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☆ GQG Partners adds Nvidia, Amazon, Apple in Q2
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. REUTERS/Ann Wang/File PhotoNEW YORK, Aug 11 (Reuters) - Australia-listed investment firm GQG Partners added more shares of Nvidia Corp (NVDA.O) in the second quarter, ending June with $5.9 billion invested in the chipmaker, according to regulatory filings on Friday. Shares in Nvidia are up roughly 180% year to date and reached $1 trillion in market capitalization, amid excitement over advancements in artificial intelligence. GQG held 13.9 million shares of Nvidia at the end of June, or 5.7 million more than it did on March 31. Reporting by Carolina Mandl in New York, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Rajiv Jain, GQG, Carolina Mandl, Deepa Babington Organizations: REUTERS, GQG Partners, Nvidia Corp, Nvidia, Reuters, Amazon.com Inc, Apple Inc, Microsoft Corp, Carolina, Thomson Locations: Taipei, Taiwan, Australia, Fort Lauderdale , Florida, New York

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoAug 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Markets are betting that the Fed's most aggressive rate-hiking campaign in more than 40 years is over. The short end of the bond market was a bit more stable, reflecting the view that the Fed is done raising rates. The dollar is nudging 145.00 yen, around where the Bank of Japan spent record yen-buying sums late last year as the yen hurtled to a 33-year low.

Persons: Yen, Dado Ruvic, Jamie McGeever, Brent, Deepa Babington Organizations: REUTERS, Bank of Japan, Reserve Bank of, Thomson, Reuters Locations: Asia, Reserve Bank of India, India, Hong Kong

Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally in Erie, Pennsylvania, U.S., July 29, 2023. U.S. Special Counsel Jack Smith's office asked a judge in a court filing on Thursday to start the trial on Jan. 2 in part due to the public's interest in a speedy trial. Prosecutors also predicted it will take about four to six weeks to put forward the bulk of their case against Trump at trial. A January trial would have Trump on trial three times in the first half of 2024. Trump also faces a May trial from Smith in southern Florida over the retention of classified documents after leaving office.

Persons: Donald Trump, Lindsay DeDario, Donald Trump's, Democrat Joe Biden, Trump, Jack Smith's, Prosecutors, Tanya Chutkan, Chutkan, Smith, Jacqueline Thomsen, Jasper Ward, David Ljunggren, Scott Malone, Deepa Babington Organizations: U.S, Republican, REUTERS, Democrat, Trump, Thomson Locations: Erie , Pennsylvania, U.S, Washington, New York, Florida

"Our drone base in Niger is extremely important in countering terrorism in the region," one of the U.S. officials said. FOREIGN ASSISTANCEThe Biden administration has not formally labeled the military takeover in Niger a coup, a designation that would limit what security assistance Washington can provide the country. The U.S. drone base has grown in importance due to a lack of Western security partners in the region. The drone base, known as airbase 201, was built near Agadez in central Niger at a cost of more than $100 million. Wagner's chief, Yevgeny Prigozhin, has welcomed the coup in Niger and said his forces were available to restore order.

Persons: Abdourahmane Tiani, Balima, Mohamed Bazoum, Russia's Wagner, Biden, Antony Blinken, Nusrat al, Cameron Hudson, Hudson, Terence McCulley, WAGNER, Yevgeny Prigozhin, Wagner, Idrees Ali, Daphne Psaledakis, Simon Lewis, Michelle Nichols, Don Durfee, Deepa Babington Organizations: REUTERS, Nigerien, Islamic State, Al, West African, Center for Strategic, International Studies, United States Institute of Peace, Wagner Group, ., U.S, Thomson Locations: Niger, Niamey, United States, Sahel, Al Qaeda, France, Africa, insurgencies, Russia, China, Washington, U.S, Mali, Burkina Faso, Agadez, State, Nigeria, Ivory Coast, Niger's, Nigerien

☆ Norfolk Southern agrees to boost safety at Ohio derailment site, US says
▼ + stars: | 2023-08-09 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

General view of the site of the derailment of a train carrying hazardous waste, in East Palestine, Ohio, U.S., March 2, 2023. REUTERS/Alan Freed/File PhotoWASHINGTON, Aug 9 (Reuters) - Norfolk Southern Corp (NSC.N) has agreed to improve conditions for workers rebuilding and cleaning up the site of its February derailment in East Palestine, Ohio, the U.S. Labor Department said on Wednesday. A Norfolk Southern-operated train derailed on Feb. 3 in Ohio, causing cars carrying toxic vinyl chloride and other dangerous chemicals to spill and catch fire. In March, Ohio and the U.S. Justice Department sued Norfolk Southern, seeking to ensure the railroad pays the full cost of cleanup and any long-term effects of the derailment. A U.S. Senate panel in May approved rail safety legislation that tightens rules on trains carrying explosive substances like the Norfolk Southern-operated train.

Persons: Alan Freed, We’ve, Alan Shaw, Susan Heavey, David Shepardson, Doina Chiacu, Deepa Babington, Jonathan Oatis Organizations: REUTERS, Norfolk Southern Corp, U.S . Labor Department, Teamsters ’ Railway Union, Safety, Health Administration, OSHA, Waste, Norfolk Southern, U.S . Justice Department, U.S, Senate, Republicans, Thomson Locations: East Palestine , Ohio, U.S, Norfolk Southern, Ohio, Norfolk

BELEM, Brazil, Aug 9 (Reuters) - A dozen rainforest countries formed a pact on Wednesday at a summit in Brazil to demand developed countries pay to help poorer nations combat climate change and preserve biodiversity. In the joint statement, the dozen countries called for financing mechanisms to be developed for the world to pay for the critical services provided by forests. They also expressed concerns that richer nations have not delivered on a promise to provide $100 billion in climate financing annually to developing countries. Additionally, they called on developed nations to meet an existing commitment to provide $200 billion per year for biodiversity preservation. At last year's climate summit, Brazil, Democratic Republic of Congo and Indonesia agreed to form an alliance to pressure rich countries to pay for conservation.

Persons: Saint Vincent, Luiz Inacio Lula da Silva, Lula, Jake Spring, Steven Grattan, Miral Fahmy, Deepa Babington Organizations: Our, Democratic, United Nations, Thomson Locations: BELEM, Brazil, Bolivia, Colombia, Democratic Republic of Congo, Ecuador, Guyana, Indonesia, Peru, Republic of Congo, Grenadines, Suriname, Venezuela, Congo, Southeast Asia, United, Republic

WASHINGTON, Aug 9 (Reuters) - The FBI said its agents shot and killed a Utah man on Wednesday during a raid that a source said targeted the man for allegedly making threats against U.S. President Joe Biden, Vice President Kamala Harris and law enforcement officials. The FBI did not identify the man or say why it was seeking an arrest. Biden, who was scheduled to visit Utah on Wednesday, was briefed on the FBI raid, a White House official said, referring further questions on the matter to the FBI. He also allegedly made online threats against Biden ahead of his scheduled Utah visit. The complaint showed that the suspect faced charges on three counts: interstate threats, threats against the president, and influencing, impeding and retaliating against federal law enforcement officers by threat.

Persons: Joe Biden, Kamala Harris, Biden, Craig Robertson, Harris, Attorney Alvin Bragg, Bragg, Donald Trump, General Merrick Garland, Kanishka Singh, Jeff Mason, Rami Ayyub, Jonathan Oatis, Deepa Babington Organizations: FBI, U.S, Utah, White, Reuters, Attorney's, Manhattan, Attorney, ABC News, Thomson Locations: Utah, Salt Lake City, Provo, New York, States, Washington

☆ GM still struggling to build EVs, sees margin growth ahead for Cruise-CFO
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File PhotoAug 9 (Reuters) - General Motors (GM.N) is still struggling to ramp up production of electric vehicles, a top executive said on Wednesday. Jacobson said GM had built more than 1,000 Lyriqs in July -- still well below the company's initial expectations. In the first six months this year, GM delivered fewer than 2,400 Lyriqs to customers, as it struggled with batteries and other issues. Reporting by Paul Lienert in Detroit, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Morgan, Paul Jacobson, Mary Barra, Jacobson, Paul Lienert, Deepa Babington Organizations: General Motors, REUTERS, GM, Cadillac, Thomson Locations: Detroit , Michigan, U.S, Hill , Tennessee, Detroit

REUTERS/Johanna Geron/Illustration/File PhotoOTTAWA, Aug 8 (Reuters) - Canadian news industry groups on Tuesday asked the country's antitrust regulator to investigate Meta Platforms' (META.O) decision to block news on its platforms in the country, accusing the Facebook parent of abusing its dominant position. Meta started blocking news on its Facebook and Instagram platforms for all users in Canada last week in response to a law requiring internet giants to pay for news articles. The application was filed by industry bodies News Media Canada and the Canadian Association of Broadcasters, along with public broadcaster CBC/Radio-Canada, and asks the Competition Bureau to investigate Meta and stop it from blocking news. A spokesperson for Meta referred to a statement issued last week, in which the company said the Canadian law was based on "the incorrect premise that Meta benefits unfairly from news content shared on our platforms." Google has also said it will block news in Canada by the time the rules come into effect.

Persons: Johanna Geron, Meta, Ismail Shakil, Zaheer Kachwala, Maju Samuel, Deepa Babington, Jonathan Oatis Organizations: REUTERS, OTTAWA, Tuesday, Facebook, Meta, Canada's, News Media Canada, Canadian Association of Broadcasters, CBC, Radio, Canada, Bureau, Google, Thomson Locations: Canada, Ottawa, Bengaluru

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoAug 9 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Producer prices in China have been falling on an annual basis every month since October, and more importantly, the pace of decline has accelerated this year. The range of PPI forecasts is -6.1% to -2.9%, and the CPI range is -0.9% to 0.5%, according to Reuters polls. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Aly, Jamie McGeever, Deepa Babington Organizations: REUTERS, Wall Street, CPI, Bridgestone, Honda, Sony, Nasdaq, China CPI, PPI, Thomson, Reuters Locations: Shanghai, China, Japan, Asia, South Korea

☆ Distressed US corporate debt trading touches 11-month low: JPM
▼ + stars: | 2023-08-08 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

REUTERS/Stephanie Keith/File Photo/File PhotoAug 8 (Reuters) - The amount of U.S. corporate loans and bonds trading at distressed levels has reached its lowest in 11 months, according to a JPMorgan (JPM.N) research report on Tuesday. However, the volume of junk-rated corporate loans themselves trading at distressed levels has fallen for two consecutive months, nearing a year-to-date low in July, it said. At the end of July, $110 billion of outstanding loans traded at distressed levels. It marked the second straight month of declining distressed trading of junk-rated loans, after reaching a year-high in May, according to data in the report. At 22%, loans to junk-rated healthcare sector issuers made up the highest portion of distressed trading last month, according to the JPMorgan report.

Persons: Stephanie Keith, Shirley Singh, Singh, Matt Tracy, Deepa Babington Organizations: JPMorgan, REUTERS, Moody's Investors Service, Moody’s, Thomson Locations: New York City, U.S, . Federal

REUTERS/Jonathan Ernst/File PhotoCompanies Canoo Inc FollowNikola Corp FollowAug 4 (Reuters) - The U.S. Securities and Exchange Commission fined electric vehicle company Canoo Inc $1.5 million on Friday for what the regulator alleges were reporting failures related to hundreds of millions of dollars of unreasonable revenue projections. In the run-up to the deal, Canoo (GOEV.O) had projected revenue of $120 million in 2021 and $250 million in 2022 based on deals to provide engineering services to other companies. In March 2021, the carmaker's stock tumbled 21% after it announced it would not achieve the anticipated revenue, the SEC said in court papers. The SEC said Kranz and Balciunas knew before the merger that the projects were unlikely to generate revenue. Canoo said in May it had tentatively agreed to pay a $1.5 million penalty to settle with the SEC.

Persons: Jonathan Ernst, Canoo, Ulrich Kranz, Paul Balciunas, Kranz, Balciunas, Daniel Wachtell, Nikola, Jody Godoy, Jonathan Oatis, Nick Macfie, Deepa Babington, David Gregorio Our Organizations: U.S . Securities, Exchange, SEC, REUTERS, Nikola, Exchange Commission, DraftKings Inc, Thomson Locations: Washington, Texas, New York

Saudi Arabia on Thursday extended a voluntary oil production cut of 1 million barrels per day to the end of September, keeping the door open for another extension. Russia has also elected to reduce its oil exports by 300,000 barrels per day next month. A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. UBS said it expects Brent prices to trade in the $85 to $90 per barrel range over the coming months. Earlier on Wednesday, the U.S. Energy Information Administration reported that the country's crude oil inventory declined by a record 17 million barrels last week as exports and refiners' input of crude oil ramped up in the heart of summer travel season.

Persons: Brent, Alexander Novak, Maxim, Shariq Khan, Natalie Grover, Arathy, Jason Neely, Kirsten Donovan, David Gregorio, Leslie Adler, Deepa Babington Organizations: Saudi, bbl, UBS, U.S . West Texas Intermediate, Organization of, Petroleum, REUTERS, U.S . Energy Information Administration, Bank of England, Thomson Locations: Russia, Saudi Arabia, U.S, Russian, OPEC, Saudi Aramco, Abqaiq, Bengaluru, London, Houston, Singapore

☆ Two measures of global corporate health flash red
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +5 min

Moller-Maersk (MAERSKb.CO) lowered its estimate for global container trade this year as companies reduce inventories and higher interest rates and recession risks in Europe and the United States drag on global economic growth. The company, one of the world's biggest container shippers, said it expects container volumes to fall by as much as 4%. Maersk controls about one-sixth of global container trade, transporting goods for retailers and consumer companies such as Walmart (WMT.N), Nike (NKE.N) and Unilever (ULVR.L). The International Monetary Fund last week said that it expects global economic growth to slow this year, led by advanced economies even as food prices have come down and the March banking turmoil has been contained. It expects the global growth to slow to 3% this year and next, from 3.5% last year.

Persons: Jon Nazca, . Moller, Mark Read, Grey, Sophie Lund, Yates, Hargreaves Lansdown, Swift, David Jackson, Josephine Mason, Catherine Evans, Deepa Babington Organizations: Triple, Majestic, REUTERS, Maersk, WPP, Walmart, Nike, Unilever, Reuters, Ogilvy, Apple, Amazon.com Inc, Companies, Global, Nissan, Caterpillar, Monetary Fund, DHL Group, Thomson Locations: Strait, Gibraltar, Algeciras, Spain, U.S, Europe, United States, Beijing, slowdowns, China

NEW YORK, Aug 4 (Reuters) - Thousands of people overran New York City's Union Square and the surrounding streets on Friday in a chaotic scene after a popular live streamer announced a "giveaway" event, with police struggling to contain fans throwing projectiles and injuring officers. The event was promoted by Kai Cenat, best known for his live streams on the gaming site Twitch and YouTube videos. He had earlier announced a "huge giveaway" on his Instagram account for 4 p.m. Jeffrey Maddrey, the highest-ranking uniformed officer for the New York City Police Department, told reporters that police were questioning Cenat and that charges against him were possible, including inciting a riot. In a video posted Thursday, Cenat told his followers that the giveaway would include computers and Playstation 5 consoles.

Persons: Kai Cenat, choppers, Jeffrey Maddrey, Cenat, Maddrey, Joseph Ax, Kanishka Singh, Brad Brooks, Deepa Babington, Rosalba O'Brien Organizations: New York City Police Department, Union Square, YouTube, Thomson Locations: New York, Manhattan, New York City, U.S, Washington

REUTERS/Jonathan Bachman/File PhotoAug 4 (Reuters) - A divided federal appeals court on Friday ruled that Mississippi cannot strip the right to vote from thousands of convicts after they complete their sentences, calling that a "cruel and unusual punishment" that disproportionately affected Black people. Circuit Court of Appeals faulted a provision of Mississippi's state constitution that mandates lifetime disenfranchisement for people convicted of a set of crimes including murder, rape and theft. Siding with a group of convicts who sued in 2018 to regain their right to vote, U.S. Circuit Judge James Dennis wrote that the state's policy violated the U.S. Constitution's Eighth Amendment, which bars cruel and unusual punishments. Circuit Judge Carolyn Dineen King in reversing a lower-court judge's ruling.

Persons: Jonathan Bachman, James Dennis, Dennis, Carolyn Dineen King, Mississippians, Jonathan Youngwood, Lynn Fitch, disenfranchisement, Edith Jones, Ronald Reagan, Jones, Nate Raymond, Deepa Babington Organizations: REUTERS, Circuit, U.S ., Washington , D.C, U.S, Democratic, Republican, Supreme, Thomson Locations: Ridgeland , Mississippi, U.S, Mississippi, New Orleans, U.S . Civil, Washington ,, Constitution's, Boston

☆ State court tells New York City to spell out needs in migrant crisis
▼ + stars: | 2023-08-04 | by ( Rachel Nostrant | ) www.reuters.com time to read: +2 min

Recently arrived migrants to New York City wait on the sidewalk outside the Roosevelt Hotel in midtown, Manhattan, where a temporary reception center has been established in New York City, New York, U.S., August 1, 2023. REUTERS/Mike Segar/File PhotoNEW YORK, Aug 4 (Reuters) - A New York State Supreme Court judge on Friday ordered the city of New York to spell out what it needs from the state to solve its migrant housing crisis, ratcheting up pressure on authorities struggling to respond as thousands of migrants seek refuge in the city. The order by New York State Supreme Court Judge Erika Edwards came after a hearing the Legal Aid Society and the Coalition for the Homeless had asked the court to hold Friday, citing a 1981 consent decree under which the city and the state must shelter those in need. Edwards gave the city until Wednesday to identify state facilities and resources it needs to provide appropriate shelter. Following the court order, the New York City mayor's office said the city needed state and federal support to address a crisis, without offering specifics.

Persons: Mike Segar, Erika Edwards, Edwards, Kathy, Hochul, Dave Giffin, Eric Adams, Rachel Nostrant, Donna Bryson, Deepa Babington Organizations: REUTERS, New York, Aid Society, Coalition, Homeless, Reuters, New, Thomson Locations: New York, midtown , Manhattan, New York City , New York, U.S, New, York City, New York City

☆ Connecticut law ending religious vaccine exemptions for children is upheld
▼ + stars: | 2023-08-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

REUTERS/Michelle McLoughlin/File PhotoNEW YORK, Aug 4 (Reuters) - A divided federal appeals court on Friday rejected a challenge to a Connecticut law that ended the state's decades-old religious exemptions from immunization requirements for children in schools, colleges and day care. Circuit Court of Appeals in Manhattan said ending religious exemptions, while still allowing medical exemptions, was a rational means to promote health and safety by reducing the potential spread of vaccine-preventable diseases. He said many U.S. courts have reviewed vaccination mandates for children that lack religious exemptions, and only one, in Mississippi, has ever found constitutional problems. Five other U.S. states--California, Maine, Mississippi, New York and West Virginia--also lack religious exemptions. Connecticut's law, signed by Governor Ned Lamont, does not apply to children from kindergarten to 12th grade who previously had received religious exemptions.

Persons: Michelle McLoughlin, Denny Chin, Chin, Barack Obama, Ned Lamont, Joseph Bianco, Donald Trump, Norm Pattis, Brian Festa, William Tong, Lamont, Jonathan Stempel, David Gregorio, Leslie Adler, Deepa Babington Organizations: Pfizer, REUTERS, U.S, Circuit, Patriots USA, CT, Alliance, COVID, Patriots, Connecticut Office, 2nd U.S, Thomson Locations: Storrs , Connecticut, U.S, Connecticut, Manhattan, Mississippi, California , Maine , Mississippi , New York, West Virginia, 2nd, New York

☆ JPMorgan raises US economic growth estimate, no longer expects 2023 recession
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakeAug 4 (Reuters) - JPMorgan's chief economist said on Friday the bank is no longer forecasting a U.S. recession this year and has raised its economic growth estimate as the economy expands at a "healthy pace." The firm increased its current-quarter real annualized GDP growth estimate to 2.5% from 0.5%, Michael Feroli wrote in a research note on Friday. And while recession risks are still elevated for next year, Feroli said he expects modest, sub-par growth. Earlier this week, strategists at Bank of America said they no longer forecast a 2024 recession for the U.S. and increased their 2023 economic growth outlook for the country. Still, while a recession is no longer his base case, it could materialize if the Fed is not done hiking rates, Feroli cautioned.

Persons: Mike Blake, Michael Feroli, Feroli, Sinéad Carew, Deepa Babington Organizations: REUTERS, Bank of America, U.S, Thomson Locations: Encinitas , California, U.S

☆ Superconductor claims spark investor frenzy, but scientists are skeptical
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +7 min

The South Korean researchers last week said they found a superconductor that works at room temperature, which has long been considered a holy grail for scientists in the field. The South Korean researchers published two papers - one initial paper with three authors and a second, more detailed paper with six authors that included only two of the authors from the first paper. The gold standard for proof of discovery is other labs reliably replicating the South Korean researchers' findings. But another team, from Qufu Normal University, said they did not observe zero resistance, one of required characteristics of a superconductor. On Thursday, South Korean experts said they would set up a committee to verify the claims.

Persons: Read, Kelvin, Eric Toone, Bill Gates, Mike Norman, Norman, Sinéad Griffin, Lawrence, Griffin, apatite, Michael Fuhrer, Fuhrer, Argonne's Norman, Stephen Nellis, Joyce Lee, Brenda Goh, Krystal Hu, Kenneth Li, Deepa Babington Organizations: CEA, Nuclear Research, South, Reuters, South Korean, Huazhong University of Science, Technology, Qufu Normal University, Southeast University, Bill Gates ’, Energy Ventures, National Laboratory, Lawrence Berkeley National Laboratory, . Department of Energy, Monash University, Thomson Locations: ., China, South Korea, Nanjing, Melbourne, Australia, San Francisco, Seoul, Shanghai, New York

Aug 4 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The long end of the U.S. Treasury curve is getting crushed, triggering a surge in long-dated yields and 'steepening' of the curve. The Asian economic data and corporate events calendar on Friday is light, with only Philippines inflation and Singapore retail sales on tap, leaving regional markets beholden to global risk sentiment. The 10-year and 30-year yields are at their highest levels since November, comfortably above 4.0%, and the latter is on track for its biggest weekly rise this year. Global currency market and S&P 500 equity volatility are the highest in two months, and implied volatility in dollar/yen trading is registering its steepest weekly rise since March.

Persons: Jamie McGeever, Deepa Babington Organizations: Investors, U.S, Treasury, Apple, Thomson, Reuters Locations: Asia, Singapore, Japan, Philippines

☆ Cuba bans company access to ATMs, limits cash transactions
▼ + stars: | 2023-08-03 | by ( Nelson Acosta | ) www.reuters.com time to read: +2 min

HAVANA, Aug 3 (Reuters) - The Cuban Central Bank issued rules this week banning state and private businesses from using ATMs and limiting cash transactions between them, as it seeks to tame runaway inflation and off-the-books business amid a grave economic crisis. They limit cash transactions to 5000 pesos and will be implemented gradually over six months, official media said. The government pegs the dollar at 24 pesos and for select companies, tourists and residents at 120 pesos, though it has few to exchange. The dollar currently fetches 230 pesos on the informal market. The crisis has led to a lack of confidence in the state-run banking system, resulting in a lack of cash at some ATMs as businesses use them, leaving residents in the lurch.

Persons: Alejandro Gil, Nelson Acosta, Marc Frank, Deepa Babington Organizations: Cuban Central Bank, Economy, Thomson Locations: HAVANA

☆ Gloomy data makes investors more cautious on world economy
▼ + stars: | 2023-08-01 | by ( Lawrence Delevingne | Thomson Reuters | Delevingne Works Primarily On Enterprise Stories Related To Finance. He Joined Reuters In | ) www.reuters.com time to read: +4 min

[1/3] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. European stocks (.STOXX) fell 0.9%, stepping back from a 2% increase in July, the index's second month of gains. UK stocks (.FTSE) also fell 0.4%, though HSBC (HSBA.L) climbed 1.3% after announcing a $2 billion share buyback and raising its key profitability target. U.S. Treasury yields rose on Tuesday with 30-year paper touching a new year-high as investors expected an increase in government debt issuance and anticipated more signs of economic resilience, despite data showing a slowdown in activity. China's stumbling post-pandemic recovery remained in focus, for instance, after a surprise contraction in manufacturing in a private-sector survey released Tuesday.

Persons: Brendan McDermid, Michael Hewson, Ronald Temple, Brent, Lawrence Delevingne, Tom Wilson, Kevin Buckland, Angus MacSwan, Susan Fenton, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Dow Jones, Nasdaq, Merck & Co, Pfizer, Caterpillar Inc, HSBC, . Federal, CMC Markets, U.S, Lazard, Fed, Energy, BP, Bank of, Thomson Locations: New York City, U.S, China, Asia, Boston, London, Tokyo

Aug 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A double dose of the U.S. Treasuries and dollar 'pain trade' looks set to put Asian markets on the defensive on Wednesday, with investors also bracing for South Korean inflation figures and an expected interest rate hike from the Bank of Thailand. Several indicators, from big Wall Street banks' client surveys to futures market positioning data, show investors are not positioned for that. The yen has fallen nearly 4% since the BOJ tweaked its seven-year 'yield curve control' policy on Friday. Annual inflation in South Korea, meanwhile, is expected to have slowed to 2.40% in July from 2.70% the month before.

Persons: Jamie McGeever, Tuesday's, Deepa Babington Organizations: Bank of Thailand, Bank of, Apple, South, South Korea CPI, PMI, Thomson, Reuters Locations: Asia, Pacific, U.S, South Korea, Thailand, Singapore

☆ Dollar gains after Fed loan survey, yen slips
▼ + stars: | 2023-07-31 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

The dollar index , a measure of the greenback against six major currencies, rose 0.28% after trading little changed earlier in the session. The euro retreated from early gains after data showed economic growth in Europe nudged higher and inflation ticked lower. The dollar advanced 0.78% against the yen at 142.250 after a fresh intervention by the BoJ on Monday. The dollar posted its first monthly loss against the yen since March, and its second successive monthly loss against the euro and pound. The euro earlier rose after data showed euro zone inflation fell further in July, while the bloc returned to growth in the second quarter of 2023 with a greater-than-expected expansion.

Persons: Marc Chandler, Chandler, Jackson, Joe Manimbo, Sterling, BoE, Herbert Lash, Alun John, Rae Wee, Himani Sarkar, Kim Coghill, Christina Fincher, Mark Heinrich, Deepa Babington Organizations: YORK, Federal Reserve, Survey, Bannockburn Global, Index, Bank of Japan, China's State, Federal, Market, Central Bank, Rabobank, ECB, Bank of England's, Thomson Locations: Bannockburn, New York, U.S, Jackson Hole , Wyoming, Washington, Europe, Asia, China, London, Singapore

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