Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Market Intelligence"


25 mentions found


Weak oil demand to lower GCC economic growth in 2023
  + stars: | 2022-10-20 | by ( Anant Chandak | ) www.reuters.com   time to read: +4 min
BENGALURU, Oct 20 (Reuters) - Economic growth in the six-member Gulf Cooperation Council will remain strong but slow significantly next year as high oil prices hurt demand for the commodity, a Reuters poll showed. China, the world's largest crude oil importer, has been fighting COVID-19 flare-ups and stuck to a zero-COVID-19 policy that is weighing heavily on economic activity and global oil demand. "GCC countries have benefitted from sharply higher oil prices, turning budget deficits into surpluses, and increased oil production which has bumped up GDP growth. Among other GCC economies, growth was expected to drop next year in the United Arab Emirates, Qatar and Oman, while in Bahrain growth was forecast to slow to 3.0% compared with 3.4% this year. As other economies reduce their reliance on oil Gulf countries are diversifying their revenue streams.
"Yesterday's risk-on vibe looks to be continuing into today's session," said Michael Brown, head of market intelligence at payments firm Caxton in London. U.S. stock market gains were also driven by strong corporate earnings from Goldman Sachs (GS.N) and Johnson & Johnson (JNJ.N). Against a basket of currencies, the dollar was 0.05% higher at 112.13, after having earlier slipped to a near two-week low of 111.76. The risk-sensitive New Zealand dollar rose about 0.71% to $0.5676, taking support from hotter-than-expected consumer inflation data which bolstered bets for further rate hikes. Bitcoin was 0.4% lower at $19,440.17, clinging close to the levels it has traded at for the last four weeks.
Omar Raja joined ESPN in 2020 and is the face of the "SportsCenter" Instagram account. ESPN averages more than 400 social posts a day and has focused more on TikTok recently. Raja, 28, honed his craft as a teenager compiling "Call of Duty" clips on YouTube and, more famously, by creating the basketball-focused Instagram account House of Highlights. Raja is the face of the account — the bio reads, "I'm @Omar and this is SportsCenter!" Raja has helped grow the "SportsCenter" presence on Instagram to 32 million followers, from about 15.4 million when he started.
Margarine prices swelled by about 4% in the month from August to September, meaning they've continued to trend upward in the short term. 1 producer and exporter of sunflower oil, which accounts for 9% of all vegetable oil produced globally. "Supplies of these alternatives are expected to be tight in the 2021/22 marketing year, contributing to elevated vegetable oil prices." Palm oil accounts for 35% of all vegetable oil made globally, the largest share relative to the aforementioned oil commodities. Annual oil prices — and those of its byproducts, like gasoline and diesel — skyrocketed as a result.
British pound and gilts soar after Hunt rolls back tax cuts
  + stars: | 2022-10-17 | by ( ) www.reuters.com   time to read: +9 min
Jeremy Hunt on Friday replaced Kwasi Kwarteng, who Prime Minister Liz Truss sacked following the so-called "mini-budget" on Sept. 23 that sent UK assets sliding. Hunt on Monday announced a series of tax changes that he said would raise 32 billion pounds ($36.19 billion) a year in extra revenues. STERLING: The pound rose against the dollar and the euro, gaining 1.1% and 0.7%, respectively , . So the UK is not the outlier when it comes to its monetary policy and its fiscal policy. STUART COLE, HEAD MACRO ECONOMIST, EQUITI CAPITAL, LONDON:"I think it would be a brave person to be buying sterling quite yet.
While there is limited pressure overall as many businesses refinanced in 2020 and 2021 when funding was cheaper and investor appetite stronger, high-yield companies with immediate financing needs have to find the right time to tap investors, corporate bankers say. Adding loans and revolving-credit facilities, speculative companies have maturities of around $1.47 trillion through 2027, ratings firm Moody’s Investors Service said last week. And the high-yield bond market isn’t closed, it has just become more expensive, bankers said. Movie theater chain AMC Entertainment Holdings Inc. on Friday said that its subsidiary Odeon Finco PLC priced a $400 million bond. Bankers said they have received few calls from triple C-rated companies in recent months looking for maturity extensions.
The blockbuster transaction comes amid a slowdown in deal making, economic uncertainty and concerns among investors about companies that carry high levels of debt. Cincinnati-based Kroger said Friday that it will pay for the $24.6 billion deal with cash and proceeds from a new debt financing. The company secured a 364-day, $17.4 billion bridge loan from Citigroup Inc. and Wells Fargo & Co., it said in a securities filing. Kroger will temporarily pause buybacks with the goal of giving priority to debt reduction after the transaction closes, the company said Friday. The company on Friday didn’t say what its leverage ratio will be after the transaction closes.
The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland October 4, 2022. A spokesperson for Credit Suisse, which will unveil its strategic review alongside its results on Oct. 27, said it would be premature to comment on any outcome before then. Credit Suisse shares have plunged almost 50% since the start of the year, trimming its market value to 11.88 billion francs. Credit Suisse's five-year credit default swaps, a key risk benchmark, were indicated as high as 363 basis points on Wednesday, data from S&P Global Market Intelligence shows. "Credit Suisse is facing the biggest upheaval the bank has ever seen," Thomae from Deka Investment said.
TSMC Isn’t Immune to the Chip Downturn—or Geopolitics
  + stars: | 2022-10-13 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
TSMC headquarters in Taiwan. Taiwan Semiconductor Manufacturing Co. keeps exceeding expectations amid the malaise affecting the broader chip industry. But it isn’t immune to the sector slowdown and intensifying geopolitical risks. TSMC, the world’s largest made-to-order chip maker, on Thursday reported another stellar quarter of earnings for the three months ended in September. Revenue grew 15% from the previous quarter while operating profit increased 18%—both hit a record and were better than analysts’ expectations on S&P Global Market Intelligence.
'The recession has begun' The U.K. is the only G-7 economy not to have re-attained its pre-pandemic GDP level by the second quarter of 2022, Citibank Chief U.K. The ONS said GDP was only just returning to its pre-pandemic level, highlighting the challenge facing Prime Minister Liz Truss' "growth, growth, growth" agenda. "We now believe the recession in the U.K. has begun in the third quarter of 2022 and will likely last for three quarters. "The cost of living crisis is having a detrimental effect on individuals, not only financially, but physically and mentally too." Members of the CWU (Communication Workers Union) also continue to strike, including 115,000 postal employees of former state monopoly Royal Mail.
LONDON, Oct 12 (Reuters) - The cost of insuring the debt of Credit Suisse (CSGN.S) against default rose on Wednesday, while its bonds and shares fell, after reports that the Swiss lender may be the subject of a U.S. tax investigation. Credit default swaps, an instrument that will pay its holder in the event of an issuer defaulting, rose to 337 basis points (bps) from 323 bps, according to S&P Global Market Intelligence. The U.S. Justice Department is investigating whether Credit Suisse continued helping U.S. clients hide assets from authorities, eight years after the Swiss bank paid a $2.6-billion tax evasion settlement, Bloomberg News reported on Tuesday. read moreCredit Suisse's additional tier 1 dollar-denominated bonds fell by as much as 0.7 cents to 90.259 cents, while its euro-denominated bonds dropped 0.75 cents to 73.30, according to Tradeweb data. Register now for FREE unlimited access to Reuters.com RegisterReporting by Amanda Cooper; Editing by Karin StroheckerOur Standards: The Thomson Reuters Trust Principles.
Sterling choppy as BoE sends mixed messages
  + stars: | 2022-10-12 | by ( Samuel Indyk | ) www.reuters.com   time to read: +3 min
By 0746 GMT, the British pound was up 0.1% against the dollar to $1.0969, snapping five days of losses. Until the market gets that I think any Sterling rallies are ripe to be sold into," Brown added. "Further rises in Bank Rate are warranted," Lloyds Bank senior economist Hann-Ju Ho said in a note, even as he expects the economy to contract in the third quarter. Looking ahead, the BoE's Financial Policy Committee is scheduled to publish its latest financial policy summary and record at 0930 GMT. Meanwhile, BoE policy makers Jonathan Haskel (0800 GMT), Huw Pill (1135 GMT) and Catherine Mann (1700 GMT) are all scheduled to speak later in the day.
FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File PhotoLONDON (Reuters) - The cost of insuring exposure to China’s sovereign debt rose to the highest level since January 2017 on Tuesday, data from S&P Global Market Intelligence showed. China’s five-year credit defaults swaps added 5 basis points (bps) from Monday’s close to hit 112 bps, the data showed. China CDS started the year at 40 bps. However, Prolonged COVID-19 lockdowns and long-running disputes over technology with the United States have weighed heavily on domestic consumption and growth.
LONDON, Oct 11 (Reuters) - The cost of insuring exposure to China's sovereign debt rose to the highest level since January 2017 on Tuesday, data from S&P Global Market Intelligence showed. China's five-year credit defaults swaps added 5 basis points (bps) from Monday's close to hit 112 bps, the data showed. With the exception of its deeply indebted property sector, which has also been the target of a policy crackdown, China's external debt levels are contained. However, Prolonged COVID-19 lockdowns and long-running disputes over technology with the United States have weighed heavily on domestic consumption and growth. Register now for FREE unlimited access to Reuters.com RegisterReporting by Karin Strohecker; editing by Marc JonesOur Standards: The Thomson Reuters Trust Principles.
An $82 million Palm Jumeirah villa is now the most expensive home ever sold in Dubai. The previous record was set in early April by the sale of a $76.2 million villa, also in Palm Jumeirah. Known as Casa Del Sole, the villa is located on Frond G of the Palm Jumeirah, per Bloomberg. In the exclusive neighborhoods of Palm Jumeirah, Emirates Hills, and Jumeirah Bay Island, only eight new homes are expected to be completed between 2023 and 2025, per Knight Frank. Dubai's previous real-estate record was set in early April by the sale of a $76.2 million villa, also in Palm Jumeirah.
Less Growth Seen for 2023 U.S. Ad Spending
  + stars: | 2022-09-29 | by ( Megan Graham | ) www.wsj.com   time to read: +2 min
Magna, a media investment firm that conducts industry research, reduced its U.S. advertising growth forecast for 2023, saying a weaker economic environment is likely to cut into spending. Despite the less optimistic outlook, certain factors will still underpin advertising growth, according to Vincent Létang, executive vice president of global market intelligence at Magna and author of the company’s reports on ad spending. Magna also cut its expectations on nonpolitical ad spending for the second half of this year. But it added that the uncertain economy would lead some sectors to spend less than they might have in the second half. Excluding cyclical political and international sports events, ad spending this year will grow 8.1%, Magna anticipated, down from the 9.5% increase it predicted in June.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 26, 2022. The continent-wide index (.STOXX) was up 1.2%. Goldman Sachs expects the European Central Bank to hike rates by 75 basis points at its next two meetings, Bloomberg News reported. The STOXX 600 dropped 5.2% so far this month, set for its second straight monthly loss, as Europe grapples with energy and the cost-of-living crises amid the Russia-Ukraine war hampering gas flows, and hawkish central bank moves. read moreHugo Boss AG (BOSSn.DE) slipped 0.8% after Deutsche Bank downgraded the German fashion house's stock to "hold", citing "fading tailwinds".
British Pound Sterling and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. Deutsche Bank's Currency Volatility Index – the historical volatility index of the major G7 currencies - jumped to a two-and-a-half year high of 13.55 on Monday. While Sterling and the yen have fared extremely poorly against the dollar, the greenback's meteoric rise has spared no major currency. Reuters GraphicsMoves have surprised long-time currency traders and investors. "Our team is working around the clock from multiple global locations," said Kamboj, adding he is not trading sterling because the pound's direction now depends entirely on how the Bank of England reacts.
Four Ways to Save Money on Car Insurance as Rates Rise
  + stars: | 2022-09-26 | by ( Veronica Dagher | ) www.wsj.com   time to read: 1 min
Drivers who have been complaining about high gas prices can now shift gears and gripe about car-insurance rates instead. While the average cost of a gallon dropped about 26% since June, car-insurance premiums have risen 8.3% on average compared with a year ago, according to S&P Global Market Intelligence. Inflation is only partly to blame.
Japan's factory activity expands at slowest pace in 20 months
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +2 min
The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) slipped to a seasonally adjusted 51.0 in September from the prior month's final of 51.5. The headline figure marked the slowest expansion since January 2021, although it stayed above the 50-mark that separates contraction from expansion. Register now for FREE unlimited access to Reuters.com RegisterIt was pulled down by struggling output and overall new orders, both of which contracted for the third consecutive month. The au Jibun Bank Flash Services PMI Index returned to expansion, coming in at a seasonally adjusted 51.9 in September from August's 49.5 final, the survey also showed. Register now for FREE unlimited access to Reuters.com RegisterReporting by Daniel Leussink; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.
S&P Global's flash composite Purchasing Managers' Index (PMI), which tracks both the manufacturing and services sectors which together account for more than two-thirds of Germany's economy, fell to 45.9 in September from August's final reading of 46.9. A Reuters poll of analysts had pointed to a reading of 46.0. Separately, the manufacturing index fell to 48.3 from a final reading of 49.1 in August. The services index dropped to 45.4 from a final reading of 47.7 in August. Register now for FREE unlimited access to Reuters.com RegisterWriting by Paul Carrel; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Reactions: Britain's finance minister unveils "mini budget"
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +5 min
Britain's blue-chip stocks (.FTSE)remained mired in the red, in line with a broader equity-market decline. FOREX: Sterling extended losses, falling 1.9% on the day to around $1.1047, having hit a new 37-year low earlier on. British homebuilders and household goods makers hit session highs, buoyed by the prospect of consumers getting tax breaks. The tax-cutting budget and ‘go for broke’ growth aims are unlikely to change the longer-term bearish GBP trend." If you get more fiscal stimulus and less monetary stimulus, that’s something that’s buoyant for the currency.
In many instances, users switched over to it from Adobe products for those reasons. The fear is “not necessarily that it’s going to get worse, it’s that it’s just not going to get better anymore,” Mr. McCarthy said. Since last week, the social media site has become a popular forum for Figma users to voice their worries. If Figma price points approached some of the existing price points for Adobe products, “our costs would go through the roof,” said Mr. McCarthy. Both Adobe and Figma said that the strong community element is part of what made Figma so valuable and attractive to Adobe and they hope it can remain.
Some highly rated companies are turning to term loans instead of bonds for their financing needs, taking advantage of cheaper pricing as banks have been slower to adjust to rising interest rates than the credit markets. Highly rated companies raised $998.8 billion in bonds in the U.S. this year through Monday, compared with $177.9 billion in term loans, according to Refinitiv, a data provider. For all of last year, fundraising through bonds amounted to $1.46 trillion versus $236.7 billion for term loans for investment-grade-rated companies. Term loans often have a shorter duration than bonds, with many of them ranging from three to five years. Term loans tend to be secured,” Mr. Holtz said, pointing to the mixture of bonds and term loans that make up the company’s capital structure.
Thanks to inflation, you're likely paying more for just about everything these days, and car insurance is no exception. Depending on your policy, that could be a big problem, says Cate Deventer, insurance writer and editor at Bankrate. In the case of an accident, your insurance will pay up to a maximum amount specified in your policy. And the costs associated with car accident insurance claims are on the rise. In 2020, auto insurers paid out an average $20,235 for bodily injury claims from car accidents, per the Insurance Information Institute.
Total: 25