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Dollar deepens dive on inflation surprise
  + stars: | 2023-07-13 | by ( Tom Westbrook | ) www.reuters.com   time to read: +4 min
The euro made a fresh 15-month high of $1.1148 in Asia on Thursday and the yen touched its strongest since mid-May at 138.08 per dollar. U.S. core inflation came in at 0.2% in June against market expectations for 0.3%. Moves in other currencies were smaller but still delivered new milestones as traders reckon the dollar has further to drop. The Swiss franc hit its strongest since 2015 at 0.8655 to the dollar and sterling a 15-month top of $1.3019. Amongst the dollar selling, one outlier was perhaps the yen which has led gains.
Persons: Imre Speizer, Malaysia's, Pita Limjaroenrat, Steve Englander, Kazuo, Ueda, Chang Wei Liang, Tom Westbrook, Jamie Freed, Kim Coghill Organizations: month's, U.S, Westpac, New Zealand, Swiss, Standard Chartered, Bank of Japan, Fed, Central Bank, Thomson Locations: SINGAPORE, Asia, Scandinavia
Dollar takes a beating as traders see US rates peaking
  + stars: | 2023-07-13 | by ( Tom Westbrook | ) www.reuters.com   time to read: +3 min
The dollar had its worst session in five months overnight, falling more than 1% against the euro to its lowest in more than a year and notching even larger losses elsewhere. The New Zealand dollar reached a two-month high of $0.6309 and the Aussie a three-week peak of $0.6796. The moves were small, yet showed traders' faith the dollar has further to fall. Sterling sat at $1.2994, just below its overnight high of $1.3001. The Swiss franc , which hit its highest since 2015 overnight, traded just below that level at 0.8661 francs to the dollar.
Persons: Steve Englander, Sterling, Tom Westbrook, Jamie Freed Organizations: month's, U.S, New Zealand, Sterling, Swiss, Standard Chartered, Swedish, Bank of Japan, Central Bank, Thomson Locations: SINGAPORE, Asia, Scandinavia
Dollar takes a beating as traders see U.S. rates peaking
  + stars: | 2023-07-13 | by ( ) www.cnbc.com   time to read: +3 min
The dollar had its worst session in five months overnight, falling more than 1% against the euro to its lowest in more than a year and notching even larger losses elsewhere. U.S. core inflation came in at 0.2% in June against market expectations for 0.3%. Two-year Treasury yields, which track rate expectations, dropped more than 15 basis points overnight to 4.73%. Sterling sat at $1.2994, just below its overnight high of $1.3001. Chinese trade data is due later on Thursday, along with minutes from last month's European Central Bank meeting, European industrial production data and British monthly GDP.
Persons: Steve Englander, Sterling Organizations: month's, U.S, New Zealand, Sterling, Swiss, Standard Chartered, Swedish, Bank of Japan, Central Bank Locations: Asia, Scandinavia
[1/2] U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. The greenback also hit its lowest against the Swiss franc since early 2015 after the inflation report. Data showed core U.S. consumer prices rose just 0.2% in June, compared with forecasts for a gain of 0.3%. The monthly rise in core prices was the smallest since August 2021. Against the yen, the dollar dropped to a six-week low of 138.17 yen .
Persons: Lee Jae, Simon Harvey, Jordan Rochester, Sterling, Gertrude Chavez, Dreyfuss, Ann Saphir, Chris Reese, Andrea Ricci Organizations: REUTERS, Swiss, Swiss National Bank, Nomura, Bank of England, Thomson Locations: Seoul, Swiss, U.S, London, Norwegian, Swedish, United States
[1/2] U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. The greenback also hit its lowest against the Swiss franc since early 2015 after the inflation report. "The Fed may have talked itself into a corner with a July 26th rate hike. Against the yen, the dollar dropped to a six-week low of 138.17 yen . The pound is being driven by expectations for the Bank of England to deliver more rate rises to tame UK inflation, which is the highest of any major economy.
Persons: Lee Jae, Simon Harvey, Brian Jacobsen, Sterling, Gertrude Chavez, Dreyfuss, Chuck Mikolajczak, Ann Saphir, Chris Reese Organizations: REUTERS, Swiss, Swiss National Bank, Core, CPI, Annex Wealth Management, Bank of England, Thomson Locations: Seoul, Swiss, Core U.S, U.S, London, Norwegian, Swedish, Menomonee Falls , Wisconsin, New York, San Francisco
VILNIUS, July 12 (Reuters) - NATO leaders at this week's summit in Vilnius said Ukraine should be able to join the military alliance at some point in the future but dashed Kyiv's hopes for an immediate invitation. Below are some of the main commitments pledged to Ukraine in connection with the summit. In a declaration, NATO countries also pledged its support for Ukraine for "as long as it takes". Britain will also launch a project through NATO to establish a medical rehabilitation centre for Ukrainian soldiers. NORWEGIAN SUPPORTNorway will increase its military support to Ukraine by 2.5 billion crowns ($239 million) this year to 10 billion.
Persons: Volodymyr Zelenskiy, Niklas Pollard, John Irish, Sabine Siebold, Andrew Gray, Justyna, Alex Richardson Organizations: NATO, Ukraine Council, Ukraine, France, Challenger, GERMAN PATRIOTS German, Thomson Locations: VILNIUS, Vilnius, Ukraine, Russia, NATO, Kyiv, Moscow, Britain, Ukrainian, Denmark, Romania, Norway
Known as GUGI, the directorate is responsible for conducting sabotage and surveillance against critical maritime infrastructure, including undersea cables and energy pipelines. NATO's intelligence chief warned this year that Russia could attempt to sabotage undersea cables in retaliation for Western support of Ukraine. Yantar, the special-purpose survey ship, was spotted lingering near undersea cables west of Ireland in 2021. "We know that Russia has the capacity to map but also potentially to conduct actions against critical infrastructure," NATO Secretary General Jens Stoltenberg told reporters on June 16. "That's also the reason why we have, for many years, addressed the vulnerability of critical undersea infrastructure."
Persons: Sidharth Kaushal, Kaushal, GUGI, OLGA MALTSEVA, Sutton, Andrey Luzik, Jens Stoltenberg, That's, Stoltenberg, Constantine Atlamazoglou Organizations: NATO, Service, Directorate, Russian Ministry of Defense, Submarine, Royal United Services Institute, Getty, Barents Observer, Russia Ministry of Defense, US Navy, Norwegian Coast Guard, OLE BERG, NATO Maritime Centre, Fletcher School of Law, LinkedIn, Twitter Locations: Wall, Silicon, Russia, GUGI, British, St . Petersburg, AFP, Belgorod, Moscow, Olenya, Baltic, Severomorsk, Europe, Ukraine, Ireland, GUGI's St, Petersburg
[1/2] U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. Markets are now focusing their attention on U.S. consumer prices data due out on Wednesday, which will provide more clarity on the progress the Fed has made in its fight against stubbornly high inflation. The pound has been rallying on a stronger economy and aggressive repricing of expectations for tighter BoE policy, according to Danske Bank FX analyst Kirstine Kundby-Nielsen. "There have been no signs of relief in the labour market data and markets continue to price in more. Given the rising inflation backdrop in Japan, the market is starting to become more wary that perhaps a policy tweak could come."
Persons: Rick Wilking, Shaun Osborne, Kirstine Kundby, That's, Kundby, Nielsen, Moh Siong Sim, Samuel Indyk, Rae Wee, Edmund Klamann, Alex Richardson, Chizu Organizations: REUTERS, Federal, Scotiabank . Markets, Sterling, Bank of England, Danske Bank, Nielsen, Swiss, greenback, Swiss National Bank, Singapore, Bank of Japan, New Zealand, Reserve Bank of New, Thomson Locations: Westminster , Colorado, U.S, Norwegian, Swedish, Swiss, Japan, Reserve Bank of New Zealand
Goldman Sachs has named several European stocks to buy that it expects to outperform the market — and that other investors could be missing. The list includes Norwegian hydrogen producer Nel , which Goldman says has potential upside of 80% to its 12-month price target. Analyst Michele Della Vigna likes the stock for its strong growth outlook and focus on the North American market. Goldman also picked wind power company Vestas , saying its stock could rise by 48% over the next year. It also chose chemicals company IMCD , with 57% potential upside, and drinks company Remy Cointreau , with 54% potential upside.
Persons: Goldman Sachs, John Sawtell, Goldman, Nel, Michele Della Vigna, Ajay Patel, Remy Cointreau, Elisa, — CNBC's Michael Bloom Organizations: ABN Amro, Veritas Locations: Norwegian, Finnish
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We are a threat to no one' despite NATO expansion, says Norwegian PM Jonas Gahr StøreJonas Gahr Støre, prime minister of Norway, discusses NATO's Scandinavian expansion following Russia's aggression in Ukraine.
Persons: Jonas Gahr Støre Jonas Gahr Støre Organizations: NATO Locations: Norway, Ukraine
In afternoon trading, the dollar index , which tracks the U.S. currency against a basket of major peers, slid 0.3% to 101.98, a three-week low. With U.S. nonfarm payrolls out of the way, attention turns to U.S. inflation data due on Wednesday. The Norwegian crown firmed against the dollar and euro following Norway's inflation data. The Chinese yuan slumped against the dollar after weak inflation numbers in the world's second-largest economy. The weak Chinese data dragged down the Australian and New Zealand dollars, which are often used as liquid proxies for the Chinese yuan.
Persons: gainers, Mary Daly, nonfarm, Erik Nelson, Wells, Nelson, Gertrude Chavez, Dreyfuss, Alun John, Rae Wee, Jamie Freed, Ed Osmond, Emelia, Will Dunham, Sharon Singleton Organizations: Federal Reserve, San Francisco Fed, U.S, CPI, New, New Zealand, Thomson Locations: U.S, Wells Fargo, London, Europe, China, Norwegian, New Zealand, Singapore
Two shopping centers promptly sprang up to serve Russians looking for Western clothing, gifts, disposable diapers and alcohol. “It was a local, regional and national strategy to focus on turning toward Russia,” Mr. Roine said. More than 266,000 people from Russia crossed the nearby border station into Norway in 2019; last year, that number fell by more than 75 percent. For decades, the vast amounts of cod in the Barents Sea — home to one of the world’s last surviving stocks of the fish — have drawn people and businesses from both countries to this Arctic Circle community. Kirkenes’s most important industrial employer is Kimek, a shipbuilding company that has prospered by repairing commercial fishing boats known as trawlers, especially the Russian ones.
Persons: Russia ’, ” Mr, Roine Organizations: Arctic Council Locations: Russia, Soviet Union, Norway, Kirkenes
JPMorgan has named a raft of European stocks it described as having high yields, strong balance sheets and safe dividends, such as BT Group , Bayer and Sainsbury's . In a July 3 note detailing its outlook for the second half of the year, analysts led by Mislav Matejka stated: "Our pecking order for 2H is: bullish on Staples, Utilities, Telecoms and Healthcare, European Energy could hold up well." The bank said international markets had outperformed the U.S., adding that it sees a "significant valuation discount in International vs US stocks." Its European Sustainable yield basket — made up of 40 "high- and sustainable-yielding European stocks, with safe dividends and strong balance sheets" — include stocks across the bank's preferred sectors. JPMorgan also chose a number of "cheap" global sectors it expects to outperform, including telecoms, energy and staples.
Persons: Mislav Matejka, JPMorgan's, J Sainsbury, Banks, Michael Bloom Organizations: JPMorgan, BT Group, Bayer, Sainsbury's, Healthcare, European Energy, International, Novartis, Sanofi, Telefonica, Telia Locations: Staples, Utilities, Swiss, Norwegian, Spanish, Swedish, Europe
Patriot long-range air defence systems of the German Bundeswehr armed forces are deployed at Vilnius Airport ahead of the upcoming NATO Summit in Vilnius, Lithuania on July 7, 2023. "I don't think it's ready for membership in NATO," President Joe Biden told CNN in an interview airing Sunday. More than two-thirds of alliance members have banned the weapon because it has a track record for causing many civilian casualties. As for Ukraine's possible entry into NATO, the alliance said in 2008 that Kyiv eventually would become a member. "That's an issue that will cause tension and dissent, and that's not what the Vilnius summit is all about," he said.
Persons: NATO's, Joe Biden, Donald Trump, Biden, Douglas Lute, Barack Obama, Vladimir Putin, Wagner, Lute, Mitch McConnell, Putin, Daniel Fried, Volodymyr Zelenskyy, Recep Tayyip Erdogan, Finland, Erdogan, It's, Anders Fogh Rasmussen, Max Bergmann, They've, Bergmann, Viktor Orban, Idaho Sen, Jim Risch, aren't, Risch, I'm, we've, Jens Stoltenberg, who's, Mette Frederiksen, Stoltenberg, Rasmussen, Skip Davis, that's Organizations: German Bundeswehr, Vilnius Airport, NATO Summit, NATO, CNN, Republican, Kentucky, Associated Press, Putin, Atlantic Council, Ukraine, State Department, Center for Strategic, International Studies, Senate Foreign Relations, Danish, Center for Locations: German, Vilnius, Lithuania, Russian, Ukraine, Sweden, Eastern Europe, United States, Israel, Moscow, Finland, U.S, Russia, Kyiv, Poland, Estonia, Latvia, Czech Republic, Turkey, Stockholm, Idaho, Hungary, Baltic, Norwegian, Danish
These are the cruise ships with the best and worst sanitation report cards in 2023 so far. There's nothing like a stomach virus to ruin your vacation, as hundreds of cruise ship passengers have unfortunately learned this year. "People often associate cruise ships with acute gastrointestinal illnesses such as norovirus, but acute gastrointestinal illness is relatively infrequent on cruise ships," the CDC explains on its website. In the past 10 years, only three other cruise ships have received sanitation scores below 70, CDC records show. These are the cruise ships with the highest and lowest sanitation scores so far this year:The 15 cruise ships with perfect scores of 100The majority of cruise ships have received CDC sanitation scores in the high nineties this year.
Persons: Gerard Bottino Organizations: CDC, Morning, Health, Vessel Sanitation, MSC, MSC Cruises, Royal Caribbean International Cruise, Seas Royal Caribbean, Cruise Lines, Inc, Sunshine, Disney, Disney Cruise, Cruise Management, Joy Norwegian Cruise, Pearl Norwegian Cruise, Riviera Oceania, Rotterdam Holland America, Silversea Cruises, Getty Locations: United States, Rotterdam
Only a handful of companies are responsible for most of the index's gains thus far, including the likes of Nvidia (NASDAQ: NVDA ), Meta (NASDAQ: META ) and Tesla (NASDAQ: TSLA ). The good news is market breadth improved beginning in late May and leadership has expanded to include cyclical sectors and industries. Still, these firms have become so expensive relative to the broader market that some analysts have recently begun downgrading them. More from Personal Finance:As July 4 motorists kick off summer travel, how to save on gasWhat to know about your rights as an air travelerHow travelers are booking vacations amid inflationOne place to start could be cruise companies: Carnival Cruise Line (NYSE: CCL ), Norwegian Cruise Line (NYSE: NCLH ) and Royal Caribbean International (NYSE: RCL ). Perhaps no other industry took it on the chin as hard during the pandemic, which halted sailings for months.
Organizations: NASDAQ, Nvidia, Meta, Tesla, Finance, NYSE, Cruise Line, Royal Caribbean International
A foul stench filled the hot summer air, much of Jenin was left without running water or power during Israel’s largest incursion in the occupied West Bank in decades. Widespread devastationFor many Palestinians, Jenin is a name and a place synonymous with suffering and resistance. Now it is a built-up and densely populated area with one of the highest rates of poverty and unemployment in the West Bank, according to the UN. At least 50 shooting attacks toward Israelis have emanated from Jenin, according to the Israeli military. Last year was the deadliest year on record for both Palestinians and Israelis across the West Bank and Israel in more than a decade.
Persons: , Abu, Wafa, alleyways, Israel, Israel’s, Muhammad Darwish, Hanaa, , Shalaby, Benjamin Netanyahu’s, Netanyahu, Najwa, ” Israel Organizations: West Bank CNN —, West Bank, AK, Jenin Brigade, United Nations, UN, CNN, UNRWA, Norwegian Refugee Council, Israel, NRC, Palestinian Authority Locations: Jenin, Palestine, West, Israel
The springs were exposed by retreating glaciers in Svalbard, a Norwegian archipelago in the Arctic Ocean. Scientists think the methane in the Svalbard springs comes from somewhere else. The researchers estimate springs across the archipelago alone could represent about 2,000 tonnes of methane emissions a year. Scientists have found springs full of methane bubbling near retreating glaciers in Svalbard. Kleber suspects these methane emissions are only one of several "invisible feedback loops that we're just not aware of."
Persons: , hasn't, Gabrielle Kleber, Kleber, Andy Hodson, ", Rick Spinrad Organizations: Service, University of Cambridge, Nature Geoscience, International Energy Agency, NOAA Locations: Svalbard, Norwegian, Alaska, Norway
Many top performers in the stock market for the first half of this year were exactly what you would expect, if you’ve been following the news. Tesla, the electric vehicle champion, wasn’t far behind. But what were cruise ships doing near the very pinnacle of the stock market listings? At midyear, three of the big cruise companies — Carnival, Royal Caribbean Group and Norwegian Cruise Line Holdings — were among the top 10 stocks in the S&P 500. Consider that only three years ago, in the first months of the coronavirus pandemic, all cruise lines suspended operations and that in the ensuing months, the shares of publicly traded cruise companies were devastated.
Persons: you’ve, Tesla, wasn’t Organizations: Nvidia, Meta, Facebook, Royal Caribbean Group, Cruise Line Holdings
Norwegian Air to buy regional peer Wideroe for $106 mln
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +1 min
OSLO, July 6 (Reuters) - Norwegian Air (NAS.OL) has agreed to buy domestic peer Wideroe for 1.13 billion crowns ($106 million) as the reborn airline looks to strengthen its position in its home region. "The transaction is expected to provide significant benefits for travellers, employees and shareholders, and to strengthen the combined Norwegian and Wideroe as a key part of critical domestic infrastructure," Norwegian Air said in a statement. An important part of the regional infrastructure, Wideroe owns 40 Bombardier Dash 8 aircraft, and three Embraer E190-E2 jets, with seat numbers in each plane ranging from 39 to 110. The deal comes only two years after Norwegian Air emerged from bankruptcy protection with a smaller fleet and its debt almost wiped out, having raised cash. Norwegian Air said the two carriers had very limited overlap on routes, and it saw potential annual synergies from the acquisition of 200-300 million crowns ($18.8-28.2 million).
Persons: Privately, Wideroe, Louise Breusch Rasmussen, Anna Ringstrom, Mark Potter Organizations: Bombardier Dash, Embraer, Norwegian Air, Boeing, Victoria, Thomson Locations: OSLO, Norwegian, Scandinavia's
Wimbledon has dubbed Thursday "Environment Day" and began it with a panel discussion hosted by former footballer-turned TV presenter Gary Lineker. But I think it’s like ‘come let's work as a team, collaborate'. It's never going to be perfect, but at least we can try to work together." "Don't think of us as competitors, think of us as potential collaborators and allow the amplification that our athletes and that sport can give to this," he said. Wimbledon responded by saying Barclays was committed to "creating access to sport for all" and that having a positive impact on the environment is central to the tournament.
Persons: Katie Boulter, Daria Saville, Hannah Mckay LONDON, Gary Lineker, Briton Heather Watson, It's, Monica Seles, Suzann Pettersen, Sebastian Coe, Hannah Mills, Mitch Phillips, Ed Osmond Organizations: Lawn Tennis, Croquet Club, Wimbledon, golf's Solheim, World, Diamond League, Barclays Bank, Barclays, Thomson Locations: London, Britain, Germany, Norwegian, Stockholm
Britain's Broady finally gets his Wimbledon moment
  + stars: | 2023-07-06 | by ( Mitch Phillips | ) www.reuters.com   time to read: +3 min
LONDON, July 6 (Reuters) - British wild card Liam Broady was basking in the long-awaited glory of a Centre Court victory on Thursday that had appeared to be moving beyond the 29-year-old after a career of frustration and unfulfilled potential. I played on Wimbledon Court One in the final of the juniors. "I feel like it's taken a monumental effort for me personally to be able to win a match on Centre Court at Wimbledon," he added after his 6-4 3-6 4-6 6-3 6-0 win. It is the pinnacle of the sport -it's the pinnacle of almost any sport, Centre Court of Wimbledon. "The stress from when you find out you are on Centre Court against the world number four is with you up until you step on the court and every point until you finish the match."
Persons: Liam Broady, Casper Ruud, Andy Murray, Milos Raonic, Alex de Minaur, Broady, Mitch Phillips, Ken Ferris Organizations: Wimbledon, Centre, Court, Thomson Locations: British
British wildcard Broady stuns fourth seed Ruud
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +1 min
LONDON, July 6 (Reuters) - British wildcard Liam Broady claimed the biggest win of his career and the biggest shock of Wimbledon 2023 when he stunned Norwegian fourth seed Casper Ruud 6-4 3-6 4-6 6-3 6-0 in front of a delirious Centre Court crowd on Thursday. Broady belied his 142nd ranking against a player who has reached three of the last five Grand Slam finals but had struggled at Wimbledon in his three previous appearances. Broady made the running to take the first set and though Ruud regrouped to take the next two, it never felt as if he was taking control and the Briton was the dominant force in the fourth to take it to a decider. Ruud, who said he had spent the three weeks since reaching the French Open relaxing well away from tennis, looked like he had mentally packed his bags again in the fifth as Broady ripped through it, barely dropping a point, to seal a memorable win. Reporting by Mitch Phillips, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.
Persons: Liam Broady, Casper Ruud, Broady belied, Broady, Ruud, Mitch Phillips, Ed Osmond Organizations: Wimbledon, Briton, Thomson Locations: Norwegian
"Any time you get the chance to finish a match quickly and can conserve some energy, it's a really positive thing. "He's someone who's done so much for the sport and I'll go into it with a lot of respect for him. DO OR DIE FOR LOCAL HOPESAfter three British women's players were eliminated on Wednesday, the men's contingent could also be whittled down considerably on Thursday. In addition to Murray, wildcard Jan Choinski will take on Poland's Hubert Hurkacz for a place in the third round, while Liam Broady faces a stern test against Norwegian fourth seed Casper Ruud. In the women's draw, defending champion Elena Rybakina takes on France's Alize Cornet, with fourth-seeded American Jessica Pegula up against Spain's Cristina Bucsa.
Persons: Andy Murray, Stefanos, Murray, Scot, Ryan Peniston, Tsitsipas, Dominic Thiem, I've, I'm, It's, Jan Choinski, Poland's Hubert Hurkacz, Liam Broady, Casper Ruud, Daniil Medvedev, Andrey Rublev, Alexander Zverev, Gijs Brouwer, Elena Rybakina, France's Alize Cornet, Jessica Pegula, Spain's Cristina Bucsa, Aadi Nair, Toby Davis Organizations: Wimbledon, Court, Thomson Locations: British, Wimbledon's, Norwegian, U.S, Bengaluru
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Let Carnival Cruise Line simmer and go to Norwegian Cruise Line, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: ZoomInfo, Carnival Cruise Lines and ASML.
Persons: Jim Cramer Organizations: Norwegian Cruise, Cruise Locations: Norwegian
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