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☆ First Republic tells CNBC the bank isn't seeing that many depositors leave
▼ + stars: | 2023-03-13 | 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 EmailFirst Republic tells CNBC the bank isn't seeing that many depositors leaveCNBC's Jim Cramer discusses First Republic Bank after speaking with the CEO Jim Herbert.

☆ Volkswagen pauses on Europe battery plants, awaits EU response to IRA
▼ + stars: | 2023-03-08 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

"De facto it is the case that we are getting ahead far faster in North America," a person close to the matter said to Reuters, declining to be named. Asked about the report, a Volkswagen spokesperson said the carmaker was "still evaluating suitable locations for our next cell factories in Eastern Europe and North America. The company said in October last year it planned to firmly settle on a location for a plant in eastern Europe in the first six months of 2023. Schmall said he participated in a discussion with EU officials via the European Battery Alliance last week on what conditions were needed in Europe for battery production. These included state aid in line with China and North America, a raw materials strategy and affordable renewable energy, he said.

☆ Awaiting an IRA response, Volkswagen pauses decision on eastern Europe battery plant
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowMarch 8 (Reuters) - Volkswagen (VOWG_p.DE) is pausing plans for a battery plant in eastern Europe and prioritising building a plant in North America where it expects to reap 9-10 billion euros ($10.54 billion) in subsidies, the Financial Times reported on Wednesday. The company was waiting for a response from Europe to the U.S. $369-billion Inflation Reduction Act package before moving ahead with its plans in the region, the newspaper reported, citing sources with knowledge of the matter. Volkswagen board member Thomas Schmall posted on LinkedIn last week that Europe risked losing "the race for billions of investments that will be decided in coming months and years" to the attractive conditions offered by the IRA. The company said in October last year it planned to firmly settle on a location for the plant in the first six months of 2023. ($1 = 0.9489 euros)Reporting by Victoria Waldersee Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Unisys, Bed Bath & Beyond slide after removal from small-cap index
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, March 6 (Reuters) - Shares of IT services firm Unisys Corp tumbled 16.7% on Monday and shares of embattled home goods retailer Bed Bath & Beyond Inc fell about 4% after it was announced they will be removed from the small-cap S&P 600 index (.SPCY) in two weeks. Shares of Unysis (UIS.N) have fallen 80% over the past 12 months. As of Friday, the company's market capitalization was $330.9 million, according to Refinitiv data, or less than the $850 million market cap required for inclusion in the small-cap index. Fair Isaac shares rose 0.25% to $707.01, on track to mark a record closing high, while Lumen shares bounced off near-record lows, up 4.57% at $3.315 a share. Reporting by Herbert Lash; additional reporting by Lance Tupper; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ NBA roundup: Hornets win again, lose LaMelo Ball
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +3 min

Gordon Hayward added 19 points and Kelly Oubre Jr. joined ball with 18 points for Charlotte. Mark Williams provided 15 points and 11 rebounds. Heat 101, 76ers 99Jimmy Butler had 23 points, 11 rebounds, nine assists and four steals to help Miami edge host Philadelphia. Jayson Tatum, who entered Monday averaging 30.4 points per game, was limited to 14 points before he was ejected late in the fourth quarter. Moritz Wagner and Markelle Fultz added 14 points each and Wendell Carter Jr. had 11 points and 11 rebounds for Orlando, which began a three-game road trip by finishing a season series sweep against New Orleans.

Durable goodsThe report dented some of the hawkishness built into U.S. interest rates, though they are expected to remain higher for longer, analysts said. The National Association of Realtors (NAR) said its Pending Home Sales Index, based on signed contracts, jumped 8.1% last month, the biggest increase since June 2020. Traders now expect the Fed to raise interest rates to about 5.4% in July, according to pricing in futures markets . At the beginning of February, they envisaged rates rising to a peak of just 4.9%. The dollar index , which measures the currency against six major peers, fell 0.513% and is on track to snap a four-month losing streak.

☆ Colombia court moves to metaverse to host hearing
▼ + stars: | 2023-02-24 | by ( Isabel Woodford | ) www.reuters.com time to read: +3 min

[1/3] A magistrate speaks during a Colombian court hearing held in the Metaverse, February 15, 2023, in this still image taken from a social media video. Bogota?s Municipal Criminal Court 69/via REUTERSFeb 24 (Reuters) - A Colombian court this month hosted its first legal trial in the metaverse, and now hopes to experiment again with virtual reality, authorities told Reuters. At the two-hour hearing held by Colombia's Magdalena Administrative court, participants in a traffic dispute appeared as avatars in a virtual courtroom. "It felt more real than a video call," Quiones told Reuters on Friday, describing the metaverse experience as "amazing." Nonetheless, Colombia's court proceedings on Feb 15 - streamed to Youtube - went off without too much of a glitch, bar some dizzying camera movement and some distorted movements.

☆ Germany bids to clear the rocky path for foreign talent
▼ + stars: | 2023-02-23 | by ( Maria Martinez | ) www.reuters.com time to read: +5 min

Although not alone in facing labour shortages, Germany does not benefit from language and other ties with former colonies. However, Germany does not have a long-established history of immigration and the need for greater reliance on foreign labour will need a change in mindset. With this card, obtained before arrival, individuals with potential will be allowed to stay in Germany to find a job. While the first challenge is attracting talent, the second one is ensuring that the talent wants to stay. Madrigal is planning to stay in Germany as he wants to grow inside of his company, InterWorks.

☆ Analysis: How North Korea could use a Pacific 'firing range' to perfect its missiles
▼ + stars: | 2023-02-22 | by ( Josh Smith | ) www.reuters.com time to read: +6 min

North Korea launched two short-range ballistic missiles (SRBMs) on Monday, after firing a massive Hwasong-15 intercontinental ballistic missile (ICBM) on Saturday. So far North Korea has fired three variants of the Hwasong-12 intermediate range ballistic missiles (IRBMs) over Japan and into the Pacific Ocean. "As soon as it is out of range, or if it crosses below the horizon, North Korea will be blind." Schiller said he is not aware of any tracking vessels that North Korea positions along the flight path, and for now it doesn't have data relay satellites. If those two conditions are met, then North Korea will have fully demonstrated its deterrence capability against the United States, he said.

Police officers involved in the deaths have become an intense focus of investigation, protest, and media coverage. Despite being at the heart of some of the most defining incidents in modern policing, most of the officers involved continue to live their lives under the radar. Insider's review of 72 cops involved in two dozen of the most notorious police killings of the past 30 years shows the many different paths officers have taken. There's no nationwide view into what happens to officers involved in egregious incidents of violence. In rare cases, cops involved in these killings have tried to publicly rehabilitate their image rather than seek out anonymity.

☆ NBA roundup: Bucks best Clippers for 10th straight win
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +9 min

Brandon Boston Jr. scored 20 points and Paul George added 19 points and 11 rebounds for the Clippers. Norman Powell had 16 points and Marcus Morris Sr. scored 15 for Los Angeles, which has lost two games in a row. Domantas Sabonis put up 18 points, 11 rebounds and a team-high seven assists for the Kings. Detroit's Jaden Ivey supplied 17 points, eight rebounds and eight assists, while Isaiah Stewart had 15 points and 11 rebounds. Desmond Bane added 20 points, seven rebounds and five assists, while Jaren Jackson Jr. tallied 15 points and six rebounds.

☆ VW to speed up electric shift in five-year plan
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Feb 10 (Reuters) - Volkswagen (VOWG_p.DE) will speed up its shift to electric cars and revamp its software strategy in a five-year investment plan presented by management to the supervisory board on Friday, the automaker said in a statement. Bosses discussed how to rejig the German group's production network to accelerate the move to cleaner driving, the statement said, without elaborating. Full details of what was discussed will be presented at the company's annual media conference on March 14. A spokesperson for the works council denied the Handelsblatt report, saying jobs in Hannover were guaranteed under an agreement with the company until 2029. Reporting by Jan Schwartz; Writing by Victoria Waldersee; Editing by Jan Harvey and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 8, 2023. Crude prices eased, with gold firmer as the dollar index fell 0.18%, while MSCI's U.S.-centric index of stock performance in 47 countries (.MIWD00000PUS) shed 0.44%. China's blue chips (.CSI300) rose 1.3%, pulling away from a one-month trough, while Hong Kong's Hang Seng Index (.HSI) gained 1.6%. Crude prices eased as oil infrastructure appeared to have escaped serious damage from the earthquake that devastated parts of Turkey and Syria, while U.S. inventories swelled and investors worried about central bank rate hikes. Gold prices rose for a fourth straight session as the dollar faltered, even as Fed officials indicated more rate hikes are warranted to rein in inflation.

☆ NBA roundup: Thunder spoil LeBron James' record night
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +5 min

[1/5] Feb 7, 2023; Los Angeles, California, USA; Los Angeles Lakers forward LeBron James (6) moves the ball against the Oklahoma City Thunder during the second half at Crypto.com Arena. Shai Gilgeous-Alexander scored 30 points and dished out eight assists for the Thunder, while Jalen Williams added 25 points. He became the first player in franchise history with three straight 40-point games and scored 13 of his points in the fourth. Dejounte Murray had 19, Trae Young had 16 points and 16 assists, John Collins scored 15 points and Clint Capela added 13. Jackson led the charge with support from Ja Morant, who finished with a game-high 34 points, and Brandon Clarke, who came off the bench for 13 points.

/USThe dollar index fell 0.21% from one-month highs, while the Japanese yen gained 1.21% to 131.08 per dollar after unusually strong Japanese wage data. The Australian dollar bolted 1.02% higher after its central bank reiterated further increases would be needed. Asian stocks stabilized overnight after they, like most global share markets, suffered steep losses following that U.S jobs data. Oil prices climbed more than 3% after Powell eased market concerns over rate hikes, while recovering demand in China also boosted prices. Gold eked out gains, tracking a slight pullback in the dollar, as investors mulled comments by Powell and the outlook for the Fed's rate-hike policy.

"We didn't expect it to be this strong," Powell said, but it "shows why we think this will be a process that takes quite a bit of time." It has just confounded all sorts of attempts to predict," Powell said, noting that wage growth has slowed even with continued strong job gains. Officials raised the target interest rate a quarter point to a range between 4.5% and 4.75% at that session, and said in the latest policy statement that "ongoing increases" would be needed. 1 2 3 4 5As of December, the Fed's preferred measure of inflation was increasing at a 5% annual rate, still more than double the Fed's target. While Powell said he expected "significant declines in inflation" this year, the U.S. economy was still "in the beginning of getting that down."

U.S. and European equity markets were mixed to lower, with the euro and pound lower against the dollar. The broad pan-European STOXX 600 index (.STOXX) was up 0.04% and MSCI's gauge of global stock performance (.MIWD00000PUS) shed 0.12%. "What's been really important is that the market sees a lower likelihood of rate cuts by the end of the year." Asian stocks stabilized overnight after they, like most global share markets, suffered steep losses following that U.S jobs data. "Sentiment in markets is dominated by central banks and the repricing of rates yet again," Kerry Craig, JPMorgan Asset Management's global market strategist, said.

☆ TripActions Rebrands as Navan, Adds ChatGPT to Expense Reports
▼ + stars: | 2023-02-07 | by ( Angus Loten | ) www.wsj.com time to read: +6 min

TripActions, a business-travel software startup, plans to integrate OpenAI’s ChatGPT capabilities across its online platform, an effort aimed at seizing market share by making expense reports easier to use. That way, the expense report is generated during the trip as expenses are incurred, Mr. Cohen said. “Generally, software in the business-to-business space is designed to serve the company,” rather than the employees, Mr. Cohen said. “Using AI helps you create the kind of software that I’m talking about,” Mr. Cohen said. PREVIEWSAP Concur has also begun using AI in its travel and expense software, which can “tap decades of expense data and experience tracking to identify hard-to-detect spend issues and anomalies,” said Charlie Sultan, president of Concur Travel.

Government bonds, which typically perform well when there is a dash for safe havens, sold off under intense pressure. The dollar rose to an almost one-month high of 132.85 yen while the euro fell 0.64% to $1.0726. Chinese equities fell on Monday, while the offshore yuan touched a one-month low against the dollar. European Central Bank and Bank of England policymakers will also be making appearances. Gold edged higher, with investors banking on the precious metal's safe-haven appeal as concerns about an economic slowdown linger.

The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself. Apple, the world's largest publicly traded company, fell short of expectations, hurt by lower iPhone sales and production disruptions in China. Amazon said operating profits could fall this quarter due to lower demand, and Alphabet's online advertisers cut back their spend as well. Shares of the three companies dropped after the results were released and were expected to drag the market lower Friday following a euphoric rally Thursday. These three firms and Microsoft (MSFT.O), the four U.S. companies with trillion-dollar market values, have led the broad-market S&P 500 in 2023.

☆ Jim Cramer reviews stock pitches from students at the Miami Herbert Business School
▼ + stars: | 2023-02-02 | 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 EmailJim Cramer reviews stock pitches from students at the Miami Herbert Business SchoolCramer answered questions from students at the University of Miami.

☆ Children hit by train in Germany, one killed, authorities say
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

[1/6] Police officers work in the area near the scene of a train crash in Recklinghausen, Germany, February 2, 2023. REUTERS/Thilo SchmuelgenBERLIN, Feb 2 (Reuters) - A child was killed and another was seriously injured on Thursday after they were hit by a train along a railway line in the western German town of Recklinghausen, local authorities said. Bild newspaper said the victims were dragged by a freight train for several hundred meters (yards). "Why, how come, these are all questions that no one can yet answer and wouldn't solve anything," Reul said. Reporting by Riham Alkousaa, Andreas Kranz and Erol Dogrudogan; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ NBA roundup: LeBron James' triple-double sinks Knicks in OT
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +4 min

[1/5] Jan 31, 2023; New York, New York, USA; Los Angeles Lakers forward LeBron James (6) controls the ball against the New York Knicks during the fourth quarter at Madison Square Garden. James, who missed Los Angeles' Monday defeat to the Brooklyn Nets with a sore left ankle and left foot, finished with 28 points, 11 assists and 10 rebounds. Adebayo grabbed 11 rebounds and Martin hauled in 10 for the Heat, who won for the fourth time in five games. Evan Mobley led Cleveland with 19 points while Jarrett Allen had 14 points and 11 rebounds. Los Angeles capitalized on 20 Chicago turnovers to improve to 2-1 on a six-game road trip and win for the sixth time in seven games.

☆ NBA roundup: Giannis Antetokounmpo nets 50 in Bucks' rout
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +3 min

[1/4] Jan 29, 2023; Milwaukee, Wisconsin, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) brings the ball downcourt in the third quarter during game against the New Orleans Pelicans at Fiserv Forum. Mandatory Credit: Benny Sieu-USA TODAY SportsJanuary 30 - Giannis Antetokounmpo had 50 points and 13 rebounds and the host Milwaukee Bucks rolled to a 135-110 victory over the reeling New Orleans Pelicans on Sunday night. Jrue Holiday added 17 points and Brook Lopez scored 15 as the Bucks won their fourth straight game. Amir Coffey scored 18 points, and both Moses Brown and Moussa Diabate finished with 13 points coming on in reserve. Aaron Nesmith tallied 16 points and five rebounds, while Myles Turner added 15 points and four boards.

☆ McIlroy pips Reed by one shot to win third Dubai Desert Classic crown
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

Jan 30 (Reuters) - World number one Rory McIlroy won his third Dubai Desert Classic title on Monday after he shot a final round of 68 to finish at 19-under overall, beating Patrick Reed by one stroke. Reed finished with a commendable final-round score of 65 which included an eagle on the par-five 10th hole but bogeyed the 16th to post 18-under overall. I really feel like I haven't had my best all week but I managed my game and played really smart," McIlroy said. This is probably sweeter than it should be or needs to be... A really good foundation for the year." Australia's Lucas Herbert, who had set the clubhouse target at 16-under overall earlier in the day, finished third.

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