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☆ Germany's Scholz says his country willing to invest in Nigerian gas, minerals
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Johanna Geron Acquire Licensing RightsABUJA, Oct 29 (Reuters) - German Chancellor Olaf Scholz said on Sunday his country was willing to invest in gas and critical minerals in Nigeria, Africa's largest oil producer, as he started a two-nation visit to sub-Saharan Africa. "There is a willingness to invest, especially in critical minerals," Scholz told reporters at a joint briefing with Nigerian President Bola Tinubu in the capital Abuja. "If we are successful, if there is a better chance of exporting the produced gas ... it is then the question for German companies to do their private business," said Scholz. Tinubu said he had "a very deep discussion" on the issue of gas and encouraged German businesses to invest in pipelines in Nigeria. Without giving details, Scholz said there was also a willingness from German companies to build railways in Nigeria.

Persons: Olaf Scholz, Johanna Geron, Scholz, Bola Tinubu, Tinubu, Felix Onuah, Andreas Rinke, MacDonald Dzirutwe Organizations: European Union, REUTERS, Rights, West African, ECOWAS, Thomson Locations: Brussels, Belgium, Rights ABUJA, Nigeria, Saharan Africa, Berlin, Abuja, Niger, Gabon

REUTERS/Phil Noble/File Photo Acquire Licensing RightsFRANKFURT/MUNICH, Oct 26 (Reuters) - German technology groups have warned they are being hit by delays in getting China-bound exports through customs, following the introduction of a German government strategy to reduce economic dependence on demand from China. German chip-making kit supplier Suess MicroTec (SMHNn.DE) late on Wednesday cut its sales forecasts for the second time in three months, blaming tightened controls for exports to China. German customs and the Federal Office for Economic Affairs and Export Control (BAFA) did not immediately respond to a request for comment. Lobby group Asia-Pacific Committee of German Business (APA) told Reuters the BAFA office was appearing to scrutinise export requests more closely or escalate requests to the economy ministry more often. Still, the German chamber of commerce said the political environment was hobbling exports to China.

Persons: Phil Noble, Suess, Friedolin Strack, Burkhardt Frick, Martin Wansleben, Alexander Huebner, Rene Wagner, Christian Kraemer, Thomas Escritt, Anneli, Ludwig Burger, David Holmes Organizations: REUTERS, Federal Office, Economic Affairs, Export Control, Pacific Committee, German Business, Reuters, Thomson Locations: Hamburg, Germany, FRANKFURT, MUNICH, China, Asia, Munich, Berlin, Duesseldorf, Frankfurt

☆ Morning Bid: China spends, eyes on whether Europe lends
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O) each beat forecasts, but their share prices went in opposite directions as investors zeroed in on cloud computing. On the luxury front Kering (PRTP.PA), owner of Gucci and Balenciaga, reported a bigger-than-expected drop in third-quarter sales. Gucci's revamped look, unveiled last month in Milan by designer Sabato De Sarno, is yet to hit stores. European loans data and a survey of German business conditions will be closely watched later on Wednesday.

Persons: Thomas White, Tom Westbrook, Gucci, Balenciaga, LVMH, Birkin, Gucci's, Sabato De Sarno, Michele Bullock, Sam Holmes Organizations: REUTERS, Giants, Microsoft, Google, Nasdaq, Facebook, . Santander, Deutsche Bank, Dassault, Dassault Systemes, CME Group, Hilton, Boeing, IBM, Meta, Thomson Locations: China, Asia, Milan, Japan

☆ German business activity slump suggests recession 'well underway' -PMI
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 45.8 in October from September's 46.4, below the 46.7 forecast by economists. A reading below the 50 level points to a contraction in business activity. The composite PMI index tracks the services and manufacturing sectors that together account for more than two-thirds of the German economy, Europe's biggest. Business activity in the services sector was unexpectedly back in contraction territory after slight growth the month before, with the reading falling to 48.0 from 50.3 in September. Well there are, especially in the manufacturing sector," said de la Rubia, pointing to improvements in new orders and output, as well as an increase in stocks of purchases.

Persons: Wolfgang Rattay, Cyrus de la Rubia, la, Miranda Murray, Hugh Lawson Organizations: REUTERS, Rights, P Global, Hamburg Commercial Bank, PMI, Reuters, Thomson Locations: ThyssenKrupp, Duisburg, Germany, September's, Hamburg

☆ Siemens is case study in China de-risking dilemma
▼ + stars: | 2023-10-04 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +9 min

That’s unsettling for the likes of Siemens, $62 billion carmaker Volkswagen (VOWG_p.DE) and $39 billion chemicals group BASF (BASFn.DE). Factor in the German group’s 32% stake in Siemens Energy (ENR1n.DE) and 75% holding in Siemens Healthineers (SHLG.DE), currently worth 46 billion euros, and it adds up to 156 billion euros. The unit and Siemens’ Airport Logistics unit, which press reports say could be another divestment candidate, may only be worth 4 billion euros combined. Moreover, Kaeser already tried to boost Siemens’ valuation by partially spinning off subsidiaries. As of September, Siemens had bought back 2.5 billion euros of shares since starting a 3 billion euro share repurchase programme in November 2021.

Persons: Roland Busch, France’s Legrand, Busch, Joe Kaeser, he’s, Kaeser, Germany’s Bundesbank, Siemens, Goldman Sachs, Judith Wiese, George Hay, Oliver Taslic Organizations: Reuters, Siemens, Germany’s, Barclays, Reuters Graphics Reuters, Volkswagen, BASF, Software, Dassault, Automation, ABB, Smart Infrastructure, Siemens Energy, Siemens ’ Mobility, France’s Alstom, CRRC Corporation, Siemens ’ Airport Logistics, Siemens Healthineers, Toshiba Corp, Energy, BNP, Bloomberg, Financial Times, Thomson Locations: China, Brussels, Beijing, Germany, EMEA, Swiss, Middle Kingdom, Republic, Shenzhen, Sichuan, Chengdu, Southeast Asia, Indonesia, Vietnam, Thailand

☆ Yen falls to fresh 11-month low against dollar, focus on intervention risks
▼ + stars: | 2023-09-25 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 25 (Reuters) - The dollar rose against the yen to an almost 11-month high on Monday following last week's gains, keeping traders focused on Japan intervention risks. The Japanese currency remained within striking distance of 150, a level which some market watchers saw as a line in the sand that would spur forex intervention from Japanese authorities similar to that of last year. A yen overshooting would be seen by many as a catalyst for renewed interventions to strengthen the Japanese currency, similarly to last year, she added. EURO FACES GROWTH FEARSThe euro edged 0.1% lower to $1.0633, moving towards a six-month low of $1.0615 touched on Friday against a stronger dollar.

Persons: Florence Lo, Kazuo Ueda, Esther Reichelt, Nick Rees, we've, Reichelt, Francois Villeroy de Galhau, Sterling, Joice Alves, Alun John, Ed Osmond, Bernadette Baum Organizations: U.S, REUTERS, Commerzbank, Federal Reserve, FX, Monex, SBB, European Central Bank, Bank, Thomson Locations: Japan, Swedish, Monex Europe, London

☆ German business sentiment worsens in September - Ifo
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Sept 25 (Reuters) - German business morale deteriorated in September, falling for the fifth month in a row, a survey showed on Monday. The Ifo institute said its business climate index stood at 85.7 versus a forecast of 85.2, according to analysts polled by Reuters. "The German economy is treading water," Ifo president Clemens Fuest said. Companies were less satisfied than in the previous month with their current business situation. Reporting by Friederike Heine and Maria Martinez, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Clemens Fuest, Friederike Heine, Maria Martinez, Miranda Murray Organizations: Reuters, Companies, Thomson

☆ Getir emerged as a tentative winner in Europe's pandemic-fueled rapid-delivery sector. But it still faces sizable threats.
▼ + stars: | 2023-09-18 | by ( Riddhi Kanetkar | Callum Burroughs | ) www.businessinsider.com time to read: +8 min

In March 2022, Nazım Salur invited thousands of Getir employees to a Zoom meeting to celebrate its newfound "decacorn" status. However, as soaring inflation and rising interest rates began to hobble the tech sector, investors became far less forgiving of businesses that had oriented themselves more toward growth than sustainability. In December 2021, The Guardian reported that Getir had offered customers a deal where they could get £15 off if they spent £16. About 21 rapid-delivery startups were operating across Europe in 2021, with Getir joined by the German outfits Gorillas and Flink, as well as the British startup Zapp. Getir tentatively emerged as the winner in the rapid-delivery sector when it bought its main competitor, Gorillas , in a heavily discounted deal for $1.2 billion in December.

Persons: Nazım Salur, Nazım, Getir, Blok, London's, Alexi Rosenfeld, they've, Adam Neumann, Michael Moritz Organizations: Tiger Global, Mubadala, Financial Times, Getir, TechCrunch, Guardian, DST Global, Gorillas, Abu Dhabi Growth Fund, Google, PayPal Locations: Spanish, Berlin, Turkey, Turkish, Germany, Netherlands, Istanbul, Turkey's, Europe, British, Abu Dhabi

☆ SAP buys software management company LeanIX
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: 1 min

A logo on the SAP exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsSTOCKHOLM, Sept 7 (Reuters) - German business software maker SAP (SAPG.DE) on Thursday said it has bought software management company LeanIX from investors to boost its business transformation portfolio. LeanIX investors include Insight Partners, Deutsche Telekom Capital Partners, Capnamic Ventures, Iris Capital, Goldman Sachs and Dawn CapitalThe transaction is expected to close in the fourth quarter. Terms of the deal were not disclosed. Reporting by Supantha Mukherjee in Stockholm, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Iris Capital, Goldman Sachs, Supantha Mukherjee, Terje Solsvik Organizations: Viva Technology, Porte de, REUTERS, Rights, SAP, Insight Partners, Deutsche Telekom Capital Partners, Capnamic Ventures, Iris, Dawn, Thomson Locations: Porte, Paris, France, Rights STOCKHOLM, Stockholm

But speaking on Wednesday, the last day before the ECB's self-imposed quiet period, the Dutch, French, German and Slovak central bank chiefs all said the Governing Council's decision was still open. France's Francois Villeroy de Galhau hinted that a fresh rate hike could still come at a later date and argued that the slowdown is not a recession and that the ECB needed to persevere in its fight with inflation. Slovakia's Peter Kazimir, an outspoken policy hawk, was more explicit, arguing that another hike was still needed to tame inflation. He said the ECB could delay a rate rise to one of its autumn meetings or pull the trigger next week. "It would be wrong to bet on a rapid decrease in interest rates after the peak," Nagel told German business daily Handelsblatt.

Persons: Nagel, France's Francois Villeroy de Galhau, Peter Kazimir, Kazimir, Klaas Knot, Bundesbank, Joachim Nagel, " Nagel, Robert Holzmann, Mario Centeno, Akanksha Khushi, Catherine Evans Organizations: Central Bank, ECB, Bloomberg, Reuters Global Markets, Thomson Locations: FRANKFURT, PARIS, Slovak

☆ Germany forges pact for Leopard 2 successor in snub to Paris, Handelsblatt reports
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +3 min

BERLIN, Sept 6 (Reuters) - Germany has signed agreements with Italy, Spain and Sweden on the development of a successor to the Leopard 2 tank, German business daily Handelsblatt reported on Wednesday. The German defence ministry did not immediately respond to a request for comment. The delays to the proposed Franco-German project have strained ties already tested by differences over energy topics and the question to what extent Europe should become independent from the U.S. in its security policy. The defence ministry in Paris and the office of President Emmanuel Macron did not immediately respond to requests for comment. It cited French government sources as saying the topic would be raised at Franco-German government consultations scheduled for the start of October.

Persons: French Leclerc, Maffei, Handelsblatt, Sweden's, Italy's Leonardo, Emmanuel Macron, Friederike Heine, Sabine Siebold, Michel Rose, Andrew Cawthorne, Alison Williams Organizations: Krauss, Rheinmetall, European Defence Fund, Sweden's Saab, Franco, Thomson Locations: Germany, Italy, Spain, Sweden, France, Berlin, Franco, French, Spanish, Europe, U.S, Africa, Russia, Paris

☆ Germany Forges Pact for Leopard 2 Successor in Snub to Paris - Handelsblatt
▼ + stars: | 2023-09-06 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

BERLIN (Reuters) - Germany has signed agreements with Italy, Spain and Sweden on the development of a successor to the Leopard 2 tank, German business daily Handelsblatt reported on Wednesday. The initiative is to take place under the leadership of Krauss-Maffei Wegmann (KMW) and Rheinmetall, the German arms makers building the Leopard 2, Handelsblatt reported, citing unnamed industry and political sources. The German defence ministry did not immediately respond to a request for comment. The defence ministry in Paris and the office of President Emmanuel Macron did not immediately respond to requests for comment. It cited French government sources as saying the topic would be raised at Franco-German government consultations scheduled for the start of October.

Persons: French Leclerc, Maffei, Handelsblatt, Sweden's, Italy's Leonardo, Emmanuel Macron, Friederike Heine, Sabine Siebold, Michel Rose, Andrew Cawthorne, Alison Williams Organizations: BERLIN, Krauss, Rheinmetall, European Defence Fund, Sweden's Saab, Franco Locations: Germany, Italy, Spain, Sweden, France, Berlin, Franco, French, Spanish, Europe, U.S, Africa, Russia, Paris

☆ Christie’s cancels auction of jewelry linked to Nazi-era fortune
▼ + stars: | 2023-09-05 | by ( Christy Choi | ) edition.cnn.com time to read: +3 min

CNN —The sale of over 400 pieces of jewelry once owned by late art collector Heidi Horten broke records at a series of auctions earlier this year. But amid ongoing criticism from Jewish advocacy groups and human rights organizations over the source of the Austrian billionaire’s wealth, Christie’s auction house announced Thursday that it has canceled the final part of the controversial sale. (Christie’s had initially predicted that Horten’s entire collection, featuring over 700 jewels, would sell for over $150 million.) Prior to May’s sales, the American Jewish Committee had called for the auction to be put on hold until “a serious effort” was made to investigate the Hortens’ wealth. The Heidi Horten Collection did not respond to CNN’s request for comment.

Persons: Heidi Horten, Helmut, ” Christie’s, ”, ” Anthea Peers, Christie’s, Van, Helmut Horten, Forbes Organizations: CNN, American Jewish Committee, Twitter, Washington D.C, ” Locations: Austrian, Nazi Germany, German, Europe, East, Africa, Geneva, Switzerland, Nazi, Washington, Vienna, Austria

☆ Factbox: Scrutiny of iris-scanning crypto project Worldcoin grows
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

Worldcoin has drawn criticism from privacy campaigners over its data collection. It has said the biometric data is either deleted or stored in encrypted form, and that it is "committed" to working with regulators. CNIL had previously said it was aware of the Worldcoin project and that the legality of its biometric data collection "seems questionable". GERMANYA German data watchdog has been investigating Worldcoin since late last year due to concerns over its large-scale processing of sensitive biometric data, it said. PORTUGALPortugal's data regulator, the CNPD, has inspected Worldcoin's local data collection operation and been in contact with the Bavarian data protection authority in Germany, a spokesperson said.

Persons: Annegret, Sam Altman, Altman, Worldcoin, CNIL, Elizabeth Howcroft, Tom Wilson, John Stonestreet Organizations: REUTERS, Agencia, Informacion Publica, Commissioner's, Communications Authority of, Data, Thomson Locations: cryptocurrency, Berlin, Germany, ARGENTINA, Argentina, Informacion, BRITAIN, FRANCE, Worldcoin's, GERMANY, Handelsblatt, KENYA, Kenya, Communications Authority of Kenya, PORTUGAL

☆ Dollar steady as Fed's Powell says higher rates may be needed
▼ + stars: | 2023-08-25 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/2] U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The U.S. dollar index - which measures the currency against six major counterparts - was about flat at $104.06 after rising to 104.44, its highest since June 1. Interest rate futures tied to the Fed's policy rate on Friday priced in a more than even chance of tightening at either the November or December policy meetings. On Friday, the euro was 0.01% lower against the dollar at $1.08085. Against the yen , the dollar was up 0.31% to 146.28.

Persons: Dado Ruvic, Jerome Powell, Powell, Karl Schamotta, Ben, Bernanke, Mario, Draghi, Schamotta, bitcoin, Saqib Iqbal Ahmed, Dhara Ranasinghe, Ankur Banerjee, Kirsten Donovan, Christina Fincher, Nick Zieminski, Jonathan Oatis Organizations: REUTERS, U.S, Federal, European Central Bank, Global Research, Reuters, of, Thomson Locations: Jackson Hole , Wyoming, U.S, Toronto, Britain, London, Singapore

The Ifo institute said on Friday that its business climate index stood at 85.7, down from 87.4 in July. Reuters Graphics"The German economy is not out of the woods yet," Ifo president Clemens Fuest said. The economy then posted zero growth in the second quarter compared to the previous three months, separate data from the statistics office showed on Friday. The Ifo survey showed sentiment among German managers had become more pessimistic across all sectors in August. The Ifo survey chimed with flash PMI data released on Wednesday, which showed that German business activity contracted at the fastest pace for more than three years in August.

Persons: Annegret, Clemens Fuest, Christian Lindner, Klaus Wohlrabe, Claus Niegsch, Niegsch, Andrew Kenningham, Carsten Brzeski, Maria Martinez, Friederike Heine, Mark Potter, John Stonestreet Organizations: REUTERS, Reuters, . Finance, DZ Bank, Reuters Graphics, Capital Economics, Thomson Locations: Berlin, Germany, BERLIN, Europe

☆ Euro knocked by ECB rate pause talk, dollar cautious before Powell
▼ + stars: | 2023-08-25 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +3 min

[1/2] Euro currency bills are pictured at the Croatian National Bank in Zagreb, Croatia, May 21, 2019. The euro hit its lowest since mid-June at around $1.0766 before drifting higher. The dollar index , which measures the U.S. currency against six others, rose to 104.31, the highest since June 6, but edged lower during London trade. Powell speaks at the Jackson Hole Economic Policy Symposium at 1405 GMT, while ECB chief Christine Lagarde speaks at the same gathering later in the day. Sterling touched its lowest level since June at around $1.2560 before recovering to around $1.2610 to trade just a touch softer on the day.

Persons: Antonio Bronic, Fed's Powell, Jerome Powell, Powell, Christine Lagarde, Jeremy Stretch, Sterling, Marc Chandler, Dhara Ranasinghe, Ankur Banerjee, Kirsten Donovan, Christina Fincher Organizations: Croatian National Bank, REUTERS, Central Bank, Federal, Reuters, Jackson, ECB, CIBC, Bannockburn Global Forex, Thomson Locations: Zagreb, Croatia, London, Britain, U.S, Bannockburn, Singapore

☆ German business sentiment is 'going down and down,' Ifo says
▼ + stars: | 2023-08-25 | 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 EmailGerman business sentiment is 'going down and down,' Ifo saysKlaus Wohlrabe, head of surveys at Ifo, says there's "a lot of bad news" when it comes to incoming orders in the manufacturing and services sectors.

Persons: Ifo, Klaus Wohlrabe

☆ Why some are calling the German economy 'the sick man of Europe'
▼ + stars: | 2023-08-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —It’s been nearly two decades since Germany shrugged off its “sick man of Europe” label with a series of labor market reforms that ushered in years of economic outperformance. Sticky inflation and three straight quarters of falling or stagnating output have put Europe’s biggest economy in the doldrums. “Sticky” inflation is eroding Germans’ purchasing power, fueling “pessimism among households,” according to Thomas Obst, senior economist at the Cologne Institute for Economic Research. “[German] industrial order books have emptied over the last 12 months,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN. “Germany is in a very singular position.”Bright spotsHolger Schmieding, the economist who first called Germany the “sick man of Europe” in 1998, thinks the “current wave of pessimism” over its economy is overdone.

Persons: London CNN — It’s, Stefan Kooths, Europe ”, Kooths, Thomas Obst, Obst, ”, Klaus Wohlrabe, Frank Soellner, ” Carsten Brzeski, Sam Reeves, Brzeski, David Hecker, Holger Schmieding, Schmieding, “ Organizations: London CNN, International Monetary Fund, Kiehl Institute, Cologne Institute, Economic Research, CNN, European Central Bank, ifo, Volkswagen, Siemens, Global, ING, Getty, China Locations: Germany, Europe, Berlin, ifo, Bad, China, Duisburg, AFP, Ukraine, Australia, France

☆ German business activity suffers steepest decline since May 2020
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kai Pfaffenbach Acquire Licensing RightsBERLIN, Aug 23 (Reuters) - German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on Wednesday. A deepening downturn in manufacturing output was accompanied by a renewed contraction in services activity. Business activity in the services sector contracted for the first time in eight months. The manufacturing PMI rose to 39.1 in August from 38.8 in July but remained deeply in contraction territory, the survey showed. There was an increase in inflationary pressures, driven by accelerated cost and price increases in the service sector.

Persons: Kai Pfaffenbach, Cyrus de la Rubia, Rubia, Maria Martinez, Hugh Lawson Organizations: REUTERS, Rights, P Global, Hamburg Commercial Bank, Services, Thomson Locations: Frankfurt, Germany, Hamburg

☆ Money markets cut Sep ECB rate hike bets after German PMI
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: 1 min

LONDON, Aug 23 (Reuters) - Traders on Wednesday scaled back bets for a September interest rate hike in the euro area following much weaker-than-expected business activity data from Germany, Europe's biggest economy. Money market futures now price just a 40% chance of a quarter point rate hike from the European Central Bank next month, compared with roughly a 60% chance priced in ahead of the data . German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on Wednesday. Reporting by Stefano Rebaudo; editing by Dhara RanasingheOur Standards: The Thomson Reuters Trust Principles.

Persons: Stefano Rebaudo, Dhara Organizations: Traders, European Central Bank, Thomson Locations: Germany, Europe's

☆ Europe stocks climb as investors await Nvidia results; German business activity plunges
▼ + stars: | 2023-08-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — European stock markets were higher Wednesday, with attention focused on earnings and central bank comments in the U.S. The Stoxx 600 index was up by 0.45% at 8:45 a.m. BST, with most sectors nudging higher. Autos stocks were down by 0.46% after the release of grim PMI figures for Germany, which showed a deepening downturn in manufacturing output and plunge in business activity. European marketsGlobally, investors will be poring over California-based chip designer Nvidia 's results to see how it performs against high Wall Street expectations after a stellar first quarter. The rise in long-dated U.S. Treasury yields, with the yield on the benchmark 10-year note hitting its highest level since 2007, eased Tuesday.

Persons: Nvidia, Jerome Powell, Jackson, Thomas Barkin, Barkin Organizations: U.S, Activision, Treasury, Richmond Fed Locations: Germany, California, U.S

☆ German regulator probes Worldcoin crypto currency - Handelsblatt
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: 1 min

Stickers handed out to people who signed up for WorldCoin are seen at a sign-up site in Shoreditch, East London, Britain July 24, 2023. REUTERS/Elizabeth Howcroft/File PhotoBERLIN, Aug 8 (Reuters) - Germany's financial regulator Bafin is investigating the digital currency Worldcoin, German business daily Handelsblatt reported on Tuesday. "If a company turns to the German market without the necessary permission, for example with a website or app in German, we investigate it," a spokesperson was cited as saying. Worldcoin did not immediately respond to a request for comment. Writing by Friederike Heine, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Howcroft, Worldcoin, Friederike Heine, Rachel More Organizations: REUTERS, Thomson Locations: Shoreditch, East London, Britain

☆ Morning Bid: Big Tech litmus test as Fed gather
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

The wider blue-chip CSI 300 Index (.CSI300) snapped a six-day losing streak to pop 3% and buying from state banks propped the yuan. Both oil and Treasury yields gave back some of those gains again today, however, with year-on-year crude price declines still tracking more than 21%. There was little ostensible reaction to the formal rebalancing of the Nasdaq 100 (.NDX) index that pared weightings of several of the big caps to reduce "over-concentration". The approach of Wednesday's Fed decision may limit market moves until then. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, sagged, Dow Jones bluechips, Alphabet's, Clark, Chubb, Paccar, Sherwin, Williams, Archer, Ed Osmond Organizations: Big Tech, Microsoft, Federal Reserve, European Central Bank, ebbing, Nasdaq, Google, Texas, NextEra Energy, Visa, GE, GM, Dow, Verizon, Universal Health, Daniels, Richmond Fed, Philadelphia Fed, Federal, Market, Monetary Fund, Treasury, Reuters, Thomson Locations: U.S, Hong, Europe, China, Danaher, Corning, Kimberly, Biogen, Dover, Nucor, Midland

The euro slipped 0.25% against the dollar, government bond yields across the bloc edged lower while European stock markets dipped, with Spain's benchmark index down 0.65% in a clear underperformance. Meanwhile, U.S. stock futures , rose 0.2% and 0.3%, respectively, pointing to a positive open for Wall Street. With the Federal Reserve, European Central Bank and Bank of Japan meeting this week, a note of caution underpinned the mood across global markets. The benchmarks continued their fourth straight of week of gains last week, as supply is expected to tighten following OPEC+ cuts. HOST OF EARNINGSOn top of central bank meetings and economic data, investors also braced for a slew of earnings from both sides of the Atlantic.

Persons: Kai Pfaffenbach, Bruno Schneller, Schneller, Eddie Cheng, Allspring's Cheng, SPAIN UNDERPERFORMS, Fiona Cincotta, Nell Mackenzie, Dhara, Wayne Cole, Amanda Cooper, Peter Graff Organizations: REUTERS, Nasdaq, Fed, ECB London, Wall, Federal Reserve, European Central Bank and Bank of Japan, ECB, INVICO Asset Management, Bank of Japan, Japan's Nikkei, Allspring Global Investments, Brent, . West Texas, Intel, Microsoft, GE, Boeing, Exxon Mobil, Coca Cola, Ford, GM, U.S, Thomson Locations: Frankfurt, Germany, Spain, U.S, Spain's, Asia, Pacific, Japan, Ukraine, Russia, China, SPAIN, SPAIN UNDERPERFORMS Spain, Sunday's, Basque, Catalan, Coca, London, SYDNEY

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