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☆ NBA roundup: Nets stun Celts with NBA's biggest comeback of season
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +7 min

Cam Johnson added 20 points for the Nets, who also received 17 points apiece from Spencer Dinwiddie and Dorian Finney-Smith. Jayson Tatum, who turned 25 on Friday, finished with 22 points and 13 rebounds, but he missed all eight of his 3-point attempts. Terry Rozier posted 22 points, Gordon Hayward 17 and Mark Williams 13 points for Charlotte, which was hurt by 21 turnovers. Kings 128, Clippers 127De'Aaron Fox recorded 33 points, seven rebounds and seven assists and Sacramento won its fifth straight game by prevailing over visiting Los Angeles. Jonathan Kuminga, coming off the Golden State bench, chipped in with 19 points, seven rebounds and four steals.

☆ NBA roundup: Hornets win again, lose LaMelo Ball
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +3 min

Gordon Hayward added 19 points and Kelly Oubre Jr. joined ball with 18 points for Charlotte. Mark Williams provided 15 points and 11 rebounds. Heat 101, 76ers 99Jimmy Butler had 23 points, 11 rebounds, nine assists and four steals to help Miami edge host Philadelphia. Jayson Tatum, who entered Monday averaging 30.4 points per game, was limited to 14 points before he was ejected late in the fourth quarter. Moritz Wagner and Markelle Fultz added 14 points each and Wendell Carter Jr. had 11 points and 11 rebounds for Orlando, which began a three-game road trip by finishing a season series sweep against New Orleans.

☆ NBA roundup: Jayson Tatum sends Celtics past 76ers
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +6 min

Jaylen Brown led the Celtics with 26 points, Tatum added 18 points, 13 rebounds and six assists and Derrick White had 18 points. Gary Trent Jr. added 19 points for the Raptors, who have won four in a row for the first time this season. Tyrese Haliburton added 15 points and 14 assists, and Andrew Nembhard scored 13 points. LaMelo Ball had 19 points and 13 assists, Kelly Oubre Jr. and Dennis Smith Jr. both supplied 15 points and Terry Rozier finished with 14 points. Bam Adebayo had 14 points and Kevin Love posted 13 points and 13 rebounds for the Heat, who shot 40 percent from the field.

☆ China's new home prices rise in Jan for first time in a year
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

More major cities among the 70 surveyed by NBS reported increases in new home prices last month, with prices rising in 36 cities, up from 15 in December. Analysts see rising home prices as a positive sign, but believe more stimulative policies are needed to lift currently dismal demand and spark a longer-term recovery. The property sector, once an engine of the world's second-largest economy, has been hobbled by fragile demand and developers' mounting debt defaults. Prices were down 1.5% year-on-year in January, with the rate of decline unchanged from December. "The roots of the crisis in China's property sector lie in the worsening long-term outlook for demand," said Mark Williams, chief Asia economist at Capital Economics.

☆ NBA roundup: Bucks best Clippers for 10th straight win
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +9 min

Brandon Boston Jr. scored 20 points and Paul George added 19 points and 11 rebounds for the Clippers. Norman Powell had 16 points and Marcus Morris Sr. scored 15 for Los Angeles, which has lost two games in a row. Domantas Sabonis put up 18 points, 11 rebounds and a team-high seven assists for the Kings. Detroit's Jaden Ivey supplied 17 points, eight rebounds and eight assists, while Isaiah Stewart had 15 points and 11 rebounds. Desmond Bane added 20 points, seven rebounds and five assists, while Jaren Jackson Jr. tallied 15 points and six rebounds.

☆ Premarket stocks: State of the Union, recession, crypto woes and more tech layoffs: What investors are watching
▼ + stars: | 2023-02-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

Wall Street will also be watching closely for clues about the ongoing debt ceiling debate, tax policy, foreign relations and more. The unemployment rate ticked down a tenth of a percentage point to 3.4% — the lowest jobless rate since May 1969. European diesel prices fall as Russian ban kicks inEurope’s ban on Russian diesel arrived this week without inflicting more pain on the region’s economy. Russia accounted for 29% of the region’s total diesel imports last year, data from Rystad Energy shows. Countries have prepared for the latest ban by ramping up imports of Moscow’s diesel in recent months.

☆ Potential buyers are leveraging high-profile blowups like Frank and FTX to get better terms. Insiders detail how dealmaking is changing in 2023.
▼ + stars: | 2023-02-07 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

We don't want to look like JPMorgan,'" Jason Mikula, fintech analyst and writer behind Fintech Business Weekly, told Insider. How closely they adhere to it matters greatly in terms of if a deal is on the line," Mandelbaum told Insider. Investors pumped $132 billion globally into fintechs in 2021 and there were more than 900 fintech M&A exits, according to CB Insights. "It's now a buyer's market," Rob Brown, CEO of Lincoln International, a global investment-banking advisory firm, told Insider. One way companies might optimize the due-diligence process without cutting corners is by leaning on machines to help with the heavy lifting.

☆ Russian diesel prices fall in Europe despite latest ban
▼ + stars: | 2023-02-06 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

“Those stocks should act as a buffer against the immediate loss of Russian diesel imports,” Williams said. However, he added that the United States could redirect some of its current diesel exports to South America to Europe, with Russian diesel then “find[ing] a home” in South America. OilX’s Crosby noted that there are “many more” potential buyers of Moscow’s diesel compared with its crude exports. “Most Russian diesel barrels will manage to make it to global markets,” he said. “The notion that Russian diesel will have a very hard time finding new homes is beginning to lose credibility.”— Julia Horowitz contributed reporting.

☆ NBA roundup: Mavs win game but lose Luka Doncic
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +5 min

Knicks 120, Celtics 117 (OT)Julius Randle scored 37 points and Jalen Brunson added 29 as New York came back to win in overtime in Boston. Brunson added four rebounds, seven assists and two blocks, rejecting Malcolm Brogdon's potential game-tying 3 at the buzzer. Jayson Tatum had 35 points and 14 rebounds while Jaylen Brown added 22 points in Boston's third straight loss. Zach LaVine had 18 points and nine rebounds, Patrick Williams posted 15 points in his hometown, and Nikola Vucevic (nine rebounds) and Ayo Dosunmu each had 12 points. Norman Powell added 15 points for Los Angeles, with Robert Covington scoring 13 and Reggie Jackson and Ivica Zubac contributing 12 and 11 points, respectively.

☆ The dealmaking boom meant fast timelines and loose due diligence. But high-profile implosions like FTX and Frank mean would-be sellers can expect more scrutiny, insiders say.
▼ + stars: | 2023-01-27 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

☆ NBA roundup: Grizzlies edge Cavs for 11th straight win
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +6 min

Jaden McDaniels put up 18 points for the Timberwolves, who lost their second game in a row. Kevin Huerter scored 18 points for the Kings, who went down by 14 points in the first quarter before pushing ahead by halftime. Andrew Nembhard produced 18 points and seven assists for the Pacers, who have dropped five consecutive games. Murray was 12-for-18 from the field and added seven rebounds and four assists. Jalen Green matched his career high with 41 points and added seven assists for the Rockets, who lost their 12th game in a row.

☆ China seen keeping benchmark lending rates unchanged for fifth month
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Jan 19 (Reuters) - China is expected to keep benchmark lending rates unchanged for a fifth month in January, a Reuters survey showed, although analysts think cuts next month are probable after the central bank pledged steps to boost a COVID-ravaged economy. The one-year LPR currently stands at 3.65%, while the five-year LPR is 4.30%. Eleven respondents forecast a cut to the five-year LPR while seeing no change to the one-year tenor. Only one respondent predicted a cut to the one-year LPR. The LPR is calculated each month after 18 designated commercial banks submit quotes to the National Interbank Funding Center, a PBOC affiliate.

☆ Europe’s ban on Russian diesel could send pump prices even higher
▼ + stars: | 2023-01-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

That has included a ban on all Russian seaborne crude oil imports, which came into force in December. Russia is the bloc’s biggest supplier, making up 29% of its total diesel imports last year, data from Rystad Energy shows. “On diesel we see the opposite, where imports have picked up — almost a final dash before the finish line,” he added. But importing diesel from suppliers further afield, including the United States and Saudi Arabia, will push up freight costs, feeding into higher consumer prices, he said. But León said that the impact of the ban won’t be felt immediately in Europe because of the large amount of diesel in its stocks.

The ban is likely to create a diesel supply shortfall that Europe hopes to fill with Chinese fuel, some of which will be produced from Russian crude. China has raised its first batch of 2023 export quotas for refined oil products by nearly half from a year ago. "But without Chinese exports pushing swing barrels westward, Europe is unlikely to replace the 0.5 million bpd loss in Russian diesel exports come the embargo," Energy Aspects analysts said. Russia has long been the main diesel supplier for Europe, where refineries do not produce enough to meet domestic demand from its large diesel car fleet. Reuters GraphicsAn EU ban on Russian crude imports that took effect in December will be broadened to include refined fuels from Feb. 5.

☆ Chinese manufacturing contracts sharply as COVID infections soar
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +4 min

Economists in a Reuters poll had expected the PMI to come in at 48.0. The data offered the first official snapshot of the manufacturing sector after China removed the world's strictest COVID restrictions in early December. Cumulative infections likely reached 18.6 million in December, UK-based health data firm Airfinity estimated. GDP expanded 3% in the first nine months of 2022, versus China's official full-year goal of around 5.5%. The official composite PMI, which combines manufacturing and services, declined to 42.6 from 47.1.

☆ China's capital swings from anger over zero-COVID to coping with infections
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +4 min

[1/3] Pandemic control workers in protective suits sit in a neighbourhood that used to be under lockdown, as coronavirus disease (COVID-19) outbreaks continue, in Beijing, China December 10, 2022. Anecdotal evidence suggests that many businesses have been forced to close as infected workers quarantine at home while many other people are deciding not to go out because of the higher risk of infection. "We can see that hundreds of thousands or tens of thousands of people are infected in several major cities," Zhong said. China's economy may grow 1.6% in the first quarter of 2023 from a year earlier, and 4.9% in the second, according to Capital Economics. Inbound travellers are subjected to five days of quarantine at centralised government facilities and three additional days of self-monitoring at home.

Later on, they shouted, “lift lockdown for Urumqi, lift lockdown for Xinjiang, lift lockdown for all of China!”, according to a video circulated on social media. [1/3] Workers in protective suits keep watch behind a barrier at a sealed restaurant area, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 26, 2022. Some posted screenshots of street signs for Wulumuqi Road, both to evade censors and show support for protesters in Shanghai. Shanghai's 25 million people were put under lockdown for two months earlier this year, an ordeal that provoked anger and protest. A video shared with Reuters showed Beijing residents in an unidentifiable part of the capital marching around an open-air carpark on Saturday, shouting "End the lockdown!"

☆ Here's how to establish better protection around your company's 2 biggest cybersecurity risks
▼ + stars: | 2022-11-18 | by ( Sponsor Post | Created Citizens With Insider Studios | ) www.businessinsider.com time to read: +6 min

There are a number of ways that cybercriminals target payments directly or collect sensitive information that allows them to access financial accounts. Phishing remains one of the most common methods criminals use to gain access to payments or sensitive information. Under the guise of authority, they ask employees to send payments or sensitive information. Stolen credentials can also be used to initiate fraudulent ACH payments. Ransomware programs typically infiltrate a company's network, encrypting data across the network to render it unusable and then holding the encrypted data for ransom.

☆ No easy fix for China as economy slows more than expected
▼ + stars: | 2022-11-11 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

China is on track to miss its annual growth target of around 5.5% - the latest Reuters poll forecast 2022 growth at 3.2%. Data on Thursday showed new bank lending in China fell more than expected in October from the previous month while broad credit growth slowed. Underscoring the weakness in domestic demand, factory gate prices for October dropped for the first time since December 2020. But the main near-term headwind remains China's zero-COVID policy, while the longer term drag remains domestic demand. read more"COVID curbs have greatly affected consumption and investment," said Wang Jun, director at China Chief Economist Forum.

☆ US curbs on China's microchip industry could throttle Xi Jinping's tech ambitions
▼ + stars: | 2022-10-31 | by ( Laura He | ) edition.cnn.com time to read: +8 min

One dramatic, and potentially disruptive aspect of the rules is the ban on American citizens and legal residents working with Chinese chip firms. The ban could lead to a mass resignation of top executives and core research staff working at Chinese chip firms, which will hit the industry hard, Dong from Georgetown University said. So far it’s not clear exactly how many American workers there are in China’s domestic chip industry. At Advanced Micro-Fabrication Equipment China (AMEC), one of the country’s largest semiconductor equipment manufacturers, at least seven executives, including founder and chairman Gerald Yin, hold US citizenship, the latest company documents show. But some Western suppliers have already started preparing to halt sales to China in response to the US export curbs.

"East of Suez is sending everything they can ship... it's just a question of how much China exports in November," a Europe-based trader said. Exports from India and the Middle East for October to northwest Europe were at around 480,000 tonnes and 834,000 tonnes respectively, compared with 361,000 tonnes and 511,310 tonnes a month ago, the data showed. The trader estimated that Europe may import about 3 million tonnes (750,000-850,000 barrels per day) from east of Suez in November, of which the Middle East could account for two-third of the volume. Traders expect the bulk of supplies to Europe to come from India and the Middle East, on shorter shipping times. Already soaring diesel prices in the United States have led traders to divert several cargoes heading from the Middle East to Europe to the New York harbour area, further constraining supplies in Europe.

☆ Xi set to open party congress at challenging time for China
▼ + stars: | 2022-10-14 | by ( Tony Munroe | ) www.reuters.com time to read: +5 min

China's President Xi Jinping attends a wreath laying ceremony on Tiananmen Square to mark Martyrs' Day on the eve of the National Day in Beijing, China September 30, 2022. Still, diplomats, economists and analysts spoken to by Reuters say Xi is set to consolidate his grip on power. In securing a third term Xi breaks with the two-term precedent of recent decades. Also breaking with norms: no successor to Xi, 69, is expected to be identified, analysts say, which would indicate he plans to remain in power even longer. Still, analysts say, the views of any individual matter less nowadays as Xi has sidelined those seen as "reformers" in favour of his more state-driven and nationalistic economic policies.

This figure compares with 1.1 million bpd of offline capacity in September, and is above the 2015-2019 average for this period. Maintenance outages next month include Eni's Sannazzaro refinery in Italy, Repsol's (REP.MC) Tarragona refinery in Spain, and Galp Energia's (GALP.LS) Sines refinery, among others. read more"The European diesel market is looking a bit softer than we had expected say this time last month," Gallarti said, adding that the consultancy has softened its European demand forecast as economic pressures mount. read moreBut while higher imports and a softening demand outlook are helping to ease the pressure on diesel markets, widespread refinery outages in France, partly due to strike action, could tighten supplies again. Benchmark European diesel profit margins hit a two-week high of about $50 a barrel on Wednesday, based on Reuters assessments, driven by the French strikes.

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