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☆ What Is a CEO’s Pay Actually Worth?
▼ + stars: | 2023-03-05 | by ( Theo Francis | ) www.wsj.com time to read: 1 min

For the first time, public companies are revealing how much compensation their CEOs are actually poised to get, by tabulating gains and losses in the stock awards that make up much of their pay packages. For Olivier Le Peuch , chief executive of oil-field-services company Schlumberger Ltd., the new disclosure shows the value of his pay jumped nearly $24 million during the course of last year, driven by a sharp rise in the company’s share price. At nuts-and-bolts-maker Fastenal Co., new equity awards for CEO Daniel Florness lost nearly half their value in 2022.

U.S. Secretary of State Antony Blinken told Russian Foreign Minister Sergei Lavrov to end the war and urged Moscow to reverse its suspension of the New START nuclear treaty, a senior U.S. official said. The Russian foreign ministry said Lavrov and Blinken spoke "on the move" for less than 10 minutes at the end of the closed-door session, and did not engage in any negotiations, Russian news agencies reported. Blinken later told a news conference he had told Lavrov to engage in diplomacy during the unscheduled encounter. [1/6] U.S Secretary of State Antony Blinken (top L) walks past Russian Foreign Minister Sergei Lavrov (lower) during the G20 foreign ministers' meeting in New Delhi on March 2, 2023. French Foreign Minister Catherine Colonna said the war in Ukraine had hurt "almost every country on the planet, in terms of food, energy, inflation".

☆ It's 'all hands on deck' for China's 2023 GDP, analyst says
▼ + stars: | 2023-03-01 | 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 EmailIt's 'all hands on deck' for China's 2023 GDP, analyst saysOlivier d'Assier, head of applied research of Asia-Pacific at Qontigo, says China's regulators and the government are trying to make sure that the country is "on target" after last year's "big miss."

☆ Blinken has 'no plans' to meet Russian, Chinese counterparts at Delhi G20 meetings
▼ + stars: | 2023-03-01 | by ( Simon Lewis | ) www.reuters.com time to read: +1 min

[1/5] U.S. Secretary of State Antony Blinken speaks during a news conference at the Hyatt Regency in Tashkent, Uzbekistan March 1, 2023. Olivier Douliery/Pool via REUTERSTASHKENT, March 1 (Reuters) - U.S. Secretary of State Antony Blinken said on Wednesday that he has no plans to meet either the foreign ministers of Russia or of China during the Group of 20 (G20) meeting in New Delhi. Russian Foreign Minister Sergei Lavrov and Chinese Foreign Minister Qin Gang are attending the meeting. A Russian foreign ministry official said Lavrov was aiming to meet at least seven foreign ministers before India hosts a welcome dinner on Wednesday for delegates from 40 countries. During his trip to Kazakhstan and Uzbekistan, Blinken met with counterparts from all five Central Asian countries that used to be ruled from Moscow and have strong trade links with Beijing, ahead of the G20 foreign ministers' meeting.

☆ NHL roundup: Wild's Kirill Kaprizov caps hat trick in OT
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +6 min

Sabers 7, Capitals 4Dylan Cozens delivered his first career hat trick, and Buffalo defeated visiting Washington. Vinnie Hinostroza had a goal and an assist for Buffalo, while Cozens added an assist for the first four-point game of his career. T.J. Oshie scored his fourth goal in three games and added an assist, and Dylan Strome had a goal and an assist. Nick Schmaltz had a goal and an assist, and Shayne Gostisbehere also scored a goal for Arizona. Trocheck added an assist, and Mika Zibanejad and Artemi Panarin each had a goal and an assist.

☆ NHL Roundup: Canes rout Caps in Stadium Series
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +9 min

Josh Brown and Travis Boyd each had a goal and an assist, and Christian Fischer also scored. Arizona has earned points in eight straight games (4-0-4) for the first time in 11 years. Corey Perry and Vladislav Namestnikov each had a goal and an assist, and Steven Stamkos and Pierre-Edouard Bellemare also scored goals for Tampa Bay. Columbus' Mathieu Olivier collected a goal and two assists, Eric Robinson had one of each and Liam Foudy scored his first career NHL regular-season goal. Joonas Korpisalo turned aside 28 shots for the Blue Jackets, while forward Johnny Gaudreau sat out because of a lower-body injury, ending his streak of playing in 349 straight games.

☆ Teleperformance full-year revenue tops guidance
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

Feb 16 (Reuters) - French office services and call centre company Teleperformance (TEPRF.PA) posted full-year revenue slightly above its previous guidance on Thursday, helped by a drive towards digitalisation among clients. The company posted 12.5% like-for-like revenue growth to 8.15 billion euros ($8.7 billion), slightly above its 12% growth estimate provided in November. Teleperformance came under pressure in Colombia last November over work practices in its content moderation business. Teleperformance targets recurring organic or self-generated growth of about 10.0% and an EBITA margin increase of 20 basis points in 2023. It had also confirmed its 2025 financial targets of at least 10 billion euros in revenue and an EBITA margin of 16%.

☆ Analysis: Why China's reopening isn't inflationary
▼ + stars: | 2023-02-16 | by ( Rae Wee | ) www.reuters.com time to read: +6 min

However, economists see no challenge to global inflation, pointing instead to Chinese President Xi Jinping's new blueprint for self-sufficiency, broader prosperity and a socialist ideology as checks on big-ticket shopping. The slack in China's labour markets and Beijing's growth priorities will also take the edge off inflation, they say. "I don't think China's recovery or the reopening will cause any significant global inflation," said Chi Lo, senior market strategist for Asia Pacific at BNP Paribas Asset Management. BNP's portfolio managers are positioning for China's rebound to boost regional tourism, but not export price rises for manufactured goods. "I'm very much of the view that (China's reopening) will be positive for the world in terms of either not being too inflationary, but more widely having deflation in some key new goods and services," Westpac senior economist Elliot Clarke said.

Two-year Treasury yields hit their highest in three months at 4.65%, now on par with the current Fed policy rate. Morgan Stanley's Matthew Hornbach described the payrolls as a "mood changing" print that's seen markets chase rates higher as if gripped by a sort of reverse FOMO - fear of missing out. Reports circulated last week of swaps and options market activity on the Chicago Mercantile Exchange that bet on market rates touching 6%, or at least hedging against that possibility. If that's true, the battle over the terminal rate may now be overtaken by how long the Fed can keep rates higher to achieve its goals. BofA chart on peak rates from fund manager surveyInflationThe opinions expressed here are those of the author, a columnist for Reuters.

☆ Starship: Elon Musk's SpaceX prepares to launch the most powerful rocket system ever built
▼ + stars: | 2023-02-13 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +1 min

SpaceX is in the final stages of testing the world's biggest and most powerful rocket. Elon Musk says the reusable Starship rocket could take its maiden flight in March. The billionaire has set his sights high: he wants to launch the world's biggest, most powerful rocket, and then use it to take humans to the moon and then Mars. After over 10 years of development, Musk announced SpaceX is ready to attempt the maiden flight of its Starship mega-rocket in March. "It's not just a cool rocket project, but literally it has the potential to change the fate of humanity," he said.

☆ Electric Ram pickup debuts in Super Bowl ad that pokes fun at rivals, sex-drug commercials
▼ + stars: | 2023-02-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Ram's 2023 Super Bowl ad debuts the production version of the Ram 1500 REV electric pickup that is expected to go on sale late-next year. DETROIT – Stellantis will air a 60-second Super Bowl ad for its Ram brand to indirectly take shots at the current all-electric vehicle market, specifically pickup trucks. "Are you excited about buying an electric vehicle but worry that it could leave you ... The ad debuts the production version of the Ram 1500 REV electric pickup that is expected to go on sale next year. Online reservations for the electric pickup, which debuted as a concept in January, also open Sunday.

☆ NHL roundup: Vladimir Tarasenko scores in Rangers debut
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +3 min

[1/4] Feb 10, 2023; New York, New York, USA; New York Rangers right wing Vladimir Tarasenko (91) skates against the Seattle Kraken during the first period at Madison Square Garden. Kaapo Kakko and Vincent Trocheck also scored in the three-goal opening period as the Rangers improved to 5-0-1 since revamping their lines. Ryan Lindgren, Jacob Trouba and Zibanejad added goals for New York, and Igor Shesterkin made 26 saves. Andreas Athanasiou finished with a goal and two assists, Colin Blackwell and Seth Jones also scored goals and Sam Lafferty added two assists for the Blackhawks. Mason McTavish scored in a two-point game and Trevor Zegras and John Klingberg added a goal apiece for the Ducks.

☆ A new high-altitude flying object shot down over Northern Canada, Prime Minister Justin Trudeau says
▼ + stars: | 2023-02-11 | by ( ) www.cnbc.com time to read: +5 min

Canada's Prime Minister Justin Trudeau speaks to media in the House of Commons foyer on Parliament Hill in Ottawa, Ontario, Canada February 1, 2023. "Earlier today, President Biden spoke with Prime Minister Trudeau on the unidentified, unmanned object in North American air space," according to a statement from the White House. According to U.S. Northern Command, recovery operations continued Saturday on sea ice near Deadhorse, Alaska. In a statement, the Northern Command said there were no new details on what the object was. Additional debris was pulled out Friday, and operations will continue as weather permits, Northern Command said.

☆ Why you won't see many car ads during Sunday's Super Bowl
▼ + stars: | 2023-02-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

The average cost of a 30-second commercial during last year's Super Bowl was $6.5 million, up more than $2 million over 2016 rates. Automakers — historically among the largest Super Bowl advertisers — are mostly bypassing this Sunday's NFL championship game to preserve cash or spend ad dollars elsewhere. And EV startup Polestar, whose ad was a success in the 2022 Super Bowl, said it will also not advertise this year. Ferrell also appeared in GM's Super Bowl ad promoting EVs two years ago. Stellantis has not released its ads, while GM, Kia and WeatherTech released their commercials earlier this week.

If they start to reverse, then you'll see things reversing for next year, but we have to wait and see," he said. Slashing prices also reflects stiffening competition in some markets as companies struggle with waning consumer demand and households tighten budgets. Kraftliner prices, up 60 euros per tonne in the first half, have since fallen by 120 euros a tonne. Europe's gas rollercoasterWAGES AND BORROWING COSTSSome companies won't make cuts though, as they protect margins or face higher wages and borrowing costs. "It does signal a retreat in operating margins for firms like Smurfit, hence the negative reaction in the share price this morning," he said.

☆ France's Macron faces third round of pension reform strikes
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +3 min

[1/3] A member of CFDT labour union prepares placards on the eve of the third day of national strike and protests in France against French government's pension reform plan, in Nice, France, February 6, 2023. "Our pension system is structurally in deficit," Labour Minister Olivier Dussopt told parliament on Monday afternoon as lawmakers began debating the bill. The government says the reform will allow gross savings of over 17 billion euros ($18 billion) per year by 2030. Conservative opponents, whose support Macron needs for a working majority in the National Assembly, want concessions for those who start working young. "The reform will never be accepted if the most wealthy don't contribute," former Socialist president Francois Hollande told BFM TV.

PARIS, Feb 6 (Reuters) - French investment firm Eurazeo (EURA.PA) ousted Chief Executive Virginie Morgon on Monday and named a new executive board following a row with the group's number one shareholder, the Decaux family, a source close to the matter said. Jean-Charles Decaux, Eurazeo's chairman, pushed for the decision after a number of matters caused friction between Morgon and the Decaux family, which owns 18% of Eurazeo, the source said. A spokesperson for Jean-Charles Decaux, who is also co-CEO of JCDecaux (JCDX.PA), the world's biggest outdoor advertising firm, declined to comment. In a statement Jean-Charles Decaux, Eurazeo's supervisory board president, called the newly appointed executive board "collegial" and "focused". ($1 = 0.9298 euros)Reporting by Mathieu Rosemain and Sudip Kar-Gupta; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Britain hit by biggest day of strikes in a decade as pay disputes escalate
▼ + stars: | 2023-02-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The bill would require basic service levels to be maintained in the fire, ambulance and rail sectors in the event of walkouts. Strikes will affect around 23,400 schools, about 85%, in England and Wales, with many closed fully or partially. According to the union, pay for experienced teachers has declined by 23% since 2010 once inflation is taken into account. In a sign that industrial unrest could escalate further, UK firefighters have voted to strike for the first time since 2003. The Fire Brigades Union has given the government until February 9 to make an improved pay offer.

☆ Emerging markets growth slowdown bottomed out in 2022, but risks remain -IMF
▼ + stars: | 2023-01-31 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

NEW YORK, Jan 30 (Reuters) - The International Monetary Fund on Monday raised its output growth estimate on emerging markets for this year, with projections now showing the economic slowdown in the region may have bottomed out in 2022, on the back of China reopening, a resilient India and unexpected growth in Russia. Inflation, a recent hamper on growth, is seen high although continuing to slow this year and next. Russia, on the other hand, has seen a 2.6 percentage point increase in the 2023 growth projection, which translates to a view of a 0.3% expansion this year. Brazil and Mexico, Latin America's largest economies, were both upwardly revised in their 2023 economic growth by 0.2 and 0.5 percentage point, respectively. For Latam and the Caribbean, the overall increase in the growth estimate was just 0.1 percentage point, to 1.8%.

☆ IMF slashes UK growth outlook, adding pressure on finance minister Hunt
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Henry NichollsLONDON, Jan 31 (Reuters) - Britain is the only Group of Seven nation to have suffered a cut to its 2023 economic growth outlook in International Monetary Fund forecasts published on Tuesday, adding to pressure on finance minister Jeremy Hunt to come up with a growth plan. Britain's flagging economy now looks set to shrink by 0.6% this year, a sharp downgrade from previously expected growth of 0.3% in the IMF's last forecast in October. All other G7 economies are predicted to grow this year, mostly at a stronger pace than the IMF forecast three months ago. Responding to the IMF report, Hunt said nearly all advanced economies were facing headwinds, and that past forecasts from a range of bodies including the IMF had proven too gloomy about Britain's prospects. Hunt is due to announce measures that he hopes will speed up growth in a budget statement on March 15.

STRONG DEMANDIn its 2023 GDP forecasts, the IMF said it now expected U.S. GDP growth of 1.4%, up from 1.0% predicted in October and following 2.0% growth in 2022. It said the euro zone had made similar gains, with 2023 growth for the bloc now forecast at 0.7%, versus 0.5% in the October outlook, following 3.5% growth in 2022. The IMF said Europe had adapted to higher energy costs more quickly than expected, and an easing of energy prices had helped the region. Gourinchas said together, the two Asian powerhouse economies will supply over 50% of global growth in 2023. Even with China's reopening, the IMF is predicting that oil prices will fall in both 2023 and 2024 due to lower global growth compared to 2022.

☆ The IMF thinks we may actually skirt a recession. It is also surprisingly upbeat about Russia's economy.
▼ + stars: | 2023-01-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The IMF expects the world economy to grow 2.9% in 2023 — which is better than its October forecast of 2.7%. The IMF also expects Russia's economy to grow 0.3% — a reversal from its contraction of 2.2% in 2022. The IMF expects Russia's economy to expand 0.3% in 2023 and 2.1% in 2024 — a stark reversal from an expected 2.2% contraction in 2022. The IMF had predicted in October that Russia's economy would contract by 3.4% in 2022. The fund told Reuters that Russia's economy was supported by a "fairly high" export revenue in 2022 and robust fiscal stimulus in part from military spending.

☆ Global core inflation could return to pre-Covid levels in 2024, IMF says
▼ + stars: | 2023-01-31 | 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 EmailGlobal core inflation could return to pre-Covid levels in 2024, IMF saysPierre-Olivier Gourinchas, chief economist at the International Monetary Fund, says "the job is not done yet" and central banks will probably remain in tightening mode in 2023.

☆ Central banks are fighting a war on inflation. They're not done yet
▼ + stars: | 2023-01-31 | by ( Julia Horowitz | ) edition.cnn.com time to read: +6 min

London CNN —One of the main jobs of central banks is to keep prices under control, allowing households and businesses to plan for the future with some certainty on what things will cost. Tolga Akmen/EPA-EFE/ShutterstockPolicymakers face difficult questions about exactly when to pause interest rate hikes. The European Central Bank’s main rate is 2%, while the Bank of England’s is 3.5%. Still, investors are becoming increasingly confident that major central banks will change course soon. “Central banks are relatively close to the end,” Sels said.

☆ IMF downgrades UK growth forecast, predicting only economic decline among G-7 countries
▼ + stars: | 2023-01-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — The International Monetary Fund downgraded its outlook for the U.K. economy even as it turns more optimistic on global growth. Its new 2023 forecast on Monday evening also sees the U.K. as the only "advanced economy" to contract, by 0.6%. This is 0.9 percentage points lower than its previous estimate. The IMF forecasts 1.4% growth in the U.S. in 2023, 0.7% growth in the euro area, 1.8% growth in Japan and 1.5% growth in Canada. Meanwhile, it hiked its outlook for the global economy by 0.2 percentage points from its last report in October, to 2.9%.

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