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☆ German business group wants Berlin to offer more protection in Ukraine
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +2 min

BERLIN, April 7 (Reuters) - German companies active in eastern European have called on the government in Berlin to take on more risk and provide increased security for business in Ukraine, particularly for transport. "The federal government has to take on more risk than usual," Harms said, and it "shouldn't relieve companies of business risk but should help with creative instruments." The association's demand follows German Economy Minister Robert Habeck's promise during a visit to Kyiv this week to provide German companies investment guarantees in Ukraine as part of reconstruction efforts. "Company representatives say that these investment guarantees are necessary in order to get investment decisions through the board of directors," said Harms, who travelled with Habeck to Kyiv. More than 20 applications for such investment guarantees are in the pipeline, ministry sources said.

TOKYO, April 7 (Reuters) - The Bank of Japan (BOJ) should be cautious about changing its unconventional monetary policy for now, given financial market uncertainty due to problems in Western banks, former top financial diplomat Takehiko Nakao told Reuters in an interview. Nakao made the comments amid speculation the BOJ may abandon its yield curve control policy when new Governor Kazuo Ueda takes over incumbent Haruhiko Kuroda, whose term ends on April 8. U.S. bank failures and the buyout of Credit Suisse by UBS last month have driven financial market risk aversion. Nakao said the BOJ must carefully monitor market developments, for now, although credit anxiety was unlikely to morph into anything like the 2008/09 global financial crisis. "Yet, the BOJ cannot continue unconventional monetary policy, including ETF and REIT purchases and YCC, indefinitely.

☆ Here are the 6 stocks we traded at the start of the second quarter — and why
▼ + stars: | 2023-04-06 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

But the first week of trading of the second quarter got off to a rocky start, forcing us to recalibrate our approach to the market. But as the week progressed, stocks came under pressure amid signs the labor market is softening, fueling fresh investor fears of a recession. That prompted many investors to dump technology stocks in favor of defensive sectors like health care and consumer staples. We plan to stick with these three oil stocks, given energy prices are likely to move even higher amid ongoing geopolitical turmoil. Thursday We ended the trading week by purchasing this automation-focused industrial giant on weakness.

☆ NATO just got hundreds of tanks, 62 fighter jets, and a whole lot of artillery after Finland joined the military alliance
▼ + stars: | 2023-04-05 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Finland, Russia's neighbors, became a member of the NATO military alliance on Tuesday. It brings hundreds of tanks, 62 fighter jets, and lots of artillery and soldiers with it. Finland officially became a member of the military alliance on Tuesday, strongly motivated by Russia's invasion of Ukraine. Finland becoming part of NATO is seen as a nightmare for Russia, which considers the alliance a key threat. Alexander Stubb, Finland's former prime minister, told Axios that Russia's threats over it joining NATO can be dismissed due to the strength of Finland's military.

☆ China is waging a war on its financial industry. Some high-profile bankers are ensnared
▼ + stars: | 2023-04-05 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Last Friday, authorities opened a similar probe into Liu Liange, former chairman of state-owned Bank of China, the country’s fourth largest lender. And in January, Wang Bin, who headed state-owned China Life Insurance from 2018 to early 2022, was charged by national prosecutors with taking bribes and hiding overseas savings. They include financial giants such as China Investment Corp, the nation’s sovereign wealth fund, China Development Bank, which provides financing for key government projects, and Agricultural Bank of China, another large state-controlled lender. “The current financial crackdown is a new wave of Xi Jinping’s anti-corruption campaign against the financial sector for consolidation of his power,” said Chongyi Feng, an associate professor in China Studies at the University of Technology Sydney. But the deepening crackdown on the vast financial sector could rattle investors.

☆ Some TD shareholders urge bank to ditch or renegotiate First Horizon deal
▼ + stars: | 2023-04-04 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

Regional lenders in the U.S. face a crisis of confidence after the collapse of Silicon Valley Bank and Signature Bank last month. First Horizon shares are trading almost 30% below TD's offer price of $25 each, which points to the high risk to the deal closing. TD offered a 37% premium to buy First Horizon more than a year ago in a deal that would make TD the sixth-largest U.S. bank, operating in 22 states. Even the shareholders who support TD going ahead with the deal say it should not pay the original price proposed. A First Horizon top-20 shareholder told Reuters he expects the deal to be extended with no other changes.

☆ Branson's Virgin Orbit files for bankruptcy, to seek buyer
▼ + stars: | 2023-04-04 | by ( Joey Roulette | ) www.reuters.com time to read: +4 min

Virgin Orbit went public in 2021 through a blank-check deal, raising $255 million less than expected. Spun off from Branson's space tourism firm Virgin Galactic in 2017, Virgin Orbit air-launches rockets from beneath a modified Boeing (BA.N) 747 plane to send satellites into orbit. Virgin Orbit's strategy has been that launching small rockets from a 747 in flight would allow for short-notice launches from anywhere. Virgin Investments, a unit of Virgin Group, will provide $31.6 million in new money to Virgin Orbit through debtor-in-possession financing to fund operations while it looks for a buyer in bankruptcy, the companies said. Virgin Orbit's bankruptcy filing showed its largest creditor as London-based Arqit Ltd, which was owed almost $10 million for services and as a customer deposit.

"I feel it's a good thing that Finland is joining NATO. In Virolahti, near the Russian border due east of Helsinki, retired Finnish combat engineer Ilkka Lansivaara had hung his own NATO flag from the side of his house. Memories of Finland's close relations with Moscow to preserve independence - a tactic known as "Finlandisation" - run deep for many Finns. Finland brings a sizable, well-trained military into NATO and Russia has said it will have to take "counter-measures" to ensure Russian security in response. Meanwhile, Finland's close partner Sweden continues to wait for ratification of its NATO membership bid in the face of opposition from Turkey and Hungary.

☆ Exclusive: Russia shifts to Dubai benchmark in Indian oil deal - sources
▼ + stars: | 2023-04-03 | by ( Nidhi Verma | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/IllustrationNEW DELHI, April 3 (Reuters) - Russia's largest oil producer Rosneft (ROSN.MM) and India's top refiner Indian Oil Corp (IOC.NS) agreed to use the Asia-focused Dubai oil price benchmark in their latest deal to deliver Russian oil to India, three sources familiar with the deal said. Rosneft's chief executive Igor Sechin said in February that the price of Russian oil would be determined outside of Europe as Asia has emerged as largest buyer of Russian oil since the West imposed progressively tighter sanctions on the export. Under the new deal, announced on March 29, Rosneft will nearly double oil sales to Indian Oil Corp (IOC.NS), two of the sources told Reuters. The European Union nations stopped buying Russian oil from Dec. 5 and the Group of Seven (G7) countries joined the EU in imposing a price cap on Russian crude of $60 per barrel. The move was aimed at cutting Russia's oil revenue while maintaining stability on the global oil market.

☆ Cineworld shares tank after Regal Cinemas owner ditches plans to sell US and UK businesses
▼ + stars: | 2023-04-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Shares in Cineworld plunged more than 30% Monday, hitting their lowest level since late August, after the owner of Regal Cinemas said it planned to terminate efforts to sell its US, UK and Irish businesses. The world’s second-largest movie theater chain also announced a debt restructuring plan with lenders to help it exit bankruptcy. Cineworld — which, like many cinema operators, was hit hard by the pandemic — filed for Chapter 11 bankruptcy protection in September. In addition to the United States, the United Kingdom and Ireland, Cineworld operates cinemas in Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel. After two rounds of closures in the United States, around 500 Cineworld theaters remain across the country.

☆ Alex Marquez battles fire and damp track to take pole at Argentina GP
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +2 min

April 1 (Reuters) - Alex Marquez overcame a crash and fire on his Gresini Ducati machine in the first qualifying session to take his maiden pole position in MotoGP at the Argentina Grand Prix on Saturday, on a damp track where his tyre gamble paid off. "I did my best with the wet tyres. Later on I go in I thought there was no time to change the tyres. But we changed the tyres... and it was working, so really happy for that and looking forward to the sprint and the race." Maverick Vinales of Aprilia, who dominated Friday practice, was fifth fastest while Johann Zarco of Pramac Racing completes the second row.

☆ ETF outlook: Why Wall Street strategists aren't chasing a growth stock trade just yet
▼ + stars: | 2023-04-01 | by ( Jesse Pound | ) www.cnbc.com time to read: +6 min

The rally in growth and tech stocks in the first quarter caught much of Wall Street off-guard, but many ETF strategists are sticking to their call and not chasing the hot sectors quite yet. The big winners in the stock market during the first quarter were found among growth stocks. QQQ YTD mountain Growth stocks rebounded in the first quarter. One area that is popular among value investors is income funds, which can help investors offset market declines by generating cash. To be sure, the iShares strategy team has an improving view of growth stocks, at least in high quality names.

☆ RBA to hike rates 25 bps on April 4 but decision on a knife edge
▼ + stars: | 2023-03-31 | by ( Shaloo Shrivastava | ) www.reuters.com time to read: +4 min

BENGALURU, March 31 (Reuters) - Australia's central bank is expected to go for a final 25 basis point interest rate hike to 3.85% on Tuesday, although forecasts from economists polled by Reuters suggest the decision on whether to hike or hold rates is on a knife edge. However, eight of the 13 economists expecting a pause pencilled in a rate hike sometime in the second quarter. Although CBA and Westpac forecast a pause in April, they expect one more rate hike in the second quarter. Minutes from the March meeting showed RBA board members reconsidered the case for a pause at the following meeting, noting monetary policy was already in restrictive territory and the economic outlook was uncertain. Although the median forecast showed the cash rate would remain at 3.85% until the end of 2023, five economists predicted it to peak at 4.10%.

☆ Evangelicals say Ron DeSantis is threatening religious liberty with his support for a bill that criminalizes aid for immigrants
▼ + stars: | 2023-03-31 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

A group of Florida evangelicals on Thursday criticized a bill that criminalizes the transport of migrants. Ron DeSantis and Florida Republicans to make it a felony to knowingly transport an undocumented immigrant, calling it a potentially dangerous infringement on religious liberty. Violators could be charged with a second-degree felony under the bill, which in Florida is punishable by up to 15 years in prison. Another church leader suggested DeSantis and other Republicans were playing politics — but confusing evangelical support for the rule of law with backing for punitive measures targeting vulnerable immigrants. It's not the first time religious leaders have clashed with DeSantis, who has styled himself a warrior for the Christian faith.

☆ Finland cleared its final hurdle to joining NATO, bringing a geopolitical nightmare for Putin close to reality
▼ + stars: | 2023-03-31 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

The final holdout within NATO — Turkey — voted on Thursday to let Finland join the alliance. Finland's efforts to join NATO, motivated by Russia's invasion of Ukraine, had been delayed as Turkey held out on approving its membership. It joining NATO would more than double the length of the border between NATO countries and Russia, taking it from around 750 miles to around 1,600. Turkish lawmakers vote in favor of Finland's bid to join NATO late Thursday, March 30, 2023, at the parliament in Ankara, Turkey. Most NATO members quickly approved Finland and Sweden's requests to join, but Turkey delayed the process by months, declining to support either country.

☆ It's really hard for foreign companies to break up with Russia — and there are 3 main reasons why
▼ + stars: | 2023-03-30 | by ( ) www.businessinsider.com time to read: +7 min

One year after Russia invaded Ukraine, just 520 firms have fully exited Russia, per a Yale study. Quite simply, it's just not that straightforward for a company to get out of Russia right now — and there are three main reasons why. Companies have been trying to exit Russia in an orderly fashionMany companies were quick to announce their intent to leave the Russian market after it invaded Ukraine. Thus, companies that want to exit Russia are pressed to find buyers for their Russian operations who would continue running the business under a different brand. Multinational companies face operation challenges in their exitsBecause many foreign companies operating in Russia are multinationals, shutting operations in the country can have a domino effect on their businesses elsewhere.

☆ Factbox: Steps in Finnish, Swedish path to NATO membership
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +5 min

Hungary's parliament approved a bill this week to allow Finland to join NATO after Erdogan declared Turkey was ready to approve that bid. Turkey's parliament is expected to follow through on Erdogan's commitment with a vote this week, clearing the way for Finland to join NATO within weeks. Here are the key steps in Finland's and Sweden's path towards NATO membership so far:FINLAND AND SWEDEN SUBMIT MEMBERSHIP REQUESTThe applications, letters signed by the countries' foreign ministers, were formally handed in by Finland's and Sweden's NATO ambassadors on May 18, 2022. FINLAND FORGES AHEADAll NATO countries must ratify a would-be member's application before it can join the alliance. But NATO Secretary-General Jens Stoltenberg has said getting Sweden's application over the line is a top priority.

☆ How a Trump arrest would play out: Yes, he'll be fingerprinted. No, he probably won't be handcuffed.
▼ + stars: | 2023-03-30 | by ( Laura Italiano | Erin Snodgrass | ) www.businessinsider.com time to read: +12 min

Trump is likely to be fingerprinted, swabbed for the state DNA database, and photographed for his mugshot. Trump has been indicted in the Manhattan district attorney's five-year investigation into his personal and business finances, Insider reported Thursday, but he'll be treated like any defendant moving forward — with many key exceptions. "That's called 'walking it through,'" explains Diana Florence, a former white-collar crime prosecutor for the Manhattan district attorney's office. That's what typically happens in white-collar indictments, said Karen Friedman Agnifilo, a former chief assistant with the Manhattan district attorney's office. But even if Trump does need to surrender in person, Secret Service would likely give the perp walk a hard pass.

☆ Tesla rival Lucid plans layoffs, as manufacturing and production challenges mount for EV startups
▼ + stars: | 2023-03-29 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Lucid, a Tesla rival, is planning layoffs. The EV startup is planning to lay off hundreds of employees, my colleague Alexa St. John reported. Lucid has had a challenging few months, as it works to nail down manufacturing and production and get cars on the roads. It's not the only EV company that's struggling. Insider's Tim Levin tested out charging a KIA EV at a former Tesla supercharger that's open to all EVs.

☆ Netanyahu to Biden: Israel does not make decisions based on pressures from abroad
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] Israeli Prime Minister Benjamin Netanyahu attends a meeting at the Knesset, Israel's parliament, amid demonstrations after he dismissed the defence minister as his nationalist coalition government presses on with its judicial overhaul, in Jerusalem, March 27, 2023. REUTERS/Ronen Zvulun/File PhotoJERUSALEM, March 29 (Reuters) - Israel is a sovereign country that does not make decisions based on pressures from abroad, Prime Minister Benjamin Netanyahu said overnight between Tuesday and Wednesday in response to comments by U.S. President Joe Biden. Biden earlier said he hoped Netanyahu would abandon judicial changes that had sparked protests in Israel and a political crisis for its government. "Israel is a sovereign country which makes its decisions by the will of its people and not based on pressures from abroad, including from the best of friends." Reporting by Maayan Lubell Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ The world's largest wealth manager is warning investors to avoid stocks for the rest of 2023. Here's its advice across asset classes.
▼ + stars: | 2023-03-28 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

UBS, the world's largest asset manager, downgraded stocks and says they have little upside now. The firm says investors shouldn't sit on the sidelines, especially in the bond market. UBS advised investors on what to buy in stocks, bonds, currencies, and alternative assets. "The bond market is pricing for a recession to start as soon as the summer," Haefele wrote, while oil prices and credit spreads also reflect substantial recession risk. Speaking of stocks, Haefele doesn't like what he sees.

☆ Disney is ditching its metaverse plans after laying off an entire team focused on interactive storytelling, report says
▼ + stars: | 2023-03-28 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Disney laid off its entire metaverse team, which included around 50 people, in recent cuts. It's the latest firm to abandon its metaverse ambitions, despite assembling a team just a year ago. The company recently announced plans to lay off 7,000 people in a major cost-cutting effort. White's team was responsible for exploring ways of interactive storytelling through new technological formats. Now, Disney managers are under pressure to identify employees to layoffs and areas where they can reduce budget, a person familiar with the company told Insider's Claire Atkinson earlier in March.

WASHINGTON, JERUSALEM, March 28 (Reuters) - U.S. President Joe Biden on Tuesday urged Israeli Prime Minister Benjamin Netanyahu to abandon a judicial overhaul proposal that led to massive protests in Israel, prompting the Israeli leader to say he does not make decisions based on pressure from abroad. Netanyahu on Monday delayed the overhaul proposal after large numbers of people spilled into the streets. The White House initially said in response that Netanyahu should seek a compromise on the issue. "I hope he walks away from it," Biden said, referring to the judicial proposal that would give the Israeli government greater control over appointments to the country's Supreme Court. "I have known President Biden for over 40 years, and I appreciate his longstanding commitment to Israel," Netanyahu said.

☆ The Fed's rate hike policy doesn't have many fans — but abandoning the inflation target would be a 'disaster' that brings the economy back to the 1970s, a Fed official says
▼ + stars: | 2023-03-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The president of the St. Louis Fed said it would be a disaster for the Fed to abandon its inflation target. The Fed has been hiking interest rates aggressively to get inflation down to 2%. The Fed then targeted inflation aggressively and adopted the 2% inflation target in the 1990s. Ethan Harris, a Bank of America economist, wrote in a December note there's little evidence that the 2% inflation target is the "optimal target," per Fortune. Higher interest rates make borrowing — like mortgages to credit cards more expensive.

☆ Tech Companies Are Ruining Their Apps, Websites, Internet
▼ + stars: | 2023-03-27 | by ( Ed Zitron | ) www.businessinsider.com time to read: +13 min

Google, Amazon, Meta, and other tech companies have monetized confusion, constantly testing how much they can interfere with and manipulate users. Abandoning the core productIn the 2000s and early 2010s, tech companies actually produced new, interesting products. This fueled Silicon Valley's explosive growth: Companies saw their valuations soar, revenue growth was exponential, and new users were joining by the boatload. There are ways to integrate new technology into a core product that doesn't end in disaster. Netflix was able to iterate on their core product — letting people watch movies — in a way that actually made that experience better.

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