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☆ Inflation expectations and wage growth are at top of the Fed's list right now: Moody's Mark Zandi
▼ + stars: | 2023-11-10 | 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 EmailInflation expectations and wage growth are at top of the Fed's list right now: Moody's Mark ZandiMark Zandi, Moody’s Analytics chief economist, joins 'Squawk on the Street' to discuss Powell's latest comments impact on the markets, metrics the Fed could be watching to raise rates again, and more.

Persons: Mark Zandi Mark Zandi

☆ Moody's changes U.S. outlook to negative, affirms AAA rating
▼ + stars: | 2023-11-10 | 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 EmailMoody's changes U.S. outlook to negative, affirms AAA ratingCNBC's Steve Kovach joins 'Closing Bell Overtime' to talk the latest Moody's rating on the U.S government.

Persons: Steve Kovach

☆ Sofia Coppola, “Priscilla” and the Art of the Alluring Sad Girl - The New York Times
▼ + stars: | 2023-11-10 | by ( Emily Yoshida | ) www.nytimes.com time to read: +3 min

But by then she was well positioned to occupy the rarefied worlds of alternative film, fashion and music, insulated from snarky criticism and the crassness of commercial demands. I don’t see the presence of these rarefied worlds — either in her biography or as depicted on the screen — as a shortcoming. Arguably, Ms. Coppola is exceptional as an artist because nobody among her contemporaries succeeds in preserving that pristine air the way she does, especially when used to embody an explicitly feminine worldview. There may be a rebelliousness in this stillness, and a romance — of taking up things and pondering them in your heart. But on the most basic level, what Ms. Hirschberg described as a strength is a tendency to abstain, to not do something — a tendency shared by many of Ms. Coppola’s protagonists.

Persons: Eleanor, Ms, Coppola, Mary Corleone, she’s, you’ve, Luke, I’ve, hosannas, Mary, Lynn Hirschberg, Sofia Coppola’s, ”, Hirschberg, Elvis Presley Locations: Bethlehem

☆ China's consumer prices dip back into decline amid limp demand
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Nov 9 (Reuters) - China's consumer prices swung back into contraction and factory-gate deflation persisted in October as domestic demand struggled, weighing on the outlook for any broader-based recovery in the world's second-largest economy. The headline figure was dragged by a further slump in pork prices, down 30.1%, speeding up from a 22% slide in September, amid an oversupply of pigs and weak demand. Consumer prices slipped into deflation in July and returned to positive territory in August but were flat in September. "The data shows combating persistent disinflation amid weak demand remains a challenge for Chinese policymakers," said Bruce Pang, chief economist at Jones Lang Lasalle. "We expect China's economy to grow by 5.0% in 2023, in accordance with the target set by authorities, followed by 4.0% growth in 2024 and 2025," said Moody's on Thursday.

Persons: China's, Bruce Pang, Jones Lang Lasalle, Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: National Bureau of Statistics, Jones, Authorities, Thomson Locations: BEIJING, China, Beijing, West

☆ More junk-rated companies downgraded than upgraded in October -JPM
▼ + stars: | 2023-11-09 | by ( Matt Tracy | ) www.reuters.com time to read: +1 min

REUTERS/Rick Wilking/File Photo Acquire Licensing RightsNov 9 (Reuters) - More U.S. high-yield bond issuers saw downgrades to their credit ratings than upgrades last month, JPMorgan (JPM.N) said in a research report. October saw downgrades to 18 junk bond issuers' ratings accounting for $22.2bn in debt, while just 16 issuers were given upgrades by ratings agencies, the JPMorgan report said. This is the first time downgrades have surpassed upgrades on U.S. junk-rated borrowers in four months, it added. Changes to credit ratings are significant for a company, since lower ratings most often result in higher borrowing costs. While high-grade companies' credit ratings have proven resilient during the Federal Reserve's interest-rate hikes, businesses with significant leverage and floating-rate debt have struggled to keep pace with rising debt-servicing costs.

Persons: Rick Wilking, downgrades, Matt Tracy, Alexander Smith Organizations: REUTERS, U.S, JPMorgan, Moody's, Service, Thomson Locations: Westminster , Colorado

[1/2] A woman shops for groceries at El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. The U.S. banking sector was in turmoil in the spring as Silicon Valley Bank abruptly collapsed after grappling with large amounts of unrealized losses spurred by rapidly rising interest rates. She said reinflation was a risk, especially if banks do not correctly anticipate interest rate moves and adjust their portfolios appropriately. That led to unrealized losses across the sector coming under closer scrutiny. Global banking and securities regulators are also still grappling with the fallout from the collapse of Credit Suisse Group (CSGC.UL).

Persons: Sarah Silbiger, Ana Arsov, Arsov, reinflation, ” Arsov, Tim Wennes, Paul Servais, Paritosh Bansal Tatiana Bautzer, Megan Davies, Lisa Shumaker, David Gregorio Our Organizations: El Progreso Market, Washington , D.C, REUTERS, Reuters, Banco Santander, Global, Credit Suisse Group, UBS, Jean, International Organization of Securities Commissions, Financial, Swiss, Thomson Locations: Mount Pleasant, Washington ,, U.S, SVB

☆ Biden’s economic scorecard touts fragile advantage
▼ + stars: | 2023-11-09 | by ( Ben Winck | ) www.reuters.com time to read: +11 min

And if the political strategist James Carville was right that “it’s the economy, stupid,” the next several months could make or break Joe Biden’s economic record. As things stand, the current ruler of the free world touts a fragile advantage. Households’ disposable income after adjusting for inflation hit a record $20 trillion in the month that Biden’s measure was approved, according to the Bureau of Economic Analysis. STUDENT LOANSForgiving swaths of student debt was another of Biden’s campaign promises, but his efforts have so far failed. And with higher interest rates making debt service more expensive, Biden’s spending could come back to bite him on election day.

Persons: Joe Biden, Ken Cedeno, James Carville, Joe Biden’s, “, aren’t, Breakingviews, it’s, Biden, Donald Trump, Mitch McConnell, ”, Realtor.com, Congressional Republicans haven’t, haven’t, WALL, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Edmond's Catholic, REUTERS, Rights, Reuters, House, Republican, AMERICAN, ACT, Brookings Institution, Analysis, Walmart, Nordstrom, Deere, Caterpillar, Republicans, Commerce Department, Micron, Bank of America, Gallup, Federal Reserve, United Auto Workers, RSM, Congressional Republicans, Biden, Reuters Graphics Reuters, Conservative, Thomson Locations: St, Rehoboth Beach , Delaware, U.S, New York, Arizona, West Virginia

☆ Nikola Jokic, Nuggets emerge with tight win over Warriors
▼ + stars: | 2023-11-09 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/50] Nov 8, 2023; Denver, Colorado, USA; Denver Nuggets head coach Michael Malone addresses the media before the game against the Golden State Warriors at Ball Arena. Mandatory Credit: Isaiah J. Downing-USA TODAY Sports Acquire Licensing RightsNovember 9 - Nikola Jokic produced 35 points and 13 rebounds, Reggie Jackson scored 20 points and the host Denver Nuggets beat the Golden State Warriors 108-105 on Wednesday night. Jokic missed two free throws with 15 seconds to go, but Curry's layup with five seconds left was off, forcing the Warriors to foul. Golden State went on a 10-4 run to get within 63-59, and the Warriors stayed close throughout the period. Jackson-Davis' two free throws gave the Warriors a 78-76 lead heading into the fourth.

Persons: Michael Malone, Isaiah J, Downing, Nikola Jokic, Reggie Jackson, Michael Porter Jr, Aaron Gordon, Kentavious Caldwell, Pope, Stephen Curry, Klay Thompson, Andrew Wiggins, Looney, Jonathan Kuminga, Moses Moody, Draymond, Gary Payton II, Jamal Murray, Jokic, Jackson, Chris Paul, Porter, Trayce Jackson, Davis, dunked, Curry, Caldwell, Justin Holiday Organizations: Denver Nuggets, Golden State Warriors, Ball, USA, Denver, Warriors, Golden State, The Warriors, Jackson, The Nuggets, Thomson Locations: Denver , Colorado, USA, Golden

That includes Ohio, where voters Tuesday enshrined abortion access in the state constitution. Opponents want to ban abortion throughout pregnancy. The state Supreme Court in 2019 upheld a lower court decision that there is a right to abortion in the state constitution. ___NEBRASKAAbortion rights advocates have submitted language to Nebraska' secretary of state for a ballot question that would expand abortion access. In the third trimester, the state could ban abortion — except when it's needed to save the woman's life.

Persons: Roe, Wade, Ron DeSantis, General Ashley Moody, State Jay Ashcroft, Ashcroft, ___, it's, Jay Inslee Organizations: Ohio, U.S, Supreme, Democratic, ___, Republican Gov, Republican, Republicans, ___ MARYLAND Lawmakers, State, ___ NEVADA Voters, ___ SOUTH DAKOTA Voters, WASHINGTON Democratic Gov, Associated Press Locations: Ohio, Maryland, New York, ARIZONA, ___ COLORADO Colorado, Colorado, ___ FLORIDA, Florida, IOWA, Iowa, MISSOURI, Missouri, ___ NEBRASKA, Nebraska, PENNSYLVANIA, ___, South Dakota

With the economy slowing and adding fewer jobs, banks are anticipating more consumers could default on credit-card payments and mortgages, hurting profits. "(Canadian banks) are running a little bit tighter in capital than they have in the past," said Adrienne Young, director of corporate credit research at Franklin Templeton Canada. "I don't see them having to go out and raise equity... I think the banks will use other tools in their toolbox before having to go and raise equity," said Maria Gabriella Khoury, analyst at credit-ratings agency Fitch. "They are doing that.. to make sure banks are holding more capital as we potentially head into a downturn," Colangelo said.

Persons: Banks, Adrienne Young, Maria Gabriella Khoury, Fitch, Robert Colangelo, Colangelo, Anthony Visano, Nivedita Balu, Rod Nickel Organizations: TORONTO, Franklin Templeton, " Bank of Nova, Scotiabank, BMO, Equity, DSB, Royal Bank of Canada, RBC, HSBC Canada, Kingwest, Thomson Locations: Franklin Templeton Canada, " Bank of Nova Scotia, U.S, Toronto

Gloom over worse-than-expected export data offset any positive momentum from an upgrade to China's growth forecast by the International Monetary Fund. It raised its GDP growth forecast for 2023 to 5.4% from 5% but forecast that growth will slow next year. Earlier in the summer, a swift rise in Treasury yields sent the stock market reeling. High rates and yields hurt stock prices, slow the economy and raise the pressure on the entire financial system. In currency trading, the U.S. dollar edged up to 150.69 Japanese yen from 150.37 yen.

Persons: Joe Biden, Xi Jinping, Janet Yellen, Korea’s Kospi, Australia's, TripAdvisor Organizations: TOKYO, Economic Cooperation, White, Treasury, APEC, International Monetary Fund, Nikkei, Moody’s, Service, Big Tech, Dow Jones, Nasdaq, Emerson, Federal, Federal Reserve, New York Mercantile Exchange, Brent, U.S Locations: China, U.S, Asia, San Francisco, Shanghai, Japan, Israel

☆ Liquidity gridlock worsens in US commercial real estate sector
▼ + stars: | 2023-11-08 | by ( Shankar Ramakrishnan | Thomson Reuters | Shankar Ramakrishnan Has Nearly Years Of Financial Journalism Experience In Writing | ) www.reuters.com time to read: +5 min

And those workouts are becoming mathematically untenable even for private lenders. Borrowing costs for the CRE market have risen more than income, a situation prompted by the steepest jump in interest rates in decades. NO REAL OPTIONRising caution among private lenders will worsen the paucity of liquidity for property owners who have no real exit option. Some private lenders faced the risk of ending up paring their portfolios that were expensive to manage, he added. But the firm's head of commercial real estate economics Thomas LaSalvia said probability of a contagion effect was low.

Persons: Mike Comparato, Jeff Holzmann, Razmig Boladian, Claudia Faust, Alex Horn, Horn, Jay Hiemenz, Thomas LaSalvia, Shankar Ramakrishnan, Anna Driver Organizations: Realty Trust, RREAF Holdings, Rubicon Point Partners, Hawkeye Partners, Thomson Locations: Franklin, Texas

☆ What orange juice futures tell us about the state of our world
▼ + stars: | 2023-11-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Cocoa and orange juice futures have hit multi-decade highs as climate change and harsh weather takes their toll on crops in warmer climates. Here’s the latest in the commodities market:Orange juiceOrange juice futures have soared to their highest levels since the commodity began trading in 1966. The January contract for frozen concentrated orange juice is currently sitting around $3.95, up nearly 94% so far this year. The rally has led to a rise in speculative betting, leading some analysts to call orange juice futures the new GameStop. But “the eventual crash in the price of orange juice will be one for the record books,” he quipped.

Persons: Nicole, it’s, they’re, ”, Dave Reiter, It’s, Brent, David Morrison, stoking, That’s, WeWork, Nathaniel Meyersohn, Ermengarde Jabir, Alicia Wallace, “, Ted Rossman Organizations: CNN Business, Bell, New York CNN, OJ, Sunshine State, Futures, GameStop, Reiter Capital Investments, Cocoa, West Texas Intermediate, “ Traders, Trade Nation . Energy, Wheat, Organisation for Economic Co, Federal Reserve Bank of New, New York Fed Locations: New York, Ukraine, Orange, US, Brazil, Mexico, Florida, Ghana, Ivory Coast, Ivory, Chicago, Southeast Asia, Europe, China, Russia, America, United States

But they are going only as far as the safest bets in the junk category, bonds rated BB and B. Junk bond spreads, the additional interest rate investors demand over safe Treasury bonds, tightened sharply. The spreads of those rated BB and B, or the higher rungs of junk, had tightened 47-52 basis points last week, according to Informa Global Markets data. Four junk bond issuers – Bombardier (BBDb.TO), Venture Global LNG, Smyrna Ready Mix Concrete and InfraBuild Australia - announced bond offerings on Monday. The spotty access to bond markets does not bode well for poorly rated companies.

Persons: Rick Wilking, ”, Edward Marrinan, Peter Knapp, Winnie Cisar, bode, Morgan Stanley, Moody's, Manuel Hayes, Shankar Ramakrishnan, Paritosh Bansal, Andrea Ricci Organizations: REUTERS, Federal, Nikko Securities Americas, Investors, JPMorgan, Informa, CCC, Bombardier, Venture Global LNG, “, London, Insight Investment, Barclays, Thomson Locations: Westminster , Colorado, Smyrna, Australia

☆ WeWork’s bankruptcy could have a painful effect on cities
▼ + stars: | 2023-11-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

WeWork’s bankruptcy will increase financial stress on commercial landlords that have rented large chunks of their office buildings to the co-working company. About $270 billion in commercial real estate loans held by banks will come due in 2023, according to Trepp, a commercial real estate data provider. “This is another huge problem for the office market to contend with.”No single tenant can make or break the office market, he said. Around 42% of WeWork’s occupancies are in those three cities, according to CoStar, a commercial real estate data firm. Commercial real estate was hit hard by the pandemic, with fewer people returning to offices and spending money in downtown corridors.

Persons: WeWork, ”, Ermengarde Jabir, Goldman Sachs, Stijn Van Nieuwerburgh, Peter Morgan, ” Alie Baumann, can’t, “, ” Baumann, Van Nieuwerburgh Organizations: New, New York CNN, Silicon Valley Bank, Signature Bank, Columbia Business School, Cities, New York City’s Locations: New York, America, Silicon, New York City, San Francisco, Boston, New York City . New York, NYC, New, United States, Columbia

☆ Canary Wharf may yet avoid once-a-decade upheaval
▼ + stars: | 2023-11-06 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

LONDON, Nov 6 (Reuters Breakingviews) - Canary Wharf tends to have a new owner every decade. A recent 300 million pound equity injection implies they will buck the trend. Brookfield and the QIA, which own the estate’s developer Canary Wharf Group through a 50-50 partnership, ostensibly look to be backing a losing horse. Factoring in all its assets on the Canary Wharf estate, Brookfield as of September valued it all at $6.1 billion, or 5 billion pounds – over 2 billion pounds more than what the duo put in eight years ago. Canary Wharf could be owned by highly leveraged, shallow-pocketed types.

Persons: –, Paul Reichmann’s Olympia, Morgan, Breakingviews, dory, George Hay, Oliver Taslic Organizations: Reuters, HSBC, HK, London Docklands, Qatar Investment Authority, Canary, York, Morgan Stanley, Jefferies, Reuters Graphics Reuters, Brookfield, Wharf Group, Thomson Locations: Brookfield, –, CWG, City, Wharf

☆ Moody's creates private credit rating and research group
▼ + stars: | 2023-11-06 | by ( Tatiana Bautzer | Thomson Reuters | Tatiana Bautzer Is A U.S. Banking Correspondent At Reuters In New York. She Previously Covered Banks In Brazil | ) www.reuters.com time to read: +1 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Nov 6 (Reuters) - Ratings agency Moody's (MCO.N) is creating a unit to research and rate private credit, the firm said on Monday. The global private credit market, with more than $1.3 trillion in assets under management, makes up about 12% of the alternatives market, investment firm BlackRock said in a recent report. Private credit is largely owned by buy-and-holdinvestors such as pension funds, endowments, foundations and insurance companies, the report said. "The rapid growth of the private credit market in recent years has introduced new challenges and opportunities for investors, who are looking for fresh analysis from a trusted source," said Moody's president Michael West. The private credit group will have a team of more than 50 analysts in different geographies looking into private credit in institutions such as business development companies, collateralized loan obligations, insurance and asset management companies.

Persons: Andrew Kelly, Ana Arsov, BlackRock, Michael West, Moody's, Arsov, Simon Harris, Tatiana Bautzer, Rod Nickel Organizations: Moody's Corporation, REUTERS, Moody's Investors Service, Thomson Locations: Manhattan , New York, U.S

☆ War with Hamas to cost Israel above $50 billion, Calcalist reports
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

Palestinians search for casualties, at the site of Israeli strikes on houses, amid the ongoing conflict between Israel and Palestinian Islamist group Hamas, at the Magazi Refugee Camp, in central Gaza Strip, November 5, 2023. REUTERS/Mohammed Salem Acquire Licensing RightsJERUSALEM, Nov 5 (Reuters) - Israel's war with Hamas in the Gaza Strip will cost as much as 200 billion shekels ($51 billion), the Calcalist financial newspaper reported on Sunday, citing preliminary Finance Ministry figures. Calcalist described the ministry as deeming 200 billion shekels an "optimistic" estimate. Calcalist said half of the cost would be in defence expenses that amount to some 1 billion shekels a day. Another 40-60 billion shekels would come from a loss of revenue, 17-20 billion for compensation for businesses and 10-20 billion shekels for rehabilitation.

Persons: Mohammed Salem, Lebanon's, Calcalist, Bezalel Smotrich, Benjamin Netanyahu, Moody's, Fitch, Steven Scheer, David Evans Organizations: Hamas, REUTERS, Rights, Ministry, Lebanon's Hezbollah, Thomson Locations: Israel, Palestinian, Gaza, Iran, Yemen

☆ Analysis: WeWork's troubles darken outlook for embattled office market
▼ + stars: | 2023-11-03 | by ( Sinead Cruise | ) www.reuters.com time to read: +6 min

Backed by Japan's SoftBank, WeWork aimed to revolutionise the office market by taking long leases on large properties and renting the space to multiple smaller businesses on more flexible, shorter arrangements. Some leveraged property investors could struggle to earn enough rental income to service rising debt costs, they said. The number and volume of real estate loans due for refinancing in 2024 is unclear because many deals are struck privately between borrower and lender, Ed Daubeney, co-head, debt and structured finance, EMEA, at real estate services firm Jones Lang LaSalle, told Reuters. U.S. industrial and office real estate investment trusts (REITs) were seen 35.8% more likely to default, versus expectations a year ago. "We're at a massive turning point in the real estate investment market globally," Jose Pellicer, head of real estate strategy at M&G Real Estate, said.

Persons: Kate Munsch, Japan's SoftBank, WeWork, Jeffrey Havsy, Ed Daubeney, Jones Lang LaSalle, Savills, refinancings, What's, MSCI, Jefferies, Jose Pellicer, Sinead Cruise, Elisa Martinuzzi, Mark Potter Organizations: REUTERS, Media, Real Estate, Reuters, Analysts, Europe, Flex, BNP, G, Thomson Locations: San Francisco , California, U.S, York, New York, London, United States, Europe, Britain, Germany, California

A woman dressed up as a starving medical student. One woman dressed up as a medical student, holding a begging bowl in her hands. A woman dressed up as a liberal arts student hungry for egg fried rice. Greg Baker/Pool/ReutersTo address these challenges, President Xi Jinping hosted a key financial policy meeting this week to reiterate the need to resolve financial risks in the economy. “Hidden economic and financial risks are still widespread,” the readout said.

Persons: Hong Kong CNN —, ”, Zhou, Xiao Pan, Yan Ziqi, “, Xi Jinping, Greg Baker, Xi Organizations: Hong Kong CNN, CNN, Global, Stock, Huaan Securities, Service, National People's, of, People, Reuters, Communist Party, Ministry of State Security Locations: China, Hong Kong, China’s, Shanghai, Weibo, Douyin, “, Beijing

☆ Fitch downgrades Egypt one notch deeper into junk territory
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

The downgrade reflects increased risks to Egypt's external financing, macroeconomic stability and the trajectory of already-high government debt, the rating agency said. The ratings agency said it expects Egypt to face a significant rise in external debt maturities in fiscal years ending June 2024 and June 2025, from that which ended in June 2023. The rating agency expects receipts from tourism, the Suez Canal and a recovery of remittances to help contain financing needs from larger imports. "Israel-Hamas war poses significant downside risks to tourism, although we build in some near-term hit," Fitch said. In October, fellow ratings agencies Moody's and Standard & Poor's (S&P) both downgraded Egypt's credit ratings by a notch.

Persons: Mohamed Abd El Ghany, Fitch, Vaibhav, Shailesh Organizations: REUTERS, Monetary Fund, Reuters, Thomson Locations: Cairo, Egypt, Egypt's, Suez, Gaza, Israel, Bengaluru

☆ WeWork's troubles darken outlook for embattled office market
▼ + stars: | 2023-11-03 | by ( Sinead Cruise | ) www.reuters.com time to read: +6 min

☆ The US economy added 150,000 jobs last month. Here’s what that means
▼ + stars: | 2023-11-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —For several months now, the US labor market has been on a cooling trajectory, and Friday’s jobs report made that even more apparent. The US economy added 150,000 jobs last month, falling below expectations but still notching a solid month of employment growth, according to Bureau of Labor Statistics data released Friday. October’s job growth came in below September’s stronger-than expected but downwardly revised total of 297,000 jobs. Including the estimated 150,000 jobs added last month and the downward revisions to August and September that totaled 101,000 jobs, the United States is averaging 239,000 jobs gained per month so far this year. Where the jobs were — and weren’tBecause of the timing of the striking actions and how the BLS tracks such activity, October is the first jobs report that reflects the massive strike.

Persons: ”, Sung Won Sohn, Nancy Vanden Houten, Jerome Powell, Gus Faucher, Dante DeAntonio, ” DeAntonio, “ It’s, ” Ger Doyle, ManpowerGroup, Amy Glaser, we’ve, “ We’re Organizations: Minneapolis CNN —, of Labor Statistics, SS Economics, Loyola Marymount University, United Auto Workers, Ford, General Motors, UAW, Big, Federal Reserve, Fed, Oxford Economics, BLS, PNC Financial Services, Government, Moody’s, ”, CNN, “ Locations: Minneapolis, United States, Southern California

☆ CVC IPO efforts may not be third-time lucky
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 2 (Reuters Breakingviews) - CVC Capital Partners’ ambitions to become a publicly traded diversified asset manager are on the back burner. Shares of rival managers have been pummelled as investors fret over the Gaza conflict, a weakening economy and whether buyout groups can continue to flourish in an era of higher interest rates. True, interest rates may fall. But geopolitical tensions are unlikely to die down, given unresolved issues in the Middle East and Ukraine. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dado Ruvic, Pamela Barbaglia, Aston Martin, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Partners, Financial Times, Moody’s, Pfizer, Thomson Locations: Amsterdam, Ukraine, Luxembourg, Gaza, East

☆ Retailers predict a slower holiday shopping season
▼ + stars: | 2023-11-02 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Retailers are projecting slower growth this holiday shopping season as inflation, higher borrowing costs, and the resumption of student loan repayments cause many consumers to pull back. The government reported that strong consumer spending drove the economy to a robust 4.9% annual growth rate in the July-September quarter. Consumer confidence dropped for the third consecutive month despite the booming economy. The resumption of student loan repayments last month after a three-year pause could also impact consumer spending. “Student loan repayments will diminish the already dwindling savings among younger households,” Moody’s said in a report this week.

Persons: Matthew Shay, ” Dana Peterson, “ Consumers, ”, ” Moody’s, ” Shay Organizations: New, New York CNN — Retailers, National Retail Federation, “, Consumer, Conference Board, Consumers Locations: New York, splurging

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