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☆ Conflicting economic signals are causing confusion in the bond market
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: +5 min

Bond market investors are having trouble figuring out an economy that looks good from 30,000 feet, but less so closer to the ground. Whether it's payrolls, gross domestic product or retail sales, or a host of other measures, growth looks solid, at the very least. On Wall Street, the general view was of concern: The Beige Book "showed no material improvement in a generally bleak outlook," Citigroup economist Andrew Hollenhorst wrote. However, if growth deteriorates, as the Beige Book indicates it has, that likely would push the Fed towards more reductions. "Despite recent stronger-than-expected data on U.S. employment, retail sales, and consumer inflation, the Fed's latest Beige Book signals a still weakening economy."

Persons: it's, Goldman Sachs, Donald Trump, Goldman, Andrew Hollenhorst, Kathy Bostjancic, Peter Boockvar, Jerome Powell, Nicholas Colas Organizations: Treasury, Federal Reserve, Atlanta Fed, Fed, Citigroup, Nationwide, Bleakley Financial, DataTrek

☆ Israeli politics swirl as Hezbollah conflict ramps up
▼ + stars: | 2024-09-27 | by ( Mick Krever | ) edition.cnn.com time to read: +10 min

“It’ll take him months on end to train for the job,” said Gadi Eisenkot, a highly respected former Israeli military chief and member of the opposition. Policy and domestic politics are impossible to separate in any democracy, but especially in Netanyahu’s Israel – and especially now. Remarkably, Netanyahu held a security consultation on Wednesday but did not invite his defense minister, an Israeli official told CNN. Hezbollah says that it’s attacking Israel in solidarity with the Palestinian people in Gaza; Israel wants to get Hezbollah to stop firing even without a Gaza ceasefire and hostage deal. With both the Philadelphi Corridor and Hezbollah, Netanyahu’s critics have questioned why, if they were so critical, he waited months to raise the stakes over those issues.

Persons: Benjamin Netanyahu, Yoav Gallant, Gideon Sa’ar, “ It’ll, ”, Gadi Eisenkot, –, Gallant, Netanyahu, Israel –, Itamar Ben, Gvir, Ben Gvir, Ben Gvir’s, Abir, ” Eyal Hulata, “, ’, ” Gallant, Baz Ratner, it’s, ” Gilad Malach, Netanyahu’s, ” Malach, Damocles, Sa’ar, Bezalel Smotrich, Ammar Awad, Reuters Eisenkot, I’m, Gallant –, Malach, Michael Shemesh, Kan, ” Shemesh Organizations: Israel CNN, CNN, Reuters, Foundation for Defense of Democracies, IDF, Israel Defense Forces, Israel Democracy Institute, National Security, Finance, General Staff Locations: Tel Aviv, Israel, Lebanon, Gaza, United States, Abir Sultan, ” Lebanon, Egypt, Israeli, New York

Still, the Trump campaign has long worried that Kennedy’s campaign, built on conspiracies and anti-vaccine rhetoric, pulled directly from their side, especially in a handful of key states. Women were more likely to support Kennedy than men, according to a recent Pew Research Center survey, though other polls haven’t shown a meaningful difference. Supporters take a selfie together during a rally for independent presidential candidate Robert F. Kennedy Jr. on May 13, 2024 in Austin, Texas. Independent presidential candidate Robert F. Kennedy Jr. speaks to the media at a Cesar Chavez Day event at Union Station in Los Angeles, California on March 30, 2024. As Kennedy’s campaign picked up support, Trump labeled the former Democrat a member of the “radical left” and attacked his environmental activism.

Persons: Robert F, Kennedy Jr, Kennedy, “, ”, Trump, Donald Trump, Kamala Harris, It’s, Vermont Sen, Bernie Sanders ’, Donald Trump Jr, ” Trump, Ramsey Reid, ’, ” Reid, Harris, who’s, ” Harris, Michael Tyler, Biden, Scott Eisen, Trump Kennedy, Joe Biden, John F, Kennedy –, Chris LaCivita, LaCivita, Timothy Mellon, Sergio Flores, Don Jr, Roger Stone, Privately, Kennedy’s, Bobby Kennedy III, Nicole Shanahan, Tucker Carlson –, Omeed Malik, ” Kennedy, Cesar Chavez, Mario Tama, Shanahan, ” Shanahan, Kristen Holmes, Kate Sullivan, Ethan Cohen Organizations: CNN, Democratic, CBS, Republican, Pew Research Center, Fox News, Democratic National Committee, RFK Jr, Biden, Convention, Trump, Democrats, Electoral, DNC, Clear Choice PAC, Getty, Kennedy, Trump Jr, Union Station, White, Republican National Convention Locations: Arizona, Vermont, Boston , Massachusetts, Michigan, Wisconsin, ”, Pennsylvania, New York, Austin , Texas, AFP, Trump’s, Los Angeles , California, Milwaukee, Harris

☆ The one question on everyone’s mind about interest rates
▼ + stars: | 2024-08-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

That’s precisely why the Fed is poised to cut interest rates in September for the first time since 2020. Therein lies the one question on everyone’s mind: How aggressively will the Fed ultimately cut rates? A high threshold for jumbo rate cutsThe Fed makes its decisions on interest rates consistent with what’s happening in the economy. Fed officials have mostly signaled that they’re finally ready to cut rates, but some have still expressed some hesitance. But, for now, there’s no emergency demanding the Fed cut rates aggressively next month, or any time later in the year.

Persons: Jerome Powell, pare, Price, Powell, “ They’re, ” Tani Fukui, they’re, Raphael Bostic, ” Powell, Ryan Sweet, Sweet, That’s Organizations: Washington CNN, Labor Department, Kansas City Fed, Fed, Traders, MetLife Investment Management, CNN, Atlanta Fed, Citi, Oxford Economics Locations: Unemployment, Jackson Hole , Wyoming

☆ Brands should avoid this popular term. It’s turning off customers
▼ + stars: | 2024-08-10 | by ( Erika Tulfo | ) edition.cnn.com time to read: +4 min

A study published in the Journal of Hospitality Marketing & Management in June found that describing a product as using AI lowers a customer’s intention to buy it. “Way before people even heard about AI, those movies shaped people’s perception of what robots that run by AI can do to humanity,” he said. …and a lack of transparencyAnother part of the equation influencing customers is the perceived risk around AI – particularly with how it handles users’ personal data. This lack of transparency is something that Gursoy warns has the potential to sour customers’ perceptions towards brands they may have already come to trust. “Rather than simply putting ’AI-powered’ or ’run by AI,’ telling people how this can help them will ease the consumer’s fears.”

Persons: ”, Dogan Gursoy, ’, ChatGPT, Gursoy, …, “ Organizations: CNN, of Hospitality Marketing, Management, Taco Bell, Washington State University, “, Google, Hollywood

The state’s GOP Senate candidate, Kari Lake, has long challenged her Democratic competitor, Rep. Ruben Gallego, to take the debate stage. Hobbs still did not agree to the Arizona Clean Elections proposal for a traditional debate, saying Lake would create a "spectacle." Hobbs then participated in a separate Q&A with Arizona PBS, which has no affiliation with Arizona Clean Elections. Given Hobbs’ Q&A was not affiliated with Arizona Clean Elections, the organization’s executive director says Lake’s frustration is misplaced. “Traditionally, for the last, I think, three Senate races, every Senate debate has happened at the Clean Elections debate,” Gallego said last week.

Persons: Donald Trump, Kamala Harris, Kari Lake, Ruben Gallego, Gallego, ”, Lake, “, chuckles, ” Lake, Katie Hobbs, Hobbs, Thomas Collins, Collins, ” Gallego, proclivity, Harris Organizations: PHOENIX, Arizona Senate, GOP Senate, Democratic, Lake, NBC News, GOP, Arizona, Elections, Republican, Arizona Clean, Arizona PBS, Trump Locations: Arizona, Phoenix, Paradise Valley, ’, Gallego

☆ Gen Z wants flavorful drinks. Here’s how Big Beer is trying to attract them
▼ + stars: | 2024-07-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +7 min

That’s a problem for Big Beer, which is dealing with flat sales, declining volume and a fickle generation of younger drinkers who are completely ditching the bottle or preferring anything but a regular beer. It’s a non-carbonated drink because “bloating that may come from carbonation is considered a top barrier” for younger drinkers and the trend of “decarbonizing” drinks is blowing up on the app. Last year, it acquired Blue Run Spirits, a cult favorite high-end bourbon and rye whiskey brand, in light of US spirit sales surpassing beer sales. Its aptly titled “Beyond Beer” category is currently a $1.5 billion part of its global business and is helping attract younger, legally aged drinkers. Despite younger drinkers’ hesitance with buying beer and flat sales, Big Beer companies aren’t facing an existential threat.

Persons: youngs, Gen, NIQ’s Kaleigh Theriault, “, ” Theriault, Gallo, Mark Anthony Brands, Miller, flavorful, TikTok Constellation, Corona, ”, Saúl Trejo, TikTok, Molson Coors, Molson, ” NIQ’s Theriault, Bud Light, seltzer, Jason Lowrie, it’s, Bud, Bud Light Seltzer, Dylan, ’, “ Young, ” Bryan Roth Organizations: New, New York CNN — Beer, CNN, Beverages, Big Beer, Molson Coors Beverage Company, Modelo, Constellation Brands, Anheuser, Busch InBev, TikTok, Corona, Corona Refresca, Molson Coors, Molson, “ Suppliers, Busch, Feel Goods Company Locations: New York, Corona, carbonation

☆ Media giants lean on sports as Hollywood strikes still loom over content slates
▼ + stars: | 2024-05-18 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Media giants relied on sports last year when they had to woo advertisers during the Upfronts meeting week at a time when a Hollywood strike and cost cutting bit into their content and star power. This year, while stars once again graced the stages following the end of the strikes, the presentations still leaned more on sports than scripted shows. The hangover from last year's work pause meant some media companies had fewer series and movies to highlight during their presentations. He noted two key issues for the traditional media companies: the decline of traditional TV and the increasing fees companies have to pay to air live sports. "If you're going to maintain a reduced level of content spending, by definition, that means your entertainment programming has to be reduced," Rogers said.

Persons: Brock Purdy, Tom Rogers, Rogers Organizations: San Francisco 49ers, Kansas City Chiefs0, Las Vegas , Nevada . Media, Hollywood, Disney, Warner Bros, Oorbit Gaming, Entertainment, NBC Cable Locations: Las Vegas , Nevada

☆ A US ally is forging ties with China's air force but probably won't get its J-20 stealth fighter
▼ + stars: | 2024-05-08 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

The UAE is boosting ties with China's air force. Major General Saleh Mohammed bin Mejren Al Ameri, commander of the UAE's Joint Operations, met with the commander of China's People's Liberation Army Air Force on April 23 to promote closer air force cooperation. Another even speculated Abu Dhabi may eventually seek China's premier stealth fighter: the fifth-generation J-20 Mighty Dragon. I don't see this relationship developing into something similar to what the UAE Air Force has with France or even Russia anytime soon." Furthermore, the Emirati air force fighter fleet is already large for such a small country, making it unlikely the L-15s will serve any combat role.

Persons: —, General Saleh Mohammed bin Mejren Al Ameri, China's, Abu Dhabi, Abu, Abu Dhabi's, Ahmed Aboudouh, Aboudouh, Washington's hesitance, Fred Tanneau, Sebastien Roblin, Roblin, haven't, Russia's Su, Robin Organizations: Service, United, Liberation Army Air Force, Dassault Rafales, Chatham House, China Studies Unit, Emirates Policy Center, Rafale, Dassault Aviation, UAE Air Force, UAE, China hasn't, FC, Korea's KF, UAE . The Emirates, KF Locations: UAE, Washington, Beijing, United Arab Emirates, China, United States, Abu Dhabi, UAE's, France, Abu, Russia, Saudi, Pakistan, Ukraine

The 30-minute conversation was the two leaders’ first phone call since an Israeli strike killed seven aid workers from the World Central Kitchen in Gaza. The killings have set off a furor inside the White House and Biden has been described as reaching a new level of frustration with Israel’s campaign. “President Biden emphasized that the strikes on humanitarian workers and the overall humanitarian situation are unacceptable,” the White House said in a statement shortly after the call wrapped. Blinken said Israel should not stoop to the level of Hamas in its response to the group’s October 7 attacks. Blinken acknowledged the World Central Kitchen strike was not the first time Israel has killed aid workers in the conflict.

Persons: Joe Biden, Benjamin Netanyahu, Israel’s, ’, Biden, “, ” Biden, Israel, Antony Blinken, ”, John Kirby, Kirby, Blinken, ” Blinken, haven’t, ” Kirby, Biden’s, Democratic Sen, Chris Coons –, CNN’s Sara Sidner, Netanyahu, Jennifer Hansler, Donald Judd Organizations: Washington CNN, Israeli, National Security, White House, Central Kitchen, Capitol Hill, Democratic, CNN, Israel, Hamas Locations: Gaza, Israel, Brussels, Blinken, United States, Rafah

☆ With a New Holocaust Museum, the Netherlands Faces Its Past
▼ + stars: | 2024-03-05 | by ( Claire Moses | ) www.nytimes.com time to read: +1 min

Three faces stare blankly from sepia-toned passport photos, haphazardly pasted onto a card to an unknown recipient. Under their pictures are the handwritten words: “Don’t forget us!”It’s unclear when this card was sent. But its plea has helped shape the permanent collection at the National Holocaust Museum in Amsterdam, which opens to the public next week. “I think it’s a remnant of a long-felt discomfort in the Netherlands with taking ownership of what happened,” said Emile Schrijver, the general director of the National Holocaust Museum. While other museums in the Netherlands cover aspects of the history of the Holocaust — such as the Anne Frank House, or museums that focus on World War II more broadly — the National Holocaust Museum is the first institution devoted to telling the full story of the persecution of Jews in the Netherlands.

Persons: we’ll, hesitance, ”, Emile Schrijver, Anne Frank House Organizations: National Holocaust Museum Locations: Amsterdam, Netherlands

☆ Haley’s voters might decide Biden’s fate in November. Here’s why.
▼ + stars: | 2024-02-06 | by ( Ron Brownstein | Analysis Ronald Brownstein | ) edition.cnn.com time to read: +17 min

In New Hampshire, more than 4-in-5 Haley voters said Trump would not be fit to serve again if convicted and that Biden had legitimately won. In that poll, two-thirds of Haley voters in Iowa said they would not vote for Trump in a general election; that number soared past three-fourths of her voters in New Hampshire. One key reason: fully 93% of all GOP-leaning voters said they disapproved of Biden’s performance as president. Madrid believes Biden’s record on immigration is the biggest obstacle to him harvesting support among the Republicans uneasy about Trump. Lake doesn’t agree that any single issue is critical for Biden with the kind of GOP voters who have rallied to Haley.

Persons: Nikki Haley’s, Donald Trump, Haley, Biden, Joe Biden, Haley –, Trump, ”, Smith, Michael Madrid, “ Trump, “, SSRS, “ Donald Trump, that’s, Alan Abramowitz, Ron DeSantis, it’s, Democratic pollster, Biden’s, ” Madrid, Haley herself, ” Jennifer Horn, MAGA …, ” Jim McLaughlin, Trump’s, McLaughlin, Bill McInturff –, –, Lake, Jean Carroll, ’, Taylor Swift, Chris Wilson, Republican pollster, Wilson, ” Wilson, Lake doesn’t Organizations: CNN, South Carolina Republican, Trump, White, GOP, Republican, Democratic, Trump Lincoln Project, Washington Post, University of Maryland, Capitol, CBS, Republicans, NBC News, Republican Party, South, Emory University, Florida Gov, Edison Research, Haley Iowa, Monmouth University, ”, Biden, New Hampshire Republican, NBC, AP Locations: Iowa, New Hampshire, California, Madrid, Washington, South Carolina, ” Madrid, McInturff, Lake, Trump

☆ Covid Vaccine Hesitancy Took Off This Winter. Can We Fix It? - The New York Times
▼ + stars: | 2024-01-27 | by ( Danielle Ofri | ) www.nytimes.com time to read: +2 min

“It’s time for the flu shot,” I’ll say to my patients, “plus the updated Covid vaccine.” And that’s when the groans start. In the past, the flu shot elicited the most resistance. Health professionals everywhere are hearing this kind of hesitance among patients as Covid cases and hospitalizations have continued to rise during the winter. As of early January, the average number of Americans dying weekly from Covid was over 1,700. And yet, the Jan. 19 Centers for Disease Control and Prevention report indicated that only 21.8 percent of adults 18 and older have received the latest Covid vaccine — less than half of the percentage of those who have gotten the flu vaccine.

Persons: “, ”, Fine, There’s Organizations: New, for Disease Control Locations: New York City, Covid

☆ Need to see more fear in markets before attacking 9-12 months of gains: Cannacord Genuity's Dwyer
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNeed to see more fear in markets before attacking 9-12 months of gains: Cannacord Genuity's DwyerTony Dwyer, Canaccord Genuity chief market strategist, joins 'Squawk on the Street' to discuss what Dwyer makes of the last push on the S&P 500, Dwyer's hesitance to make a bold call for the Federal Reserve, and more.

Persons: Cannacord Genuity's Dwyer Tony Dwyer, Canaccord, Dwyer, Dwyer's hesitance Organizations: Federal Reserve

☆ As shutdown looms, US House Republicans search for stopgap solution
▼ + stars: | 2023-11-07 | by ( David Morgan | ) www.reuters.com time to read: +4 min

House Speaker Mike Johnson, the top Republican in Congress, described the closed-door debate as "positive." House Republicans are focused on passing full-year appropriations bills for transportation, housing, urban development and financial services. The chamber has passed seven partisan Republican bills of the 12 spending measures needed. "What we need is bipartisan solutions," Representative Pete Aguilar, chair of the House Democratic conference, told reporters. Another option on the House Republican table would be to negotiate with the Democratic-led Senate on a "clean" CR that can pass both chambers quickly.

Persons: Mike Johnson, Nathan Howard, Everybody's, Brian Babin, Johnson, Dusty Johnson, Pete Aguilar, Eli Crane, Crane, Mike Garcia, David Morgan, Scott Malone, Stephen Coates, Leslie Adler Organizations: Republican, U.S, Capitol, REUTERS, Rights, . House, Democratic, Republicans, Democrats, Internal Revenue Service, House Democratic, Social Security, Thomson Locations: Washington , U.S, Israel, Ukraine, Mexico

Ron DeSantis, Florida’s most prominent politicians, have circled each other on the campaign trail, with Mr. Trump consistently ridiculing Mr. DeSantis and the governor only recently beginning to fire back. It was the rare occasion where Mr. Trump and Mr. DeSantis were set to share the same stage, albeit hours apart. Yet Mr. DeSantis, who faces a vast polling gap behind Mr. Trump, did not directly attack the former president, whose manhood he questioned this week. Even as the rivalry between Mr. Trump and Mr. DeSantis has defined the presidential primary contest for months, the former president’s grip on the party has not loosened. Mr. DeSantis, long considered his foremost challenger, has been losing ground.

Persons: Donald J, Ron DeSantis, Trump, DeSantis Organizations: Trump, Gov, Mr, Florida Freedom, Republican Locations: Florida, Kissimmee

☆ While Fewer Americans Have High Cholesterol, Too Many Still Do
▼ + stars: | 2023-11-01 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +5 min

By Cara Murez HealthDay Reporter(HealthDay)WEDNESDAY, Nov. 1, 2023 (HealthDay News) -- Despite progress in recent decades, too many Americans still have dangerously high LDL cholesterol levels, and about a quarter don't even know it, new research finds. Of course, you can only start treatment for high cholesterol if you know your cholesterol numbers are high. “That's why it's absolutely imperative that everybody should get their cholesterol checked and they should know their numbers,” Virani said. Being unaware and untreated for high cholesterol disproportionately affected Black, Hispanic and poorer people. “Clinicians have a lot of options to treat these patients and make sure that both their quality and quantity of life is not compromised just because of these high LDL cholesterol levels,” Virani said.

Persons: Cara Murez HealthDay, ”, Dr, Salim Virani, ” Virani, there's, It’s, Virani, Janet Wei, Wei, it’s, ” Wei Organizations: Research, Aga Khan University, . National Health, Heart, U.S . Centers for Disease Control, Graduate Studies, Smidt Heart Institute, JAMA Locations: Karachi, Pakistan, U.S, Cedars, Sinai, Los Angeles

☆ Bad news for commercial real estate: Architects report a big drop in business
▼ + stars: | 2023-10-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Architecture firms reported a sharp drop in business in September, indicating that the commercial real estate market could see even more pain in the next year. The index is a forward-looking indicator of demand for non-residential construction activity, both commercial and industrial buildings. Commercial real estate has been hit with a double whammy. Among real estate sectors, firms with a multi-family residential focus saw more of a decline. Multi-family construction boomed over the last few years, with a record number of units now flooding the market and putting pressure on rents.

Persons: Kermit Baker, bode, Peter Boockvar Organizations: AIA, Billings, Bleakley Financial Locations: billings

Here, workers in black uniforms churn out a brand-new electric scooter every 90 seconds, while executives review the company’s skyrocketing sales. Mehta is the 33-year-old CEO of Ather Energy, an electric scooter manufacturer that has enjoyed a recent explosion of demand. “That’s an incredible jump.”The push has been fueled by strong state support, particularly through a policy known as “FAME,” or the Faster Adoption and Manufacturing of Electric Vehicles. Electric two-wheelers on display at the Hero Electric Vehicles headquarters in Gurgaon, India, in 2021. BluSmart is an Indian ride-hailing startup that uses an all-electric fleet, relying heavily on charging infrastructure.

Persons: Tarun Mehta, Mehta, ” Mehta, pedaling, MotoCorp, ”, Brajesh Chhibber, “, Bain, That’s, Anindito Mukherjee, Anmol Singh Jaggi, Fadnavis, Chhibber, ” Chhibber, Jaggi Organizations: India CNN —, Ather Energy, “, CNN, McKinsey, Manufacturing of Electric Vehicles, EV, Economic, Ministry of Heavy Industries, Hero Electric Vehicles, Bloomberg, Getty, ” Locations: Hosur, India, Indian, Bangalore, New Delhi, Delhi, Gurgaon, Gurugram

☆ The US is quietly warning its Middle East partners about the cost of stocking up on Chinese-made weapons
▼ + stars: | 2023-08-17 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

Chinese arms sales in the Middle East have increased by 80% over the past decade, a result of Beijing's expanding relationships there and its willingness to deliver arms faster and with fewer stipulations than Washington. FAYEZ NURELDINE/AFP via Getty ImagesMiddle Eastern countries, led by the Arab Gulf states, have for decades been major buyers of US-made weapons. Chinese arms sales to the region are "substantial and expected to continue to increase," said Ahmed Aboudouh, an associate fellow at Chatham House. "But it's just one factor among many, including varying threat perceptions of Iran among the Arab Gulf states as well as varying levels of trust between the Arab Gulf governments themselves." Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history.

Persons: Michael Kurilla, Kurilla, Loong, KARIM SAHIB, Colin Kahl, Biden, Kahl, We're, FAYEZ NURELDINE, Ahmed Aboudouh, Aboudouh, James Hodgman, Russia's, ANDREW CABALLERO, REYNOLDS, Emily Hawthorne, RANE, that's, Hawthorne, Abu Dhabi, Mohammed bin Zayed, Xi, ANDY WONG, Kahl's, Paul Iddon Organizations: Service, US Central Command, Senate Armed Services Committee, Dubai Airshow, Getty, Chatham House, Pentagon, Getty Images, United Arab Emirates, Patriot, Al Udeid, Base, US Air Force, Tech, Air Defense, Turkey, NATO, East, Khalifa, UAE, US, Abu Dhabi Crown, Gulf Cooperation Council Locations: China, Washington, Wall, Silicon, Beijing, AFP, British, Saudi, Riyadh, Saudi Arabia, Abu Dhabi, East, North Africa, Qatar, Russia, Europe, Gulf, UAE, Yemen, Ankara, Turkey, Prince, Xinhua, Khalifa, Abu, Arab Gulf, Iran

☆ China's sagging economy looms over quarterly results around the world
▼ + stars: | 2023-07-20 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

July 20 (Reuters) - China's frail growth could weigh on companies with exposure to the world's second-largest economy, including Apple (AAPL.O), big chipmakers and luxury retailers as they report quarterly results in the next few weeks. China accounted for 36% of NXP's revenue last year and half of Texas Instruments' revenue. Analysts estimate NXP reporting a 3.2% drop in quarterly revenue, with Texas Instruments' revenue tumbling 16%, which would be its steepest drop since 2009, according to Refinitiv. The specialty glass maker blamed "anticipated recession-level demand" for weak results in its previous quarterly report last April. Coffee maker Starbucks (SBUX.O) in May reported quarterly results that beat estimates, powered by recovering demand in China.

Persons: Ross Mayfield, Baird, Cartier, Richemont, Bernstein, Tesla, Jonathan Golub, hobble, David Klink, Noel Randewich, Chavi Mehta, Caroline Valetkovitch, Mimosa Spencer, David Gaffen, Nick Zieminski Organizations: Apple, U.S, Shanghai, ABB, HK, NXP Semiconductors, Texas, Texas Instruments, . Credit Suisse Chief, Equity, Corning Inc, Samsung Electronics, Huntington Private Bank, Reuters, Thomson Locations: China, U.S, Swiss, Asia, ., China . U.S, Washington, Beijing, Oakland , California, Bangalore, New York, Paris

[1/5] A worker sweeps a street in the Central Business District on a rainy day in Beijing, China, July 12, 2023. REUTERS/Thomas PeterBEIJING, July 18 (Reuters) - China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich. He expects growth to slow to 3%, which "will feel like an economic recession" when youth unemployment is already above 20%. The April-June data puts 2023 growth on track for roughly 5%, with slower rates thereafter. But China's annual growth averaged around 7% last decade, and more than 10% in the 2000s.

Persons: Thomas Peter BEIJING, Desmond Lachman, year's, Wang Jun, Zheng Shanjie, Zheng, Richard Koo, Juan Orts, Xi Jinping's, Zhao, Cai Fang, Zhu Ning, Koo, Liangping Gao, Ellen Zhang, Ziyi Tang, Kevin Yao, Joe Cash, Marius Zaharia, David Crawshaw Organizations: Central Business District, REUTERS, American Enterprise Institute, Reuters, Communist, Huatai Asset Management, Reform Commission, Overseas, Nomura Research Institute, Fathom Consulting, Shanghai Advanced Institute of Finance, Thomson Locations: Beijing, China, Japan, United States, Young, Africa, Latin, U.S, Central

☆ Fed sees more rate hikes ahead, but at a slower pace, meeting minutes show
▼ + stars: | 2023-07-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Almost all Federal Reserve officials at their June meeting indicated further tightening is likely, if at a slower pace than the rapid-fire rate increases that had characterized monetary policy since early 2022, according to minutes released Wednesday. Policymakers decided against a rate rise amid concerns over economic growth, even though most members think further hikes are on the way. Citing the lagged impact of policy and other concerns, they saw room to skip the June meeting after enacting 10 straight rate increases. Most recently, the Fed's preferred inflation gauge saw just a 0.3% increase in May, though it was still reflecting a 4.6% annual rate. Fed officials have stressed the importance of reducing that disparity as they look to tamp down the demand that pushed inflation higher.

Persons: hesitance, firming, Jerome Powell, Raphael Bostic Organizations: Federal Reserve, Market, Market Committee, Fed

☆ Everyone wants to know when consumer demand is going to come back for real. Here's what FedEx execs are watching.
▼ + stars: | 2023-06-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

FedEx's massive overhaul is showing early signs of success but package volumes are still down. For the year ahead, FedEx expects moderate revenue growth of between 1% and 3% year over year. FedEx is expecting package volumes to finally bounce back after five straight quarters of declines. FedEx's guidance for the next 12 months includes moderate revenue growth, somewhere between 1% and 3% year over year. "Green shoots," or signs of potential revenue growth, are beginning to show in Europe however, she said.

Persons: We're, Raj Subramanian, Morgan Stanley, Brie Carere, Carere, hasn't, Jason Furman, Mike Lenz, Subramanian Organizations: FedEx, Tuesday, Target, Harvard Locations: Europe, North America, Trans

Bud Light trailed with a 7.3% share. Bud Light sales fell 24.6% in the period year over year, while Modelo sales jumped 10.2%, the data shows. Still, the Anheuser-Busch InBev brand Bud Light leads U.S. beer sales so far this year, according to Bump Williams. The company's shares have dropped nearly 15% since the start of April, when Mulvaney posted a video of a personalized Bud Light can, which sparked anti-LGBTQ+ outrage. The boycott against Bud Light comes as state and federal politicians increasingly push to claw back the rights of trans people.

Persons: Bud Light, influencer Dylan Mulvaney, Bump Williams, Mulvaney, Brendan Whitworth Organizations: Modelo, Constellation Brands, Anheuser, Busch InBev, Bud, Busch, Pride, Starbucks, Target Locations: Brooklyn Borough, New York, U.S

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