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☆ NBA player Josh Giddey won’t face charges following investigation into alleged relationship with a minor
▼ + stars: | 2024-01-17 | by ( Jacob Lev | ) edition.cnn.com time to read: +1 min

CNN —Oklahoma City Thunder guard Josh Giddey won’t face charges in California following an investigation into whether the 21-year-old was in a relationship with a minor, police announced. Investigators have been “unable to corroborate any criminal activity” connected to Giddey, the Newport Beach Police Department announced on Wednesday. CNN has reached out to the NBA and the Thunder for comment but did not immediately hear back. In November, police opened an investigation after information began circulating online involving an alleged relationship between Giddey and a female minor. Giddey was asked in November about social media posts suggesting a relationship, to which he said, “I understand the question obviously, but there’s no further comment right now.

Persons: Josh Giddey won’t, Giddey, “, Mark Daigneault, CNN’s Wayne Sterling Organizations: CNN, Oklahoma City Thunder, Newport Beach Police Department, Wednesday, NBA, Thunder, Jazz Locations: California, Giddey, Newport Beach, Salt Lake City , Utah

☆ Dollar at one-month high as rate cut expectations ease on Fedspeak
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: +2 min

The dollar index hovered at a one-month high against a basket of currencies on Wednesday as remarks by Federal Reserve Governor Christopher Waller dampened expectations for a March rate cut. "I will need more information in the coming months confirming or (conceivably) challenging the notion that inflation is moving down sustainably toward our inflation goal," before backing rate cuts, he said on Tuesday. Market expectations of a rate cut in March have eased to a 62.2% chance versus an 76.9% view in the prior session, according to CME's FedWatch Tool. "Rate cuts are coming but not as soon as some might be hoping for," Sycamore said. Meanwhile, the euro was hanging near a one-month low at $1.0875 after its steepest one-day percentage drop in two weeks, following comments from several ECB policymakers this week that maintained uncertainty over the timing of rate cuts.

Persons: Christopher Waller, Waller, CME's, Tony Sycamore, Christine Lagarde, Sycamore, Sterling, Rodrigo Catril Organizations: Federal Reserve, IG, European Central Bank, Treasury, Bank of Japan, National Australia Bank Locations: U.S, Asia

☆ Dollar advances as traders weigh rate cut expectations, eyes on data
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: +4 min

Traders are back projecting cuts of 160 bps this year, up from expectations of 140 bps last week. Chris Weston, head of research at Pepperstone, said the risk is that Waller could push back on market pricing for a March cut and show a lack of urgency to normalize policy. "That said, should he even remotely validate market pricing, then we should see U.S. 2-year bond yields fall further. Markets are pricing around 120 bps of rate cuts by the Bank of England in 2024, with the first one most likely in May. Elsewhere, the Australian dollar fell 0.43% to $0.6632, while the New Zealand dollar fell 0.39% to $0.6176.

Persons: Hamish Pepper, Christopher Waller, Waller, Chris Weston, Weston, Bank's Joachim Nagel Organizations: U.S, Federal, Bank of Japan, Fed, Traders, Asset Management, Treasury, Bank of England, New Zealand Locations: Tokyo, Japan, U.S

☆ Dollar wobbles; yuan on guard ahead of China data dump
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: +3 min

The dollar ebbed on Monday on renewed expectations of a rate cut by the Federal Reserve in March, while the Chinese yuan struggled near a one-month low ahead of a slew of economic data this week. The offshore yuan languished near a one-month low of 7.1925 per dollar hit on Friday, and was last at 7.1861 per dollar. "I think more PBOC (People's Bank of China) easing is coming this year," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "I don't think (Monday's move) will materially weigh on the (yuan) because a rate cut is more or less priced in. The Australian dollar , often used as a liquid proxy for the yuan, edged 0.07% higher to $0.6690.

Persons: China's, Sterling, Chris Weston, Carol Kong, Party's Lai Ching, te, Goldman Sachs Organizations: Federal Reserve, Traders, U.S, Treasury, CPI, PPI, Bank of, People's Bank of China, Commonwealth Bank of Australia, Australian, New Zealand, Democratic, Taiwan Locations: Asia, U.S, Bank of Japan, China, Taiwan

☆ Dollar pares gains on soft U.S. inflation data
▼ + stars: | 2024-01-12 | by ( ) www.cnbc.com time to read: +3 min

The dollar index pared gains on Friday after U.S. producer prices unexpectedly fell in December, raising expectations of an early U.S. rate cut. That led traders to add to bets for a rate cut in the coming months. Fed funds futures now imply a 79% chance of a March rate cut, up from 73% on Thursday, according to the CME Group's FedWatch Tool. Traders maintained their view that a March rate cut is likely even after consumer price inflation data on Thursday came in above economists' expectations. The dollar index was last up 0.19% at 102.40.

Persons: Steve Englander, Englander, Martin Luther King Jr, Sterling, bitcoin Organizations: U.S, British, Global, Research, Standard Chartered Bank, Branch, Traders, U.S . Securities, Exchange Commission, Wednesday Locations: Yichang, Hubei province, U.S, Yemen, America, Zealand, Iran, Red, Gaza

The annual invite-only luncheon honored 10 films and 10 television shows with well-spoken words about each celebrated project followed by a brief clip of a scene. “Welcome to the annual AFI group hug,” institute President Bob Gazzale said as many in the audience chuckled. Robbie chatted for a while with “Oppenheimer” director Christopher Nolan, who eventually pivoted to shake hands with Robbie's “Barbie” castmate America Ferrera. Director Steven Spielberg took photos with “Barbie” director Greta Gerwig. “Thank you all for celebrating the best without making it a competition, just a shared appreciation.

Persons: —, Margot Robbie, Meryl Streep, Leonardo DiCaprio —, “, Bob Gazzale, Robbie chatted, “ Oppenheimer, Christopher Nolan, Robbie's “, ”, Maestro ”, Bradley Cooper, Carey Mulligan, Ali Wong, Ted Sarandos, Jeffrey Wright, Sterling K, Brown, James Marsden, Debra L, Lee, Steven Spielberg, “ Barbie, Greta Gerwig, ” Gazzale, It's, that's, ” “ Barbie, ” “ Maestro, ” “, ” “ Oppenheimer, “ Abbott, Cillian Murphy, Emily Blunt, Jennifer Aniston, Robert Downey Jr, Emma Stone, Selena Gomez, Quinta Brunson, Lily Gladstone, Ayo, Tracee Ellis Ross, Ellen Burstyn, Oscar, Tony Organizations: American Film, AFI, Netflix, BET, ” Films, ” Television, “ Locations: BEVERLY HILLS, Calif, Beverly Hills

☆ Dollar down on day, but off lows after hotter than expected inflation
▼ + stars: | 2024-01-11 | by ( ) www.cnbc.com time to read: +3 min

The headline U.S. Consumer Price Index (CPI) rose 0.3% last month, for an annual gain of 3.4%, against expectations of 0.2% and 3.2%, respectively. Traders are pricing in aggressive expectations for rate cuts this year, with the Fed seen as beginning to cut rates in March. But "today's CPI report suggests that the Fed's initial rate cut may be later than the market is hoping for," said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina. "The question everyone is struggling with is what kind of inflation regime we are in - are we still in a 2010s era of low growth, low inflation and we're still just working through the end of the pandemic adjustment and then we're back into that?" The dollar index was last down 0.05% on the day at 102.29.

Persons: Bitcoin, Adam Button, Quincy Krosby, Button, it's, Loretta Mester, Thomas Barkin, Sterling Organizations: Federal Reserve, Consumer, Index, Fed, ForexLive, Traders, Financial, Cleveland Fed, Richmond Fed, U.S . Securities, Exchange Commission, Wednesday Locations: Toronto, Charlotte , North Carolina, U.S

☆ Dollar gains before inflation data, bitcoin slips
▼ + stars: | 2024-01-09 | by ( ) www.cnbc.com time to read: +3 min

The dollar rose against the euro and yen on Tuesday as traders awaited inflation data on Thursday for clues on when the Federal Reserve is likely to cut rates. But Fed expectations are likely to continue to drive dollar moves. The release on Thursday of the consumer price inflation report for December will be the main piece of economic data this week. If the data confirms that inflation is continuing to moderate it could boost expectations for a March rate cut, though if it comes in above expectations it could also reverse some of that pricing. The U.S. dollar index , which measures the greenback against a basket of six currencies, was last up 0.33% at 102.55.

Persons: Bipan Rai, Kamal Sharma, steepening, Sharma Organizations: Federal Reserve, Securities and Exchange, CIBC Capital Markets, Bank of America, Fed, U.S, Bank of Japan, Investment Locations: North American, Toronto, U.S, Asia, Bitcoin

☆ Offering 5-star travel in your employee benefits package could help your company attract talent and boost retention
▼ + stars: | 2023-12-07 | by ( Mariette Williams | ) www.businessinsider.com time to read: +7 min

A travel benefits package is a company-sponsored plan for employees that can include travel stipends or complimentary flights and hotel stays. With many Americans prioritizing travel, we asked three experts for their advice on how businesses could implement travel perks as part of a company benefits package. "But anything that compensates an employee, including travel benefits, should be taken into consideration when you are trying to attract and retain talent." While a travel benefits package can go far in attracting and retaining talent, it doesn't have to come with a hefty price tag. Though offering travel benefits is a relatively new frontier for companies, the payoff could be a motivated workforce and an attractive way to appeal to top talent.

Persons: —, It's, Barbara Palmer, Jessica Sterling, Heather Rider Hammond, Shea, Palmer, Gravel, Hammond, Foster, Jennifer Kraszewski, Kraszewski Organizations: Service, Recruiting, Broad Perspective, Jessica Sterling Photography, Gravel, Business, Shea Locations: Paycom

☆ Dollar steady as traders weigh labour data, rate outlook
▼ + stars: | 2023-12-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar index , which measures the U.S. currency against six rivals, was 0.019% higher at 103.99, having climbed 0.3% overnight. Data also showed there were 1.34 vacancies for every unemployed person in October, the lowest since August 2021. "This week the highlight is payrolls (report)," OCBC currency strategist Christopher Wong said, adding that a downside surprise could see dollar rebound stall. Investors believe the European Central Bank could deliver its first rate cut by March. Inflation across the euro zone has fallen more quickly than most anticipated, as evidenced by last Thursday's consumer price data.

Persons: Christopher Wong, Jerome Powell, Sterling, bitcoin, — Organizations: Reserve, Traders, ANZ, Fed, Investors, European Central Bank Locations: U.S

☆ Dollar stems decline after heavy November selloff
▼ + stars: | 2023-12-05 | by ( ) www.cnbc.com time to read: +3 min

U.S. dollar banknotes are seen in Chicago on October 18, 2022. The dollar regained some ground on Tuesday and hovered near a one-week high against major peers, while bitcoin extended its momentum on optimism that U.S. regulators could soon approve exchange-traded spot bitcoin funds. The euro , meanwhile, languished near a three-week low hit on Monday and last traded $1.0840, while the dollar index stood near a more than one-week high and was last at 103.59. Analysts say the greenback's move higher was in part due to a reversal of its heavy selloff in recent weeks, which saw the dollar index falling some 3% in November, its steepest monthly decline in a year. In cryptocurrencies, bitcoin last stood at $41,873, not far from the previous session's peak of $42,404, its highest level since April 2022.

Persons: bitcoin, Sean Callow, Thierry Wizman, Bitcoin, Nexo, Antoni Trenchev Organizations: U.S, Westpac, Traders, Federal Reserve, New Zealand, Reserve Bank of Locations: Chicago, Asia, Tokyo, Reserve Bank of Australia

Song’s quietly romantic film, starring Greta Lee and Teo Yoo as childhood friends who reconnect later in life, earned nominations for her direction, script and for both actors. “May December,” about an actress preparing to play a Mary Kay Letourneau-like role got nods for Natalie Portman, Charles Melton and screenwriter Samy Burch. MGM’s “American Fiction,” featuring Jeffrey Wright as a frustrated novelist, got recognition for Wright, Erika Alexander and Sterling K. Brown. Josh Welsh, the president of Film Independent, said the spirit awards look for films and shows that, “demonstrate the uniqueness of vision, original, provocative subject matter, economy of means and diversity, both on screen and off.”The Spirit Awards also recognize television series. Billie Eilish was also nominated for “Swarm.”Saturday Night Live’s Aidy Bryant is hosting the show, which will take place on Feb. 25 in Santa Monica, California.

Persons: Song’s, Greta Lee, Teo Yoo, “, Mary Kay Letourneau, Natalie Portman, Charles Melton, Samy Burch, MGM’s, Jeffrey Wright, Wright, Erika Alexander, Sterling K, Brown . Jefferson, ”, ” Kelly Reichardt’s, Robert Altman, Michelle Williams, André Benjamin, Hong Chau, Judd Hirsch, Amanda Plummer, Alexander Payne's “, Paul Giamatti, Da’Vine Joy Randolph, Dominic Sessa, Payne, Giamatti, Andrew Haigh, Ira Sachs, William Oldroyd, Eileen, Haynes, Song, “ Oppenheimer, Maestro ”, Lee, Yoo, Portman, Jessica Chastain, Monica, Judy Reyes, Andrew Scott, Franz Rogowski, Teyana Taylor, Noah Galvin, Anne Hathaway, Glenn Howerton, Marin Ireland, Catalina Saavedra, Ben Whishaw, Brown, Alexander, Marshawn Lynch, Sandra Hüller, Justine Triet’s “, Jonathan Glazer’s, Iceland’s, Wata, Michelle Yeoh, Ke Huy Quan, Josh Welsh, Steven Yeun, Ali Wong, Bella Ramsey, Murray Bartlett, Nick Offerman, Billie Eilish, Live’s Aidy Bryant Organizations: NFL, ”, Film, “, YouTube Locations: Hong, Melton, Randolph, Poland, Denmark, Santa Monica , California

☆ Bond yields will come down from their fever pitch in 2024. How to prepare your portfolio
▼ + stars: | 2023-12-05 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Expect to work a little harder for those fixed income returns in the new year. As a result, it may be time to start unwinding those big cash positions and adopt a longer-term mentality for fixed income investments. A runup in bond yields is accompanied by a decline in prices, and the two move inversely to one another. The sector "remains well positioned to maintain its high credit quality, driven by solid state credit quality and strong state financial support, despite soft enrollment trends," analyst Kathleen McNamara wrote last week. Consider dollar cost averaging into those longer-dated positions, incrementally building up exposure to intermediate duration bonds.

Persons: Jerome Powell, it's, Kathy Jones, Shannon Saccocia, Jones, Nicholos Venditti, Kathleen McNamara, Schwab's Jones, Barry McAlinden, Michael Bloom Organizations: Schwab Center, Financial Research, Bond, SEC, Muni Bond ETF, Allspring Global Investments, UBS

☆ Dollar rises, recouping losses from strengthened Fed rate cut bets
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

The dollar index, which tracks the currency against six major peers, rose by 0.4% to 103.71, while the euro was last down nearly 0.5% at $1.0828. "I think it's the fact that U.S. policy rate expectations have gone too far and will unwind more in December than rate expectations elsewhere," said Colin Asher, senior economist at lender Mizuho in London. "November was... a very poor month for the U.S. dollar, in part driven by expectations of easier Fed policy," Asher said. The dollar was trading higher against the yen at 147.34, after falling to 146.24 in the Asian session, its lowest since mid-September. "A steady USD decline needs more than just an expectation of Fed rate cuts, it also needs strong growth outside of the U.S. which doesn't seem to be the case currently," said Charu Chanana, market strategist at Saxo Markets.

Persons: Colin Asher, Asher, Sterling, Jerome Powell, Charu, denting, Christine Lagarde Organizations: Federal Reserve, Mizuho, U.S ., Saxo Markets, European Central Bank Locations: London, Germany

☆ Dollar on shaky ground as Fed rate cut bets strengthen
▼ + stars: | 2023-12-04 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

Powell said on Friday it was clear that U.S. monetary policy was slowing the economy as expected, with the benchmark overnight interest rate "well into restrictive territory." The U.S. dollar index , which tracks the currency against six major counterparts, was last hovering around Friday's close at 103.28. That means dollar pairs could continue to get a boost depending on U.S. economic data, Rodda said. Against the yen, the dollar was fetching $146.58 yen , after falling to 146.24 earlier in the session, its lowest since Sept. 11. The yen has recently pulled away from the near 33-year low of 151.92 per dollar touched in the middle of November.

Persons: Jerome Powell, Bitcoin, Powell, Kyle Rodda, Rodda, Sterling, Christine Lagarde, Carol Kong, bitcoin, Brigid Riley, Shri Navaratnam Organizations: Federal, U.S, U.S ., European Central Bank, ECB, Commonwealth Bank of Australia, Thomson Locations: TOKYO, U.S, cryptocurrencies

☆ The secret history of Japan’s best sweets
▼ + stars: | 2023-12-01 | by ( Lilit Marcus | ) edition.cnn.com time to read: +5 min

Many of Japan’s present-day favorite wagashi – sweets – have their origins on Kyushu. Castella (kasutera in Japanese) also makes an appearance in another popular Japanese sweet, dorayaki. Here, the castella cake is thinner and made into a pancake with a layer of sweet red bean paste inside. Europe meets Japan, Japan meets EuropeAnother European sweet that got the Japanese treatment is macarons. For him, it’s a way of honoring Japan’s small producers, in addition to introducing these flavors to the hotel’s guests.

Persons: Joyi Chang, It’s, ”, Michele Abbatemarco, there’s, Margaret, Emperor, –, Miyamoto Shoko, it’s Organizations: CNN, Japan CNN Locations: Kyushu, Japan, Macao, Nagasaki, Portuguese, Japan’s, Portugal, Fukusaya, Fukuoka, Fukusaya’s, Hakata Station, Europe, Otemachi, Saga City, Tokyo, Spain, Netherlands, England

☆ Dollar eases as traders weigh rate cut prospects
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: +3 min

Data on Thursday showed U.S. consumer spending rose moderately in October, while the annual increase in inflation was the smallest in more than 2-1/2 years. "It remains to be seen if getting from 3% to 2% will be easy, or if inflation will remain sticky in 2024." Federal Reserve policymakers signaled on Thursday that the U.S. central bank's interest rate hikes are likely over, but left the door open to further monetary policy tightening should progress on inflation stall. Investor focus will now move to comments from Fed Chair Jerome Powell later on Friday, with traders likely to scrutinize every word to sketch out rate outlook. The Australian dollar rose 0.20% to $0.662, while the New Zealand dollar rose 0.37% to $0.618.

Persons: Ryan Brandham, Jerome Powell, Powell, Carol Kong, Sterling, Toshiro Muto Organizations: Risk, Commonwealth Bank of Australia, Bank of Japan, New Zealand Locations: North America, U.S, Europe

☆ Philips investor Exor: company's problems are "solvable"
▼ + stars: | 2023-11-30 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +2 min

TURIN/AMSTERDAM, Nov 30 (Reuters) - The CEO of Exor NV (EXOR.AS), the largest shareholder in Dutch healthcare equipment maker Philips NV (PHG.AS), on Thursday said he continues to believe the company's problems are solvable. Exor owns a 15% stake in Philips. The recall wiped nearly two-thirds off Philips' stock market valuation and new CEO Roy Jakobs has said that resolving the issue is his top priority. Philips stock is currently trading at 18.77 euros, about 25 cents higher than before Exor announced its investment in August. Exor is the investment arm of Italy's Agnelli family, with investments in manufacturing, sport, media, fashion, healthcare and technology companies.

Persons: John Elkann, Exor, Elkann, Roy Jakobs, Philips, Italy's Agnelli, Guilio Piovaccari, Toby Sterling, Kirsten Donovan Organizations: Exor NV, Philips NV, U.S . Food, Drug Administration, Philips, Exor, Thomson Locations: TURIN, AMSTERDAM, Turin, U.S

☆ Dollar drifts near three-month low, focus on inflation data
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: +3 min

The index is down 3.7% in November on growing expectations the Fed will cut interest rates in the first half of 2024. The dollar clawed back some of its losses on Wednesday after data showed the U.S. economy grew faster in the third quarter than initially reported. "Markets will continue to play to focus on what FOMC officials say about the prospect of the upcoming rate-hike cycle." Two of the best-performers are at the polar opposite ends of the "carry" spectrum — the New Zealand dollar and Japanese yen . On Thursday, yen strengthened 0.09% to 147.11 per dollar, remaining close to two and half month high of 146.675 per dollar it touched on Wednesday.

Persons: Carol Kong, Jerome Powell, Christopher Waller, Christopher Wong, Goldman Sachs, Sterling Organizations: Federal, Commonwealth Bank of Australia, New Zealand, Bank of Japan Locations: U.S

☆ Euro zone inflation dents euro, dollar rises from three-month low
▼ + stars: | 2023-11-30 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

A New Zealand dollar coin sits atop a United States one dollar bill in this photo illustration taken on March 11, 2016. Consumer price growth in the 20 nations that share the euro currency dropped to 2.4% in November from 2.9% in October, well below expectations for a fall to 2.7%. The euro dropped as much as 0.5% against the dollar to $1.0910. The Japanese currency has firmed almost 3% against the dollar in November and is on course for its strongest month this year. Sterling was last at $1.2646, down 0.39% on the day, while the Australian dollar fell 0.1% to $0.6610.

Persons: David Gray, Matthew Landon, disinflation, Landon, ECB policymaker Fabio Panetta, Mohamad Al, Jerome Powell, Christopher Waller, Christopher Wong, Toyoaki Nakamura, Sterling, It's, Samuel Indyk, Ankur Banerjee, Vidya Ranganathan, Kim Coghill, Miral Fahmy, Susan Fenton Organizations: New Zealand, REUTERS, European Central Bank, Morgan Private Bank, ECB, ECB policymaker, Danske Bank, Bank of Japan, Thomson Locations: States, Europe, U.S, London, Singapore

☆ Morning Bid: Vale Charlie Munger
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

Vice-Chairman of Berkshire Hathaway Corporation Charlie Munger speaks to Reuters during an interview in Omaha, Nebraska May 3, 2013. The union of Munger and Warren Buffett is among the most successful in the history of business, transforming Berkshire Hathaway into a multi-billion dollar conglomerate. Often handy with a one-liner Munger summed up his fame in 2010: "I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick," he said. Two-year Treasury yields fell to a four-month low just below 4.70%. Ten-year Treasury yields hit a two-month low of 4.28%.

Persons: Charlie Munger, Lane, Tom Westbrook, Warren Buffett, Berkshire Hathaway, Munger, Christopher Waller, Waller's, China's stockmarkets, Sam Holmes Organizations: Berkshire Hathaway, Reuters, REUTERS, Investors, Swiss, greenback, Spanish CPI, Thomson Locations: Omaha , Nebraska, Munger, Berkshire, Asia, New, Spanish

The New Zealand dollar was last up 1.1% at a four-month high of $0.6207, having blown past resistance. The U.S. dollar, meanwhile, slid to fresh multi-month lows on the euro, yen, sterling, the Australian dollar, yuan and Swiss franc. Overnight Fed Governor Christopher Waller - an influential and previously hawkish voice at the U.S. central bank - told the American Enterprise Institute that rate cuts could begin in a matter of months, provided inflation keeps falling. Fed funds futures rallied on the remark to price more than hundred basis points of cuts in 2024 and 40% chance they begin as soon as March. Two-year Treasury yields fell sharply and along with the dollar fell further still in Asia.

Persons: Christopher Waller, Governor Waller's, Tapas Strickland, Jerome Powell, Waller, CONDITIONALITY Waller's, Seng, Vishnu Varathan, Simon Cameron, Moore Organizations: New Zealand, Nikkei, U.S ., Swiss, U.S, American Enterprise Institute, Governor, National Australia Bank, Fed, HK, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Hong Kong, Sydney, China, Meituan, Zealand, Singapore

☆ Dollar slumps as Fed cuts eyed; Aussie buoyant ahead of inflation data
▼ + stars: | 2023-11-29 | by ( Rae Wee | ) www.reuters.com time to read: +2 min

The Australian dollar held near a four-month peak while the New Zealand dollar scaled a roughly four-month top of $0.61495 in early Asia trade. Australian inflation data is due later in the day, followed by a rate decision from the Reserve Bank of New Zealand (RBNZ). The dollar index was eyeing a nearly 4% loss for November, its worst monthly performance in a year. "We have become less constructive on the prospects for the U.S. dollar, as progress in reducing U.S. inflation suggests the risks are tilted toward earlier rather than later Fed easing," said economists at Wells Fargo in a note. Sterling last bought $1.27105, hovering near the previous session's roughly three-month high of $1.2715.

Persons: Christopher Waller, Kyle Rodda, Sterling, Capital.com's Rodda, Rae Wee, Lincoln Organizations: Federal Reserve, New Zealand, Reserve Bank of New Zealand, Fed, U.S ., Reserve Bank of Australia, Thomson Locations: SINGAPORE, Asia, Wells

☆ Netherlands politician Wilders says minority cabinet an option
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Piroschka van de Wouw Acquire Licensing RightsAMSTERDAM, Nov 29 (Reuters) - Dutch politician Geert Wilders on Wednesday said that forming a minority government with himself as prime minister is one possibility, following last week's election in which his Freedom Party (PVV) won the most seats. The possibility of a minority cabinet arose shortly after the election when the conservative VVD Party of outgoing Prime Minister Mark Rutte -- which shares many of Wilders' anti-immigration positions -- said it would not join a Wilders-led Cabinet but did not exclude offering it outside support. Wilders, whose party took around 24% of the vote, will need to work with at least two more moderate parties to form a coalition. That is the "logical, right combination," Wilders said, adding that the most important thing was that the parties agreed to talks on how they might cooperate. The scout will meet with the NSC and VVD party leaders later on Wednesday.

Persons: Geert Wilders, de Wouw, Wilders, Mark Rutte, Pieter Omtzigt, Toby Sterling, Bernadette Baum Organizations: REUTERS, Rights, Party, VVD Party, VVD, Farmer, Citizen Movement, Thomson Locations: The Hague, Netherlands, Dutch

☆ Prosus reports $2 bln in core earnings, sees e-commerce profitability earlier
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAMSTERDAM, Nov 29 (Reuters) - Prosus NV (PRX.AS), a large technology investor, said on Wednesday its core headline earnings increased 118% in the first half of 2024, citing improved profitability in its stable of e-commerce investments. Core headline earnings for the half year ended on Sept. 30 were $2.0 billion, from $1.1 billion in the same period a year earlier, in line with a Nov. 20 trading statement. Core headlines earnings is a nonstandard measure the company says best reflects its group operating performance. It includes the massive stake Prosus owns in China's Tencent (0700.HK), which the company said has been sold down from 26.2% to 25% to fund a rolling share buyback program. Prosus says share buybacks benefit shareholders because the Tencent stake, now worth $98 billion, is worth about 30% more than Prosus itself.

Persons: Dado Ruvic, Prosus, Tencent, Toby Sterling, Jacqueline Wong Organizations: REUTERS, Rights, Prosus, HK, Thomson

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