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☆ Dollar set for fourth monthly drop as Fed meeting looms
▼ + stars: | 2023-01-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 31 (Reuters) - The dollar was eyeing a fourth monthly loss on Tuesday as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting. The U.S. dollar index is down 1.3% for January so far, though it rose 0.3% to 102.19 overnight. The Japanese yen fell 0.4% overnight but is set for its third monthly gain as markets anticipate shifts in monetary policy. Sterling and the Australian, New Zealand and Canadian dollars also made overnight losses but are set for monthly gains. Interest-rate futures indicate market expectations for a 25 basis point (bp) hike from the Federal Reserve to take the Fed funds rate window to 4.5%-4.75%.

☆ Yen perched near 7-month high as BOJ looms
▼ + stars: | 2023-01-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

SINGAPORE, Jan 17 (Reuters) - The dollar drifted off multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan. The euro reached a nine-month high on Monday at $1.0874, but was last loitering around $1.0830. The yen rose 3% against the dollar last week, and one-week implied volatility for dollar/yen is at its highest since March 2020. "The yen would explode higher, Japanese government bond yields would explode higher and global yields would go higher," he said. The New Zealand dollar held at $0.6394.

☆ Yen perched near 7-month high as BOJ decision looms
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: +3 min

A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. The dollar drifted up from multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan. The yen rose 3% against the dollar last week, and one-week implied volatility for dollar/yen is at its highest since March 2020. "The yen would explode higher, Japanese government bond yields would explode higher and global yields would go higher," he said. The New Zealand dollar held at $0.6394.

Exports, which constitute about 22% of the industry, have fallen for five months in a row - declining over 15% year-on-year in November to $3.1 billion. Domestic sales are sluggish despite strong growth in the overall economy because of high costs and cheap imported garments, manufacturers say. Reuters GraphicsIn the textile industry, manufacturers say higher domestic cotton prices and other costs have hit profit margins, while overseas orders for next summer are down by about one-third and domestic demand remains weak. "The government needs to scrap the 11% import duty on cotton so local textile mills can have a level playing field," Ganatra said. Reuters GraphicsFEAR OF JOB CUTSMany textile manufacturers, who have frozen hiring of workers, have warned of jobs cuts if the government fails to provide relief soon.

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

For October-December, (Japan's) production will likely be almost flat or slightly decrease from the previous quarter," said Shumpei Fujita, economist at Mitsubishi UFJ Research and Consulting, pointing to the global economic slowdown as a culprit. Factory output fell 2.6% in October from a month earlier on a seasonally adjusted basis, government data showed on Wednesday. Production machinery output slipped 5.4%, taking a hit from soft demand for equipment to make semiconductors and flat-panel displays. While output of compact cars for the domestic market grew, production and shipment of export-oriented larger vehicles was down due to chip shortages, the METI official said. The impact of China's recent lockdown remains unclear, the METI official said, adding the spill-over effects for Japanese manufacturers may only appear in November or December statistics.

In its earnings release Intel said it was focused on driving $3 billion in cost reductions in 2023. So driving efficiency in the factory network is way more important to our economics than people cost," Gelsinger told Reuters, adding that adjustments of flexible workforces can be "quite immediate". "We believe its data center share loss should also moderate going into next year." PC shipments fell 15.5% in the third quarter, data from Counterpoint Research showed. Chipmakers have also come under pressure from concerns that the threat of a global recession could prompt clients from the more lucrative data center market to wind down spending.

Oct 27 (Reuters) - Chipmaker Intel Corp (INTC.O) on Thursday cut its full-year profit and revenue forecast and warned it would lay off staff, but a stronger-than-expected performance at its personal computers segment helped send shares higher. Intel also cut its capital spending forecast for this fiscal year to $25 billion from a previous forecast of $27 billion. Intel has been losing market share in the data center market and Gelsinger said it lost market share again in the third quarter. But he said Intel gained "meaningful" market share improvement in the PC segment in the third quarter. Intel trimmed its full-year adjusted earnings per share forecast to $1.95 from $2.30.

☆ Inflation drives global firms eastward in Europe in search of cost savings
▼ + stars: | 2022-10-18 | by ( Michael Kahn | Anna Koper | ) www.reuters.com time to read: +5 min

PRAGUE/WARSAW (Reuters) - Central European companies that provide remote, lower-cost business services for multinationals are ramping up their expansion plans as high inflation drives global firms to push more work to the region to cut costs and bolster margins. “If we started out here as an experiment, the experiment is working.”INFLATION ATTRACTS NEW INVESTORSThe business services sector has grown from almost nothing 25 years ago to an industry employing nearly 800,000 workers across Central and Eastern Europe, an increasingly important engine for local economies. At Comdata, whose 1,500 workers in the Czech Republic and Hungary operate telephone service lines, rising inflation and costs from Western companies have kept business humming. “As more and more companies try to cut and to lower the labour costs they will be moving the services from western Europe,” Nedelnik told Reuters. “I see during the last two or three months the tenders are rapidly growing for German, French, Spanish and English-speaking roles.

☆ Lilium aims to build 400 air taxis a year, seek grants
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +3 min

PARIS, Sept 28 (Reuters) - German air taxi developer Lilium Air Mobility plans to set up industrial capacity to make some 400 of its electrically powered Lilium Jet flying shuttles a year, while tapping schemes that provide public research support, its new chief executive said. But the challenges of securing certification and funding the innovations such as fresh battery technology have weighed on the new sector. Register now for FREE unlimited access to Reuters.com Register"I am pushing hard (for) a production system for 400 aircraft. "Let's size it and let's see how we have to design a production system including the whole supply chain for 400 aircraft," Roewe said after a quarterly shareholder update. The company is planning for the first time to tap standard public sources of funds such as research grants, Roewe said.

☆ How Blackstone, the private equity giant behind cult-favorite sunscreen Supergoop, is thinking about its next big consumer bet
▼ + stars: | 2022-09-26 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +6 min

The growth of e-commerce has opened new private equity opportunities, a top investor said. The $941 billion private equity firm took a majority stake in Supergoop last December. The investment valued Supergoop, which makes sunscreen and sun protection-focused makeup, at some $600 million to $700 million at the time, Bloomberg News reported. "What is at work here is the colossal, growing nature of private equity everywhere," said Carter Dougherty, communications director for the progressive advocacy coalition Americans for Financial Reform. Some $78 billion of that is in private equity, with the rest across real estate, hedge fund solutions, and credit and insurance, according to filings.

☆ The ultimate guide to cannabis legalization in New York: The key dates to know, and which stocks could benefit the most.
▼ + stars: | 2022-08-19 | by ( Yeji Jesse Lee | Jeremy Berke | ) www.businessinsider.com time to read: +8 min

In the Empire State, recreational marijuana sales could balloon to $7 billion once the market is fully established. The state's limited medical cannabis program has also seen expansion under the new adult-use bill. The list of qualifying medical conditions for medical cannabis was expanded, along with product options. The exceptions to this may be existing medical operators wishing to transition to adult-use and microbusinesses. Analysts say this makes sense as the industry matures and cannabis companies begin to think of themselves as consumer product companies.

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