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☆ Why American consumers may finally slow their spending, in charts
▼ + stars: | 2023-11-26 | by ( Christopher Hickey | ) edition.cnn.com time to read: +5 min

Some experts think the combination of high housing costs, rising credit card debt and shrinking savings could mean the end of post-Covid splurges, maybe even as soon as this year’s holiday shopping season. Here are the pressures consumers are facing that could cause a spending slowdown. Keeping up with high prices not only has led to more credit card debt, but also more consumers are falling behind on the payments. Since the first quarter of 2022, the rate of newly serious delinquent credit card debt has risen roughly 90%. And that would mean Americans may be forced to finally pull back on their post-Covid spending spree.

Persons: “, ”, Erik Lundh, Freddie Mac, ” Lundh, Lundh, they’ve Organizations: Conference, Intercontinental Exchange, ICE, New York Federal Reserve, Social Security Administration, San Francisco Federal Reserve, SF Fed, New York Fed, Covid Locations: people’s

☆ US SEC sues Kraken crypto exchange over failure to register
▼ + stars: | 2023-11-20 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Kraken cryptocurrency exchange logo is seen in this illustration taken July 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - Kraken, one of the world's largest cryptocurrency exchanges, was sued on Monday by the U.S. Securities and Exchange Commission, which accused it of illegally operating as a securities exchange without first registering with the regulator. In June, the SEC filed similar lawsuits against Binance, the world's largest cryptocurrency exchange, and Coinbase, the largest in the United States. Monday's lawsuit seeks a civil fine, disgorgement of ill-gotten gains, and a halt to acting as a crypto exchange without registering. The case is SEC v Payward Inc et al, U.S. District Court, Northern District of California, No.

Persons: Dado Ruvic, Gary Gensler's, Kraken, Gurbir Grewal, Binance, Jonathan Stempel, Chris Prentice, David Gregorio, Stephen Coates Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Binance, Payward Inc, Payward Ventures Inc, Blockchain, Digital Currency Group, Hummingbird Ventures, Tribe Capital, Payward, Court, Northern District of, Thomson Locations: San Francisco federal, United States, San Francisco, U.S, Northern District, Northern District of California, New York

☆ Rupee likely to inch up on more dollar losses; eyes oil prices
▼ + stars: | 2023-11-20 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 20 (Reuters) - The Indian rupee is likely to open slightly higher on Monday after the dollar declined to its lowest in over two months against a basket of major peers. Non-deliverable forwards indicate rupee will open at around 83.24-83.25 to the U.S. dollar, compared with 83.27 in the previous session. The dollar index fell 1.8% last week, the worst performance since mid-July. Asian currencies were mostly higher"It looks like it is setting up to be like last week.. rupee will do much in the face of the dollar's struggles," a forex trader at a bank said. "And let's say, for whatever reason, the dollar turns later this week, then too the rupee will not budge.

Persons: Brent, Mary Daly, Susan Collins, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Federal Reserve, Fed, San Francisco Fed, Boston, ANZ, Brent, Thomson Locations: MUMBAI, Asia, U.S

The S&P 500 (.SPX), the Nasdaq (.IXIC) and the Dow (.DJI) registered their third straight week of gains. For the week, the S&P 500 added 2.2% while the Nasdaq composite rose 2.4% and the Dow climbed 1.9%. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsEnergy, finishing up 2.1%, was the biggest percentage gainer among the 11 major S&P 500 sectors as oil prices settled up more than 4%. The S&P 500 posted 18 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 55 new highs and 97 new lows.

Persons: Michael Barr, Mary Daly, Susan Collins, Robert Phipps, Per Stirling's Phipps, Dow, Jack McIntyre, Brendan McDermid, Russell, Rick Wilmer, Sinéad Carew, Shristi, Maju Samuel, Pooja Desai, David Gregorio Our Organizations: Dow, Nasdaq, Federal, San Francisco Fed, Boston Fed, Applied Materials, U.S . Justice, Stirling, Dow Jones, Brandywine Global, Traders, New York Stock Exchange, REUTERS, Rights Energy, Technology, Microsoft, Ross Stores, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: U.S, China, Austin Texas, Philadelphia, New York City, New York, Bengaluru

☆ A record number of $50 bills were printed last year. It’s not why you think
▼ + stars: | 2023-11-18 | by ( Sergio Padilla | ) edition.cnn.com time to read: +5 min

New York CNN —Unless you’re an avid currency collector, an employee of the Bureau of Engraving and Printing, or work at the Federal Reserve, you likely didn’t know that last year a record number of $50 bills were printed. Last year, the government printed 756,096,000 of those bills — the highest total of the denomination printed in one year in more than 40 years. In 2019, only 3.5% of all US bills printed were $50s. To understand why so many $50 bills were printed, it’s important to know how the system of printing money works. But, more likely, and more realistically, people tend to avoid using $50 bills due to them being confused with $5 or $20 bills and many stores not accepting bills larger than $20.

Persons: Ken Cedeno, Ulysses S, Grant, wasn’t, Patrick McHenry, Ronald Reagan, Bugsy Siegel Organizations: New, New York CNN, Engraving, Federal Reserve, Yum Brands, Inc, Eccles Federal, Washington DC, Fed, San Francisco Fed, US, North Carolina Republican, Centers for Disease Control Locations: New York, Washington, North Carolina, Vegas, United States

Speaking on CNBC, Boston Fed President Susan Collins also said the U.S. central bank must be "patient and resolute, and I wouldn't take additional firming off the table." Inflation by the Fed's preferred measure was 3.4% in September, down from its 7.1% peak last summer, but above the central bank's target. And he expressed increased confidence that the Fed can meet its inflation goal without the kind of rise in unemployment seen in the U.S. central bank's prior battles with inflation. Speaking on Thursday, Cleveland Fed President Loretta Mester, one of the central bank's more hawkish policymakers, said she had not yet assessed whether she would continue to pencil in a further rate hike. Fresh economic and interest rate projections are due to be the released at the Dec. 12-13 policy meeting.

Persons: Mary Daly, Daly, Susan Collins, Collins, Austan Goolsbee, Loretta Mester, Ann Saphir, Michael S, Pete Schroeder, Dan Burns, Balazs Koranyi, Paul Simao Organizations: Federal, San Francisco Fed, CNBC, Boston, Deutsche Bank, Chicago Fed, Fed, Cleveland Fed, Derby, Thomson Locations: Frankfurt, Germany, U.S

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The S&P 500 and the Nasdaq rose for the third straight session on Thursday as Treasury yields fell after higher-than-expected weekly jobless claims underscored market expectations that interest rates have peaked. The communication services index (.SPLRCL) led declines among the 11 major S&P 500 sectors, while energy shares (.SPNY) rose 1.1% as oil prices gained. Advancing issues outnumbered decliners by a 2.72-to-1 ratio on the NYSE and by a 1.88-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Michael Barr, Mary Daly, Daly, Thomas Hayes, Russell, Rick Wilmer, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nasdaq, Federal Reserve, Treasury, Microsoft, Materials, San Francisco Fed, Great, Capital, Dow, Dow Jones, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ 'Ridiculous' US lawsuit by Musk's X Corp should be dismissed -hate speech watchdog
▼ + stars: | 2023-11-17 | by ( Jonathan Stempel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 17 (Reuters) - A nonprofit that monitors online hate speech urged a U.S. federal judge to throw out what it called a "ridiculous" lawsuit by Elon Musk's X Corp to stifle free expression. "Fortunately, state and federal free speech protections cannot be so easily evaded." In September, X sued California to block the state from enforcing a law requiring that social media companies publish policies for policing misinformation, harassment, hate speech and extremism. X said the law, Assembly Bill 587, violates its free speech rights. The case is X Corp v. Center for Countering Digital Hate Inc et al, U.S. District Court, Northern District of California, No.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Elon Musk's, X, Musk, Adolf Hitler, Bill, Jonathan Stempel, David Gregorio Our Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Corp, Center, X Corp, IBM, Court, Northern District of, Thomson Locations: Paris, France, San Francisco federal, California, U.S, Northern District, Northern District of California, New York

☆ Morning Bid: Treasury yields dive as oil craters, economy softens
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +5 min

U.S. two-year Treasury yields skidded below 4.80% on Friday for the first time since September 1, with 10-year yields dropping under 4.40% to September lows too. Crude has now lost almost 25% in just six weeks - aided by the U.S. gradually lifting oil sanctions on Venezuela. The Labor Department said import prices fell a whopping 0.8% in October, the most in seven months amid a broad decline in the costs of goods - deepening the annual deflation of import prices to as much as 2.0%. Even though the dollar (.DXY), , is taking a hit from the plunge in U.S. Treasury yields, the drop in sovereign borrowing rates was mirrored across the world in Europe , even Japan . Mirroring the softening demand picture elsewhere, British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home.

Persons: Lucas Jackson, Mike Dolan, plumb, Morgan, Susan Collins, Mary Daly, Austan Goolsbee, Michael Barr, Dave Ramsden, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Walmart, Cisco, Alibaba, Philadelphia Federal Reserve, Labor Department, Treasury, Hong, Housing, Atlanta, Boston Federal, San Francisco Fed, Chicago Fed, Bank of England, United States, APEC, Graphics, Thomson, Reuters Locations: New York, U.S, Wall, Alibaba ., Venezuela, Europe, Japan, HK, Hong Kong, China, San Francisco

☆ Fed's Cook says economic risks two-sided, 'soft landing' possible
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

"I believe that a 'soft landing' is possible, with continued disinflation and a strong labor market, but it is not assured," Cook said in remarks prepared for delivery to a San Francisco Fed conference on Asian economic policy. "I see risks as two-sided, requiring us to balance the risk of not tightening enough against the risk of tightening too much." Meanwhile, Cook noted, other global central banks have also tightened policy rapidly. "But in a world of uncertainty it is hard to judge the exact size of these spillovers." Reporting by Ann Saphir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Lisa Cook, Jonathan Ernst, Cook, bank's, there's, Ann Saphir, Paul Simao Organizations: Federal Reserve, of Governors, Capitol, REUTERS, FRANCISCO, Federal, San Francisco Fed, U.S, Thomson Locations: Washington , U.S, U.S

☆ Morning Bid: Ebbing oil sustains economic glow
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +6 min

Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. That drop, which takes annual producer price inflation as low as 1.3%, was driven largely by falling gasoline prices. And that meets news that China's oil refinery throughput fell back in October as industrial fuel demand weakened. The overall energy and inflation picture is helping buoy consumption and stokes the 'soft landing' narrative investors are betting on. The picture in overseas markets, where the economic picture is cloudier, was more mixed.

Persons: magnifier, Dado Ruvic, Mike Dolan, stokes, Mary Daly, Joe Biden, Xi Jinping, Xi, Biden, Washington, Christopher Waller, Lisa Cook, John Williams, Michael Barr, Loretta Mester, Christine Lagarde, Luis de Guindos, Andrea Enria, Dave Ramsden, Andres Manuel Lopez Obrador, Alexander Smith Organizations: REUTERS, U.S . Energy Information Administration, Walmart, Federal, San Francisco Fed, Treasury, U.S . Senate, Philadelphia Fed, Kansas City Fed, Applied, Ross Stores, Federal Reserve, Lisa Cook , New York Fed, Cleveland Fed, European Central Bank, Bank of England, New York Federal Reserve, Insider Intelligence, Reuters Graphics, Thomson, Reuters Locations: U.S, United States, China . U.S, Target, San Francisco, Taiwan, China, Kansas, Treasuries, Lisa Cook , New, Franciso, Reuters Graphics China

☆ Fed President Daly warns against calling time on rate-rising cycle too soon - FT
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

Federal Reserve Bank of San Francisco President Mary Daly poses for a photograph at the Kansas City Federal Reserve Bank's annual Economic Policy Symposium in Jackson Hole, Wyoming, U.S. August 25, 2023. REUTERS/Ann Saphir/File Photo Acquire Licensing RightsNov 15 (Reuters) - San Francisco Federal Reserve President Mary Daly warned against calling time on rate-rising cycle too soon, in an interview to Financial Times on Wednesday. Daly refused to rule out another interest rate increase, given uncertainty about whether the central bank has done enough to push consumer price growth back down to its 2 per cent target. She indicated little concern about the recent sharp fall in US government bond yields, which has loosened financial conditions, according to FT. Reporting by Urvi Dugar in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Mary Daly, Ann Saphir, Daly, Urvi Organizations: Reserve Bank of San Francisco, Kansas City Federal, REUTERS, San Francisco Federal, Financial Times, Thomson Locations: Jackson Hole , Wyoming, U.S, Bengaluru

☆ 35-year-old CEO of $100 million company: I 'don’t remember' anything I learned in college—here's why it was valuable anyway
▼ + stars: | 2023-11-14 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

College prepared Pinky Cole well to be the CEO of a $100 million company, she says — just not in the way you might think. When I went to college, all the stuff that I learned, I don't remember [any] of it," Cole tells CNBC Make It. And while it's certainly possible to connect with high-powered people without a shared academic experience, college graduates tend to have better career prospects and financial outcomes than high school-only graduates. College graduates earned 75% more last year, on average, according to the San Francisco Fed, a research nonprofit. College graduates also reported a 2% unemployment rate last year, compared with 7% for their counterparts, the National Center for Education Statistics reported.

Persons: Pinky Cole, —, Cole, I've, Clark, Chance, Louis, Cole's, Warren Buffett Organizations: Clark Atlanta University, CNBC, Delta Sigma Theta, Federal Reserve Bank of St, College, San Francisco Fed, National Center for Education Statistics Locations: Atlanta, Georgia , New York, Texas, alma mater

☆ The Fed is terrified Americans could get used to high inflation. It may already be happening.
▼ + stars: | 2023-11-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Fed officials don’t expect inflation to reach 2% until 2026, according to their latest economic projections released in September. If there’s one thing that would make the Fed quake in its boots, it would be worsening inflation expectations. The keyword there is “timely.”Sticky inflation could possibly “un-anchor” inflation expectations or elicit a consistent deterioration in Americans’ perception on inflation. “The Fed really just wants people to not expect inflation will run at 4% forever.”So what’s kept inflation expectations in check this long? For individuals and married people filing separately, the new federal standard deduction will increase to $14,600, up from $13,850 this year.

Persons: we’ve, Raphael Bostic, “, ” Luke Tilley, ”, Jerome Powell, presser, Powell, Michelle Bowman, Tilley, ” Drew Matus, what’s, Matus, “ They’re, Jeanne Sahadi, Lisa Cook, Phillip Jefferson, Michael Barr, Loretta Mester, Austan Goolsbee, John Williams, Christopher Waller, Mary Daly Organizations: DC CNN, Federal Reserve, Fed, University of Michigan’s, Atlanta Fed, Bloomberg, Investment Advisors, CNN, ”, New York Bankers Association, New York Fed, MetLife Investment Management, IRS, Tyson Foods, Depot, US Labor Department, National Federation of Independent Business, China’s National Bureau of Statistics, Target, National Statistics, US Commerce Department, Walmart, National Association of Home Builders, San Francisco Fed Locations: Washington, Wilmington, Palm Beach , Florida

☆ American consumers may be starting to buckle. Here are 5 warning signs a spending slowdown is on the horizon.
▼ + stars: | 2023-11-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Americans are saving lessThe personal savings rate slumped to 3.4% in September. That's well-below the pre-pandemic savings rate, when Americans were stashing away around 7% of their disposable personal income. Consumers aren't planning to splurge this holiday seasonAmericans are less likely to splurge this holiday season than last year. McKinsey & CompanyAmericans are looking less likely to splurge, even as they head into the holiday season. "Hiring for the holiday season is generally done in October, and adding up new jobs created in the BLS-defined holiday season retail sectors in the latest employment report shows that retailers expect a weaker holiday season," Apollo chief economist Torsten Slok said in a note on Tuesday.

Persons: Macquarie, Thierry Wizman, —, Wizman, Morgan Stanley, Torsten Slok Organizations: Service, Macquarie Global, New York Fed, Federal Reserve, San Francisco Fed, Conference, Conference Board, McKinsey & Company, McKinsey, Apollo, of Labor Statistics Holiday, Bureau of Labor Statistics, BLS Locations: York

☆ Policy is in a good place and the economy is slowing, says San Francisco Fed President Mary Daly
▼ + stars: | 2023-11-10 | 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 EmailPolicy is in a good place and the economy is slowing, says San Francisco Fed President Mary DalyMary Daly, San Francisco Fed president, and CNBC’s Steve Liesman join 'The Exchange' to discuss interest rates, the forecast for inflation and more.

Persons: Mary Daly Mary Daly, Steve Liesman Organizations: San, Fed, San Francisco Fed Locations: San

☆ Fed's Mary Daly says it's ‘too early to declare victory’ on inflation
▼ + stars: | 2023-11-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Tighter monetary policy is helping bring down the pace of inflation but not to a level where policymakers should feel too comfortable, San Francisco Federal Reserve President Mary Daly said Friday. "All of that said, it is far too early to declare victory." Daly compared the Fed's job to get policy to the "sufficiently restrictive" benchmark to someone riding a horse and trying to know whether the bridle has been pulled back far enough to stop. "You don't know if the horse is feeling that bridle enough to be sufficiently restrictive to stop," she said. "We're going to be very forward-looking here, and so that's why it's too early to declare victory.

Persons: Mary Daly, Jerome Powell, Daly, it's Organizations: Federal Reserve Bank of San, San Francisco Federal, Federal, CNBC PRO Locations: Federal Reserve Bank of San Francisco, Idaho Falls , Idaho

☆ S&P 500 futures slip Thursday night after higher bond yields spur sell-off: Live updates
▼ + stars: | 2023-11-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

S&P 500 futures ticked lower Thursday night after the broad-market index ended an eight-day run of gains. S&P 500 futures slipped by 0.1%, while Nasdaq 100 futures slid 0.2%. "The Fed's not cutting rates … We've got to prepare for a market that's going to have higher rates until the beginning of 2025," Simpson said. As the week winds down, the S&P 500 and the Dow are poised for modest losses of 0.3% and 0.5%, respectively. Wall Street will also be listening closely toward several remarks from central bank officials, which include San Francisco Fed President Mary Daly, Atlanta Fed President Raphael Bostic and Dallas Fed President Lorie Logan.

Persons: —, Dow, Stocks, Jerome Powell, Kevin Simpson, he's, We've, Simpson, Mary Daly, Raphael Bostic, Lorie Logan Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Wynn Resorts, Federal, International Monetary Fund, Treasury, Wealth Planning, San Francisco Fed, Atlanta Fed, Dallas Fed Locations: Boston, San

☆ US Commercial fishing groups sue tire manufacturers over fish-killing chemical
▼ + stars: | 2023-11-08 | by ( Clark Mindock | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

REUTERS/Nathan Frandino/File Photo Acquire Licensing RightsNov 8 (Reuters) - U.S. commercial fishing groups on Wednesday sued 13 tire manufacturers in California, saying a chemical used in their tires is poisoning West Coast watersheds and killing rare trout and salmon. The fishing groups said the chemical, which becomes toxic when it degrades, is released from tires as vehicles drive around and park. The tire manufacturers did not immediately respond to requests for comment on Wednesday. In July, California's Department of Toxic Substances Control adopted a rule requiring tire manufacturers to evaluate safer alternatives to 6PPD, noting the threat to coho salmon. Together, the 13 tire manufacturers sued on Wednesday account for 80% of the domestic U.S. tire market, according to the lawsuit.

Persons: Nathan Frandino, Elizabeth Forsyth, Forsyth, Clark Mindock, Alexia Garamfalvi, Sandra Maler Organizations: REUTERS, Wednesday, Institute for Fisheries Resources, Pacific Coast Federation of Fishermen's Associations, Bridgestone Corp, Goodyear Tire &, Michelin, Environmental Protection Agency, EPA, California's Department, Toxic Substances, Thomson Locations: Lagunitas, Marin County , California, U.S, California, San Francisco federal, West

☆ 'Fortnite' maker Epic Games is battling Google in court over app-store fees 2 years after largely losing a similar case against Apple
▼ + stars: | 2023-11-06 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

A jury will decide if Google Play has been illegally driving up prices for consumers and developers. Epic Games, the maker of the popular "Fortnite" video game, brought the case against Google. Google recently resolved a case being pursued by the owner of Tinder and other online dating services. AdvertisementAdvertisementThe case targeting Google's Play Store is being brought by Epic Games, the maker of the popular "Fortnite" video game, which largely lost in a similar 2021 trial focused on many of the same issues in Apple's iPhone app store. The terms of the resolution with the state attorneys general is expected to be revealed during Google's trial with Epic.

Persons: —, District Judge James Donato, Sundar Pichai, Pichai, Google's, U.S . Justice Department's, Donato, Tim Sweeney skewered, Sweeney, Wilson White, White Organizations: Epic, Google, Service, U.S, District, Inc, Washington D.C, U.S ., Epic Games, Apple, Supreme, Android, Match Group Locations: San Francisco federal, Washington, U.S

The case targeting Google's Play Store is being brought by Epic Games, the maker of the popular Fortnite video game, which lost in a similar 2021 trial focused on many of the same issues in Apple's iPhone app store. Match is receiving $40 million and adopting Google's “user choice billing" system in its settlement. The terms of the resolution with the state attorneys general is expected to be revealed during Google's trial with Epic. Epic CEO Tim Sweeney skewered the “user choice billing” option as a sham in a social media post vowing to fight Google in court. Wilson White, Google's vice president of government affairs and public policy, accused Epic of trying to get “something for nothing” in a blog post.

Persons: District Judge James Donato, Sundar Pichai, Pichai, Google’s, U.S . Justice Department’s, Donato, Google's, Tim Sweeney skewered, Sweeney, Wilson White, White, ” Organizations: FRANCISCO, Google, Epic Games, Apple, U.S, Supreme, Android, District, Inc, Washington D.C, U.S ., Match Group Locations: San Francisco federal, U.S, Washington

Tesla, X (formerly known as Twitter) and SpaceX's CEO Elon Musk attends the AI Safety Summit at Bletchley Park in Bletchley, Britain on November 1, 2023. Musk filed the objections in San Francisco federal court, where the SEC sued him on Oct. 5 to make him testify for the probe, which it launched in April 2022. Musk has given the SEC documents relating to the probe and provided testimony in July last year via video conference, the SEC said in a court filing. The SEC has spent 18 months "devoting its formidable resources to investigating Mr. Musk over an allegedly untimely filing," the court filings said. The SEC sued Musk in 2018 over his posts on social media saying he had "funding secured" to take electric vehicle maker Tesla Inc (TSLA.O) private.

Persons: Tesla, Elon Musk, Leon Neal, Musk, Alex Spiro, Spiro, Twitter, Jody Godoy, Chris Prentice, Dan Whitcomb, Chizu Nomiyama Organizations: SpaceX's, Bletchley, REUTERS Acquire, U.S . Securities, Exchange, SEC, Twitter, U.S, Tesla Inc, Supreme, Thomson Locations: Bletchley, Britain, San Francisco federal, U.S, New York

☆ Tinder owner Match Group settles antitrust claims against Google’s app store
▼ + stars: | 2023-11-01 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Online dating giant Match Group has dropped a closely watched antitrust lawsuit against Google’s app store, the two companies said Tuesday, days before a trial set to begin in San Francisco federal court. The settlement between the search giant and the owner of sites such as Match, Tinder and Hinge resolves allegations that Google harmed competition through its app store terms. It permits Match Group to provide users alternative ways to pay for in-app content without requiring them to use Google’s proprietary payment channels. Developer complaints about high app store fees — charged by app store owners such as Google — have reached a fever pitch in recent years, along with related allegations about other restrictive app store terms. The outcome of the app store cases could shape the livelihoods of app developers and determine the flow of billions of dollars in economic activity.

Persons: Tim Sweeney, ” Sweeney, ” Organizations: DC CNN —, Google, Epic Games, Apple, Supreme, Match Locations: Washington, San Francisco federal

☆ Alphabet, Match settle Google Play antitrust claims before US trial
▼ + stars: | 2023-10-31 | by ( Mike Scarcella | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

REUTERS/Annegret Hilse//File Photo Acquire Licensing RightsOct 31 (Reuters) - Alphabet (GOOGL.O)'s Google has settled claims by dating app developer Match Group that it monopolized Android app distribution with its Play Store, leaving “Fortnite” maker Epic Games as the sole plaintiff in an antitrust trial against Google set to begin Nov. 6. Match said in a filing in San Francisco federal court on Tuesday that it had resolved its allegations against Google. In a statement, Google said it was “pleased to reach a settlement agreement with Match Group.” Google also recently settled related antitrust claims from U.S. states and consumers for undisclosed terms. Epic and Match accused Google of maintaining an unlawful monopoly in the distribution of Android apps. Google is separately facing U.S. and state antitrust allegations in other U.S. courts over its advertising technology business and its dominance in the web search industry.

Persons: Annegret, “, District Judge James Donato, Tim Sweeney, Mike Scarcella, David Bario, David Gregorio Our Organizations: Google, Arena, REUTERS, Epic, Match, U.S, District, Apple, Thomson Locations: Berlin, Germany, San Francisco federal, U.S, San Francisco

Reuters Image Acquire Licensing RightsAnd that is reflected in the return of the "term premium," the amorphous amount of compensation investors demand for buying long-dated bonds instead of rolling over bills. A San Francisco Fed model estimates that the term premium on the 10-year Treasury bond has risen around 100 basis points since July. Reuters Image Acquire Licensing RightsAnalysts at Morgan Stanley reckon the term premium and debt sustainability worries could prompt a rethink of the bill-coupon supply balance. Bill supply around these levels would be well down on net issuance of just over $1.6 trillion in fiscal year 2023. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsIn an ideal world, Treasury would not choose to rely on such short-term funding needs.

Persons: Kevin Lamarque, Morgan Stanley, Bill, Committee's, Jamie McGeever, Marguerita Choy Organizations: Department of, U.S . Treasury, REUTERS, Rights, U.S, Treasury, San, San Francisco Fed, New York Fed, Bank of America, TD Securities, Bills, Reuters, Securities, Thomson Locations: Washington , U.S, Rights ORLANDO , Florida, San Francisco

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