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☆ A $1.8 billion earthquake just hit the real estate industry
▼ + stars: | 2023-11-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

On Tuesday afternoon at a courthouse in Kansas City, Missouri, the collective nightmare of the real-estate industry became reality. For decades, the basic structure of how real-estate agents get paid when they help someone buy or sell their home has remained roughly the same. Here's how it works: When you list your home for sale on an MLS, you're required to offer a commission to the buyer's agent. The good buyer's agents who can prove their value will be fine, Brobeck predicted. The wild thing is, the decision could be just the beginning of tumult for the real-estate industry.

Persons: Burnett, —, Stephen Brobeck, Brobeck, Mike Rosenthal, Rosenthal, Sellers, Saul Klein, you've, Klein, Keller Williams, Bob Goldberg, Inman, Opendoor, James Rodriguez Organizations: National Association of Realtors, NAR, MLS, Consumer Federation of America, Consumer, nab, New York Times, Justice Department Locations: Kansas City , Missouri, Missouri , Illinois, Kansas, California

☆ AI supply chain startup Tacto is set to raise funds from Sequoia. It's already in talks to bring in more cash.
▼ + stars: | 2023-11-03 | by ( Callum Burroughs | Tasmin Lockwood | ) www.businessinsider.com time to read: +2 min

Tacto, a small German AI supply chain startup, is set to raise new funding from US giant Sequoia and is already in talks with a different high-profile investor to raise another round. Sequoia is set to lead Tacto's Series A round, six sources familiar with the deal told Insider. Unusually, the startup has already begun talks to raise another round of funding in addition to the Sequoia deal. Tacto is also in talks with London-based Index Ventures to immediately raise another funding round, five sources said. Andreessen Horowitz led a seed round in tiny AI startup ElevenLabs in March, and is also in talks with months-old company Mistral.

Persons: Tacto, Andreessen Horowitz, Fintech, Hanno Renner Organizations: London, Ventures, Sequoia, Energy, nab, Cherry Ventures, UVC Partners, Club Locations: Sequoia, Munich, Berlin

☆ Dollar eases as traders bet Fed done with rate hikes
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: +3 min

United States one dollar bills are curled and inspected during production at the Bureau of Engraving and Printing in Washington. The index is on course to clock a 0.3% drop for the week, just its third week of losses since July. The European Central Bank last week snapped a streak of 10 straight rate increases, with the discussion shifting to how long the rates would stay high. The Japanese yen was 150.41 per dollar, keeping traders nervy and looking for signs of intervention from Japanese authorities. The Australian dollar eased 0.19% to $0.642, while the New Zealand dollar fell 0.24% to $0.588.

Persons: Tapas Strickland, Flavio Carpenzano, Isabel Schnabel, Kazuo Ueda, Sterling Organizations: Engraving, U.S . Federal, NAB, Investor, Analysts, Fed, ECB, Investment, Capital Group, European Central Bank, Bank of Japan, Reuters, Bank of England, New Zealand Locations: United, Washington, U.S

☆ Larry Fink’s next M&A may go in surprise direction
▼ + stars: | 2023-11-01 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +8 min

Reuters GraphicsTIPPING THE SCALESThe shift to low-fee products helped BlackRock’s assets under management swell to more than $9 trillion at the end of September. BlackRock’s history with Blackstone means a reunion with Stephen Schwarzman’s $110 billion firm is a persistent Wall Street rumor. BlackRock’s funds operate under a single name, so uniting with Carlyle (CG.O) or Apollo Global Management (APO.N) would pose a branding challenge. Fink might covet MSCI (MSCI.N), the $38 billion firm which aggregates many of the benchmarks tracked by BlackRock’s ETFs. Given Fink’s long record of pulling off opportunistic and transformational deals, it would be foolish to bet against him springing one last surprise.

Persons: Larry Fink, Fink, Merrill, Rowe Price, Janus Henderson, Blackstone, Stephen Schwarzman’s, Carlyle, covet, MSCI, Michael Bloomberg, doesn’t, LSEG –, Peter Thal Larsen, Thomas Shum, Streisand Neto Organizations: CNBC, New York Stock Exchange, Reuters, BlackRock, Blackstone, Barclays Global Investors, Credit Suisse, UBS, nab, Graphics, Apollo Global Management, London Stock Exchange, Thomson Reuters, New, Bloomberg, Wall Street, New York Times, LSEG – Bloomberg, Thomson Locations: New York City, U.S, BlackRock, Boston, Swiss, New York, United States

☆ 9 Moves to Help You Pay Off Credit Card Debt
▼ + stars: | 2023-10-31 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +14 min

More than half of all Americans are currently aren’t managing to pay their credit card bills in full each month, J.D. Power found recently, helping explain why we now owe a record $1 trillion in credit card debt. Request an interest rate reductionCall each of your credit card issuers and ask for a lower APR, advises Todd Christensen, education manager with Debt Reduction Services, a nonprofit debt counseling agency. Work with a nonprofit credit counseling agencyIf you’re struggling to make the minimum credit card payment required each month or already behind, reach out to a nonprofit credit counseling service for assistance. These organizations, typically members of the Financial Counseling Association of America or the National Foundation for Credit Counseling, will review your finances and credit card debt to help you better manage your budget and repayments.

Persons: Kerri Anne Renzulli, Power, you’ve, You’ll, Experian, Beverly Harzog, ”, Todd Christensen, John Ulzheimer, you’ll, you’re, Bruce McClary, Says Organizations: Mint, Debt, Surveys, TK, nab, Consumer Financial, Financial, Association of America, National Foundation, Credit, Credit Counseling Locations: FICO

☆ Australia's NAB targets at least $633 mln in lending to indigenous businesses
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney, Australia August 4, 2017. Earlier this year, a review by the country's corporate regulator found banks were falling short of meeting targets for moving First Nations people into low-fee accounts. NAB, the country's second biggest lender, said the new lending target highlights a surge of more than 140% based on its current lending of just A$413 million helping stimulate "sustainable business growth" among indigenous communities. "During the last two years, we have put the building blocks in place to better support our growing First Nations business customer base, from both a commercial and cultural perspective," said Andrew Irvine, NAB Group Executive Business and Private Banking. ($1 = 1.5780 Australian dollars)Reporting by John Biju in Bengaluru; Editing by Krishna Chandra Eluri and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Andrew Irvine, John Biju, Krishna Chandra Eluri Organizations: National Australia Bank, REUTERS, Nations, NAB, Executive Business, Private Banking, Thomson Locations: Sydney, Australia, Bengaluru

☆ Australia's surprisingly strong Q3 inflation raises odds of Nov rate hike
▼ + stars: | 2023-10-25 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Markets are wagering both the U.S. Federal Reserve and the European Central Bank are done with hiking. HAWKISH MESSAGINGThe recent messaging from the central bank has been on the hawkish side. The biggest contributors to the third quarter inflation were fuel, rents, and electricity. Fuel prices rose 7.2% from a year ago, reversing two quarters of price falls, with the conflict in the Middle East potentially set to further stoke inflationary pressures. The central bank forecast in August that inflation was only projected to return to the top of the bank's target band of 2-3% in late 2025.

Persons: David Gray, Worryingly, Adam Boyton, Gareth Aird, Michele Bullock, Woolworths WOW.AX, Taylor Nugent, Stella Qiu, Wayne Cole, Shri Navaratnam Organizations: REUTERS, Rights, Reserve Bank of Australia, Australian Bureau, Statistics, Wednesday, Commonwealth Bank of Australia, ANZ, Economics, CBA, U.S . Federal Reserve, European Central Bank, Woolworths, National Australia Bank, NAB, Thomson Locations: Sydney, Australia

☆ Powerball jackpot: Estimated $1.73 billion up for grabs in Wednesday night's drawing
▼ + stars: | 2023-10-11 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +1 min

CNN —An estimated $1.73 billion Powerball jackpot is up for grabs during Wednesday night’s drawing, setting the stage for a lucky player to potentially win what would be the second largest prize in the game’s history. There have been no Powerball jackpot winners since July 19, when a single ticket sold in California nabbed a grand prize worth $1.08 billion. In Monday night’s drawing, four tickets in California, Indiana, Oregon, Virginia matched all five white balls to win $1 million prizes. It’s the first time in Powerball’s history that back-to-back cycles have generated billion-dollar grand prizes, Powerball said in a news release. But the odds of winning the jackpot are much slimmer, at 1 in 292.2 million, Powerball says.

Persons: they’ll Organizations: CNN, nab Locations: California, California , Indiana , Oregon, Virginia, Florida

☆ Arizona Coyotes local games move to broadcast networks – the latest big shift in sports TV
▼ + stars: | 2023-10-05 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

The Arizona Coyotes are skating to a new TV home for local games – showcasing the pressure on cable TV bundles due to cord cutting while broadcast stations look to nab more sports media rights. Scripps Co. on Thursday that will see its local games air on over-the-air networks. The Coyotes' local games aired on Bally Sports Arizona. MLB began running the distribution of the Diamondbacks, as well as the San Diego Padres, another contract rejected by Diamond, earlier this year. The landscape for local games has dramatically shifted as consumers flee the traditional cable TV bundle and opt for streaming services.

Persons: Barrett Hayton, Diamond, Phoenix Mercury –, Gray, Scripps, Knights – Organizations: Arizona Coyotes, Dallas Stars, American Airlines Center, The Arizona Coyotes, nab, NHL, Scripps Co, Diamond Sports Group, Coyotes, Scripps, Bally Sports Arizona, Arizona Diamondbacks, Phoenix Suns, Phoenix Mercury, Diamond, Suns, Mercury, Gray Television, MLB, Diamondbacks, San Diego Padres, CNBC, Vegas, Knights, Stanley, Warner Bros, Warner Media, MLB's Houston Astros, NBA's Houston Rockets, T SportsNet, City Home Network Locations: Dallas , Texas

☆ Intervention threat from the Bank of Japan is 'very real': NAB
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntervention threat from the Bank of Japan is 'very real': NABRay Attrill of NAB explains why he "suspects" that the Bank of Japan has intervened to defend the yen.

Persons: NAB Ray Attrill Organizations: Bank of Japan, NAB

☆ Gold fragile on lofty U.S. dollar and yields, palladium at 5-year low
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: +2 min

Gold prices headed back towards seven-month lows on Wednesday as an ascending dollar and bond yields after strong U.S. jobs data kept markets expectant of further monetary policy tightening, while palladium slipped to its lowest level since late 2018. Spot gold eased 0.1% to $1,820.70 per ounce by 0332 GMT, while U.S. gold futures dropped 0.3% to $1,836.20. The unexpected rise in August U.S. job openings highlights the durability of labor demand, NAB Resources said, adding that gold continues to decline on the higher-for-longer Federal Reserve rates outlook, strengthening U.S. bond yields and dollar. Benchmark U.S. 10-year bond yields were at 16-year highs, diminishing demand for non-interest-paying bullion. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.2% on Tuesday.

Persons: Janet Yellen, Yeap Jun Rong Organizations: U.S ., NAB Resources, U.S, Treasury, Benchmark, Trust, Palladium Locations: Moscow, Russia

☆ Powerball jackpot climbs to an estimated $1.2 billion for Wednesday’s drawing
▼ + stars: | 2023-10-03 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +1 min

CNN —The Powerball jackpot climbed to an estimated $1.2 billion after no ticket matched all numbers to nab the grand prize during Monday night’s drawing. The jackpot rolled for a 32nd time Monday with no winners for the $1.04 billion jackpot. Two tickets sold in New York and South Carolina won $2 million prizes and two tickets in Delaware and Michigan nabbed $1 million prizes, according to Powerball’s website. The jackpot crossed the billion-dollar mark on Saturday, marking the first time in Powerball history that back-to-back jackpot cycles have generated billion-dollar grand prizes, according to Powerball. The largest ever Powerball Jackpot was a $2.04 billion prize won November 2022 in California, followed by a $1.586 billion jackpot won in January 2016 and then an estimated $1.2 billion prize in October 2023.

Organizations: CNN, nab, Wednesday, South Carolina, Michigan nabbed Locations: California, New York, Delaware, Michigan

☆ Mariners stay in race with win over Astros
▼ + stars: | 2023-09-27 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/54] Sep 26, 2023; Seattle, Washington, USA; Seattle Mariners center fielder Julio Rodriguez (44) steps into the dugout prior to the game against the Houston Astros at T-Mobile Park. Mandatory Credit: Steven Bisig-USA TODAY Sports Acquire Licensing RightsSeptember 27 - George Kirby pitched six scoreless innings as the Seattle Mariners bolstered their flagging playoff hopes with a 6-2 victory against the visiting Houston Astros on Tuesday night. The Mariners scored twice in the third and added three runs in the fifth, both times helped by Houston errors. After a walk to J.P. Crawford, Julio Rodriguez hit a sacrifice fly to left to make it 2-0. France hit a solo shot to left-center with two outs in the eighth off Ryne Stanek.

Persons: Julio Rodriguez, Steven Bisig, George Kirby, Ty France, Justin Topa, Kirby, Yainer Diaz, Chas McCormick, Jeremy Pena, Matt Brash, Jon Singleton, Jose Altuve, Alex Bregman, Andres Munoz, Altuve, McCormick, Pena, Houston's Cristian Javier, Mike Ford, Josh Rojas, Crawford, Rojas, Rodriguez, Rafael Montero, Cal Raleigh, Kyle Tucker's, Teoscar Hernandez, Ryne Organizations: Seattle Mariners, Houston Astros, Mobile, Mariners, Houston, Astros, Texas Rangers, AL West, Kirby, nab Ford, Ford, Cal, Raleigh, Thomson Locations: Seattle , Washington, USA, Houston, France

☆ Insider Today: Finance's next generation
▼ + stars: | 2023-09-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

This post originally appeared in the Insider Today newsletter. Tech: An Amazon exec told employees the tech giant's RTO plans could take up to three years. An Amazon exec told employees the tech giant's RTO plans could take up to three years. Insider is again highlighting some of the brightest young minds in finance with our annual list of Wall Street's rising stars. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: —, Harrison, Alyssa Powell, Michelle Abrego, Luna McKeon, Michael Dunn Goekjian, Anne, Victoire Auriault, Goldman Sachs, Jack Dillon didn't, Thom Browne, Dillon, Patrick McGoldrick, Pat, Liu Jie, That'll, Jeffrey Epstein, Jes Staley, Epstein, Bill Tompkins, Donald Trump, it's, Austin Harris, Chris Pizzello, Ron DeSantis, Mike Pence, Vivek Ramaswamy, Mark Zuckerberg, Lil Wayne, Avril Lavigne, Jenna Ortega, Gwyneth Paltrow, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, Amazon, Jack Dillon didn't nab, Vista Equity Partners, New England Patriots, Morgan Asset Management, Getty, Verizon, JPMorgan, US Virgin Islands, SVP, Microsoft, FTC, Federal Trade Commission, AP, Fox Business, Florida Gov, Meta, Publishing Locations: Xinhua, Delta, Northern California, San Francisco, Florida, New York City, San Diego, London, New York

☆ Insider Today: The fight for remote jobs
▼ + stars: | 2023-09-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Remote workers are doing anything but work in the afternoons. Elena Noviello/Getty ImagesThere are few topics in corporate America as polarizing as remote work. AdvertisementAdvertisementLengthy, expensive office leases might also discourage companies from embracing remote work. As Aki's story points out, that type of rationale from larger companies has created an opportunity for those willing to support remote work. A company's commitment to remote work might not be forever, even if employees view it that way.

Persons: —, Taylor Swift, Travis Kelce, we've, I'm, Chelsea Jia Feng, Insider's Aki Ito, Aki, What's, Elena Noviello, Goldman Sachs, Leonardo Munoz, Rebecca Szkutak, Dominic, Madori Davis, Snyder, Mark Reinertson, Anthropic, Lindsey Nicholson, Jacob Boomsma, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, NFL, nab, TechCrunch, Thistle Technologies, Getty, Employees, Costco, Google, Netflix, Cintas Corp Locations: America, Amazon's, Sioux Falls , South Dakota, Jefferson City , Missouri, New York City, San Diego, London, New York

☆ Not much exciting about Aussie banks as high costs pressure earnings - Macquarie
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Australia's "Big Four" banks - among the top seven listed companies in the country - control 75% of the country's A$2 trillion mortgage market. That euphoria is now largely over as high living costs impact borrowers' capacity to repay loans. Macquarie, an investment bank with a small retail banking operation, said banks' cost bases are likely to remain under pressure as more than 70% of their expenses related to personnel. Macquarie added that it expects banks' expenses to grow by around 1% to 7% in fiscal 2023 through to fiscal 2025, with third-biggest lender Westpac Banking Corp (WBC.AX) seen being impacted more than its peers. The regional banks will remain disadvantaged in the current environment as they will have to continue to invest to keep up, Macquarie said, estimating up to 4% higher expenses than consensus.

Persons: Macquarie, Sameer Manekar, Janane Organizations: Macquarie, Westpac Banking Corp, ANZ Group Holdings, CBA, NAB, Adelaide Bank, Bank of Queensland, Thomson Locations: Bendigo, Bengaluru

☆ Australia fines lender NAB $1.4 mln for wrongfully charging fees
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsCompanies National Australia Bank Ltd FollowSept 22 (Reuters) - The Australian Federal Court has fined the country's second-biggest lender National Australia Bank (NAB) <NAB.AX> a penalty of A$2.1 million ($1.4 million) for wrongfully charging customers periodic payment fees, the securities regulator said on Friday. Between January 2017 and July 2018, National Australia Bank continued to charge its customers periodic payment fees for transferring money despite knowing it had no contractual entitlement to do so, the Australian Securities & Investments Commission (ASIC) said. The bank wrongfully charged 2,888 personal banking customers and 513 business clients payment fees totalling A$139,845 on 74,593 occasions, the regulator added. Shares of NAB were trading 0.7% lower as of 0221 GMT after declining as much as 1.3% earlier in the day.

Persons: Daniel Munoz, Sarah Court, Sameer Manekar, Ayushman, Janane Venkatraman, Dhanya Ann Thoppil Organizations: National, REUTERS, National Australia Bank, Australian Federal Court, Australia Bank, Australian Securities & Investments Commission, NAB, Reuters, Royal Commission, Thomson Locations: Sydney, Australia, Bengaluru

☆ Not much exciting about Aussie banks as high costs pressure earnings, Macquarie says
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Persons: Loren Elliott, Macquarie, Sameer Manekar, Janane Organizations: Central Business, REUTERS, Macquarie, Westpac Banking Corp, ANZ Group Holdings, CBA, NAB, Adelaide Bank, Bank of Queensland, Thomson Locations: Sydney, Australia, Bendigo, Bengaluru

☆ Australia fines lender NAB $1.4 million for wrongfully charging fees
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsCompanies National Australia Bank Ltd FollowSept 22 (Reuters) - The Australian Federal Court has fined the country's second-biggest lender National Australia Bank (NAB) <NAB.AX> a penalty of A$2.1 million ($1.4 million) for wrongfully charging customers periodic payment fees, the securities regulator said on Friday. Between January 2017 and July 2018, National Australia Bank continued to charge its customers periodic payment fees for transferring money despite knowing it had no contractual entitlement to do so, the Australian Securities & Investments Commission (ASIC) said. The bank wrongfully charged 2,888 personal banking customers and 513 business clients payment fees totalling A$139,845 on 74,593 occasions, the regulator added. NAB in an email to Reuters acknowledged "some customers were incorrectly charged for periodical payment fees several years ago," adding that it had completed a remediation program and repaid more than A$8.3 million to affected customers.

☆ Gold prices dip as Fed ratchets up tightening bias
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. Bullion on Wednesday hit its highest since Sept. 1 before the U.S. Fed revised its economic projections with higher-for-longer rate warnings. "In the aftermath of the FOMC event, there have been some market jitters given the interest rate outlook. "The precious metal will probably need to rely on some slowing momentum in Treasury yields in order to post gains of any significance to the upside." Higher interest rates discourage the buying of non-interest-paying bullion, which is priced in dollars.

Persons: Tim Waterer Organizations: Heraeus SA, Solar, U.S ., Federal Reserve, U.S, Fed, KCM Trade, NAB Commodities Research, Bank of Locations: Budapest, Hungary

☆ Gold stalls as Fed caution keeps investors at bay
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Gold prices were subdued on Wednesday as investors remained cautious ahead of the Federal Reserve's policy decision, where the U.S. central bank is expected to stay put on interest rates, but prospects loom for further hikes later this year. Spot gold was down 0.1% at $1,929.86 per ounce by 0517 GMT, holding below its highest level since Sept. 5 reached on Tuesday. The Fed's rate-setting policy committee will release a new policy statement and interest rate decision at 1800 GMT, with Fed Chair Jerome Powell scheduled to hold a press conference at 1830 GMT. A more hawkish Fed on the back of stronger-than-expected August U.S. CPI and PPI data released last week should see downside risk to gold prices, NAB Commodities Research said in a note.

Persons: Jerome Powell, Jun Rong, Janet Yellen, Wang Tao Organizations: Treasury, Fed, IG, CPI, PPI, NAB Commodities Research Locations: Moscow, Russia, ., U.S

☆ Euro gains, yen struggles in central bank-packed week
▼ + stars: | 2023-09-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

A Reuters report on Monday citing six sources said the debate over the multi-trillion-euro pool of excess liquidity sloshing around banks was likely to start next month. However, this might not be enough to give the euro a more sustained boost, according to Lee Hardman, a strategist at MUFG. "While the ECB’s reported plans to tighten excess liquidity in the euro area have helped to support the euro, they are unlikely to be sufficient on their own to turn the current weakening trend," he said. This week brings a raft of central bank meetings, including those of the Federal Reserve, the Bank of Japan, the Bank of England and the Swiss National Bank, among others, which kept currency volatility on the subdued side. In other currencies, sterling edged up 0.1% at $1.2398, ahead of an interest rate decision from the BoE on Thursday.

Persons: Dado Ruvic, Lee Hardman, Kazuo Ueda, Rodrigo Catril, Erik Weisman, BoE, Rae Wee, Lincoln, Peter Graff, Hugh Lawson Organizations: REUTERS, European Central Bank, Reuters, ECB, Federal Reserve, Bank of Japan, Bank of England, Swiss National Bank, National Australia Bank, NAB, U.S, Fed, MFS Investment Management, Thomson Locations: U.S

☆ Yen flounders, dollar drifts ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The yen fell 0.1% to 147.76 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. The euro meanwhile gave up some of its gains from the previous session and was last 0.12% lower at $1.0678. It had risen alongside euro zone government bond yields on Monday, following hawkish comments from European Central Bank (ECB) policymakers that further rate increases were on the cards. In other currencies, sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England (BoE) also due this week.

Persons: Dado Ruvic, Kazuo Ueda, Rodrigo Catril, Erik Weisman, NAB's Catril, BoE, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, Wednesday, Bank of Japan's, National Australia Bank, NAB, Reserve Bank of Australia's, U.S, New Zealand, Fed, MFS Investment Management, European Central Bank, ECB, Reuters, Bank of England, Thomson Locations: Rights SINGAPORE, Asia

But a person who worked closely with Ramaswamy said, "He thinks people are put on this earth to serve him." Roivant attracted investors including Masayoshi Son's SoftBank Vision Fund, Peter Thiel's Founders Fund, and the hedge fund Viking Global Investors. Former Roivant employees said Ramaswamy worked hard and expected the same of others. McLaughlin called the employee's recollection "inaccurate," adding that Ramaswamy "has never once raised his voice or used bad language with employees." At Roivant, Ramaswamy kept his politics largely to himself, former employees said.

Persons: Vivek Ramaswamy, Ramaswamy, He's, Donald Trump, Mike Pence, Nikki Haley, Ron DeSantis, Trump, George Soros, didn't, Taco Bell, he's, —, Vivek, Tricia McLaughlin, he'd, McLaughlin, takeout, Forbes, Vivek doesn't, they've, Roivant, Masayoshi, Peter Thiel's, Thiel, JD Vance, Bill Ackman, who'd, . Ramaswamy, Erik Gordon, Vance, John Phillips, Joyce Rosely, Phillips, Anson Frericks, they'd, Rosely, Frericks, They're, they're, Eric Balchunas, Todd Rosenbluth, Rosenbluth, Christopher Lenzo, Brandon Bell, Vivek Ramaswamy's, Katherine Long, Jack Newsham, Meghan Morris Organizations: pharma, Army Rangers, Biotech, Republican, nab, GOP, of Education, FBI, Nuclear Regulatory Commission, Federal Reserve, Florida, Roivant Sciences, General Electric, Yale Law School, Army, Rangers, Harvard, Yale, Fund, Viking Global, Leerink Partners, GlaxoSmithKline, Forbes, Big Pharma, Japan's Sumitomo Pharma Co, ., University of Michigan, FDA, US, Yale Law, ESG, The, Texas, Indiana, BlackRock, Vanguard, Bloomberg Intelligence, Fair, SEC Locations: Mexico, FiveThirtyEight, Roivant, Patagonia, Iowa, New York, Ohio, The Lever

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsSept 14 (Reuters) - National Australia Bank (NAB) (NAB.AX) said on Thursday it would shut its Hong Kong branch, as offices in Singapore, Tokyo and Shanghai were its preferred customer outreach hubs in Asia. The move is likely to impact about 50 roles in the Hong Kong, however, the lender said in a statement that its "too early" to confirm the impact of the branch closing. "The decision probably reflects that foreign businesses are not finding operating conditions in Hong Kong as conducive as they once were," said Tim Waterer, chief market analyst at KCM Trade. The office shutdown comes after Finance Sector Union said earlier this month that the bank was planning to cut 222 back-office jobs.

Persons: Daniel Munoz, Tim Waterer, NAB's, Navya Mittal, Subhranshu Sahu, Rashmi Organizations: National, REUTERS, National Australia Bank, NAB, KCM, Westpac, Finance Sector Union, Thomson Locations: Sydney, Australia, Hong Kong, Singapore, Tokyo, Shanghai, Asia, Bengaluru

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