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☆ Health care has had a tough year. Where we stand on our 5 stocks in the sector
▼ + stars: | 2023-09-22 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +12 min

Bausch Health (BHC) is a different case. Key points Health-care stocks outperformed the broader U.S. stock market last year, but this year it's been much-tougher sledding for the sector due to a variety of headwinds. We feel comfortable owning our three other primary health care stocks: GE Healthcare, Humana and Danaher. In recent weeks, analysts at Wells Fargo and Citigroup have started coverage of GE Healthcare with buy ratings. The analysts at Jefferies now rate Bausch Health stock a buy, with a price target increase to $16 per share from $9.

Persons: There's Eli Lilly, Eli Lilly, That's, Eli Lilly's, Ryan Issakainen, we're, Issakainen, –, Stryker, Jim Cramer, it's, Jim, We've, Bausch, BHC, We're, I'm, Jefferies, Jim Cramer's, Frederick Florin Organizations: GE Healthcare, Health, Federal Reserve, First Trust Advisors, Humana, Medicare, Dow, UnitedHealth, GE, General Electric, —, Citigroup, Jefferies, CNBC, AFP, Getty Locations: what's, China, STE, Biogen, Wells, Bausch, Fegersheim, France

☆ Indian shares set for subdued open as Fed angst weighs
▼ + stars: | 2023-09-22 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai, India, July 12, 2023. Already, foreign investors have been net sellers so far this month, offloading shares worth $996.2 million as of Sept. 20. Foreign institutional investors (FII) sold shares worth 31.11 billion rupees ($375.2 million), on a net basis, on Wednesday and 30.07 billion rupees worth on Thursday, according to stock exchange data. Domestic investors, meanwhile sold shares worth 5.73 billion rupees on Wednesday but bought shares worth 11.58 billion rupees on Thursday, the data showed. Meanwhile, Indian government bonds will be included in JPMorgan's widely tracked emerging market debt index from June 2024, the Wall Street bank said on Friday.

Persons: Francis Mascarenhas, Dalal, Aparna Iyer, Raja, Tesla, Archishma Iyer, Anisha Ajith, Savio D'Souza Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, Exchange, BSE, Federal Reserve, Wipro, LG Energy, Exide Industries, Power Systems, Glenmark Pharmaceuticals, Sciences, Glenmark Pharma, Teck Resources, Sethuraman NR, Thomson Locations: Mumbai, India, U.S, Asia, Pacific, Japan, Teck

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 21 (Reuters) - Arm Holdings' stock on Thursday dipped for the first time below its initial public offering price, while short sellers appeared to be betting against the chip designer just a week after its Wall Street debut. Shares of Klaviyo (KVYO.N) which debuted on Wall Street on Wednesday, finished up 2.9% at $33.72 versus the marketing automation firm's $30 IPO price. Suggesting short sellers are betting against Arm, about 14 million of its shares were on loan, equivalent to 8% of the stock's free float, data and analytics company Ortex said. Short sellers borrow stocks to short them, and the relationship between shares on loan and shorted is normally close, according to Ortex. Arm shares appear highly shorted compared to other recent IPOs.

Persons: Dado Ruvic, Ortex, Peter Hillerberg, Noel Randewich, Lewis Krauskopf, Lance Tupper, Richard Chang Organizations: REUTERS, Arm Holdings, Nasdaq, Federal, U.S, Thomson

☆ Exclusive: China scrutinizes quant strategies as market weakness stokes public anger - sources
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +4 min

A man wearing a protective mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a new coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. Separately, the Shanghai and Shenzhen stock exchanges, under the CSRC's guidance, have sought information from major quant funds on their money-making strategies, another source said. The weakness has triggered finger-pointing in social media, as well as criticism from fund managers and retail investors against these quant funds and short sellers. Short-selling activities by quant funds could also be caught in the crossfire, he said. Another brokerage source said the CSRC asked them to elaborate on the size of their quant clientele and whether quant trading had impacted recent stock market.

Persons: Aly, shortsellers, Yuan Yuwei, Yang Tingwu, Shri Navaratnam Organizations: Shanghai Stock Exchange, REUTERS, Rights, China Securities Regulatory Commission, Global, Sigma, Huatai Securities, China's, Quant Investment, Yanfu Investments, Shanghai Minghong Investment Management Co, Wisdom Asset, Tongheng Investment, Shanghai, Thomson Locations: Pudong, Shanghai, China, Shenzhen, Winton, Beijing

☆ U.S. stock prices near level for 'mechanical selling' - Nomura's McElligott
▼ + stars: | 2023-09-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

[1/2] Options floor brokers work on the floor of the NYSE American, formerly known as the American Stock Exchange (AMEX), at New York Stock Exchange (NYSE) in New York City, U.S., July 11, 2023. On Wednesday, the S&P 500 (.SPX) dropped to 4,401.38, near a a four-week low, putting the index on the verge of setting off a deluge of "mechanical selling", or stock selling by options dealers and certain trend-following investors, including commodity trading advisors (CTAs), Nomura’s McElligott said. The selloff also pushed the Cboe Volatility Index (.VIX) - an options-based gauge of expected stock market gyrations - to its highest in nearly four weeks. A drop below the 4,409 level for the S&P 500 triggers selling by CTAs with an estimated $12.3 billion of stock futures up for sale in aggregate, McElligott estimates. If investors react to the latest drop in the market by selling volatility or by taking profits on existing hedges it could help stifle the selling pressure on the market, he said.

Persons: Brendan McDermid, Nomura, Charlie McElligott, Nomura’s McElligott, McElligott, Saqib Iqbal Ahmed, Ira Iosebashvili, David Gregorio Our Organizations: NYSE, American Stock Exchange, New York Stock Exchange, REUTERS, Federal Reserve, Thomson, & $ Locations: New York City, U.S, Charlie McElligott .

☆ China is probing hedge funds that profit from its economic misery, report says
▼ + stars: | 2023-09-21 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

China is scrutinizing hedge funds betting against its struggling economy, according to Reuters. Beijing has put the squeeze on brokerages that use quantitative strategies to short-sell the market, the outlet reported. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. That's dragged down Chinese stocks this year, with the flagship CSI 300 index down 5% and Hong Kong's Hang Seng index slumping 11% so far in 2023. As well as pushing back against these trading strategies, policymakers halved the stamp duty that investors are required to pay when trading stocks last month in a bid to revive China's stagnant markets.

Persons: That's Organizations: Reuters, CSI, Service, country's Securities, Commission, Financial Times Locations: China, Beijing, Wall, Silicon

☆ Here's a rapid-fire update on all 35 stocks in the Club's portfolio, including a new buy
▼ + stars: | 2023-09-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. But for investors who haven't bought into its steep pullback, it's reasonable to buy some shares at current levels around $146.50 each. Unless you believe inflation is going to keep raging, making Microsoft's price-to-earnings multiple too high, then this stock is a buy. Nvidia (NVDA): Investors who don't own Nvidia yet should use its recent weakness to start a position, Jim said. Pioneer Natural Resources (PXD): We decided to buy additional Pioneer shares Thursday as the stock fell more than 2%.

Persons: Jim Cramer's, Jim, Amazon, he's, could've, We're, Jefferies, it's, we'd, Dupont De Nemours, That's, Dupont, Danaher, Bob Iger, Estee Lauder, haven't, Locker, Marry Dillon, Leqembi, Eli Lilly's donanemab, Vimal Kapur, Eli Lilly, Mark Zuckerberg, Morgan Stanley, Morgan, we're, James Gorman, Oracle, Safra Catz, Elliott, Stanley Black, Decker, TJ Maxx, Wells Fargo, Wells, Wynn, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Web Services, Broadcom, Google, Bausch Health, Health, Caterpillar, Costco Wholesale, Costco, Coterra Energy, Coterra, Emerson, National Instruments, Ford, United Auto Workers, GE Healthcare, Honeywell International, Honeywell, Linde, LIN, Mounjaro, Meta, Microsoft, Nvidia, Oracle, Palo Alto Networks, Procter & Gamble, Natural Resources, Starbucks, Constellation Brands, Constellation, Elliott Management, TJX, Marshalls, Wynn Resorts, WYNN Locations: China, India, Dupont, Emerson, Meta, Beijing, HomeGoods

This means mortgage rates are likely to stay near their current levels, barring any changes in the current economic outlook. Average 30-year mortgage rates will likely continue to hover right around 7% for at least the next few weeks. We'll also likely see mortgage rates drop once the Fed starts cutting rates, though that might not be until later next year. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Selma Hepp, We'll, There's, you'll, Fannie Mae Organizations: Federal Reserve, Fed, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Compass CEO: There are more buyers than sellers, and inventory levels have hit their low
▼ + stars: | 2023-09-21 | 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 EmailCompass CEO: There are more buyers than sellers, and inventory levels have hit their lowRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss why the housing sector may be taking a turn for the worse, what the inventory bottom reflects, and if people are beginning to accept higher mortgage rates.

Persons: Robert Reffkin

☆ A candy-store owner explains how he's made over $2.5 million in sales from TikTok Shop
▼ + stars: | 2023-09-21 | by ( Marta Biino | ) www.businessinsider.com time to read: +6 min

The @sosweetshopuk account had 800,000 followers by March 2022, when Robinson began using TikTok Shop, the platform's shopping feature that allows in-app purchases. He soon established a relationship with the TikTok Shop team, who have been helping him navigate the platform and boost sales. Robinson says the lifetime sales of SoSweet products on TikTok Shop are over $2.5 million (£2 million). On the right, a screenshot of what SoSweet's TikTok Shop page looks like. Maryam Malik/SoSweet/TikTokTo spread the firsthand knowledge he's gained, Robinson recently started his own TikTok Shop Partner agency, to consult for small businesses on how to get started on TikTok Shop and how to use it for sales.

Persons: George Robinson, SoSweet, Robinson, Gavin, Stacey, George Robinson Virality, TikTok, Sellers, —, Maryam Malik, he's Organizations: Facebook, Bloomberg, SoSweet, Merchants Locations: Devon, England, Newquay , Cornwall, TikTok

WASHINGTON (AP) — President Joe Biden has asked Vice President Kamala Harris to lead the first-ever federal office of gun violence prevention, which will seek to find ways around congressional inaction to stem rising violence. Harris, a former prosecutor and state attorney general, has years of experience on the issue and was the natural fit to lead the effort, White House officials said. “Throughout her career, the vice president has worked tirelessly to protect people from gun violence,” said Kristine Lucius, a domestic policy aide to Harris. Overall, stricter gun laws are desired by a majority of Americans, regardless of what the current gun laws are in their state. Among its first directives will be to ensure a federal gun safety law passed last year is being fully implemented.

Persons: Joe Biden, Kamala Harris, Harris, they’re, “, ”, Kristine Lucius, she's, Biden, Stefanie Feldman, ” Biden, Greg Jackson, Rob Wilcox Organizations: WASHINGTON, White, The Associated Press, USA, Northeastern University, Community, Action Fund, Associated Press, NORC, for Public Affairs Research Locations: Congress, U.S, Uvalde , Texas

LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell for the third month in a row in August, as higher mortgage rates, rising prices and a dearth of properties on the market shut out many would-be homebuyers. Would-be homebuyers are also seeing their purchasing power diminish as mortgage rates push higher. Mortgage rates have been echoing moves in the 10-year Treasury yield, which lenders use as a guide to pricing loans. The yield has been climbing amid expectations that the Federal Reserve will keep short-term interest rates higher for longer to fight inflation. “It's possible mortgage rates may go up to 8% in the short run,” Yun said.

Persons: ”, Lawrence Yun, Yun, Freddie Mac, “, ” Yun Organizations: ANGELES, National Association of Realtors, “, Buyers, NAR, Treasury, Federal Reserve, Federal Locations: U.S, It’s

☆ Klaviyo, Arm, Instacart wobble, raising doubts over IPO revival
▼ + stars: | 2023-09-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Among other companies that have been gearing up for U.S. stock market listings are German premium footwear maker Birkenstock Holding and Vietnam internet company VNG Corp (VNZ.HNO). Chip designer Arm's stock on Wednesday hit a low of $51.52, coming close to its $51 IPO price in this year's biggest IPO last Thursday. Shares of grocery delivery app Instacart, which debuted Tuesday, fell to a low of $29.96, below their $30 IPO price. Klaviyo also surrendered most of its initial gains, hitting a low for the day of $30.26, just above its $30 IPO price. Arm and Instacart were "pumped up to do the IPO," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.

Persons: Dado Ruvic, Robert Pavlik, Klaviyo, Jerome Powell, haven't, ”, Jake Dollarhide, Ortex, Peter Tuz, Mark Luschini, Janney Montgomery Scott, Caroline Valetkevitch, Savyata Mishra, Niket, Lewis Krauskopf, Noel Randewich, Marguerita Choy, Stephen Coates Organizations: REUTERS, Arm Holdings, Investment, Dakota Wealth, Birkenstock, VNG Corp, Federal, Nasdaq, Longbow, Management, Chase Investment, People, Thomson Locations: Fairfield , Connecticut, Vietnam, Tulsa , Oklahoma, Charlottesville , Virginia, Bengaluru, New York, San Francisco

Effective Oct. 1, Amazon was planning to impose a new 2% fee on every sale by third-party sellers that ship their products themselves, according to media reports in August. "After careful consideration, we've made the decision not to implement this program fee to ensure seller sentiment related to the fee does not impact program participation," an Amazon spokesperson told Reuters. The reversal in Amazon's plans comes when the company is facing a potential lawsuit from the U.S. Federal Trade Commission. The FTC is expected to file a lawsuit against Amazon later this month after the company did not offer concessions to settle antitrust claims, the Wall Street Journal reported. Amazon has been criticized for allegedly favoring its own products over those from outside sellers on its platform.

Persons: we've, Trump, Deborah Sophia, Pooja Desai Organizations: Amazon, Reuters, U.S . Federal Trade Commission, Bloomberg, FTC, Wall Street Journal, Thomson Locations: Bengaluru

The move suggests the company is taking a more cautious approach to how much money it can charge online sellers, the Bloomberg report said. Effective Oct. 1, Amazon was planning to impose a new 2% fee on every sale by third-party sellers that ship their products themselves, according to media reports in August. The FTC is expected to file a lawsuit against Amazon later this month after the company did not offer concessions to settle antitrust claims, the Wall Street Journal reported. The FTC began probing the company during the Trump administration, when it also launched investigations into other tech majors. Amazon has been criticized for allegedly favoring its own products over those from outside sellers on its platform.

Persons: Pascal Rossignol, Trump, Deborah Sophia, Pooja Desai Organizations: REUTERS, Bloomberg, U.S . Federal Trade Commission, FTC, Amazon, Wall Street Journal, Thomson Locations: Bengaluru

☆ Amazon sellers are raiding dollar stores for products like glow sticks and Twinkies to resell online
▼ + stars: | 2023-09-20 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Amazon resellers are looking to dollar stores for items they can flip for profit. Some are picking up penny items at overstocked Dollar General stores. Products that are worth flipping from Dollar Stores range from glow sticks to Twinkies, according to videos posted on TikTok. She said her source for the glow sticks was a Dollar Tree store. Other shoppers take advantage of Dollar General items that sell for $0.01 each.

Persons: forbiddenfruitreselling, Orange Organizations: Dollar, Service, Amazon, Walmart Locations: Wall, Silicon

☆ Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.
▼ + stars: | 2023-09-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Most NFTs are now likely worthless, less than two years after a massive bull run in the digital collectibles. A new study found 95% of over 73,000 NFT collections have a market cap of 0 ETH. Out of 73,257 NFT collections, 69,795 of them have a market cap of zero ether, based on data provided by NFT Scan and CoinMarketCap. In 2021 and 2022, the NFT market saw a huge bull run, at one point leading to $2.8 billion in monthly trading volume. Out of the top 8,850 collections by market cap, 18% are worthless, and 41% are priced at $5-$10.

Persons: dappGambl, Stephen Curry, Snoop Dogg, bitcoin Organizations: Service Locations: Wall, Silicon

☆ These are the 10 most affordable US cities to live in with mortgage rates near multi-decade highs, according to Bank of America
▼ + stars: | 2023-09-20 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Mortgage rates are at their highest levels since the early 2000s after slipping late last year, while home price growth has ticked back up this summer after steadily falling from its pandemic peak. Mortgage rates are near multi-decade highs right now. Many people are bailing on big, pricey citiesBut not all US cities are equally affected by lofty mortgage rates and elevated property prices. 10 highly affordable US citiesProspective property owners priced out of costly cities and squeezed by historically high mortgage rates may want to look at homes in the most affordable US markets. Below are the 10 US markets with the highest affordability values as of the most recent data, according to Bank of America and the National Association of Realtors.

Persons: Freddie Mac, BofA Organizations: Federal Reserve, Bank of America, National Association of Realtors ., Denver, The Sunshine, National Association of Realtors, NAR Locations: San Jose , Los Angeles, Anaheim, National Association of Realtors . Florida, Colorado, Miami, Naples, Boulder, Angeles, New York, San Francisco, Seattle, Jacksonville , Florida, Columbus , Ohio, Austin , Texas, San Antonio , Texas, Tampa , Florida, Orlando , Florida

☆ The single biggest piece of the economy is showing signs of deteriorating
▼ + stars: | 2023-09-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

While consumer spending data has been surprisingly resilient this year, there are signs that household wallets may have hit their limit. "We asked consumers about their Holiday season spending plans in July and September. The percentage of consumers who said they plan to spend less this Holiday season jumped 840 [basis points] sequentially, while the percentage who said they plan to spend more rose only 340 [basis points]. "The U.S. consumer will determine whether or not the U.S. economy glides down for a 'soft landing' in the months ahead. On Wall Street, slower consumer spending would spell particularly bad news for retailers that are already struggling.

Persons: Jay Sole, Wolfe, Chris Senyek, we've, Senyek, UBS's, Michael Bloom Organizations: Federal Reserve, U.S, Target, Dick's Sporting Goods, UBS, Fed, Wolfe Research, Retail Locations: U.S

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Sept 20 (Reuters) - Shares of Arm Holdings fell for a fourth straight session on Wednesday after the chip designer's stellar market debut last week, with short seller interest picking up. That was up from 5.12 million shares on loan, or 2.7% of the stock's free float, on Tuesday. Short sellers need to borrow a stock to short it, and the relationship between shares on loan and shorted is normally quite close, Ortex said. Arm and Instacart were "pumped up to do the IPO," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Arm also has a limited number of publicly traded shares, with SoftBank (9984.T) holding a roughly 90% stake.

Persons: Dado Ruvic, Ortex, Peter Tuz, Caroline Valetkevitch, Lewis Krauskopf, Saqib Iqbal Ahmed, Lance Tupper, Richard Chang Organizations: REUTERS, Arm Holdings, Chase Investment, People, Thomson Locations: Charlottesville , Virginia

The zoo is run by the local government, which was said to be running out of money and therefore unable to feed its charges. These vehicles are legal entities created by Chinese cities to circumvent borrowing restrictions imposed by the central government in Beijing. “Why hurt small businesses which are the weakest?”Noodle sellers in Shanghai have been fined for adding cucumber to their dishes. Last year, Beijing issued a directive forbidding local governments from imposing “arbitrary fines” to generate income, and dispatched inspection teams to check that the policy was being followed. The scale of financial stress among China’s local governments is so big that “creative” sources of income can only cover a relatively small shortfall, he said.

Persons: hadn’t, Xi Jinping’s, ”, Willy Lam, Lam, “, Aly Song, Jiemian, Logan Wright, hasn’t, Li Qiang, Steve Tsang, Joseph Cheng, —, Martha Zhou Organizations: Hong Kong CNN, Species Fund, CNN Local, China Newsweek, ” CNN, China National Radio, Washington, Jamestown Foundation, CNN, ”, Weibo, “, SOAS China, SOAS University of London, City University of Hong Locations: China, Hong Kong, Dongshan, Liaoning, Beijing, Shanghai, Henan, Huizhou, Nanchang, Qingdao, City University of Hong Kong

☆ Read the 16-page pitch deck that 'Million Dollar Listing' star Josh Flagg and his cofounders used to raise $1.7 million for their real estate media startup
▼ + stars: | 2023-09-20 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Celebrity real estate agent Josh Flagg, media exec Griff O'Brien, and investor Andrew Shanfeld have teamed up to launch Estate Media, a personality-driven media company. Real estate has become a huge pop culture topic, aided by reality TV series like "Selling Sunset" and the "Million Dollar Listing" franchise. The company will offer content created with a network of real estate personalities who, Estate Media said, reach a collective 25 million followers. While the real estate industry has come down from its pandemic frenzy, O'Brien believes Estate Media can ride ups and downs in the market. Scroll down to see the deck Estate Media used to raise its seed round.

Persons: Josh Flagg, Griff O'Brien, Andrew Shanfeld, O'Brien, Flagg, Shanfeld, Jack Davis, Chip, Joanna Gaines —, There's, Margot Ettedgui, TikToker Aaron Grushow, Robert Rivani, Glennda Baker, Ricky Carruth, Adam Weitsman, Chris Heller, Rich Antoniello, Austin Rief, Devin Emery, Brian Goldsmith, Ricky Van Veen, Justin Killion, Spence Markel Organizations: Estate Media, Entertainment, Crypt, HGTV, Los Angeles, Estate, Ojo Labs, Complex Networks, Austin, Morning, Growth Partners, Powerhouse Capital, CollegeHumor

☆ Side hustles could become a $1.4 trillion industry by 2030 thanks to ChatGPT and AI, Morgan Stanley says
▼ + stars: | 2023-09-20 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

ChatGPT could transform side hustles into a $1.4 trillion industry, according to Morgan Stanley. "Multi-earning has evolved into a secular growth theme, with generative AI the differentiator," strategists said. The bank said generative AI will boost gig workers' income by $83 billion, or 21%, in its base-case scenario, and by $300 billion in its bull-case outcome. Insider has previously reported on how gig workers have used OpenAI's intelligent language tool to plan vacations for clients, make pitch decks for startups, and generate marketing articles. This isn't the first time Morgan Stanley has backed AI to fuel trillions of dollars' worth of economic growth.

Persons: Morgan Stanley, Edward Stanley, Leonardo Sousa, ChatGPT Organizations: Service Locations: Wall, Silicon

☆ Block Inc's Square enters Canadian pot market with Jane Technologies as partner
▼ + stars: | 2023-09-20 | by ( Sourasis Bose | ) www.reuters.com time to read: +2 min

The logo for Square, Inc. is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsSept 20 (Reuters) - Square, a unit of fintech company Block Inc (SQ.N), said on Wednesday it would enter the Canadian cannabis market through a partnership with e-commerce platform Jane Technologies. Those who sign-up with Square for payments systems in physical stores would also be able to use Jane's platform for selling their products online, the companies said. Jane had entered Canada by partnering pot firm High Tide (HITI.V) in 2021. Rosenfeld said when regulations would allow for it, Jane is prepared to move this partnership beyond Canadian borders.

Persons: Andrew Kelly, —, Jack Dorsey, Jane, Roshan Jhunja, Socrates Rosenfeld, Rosenfeld, Sourasis Bose, Shilpi Majumdar Organizations: Inc, New York Stock Exchange, REUTERS, Block Inc, Jane Technologies, Twitter, Reuters, Thomson Locations: Manhattan , New York City, U.S, Ontario, Canada, Bengaluru

Three producers listed in the customs data confirmed to Reuters they had shipped coal from the two regions to Turkey during that period. Reuters was unable to find any information in customs data about deliveries of coal produced in the DNR to Turkey or other countries in 2022. Customs data shows Nedra-06 made two shipments of coal to Turkey totalling 1,600 tonnes in May and June. The buyers were Belize-based Brig Management LTD and Green Rabbit LTD of Hong Kong, the customs data showed. Coal bought at Russian ports by Brig Management LTD and Green Rabbit LTD was taken to Turkey, the data showed.

Persons: Vitaliy Khotsenko, Adzhmal, Vostokugol, Anton Nadeyev, Nadeyev, I'm, Denis Karashchuk, Karashchuk, Filipp Lebedev, Gleb Stolyarov, Humeyra Pamuk, Tom Balmforth, Julia Payne, Jose Sanchez, Mike Collett, White, Daniel Flynn Organizations: NATO, Reuters, European, British Virgin Islands, Donetsk People's Republic, Russia's Ministry of Energy, Federal Customs Service, Luhansk People's Republics, European Union, United, Ukraine, U.S . State Department, UN, Assembly, Florance, Management, Hong, Brig Management, Rabbit, Belize Companies, Corporate Affairs, Green Rabbit, Coal, Toksabay, Thomson Locations: Ukraine, Turkey Ankara, Russia, Turkey, Donetsk, Luhansk, United States, European Union, Moscow . Washington, Moscow, Ankara, Ukrainian, Hong Kong, UAE, Belize, British Virgin, East, Africa, Russian, Rostov, Novorossiisk, Turkey . U.S, Antratsyt, Yasynuvata, Tbilisi, Washington, Kyiv, Brussels

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