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☆ British balloon bursts as valiant Murray fizzles on main stage
▼ + stars: | 2023-07-07 | by ( Ossian Shine | ) www.reuters.com time to read: +4 min

Pairing a steel resolve with his fabled metal hip, the 36-year-old was allowing British tennis fans to dream. Middle-aged men in well-tailored suits jumped to their feet, revealing flamboyant cufflinks as they pumped their fists to celebrate winning shots. Women clapped hands above their heads, beseeching Murray -- the man who, a decade ago, had ended the 77-year wait for a British Wimbledon champion -- to finish off his youthful rival and write another chapter. Disappointment drenched the arena, tempered with admiration for the Scottish warrior who has done so much for British tennis. When asked how confident he was that he would be competing at Wimbledon next year, Murray said: "I don't know.

Persons: Andy Murray, strode, Stefanos Tsitsipas, Murray, beseeching Murray, Wimbledon's, it's, Scot, Tsitsipas, Ossian Shine, Ken Ferris Organizations: Court, British Wimbledon, U.S, Wimbledon, Thomson Locations: British, Scottish

☆ China’s factory activity shrinks for a third month as recovery momentum stalls
▼ + stars: | 2023-06-30 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Factory activity in China in June contracted for a third month, official data released June 30, 2023 show. Weak China economic data in April and May have fanned calls for economic stimulus for the world's second-largest economy. China's factory activity in June contracted for a third month, while non-manufacturing activity was at its weakest since Beijing abandoned its strict "zero Covid" policy late last year. A PMI reading above 50 points to an expansion in activity, while a reading below that level suggests a contraction. It is not clear if the weak economic data would push the government to launch aggressive stimulus measures soon," he added.

Persons: —, Zhang Zhiwei Organizations: National Bureau of Statistics, PMI Locations: China, Beijing

☆ China cuts loan prime rate as economic recovery fizzles out
▼ + stars: | 2023-06-20 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The rate cuts come as Wall Street banks, including Goldman Sachs, slash their forecasts for China’s economy. The People’s Bank of China on Tuesday trimmed its one-year loan prime rate (LPR) by 10 basis points from 3.65% to 3.55%, and reduced the five-year rate by the same margin to 4.2%. This is the first time the PBOC has cut both LPR rates since August 2022, when renewed Covid lockdowns and a deepening property downturn were pummeling the economy. “The 10 bps rate cut[s] are unlikely to stimulate business confidence and housing demand,” said Ken Cheung, chief Asian foreign exchange strategist at Mizuho Bank. Hong Kong and mainland Chinese stocks slid after Tuesday’s rate cuts.

Persons: Goldman Sachs, Goldman, Covid, ”, Ken Cheung, “, ” Goldman Sachs, Fu Linghui Organizations: Hong Kong CNN, People’s Bank of China, Mizuho Bank, Shanghai, National Bureau, Statistics, NBS Locations: Hong Kong, Beijing

☆ Millionaires are fleeing China at a faster pace as the post-COVID economic rebound fizzles
▼ + stars: | 2023-06-13 | by ( Jason Ma | ) www.businessinsider.com time to read: +3 min

Millionaires are fleeing China at a faster pace as the post-COVID economic rebound fizzles. China will see a net loss of 13,500 in 2023, up from 10,800 in 2022, the Henley Private Wealth Migration Report said. Meanwhile, the US will see a net gain of 2,100 millionaires, up from 1,500 last year. China will see a net loss of 13,500 high-net-worth individuals in 2023, up from 10,800 in 2022, according to the Henley Private Wealth Migration Report. After China's economy expanded strongly from 2000 to 2017, the growth of millionaires since then has been negligible, he added.

Persons: —, Andrew Amoils, Amoils, Henley, gainers, Juerg Steffen Organizations: Millionaires, Henley, Wealth, Service, Huawei, United, United Arab Emirates, Partners Locations: China, fizzles, Henley, Taiwan, Hong Kong, India, Australia, United Arab, Singapore

☆ Crude rally fizzles after OPEC production cuts
▼ + stars: | 2023-06-05 | 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 EmailCrude rally fizzles after OPEC production cutsCNBC's Brian Sullivan joins 'The Exchange' to discuss Saudi Arabia announcing increased its voluntary production cuts, the impact OPEC's production change will have on crude oil prices, and the timeline for Saudi energy cuts.

Persons: Brian Sullivan Locations: Saudi Arabia, Saudi

☆ How to start 'career cushioning' so you aren't screwed if you lose your job
▼ + stars: | 2023-04-26 | by ( Shana Lebowitz | Rebecca Knight | ) www.businessinsider.com time to read: +4 min

That's why it's wise to "career cushion" so you're not blindsided if you lose your job. Experts recommend updating your LinkedIn profile and ramping up your networking. Knowing you're prepared for a possible worst-case scenario by "career cushioning" can mitigate some of the stress you're feeling, according to Blair Heitmann, a career expert at LinkedIn. Cushioning makes you feel that you're ready "for whatever comes next in the economy and in the job market," Heitmann told Insider. Update your social-media profilesHeitmann said the first — and potentially easiest — thing to do is update your LinkedIn profile.

☆ Three investors on how to protect your portfolio
▼ + stars: | 2023-04-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —Wall Street has been hit with a barrage of complex signals about the economy’s health over the past month. From banking turmoil to weakening jobs data to slowing inflation, and now the start of earnings season, investors have remained largely resilient. So, how should investors protect their portfolios? Investors say there isn’t one asset that Wall Street should pile all their bets on, but there are fundamentals that should underlie their investment strategies. Doug Fincher, portfolio manager at Ionic Capital Management, says investors should brace their portfolios against inflation.

☆ I got addicted to an app that helped me turn my most ambitious goals into daily routines
▼ + stars: | 2023-04-11 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +12 min

Once I complete the task, I mark it on a calendar in the app and a colorful streak grows. Each time I logged a successful session on Everyday and the habit's streak grew, it felt like a microwin. Streaks reward repetition, Lindemans explained, but the reason they're so motivating is not the sense of accomplishment they imbue. After all, I was being motivated by the app instead of by my desire to meet my goals. The apps helped me focus on the action itself instead of on setting up my own structure for carrying them out.

☆ China-driven growth seen helping emerging assets despite bank worries
▼ + stars: | 2023-03-30 | by ( Duncan Miriri | ) www.reuters.com time to read: +4 min

LONDON, March 30 (Reuters) - Stronger Chinese-led emerging markets growth will likely buffer the stocks, bonds and currencies of many developing nations as markets in the United States and Europe are whipped around by banking turmoil. "The growth premium in favour of emerging markets driven by China is clearly even more confirmed," Alessia Berardi, head of emerging markets (EM) research at Amundi, Europe's biggest asset manager, told Reuters. Analysts expect high interest rates, inflation and stress among some financial institutions to dampen growth in developed markets like the United States. "We prefer income in emerging markets debt with central banks closer to turning to cuts than developed markets, even with potential currency risks," it said in a research note. Local EM bonds have seen a return of 3.3% in the month-to-date (.JGEGDCM), compared to a 3.1% gain in U.S. 10-year Treasuries.

Summary Wedding boom, fuelled by government handouts, fizzlesSurging inflation boosts wedding costs, devalues benefitsSome couples scaling back or even scrapping wedding feastsJanuary weddings fall to lowest since January 2014BUDAPEST, March 27 (Reuters) - Soaring inflation is taking the steam out of Hungary's wedding market, supercharged in recent years by Prime Minister Viktor Orban's lavish family support measures, with the number of weddings plunging to a nine-year-low at the start of 2023. In January the number of weddings recorded in Hungary fell to 1,230, preliminary data showed - the lowest number since January 2014. "We did not think that this wedding boom would be so strong and prolonged, but it will now probably return to equilibrium." Mihaly Toth, a master of wedding ceremonies, says the number of couples planning to tie the knot is likely to fall from last year's levels. "We will just have a small family get-together and then go out with some friends for the night," Szabo said.

☆ Apple, Microsoft Dominate U.S. Markets After FAANG Trade Fizzles
▼ + stars: | 2023-03-22 | by ( Hardika Singh | ) www.wsj.com time to read: 1 min

Apple has emerged as a haven in the stock market turmoil, bringing its weighting in the S&P 500 to 7.11%. The FAANG era is apparently over. The U.S. market is dominated by just two stocks now. The combined weighting of Apple Inc. and Microsoft Corp. in the S&P 500 has risen to 13.3%, the highest level on record, while the influence of other big technology stocks has waned of late. That is according to Strategas Securities data going back to 1990.

☆ Small-Cap Stocks Shine in Market Reversal
▼ + stars: | 2023-03-02 | by ( Vicky Ge Huang | ) www.wsj.com time to read: 1 min

Signs of strength in the U.S. economy have boosted the attractiveness of small-cap stocks for investors despite recession fears. Investors are hoping shares of small, domestic-focused companies have more room to run, even as the rebound in the broader market fizzles. They have added a net $4.2 billion to U.S. mutual and exchange-traded funds that buy small-capitalization stocks this year, while pulling $17.4 billion from large-cap funds, according to data from Refinitiv Lipper through Feb. 22. Of the equity groups tracked by Refinitiv Lipper, the inflows to small-cap funds are second only to international stock funds, which have attracted $16 billion.

☆ Investors should pile into short-term bonds as markets wake up to the reality that the Fed is going to stay aggressive, BlackRock says
▼ + stars: | 2023-02-24 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Investors may want to look to short-term bonds as stocks sell off amid fears of a hawkish Fed, per BlackRock. US 2-year treasury yields jumped near 15-year highs this week as equities retreated. Traders are assessing hotter-than-expected Core PCE data released on Friday. US 2-year Treasury yield jumped near 15-year highs of 4.9% this week as investors placed bets on more rate hikes by the Fed. Core PCE increased 0.6% from a month earlier, the most since June.

☆ AI Becomes Silicon Valley’s Next Buzzy Bandwagon as Crypto Boom Fizzles
▼ + stars: | 2023-02-18 | by ( Christopher Mims | ) www.wsj.com time to read: 1 min

The new artificial-intelligence tools getting widespread attention for spitting out text, images and computer code are also generating something else: talk of the next technology bubble. Technologists broadly agree that the so-called generative AI that powers systems like ChatGPT has the potential to change how we live and work, despite the technology’s clear flaws. But some investors, chief executives and engineers see signs of froth that remind them of the crypto boom that recently fizzled.

☆ European natural gas prices hit 18-month low and near parity with crude oil as Vladimir Putin's energy war fizzles
▼ + stars: | 2023-02-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Alternative suppliers and a warm winter have brought European gas prices below 50 euros per megawatt hour. Natural gas prices are now equivalent to $85 per barrel, nearly on par with Brent crude oil at around $83. At the current level, natural gas prices are equivalent to $85 per barrel, nearly on par with Brent crude oil at around $83. In November, Germany signed a 15-year contract with Qatar, a major liquefied natural gas exporter. But further downside to gas prices may be limited as demand looks to pick up.

☆ UPS cutting back on some jobs as Teamster labor talks loom
▼ + stars: | 2023-02-13 | by ( Lisa Baertlein | ) www.reuters.com time to read: +2 min

With the move, UPS joins rival FedEx (FDX.N) and other major transportation companies in trimming jobs as the early pandemic's e-commerce shipping boom fizzles. But the stakes are higher at UPS, which is preparing for the largest North American private sector union contract negotiations later this year that will pit the world's largest package delivery firm against the powerful Teamsters union. The contract covering roughly 350,000 Teamsters-represented drivers, loaders, package sorters and other UPS workers expires on July 31. "This is not nationwide, but only in select parts of the country, in response to uneven demand," UPS said. According to the UPS labor contract, reassigned full-time workers could opt to leave or take another job.

☆ Sell-off fizzles out ahead of Fed, ECB and BoE speeches
▼ + stars: | 2023-02-07 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

[1/2] The Federal Reserve building is seen in Washington, U.S., January 26, 2022. Then comes Federal Reserve Chairman Jerome Powell at the Economic Club of Washington during U.S. trading plus U.S. President Joe Biden's State of the Union address. DEADLY QUAKEAmong the main commodities, oil jumped for a second straight session driven by optimism about recovering demand in China, and after Monday's devastating earthquake in Turkey had shut down one of the region's major oil export terminals. "Equities have had a strong run since the start of the year so seeing an air pocket emerge now is no major surprise." Additional reporting by Scoot Murdoch in Sydney; Editing by Simon Cameron-Moore and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil ‘mega-protest’ fizzles amid authorities’ concern
▼ + stars: | 2023-01-12 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

BRASILIA, Brazil — Skittish Brazilian authorities on Wednesday spared no effort to boost security in the face of a social media flyer promoting a “mega-protest to retake power” in two dozen cities. On Brasilia’s esplanade surrounded by federal government buildings, authorities had designated an area for protest and stationed police and national guard troops. Just one couple showed, dressed in the same Brazil soccer jerseys that thousands of rioters wore four days earlier. Citing the call to protest, a Supreme Court justice ordered local authorities in cities across Brazil to prevent protesters from blocking roads or occupying public spaces and buildings. Justice Minister Flávio Dino told local press this week that authorities have identified some of the protest’s financiers.

☆ Crypto just had an awful week
▼ + stars: | 2023-01-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

It’s the kind of negative press that the crypto faithful want to either ignore completely or denounce as a fringe, one-off scandal. But crypto is a tight-knit web, and when one corner collapses it puts the whole lot at risk. And we’re not done yet…Also this week:Coinbase, a publicly traded US crypto platform, agreed to a $100 million settlement after a New York regulator found “significant failures” to comply with the state’s anti-money-laundering laws. Bottom line: I’m not here to write crypto’s obit, and I am well aware that there are plenty of legitimate crypto enterprises out there. But no one within crypto agrees on what those regulations should look like, and some dispute the need for regulation in the first place.

☆ Half of US employers are planning layoffs. Here's how to start 'career cushioning' so that you aren't screwed if you lose your job.
▼ + stars: | 2022-12-10 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +4 min

It helps to be prepared — to "career cushion" — so you're not blindsided if you lose your job. Start by updating your LinkedIn profile, networking more creatively, and thinking about your goals. Knowing you're prepared for whatever comes next can help mitigate some of that terror. Update your social-media profilesHeitmann said the first — and potentially easiest — thing to do is update your LinkedIn profile. "It's always helped me to really think through how to be prepared," Heitmann said.

Now Biden faces a backlash from a core of rail workers and allied groups, as some of them see a betrayal in the bill he pushed to avert a rail strike. The standoff between rail workers and the profitable companies that employ them posed an awkward dilemma for Biden, forcing him to find an elusive middle ground between dueling campaign pledges. A rail strike threatened to unravel the job gains that no doubt will be central to any Biden re-election campaign. He said he is not giving up on paid sick leave for rail workers and other Americans who don’t receive such benefits. …”Still, the president could have used more leverage to reach a deal that included paid sick leave, union officials and allies contend.

☆ Silicon Valley’s Talent Spotters Are Now Looking for Jobs
▼ + stars: | 2022-11-29 | by ( Katherine Bindley | ) www.wsj.com time to read: 1 min

Companies couldn’t hire enough recruiters to help fill all of the open technology positions they had a year ago. Now many tech-talent seekers are job-hunting themselves. Few other professionals have felt the whiplash more as big tech’s long-running hiring boom fizzles out. It is a sharp reversal for a field in which even inexperienced tech recruiters could earn low six figures. At Meta Platforms Inc., CEO Mark Zuckerberg warned that recruiting staff would be disproportionately hit in the 11,000 layoffs it announced this month—the result, he said, of too much hiring and spending during the pandemic.

☆ A veteran chartmaster expects the bear market to continue into 2023 after the latest rally fizzles — but these 4 types of stocks appear to be set up for strong gains next year
▼ + stars: | 2022-11-19 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

David Keller, StockCharts.comThe S&P 500 has pulled back from the critical technical resistance level of 4,000, Keller noted. A round number like that is not only seen as a significant milestone for psychological reasons, but it's also a key Fibonacci retracement level, Keller said. The S&P 500 will likely retest the 3,200 level at some point and will be hovering around current levels by the middle of next year, the veteran chartmaster said. It's currently at 24, down from 33.6 when the S&P 500 was at its mid-October lows. The S&P 500 can hit new highs and break the 5,000 mark by late 2023, Keller said, though he doubts a breakthrough will come any earlier than that.

However, Biden said the weapon was probably not fired by Russia, although the investigation was ongoing. According to U.S. officials, initial findings suggested that the missile that hit Poland had been fired by Ukrainian forces at an incoming Russian missile, the Associated Press said. "Right now, it's a bit of a tussle in the market as to how to price this risk," he added. Risk-sensitive Antipodean currencies recovered from earlier declines with Australian dollar last up 0.19% at $0.67685, while the kiwi was flat at $0.6158. "The currency market is stabilising, toying with the notion that this ... doesn't necessarily imply an escalation in the war, with NATO needing to get involved," said Rodrigo Catril, a senior currency strategist at National Australia Bank.

But shares fell more than 7% after the bank said its 2024 costs would be higher than anticipated, with revenue and operating profit for that year missing analysts' current forecasts. Net profit of 195 million euros in the quarter compares with a profit of 403 million a year earlier. Analysts had expected profit of 116 million euros on average in a consensus forecast published by the bank. Looking ahead to 2024, the bank said it now expects operating profit of 3.2 billion euros, below analysts' expectations. In a note, Deutsche Bank analysts said the forecast was "below consensus" and asked, "How conservative is the 2024 guidance?"

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