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☆ NBA roundup: Jimmy Butler lifts Heat past Hornets in OT
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

[1/5] Nov 10, 2022; Miami, Florida, USA; Miami Heat forward Jimmy Butler (22) reacts after making a shot against the Charlotte Hornets during the second half at FTX Arena. Mandatory Credit: Jasen Vinlove-USA TODAY SportsNovember 11 - Jimmy Butler posted 35 points, 10 rebounds and eight assists to lead the host Miami Heat to a 117-112 overtime win over the Charlotte Hornets on Thursday night. Butler also made 13 of 15 free throws, including going 1-for-1 in an overtime period that saw the Heat go 9-for-9 from the line. The Hornets, who have lost seven straight games, were led by Kelly Oubre's season-high 29 points on 11-for-20 shooting, including 7-for-13 on 3-pointers. Luka Doncic recorded 22 points, nine rebounds and six assists for the Mavericks, who have lost two in a row.

☆ Stock market rally will be put to test in week ahead, after yields fall and tech surges
▼ + stars: | 2022-11-11 | by ( Patti Domm | In | ) www.cnbc.com time to read: +10 min

This week, bond yields also came off their highs and were sharply lower, paving the way for gains in tech and growth shares. They include Fed Vice Chair Lael Brainard, New York Fed President John Williams and Minneapolis Fed President Neel Kashkari to name a few. Hogan said that group includes Bullard, Brainard and San Francisco Fed President Mary Daly. Many strategists are calling the move higher a bear market rally, and some expect it will fizzle in December while others say it could continue into the new year. Friday Earnings: JD.com, Foot Locker, Buckle 8:40 a.m. Boston Fed President Susan Collins 10:00 a.m.

☆ ECB will likely need to raise rates to level that curbs growth-Schnabel
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

LJUBLJANA, Nov 10 (Reuters) - The European Central Bank will probably need to raise interest rates to a level that weakens growth to curb high inflation that is at a growing risk of taking hold in the euro zone, ECB board member Isabel Schnabel said on Thursday. With euro zone inflation running in double digits, the ECB has been raising rates at a record pace even as the euro zone economy heads for recession. read moreBut Schnabel, the leader among ECB hawks who favour higher borrowing costs, said the central bank should press ahead, likely reaching "restrictive territory", or a level of rates that curbs economic growth. "We will need to raise rates further, probably into restrictive territory." "This is currently unlikely, not least due to the robust labour market, large excess savings and the massive fiscal support."

☆ NBA roundup: Bucks, minus Giannis, top Thunder in 2 OTs
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +9 min

Tre Mann added 21 points off the bench. Jaylen Brown scored 30 points, reserve Sam Hauser had 24 on six 3-pointers and Al Horford added 13 for Boston. Anunoby added 27 points, 10 rebounds and three steals for the Raptors, who played without forward Pascal Siakam (groin). Bennedict Mathruin scored 30 points, Tyrese Haliburton had 21 points and 11 assists for the Pacers, who had won four of their previous five games. All five Hornets starters reached double figures in points, led by Terry Rozier with 18 in the team's sixth consecutive loss.

The pullout proposed by General Sergei Surovikin, appointed last month to take overall charge of Russia's war effort, means Moscow is giving up a strategic city just north of annexed Crimea, the only Ukrainian provincial capital it had captured since its Feb. 24 invasion. The decision - described by one Russian military blogger as "a black page in the history of the Russian army" - was nonetheless quickly defended by some of the most high-profile proponents of the war as a wise and necessary action. But he said that ceding Kherson to Ukraine would put Russian-annexed Crimea within range of Ukrainian guided missile systems and U.S.-supplied HIMARS rockets. As Shoigu and Surovikin announced the retreat on Wednesday, Putin was congratulating employees of a leading scientific institute on its 75th anniversary. And after that, to understand who is right, who to blame and what is the essence of the problem".

☆ The Fed may need to hike interest rates above 6% to crush stubborn inflation, ex-Treasury chief Larry Summers says
▼ + stars: | 2022-11-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The Fed may have to hike interest rates above 6% to curb stubborn inflation, Larry Summers said. He suggested the economy might be more resilient to rate increases than expected, which could heap pressure on the Fed to hike further. The Fed last targeted an interest rate that high in 2001. The veteran economist also cautioned in September that if the Fed doesn't crush inflation now, it might have to raise rates even higher down the line. Read more: Why the Fed will likely cause an unnecessary recession even though rampant inflation is fading away, according to the chief global strategist for JPMorgan's investing arm

☆ Morning Bid: Midterms vigil and new crypto wobble
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. Tuesday's U.S. mid-term elections held world markets in thrall and investors now assume policy gridlock will emerge as the winner. With a critical U.S. inflation reading due on Thursday, there was some attention on San Francisco Fed research showing credit across the economy is tighter than the Fed's policy rate suggests and financial conditions by September were more reflective of a 5.25% policy rate than the current 3.75%-4%. FTX token , the native token of crypto exchange FTX, plunged 20% amid a range of reports and speculation that dragged the whole crypto complex lower and saw drop 5%. FTX has come under pressure after the head of rival exchange Binance said on Sunday his firm would liquidate its holdings of the FTX token due to unspecified "recent revelations".

☆ NBA roundup: Dejounte Murray, Hawks hand Bucks first loss
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +11 min

Murray added eight rebounds and three steals for the Hawks, who lost 123-115 at Milwaukee on Oct. 29. Jerami Grant finished with 23 points and Lillard had 19 points and six assists. Cade Cunningham supplied 21 points, 11 rebounds and seven assists for the Pistons. Jaden Ivey had 15 points, 11 rebounds and six assists, and Isaiah Stewart added 11 points with 12 rebounds. Mike Muscala and Kenrich Williams scored 11 points apiece.

☆ NBA roundup: Celtics set team record with 27 treys
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +7 min

Every Celtics player who took the court Saturday hit at least one 3-pointer, and they went 27-for-51 on treys. The 27 3-pointers were two more than the previous team record, set against the Philadelphia 76ers on Feb. 15, and two shy of the NBA record, set by the Milwaukee Bucks against the Miami Heat on Dec. 29, 2020. Brown finished with 30 points and Tatum had 26 as the Celtics won both ends of a back-to-back set. Julius Randle scored 29 points and RJ Barrett had 27 for the Knicks, who were also trying to win on back-to-back nights. Terry Rozier scored 25 points and Kelly Oubre Jr. added 18 for the Hornets.

☆ Movement to ban TikTok: What midterms could mean for future of app
▼ + stars: | 2022-11-05 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +8 min

The effort to ban TikTok is back, and it could gain more strength after the midterm elections. Alex Brandon / AP fileExperts said there’s a steep hill to climb for those who want a total TikTok ban, but the midterms could provide a push. The renewed push for a TikTok ban or forced sale is taking place while the company is in negotiations with the Biden administration on a potential written security agreement. TikTok says it believes the agreement would address not only privacy concerns but how the app moderates content. Rubio is co-sponsoring legislation to ban TikTok from all U.S. government devices.

☆ We cannot put China on a par with Russia, top EU diplomat says
▼ + stars: | 2022-11-04 | by ( Sabine Siebold | ) www.reuters.com time to read: +2 min

MUENSTER, Germany, Nov 4 (Reuters) - Western countries need to reduce their dependence on China but should not put it in the same category as Russia, the European Union's top diplomat said on the second day of a meeting of the Group of Seven foreign ministers in Germany. China hawks have said the trip risks appearing as a stamp of approval for Xi and a sign Germany will continue to prioritize its economic relations with Beijing over security and strategic considerations. "It is clear that China is .. becoming much more assertive, much more on a self-reliant course," EU foreign policy chief Josep Borrell told reporters. "But for the time being, many member states have a strong economic relationship with China and I don't think we can put China and Russia on the same level." "Africa is suffering a lot from the war in Ukraine because Russia is blocking food, destroying agricultural transport infrastructures," said Borrell.

China became Germany's single biggest trade partner in 2016. A recent survey by the Ifo think-tank found that nearly half of German industrial firms now rely on significant inputs from China. But Scholz's trip comes at a time of growing concern in the West - particularly in Germany's top security ally, the United States - about China's trade practices, human rights record and territorial ambitions. FDP General Secretary Bijan Djir-Sarai called the decision "naive" and criticized the timing of Scholz's trip to China as "deeply unfortunate". But the German chancellor declined Macron's offer, the sources said.

☆ Europe’s diverging prices complicate ECB’s task
▼ + stars: | 2022-11-01 | by ( Pierre Briancon | ) www.reuters.com time to read: +4 min

LONDON, Nov 1 (Reuters Breakingviews) - The euro zone monetary policy debate may soon become more tense. The region’s inflation rate, at 10.7% in October, masks wide disparities among member states. The recent dispersion in euro zone inflation rates began with the recession triggered by Covid-19. Retail energy prices in the euro area increased by 40% between August 2021 and August 2022. Monetary policy may become less predictable.

☆ NBA roundup: Clippers end skid, win on late Paul George shot
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +6 min

George had 35 points, nine rebounds, eight assists and six steals for the Clippers, who scored the game's final seven points to break a four-game losing streak. Ivica Zubac recorded 16 points, 12 rebounds and four blocked shots while Marcus Morris Sr. added 11 points for Los Angeles. The star forward also contributed nine rebounds and seven assists. Cade Cunningham's 27 points, seven assists and six rebounds led the Pistons, who were playing the tail end of a back-to-back. Scottie Barnes added 21 points, seven rebounds and eight assists and Gary Trent Jr. scored 21 points for the Raptors, who were playing without Fred VanVleet (back).

☆ Dollar up as data suggests Fed hawks will stay in control; yen fragile
▼ + stars: | 2022-10-31 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The greenback moved broadly higher in Asia trade, particularly against the Japanese yen , rising more than 0.5% and pushing above the 148 yen level. Data on Friday showed that U.S. consumer spending rose more than expected in September, while underlying inflation pressures continued to bubble. The Fed is expected to deliver another 75 basis point (bp) rate hike after the conclusion of this week's policy-setting meeting on Wednesday. Ahead of another central bank decision this week, the Australian dollar rose 0.09% to $0.6417. Along with a further 75 bp of rate hikes in the first half of 2023, we now have the RBA cash rate peaking at 3.85%."

☆ Asia stocks creep higher on hopes Fed will tone down hikes
▼ + stars: | 2022-10-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

But China stocks fell following weak economic data, and the MSCI index is set for a tenth consecutive monthly loss. The performance follows a Friday rally on Wall Street but comes with bond and currency markets tempering some wagers on a change in tone from the Fed. S&P 500 futures fell 0.2%. Corn futures rose 2%. Rates and Fed funds futures traders have now tempered initial optimism and see the funds rate hitting near 5% by May next year.

☆ Yuta Watanabe comically dunks into his own net as Brooklyn Nets’ woes continue
▼ + stars: | 2022-10-30 | by ( Aimee Lewis | ) edition.cnn.com time to read: +2 min

CNN —The Brooklyn Nets have made a terrible start to the NBA season and on Saturday star forward Yuta Watanabe didn’t make matters any easier by comically scoring in the opposite team’s basket. At the Barclays Centre, the Nets went down 125-116 to the Indiana Pacers to go 1-5 for the season. It was the Nets’ fourth straight loss and one coach Steve Nash called a “disaster.”The night started ominously when, in the first quarter, Watanabe accidentally scored for the Pacers. The comical two-pointer cut the Nets’ lead before the Pacers tied at the end of the first quarter. As the Pacers pulled away from the struggling Nets, rookie Bennedict Mathurin scored a career-high 32 points in a team record 23 three-pointers.

☆ NBA roundup: Thunder rally in 4th to stun Mavs in OT
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +6 min

Luguentz Dort added 16 points, and Darius Bazley scored 15 off the bench to help Oklahoma City. Zach LaVine scored 15 of his 29 points after halftime, while Nikola Vucevic had a double-double of 23 points and a game-high 19 rebounds. Jazz 124, Grizzlies 123Lauri Markkanen and Kelly Olynyk each scored 23 points and played clutch in the fourth quarter to help Utah rally past Memphis in Salt Lake City. Dillon Brooks also had a big scoring night, finishing with 30 points, while Tyus Jones contributed 23 points and 10 assists. Brooks hit a 3-pointer with 15 seconds left as Memphis pulled within one, 124-123.

☆ The Fed may have to blow up the economy to get inflation under control
▼ + stars: | 2022-10-30 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

Jobs report also on tapThe Fed meeting takes place just two days before the nation will get its next report card on the labor market. Another jobs report, from payroll processor ADP, is also due out next week, and this one looks just at Corporate America. The government said in the September jobs report that average hourly earnings rose 5% in the past 12 months. The Fed typically prefers to see wage growth in the 2% to 3% annual range as a sign that inflation is under control. Discovery, Starbucks (SBUX), PayPal (PYPL), Amgen (AMGN) and Block (SQ)Friday: US jobs report; earnings from Cardinal Health (CAH), Duke Energy (DUK) and Hershey (HSY)

☆ Liz Cheney endorses Democratic Rep. Elissa Slotkin over GOP hopeful Tom Barrett in Michigan as part of her crusade to derail 2020 election deniers
▼ + stars: | 2022-10-27 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Republican Rep. Liz Cheney has endorsed Democratic Rep. Elissa Slotkin for reelection. Cheney has crossed party lines because Slotkin challenger Tom Barrett is a 2020 election denier. A Jan. 6 committee leader, Cheney has resolved "to make sure those people don't get elected." Slotkin, a two-term lawmaker, is facing off against Barrett, a Michigan state senator, this November. Barrett brushed off the endorsement as grandstanding by "establishment war hawks" with a "senseless thirst for more foreign entanglements."

☆ Recession obsession: Warnings grow but nobody knows for sure
▼ + stars: | 2022-10-27 | by ( Christine Romans | ) edition.cnn.com time to read: +6 min

The welcome GDP report comes amid almost daily recession warnings from bank CEOs, business economists, think tanks and former Treasury secretaries. But as the dread grows, today’s news is a reminder that no one knows for sure whether the US economy will tip into a recession. Moreover, most of those same prognosticators agree that even if we do have a recession, it would be mild. Thirdly, we won’t know if we are, or were, in a recession until it is over:A recession may be coming. But even the staunchest recession hawks think a recession — if it happens — would be mild.

☆ NBA roundup: Blazers fall to Heat, lose Damian Lillard to injury
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +6 min

The star forward shot 16 of 25, grabbed 14 rebounds, added five assists and also hit 10 of 14 free throws. Bruce Brown scored 18 points, Jamal Murray scored 13 points and Jeff Green scored 10 for the Nuggets. Kentavious Caldwell-Pope also had 13 points before spraining his left ankle on a drive late in the third quarter. John Collins supplied 19 points and 11 rebounds for the Hawks while De'Andre Hunter tossed in 17 points before fouling out. Washington, Kelly Oubre Jr. and reserve Jalen McDaniels all added 17 for the Hornets.

☆ NBA roundup: Zion Williamson injured in Pelicans' OT loss to Jazz
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +5 min

CJ McCollum had 28 points and 12 assists to lead the Pelicans, who overcame a 17-point fourth-quarter deficit to force the extra period despite losing Brandon Ingram and Zion Williamson to injury. James had 31 points, eight rebounds and eight assists, Anthony Davis had 22 points and 10 rebounds and Lonnie Walker IV scored 15 points for the Lakers. Rudy Gobert added 15 points and 15 rebounds for Minnesota, while Karl-Anthony Towns also scored 15. Jeremiah Robinson-Earl added 15 points. Curry had six 3-pointers to account for a majority of his 28 points in the first two periods, contributing to the 89 first-half points, which were the fifth-most in NBA history.

Centering on Julia Roberts and George Clooney, two great, aging stars of rom-coms past, “Ticket to Paradise” was always going to be a throwback. Clooney and Roberts play David and Georgia Cotton, a long-divorced couple. The divorced couple who reconcile is an old rom-com trope. Even young gorgeous individuals in a tropical paradise aren’t as effortlessly, gracefully charming as George Clooney and Julia Roberts batting putdowns back and forth. That’s ultimately also the biggest similarity between the two generations of rom-com love.

☆ NBA roundup: Ja Morant guides Grizzlies over Rockets
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +7 min

Alperen Sengun produced a double-double of 23 points and 12 rebounds off the bench. Nuggets 128, Warriors 123Nikola Jokic scored 26 points as part of a triple-double and Denver held on for a win over Golden State in San Francisco. After Simons' basket, Ayton was fouled with 1.2 seconds left but missed the first free throw. Gordon Hayward posted 26 points and Terry Rozier poured in 23 points for the Hornets. Haliburton led the Pacers with 27 points and 12 assists, with Mathurin adding 26 points.

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