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☆ 3-Stock Lunch: AMZN, WBA & LLY
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: AMZN, WBA & LLYBoris Schlossberg, BK Asset Management managing director of FX Strategy, joins 'Power Lunch' to discuss stock plays for three stocks including; Amazon.com, Walgreens and Eli Lilly.

Persons: Boris Schlossberg, Eli Lilly Organizations: BK Asset Management, FX, Walgreens

☆ Here are Tuesday's biggest analyst calls: Amazon, Tesla, Goldman Sachs, Meta, Salesforce, Boeing, Spotify & more
▼ + stars: | 2024-01-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan initiates Light & Wonder as outperform JPMorgan initiated the Australian gambling company with an overweight and said it has earnings momentum. Evercore ISI reiterates Meta as outperform Evercore said it's bullish on Meta heading into earnings later this week. " Evercore ISI reiterates Amazon as outperform Evercore said it's bullish heading into Amazon earnings later this week. We are upgrading Bank of America (BAC) to OW from EW, upgrading Citigroup (C) to OW from UW, upgrading Goldman Sachs (GS) to OW from EW, and upgrading BNY Mellon (BK) to EW from UW. Bank of America reiterates Uber as buy Bank of America raised its price target on the stock to $73 per share from $68.

Persons: Oppenheimer, Raymond James, CrowdStrike, Mizuho, Evercore, it's, Morgan Stanley, Instacart, Morgan, Goldman Sachs, Raymond James downgrades, McDonald's, Wells, Baird, Tesla, TSLA, BTIG, Jefferies, Masimo, MASI, Uber Organizations: Accenture, Mizuho, JPMorgan, Morgan Stanley, Bank of America, Citi, Citigroup, BNY Mellon, BK, UW, Trust, AMD, Salesforce Inc, UBS, Spotify, sss, Western Alliance, WAL, Boeing, Olema Oncology, Breast Cancer, " Bank of America, Netflix, Seaport Locations: OW, UW, Wells Fargo

☆ Bullish on Yen on a 12-month view given Japan's economic trend: Strategist
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBullish on Yen on a 12-month view given Japan's economic trend: StrategistKathy Lien of BK Asset Management expects 'significant' unwinds in Yen carry trade in 2024 as the Bank of Japan is expected to tighten monetary policy while other major central banks are likely to cut rates.

Persons: Kathy Lien, Yen Organizations: BK Asset Management, Bank of Locations: Yen, Bank of Japan

☆ Restaurant Brands Aims for Better-Looking Burger Kings in Carrols Deal
▼ + stars: | 2024-01-16 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Burger King is trying to claw its way ahead in the competitive U.S. burger market through investments in remodels, advertising and new products. Photo: Justin Sullivan/Getty ImagesYour local Burger King might look a bit fresher, faster, following a $1 billion deal announced by BK parent Restaurant Brands International. The fast-food holding company is buying its biggest U.S. Burger King franchisee, Carrols Restaurant Group , partly to try to speed up remodels of older domestic restaurants, it said. RBI said Tuesday that it will pump $500 million into remodeling roughly 600 of Carrols’s BK locations, aiming to wrap up the remodels by 2028, faster than the franchisee would’ve done on its own.

Persons: Burger King, Justin Sullivan, Burger Organizations: BK, Brands, Burger King, Carrols, Group, Carrols’s BK

☆ 3-Stock Lunch: ULTA, PARA & BTC
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: ULTA, PARA & BTCBoris Schlossberg, BK Asset Management, joins ‘Power Lunch’ to discuss three stocks: Ulta Beauty, Paramount and Bitcoin.

Persons: BTC Boris Schlossberg Organizations: BTC, BK Asset Management, Paramount

☆ BNY Mellon to raise minimum wage, add mental health benefits
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

A BNY Mellon sign is seen on their headquarters in New York's financial district, January 19, 2011. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Dec 1 (Reuters) - BNY Mellon (BK.N) will increase its minimum wage next year to $22.50 an hour from $20 and expand mental health benefits for employees, the bank said in a statement on Friday. Bank of America (BAC.N) raised its minimum hourly wage to $23 in October, heading toward a goal of $25 by 2025. BNY Mellon will also expand its mental health benefits to cover 12 therapy sessions a year, expanding from five currently. "We want our employees to feel valued and know that they are being compensated competitively," said Sharyn Jones, BNY Mellon's global head of talent.

Persons: Brendan McDermid, BNY Mellon, Sharyn Jones, Lananh Nguyen, Sharon Singleton Organizations: REUTERS, BNY, Bank of America, Thomson Locations: New, U.S

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Eli Lilly, Salesforce, Snowflake, Snap, Pinterest and more
▼ + stars: | 2023-11-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.

Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China

☆ ICBC partners wary to resume trading with bank after cyberattack - Bloomberg News
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

The logo of Industrial and Commercial Bank of China (ICBC) is seen at its branch at its headquarters in Beijing, China, March 30, 2016. The attack impeded trading in the $26 billion Treasury market and has left users of the bank's U.S. arm skittish about trading with the bank, the report said, citing people familiar with the matter. ICBC (601398.SS) did not immediately respond to Reuters' request for a comment. ICBC's U.S. arm was hit by a ransomware attack earlier this month. Reporting by Pritam Biswas in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, BNY Mellon, Pritam Biswas, Shilpi Majumdar Organizations: Industrial, Commercial Bank of China, REUTERS, Bloomberg, Reuters, Thomson Locations: Beijing, China, U.S, Bengaluru

☆ Emma Hayes: Chelsea ‘robbed’ of Champions League win against Real Madrid, says Blues manager
▼ + stars: | 2023-11-16 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Chelsea manager Emma Hayes says her team was “robbed” of a win after controversial refereeing decisions overshadowed her side’s entertaining 2-2 draw against Real Madrid in the Women’s Champions League group stage on Wednesday. Firstly, a questionable penalty was awarded to Madrid in the 78th minute and then a last-minute winner was ruled out for offside. “I think we’ve been robbed of what should have been a 3-1 game,” Hayes said after the match. With Chelsea dominating proceedings, referee Frida Klarlund awarded Real Madrid the penalty after Blues defender Jessie Fleming brought down Athenea del Castillo. Real Madrid manager Alberto Toril said he was pleased with the performance and result against Chelsea.

Persons: Emma Hayes, “, ”, ” Hayes, OIga Carmona’s, Millie Bright, Niamh Charles, Sam Kerr, Misa Rodríguez –, Frida Klarlund, Jessie Fleming, Athenea del, Isabel Infantes, Carmona, Hayes, Jessie, Fleming, shouldn’t, ’ Chelsea, Lauren James, Charles, Kerr, Niamh, Sam, Alberto Toril Organizations: CNN, Chelsea, Real Madrid, Women’s Champions League, Reuters, Real, Super League, Madrid’s, Blues, Athenea, Getty, US, National, ” Chelsea, UEFA, Madrid, BK Häcken, Paris FC Locations: Madrid, Spanish, Real Madrid, Athenea del Castillo, she’s, European

[1/2] The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017. The SEC central clearing rule, first proposed in September last year, would apply to the cash Treasury and repurchase agreements (repo) markets, where banks and other players such as hedge funds borrow short-term loans backed by Treasuries. "This creates a potential single-point of failure risk as recent events illustrate," he said, referring to the ICBC hack. Abate also flagged cybersecurity risks for direct members of the FICC, as well as clients they sponsor to access the clearing platform, saying mandatory central clearing could make FICC "a fortress with many doors." The SEC is expected to finalize the rule early next year, said Barclays, but it is unclear how much time the industry would have to implement it and whether central clearing will occur simultaneously for Treasuries and repo transactions.

Persons: Toby Melville, Joseph Abate, ICBC, BNY Mellon, Abate, DTCC, Treasuries, Davide Barbuscia, Marguerita Choy Organizations: Barclays, REUTERS, U.S . Securities, Exchange Commission, Commercial Bank of China's, SEC, Treasuries, Corporation, Depository Trust, Clearing Corporation, U.S . Treasury, Reuters, Thomson Locations: City, London, Commercial Bank of China's U.S, U.S

ICBC Financial Services could not be reached for comment. It said it had cleared Treasury trades executed on Wednesday and repo financing trades done on Thursday. While market participants and officials have said the impact of the ICBC hack on Treasury market functioning was limited, the full extent of it is not yet understood. The hack is likely to become a key topic of conversation at a major Treasury market conference on Nov. 16. ICBC told market participants Friday that they were also hoping to have a secondary email system set up soon.

Persons: Kim Kyung, BNY Mellon, ICBC, Moxfive, Darrell Duffie, Duffie, BNY, SIFMA, Paritosh, Edward Tobin Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of China's, Treasury, ICBC Financial Services, Reuters, ICBC, Securities, Exchange, Stanford, ICBC Financial, Treasuries, Thomson Locations: Beijing, China, Commercial Bank of China's U.S, New York, Wall

The logo of Industrial and Commercial Bank of China (ICBC) is pictured at the entrance to its branch in Beijing, China April 1, 2019. ICBC, whose U.S. arm was hit by a ransomware attack that disrupted trades in the U.S. Treasury market on Nov. 9, did not immediately respond to a request for comment. "They paid a ransom, deal closed," the Lockbit representative told Reuters via Tox, an online messaging app. "The market is mostly back to normal now," said Zhiwei Ren, a portfolio manager at Penn Mutual Asset Management. The ransomware attack came at a time of heightened worries about the resiliency of the $26 trillion Treasury market, essential to the plumbing of global finance, and is likely to draw scrutiny from regulators.

Persons: Florence, BNY Mellon, Zhiwei Ren, Ransom, Allen, James Pearson, Davide Barbuscia, Carolina Mandl, Tatiana Bautzer, Pete Schroeder, Michelle Price, David Goodman, Jonathan Oatis, Alexander Smith Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of, Reuters, U.S . Treasury, Penn Mutual Asset Management, Treasury, U.S . Treasury Department, Financial, Authorities, Boeing, Overy, Washington DC, Thomson Locations: Beijing, China, Commercial Bank of China, U.S, Tox, United States, London, Carolina, New York, Washington

☆ In the Market: Inside Wall Street's scramble after ICBC hack
▼ + stars: | 2023-11-13 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +7 min

It said it had cleared Treasury trades executed on Wednesday and repo financing trades done on Thursday. While market participants and officials have said the impact of the ICBC hack on Treasury market functioning was limited, the full extent of it is not yet understood. Nevertheless, market participants said the attack is likely to add a new aspect to the regulatory review, as it brings cyber threats into sharper focus. The hack is likely to become a key topic of conversation at a major Treasury market conference on Nov. 16. ICBC told market participants Friday that they were also hoping to have a secondary email system set up soon.

ICBC's U.S. unit told market participants on Friday it was hoping to finish the cyber review over the weekend, but the sources said they expected it would spill into next week. The cyberattack sent ripples through the U.S. Treasuries market, where ICBC acts as a broker for hedge funds and other market participants, helping them trade in the securities. The Chinese parent then injected capital into the U.S. unit, allowing it to settle the trades and pay back BNY Mellon, the sources said. They also told market participants about the capital injection but did not disclose the amount or the reason for it, the sources said. SIFMA, the trade group, organized calls for market participants with updates, the sources said.

Persons: Tingshu Wang, BNY Mellon, ransomware, ICBC, SIFMA, Janet Yellen, Lifeng, Scott Skyrm, Jack McIntyre, Harry Robertson, James Pearson, Naomi Rovinick, Yoruk, Davide Barbuscia, Chris Prentice, Mike Derby, Carolina Mandl, Laura Matthews, Paritosh, Zeba, Megan Davies, Dhara Ranasinghe, Alexander Smith, Richard Chang, Anna Driver Organizations: Asset Management, Fair for Trade, Services, REUTERS, Commercial Bank of China, U.S ., ICBC Financial Services, Securities Industry, Financial Markets Association, ICBC, Treasury, China, U.S, New York Federal Reserve, Securities, Depository Trust, Clearing Corp, Thomson Locations: Beijing, China, ICBC's U.S, U.S, San Francisco, Treasuries, Hong Kong, Shanghai, London, Amsterdam, Carolina, New York

☆ Three-Stock Lunch: Caterpillar, JetBlue and Gold Comex
▼ + stars: | 2023-10-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Caterpillar, JetBlue and Gold ComexBoris Schlossberg, BK Asset Management, joins ‘Power Lunch’ to discuss three stocks: Caterpillar, JetBlue and Gold Comex.

Persons: Boris Schlossberg Organizations: Caterpillar, JetBlue, BK Asset Management, Gold

☆ In the Market: Treasury market braces for seismic SEC rule
▼ + stars: | 2023-10-30 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +6 min

SIFMA, which has lobbied the SEC, expects the final rule next month, ahead of a Treasury market conference on Nov. 16. The SEC rule would be the most significant regulation so far to come out of that review. There is broad consensus on the need for Treasury market reform, including the benefits of central clearing -- even among the industry sources interviewed for this article. "It is going to improve financing and reduce the risks for turmoil in the U.S. Treasury market," said Yiming Ma, an associate professor at Columbia Business School. The SEC rule would force the banks to move that to central clearing.

Persons: Andrew Kelly, JPMorgan Chase, ”, Rob Toomey, SIFMA's, Gary Gensler, Banks, Ma, SIFMA, Toomey, Paritosh Bansal, Anna Driver Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Treasury, SEC, JPMorgan, Bank of New York Mellon, Federal Reserve, U.S . Treasury, Columbia Business School, Depository Trust, Clearing Corp, Thomson Locations: Washington ,, U.S

Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas, Venezuela January 28, 2019. U.S. sanctions that were in place on Venezuela since 2019 largely blocked state-run oil company PDVSA from exporting to its chosen markets. That changed last week, but Washington's six-month relaxation of the measures is too limited to spur new crude production. PDVSA also is in talks with Mercuria Energy and Sahara Energy on spot sales, the sources said. The Italian company and Spain's Repsol (REP.MC) have been in negotiations with PDVSA for months to expand gas output in Venezuela.

Persons: Carlos Garcia Rawlins, Trafigura, PDVSA, Pedro Tellechea, Tipco, Spain's, Eni, Maurel, prepay, Marianna Parraga, Laura Sanicola Organizations: REUTERS, Rights, Global, PDVSA, Bermuda, Mercuria Energy, Sahara Energy, U.S ., Reliance Industries, Valero Energy, PBF Energy, Eni, Valero, Reliance, U.S . Treasury Department, Traders, Thomson Locations: Caracas, Venezuela, U.S, Venezuela's, Sahara, PDVSA's, Houston, Washington

[1/2] Thailand's Prime Minister Srettha Thavisin arrives at Beijing Capital International Airport to attend the Third Belt and Road Forum in Beijing, China, October 16, 2023. "And if you look at the month-by-month statistics, Chinese investments are still increasing," he told Reuters. "So I see that in the next two or three years, Chinese investments will still increase drastically in Thailand." But a large proportion of the 228 Chinese investments proposals this year have come in the electronics sector, according to the BOI. Chinese investments will likely continue for the next two years, Jareeporn said.

Persons: Srettha Thavisin, Tingshu Wang, General Narit Therdsteerasukdi, Srettha, Xiaomi Corp's, Alain Lam, Narit, Jareeporn Jarukornsakul, Jareeporn, Chayut, Shri Navaratnam Organizations: Thailand's, Beijing Capital International Airport, Forum, REUTERS, Rights, of Investment, Investment, Reuters, Thai, Initiative, HK, Toyota, Isuzu Motors, WHA, Thomson Locations: Beijing, China, Rights BANGKOK, Thailand, Singapore, Southeast Asia's, Thailand's, Thai

☆ BNY Mellon beats profit estimates on boost from higher interest rates
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

The Bank of New York Mellon Corp. building at 1 Wall St. is seen in New York's financial district March 11, 2015. Last week, JPMorgan (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) beat analysts' estimates for the latest quarter and raised FY23 interest income forecasts. BNY Mellon's net interest revenue for the reported quarter jumped nearly 10% to $1.02 billion, compared with $926 million a year earlier. While higher interest rates have benefited banks, they have also deepened fears of more loan defaults, prompting lenders to maintain reserves on the sidelines. New York-based BNY Mellon kept aside $3 million in provision for credit losses for the quarter.

Persons: Brendan McDermid, Banks, BNY Mellon, Jaiveer Singh, Shinjini Organizations: of New York Mellon Corp, REUTERS, Bank of New York Mellon Corp, U.S . Federal Reserve, JPMorgan, Citigroup, Thomson Locations: Wells Fargo, New York, Bengaluru

☆ General Motors shares hit 3-year intraday low amid recall report. How to play the stock
▼ + stars: | 2023-10-05 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the latest reactions on General Motors from investors and analysts. Jim Lebenthal of Cerity Partners and Boris Schlossberg of BK Asset Management gave their takes on GM's stock dipping below $30 during intraday trading for the first time in more than three years. The action came after The Wall Street Journal reported that GM is potentially facing a government recall of at least 20 million vehicles due to a faulty airbag part. The decline in share price occurs as GM is grappling with ongoing strikes by the United Auto Workers union. General Motors stock closed Thursday at $30.31 a share, down by 2.4%.

Persons: Jim Lebenthal, Boris Schlossberg Organizations: General Motors, Cerity Partners, BK Asset Management, Street Journal, GM, United Auto Workers

☆ General Motors hits 3-year intraday low amid recall report. How to play the stock
▼ + stars: | 2023-10-05 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGeneral Motors hits 3-year intraday low amid recall report. How to play the stockJim Lebenthal of Cerity Partners and Boris Schlossberg of BK Asset Management discussed General Motors as shares hit a three-year low amid a new Wall Street Journal report outlining a potential airbag recall on thousands of GM cars.

Persons: Jim Lebenthal, Boris Schlossberg Organizations: General Motors, Cerity Partners, BK Asset Management, Motors

☆ WSL set for most competitive season after influx of new talent
▼ + stars: | 2023-09-27 | by ( Christian Radnedge | ) www.reuters.com time to read: +5 min

The WSL had almost 100 players representing their nations at the recent World Cup, the most of any league in the world. Former Germany forward Pauline Bremer was the first of 10 new signings for Brighton & Hove Albion, who scraped survival last season. Former Arsenal midfielder Jill Roord returns to the WSL but this time at Manchester City as the only signing for Gareth Taylor's side. The Lionesses' triumph at Euro 2022 resulted in a 170% increase in attendances last season, the FA said. They are hoping for another bounce this year after England reached the World Cup final in Australia and New Zealand, as the WSL targets becoming the first billion-pound women's league in the world.

Persons: Chelsea's Magdalena Eriksson, John Sibley, Emma Hayes's, Carla Ward, Adriana Leon, Daphne van Domselaar, Ward, Pauline Bremer, Willie Kirk, Rose, Lize, we've, Hannah Cain, Robert Vilahamn, Captain Beth England, Martha Thomas, Jonas Eidevall's, Alessia Russo, Jill Roord, Gareth Taylor's, They've, Taylor, Russo, Mary Earps, Marc Skinner's, King Power, Christian, Toby Davis Organizations: Soccer, League, Reading, Chelsea, Madejski, Super League, Tottenham Hotspur, Aston Villa, WSL, Manchester United, Everton, Liverpool, West Ham United, Champions League, Brighton & Hove Albion, Leicester City, Tottenham, Sweden's BK Hacken, Spurs, Arsenal, England, Paris FC, Former Arsenal, Manchester City, Emirates, Bristol City, Ashton, Thomson Locations: Reading, Britain, Netherlands, Germany, Leicester, Sweden's, American, Scotland, ., Australia, New Zealand

☆ Burger King and Wendy's are trying to start the chicken wrap wars. But their messy meals made us yearn for the return of McDonald's iconic snack wraps.
▼ + stars: | 2023-09-13 | by ( Nancy Luna | ) www.businessinsider.com time to read: +1 min

Wendy's and Burger King launched this year copycats of the iconic McDonald's chicken wraps. Wendy's was the best, but it fell apart as did the Burger King wraps. Seven years later, the burger chain's arch rivals, Burger King and Wendy's, are filling the chicken wrap gap with their own versions. Burger King debuted three snack-wrap-style chicken wraps in August, while Wendy's debuted a grilled chicken ranch wrap in March. AdvertisementAdvertisementI set out to see if these wraps would fill the void left by the McDonald's snack wrap.

Persons: Burger King, Wendy's, Burger Organizations: Service, Burger King, BK Locations: Wall, Silicon

Reviving Thailand's economy will be one of the biggest tasks for political newcomer Srettha, who became prime minister last month following prolonged uncertainty after a May election. On the day of the vote, Pheu Thai figurehead Thaksin Shinawatra returned to Thailand in a dramatic homecoming after living abroad for 15 years in self-exile to avoid an 8-year prison sentence. Srettha's rapid ascent to power, Thaksin's smooth return and a coalition between Pheu Thai and former rivals fuelled speculation about an agreement between Thaksin and his foes among the country's powerful conservative and royalist army. Thaksin and the Pheu Thai party say that is not the case. The Pheu Thai will control key economic ministries, which will be crucial in implementing its policies, including a 10,000 baht ($285.63)handout in the form of digital currency.

Persons: Pheu, Thailand's, Athit, Srettha Thavisin, Srettha, King Maha Vajiralongkorn, Thaksin Shinawatra, Thaksin, Bhumjaithai, Chayut Setboonsarng, Miral Fahmy, Gerry Doyle Organizations: REUTERS, Rights, Pheu, Conservative, Thomson Locations: Bangkok, Thailand, Rights BANGKOK

REUTERS/Athit Perawongmetha/File Photo Acquire Licensing RightsBANGKOK, Sept 2 (Reuters) - Thailand’s King Maha Vajiralongkorn endorsed a new cabinet, including real estate tycoon Srettha Thavisin as the country’s new prime minister and finance minister, according to a Royal gazette published on Saturday, months after the May elections. Srettha's Pheu Thai party, backed by the billionaire Shinawatra family, will oversee defence, transport, commerce, health and the foreign ministry portfolios. The second-place Pheu Thai broke off an alliance with Move Forward and brought on rival parties aligned with army generals that ousted Shinawatra-linked parties in 2006 and 2014 coups. Thaksin and the Pheu Thai party say that is not the case. The new cabinet has Pheu Thai controlling ministries overseeing the economy ministries, which will be crucial in implementing its policies, including a 10,000 baht ($285.63)handout in the form of digital currency.

Persons: Pheu, Thailand's, Athit, Maha Vajiralongkorn, Srettha Thavisin, Srettha's, Thaksin Shinawatra, Thaksin, Bhumjaithai, Srettha, Chayut Setboonsarng, Miral Fahmy, Gerry Doyle Organizations: REUTERS, Rights, Pheu, Conservative, Thomson Locations: Bangkok, Thailand, Rights BANGKOK

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