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REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsSummary Saudi Arabia and Russia supply cuts to remain until year-endChina's refinery throughput slows from record levelsEuro zone recession fears amplified by PMI dataHOUSTON, Nov 6 (Reuters) - Oil prices edged higher on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Russia also announced it would continue its additional voluntary cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December. Oil prices rebounded after both benchmarks lost about 6% in the week to Nov. 3, as supply concerns driven by Middle East tensions eased. A weaker dollar also helped oil prices. Lower borrowing cost is likely to boost spending and demand for crude oil.

Persons: Agustin Marcarian, John Kilduff, Giovanni Staunovo, Huw Pill, Robert Harvey, Florence Tan, Colleen Howe, Deepa Babington, Mark Potter, Christina Fincher, Bill Berkrot Organizations: REUTERS, PMI, HOUSTON, Brent, U.S, West Texas, Saudi, Investors, Bank of England, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Russia, New York, OPEC, Gaza, U.S, China, Europe

☆ Dollar dips on growing bets Fed rate hikes are over
▼ + stars: | 2023-11-06 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

Comments from other Fed officials will also be evaluated for signs on whether they expect further rate increases. “Next week’s CPI print is going to be the best adjudicator we have on whether or not the Fed needs to hike rates again,” said Rai. The dollar index was last down 0.03% on the day at 105.02 and got as low as 104.84, the weakest since Sept. 20. Cekov said the yen likely needs to be around the 155 per dollar area for Japanese authorities to consider intervention or to talk the currency up. The yen hit 151.74 per dollar last week, edging close to October 2022 lows that spurred several rounds of dollar-selling intervention by the Bank of Japan.

Persons: Dado Ruvic, Jerome Powell, ”, Bipan Rai, “, Rai, Dane Cekov, Cekov, Sterling, Karen Brettell, Samuel Indyk, Jonathan Oatis Organizations: REUTERS, U.S, Federal, CIBC Capital Markets, Market Committee, Bank of Japan, Thomson Locations: North American, Toronto, U.S, London

Gross domestic product (GDP) grew 4.94% annually in the July-September quarter, compared with 5.05% predicted by economists surveyed by Reuters. Growth was 5.17% in the second quarter. In the July-September period, household spending growth decelerated to 5.06%, from 5.22% in the previous three months. A bright spot in the GDP breakdown came from investment, which recorded a 5.77% growth in the third quarter, versus 4.63% in the second quarter. On a non-seasonally adjusted, quarter-on-quarter basis, gross domestic product expanded 1.60% in the July-September period.

Persons: Gayatri Suroyo, Kanupriya Kapoor Organizations: Gross, Reuters, Growth, Bank Indonesia, Thomson Locations: JAKARTA, Asia's, Ukraine, Middle

☆ Japan service activity posts slowest growth this year - PMI
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Nov 6 (Reuters) - Japan's services activity expanded at the slowest pace this year in October, a business survey showed on Monday, reinforcing concerns that the key sector propelling economic growth is continuing to soften. The final au Jibun Bank Service purchasing managers' index (PMI) fell to 51.6 in October from 53.8 in September, beset by weak demand. "While the PMI data continue to make positive reading for the Japanese service sector, the recent trends suggest that growth is on the wane," said Andrew Harker, economics director at S&P Global. Employment returned to growth, but retirements offset the overall pace of job creation, the survey found. The worsening conflict in the Middle East and slower growth in China cloud the outlook for Japan, among the largest economies in the world.

Persons: Andrew Harker, Satoshi Sugiyama, Sam Holmes Organizations: Jibun Bank Service, P Global Intelligence, PMI, P, Employment, Thomson Locations: TOKYO, China, Japan

Asia's imports of seaborne thermal coal climbed to 75.77 million metric tons in October from 70.29 million in September, according to data compiled by commodity analysts Kpler. The October volume was also above the 69.63 million metric tons imported in the same month last year. While physical demand for seaborne thermal coal is solid in Asia, the same can't be said for prices. China mainly buys thermal coal from the two biggest exporters, Indonesia and Australia. Overall, the combination of weaker Chinese domestic prices and waning European demand may prove sufficient to keep pressure on seaborne thermal coal prices in Asia, even if volumes remain solid.

Persons: Loren Elliott, Shri Navaratnam Organizations: Rights, Argus, Newcastle, Reuters, Thomson Locations: Owen, Ravensworth, Australia, Rights LAUNCESTON, Asia, China, India, Japan, South Korea, Indonesia, Beijing, Canberra, Europe, Ukraine, Turkey, South Africa, U.S

Luis Diaz lifted his Liverpool jersey to reveal a T-shirt with the words “Libertad Para Papa” (“Freedom for Papa”) after scoring a late equalizer Sunday in his first appearance for the team since his parents were kidnapped in his native Colombia. Diaz returned to training on Thursday after missing two Liverpool games and said he was ready to play against Luton, with manager Jurgen Klopp selecting him on the bench. "That’s it, for us a super important goal and for him very important and emotional.”Klopp said before the game that “positive” negotiations were taking place about the release of Diaz's father. Tahith Chong looked like being the match-winner for Luton, converting a finish at the end of an 80th-minute counterattack that came after a Liverpool corner. “We pushed a top, top team all the way and we can take a lot of confidence from that.

Persons: Luis Diaz, Papa ”, Diaz, Jurgen Klopp, Harvey Elliott’s, ” Klopp, Klopp, Tahith Chong, ”, Rob Edwards, “, Emi Martinez, Aston Villa, Martinez, Orel Mangala’s, Ola Aina, Unai, Steve Douglas Organizations: Liverpool, Luton, Premier League, National Liberation Army, League's, Luton's, ” Luton, Nottingham Forest, Forest, Villa Locations: Papa, Colombia, Barrancas, Liverpool, Argentina

☆ Opinion | Why Liberal Academia Needs Republican Friends
▼ + stars: | 2023-11-04 | by ( Ross Douthat | ) www.nytimes.com time to read: +1 min

Here are a few snapshots from higher education in America:Under a new provision in state budgeting, public universities in North Carolina will cease funding distinguished professorships in the humanities, reserving them for science, technology, engineering and mathematics. The furor around elite universities over their responses (or non-responses) to Hamas’s massacre in Israel has now inspired a group of white-shoe law firms to collectively demand a stronger response to antisemitism from leading law schools. Ron DeSantis of Florida, in his continuing higher education wars, is trying to shut down pro-Palestinian student groups whose national chapter supported Hamas’s attacks. A new survey from the Foundation for Individual Rights and Expression found weak student support for free speech on campus, and the weakest support among the most liberal students; meanwhile the schools whose students were friendliest to the discussion of unpopular views included the right-leaning Hillsdale College and the self-consciously classically liberal University of Chicago.

Persons: Ron DeSantis Organizations: Gov, Foundation, Rights, Hillsdale College, University of Chicago Locations: America, North Carolina, Hamas’s, Israel, Florida

☆ UK services businesses 'skirt with recession' in Oct-PMI survey
▼ + stars: | 2023-11-03 | by ( David Milliken | ) www.reuters.com time to read: +2 min

The composite PMI - which includes weak data from the smaller manufacturing sector released on Tuesday - rose to 48.7 from 48.5 in September. "Forward-looking survey indicators suggested that service providers will continue to skirt with recession," Tim Moore, economics director at S&P Global, said. "A shallow downturn in UK service sector activity persisted in October as businesses struggled to make headway against a backdrop of worsening domestic economic conditions and stretched household budgets." The services PMI showed the weakest rise in businesses' input costs since February 2021, as falling raw material costs and discounting by suppliers offset continued upward pressure from rising wage bills and fuel costs. Prices charged by services companies rose by the most in three months, although the increases were smaller than in the first half of the year.

Persons: Hannah McKay, Tim Moore, BoE, David Milliken, Susan Fenton Organizations: REUTERS, P, PMI, P Global, Bank of England, Thomson Locations: London, Britain, September's, United States

A woman dressed up as a starving medical student. One woman dressed up as a medical student, holding a begging bowl in her hands. A woman dressed up as a liberal arts student hungry for egg fried rice. Greg Baker/Pool/ReutersTo address these challenges, President Xi Jinping hosted a key financial policy meeting this week to reiterate the need to resolve financial risks in the economy. “Hidden economic and financial risks are still widespread,” the readout said.

Persons: Hong Kong CNN —, ”, Zhou, Xiao Pan, Yan Ziqi, “, Xi Jinping, Greg Baker, Xi Organizations: Hong Kong CNN, CNN, Global, Stock, Huaan Securities, Service, National People's, of, People, Reuters, Communist Party, Ministry of State Security Locations: China, Hong Kong, China’s, Shanghai, Weibo, Douyin, “, Beijing

☆ Here's where the jobs are for October 2023 — in one chart
▼ + stars: | 2023-11-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The October jobs report showed a cooling labor market in the U.S., with many sectors showing minimal or negative growth as the economy added a relatively meager 150,000 jobs overall. If private education was included in that category, as some economists choose to do, there would have 89,000 jobs added in that group. "It's usually a bad thing when job growth is led by the public service, but in this case it is long overdue. The private sector jobs recovery was much stronger and much faster than that of the public sector," said Julia Pollak, chief economist at ZipRecruiter. Information shed 9,000 jobs, while transportation and warehousing lost more than 12,000 jobs.

Persons: Julia Pollak, Pollak Organizations: of Labor Statistics, ZipRecruiter, Manufacturing, BLS, United Auto Workers, Detroit Locations: U.S

☆ Zalando cuts 2023 sales forecast as demand stays weak
▼ + stars: | 2023-11-02 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. Zalando now expects 2023 revenue to fall between 0.5% and 3%, having previously guided to a 1% decline at worst. An unusually warm September weighed on sales of autumn and winter clothes, Zalando said, exacerbating the impact of weak consumer sentiment. Gross merchandise volume - a measure of sales on the platform by Zalando and partner brands - fell by 2.4% from a year ago. The company's market value has dropped over the past two years as shoppers, freed from pandemic restrictions, returned to stores and ordered fewer clothes online.

Persons: Clodagh, Zalando, Clément Génelot, Bryan Garnier, Zalando's, Génelot, Gross, Helen Reid, Christian Schmollinger, Sonali Paul Organizations: REUTERS, Thomson Locations: Galway, Ireland, Paris, Germany, Austria, Switzerland

☆ A Tangle of Rules to Protect America’s Water Is Falling Short
▼ + stars: | 2023-11-02 | by ( Dionne Searcey | Delger Erdenesanaa | ) www.nytimes.com time to read: +18 min

UNCHARTED WATERS A Tangle of Rules to Protect America’s Water Is Falling Short The Times asked all 50 states how they manage groundwater. California’s State Water Resources Control Board provides a list of some 85 firms that help clients who have questions about water rights there. Irrigated acres 0 10 100 200 thousand 1987 2017 MISSOURI MISSOURI ARKANSAS ARKANSAS MISSISSIPPI MISSISSIPPI LOUISIANA LOUISIANA Irrigated acres 0 10 100 200 thousand 1987 2017 MISSOURI MISSOURI ARKANSAS ARKANSAS MISSISSIPPI MISSISSIPPI LOUISIANA LOUISIANA Irrigated acres 0 10 100 200 thousand 1987 2017 MISSOURI MISSOURI ARKANSAS ARKANSAS MISSISSIPPI MISSISSIPPI LOUISIANA LOUISIANA Irrigated acres 0 10 100 200 thousand 1987 2017 MO. “When Tennessee pumps groundwater, it is pumping water located within its own territory,” the 2021 ruling said. One practical problem The Times’s research identified is that state water authorities are often small operations relative to their sprawling responsibilities and the growing danger of aquifer damage.

Persons: don’t, Matthew Staver, ”, Christopher Neel, Chris Scheuring, Reba Epler, Mira Rojanasakul, “ We’re, Andrew Sheeley, Mike Parson, Jeff Roberson, Dave Owen, Ron Wyden, who’s, “ We’ve, Ryan Gordon, Mark Rogers, Gabriel Eckstein, Jeremy Manley, Cody Smith, Jake Parrish, Sharon Megdal, Elizabeth Cisar, “, ’, Dr, Gordon, Ariz, Rebecca Noble Organizations: Times, MISSOURI TEXAS, VERMONT, New York Times, The New York Times, Oklahoma Water Resources Board, California Farm Bureau, Nationwide, Arup, Water Resources Control, Congress, MISSOURI MISSOURI ARKANSAS, Missouri Department of Natural, Associated Press, UC Law San, Energy, Power, WASHINGTON, Maine Geological Survey, United States Geological Survey, United States Supreme, Associated, Texas, M University, Staff, State Engineer’s Office, Yakima Herald -, Water Resources Research Center, University of Arizona, Joyce Foundation, The New York Locations: America’s, . TEXAS MISSOURI VERMONT, MISSOURI, MISSOURI TEXAS VERMONT, VERMONT, TEXAS MISSOURI, MISSOURI TEXAS, Oklahoma, Kansas, . Oklahoma, California, American, Wyoming, New Mexico, Wisconsin, Great, Mississippi, Missouri , Arkansas, Louisiana, MISSOURI MISSOURI ARKANSAS ARKANSAS MISSISSIPPI MISSISSIPPI LOUISIANA LOUISIANA, . LA, LA, Missouri, Missouri Department of Natural Resources . Missouri, Ozark, States, Kentucky, Vermont, Oregon, In Texas, United States, WASHINGTON ARKANSAS, ARKANSAS WASHINGTON, Maine, Tennessee, Memphis, Muleshoe , Texas, When Tennessee, Minnesota, Blaine, ’, Laramie County, Sunnyside, Wash, Yakima, Yakima Herald - Republic, Colorado, Maryland, In Illinois, Illinois, ”, Arizona, Phoenix, In Kansas, Washington, Hope

☆ Li Keqiang: Death of China’s former premier offers glimpse into discontent with Xi Jinping
▼ + stars: | 2023-11-01 | by ( Cnn Staff | ) edition.cnn.com time to read: +11 min

CNN —The sudden death of China’s former Premier Li Keqiang has spurred an outpouring of grief and mourning across the country. But for many, it also appears to offer a rare opening to air pent-up discontent with top leader Xi Jinping and the direction he has taken the country. His death, just months after his retirement, shocked the Chinese public. German Chancellor Angela Merkel and Chinese Premier Li Keqiang review a guard of honor prior to a meeting at the Chancellery on July 9, 2018 in Berlin, Germany. Chinese Premier Li Keqiang visits a hospital in Wuhan on January 27, 2020, days after the city was placed under a complete lockdown to curb the raging Covid-19 outbreak.

Persons: Li Keqiang, Xi Jinping, Li, Xi –, ”, Alfred Wu, Lee, “, Xi, Angela Merkel, Sean Gallup, Zhang Lun, Mao Zedong, Zhang, “ I’ve, Wu, Li Tao, Zhou Enlai, Mao, Hu Yaobang, Fish Leong, ” Zhang Organizations: CNN, Communist, Lee Kuan Yew, of Public Policy, Getty, Studies, University of Cergy, Peking University, Li, AP Party, Communist Party, Xinhua, CPC, Party Locations: Shanghai, China, Singapore, German, Berlin, Germany, Pontoise, France, Communist China, Wuhan, AFP, Yunnan province, Weibo, Malaysian, Hefei, Anhui, Zhengzhou, Henan, Beijing

With the economy stumbling along slower than the Bank of Canada forecast just last week, analysts said there is no need to raise rates again from 5.0%, a 22-year high. July GDP was revised to being marginally negative from an initial report of zero growth, Statistics Canada said. This data reaffirms our view that the Bank of Canada is done raising rates for this cycle," Figueiredo said. The central bank has said its previous rate hikes are sinking in. The projected contraction in third-quarter annualized growth is far lower than the Bank of Canada (BoC) forecast last week.

Persons: Chris Helgren, Tiago Figueiredo, Figueiredo, Macklem, Benjamin Reitzes, Reitzes, Ismail Shakil, Steve Scherer, Dale Smith, Jonathan Oatis Organizations: Roberts Bank, REUTERS, Rights OTTAWA, Bank of Canada, Canadian, Reuters, Statistics, BoC, BMO Capital Markets, Thomson Locations: Delta, British Columbia, Canada, Canadian, Statistics Canada, Ottawa

People walk in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/ File photo Acquire Licensing RightsOct 31 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Will the BOJ spook markets on Halloween and the final trading day of the month by effectively tightening monetary policy further with another tweak to its 'yield curve control' policy? Inflation in Japan has finally taken off, and for the first time in decades, appears to be sticking well above 2%. Here are key developments that could provide more direction to markets on Tuesday:- Bank of Japan policy decision- China PMIs (October)- Japan unemployment, industrial production, retail sales (September)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Jamie McGeever, Will, Government Bonds, China PMIs Organizations: REUTERS, Bank of, U.S . Federal, Bank of England, Nikkei, Japan, Government, PMI, Bank of Japan, Thomson, Reuters Locations: Japan, Tokyo, Hong Kong, Taiwan, China

☆ Cramer: This market has put investors in a box. This is how we break out of it
▼ + stars: | 2023-10-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

How can you not keep the federal funds rate higher for longer when you get a U.S. GDP number that surpasses the real GDP of China. He sees the three Oreos taken out of the bag and the higher price nonetheless. The average person hurt by higher rates is collateral damage to the greater anti-inflation mission. All the market has to do is reach a price level that is too darned compelling. And who says we won't see higher rates until the horizon is at last upon us?

Persons: aren't, Estee Lauder, Jerome Powell, Powell, it's, He's, calvary, Jim Cramer's, Jim Cramer, Jim, Squawk, Virginia Sherwood Organizations: Treasury, Signature Bank, Silicon Valley Bank, First, Bank, Federal Reserve, Disney, Fed, Costco, Homes, Jim Cramer's Charitable, CNBC Locations: U.S, China, Russia, Saudi Arabia

☆ China's Sept industrial profits extend gains helped by policy support
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Gabriel Crossley/File Photo Acquire Licensing RightsBEIJING, Oct 27 (Reuters) - Profits at China's industrial firms extended gains for a second month in September, adding to signs of a stabilising economy as the authorities launched a burst of supportive policy measures. For the first nine months, profits slid 9% from a year earlier, narrowing from a 11.7% decline in the first eight months, data from the National Bureau of Statistics (NBS) showed on Friday. A fall in producer prices last month indicated that some industrial firms were still cutting prices to promote sales, putting a drag on overall industrial revenues and profits, Zhou said. The improvement in industrial profits is expected to sustain in the coming months, partly due to the lag effect in domestic macro pump-priming, he added. Industrial profit numbers cover firms with annual revenues of at least 20 million yuan ($2.73 million) from their main operations.

Persons: Gabriel Crossley, Yu Weining, Zhou Maohua, Zhou, Pan Gongsheng, Qiaoyi Li, Ryan Woo, Jacqueline Wong Organizations: II, REUTERS, Rights, National Bureau of Statistics, Graphics, NBS, China Everbright Bank, Thomson Locations: Jiujiang, Jiangxi province, China, Rights BEIJING

The second largest contributor to real gross domestic product growth in the third quarter came from business inventories (1.3 percentage points). South Korea's KOSPI-100 equity index, which is usually a good proxy for global trade given its heavy weighting towards export-oriented firms, rebounded strongly through the end of July. But the index has since weakened, consistent with the renewed downturn in volumes shown in the global trade index. UNCERTAINTYUncertainty about the economic outlook and ambiguous data are usually greatest around turning points in the business cycle. Related columns:- Persistent U.S. services inflation dampens oil outlook (October 13, 2023)- U.S. manufacturing rebound will stretch diesel supplies (October 5, 2023)- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.

Persons: Stringer, Korea's, John Kemp, David Evans Organizations: REUTERS, Global, Economic, Service, Real, Ministry of Transport, Treasury, Thomson, Reuters Locations: Qingdao, Shandong province, China, United States, Netherlands, CHINA, ASIA, Singapore, Asia, Europe, Japan, Narita, EUROPE Europe, Ukraine, Germany, doldrums

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsOct 27 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. This is the backdrop to Friday's open in Asia, where Japanese economic data, bonds, and currency will again be under intense scrutiny ahead of next week's Bank of Japan policy meeting. The main data release in Asia on Friday will be consumer price inflation in Tokyo for September. In China, meanwhile, industrial sector profit figures for the first nine months of the year are on the docket Friday.

Persons: Issei Kato, Jamie McGeever, JP Morgan, Fumio Kishida, Marguerita Choy Organizations: Bank of Japan, REUTERS, Nasdaq, week's Bank of Japan, Reuters, Barclays, UBS, Japanese, China's, Thomson Locations: Tokyo, Japan, Asia, China, YTD, Australia

SAN FRANCISCO (AP) — Ford on Thursday reported significant growth in the third quarter, although its financial results fell short of Wall Street estimates. The results came out just a day after Ford reached a tentative contract agreement with the United Auto Workers union. The Ford deal could set the pattern for agreements with the other two automakers, where workers will remain on strike. The UAW called on all workers at Ford to return to their jobs and said that will put pressure on GM and Stellantis to bargain. Shares in Ford Motor Co., which is based in Dearborn, Michigan, were down 3.4% in after-hours trading following the earnings report.

Persons: — Ford, Ford, John Lawler, Lawler, “ We’re, ”, Farley, Kumar Galhotra, “, Shawn Fain, Tom Krisher Organizations: FRANCISCO, Ford, EV, United Auto Workers, General Motors, UAW, Ford Motor Co, Associated Press Locations: Kentucky, Marshall , Michigan, Dearborn , Michigan, Detroit

☆ Morning Bid: ECB on hold, five's alive in the US
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

A view shows the European Central Bank (ECB) flag and the flag of the European Union in front of the ECB Building in Frankfurt, Germany, September 14, 2023. All 85 economists polled by Reuters last week expected the European Central Bank to stay on hold. Israel bombarded Hamas targets as it prepared for a ground invasion, with Russia warning the conflict could spread beyond the Middle East. Russia said it successfully tested its ability to deliver a massive retaliatory nuclear strike by land, sea and air. Reuters GraphicsKey developments that could influence markets on Thursday:Economics: European Central Bank meeting, U.S. GDPEarnings: Unilever, Mercedes, Standard Chartered and, after market close, AmazonReporting by Tom Westbrook.

Persons: Wolfgang Rattay, Tom Westbrook, Mike Johnson, Trump, Ted Pick, James Gorman, Morgan Stanley, Pick, Israel, Sam Holmes Organizations: European Central Bank, European Union, REUTERS, Reuters, Unilever, Mercedes, Treasury, Nasdaq, Republican, United Auto Workers, Ford, Standard Chartered, Amazon, Thomson Locations: Frankfurt, Germany, Asia, U.S, Louisiana, Ukraine, Russia, East

☆ Europe's ESG funds suffer more outflows - Morningstar
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

Investors pulled 20.5 billion euros ($21.7 billion) from funds in the European Union's lower sustainability classification, while net inflows into the higher classification were their lowest since early 2021, the Morningstar report said. U.S sustainability funds are also struggling. Morningstar data on Tuesday showed managers closing funds faster than they opened new ones in the third quarter. Investors exited U.S. funds in general in the period but sustainable funds fared worse, registering their fourth consecutive quarter of outflows. In Europe, ESG funds launches totalled 126 in the third quarter, down 31% from the second quarter, Morningstar said.

Persons: Morningstar, Tommy Reggiori Wilkes, David Evans Organizations: Investors, Investment, Sustainable, Morningstar, Thomson Locations: outflows, Europe, U.S

Expectations for persistently higher interest rates has led companies to alter plans as they eye 2024 warily. "EV demand next year could be lower than expectations," Lee Chang-sil, chief financial officer at South Korean battery maker LG Energy Solution (373220.KS) said on Wednesday, due to global economic uncertainty. GM on Tuesday said it would focus near-term EV efforts on meeting demand rather than hitting specific volume targets. If interest rates remain high or if they go even higher, it's that much harder for people to buy the car." Like many other industrial firms, carmakers hedge against commodity price swings, and with EV demand slowing, raw material prices have softened, including those used heavily in batteries.

Persons: Tesla, Aly, Lee Chang, Mary Barra, Elon Musk, Nidec, China's CATL, Ben Klayman, David Gaffen, Eric Onstad, Jonathan Oatis Organizations: REUTERS, Honda, EV, sil, South, LG Energy, General Motors, GM, Investors, Tech, Cox Automotive, European Union, Volkswagen, Fastmarkets, CME, U.S, Ford, EVs, Victoria Waldersee, Thomson Locations: Tesla China, Shanghai, China, KS, United States, Mexico, Detroit, New York, London, Berlin

☆ Canadian dollar hits 7-month low as BoC stays sidelined
▼ + stars: | 2023-10-25 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The Canadian central bank held its key overnight rate at a 22-year high of 5.0%, as expected, for a second straight meeting. Wall Street fell after lackluster corporate results, while the U.S. dollar (.DXY) rallied against a basket of major currencies. Canadian government bond yields were higher across a steeper curve but the move for shorter-dated maturities was less than for the equivalent U.S. Treasury yields. The 2-year rose 2.9 basis points to 4.749%, while the 10-year was up 11.3 basis points at 4.131%.

Persons: Mark Blinch, Tom O'Gorman, we're, Michael Goshko, maturities, Fergal Smith, Sandra Maler Organizations: REUTERS, greenback, BoC, Canadian, U.S, Bank of, Franklin Templeton, Convera Canada, U.S ., Treasury, Thomson Locations: Toronto, TORONTO, Canadian, Franklin Templeton Canada, Wall

☆ GE halves LEAP engine delivery growth target for 2024
▼ + stars: | 2023-10-24 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

In an interview, CEO Larry Culp said the company is aiming for a 20% to 25% year-on-year increase in the engine deliveries in 2024, lower than a revised 40% to 45% annual growth this year. Still, hitting the target will not be easy as it requires quarter-on-quarter improvements in the supply chain, he said. LEAP engines, which GE produces in a joint venture with France's Safran (SAF.PA), power the narrowbody aircraft of Boeing Co (BA.N) and Airbus (AIR.PA). It forced GE to trim the delivery growth target for LEAP engines this year by at least 5 percentage points and push out some of the deliveries into 2024 and 2025. But the demand for both aftermarket services and new engine deliveries is so strong that GE and its suppliers need to do more, Culp said.

Persons: Larry Culp mingles, Alwyn Scott, Larry Culp, France's Safran, delinquencies, Pratt, Culp, airframers, " Culp, Rajesh Kumar Singh, Jonathan Oatis Organizations: Electric Co, REUTERS, Rights, General, Reuters, GE, Boeing Co, Airbus, Boeing, Thomson Locations: Tarrytown , New York, U.S

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