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REUTERS/Daniel Munoz/file photo Acquire Licensing RightsSYDNEY, Oct 30 (Reuters) - Australian retail sales rose at the fastest pace in eight months in September, suggesting some resilience in consumer spending which would add to the case for an interest rate hike as soon as next week. The Australian dollar rose 0.4% to $0.6360, while three-year government bond yield hit a fresh 12-year high of 4.388%. "Downside risks to household consumption have been a key focus of the RBA, but those do not look to have been realised so far." The broad softening in consumer spending has been one major reason that the RBA has left interest rates unchanged for four straight months now. However, a sustained rebound in housing prices could lend some support to household consumption.
Persons: Daniel Munoz, Ben Dorber, Taylor Nugent, Downside, Stella Qiu, Tom Hogue, Edwina Gibbs, Miral Organizations: REUTERS, Rights, Reserve Bank of, Australian Bureau of Statistics, National Australia Bank, Thomson Locations: Sydney's, Australia, Reserve Bank of Australia, Queensland
Strategizing an outfit for a concert, the 40-year-old communications professor at UNC Wilmington had gotten as far as a black stretch-knit dress from Susana Monaco. “But in photos on Instagram, a plain black dress doesn’t pop,” she said. Jones strapped on a $188 leather belt with an etched silver buckle, debonairly looping it around her dress’s slinky fabric. In the ’80s and ’90s, branded Gucci and Chanel belt buckles served as signal flares for yuppie shoppers. And gutsy dressers are cinching and sculpting sweaters, dresses, shawls and blouses with no belt loops at all.
Persons: KELLY JONES, Susana Monaco, , Jones, Halston, Tiffany, Elsa Peretti, Gucci, Miranda Kerr, Jennifer Lopez Organizations: UNC Wilmington,
CNN —Arnold Schwarzenegger is talking about aging. The former California governor, action movie star and bodybuilder says he remembers a time when his body felt “powerful.” Now, at age 76, he doesn’t feel quite the same. Schwarzenegger appeared on SiriusXM’s “The Howard Stern Show,” where he said he keeps a sense of humor about aging. “I kind of smile because every day I do look in a mirror and I say, ‘Yep, you suck,” he told Stern. “Let’s go and teach kids to be tough, to go out and do sports, to go and study, to struggle, and to go through these kind of painful moments sometimes,” he told Stern.
Persons: CNN — Arnold Schwarzenegger, Schwarzenegger, , Howard Stern, Stern, you’ve, , “ Let’s Organizations: CNN Locations: California
SYDNEY, Sept 28 (Reuters) - Australian retail sales rose modestly in August as consumers continued to cut back on spending in the face of elevated living expenses and high borrowing costs, signalling interest rates may not have to rise further. Data from the Australian Bureau of Statistics (ABS) on Thursday showed nominal retail sales rose 0.2% in August from July, missing analysts' forecast of a 0.3% gain. Sales of A$35.4 billion ($22.56 billion) were up just 1.5% from a year earlier, the lowest gain in percentage terms since August 2021. Data from Commonwealth Bank of Australia showed that younger Australians who are renting or have mortgages are cutting back on purchases, while older Australian who benefit from higher savings rates are still spending. ($1 = 1.5694 Australian dollars)Reporting by Stella Qiu; Editing by Tom Hogue and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.
Persons: Ben Dorber, Stella Qiu, Tom Hogue, Jamie Freed Organizations: Australian Bureau of Statistics, FIFA, Reserve Bank of Australia, Commonwealth Bank of Australia, Thomson
[1/3] The Kia EV9 is displayed at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File photo Acquire Licensing RightsWASHINGTON, Sept 27 (Reuters) - Hyundai (005380.KS) and Kia (000270.KS) are recalling a combined 3.37 million vehicles in the United States due to the risk of engine fires, telling owners to park outside and away from structures until repairs are complete. The automakers say brake fluid leaks can cause a short that could lead to a fire. Hyundai said it has reports of 21 fires and 21 other thermal incidents since 2017 related to the recall, while Kia has reports of at least 10 confirmed fires and melting incidents. Kia America's recall covers 1.73 million Borrego, Cadenza, Forte, Sportage, K900, Optima, Soul Rio, Sorento, and Rondo vehicles.
Persons: Kia EV9, David, Dee, Delgado, Kia, Kia America's, Forte, Sportage, Jyoti Narayan, Kanjyik Ghosh, Jan Harvey, Kirsten Donovan Organizations: New York, REUTERS, Rights, Hyundai, Kia, National, Traffic Safety Administration, Control, Tucson Fuel Cell, Santa Fe Sport, Thomson Locations: Manhattan , New York City, U.S, KS, United States, Santa Fe, Veracruz, Tucson, Santa, Bengaluru
In a survey of jobs Americans would most like to see replaced by robots, the umpire would surely rank near the top. (The MLB league official tells me that legalized gambling has not been a factor in implementing ABS.) Frustratingly, the subjective has infiltrated what initially felt like a technological problem: What does the perfect strike zone even look like anyway? The MLB league official agrees, telling me the Jetson Robot Home Plate Ump is not in their plans. "Growing up, my parents would go, 'Oh, the umpire's strike zone was small!'
Persons: Jordan Pacheco, Pacheco, John McEnroe, , Billy Beane, maniacally, Houston, it's, Ben Hurian, Paul Hawkins, Goltz, Tyler Le, Justin Goltz, he's, there's, rears, Tyler Fitzgerald, Fitzgerald, who's, FanGraphs, Bagwell crouch, Miguel Yajure, Phillip Evans, Evans, X, they'd, Dylan Yep, what's, we're, Rob Manfred, — England's, Calvin Baker, Baker, Drew Strotman, Billy Evans, Strotman, Greg Maddux, MIT grads, steph, klay thompson, alf, hite, mudge, hird, ove, ahn Organizations: Lexington Legends, Twitter, Major League, ump, MLB, Sony, NASCAR, Triple, Albuquerque, Colorado Rockies, Astros, Companies, English Premier League soccer, Rugby, NFL, NBA, ABS, Sutter Health Park, Cats, San Francisco Giants, River, Reno Aces, AAA, Atlantic League, Big, of Fame, Seton Hall Sports, MIT, hawkeyes, ust Locations: OKC, California, Sacramento, uman
London CNN —Lego has abandoned plans to make its famous bricks from recycled plastic bottles, saying that the manufacturing process would be more polluting than the current production of oil-based bricks. The toymaker has pledged to use only sustainable materials in its products by 2032 and, two years ago, unveiled a prototype brick made from recycled PET. The plastic was sourced from bottles that are typically used for water or soda. Testing also found that the recycled plastic wasn’t as durable and safe as ABS and didn’t have the material’s “clutch power,” which enables bricks to stick together and be pulled apart easily, the spokesperson added. However, Lego is “not abandoning [its] effort to make oil-free bricks” and remains “fully committed to making Lego bricks from sustainable materials by 2032.”Recycled PET is just one of hundreds of materials the company has tested as a potential replacement for ABS, the spokesperson said.
Persons: , toymaker, Lego’s, Raimonda Kulikauskiene Organizations: London CNN, Financial Times, CNN, ABS Locations: Danish, Billund
The Weitz Core Plus Income Fund (WCPNX) , which Carney co-manages with Nolan Anderson, received five stars and a bronze rating from Morningstar. Aggregate Bond Index]," Carney said. Enter, asset-backed securities. Asset-backed securities (ABS) follow in second place, making up 27.6% of the portfolio. As a result, participating in the asset-backed securities space requires a granular level of due diligence.
Persons: Tom Carney, Weitz, Carney, Nolan Anderson, Morningstar, WCPNX, There's, that's, Fannie Mae, Freddie Mac Organizations: Morningstar, Bloomberg Barclays U.S, Universal Bond, SEC, Bloomberg U.S, Aggregate Bond, Federal Reserve Bank of New, BBB, U.S, Fed Locations: Federal Reserve Bank of New York
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Persons: Dow Jones
Billions of dollars worth of student loans are packed and sold as assets known as student loan asset-backed securities to some of the biggest investors in America. But as student loans continue to balloon, experts have expressed growing concerns surrounding the SLABS market. She continued, "I think one of the key ways to uncover the similarities between student loans and mortgages is to look at the affordability issue." But the Consumer Financial Protection Bureau estimates that one in five student loan borrowers have risk factors that could cause them to struggle when federal student loan payments resume in October. Watch the video to learn more about why experts are concerned about the state of the SLABS market.
Persons: Louis, Allison Pyburn, Eleanor Xu, Elen Callahan, Xu Organizations: U.S, Federal Reserve Bank of St, U.S . Department of Education, Financial, Seton Hall University, Structured Finance Locations: America
Holiday shoppers stand in line inside a mall in the city centre of Sydney, Australia, December 17, 2020. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsSYDNEY, Aug 28 (Reuters) - Australian retail sales rebounded in July after a sharp fall the previous month, but the annual rate slowed further, a result that should not upset the outlook for interest rates as high borrowing costs work to slow consumer spending. Data from the Australian Bureau of Statistics (ABS) on Monday showed nominal retail sales rose 0.5% in July from June. Ben Dorber, ABS head of retail statistics, said the rebound was boosted by additional spending at catering and takeaway food outlets linked to the 2023 FIFA Women’s World Cup and school holidays. The rate hikes have added hundreds of dollars to average monthly mortgage repayments, weighing on consumer spending, which had been resilient at first thanks in part to savings amassed during the pandemic.
Persons: Loren Elliott, Ben Dorber, Stella Qiu, Jacqueline Wong Organizations: REUTERS, Rights, Australian Bureau of Statistics, Analysts, FIFA, Reserve Bank of Australia, ANZ, Thomson Locations: Sydney, Australia
Big-ticket items included $150,000 red-light therapy beds and $70,000 hyperbaric chambers. It's not just tech bros who seem to be obsessed with health, wellness, and longevity trends. AdvertisementAdvertisementThe Information, a subscription tech industry news site, recently conducted an anonymous poll of 500 subscribers' health and wellness habits. At Next Level Therapeutics, a wellness center in New York City, a 15-minute NovoThor full body red light therapy session costs about $55, according to its booking page. Among the general population, wellness trends like cold plunges and red light therapy are gaining popularity as the quest to live longer increasingly goes mainstream.
Persons: It's, Jeff Bezos, Mark Zuckerberg, Elon Musk, Bryan Johnson, Dustin Giallanza, they'd, James Carroll, Thor Photomedicine, Carroll, Keith Rabois, Miami Rabois Organizations: MLB, MLS, Mayo Clinic, Venture, Founders Fund, FDA, Miami Locations: Braintree, NovoThor, New York City, Mayo
A worker pushes a trolley loaded with goods past a construction site in the central business district (CBD) of Sydney in Australia, March 15, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsSYDNEY, Aug 17 (Reuters) - Australia employment unexpectedly fell in July to end two months of very strong growth, while the jobless rate ticked higher in a sign the drum-tight labour market might finally be loosening. "Even so, the deterioration in the labour market has a long way to run before the RBA can completely relax." The labour market has proved remarkably resilient with 399,000 net jobs added in the 12 months to July even as interest rates have climbed 400 basis points to a decade-high of 4.1%. "It is getting harder to argue for a sustained lift in wage inflation momentum," said Justin Smirk, a senior economist at Westpac.
Persons: David Gray, Ben Udy, Justin Smirk, Wayne Cole, Jacqueline Wong, Sam Holmes Organizations: REUTERS, Rights, Bank of Australia, Australian Bureau of Statistics, ABS, Oxford Economics Australia, Westpac, Thomson Locations: Sydney, Australia
"Wage growth has been stuck at 0.8% q/q for the past three quarters – a somewhat surprisingly slow pace given the very low level of the unemployment rate," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. Despite higher interest rates, Australia's jobless rate is hovering near 50-year low of 3.5% and the economy is adding more jobs than expected. The RBA now sees a credible path where inflation could be restrained with interest rates at their current level, minutes showed on Tuesday. The path involves annual wage growth peaking at 4.1% by the end of the year before easing back to 3.6% by end-2025, according to the bank's latest forecasts. The ABS data showed wages in the public sector picked up to an annual rise of 3.1% while growth in private sector wages increased 3.8%.
Persons: David Gray, Sean Langcake, Andrew Boak, Goldman Sachs, Stella Qiu, Kim Coghill, Sonali Paul, Simon Cameron, Moore Organizations: REUTERS, Reserve Bank of Australia, Australian Bureau, Statistics, Oxford Economics, Thomson Locations: Newcastle, Sydney, Australia, SYDNEY, Oxford Economics Australia
REUTERS/Daniel Munoz/file photoSYDNEY, Aug 3 (Reuters) - Australian retail sales volumes fell again in the June quarter as cost of living pressures and rising borrowing costs ate into consumer spending power, hampering economic growth and weakening the case for further interest rate hikes. Data from the Australian Bureau of Statistics on Thursday showed real retail sales fell 0.5% in the second quarter to A$35.2 billion ($23.02 billion), matching analyst forecasts. "The widespread fall in sales volumes reflects what retailers have been telling us about consumers focusing on essentials, buying less or switching to cheaper brands," said Ben Dorber, ABS head of retail statistics. Since sales account for around 17% of gross domestic product, the drop will weigh on economic activity and analysts expect barely any growth in the quarter. Thursday's data showed retail prices rose 0.9% in the second quarter, up from 0.7% the previous quarter.
Persons: Daniel Munoz, Ben Dorber, Alan Oster, Oster, Wayne Cole, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: REUTERS, Australian Bureau, Statistics, Reserve Bank of Australia, NAB, Thomson Locations: Sydney's, Australia
Cameo is a service through which celebrities and others can be paid to make personalized videos commemorating birthdays, bachelorette parties, divorces and the like. Mr. Jackson, 48, charges $95 for a video message and cited bills — “I have two kids” — as one reason he is on Cameo. “But you’ve got to do what you’ve got to do.”Since Cameo debuted in 2016, some actors have used it when traditional work has dried up. In 2021, as the pandemic raged, the actor Andrew Rannells joined Cameo to raise money for the Entertainment Community Fund, a nonprofit formerly known as the Actors Fund. On a recent episode of “And Just Like That…,” the “Sex and the City” reboot, the character Che Diaz, played by Sara Ramirez, starts making Cameo videos after a TV pilot is canceled.
Persons: Cheyenne Jackson, Jackson, , , , you’ve, Andrew Rannells, Che Diaz, Sara Ramirez Organizations: SAG, Entertainment Community Fund, Actors Fund
Amazon founder Jeff Bezos has had a "glo-up" in recent years since stepping back from the company. He went from eating a tin of biscuits for breakfast every morning to putting in hours in the gym. Jeff Bezos was a pretty scrawny guy when he founded Amazon in 1994. She said that Bezos "stole" her personal trainer, Wes Okerson, who has also trained celebrities like Tom Cruise and Gerard Butler. Beyond his personal diet and fitness regimen Bezos has reportedly also invested in anti-aging research company Altos Labs.
Persons: Jeff Bezos, Lauren Sanchez, Sanchez, Wes Okerson, Tom Cruise, Gerard Butler, Jeff, Bezos, Bezos's, MacKenzie Scott, Betty Crocker Organizations: Amazon, Wall Street, Pillsbury, Altos Labs
CNN —When it comes to lowering blood pressure, studies have typically shown that aerobic or cardio exercises are best. Exercises that engage muscles without movement — such as wall squats and planks — may be best for lowering blood pressure, according to a large study published Tuesday in the British Journal of Sports Medicine. “Overall, isometric exercise training is the most effective mode in reducing both systolic and diastolic blood pressure,” said study coauthor Dr. Jamie O’Driscoll in a news release. Systolic blood pressure measures the maximum pressure in the arteries as the heart contracts and relaxes, while diastolic blood pressure denotes what the arterial pressure is when the heart rests between beats, according to the US Centers for Disease Control and Prevention. The authors defined healthy resting blood pressure as a reading below 130 over 85 millimeters of mercury — a measurement of pressure known as mmHg — pre-high blood pressure as ranging from 130/85 mmHg to 139/89 mmHG, and high blood pressure as 140/90 mmHG or greater.
Persons: , Jamie O’Driscoll, Joanne Whitmore, Whitmore wasn’t, Jim Pate, wasn’t, Whitmore, ” Pate Organizations: CNN, British, of Sports Medicine, Mayo Clinic, Canterbury Christ Church University’s School of Psychology, Sciences, US Centers for Disease Control, British Heart Foundation, World Health Organization, Marylebone Health Group, Arthritis Foundation, , CNN’s Locations: Canterbury, England, London
Slowing Australia Q2 inflation lessens rate hike pressure
  + stars: | 2023-07-26 | by ( Stella Qiu | ) www.reuters.com   time to read: +3 min
In the first quarter, inflation was at 1.4%. That was balanced by a sharp fall in goods inflation, which slowed to an annual rate of 5.8% from 7.6% the quarter before. Adelaide Timbrell, senior economist at ANZ, said both headline and trimmed mean inflation are tracking below the RBA's forecast for the second quarter. "(The data) highlight that a 4.1% cash rate may be restrictive enough to bring inflation down. The RBA has warned that some further tightening may be required to bring inflation to heel.
Persons: Robert Carnell, Carnell, Adelaide Timbrell, Stella Qiu, Wayne Cole, Jacqueline Wong Organizations: Reserve Bank of Australia, Australian Bureau, Statistics, Wednesday, ING, ANZ, Thomson Locations: SYDNEY, Asia, Pacific
Jeff Bezos is the latest tech billionaire to show off his toned physique. His fiance, Lauren Sanchez, posted a picture of Bezos ascending the ladder of his yacht — shirtless. Bezos joins a string of fitness-obsessed tech billionaires, like Mark Zuckerberg and Elon Musk. Is it … shirtless tech bro summer? On Monday, Jeff Bezos' new fiance, Lauren Sanchez, posted a picture of her soon-to-be husband ascending the ladder of his new, $500 million megayacht.
Persons: Jeff Bezos, Lauren Sanchez, Bezos, Mark Zuckerberg, Elon Musk, that's, Sanchez, Wes Okerson —, Isreal Adesanya, Alex Volkanovksi, Mark Zuckerberg Mark Zuckerberg, Priscilla Chan, Mark, brawn, Musk Organizations: UFC, Zuckerberg, SpaceX, Facebook Locations: Italy, Bezos, Silicon
March 11, 1961: When Ken met BarbieThis original Ken doll from 1961 was supposed to be so handsome and magnetic that Barbie fell instantly in love. 1970s -1990s: Ken tries to be trendyEven with an ever-fashionable companion like Barbie, Ken could never quite crack it when it came to personal style, though he certainly tried. Mod Hair Ken: A quintessentially ‘70s doll with a massive mop of hair, extra-long sideburns and bonus facial hair made for mixing and matching. Totally Hair Ken: It looks how it sounds — this ’90s Ken came with a long, unkempt mane, real hair gel and a small comb his owners could use to style him however they wanted. Mattel introduced a “new and improved” Ken doll almost two years to the day after his break-up with Barbie.
Persons: CNN — “ Barbie, Ken, Barbie, He’s, cinephiles, “ Barbie, Kenneth Carson, Ryan Gosling, Ruth Handler, , They’d, Ken wasn’t, diehard Barbie, ” M.G, Yvonne Hemsey, “ hipper, Dan Savage, ” Savage, Mattel, Savage, they’d, , Russell Arons, Barbie “, ” Arons, Barbie – Blaine, Phillip Bloch, Bloch, Matthew McConaughey, Orlando Bloom, “ Ken, ” Bloch, Woody, Buzz Lightyear, Michael Keaton, hadn’t, , Valentine’s, Ryan Gosling cheesing, Gosling, Greta Gerwig, Robbie, Kenergy ”, ” Gosling, ​ Ken’s, he’s, Jimmy Fallon, I’m, Ken —, Barbie ” Organizations: CNN, Warner Bros, Discovery, Mattel, New, Historical Society, New York Times, Pixar, ascot, Valentine’s, ” CNN, Facebook, Venice Locations: Barbie’s, Willows , Wisconsin, Cali, Europe, New York, Los Angeles
The residential solar panel company has outperformed both the Invesco Solar ETF and the S & P 500 in 2023. Sunnova shares are up 25%, while the fund has lost 2%. NOVA YTD mountain Sunnova Energy shares "We remain constructive on NOVA and residential solar growth in the U.S. longer-term. That said, the macro backdrop for U.S. residential solar remains challenging," Thakkar wrote in a Friday note. "Dealer growth has been a key driver of success in a difficult environment.
Persons: Ameet Thakkar, Thakkar, Sunnova, — CNBC's Michael Bloom Organizations: Sunnova Energy, BMO, NOVA, Treasury Locations: U.S
CNN —“Barbie” comes roaring out of the gate with an inventiveness and energy the movie perhaps inevitably can’t sustain. Still, the closest kin would probably be “The Lego Movie,” which similarly took a familiar toy and built a kind of existential crisis around it. Simu Liu, Margot Robbie and Ryan Gosling in "Barbie." Courtesy Warner Bros. PicturesThe juxtaposition of those more thoughtful elements with the sheer giddiness elsewhere – alternating between the serious and the silly, between art and commerce – doesn’t always quite mesh or feel as fresh as it might. (The film is being released by Warner Bros., like CNN, a unit of Warner Bros.
Persons: CNN — “ Barbie ”, Greta Gerwig’s, Noah Baumbach, Margot Robbie, Ryan Gosling, “ Barbie ”, Ferrell’s, Helen Mirren, Barbie, Ken, Gosling’s Ken, Ariana Greenblatt, Simu Liu, Bird, Gosling, “ Justice League ”, “ Oppenheimer, , overdoing, Organizations: CNN, Mattel, America, Warner Bros, “ Justice League, Warner Bros .
They are a key source of financing for some fintech lenders, which have fewer funding options than banks. As the end of pandemic stimulus and rising inflation led delinquency rates to normalize, investors shunned the fintech ABS market late last year. Fintechs like Upstart (UPST.O), Affirm (AFRM.O) and OneMain Financial (OMF.N) say they are boosting credit quality, in another example of how lenders have been pulling back amid uncertainty over the economic outlook. Still, analysts say it is a sign the fintech ABS market is recovering. For fintech loans to borrowers with weighted average credit scores between 660 and 710, annualized net losses rose by 1.88% month-over-month to 16.61%.
Persons: Sanjay Datta, Datta, Max Levchin, Doug Schulman, OneMain, Finsight, Robert Wildhack, Kroll, Hannah Lang, Matt Tracy, Josie Kao Organizations: Wall Street, OneMain, AAA, Autonomous Research, Kroll Bond Rating Agency, Thomson Locations: Washington
Australian shoppers tempted by special offers in May
  + stars: | 2023-06-29 | by ( Wayne Cole | ) www.reuters.com   time to read: +2 min
SYDNEY, June 29 (Reuters) - Australian retail spending rebounded in May as consumers were tempted by online sales events and promotional discounting, a sign of resilience in consumption that might add to the case for another rise in interest rates. Data from the Australian Bureau of Statistics (ABS) on Thursday showed nominal retail sales rose 0.7% in May from April, when they were flat, handily beating forecasts of 0.1%. The ABS noted an early start to some end of financial year sales events boosted turnover, along with Mother’s Day and a popular "Click Frenzy Mayhem" event. However, service sector inflation remained uncomfortably high and could easily be used to justify a tightening if the RBA board felt it necessary. ($1 = 1.5103 Australian dollars)Reporting by Wayne Cole; Editing by Christopher Cushing, Robert BirselOur Standards: The Thomson Reuters Trust Principles.
Persons: Ben Dorber, Stephen Wu, Wayne Cole, Christopher Cushing, Robert Birsel Organizations: SYDNEY, Australian Bureau of Statistics, ABS, Mother’s, Reserve Bank of Australia, CPI, CBA, Thomson
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