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☆ Asset manager names 9 'cheap' stocks to buy as recession fears grow
▼ + stars: | 2022-11-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

I don't think people realize just how inverted the 2-10 year [Treasury yield] is at the moment, which is really historically a strong signal of an imminent recession," Glass told "Squawk Box Asia" on Monday. 'Cheap' stocks to buy In this environment, Glass selected nine stocks that he said, "look particularly cheap given their growth outlook." His favorites are major U.S. discount retailer Dollar General , investment company 3i whose largest asset is European discount retailer Action, and B & M Value Retail. On 3i, he noted that Action accounts for 50% of its investment portfolio, and the discount retailer is a "beneficiary of rich-poor divide" and consumers trading down. He also said that Action is "recession and inflation resistant," with an attractive valuation at a more-than 20% discount to its net asset value.

☆ Valuations are critical, says asset manager, who names 'cheap' stocks to buy
▼ + stars: | 2022-11-28 | 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 EmailValuations are critical, says asset manager, who names 'cheap' stocks to buySteven Glass, managing director of Pella Funds Management, says it's essential for investors to look at stock valuations right now. He names stocks in one sector that "makes sense" to buy in the current environment.

☆ Another tech bubble bursts: 2022 has been brutal for Silicon Valley workers
▼ + stars: | 2022-11-27 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +28 min

Gem: 100A maker of recruiting software, the startup cut a third of its workforce Nov. 1, The Information reported. HealthCare.com: 149The health insurance marketplace announced the job cuts Aug. 3, Miami Inno reported, citing state regulatory filings. Fabric: 120The robotics startup said July 13 that it was layoffing off 40% of them, TechCrunch reported, citing company confirmation. It affected about 300 people, the Silicon Valley Business Journal reported, citing company confirmation. Policygenius: 170The online insurance company cut about 25% of its staff, Axios reported June 6, citing company confirmation.

☆ Brazil's Lula to prioritize tax reform early in his govt, aide says
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Nov 25 (Reuters) - Brazil's President-elect Luiz Inacio Lula da Silva will give "full priority" to kicking off a tax reform early in his administration, close aide and former Sao Paulo Mayor Fernando Haddad said on Friday. Haddad, who has recently emerged as the front-runner to be finance minister, also said at an event hosted by banking lobby Febraban that Lula would look into quickly resuming trade agreements that have been "sitting on the shelf," including Mercosur's deal with the European Union. Leftist Lula will take office from President Jair Bolsonaro on Jan. 1. Reporting by Andre Romani; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico economy grows 0.9% in Q3 but momentum seen easing on tighter conditions
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

Nov 25 (Reuters) - Mexico's economy grew 0.9% in the third quarter from the previous three-month period, national statistics agency INEGI said on Friday, boosted mainly by the primary sector and despite an ongoing aggressive monetary tightening cycle. Repeating a trend seen in the previous quarter, Latin America's second-largest economy posted across-the-board growth in the period, with primary, secondary and tertiary sectors expanding 2%, 0.6% and 1.1%, respectively. Tighter monetary conditions, however, are seen slowing down Mexico's GDP growth ahead, and President Andres Manuel Lopez Obrador has recently asked the central bank to balance fighting inflation with the need to protect economic growth. In annual terms, INEGI said, the country's economy expanded 4.3% in the third quarter compared to a year earlier, beating expectations of 4.1% growth from economists polled by Reuters. Separately, data showed on Friday that Mexico's economic activity grew 0.7% in September from August and 5.2% from September of 2021, both also ahead of market projections.

☆ Brazil posts current account deficit of $4.6 bln in October
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

The deficit was $4.6 billion in October, below a $4.9 billion shortfall forecast in a Reuters poll with economists. Year-to-date, the current account deficit reached $44 billion, approaching the $46.4 billion deficit recorded for the entire year of 2021. The data was affected by a methodological review by the central bank that increased the shortfall from last year and this year to September. Meanwhile, foreign direct investment in October totaled $5.5 billion, lower than the $6.5 billion projected by economists. Year-to-date, however, FDI reached $74 billion, handily surpassing the full-year 2021 amount of $46.4 billion.

☆ Brazil to allow credit fintechs to initiate payment transactions
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: 1 min

BRASILIA, Nov 25 (Reuters) - Brazil's National Monetary Council on Friday decided to allow credit fintechs to initiate payment transactions, the central bank said, a move that will in practice clear them to provide payment services to consumers and business establishments. Payment initiators, the central bank said in a statement, "initiate a transaction ordered by the final user but never manage the payment account, nor hold the funds of the transactions". Reporting by Isabel Versiani; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Loss of Viva would have negative impact on Colombia's airline industry -Avianca
▼ + stars: | 2022-11-24 | by ( Luis Jaime Acosta | ) www.reuters.com time to read: +2 min

Avianca and Viva announced on Wednesday they had appealed to Colombia's aviation regulator after it rejected their plan to merge, proposing steps to allay its concerns, such as yielding some routes to competitors. Colombia's aviation regulator objected to the merger, saying it poses risks to competition and the welfare of consumers. As a result, ticket prices would rise and routes to some cities only served by Viva would be lost. The aviation regulator has two months to resolve the appeal, although Neuhauser is confident a decision can be reached sooner. Viva faces a complex financial situation after the pandemic slowed travel, worsened this year by rising fuel prices and a weaker peso currency.

☆ Canada to invest C$1.6 bln in first national climate adaptation strategy
▼ + stars: | 2022-11-24 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

near Fintry, Canada, August 24, 2021. REUTERS/Artur Gajda/File PhotoNov 24 (Reuters) - Canada published its first ever national climate adaptation strategy on Thursday, including C$1.6 billion ($1.2 billion) in new federal funding commitments to help protect communities against the increasing impacts of global warming. The goal of the adaptation strategy is to help reduce those losses with federal policy and investment. "The fight against climate change has reached our doorstep. Ottawa has so far earmarked C$8 billion in federal funding for adaptation and disaster resilience, the statement said.

☆ Brazil's Lula won't have interventionist stance on Petrobras, aide says
▼ + stars: | 2022-11-24 | by ( Ricardo Brito | Tom Polansek | ) www.reuters.com time to read: +3 min

[1/2] A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File PhotoBRASILIA, Nov 24 (Reuters) - Brazil's incoming leftist government will not have an interventionist stance on state-run oil giant Petrobras (PETR4.SA), a member of the transition team for President-elect Luiz Inacio Lula da Silva said on Thursday. Market participants have been showing concern over how the Lula administration might run Petrobras. He also noted that the incoming administration, and not Petrobras itself, would set a new fuel pricing policy for the country. Shares of Petrobras, which slipped by roughly a quarter since mid-October, were up more than 4% on Thursday, outperforming Brazil's Bovespa stock index (.BVSP), which rose 2.5%.

☆ Mexico core inflation higher than expected in early Nov, rate hikes to continue
▼ + stars: | 2022-11-24 | by ( Gabriel Araujo | ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 24 (Reuters) - Mexico's annual consumer prices slowed more than expected during the first half of November, but the core inflation index - which remains a main concern in the country as it grapples with high costs - came in above market forecasts. Data from national statistics agency INEGI showed on Thursday that annual headline inflation in Mexico hit 8.14% in the period, down from 8.53% a month ago and also below consensus of 8.24% in a Reuters poll of economists. The latest inflation figures backed expectations that the local central bank, known as Banxico, would keep hiking interest rates. "Overall, headline inflation continues to edge down in Mexico, but core inflation remains sticky, which will continue to keep policymakers uneasy," said Pantheon Macroeconomics' chief Latin America economist, Andres Abadia. On a monthly basis, Mexico's headline inflation rose 0.56% while the core index was up by 0.34% in mid-November, the statistics agency said.

☆ Brazil transition team asks Bolsonaro govt to halt Petrobras asset sales
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Companies Petroleo Brasileiro SA Petrobras FollowNov 22 (Reuters) - The transition team for Brazil's President-elect Luiz Inacio Lula da Silva asked the current administration to halt ongoing asset sales by state-run oil giant Petrobras (PETR4.SA) until a new Mines and Energy Minister is appointed, a member of the group said on Tuesday. The remarks by Professor Mauricio Tolmasquim, tapped last week to participate in the mining and energy group of the transition process, came after a meeting in Brasilia. A second member of the team, Senator Jean Paul Prates, said that Lula was expected to make decision on who would be Petrobras' next chief executive by early December. Lula is set to take office from incumbent President Jair Bolsonaro on Jan. 1. Reporting by Roberto Samora in Sao Paulo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO, Nov 22 (Reuters) - A journalist covering the soccer World Cup in Qatar on Tuesday said local police hassled him outside a stadium after a regional Brazilian flag was mistaken for an LGBTQ pride flag. He told Reuters that a man wearing a traditional white dress mistook it for the LGBTQ community's rainbow flag when he was leaving the Lusail Stadium after Saudi Arabia's shock 2-1 win over Argentina. "This guy wearing a white dress grabbed the flag, threw it on the ground and started stomping on it. I took my phone to record a video but he grabbed it from my hand and said he would only give it back if I deleted the video," Pereira said. A U.S. journalist said he was briefly detained on Monday when he tried to enter a World Cup stadium in Qatar while wearing a rainbow shirt in support of the LGBTQ community, also claiming his phone was seized.

☆ Analysis: COP27 does little for next month's global agenda: nature loss
▼ + stars: | 2022-11-21 | by ( Gloria Dickie | ) www.reuters.com time to read: +4 min

Many environment ministers and campaigners have said the climate talks should underline the importance of protecting nature to help to limit climate change. The "landmark" target of the draft Montreal deal proposes protecting 30% of the world's land and sea by 2030 - known informally as 30-by-30. The world's wildlife crisis is largely driven by habitat loss, with wild spaces turned into agricultural fields and cities, or degraded by pollution. But climate change poses an increasing threat as temperatures climb, pushing species out of their comfortable ranges. It encouraged parties to "consider, as appropriate, nature-based solutions or ecosystem-based approaches" to climate change.

☆ Teenager Bellingham ignites England with dynamic display
▼ + stars: | 2022-11-21 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

England manager Gareth Southgate had come under fire during a six-game winless run in the Nations League ahead of the World Cup -- his sides lacking fluidity and forward thrust. It made Bellingham the youngest England scorer at a World Cup since Michael Owen in 1998 and the first player born in 2000 or later ever to score in the finals. Another former England midfielder Jermaine Jenas added: "Bellingham has been outrageous today. But if England are to go deep in Qatar, Bellingham could be the spark that ignites Southgate's team. "Wins take the pressure off, when you win games, you're at ease for a little bit longer," Bellingham said.

☆ Chile's GDP posts largest quarterly drop in over 2 years
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO, Nov 18 (Reuters) - Chile's economy posted in the third quarter its largest sequential drop in more than two years, central bank data showed on Friday, as recession concerns grow in the world's largest copper producer. Gross domestic product (GDP) contracted 1.2% from the second quarter, the central bank said, its largest decrease since the second quarter of 2020, when the economy dropped 13% as the COVID-19 pandemic hit the Andean country. Chile's economy recovered rapidly from the pandemic-related downturn but was then hit by soaring inflation, leading the local central bank to hike interest rates aggressively to the current 11.25%. On a yearly basis, according to the central bank, Chile's economy expanded 0.3% in the third quarter, slightly above expectations of a 0.2% increase. Reporting by Fabian Andres Cambero and Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil is not out of the woods on inflation amid fiscal concerns, says cenbank chief
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: 1 min

BRASILIA, Nov 18 (Reuters) - Brazil is not out of the wood on inflation and policymakers still see work to be done, said central bank chief Roberto Campos Neto on Friday, stressing that fiscal concerns are affecting market expectations for monetary easing. Speaking at an event hosted by Bloomberg, he said the central bank does not handle fiscal policy but takes it as an input. Still, it is very important to have coordination between fiscal and monetary policies at this stage of the cycle, he added. Reporting by Marcela Ayres; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO, Nov 17 (Reuters) - Brazilian markets slumped on Thursday after the incoming administration of President-elect Luiz Inacio Lula da Silva proposed exempting some 175 billion reais ($32 billion) from the spending cap on next year's budget to pay for welfare programs. Lula's transition team late on Wednesday proposed to lawmakers guidelines for a constitutional amendment that would set a spending cap waiver to secure welfare programs, though without establishing how long the waiver would last. "The stock market will fall, the dollar will rise (against the real). The dollar doesn't rise and the stock market doesn't fall because of serious people, but because of those speculating every single day," he said. Helder Wakabayashi, an analyst at Toro Investimentos, said that markets would remain pressured at least until the incoming government proposes a deadline for the spending cap waiver.

☆ COP27 climate talks seen as key to success at next month's U.N. nature summit
▼ + stars: | 2022-11-16 | by ( Gloria Dickie | ) www.reuters.com time to read: +5 min

"Climate change is one of the big drivers of biodiversity loss," said David Cooper, the deputy chief of U.N.'s Convention on Biological Diversity. "If we don't have successful outcomes in the climate process, then we cannot halt biodiversity loss," Cooper said. "You cannot have a dream of coping with climate change only through the emissions," Virginijus Sinkevičiu, European Commissioner for Environment, Oceans and Fisheries, told Reuters. "If ecosystems are not able to cope, you don't have a success story" in fighting climate change. President Xi Jinping has not attended the climate talks in Sharm el-Sheikh and is also not expected to attend COP15.

☆ US Secret Service protection would follow Donald Trump to the slammer if he ever ended up there, former agents say
▼ + stars: | 2022-11-16 | by ( Robin Bravender | Dave Levinthal | ) www.businessinsider.com time to read: +11 min

"If Donald Trump gets sent to prison, what's the role of the Secret Service in that case?" Federal law entitles Trump and all other ex-presidents to Secret Service protections for life — although it didn't always. "Geez, the fact that we're thinking about him going to jail kind of scares me," said the former Secret Service official. While former presidents are entitled to Secret Service protection, they can opt to decline it — just as Nixon did after leaving office. They did so under the Clinton administration, when a law was passed that would afford ex-presidents 10 years of Secret Service security, rather than lifetime protections.

☆ Haiti cholera outbreak worsens, COVID-19 cases rise in Americas - PAHO
▼ + stars: | 2022-11-16 | by ( Steven Grattan | ) www.reuters.com time to read: +2 min

REUTERS/Ricardo ArduengoSAO PAULO, Nov 16 (Reuters) - The cholera situation in Haiti continues to worsen while COVID-19 cases rose over the past week, the Pan American Health Organization (PAHO) said on Wednesday. Haitian health authorities have confirmed over 700 cases of cholera and 144 cholera-related deaths since early October, and are investigating more than 7,000 suspected cases, PAHO Director Dr. Carissa Etienne said. The Americas are facing a “triple threat” of respiratory diseases, as COVID-19, Influenza and Respiratory Syncytial Virus (RSV) burden the region and its health systems, PAHO said. There was a 17% rise in COVID-19 cases, and deaths increased in South America and Central America over the past week, Etienne said. Although the Americas are still the region most impacted by monkeypox, PAHO said cases have fallen in most of the severely affected countries.

☆ Meet the Republican-appointed judges who blocked Biden's student-loan forgiveness
▼ + stars: | 2022-11-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The judges have a history of conservative rulings on topics ranging from immigration to abortion. Student-loan forgiveness remains blocked until the courts make final decisions. For example, the judge who ruled in the Texas decision compared student-loan forgiveness to a 1933 law that gave Adolf Hitler power, sparking criticism from some legal experts. Here are the judges who deemed student-loan forgiveness illegal for millions of borrowers. Grasz also spent eleven years serving as Nebraska's Chief Deputy Attorney General — one of the six states that sued Biden's student-loan forgiveness plan.

☆ Brazil's Embraer narrows Q3 net loss, sees deliveries at lower end of outlook
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 14 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) on Monday reported a narrower third quarter net loss and boosted its free cash flow outlook for the full year, but acknowledged that annual deliveries were likely to stay at the lower end of its forecast. Embraer posted a quarterly adjusted net loss of 93.8 million reais ($17.62 million), narrower than the 179.7 million-real loss a year ago despite net revenue dropping 3% to 4.87 billion reais. The company increased its free cash flow outlook for the full year to $150 million or more from a previous estimate of $50 million or more, saying results so far have outperformed initial expectations. Santander analysts said the results missed their projections, but the reaffirmed delivery outlook was positive given the risks from supply chain issues. ($1 = 5.3250 reais)Reporting by Gabriel Araujo; Editing by Steven Grattan, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

That’s what you work so hard for … That’s why you play,” Rooney reminisces. The club went into administration after debts spiraled and it failed to play players their wages. “He was great to play for, he’s the reason I signed for Manchester United to play for him. Then Manchester United manager Sir Alex Ferguson congratulates Wayne Rooney after his final Premier League title win in 2013. While Rooney was in Dubai, goals from Fred and Bruno Fernandes gave the Manchester club a dominant victory over Tottenham Hotspur.

☆ Brazil cenbank chief says fiscal prudence central to inflation aims
▼ + stars: | 2022-11-11 | by ( Hernan Nessi | Nidhi Verma | ) www.reuters.com time to read: +2 min

BRASILIA, Nov 11 (Reuters) - Brazil's central bank chief Roberto Campos Neto emphatically defended the need for fiscal balance on Friday, following statements by leftist President-elect Luiz Inacio Lula da Silva that soured the markets by downplaying the issue's importance. In Britain, for example, former Prime Minister Liz Truss resigned after markets shunned her plans for major unfunded tax cuts. "I don't know if there was a Liz Truss moment for Brazil (yesterday), but it was a clear demonstration of the markets' sensitivity to the fiscal issue," said Campos Neto. He said the central bank's autonomy would pass "an important test" but believed in the continuity of that status under Lula's future administration. Campos Neto also stressed that the bank's policymakers are open to participating in the transition government.

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