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The cumulative effect of it all on democracy would be so significant that regulators ought to be paying close attention. The Pioneer deal not only seems to be a huge bet to take advantage of that expected failure; it is also a commitment to contribute to the failure. Larger, consolidated oil companies have incentives to restrain production, restricting supply to artificially sustain high prices. Higher oil prices would mean higher gasoline prices at the pump — a classic antitrust concern. Her legal team could make a case built around the potential harm the deal would do to competition in the oil market.
Persons: Lina Khan’s Organizations: Exxon, Federal Trade Commission, Pioneer Locations: Paris, Texas
[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. "It has all the hallmarks of intervention in all honesty," said Michael Brown, market analyst at Trader X in London. The dollar fell 0.71% to 149.165 yen hovered near break-even against the euro . The yen is a particular casualty of the dollar's march to 10-month highs and the rise in Treasury yields, given a yawning gap between U.S. and Japanese interest rates. Gold prices languished near a seven-month low, weighed down by a robust dollar and elevated bond yields as the likelihood of U.S. rates staying higher for longer dominated sentiment.
Persons: Brendan McDermid, Michael Brown, Ronald Temple, Raphael Bostic, Bostic, Shunichi Suzuki, Suzuki, Brent, Ankur Banerjee, Jamie Freed, Susan Fenton, Jan Harvey, Deepa Babington, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Global, Federal Reserve, Trader, Labor, Survey, Lazard, U.S, Dow Jones, Nasdaq, Atlanta Fed, Thomson Locations: New York City, U.S, London, New York, Japan, Singapore
Asian stocks slip on rate worries, yen in focus
  + stars: | 2023-10-03 | by ( Ankur Banerjee | ) www.reuters.com   time to read: +4 min
U.S. Federal Reserve officials said that monetary policy will need to stay restrictive for "some time" to bring inflation back down to the Fed's 2% target. Still, the hawkish rhetoric from the Fed officials comes as an ongoing debate over another possible rate hike this year rages on. "If it were down to us, we would wait for another month of rising inflation and the third-quarter inflation numbers. The yen was last at 149.83 per U.S. dollar in Asian hours, having scaled a fresh near 12-month low of 149.895 earlier in the session. The dollar index , which measures the U.S currency against six major rivals, rose 0.093% to scale a fresh 10-month peak.
Persons: Hong, Michelle Bowman, Rob Carnell, Shunichi Suzuki, Brent, Ankur Banerjee, Jamie Freed Organizations: Federal Reserve, Japan's Nikkei, . Federal, Fed, Reserve Bank of, Reuters, ING, Japanese Finance, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Reserve Bank of Australia
[1/2] A worker clears debris so delivery vehicles can exit a FedEx Ground distribution center in this aerial photograph taken over Carson, California, U.S., September 16, 2022. "They have to fight for every package right now, it's great for shippers," said LJM Consultants partner Kenneth Moyer, a former UPS pricing negotiator who now works with delivery customers. The world's biggest parcel delivery firm added it is using price negotiations to encourage attractive high-margin or high-volume customers, while discouraging high-cost deliveries. Third quarter ground delivery rates are forecast to fall 0.55% per package versus a the year earlier period, according to the TD Cowen/AFS Ground Pacrel Freight Index. But experts are skeptical, particularly as UPS offers to cover early termination fees for customers that switched to FedEx.
Persons: Bing Guan, That's, Kenneth Moyer, Deyman Doolittle, Wall, Moyer, Mark Taylor, Taylor, Satish Jindel, ShipMatrix, Micheal McDonagh, Yokeley, Lisa Baertlein, Ben Klayman, Aurora Ellis Organizations: FedEx, REUTERS, United Parcel Service, UPS, U.S . Postal Service, LJM, Cowen, Reuters Graphics Reuters, Teamster, Department, USPS, Amazon, AFS Logistics, International Brotherhood of Teamsters, Teamsters, Thomson Locations: Carson , California, U.S, Macy's, Los Angeles
The dollar's dominance is sticky, political scientist Carla Norrlöf wrote in Project Syndicate. A de-dollarization collective is also unlikely as countries could lose access to the US security guarantee, Norrlöf said. "Governments would need to sever economic and political ties to the US. A de-dollarization collective is also unlikely as countries would lose access to the US security guarantee, Norrlöf said. Even governments who are not direct beneficiaries of American defense would hesitate to worsen relations with the US, a leading military power.
Persons: Carla Norrlöf, Norrlöf Organizations: Project Syndicate, Service, University of Toronto, Atlantic Council, greenback Locations: Wall, Silicon, China, Russia
"We leveraged our union's most powerful weapon: the right to strike," Unifor said of the tentative deal in a statement. Unifor had sought improved wages and pensions, as well as support in the transition to electric vehicles and additional investment commitments by Ford. The Canadian union will now turn to getting deals with General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI), whose deadlines had been extended while the Ford talks proceeded. The UAW has said it will announce strikes against more U.S. plants on Friday if no serious progress is made in talks with automakers. Many UAW workers are most concerned about the tiered wage structure that they say has created a yawning gap between newer and older employees, forcing some to work two jobs to make ends meet.
Persons: Unifor, Stellantis's Ram, Ford, Roxanne Stadtfeld, Anirudh Saligrama, Ben Klayman, Richard Chang, Jamie Freed Organizations: DETROIT, United Auto Workers, Detroit Three, Ford, General Motors, Chrysler, Reuters Graphics, Ford Bronco, Chevrolet, UAW, GM's, Silverado, DoorDash, Thomson Locations: Canada, Canadian, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado, Ohio, Michigan, Monroe , Michigan, Bengaluru, Ben, Detroit
The nearly week-old United Auto Workers strike against Ford (F.N), General Motors (GM.N) and Stellantis (STLAM.MI) is viewed as a signal of the strength of the U.S. labor movement that has garnered national support from Americans. The UAW members from two striking plants gathered in Toledo were rolling out for the one-hour, 45-mile (72 km) drive to Wayne, Michigan, where Ford workers also walked off the job last week. In Michigan, Ohio and Missouri, the three states where workers are currently striking, models made by the Big Three dominate the leaderboard of new auto registrations. The United States is still the second-largest car market in the world, trailing only China. Union membership has fallen steadily over several decades in the United States.
Persons: Esperanza Ledesma, I'm, Ledesma, Roxanne Stadtfeld, Stadtfeld, Randi Weingarten, Liz Shuler, Weingarten, Brandon Cappelletty, Cappelletty, Ben Klayman, Joe White, David Gaffen, Jamie Freed Organizations: Fords, United Auto Workers, Ford, General Motors, UAW, GM, Big, P Global, Union, American Federation of Teachers, AFL, Thomson Locations: TOLEDO , Ohio, Toledo, Stellantis's, Ohio, Michigan, Wayne , Michigan, Monroe , Michigan, Lake Erie, Michigan , Ohio, Missouri, United States, China, U.S, Toledo , Ohio, Detroit
That professionalisation has underpinned the success of the ninth Women's World Cup, which ended on Sunday with Spain beating England by a single goal in a final that pitted the two European countries with the strongest domestic leagues against each other. Attracting record crowds and television audiences, the tournament buoyed hopes that the women's game can start to bridge the yawning financial gap that exists with the men. TV BLACKOUTIn broadcast rights, the women's game has struggled to compete. The FIFA president, Gianni Infantino, threatened Europe's "Big 5" nations with a TV World Cup blackout unless their broadcasters upped their offers. But both Chadwick and Carlota Planas, a Spain-based women's' football agent representing several World Cup players, argued that the women's game now offers the values of tenacity, resilience and togetherness, which can appeal to advertisers.
Persons: Stoke City's, Molly Holder, Spain's, Olga Carmona, Sunday's, Gianni Infantino, Jill Ellis, Lisa Parfitt, Jill Scott, Chloe Kelly, Ella Toone, Kieran Maguire, Simon Chadwick, Chadwick, Carlota Planas, Planas, let's, Holder, Kate Holton, Nick Mulveney, Helen Reid, Suban Abdulla, Matt Scuffham Organizations: Stoke City women's, Reuters, Stoke City FC, REUTERS Acquire, Stoke, Spain, England, Deloitte, Real Madrid, Real Madrid men's, FIFA, Women, Football, Germany, University of Liverpool, Wembley, Super League, men's Premier League, Manchester City, Arsenal, School, Thomson Locations: Stoke, Trent, Britain, Handout, STOKE, England, MADRID, Spain, France, Germany, Italy, United States, Manchester, Chelsea, Liverpool, Sydney, London
Morning Bid: China sets sombre tone with property turmoil
  + stars: | 2023-08-18 | by ( ) www.reuters.com   time to read: +3 min
REUTERS/Staff/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Kevin BucklandChina continues to set the mood for markets, and the tone is unswervingly sombre. Such hopes may have bolstered Chinese property shares in the Asian morning, but the wider markets in China and the rest of the region were gloomy. The Hang Seng Index sank about 0.7%, with mainland Chinese, Japanese and South Korean shares all also down. The People's Bank of China was signalling its intent to shore up the yuan again today, setting the official mid-point a whopping 1,000 pips stronger than the Reuters estimate. And with U.S. benchmark yields heading for pre-financial crisis highs, the yield gap between the two economies is yawning.
Persons: Kevin Buckland China, China Evergrande, Will, Philip Lane, Kevin Buckland, Edmund Klamann Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, South, People's Bank of, Fed, Bank of England, ECB, Thomson Locations: Frankfurt, Silicon, Germany, China, U.S, People's Bank of China, Will China, Japan, Tokyo, Europe, Asia
On Our National Mall, New Monuments Tell New Stories
  + stars: | 2023-08-17 | by ( Blake Gopnik | ) www.nytimes.com   time to read: +2 min
Combine those three terms, and you often end up in a glorious muddle. For just one month, Friday, Aug. 18 through Sept. 18, the National Mall will be hosting “Pulling Together,” an open-air exhibition that tests what works best, or fails least, when artists, publics and monuments are brought together. “Pulling Together” makes room for monuments that talk, for instance, about Black church leaders with AIDS, about the schoolchildren who cut through Washington’s color line, and about Asian migration after America’s war in Vietnam. (One shocking absence: art that addresses the sexism undermining half the world’s humans. The show is planned as the first installment in “Beyond Granite,” a series of temporary public projects led by the Trust for the National Mall with the National Capital Planning Commission and the National Park Service.
Persons: Paul Farber, Salamishah Tillet, Lincoln, Farber Organizations: Art, AIDS, Trust, National Capital Planning Commission, National Park Service, Rutgers University, The New York Times, Mellon Foundation Locations: Vietnam, Philadelphia
But a key factor behind the yen's weakness is unchanged, namely the yawning yield gap with the United States. Yet currency traders remain nervous about provoking intervention, as the yen entered the same zone that triggered heavy dollar selling by Japanese authorities in September and October of last year. For now, traders are testing the waters by selling the yen against sterling and the Swiss franc, mindful that selling against the dollar could gather momentum quickly. From a purely macroeconomic perspective, Kichikawa said, officials have no imperative to prevent yen weakness before 150, which is consistent with the mild inflationary pressure that the BOJ aims to foster. The bond market, which precipitated the yen's slide, may ultimately give Japan's authorities reason to hold off on pressing the intervention button.
Persons: Shunichi Suzuki, Suzuki, Aaron Hurd, Masayuki Kichikawa, Brent, Kichikawa, Shinichiro Kadota, Kevin Buckland, Saqib Iqbal Ahmed, Simon Cameron, Moore Organizations: Bank of Japan, Finance, State Street Global Advisors, Swiss, Brent, Sumitomo Mitsui DS Asset Management, Treasury, Barclays, Thomson Locations: TOKYO, United States, Tokyo, Boston, Japan
And it served its intended purpose: to naturalize inequality of status and resources in an era defined by its yawning gaps between haves and have-nots. I mention all of this as context for Richard Hanania, a rising star among conservative writers and intellectuals. For years before appearing in the pages of newspapers and publications like this one, Hanania wrote articles for white supremacist publications under a pseudonym. “The reason I’m the target of a cancellation effort is because left-wing journalists dislike anyone acknowledging statistical differences between races,” he recently wrote. But his supposedly transgressive views are little more than the warmed-over dogmas of the long-dead ideologues who believed in the scientific truth of race hierarchy.
Persons: , , Nell Irvin Painter, Brigham, Adam Cohen, Carrie Buck, John D, Rockefeller, Edwin Black, ” eugenicists, Richard Hanania, Hanania, Christopher Mathias, ” Hanania, ideologues Organizations: White People, Poland, Northwestern, American Eugenics, Rockefeller Jr, The Huffington, Blacks, New, Locations: Russia, Italy, , New York City
The Russian currency fell nearly 25 percent since the beginning of the year. “The ruble exchange rate is only an indicator,” said Alexandra Prokopenko, a nonresident scholar at the Carnegie Russia Eurasia Center and a former Russian central bank official. The ruble plummeted to as low as 135 per dollar and the central bank took a series of dramatic measures, including capital controls, to stave off a full-blown meltdown. The most immediate concern for Russian financial policymakers is the possibility of significant inflation. The country’s central bank reacted to that risk late last month with a higher-than-expected rise in interest rates, to 8.5 percent.
Persons: , Alexandra Prokopenko, Vladimir V, Putin, Yevgeny V Organizations: Bank of Russia, Carnegie Russia Eurasia Center Locations: Moscow, Russia, Russian, Ukraine, Soviet Union
In the two months since hedge funds began bailing on their record net short position in S&P 500 futures their equity returns have accelerated, narrowing the yawning year-to-date underperformance versus the broader market. Against that backdrop, perhaps not, although the weekly momentum on funds' S&P 500 futures positioning is the most bullish since December 2021. Reuters ImageReuters ImageReuters ImageThe latest CFTC figures show that hedge funds' net short position in e-mini S&P 500 futures at the end of July was around 200,000 contracts, the smallest net short since March. Just two months ago, at the end of May, funds were net short to the tune of 434,000 contracts, the largest net short position on record since these contracts were launched in 1997. If equity strategy-based hedge funds are slowly turning their poor 2023 performance around, their macro fund peers continue to struggle.
Persons: Brendan McDermid, Jamie McGeever, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, HFRI, Futures, Reuters, CFTC, ICE, Thomson Locations: New York City, U.S, ORLANDO, Florida
That solace, though, is an illusion, and so too is the idea that the United States was eliminated by a millimeter. There is a certain irony in the fact that it was against Sweden that the United States, so limp and insipid earlier in the tournament, started to show signs of life. There were glimpses, in Melbourne, Australia, of what this team might one day be. The United States was only in position to be knocked out by Sweden because it had failed to beat both the Netherlands and — more troubling — Portugal in the group stage. The United States, the two-time reigning champion and pretournament favorite and great superpower of women’s soccer, won only one game in Australia and New Zealand, and that was against Vietnam.
Persons: Naomi Girma, Lindsey Horan, Sophia Smith, Trinity Rodman, Lynn Williams Locations: United States, Sweden, Melbourne, Australia, Netherlands, Portugal, New Zealand, Vietnam, Sydney
But as the arraignment played out on Thursday, it felt like we had all been there before. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Trump was arraigned on Thursday over charges related to efforts to overturn the results of the 2020 election. But compared to his two impeachments and the made-for-TV Capitol riot hearings — all of which accused Trump of serious wrongdoing — the most recent indictment and arraignment felt largely humdrum. But in this case, he's a former president charged with trying to change the outcome of an unfavorable election.
Persons: Trump, Donald Trump, he's, John Lauro, Biden, Charlie Savage, yawning, homed, Martha MacCallum, Andrew McCarthy, we've, Joe Biden Organizations: Service, White, Capitol, Trump, CNN, Truth, Justice Department, New York Times, Fox News, GOP, Monmouth University Locations: Wall, Silicon, Manhattan, Georgia
The BOJ's decision shook markets on Friday and contrasted sharply with Ueda's more cautious comments in recent months about the dangers of retreating too quickly from accommodative Kuroda-era policies. "There's also a small but probable risk of inflation overshooting in Japan, which gave the BOJ reason to act." NEW PRIORITIESThe BOJ's policy decision last week signalled to investors that it would now allow the 10-year government bond yield to move closer to 1% before it intervenes. 'BIT BY BIT'The shift in thinking gained momentum at the BOJ's June policy meeting, but not enough to turn the tide. It was a test case, or a preliminary exercise, toward future policy normalisation," said former BOJ board member Takahide Kiuchi.
Persons: Issei Kato, Kazuo Ueda, Haruhiko Kuroda, Fumio, accommodative Kuroda, Ueda, YCC, There's, Hirokazu Matsuno, Seiji Adachi, Asahi Noguchi, Ryozo Himino, Shinichi Uchida, Uchida, Masato Kanda, Kanda, Takahide, Leika Kihara, Takaya Yamaguchi, Takahiko Wada, Kentaro Sugiyama, Yoshifumi, Sam Holmes Organizations: Bank of Japan, REUTERS, TOKYO, Bank, Ueda, Reuters, BIT, Asahi, Nikkei, Thomson Locations: Tokyo, Japan
BP appeal requires more than short-term sweeteners
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Aug 1 (Reuters Breakingviews) - Bernard Looney is throwing cash at BP’s (BP.L) shortcomings. In the three months to the end of June the $109 billion European oil major missed expectations by a wide margin, with net income falling 70% to $2.6 billion year-on-year. Wael Sawan, his counterpart at rival Shell (SHEL.L) who only took the helm this year, has refocused his company on “molecules” – from oil and gas to low-carbon hydrogen and biofuels. But Shell has done better, and Bernstein analysts recently estimated BP was trading at a yawning 87% discount to the sum of its parts. The risk for Looney is that if investors want to own one European oil major, it won’t be his.
Persons: Bernard Looney, Looney, Wael Sawan, Shell, Bernstein, won’t, Yawen Chen, Steve Cohen, , George Hay, Pranav Kiran Organizations: Reuters, Shell, outperforming, Exxon Mobil, Chevron, BP, Twitter, Sequoia, Thomson Locations: outperforming U.S, India
In October 1935, President Franklin D. Roosevelt had his administration send letters to thousands of clergy across the country, asking if the New Deal was helping their communities. Ellis, a Black pastor in Hot Springs, Ark., wrote, “especially as it relates to the Negro group.” J.W. The New Deal, more than one newspaper proclaimed, was also a “Raw Deal.”Eight decades later, that charge still hangs in the air. Conservatives have long assailed the New Deal, which radically expanded the government’s involvement in the economy, as the epitome of big-government overreach. But in recent years, progressives have increasingly argued that this pillar of 20th-century liberalism rested on a Jim Crow foundation, and laid the groundwork for the yawning Black wealth gap that persists today.
Persons: Franklin D, Roosevelt, J.H, Ellis, J.W, Hairston, Jim Crow Organizations: Conservatives Locations: Hot Springs, Asheville, N.C
It has been a hundred years since D.H. Lawrence published “Studies in Classic American Literature,” and in the annals of literary criticism the book may still claim the widest discrepancy between title and content. Not with respect to subject matter: As advertised, this compact volume consists of essays on canonical American authors of the 18th and 19th centuries — a familiar gathering of dead white men. Some (Nathaniel Hawthorne, Herman Melville, Walt Whitman) are still household names more than a century later, while others (Hector St. John de Crèvecoeur, Richard Henry Dana Jr.) have faded into relative obscurity. My point is that nobody ever read them like Lawrence did — as madly, as wildly or as insightfully. “Studies in Classic American Literature” is as dull a phrase as any committee of professors could devise.
Persons: Lawrence, Nathaniel Hawthorne, Herman Melville, Walt Whitman, Hector St, John de Crèvecoeur, Richard Henry Dana Jr, Melville’s, Moby, Dick, , Farmer ”, Organizations:
REUTERS/Dado Ruvic/IllustrationORLANDO, Florida, July 26 (Reuters) - Remember the U.S. twin deficits? The dollar did fall - around 40% between the dotcom bust and the global financial crisis - and the twin deficits were a factor. Indeed, when the twin deficits really exploded in 2008 as the government and Fed fought to prevent another Great Depression, the dollar actually rose 25%. "Twin deficits are inherently unsustainable – for Treasuries and the dollar - unless there is a shift towards a deflationary environment that stimulates demand for sovereign debt instruments," Costa said. Persistently wide twin deficits will test the appetite to use the dollar as the savings currency of choice for investors and countries around the world.
Persons: Dado Ruvic, Mark Carney, Tavi, Costa, Meera Chandan, Octavia Popescu, Bill, Jamie McGeever, Tomasz Janowski Organizations: REUTERS, Fed, Reuters, Bank of England, Crescat, Treasuries, United, Office, Thomson Locations: ORLANDO , Florida, U.S, Britain, United States, Americas, Washington
The far-right governing coalition’s plan to weaken the courts has set off months of unrest that threatens to widen Israel’s social fissures into yawning chasms. But the next showdown did not begin immediately — the streets were fairly quiet on Tuesday — and may not do so for months. Doctors walked off the job to protest the new law, but just for a day. “People are still trying to figure it out,” said Josh Drill, a spokesman for the alliance. “Because yesterday was such an intense day, the different groups are still in deliberations,” he added.
Persons: Doctors, , Josh Drill Organizations: Locations: Israel
Women’s World Cup: Sweden Rallies Past South Africa; the Netherlands Gets Started Sunday’s schedule includes three of the tournament favorites. Give this articleNetherlands v. Portugal Molly Darlington/Reuters Netherlands v. Portugal Molly Darlington/Reuters Netherlands fans Lars Baron/Getty Images Sweden v. South Africa Amanda Perobelli/Reuters Sweden v. South Africa Andrew Cornaga/Associated Press Sweden v. South Africa Amanda Perobelli/Reuters Sweden v. South Africa Andrew Cornaga/Associated Press Sweden v. South Africa Andrew Cornaga/Associated Press Sweden v. South Africa Andrew Cornaga/Associated Press Wellington, New Zealand Catherine Ivill/Getty Images Team France Carl Recine/Reuters Published July 23, 2023 Updated July 23, 2023 1 Netherlands Group E 0 Portugal 2 Sweden Group G Full Time 1 South Africa Fridolina Rolfo (65’) Amanda Ilestedt (90’) Hildah Magaia (48’) – France Group F – JamaicaSweden survives a scare against South Africa. Much was made before the World Cup of the potential gap between the eight first-time entrants and the traditional powers. Credit... Alessandra Tarantino/Associated Press The Netherlands, Sweden and France are the teams to watch on Sunday, the fourth day of the Women’s World Cup. But if his pedigree coaching women is thin, his World Cup pedigree is long: Most recently, he coached Saudi Arabia in the men’s World Cup in December, a run that included a famous win over Lionel Messi and Argentina.
Persons: Molly Darlington, Lars Baron, Africa Amanda Perobelli, Africa Andrew Cornaga, New Zealand Catherine Ivill, Carl Recine, Africa Fridolina, Amanda Ilestedt, Hildah Magaia, John Cowpland, Fridolina Rolfo, Alessandra Tarantino, Corinne Diacre, Hervé Renard, Lionel Messi, Sophia Smith, Crystal Dunn, Andrew Cornaga, Sophia Smith’s, Smith, Katie Meyer, Meyer, , Katie, ” Smith, Naomi Girma, Girma, Katie ❤️ pic.twitter.com, AoGLUcxeMU — Naomi Girma, Organizations: Reuters, Getty, Associated Press, Team, , Jamaica, Credit, Canada, England, Haiti, United, Vietnam, Sunday, Sweden, South, U.S, Portugal, Tokyo, Wellington , New Zealand, that’s, Saudi Arabia, Stanford, U.S . Locations: Africa, Netherlands, U.S, Reuters Netherlands, Sweden, Reuters Sweden, Associated Press Sweden, Associated Press Wellington, New Zealand, Portugal, Jamaica Sweden, South Africa, United States, France, Wellington , New, that’s Portugal, Saudi, Argentina, Germany, Australia, Jamaica, Credit, States, Vietnam
[1/5] A Domino's staff member stands next to a sign for a 49-rupee pizza at a restaurant in Noida, India, July 4, 2023. A: With the world's cheapest Domino's pizza. "You are coming to the store or open the app, because there is a 49-rupee callout," he said, adding that Domino's global team supported the plans. Domino's global HQ referred queries about India to its local franchisee. When Khetarpal visited Domino's stores in Chennai and other cities, he said he saw customers emptying out their pockets and only being able to scrape together 49 rupees.
Persons: Adnan Abidi, Sameer Khetarpal, Khetarpal, Merrill Pereyra, They'll, Akshay Jatia, Westlife, It's, Devanshu Bansal, Kiran Raj, Praveen Paramasivam, Aditya Kalra, Saurabh Sharma, Jatindra, Brenda Goh, Hilary Russ, Abhirup Roy, Miyoung Kim, Pravin Organizations: REUTERS, U.S, India, Sapphire Foods, Domino's, Burger King's, Restaurant Brands, Euromonitor, Yum Brands, Global Financial Services, Pravin Char, Thomson Locations: Noida, India, CHENNAI, DELHI, America, Shanghai, San Francisco, Burger, zeroing, Pizza, New Delhi, Chennai, Burger King's India, United States, U.S, Lucknow, Bhubaneswar, New York, Singapore
Added to valuations from December, major REITs, which build, own and operate property assets, have marked down office portfolios by roughly a tenth or less over the past year. Dexus shares have fallen 28% since 2022, while Charter Hall has nearly halved. "Buyers aren't willing to pay the price from the last valuations," said Winston Sammut, an investment manager at Sequoia Financial Group and a former executive at Charter Hall. Dexus and Charter Hall did not respond to requests for comment. "We're looking to see whether the fund managers, the Charter Halls, the Centurias, the Dexus are also getting large redemptions."
Persons: Tom Westbrook, Buyers, Winston Sammut, it's, REITs, Centuria, Grant Berry, Dexus, Ping, Blackstone, Amy Pham, Sammut, Australia's, Hostplus, that's, Pham, Lewis Jackson, Scott Murdoch, Sam Holmes Organizations: REUTERS, Charter Hall, Sequoia Financial Group, Charter, Reuters, SG Hiscock, Company, Blackstone, Sydney, Pengana Capital, Thomson Locations: Epping, Sydney, Australia, SYDNEY, Canberra, United States
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