacco prices — came in at 3.3% in July, down from the 3.5% print of July, the statistics office said. The data comes after the Bank of England earlier this month cut interest rates for the first time in over four years, taking the key bank rate to 5%. Uncertainty remains about when the central bank will cut rates again, and whether another cut will even take place this year.

Persons: BOE Organizations: Bank of England's, Office, National Statistics, Reuters, Bank of, Bank of England

☆ Russia orders more evacuations as Ukraine’s incursion into its territory enters its seventh day
▼ + stars: | 2024-08-12 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +4 min

CNN —Russian authorities were on Monday evacuating civilians from more areas along the Ukrainian border, a week into Kyiv’s surprise cross-border incursion into Russian territory. Vyacheslav Gladkov, the governor of the Belgorod region in southern Russia, said people living in the Krasnoyaruzhsky district were being relocated to safer places. A photo provided by the Government of Kursk region of Russia shows people from the border districts of the region boarding evacuation buses. Russian authorities imposed a sweeping counter-terror operation in the three border regions, but stopped short of declaring the incursion an act of war. The counterterrorist regime officially gives Russian authorities wider powers, including the ability to monitor telephone conversations and restrict communications and limiting the movement of people.

Persons: Vyacheslav Gladkov, ”, Rybar, “, Volodymyr Zelensky, Vladimir Putin Organizations: CNN, Telegram, Government, Government of, Ukrainian, Kyiv, Armed Forces, Ukrainian Defense Ministry, Kremlin Locations: Ukrainian, Belgorod, Russia, Krasnoyaruzhsky, Kursk, Government of Kursk, Russian, Ukraine, Poroz, Moscow, US

☆ Yen dives as BOJ plays down chance of hikes, soothing markets
▼ + stars: | 2024-08-07 | by ( ) www.cnbc.com time to read: +2 min

A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. The yen dropped on Wednesday after an influential Bank of Japan official played down the chances of a near-term rate hike, soothing investors' concerns that a further jump in the Japanese currency could again rock global markets. The yen fell around 2.5% to a session low of 147.94 per dollar following the comments from BOJ Deputy Governor Shinichi Uchida. "I think it's become increasingly clear that the BOJ hawkish turn last week could be a policy error," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets. The yen's decline was broad based, with the Mexican peso, New Zealand dollar and Australian dollar - all carry trade candidates - surging against the currency.

Persons: Shinichi Uchida, Uchida, Kazuo Ueda's hawkish, it's, Alvin Tan, inching, Rong Ren Goh Organizations: Bank of Japan, Asia FX, RBC Capital Markets, U.S, Eastspring Investments, New Zealand Locations: U.S, Tokyo, Japan, Asia

☆ Japan stocks plunge as much as 7%, hovering near bear market territory, as Asia shares extend sell-off
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +2 min

Japan’s markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Monday’s decline follows Friday’s rout when Japan’s Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Nasdaq was the first of the three major benchmarks to enter correction territory, down more than 10% from its record high.

Persons: Topix, “, Australia’s, Kospi Organizations: Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, Reserve Bank of Australia, Reuters, CSI, Nasdaq, Dow, Dow Jones Locations: Asia, Pacific, China, Taiwan, Australia, India, U.S

☆ Brent tops $80 per barrel as oil analyst flags ‘phase of deterioration’ in the Middle East
▼ + stars: | 2024-07-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Brent futures topped the $80-per-barrel-threshold on Wednesday, as Iran's claim that Hamas political leader Ismail Haniyeh was assassinated reignited tensions in the Middle East. The Ice Brent contract with September expiry were trading at $80.32 per barrel at 09:45 a.m. London time, up by 2.15% from the Tuesday close price. Oil gained ground amid exacerbated hostilities in the oil-rich Middle East region, where Israel has been fighting Iran-backed Palestinian militant group Hamas since the latter's terror attack in October. The Jewish state's decision to carry out a retaliatory campaign in the Gaza Strip has since broadened the conflict, with Israel trading fire with other Iran-supported factions, such as Lebanon's Hezbollah and Yemen's Houthi. "But now we're moving into a phase of deterioration into the Middle East that we believe is going to capture oil traders' attention and get them to return some material risk premium into the price of Brent.

Persons: Brent, Ismail Haniyeh, Ice Brent, Yemen's, Israel, Ayatollah Ali Khamenei, Clay Seigle, Emily Tan Organizations: Ice, Hamas, Revolutionary Guard, Republic News Agency, CNBC, Israeli Ministry of Foreign Affairs, Minister's Office, Rapidan Energy Group Locations: London, Israel, Iran, Gaza, Tehran, Iran's, Ukraine, Brent

☆ U.S. women’s rugby wins first Olympic medal with thrilling last-second try
▼ + stars: | 2024-07-30 | by ( Matthew Futterman | ) www.nytimes.com time to read: +1 min

SAINT-DENIS, France — With a 90-yard run as the final seconds ticked off the clock, Alex Sedrick and Team USA’s women’s Eagles rugby team snatched the bronze medal off the necks of a heavily-favored Australian team to deliver America its first Olympic medal in rugby sevens. Then the green and gold pinned the Americans deep in their own end, inching them backward as the final seconds ticked off the clock. AdvertisementBut then Sedrick got possession in the middle of the field and burst through a hole in the Aussie defense. In an instant, Sedrick was off on 90-yard sprint down the grass, that finished with her running through the uprights. But in a game with just 14 players on a massive field, anything can happen, and in the final seconds against the Aussies, Sedrick made sure it did.

Persons: DENIS, Alex Sedrick, USA’s, Sedrick, Michael Steele Organizations: USA’s women’s Eagles rugby, Eagles, Australians, Aussie, Zealand Locations: France

☆ Russia creeps toward key eastern Ukrainian supply city
▼ + stars: | 2024-07-30 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +4 min

CNN —Russian forces are inching toward the strategically important city of Pokrovsk in eastern Ukraine, threatening a vital Ukrainian supply line as Moscow continues its slow, grinding offensive. Russia has been stretching Ukrainian defenses across the entire eastern front line for months, trying to capture as much territory as possible before new Ukrainian recruits and fresh batches of Western weapons start arriving on the battlefield. Ukrainian President Volodymyr Zelensky acknowledged the difficult situation in his nightly address to the nation on Sunday, saying Ukrainian troops were facing “extremely challenging” realities in that area. But it serves as a key hub for the Ukrainian military, thanks to its easy access to Kostiantynivka, another military center. The Russian Defense Ministry said its forces captured the Ukrainian villages of Lozuvatske over the weekend and Vovche on Monday.

Persons: Volodymyr Zelensky, ” Zelensky, Vladimir Putin, Anatolii Stepanov, Svitlana Vlasova, Eve Brennan Organizations: CNN, Russian Defense Ministry, Ukrainian Armed Forces, Residents, Getty Locations: Pokrovsk, Ukraine, Moscow, Russia, United States, Avdiivka, Dnipro, Luhansk, Donetsk, Kostiantynivka, Lozuvatske, Kyiv, AFP

☆ Interest rate cuts probably aren't here just yet, but they could finally reach Americans in under 2 months
▼ + stars: | 2024-07-30 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

It's safe to say that Americans can count on an interest rate cut pretty soon, but probably not this week. On Wednesday, the Federal Open Market Committee will announce its next interest rate decision, and it's once again expected to hold rates steady. However, the FOMC's September meeting could finally bring Americans the relief they've been waiting for — CME FedWatch showed markets think it's all but certain the Fed will cut rates that month. Lower interest rates would make borrowing more affordable for consumers and businesses alike. "You have kept interest rates too high for too long: it is time to cut rates," they wrote.

Persons: it's, Claudia Sahm, Greg McBride, There's, Jerome Powell, Powell, Sahm, Matt Colyar, September's, Elizabeth Warren, Jacky Rosen, John Hickenlooper Organizations: Service, Federal, CME FedWatch, Business, New Century Advisors, Fed, Banking, Housing, Urban Affairs, Democratic, Moody's

☆ Inflation is inching closer toward the Fed’s 2% target
▼ + stars: | 2024-07-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —Yet another favorable piece of economic data shows that price hikes are slowing and that long-unruly inflation appears to be tamed. On a monthly basis, the price index increased by 0.1%, also landing in line with expectations. Falling energy prices, which dropped 2.1% from May, continued to help put a damper on overall inflation in June, as did goods prices, which dropped 0.2%. Food and services inflation increased just 0.1% and 0.2%, respectively, for the month. Taking inflation out of the equation, real spending was still up for the month, rising 0.2%.

Organizations: CNN, Federal Reserve, Commerce Department, Commerce

☆ Swimming at the 2024 Paris Olympics: U.S. hopes, schedule and how to watch
▼ + stars: | 2024-07-22 | by ( Zack Pierce | ) www.nytimes.com time to read: +8 min

ET) W 100m fly W 100m fly semis (2:30 p.m.) W 400m free M 400m free (2:42 p.m.) M 100m breast W 400m free (2:52 p.m.) M 400m free M 100m breast semis (3:12 p.m.) W 4x100m free W 4x100m free (3:34 p.m.) M 4x100m free M 4x100m free (3:44 p.m.) July 28 Heats Semis/finals (approx. ET) M 200m free M 400 IM (2:30 p.m.) M 400m IM W 100m fly (2:40 p.m.) W 100m breast M 200m free semis (2:46 p.m.) M 100m back W 100m breast semis (3:10 p.m.) W 200m free M 100m back semis (3:32 p.m.) M 100m breast (3:44 p.m.) W 200m free semis (3:50 p.m.) July 29 Heats Semis/finals (approx. ET) M 200m fly M 100m free semis (2:30 p.m.) M 100m free M 200m fly semis (2:42 p.m.) W 1,500m free W 100m back (2:56 p.m.) W 100m free M 800m free (3:02 p.m.) M 200m breast W 100m free semis (3:25 p.m.) M 4x200m free M 200m breast semis (3:47 p.m.) M 4x200m free (4:01 p.m.) July 31 Heats Semis/finals (approx. ET) W 200m breast W 100m free (2:30 p.m.) M 200m back M 200m fly (2:36 p.m.) W 200m fly W 200m fly semis (2:43 p.m.) W 1,500m free (3:07 p.m.) M 200m back semis (3:37 p.m.) W 200m breast semis (3:51 p.m.) M 200m breast (4:15 p.m.) M 100m free (4:22 p.m.) Aug. 1 Heats Semis/finals (approx. ET) M 100m fly M 50m free (2:30 p.m.) W 200m IM W 200m back (2:30 p.m.) W 800m free M 200m IM (2:43 p.m.) Mixed 4x100m medley M 100m fly semis (3 p.m.) W 200m IM semis (3:22 p.m.) Aug. 3 Heats Semis/finals (approx.

Persons: Katie Ledecky, Caeleb Dressel, Dressel, Regan Smith, Gretchen Walsh, Kate Douglass, Lilly King, Simone Manuel, Torri Huske, Alex Walsh, Katie Grimes, Grimes, Bobby Finke, Chase, Ryan Murphy, Kieran Smith, Thomas Heilman, Chris Guiliano, There’s, Ariarne, Summer McIntosh, Ledecky, McIntosh, Titmus, Erika Fairweather, Fairweather, swimming’s, Maddie Meyer Organizations: U.S ., Olympic, Paris La Défense, NBC, Telemundo, Universo, USA, U.S, Ledecky, Notre Dame, didn’t, June’s U.S Locations: Paris, Tokyo, USA, Chase Kalisz, East Germany, Ledecky

☆ Lower interest rates could be coming soon. Here's what's at stake if they aren't.
▼ + stars: | 2024-07-17 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

At the end of July, the Federal Open Market Committee will announce its next decision on interest rates. Some economists have recently been pointing to similar concerns with the Fed keeping interest rates high. As Sahm pointed out, it would take time for reduced interest rates to "flow through to the economy." "You want to begin a process of taking the pressure off of the economy," Sahm said. AdvertisementZandi said interest rates on credit cards and Buy Now, Pay Later rates could come down, along with a decline in auto lending rates and mortgage rates.

Persons: —, Mark Zandi, Jerome Powell, Powell, Claudia Sahm, it's, Sahm, Sen, Elizabeth Warren, Brian Rose, Rose, Zandi, Austan Goolsbee, Goolsbee Organizations: Service, Moody's, Business, Federal, CME FedWatch, Fed, Banking, Housing, Urban Affairs, Sahm Consulting, Federal Reserve, Democratic, UBS, Chicago Federal, Wall Street Journal

CNN —Special counsel Jack Smith said Wednesday that he is appealing a judge’s decision to throw out the indictment against Donald Trump concerning his handling of classified documents. This means the shock ruling would be reviewed by judges from the 11th US Circuit Court of Appeals based in Atlanta. Cannon in her ruling on Monday had said that Smith’s appointment as special counsel was unconstitutional, warranting the dismissal of the case against Trump. Her decision was at odds with the rulings of judges across the country that rejected attacks on the legality of special counsel appointments. Absent a move to speed the appeal in the Trump documents case, it will likely take several months for the appeal to play out in the Atlanta-based appeals court.

Persons: Jack Smith, Donald Trump, Aileen Cannon, Cannon, Trump, Mark Meadows, George W, Bush, Smith, Walt Nauta, Carlos De Oliveira —, Merrick Garland, Smith —, Clarence Thomas, Thomas Organizations: CNN, Trump, FBI, Trump White House, Justice Department, Supreme, Circuit Locations: Atlanta, Mar, Lago, Georgia, Fort Pierce , Florida, Washington ,, Florida , Alabama

☆ Rising seas wiped out an entire US species for the first time. Scientists say it’s a sign of things to come
▼ + stars: | 2024-07-14 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +5 min

CNN —A unique plant has become the first species in the United States to be exterminated from the wild by the compounding effects of rising seas, scientists say. The Key Largo tree cactus still exists in parts of the Caribbean, including Cuba, Puerto Rico and the Bahamas, but the chances of it re-establishing naturally in the Florida Keys is basically “zero,” Gann said. The plant’s habitat was being swamped by saltwater from storms and high tides worsened by the rising sea. Sea levels around the Florida Keys have been rising by around an average 0.16 inches a year, or just over 8 inches since 1971, the researchers reported. Possley said more than 1-in-4 native plant species are critically threatened with regional extinction in South Florida.

Persons: ”, George Gann, ” Gann, ” James Lange, Jennifer Possley, Possley, smallfruit varnishleaf, Jennifer Organizations: CNN, Botanical Research Institute of Texas, Institute for Regional Conservation, Botanic, ” Staff, Fairchild, Florida Department of Environmental Locations: United States, Florida, Caribbean, Cuba , Puerto Rico, Bahamas, Reef, South Florida

☆ OpenAI is reportedly nearing AI systems that can reason. Here's why that could be a cause for concern.
▼ + stars: | 2024-07-12 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

The scale ranked AI systems by levels of intelligence, from chatbots at level one, to AI systems that could do the work of entire organizations at level five. Execs reportedly told staffers they believed OpenAI was at level one, defined as AI with conversational language skills, but was nearing level two, identified as "reasoners" with human-level problem-solving. Burden added developing AI systems to this level runs the risk of the machines "reasoning past us," something that could have consequences for the workforce. An OpenAI representative told Bloomberg the scale also included "Agent" and "Innovator" levels, which classified AI systems by their ability to take action and aid in invention. "We've got AI systems that appear to do a tiny bit of reasoning, but it's not clear if it's just a mirage."

Persons: —, ChatGPT, Execs, OpenAI, Sam Altman, Altman, John Burden, Burden, they're, we're, We've, It's, Hannah Kirk Organizations: Service, Bloomberg, Business, University of Cambridge's, of Intelligence, University of Oxford Locations: chatbots

☆ Stock futures are flat Thursday after S&P 500 suffers worst day since April: Live updates
▼ + stars: | 2024-07-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Thursday night after the S&P 500 had its worst session since April, dragged lower by investors' rotation out of mega-cap tech stocks. S&P 500 futures were marginally higher. Futures linked to the Dow Jones Industrial Average were up by around 0.1%, while Nasdaq 100 futures traded near the flatline. Investors sold their Big Tech winners, pushing Nvidia lower by 5.6% and leading to a 4.1% decline for Meta Platforms . The S&P 500 is up 0.3% through Thursday's close, while the Nasdaq is down nearly 0.4%.

Persons: Dow, Russell, Warren, We've, Wells Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Investors, Big Tech, Meta, Traders, Federal, 3Fourteen, JPMorgan Chase, Citigroup, University of Michigan Locations: Thursday's, Wells Fargo

☆ CNBC Daily Open: Fed's Powell says high rates could hurt growth
▼ + stars: | 2024-07-10 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury note rose even as Powell said progress had been made on inflation. Growth in jeopardyPowell warned that keeping interest rates high for too long could harm economic growth. Mainland China's CSI 300 was little changed as consumer price inflation rose less than expected and producer prices fell, raising concerns about deflation in the world's second-biggest economy.

Persons: Inching, Jerome Powell, KeyBanc, Apple, Powell, Joe Biden, NATO's, Putin, Biden, Max Organizations: CNBC, Nasdaq, Nvidia, Dow Jones Industrial, Russia, Patriot, Boeing, China's CSI, Bank of America Locations: intraday, Ukraine, U.S, Germany, Romania, Netherlands, Italy, Asia, China, Pacific, South

☆ CNBC Daily Open: Powell says high rates threaten growth
▼ + stars: | 2024-07-10 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Inching to recordsThe S&P 500 and the Nasdaq Composite inched their way to intraday and record closes as Federal Reserve Chair Jerome Powell warned of the dangers of keeping interest rates high. The yield on the 10-year Treasury note rose even as Powell said progress had been made on inflation. Growth in jeopardyPowell warned that keeping interest rates high for too long could harm economic growth. "Putin wants nothing less — nothing less — than Ukraine's total subjugation, to end Ukraine's democracy," Biden said.

Persons: Inching, Jerome Powell, KeyBanc, Apple, Powell, Joe Biden, NATO's, Putin, Biden, Max, Emmanuel Macron's, Macron, Genuity Organizations: CNBC, Nasdaq, Nvidia, Dow Jones Industrial, Russia, Patriot, Boeing Locations: intraday, Ukraine, U.S, Germany, Romania, Netherlands, Italy, Europe

☆ Stock market today: Indexes poised for another record as traders digest Fed commentary
▼ + stars: | 2024-07-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks climbed higher on Wednesday and were poised to notch another fresh record. Traders were feeling upbeat after Fed Chair Powell delivered slightly dovish guidance on rate cuts before Congress on Tuesday. Investors are pricing in around two rate cuts by the end of the year, though bets on three rate cuts by December rose slightly, according to the CME FedWatch tool. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Wednesday:AdvertisementHere's what else happened today:In commodities, bonds, and crypto:Advertisement

Persons: —, Powell, Hogan, Riley Wealth Organizations: Fed, Service, Traders Locations: Here's

☆ How Emmanuel Macron blew his legacy
▼ + stars: | 2024-07-09 | by ( Joseph Ataman | ) edition.cnn.com time to read: +10 min

He’s now staring at what will certainly be his real legacy: Macron opened the door to the far right in France. After a shattering defeat in May’s European Parliament election, his decision to call a snap election has, at least partially, backfired. Emmanuel Macron delivers a speech at the Louvre Museum in Paris after winning the French presidential election in May 2017. Ukrainian President Volodymyr Zelensky, left, and France's Emmanuel Macron shake hands after a press conference on June 16, 2022 in Kyiv, Ukraine. For countless communities in France - French or immigrant - the legacy of one man’s gamble, and the uncertainty that is his legacy, will exact a far higher price.

Persons: Emmanuel Macron, He’s, Macron, Jacques Witt, France –, –, “, ”, Charly Triballeau, Volodymyr Zelensky, France's Emmanuel Macron, Alexey Furman, he’s, Trump, Putin –, outmanoeuvre Putin, Jordan Bardella, ” Macron, Pen Organizations: Paris CNN, May’s, Front, National Assembly, Macron, Louvre Museum, Getty, “, Putin, NATO, Ukraine, CNN, Ensemble, National Locations: France, Paris, Caen, Normandy, AFP, Europe, Ukraine, Kyiv, lockstep, “

☆ Israel is inching toward a wider war and a nasty fight against an enemy poised to bombard it as no other foe has
▼ + stars: | 2024-07-06 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

AdvertisementFor Israel, a larger war with Hezbollah would look very different from the full-scale conflict it's fighting against Hamas in Gaza. Before the 2006 Lebanon War, a monthlong conflict fought against Israel, Hezbollah maintained some 15,000 projectiles. REUTERS/Avi OhayonBut a larger Hezbollah war could overwhelm some of these systems, a scenario that has caused concern in Washington. During the 2006 war, Hezbollah fired somewhere between 100 and 200 rockets per day at Israel, according to estimates cited by the Foundation for Defense of Democracies think tank. More than two dozen soldiers and civilians have already been killed in Israel, and in Lebanon, that figure has surpassed 450.

Persons: —, Ariel Schalit, Daniel Byman, MAHMOUD ZAYYAT, Avi Ohayon, Stringer, Rami Shlush, Antony Blinken Organizations: Service, Hezbollah, Tehran —, Business, United Nations, Israel, Hamas, AP, Center for Strategic, International Studies, Getty, Institute for National Security Studies, CSIS, REUTERS, Foundation for Defense, Democracies, Israel Communications, Research Center, Congressional Research Service, Institution Locations: Israel, Iran, Lebanon, Tehran, Gaza . The Lebanon, Kiryat Shmona, Gaza, Lebanese, Nabatiyeh, AFP, Israeli, Washington, Khiam, Israel's

☆ Asian shares shaky as investors wary before US inflation data
▼ + stars: | 2024-06-26 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Risk sentiment was also capped as hawkish comments from Federal Reserve officials kept near-term U.S. rate cut expectations in check in a boost to the dollar. The comments along with data showing a stable housing market kept expectations in check over when and by how much the Fed will cut rates. Markets are pricing in 47 basis points of easing this year, with a rate cut in September pegged at 66% probability, CME FedWatch tool showed. In the currency market, the dollar index , which measures the U.S. unit against six peers, was steady at 105.64, while the euro was at $1.0715. The yen touched a 34-year low of 160.245 per dollar on April 29, prompting Tokyo to spend roughly 9.8 trillion in late April and early May to support the currency.

Persons: Androniki, Lisa Cook, Cook, Michelle Bowman, Selena Ling, OCBC, OCBC's Ling, Shri Navaratnam Organizations: Nikkei, REUTERS, Federal Reserve, . Federal, Reuters, Bank of Japan's, Brent, U.S, West Texas, Thomson Locations: Tokyo, Japan, SINGAPORE, U.S, Asia, Pacific

☆ Top private-equity firms, including Apollo and KKR, just kicked off 2026 associate recruiting. Wall Street juniors are shocked and scrambling.
▼ + stars: | 2024-06-25 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

Read previewIn a surprise move that sent shockwaves throughout the junior Wall Street community on Monday, a series of leading private-equity firms kicked off recruiting for lucrative positions that won't start for two more years. The intense rite of passage known as "on-cycle recruiting" left some junior investment bankers scrambling to get in on a flurry of hastily arranged interviews. More than half a dozen industry sources confirmed to Business Insider that associate recruiting started on Monday evening. Last year, some candidates scored offers that surpassed $300,000 in all-in comp (including base salary and bonus), BI previously reported. One person with intimate knowledge of the recruiting process said that other firms that had yet to conduct their own interviews would likely refuse to start recruiting so early.

Persons: —, Clayton, Rice, hadn't, haven't, It's, Reed Alexander Organizations: Service, Wall, Business, Apollo Global Management, KKR, Labor Locations: Dubilier, New York City

☆ The creator of a famed recession indicator says the Fed is 'playing with fire' by not cutting rates now
▼ + stars: | 2024-06-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Read previewThe Federal Reserve's reluctance to lower interest rates in the near term is a risky gamble that could drive the US towards a recession, Claudia Sahm told CNBC. "But it's a real risk, and I do not understand why the Fed is pushing that risk. At current readings, that likely means just one rate cut in 2024, the Fed said. For this reason, Sahm told CNBC that the Fed should start a gradual cutting cycle now, and take the economy off a path that could require more severe action if not addressed. Markets, meanwhile, remain convinced that the Fed will follow with more than just one cut.

Persons: —, Claudia Sahm, I'm, Sahm, Mohamed El Organizations: Service, CNBC, Business

☆ The unemployment rate hit 4% for the first time in 2 years. Here's why economists say you shouldn't worry
▼ + stars: | 2024-06-21 | by ( Genna Contino | ) www.cnbc.com time to read: +1 min

The unemployment rate, which has remained low for two years, has been inching higher in the first half of the year, according to data from the Bureau of Labor Statistics. For the first time since January 2022, the unemployment rate ticked to 4.0% last month, up from 3.9% in April. Even though the employment rate has reached the highest it has been in a couple of years, 4% is still historically low, experts point out. Economists say people shouldn't be too concerned because both the number of jobs and the size of the labor force are growing. May's unemployment rate was impacted heavily by people, particularly those who are between 20 and 24 years old, entering and reentering the workforce, according to Moody's Analytics head labor economist Marisa DiNatale.

Persons: Marisa DiNatale, DiNatale Organizations: Bureau of Labor Statistics, Google

☆ I bought my last Starbucks drink 4 years ago. I pay more for coffee now, but the benefits are worth it.
▼ + stars: | 2024-06-12 | by ( Rachel Chang | ) www.businessinsider.com time to read: +5 min

Constantly searching for new coffee shops has taught me how to better trust my instincts. AdvertisementMany independent coffee shops closed during or shortly after the height of the pandemic. Plus, at local coffee shops, I'm one of few customers instead of one of many in a long line. Sometimes, I still end up at coffee chains — but my self-imposed ban means I'll opt for smaller ones like Blank Street or Gregory's Coffee instead of mega-global franchises. It's just that by quitting, my coffee world has opened up beyond the limitations of one company — and forever hunting for a new coffee shop has become my ultimate pick-me-up.

Persons: —, Rachel Chang, I'd Organizations: Service, Starbucks Locations: Bali, Morocco, Barcelona, Buenos Aires, San Francisco

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