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☆ Dollar pauses rally as markets brace for U.S. nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar dipped on Friday but traders were largely keeping to the sidelines in both the currency and U.S. Treasury markets as they looked to U.S. nonfarm payrolls data later in the day for potential catalysts. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman Organizations: . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New Locations: U.S, Reserve Bank of New Zealand

☆ Dollar pauses rally as markets brace for US nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rick Wilking, Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Reserve Bank of New Zealand

☆ Sliding yen raises intervention threat, dollar reigns
▼ + stars: | 2023-09-25 | by ( Rae Wee | ) 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. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.05% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.58.

Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling, Thierry Wizman, Rae Wee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S

☆ Sliding yen stokes intervention threat; dollar reigns
▼ + stars: | 2023-09-25 | by ( Rae Wee | ) 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. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman, Rae Wee Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S, Asia

☆ Sliding yen stokes intervention threat, dollar reigns
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

An employee counts Japanese 10,000 yen banknotes at the Birdy Exchange in Hong Kong, China. Several factors were supporting the recovery in the Japanese yen on Tuesday. Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

Persons: Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman Organizations: Birdy, Bank of Japan, Reserve, Commonwealth Bank of Australia, U.S, Treasury, Bank, Fed, New Zealand Locations: Hong Kong, China, Washington, Japan, U.S, Asia

☆ Macquarie's Fred Havemeyer says copyright should be core to regulating new AI tools
▼ + stars: | 2023-09-12 | 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 EmailMacquarie's Fred Havemeyer says copyright should be core to regulating new AI toolsFred Havemeyer, Macquarie software analyst, joins 'Power Lunch' to discuss the AI hearing on Capital Hill tomorrow.

Persons: Fred Havemeyer Organizations: Macquarie

☆ Traditional TV usage drops below 50% for first time ever
▼ + stars: | 2023-08-15 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

The decline of traditional TV continues, even as the prices of streaming services rise. Total traditional TV usage — comprised of broadcast and pay-TV — dropped below 50% in July for the first time ever, according to Nielsen's monthly streaming report, The Gauge. Usage among pay-TV customers fell to 29.6% of TV, while broadcast dropped to a 20% share during the month. Many consumers left the traditional TV bundle due to its steep prices. Lackluster streaming subscriber growth hasn't helped much in their bid for profitability, Macquarie noted in its report.

Persons: —, Nielsen's, Tim Nollen, Max, Comcast's Peacock, Macquarie Organizations: Comcast Corp, Charter Communications, Comcast, Charter, Macquarie, Macquarie ., Nielsen, Netflix, Disney, Hulu, ESPN, Warner Bros, Warner Bros . Discovery, Paramount Locations: Macquarie

☆ Macquarie flags lower quarterly profit as commodities arm flounders
▼ + stars: | 2023-07-27 | by ( Harish Sridharan | ) www.reuters.com time to read: +2 min

Macquarie's Commodities and Global Markets (CGM) unit, its biggest earner, has for several years cashed in on increasing hedging activity amid volatility in oil and gas markets. That had driven the Sydney-based firm's annual earnings to a record A$5.18 billion ($3.53 billion) in fiscal 2023 ended March. While Macquarie did not disclose a profit figure in its quarterly update, Citi Research had expected first-quarter earnings of around A$1 billion ($680.90 million). The analysts noted, however, that Macquarie's earnings may have come in below that. At the end of the quarter, Macquarie's capital surplus stood at A$10.8 billion.

Persons: Shemara Wikramanayake, Macquarie, Harish Sridharan, Navya Mittal, Echha, Subhranshu Sahu, Christopher Cushing Organizations: Macquarie, Citi, Macquarie Group, Macquarie's Commodities, Global Markets, Citi Research, Thomson Locations: Sydney, Bengaluru

LONDON, July 10 (Reuters) - Thames Water has become the poster child for a British water industry under fire for its poor environmental record and financial mismanagement. After a period as a listed company, Thames Water was acquired by German utility RWE (RWEG.DE) in 2001. Thames Water said on Monday they would provide 750 million pounds, and added it had strong liquidity of 4.4 billion pounds. FINANCESNearly 60% of Thames Water's debt is index-linked, according to ratings agency Standard & Poor's, saddling it with higher repayments as inflation soars. Thames Water was fined 3.3 million pounds last week, while Southern Water was fined 90 million pounds in 2021.

Persons: Margaret Thatcher's, Australia's Macquarie, Abu, Hermes, Ofwat, Sarah Young, Chiara Elisei, Emelia Sithole Organizations: Margaret Thatcher's Conservative, Water, Thames, Ontario, BT, China Investment Corp, Thames Water, Macquarie, Yorkshire Water, Severn Trent, United Utilities, The Times, Environment Agency, Southern Water, Thomson Locations: Britain, Here's, Abu Dhabi, Thames, Southern Water, United, England

A jump in the number of people working part-time for economic reasons also suggested a weaker labor market, but the pace of job growth remains strong and with inflation still double the Fed's target rate, a rate hike this month is likely. "The Fed is being hawkish and that prevents the dollar from depreciating too much. After the jobs data, futures pointed to an 88.8% probability that the Fed hikes in three weeks. Adding a tailwind to the rally in the yen was some position-squaring among speculators, who have built up sizeable bearish positions, Hardman said. The Australian dollar rose 0.8% to $0.6681, but it is still battered by weak Chinese economic data and broad risk aversion.

Persons: Joe Manimbo, We're, Thierry Wizman, They've, Lee Hardman, Hardman, YEN, Herbert Lash, Amanda Cooper, Rae Wee, Sam Holmes, Mark Potter, Barbara Lewis, Marguerita Choy Organizations: Federal Reserves, Labor Department, Treasury, ECB, Strong U.S, Bank of Japan, Thomson Locations: U.S, Japan, New York, London, Singapore

☆ ESPN's layoffs underscore its desperate need for a post-cable lifeline, but analysts are split on Disney's streaming plan that puts $20 billion of revenue at risk
▼ + stars: | 2023-07-07 | by ( James Faris | ) www.businessinsider.com time to read: +13 min

But that plan carries serious risk, as it would jeopardize still-sizable cable revenue without guaranteeing that enough sports fans would support such a product. Several other analysts — including Barton Crockett of Rosenblatt Securities, who has a buy rating for Disney shares — seconded those concerns about cannibalizing cable revenue. Nollen estimated 35 million current cable customers would switch to ESPN DTC. ESPN DTC is zero incremental cost and potentially billions in incremental revenue." An ESPN streamer (in light purple) would gradually drive revenue for Disney, Wells Fargo predicts.

Persons: Disney, that's, Jalen Rose, Todd McShay, Bob Iger, Macquarie's Tim Nollen, Nollen, Barton Crockett, —, Crockett, who'd, Will, you've, they'll, William Cohan, Cohan, Joe Bonner, Bonner, Brandon Nispel, Iger, Nispel, We've, Jason Bazinet, Bazinet, Hulu —, Wells Fargo's Steven Cahall, Cahall, Wells Organizations: ESPN, Disney, Bank of America, NBA, Sports, ESPN Disney's ESPN, Rosenblatt Securities, ESPN DTC, Will Disney, Citigroup, NFL, NBC, Apple, Comcast, NBC Sports, Netflix Netflix, Hearst, Argus Research, Netflix, KeyBanc, Hulu, DIS, Wells Fargo Sports Locations: Wells Fargo, it's, Wells, Hulu, Puck

☆ Iberdrola, Masdar to develop $1.5 billion Baltic wind farm, Expansion reports
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

MADRID, July 5 (Reuters) - Spanish utility Iberdrola (IBE.MC) has signed an exclusive deal with Abu Dhabi's Masdar to develop a 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea, Expansion newspaper reported on Wednesday, citing unidentified market sources. The Baltic Eagle wind farm being built off Germany's northeastern coast will have 50 wind turbines and is part of Iberdrola's strategy to sell advanced renewable projects to raise cash to help finance its 47 billion euro investment plan. Masdar, a renewable energy company owned by the United Arab Emirates' sovereign wealth fund Mubadala, could buy a stake of up to 49% in the project, Expansion said. The newspaper had previously reported that the top candidates jostling for the stake were Masdar, Swiss fund EIP and Australian asset manager Macquarie's green investment arm GIG. This would be the third agreement this year between Iberdrola and a large sovereign wealth fund, having previously agreed deals with Norway's Norges Bank Investment Management (NBIM) and Singapore's GIC.

Persons: Abu Dhabi's Masdar, Iberdrola, GIC, David Latona, David Goodman Organizations: United Arab Emirates, Baltic Eagle, Norway's Norges Bank Investment Management, Thomson Locations: MADRID, Baltic, Iberdrola

MILAN, June 9 (Reuters) - Telecom Italia (TIM) (TLIT.MI) said on Friday it received two new offers for its landline grid as Italy's biggest telecoms group seeks to resolve the impasse over the sale of its main asset. U.S. fund KKR (KKR.N) and a rival consortium comprising state lender CDP and Australian fund Macquarie (MQG.AX) separately submitted bids for Telecom Italia's network, according to a statement. Debt-crippled TIM had sought improved offers for its most valuable asset after having assessed as not yet adequate the proposals received in May. The antitrust problems are linked to CDP and Macquarie's owning fibre optic wholesale provider Open Fiber. Treasury-owned CDP is the second-largest investor in TIM after France's Vivendi (VIV.PA) with a 10% stake.

Persons: Pietro Labriola's, Akriti Sharma, Elvira Pollina, Marguerita Choy, Leslie Adler Organizations: MILAN, Telecom Italia, KKR, Macquarie, Telecom Italia's, TIM, Treasury, France's Vivendi, Thomson Locations: Bengaluru, Milan

☆ Is China heading for Japan-like stagnation? Economist says the worst is likely behind us
▼ + stars: | 2023-06-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Jade Gao | Afp | Getty ImagesBEIJING — China's economic recovery from the pandemic is set to broaden, meaning the country isn't headed toward Japan-style stagnation just yet, according to Macquarie's Chief China Economist Larry Hu. The meeting, led by Premier Li Qiang, noted the foundation of China's economic recovery is not yet solid. Similar, but not the same as, Japan"While the worst is behind us, the recovery is far from being self-sustaining," Macquarie's Hu said. Stock Chart Icon Stock chart icon iShares MSCI China ETF"The absence of a self-sustained recovery in China today is mainly a cyclical, not structural, phenomenon," Hu said. The iShares MSCI China ETF is down by about 4% so far this year.

Persons: Jade Gao, Larry Hu, Hu, Macquarie, China's, Premier Li Qiang, Macquarie's Hu, Japan's Organizations: Afp, Getty, BEIJING, China, State Council, Premier, Companies Locations: Beijing, Japan, China

☆ ESPN is a huge issue for Disney as it reconciles ad revenue pullback , says Macquarie's Tim Nollen
▼ + stars: | 2023-05-19 | 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 EmailESPN is a huge issue for Disney as it reconciles ad revenue pullback , says Macquarie's Tim NollenTim Nollen of Macquarie, along with CNBC's Brian Schwartz and Julia Boorstin join 'The Exchange' to discuss why shares of Disney are trending lower today, Disney's action to buy more shares of Hulu, and Disney's battle with Florida Governor Ron DeSantis.

☆ Macquarie commodities and markets boss earns $39 million, trumping CEO
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, May 5 (Reuters) - Macquarie Group's (MQG.AX) commodities and global markets (CGM) division head earned about A$57.6 million ($39 million) for the year ending March 31, topping the CEO's A$32.8 million compensation, according to the Australian bank's annual report. Nick O'Kane's 59% pay bump - he earned A$36.2 million in the last financial year - came after CGM contributed 57% of the Sydney-based firm's net profit, more than double the second-best asset management division. Macquarie posted another record annual profit on Friday, primarily driven by a strong performance from the CGM division, as more customers hedged against volatile energy markets. "Inventory management and trading increased substantially, driven by trading income from regional supply and demand imbalances primarily in North American gas and power markets." ($1 = 1.4901 Australian dollars)Reporting by Praveen Menon; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Macquarie sees higher income from commodities arm, logs record profit
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Australia's Macquarie Group (MQG.AX) on Friday forecast higher short-term income from its lucrative commodities trading business as price volatility and increased hedging boosted the company's annual profit to a record high. The Sydney-based firm's Commodities and Global Markets segment posted a net profit of about A$6 billion ($4.02 billion), 54% higher than last year, as more customers hedged against volatile energy markets. In the short term, the company expects consistent contributions from client and trading activity in the financial markets platform. It also bumped up its final dividend to A$4.50 per share from A$3.50 per share a year earlier. ($1 = 1.4932 Australian dollars)Reporting by Roushni Nair and Rishav Chatterjee in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

[1/2] Hywind Tampen floating wind farm structures are being assembled at the Wergeland Base in Gulen, Norway, June 7, 2022. But by 2035, the LCOE for floating wind is expected to fall to about 60 euros/MWh. It plans to set a specific target for floating wind this year. Britain aims to have 5 GW of floating wind installed by 2030 but a report by the UK Floating Wind Offshore Wind Taskforce, said 34 GW could be installed by 2040 if ports were upgraded. "South Korea will be commercial the quickest," said Cole at Corio Generation, which has 1.5 GW of floating wind under development there.

☆ Netflix's paid sharing plan will kickstart the advertising tier: Macquarie's Tim Nollen
▼ + stars: | 2023-04-19 | 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 EmailNetflix's paid sharing plan will kickstart the advertising tier: Macquarie's Tim NollenTim Nollen, Macquarie Group senior media analyst, and CNBC's Julia Boorstin join 'Power Lunch' to discuss Netflix's advertising business, how the password crackdown would work, and how much money is to be made.

☆ Analysis: Rate rises pile pain on SME firms in U.S. and Europe
▼ + stars: | 2023-03-30 | by ( Chiara Elisei | ) www.reuters.com time to read: +6 min

Summary SME vulnerability to rate hikes gone under radarUS, European credit conditions tighteningUK SMEs especially vulnerable -analystsLONDON, March 30 (Reuters) - U.S. and European small and medium-sized (SME) firms may be next to feel the pain of rapid interest rate rises, with analysts and investors warily watching for the impact of tighter credit conditions exacerbated by recent banking turmoil. In the U.S. the average rate that small businesses pay on bank loans rose from around 5% to 7.6% in 2022, and is likely to hit about 9.5% by mid-year, Jefferies analysts estimate. British SMEs, hurt by weak growth, double digit inflation and rising Bank of England rates, are seen as particularly vulnerable. "The Government needs to demonstrate that it is on the side of small businesses who are feeling stressed and under huge margin pressure," McTague added. HARD TIMESMeanwhile the rate of small business loan approval at big U.S. banks meanwhile fell in February for nine straight months and business loan approvals at small banks has also fallen, said online financing platform for small businesses Biz2Credit.

☆ Dollar towers on lingering effects of Powell's testimony
▼ + stars: | 2023-03-09 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

In the second day of his testimony to Congress on Wednesday, Powell reaffirmed his hawkish message, though struck a cautious note that debate on the scale and path of future rate hikes was still underway and would be data-dependent. As a result, the U.S. dollar index , which measures the greenback against a basket of six peers, slipped 0.02% to 105.61. Conversely, the Bank of Canada on Wednesday left its key overnight interest rate on hold at 4.50%, becoming the first major central bank to suspend its monetary tightening campaign. The Canadian dollar stood at 1.3808 per U.S. dollar on Thursday, after having weakened to a more than four-month low in the previous session following the decision. Elsewhere, the kiwi rose 0.03% to $0.6107, having slumped to a near four-month low in the previous session.

☆ Salesforce honed in on optimizing sales and marketing spending, says Macquarie's Sarah Hindlian-Bowler
▼ + stars: | 2023-03-02 | 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 EmailSalesforce honed in on optimizing sales and marketing spending, says Macquarie's Sarah Hindlian-BowlerSarah Hindlian-Bowler, head of technology research Americas for Macquarie Capital, joins 'Squawk Box' to discuss Salesforce's buyback activity, the expanding Salesforce board room, and opportunities for stock price appreciation.

☆ Dollar advances, Aussie slides as Australia economy slows
▼ + stars: | 2023-03-01 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Australia's economy grew at the weakest pace in a year last quarter while the country's monthly consumer prices rose less than expected in January, separate data showed on Wednesday. The Aussie slumped in the aftermath of the data to a two-month trough, and was last 0.47% lower at $0.6697. "We see the Fed going to 5.5%, with a growing risk of 6%," said Michael Every, global strategist at Rabobank. Elsewhere, the dollar rose 0.12% against the Japanese yen to 136.38, after having spiked close to 5% against the yen in February, its largest monthly gain since last June. The kiwi fell 0.28% to $0.6167, while the Chinese offshore yuan slipped marginally to 6.9603 per dollar.

[1/7] Farmer Wang Zhanling sits next to his wife in their house in Quansheng village, Heilongjiang Province, China, February 8, 2023. The state-run Chinese Academy of Sciences sees the pension system running out of money by 2035. "If the pension system does not change, this is unsustainable," said Xiujian Peng, senior research fellow in the Centre of Policy Studies at Victoria University in Australia. The province has the lowest birth rate in China, with just over 100,000 births in 2021 and 460,000 deaths. Many experts, including Macquarie's chief China economist Larry Hu, suggest implementing a unified national pension system, backstopped by the more resourceful central government rather than cash-strapped local administrations.

☆ Disney needs to show investors it has a plan to make streaming profitable — and stop hemorrhaging money
▼ + stars: | 2023-02-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

Disney's direct-to-consumer unit, which includes streaming platforms Disney+, Hulu and ESPN+, has yet to reach profitability — losing nearly $1.5 billion last quarter. Those loses spurred Disney's board to push out then-CEO Bob Chapek and bring Iger back to the top job. In 2021 Disney spent $25 billion to produce original content, and the following year expanded its budget to $33 billion. Similarly, Macquarie's Nollen said Disney's advertising-based subscription tier for Disney+ is "a lever Disney can pull to raise revenue." "Lots of angry people ask me why I support Nelson Peltz for the Disney board, and I give a simple answer: What has this board done for its shareholders other than wipe out more shareholder money?"

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