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☆ Asia stocks feel rate pain, dollar on a roll
▼ + stars: | 2023-02-27 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

China has manufacturing surveys and the National People's Congress kicks off at the weekend and will see new economic policy targets and policies, as well as a reshuffling of government officials. S&P 500 futures were flat, while Nasdaq futures edged up 0.1%. Fed futures now have rates peaking around 5.42%, implying at least three more hikes from the current 4.50% to 4.75% band. Markets have also nudged up the likely rate tops for the European Central Bank and the Bank of England. Ten-year Treasury bonds also yield more than twice the estimated dividend yield of the S&P 500 Index, and with much less risk.

☆ A juror in Georgia's Trump investigation gabbed about her experience on TV. Experts say that's actually OK.
▼ + stars: | 2023-02-25 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

The forewoman of Georgia's special grand jury investigating Trump gave a series of media interviews. Kohrs declined, however, to answer the question on everyone's mind: Whether the special grand jury, in its still-secret report, recommended criminal charges against Trump himself. Willis empaneled the special grand jury in May 2022. Fani Willis, right, will now choose whether to impanel an ordinary grand jury to consider charges against Trump. That extra step between Kohrs's special purpose grand jury, and another grand jury that has yet to be empaneled, is another reason why Kohrs's comments are of little consequence, Rahmani said.

☆ Analysis: With record diversity on their boards, Fed bank chiefs see lower chances of policy error
▼ + stars: | 2023-02-24 | by ( Ann Saphir | ) www.reuters.com time to read: +8 min

Fed bank directors generally stay out of the limelight, but many U.S. central bankers view them as a critical resource. "I think the probabilities are far higher of achieving that gentle transition, that smoother transition," San Francisco Fed President Mary Daly told Reuters in an interview. This year, of the 108 spots on the 12 Fed bank boards, 44% are filled by women, and 41% by people of color, a review of the data shows. Still, a majority of the Fed's economists are white men, as are its top two monetary policymakers: Powell and New York Fed President John Williams. Hispanics and Latinos, Menendez notes, are a fast-growing segment of the population but are underrepresented at the Fed at all levels, including on Fed bank boards.

☆ Fed's Mester says she has hope that inflation can be brought down without a recession
▼ + stars: | 2023-02-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Cleveland Federal Reserve President Loretta Mester said Friday that interest rates likely need to keep moving higher to get inflation back to acceptable levels. In a CNBC interview, Mester said she sees the central bank's benchmark interest rate having to rise above 5% and stay there for a while. Many economists expect the Fed won't be able to achieve its inflation goal without tipping the economy into a recession. She also expressed hope that the Fed can achieve its goal without crushing a labor market that has been surprisingly resilient despite all the rate increases. We can have a healthy labor market and we can get back to price stability," she said.

☆ Ron Insana says this economy is far from typical – and finding a policy fix will be tough
▼ + stars: | 2023-02-24 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

Jim Vondruska | ReutersIn my 39 years of covering the economy, markets and business, I'm not certain that I've ever seen a "typical" business cycle as described in an economics 101 class. Finally, the Federal Reserve raises rates to bring the economy back into equilibrium, overshoots and creates yet another recession. While that sounds a lot like what's happening in the economy now, the current environment is being shaped by factors well beyond those of a "typical" business cycle. This is not a typical business cycle top, in which growth and inflation are both accelerating. That's well below the typical peak sales the industry has enjoyed at about 17 million vehicles sold.

☆ The Trump Grand Jury Media Tour
▼ + stars: | 2023-02-23 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Grand juries aren’t intended to be media spectacles, but add Emily Kohrs to the list of people who have lost their bearings in the vicinity of Donald Trump. Ms. Kohrs, age 30, was the foreperson of a Georgia special grand jury examining the possibility of criminal interference in the state’s 2020 election. The grand jury’s report hasn’t been released in full, and the public hasn’t been told whether it recommends charges against Mr. Trump, his aides, or both. Ms. Kohrs keeps teasing. As for Mr. Trump: “We definitely discussed him a lot in the room.”

☆ Stock futures rise on Wednesday evening: Live updates
▼ + stars: | 2023-02-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

S&P 500 futures gained 0.3%, and Nasdaq 100 futures jumped 0.6%. Nasdaq futures got a boost from Nvidia, which rose more than 8% after hours on better-than-expected fourth quarter earnings and revenue. Inflation "remained well above" the Fed's 2% target and the labor market "remained very tight, contributing to continuing upward pressures on wages and prices," according to the minutes. Additionally, Atlanta Fed President Raphael Bostic will speak at an event hosted by the Atlanta Fed Thursday morning. San Francisco Fed President Mary Daly will take part in a fireside chat in the afternoon.

☆ I was the original voice of Siri. Even though Apple used my voice without my knowledge, it's been a fun ride.
▼ + stars: | 2023-02-20 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +6 min

Susan Bennett is the voice actor behind Apple's first iteration of Siri, released in 2011. This as-told-to essay is based on a conversation with Susan Bennett, a voice actor based in Atlanta, Georgia. One day, while I was there recording, a voice actor for another commercial didn't show up. I unknowingly did the initial Siri recordings in 2005In July 2005, six years before Apple would introduce Siri, I made the recordings that would eventually be used for the famous personal assistant. I also connected with Karen Jacobsen, a voice actor and singer who was the original Australian Siri.

☆ The week in inflation: Data signals higher prices, possibly more aggressive Fed
▼ + stars: | 2023-02-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

A week's worth of surprising economic data sent a pretty strong message to the market: Inflation that is higher than anticipated is likely to translate into higher interest rates as well. "We are listening to the signal from January inflation data, which suggest the disinflation process may be more prolonged than we previously believed," wrote Michael Gapen, chief U.S. economist at Bank of America. The data surprises began two weeks ago when nonfarm payrolls surged by a stunning 517,000 in January , raising concerns that a resilient labor market could drive wages, and inflation, higher. The consumer price index , a closely watched inflation metric, jumped 0.5% in January, a bit more than expected. Futures pricing points to a peak, or "terminal," rate of 5.23%, according to the August 2023 fed funds futures contract.

The 51-year-old Fulton County district attorney will need that kind of tenacity if she decides to bring criminal charges against Trump, who is seeking the 2024 Republican presidential nomination. Willis, a Democrat, has taken an aggressive approach in the Trump investigation, subpoenaing some of his allies including Republican U.S. "It doesn't matter if you're rich, poor, Black, white, Democrat or Republican," Willis, who is Black, told CNN last year. Trump, who in November announced another run for the presidency in 2024, has denied wrongdoing and has called Willis a "Radical Left Prosecutor." To assist with the Trump investigation, Willis retained private Atlanta lawyer John Floyd, who wrote a guide on prosecuting state racketeering charges and worked with Willis on the teacher case.

☆ Morning Bid: What landing?
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Wayne Cole. Forget soft landing, equities seem to be betting on no landing for the U.S. economy: a sublime state where steady growth and low unemployment can co-exist with slowing inflation and higher interest rates. That at least would explain the resilience of stocks to blockbuster U.S. retail data and the rise of 10-year Treasury yields to seven-week highs. After an initial dip, Wall Street rallied into the close and futures have since nudged higher, lifting Asian markets in the process. That's a marked divergence from the Blue Chip consensus which has been tipping a sharp contraction for the quarter.

That would be the kind of tenacity Willis, 51, would need if she decides to bring criminal charges against the Republican former president. Willis, a Democrat, has taken an aggressive approach in the Trump investigation, subpoenaing some of his allies including Republican U.S. To assist with the Trump investigation, Willis retained private Atlanta lawyer John Floyd, who wrote a guide on prosecuting state racketeering charges and worked with Willis on the teacher case. Willis told a judge on Jan. 24 that a decision on whether to bring criminal charges was "imminent" after a special grand jury completed its work. Portions of the grand jury's report are expected to be publicly released on Thursday, though any recommendations on criminal charges will remain sealed for now.

☆ Microsoft and Google promised to invest in these communities. Now they’re backtracking
▼ + stars: | 2023-02-14 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

Hyosub Shin/The Atlanta Journal-Constitution/ZUMA Press WireFacebook-parent Meta, Microsoft, Salesforce and Snap have each shuttered offices or announced plans to cut back on real estate, according to recent corporate announcements, filings and local news reports. But residents also had cautious optimism about the benefits Microsoft promised to the community, according to Hope. Hope’s community isn’t alone in confronting the whiplash of Silicon Valley’s real estate pullback. An office sits vacant on October 27, 2022 in San Francisco, California. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home.

☆ Inflation rose 0.5% in January, more than expected and up 6.4% from a year ago
▼ + stars: | 2023-02-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The consumer price index, which measures a broad basket of common goods and services, rose 0.5% in January, which translated to an annual gain of 6.4%. The component accounts for more than one-third of the index and rose 0.7% on the month and was up 7.9% from a year ago. Energy also was a significant contributor, up 2% and 8.7%, respectively, while food costs rose 0.5% and 10.1%, respectively. The central bank has hiked its benchmark interest rate eight times since March 2022 as inflation rose to its highest level in 41 years last summer. That's why some Fed officials, including Powell, say they are looking more closely at core services inflation minus shelter prices in determining the course of policy.

☆ Stocks making the biggest moves premarket: Palantir, Coca-Cola, Marriott and more
▼ + stars: | 2023-02-14 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

Here are the stocks making notable moves before the opening bell on Tuesday, Feb. 14. Palantir — Shares of the software company surged 18% in extended trading after Palantir reported it made a profit in the fourth quarter, the first GAAP profit in the company's history. Marriott — The hotel stock rose nearly 2% in premarket trading after Marriott beat estimates on the top and bottom lines for the fourth quarter. Cadence Design Systems — The electronics design stock rose 5% premarket after Cadence beat estimates on the top and bottom lines for the fourth quarter, according to StreetAccount. Amkor Technology — The semiconductor stock fell about 3% premarket after Amkor's fourth quarter earnings per share came in at 67 cents, three cents below estimates, according to StreetAccount.

☆ Equatorial Guinea quarantines 200 after unknown hemorrhagic fever deaths
▼ + stars: | 2023-02-10 | by ( Amindeh Blaise Atabong | ) www.reuters.com time to read: +3 min

[1/2] People wait to cross the border into Equatorial Guinea by car and by foot in Kye-Ossi, Cameroon, May 23, 2015. Authorities have restricted movement around the two villages that are directly linked, he said, and contact tracing was ongoing. Equatorial Guinea's neighbour Cameroon on Friday restricted movement along its border after the "unexplained deaths", its Health Minister Malachie Manaouda said in a statement. Equatorial Guinea said on Wednesday that it had registered the "unusual epidemiological situation" over the past weeks in Kie-Ntem province's Nsok Nsomo district that caused nine deaths in two adjacent communities over a short period. A Cameroon district health official near the border area said around 20 deaths had been recorded on Wednesday in villages in Kie-Ntem province, which borders Cameroon's Olamze district.

☆ The Atlanta Billionaire Behind Goldman’s Latest Consumer-Lending Push
▼ + stars: | 2023-02-09 | by ( Annamaria Andriotis | Peter Rudegeair | ) www.wsj.com time to read: 1 min

A billionaire entrepreneur who owns more of Goldman Sachs Group Inc. than Chief Executive David Solomon is leading an effort to refresh the Wall Street stalwart’s Main Street lending ambitions. Goldman is shrinking Marcus, its homegrown consumer-banking business. But it is doubling down on GreenSky , a home-improvement lender it bought last year over the objection of some senior executives.

☆ Chick-fil-A just unveiled a fried cauliflower sandwich that took 4 years to develop — and it's nothing like the plant-based fast food at rivals like McDonald's
▼ + stars: | 2023-02-09 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Plant-based meat sales growth has flattened over the last several months. But, Chick-fil-A is debuting a cauliflower sandwich in three US markets next week. Next week, the Atlanta-based fried chicken chain plans to introduce its first plant-based meal, the Chick-fil-A Cauliflower Sandwich. Chick-fil-A's vegetable sandwich test also comes as demand for plant-based meats has slowed, prompting layoffs at Impossible Foods. "We explored every corner of the plant-based space in search of the perfect centerpiece for our plant-forward entrée," Stuart Tracy, culinary developer of the cauliflower sandwich, said in a statement.

☆ Maintaing diversity in tech: Firms continues Atlanta investments
▼ + stars: | 2023-02-09 | by ( Frank Holland | ) www.cnbc.com time to read: +1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaintaing diversity in tech: Firms continues Atlanta investmentsVisa says it is still hiring and remains focused on hiring Black workers and partnering with Black startups at its new Atlanta office. 27% of Atlanta's tech workers are Black compared to 2% in the Bay Area and 3% in Austin according to CBRE. 2023 could be a major turning point for diversity in tech according to a new report this week from McKinsey. If the Black tech gap isn't closed there will be $360B in lost wages and the underrepresentation will grow. Frank Holland looks at the data, the companies emphasizing diversity, and speaks with Visa's Chief Diversity Officer about the importance of the Atlanta Office.

☆ Familiar foe: No walk down Sentimental Street for Andy Reid
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +4 min

February 8 - Andy Reid will stare across the field against familiar uniforms on Sunday but he isn't going to set aside time to be sentimental. Reid is attempting to shoo away references to Super Bowl LVII in Glendale, Ariz., as the "Reid Bowl." Those Eagles Reid is referring to are center Jason Kelce, right tackle Lane Johnson, defensive tackle Fletcher Cox and defensive end Brandon Graham. Philadelphia then lost 24-21 to the New England Patriots in Super Bowl XXXIX. During the 2008 season, Reid's Eagles reached the NFC title contest but lost to the Arizona Cardinals.

☆ Delta Airlines employees to get 5% pay bump amid strong travel demand
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Delta Air Lines Inc (DAL.N) said on Tuesday that it would bump up the pay of its employees by 5%, amid an industrywide shortage of workers as airlines look to cash in on robust demand for air travel. Delta's raise includes a 5% base pay increase for ground and flight attendant employees worldwide at all steps of the pay scale and a 5% pool for eligible merit employees worldwide, the airline's chief executive Ed Bastian wrote in a memo to employees. The pay hike, which will be effective from April 1, comes at a time when airlines are coming up with attractive pay offers to retain workforce and add staff after a faster-than-expected rebound in the U.S. travel market. The carrier offered a 34% cumulative pay increase last month to its pilots over three years in a new contract after the Atlanta-based carrier's pilots voted overwhelmingly in October to authorize a strike. The latest hike includes all employees worldwide, except those covered by an industry or government requirement or collective bargaining agreement.

☆ Perfect Storm for Some Companies: Fewer Interest Deductions, Rising Rates
▼ + stars: | 2023-02-06 | by ( Mark Maurer | ) www.wsj.com time to read: +9 min

For some firms, the move shrank the amount of taxable income that can be offset by interest expenses. Higher interest rates generally lead to higher interest expenses tied to companies’ variable-rate debt, new borrowings and refinancings. The cap can hit companies’ cash flows immediately, though not necessarily their financial statements, due to timing differences in claiming the deductions. Aluminum maker and recycler Novelis plans to allocate less cash toward its venture-capital arm due to the higher interest expenses. Leveraged loans have variable rates that typically reset every one to three months, based on short-term interest rates.

☆ Popular Tool to Cut Debt Costs Loses Luster as Global Central Banks Hike Rates
▼ + stars: | 2023-02-01 | by ( Kristin Broughton | ) www.wsj.com time to read: +7 min

Corporate finance executives looking to cut their debt costs this year are likely to find one popular tool isn’t as attractive as it was when the Federal Reserve was aggressively raising interest rates in 2022. Under a cross-currency swap, a company exchanges principal and interest payments on its debt into another currency. Swaps can lose their appeal to companies when the gap between interest rates in two countries, or central banks, narrows. Corporate advisers said they expect cross-currency swap volumes to decline in the months ahead, assuming market expectations for future rate increases hold steady. That rule made it easier for companies to use cross-currency swaps and recognize the interest savings on their financial statements.

☆ Focusing on stable earnings growth helps this Olympic gold medalist beat the bear market
▼ + stars: | 2023-02-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

A mutual fund led by a gold-medal winning Olympic swimmer is rare enough, but Joe Hudepohl's Eaton Vance Atlanta Capital Focused Growth is also outperforming the stock market over the past five years. Maybe it's the former athlete's discipline and slavish devotion to patient training that's helping Focused Growth earn handsome long-run returns. " But despite falling 20.4% last year, the Focused Growth fund still enjoys a five-year annual trailing return of 13.97%, according to Morningstar. One of those long-time holdings is health technology company Danaher , which Focused Growth (EAALX) first bought in 2011, according to Morningstar. Morningstar rates the fund with five stars despite its 1.03% expense ratio, and says Focused Growth lands in the second percentile of more than 1,000 large growth funds for its five-year performance.

☆ John Malone prepares for a victory lap
▼ + stars: | 2023-02-01 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

Now the cable cowboy’s Liberty Media (FWONA.O) empire is trotting out its trademark financial razzle-dazzle to try and wring additional value out of its assets. Malone, Liberty Media’s chairman, is as renowned for his dizzying array of specialized equity issues, spinoffs and splits as he is for the telecom and entertainment companies that have been subjected to the intricate machinations. It excludes broadcaster Discovery, spun off from Liberty Media in 2005, and international broadband provider Liberty Global (LBTYA.O), hived off a year earlier. A more logical starting point would be 2001, when Malone carved Liberty Media out of telecom giant AT&T (T.N). Likewise, Liberty Media’s accompanying shakeup of its tracking stocks stands to further spotlight the value of Formula One.

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