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☆ Mercury Morris, 2-time Super Bowl champion, dies at 77
▼ + stars: | 2024-09-22 | by ( Wayne Sterling | ) edition.cnn.com time to read: +2 min

CNN —Eugene “Mercury” Morris, two-time Super Bowl champion with the Miami Dolphins and linchpin of the team’s perfect 1972 season has died, his son Troy-Jeffrey Morris announced on social media on behalf of the family Sunday. Morris rushed for a career-best 1,000 yards and 12 touchdowns in the 1972 perfect season. Kidwiler Collection/Getty ImagesThe following season, Morris rushed for 954 yards and 10 touchdowns to help Miami win back-to-back Super Bowl titles. Morris and other members of the 1972 team would pop champagne to celebrate after the last unbeaten team in a season lost. Morris is fourth on Miami’s all-time rushing list with 3,877 yards, behind Csonka (6,737), Ricky Williams (6,436) and Ronnie Brown (4,815).

Persons: Eugene “ Mercury ” Morris, Troy, Jeffrey Morris, Mercury Morris, “, Mercury, Morris, Hall, Larry Csonka, “ Morris, ”, Ricky Williams, Ronnie Brown Organizations: CNN, Miami Dolphins, Pro, Super Bowl, Hall of Fame, Miami, Dolphins, NFL Locations: Miami, South Florida

☆ Yen nurses losses as BOJ meets, dollar dogged by rate outlook
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."

Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England

☆ Dollar rebounds after Fed goes big on rate cut
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +4 min

The U.S. dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets. The U.S. dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets. Fed policymakers on Wednesday projected the benchmark interest rate would fall by another half of a percentage point by the end of this year, a full percentage point next year and half of a percentage point in 2026, though they said the outlook that far into the future is necessarily uncertain. "So to expect an easing today because of what the Fed has done seems a little bit too hard to believe." Elsewhere, the Australian dollar edged up 0.05% against its U.S. counterpart to $0.6768, while the New Zealand dollar advanced 0.04% to $0.6210.

Persons: Jerome Powell, it's, Rodrigo Catril, —, Eric Robertsen, Sterling, NAB's Organizations: U.S, Wednesday, Reuters, National Australia Bank, Bank of England, New Zealand Locations: U.S, Singapore

☆ WNBA announces new expansion team based in Portland, Oregon
▼ + stars: | 2024-09-18 | by ( Wayne Sterling | ) edition.cnn.com time to read: +2 min

CNN —The WNBA is returning to Portland, Oregon, starting in 2026. The new expansion franchise will play its home games at the Moda Center in downtown Portland and become the WNBA’s 15th team, the league announced Wednesday. “As the WNBA builds on a season of unprecedented growth, bringing a team back to Portland is another important step forward,” WNBA commissioner Cathy Engelbert said in a statement. The city previously had a WNBA team – the Portland Fire – from 2000-2002 before it folded. “Portland has a passion for women’s sports and the teams who play in the Rose City, making us the ideal home of the next WNBA team,” Oregon governor Tina Kotek said in a statement.

Persons: Cathy Engelbert, Lisa Bhathal Merage, Alex Bhathal, ” Merage, Tina Kotek, Engelbert, “, ” Engelbert, Caitlin Clark, Angel Reese, A’ja Wilson Organizations: CNN, Moda, “, WNBA, RAJ Sports, Portland, Sacramento Kings, Rose City Rollers, Sports, Indiana Fever, Chicago Sky, Las Vegas Aces Locations: Portland , Oregon, Portland, “ Portland, Rose City, Oregon, Rose, Toronto

☆ Dollar catches footing ahead of Fed
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +3 min

The dollar steadied on Wednesday as stronger-than-expected U.S. retail sales had traders slightly trimming bets that the U.S. easing cycle will begin with an outsized interest rate cut. The Federal Reserve is expected to make its first interest rate cut in more than four years at 1800 GMT, which will be followed by a news conference half an hour later. A rate cut is fully priced, with interest rate futures implying a 63% chance of a 50 basis point cut, after flirting with 70% a day earlier. Traders say the Fed's tone as well as the size of the rate cut will drive the next moves in the foreign exchange market. China's stock, bond and currency markets resume trade on Wednesday after the mid-autumn festival break, though it is a holiday on Wednesday in Hong Kong.

Persons: Nathan Swami, Swami Organizations: Federal, Traders, Citi, Australian, New Zealand, Sterling, Bank of, ANZ Bank Locations: Buenos Aires, Argentina, Asia, U.S, Japan, Atlanta, Singapore, Hong Kong, Bank of England

☆ Dollar pinned down by 50 bp Fed cut bets
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: +2 min

The dollar traded near its lowest levels of the year on Tuesday, on the eve of the expected the start to a U.S. easing cycle that markets are betting may begin with an outsized rate cut. The euro rallied overnight to $1.1138 and traded around there early in the Asia session, not far from the year's high against the dollar of $1.1201. Fed funds futures rallied on Monday to push the chance of a 50 basis point rate cut to 67%, against 30% a week ago. "That's because the contrast between central bank outlooks will remain starkest between the Fed and the BoJ, for the time being." The U.S. dollar index weakened 0.4% overnight to 100.7, not far from its 2024 low made last month at 100.51.

Persons: Sterling — Organizations: Macquarie, Fed, Bank of, The Bank of England, New, U.S Locations: U.S, Asia, Tokyo, Bank of Japan, New Zealand

☆ Currencies listless as markets waffle over Fed rate cut
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: +4 min

A quarter-point reduction by the Fed as it kicks off its rate cuts is still seen as the slightly more likely outcome, but only marginally so. Futures price a total of 125 basis points in rate cuts in 2024. Investors are also looking to the Bank of Japan's interest rate decision on Friday, when it is expected to keep its short-term policy rate target steady at 0.25%. Bank of Canada Governor Tiff Macklem meanwhile opened the door to stepping up the pace of interest rate cuts, the Financial Times reported on Sunday. The BoC, after keeping its key policy rate at 5%, a more than two-decade high, for a year, has trimmed it by a quarter point three times in a row since June.

Persons: Chris Weston, Fumio Kishida, Sanae Takaichi, Christine Lagarde, Philip R, Lane, Luis de Guindos Organizations: U.S, Bank of England, Bank of Japan, Treasury, Fed, FedWatch, Bank of, Liberal Democratic Party, Sterling, European Central Bank, ECB, Bank of Canada, Financial Times, BoC Locations: Japan, Asia, China, South Korea

☆ Sean ‘Suga’ O’Malley: Meet the UFC champion who is ‘just so sweet to watch’
▼ + stars: | 2024-09-14 | by ( Ben Morse | ) edition.cnn.com time to read: +10 min

Known for his creative social media output and seismic success in the Octagon, O’Malley has quickly become a fan favorite and UFC champion. O'Malley's combination of his unique look, social media output and success in the ring has made him a UFC favorite. O’Malley said on social media that he was withdrawing from his fight against Jose Quiñonez on October 6, 2018 at UFC 229 after failing a drugs test. A couple of face tats, a couple colorful hairs and boom.”To pair with that, his social media activity differs widely from the traditional content seen from his contemporaries. He explains that he’s always been the “class clown, goofy kid” and that he sought a way of turning that into something more tangible through social media.

Persons: Sean O’Malley, O’Malley, “ Suga, Johnny Aho, ” O’Malley, Georgia’s Merab Dvalishvili, Chris Unger, Jose Quiñonez, ”, ” USADA, Marlon Vera, O’Malley’s, Tim Welch, Welch, Pedro Munhoz, Petr Yan, Aljamain Sterling, “, Vera, Paul Rutherford, Spencer Kyte, Alexander Volkanovski, Stephen ‘ Wonderboy ’ Thompson, O'Malley, Megan Briggs, Suga ”, MMXXIII, ’ ”, ’ “, he’s Organizations: CNN, UFC, CNN Sport, Doping Agency, Fighting, Ecuadorian, YouTube, Getty Locations: Helena , Montana, U.S, Miami , Florida

☆ Benni McCarthy: Former Manchester United coach says Red Devils can qualify for Champions League this season
▼ + stars: | 2024-09-13 | by ( Zayn Nabbi | ) edition.cnn.com time to read: +5 min

CNN —Former Manchester United coach Benni McCarthy says the Red Devils can finish in the top four this season, but are still behind the likes of Manchester City, Arsenal and Liverpool in the English Premier League (EPL) title race. But in the league last season, United languished in eighth position, the club’s worst ever finish in the Premier League era and nowhere near the qualification spots for the lucrative Champions League. Since McCarthy left ahead of the new season, United has lost two of its first three league games. Speaking to CNN Sport, though, McCarthy remained optimistic about the Red Devils and stressed that opponents may regret overlooking the 13-time Premier League winners. McCarthy, seen here in 2023 as a Manchester United first team coach, wants to get back into coaching.

Persons: Benni McCarthy, McCarthy, “, Andrew Boyers, They’ve, Pep Guardiola, Pep, Mikel Arteta’s, Manchester United’s, Jürgen Klopp, Mikel Arteta, ” McCarthy, Liverpool's Mo Salah, Michael Regan, Arne, Klopp’s, It’s, they’ve, ”, I’ve, Duif du, Bafana Bafana, Hugo Broos Organizations: CNN, Former Manchester United, Devils, Manchester City, Arsenal, Liverpool, English Premier League, Premier League, League, Champions League, United, CNN Sport, Red Devils, Manchester United, Porto, Blackburn Rovers, Champions League football, City, “, Pep Guardiola’s, Mikel Arteta’s Arsenal, Manchester, South, MLS, Cape Town City, Premier Soccer League, FIFA Club, It’s, South Africa national, of Nations, South Sudan Locations: Manchester, North London, Anfield, Liverpool, Old Trafford, Africa, South Africa, Uganda

☆ Dollar weak as traders add to wagers of big rate cut from Fed
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +3 min

While the Fed is all but certain to cut rates next week, uncertainty around whether it will go with a 25 basis point cut or 50 basis points has kept investors on the edge and weighed on the dollar. Analysts pointed to media reports from the Financial Times and the Wall Street Journal suggesting the Fed's decision would be a close call as one of the reasons for traders adding to wagers of a big rate cut next week. Higher U.S. jobless claims data released on Thursday and the Wall Street Journal article on the Fed's rate cut dilemma revived bets on a jumbo cut at the September meeting, according to Christopher Wong, currency strategist at OCBC. Besides the Fed, the Bank of England and Bank of Japan hold policy meetings next week. "Risks remain that inflation may not return to target as easily as everyone, including the Fed, seems to expect."

Persons: Christopher Wong, Christine Lagarde, Ryan Brandham, Naoki Tamura, Sterling, BoE Organizations: Federal Reserve, Financial Times, Wall, Traders, European Central Bank, Fed, Bank of England, Bank of Japan, Validus Risk Locations: North America

☆ Dollar firm as inflation data douse bets for big Fed rate cut
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +3 min

The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. Meanwhile, a quarter-point rate reduction from the European Central Bank is widely expected later on Thursday, with investors anxious for hints on how soon the monetary authority will cut again. Early on Wednesday, Bank of Japan board member Junko Nakagawa reinforced the central bank's tightening bias by saying low real rates leave room for further rate hikes. As a result, traders essentially priced out the chances of a 50-basis point rate cut on Sept. 18, paring the odds to 15% versus 85% probability for a 25-bp reduction.

Persons: Junko Nakagawa, Naoki Tamura, Tony Sycamore Organizations: Federal, European Central Bank, Bank of Japan, IG, ECB, Sterling, Swiss Locations: U.S

☆ Yen eyes 5-week high as focus turns to U.S. presidential debate, inflation
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: +2 min

Markets were also cautious ahead of the first debate between U.S. presidential hopefuls Kamala Harris and Donald Trump, with the candidates neck-and-neck ahead of the November election. The dollar was down 0.2% at 142.18 yen as of 0009 GMT, heading back towards the recent low of 141.75 yen, a level previously not seen since Aug. 5. The euro was little changed at $1.1019, after sliding to $1.10155 overnight for the first time since Aug. 19. Sterling was flat at $1.3080, following its drop to $1.3049 in the prior session, the weakest since Aug. 21. The stakes are particularly high considering the debate between Trump and President Joe Biden ultimately spurred the incumbent to drop out of the race.

Persons: Kamala Harris, Donald Trump, Sterling, —, Kyle Rodda, Trump, Harris, Joe Biden Organizations: Federal Reserve, Capital.com, Republican, Democratic, Trump

CNN —It’s been an eventful few days for Miami Dolphins star Tyreek Hill, who was detained by police ahead of his team’s opening game of the season on Sunday. Hill doesn’t answer and repeatedly says, “Don’t knock on my window like that.”The officer asks why Hill had his window up and says he had to knock to let Hill know he was there. If I wasn’t Tyreek Hill, worst-case scenario, we would’ve had a different article. Tyreek Hill got shot in front of Hard Rock Stadium, that’s worst-case scenario,” Hill said. “Following the incident involving Tyreek Hill, I have initiated an Internal Affairs investigation to ensure a thorough review of the matter.

Persons: CNN — It’s, Tyreek Hill, Hill, Stephanie V, Daniels, “, don’t, bro, ” Hill, “ I’m, I’m, ”, CNN he’s, CNN’s Kaitlan Collins, I’ve, they’re, would’ve, Tyreek, ” Daniels, Drew Rosenhaus, “ Tyreek, ” Rosenhaus, – it’s, Rosenhaus, ‘, ” Hill’s, Calais Campbell, Campbell, ” Campbell, didn’t, Sam Navarro, Pro Bowler, Jonnu Smith, Don’t, ” Steadman Stahl, ” Stahl, Jaylen Waddle, Megan Briggs, Daniella Levine Cava, ” Levine Cava, MDPD Organizations: CNN, Miami Dolphins, Jacksonville Jaguars, Police, Jaguars, Miami - Dade Police Department, CNN Hill, Internal, CNN News Central, ESPN, Dolphins, NFL, USA, Sports, Reuters, ” Police, South Florida Police Benevolent Association, Hill's, Getty Images Miami, Dade, AFC East, Buffalo Bills Locations: bro, Hill, America

☆ Deshaun Watson: Cleveland Browns quarterback accused of 2020 sexual assault in new lawsuit
▼ + stars: | 2024-09-10 | by ( Ben Church | Wayne Sterling | ) edition.cnn.com time to read: +3 min

CNN —Cleveland Browns quarterback Deshaun Watson has been accused of sexual assault and battery which allegedly occurred in 2020, according to a civil lawsuit filed Monday by a woman in Harris County, Texas. In the lawsuit obtained by CNN, a woman identified as “Jane Doe” claims that Watson sexually assaulted her in her apartment before a dinner date in October 2020. According to the lawsuit, Watson – who was playing for the Houston Texans at the time – had become angry when he initially couldn’t find the woman’s apartment, yelling at her on the phone. According to the filing, the woman, Jane Doe, said she was terrified. Jane Doe is seeking compensatory and punitive damages in excess of $1 million, the lawsuit states.

Persons: Deshaun Watson, Jane Doe ”, Watson, Watson –, –, Jane Doe, … Doe, “ Jane, Watson disrobed, “, “ Jane Doe, ” Watson, ” Organizations: CNN, Cleveland Browns, Houston Texans, Browns, Texans, NFL Players, NFL Locations: Harris County , Texas

Hill is heard saying “I’m getting arrested” multiple times, and the one officer physically restraining him says, “When we tell you to do something, you do it. Hill told “The Source with Kaitlan Collins” on Monday he was still shell-shocked by the encounter. NFL star Tyreek Hill speaks out after police release bodycam video of his detention before the Miami Dolphin’s season-opener. Speaking on ESPN, the 17-year NFL veteran said he got out of his car with his hands up and approached the police officers, saying, “I’m a friend of his (Hill). You tell me how far I need to back up, and I’ll back up, but I’m not leaving the scene,” Campbell recounted.

Persons: “, don’t, Hill, bro, ” Hill, “ I’m, I’m, ”, Kaitlan Collins ”, –, Tyreek, Stephanie V, Daniels, CNN’s Sara Sidner, Drew Rosenhaus, ” Rosenhaus, – it’s, ” Daniels, Calais Campbell, ” Steadman Stahl, ” Stahl, ” Julius B, Collins, ” Collins, Don Juan Moore, Rosenhaus, “ It’s, George Floyd, didn’t, ” Campbell, Campbell, It’s, Jonnu Smith, Don’t, flustered ” Organizations: CNN, Miami, Dade police, Miami Dolphins, Dolphins, NFL, Police, CNN News Central, South Florida Police Benevolent Association, Jaguars, ESPN, Buffalo Bills Locations: Sunday’s, Hill, Miami’s, America

☆ Euro zone inflation falls to 3-year low of 2.2%, backing September rate cut case
▼ + stars: | 2024-08-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Euro zone inflation dropped to a three-year low of 2.2% in August, flash figures from statistics agency Eurostat showed Friday, boosting expectations for a September rate cut from the European Central Bank. The core rate — excluding the more volatile components of energy, food, alcohol and tobacco — fell to 2.8% in August from 2.9% in July, also matching a Reuters poll. The euro nudged 0.04% higher against the U.S. dollar to $1.1083 as investors gear up from a September rate cut from the Federal Reserve in its first step toward monetary easing in the current cycle. It come after price rises in Germany, the euro area's biggest economy, cooled more than expected to 2% for the month, on a euro zone harmonized basis. Economists at ING expect euro zone core inflation to remain stubbornly above 2.5% for the rest of the year amid stickiness in goods and services.

Organizations: Eiffel, Paris, European Central Bank, Reuters, U.S, Federal Reserve, ING, Markets, ECB Locations: Paris, Germany

Convicted former FTX executive Ryan Salame's domestic partner Michelle Bond has been indicted in New York on federal charges accusing her of conspiring to raise unlawful campaign contributions from FTX for her unsuccessful run for Congress in 2022, prosecutors announced Thursday. Salame and Bond met in June 2021, and were in a relationship by early the following year, according to the indictment. The indictment alleges that Salame, identified only as CC-1, conspired with Bond to commit the crimes, saying that Salame arranged the payment from FTX to Bond. She then allegedly used "almost entirely" all of that money "to fund her campaign illegally," the indictment says. Salame's lawyers claim prosecutors reneged on an agreement to drop their campaign finance probe of Bond as an incentive to get him to plead guilty.

Persons: Ryan Salame's, Michelle Bond, FTX, Damian Williams, Bond, Salame, Bond's, Baker, Sterling Marchand, Marchand Organizations: Manhattan U.S, New Locations: New York, FTX, Potomac , Maryland, New York's, Long, Washington, Manhattan

☆ 'Cheap' and 'under-owned': CIO makes the case for UK stocks despite U.S. bounce back
▼ + stars: | 2024-08-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

U.K. stocks are looking particularly attractive after a fresh bout of market volatility, according to the chief investment officer of financial firm Wren Sterling. It is in this context that Wren Sterling's Rory McPherson believes British stocks look "cheap" and "under-owned." When asked whether investors should consider U.K. stocks as part of a shift away from U.S. tech companies, McPherson replied, "Well, we think so. I mean you look at the market like the U.K., it's on 12 times earnings, its cheap, its under-owned. Analysts have recently turned bullish on U.K. stocks, which had been unpopular for years.

Persons: Wren Sterling, Wren, Rory McPherson, McPherson, CNBC's, " McPherson Organizations: Global, U.S, Analysts, BlackRock Investment, BlackRock, Labour Party, CNBC, Bank of, Bank of England Locations: U.S

☆ Dollar droops after benign inflation data; kiwi firm before RBNZ decision
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +3 min

The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. Risk-sensitive currencies stayed strong after the unexpected softening in inflation buoyed equities, even with crucial U.S. consumer price index figures still looming later on Wednesday. New Zealand's dollar hovered near a four-week high ahead of a Reserve Bank of New Zealand policy decision, with markets split over the potential for a rate cut. The dollar was stable at 147.06 yen as it continued to consolidate around the 147 level this week. The kiwi edged up 0.07% to $0.6081, close to Tuesday's high of $0.60815, a level last seen on July 18.

Persons: CME's, Carol Kong, Sterling, Tony Sycamore Organizations: Australian, New, Reserve Bank of New, Traders, Federal, Commonwealth Bank of Australia, U.S, CPI, CBA, IG Locations: Reserve Bank of New Zealand

☆ King Charles banknotes sell for 12 times their value as collectors scramble for early editions
▼ + stars: | 2024-08-13 | by ( Angelica Chiara Yazbeck | ) edition.cnn.com time to read: +3 min

London CNN —A record-breaking series of auctions of King Charles III banknotes has raised £914,127 ($1.2 million) for 10 UK charities, according to the Bank of England. The banknotes, auctioned by Spink & Sons over the summer, sold for 11.7 times their face value of £78,430 ($100,318), as collectors snapped up some of the first versions of the new cash to roll off the printing presses. The runaway success of the auctions highlights the value that collectors attach to banknotes with especially low serial numbers, which denote that they are among the first to be printed. “Lucky numbers” also attracted high bids, according to Spink & Sons. Two £5 notes with serial numbers ending in 88 and 888 were auctioned for £2,200 ($2,800) and £2,400 ($3,100).

Persons: King Charles III, King Charles, BOE, Queen Elizabeth II, ”, Gregory Edmund, ” Edmund, Sarah John, Winston Churchill, Queen Elizabeth, Churchill, London — Organizations: London CNN, Bank of England, Spink & Sons, Spink, CNN, WWF, Trussell, British Locations: United Kingdom, BOE, British, London

☆ UK stocks look 'cheap and under-owned,' CIO says
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK stocks look 'cheap and under-owned,' CIO saysRory McPherson, CIO of financial firm Wren Sterling, says U.K. economic growth is strong and explains why he thinks the country's stocks have further to go.

Persons: Rory McPherson, Wren Sterling

☆ Stellantis to lay off up to 2,450 factory workers as classic Ram production ends
▼ + stars: | 2024-08-09 | by ( ) edition.cnn.com time to read: +1 min

CNN —Chrysler-parent Stellantis is laying off as many as 2,450 factory workers from its Warren Truck assembly plant outside of Detroit as the automaker ends production of the Ram 1500 Classic truck. Production of the Jeep Wagoneer at the same facility will remain on two shifts, the company said. As production of the Ram 1500 Classic winds down later this year, the company is shifting focus to the Ram 1500 Tradesman truck, produced at its Sterling Heights Assembly facility. “We introduced the new 2025 Ram 1500 Tradesman with incredible value and content. There are about 3,700 workers at the plant represented by the United Auto Workers union.

Persons: CNN —, Stellantis, Carlos Tavares, Tavares Organizations: CNN, CNN — Chrysler, United Auto Workers union, Union, UAW, Stellantis Locations: Detroit, Sterling Heights

☆ Dollar gains after U.S. jobless claims fall more than expected
▼ + stars: | 2024-08-08 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen banknotes of various denominations are arranged in Kawasaki, Japan, on Friday, June 23, 2023. The dollar rose on Thursday after new U.S. labor market data showed that unemployment benefits fell more than expected last week, easing fears of an imminent recession. Initial jobless claims fell to a seasonally adjusted 233,000 for the week ended Aug. 3, the Labor Department said on Thursday, suggesting fears that the labor market is unraveling were overblown. The sharp moves in the yen pushed the dollar index, which measures the U.S. currency against six others, including the yen, to a weekly high, before backing off. The Australian dollar rose 1.12% to $0.659, while the New Zealand dollar was up 0.25% at $0.601.

Persons: Shinichi Uchida, Eugene Epstein, Uchida, Marc Chandler, Jerome Powell, Vasu Menon, bitcoin, Ether Organizations: Labor Department, Bank of Japan's, Bannockburn Global Forex, U.S . Federal, Swiss, New Zealand Locations: Kawasaki, Japan, North America, Moneycorp, ., Bannockburn

☆ Squeeze on carry trades leave currency markets on edge
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The yen was 1% lower on Tuesday at 145.78 per dollar in early trading, after rising for five straight sessions and touching a seven-month high of 141.675 on Monday. "Sell-offs that manifest themselves through wild swings in the currency markets are sharp and swift, but usually very short lived," said Jamie Cox, managing partner at Harris Financial Group. "Markets are clearly nervous about the divergent paths central banks are taking, leading to lots of volatility." The dollar index , which measures the U.S. unit versus six rivals, was flat at 102.87 in early trading after touching a seven-month low of 102.15 on Monday.

Persons: Jamie Cox, James Athey, undervaluation Organizations: U.S, Federal Reserve, Federal, Harris Financial, Traders, Bank of Japan, Marlborough Investment Management Locations: Yichang, Hubei province, recessionary, Japan, Switzerland, Tokyo

☆ Noah Lyles takes the Olympic gold in the 100-meter dash by the slimmest of margins
▼ + stars: | 2024-08-04 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +3 min

The victory ends a 20-year Olympic drought in the event for the USA, when Justin Gatlin won the 100-meter race in Athens. Thompson, who was the betting favorite in the race, took the silver medal and American Fred Kerley took home the bronze. Lyles won the race - the first ever with a legal wind where every competitor ran sub-10 seconds - by five-thousandths of a second. Cameron Spencer/Getty ImagesIt was a sterling version of the signature Olympic race. When the time came, the lights went out in the Stade de France just as the sun had nearly set outside Paris.

Persons: Denis, France CNN —, Noah Lyles, Kishane Thompson, Justin Gatlin, Thompson, Fred Kerley, Lyles, Cameron Spencer, didn’t, Yu Organizations: France CNN, Stade de France, USA, Paris Olympics Locations: France, Paris, Jamaica, Athens, American, Saint

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