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☆ As Russia Strikes on Ukraine's Ports, White House Warns Ships May Be Next
▼ + stars: | 2023-07-20 | by ( Safak Timur | ) www.nytimes.com time to read: +7 min

Russia’s moves have profound implications for the export of Ukraine’s grain, a commodity vital for its own economy and world grain markets. How have Russia’s attacks on Ukrainian ports affected the situation? Since Monday’s announcement, Russia has launched a series of nightly aerial attacks on Ukrainian ports, killing and wounding civilians. Six nations have a Black Sea coastline and it is a main conduit for Russia’s grain exports. Last summer, the European Union took steps to smooth a path for Ukraine’s overland grain exports, given the Russian Black Sea blockade.

Persons: Sal Gilbertie, Oleksandr Gimanov, Volodymyr Zelensky, António Guterres, Chris Mcgrath, Vladimir V, Putin, Recep Tayyip Erdogan, Reni, Benoît Fayaud, Arif Husain, ”, Maciek, Mateusz Morawiecki, ” Monika Pronczuk Organizations: Ministry of Defense, Initiative, World Food, ., Agence France, United Nations, Getty, Strategie, European Union, The New York Times Ministers Locations: Kushuhum, Ukraine’s, Zaporizhzhia, Russia, Moscow, Ukraine, U.S, Chornomorsk, Odesa, Turkey, Istanbul, China, Poland, Izmail, Romanian, Constanta, Russian, Bulgaria, Hungary, Romania, Slovakia

The government said it was imposing the ban after retail rice prices climbed 3% in a month as late monsoon rains damaged crops. While a late monsoon caused a major shortfall of rain up to mid-June, heavy rains since have caused significant damage. India accounts for more than 40% of world rice exports but low inventories mean any cut in shipments will fuel food prices driven up by Russia's invasion of Ukraine last year and erratic weather. His administration has extended a ban on wheat exports after curbing rice shipments in September 2022. "India would disrupt the global rice market with far greater velocity than Ukraine did in the wheat market with Russia's invasion," B.V. Krishna Rao, president of the Rice Exporters Association told Reuters.

Persons: Rice, Narendra Modi, Krishna Rao, Rao, El, Michael Hogan, Jan Harvey, David Evans, Conor Humphries Organizations: Rice, Association, Reuters, El, Farmers, El Nino, Thomson Locations: India, Ukraine, DELHI, Asia, Thailand, Vietnam, New Delhi, Punjab, Haryana, Rice, West Bengal, Bihar, Chhattisgarh, Andhra Pradesh, Telangana, China, Philippines, Hamburg

☆ India triggers inflation fears after imposing major rice export ban
▼ + stars: | 2023-07-20 | by ( ) edition.cnn.com time to read: +4 min

The government said it was imposing a ban on non-basmati white rice after retail rice prices climbed 3% in a month after late but heavy monsoon rains caused significant damage to crops. The category impacted, non-basmati white and broken rice, accounted for around 10 million tons of a total of 22 million tons of Indian rice exports last year. His administration has extended a ban on wheat exports after curbing rice shipments in September 2022. Vietnam’s 5% broken rice was offered at $515 to $525 per metric ton, its highest since 2011. Buyers may move to Thailand and Vietnam, but their 5% broken rice could cost $600 per metric ton, said one European trader.

Persons: Narendra Modi, B.V, Krishna Rao, Rice, ” Rao, Rao, El Organizations: Delhi Reuters, Rice, Association, Reuters, El Nino Locations: Delhi, India, Ukraine, Asia, Thailand, Vietnam, New Delhi, Benin, Senegal, Ivory Coast, Togo, Guinea, Bangladesh, Nepal, Punjab, Haryana, Rice, China, Philippines

☆ Why NASA's Artemis program is the only moon-return mission since Apollo to survive 2 successive US presidents and our best chance of actually returning humans to the lunar surface
▼ + stars: | 2023-07-19 | by ( Mariel Borowitz | The Conversation | ) www.businessinsider.com time to read: +8 min

The Artemis program marks the first time since the Apollo program that an effort to send humans to the moon has been supported by two successive US presidents. Some, like Japan-based iSpace and US-based Astrobotic, are developing commercial lunar landers and have plans to eventually collect lunar resources, such as water or minerals. Just as the United States is leveraging commercial developments, the US is working with international partners, as well. The United States is also seeking international support for the Artemis Accords, a set of principles for responsible lunar exploration and development. It's worth noting that China's lunar program also emphasizes international engagement.

Persons: it's, Artemis, Christina Hammock Koch, Reid Wiseman, Victor Glover, Jeremy Hansen, Wang Yaping, Gene Kim, Bill Nelson Organizations: Service, NASA, European Space Agency, SpaceX, Companies, Canadian Space Agency, United Nations, US Space Force, Air Force Research Laboratory, Oracle, Military, Artemis Accords, United, United Arab Emirates, Lunar Research Locations: China, Wall, Silicon, Japan, United States, Soviet, Europe, Canada, United Kingdom, Rwanda, Nigeria, United Arab, India, Russia, Sweden, France, Italy, Pakistan, United Arab Emirates

U.S. stocks have made big gains this year, but the performance across global stocks has been uneven so far. So where will global stocks go in the second half of the year? Five of the strategists polled expect global markets to fall, while another five say the stocks will beat their U.S. counterparts. Global market bulls Those who expect global stocks to beat the U.S. are most bullish on the U.K., Europe and Japan. Global market bears Andreas Bruckner, European equity strategist at BofA Global Research, predicts that Europe's Stoxx 600 will end the year at 390 — a nearly 15% decline from Monday's close.

Persons: Christian Abuide, Karim Chedid, Liz Ann Sonders, Charles Schwab, Andreas Bruckner, Mark Haefele, Bruckner, Roger Lee, Lee, Haefele, Carrier Organizations: CNBC Pro, U.S, Lombard, iShares, BofA Global Research, UBS Global Wealth, Nasdaq, UBS, RBC Wealth Management Locations: Japan, China, U.S, Europe

In June, the U.S. National Oceanic and Atmospheric Administration (NOAA) declared that an El Nino is now under way. Meteorologists expect that this El Nino, coupled with excess warming from climate change, will see the world grapple with record-high temperatures. Here is how El Nino will unfold and some of the weather we might expect:WHAT CAUSES AN EL NINO? El Nino could offer a reprieve to the Horn of Africa, which recently suffered five consecutive failed rainy seasons. Historically, both El Nino and La Nina have occurred about every two to seven years on average, with El Nino lasting 9 to 12 months.

Persons: Kim Hong, heatwaves, El, El Nino, Michelle L'Heureux, Tom DiLiberto, DiLiberto, La Nina, Nina, Gloria Dickie, Jake Spring, Angus MacSwan, Sandra Maler Organizations: REUTERS, Nino, Reuters, El Nino, U.S . National Oceanic, Atmospheric Administration, NOAA, El, Graphics, el nino, NINO, U.S . West, La, Sao Paulo, Thomson Locations: Cheongju, South Korea, China, United States, Beijing, Rome, Americas, Asia, El, Pacific, Peru, Philippines, Canada, Central, South America, Australia, of Africa, Eastern Pacific, El Nino, London, Sao

Earlier this month, U.S. Treasury Secretary Janet Yellen said contributions from Beijing could boost U.N. climate funds. It has, however, signalled a willingness to offer climate finance to developing countries through different instruments, like a South-South Climate Cooperation fund it launched in 2015. And the United States hopes that China will unveil its domestic plans to tackle the issue before the next U.N. climate conference in December. Global emissions levels have only risen since. The United States tends to look at overall national emissions, ignoring both historical emissions and the per-capita breakdown.

Persons: Janet Yellen, Donald Trump's, Joe Biden, John Kerry, Xie Zhenhua, Kerry, Xie, David Stanway, Katy Daigle, Jacqueline Wong Organizations: European Union, Treasury, Climate Cooperation, Technological, Biden, Kerry, Microvast Holdings, Global, European, Thomson Locations: BEIJING, China, United, Beijing, U.S, U.N, Rio de Janeiro, United States, Xinjiang, Paris, Glasgow, 1.5C, European Union, COP28, Dubai, Singapore

☆ Russia axes grain deal: What you need to know
▼ + stars: | 2023-07-17 | 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 EmailRussia axes grain deal: What you need to knowThe Kremlin has axed the UN-brokered Black Sea grain deal. The agreement allowed Ukrainian grains to be shipped to global markets during wartime. Global wheat prices have spiked as the news broke.

Organizations: UN

Potential buyers and sellers are also being deterred by the long wait for deal approvals by regulators, the experts said. The uncertainty over capital rules has created a "chilling effect" that could put a lid on mergers, while rising interest rates and a looming economic downturn could also damp activity, Adams said. That compares to $3.9 billion in bank deals for non-stressed institutions, the lowest seen over the first half of a year since 2010. "Instead of evaluating mergers based on competition and the needs of the community, political factors have become too important," she said. Regional banks will "have incentives to merge and reach larger scale since they will be subject to more regulatory scrutiny and capital,” Johnson said.

Persons: ”, Timothy Adams, Adams, Michael Barr, “, Meg Tahyar, Davis Polk, Janet Yellen, Tim Johnson, ” Johnson, Tatiana Bautzer, Saeed Azhar, Nupur Anand, Pete Schroeder, Lananh Nguyen, Deepa Babington Organizations: YORK, Institute of International Finance, Global, Federal, Treasury, Dominion Bank, First, KPMG, Thomson Locations: U.S, Canada's Toronto

☆ Europe weather: Second heat wave in a week brings soaring temperatures and raging fires
▼ + stars: | 2023-07-17 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

In Italy, which has been particularly hard hit, temperatures in many cities are expected to soar above 40 degrees Celsius (104 Fahrenheit). In Spain, temperatures in the cities of Seville, Cordoba and Granada have reached 40 degrees Celsius. Even the normally cooler region of Navarra in the north of the country is experiencing up to 40 degrees Celsius. Firefighters have controlled the fire and it’s not yet clear if the region’s high temperatures played any role. While in the US, California’s Death Valley reached nearly 52 degrees Celsius (125.6) on Sunday.

Persons: Gregorio Borgia, Tiziana Fabi, Andres Gutierrez, EIRIF Handout, Catania, Niño, ” Christopher Hewitt Organizations: CNN, European Space Agency, ESA, Getty, La Palma, Anadolu Agency, Reuters, Firefighters, World Meteorological, WMO Locations: Europe, Italy, Spain, Greece, North Africa, Rome, Florence, Popolo, AFP, Athens, Seville, Cordoba, Granada, Navarra, La, Spain’s Canary, La Palma, Canary Islands, Tijarafe, Tenerife, Peloponnese, Catania, Sicily, China

☆ When El Niño exacerbates global warming: Record heat, record flooding, record wildfires
▼ + stars: | 2023-07-15 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

Brown | Afp | Getty ImagesIf you feel like record-level extreme weather events are happening with alarming frequency, you're not alone. Global warming is making extreme weather events more severe, scientists said. But what is clear is that climate change makes it more likely that an extreme weather event will happen. "Higher temperatures from climate change are indisputable, and with each degree increase we're multiplying our changes of getting an extreme heat wave. Decreasing the greenhouse gas emissions released into the atmosphere by burning fossil fuels will help moderate the extreme weather trends.

Persons: Rai Rogers, Frederic J, Brown, Michael Mann, Brandon Bell, Phil Scott, Paul Ullrich, Mann, Ullrich, Justin Trudeau, El Niño, Timothy Canty, Canty, they're Organizations: Afp, Getty, University of Pennsylvania, CNBC, National Oceanic, Atmospheric Administration, NOAA, National Weather Service, Prediction, EMT, Emergency, Washington Post, The Washington Post, Anadolu Agency, University of California, Global, Wildfire, Bloomberg, University of Maryland, Government, Montreal Locations: Las Vegas , Nevada, California, Texas, Florida, United States, Northern, West Coast, Phoenix , Arizona, Nevada, Arizona, Montpelier , Vermont, Vermont, Canada, New York City, Anadolu, Davis, Lytton , British Columbia, El, Americas, Gulf, Pacific Northwest, Ohio, Northeastern, Ankara, Turkiye, Montreal

☆ 'Undeniably vast' opportunity: Bank of America names generative A.I. global 'winners'
▼ + stars: | 2023-07-14 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Bank of America has dubbed global companies exposed to the demand for generative artificial intelligence solutions as "winners," picking stocks across the software and IT services sectors. It described the AI opportunity within the software industry as "undeniably vast" in a research note dated 12 July, and ranked European companies in the sector. "Huge quantities of data about a company's operations are held within a company's ERP system which makes the software vital in any generative AI integration," BofA's analysts stated. "We see gen AI as an opportunity for the Software industry to derive both potential revenue uplift via enhanced value proposition and data monetization, alongside productivity improvements," the bank said. BofA also looked at the effect of generative AI on the IT services industry and said implications "are the most polarised," noting concerns over drops in sales due to tasks being automated.

Persons: BofA, Frederic Boulan, — CNBC's Michael Bloom Organizations: of America, Dassault Systemes, SAP, Software, IT, International Data Corporation Locations: French, German

☆ Capital One Venture vs. Chase Sapphire Preferred: Which is right for you?
▼ + stars: | 2023-07-13 | by ( Ariana Arghandewal | ) edition.cnn.com time to read: +13 min

Here’s a look at the Capital One Venture vs. Chase Sapphire Preferred. Capital One Venture vs. Chase Sapphire PreferredFirst, let’s take a look at all the key details of these two cards side-by-side:Capital One Venture Rewards Credit Card Chase Sapphire Preferred Card Welcome bonus 75,000 bonus miles after spending $4,000 on the card in the first three months. The Capital One Venture and the Chase Sapphire Preferred are two popular rewards credit cards that offer a variety of benefits to cardholders. Getty ImagesThe Chase Sapphire Preferred has better travel and purchase protections than the Capital One Venture. Capital One Venture Rewards Credit Chase Sapphire Preferred Card Extended warranty Yes.

Persons: Chase, We’ll, you’re, Chase doesn’t, United MileagePlus, Wyndham Organizations: CNN, American Express, Chase, Capital, One Venture, Venture, Chase Sapphire Preferred, Chase Sapphire, Rewards, Hertz, Sapphire, TSA Precheck, Preferred, Rapid, Hyatt, Sapphire Preferred, Air France, KLM, Blue, Air Canada Aeroplan, British Airways Executive Club, Emirates Skywards, Singapore Airlines, Turkish Airlines Miles, Aeromexico Club Premier Air Canada Aeroplan Air France, British Airways Executive Club Cathay, Asia Miles Emirates, Etihad, Finnair, Qantas Frequent Flyer Singapore Airlines KrisFlyer TAP Air Portugal Turkish Airlines Miles, Smiles, Airlines Aer Lingus AerClub Air Canada Aeroplan Air France, KLM Flying Blue British Airways Executive Club Emirates, JetBlue, United, Virgin Atlantic Flying, Travel, Auto, Chase Capital Locations: Air, Hawaii, United, Iberia

☆ Barry's CEO went from joining the gym to running the business in 11 years: I 'never expect to know what's next'
▼ + stars: | 2023-07-12 | by ( Chris Dilella | ) www.cnbc.com time to read: +10 min

In 2004, at the age of 26, Gonzalez took his first Barry's Bootcamp class in West Hollywood. "I had someone that I was dating at the time kind of challenged me to take a class," Gonzalez recalls. In 1998, entrepreneur Barry Jay established the inaugural Barry's Bootcamp in West Hollywood. And that was really how I like cut my teeth and got, you know, even more obsessed with the business," Gonzalez says. Joey Gonzalez Barry's CEOAfter North Castle Partners invested and named him CEO in 2015, Gonzalez started to build a strong leadership team.

Persons: Joey Gonzalez, Little, Gonzalez, Barry Jay, Barry's, Jonathan, Francesca, Jake, I've, What's Organizations: Entertainment, Barry's, Big Apple, North Castle Partners, Harvard Business School Locations: —, Los Angeles, West Hollywood, New York City, Cuban, Italian, Chicago, Instagram, COVID, Austin, Denver, New York, LA, Frankfurt, Berlin, Copenhagen, San Francisco

☆ US airline stock valuations stuck on runway despite travel boom
▼ + stars: | 2023-07-12 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

REUTERS/Jim Vondruska/File PhotoCHICAGO, July 12 (Reuters) - Relentless travel demand has sent bookings at U.S. carriers soaring, translating into bumper earnings. Airline shares have suffered because of bearish sentiment about the broader economy as interest rates are up sharply and inflation remains high, analysts said. There are still no signs of air travel demand waning as ticket purchases for the rest of 2023 are up 4%, said Steve Solomon, ARC's chief commercial officer. Believers in airline stocks have seen signs of hope this year. Global Investors' Holmes said airline shares are poised for even more gains.

Persons: Jim Vondruska, Refinitiv, Jefferies, Sheila Kahyaoglu, TD Cowen, Frank Holmes, Steve Solomon, Hopper, Hayley Berg, Hopper's, airfares, Holmes, Rajesh Kumar Singh, Ben Klayman, Nick Zieminski Organizations: Chicago Midway International, REUTERS, Airline, US Global Jets ETF, United Airlines, Delta Air Lines, Airlines, Global Investors, U.S . Transportation, Airlines Reporting Corporation, ARC, airfare, Delta, American Airlines, Global, Thomson Locations: Chicago , Illinois, U.S, Europe, United

☆ GlobalFoundries scraps plan to appoint former top Amazon executive as CFO
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

July 11 (Reuters) - Chipmaker GlobalFoundries (GFS.O) has shelved its plan to appoint former Amazon executive Tim Stone as chief financial officer, it said on Tuesday, two months after choosing him. It said current CFO David Reeder will remain in the role through the end of the year as it looks for a new candidate. GlobalFoundries had in May named Stone, who was at Amazon (AMZN.O) for more than 20 years and served as CFO for AWS and Devices businesses. The chipmaker counts companies including Advanced Micro Devices (AMD.O), STMicroelectronics (STMPA.PA), Qualcomm (QCOM.O) and Lockheed Martin (LMT.N) among its customers. Reporting by Chavi Mehta in Bengaluru; Editing by Nivedita Bhattacharjee and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Tim Stone, David Reeder, GlobalFoundries, Stone, Lockheed Martin, Chavi Mehta, Nivedita Bhattacharjee, Arun Koyyur Organizations: Amazon, AWS, Ford Motor, Devices, Qualcomm, Lockheed, Global, IDC, Thomson Locations: Bengaluru

☆ Citi downgrades U.S. stocks, sees S&P 500 pull back 9% to 4,000
▼ + stars: | 2023-07-10 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Strategists at Citi downgraded U.S. equities after a strong first half of 2023, saying an economic slowdown will weigh on company earnings. The Wall Street firm slashed the rating to neutral from overweight Monday and said the S & P 500 will pull back 9% to end the year at 4,000. "After a solid 1H, US outperformance may go on pause," Citi strategists said in a note. The market ended the first half of the year with a bang as the S & P 500 popped 15.9% for its best first half since 2019. The S & P 500 shed 1.2% last week.

Organizations: Citi, US Strategy, Nasdaq, Federal Reserve, Wall Street, CNBC

The latest drubbing in the world's biggest bond markets, which last year suffered a record rout, does not yet point to any dysfunction in the markets themselves, investors said. But in echoes of the volatile conditions seen during March's banking crisis, trading in euro zone benchmark German government bond futures were briefly interrupted on Thursday when bond yields spiked. U.S. and British 10-year yields were also set to end the week more than 20 bps higher , . ING said earlier on Friday that this week's data was strong enough to push yields higher even if jobs numbers interrupt the moves. "It won't be as bad as that, but higher rates and higher yields could lead to negative returns and pressure returns on equity markets."

Persons: Mike Riddell, Jan von Gerich, Mark Dowding, Gael Fichan, Fichan, BlueBay's Dowding, Yoruk Bahceli, Samuel Indyk, Harry Robertson, Hugh Lawson Organizations: U.S, Federal, Allianz Global Investors, Fed, of, European Central Bank, BlueBay Asset Management, Syz, ING, Global, Thomson Locations: Europe, United States, Australia, British, Germany, Britain, U.S, of England

LONDON, July 7 (Reuters) - Unsure which way the cookie crumbles from here - investors are being tempted to drop the bond. The broadest measures of government and corporate bonds have just stuck in mud. Two-year government bond yields are soaring. With June U.S. jobs growth going up yet another gear, U.S. Treasury yields hit 16-year highs above 5%, German equivalents hit their highest in 15 years and British gilt yields scaled 2008 peaks. For all but longer-term pension and insurance funds or banks, bonds may be neither fish nor fowl for a while to come.

Persons: hasn't, Stocks, midyear underperformance, Mike Dolan, Josie Kao Organizations: Global, Bloomberg U.S, Treasury, Bank of, JPMorgan, Europe, Reuters, Twitter, Thomson

☆ UN food aid deliveries by AI robots could begin next year
▼ + stars: | 2023-07-07 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

GENEVA, July 7 (Reuters) - AI-powered robotic vehicles could deliver food parcels to conflict and disaster zones by as early as next year in a move aimed to spare the lives of humanitarian workers, a World Food Programme (WFP) official told Reuters. Attacks against aid workers have intensified in recent years amid the highest number of violent conflicts since World War Two, according to the United Nations. WFP, the U.N.'s food aid agency, alone lost three workers earlier this year in Sudan's conflict. They were first conceived during the battle for Syria's Aleppo, between 2012 and 2016, when humanitarian workers struggled to get aid to besieged parts of the city, Kowatsch said. AI is used to combine data gleaned from various sources including satellite and sensors, allowing remote drivers to steer the vehicles.

Persons: Bernhard Kowatsch, Kowatsch, Emma Farge, Frank Jack Daniel Our Organizations: Food Programme, Reuters, United Nations, WFP, International Telecommunication Union, Air, Emergency, German Aerospace Center, Thomson Locations: GENEVA, Geneva, Aleppo, Syria, Sudan, South Sudan

☆ Heat Records Fall Around the Globe as Earth Warms, Fast
▼ + stars: | 2023-07-06 | by ( Brad Plumer | More About Brad Plumer | ) www.nytimes.com time to read: +1 min

On Tuesday, global average temperatures rose to a new high of 62.9 degrees Fahrenheit. But, he added, there may be other factors layered on top of human-caused warming that have helped drive temperatures up so dramatically in recent months. For instance, a cyclical phenomenon in the Pacific Ocean known as the El Niño-Southern Oscillation causes year-to-year fluctuations by shifting heat in and out of deeper ocean layers. Global surface temperatures tend to be somewhat cooler during La Niña years and somewhat hotter during El Niño years. “A big reason we’re seeing so many records shattered is that we’re transitioning out of an unusually long three-year La Niña, which suppressed temperatures a bit, and into a strong El Niño,” Dr. Hausfather said.

Persons: Zeke Hausfather, El, “, Hausfather Organizations: Service, Berkeley, Southern

☆ Stock Market Today: Dow Futures Edge Down—Live Updates
▼ + stars: | 2023-07-05 | by ( ) www.wsj.com time to read: +1 min

Stock futures slipped as data showed China’s services sector expanded slower than expected and investors awaited minutes from the Federal Reserve’s latest policy meeting. “It’s contributing to the loss of momentum and growth in Europe as well.”Coming up: The Fed’s minutes for its June meeting are due at 2 p.m. In recent market action:Stock futures slipped. Nasdaq-100 futures fell 0.4%. Hong Kong’s Hang Seng Index lost 1.6% and the Shanghai Composite Index fell 0.7%.

Persons: ”, Hani Redha, Jerome Powell, Brent Organizations: Federal, PineBridge Investments, Dow, Nasdaq, Nikkei, Treasury Locations: China, Europe, Shanghai

☆ Goldman strategist says one country offers the 'most fertile ground for picking stocks' and shares his favorites
▼ + stars: | 2023-07-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

That's despite Indian stocks already soaring, with the country's benchmark indexes BSE Sensex and Nifty 50 soaring to new record highs on Friday, according to Refinitiv data. He said that Indian stocks have a 16% compound annual return over the last 20 years in local currency terms, and 13% in dollar terms. It also has a high proportion of what Goldman analysts dub "multibagger" stocks, according to Koul. Goldman Sach screened 25 large-cap Indian stocks for those with an attractive growth and valuation profile. Four banks meet its criteria: HDFC Bank , ICICI Bank , State Bank of India and Kotak Mahindra Bank.

Persons: Goldman Sachs, Sunil Koul, CNBC's, Koul, That's, Goldman, Banks, Goldman Sach, Larsen, Toubro, — CNBC's Michael Bloom Organizations: Asia Pacific, CNBC, HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank, U.S . Global, SBI, UltraTech, Growers Locations: India, U.S

☆ A U.S. recession is coming this year, HSBC warns — with Europe to follow in 2024
▼ + stars: | 2023-06-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Hong Kong observation wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty ImagesThe U.S. will enter a downturn in the fourth quarter, followed by a "year of contraction and a European recession in 2024," according to HSBC Asset Management. "The coming recession scenario will be more like the early 1990s recession, with our central scenario being a 1-2% drawdown in GDP," Little added. HSBC expects the recession in Western economies to result in a "difficult, choppy outlook for markets" for two reasons. HSBC remains overweight on Chinese stocks for this reason, and Little said the "diversification of Chinese equities shouldn't be underestimated."

Persons: Joseph Little, Little, HSBC's Little Organizations: Shanghai Bank, HSBC, Ucg, Getty, HSBC Asset Management, Global, CNBC, U.S . Federal Reserve, European Central Bank, Bank of England, Fed Locations: Hong, Hong Kong, Victoria, China, Europe, India

☆ Are TSA PreCheck, Clear, and Global Entry worth it? 3 frequent business travelers say they are — here are the benefits.
▼ + stars: | 2023-06-27 | by ( Mariette Williams | ) www.businessinsider.com time to read: +6 min

TSA PreCheck is ideal for domestic travel, and Global Entry is best for international travel. If you're wondering whether services like TSA PreCheck, Clear, or Global Entry are worth it, Insider asked three frequent travelers for their advice and experience using expedited airport services. For both TSA PreCheck and Clear, travelers can apply online but both require an in-person appointment to complete the application. Consider Global Entry for frequent international travelIf you take several international trips a year, Global Entry is great for getting through immigration screenings faster, and the service currently costs $100 for five years. Like TSA PreCheck and Clear, the Global Entry application requires an in-person interview, which can often have a long wait.

Persons: —, John Jennings, I'm, Shriya, Boppana, Morgan Angelique Owens, Owens, Jennings, I've Organizations: TSA, Service, Louis Trust, Family, TSA PreCheck, Accenture, Global, Dulles International Locations: Dulles, Virginia, Paris

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