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☆ A Job With a Fair Salary? What Pay Transparency Laws Are Revealing.
▼ + stars: | 2023-06-20 | by ( H. Claire Brown | ) www.nytimes.com time to read: +1 min

Last December, Yun Yati Naing began searching for the job she would begin after graduating from Baruch College in New York City. It was one month after a law passed by the city went into effect requiring employers with four or more employees to post salary ranges on all new job advertisements. “All my friends were talking about it,” Ms. Naing said. “It really made a difference going into the work force as a fresh graduate. She tracked job opportunities on an Excel spreadsheet, and, after a flurry of interviews and offers, she accepted a job in financial services that advertised starting pay between $54,000 and $79,000.

Persons: Yun Yati Naing, Ms, Naing Organizations: Baruch College Locations: New York City

☆ These stocks are on the verge of forming a bullish chart pattern
▼ + stars: | 2023-06-19 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

The market just enjoyed a big relief rally and some stocks are on the verge of breaking out even higher, according to a bullish chart pattern. CNBC Pro used FactSet data to screen the S & P 500 for stocks that are about to form a so-called "golden cross," in which their 50-day moving average breaks above the 200-day trend line. This has been a reliable bullish signal that historically indicates strong rallies on the horizon. Shares have gained 7% this month after the company reported first-quarter results in line with analysts' expectations, according to FactSet. Dow-component Honeywell International is also on the brink of a "golden cross."

Persons: Warren Buffett's Berkshire Hathaway Organizations: CNBC, Software, Autodesk, Honeywell, BlackRock Locations: Capital One

But it sent the case back to a lower court to determine whether the contested agreement violates asylum seekers' right to equal treatment under the law. But the court also found an unaddressed question when it comes to whether the agreement violates equality rights. The agreement stands and the case will return to federal court to determine whether the agreement violates asylum seekers' right to equal treatment under the law. Refugee advocates claimed the agreement violates that right because they argue the United States is less receptive to refugee claims predicated on gender. In March, Royal Canadian Mounted Police intercepted 4,173 asylum seekers on their way to file refugee claims in Canada after crossing irregularly.

Persons: Jamie Chai Yun Liew, Anna Mehler, Denny Thomas, Jonathan Oatis Organizations: TORONTO, Rights, Refugee, Supreme, Reuters, Freedoms, Royal Canadian Mounted Police, Canada Border Services Agency, U.S . Customs, Border Patrol, U.S . Border Patrol, Customs, Thomson Locations: Canada, United States, Canada's, U.S

☆ Blinken heads to Beijing hoping to calm fears of a US-China break
▼ + stars: | 2023-06-16 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +5 min

Blinken will hold meetings in China on June 18-19 and may meet with Chinese President Xi Jinping, sources said. He will be the highest-ranking U.S. government official to visit China since Biden took office in January 2021. That followed a tense evening phone call with Blinken on Tuesday during which Chinese Foreign Minister Qin Gang told the U.S. to stop meddling in China's affairs. So even going through the motions has some utility for both Washington and Beijing." Particularly worrisome for China's neighbors has been its reluctance to allow regular military-to-military talks between Beijing and Washington, despite repeated U.S. attempts.

Persons: Antony Blinken, Xi Jinping, Biden, Qin Gang, Wang Wenbin, Joe Biden, Andrew Small, Marshall, Tsai Ing, Stephane Dujarric, EYEING BIDEN, Xi, Emanuel Macron, Blinken's, Janet Yellen, Gina Raimondo, Yun Sun, Humeyra Pamuk, David Brunnstrom, Laurie Chen, Martin Pollard, Michelle Nichols, Ben Blanchard, Don Durfee, Daniel Wallis Organizations: Blinken, Foreign, Washington, French, U.S, Treasury, China Program, Stimson, Economic Cooperation, APEC, Biden, Thomson Locations: Beijing, United States, China, U.S, Asia, Taiwan, Taiwan Strait, Washington, Bali, Europe, East, Africa, Saudi Arabia, India, San Francisco, New York, Taipei

☆ China firmly opposes Huawei ban by some EU countries
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

BEIJING/STOCKHOLM, June 16 (Reuters) - China firmly opposes some EU countries' ban on Huawei and said the European Commission has no legal basis nor factual evidence to prohibit the Chinese telecom giant, a Chinese foreign ministry spokesperson said on Friday. EU industry chief Thierry Breton on Thursday urged more EU countries to join the 10 that have restricted or banned China's Huawei (HWT.UL) and ZTE (000063.SZ) from their 5G telecoms networks, citing risks to the bloc's collective security. Huawei has criticised the move saying this was not based on a verified, transparent, objective and technical assessment of 5G networks. Publicly singling out an individual entity as HRV without legal basis is against principles of free trade, a Huawei spokesperson said. "As an economic operator in the EU, Huawei holds procedural and substantial rights and should be protected under the EU and Member States’ laws as well as their international commitments," the person said.

Persons: Thierry Breton, Supantha Mukherjee, Foo Yun Chee, Andrew Cawthorne, Toby Chopra Organizations: Huawei, European Commission, EU, Telecom, Member, Beijing, Thomson Locations: BEIJING, STOCKHOLM, China, Germany, Europe, Member States, Stockholm, Brussels

☆ Stocks making the biggest moves midday: Virgin Galactic, iRobot, Cava, SoFi and more
▼ + stars: | 2023-06-16 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

iRobot — The stock surged 19% after U.K. regulators approved Amazon's $1.7 billion acquisition of the Roomba vacuum cleaner maker. Cava Group — Cava Group shares dropped 15% during trading Friday, giving back some of its gains from its massive debut Thursday on the New York Stock Exchange. SoFi Technologies — The financial technology stock dropped more than 8% after both Bank of America and Piper Sandler downgraded it to neutral from buy, citing SoFi's recent run higher. Micron Technology — Shares dipped 1.5% after Micron Technology said a China chip ban could hurt the company. Truist Financial — Shares fell 1.6% after Odeon Capital Group downgraded Truist Financial to hold from buy, according to FactSet.

Persons: Richard Branson, iRobot, Piper Sandler, Refinitiv, Morgan Stanley, Joseph Moore, — CNBC's Michelle Fox, Alex Harring, Yun Li Organizations: Virgin Galactic —, West Pharmaceutical Services, Bank of America, — Cava, New York Stock Exchange, Technologies, Adobe, Nvidia, Devices, Micron Technology, U.S . Securities, Exchange Commission, — Humana, Odeon Capital Locations: China

☆ China eyes Blinken's visit this week with deep distrust toward the US
▼ + stars: | 2023-06-15 | by ( Nectar Gan | ) edition.cnn.com time to read: +9 min

“The coverage of Blinken’s visit in China is not nearly as extensive or enthusiastic as it has been in the West,” said Yun Sun, director of the China Program at the Stimson Center, a think tank in Washington. (Chinese experts say it was because the US failed to lift sanctions on Li, imposed in 2018 over China’s purchase of Russian weapons.) China cut off talks with US military commanders following former US House Speaker Nancy Pelosi’s visit to Taiwan last August. Zhao said China has adopted “a brinkmanship policy” to highlight the risk of military confrontation to the US. Wang, the expert at Peking University, said Blinken’s long-delayed visit is the “last chance” to repair ties with China before the US election next year.

Persons: Antony Blinken, Washington, Blinken, Qin Gang, State Department –, ”, Yun Sun, “, “ We’re, ” Daniel Kritenbrink, Trump, Wang Yong, Biden, Joe Biden, ” Wang, Tong Zhao, Lloyd Austin, Li Shangfu, Li, Nancy Pelosi’s, Zhao, ” Zhao, ‘, Blinken’s, Janet Yellen, John Kerry, Sun, ” lockdowns, Xi Jinping’s, Xi, Wang Organizations: Hong Kong CNN, China’s, State Department, Biden, China Program, Stimson, State, Peking University, Foreign Ministry, Carnegie Endowment, International, Defense Locations: China, Hong Kong, Beijing, Washington, East Asia, Taiwan, South China

☆ EU regulators checking if Vivendi jumped gun in Lagardere acquisition
▼ + stars: | 2023-06-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, June 15 (Reuters) - EU antitrust regulators are checking whether French media conglomerate Vivendi (VIV.PA) closed its acquisition of French publisher Lagardere (LAGA.PA) before securing regulatory approval, the European Commission said on Thursday. Such so-called gun jumping can result in fines of up to 10% of a company's group aggregate turnover. The EU executive said it was alerted by media reports but has not opened a formal investigation yet. "The Commission was made aware of allegations of gun jumping, which have been reported in the press. The Commission can confirm that it is looking into the matter," the EU executive said in an email.

Persons: Lagardere, Foo Yun Chee, Mathieu Rosemain, Jan Harvey Organizations: Vivendi, European Commission, EU, Thomson Locations: BRUSSELS, EU, Paris

☆ EU countries right to ban Huawei, ZTE from networks, Breton says
▼ + stars: | 2023-06-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, June 15 (Reuters) - The decision by some European Union countries to ban China's Huawei (HWT.UL) and ZTE (000063.SZ) from their 5G telecoms networks is justified and in line with the bloc's guidelines, EU industry chief Thierry Breton said on Thursday. Breton has in recent weeks voiced concerns that some EU countries still have perceived high risk components in their 5G core network, citing intrusive third-country laws on national intelligence and data security - a veiled reference to China. Breton said only 10 of the 27 EU countries had restricted or blocked high-risk vendors. "This is too slow, and it poses a major security risk and exposes the Union's collective security, since it creates a major dependency for the EU and serious vulnerabilities," he said. Huawei, ZTE and Beijing have strongly rejected Western allegations that the companies' equipment might be used for spying.

Persons: Thierry Breton, Breton, Foo Yun, Mark Potter Organizations: Union, Huawei, EU, ZTE, Thomson Locations: BRUSSELS, China, Beijing

☆ Bank of America says keep buying Nvidia shares for two main reasons
▼ + stars: | 2023-06-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Bank of America said Nvidia will continue to be a leader in the semiconductor industry with its new gaming cycle as well as its artificial intelligence capabilities. "NVDA continues to gain market share as new cards ramp," Arya said. NVDA YTD mountain Nvidia Nvidia is at the center of an AI craze on Wall Street. "Peak-to-trough discrete GPU sales were down 55%-60%, clearing way for adoption of new gaming cards," Arya said. "We remain Buy on NVDA (gaming cycle + unrivaled AI accelerator, networking, software leadership)."

Persons: Vivek Arya, he's, NVDA, Arya Organizations: of America, Nvidia, Nvidia Nvidia, Bank of America, AMD, Intel

☆ Stocks making the biggest moves midday: Cava, Domino's Pizza, Kroger, Lennar and more
▼ + stars: | 2023-06-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The Wall Street firm said it believes there will be "significant improvement" in the company's return on invested capital over the next two to three years. Domino's Pizza — The pizza chain gained 6.46% after Stifel upgraded the stock to buy from hold. The Wall Street firm said investors should buy the weakness in Target shares, which are down 15% over the past month. The Wall Street firm said it was bullish long term, but believes the stock price has been seeing appreciation much stronger than experienced in the broader market. The Wall Street firm also boosted its price target to $40 from $36, suggesting upside of more than 20% from Wednesday's close.

Persons: Kroger —, Kroger, Rodney McMullen, Bernstein, Lennar, Oppenheimer, Corning, John Wiley, Mizuho, Patterson, Morgan Stanley, Yun Li, Alex Harring, Jesse Pound, Sarah Min Organizations: New York Stock Exchange, Cava Group, Deutsche Bank, Stifel, —, Technologies, Corning —, Citi, Corning, Management, UTI Energy, Patterson Locations: Wednesday's

☆ Stocks making the biggest moves midday: Logitech, Toyota, UnitedHealth, AMD and more
▼ + stars: | 2023-06-14 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Logitech — Shares tumbled 12.3% after the company announced president and CEO Bracken Darrell is departing. Toyota — The Japan-based automaker's shares gained 4.5% Wednesday. Lumen Technologies — The telecommunications stock gained 6% during midday trading Wednesday, adding to the 16% advance that was made Tuesday. Earlier in the week, the company announced a new partnership with electric vehicle software charging company ev.energy. Advanced Micro Devices — The chip stock gained nearly 2% in midday trading, a day after the company announced its latest artificial intelligence chips.

Persons: Bracken Darrell, UnitedHealth — UnitedHealth, John Franklin Rex, Akio Toyoda, Lumen, Roth MKM, Goldman Sachs, Bernstein, Bud, Raymond James, Buster's, Cinemark, Riley, Li Auto, Morgan Stanley, Wolfe, it's bullish, Gordon Haskett, SVB, — SoFi, Estée Lauder —, — CNBC's Michelle Fox, Yun Li, Sarah Min, Hakyung Kim Organizations: Logitech, Swiss Federal Institute of Technology of, Citi, Goldman, Global Healthcare, Toyota, Lumen Technologies, Google, Microsoft, Maxeon, Technologies, Reuters, Services, AMD, Anheuser, Busch InBev —, Netflix, Wolfe Research, Barclays, SVB Securities, Berenberg Locations: Swiss Federal Institute of Technology of Lausanne, Lausanne, Switzerland, Japan, Latin America

☆ Google faces EU break-up order over anti-competitive adtech practices
▼ + stars: | 2023-06-14 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, U.S., November 17, 2021. Its 2022 advertising revenue, including from search services, Gmail, Google Play, Google Maps, YouTube adverts, Google Ad Manager, AdMob and AdSense, amounted to $224.5 billion. EU antitrust chief Margrethe Vestager said Google may have to sell part of its adtech business because a behavioural remedy is unlikely to be effective at stopping the anti-competitive practices. The Commission said it took issue with Google favouring its own online display advertising technology services to the detriment of competing providers of advertising technology services, advertisers and online publishers. Google is the world's dominant digital advertising platform with a 28% market share of global ad revenue, according to research firm Insider Intelligence.

Persons: Andrew Kelly, Margrethe Vestager, Foo Yun Chee, Sudip Kar, Philip Blenkinsop, Gupta, Kirsten Donovan Organizations: Google LLC, Google, Chelsea, REUTERS, Gmail, European, EU, The, AdX, Intelligence, Reuters, Thomson Locations: Manhattan , New York City, U.S, BRUSSELS, AdSense, United States

BRUSSELS/STOCKHOLM, June 14 (Reuters) - EU lawmakers on Wednesday voted for tougher landmark draft artificial intelligence rules that include a ban on the use of the technology in biometric surveillance and for generative AI systems like ChatGPT to disclose AI-generated content. The lawmakers agreed the amendments to the draft legislation proposed by the European Commission which is seeking to set a global standard for the technology used in everything from automated factories to bots and self-driving cars. Microsoft, which has called for AI rules, welcomed the lawmakers' agreement. However, the Computer and Communications Industry Association said the amendments on high-risk AIs were likely to overburden European AI developers with "excessively prescriptive rules" and slow down innovation. The lawmakers will now have to thrash out details with European Union countries before the draft rules become legislation.

Persons: Elon Musk, Sam Altman, Brando Benifei, Thierry Breton, Foo Yun Chee, Bart Meijers, Supantha Mukherjee, Emelia Sithole Organizations: European, Microsoft, Elon, Big Tech, Union, Computer and Communications Industry Association, AIs, The Commission, Thomson Locations: BRUSSELS, STOCKHOLM, Europe, United States, China, Brussels, Stockholm

☆ DoubleLine’s Gundlach says the Fed will break something if it sticks to its rate-hiking path
▼ + stars: | 2023-06-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

DoubleLine Capital CEO Jeffrey Gundlach said Wednesday that the Federal Reserve could tip the economy into a recession if the central bank follows through on its rate-hiking path this year. "I think that if the Fed follows the path that they're talking about, ... they are going to break something," Gundlach said on CNBC's " Closing Bell." The Fed paused its hiking campaign in June, but forecast it will raise interest rates as high as 5.6% before 2023 is over. The so-called dot-plot released Wednesday projected two more increases left in 2023, if the central bank keeps its rate-hiking pace at quarter-point increments. Gundlach said he doesn't think the Fed is going to be raising interest rates again as data are expected to deteriorate.

Persons: Jeffrey Gundlach, Gundlach, Jay Powell, we're, Jerome Powell, Powell, hasn't Organizations: DoubleLine, Federal, Fed

☆ The Fed forecasts two more hikes in 2023, taking rates as high as 5.6%
▼ + stars: | 2023-06-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

WASHINGTON, DC - MAY 03: Federal Reserve Board Chairman Jerome Powell delivers remarks at a news conference following a Federal Open Market Committee meeting on May 3, 2023 in Washington, DC. The Federal Reserve announced a 0.25 percentage point interest rate increase bringing the key federal funds rate to more than 5%, a 16-year high. (Photo by Anna Moneymaker/Getty Images) (Photo by Anna Moneymaker/Getty Images)The Federal Reserve paused its hiking campaign in June, but forecast it will raise interest rates as high as 5.6% before 2023 is over, according to the central bank's projections released on Wednesday. The Fed on Wednesday kept the key borrowing rate in a target range of 5%-5.25%. Fed Chairman Jerome Powell said the next gathering for the committee in July remains a "live" meeting, signaling that a quarter-point hike isn't baked in yet.

Persons: Jerome Powell, Anna Moneymaker, Powell, hasn't Organizations: Federal Reserve, Fed, Wednesday Locations: WASHINGTON, DC, Washington ,

"This would be the nail in the coffin for Huawei in Europe," said Paolo Pescatore, an analyst at PP Foresight. China has asked for Huawei to be one of the main points on the agenda, one of the sources familiar with the matter said. Germany's China hawks expressed outrage in March when a Reuters story revealed that German state rail operator Deutsche Bahn was using Huawei gear to digitalise its operations. Berlin in 2021 passed a law setting high hurdles for makers of telecommunications equipment for the "critical components" of 5G networks. It is estimated it would cost billions of euros to rip out and replace Huawei equipment in European countries, potentially burdening telecom companies already sitting on huge debts.

Persons: Paolo Pescatore, Andrew Small, Mikko Huotari, Sweden's, Sarah Marsh, Andreas Rinke, Supantha Mukherjee, Foo Yun Chee, Sergio Goncalves, Mark Potter Organizations: European, Huawei, Deutsche Telekom, Foresight, Deutsche Bahn, Mercator Institute for China Studies, Telecom, Nokia, Sweden's Ericsson, Thomson Locations: BERLIN, STOCKHOLM, Germany, Brussels, Berlin, Beijing, Europe, China, China's, Denmark, Portugal, West, U.S, Stockholm, Lisbon

☆ Here are 'anti-inflation' stocks that outperform as prices ease
▼ + stars: | 2023-06-13 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Inflation continued to slow in May, and the stocks that have benefited from easing prices could continue to enjoy the boost. The inflation rate cooled in May to its lowest annual rate in about two years, with the consumer price index increasing just 0.1% for the month. A slew of stocks have historically tracked the opposite direction of rising prices, and they should continue to outperform the market as inflation cools, according to Bank of America analysis. The Wall Street firm created an "Anti-Inflation" screen with S & P 500 companies whose relative performance has a strong negative relationship — or beta — with inflation. Bank of America's screen also included other consumer discretionary names such as O'Reilly Automotive , Ross Stores , Home Depot and Lowe's .

Organizations: Bank of America, Bank of, O'Reilly Automotive, Ross Stores, Kroger

☆ Cathie Wood builds a $47 million bet on Meta after exiting A.I. winner Nvidia too early
▼ + stars: | 2023-06-13 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Ark Invest's Cathie Wood built a sizable stake in Meta Platforms Monday after the innovation investor missed out on the recent rally in artificial intelligence winner Nvidia . Wood snapped up 150,459 shares of the Facebook parent for her flagship ARK Innovation ETF in the previous session. META YTD mountain Meta Platforms Meta has been a popular tech and AI play for hedge fund investors, including David Tepper, Daniel Sundheim and Philippe Laffont. Meta recently announced AI computer chips, which will power more advanced metaverse-related tasks, such as virtual reality and augmented reality, as well as generative AI. Wood revealed that her reason for dumping Nvidia was its high valuation as the stock was "priced ahead of the curve."

Persons: Wood, David Tepper, Daniel Sundheim, Philippe Laffont, Meta Organizations: Nvidia, Tesla, Taiwan Semiconductor, ARK Autonomous Technology & Robotics Locations: ARKK

☆ Exclusive: Broadcom set to win EU nod for $61 bln VMware deal, sources say
▼ + stars: | 2023-06-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

The EU antitrust watchdog, which is scheduled to decide on the deal by July 17, and Broadcom declined to comment. One of the remedies focuses on Fibre Channel Host-Bus Adapters (FC HBAs) and is targeted at rival Marvell Technology, one of the people said. Marvell Technology did not respond to a request for comment. FC HBAs are storage adapters that connect servers to storage located outside the server on a storage-area network using the fiber channel protocol, typically through a switch. Broadcom is a leading supplier of FC HBAs.

Persons: Foo Yun Chee, Kirsten Donovan Organizations: chipmaker Broadcom, VMware, Broadcom, HBAs, Marvell Technology, FC HBAs, Thomson Locations: BRUSSELS, EU

☆ EU regulators may demand Google to sell part of ad-tech business - source
▼ + stars: | 2023-06-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

June 12 (Reuters) - European Union antitrust regulators may order Alphabet Inc's (GOOGL.O) Google to sell a part of its advertising-technology business, a source with direct knowledge of the matter told Reuters on Monday. However, frustration has been mounting after Google failed to address competition concerns, the source said. The Commission and Google did not immediately respond to Reuters' requests for comment. Google is the most dominant digital advertising platform in the world with a 28% market share of global ad revenue, according to research firm Insider Intelligence. Google's dominance in online advertising has been increasingly questioned over the past few years.

Persons: Nilutpal Timsina, Akriti Sharma, Maju Samuel, Rashmi Organizations: Union, Google, Reuters, European Commission, Commission, Intelligence, United, Wall, Thomson Locations: United States

☆ EU countries amend draft proposal on gig workers' rights, companies unhappy
▼ + stars: | 2023-06-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

REUTERS/Toby MelvilleBRUSSELS, June 12 (Reuters) - EU countries on Monday tweaked draft rules aimed at giving workers at online companies such as Uber (UBER.N) and Deliveroo (ROO.L) employee benefits, ahead of negotiations with EU lawmakers who want more comprehensive rules than both EU governments and the European Commission. In their draft version agreed on Monday, EU countries propose that companies will be considered employers if they meet three out of seven criteria. The EU executive said the rules would cover some 4.1 million of the 28 million workers at online platform companies across the 27-country European Union. Uber criticised the proposals from both EU countries and lawmakers. EU countries, EU lawmakers and the Commission will now thrash out the details before the draft becomes legislation.

Persons: Toby Melville BRUSSELS, Uber, Anabel Diaz Calderon, Glovo, Foo Yun Chee, Susan Fenton Organizations: Chopin, REUTERS, European Commission, EU, Union, Thomson Locations: Warsaw, Poland, Europe, EU

☆ Ray Dalio says Treasurys are risky, and stocks are a better bet here
▼ + stars: | 2023-06-12 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Ray Dalio thinks U.S. government bonds are becoming risky as the country falls deeper into its debt crisis. "I think it's a very risky investment," Dalio said Monday on CNBC's " Squawk on the Street " when asked about Treasurys. "Other countries still are increasingly feeling worried about sanctions," Dalio said. In such an environment, equities tend to do better than government bonds, Dalio said. It devalues money," Dalio said.

Persons: Ray Dalio, Dalio, Richard Nixon Organizations: Bridgewater Associates, Federal Reserve

☆ Goldman says buying these catch-up candidates is the best way to play its brighter market outlook
▼ + stars: | 2023-06-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Goldman Sachs lifted its year-end target on the S & P 500 and sees market laggards playing catch up with this year's leaders. The Wall Street firm boosted its 2023 forecast for the S & P 500 to 4,500, which represents about 5% upside from current levels and is a 12.5% increase from Goldman's previous target of 4,000. Signs of such a shift have recently emerged as cyclical stocks have outperformed their defensive counterparts lately, but plenty of cyclicals have missed out, Goldman said. To find opportunities among the laggards, Goldman screened the Russell 3000 Index, looking for cyclical stocks with market caps greater than $2 billion. It found a list of names with valuations below the S & P 500 and improving fundamentals, demonstrated by improved 2024 earnings revisions.

Persons: Goldman Sachs, Goldman, David Kostin Organizations: Fed, Equity Investment, CNO Financial, Everest Re, RenaissanceRe Holdings Locations: Cleveland

MILAN/BRUSSELS, June 12 (Reuters) - EU antitrust regulators who raided Kering's (PRTP.PA) Gucci and other fashion firms in April are looking into how they set prices of handbags and leather goods for distributors, three people with direct knowledge of the matter told Reuters. Kering confirmed at the time that Gucci was cooperating with the EU regulators after Reuters previously reported the European Union dawn raid on its site in Milan, which makes such products. The Commission, which did not name the companies it raided, said at the time that they may have breached EU antitrust rules against cartels and restrictive business practices, but did not provide details. Such practices are illegal under EU antitrust rules and breaches can lead to fines up to 10% of a company's global turnover. U.S. clothing company Guess (GES.N) was hit with a 40 million euro ($43 million) fine in 2018 for preventing retailers from setting the retail price of its products independently.

Persons: Gucci, Kering, Foo Yun Chee, Emilio Parodi, Silvia Aloisi, Alexander Smith Organizations: MILAN, Reuters, European, EU, Thomson Locations: BRUSSELS, Kering's, Milan, Paris

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