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☆ Europe’s recession may not be as bad as feared
▼ + stars: | 2023-01-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

On Wednesday, France’s statistics institute said consumer price inflation was 5.9% in December, down from 6.2% in November. A drop in energy prices drove the decline, the institute said. In Germany, Europe’s biggest economy, provisional data released on Tuesday showed that inflation had fallen to 8.6% in December, from 10% the month before. “If we are seeing a continued flight to value, then the relative cheapness of European stocks is a big plus,” he said. Benchmark prices for European natural gas futures have tumbled 10% since Monday to €69 ($73) per megawatt hour.

The Chinese government increased export quotas for refined oil products in the first batch for 2023, signalling expectations of poor domestic demand. read more"The market remains worried about the impact of macro factors such as the economic downward pressure," said analysts from Haitong Futures. Lending oil some support, the dollar weakened on Wednesday after posting big gains in the previous session. A weaker dollar typically boosts demand for oil as dollar-denominated commodities become cheaper for holders of other currencies. U.S. crude oil stockpiles likely rose 2.2 million barrels, with distillate inventories also seen down, a preliminary Reuters poll showed on Monday.

☆ Asian stocks in 2022 suffer biggest foreign outflows since 2008 global crisis
▼ + stars: | 2023-01-04 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

Jan 4 (Reuters) - Foreign investors withdrew more money from emerging Asian equities in 2022 than they had done in any year since the global financial crisis in 2008, as rising U.S. interest rates pulled funds towards dollar assets. Data from stock exchanges in Taiwan, India, the Philippines, Vietnam, Thailand, Indonesia and South Korea showed foreigners sold equities worth $57 billion last year, the biggest outflow since 2008. Taiwanese equities faced outflows worth $41.6 billion last year, leading the regional sales, while India and South Korea witnessed an outgo of $15.4 billion and $9.6 billion, respectively. Yearly foreign investment flows: Asian equitiesHit by falling foreign demand and a worsening economic outlook, the MSCI's Asia Pacific index (.MIWD00000PUS) plunged 19.4% last year - the biggest fall since dropping 43.3% in 2008. On the flip side, India, Vietnam and Thailand received net inflows of $1.36 billion, $559 million and $372 million, respectively, in December.

☆ US Army general retires without 'reprimand or admonishment' after spat over Tucker Carlson segment about women in the military
▼ + stars: | 2023-01-03 | by ( Steve Beynon | ) www.businessinsider.com time to read: +8 min

"I retired honorably and without any reprimand or admonishment," Donahoe told Military.com in an interview. Military.com interviewed multiple women Donahoe frequently engaged with on Twitter, none of whom described his behavior as inappropriate. Multiple senior service officials and rank-and-file troops interviewed by Military.com blasted the Army's slow response, saying it suggested women serving at all is inherently political. "So let me be clear: I expect [Army] leaders to stand up for women — and all Soldiers — who are unduly attacked or disrespected." Related: 'The Army Gave a Hunting Permit to Radical Partisans': What a General's Bout with Fox Could Mean for Women

☆ How many Instagram followers you need to start making money
▼ + stars: | 2022-12-30 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +2 min

But at what point — and with how many followers — can an influencer start making money? With a few thousand followers on Instagram these days, it's easy to ask yourself: When can I start making money doing this? For instance, Tess Barclay, a Toronto-based nano influencer who creates lifestyle content, started earning money with a few thousand Instagram followers in 2021. Meanwhile, may other influencers start making money by earning a commission from sales via affiliate marketing. While the doors have opened for many more creators on Instagram to start making a living, often they don't start making full-time incomes immediately (although a fair number of micro influencers with under 100,000 followers work full-time as influencers).

☆ Oil trims losses as softer dollar offsets Chinese demand fears
▼ + stars: | 2022-12-29 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, Dec 29 (Reuters) - Oil prices pared losses after falling by over $2 earlier in the session, as a weaker dollar partially offset demand fears resulting from surging COVID-19 cases in China. U.S. West Texas Intermediate crude futures fell $1.07, or 1.36%, to $77.89 a barrel, after reaching session lows of $76.79. A weaker dollar makes oil cheaper for holders of other currencies and can boost demand. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap.

☆ Oil falls as China COVID spike dampens demand outlook
▼ + stars: | 2022-12-29 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, Dec 29 (Reuters) - Oil prices fell by over 2% on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap. Germany said the ban has "no practical significance" as the country has been working since spring to replace Russian oil supplies and ensure security of supply. Russian oil pipeline operator Transneft said Kazakhstan's KazTransOil had requested an additional 1.2 million tonnes of capacity on the Druzhba pipeline for 2023 to facilitate extra oil shipments to Germany, the RIA Novosti news agency reported.

SINGAPORE, Dec 29 (Reuters) - Oil prices dipped on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer. Brent futures for February fell 26 cents, or 0.3%, to $83.00 a barrel by 0430 GMT, while U.S. crude fell 26 cents, or 0.3%, to $78.70 a barrel. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. However, that comes as an Arctic freeze has forced some oil refining facilities offline, backing up crude supplies. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap.

☆ European markets head for positive open as upbeat sentiment continues
▼ + stars: | 2022-12-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

LONDON — European stocks are expected to open higher on Tuesday as positive sentiment continues in the final trading days of 2022. Germany's DAX is seen opening 98 points higher at 14,036, France's CAC 40 up 44 points at 6,549 and Italy's FTSE MIB up 159 points at 24,033, according to IG. The U.K.'s FTSE index is closed Tuesday for a public holiday. Stateside, U.S. stock futures rose on Monday night as investors looked to see whether a Santa Claus rally will appear before year-end. Markets were closed Monday for the Christmas holiday.

☆ There's no individual stock that leaps out to investors, says IG North America CEO
▼ + stars: | 2022-12-23 | 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 EmailThere's no individual stock that leaps out to investors, says IG North America CEOJJ Kinahan, IG North America CEO, joins CNBC's 'Squawk Box' to discuss markets and the state of the retail trader ahead of the open.

☆ Asian shares slide as fears over hawkish Fed mount
▼ + stars: | 2022-12-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, Dec 23 (Reuters) - Asian shares eased on Friday, tracking a dive on Wall Street, while the dollar firmed as strong U.S. data revived fears the Federal Reserve will have to retain its hawkish stance to tame inflation. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slid 0.69%, snapping a two-day winning streak. Australia's S&P/ASX 200 index (.AXJO) lost 1.01%, while Japan's Nikkei (.N225) opened 1% lower. The data from the United States "flamed fears that further monetary policy tightening in 2023 will be necessary to cool inflation," said Tony Sycamore, a market analyst at IG. The dollar index , which measures the greenback against six other currencies, fell 0.057% to 104.32.

☆ Republican senators propose overhaul of Federal Reserve amid concerns about politics
▼ + stars: | 2022-12-21 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

Among its provisions, the bill would also shrink the 12 regional Fed banks to five. Regional Fed leaders contribute to monetary policy debates, gather local economic intelligence and vote on interest rate decisions on a rotating basis. The structure of regional Fed banks has long made reformers, both on the left and right, uncomfortable. Leaders of these regional Fed boards are chosen by their private boards, although they must be approved by the board in Washington before taking office. In contrast, the Fed in Washington, which oversees the regional Fed banks, is explicitly part of the government.

☆ Elon had to choose between Twitter and Tesla. He's choosing Tesla.
▼ + stars: | 2022-12-19 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Elon Musk has been forced to make a tough choice: Tesla or Twitter. He's picking Tesla, which represents nearly half his $156 billion in estimated wealth, and the Twitter poll gave him a handy escape pod. That red ink wasn't as much of a problem when interest rates were low, and Tesla's shares were soaring. But as the Federal Reserve has aggressively hiked interest rates to curb inflation, using Tesla stock to pay off the debt on the Twitter buyout is a problem for Tesla. "Tesla is so much an Elon stock, it stands or falls because of him," Beauchamp said.

The sale is the second big chunk of stock he has cashed out since his $44 billion purchase of Twitter in October. I've spoken to a lot of investors who have Tesla shares and they're absolutely furious at Elon." There was no immediate response to a Reuters request for comment from Tesla and from Musk emailed outside business hours. The value of Musk's total selling over the past year comes to nearly $40 billion. Tesla investor Ross Gerber, a strong supporter of Musk, said on Twitter that Tesla should announce a buy back "to take advantage to (sic) the low share price Elon has created."

[1/2] A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. An investor in Wood Group (WG.L), an oilfield services company, urged the company to buy back some of its own shares to avoid being a target. The domestically-focused FTSE 250 (.FTMC) is down by almost a fifth this year while the internationally-focused blue-chip FTSE 100 (.FTSE) is up 0.8% thanks to a drop in the pound. A currency advantage alone does not necessarily kick-start deals though, according to Owain Evans, co-head of UK M&A for Goldman Sachs. "Large corporates continue to look at 'bolt-ons', where they can draw on existing facilities to do those deals, that's why the mid-cap space is attractive to the strategics in this environment," said Celia Murray, head of UK M&A at JPMorgan.

☆ FDA needs to do better at policing online tobacco retailers, new report says
▼ + stars: | 2022-12-09 | by ( Jen Christensen | ) edition.cnn.com time to read: +6 min

CNN —The US Food and Drug Administration is falling down on the job of policing online tobacco retailers, according to a highly critical new report from the US Department of Health and Human Services’ Office of Inspector General. “It is unclear to what extent FDA conducted additional oversight of these online tobacco retailers at later dates and found subsequent violations that could result in FDA taking enforcement actions,” the report says. While it can be difficult to police online retailers due to the sheer volume and the internet’s “wild West” nature, as one FDA official described it in the report, it says the FDA could do better by collaborating more closely with ATF on the oversight of these online retailers. The report recommends that the FDA finish making rules about online sales, as it was supposed to do years ago, and collect data about its oversight of online retailers. What stood out to Sward in the report was the FDA’s lack of follow-up beyond warning letters to online retailers.

☆ Druski on staying 'that number one go-to guy for comedy,' and business advice from Drake
▼ + stars: | 2022-12-09 | by ( John Lynch | ) www.businessinsider.com time to read: +13 min

Like I just can't imagine falling off or having a short career, or just not being that number one go-to guy for comedy, you know? And yeah, he's ... bro, that dude has mastered ... [laugh], like, the art of everything, you know? And yeah, he's just such an inspiration, and it's great to have him as a friend. Oh yeah, definitely. So it's like, y'all can't no longer say it don't equivilate to real money, 'cause, hey, look at us know, you know I'm saying?

☆ Oil rebounds on optimism over China's revamp of COVID protocols
▼ + stars: | 2022-12-08 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

Brent crude futures rose $1 or 1.3% at $78.17 per barrel by 0750 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained $1 or 1.4% to $73.01 per barrel. Brent settled on Wednesday below the year's previous closing low touched on the first day of 2022, while U.S. West Texas Intermediate crude fell to its lowest for the year. While U.S. crude stocks fell last week, gasoline and distillate inventories surged, adding to concerns about easing demand. Gasoline stocks grew by 5.3 million barrels in the week to 219.1 million barrels, and distillate stockpiles, including diesel and heating oil, swelled by 6.2 million barrels, the Energy Information Administration said on Wednesday. U.S. crude production also trended higher, rising to 12.2 million barrels per day last week, its highest level since August, the EIA said.

SINGAPORE, Dec 8 (Reuters) - Oil prices rebounded in Asian trade on Thursday after slumping to their lowest level this year in the previous session, though concerns of economic slowdowns weakening fuel demand continued to cap gains. He added that worries about demand would remain a key overhang for oil prices, while positive catalysts including the supply-demand imbalance and China's reopening hopes have been short-lived. While U.S. crude stocks fell last week, gasoline and distillate inventories surged, adding to concerns about easing demand. Helping to lift oil prices was data showing that Japan's economy shrank less than initially estimated in the third quarter. read moreLoosening COVID-19 restrictions in China, among the biggest crude oil consumers in the world, also aided in steadying oil prices.

☆ Europe's BNP Paribas appoints senior executives to Global Markets Americas division
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - BNP Paribas SA (BNPP.PA) has appointed several senior executives to its Global Markets Americas division, the European bank said on Wednesday, in a move to further consolidate its presence in the United States. The French bank appointed former Morgan Stanley executive Kunal Maini as the co-head of Global Macro - Americas and he will be responsible for globalizing the US Rates franchise. In addition, BNP also hired a string of executives to strengthen its credit portfolio at a time when global fixed income markets have come under immense pressure from soaring inflation and outsized interest rate hikes. John Hanisch was appointed the co-head of Secondary Credit Americas and Global Head of Securitized Products Trading; Charlie Shah the Head of IG & CDS Trading Americas and Bo Bazylevsky the Head of LatAm Flow Credit Trading. BNP's move to hire across divisions sharply contrasts global banks including HSBC Holdings PLC (HSBA.L) and Goldman Sachs (GS.N), which axed jobs to rein in costs.

☆ Tesla's German gigafactory is in 'total chaos' due to staff shortages, report says
▼ + stars: | 2022-12-07 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

Tesla is struggling to recruit and retain enough staff at its German gigafactory, Wired reported. The Berlin plant is falling behind on production goals, leaving it in "total chaos," per the report. One worker told Wired: "Many people are signed off sick because the motivation isn't there." One anonymous worker told the publication that the plant was in "total chaos" due to staffing issues. Union representatives told Wired that Tesla's recruitment and retention problems reflected the company's reputation as an unattractive employer in Germany's heavily-unionized automotive sector.

☆ Days after the EU's $60/barrel price cap kicked in, oil prices slump to pre-Ukraine war levels over economic uncertainty
▼ + stars: | 2022-12-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Oil futures slumped Tuesday to levels not seen before Russia invaded Ukraine. They reduced their net long positions in Brent oil by about one-third in the week to last Tuesday. In early Asian trade on Wednesday, US WTI oil futures were down 0.3% at $74.05 a barrel, while international Brent crude oil futures were 0.1% lower at $79.29 a barrel. Oil market sentiment has been on a roller-coaster ride lately. However, the price cap on Russian crude continues to spark uncertainty in the oil markets.

☆ National security concerns reportedly delay TikTok-U.S. deal
▼ + stars: | 2022-12-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

The government has yet to come back with TikTok with new requests on how to address the concerns, the Journal reported based on unnamed sources. TikTok confirmed it has not received an update from the government about any unresolved concerns. The two sides had reached broad agreements about storing U.S. user data on Oracle servers in the U.S., the Journal reported, moving it from TikTok data centers in Virginia and Singapore. U.S. officials and lawmakers have been vocal about their security concerns with TikTok. Cowen analysts wrote Wednesday that Meta's Reels, short-form videos similar to those on TikTok, "would be the biggest beneficiary" of a TikTok ban, followed by YouTube's Shorts.

“After the Infowars interview, we were disgusted by his behavior,” CalmYe said. “We didn’t want to give a platform to what he’s saying anymore.”After the Infowars interview, we were disgusted by his behavior. The subreddit became increasingly difficult to moderate, and Ye’s praise of Hitler was the tipping point. CalmYe said most fans seem “disgusted” with Ye’s recent behavior, and this latest interview caused many to ditch the artist for good. Other Ye-focused creators have tried to steer their followings through the aftermath of the Infowars interview.

☆ Gold regains some ground as dollar dips
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices edged up on Tuesday, helped by a slight pullback in the U.S. dollar, which makes the greenback-priced bullion less expensive for buyers holding other currencies. Bullion dropped from a five-month high to close 1.6% lower as the dollar rebounded after the data prompted speculation the Fed may lift interest rates more than recently projected. Higher interest rates tend to weigh on gold's appeal as they increase the opportunity cost of holding the non-yielding metal. The European Central Bank is also likely to raise interest rates by 50 bps next week amid ongoing inflationary concerns, governing council member Gabriel Makhlouf said on Monday.

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