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Meanwhile, two indoor farming companies that attracted strong startup money — New Jersey's AeroFarms and Kentucky's AppHarvest — filed for bankruptcy reorganization. Advocates say growing indoors uses less water and land and allows food to be grown closer to consumers, saving on transport. Tom Kimmerer, a plant physiologist who taught at the University of Kentucky, has tracked indoor farming alongside his research into the growth of plants both outdoors and inside. He said some companies may be struggling to scale up, with problems that come from launching in spaces that aren't necessarily built specifically for indoor farming. Several of the companies say they're on the right track.

Persons: AppHarvest —, Jacob Portillo, Eden Green, that’s, ”, It's, they’re, Tom Kimmerer, “, Kimmerer, Hannah Burrack, you’re, ” Burrack, Evan Lucas, he's, Lucas, Eden, Eddy Badrina, Arama Kukutai, Matt Ryan, Curt Covington, isn't, “ It's, ” Covington, ___ Walling, Joshua A, Bickel, ___, Melina Walling Organizations: Eden Green Technology, Kroger, University of Kentucky, Michigan State University, Northern Michigan University, Eden Green, Walmart, AgAmerica, Associated Press, AP Locations: CLEBURNE, Texas, Dallas, Eden, Cleburne, California, Detroit, Elmwood, Farm, Lexington , Kentucky, Plenty, Chicago, Georgetown , Kentucky, Georgetown, ___

☆ UBS job cuts are tiny strike at Asia wealth fears
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

The logo of UBS Group is seen at an office building in Hong Kong, China March 20, 2023. The headcount reduction is tiny compared to the thousands it slashed in Europe but it hits on two regional wealth worries. Their risk-taking appetite has diminished as the end of cheap money fuels a shakeout in valuations. More significantly, the pruning of jobs in Hong Kong and Singapore hints at a muted outlook for banks that have thrived on handling assets of rich families. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Tyrone Siu, Una Galani, Katrina Hamlin Organizations: UBS Group, REUTERS, Tyrone, Rights, Reuters, UBS, Credit Suisse, X, Warner Bros Discovery, Thomson Locations: Hong Kong, China, Rights SINGAPORE, Swiss, Asia, Europe, Indonesia, Singapore

☆ The stock market is stuck in a typical but anxious seasonal pullback
▼ + stars: | 2023-09-09 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

.SPX YTD mountain S & P 500 YTD My last column before a late-summer hiatus, published July 15 with the S & P about 1% higher than Friday's close, began: "Enough for now? There's been no net progress since then after a modest push higher, 5% pullback and partial bounce. There's no doubt the market is sensitive to these yield moves, unsure how the economy and market might handle them. There's an insistence among plenty of cautious market participants that stocks are only as high as they are because eventual Fed rate cuts are anticipated. Not to be too literal, but this at least would suggest some more seasonal choppiness before a potential break higher.

Persons: There's, Oleg Melentyev, –, Goldman Sachs, Tony Pasquariello, China's Organizations: Federal Reserve, U.S ., Federal, Treasury, Labor, Bank of, UAW, Atlanta Fed, Investment Locations: Europe, China, U.S

Since the dollar index hit a 15-month low and embarked on its current upswing on July 14, Goldman Sachs' U.S. financial conditions index has risen 52 basis points. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsIt is a small sample size, but the exchange rate is becoming an increasingly important factor tightening U.S. financial conditions. But continued dollar appreciation could tighten financial conditions further without the Fed having to raise rates again. The last time they held a net long dollar position was November. Fed economists in June launched a financial conditions index called "FCI-G" - Financial Conditions Impulse on Growth - aimed at measuring the impact of conditions on activity and growth.

Persons: Kim Hong, Goldman Sachs, Jerome Powell, Jamie McGeever, Andrea Ricci Organizations: REUTERS, Rights, Federal Reserve, U.S, HSBC, BULLS, Futures, Reuters, Goldman's FC, Open Market, Thomson Locations: Seoul, Rights ORLANDO , Florida, U.S, Goldman's

☆ UBS inherits tricky wealth legacy in Asia
▼ + stars: | 2023-08-29 | by ( Anshuman Daga | ) www.reuters.com time to read: +4 min

SINGAPORE, Aug 29 (Reuters Breakingviews) - UBS (UBSG.S) CEO Sergio Ermotti is facing an Asian wealth bonanza after acquiring Credit Suisse, which has been particularly strong in Indonesia and neighbouring countries. Tidjane Thiam, who ran Credit Suisse from 2015 to 2020, placed a big bet on the region by creating g a standalone Asian unit led by Indonesian banker Helman Sitohang. Former UBS CEO Ralph Hamers said in March that in Asia, more than anywhere globally, the interplay between wealth management and investment banking was important to lure clients. That working combination helped Credit Suisse regularly top equity capital markets and M&A league tables in Southeast Asian markets. UBS regional chief Edmund Koh told an industry event in July that the Swiss bank will manage about $800 billion of assets in Asia this year, Asia Private Banker reported.

Persons: Sergio Ermotti, Tidjane Thiam, Helman Sitohang, Ralph Hamers, Edmund Koh, Ermotti, Francesco De Ferrari, Benjamin Cavalli, Lisa Jucca, Thomas Shum Organizations: Reuters, UBS, Credit Suisse, Suisse, Credit Suisse’s, Credit, Asia, Banker, HSBC, HK, Thomson Locations: SINGAPORE, Indonesia, Swiss, Asia

☆ Analysis: With central banks' job half done, global inflation talk is shifting
▼ + stars: | 2023-08-23 | by ( Balazs Koranyi | ) www.reuters.com time to read: +6 min

"It may just be lucky that a global demand slump or non-policy related domestic forces are driving inflation lower." This disconnect led the German central bank to issue a warning to peers this week that a tough task may still lie ahead for policymakers. "The impression took hold that inflation rates will nonetheless persist for longer above the rates targeted by central banks," the Bundesbank said. Indeed, longer-term inflation expectations for the U.S. and the euro zone remain above the banks' 2% targets. But even in the best case, weaker growth will reduce demand for imports and complicate the global outlook.

Persons: JACKSON, Steve Englander, Piet Haines Christiansen, Philip Lane, Lane, Niels Graham, Julian Evans, Pritchard, Balazs Koranyi, Dan Burns, Toby Chopra Organizations: Standard Chartered, The Bank of England, ECB, Reserve Bank of Australia, Reserve Bank of New, Danske Bank, U.S, People's Bank of, Atlantic Council, Capital Economic, Thomson Locations: , Wyoming, Jackson Hole , Wyoming, Britain, Australia, New Zealand, German, Europe, Reserve Bank of New Zealand, Jackson, People's Bank of China, China

☆ A key test for EV sales and the adoption curve is coming
▼ + stars: | 2023-07-30 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

The company says it will reach 400,000 cumulative units of EV production by early 2024 and that its EV business will reach profitability by 2025. "They have dozens of EV models over the next two to three years. watch nowAmong analysts who believe the stock is due for a bigger drop, expected EV sales disappointment is among the factors. But GM's EV plans come as Ford announced it is slowing down its plans to expand EV production to a 600,000 annual rate. "This will be the first year U.S. EV sales reach 1 million," Downey said.

Persons: Scott Mlyn, Brian Downey, Autotrader, Ford, Dan Ives, It's, they'll, Morgan Stanley, Adam Jonas, Mary Barra, Adam Jones, Colin Langan, Garrett Nelson, Chad Lyons, Lyons, Katie Minter, Rebecca Cook, Reuters Paul Jacobson, Jacobson, Ives, Downey, Tesla, Barra, they're, they've, Cox, Goodcarbadcar.net . Ford Organizations: Silverado, New York Auto Show, CNBC, General Motors, Cox Automotive, Kia, Porsche, Hyundai, Chevrolet Silverado, Wedbush Securities, Investors, GM, United Auto Workers union, Wall Street, Deutsche Bank, GMC Hummer EV, Chevy Silverado, GMC Sierra EV, Chevy Blazer, GMC, Blazers, Jaguar, Audi, North American, Reuters, EV, Cox, Ford's, Ford, Goodcarbadcar.net, Volkswagen, BMW – Locations: Detroit, Detroit , Michigan, U.S

☆ Explainer: What's behind China's failed 'truce' in EV price war?
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +5 min

[1/2] A Tesla Model 3 electric vehicle (EV) is displayed at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. Toyota (7203.T) offered a discount on its bZ4X EV, and Nissan (7201.T) offered an incentive on its Ariya EV. Volkswagen's (VOWG_p.DE) joint ventures with SAIC and FAW also announced price cuts in China on their ID-series EVs on Friday. AlixPartners said while China's EV market will continue to grow rapidly, intensifying competition and excess capacity will also drive a shakeout. In one example, Chinese automakers have invested $1.4 billion in Thailand since 2020, now dominating the Thai EV market after taking share from the Japanese brands that have long operated there.

Persons: Florence Lo, Tesla, CAAM, Li Auto, Liu Xu, furloughs, AlixPartners, Zhang Yan, Kevin Krolicki, Tom Hogue Organizations: Tesla, Fair for Trade, Services, REUTERS, China Association of Auto Manufacturers, stoke, HK, Volvo, Chery Automobile, Global, Ford, Toyota, Nissan, EV, General Motors, Honda, Consultancy, Consumers, SAIC, GAC, Dongfeng, FAW Group, China's Ministry of Industry, Information Technology, FAW, National Strategy Institute of Tsinghua University, International, Hyundai, Thai EV, Thomson Locations: Beijing, China, Shanghai, Europe, Southeast Asia, Thailand, Singapore

☆ Investing in Space: Bankers and insiders say M&A action is heating up
▼ + stars: | 2023-06-15 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. CNBC's Michael Sheetz reports and curates the latest news, investor updates and exclusive interviews on the most important companies reaching new heights. The space sector has seen a variety of mergers and acquisitions since the start of the year, but the deal-making is only heating up. Meanwhile, one financier told me even Boeing is exploring options for its space business, and "everything's on the table." The markets and underlying technologies of space companies are often very different, and the reasons why one company sells or fails are often just as different from that of another.

Persons: CNBC's Michael Sheetz, Lockheed Martin, Boeing —, ULA, you've Organizations: CNBC, United, Alliance, Lockheed, Boeing, Ball Aerospace

☆ Dollar adrift as traders assess Fed options; Aussie buoyant
▼ + stars: | 2023-06-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

In the broader currency market, the U.S. dollar dipped in early Asia trade, as traders pared back their expectations of a rate hike at next week's FOMC meeting. Against the greenback, sterling rose 0.08% to $1.2432, while the kiwi gained 0.08% to $0.6084. "We don't think the FOMC will hike next week ... but risks again are skewed to the upside," said Kong. The U.S. dollar index slipped 0.03% to 104.05, while the euro rose 0.07% to $1.0698. CRYPTO SHAKEOUTIn the cryptoverse, bitcoin , the world's biggest cryptocurrency, was last marginally higher at $27,273, after jumping nearly 6% on Tuesday.

Persons: Philip Lowe, Carol Kong, Lowe, CRYPTO, Coinbase, Binance, Changpeng Zhao, Tony Sycamore, Rae Wee, Shri Navaratnam Organizations: Federal Reserve, Australian, Reserve Bank of Australia's, Commonwealth Bank of Australia, U.S, Fed, The U.S, European Central Bank, U.S . Securities, Exchange Commission, SEC, IG Markets, Thomson Locations: SINGAPORE, Asia, U.S, The, Turkish

☆ California’s Homeowner Insurance Shakeout Is About Interest Rates, Too
▼ + stars: | 2023-06-03 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Analyst likes these 4 EV stocks — and says one is 'head and shoulders' above others
▼ + stars: | 2023-05-18 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

The electric vehicle market is still a "long way" from a shakeout, according to consulting firm Sino Auto Insights. China's EV market has been roiled by Tesla 's aggressive price cuts and the country's government ended subsidies for EV buyers. But Sino Auto Insights' managing director, Tu Le, is still bullish on EV giant Tesla and its Chinese counterpart BYD. "BYD has still been able to be head and shoulders above everyone else, and not only in the Chinese market, but they're the number one brand for EVs in Israel and Thailand," he said. Other bright spots Tu acknowledges that Tesla and BYD are the EV market's top two players, but sees promise in some emerging ones.

☆ Premarket stocks: Why a US recession is probably coming
▼ + stars: | 2023-05-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

That would catapult the United States into recession during the second half of 2023 (Europe and the UK will feel it even earlier). It’s possible that the economy sees disinflation in a way that it hasn’t in previous cycles.”Has the gig economy peaked? So is the height of the gig economy behind us? “It hasn’t changed anything about the odds of a recession,” the chief executive said in response to a question from CNN during a press call. “Down the road, rates going way up, real estate, recession — that’s a whole different issue.

Several analysts, industry executives and investors said they believe the March banking crisis has set conditions for a long-predicted round of industry consolidation to finally happen. We've also been approached by some big bulge bracket banks that are also looking to acquire the regional banks." Some bank deals have been stuck for months waiting for approvals. And Monday's deal shows larger banks with deeper pockets are better placed than mid-sized lenders, according to Jefferies analysts. "This may have precluded other regional bank bidders from making the math work as well as it does for JPM," they wrote.

☆ What Bed Bath & Beyond, Toys ‘R’ Us and RadioShack have in common
▼ + stars: | 2023-04-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Staples is “a classic ‘category killer,’ like Toys R Us,” Mitt Romney, then Bain & Co.’s managing general partner, said in 1989. Another category killer fell this week, when Bed Bath & Beyond filed for bankruptcy. Once the go-to stop for everything in customers’ homes, Bed Bath & Beyond was brought down by shopping changes, competition and its own missteps. Founded in 1971 as Bed ‘n Bath as a small linen and bath store, the company changed its name to Bed Bath & Beyond in 1987 to reflect its expanded merchandise selection and built larger superstores. It’s somewhat ironic that there is now nostalgia for Bed Bath & Beyond and other once dominant chains that drove mom-and-pops out of business.

☆ Bed Bath & Beyond files for bankruptcy
▼ + stars: | 2023-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Chris Hammons unloads a bag of items she purchased at a Bed Bath & Beyond store in Dallas, Texas September 23, 2009. In its bankruptcy filing, Bed Bath & Beyond said it had $5.2 billion in debt and assets of just $4.4 billion. Discount chains such as HomeGoods and TJ Maxx have also undercut Bed Bath & Beyond’s prices. Without the differentiators of the lowest prices or widest selection, Bed Bath & Beyond’s sales stagnated from 2012 to 2019. And Bed Bath & Beyond is the latest retail chain to file for bankruptcy this year.

Organizations: & $

☆ Everyone was wrong about how the pandemic would change shopping — here's how experts are betting on e-commerce now
▼ + stars: | 2023-04-19 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

The idea that e-commerce will keep growing forever, and betting on it will lead to an almost inevitable rising tide, didn't survive the pandemic. Public flame-outs of entire categories of startups, like ultra-fast deliveries and Amazon seller aggregators, have further demonstrated the boom-and-bust nature of pandemic e-commerce investing. Apple's recent moves to give consumers more online privacy has had ripples through the e-commerce ecosystem, leading investors to take a beat. E-commerce logistics — fulfillment and last-mile delivery — said Sloane is fairly well-saturated at this point, he said. For many retailers, the pandemic offered a harsh lesson in how integrated their stores and their websites weren't, she said.

☆ Pharmacy startups are losing their battle with giants like CVS and Walgreens
▼ + stars: | 2023-03-28 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +12 min

Pharmacy startups like Capsule and Truepill are crumbling in the fight against pharmacy giants. But in the past year, the pharmacy startups have begun to crumble. Plus, each chain has thousands of stores across the country, providing the convenience that the pharmacy startups seek to replicate with tech. The digital-pharmacy shakeoutAnalysts suggested that healthcare startups with pharmacy components, rather than pure-play pharmacy startups, are best positioned to succeed. Truepill CEO Sid Viswanathan TruepillBut the pharmacy startups that have attempted to offer additional services have largely shelved those efforts in recent months.

☆ Swiss CoCo shakeout may yet help bank regulators
▼ + stars: | 2023-03-22 | by ( Neil Unmack | ) www.reuters.com time to read: +3 min

LONDON, March 22 (Reuters Breakingviews) - Switzerland’s forced merger of Credit Suisse (CSGN.S) with UBS (UBSG.S) has caused a real stink. European regulators on Monday mobilised to calm debt investors after Swiss authorities chose to write off 16 billion Swiss francs of Credit Suisse’s Additional Tier 1 CoCos. Both the Bank of England and European regulators pledged on Monday to respect the bank rescue hierarchy that says shareholders should lose money before debt. A case in point: only last year the already creaking Credit Suisse chose to redeem a bond. Follow @Unmack1 on TwitterCONTEXT NEWSPrices of contingent capital securities, a kind of junior ranking loss-absorbing bank debt, fell after bonds issued by Credit Suisse were wiped out following its takeover by UBS.

☆ Gold poised for best week since mid-November on banking sector tension
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose on Friday, buoyed by a weaker dollar, and were poised for their biggest weekly gain since mid-November as the global banking crisis sent investors flocking to the safe-haven metal. U.S. gold futures rose 0.5% to $1,932.10. Large U.S. banks injected $30 billion in deposits into First Republic Bank on Thursday to rescue the lender caught up in a widening banking crisis. But the European Central Bank raised interest rates by 50 basis points on Thursday, as concerns over high inflation outstripped fears of a global banking crisis. All three metals were bound for weekly gains, with silver set for its best week since early December.

☆ Gold poised for best week since mid-Nov on banking sector tension
▼ + stars: | 2023-03-17 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

Spot gold was up 0.5% at $1,928.08 per ounce, as of 0313 GMT. U.S. gold futures rose 0.5% to $1,932.10. But the European Central Bank (ECB) raised interest rates by 50 basis points on Thursday, as concerns over high inflation outstripped fears of a global banking crisis. The dollar index was down 0.2%, making gold more attractive to buyers holding other currencies. All three metals were bound for weekly gains, with silver set for its best week since early December.

Despite SVB's demise knocking the value of banks globally, particularly European lender Credit Suisse, U.N. climate envoy Mark Carney said he, too, did not expect a "material" impact on climate tech funding. "At a minimum, this will likely drive continued tightening of investments and a push to have their portfolio companies cut (cash) burn," it said in a note. Mona Dajani, partner at law firm Shearman and Sterling, said most of her clean energy clients either banked with SVB or faced some other impact from its troubles. SVB "cultivated a reputation as being very friendly to clean energy... they were willing to underwrite more risk," she said. "Not all the companies are going to make it and now that’s happening to climate companies."

☆ Fear over bank turmoil sparks flight to safe haven currencies
▼ + stars: | 2023-03-16 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

SINGAPORE, March 16 (Reuters) - Safe haven currencies like the U.S. dollar and the yen were in bid on Thursday on renewed fears of a global banking crisis, after contagion from the implosion of U.S.-based Silicon Valley Bank had spread across the Atlantic to Swiss bank Credit Suisse. The yen jumped about 0.5% in early Asia trade and last stood at 132.73 per dollar, extending Wednesday's 0.6% gain. "Given the elevated uncertainties and concerns about broader financial contagion, the dollar, as well as the yen, will be the main beneficiaries because of safe haven demand." The European Central Bank meets later on Thursday and is due to announce its interest rate decision following the meeting. "It will definitely be a tough call for any major central bank to stick with its tightening path."

☆ Cautious calm returns to bank stocks as focus shifts to regulation
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +5 min

Focus is also shifting to the possibility of tighter regulation in the U.S. banking sector, particularly for mid-tier banks like SVB (SIVB.O) and New York-based Signature Bank, whose collapses last week roiled financial markets. Investors had been particularly concerned about the huge bond holdings, particularly in U.S. Treasuries, of Japanese lenders. However, Japanese finance minister Shunichi Suzuki said on Wednesday differences in the structure of bank deposits, meant local banks wouldn't face incidents similar to SVB's collapse. In an attempt to avert a similar crisis down the line, the Federal Reserve is also considering tougher rules and oversight for midsize banks similar in size to SVB. "A year after starting to raise interest rates, the Federal Reserve is still chasing evidence that higher borrowing costs are slowing the U.S.

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