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☆ Lonza’s CEO churn adds to company’s ailments
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Denis Balibouse Acquire Licensing RightsLONDON, Sept 18 (Reuters Breakingviews) - Lonza’s (LONN.S) new broom will face even more challenges than its old one. Since he was appointed CEO in 2020, the Swiss group has increased capital expenditure as a percentage of revenue from 20% to 30% last year. Even before Monday’s fall, the stock was trading at 32 times its forward earnings, around the same level as before its pandemic surge. The disruption of another CEO exit, without a clear explanation, means that the hoped-for growth will take even longer to arrive. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Denis Balibouse, Pierre, Alain Ruffieux, Albert Baehny, Aimee Donnellan, Neil Unmack, Streisand Neto Organizations: REUTERS, Reuters, Swiss, X, Thomson Locations: Lonza, Visp, Switzerland, Swiss

☆ Dark money donations to Virginia Republicans outpace Democrats 6 to 1 in fight for control of the state legislature
▼ + stars: | 2023-09-16 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Virginia has seen nearly $1.7 million in outside spending for candidates in key 2023 races. All 140 seats in the Virginia legislature are up for grabs in districts that were recently redrawn. All 140 seats in the Virginia legislature — 100 in the House of Delegates and 40 in the state Senate — are up for grabs in November. But Democrats, who are seeking to maintain Senate control and win back the House, are competing hard for key seats in vote-rich metropolitan Richmond, Hampton Roads, and Northern Virginia. Youngkin has so far been unsuccessful in moving a 15-week abortion ban through the legislature, blunted by Democrats in the Senate.

Persons: Virginia, spender, Koch, Elizabeth Shimek, Glenn Youngkin, Youngkin, Roe, Wade Organizations: Service, Virginia Center, Investigative Journalism, WHRO, Virginia Department, Prosperity, Republicans —, Democratic, GOP, Gov, Republican, Republicans Locations: Virginia, Wall, Silicon, Richmond, Hampton Roads, Northern Virginia

The instruction by TSMC, which is grappling with delays at its $40 billion chip factory in Arizona, is aimed at controlling costs and reflects the company's growing caution about the outlook for demand, the sources said. Suppliers currently expect the delay to be short-term, the sources said, declining to be named as the information is not public. Companies affected by the instruction to delay include Dutch firm ASML (ASML.AS), which makes lithography equipment essential for high-end chipmaking, one of the sources said. ASM International (ASMI.AS), a smaller equipment firm that is also a supplier to TSMC, fell 4.2% with BE Semiconductor (BESI.AS), a packaging equipment firm, down 2.4%. CHIP CYCLE WORRIESThe Taiwanese chip giant is not alone in worrying a bounce back in demand may take longer than expected.

Persons: Dado Ruvic, TSMC, chipmaker, C.C, Wei, Peter Wennink, We've, Wennink, they're, Mark Liu, Sam Nussey, Fanny Potkin, Toby Sterling, Miyoung Kim, Stephen Coates Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Suppliers, Reuters, ASM, BE Semiconductor, Apple, Media, Huawei, Analysts, chipmaker Semiconductor Manufacturing International Corp, HK, Thomson Locations: TOKYO, SINGAPORE, AMSTERDAM, Arizona, China, Taiwan, Beijing, Washington, Tokyo, Singapore, Amsterdam

☆ Logitech founder calls on computer peripherals group to find new chairperson
▼ + stars: | 2023-09-15 | by ( John Revill | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Logitech International SA FollowZURICH, Sept 15 (Reuters) - Logitech (LOGN.S) co-founder Daniel Borel stepped up his call for it to find a new chairperson on Friday, after objecting to Wendy Becker's re-election to the role at the Swiss-American computer peripherals maker's AGM earlier this week. Borel, one of three people who founded Logitech (LOGN.S) in 1981, said the maker of computer mice and keyboards had lost its way under Becker, who has chaired it since September 2019. "I am not yet a dinosaur meddling, but I am worried about the future of Logitech, the company I created," Borel told Reuters. "Logitech needs a new chairperson, someone who can react to the changed market situation." Borel, who holds a stake of around 1.5% in Logitech said the downturn had not been recognised quickly enough.

Persons: Dado Ruvic, Daniel Borel, Wendy Becker's, Becker, Borel, Logitech, Jack Wills, Wendy, Bracken Darrell, John Revill, Alexander Smith Organizations: Logitech, REUTERS, Logitech International, Follow ZURICH, Swiss, Reuters, Thomson Locations: American, Swiss

☆ DeSantis' Disney board wants to cut millions from road fixes at the park. Meanwhile, it's facing huge legal fees to keep fighting Mickey Mouse in court.
▼ + stars: | 2023-09-14 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

DeSantis' Disney board may cut $3 million for roadway repairs and maintenance from its 2024 budget. The tentative budget cuts come as the board expects millions in legal fees in its battle against Disney. The chairman of the board slammed the ousted Disney board, accusing it of "cronyism." Chairman of the Central Florida Tourism Oversight District, Martin Garcia. Central Florida Tourism Oversight District, YouTubeThe district expects to spend over $2.6 million more in 2024 on legal fees — largely connected to DeSantis' ongoing feud with Disney.

Persons: DeSantis, Ron DeSantis, Florida —, Martin Garcia, Garcia Organizations: Disney, Service, Central, The Central, Politico, District Locations: Wall, Silicon, Florida, Central Florida, The Central Florida

Containers are seen at a terminal in the port of Hamburg, Germany November 14, 2019. Under a deal between MSC and the city of Hamburg, MSC will make a cash offer of 16.75 euros ($17.99) per share to acquire all listed class A stock in HHLA. The city of Hamburg, which owns 69% of HHLA's A shares and all of its unlisted S-shares, would retain control of Hamburg port with a 50.1% stake via the S-shares. A source familiar with the deal gave an enterprise value of 2.6 billion euros, including 1.4 billion euros in debt. HHLA said its management board would review the MSC offer.

Persons: Fabian Bimmer, Klaus, Michael Kuehne, Lloyd, Kuehne, Marc Zeck, Stifel, Nikolas Mauder, Kepler Cheuvreux, HHLA, Andrey Sychev, Sabine Wollrab, Rachel More, Emelia Sithole, David Holmes Organizations: REUTERS, Kuehne, Reuters, MSC, Thomson Locations: Hamburg, Germany, BERLIN, Hapag, HHLA, Germany's, Gdansk, Frankfurt

Containers are seen at a terminal in the port of Hamburg, Germany November 14, 2019. Under the deal between Switzerland-based MSC and the city of Hamburg, MSC will make a cash offer of 16.75 euros ($17.99) per share to acquire all listed class A stock in HHLA. The city of Hamburg, which currently owns 69% of HHLA's A shares and all of its unlisted S-shares, would retain control of Hamburg port with a 50.1% stake via the S-shares. A source familiar with the deal gave an enterprise value of 2.6 billion euros, including 1.4 billion euros in debt. HHLA said its management board would review MSC offer.

Persons: Fabian Bimmer, Klaus, Michael Kuehne, Hapag, Lloyd, Marc Zeck, Nikolas Mauder, Kepler Cheuvreux, Robert Habeck, HHLA, Andrey Sychev, Sabine Wollrab, Rachel More, Jason Neely, Mark Potter, Emelia Organizations: REUTERS, MSC, Reuters, Belgian, Thomson Locations: Hamburg, Germany, BERLIN, Switzerland, HHLA, Germany's, Swiss, China, Berlin, Gdansk, Frankfurt

BP scaled back its energy transition strategy earlier this year but still stands out among rivals as the only oil major with plans to cut oil and gas output by 2030 by 25%. Auchincloss told staff in a brief town hall meeting on Wednesday that the company's aims were unchanged. As part of his energy transition strategy he had committed to BP reaching net-zero emissions by 2050. BP's strategy came under renewed scrutiny after rival Shell (SHEL.L) slowed down its energy transition strategy in June. "(The BP board) have enough flexibility within the current strategy to focus more on cash flow," a second source close to the company said.

Persons: Chris Helgren, Looney, Murray Auchincloss, Bernard Looney's, Auchincloss, hasn't, Helge Lund, Murray, Ron Bousso, Dmitry Zhdannikov, Jane Merriman, Mark Potter, Elaine Hardcastle Organizations: BP, REUTERS, Board, Investors, Canadian, Reuters, Shell, Thomson Locations: Vancouver , British Columbia, Canada

☆ Feeling the heat: 44% of Japan firms see earnings hit from extreme weather - Reuters poll
▼ + stars: | 2023-09-13 | by ( David Dolan | ) www.reuters.com time to read: +2 min

REUTERS/Satoshi Sugiyama/File Photo Acquire Licensing RightsTOKYO, Sept 14 (Reuters) - Some 44% of Japanese companies see extreme weather events around the globe hitting earnings, a Reuters survey showed, highlighting the impact of scorching heat waves and torrential rains on firms in the world's third-largest economy. Disaster-prone Japan is no stranger to extreme weather events, including typhoons, floods and blistering heat. "Infrastructure is likely to be disrupted due to extreme weather conditions, which could result in emergency spending and lower productivity," wrote a manager at a company in the transport sector. The monthly Reuters Corporate Survey of 502 large and medium-sized non-financial Japanese firms, in which 248 responded, showed a majority of non-manufacturers had already felt or expected to feel the effects of extreme weather on their earnings. Flooding has been a particular headache for Japanese companies.

Persons: Satoshi Sugiyama, Japan Inc's, Fumio, David Dolan, Jacqueline Wong Organizations: Mitsubishi Motor, Rights, Reuters Corporate Survey, Reuters, Nikkei Research, Investment, Thomson Locations: Kurashiki, Japan

☆ Analysis: Investors call 'peak pessimism' for beaten-up UK stocks
▼ + stars: | 2023-09-13 | by ( Naomi Rovnick | ) www.reuters.com time to read: +6 min

"It feels like we've passed the peak of pessimism about the UK," said Daniel Lockyer, senior fund manager at 7 billion-pound investment and advice group Hawksmoor Investment Management, which increased its exposure to UK companies in August. Consumer stocks are outperforming as investors bet on the UK cost of living crisis becoming less intense. Reuters Graphics Reuters GraphicsLeigh Himsworth, UK fund manager at Fidelity International, said he was "trying to pick off UK retailers we can buy", while it was also "time to pick up some of the (UK) real estate sector." But while noting good economic reasons to call an upturn for UK stocks, fund managers also stressed the need for further steps from policymakers to revive interest in British equities. Premier Miton is lobbying policymakers to introduce a new tax-efficient investment vehicle for UK stocks.

Persons: Toby Melville, we've, Daniel Lockyer, Morningstar, Martin Walker, Walker, Samuel Tombs, Reuters Graphics Reuters Graphics Leigh Himsworth, Spencer, Neil Birrell, Premier Miton, Miton, Savvas Savouri, Naomi Rovnick, Dhara Ranasinghe, Sharon Singleton Organizations: London Stock Exchange, REUTERS, Inflation, LONDON, Apple, FTSE, Investment Management, Global, Reuters, Bank of England, Reuters Graphics Reuters Graphics, Fidelity International, Premier, Fidelity, Thomson Locations: Canary Wharf, London, Britain, U.S, COVID, outflows

BP’s (BP.L) chief executive resigned late on Tuesday after the UK oil giant’s board found he had not been sufficiently transparent about past relationships with company colleagues. While his exit appears unrelated to strategy, it puts Chair Helge Lund and the rest of BP’s board on the spot over the $112 billion group’s future direction. On the face of it, BP’s strategy should be unaffected by Looney’s missteps. While Looney subsequently revised the reduction in hydrocarbons to 25%, BP remained more committed to the energy transition than European rival Shell (SHEL.L) or U.S. giants Exxon Mobil (XOM.N) and Chevron (CVX.N). Reuters Graphics Reuters GraphicsLund and board colleagues may be minded to do the same.

Persons: Bernard Looney, Helge Lund, Looney’s missteps, Looney, Wael Sawan, Norway’s Equinor, Murray Auchincloss, Peter Thal Larsen, Sharon Lam Organizations: Reuters, BP, Shell, Exxon Mobil, Chevron, Exxon, New Shell, Reuters Graphics, Graphics Lund, International Energy Agency, Thomson Locations: Ukraine, Germany, U.S

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. In the past five months the improvement has been tremendous," TSMC Chairman Mark Liu said of the Arizona project last week. The $40 billion investment in Arizona allows TSMC to add capacity outside Taiwan, where it faces constraints on land, power, water and labour. "A lot of machines cannot be shut down because it costs TSMC to recalibrate on rebooting," said a chip industry executive. While many equipment and materials makers already have global operations, to meet its exacting standards TSMC has also brought suppliers to Japan from Taiwan, the sources said.

Persons: Ann Wang, TSMC, Mark Liu, Lucy Chen, Brady Wang, Sam Nussey, Fanny Potkin, Sarah Wu, Miho Uranaka, Jamie Freed Organizations: Taiwan Semiconductor Manufacturing, REUTERS, TSMC, Reuters, Isaiah Research, Sony, Ministry, Economy, Trade, Industry, Thomson Locations: Hsinchu, Taiwan, Japan, TOKYO, SINGAPORE, TAIPEI, Arizona, Kyushu, U.S, Germany, TSMC

☆ UBS lays out the best names to play the $2 trillion clean energy transition
▼ + stars: | 2023-09-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

A tidal shift in corporate support for decarbonization pared with government funding for the energy transition has created a secular growth cycle that can exceed $2 trillion, according to UBS. Second-quarter earnings reports showed a "clear divergence" in whether and how companies would be helped by the approximately $600 billion in government benefits in support of the green energy transition, analyst Shneur Gershuni told clients. Following the latest corporate earnings season, Gershuni updated his list of stocks that investors can use to play the energy transition capital expenditure cycle. Here are 10 that made the most updated list, including all of his new additions: Sempra's addition came after announcements showing it was upping exposure to the energy transition, Gershuni said. Despite falling around 19% this year, the average analyst sees an upside of more than 32% ahead, according to LSEG.

Persons: Shneur Gershuni, Gershuni, Eaton, Goldman Sachs, Carly Davenport, — CNBC's Michael Bloom Organizations: UBS, DTE Energy, SPX Technologies, FTC, Eaton Corporation, LSEG, NextEra Energy Locations: Sempra

☆ The one job AI should actually replace: CEOs
▼ + stars: | 2023-09-11 | by ( Ed Zitron | ) www.businessinsider.com time to read: +12 min

The only job that seems to be safe from the rise of ChatGPT and other AI tech is, oddly enough, the most expensive and easily automated role: CEO. Let's replace our CEOs with AI. Actually, AI is too advanced for that job, all you need is a Fisher Price tape recorder loaded up with a bad bunch of ideas." What better way can we hold a chief executive accountable than making sure they actually execute? Or perhaps the chief executives need to be far more afraid of losing their jobs to equally capable robots.

Persons: Scott Seiss, Fisher, it's, I'm, Proctor, A.G, Lafley, isn't, doesn't, Elon, David Zaslav, Zaslav —, Zaslav, shelve, I'd, Said, Ed Zitron Organizations: Harvard, Gamble, TSR, Warner Bros, Hollywood, Alliance, Television Producers Locations: Let's, California

Real wages adjusted for inflation fell in July for a 16th straight month in a sign households continued to feel the pinch from rising prices, separate data showed, boding ill for consumption. Exports remained solid in April-June with net external demand contributing 1.8% points to GDP growth, unchanged from the preliminary reading. But shipments to China slumped 13.4% in July to mark the 8th straight month of falls. Japan's economy has seen a delayed recovery from the COVID-19 pandemic this year, as rising living costs faltering global demand cloud the outlook. Given such uncertainties, Bank of Japan policymakers have stressed their resolve to keep monetary policy ultra-loose until the recent cost-driven inflation turns into price rises driven by domestic demand and higher wage growth.

Persons: Kim Kyung, Takeshi Minami, Yoshifumi Takemoto, Sam Holmes Organizations: Food, REUTERS, Norinchukin Research, Private, Bank of Japan, Thomson Locations: Soma, Fukushima Prefecture, Japan, TOKYO, China, Norinchukin

Japan's gross domestic product (GDP) expanded an annualised 4.8% in April-June, against a preliminary estimate of 6.0% growth. The revised reading compared with a median market forecast for a 0.7% decline. Private consumption, which makes up more than half of the economy, fell 0.6% quarter-on-quarter in the April-June period, compared with a preliminary 0.5% decline. Exports remained solid for now with net external demand contributing 1.8% points to GDP growth, unchanged from the preliminary reading. Japan's economy has seen a delayed recovery from the COVID-19 pandemic's scars this year, as rising living costs faltering global demand cloud the outlook.

Persons: Yoshifumi Takemoto, Sam Holmes Organizations: Bank of Japan, Thomson Locations: TOKYO

☆ The Fed's own economists now expect a Goldilocks scenario: No recession, low inflation, and positive growth
▼ + stars: | 2023-09-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Economists from the Federal Reserve Bank of Chicago predict inflation will cool without a recession. "That model implies larger effects of monetary policy and faster policy transmission than other empirical models," the economists said. So far, based on the analysis, tighter policy has resulted in 5.4 percentage points in the level of real GDP and 7.1 percentage points in CPI. That represents about 65% and 75% of the total tightening effects on the levels of real GDP and CPI, respectively, that will occur, according to the model. Policy has reduced total hours worked by about 4 percentage points, or about 40% of the total effect that is ultimately projected.

Persons: Stefania D'Amico, Thomas King, D'Amico, King, Henry Blodget Organizations: Federal Reserve Bank of Chicago, Service, Consumer, Index, CPI Locations: Wall, Silicon

☆ IMF, World Bank to step up cooperation on climate, debt, digital transition
▼ + stars: | 2023-09-07 | by ( David Lawder | ) www.reuters.com time to read: +4 min

REUTERS/Amit Dave/File photo Acquire Licensing RightsCompanies International Monetary Fund FollowWASHINGTON, Sept 7 (Reuters) - The International Monetary Fund and World Bank on Thursday issued a rare joint statement pledging to step up their cooperation to address climate change, debt vulnerabilities and countries' digital transitions. The IMF and World Bank were established in 1944 at a meeting in Bretton Woods, New Hampshire. DEBT VULNERABILITIESThe two institutions also said they will incorporate climate considerations into their work on debt sustainability for low-income countries. The IMF and World Bank have worked closely on debt sustainability issues, both pushing for improved restructuring frameworks. On the digital transition, the two institutions said they would collaborate to help countries to connect their citizens to online services and reduce barriers to digital inclusion.

Persons: Ajay Banga, Amit Dave, Kristalina Georgieva, Joe Biden, Banga, David Lawder, Paul Simao Organizations: Ministers, Central Bank governors, REUTERS, International Monetary, Monetary Fund, World Bank, Woods, IMF, Bank, Advisory Group, Sustainability Trust, Thomson Locations: Gandhinagar, India, Bretton Woods , New Hampshire, Banga, U.S

Chartbook: Global container freightIn the United States, the volume of container trade handled through the nine largest ports in July was the lowest for the time of year since 2017. The volume of container freight hauled on the major railroads in June was the lowest for the time of year since 2012. Container trade through the port of Singapore, a major transshipment point for the region, has climbed to record levels. Rising share prices would be consistent with an improving outlook for global trade, but the evidence for it so far is limited. Related columns:- 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: Mike Segar, pare, Korea’s, John Kemp Organizations: REUTERS, Manufacturers, Economic, Heathrow, China’s, Global, Thomson, Reuters Locations: Port Elizabeth , New Jersey, U.S, North America, Europe, Netherlands, United States, Japan, Narita, United Kingdom, Asia, Singapore, doldrums

☆ The damage of the economy's 'temporary burst of inflation' could stick around for years to come, says Paul Krugman
▼ + stars: | 2023-09-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

However, economist Paul Krugman argues inflation created lasting psychological and political damage. Instead, inflation, which now sits around 3.2% as of July, has had lasting psychological and political damage, Krugman argues. But with a strong labor market and unemployment levels remaining at around 3.8%, there's little argument that the economy is undergoing what Krugman calls "remarkable progress." According to the personal consumption expenditure deflator, the Fed's preferred inflation indicator, inflation fell below 3% for the last three months, well below last year's rate. The drastically high levels of unemployment many economists predicted two years ago are nowhere to be seen, as unemployment levels matched pre-Covid levels within three years — in comparison to over a decade following the 2008 recession.

Persons: Paul Krugman, Krugman, Goldman Sachs, there's, Biden, It's, Joe Biden's Organizations: Service, The New York Times, Quinnipiac University, Democrats, Trump, US, Biden Locations: Wall, Silicon, Russian, Ukraine

☆ 'The pendulum swung too far this summer': Morgan Stanley's stock chief warns it's time to take a risk-off approach to the market given the recent rally — and shares 3 trades to pile into instead
▼ + stars: | 2023-09-06 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

He likes "defensive growth stocks," industrials, and energy stocks. Morgan Stanley's Mike Wilson says the stock market's rally is likely running out of steam, and quickly. Also, on technicals, market breadth — or the share of stocks participating in the rally — is still weak. Morgan StanleyIn addition to over-extended technicals, Wilson said deteriorating fundamentals threaten the market. In particular, he's concerned about "real" consumer spending growth — or growth that accounts for inflation — which he and Morgan Stanley economists believe will dip negative year-over-year in the fourth quarter of 2023.

Persons: Mike Wilson, Morgan Stanley's Mike Wilson, Let's, Wilson, Morgan Stanley Organizations: bank's, Equity ETF, Vanguard Energy Locations: technicals, delinquencies

☆ At least 24 House members have spent taxpayer money on their Twitter accounts — and they're overwhelmingly Republicans
▼ + stars: | 2023-09-06 | by ( Bryan Metzger | Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

24 House members have reported spending taxpayer money on their official Twitter accounts this year. A recently-published government report on House members' office spending — encompassing April through June of this year — shows that 19 Republicans and 5 Democrats reported spending official funds on "Twitter Paid Features," recently rebranded as "X Premium." Additionally, the amount of money that offices are spending on Twitter is relatively minuscule compared to other expenses. In addition to lawmakers' personal offices, several House committees have spent money on enhanced Twitter features, including the Committees on the Budget, Financial Services, Oversight and Accountability, and Rules. Here are the 5 House Democrats who have spent taxpayer money on Twitter:Rep. Brendan Boyle of PennsylvaniaRep. Joaquin Castro of TexasRep. Jason Crow of ColoradoRep. Maxwell Frost of FloridaRep. Johnathan Jackson of IllinoisAdvertisementAdvertisementAnd here are the 19 House Republicans who have spent taxpayer money on Twitter:

Persons: —, Elon Musk, Lauren Boebert, Maxwell Frost of, Joey Hungerford, Kevin McCarthy —, Joaquin Castro, Joaquin Castro of Texas —, Brendan Boyle, Joaquin Castro of, Jason Crow, Maxwell Frost, Johnathan Jackson Organizations: Service, Twitter, Republicans, X, Republican, Financial Services, Democrats, Pennsylvania Rep, Joaquin Castro of Texas Rep, Colorado Rep, Florida Rep Locations: Wall, Silicon, Colorado, Maxwell Frost of Florida, Joaquin Castro of Texas, Illinois

☆ Here's our second-quarter earnings report card for 34 stocks in the portfolio
▼ + stars: | 2023-09-06 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

Eli Lilly not only reported a stellar second quarter, management was able to raise its full-year sales and adjusted earnings outlook as well. Though revenues were a tad short, earnings results were better than expected on a both a HAAP and adjusted basis. Constellation Brands' (STZ) sales and earnings results outpaced expectations. DuPont (DD) reported a good quarter prior to us initiating a position in the name. But the slight comparable-sales miss in North America prompted questions about the company's ability to hit its long-term targets of 10% to 12% revenue growth and 15% to 20% earnings growth.

Persons: That's, Eli Lilly, Mounjaro, Morgan Stanley, Stanley Black, Decker, it's, Wells Fargo, Sartorius, Estee Lauder, We're, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Procter, Gamble, TJX, Federal Reserve, Club, Costco, Emerson Electric, Humana, Oracle, Alto Networks, billings, Companies, Wynn Resorts, WYNN, North, Broadcom, Constellation Brands, DuPont, Ford, GE Healthcare Technologies, Linde, LIN, Microsoft, Natural Resources, Procter & Gamble, —, Health, Coterra Energy, Disney, Starbucks, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Macau, North American, DuPont's, India, North America, Los Angeles , California

☆ Ukrainian intercepts show Russian soldiers’ anger at losses, disarray
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +9 min

Story contains strong languageUkraine’s counteroffensive was in its second month when Andrey, a Russian soldier, called his wife to say his unit was taking heavy casualties. The expletive-laden intercepts, shared with Reuters by a Ukrainian intelligence source, provide a rare - albeit partial - glimpse into the conditions of some Russian soldiers as Kyiv prosecuted a major counteroffensive, which started in early June, two military analysts told Reuters. Ukraine has acknowledged that its efforts to recapture territory have been hindered by vast Russian minefields and well-prepared defensive lines. The Ukrainian intelligence source said they illustrated the challenges facing Russian soldiers but did not elaborate on how the recordings were selected. In the excerpts, several soldiers used profane language to describe Russian units that had taken heavy casualties and had been unable to retrieve their wounded.

Persons: Andrey, ” Andrey, “, Neil Melvin, Vladimir Putin, SBU, ” Maxim, Anna, Kupiansk, Maxim, Putin, ”, Elena, Alexei, “ Everyone’s, Dmitry Medvedev, Tom Balmforth, Filipp Lebedev, Eve Watling, Daniel Flynn Organizations: Security Service of Ukraine, Reuters, International Security, Royal United Services Institute, Russia’s Defence Ministry, Ukrainian General Staff, Lyman, Russia’s 52nd Regiment, U.S . Defence Intelligence Agency, “, ” Reuters, Russian Security Council Locations: Russian, Soviet, Soviet Union, Ukraine, Russia, London, Irkutsk, Russia’s, Afghanistan, Rubizhne, Ukraine’s, Luhansk

☆ Pork Industry Grapples With Whiplash of Shifting Regulations
▼ + stars: | 2023-09-05 | by ( Julie Creswell | More About Julie Creswell | ) www.nytimes.com time to read: +1 min

Other farmers say they’re simply not going to modify how they raise pigs. “We’re losing money in the pig industry,” said Trish Cook, the president of the Iowa Pork Producers Association, who, along with her family, raises pigs near Winthrop in eastern Iowa. “The idea of having a large capital expenditure with no clear payback on it doesn’t make business sense to us. However, Mr. Fong said that soon “we’ll be faced with some shortages and price hikes.”Mr. Davis of Oliver’s Markets said he already bought pork from Niman Ranch, a producer that exceeds the California criteria, but had also always offered customers less-expensive pork options. “Chicken and pork are still very affordable options, especially when compared to beef prices,” Mr. Davis said.

Persons: “ We’re, ”, Trish Cook, Ronald Fong, Fong, “ we’ll, Mr, Davis Organizations: Iowa Pork Producers Association, California Grocers Association, Labor, Oliver’s Markets, Tyson Locations: Winthrop, Iowa, California

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