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☆ Dollar steady ahead of key US inflation data, yen retraces gains
▼ + stars: | 2023-09-13 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

In the broader currency market, the dollar stood firm, though moves were subdued as traders stayed on guard ahead of the closely-watched U.S. inflation reading out later on Wednesday. Wednesday's U.S. consumer price index (CPI) data for August comes just a week before Federal Reserve officials gather to decide on interest rate policy. While the central bank is largely expected to keep rates on hold at next week's meeting, according to CME's FedWatch Tool, the Fed's next move in November remains more uncertain. "In recent months, European inflation, core inflation in particular, has fallen more slowly than expected. "The high inflation rate warrants another rate hike, but the economic indicators ... signal that a recession is imminent."

Persons: Dado Ruvic, Kazuo Ueda, Alvin Tan, Ueda, Hiroshige Seko, Sterling, CME's, Tina Teng, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Bank of Japan, Asia FX, RBC Capital Markets, Federal Reserve, U.S, Wednesday's, Fed, CMC Markets, European Central Bank, Reuters, Rabobank, Thomson Locations: U.S, Asia, Wednesday's U.S

November Brent crude futures rose 28 cents to $90.92 a barrel at 0300 GMT, while U.S. West Texas Intermediate crude futures for October edged 35 cents higher to $87.64. The U.S. Federal Reserve is widely expected to leave interest interest rates unchanged at a policy meeting next week, though views are split over whether the Fed will raise rates or pause again in November. The European Commission on Monday forecast the euro zone to grow more slowly than previously expected in 2023 and 2024. The IEA last month lowered its 2024 forecast for oil demand growth to 1 million bpd, citing lackluster macroeconomic conditions. OPEC's August report, meanwhile, kept its 2.25 million bpd demand growth forecast for 2024 unchanged.

Persons: Nathan Frandino, Brent, Tina Teng, Teng, OPEC's, Jeslyn Lerh, Stephanie Kelly, Jamie Freed Organizations: Phillips, American West, REUTERS, bbl, Brent, U.S, West Texas, Traders, CMC, U.S . Federal Reserve, European Central Bank, European, Investors, International Energy Agency, Organization of, Petroleum, IEA, Thomson Locations: Rodeo , California, American, U.S, SINGAPORE, Europe, Saudi Arabia, Russia, China, OPEC, Singapore, New York

☆ 'The Brady Bunch' house sold to a megafan for $2.3 million under asking. She still called it the 'worst investment ever' — see inside.
▼ + stars: | 2023-09-12 | by ( Will Gendron | Jordan Pandy | ) www.businessinsider.com time to read: +4 min

"The Brady Bunch" fan, Tina Trahan, bought the house used as the Brady home exterior for $3.2 million. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The house featured in "The Brady Bunch" hit the market in early June for a cool $5.5 million — and it just sold on Monday for $3.2 million. AdvertisementAdvertisementThe buyer, Tina Trahan, told The Wall Street Journal that she was a fan of the show, although she doesn't plan to live in the house. "Nobody is going to live in it," she told The Wall Street Journal.

Persons: Tina Trahan, Brady, Trahan, Danny Brown, Marcy Roth, Eklund Gomes, Douglas Elliman, Fredrik Eklund, Roth, Brown, overpriced, Wayne Brady, " Brown Organizations: HGTV, Service, Street Journal, HBO, Wall Street Journal, Compass, Wall Street Locations: Wall, Silicon, American, Studio, Los Angeles, Hollywood

☆ Talking Heads Reunite for Restored ‘Stop Making Sense’
▼ + stars: | 2023-09-11 | by ( Jason Bailey | ) www.nytimes.com time to read: +2 min

The hottest ticket at this year’s Toronto International Film Festival was not for the new auteur film from Hayao Miyazaki or Ryusuke Hamaguchi, the latest vehicle for Kate Winslet or Sean Penn, or grand prizewinners at Cannes and Venice. No, the most feverishly in-demand screening was for a 39-year-old movie that everyone in its sold-out audience could have watched at home, at the push of a button. “Stop Making Sense,” directed by Jonathan Demme, is widely considered to be one of the finest examples of the form, a joyful documentation (and celebration) of Talking Heads’ 1983 tour supporting their album “Speaking in Tongues.” The Toronto festival screening marked the debut of A24’s new restoration of the film ahead of its theatrical and IMAX rerelease later this month. “This is the greatest concert film ever!” he enthused with the musicians sitting next to him. That reunion was an event in itself, following what the frontman David Byrne recently described, with characteristic understatement, as an “ugly” breakup in 1991.

Persons: Hayao Miyazaki, Kate Winslet, Sean Penn, ”, Jonathan Demme, Spike Lee, “, I’m, David Byrne, haven’t, Chris Frantz, Byrne, Tina Weymouth Organizations: Roll Hall of Fame Locations: Cannes, Venice, Toronto

☆ ‘Friends’ and ‘Seinfeld’ knew the cure for loneliness
▼ + stars: | 2023-09-06 | by ( Eliza Relman | ) www.businessinsider.com time to read: +15 min

Racial and class segregation have also long shaped and limited access to public places. "The fundamental rule of public space is that what attracts people most is other people." So it's counterproductive to stop responsible drinkers from enjoying themselves in parks, at street fairs, and in other public places. There are an average of eight public toilets for every 100,000 people in the US, but access to facilities varies widely. By contrast, countries like the UK and Switzerland have many more public toilets per capita.

Persons: Sara Hoy, Hoy, she'd, I've, Erin Boyd, Culdesac, We're, —, Severance, Vivek Murthy, millennials, Sen, Chris Murphy, Murphy, Tina Smith, Smith, Leslie Kern, Kern, Mitchell Reardon, Reardon, Eid, Kristen Ghodsee, who's, Ghodsee Organizations: Central Pennsylvania, Peace Corps, today's, Seneca Village, Dodger, Connecticut Democrat, Minnesota Democrat, Soho House, Social, Centers for Disease Control, East European Studies, University of Pennsylvania, National Association of Realtors Locations: Central, Moldova, Korea, Sweden, Phoenix, Arizona, New York, Seneca, Washington, Rock Creek, Los Angeles, Connecticut, America's, Wethersfield , Connecticut, Minnesota, Soho, America, Seattle, York City, Rochester , Minnesota, Europe, Germany, It's, Switzerland, Homebuyers, Houston, Austin

☆ Ron DeSantis just put the co-founder of a book ban advocacy group on Florida's state ethics commission
▼ + stars: | 2023-09-06 | by ( Grace Eliza Goodwin | John L. Dorman | ) www.businessinsider.com time to read: +2 min

DeSantis appointed the co-founder of right-wing parental rights group to the state's ethics committee. The group, Moms for Liberty, says its mission is to "stoke the fires of liberty." The group has proposed book bans and fought against mask mandates and teachings about racism and gender issues. The group, however, has rejected the idea that they are seeking to ban books. Moms for Liberty certainly isn't," Moms for Liberty co-founder Tiffany Justice told NewsNation earlier this year.

Persons: DeSantis, Ron DeSantis, Tina Descovich, Descovich, Tiffany Justice, NewsNation Organizations: Florida Gov, Liberty, stoke, Service, Gov, Tallahassee Democrat, Southern Poverty Law Locations: Florida, Wall, Silicon, state's, Leon County , Florida, Tallahassee

Ron DeSantis appointed a co-founder of Moms for Liberty, a “parental rights” group that has sought to take over school boards in multiple states, to the Florida Commission on Ethics on Wednesday. Tina Descovich was named to the nine-member, Tallahassee-based commission, which investigates alleged breaches of public trust by elected and appointed officials, as well as state employees. Moms for Liberty started with Descovich and two other Florida women fighting COVID-19 restrictions in 2021. Along with Descovich, DeSantis also appointed South Florida attorney Luis Fuste to the commission. Another vacancy on the ethics commission was created in June, when former member Jim Waldman's term ended.

Persons: Ron DeSantis, Tina Descovich, Descovich, ”, DeSantis, Luis Fuste, Glen Gilzean, Gilzean, Jim Waldman's Organizations: — Republican Gov, Liberty, School Board, Florida Coalition of School, Heritage Foundation, Republican, Southern Poverty Law Center, South, Florida Senate, Central, Walt Disney, Disney Locations: TALLAHASSEE, Fla, Florida, Tallahassee, Brevard County, Tampa, Philadelphia, South Florida, Central Florida

☆ Little Richard embraced fluidity in rock ‘n’ roll. These are some of the artists he influenced
▼ + stars: | 2023-09-04 | by ( Scottie Andrew | ) edition.cnn.com time to read: +12 min

Editor’s Note: The CNN Film “Little Richard: I Am Everything” tells the story of rock ‘n’ roll’s Black, queer origins. Kevin Winter/Getty ImagesPerhaps the closest thing to a successor Little Richard had was Prince, the late legend who, like Little Richard, resisted easy classification and reinvented music upon his arrival. Tina TurnerTina Turner and Little Richard reunited for a performance at the 1989 Rock & Roll Hall of Fame Induction Ceremony. “I couldn’t believe the power of Little Richard on stage,” he said in Little Richard’s biography. Ian Gavan/Getty ImagesLike Little Richard, the British pop maven always felt at home in front of a piano, often tinkling the keys dressed in an ostentatious garment involving feathers (Little Richard, meanwhile, mostly stuck to suits).

Persons: “, Richard, Lil Nas, Little Richard, didn’t, Prince, David Bowie, Janelle Monáe, Dick Clark, Little Richard’s, Prince Prince, Kevin Winter, ” Richard, Rosetta Tharpe, you’ll, Frutti ”, NPR’s Ann Powers, Frutti, …, ” Prince, Richard’s, Nikki ”, MTV “, ” David Bowie David Bowie, Ziggy Stardust, Bowie, ”, Ziggy, wouldn’t, ” Bowie, Tina Turner Tina Turner, Sonia Moskowitz, Ike, Turner, —, Elvis, Mick Jagger Richard, Jagger, Little, Elton John Elton John, Ian Gavan, maven, John, he’s, ” John, Beverly Hilton, Freddie Mercury, might’ve, Queen —, Elvis Baz Luhrman’s, ” dramatizes, Alton Mason, Richard careens, Elvis ”, King —, Janelle Monáe Janelle Monáe, Ethan Miller, Monáe, ” Monae, Richard . Lady Gaga, Gaga, Jo Calderone, Princess Lavonne, Lavonne, he’d, Jo, Princess Lavonne’s, ” Ashon Crawley Organizations: CNN, MTV, Roll Hall, Beverly, Warner Bros, Warner Bros ., USA, NPR Music Locations: London, New Orleans, British, Monáe

☆ Cedar Key, an Imperiled ‘Old Florida’ Town, Looks to Rebuild
▼ + stars: | 2023-08-31 | by ( Arian Campo-Flores | Photographs Tina Russell For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: florida

☆ US senators push drugmakers for details on low-cost insulin programs
▼ + stars: | 2023-08-31 | by ( Patrick Wingrove | ) www.reuters.com time to read: +2 min

Democratic Senators Maggie Hassan and Tina Smith sent a letter asking the drugmakers for information on eligibility criteria for the programs, including whether a patient’s insurance status or income barred them from joining, and the steps insulin users had to take to sign up. Novo, Lilly and Sanofi, which account for 90% of the U.S. insulin market, pledged in March to lower the list prices of many of their insulin products by 70%-78% later this year or in 2024. The White House on Tuesday announced that a Novo insulin was among the 10 high-cost prescription drugs selected for the first-ever price negotiations by the U.S. Medicare health program that covers 66 million people. Hassan and Smith argued that to enroll in the drugmakers’ insulin programs, patients had to go through a lengthy and complicated process that required them fill out five to 10 pages of documentation and wait an unknown amount of time for approval. Around 8.4 million of the 37 million people in the United States with diabetes use insulin, according to the American Diabetes Association.

Persons: George Frey, Eli Lilly, Maggie Hassan, Tina Smith, Lilly, Biden, Elizabeth Warren, Hassan, Smith, Patrick Wingrove, Bill Berkrot Organizations: Novo Nordisk Pharmaceutical, REUTERS, Novo Nordisk, Sanofi, Democratic, U.S, Democrat, American Diabetes Association, Thomson Locations: Provo , Utah, U.S, United States

☆ Asian shares hit two-week high on prospects for Fed pause
▼ + stars: | 2023-08-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

The index though is down about 6% so far in August and set for its worst monthly performance since February. The Eurostoxx 50 futures rose 0.39%, German DAX futures were up 0.29% and FTSE futures were up 0.31%. Overnight, Wall Street ended sharply higher, while Treasury yields slid to three-week lows after data showed U.S. job openings dropped to the lowest in nearly 2-1/2 years in July, signalling easing labour market pressures. With the Fed highlighting that the interest rate path will be heavily dependent on data, traders are tweaking their bets based on the latest indicators. Traders will be closely watching cocoa prices on Wednesday after the London cocoa futures on ICE rose to a 46-year high on Tuesday, buoyed by tightening supplies.

Persons: Issei Kato, DAX, Powell, Tina Teng, Carlos Casanova, Gina Raimondo, Brent, bitcoin, Ankur Banerjee, Edmund Klamann Organizations: REUTERS, Rights, Federal Reserve, Futures, Treasury, CMC Markets, Investors, PMI, . Commerce, Aussie, Traders, Thomson Locations: Tokyo, Japan, Asia, Pacific, Europe, Germany, Spain, China, Wednesday's, UBP, U.S

☆ Rising caffeine levels spark calls for ban on energy drink sales to children
▼ + stars: | 2023-08-30 | by ( Kailyn Rhone | ) www.reuters.com time to read: +5 min

[1/2] FILE PHOTO-Prime energy drink cans sit on a shelf at Target in Brooklyn, New York, U.S., August 18, 2023. Rival products like Anheuser Busch InBev-backed (ABI.BR) Ghost energy drinks and Kim Kardashian's “Kimade” energy drink also have 200 mg of caffeine. In the U.S. and UK, no national regulations ban the sale of high-caffeine energy drinks. She added: "Any energy drink with a high dose caffeine in it, such as Prime Energy, is unsafe for children." “I got confused because when you first see the can, it’s hard to see where it says energy drink.

Persons: Kim Kardashian's, Holly Benjamin, Dr, Benjamin, Chuck Schumer, Alani, Logan Paul, KSI, Shick, ”, “, Bonnie Patten, TINA, GNC, Vanessa O'Connell, Lisa Shumaker Organizations: REUTERS, Prime Energy, Anheuser Busch InBev, Monster Energy, University of Chicago, American Academy of Child, Psychiatry, FDA, U.S, Ghost Energy, Congo Brands, American Medical Association, Walmart, Target, Energy, Kailyn, Thomson Locations: Target, Brooklyn , New York, U.S, Canada, Australia, New Zealand, Congo, Florida, Kailyn Rhone, New York

☆ University of North Carolina Graduate Student Charged in Shooting
▼ + stars: | 2023-08-29 | by ( ) www.wsj.com time to read: 1 min

Hurricane Idalia Approaches Florida, Could Be ‘Extremely Dangerous’Idalia could intensify to at least a Category 3 hurricane and cause life-threatening storm surges on Florida’s Gulf Coast, according to forecasters. It is set to be one of the first major hurricanes of the Atlantic hurricane season. Photo: Tina Russell for The Wall Street Journal

Persons: Tina Russell Organizations: Atlantic, The Wall Street Locations: Florida, Gulf Coast

☆ Oil rises as China moves to support economy, tropical storm in focus
▼ + stars: | 2023-08-28 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. The market is also keeping an eye on Tropical Storm Idalia and any risk it poses to oil and gas output in the U.S. Gulf. The focus today is on "China actions to support its economy, Tropical Storm Idalia heading for Florida and whether Brent can regain momentum on a break above $85," said Ole Hansen, head of commodity strategy at Saxo Bank. That "should see some short-term support for the oil price", he said. Oil prices have remained above $80 a barrel with support from falling oil inventories and supply cuts from the OPEC+ group of oil producers.

Persons: Chen Aizhu, Idalia, Fed's Powell, Brent, Ole Hansen, Tony Sycamore, Jerome Powell, Tina Teng, Florence Tan, Sudarshan, Jason Neely, Kirsten Donovan, Louise Heavens, Sharon Singleton Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, . West Texas Intermediate, Saxo Bank, CMC, Reuters, Thomson Locations: China, Dalian, Liaoning province, Florida, U.S . Gulf, Brent, Cuba, U.S, OPEC, Saudi Arabia

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. CMC markets analyst Tina Teng said a soft-landing scenario for the U.S. economy buoyed energy markets on Monday, despite the Federal Reserve's hawkish stance on rate hikes. That "should see some short term support for the oil price", he said. Oil prices have remained above $80 a barrel on support from falling oil inventories and supply cuts from the OPEC+ collective of oil producers. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Christopher Cushing and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Chen Aizhu, Baker Hughes, Brent, WTI, Jerome Powell, Tony Sycamore, Sycamore, Tina Teng, Idalia, Florence Tan, Sudarshan, Christopher Cushing, Clarence Fernandez Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, IG, PMI, CMC, Federal, ANZ Research, Thomson Locations: China, Dalian, Liaoning province, SINGAPORE, U.S, United States, Caribbean, Florida, Gulf, OPEC, Iran, Venezuela

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsCompanies Baker Hughes Co FollowSINGAPORE, Aug 28 (Reuters) - Oil prices were marginally lower on Monday as investors stayed fretful over the pace of economic growth in China, and the prospect of further U.S. interest rate hikes that could dampen fuel demand. Oil rose in early Asian trade before paring gains, as China's move to halve stamp duty on stock trading to boost struggling markets temporarily pushed up prices. In the United States, energy firms cut the number of active oil rigs for a ninth month in August, Baker Hughes said in a report. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Christopher Cushing and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Amy Klobuchar and other powerful Minnesota politicians enjoy their photo ops with shirtless firefighters at State Fair
▼ + stars: | 2023-08-28 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

There's nothing politicians love more than a good, old-fashioned state fair. Three Democratic congresswomen encountered a group of shirtless firefighters in Minnesota. On Friday, Sen. Amy Klobuchar tweeted out her must-sees of the 2023 Minnesota State Fair. "State Fair pro tip: You don't want to miss the Minnesota firefighters at the @MNAFLCIO," she tweeted. Tim Walz should make it real), goes to Minnesota's senior senator, Tina Smith.

Persons: Democratic congresswomen, Sen, Amy Klobuchar, Paul ., Ilhan Omar, Tim Walz, Tina Smith Organizations: Democratic, Service, Committee, American Federation of, Minnesota, vikings Locations: Minnesota, Wall, Silicon

☆ Oil ticks higher after China moves to support flagging economy
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: +2 min

A very large oil tanker docked at the 300,000-ton crude oil terminal at Yantai Port in Yantai, Shandong province, China, June 16, 2023. Oil prices ticked higher on Monday, along with equity markets, after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen fuel demand. China's manufacturing purchasing managers' index, or PMI, due later this week will likely reveal more dour economic news around the world's second-biggest economy, Sycamore said. However, oil prices remained above $80 a barrel on support from falling oil inventories and supply cuts from the OPEC+ collective of oil producers. That "should see some short term support for the oil price," he said.

Persons: Brent, Tony Sycamore, Sycamore, Tina Teng, WTI, Jerome Powell, Baker Hughes, Idalia Organizations: West Texas, PMI, CMC Locations: Yantai, Shandong province, China, U.S, Brent, OPEC, United States, Caribbean, Florida, Gulf

☆ 18 New Restaurants to Put on Your Fall List
▼ + stars: | 2023-08-28 | by ( Florence Fabricant | More About Florence Fabricant | ) www.nytimes.com time to read: +2 min

Four Twenty FiveThe name is the Park Avenue address of a new, 47-story office tower designed by Norman Foster. But Mr. Vongerichten and his partners hope to evoke another Park Avenue landmark: the former Four Seasons restaurant, the celebrity magnet that closed in 2019. He is working with Mr. Vongerichten on a menu that will showcase French, American, Italian and Asian flavors and techniques. 425 Park Avenue (56th Street). Nomad Tea ParlourIf you confuse this with the venerable Nom Wah Tea Parlor in Chinatown, you’re forgiven.

Persons: Norman Foster, Vongerichten, Jonathan Benno, Lincoln Ristorante, Simone, —, Pete Wells, Tina Vaughn, Chip Smith, you’re, Wilson Tang, Mandy Zhang Organizations: Lincoln, Montrachet, Broadway Locations: Eulalie, TriBeCa, Chinatown, Blue Willow

☆ How Many Former Vanity Fair Staffers Does It Take to Build a Roof?
▼ + stars: | 2023-08-18 | by ( Steven Kurutz | More About Steven Kurutz | ) www.nytimes.com time to read: +1 min

While doing things that felt familiar to the core business, the Davids were also expanding Standard Investments, an investment arm they established, which now manages more than $4 billion. The majority of that money is invested in the public markets, in other industrial companies like Shell. But in an email from Italy, where he was on vacation with his family, Mr. Carter dispelled that idea. “Hamilton was on the front lines in this,” Mr. Carter said. “He brought in Beth Kseniak to handle communications and, before you know it, the place was filled with the VF diaspora.”Stylish and well connected, Mr. South, 59, is also a Vanity Fair alum.

Persons: Davids, Carter, Kelly, “, ”, Giorgio Armani, Ralph Lauren, “ Hamilton, Mr, Beth Kseniak, Tina Brown Organizations: Investments, Shell, Standard Investments, Air Mail, Hamilton, HL Locations: Italy

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Brent crude futures were up 8 cents, or 0.1%, at $83.53 a barrel by 0245 GMT, after initially falling 0.5%. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. "Crude prices are going to struggle here as we have bearish sentiment in the world's two largest economies," said Edward Moya, an analyst at OANDA. Reporting by Katya Golubkova; Editing by Sonali Paul and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Tina Teng, Teng, Edward Moya, Katya Golubkova, Sonali Paul, Muralikumar Organizations: REUTERS, Rights, Brent, U.S . West Texas, CMC Markets, Traders, U.S, U.S . Federal, OANDA, Thomson Locations: Zhoushan, Zhejiang province, China, U.S, OPEC, China's, U.S .

☆ Mirror Images: 4 Picture Books About Seeing Our Reflections
▼ + stars: | 2023-08-16 | by ( Sabrina Orah Mark | ) www.nytimes.com time to read: +1 min

Mirrors, throughout literature, are omens and traps. They are soft enough to walk through, like mist; they are riddles that shatter upon reflection; they are magic. And what they reflect back may not have anything to do with us, or if it does have to do with us it’s the hide to our seek. When read from front to back, the book imparts an essential message about being kind to your reflection. Each page is dappled with black ink, as if Zebra’s stripes have permeated the air of the grasslands she grazes, because don’t landscapes reflect the beings that inhabit them?

Persons: Eli, “, Tina Arnuš Pupis, Marta Bartolj

☆ Asia stocks fall as weak China data weigh
▼ + stars: | 2023-08-16 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

China reported weaker than expected July activity data Tuesday, accompanied by news that Beijing would no longer publish youth unemployment data. Wong said he was most concerned about month-to-month decline of China's retail sales and weak infrastructure investments, which suggested lack of funding from local governments. China's industrial output and retail sales growth both slowed from a month earlier to a year-on-year pace of 3.7% and 2.5% respectively, missing expectations. If the decline begins to accelerate, it will feed back on weaker consumer confidence and weigh on already feeble retail sales growth. All three major U.S. equity indexes ended Tuesday lower, after a stronger-than-expected report on U.S. retail sales data.

Persons: Issei Kato, HONG KONG, Australia's, Redmond Wong, Wong, Hang, John Milroy, Ord Minnett, Tina Teng, Ord Minnett's Milroy, Brent, Kane Wu, Lincoln Organizations: REUTERS, Japan's Nikkei, Saxo Markets, Dow Jones, Nasdaq, Fed, New Zealand, CMC, Canada, BHP, Thomson Locations: Tokyo, Japan, HONG, Asia, Asia Pacific, China, Beijing, Greater China, Wedneday

Aug 14 (Reuters) - Oil prices declined more than 1% on Monday as concerns about China's faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. A stronger dollar pressures oil demand by making the commodity more expensive for buyers holding other currencies. It has been singularly focused on U.S. economic optimism, to the exclusion of the increasingly stronger headwinds blowing in the eurozone and China," said Vandana Hari, founder of oil market analysis provider Vanda Insights. "A rebalancing is overdue but it may need a reality check in the markets stateside," Hari said. In the United States, the number of operating oil rigs held steady at 525 last week, after falling for eight weeks in a row, according to Baker Hughes weekly report.

Persons: Vandana Hari, Hari, Tina Teng, Brent, Baker Hughes, Florence Tan, Mohi Narayan, Tom Hogue, Sonali Paul Organizations: Brent, West Texas, U.S, Federal, Vanda Insights, CMC, Organization of, Petroleum, International Energy Agency, Thomson Locations: China, OPEC, Saudi Arabia, Russia, Russian, Ukraine, United States, Singapore, New Delhi

Aug 14 (Reuters) - Oil prices eased on Monday as concerns about China's faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. A stronger dollar pressures oil demand by making the commodity more expensive for buyers holding other currencies. "A rebalancing is overdue but it may need a reality check in the markets stateside," Hari said. In the United States, the number of operating oil rigs held steady at 525 last week, after falling for eight weeks in a row, according to Baker Hughes weekly report. Reporting by Florence Tan in Singapore and Mohi Narayan in New Delhi; Editing by Sonali Paul and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Vandana Hari, Hari, Tina Teng, Brent, Baker Hughes, Florence Tan, Mohi Narayan, Sonali Paul, Tom Hogue Organizations: Brent, West Texas, U.S, Federal, Vanda Insights, CMC, Organization of, Petroleum, International Energy Agency, Thomson Locations: China, OPEC, Saudi Arabia, Russia, Russian, Ukraine, United States, Singapore, New Delhi

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