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☆ Gold rangebound as investors brace for key U.S. economic data
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year. Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year. Investors are watching out for the ISM services data and the initial jobless claims, due later in the day, along with the U.S. non-farm payroll data expected on Friday. Gold tends to thrive in a low interest rate environment and political turmoil. Elsewhere, Perth Mint's gold product sales touched a 10-month high in September, while silver sales hit a seven-month high.

Persons: Brian Lan, —, CME's, Lan Organizations: GoldSilver Central, Investors, U.S . Locations: Singapore, Israel, Beirut, Iran, Perth

☆ This strategy can offer double-digit yields — at a cost
▼ + stars: | 2024-07-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

With tantalizing yields that can reach 10% or more, covered-call exchange-traded funds have become a popular investment. The result is income for investors, based on the option's premium, in return for capped upside if the option is exercised. The derivative income Morningstar category, dominated by covered-call ETFs, saw inflows of $24.3 billion over the past year, as of June. The largest actively-managed, covered-call ETF is the JPMorgan Equity Premium Income ETF , which has a 6.88% 30-day yield and an adjusted expense ratio of 0.35%. Investors should also be aware of the strategy being used by the fund managers, which will affect the upside potential and call premium.

Persons: Morningstar, Lan Anh Tran, Tran, JEPI, Rohan Reddy, Reddy, QYLD, XYLD, Rick Wedell, It's, Wedell, X's Reddy, erferring, Morningstar's Tran Organizations: Nasdaq, JPMorgan

☆ How a Seattle couple achieved financial independence in their mid-30s after paying their way through school — and why they don't want to retire early
▼ + stars: | 2024-07-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Mai-lan Phan and her husband, Ryan Wagoner, both 36, reached financial independence, but neither wants to fully retire early. Many Americans are working to achieve financial independence — or having enough savings or income to live comfortably for life. Advertisement"I want to be able to walk away from any job if it's not working," Wagoner said. Nerve damage in her right hand prevented her from returning to work full-time. She said their finances were solid enough from not "keeping up with the Joneses" that she could work less while her husband continued to work full-time.

Persons: Phan, Ryan Wagoner, Wagoner, it's, —, I'm, we're, they've, she's, They've, — Phan, We've, we've Organizations: Service, Seahawks, Business, FIRE, Subway, Michigan State University, Microsoft Locations: Phan, Seattle, Michigan, Mexico, Paris, Thailand, Europe, Asia

☆ Hong Kong wants residents to smile more but experts warn prices and competition are bigger issues for tourism
▼ + stars: | 2024-06-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

Guests posing for a group photo at the "Let's Go the Extra Mile" hospitality campaign launch ceremony at the Central Government Office in Hong Kong on June 3, 2024. In response, the Hong Kong government launched a campaign – titled "Let's Go the Extra Mile" – encouraging frontline staff and members of the public to demonstrate good hospitality and "reinforce Hong Kong's brand as the best tourism destination." Hong Kong's currency is pegged to the U.S. dollar, which has helped the city's status as an international financial center. "Both have become equal problems for Hong Kong," he said. While the city's borders were closed during the pandemic, nearby Shenzhen continued to develop into a top-tier Chinese city, Lee said.

Persons: Long, John Lee, Hong Kongers, Allan Zeman, Lan, Kwai, Zeman, mainlanders, Simon Lee Siu, Lee Organizations: Central Government Office, Nurphoto, Getty, Hong, Lan Kwai Fong Group, U.S ., U.S, Sports, Tourism Bureau, HK, Pacific Institute of Business, Chinese University of Hong, Shenzhen Locations: Hong Kong, Shenzhen, Hong, Japan, Asia, Chinese University of Hong Kong

☆ These ETFs promise investors downside protection — at a cost
▼ + stars: | 2024-05-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Investors looking for protection against market downside are turning toward buffer exchange-traded funds, also known as defined-outcome ETFs. Buffer ETFs have exploded in popularity in recent years, although they are still a small slice over the overall industry. How buffer ETFs work Managers use a set of equity options when building a fund. Recently, Calamos announced a new product line of 12 ETFs that offers 100% downside protection. The first in the line, Calamos S & P 500 Structured Alt Protection ETF (CPSM) , began trading May 1.

Persons: Lan Anh Tran, Morningstar, Tran, Todd Sohn, Strategas, Sohn, Calamos, Russell, Matt Kaufman, Kaufman, Morningstar's Tran, HELO 1Y, It's Organizations: Morningstar, Strategas Securities, Capital Management, Equity, PGIM, Allianz, BlackRock, Treasury, Trust, JPMorgan Hedged Equity, JPMorgan Locations: BlackRock

☆ Your latte could get even more expensive, thanks to a drought in Vietnam that's strangling coffee bean production
▼ + stars: | 2024-04-26 | by ( Meghan Morris | ) www.businessinsider.com time to read: +2 min

Robusta coffee futures hit a 16-year high because of a prolonged drought in Vietnam. The robusta coffee variety is the basis for both espresso and instant coffee. A long, El Niño-induced drought in Vietnam pushed up the price of robusta futures on Wednesday to the highest in at least 16 years, Bloomberg reported. This year's drought in Vietnam could continue the low-supply cycle, hurting next year's production. Vietnam is increasingly importing cheaper robusta from Brazil to satisfy soaring local demand from coffee drinkers, Bloomberg reported in March.

Persons: —, El Niño, Tran, Lan Anh Organizations: Service, Bloomberg, US Department of Agriculture, Co, International Coffee Organization Locations: Vietnam, Brazil, Asia, Europe, mocha

☆ A City Tries to Measure the Violence It’s Preventing
▼ + stars: | 2024-04-22 | by ( Mark Obbie | ) www.nytimes.com time to read: +31 min

Headway A City Tries to Measure the Violence It’s Preventing In Baton Rouge, a public safety experiment could help to answer a critical question: Do community efforts to reduce street violence work? Like Ms. Robinson, Ms. Tate-Alexander, 48, raised her family in Baton Rouge. Baton Rouge became the first city outside New Jersey to be tutored in the Newark method. Calming the urge to retaliateBy June 2021, when Ms. Tate-Alexander started assembling the street team, Ms. Robinson joined up. At first, Ms. Robinson and Ms. Tate-Alexander seemed wary when I asked about him.

Persons: Angel Hawkins, Liz Robinson, Sateria Tate, Alexander, Tamikka, Liz, Louis Robinson’s, Louis Jr, Robinson, “, ‘, ’ ”, Louis, Louis BadAzz, —, Louis Robinson Jr, ’, Murphy Paul, Paul, Sharon Weston Broome, Alton Sterling, ”, Karan Deep Singh, Kathleen Flynn, Biden, Nina Revoyr, Ms, Tate, Aqeela Sherrills, Sherrills, Terrell, Mr, Aqeela, Courtney Scott, . Tate, ” Ms, Gerald Haynes, Haynes, hotheads, Khoury Brown, Geaux, he’s, Geaux Yella, Darius Crockett, Crockett, Kayla Atkins, Markel, Atkins, ” Mr, “ I’m, “ I’ll, ” Markel, Atkins’s, Gary Slutkin, Jeffrey A, Butts, John Jay, Dr, Scott, “ We’re, It’s, They’ll, that’s, interventionists, Stacy Adams fedora, George Floyd, Weeks, brutalized, Paul’s, Thomas S, Morse, Dy’Lan Fillmore, Mitchell, Fillmore, Robinson’s Organizations: The New York Times, Army, Louisiana State Police, Police, Baton Rouge Police Department, Centers for Disease Control, National Institute for Criminal, Ballmer Group, Baton, Bloods, Biden White House, Markel, Research, John, John Jay College of Criminal, Statistics, University of California, Newark, Metropolitan, Murphy Paul Rally, Mr Locations: Baton Rouge, La, Iraq, Afghanistan, Black, United States, —, Federal, Newark, N.J, Watts, Los Angeles, New Jersey, Chicago, Baton

☆ Carbon Dioxide Levels Have Passed a New Milestone
▼ + stars: | 2024-04-20 | by ( Aatish Bhatia | ) www.nytimes.com time to read: +6 min

Global carbon dioxide levels as of … Play animation Source: National Oceanic and Atmospheric Administration’s Global Monitoring Laboratory The chart shows monthly numbers of carbon dioxide molecules per million molecules of dry air. Carbon Dioxide Levels Have Passed a New MilestoneCarbon dioxide acts like Earth’s thermostat: The more of it in the air, the more the planet warms. More carbon dioxide, warmer temperatures Source: NOAA (carbon dioxide); NASA (temperature) The chart shows the change in global surface temperature relative to 1951–1980, versus global carbon dioxide levels. Currently, carbon dioxide levels are rising at near-record rates. Annual change in carbon dioxide levels Source: NOAA’s Global Monitoring Laboratory The chart shows the increase in global carbon dioxide levels over the course of each year.

Persons: Glen Peters, Doug McNeall, Xin Lan, ”, El Niño, El, Mr, McNeall, “ Organizations: NOAA, NASA, National Oceanic, Global, Budget, CICERO Center, International Climate Research, Britain’s Met

☆ Vietnam mounts ‘unprecedented’ $24 billion rescue for bank engulfed in giant fraud, documents show
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: +5 min

Foreign reserves were around $100 billion at the end of the year, according to the central bank. The central bank did not reply to requests for comment about the rescue effort. The finance ministry referred a question to the central bank. The central bank placed SCB under its supervision to stem a run on the bank sparked by the October 2022 arrest of real estate tycoon Truong My Lan. That was up from 478 trillion dong at the end of October, according to the SCB document that was sent to the central bank.

Persons: Truong My, Truong, Lan Organizations: AFP, Getty, Stock Commercial Bank, Reuters, ASEAN, Research, SCB, State Bank of, Bank Locations: Ho Chi Minh City, Vietnam, Saigon, State Bank of Vietnam's, People's

☆ Vietnam wants to take China's place as a new factory of the world — but a $12 billion financial fraud case is getting in the way
▼ + stars: | 2024-04-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Vietnamese real-estate tycoon Truong My Lan was sentenced to death for her role in a $12.5 billion fraud case. Lan's fraud case is part of Communist Party Secretary Nguyen Phu Trong's corruption crackdown. Lan, the chairwoman of real-estate developer Van Thinh Phat Group, was arrested in 2022 over the fraud case. AdvertisementThe high-profile fraud case has scandalized the country and is raising questions about the one-party state. For context on the scale of the Vietnam fraud case, consider the 1MDB case, which rocked Malaysia and the world when it started to unravel in 2015.

Persons: Truong, Lan, Communist Party Secretary Nguyen Phu, —, Van Thinh, Zachary Abuza, Trang Bui, Bui Organizations: Communist Party Secretary, Service, Prosecutors, Vietnamese Communist Party, National War College, Washington DC, Bloomberg, Cushman, Nikkei Locations: Vietnam, China, Malaysia, Malaysian, Hanoi, Washington, Wakefield

☆ Tycoon’s death penalty in $12.5 billion fraud case highlights Vietnam’s corruption crisis
▼ + stars: | 2024-04-12 | by ( Heather Chen | ) edition.cnn.com time to read: +12 min

The scale of the fraud was said to be equivalent to roughly 3% of Vietnam’s economy. Though widely considered ceremonial, the presidency is one of the top three positions in Vietnam’s political hierarchy after the CPV’s Secretary General, currently Nguyen Phu Trong. In fact, the International Monetary Fund expects Vietnam’s economy to grow by 5.8% this year, compared to 4.6% for China. Their fate remains unclear, given the highly secretive nature of Vietnam’s political system. But Vietnamese political experts said a permanent appointment would not end the instability.

Persons: Truong My Lan, Van Thinh, siphoned, “, Eric Chu, Vietnam’s, Vo Van, Trong, Thuong, Vo Van Thuong, Richard A, Brooks, Nguyen Xuan Phuc, Pham Binh, Le Hong Hiep, Yusof, ” Hiep, ”, Thu, General Trong, Xi Jinping, ” Zachary Abuza, Salt Bae, Lam, ” Abuza, Nguyen Phu Trong, Evelyn Hockstein, Abuza, Bui Thanh Soh, ” Soh, Vo, Xuan, Thuong’s, Le Hong Organizations: CNN, Van Thinh Phat Holdings Group, Stock Commercial Bank, Reuters, SCB, Express, Communist Party, Institute, Crisis Group, National War College, Vietnamese Communist Party, Public Security, Vietnam, International Monetary Fund, Companies, Apple, Intel, Vietnam's Communist Party General, Yusof, Brookings Institution, “, Crisis Locations: Vietnam, Saigon, People’s, Ho Chi Minh City, Hong Kong, Duc, Singapore, Asia, China, Washington, “, London, Turkish, Hanoi, Bangkok

☆ Truong My Lan: Vietnam tycoon sentenced to death in $12 billion fraud case
▼ + stars: | 2024-04-11 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

Hanoi CNN —A court in Vietnam sentenced real estate tycoon Truong My Lan Thursday to death over her role in a 304 trillion dong ($12.46 billion) financial fraud case, the country’s biggest on record, state media reported. The crackdown, dubbed “blazing furnace,” has seen hundreds of senior state officials and high-profile business executives prosecuted or forced to step down. Lan and her accomplices were accused of siphoning off more than 304 trillion dong from Saigon Joint Stock Commercial Bank, or SCB, which she effectively controlled through dozens of proxies, according to investigators. From early 2018 through October 2022, when the state bailed out SCB after a run on its deposits, Lan appropriated large sums by arranging unlawful loans to shell companies, investigators said. Lan will appeal the verdict, a family member told Reuters before it was issued.

Persons: Hanoi CNN —, Truong, Van Thinh, Vietnam’s, Nguyen Phu Trong, ”, Lan Organizations: Hanoi CNN, Van Thinh Phat Holdings Group, Communist Party, Stock Commercial Bank, Reuters Locations: Hanoi, Vietnam, Chi Minh City, Saigon

☆ Vietnamese property tycoon sentenced to death in country’s biggest ever financial fraud, state media reports
▼ + stars: | 2024-04-11 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Vietnamese property tycoon Truong My Lan (C) looks on at a court in Ho Chi Minh city on April 11, 2024. The Vietnamese property tycoon Truong My Lan was sentenced to death on Thursday for her involvement in the country's biggest ever financial fraud case, state media outlet Thanh Nien reported. She was sentenced to death for the embezzlement charges and to 20 years in prison for each of the other two accusations, according to state media. Around $12.3 billion were allegedly funnelled to Van Thinh Phat while other funds were used privately. Alongside Lan, more than 80 other people including central bank officials have been charged in the case for damaging SCB, state media reported.

Persons: Truong, Lan, Van Thinh, Van Thinh Phat, Vietnam's Organizations: Thanh, Van Thinh Phat Holdings Group, Stock Commercial Bank, Reuters, CNBC, Communist Locations: Ho Chi Minh, Saigon

☆ A Vietnamese real-estate exec embezzled so much money it equalled 3% of the country's GDP. Her punishment is death.
▼ + stars: | 2024-04-11 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Real estate tycoon Truong My Lan was sentenced to death by a court in Vietnam. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Vietnamese real estate tycoon was sentenced to death on Thursday by a Ho Chi Minh City court over her role in a multibillion-dollar financial fraud case. Truong My Lan, the chairwoman of real estate developer Van Thinh Phat Group, was arrested in 2022. The fraud trial, which began on March 5, was Vietnam's largest ever, and among Southeast Asia's most significant corruption scandals.

Persons: Truong, Lan, Prosecutors, —, Van Thinh Organizations: Service Locations: Vietnam, Chi Minh City

Truong My Lan, a Vietnamese real estate tycoon, was sentenced to death on Thursday for her role in a financial fraud case, in a major display of the ruling Communist Party’s resolve to crack down on corruption. The trial for Ms. Lan, who was the chairwoman of the real estate developer Van Thinh Phat Group, was part of the government’s campaign against corruption. The leader of Vietnam’s Communist Party, Nguyen Phu Trong, has sought for years to stamp out corruption as the nation emerges as a major manufacturing hub and as one of Asia’s fastest-growing economies. Mr. Trong launched the anti-corruption drive in 2016, saying that graft could threaten the survival of the Communist Party, which has governed the country for nearly half a century. The campaign has led to the downfall of many business leaders and top officials, including former President Vo Van Tong, who resigned in March amid corruption allegations.

Persons: Truong, Lan, Van Thinh, Nguyen Phu Trong, Trong, Vo Van Tong Organizations: Vietnam’s Communist Party, Communist Party Locations: Vietnamese, Ho Chi Minh City

☆ Yellen returns to China to tackle economic challenges bedeviling ties with US
▼ + stars: | 2024-04-04 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Janet Yellen has kicked off her second visit to China as US treasury secretary to continue efforts to further stabilize ties between the world’s two largest economies. “During prior meetings with her Chinese interlocutors, Yellen has largely avoided taking a strong stance on controversial issues,” he said. Trade tensionsBiden administration officials have suggested raising tariffs on Chinese imports to “level” the playing field for trade. Former President Donald Trump has threatened to slap 60% tariffs on imports from China if he is re-elected. The “forces” are often referred to as emerging industries such as EVs, new materials and artificial intelligence.

Persons: Hong Kong CNN — Janet Yellen, Yellen, “, ’ Yellen, Joe Biden, Xi Jinping, Li Qiang, Lifeng, Liu He, Pan Gongsheng, Lan Fo’an, Craig Singleton, ”, Biden, Xi’s, Donald Trump, Rick Waters, ’, Xi, Waters, don’t, ” Singleton Organizations: Hong Kong CNN, People’s Bank of China, Finance, Foundation for Defense of Democracies, Bali . Trade, Biden, Trump, Treasury Department Locations: China, Hong Kong, Georgia, United States, California, Guangzhou, Beijing, Washington, Bali ., Eurasia

☆ A nostalgic look back at when the Internet still felt joyful
▼ + stars: | 2024-03-14 | by ( Steffi Cao | ) edition.cnn.com time to read: +9 min

These were informal but high-stakes gatherings, then known as LAN parties, whether winning a box of energy drinks or just the joy of emerging victorious. Many people who had never experienced the era of LAN parties also responded with excitement. Digital cameras — with which most of the photos in “LAN Party” were taken — had just become widely available to the public. LAN parties made space for competition and community in both 'real life' and online environments simultaneously. Dane Oleson/Electronox/Courtesy Thames & HudsonThough they have significantly dwindled in frequency, LAN parties do still take place.

Persons: David Harrison, Gen Xers, podcaster Merritt, ”, ” K, “, ’, Anne de Waal, Charles, Jeff Tillett, —, Merritt K, Brett Masse, Nick Huber, White, it’s, Dane Oleson Organizations: CNN, chrysalis, Google, Napster, Hudson, Thames, LAN Party, Twitter, QuakeCon, IRL Locations: Brisbane, Australia, Hengelo, The Netherlands, St, Charles Parish , Louisiana, Dallas , Texas, Tulsa , Oklahoma, Lee's Summit , Missouri

☆ 4 reasons to explore Portland, Oregon, from tax-free shopping to mountain views and an award-winning food scene
▼ + stars: | 2024-03-01 | by ( Sponsor Post | Created Insider Studios With | ) www.businessinsider.com time to read: +5 min

Portland, Oregon, was named one of the best travel destinations in the US by Forbes. Here are four things you'll experience when in Portland that make it well worth a trip — or many. Award-winning food scenePortland's food scene is a true standout, rich in both quantity and quality. Also within Forest Park, visitors who want to mix nature and culture can hike to the Victorian-era Pittock Mansion. Explore the official guide to PortlandThis post was created by Insider Studios with Travel Portland.

Persons: Forbes, Bookworms, —, Louis Vuitton, Gucci, James Beard, Gregory Gourdet, There's, Lan, there's Organizations: Forbes, Nines, Portland Farmers, Portland State University, of, Portland Rose, Insider Studios, Travel Portland Locations: Portland , Oregon, Portland, Powell's, Mount Hood, Chinatown, Oregon Coast, Portland's, Forest Park, Mount Tabor

☆ Major companies in China are setting up their own volunteer armies
▼ + stars: | 2024-02-21 | by ( Laura He | ) edition.cnn.com time to read: +12 min

Hong Kong CNN —Chinese companies are doing something rarely seen since the 1970s: setting up their own volunteer armies. According to China’s Military Service Law, male militia members should be 18 to 35 years old. It was latest in a slew of militias established by major Chinese companies in the past year. After 1949, when the party took control of mainland China, the units were eventually embedded into governments, schools and companies. This can, in the long run, save the PLA resources by delegating some duties to militia forces to care for,” Heath said.

Persons: Xi, ”, Neil Thomas, Nuo Nuo, Huang Zhiqiang, Qilai Shen, Liu Jie, Mao Zedong, Mao, Timothy Heath, homebuyers, Heath, ” Heath, Willy Lam, Sam Yeh, ” Lam, China’s Organizations: Hong Kong CNN, CNN, People’s Armed Forces Departments, America’s National Guard, Communist, Asia Society, Center for, Communist Party, China Labour Bulletin, Foxconn, Yili, Armed Forces Department, China’s Military Service Law, People’s Liberation Army, PLA, government’s Communist Party, Inner Mongolia Autonomous, Bloomberg, Getty, Shanghai Municipal Investment Group, Construction Investment, Development, Defense Ministry, People’s Armed Police, Armed, Rand Corporation, Jamestown Foundation, Party, Taiwan Locations: China, Hong Kong, Center for China, Beijing, Zhengzhou, Henan, Hohhot, Inner Mongolia, Yili, Shanghai, Mengniu, Nantong city, Jiangsu, Huizhou city, Guangdong, Wuhan, Hubei province, People’s Republic, United States, Taiwan, Fangchenggang City, Guangxi, ”, PLA, Taiwan's, AFP

☆ Gold set for best week in 7 as dollar softens ahead of US jobs data
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +2 min

Bullion has climbed 1.8% this week, set for its best weekly gain since late December. Lower interest rates boost non-yielding bullion's appeal. Spot gold rose nearly 1% on Thursday after data from the U.S. Labor Department showed initial jobless claims rose more than expected last week. Fed Chair Jerome Powell pushed back on the idea of an interest rate cut in the spring, but expressed confidence in inflation moving towards the desired 2% range. Money market pricing shows traders are nothing but sure about a rate cut in May.

Persons: Brian Lan, Jerome Powell Organizations: Novosibirsk Refining Plant, Treasury, Federal Reserve, GoldSilver, U.S . Labor Department Locations: Novosibirsk, Russia, Singapore, U.S

☆ China is stepping up to save its economy this year, but the data just doesn't seem to be getting much better
▼ + stars: | 2024-02-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

In January, authorities pulled about a dozen moves to stabilize a stock market rout and to support the property sector. But China's economic data isn't encouraging, and investor confidence is still low. Investors are cautiousThe moves gave some support to Chinese markets, but investors are still cautious. China's economic data hasn't been rosy either. Consumer appetite for property is still lowStill, overall consumer appetite for the property market appears to be in the dumps.

Persons: —, Hao Hong, Premier Li Qiang, Hong, Min Lan Tan, Tan Organizations: Service, Bloomberg, Grow Investment, Premier, Reuters, Investors, CSI, Securities Times, Estate Information Corp, Asia Pacific, UBS, Nikkei Locations: China, Beijing, Shanghai, Shenzhen, Guangzhou, Suzhou, Guangxi, Nikkei Asia

☆ Gold near 5-week low as rate-cut optimism tapers
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: +2 min

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices hovered near five-week lows on Thursday, as hawkish remarks from Federal Reserve officials and robust data dampened investors' expectation for deeper and early interest rate cuts in U.S. this year. The dollar has strengthened substantially in the past few days, putting a strain on gold prices, Brian Lan at the Singapore based dealer GoldSilver Central, said. Money markets were betting on 142 basis points of Fed rate cuts this year, while pricing in a 61% chance of a March easing, according to LSEG's interest rate probability app, IRPR. Lower interest rates decrease the opportunity cost of holding bullion.

Persons: Brian Lan, it's, GoldSilver's Lan, Raphael Bostic, Bostic, Christopher Waller's Organizations: Korea Gold Exchange, Federal Reserve, GoldSilver, Traders, Atlanta Federal Reserve Locations: Seoul, South Korea, Singapore

☆ Support for Germany's Greens falls amid budget crisis, poll shows
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] Germany's Greens party co-leaders Omid Nouripour, Ricarda Lan, German Economy and Climate Protection Minister Robert Habeck and German Foreign Minister Annalena Baerbock applause during the 49th Greens party convention in Rheinstetten, near Karlsruhe, Germany, November 25, 2023. REUTERS/Wolfgang... Acquire Licensing Rights Read moreFRANKFURT, Nov 26 (Reuters) - The Green Party's popularity with voters has fallen to its lowest in over five years, a poll showed on Sunday, as Germany's coalition government grapples with a big hole in its budget. A weekly poll conducted by the INSA institute for the Bild am Sonntag newspaper showed 73% of respondents were dissatisfied with the federal government. "The coalition falls to 34%, 18 percentage points less than in the 2021 federal election," said INSA's head Hermann Binkert. "At the moment it does not look like the SPD or the Greens will be able to lead the government after the 2025 general election."

Persons: Omid Nouripour, Ricarda Lan, Robert Habeck, Annalena, Wolfgang, Annalena Baerbock, Hermann Binkert, Olaf Scholz, Emma, Victoria Farr, Christina Fincher Organizations: Germany's Greens, Climate, German, 49th Greens, REUTERS, The Greens, Social Democrats, Free Democrats, SPD, Greens, CDU, CSU, Thomson Locations: German, Rheinstetten, Karlsruhe, Germany, FRANKFURT

☆ Vietnam to Extend Anti-Graft Drive as Police Reveal Real Estate Fraud Worth 3% of GDP
▼ + stars: | 2023-11-23 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +3 min

By Khanh Vu and Francesco GuarascioHANOI (Reuters) - Vietnam's top leader vowed to extend "for the long-term" an anti-corruption campaign that has had a chilling effect on the economy, after police revealed financial scandals in the real estate sector worth more than 3% of gross domestic product. Trong's remarks came after the police announced the outcome of months-long investigations into two financial scandals, revealing for the first time the scale of the fraud, worth a combined $12.8 billion, or 3.2% of the economy. The case had been widely publicised when My Lan was arrested in October last year and led to a crisis in the real estate sector and the market for corporate bonds, which she has been accused of issuing illegally in large amounts. The huge scale of the fraud had not been known until this week and has raised concern among financial experts about the impact on the banking sector. In September, the Asian Development Bank warned of potential spillover into banking from the crisis in the real estate sector as the ratio of non-performing loans increased.

Persons: Khanh Vu, Francesco Guarascio HANOI, Nguyen Phu Trong, Trong's, Truong My Lan, Van Thinh, Lan, Morgan, Moody's, Tan, Francesco Guarascio, Robert Birsel Organizations: Communist Party's, Van Thinh Phat Holdings Group, Stock Commercial Bank, Morgan Research, Asian Development Bank, Group Locations: Communist, Saigon, China

☆ MP takes Everton's 10-point deduction to parliament
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

Soccer Football - Premier League - Everton v Brighton & Hove Albion - Goodison Park, Liverpool, Britain - January 3, 2023 General view of a corner flag inside the stadium before the match Action Images via Reuters/Jason Cairnduff /File Photo Acquire Licensing RightsNov 21 (Reuters) - Labour MP lan Byrne has tabled an 'early day motion' in parliament condemning Everton's 10-point deduction in the Premier League and called for an independent football regulator to be established immediately. Everton became the first Premier League club to be deducted points for breaching financial sustainability rules on Friday. An independent commission imposed an immediate deduction that saw the Merseyside club drop to second-from-bottom from 14th. Byrne, MP for Liverpool, West Derby, said the points deduction was "grossly unjust" and that the level of sanction lacked "any legal or equitable foundation or justification...""This House contends the Premier League can no longer fairly govern top-flight football without independent scrutiny and legislation," he said in the EDM, which MPs can sign up to but are not binding and often do not lead to any action. Reporting by Pearl Josephine Nazare in Bengaluru; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Cairnduff, lan Byrne, Byrne, Pearl Josephine Nazare, Peter Rutherford Organizations: Soccer Football, Premier League, Everton, Brighton & Hove Albion, Goodison, Labour, Everton's, Liverpool, West, Thomson Locations: Liverpool, Britain, Merseyside, West Derby, Bengaluru

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