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Before the U.S. data the euro, sterling and the Swedish crown had already risen sharply against the U.S. dollar as traders assessed a slew of economic data, including UK and euro zone job figures plus German economic sentiment. In Europe traders were also eying encouraging data such as German economic sentiment ZEW index, which rose in November. Jane Foley, head of FX strategy at Rabobank in London also pointed to other headlines supporting risk currencies against the dollar. The dollar index , which measures the currency against six counterparts including sterling and euro, was last down 0.46% at 106.162 after earlier touching 105.34, its lowest point since August. The Swedish crown rose sharply against the U.S. dollar after data showed inflation in Sweden rose less than expected in October.

☆ Crypto readies itself for a post-FTX hose-down: podcast
▼ + stars: | 2022-11-15 | by ( John Foley | ) www.reuters.com time to read: 1 min

NEW YORK, Nov 15 (Reuters Breakingviews) - The collapse of Sam Bankman-Fried’s empire exposed the vulnerabilities of a vast, unregulated world of digital finance. Rivals like Circle CEO Jeremy Allaire hope to prove there’s a safer side of crypto worth saving. He presents his case in this episode of The Exchange podcast. Listen to the podcastFollow @johnsfoley on TwitterEditing by Sharon Lam and Amanda GomezOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Piyush Gupta might be banking’s boldest boss
▼ + stars: | 2022-11-15 | by ( Una Galani | ) www.reuters.com time to read: +7 min

Piyush Gupta of $65 billion Singaporean lender DBS Group (DBSM.SI) appears to be that CEO, whether he thinks of himself that way or not. Yet the two banks trade on a similar multiple of 1.5 times their estimated 2022 book value, according to Refinitiv. There is limited room for growth in DBS’ tiny home market, a city with a population of 5.5 million people. That, plus the pressure to maintain that 1.5-times-book market value, means Gupta needs to keep finding ways to grow. U.S. President Joe Biden and Chinese President Xi Jinping held talks on Nov. 14 while at the G20 summit in Indonesia.

☆ Jeff Bezos is an unlikely personal finance guru
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 15 (Reuters Breakingviews) - Jeff Bezos, the man who sells everything, is telling shoppers to stop buying everything. It may seem odd that Bezos, who built a $1 trillion company on ease and convenience, is doling out financial advice that cuts against his business interests. E-commerce is only 14.5% of overall retail sales of some $1.8 trillion, according to the U.S. Census Bureau. Meanwhile pure-play e-commerce companies that don’t have their roots in real-world stores represented 8% of retail sales in the second quarter compared to 5.7% in the second quarter in 2019, reckons UBS. In short, Amazon can grow even when retail doesn’t, meaning Bezos the billionaire can afford to be the unlikely voice of parsimony.

☆ Captain Sully and Whoopi Goldberg are among the latest celebrities announcing they quit Twitter after Elon Musk takeover
▼ + stars: | 2022-11-13 | by ( Beatrice Nolan | Jordan Hart | ) www.businessinsider.com time to read: +6 min

Multiple celebrities say they have quit Twitter in the wake of Elon Musk's takeover. Now, some celebrities are making good on their threats to quit Twitter. Téa LeoniThe actress best known for her role in "'Madam Secretary" has also seemingly deleted her Twitter account. Gigi HadidThe fashion model took to Instagram to condemn Twitter, especially under Musk's leadership, announced she'd be deactivating her account. "I deactivated my Twitter account today.

☆ Dollar set for biggest two-day fall since 2009 as rate outlook shifts
▼ + stars: | 2022-11-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. Data on Thursday showed consumer inflation rose 7.7% year-on-year in October, its slowest rate since January and below forecasts for 8%. The dollar staged its biggest drop since late 2015 on Thursday as Treasury yields plunged, while other currencies - the yen and the pound in particular - jumped. The dollar index was down nearly 1.1%, having lost over 3% in the last two days - its biggest two-day decline since March 2009. The offshore yuan rallied by as much as 1.3% to hit its highest in over a month against the dollar, to 7.0592.

☆ Dollar heads for biggest two-day fall since 2009 as rate outlook shifts
▼ + stars: | 2022-11-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken February 10, 2020. Data on Thursday showed consumer inflation rose 7.7% year-on-year in October, its slowest rate since January and below forecasts for 8%. The dollar staged its biggest drop since late 2015 on Thursday as Treasury yields plunged, while other currencies - the yen and the pound in particular - jumped. The dollar index was down nearly 1%, having lost over 3% in the last two days - its biggest two-day decline since March 2009. "It can be a little dangerous in that the 'bad news' is still out there and could come back to burn us, particularly with respect to the Fed," Rabobank currency strategist Jane Foley said.

☆ Dollar flags after biggest daily fall since 2015
▼ + stars: | 2022-11-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken February 10, 2020. The dollar staged its biggest drop since late 2015 as Treasury yields plunged, while other currencies - the yen and the pound in particular - jumped. The dollar index was down nearly 0.5%, while risk assets including stocks, emerging-market currencies and commodities rallied. The offshore yuan rallied by as much as 1.3% to hit its highest in over a month against the dollar, to 7.0592. Bitcoin fell 1.2% to $17,344, after plunging below $16,000 for the first time since late 2020 this week.

☆ Stubborn inflation puts Fed on deadline
▼ + stars: | 2022-11-10 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 10 (Reuters Breakingviews) - Inflation is coming down in the United States, but is still too high for comfort. The year-over-year inflation rate eased more than expected – economists polled by Refinitiv had expected 8% - but the cost of food, energy, and housing still increased dramatically. Fed Chair Jerome Powell warned on Nov. 2 that there’s a risk that expectations of higher inflation become entrenched. When Americans expect higher inflation, businesses are inclined to raise prices and workers are liable to ask for higher wages, which amplifies the increase still further. If Powell really wants to tackle the fear of inflation as well as inflation itself, something bolder might be in order.

☆ Breakingviews: FTX crash is old lesson for financial newcomers
▼ + stars: | 2022-11-10 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, Nov 9 (Reuters Breakingviews) - FTX is a young company facing an ancient financial problem. While it may be of little consolation to Bankman-Fried, the industry could end up better off for FTX’s agonies. Any investors who used trades on FTX’s exchange to hedge positions held elsewhere may now have to liquidate those other holdings, creating a wave of selloffs. While crypto is a new industry, the de-facto run that FTX experienced is a phenomenon as old as finance. Follow @liamwardproud on TwitterloadingCONTEXT NEWSCryptocurrency exchange Binance on Nov. 9 scrapped its deal to buy rival FTX.

☆ In historic House race between gay candidates, Republican defeats Democrat, NBC News projects
▼ + stars: | 2022-11-09 | by ( Matt Lavietes | Matt Lavietes Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +2 min

Republican George Santos is the winner in the race for New York’s 3rd Congressional District, beating Democrat Robert Zimmerman and flipping the seat from blue to red, NBC News projected. The contest marked the first time two openly gay congressional candidates had gone head to head in a general election. He will also become the first openly LGBTQ non-incumbent Republican elected to Congress. Former Republican Reps. Mark Foley of Florida and Aaron Schock of Illinois came out as gay after they resigned from the House. “I am an openly gay candidate.

☆ Former Peloton CEO John Foley Moves From Selling Bikes to Rugs
▼ + stars: | 2022-11-09 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

John Foley co-founded Peloton in 2012 and ran the company for a decade before stepping down as CEO in February. Former Peloton Chief Executive John Foley is trading exercise bikes for something closer to the ground: rugs. “It’s a little bit of a career shift,” said Mr. Foley, who left Peloton Interactive Inc. earlier this year. But, the entrepreneur added, he has always loved interior design, ripping out pages from design magazines for mood boards before the days of Pinterest .

☆ Fact Check-Joe Biden did not announce plan to cheat by ‘dumping ballots’ during U.S. midterms; Vote ‘spikes’ are not evidence of fraud
▼ + stars: | 2022-11-09 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Social media users are sharing a claim that President Joe Biden “announced” a plan to cheat on the U.S. midterms by dumping ballots in a Nov. 2, 2022 speech. But nowhere in the speech does Biden “announce” cheating or dumping ballots during the midterm elections. Specifically, mail-in ballots can start being counted ranging from before election day, on election day before polls close and after polls close on election day, depending on the state (here). Reuters has previously reported on why official U.S. election vote counts may not be reported until after election day and can take weeks to verify (here). There are multiple layers of security in place for mail-in ballots, from affidavits and signature verification to witness signatures and notarized ballots.

☆ Peloton’s founders get a deserved do-over
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 9 (Reuters Breakingviews) - Peloton Interactive’s (PTON.O) founders are climbing back up on their bikes. With WeWork founder Adam Neumann also recently scoring funding for a new idea, second chances are in vogue. In that sense, it’s like Peloton’s take on home exercise gear: a fancier version of an existing product, with added convenience. Peloton’s shares cratered after the virtual fitness company was overambitious during the pandemic, but it grew admirably. It pegs the addressable market for rugs at $120 billion by 2030 versus the $4 trillion wellness market Peloton touted in its initial public offering documents.

☆ Euro, sterling jump, dollar tumbles as market turns to risk assets
▼ + stars: | 2022-11-07 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

[1/2] U.S. dollar and British pound notes are seen in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/IllustrationLONDON, Nov 7 (Reuters) - Euro and sterling rose against the safe-haven U.S. dollar on Monday, supported by a risk-on sentiment across markets with European stocks rising on persistent hopes China will ease COVID restrictions. Another risk-sensitive currency, sterling , reversed earlier losses to trade up 0.6% to $1.1442, while the euro jumped to its highest since Oct. 27. Four Fed policymakers on Friday also indicated they would still consider a smaller interest rate hike at their next policy meeting. Reporting by Joice Alves in London; Editing by Ed Osmond and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Peloton co-founder John Foley launches business selling custom rugs directly to consumers
▼ + stars: | 2022-11-07 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +3 min

Peloton co-founders are starting Ernesta, a direct-to-consumer business selling custom rugs. The business is launching in spring 2023 and entering a global market anticipated to reach $130 billion by 2030. The company will be entering a global carpets and rugs market anticipated to reach $130 billion by 2030. Foley is Ernesta's CEO, with fellow Peloton founders Hisao Kushi serving as chief legal officer and Yony Feng as chief technology officer. He relinquished his executive chairman title in September, following months of controversy and reduced global demand at the beleaguered company.

☆ Conscious capitalism falls behind in the polls
▼ + stars: | 2022-11-04 | by ( John Foley | ) www.reuters.com time to read: +5 min

NEW YORK, Nov 4 (Reuters Breakingviews) - As America heads to the polls on Tuesday, and the political climate gets more acrimonious, powerful companies have two choices. Their bid to avoid unwanted attention comes with a cost, because the alternative to conscious capitalism isn’t democracy but apathy. BlackRock affirmed its commitment on Thursday to letting individual customers vote shares in companies at annual meetings, rather than BlackRock voting on their behalf. Ron DeSantis, the governor of Florida, has taken aim at “woke” capitalism by barring state pension funds from investing based on non-pecuniary goals. From the other side, New York’s City comptroller is “reassessing” its relationship with Fink’s firm because BlackRock isn’t being progressive enough.

☆ Peloton shares tumble after company offers weak holiday quarter outlook
▼ + stars: | 2022-11-03 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Peloton posted a wider-than-expected loss for its fiscal first quarter, as a steep decline in connected fitness products revenue outweighed an increase in subscription revenue. Loss per share: $1.20 vs. 64 cents, expected$1.20 vs. 64 cents, expected Revenue: $616.5 million vs. $650.1 million, expected. Peloton's revenue outlook for the holiday quarter, between $700 million and $725 million, would mark a quarter-to-quarter increase, but it's well below analysts' estimates of $874 million. Peloton reported 6.7 million total members, up from 6.3 million last year, but down from 6.9 million the prior quarter. The company reported $199 million in first quarter recall reserves, restructuring and impairment expenses as it continues embarking on its turnaround.

☆ Want to live in a van down by the river? Ford has a new vehicle for that
▼ + stars: | 2022-11-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Ford says Transit Trail owners will have access to the Ford Pro network of upfitters and interior installers to create the interior space they desire. The Detroit automaker on Thursday revealed the 2023 Ford Transit Trail Van, a new lifted model of its full-size van equipped with all-wheel-drive and more durable, off-road parts for outdoor enthusiasts. Ford is touting the Transit Trail Van as a gateway into "van life," a community of travelers who fully or partially live in their vehicles. The 2023 Ford Transit Trail Van will go on sale in the spring, starting at $65,975. That's about $15,000 more than a base passenger Transit van.

☆ VIEW Bank of England lifts UK rates to 3% in historic hike
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Toby MelvilleLONDON, Nov 3 (Reuters) - The Bank of England raised UK interest rates to 3% on Thursday in its largest rate hike since 1989 and warned of a "very challenging outlook" for the economy. Money markets showed traders now expect UK rates to peak at 4.6% by next September, compared to expectations of 4.8% just two days ago. UK bank stocks (.FTNMX301010) fell 0.8%BONDS: Yields on the two-year gilt were last up 1 basis points at 3.041%, compared with 3.064% before the BoE announced its decision. Rates markets are pricing another 50bps hike at each of the December and February meetings, although still reflect a lower terminal rate than just a week ago. ANDREW ALDRIDGE, PARTNER AT DEEPBRIDGE CAPITAL, LONDON"Quelling rampant inflation and kickstarting a slowing economy left the Bank facing a difficult balancing act, with today's interest rate hike to 3% hardly surprising in this context.

NEW YORK/ LONDON, Nov 3 (Reuters Breakingviews) - First Boston is an old Wall Street name that’s re-emerging from Credit Suisse (CSGN.S) with some new features. Credit Suisse Chief Executive Ulrich Körner is reshaping the $11 billion group to put some bad years and big losses firmly in the past. Credit Suisse is setting up joint ventures between CS First Boston and the parent’s trading and wealth management businesses, according to a person familiar with the matter. An added complication is that CS First Boston bankers could be getting paid in their own division’s stock, rather than Credit Suisse shares. Michael Klein will step down from the Credit Suisse board of directors to help launch CS First Boston, the bank said.

☆ POLL Dollar's retreat temporary, likely to reclaim recent highs
▼ + stars: | 2022-11-02 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

BENGALURU, Nov 2 (Reuters) - The dollar's retreat in foreign exchange markets is temporary, according to a Reuters poll of currency strategists, who said the greenback still had enough strength left to reclaim or surpass its recent highs and resume its relentless rise. The Fed is widely expected to raise its benchmark rate by 75 basis points on Wednesday, its fourth jumbo increase in a row. However, for the December meeting interest rate futures showed a split on the odds of a 75 or 50 basis point increase. Those six and 12-month median forecasts were a slight upgrade from the October poll and the first since April. It was expected to trade around 146.0, 141.7 and 135.0 per dollar over the next three, six and 12 months respectively.

☆ Dollar's retreat temporary, likely to reclaim recent highs - Reuters poll
▼ + stars: | 2022-11-02 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

☆ If 8% inflation is worrying, 3% could be worse
▼ + stars: | 2022-11-02 | by ( John Foley | ) www.reuters.com time to read: +3 min

But what if inflation doesn’t go back to 2%, and instead sticks somewhere higher, like 3%? Some measures suggest that inflation is coming down, such as the sharp drop in how long it’s taking manufacturers to get deliveries. For a central bank, the nightmare scenario is one where inflation subsides to a level above its target and then plateaus. Some Democrats already argue the Fed’s rate hikes hurt the poor; some Republicans blame Powell for letting inflation run amok in the first place. Rate hikes could trigger a recession, a state that’s painful but has tended to bring inflation down quickly in the past.

☆ Elon Musk fired CEO Parag Agrawal after taking over Twitter. He joins a growing list of executive departures in 2022, including Meta's Sheryl Sandberg and a slew of retail CEOs.
▼ + stars: | 2022-11-02 | by ( Samantha Delouya | ) www.businessinsider.com time to read: 1 min

In February, John Foley, Peloton's co-founder, announced that he would step down as CEO. He was at the helm during the company's pandemic-fueled rise and its subsequent sharp drop in demand. Barry McCarthy, who was once CFO of both Spotify and Netflix, took over the top spot. Peloton co-founder John Foley Mark Lennihan/AP

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