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☆ 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

Amid the economic turmoil of the pandemic, his government racked up Canada's highest ever deficit. Failing to curb spending now risks "the market dictating to you what you have to do with fiscal policy," said Doug Porter, chief economist at BMO Capital Markets. "I do think they have to trim the sails a bit," he added. "It's going to be easier to get inflation down if monetary and fiscal policy are rowing in the same direction," Macklem said. Fitch Ratings stripped Canada of its triple-A credit rating in June 2020, citing pandemic spending.

Persons: Justin Trudeau, Doug Porter, Chrystia Freeland, Katherine Cuplinskas, Trudeau, Macklem, Desjardins, Randall Bartlett, Simon Deeley, Robert Asselin, DBRS Morningstar, Julia Smith, Steve Scherer, Fergal Smith, Denny Thomas, Josie Kao Organizations: OTTAWA, Trudeau's Liberal, BMO Capital Markets, Finance, International Monetary Fund, of Canada's, BoC, UK, RBC Dominion Securities Inc, New, Business Council of Canada, Fitch, Moody's Investors, Canada, Thomson Locations: Canada, FES, Germany, High, Ottawa, Toronto

☆ Home prices remain steady despite rising mortgage rates
▼ + stars: | 2023-11-01 | 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 EmailHome prices remain steady despite rising mortgage ratesMark Zandi, Moody's Analytics chief economist, and CNBC's Diana Olick join 'The Exchange' to discuss mortgage rates creating a lack of home supply, home prices increasing for seven months, and homebuilders investing in built-for-rent homes.

Persons: Mark Zandi, Diana Olick

☆ NBA roundup: Stephen Curry (42) guides Warriors past Pelicans
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +7 min

Mandatory Credit: Matthew Dobbins-USA TODAY Sports/File Photo Acquire Licensing RightsOctober 31 - Stephen Curry scored 42 points and the visiting Golden State Warriors routed the New Orleans Pelicans 130-102 on Monday night. Curry made 3 of 5 shots from beyond the arc and scored 16 points in the first quarter. Murray shot 17-for-24 from the field and made his first 11 field-goal attempts of the second half. Atlanta's Trae Young added a season-high 24 points with eight assists, De'Andre Hunter scored 16 points and Clint Capela blocked five shots. Minnesota also got 16 points and 10 rebounds from Karl-Anthony Towns, plus 14 points and 13 rebounds from Rudy Gobert.

Persons: Stephen Curry, Herbert Jones, Matthew Dobbins, Chris Paul, State reserve.Trayce Jackson, Davis, Moses Moody, Gary Payton II, CJ McCollum, Zion Williamson, Jordan Hawkins, Matt Ryan, Jonas Valanciunas, Kira Lewis Jr, Curry, Dejounte Murray, Murray, Atlanta's Trae Young, De'Andre Hunter, Clint Capela, Anthony Edwards, Karl, Anthony Towns, Rudy Gobert, D'Angelo Russell, Angeles, Anthony Davis, LeBron James, Gary Harris, Franz Wagner, Jalen Suggs, Wagner, Suggs, Luka Doncic, Doncic, Derrick Jones Jr, Tim Hardaway Jr, Jaren Jackson Jr, Desmond Bane, Marcus Smart, Nikola Vucevic, Zach LaVine, Myles Turner, Tyrese, Jaylen Brown, Jayson Tatum, Kristaps Porzingis, Kyle Kuzma, Cam Thomas, Thomas, Mikal Bridges, Lonnie Walker IV, Dorian Finney, Smith, Terry Rozier, Brandon Miller, Jerami Grant, Malcolm Brogdon, Deandre Ayton, Scottie Barnes, Brogdon, Grant, Giannis Antetokounmpo, Damian Lillard, Bobby Portis, Cameron Payne, Tyler Herro, Jimmy Butler, Shai Gilgeous, Alexander, Josh Giddey, Jaden Ivey, Nikola Jokic, Jokic, Aaron Gordon, Lauri Markkanen, Walker Kessler Organizations: Golden State Warriors, New Orleans Pelicans, Smoothie King Center, USA, State, Warriors, Pelicans, Timberwolves, Atlanta, Minnesota, Hawks, Lakers, Orlando, Sacramento, Mavericks, Grizzlies, Dallas, Memphis, Bulls, Pacers, Chicago, Indiana, Celtics, Washington, Wizards, Boston, Nets, Charlotte, Brooklyn, Hornets, Trail Blazers, Raptors, Portland, Toronto, Bucks, Milwaukee, Miami's, Heat, Pistons, Oklahoma City, Denver Nuggets, Thunder, Nuggets, Jazz, Denver, Utah, Thomson Locations: New Orleans , Louisiana, USA, Smoothie, Memphis, Indianapolis, Boston, Brooklyn, Miami, Wisconsin, Minnesota, Detroit, Utah

☆ China factory activity unexpectedly shrinks in Oct, dents recovery momentum
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

China Daily via REUTERS/File Photo Acquire Licensing RightsBEIJING, Oct 31 (Reuters) - China's manufacturing activity unexpectedly contracted in October, an official factory survey showed on Tuesday, underlining the challenge facing policymakers trying to engineer a durable economic recovery. Recent indicators pointed to encouraging signs of stabilising in the world's second-largest economy, supported by a flurry of policy support measures, although a protracted property crisis and soft global demand remain major headwinds. "Although there are signs of exports bottoming out, a strong recovery in external demand is probably elusive," he added. But analysts say more policy support may be needed to ensure the economy reaches Beijing's annual growth target of about 5%. "The additional 1 trillion yuan will help in November and December," Economist Intelligence Unit's Xu said.

Persons: Xu Tianchen, Dan Wang, Nomura, Unit's Xu, Joe Cash, Sam Holmes Organizations: REUTERS, Rights, National Bureau, Statistics, PMI, Economist Intelligence Unit, Hang Seng Bank China, JPMorgan, Moody's, Thomson Locations: Hangzhou, Zhejiang province, China, Rights BEIJING

☆ Steph Curry pours in 42 as Warriors roll over Pelicans
▼ + stars: | 2023-10-31 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/14] Oct 30, 2023; New Orleans, Louisiana, USA; Golden State Warriors forward Draymond Green (23) reacts to a foul call in the first quarter at Smoothie King Center. Mandatory Credit: Matthew Dobbins-USA TODAY Sports Acquire Licensing RightsOctober 31 - Steph Curry scored 42 points and the visiting Golden State Warriors routed the New Orleans Pelicans 130-102 on Monday night. The Warriors played without Klay Thompson (knee soreness) and Jonathan Kuminga (knee contusion) and the Pelicans played without Brandon Ingram (knee soreness). Curry made two 3-pointers and Andrew Wiggins made one as Golden State began the third quarter with a 13-4 run that produced an 11-point lead. The Warriors led by eight on three more occasions before consecutive 3-pointers by McCollum and Hawkins helped the Pelicans get within 59-57 at halftime.

Persons: Matthew Dobbins, Steph Curry, Chris Paul, Trayce Jackson, Davis, Moses Moody, Gary Payton II, CJ McCollum, Zion Williamson, Jordan Hawkins, Matt Ryan, Jonas Valanciunas, Kira Lewis Jr, Klay Thompson, Jonathan Kuminga, Brandon Ingram, Curry, Andrew Wiggins, Moody, Lewis, Paul, Williamson, Ryan, Looney, McCollum, Hawkins Organizations: Golden State Warriors, Smoothie King Center, USA, New Orleans Pelicans, Warriors, Pelicans, The Warriors, Golden State, Houston, State, Thomson Locations: New Orleans , Louisiana, USA, Smoothie, Moody . New Orleans, Golden, New Orleans

☆ Can America afford two wars? Here’s what the bond market thinks
▼ + stars: | 2023-10-29 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

New York CNN —If you want to aggravate the US bond market, just remind traders how high the nation’s budget deficit is. The latest tally from the Treasury Department for the fiscal year that ended September 30 put the deficit at $1.7 trillion. All else being equal, that tends to push bond prices down, which causes yields to go higher. That suggests there are other factors that may be outweighing the effects of the war that are driving yields higher, said Snyderman. Also, since the debt ceiling was suspended in June, the Treasury has been issuing more bonds to fund government spending, pushing bond prices down.

Persons: it’s, Joe, That’s, shrugged, Lisa Shalett, Janet Yellen, Rachel Snyderman, Biden, ” Snyderman, John Lynch, Israel doesn’t Organizations: New, New York CNN, Treasury Department, Treasury, Morgan Stanley Wealth Management, Bloomberg, Center, CNN, , Congressional, Federal Reserve, Hamas, Fitch, Moody’s, Service, Comerica Wealth Management Locations: New York, Israel, Ukraine, Gaza, United States

☆ Earnings calls reveal how companies ranging from Coca-Cola to JPMorgan are capitalizing on AI
▼ + stars: | 2023-10-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

The craze around AI kicked off late last year with the launch of ChatGPT, and dozens of technology companies from Alphabet to Meta Platforms have thrown a hat into the ring . Many companies have utilized AI or machine-learning tools in the past to streamline their businesses. For pharmacy giant Walgreens Boots Alliance and soda maker Coca-Cola , AI is helping improve supply chains, forecast demand and in some cases, predict spending. Centene , UnitedHealth and Elevance Health all highlighted ways they are implementing AI to improve customer offerings. Financials Major financial and banking companies are also finding ways to capitalize on AI to improve efficiencies and their bottom line.

Persons: Gary Guthart, Elevance, UnitedHealth, Erica, Moody's, Andrew Schlossberg, JPMorgan Chase, Jamie Dimon, That's Organizations: CNBC Pro, Consumer, Walgreens Boots Alliance, Supply, Microsoft, Health, Elevance, Bank of America, Google, Mastercard, JPMorgan

☆ Kylie Jenner set to launch ‘accessible’ new clothing line
▼ + stars: | 2023-10-26 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +3 min

CNN —Moving beyond cosmetics, skincare and even a Bratz doll line, the youngest Kardashian-Jenner sibling, Kylie Jenner, is expanding her business portfolio with a new clothing line, named Khy, launching November 1. “The whole line is really inspired by my personal wardrobe, and the different moods that I’m in,” Jenner told WSJ. (The biker glam pieces that make up its first collection are in partnership with the Berlin-based fashion brand Namilia.) Courtesy Khy“Kylie’s obviously very aware of what she likes,” Haider Ackermann, the fashion designer behind Jenner’s 2023 Met Gala gown, told WSJ. She’s always been seduced by it.”“Creatively I have such a strong vision of what I want to look like and what I want to do and what I want to wear,” Jenner told WSJ.

Persons: Kardashian, Jenner, Kylie Jenner, it’s, Kendall, ”, Kim, Cass Bird, Khy, ” Jenner, Martin Scorcese, Ed Ruscha, Jerry Lorenzo, Rory Satran, Kylie —, Kris Jenner, Jens, Emma Grede —, Kim Kardashian’s Skims, Kardashian’s, Price, ” Haider Ackermann, Jenner’s, she’s, She’s, “ Organizations: CNN, Givenchy Locations: Paris, Berlin

☆ Mexico clears up wreckage of Hurricane Otis, counts cost of damage
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Oct 26 (Reuters) - Mexican soldiers and rescue workers on Thursday scrambled to clear up the chaos and devastation wrought by Hurricane Otis in Acapulco as the government worked to bring relief to the battered southern beach resort. Nearly 8,400 members of Mexico's army, air force and national guard were deployed in and near Acapulco to assist in cleanup efforts, the defense ministry said. [1/5]People stand near street stalls damaged by Hurricane Otis near the entrance to Acapulco, in the Mexican state of Guerrero, Mexico, October 25. Mexico's state power utility CFE had over 1,300 employees working to restore power, it said on Wednesday evening, when some 300,000 people remained without electricity. "Now a Category 5 hurricane in Acapulco takes us by surprise," Jimenez Pons said.

Persons: Hurricane, Otis, Evelyn Salgado, Hurricane Otis, Henry Romero, Rogelio Jimenez Pons, Jimenez Pons, Brendan O'Boyle, Lizbeth Diaz, Kylie Madry, Miral Organizations: MEXICO CITY, REUTERS, Management Solutions, CFE, Mexico City, Thomson Locations: MEXICO, Acapulco, Guerrero, Mexican, Mexico

☆ Artists of Color Ask: When Is Visibility a Trap?
▼ + stars: | 2023-10-26 | by ( Aruna D Souza | More About Aruna D Souza | ) www.nytimes.com time to read: +1 min

The blur offers a similar anonymity to the residents of Harlem in Ming Smith’s nighttime photos from her “Invisible Man” series (1988-91). Where Smith uses long exposure to create her effect, Sondra Perry, in her video loop, “Double Quadruple Etcetera Etcetera I & II” (2013) relies on a tool in Photoshop that removes unwanted elements to partially obscure the bodies of two dancers. John Edmonds overexposes his film to create solarized prints with velvety surfaces in which his Black male subjects take refuge in the shadows. The hoodie, not surprisingly, shows up in many forms. Kevin Beasley casts it in resin in “ … ain’t it?” (2014), while Edmonds depicts young men who are doubly obscured — hoods up and seen from the back — in his large-scale photographs from 2018.

Persons: Smith, Sondra Perry, Joiri Minaya, John Edmonds overexposes, Kevin Beasley, Edmonds, Carrie Mae Weems, Trayvon Martin Locations: Harlem, Ming

☆ Mexico Clears up Wreckage of Hurricane Otis, Counts Cost of Damage
▼ + stars: | 2023-10-26 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

MEXICO CITY (Reuters) - Mexican soldiers and rescue workers on Thursday scrambled to clear up the chaos and devastation wrought by Hurricane Otis in Acapulco as the government worked to bring relief to the battered southern beach resort. Mexico's state power utility CFE had over 1,300 employees working to restore power, it said on Wednesday evening, when some 300,000 people remained without electricity. The port city's international airport was closed, after Otis wrecked the control tower, cut telecommunications, and left access roads blocked. "Now a Category 5 hurricane in Acapulco takes us by surprise," Jimenez Pons said. (Reporting by Brendan O'Boyle, Lizbeth Diaz and Kylie Madry; Writing by Brendan O'Boyle; Editing by Miral Fahmy)

Persons: Hurricane, Otis, Evelyn Salgado, Rogelio Jimenez Pons, Jimenez Pons, Brendan O'Boyle, Lizbeth Diaz, Kylie Madry, Miral Fahmy Organizations: MEXICO CITY, Management Solutions, CFE, Mexico City Locations: MEXICO, Acapulco, Guerrero, Mexico

☆ Comments on Morgan Stanley naming Ted Pick as CEO
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +3 min

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York, U.S. April 17, 2017. REUTERS/Shannon Stapleton/File photo Acquire Licensing RightsOct 25 (Reuters) - Below are some quotes from banking observers and CEOs about Morgan Stanley's (MS.N) naming of insider Ted Pick on Wednesday as its chief executive officer effective Jan. 1, replacing long-time leader James Gorman. DAVID SOLOMON, CEO, GOLDMAN SACHS"First, I want to congratulate James Gorman for his very successful run as CEO at Morgan Stanley. James has been a remarkable CEO, a builder, a competitor, but also a great friend. I also congratulate Ted Pick on his appointment as the incoming CEO.

Persons: Morgan Stanley, Shannon Stapleton, Morgan Stanley's, Ted Pick, James Gorman, BRIAN MULBERRY, MOODY'S, STEPHEN BIGGAR, Eaton Vance, DAVID SOLOMON, GOLDMAN SACHS, James, We're, BRIAN MOYNIHAN, KENNETH LEON, MARK NARRON, FITCH, Saeed Azhar, Nupur Anand, Lananh Nguyen, Rod Nickel, Sonali Paul Organizations: REUTERS, ANA, Gorman, Wealth, OF, Thomson Locations: New York, U.S

For a Biden administration committed to stopping the Israel-Hamas war from widening, the conflict could amplify the economic strains and possibly cause governments to collapse. “Let’s support Egypt," Michel told reporters afterward. One major potential setback for Egypt stemming from the latest Israel-Hamas War would be the loss of tourists seeking to explore the country's ancient pyramids and history. Tourism is one of Egypt's leading economic sectors, and along with foreign investment provides needed access to the rest of the global economy. Before the latest Israel-Hamas war, some officials had pointed to Lebanon’s rebounding tourism industry as an economic lifeline.

Persons: Joe Biden, Christopher Swift, Ajay Banga, Charles Michel, Michel, Abdel Fattah el, Sissi, Israel, ”, Swift, ” Swift, it's, Mubarak, Moody’s, Mirette, Mabrouk, ” Mabrouk, Paul Salem, Abby Sewell Organizations: WASHINGTON, Hamas, International Monetary Fund, European Union, reverberations, Treasury Department, European Council, el, IMF, Tourism, Associated, World Bank, U.S, Middle East Institute Locations: Israel, Egypt, Jordan, Lebanon, Saudi Arabia, Gaza, Sudan, East, Hamas, United States, Qatar, Washington, Beirut

☆ I went to Cheesecake Factory to see firsthand why it's a mainstay at so many successful malls
▼ + stars: | 2023-10-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The Cheesecake Factory is more than a staple of US shopping malls – it's a sign of financial health. Malls without a Cheesecake Factory were much more likely to be behind on their loans, Moody's found. AdvertisementAdvertisementThe Cheesecake Factory first opened in Beverly Hills, California, in 1978 and has since grown to more than 200 restaurants across North America. The chain is typically located in or near shopping malls — a commercial real estate segment that has seen a rough few years with changing shopping patterns. To see how that relationship plays out in real life, I headed off for lunch at my local Cheesecake Factory at the West Towne Mall in Madison, Wisconsin.

Persons: Moody's, —, Matt Reidy, Reidy Organizations: Service, Sears, Nordstroms, Apple, Factory, West Locations: Beverly Hills , California, North America, West Towne, Madison , Wisconsin

☆ ‘The Holdovers’ Review: Three Sad Souls Stranded for Christmas
▼ + stars: | 2023-10-26 | by ( Wesley Morris | More About Wesley Morris | ) www.nytimes.com time to read: +3 min

They set little traps for Hunham’s arrogance and sic their daddies on the administrators, who then bear down on him. It’s a ritzy, laugh-out-loud Christmas miracle that whisks away four of the boys at the end of the first act. But one of them, an almost cool only-child named Angus Tully (Dominic Sessa), can’t go because nobody can reach his parents. He directed this movie — from a script David Hemingson wrote — and moody, quarrelsome people are his specialty. This is his eighth feature-length movie — “Citizen Ruth,” “Election,” “Sideways,” “About Schmidt,” “The Descendants,” “Nebraska” and “Downsizing” precede this one.

Persons: tony, can’t, Paul Hunham, Paul Giamatti, ”, he’s, It’s, Angus Tully, Dominic Sessa, Alexander Payne’s, David Hemingson, Barton, soundboards, Payne, Ruth, Schmidt, Payne’s, it’s, Giamatti, tweedy Organizations: ” “ Nebraska Locations: New England, Barton, St, Kitts, ” “

DETROIT (AP) — General Motors and Jeep maker Stellantis are meeting with United Auto Workers bargainers Thursday to see if they can reach a contract agreement that mirrors a deal signed with crosstown rival Ford. Nearly 17,000 striking workers at Ford left the picket lines when the agreement was announced Wednesday night and will return to work shortly. About 57,000 Ford workers still have to vote on the tentative pact. It wasn't clear what Ford agreed to in terms of battery factories. Ford had announced plans to build two battery factories in Kentucky, one in Tennessee and another in Michigan, but the Michigan plant is now on hold.

Persons: Shawn Fain, Wheaton, “ Fain, ” Wheaton, it's, Ford, haven’t Organizations: DETROIT, —, Motors, United Auto Workers, Ford, GM, Cornell University, Chevrolet, UAW, Workers, Toyota, Moody’s Investor Service Locations: Fort Wayne , Indiana, Flint , Michigan, Arlington , Texas, Kentucky, Tennessee, Michigan

☆ Vietnam's real estate woes: how much worse can they get?
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

HANOI, Oct 26 (Reuters) - A rough year for Vietnam's real estate sector has seen developers miss interest payments on debt, amid a credit crunch spurred by ill-timed government measures, although spillover risk has been limited. Shares of the largest listed developer, Vinhomes (VHM.HM), part of the country's biggest conglomerate, Vingroup (VIC.HM), have fallen 13% this year. In September, the Asian Development Bank warned of potential spillover into banking from irregularities in corporate bonds and real estate markets, although troubled bonds made up just a small portion of total bank credit. While ill-timed government measures, companies' high debt and oversupply are responsible for the sectors' woes in both countries, conditions are different in Vietnam. Vietnam has a less acute situation of oversupply and speculation than China, he added, while real estate's contribution to its economy is also smaller.

Persons: Ho, Van Thinh Phat, Jean Xavier of S, Truong, Truong My Lan, Van Thinh, P's Xavier Jean, Francesco Guarascio @fraguarascio, Phuong Nguyen, Anne Marie Roantree, Clarence Fernandez Organizations: Dragon, Hung Thinh Corp, Moody's, Asian Development Bank, P Global, P, Southeast Asia Bank, Maritime Bank, Asia Commercial Bank, Vietnam Prosperity Bank, VP Bank, Bank, Van Thinh Phat Holdings Group, Thomson Locations: HANOI, Ho Chi Minh City, Vietnam, Phu, Hanoi, Southeast, Asia, Truong My, VIETNAM, CHINA, China

☆ Inflation is cooling, but the price hikes aren’t done
▼ + stars: | 2023-10-25 | by ( Lucy Bayly | Alicia Wallace | ) edition.cnn.com time to read: +8 min

Inflation in the United States has unquestionably cooled after hitting 40-year highs last year. Other key inflation gauges, the more comprehensive Personal Consumption Expenditures price index and the wholesale-focused Producer Price Index, have moderated as well. A spike in gas prices and other components such as persistently high shelter costs have kept inflation elevated. The locally owned Walnut Group restaurant company closed its venerable Mediterranean Restaurant (fondly called The Med), the French bistro Brasserie Ten Ten and the newer Italian entrant Via Perla. Courtesy Tim Romano PhotographyAlthough Brasserie Ten Ten had a nearly two-decade run before its closure, it was like starting a brand new restaurant, Hessel said.

Persons: Marlon Pando, White Lotus, Tony Hessel, he’s, Jerome Powell, Brandon Bell, —, ”, Lydia Boussour, United States —, Pando, “, Price, Frederic J . Brown, Mark Zandi, Chase Castor, hadn’t, Holly Wade, Peggy Romano, Romano, Brasserie, Tim Romano, Hessel, ” Hessel, you’ve, it’s Organizations: Minneapolis CNN —, Disney, Mexican Grill, White, Getty, Moody’s, National Federation of Independent, Washington Post, NFIB Research, shocker, Walnut Group, Via Perla Locations: Minneapolis, New Jersey, Boulder , Colorado, United States, Mexican, Austin , Texas, Alhambra , California, AFP, Marion , Kansas, —, Walnut

Speaking at this week's global finance meeting in Riyadh, HSBC boss Noel Quinn warned of a potential "tipping point on fiscal deficits" for a number of countries across the world. And some analysts fear the uncertainty of next year's funding crush is filtering out the steepening yield curve via the term premium. Term premium at highest in 8 yearsReuters GraphicsCBO long-term US debt and deficit projections'DOOM LOOP'? That's spooky enough, until you start to factor in the recent yield spike and or a return of the term premium to 60-year averages of 150 bp. Tipping point or not, there's a danger the market is starting crystallise the problem it fears most.

Persons: Sukree, Noel Quinn, it's, that's, Stephen Jen, Jen, Goldman Sachs, Jeremy Hunt, Mike Dolan Organizations: HSBC, New York Fed, Federal Reserve, Fed, JPMorgan, Treasury, CBO, Moody's, Reuters Graphics Reuters, Reuters, Thomson Locations: Kasikornbank, Bangkok, Riyadh, U.S, Washington, Europe, Italy

☆ What it will take to make homes affordable again for millions of Americans
▼ + stars: | 2023-10-25 | by ( Tim Mullaney | ) www.cnbc.com time to read: +12 min

"At the current 8% mortgage rate, mortgage payment[s] are 38% of median income," Moody's Analytics chief economist Mark Zandi said. The National Association of Realtors measures affordability through its 34-year old Housing Affordability Index, or HAI. And even if home prices do the decline, that trend won't be sustainable unless America builds millions of more homes. And spreads will likely remain extra-wide until short-term interest rates drop below the rates on longer-term treasuries, Duncan said. "Mortgage rates will not go back to 3% – we'll be lucky if we get back to 5," Yun said.

Persons: —, John Burns, maven Mohamed El, Lawrence Yun, Yun, Mark Zandi, That's, Doug Duncan, Fannie, Duncan, Daryl Fairweather, They've, Fairweather, they've, Freddie Mac, –, Zandi, it's Organizations: Nurphoto, Getty, National Association of Realtors, John Burns Real Estate Consulting, NAR, Redfin, Allianz, America, Federal Reserve, realtors, Builders, Fed Locations: Florida, Austin , Texas, Boise , Idaho, Fannie Mae, America, New York, California, Phoenix, Tampa, Louisville, Indianapolis, Chicago

But if the UAW can reach a tentative agreement with Ford, it would be used as a model to seek similar contract settlements with GM and Stellantis. Typically, during past auto strikes, a UAW deal with one automaker has led the other companies to match it with their own settlements. About 32% of the union’s 146,000 members at the automakers are now on strike and getting by on $500 per week in strike pay. The UAW also wants traditional defined-benefit pension plans restored for workers who were hired after 2007, an end to varying tiers of wages for UAW workers, pension increases for retirees and other benefits. One key issue is whether to extend the national UAW contract to 11 U.S. electric vehicle battery factories.

Persons: Ford, Shawn Fain, ’, Todd Dunn, “ I've, ” Dunn, “, Dunn, he's, ” Masters, Mary Barra, Wayne State's Masters, It's Organizations: DETROIT, United Auto Workers, Ford, Detroit, General Motors, UAW, GM, Kentucky, Plant, Ford's, Bloomberg News, Automotive, Marick, Wayne State University, Workers, Toyota, Moody's Investor Service Locations: Arlington , Texas, Sterling Heights , Michigan, Louisville, Detroit, Korean, Texas

He still spoiled the home team's opening night as the Phoenix Suns won the first matchup between the Pacific Division powerhouses. Golden State opened the third on a 27-5 burst while the Suns went 2 for 14. Golden State acquired him on draft night from the Wizards — he never played in Washington — for Jordan Poole. Warriors: The Warriors have lost only five of their last 12 openers and are 44-34 playing their first home game of a season. Warriors: At Sacramento on Friday night in a rematch of the first round of the playoffs won by Golden State in Game 7.

Persons: — Kevin Durant, “ It's, ” Durant, “, ” Devin Booker, Stephen Curry, Durant's, Curry, Jusuf Nurkic, Josh Okogie, Eric Gordon, Booker, soreness, Durant, Durant patted, Chris Paul, Washington —, Jordan Poole, Paul, Moses Moody, Bradley Beal, Frank Vogel, ” Vogel, Phoenix, Earl Smith, ___ Organizations: FRANCISCO, Warriors, Golden State, Phoenix Suns, Pacific Division, KD, Suns, NBA, Chase Center, Wizards, INS, Lakers, Golden, Longtime Warriors, 49ers Locations: Brooklyn, Washington, Utah, Sacramento

☆ Moody's quarterly profit beats estimates on robust demand
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Signage is seen outside the Moody's Corporation headquarters in Manhattan, New York, U.S., November 12, 2021/File Photo Acquire Licensing RightsOct 25 (Reuters) - Ratings agency Moody's (MCO.N) reported higher-than-expected profit in the third quarter on Wednesday, helped by strong demand for its research and analytics. The New York-based company saw robust demand for its data and insights, including CreditView, its flagship credit research product. Lesser economic uncertainty compared to last year also helped a rebound in debt issuance, further boosting Moody's business. The company reported adjusted profit of $2.43 per share for the three months ended Sept. 30, compared with analysts' average estimate of $2.30 per share, according to LSEG data. Moody's kept its full-year adjusted profit forecast unchanged at $9.75 to $10.25 per share.

Persons: Rob Fauber, Moody's, Niket, Shilpi Majumdar Organizations: Moody's Corporation, Thomson Locations: Manhattan , New York, U.S, New York, Bengaluru

A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2022. Saperstein, who leads wealth management, will remain co-president and head of wealth, and take on additional responsibilities overseeing investment management. Simkowitz, head of investment management, will become co-president and head of institutional securities. GORMAN'S LEGACYGorman joined Morgan Stanley in February 2006 and was named co-president the following year. Gorman "guided a traditional, white-shoe investment bank through a transformative and successful evolution into a diversified, dynamic wealth management institution," said Ana Arsov, managing director at Moody's.

Persons: Morgan Stanley, Brendan McDermid, Morgan Stanley's, Ted Pick, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, Pick, Brian Mulberry, John Mack, Brian Moynihan, Jamie Dimon, Eaton Vance, Stephen Biggar, Biggar, bachelor's, Ana Arsov, Manya Saini, Niket, Tatiana Bautzer, Lananh Nguyen, Nupur Anand, Saeed Azhar, Megan Davies, Anil D'Silva, Devika Syamnath, Sonali Paul Organizations: New York Stock Exchange, REUTERS, Wall, Zacks Investment Management, Wall Street's, Bank of America, JPMorgan Chase, Trade Financial Corp, Eaton Vance Corp, Argus Research, University of Melbourne, Columbia University, Thomson Locations: New York City, U.S, Wall, Gorman, Australia, Bengaluru, New York

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