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☆ Popp doubles down as Germany maul Morocco 6-0
▼ + stars: | 2023-07-24 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

MELBOURNE, July 24 (Reuters) - Talismanic captain Alexandra Popp scored a brace as Germany launched their bid for a third Women's World Cup title with a 6-0 demolition of debutants Morocco on Monday. I look forward to the next match, but today we want to be happy with what we did today. "As it stands we came across a team which was superior to our own -- David and Goliath," said Morocco coach Reynald Pedros. Whirling around in the box, Popp scored again in the 39th minute, Buehl's corner pinging off the back of her head. Lea Schueller completed the rout a minute before stoppage time, smashing in the sixth goal after team mate Lena Lattwein's attempt careened off the keeper.

Persons: Alexandra Popp, Popp, Klara Buehl, Lea Schueller, Martina Voss, Tecklenburg, Lionesses, David, Goliath, Reynald Pedros, Khadija Er, Ghizlane Chebbak, Merle Frohms, Lina Magull, Hanane Ait, Hanane Ait El Haj, Zineb Redouani, Lena Lattwein's, Ian Ransom, Christian Radnedge Organizations: MELBOURNE, Germany, Melbourne, Colombia, South, Thomson Locations: Morocco, Germans, South Korea, Sydney, Germany, Moroccan, Qatar, Hanane Ait El, Melbourne

☆ Smith scores brace to power champions US past Vietnam
▼ + stars: | 2023-07-22 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

[1/5] Jul 22, 2023; Auckland, NZL; USA forward Sophia Smith (11) gets the ball past Vietnam forward Huynh Nhu (9) in the second half of a group stage match in the 2023 FIFA Women's World Cup at Eden Park. The four-times champions have put their trust in the next generation this year and were rewarded with a showstopping performance from the 22-year-old forward, who also provided the assist for co-captain Lindsey Horan's goal in the second half. "We tried to be more tactical, skillful," Vietnam coach Mai Duc Chung told reporters via a translator. The U.S. face the Netherlands on Thursday in their second Group E game, a rematch of the 2019 World Cup final, while Vietnam next play Portugal. "The first one is in the books and the focus immediately shifts to game two," Andonovski said.

Persons: Sophia Smith, Huynh Nhu, Jenna Watson, Lindsey Horan's, Tran Thi Kim Thanh, Alex Morgan's, Vlatko Andonovski, Smith, Horan, Mai Duc Chung, Megan Rapinoe, Rose Lavelle, Andonovski, Amy Tennery, Robert Birsel Organizations: FIFA, USA, Sports AUCKLAND, Vietnam, Thomson Locations: Auckland, NZL, USA, Vietnam, Eden, United States, Morgan, U.S, Netherlands, Portugal

☆ Japan and its fans praised on social media for tidying dressing room and stands at Women’s World Cup
▼ + stars: | 2023-07-22 | by ( Issy Ronald | ) edition.cnn.com time to read: +1 min

CNN —After watching their team dismantle Zambia 5-0, several Japanese spectators won fans of their own as they stayed behind to clean the stands following their team’s opening Women’s World Cup match. Footage posted by the BBC showed several Japanese fans walking around the stadium with trash bags, picking up garbage left in the stands. Japanese fans have become known in recent years for their efforts to clean stands after they did so in matches at the men’s 2022 and 2018 World Cup and they were praised on social media for their efforts. Japan's players line up and acknowledge the crowd following their 5-0 win. Victory against Zambia, thanks to goals from Mina Tanaka, Jun Endo, Riko Ueki and a brace from Hinata Miyazawa, kicked off Japan’s World Cup campaign in style.

Persons: Mina Tanaka, Jun Endo, Riko, Miyazawa Organizations: CNN, BBC, Kyodo, Fox Soccer, FIFA, Twitter Locations: Zambia, Costa Rica

☆ US coach Andonovski rewarded for big bet on next generation
▼ + stars: | 2023-07-22 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

AUCKLAND, July 22 (Reuters) - U.S. head coach Vlatko Andonovski was rewarded for his faith in the next generation on Saturday, as young talent shone in a 3-0 win over Vietnam in their Women's World Cup opener at Auckland's Eden Park. Midfielder Savannah DeMelo, meanwhile, showed poise in her first international start, and 23-year-old defender Naomi Girma "looked like she has three world cups behind her," Andonovski said. Andonovski, who also put 18-year-old Alyssa Thompson on as a late substitute, said that the playing time will pay major dividends as the tournament progresses. "I do also believe that going into game two, they will go a little more encouraged, less nerves, no stress," said Andonovski. They are widely expected to be the toughest team the Americans face in Group E. They meet on Thursday.

Persons: Vlatko Andonovski, Andonovski, Sophia Smith, They've, Smith, Lindsey Horan, Savannah DeMelo, Naomi Girma, Alyssa Thompson, Amy Tennery, Robert Birsel Organizations: AUCKLAND, Vietnam, Thomson Locations: Eden, Netherlands, Auckland

☆ Sophia Smith stars as USWNT eases past Vietnam in its Women’s World Cup opener
▼ + stars: | 2023-07-21 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +2 min

CNN —The US Women’s National Team (USWNT) kicked off their Women’s World Cup campaign with a comfortable 3-0 victory against Vietnam. A brace from US soccer’s newest superstar Sophia Smith and a late goal from Lindsey Horan was enough to give the defending champion a dream start as it begins a historic World Cup campaign. The USWNT are chasing a third World Cup in a row and could not have asked for a better start,dominating proceedings from the outset before Smith opened the scoring just 14 minutes into her World Cup debut. The Portland Thorns forward squeezed the ball into the net – albeit with a much scrappier effort than her opener. As chances came and went for the USWNT, it took more brilliant work from Smith to extend the lead.

Persons: Sophia Smith, Lindsey Horan, Smith, Horan, Alex Morgan, Andrew Cornaga, Trinity Rodman, Morgan, Trần Thị Kim Thanh, Phil Walter, ” Smith, “ We’re, Vlatko Andonovski, ” Organizations: CNN, US Women’s National, Vietnam, Portland, Getty Locations: Vietnam

☆ Wall Street rides high into next week as traders brace for a major Fed decision and key earnings
▼ + stars: | 2023-07-21 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The recent streak of gains in markets could be in jeopardy next week as traders come up against a big Federal Reserve meeting and earnings shift into high gear. However, markets are ramping up just ahead of several catalysts next week that could roil markets. According to the CME FedWatch Tool, 83% of traders expect monetary policymakers will be done at that point. 'Floodgate' of earnings season including tech The biggest week for earnings season is also up ahead, with results having been mixed thus far. Personal Consumption Expenditure index (June) 10 a.m.: Consumer sentiment (July final) Earnings: Exxon Mobil , Chevron , Procter & Gamble , T. Rowe Price

Persons: Jerome Powell, Hogan, Powell, Shannon Saccocia, Jackson, Yung, Yu Ma, that's, Saccocia, Northrop Grumman, Rowe Price Organizations: Reserve, Dow Jones, Riley Wealth Management, BMO Wealth Management, Big Tech, Microsoft, Chicago, P Global, PMI, GE, GE HealthCare, GM, Boeing, Hess, ADP, CME Group, eBay, Honeywell, Hershey, McDonald's, Mastercard, Northrop, Royal, Enphase Energy, Mobile, Ford Motor, Intel, Mondelez, Exxon Mobil, Chevron, Procter, Gamble Locations: Royal Caribbean

☆ Cities brace for floods as heavier-than-usual storms drench China
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 21 (Reuters) - Rescue services braced for flooding as heavier-than-expected summer storms rolled across China as forecast on Friday, drenching Beijing and other major cities. Historically, China enters its peak rainy season in late July, but extreme weather has made storms more intense and unpredictable, exposing heavily built-up megacities with poor drainage to sudden floods and waterlogging. In Beijing, authorities have deployed this week over 2,600 people to drain 87 pumping stations in advance and clear thousands of water drainage outlets along roads, municipal authorities said in a statement on Friday. In July 2021, extreme rain in the central Henan city of Zhengzhou killed nearly 400 people, including 14 who drowned in a submerged subway line. Reporting by Ryan Woo and Liz Lee in Beijing; Editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: drenching, Ryan Woo, Liz Lee, Miral Organizations: Beijing Public Transport, Authorities, Xinhua, China Meteorological Administration, Thomson Locations: BEIJING, China, drenching Beijing, Beijing, Tianjin, Hebei, Inner Mongolia, Shanxi, Henan, Hubei, Jiangsu, Wuxi city, Gansu, Zhengzhou

☆ Is this extreme weather the ‘new normal?’ There’s no such thing, some scientists say
▼ + stars: | 2023-07-19 | by ( Laura Paddison | ) edition.cnn.com time to read: +6 min

Just over halfway through July and already a slew of extreme weather records has been broken. Southern Europe is experiencing one of its most extreme heat waves on record, with wildfires raging in Greece, Spain and Switzerland. It’s a shifting baseline of ever-more devastating impacts as long as the Earth continues to warm.”For scientists like Mann and Cloke, this year’s extreme weather has largely not been surprising. Extreme heat could be quickly followed by heavy rainfall impacting society, agriculture, and ecosystems in unusual ways,” she told CNN. The planet is around 1.2 degrees Celsius warmer than it was before the industrial revolution – still short of the 1.5 degrees scientists are warning the planet should stay under.

Persons: Petteri Taalas, ”, Hannah Cloke, Kim Hong, Reuters Michael E, Mann, we’ve, Cloke, Brandon Bell, Peter Stott, –, ” Mann, Vikki Thompson, ” Thompson, ” Read Organizations: CNN, Southwest, World Meteorological Organization, University of Reading, Reuters, University of Pennsylvania, UK Met Office, Royal Netherlands Meteorological Institute Locations: Northern, Southwest United States, Phoenix , Arizona, Southern Europe, Greece, Spain, Switzerland, Asia, China, South Korea, Japan, India, Cheongju, Antarctica, North, Phoenix, “

July 18 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Data on Monday showed that the world's second largest economy grew at a frail pace in the second quarter while China's Evergrande Group (3333.HK), the world's most indebted property developer, said it lost an eye-watering $81 billion over 2021 and 2022. The shadow over local markets cast by China's second quarter GDP data on Monday is unlikely to lift completely by Tuesday, and the pressure on policymakers in Beijing to deliver more stimulus to shore up activity will surely increase. Chinese GDP grew 0.8% in April-June from the previous quarter, beating the consensus forecast of 0.5%. JPMorgan, Morgan Stanley and Citigroup trimmed China's growth forecast for 2023 to as low as 5%, with Morgan Stanley also trimming its 2024 GDP forecast by 40 basis point to 4.5%.

Persons: Jamie McGeever, China's, Morgan Stanley, Janet Yellen, Josie Kao Organizations: HK, Nasdaq, JPMorgan, Citigroup, Treasury, Reserve Bank of Australia, Thomson, Reuters Locations: China, Asia, Japan, U.S, Beijing, Real, India

☆ Asia shares brace for China data to disappoint
▼ + stars: | 2023-07-17 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Figures out over the weekend showed China's new home prices were unchanged in June, the weakest result this year. The risk of even softer outcomes kept MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) down 0.2%, though that follows a 5.6% rally last week. S&P 500 futures and Nasdaq futures were both down 0.2%, but that followed hefty gains last week. PRICED FOR 2024 POLICY EASINGAs a result, markets still imply around a 96% chance of the Fed hiking to 5.25-5.5% this month, but only around a 25% probability of yet a further rise by November. Early Monday, Brent was off 58 cents at $79.29 a barrel, while U.S. crude fell 55 cents to $74.87.

Persons: Tesla, Morgan Stanley, Goldman Sachs, disinflation, Michael Feroli, Sterling, Brent, Wayne Cole, Lincoln Organizations: Tesla, Japan's Nikkei, Nasdaq, Bank of America, Netflix, JPMorgan, ., Thomson Locations: Japan, China, SYDNEY, Beijing, Asia, Pacific

Now, the man who had been tasked with reviving a nuclear deal to constrain that program has been sidelined. Progress on nuclear talks, as well as the fate of detained Americans in Iran, is likely to boost the incumbents in the polls, analysts have said. Malley was one of the architects of the 2015 nuclear deal reached with Iran under the Obama administration. The administration began negotiations to re-enter an Iran nuclear agreement later that year. “US policy is informed by the administration’s national security calculations, and not any one person in the national security apparatus,” Vaez said.

Persons: Biden, Rob Malley, Malley, Abram Paley, Paley, Jake Sullivan, sidelining, Obama, Donald Trump, Obama’s, Israel, Malley’s sidelining, Nasser Kanani, Javed Gurban Oghli, Israel ”, Gabriel Noronha, Trump, “, ” Noronha, ”, Ali Vaez, Vaez, ” Vaez, Foad Izadi, Ebrahim Raisi, Brett McGurk, McGurk, ” McGurk Organizations: CNN — United, CNN, State Department, Representative, US National, Crisis Group, ICG, Islamic, Iranian Foreign Ministry, Iranian, Jewish Institute for National Security of, Iran, US State Department, “, University of Tehran’s Faculty of World Studies, US National Security Council, Middle, National Security Council Locations: Iran, Tehran, Republic, Russia, Ukraine, Israel, Islamic Republic, Iranian, Middle East, Oman, Syria

☆ What investors need to know about weight loss medicines and suicide risk
▼ + stars: | 2023-07-16 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

Investors would be forgiven if talk of a potential suicide risk associated with a new class of diabetes and weight loss drugs led to skittishness last week. Prior attempts to treat overweight or obese patients with medications were often plagued with side effects and drug recalls. The first is that most obesity drugs, including GLP-1s, are "centrally acting," which means they work on a patient's brain. The second is that prior obesity drugs have been withdrawn because of high rates of psychiatric disorders, he said, citing Sanofi's Acomplia as one of the more recent examples. This was not the case for the GLP-1 medications.

Persons: skittishness, Eli Lilly's Trulicity, Lilly's, Wolfe, Tim Anderson, Anderson, Sanofi's Acomplia, Eli Lilly, Wolfe's Anderson, Colin Bristow, Lilly, LLY's, Peter Verdult, Wegovy, Verdult, Bristow, Emmanuel Papadakis, Papadakis, — CNBC's Michael Bloom Organizations: Nordisk's Ozempic, Wall Street, European Medicines Agency, EMA, Wolfe Research, FDA, UBS, Citi, Novo Nordisk, Deutsche Bank, Prevention Locations: United States, U.S

☆ Forest fire in Spain's La Palma island forces evacuations
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view of a wildfire in La Palma, Spain, July 15, 2023 in this screengrab obtained from a social media video. 1-1-2 Canarias Via Twitter/Handout via REUTERSBARCELONA, July 15 (Reuters) - A forest fire in the Spanish island of La Palma has forced the evacuation of at least 500 people, authorities said on Saturday, in the first natural crisis on the island since a volcanic eruption on 2021. At least 11 houses were destroyed as the fire advanced, Fernando Clavijo, president of the Canary Islands said on Saturday. It depends on whether we can bring these strong winds under control," Clavijo told reporters in La Palma. Authorities in the island were seeking help from other islands in the archipelago, such as Gomera and Tenerife.

Persons: Fernando Clavijo, Clavijo, Graham Keeley, Clelia Organizations: Via Twitter, REUTERS, La, Authorities, Thomson Locations: La Palma, Spain, REUTERS BARCELONA, Spanish, El Pinar de Puntagorda, Africa, Tenerife

☆ Wall St Week Ahead Investors brace for earnings from ‘Magnificent Seven’ US growth giants
▼ + stars: | 2023-07-14 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

[1/5] Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. In the S&P 500, the seven stocks comprise 27.9% of the index's weight. Investors will look beyond second quarter results, said Bill Callahan, an investment strategist at Schroders. The Elon Musk-led company this month said it delivered a record number of vehicles in the second quarter. The equal-weight S&P 500 (.SPXEW), a proxy for the average stock, is modestly beating the S&P 500 over the past month -- up 3.6% versus about 3% for its counterpart.

Persons: Joshua Roberts, BofA, Bill Callahan, “ It’s, ”, Tajinder Dhillon, Tesla, Elon, Thomas Martin, Martin, Yu Ma, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: Apple Inc, REUTERS, Apple, Microsoft, Nvidia, BofA, Research, Meta, Globalt Investments, Strong U.S, BMO Wealth Management, Thomson Locations: Washington , U.S, U.S, ”

☆ Another earnings season begins, but investors are already looking beyond it
▼ + stars: | 2023-07-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —As the second-quarter earnings season kicks off this week, investors want answers on the health of the United States’ companies and its economy. The projected second-quarter earnings decline for companies listed in the S&P 500 is roughly 7.6% compared to the prior year, according to FactSet. That would be the third consecutive quarter of declines and the largest earnings decline reported by the broad-based index since a roughly 32% loss during the second quarter of 2020. But investors will be looking even more closely at what companies forecast for their financial performance and the broader economy. Energy secretary vows to replenish Strategic Petroleum ReserveEnergy Secretary Jennifer Granholm said the United States will refill the depleted Strategic Petroleum Reserve, reports my colleague Matt Egan.

Persons: It’s, ”, Paul Eitelman, What’s, Steve Wyett, Jennifer Granholm, Matt Egan, Joe Biden, “, ” Granholm, Biden, Granholm, ” Read, Danielle Wiener, ” Jared Bernstein, Read Organizations: CNN Business, Bell, New York CNN, United, Wealth Management, Gross, North America, Russell Investments, Macy’s, Costco, JPMorgan Chase, Citigroup, BOK Financial, Energy, Strategic Petroleum Reserve Energy, Strategic Petroleum Reserve, CNN, The Energy Department, Bronner, of Labor Statistics, of Economic Advisers Locations: New York, United States, Wells Fargo, BlackRock, Ukraine, That’s

☆ Opinion | Democrats, It’s OK to Talk About Hunter Biden
▼ + stars: | 2023-07-13 | by ( Frank Bruni | ) www.nytimes.com time to read: +1 min

Many of your liberal acquaintances will shush and shame you: Speak no ill of Joe Biden! Never mind that you’re examining his behavior, not the year on his birth certificate. You’ll be asked: What do Hunter Biden and diminished vim matter next to the menace of Donald Trump and a Republican Party in his lawless, nihilistic thrall? That’s a fair question — to a point. But past that point, it’s dishonest and dangerous.

Persons: Biden, Joe Biden, MAGA, ’, You’ll, Hunter Biden, Donald Trump, thrall Organizations: Democratic, White, Fox News, Republican Party

☆ 'This fight is not over': What to know about Biden's new plan to forgive student debt
▼ + stars: | 2023-07-12 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

President Joe Biden announces new actions on June 30, 2023 to protect borrowers after the Supreme Court struck down his student loan forgiveness plan. Biden had hoped to move quickly canceling people's student debt, promising people the relief within six weeks of them completing their paperwork. Unlike Biden's first attempt to forgive student debt quickly through an executive order, this time he's turning to the rulemaking process. It's unlikely that Biden's Plan B for student loan forgiveness will be successful, Kantrowitz said. He expects the president's second attempt at forgiving student debt to be met by many of the same lawsuits as the first.

Persons: Joe Biden, Chip Somodevilla, overreach, John Roberts, Roberts, Biden, Lyndon B, Johnson, Chuck Schumer, didn't Biden, Herrine, Trump, Biden's, Kantrowitz, Luke Herrine Organizations: U.S . Department of Education, Republican, Supreme, GOP, South Carolina —, Job, Network Foundation, Biden, . Nebraska, Education Department, Higher, University of Alabama Locations: delinquencies, — Nebraska , Missouri , Arkansas , Iowa , Kansas, South Carolina, .

☆ JPMorgan's top equity guru says buy more government bonds, avoid stocks as a recession looms at the turn of the year
▼ + stars: | 2023-07-11 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors should buy more government bonds to brace for the likelihood of a recession hitting later this year, JPMorgan's top equity strategist says. Investors are increasingly deserting defensive positions as more market participants expect a soft landing scenario for the economy. But JPMorgan's Marko Kolanovic said investors are mistaken and continues to see a year-end recession as his base case outlook. "This benign and complacent pricing of recession risk, along with increasing signs that a credit cycle is emerging, makes us turn more negative on corporate bonds and more positive on government bonds," Kolanovic wrote to clients Monday. "We therefore trim our allocation to credit by shifting two percentage points away from corporate bonds and into government bonds in our model portfolio," Kolanovic wrote.

Persons: JPMorgan's Marko Kolanovic, Kolanovic Organizations: Nasdaq Locations: 4Q23

☆ Trinity Rodman, daughter of an NBA legend, shines for USWNT before team departs for Women’s World Cup
▼ + stars: | 2023-07-10 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Trinity Rodman scored twice as the United States Women’s National Team (USWNT) beat Wales 2-0 on Sunday in its final warmup game before the Women’s World Cup. Rodman, the daughter of NBA legend Dennis Rodman, came on as a second half substitute before scoring a brace late in the game. In 2021, Rodman made history after becoming the youngest woman ever selected in the NWSL draft. She was named NWSL Rookie of the Year later that year as she helped her team lift the NWSL title. Rodman made her highly-anticipated debut for the national team in 2022 and is part of a new generation of players looking to cement the USWNT’s legacy as the greatest team in women’s soccer.

Persons: Trinity Rodman, Rodman, Dennis Rodman, “, ”, Vlatko Andonovski, Karen Ambrose Hickey, Sipa, Megan Rapinoe Organizations: CNN, United States Women’s National, Wales, Washington Spirit, Reuters, Washington Locations: United, Australia, New Zealand, Vietnam, Netherlands, Portugal, San Jose , California

☆ Stock futures climb ahead of a key inflation data week for Wall Street and the kickoff of second-quarter earnings season
▼ + stars: | 2023-07-09 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on June 14, 2023 in Washington, DC. Stock futures ticked up on Sunday evening as investors prepare for a slate of inflation data on Wednesday and Thursday and brace for the start of the second-quarter earnings season. Nasdaq 100 futures climbed 0.01% while S&P 500 futures gained about 0.1%. Stocks are heading into a new week after closing lower on jobs data from ADP and the Labor Department last week. "The reason is negative operating leverage — when cost growth exceeds sales growth, earnings growth takes a steep hit."

Persons: Jerome Powell, Finance behemoths, Wells, Morgan Stanley, Edward Stanley Organizations: Federal Reserve, Federal, Market, Dow Jones, Nasdaq, Labor Department, Finance, Finance behemoths BlackRock, JPMorgan Chase, Citi Locations: Washington , DC, Wells Fargo

☆ Stocks, Bonds Suffer Weekly Losses as Investors Brace for Further Rate Increases
▼ + stars: | 2023-07-07 | by ( Gunjan Banerji | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: dow

☆ US layoffs fall to seven-month low in June, report says
▼ + stars: | 2023-07-06 | by ( Safiyah Riddle | ) www.reuters.com time to read: +2 min

REUTERS/Shannon Stapleton(Reuters) - American employers slowed downsizing in June, announcing the lowest number of layoffs since October 2022. The planned pace of layoffs in June was well above the 32,517 cuts announced in June 2022. There are 458,209 cuts so far this year, a 244% increase from the 133,211 layoffs announced through June 2022, as employers brace for the prospect of recession. Last month’s announced job cuts total was the highest for a month of June since 2020. The technology sector continues to downsize the fastest with 141,516 total job cuts announced this year, up 2,353% from 5,769 over the same period in 2022.

Persons: Shannon Stapleton, ” Andrew Challenger, month’s Organizations: REUTERS, Reuters, Federal Reserve, Fed, Challenger, Department of Labor Locations: New York City, U.S

☆ China's chipmaking export curbs 'just a start', Beijing adviser warns before Yellen visit
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +6 min

Shares in some Chinese metals companies rallied for a second session as investors bet that higher prices for gallium and germanium, which Beijing's export restrictions target, could boost revenues. China is the world's biggest producer of rare earths, a group of metals used in EVs and military equipment. Asked about the metals export curbs, Chinese foreign ministry spokesman Wang Wenbin said on Wednesday the government's actions were reasonable and lawful. WARNING SHOTSome larger chip manufacturers view China's export controls on gallium as more of a warning shot about what economic pain the country could inflict. China's germanium ingot was priced at 9,150 yuan per kg on Tuesday, also flat on the day and on the week, Refinitiv data showed.

Persons: Janet Yellen, Wei Jianguo, Wei, Yellen, Biden, China's, Wang Wenbin, Wang, Gecamines, Belgium's Umicore, Xi Jinping, Eikon, Brenda Goh, Amy Lv, Tian, Nick Carey, Muralikumar Anantharaman, Jacqueline Wong, Catherine Evans Organizations: Treasury, Thursday Analysts, Washington, Commerce, China Daily, China Center for International Economic, Independence, Analysts, Micron, Global Times, Union, Benchmark Mineral Intelligence, AMS, Democratic, Shanghai Cooperation Organisation, Shanghai Metal Exchange, Beijing, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, U.S, Japan, Netherlands, United States, Swiss, Teck Resources, North, Democratic Republic of Congo, Russia, Washington, Yunnan, London

☆ Morning Bid: Fed hawks, China tensions keep markets under pressure
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Kevin BucklandU.S. policymakers are stealing the spotlight in the markets today, after the Fed cemented its hawkish credentials overnight and Janet Yellen started a trip to China just as Beijing restricts chip-making metal exports. APAC investors clearly took notice, sending stocks sliding and bond yields higher in a signal that Europe should brace for the same. The key takeaway from minutes of the Fed's June meeting overnight is that the unanimous decision to hold wasn't so unanimous after all, with the hawks just biding their time. Traders see a July hike as pretty much assured, but it's still a coin toss whether there will be another after that. Britain will report construction PMIs for June later in the day, as will Germany, which also has factory order figures for May on the release schedule.

Persons: Kevin Buckland, Janet Yellen, wasn't, it's, It's, Mark Zuckerberg, Elon Musk, Zuckerberg, Yellen, Edmund Klamann Organizations: Fed, Traders, Friday's U.S, U.S, Treasury, Reuters Graphics, Thomson Locations: China, Beijing, Europe, United States, Japan, Netherlands, Britain, Germany, UK, PMIs

☆ Dow falls more than 300 points as investors brace for more Fed tightening after huge ADP report
▼ + stars: | 2023-07-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Stocks fell on Thursday as investors braced for tighter monetary policy from the Fed. Traders anticipate more rate hikes after ADP jobs data came in hot. The 10-year Treasury yield jumped above 4%, and the 2-year yield hit the highest level since 2007. That could spell trouble for stocks, as Fed officials have cited an overly hot jobs market as a reason why interest rates could stay elevated. The 10-year Treasury yield jumped above 4%, and the 2-year yield hit 5.120%, the highest since 2007, as markets braced for a higher-for-longer interest rate regime.

Persons: Stocks, — Organizations: Fed, Traders, Treasury, Service, Federal Reserve, Labor, Dow Jones, Nasdaq Locations: Here's

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