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☆ European markets are set to open mixed over global economic uncertainty
▼ + stars: | 2023-04-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

European markets are expected to open mixed Thursday as investors continue to weigh up an uncertain global economic outlook. U.S. private payrolls rose by 145,000 in March, which showed job growth had slowed significantly more than anticipated. The ISM Purchasing Managers' Index showed a monthly decline, while another U.S. labor report on Wednesday showed job openings dropped to their lowest level in nearly two years. Investors are now looking ahead to non-farm payrolls data on Friday. Asia-Pacific markets largely fell on Thursday as Wall Street digested the latest ADP private payrolls report, which showed slowing job growth in March, while U.S. stock futures were near flat Wednesday night as investors also considered what the latest data would mean for the economy.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, Nov. 9, 2022. The yield on the benchmark 10-year Treasury note was up by almost 1.3 basis points at 3.349% near 2 a.m. ET, while the yield on the 30-year Treasury bond saw an uptick of half a basis point to 3.599%. Job data released Tuesday showed vacancies fell below 10 million in February for the first time in nearly two years, pressuring Treasury yields as investors considered whether the information could deter the Fed from further rate hikes. The Fed is next scheduled to meet in early May, when the policy rate will likely rise by a further 25 basis points, according to the CME Group's FedWatch tool.

☆ 'The first bank crisis of the Twitter generation': The pressure on banks is very different from 2008
▼ + stars: | 2023-03-27 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

It is "unlikely" that European banks will undergo anything as serious as in 2008, according to economists. But a banking crisis today would look very different from 15 years ago thanks to social media, online banking, and huge shifts in regulation. This is "the first bank crisis of the Twitter generation," Paul Donovan, chief economist at UBS Global Wealth Management, told CNBC earlier this month, in reference to the collapse of Credit Suisse . watch nowRegulators shuttered Silicon Valley Bank on March 10 in what was the biggest U.S. bank collapse since the global financial crisis in 2008. Risk in the banking system today is significantly less than it has been at any time over the last 20 or 30 years.

☆ Swiss National Bank chair: Maintaining stability is our main goal
▼ + stars: | 2023-03-23 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

Chairman of the Swiss National Bank, Thomas Jordan, discusses the bank's decision to hike interest rates and its response to the Credit Suisse fallout with CNBC's Joumanna Bercetche.

☆ Swiss central bank hikes interest rates by 50 basis points despite Credit Suisse turmoil
▼ + stars: | 2023-03-23 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

The Swiss national flag hangs from the Federal Palace, Switzerland's parliament building, in Bern, Switzerland, on Thursday, Dec. 13, 2018. Photographer: Stefan Wermuth/Bloomberg via Getty ImagesThe Swiss National Bank raised its benchmark interest rate by 50 basis points Thursday, taking it to 1.5%. The Swiss National Bank had hinted there could be further rate hikes on the horizon if inflationary pressures continued. The Swiss National Bank has been in the global spotlight in the last week after it agreed to lend embattled lender Credit Suisse up to 50 billion Swiss francs ($53.68 billion). Shares of the lender had plummeted on news that its biggest investor, Saudi National Bank, would not provide further financial assistance.

☆ European markets expected to open higher after bank lifelines eased crisis fears
▼ + stars: | 2023-03-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Former Reserve Bank of India Governor Raghuram Rajan thinks it's still too early to tell whether the U.S. rescue plan to stem bank contagion risks has worked. "I think what's happened so far, in terms of the rescues, is sort of done the first aid. The question is — is there a slow bleed that is still going on," he told CNBC's "Street Signs Asia." Rajan, now a professor of finance at The University of Chicago Booth School of Business, noted questions remain around the collapse of Silicon Valley Bank. "How come a mid-size bank was oblivious of interest rate risk?"

Commuters cycle past a Credit Suisse Group AG bank branch in Basel, Switzerland, on Tuesday, Oct. 25, 2022. Credit Suisse will present its third quarter earnings and strategy review on Oct. 27. Shares of Credit Suisse on Wednesday hit another all-time low for a second consecutive day, dropping by more than 24% at one point during the session. Credit Suisse's largest investor, Saudi National Bank, said it could not provide the Swiss bank with any further financial assistance, according to a Reuters report, sparking the latest leg lower. It's a regulatory issue," Saudi National Bank Chairman Ammar Al Khudairy told Reuters Wednesday. However, he added that the SNB is happy with Credit Suisse's transformation plan and suggested the bank was unlikely to need extra money.

☆ Power cuts, war, and hybrid cars are predicted to cause a platinum price surge in 2023
▼ + stars: | 2023-03-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +4 min

South Africa typically accounts for more than 70% of the world's platinum mining supply, according to UBS, but the process has been restricted by the country's deepening power crisis. There will be some recovery in the recycled platinum supply in 2023, but the amount will remain below pre-pandemic levels, the WPIC estimates. Global automotive demand for platinum is expected to increase by 10% in 2023 to 3.246 million ounces, according to the WPIC. Jewelry is "probably the area of greatest uncertainty" when it comes to platinum demand, Sterck told CNBC, but it is a relatively small component in the picture. Industrial demand for platinum will increase by 12% year-on-year in 2023, according to the WPIC, with platinum usage in the glass and medical industries, in particular, expected to increase.

☆ Trump super PAC accuses Ron DeSantis of 'shadow' presidential bid in ethics complaint
▼ + stars: | 2023-03-15 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

A pro-Trump super PAC on Wednesday said it is filing an ethics complaint against Florida Gov. Ron DeSantis, accusing him of waging a "shadow presidential campaign" in violation of state ethics and election laws. "Governor DeSantis knows, or should know, that his shadow presidential campaign is illegal under federal election law, Florida ethics laws prohibiting illegal gifts from political committees, and Florida ethics laws prohibiting illegal lobbying payments," it said. The Florida ethics commission did not provide a comment on the letter. Five of the nine members of the Florida ethics commission were appointed by DeSantis, including Chairman Glenton Gilzean, to whom the letter is addressed.

☆ Britain's BBC battles mutiny in its sports department after social media clash
▼ + stars: | 2023-03-13 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Gary Lineker's tweets and the BBC's response caused public backlash and a weekend of disrupted sports programing as fellow presenters walked out in protest. LONDON — The BBC, Britain's public service broadcaster, is trying to navigate itself out of crisis mode following a mutiny within its sports department regarding social media usage. The BBC suspended Lineker, who is employed by the broadcaster on a freelance basis, on Friday. "We consider [Lineker's] recent social media activity to be a breach of our guidelines," a BBC statement read. The BBC's response led to walkouts among Lineker's colleagues, which disrupted sports programing across Saturday and Sunday.

☆ European markets expected to lower open after a week of market sell-offs
▼ + stars: | 2023-03-10 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

Economists expect data coming Friday before the bell to show hiring remained strong in February and that wages grew faster than they did in the prior month. Economists polled by Dow Jones forecast 225,000 new jobs were added in February, which would be lower than January's surprisingly large addition of 517,000 jobs. The unemployment rate, meanwhile, is expected to stay at 3.4%, which is a low not seen since 1969. And economists anticipate average hourly earnings will rise by 0.4% from January for a 4.8% year-over-year. That is more than the prior month, which brought a 0.3% month over month and 4.4% annualized increase.

☆ I have always worked twice as hard as men to be equal, IMF chief says
▼ + stars: | 2023-03-08 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Georgieva says she had to work "twice as hard" to be equal to her male colleagues. International Monetary Fund Managing Director Kristalina Georgieva told CNBC she has always worked "twice as hard" to be equal to her male colleagues. "I don't want my daughter and my granddaughter to have to work harder than men to be equal," she told CNBC's Tania Bryer in an interview broadcast Wednesday. Georgieva was appointed as managing director of the IMF in 2019 and is the second woman to hold the role. Therefore we need women to be equal to men, everywhere," she said.

☆ One of Europe's biggest banks is quickly rotating job roles to help women get to the top
▼ + stars: | 2023-03-08 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

More needs to be done to get women into management roles in finance, according to Santander Executive Chair Ana Botin. The finance industry is not quick enough at getting women into management positions, according to Santander's Executive Chair Ana Botin. "They're getting better, but not fast enough," Botin said in an interview with CNBC's Charlotte Reed last week. Botin said there are steps that financial institutions can take to ensure that women can secure top roles in the sector. The process of rotating roles around more often means that women can get the flexibility of experience they need to get to the top, she said.

☆ Commercial real estate has a 'shock coming' as return-to-office plans fall short, CEO says
▼ + stars: | 2023-03-07 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The conversation isn't about returning to the office, Mark Dixon, IWG CEO, told CNBC. There's a "shock" coming for the commercial real estate industry, but the opportunities ahead are huge, according to Mark Dixon, CEO of flexible office company IWG. Technology enabled a "fundamental seismic shift" in commercial real estate as the Covid-19 pandemic forced millions of people to work from home for the first time, Dixon said — and workers don't necessarily want things to go back to how they were before. It's a complete waste of time and money and they don't want to do it," Dixon told CNBC on "Squawk Box Europe" Tuesday. Dixon founded IWG — formerly known as Regus — in 1989.

☆ Meet the woman who invented a whole new subsection of tech set to be worth $1 trillion
▼ + stars: | 2023-03-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Ida Tin wanted to study art at college when she accidentally landed herself a place on a business course – she then became a pioneer of an industry set to be worth more than $1 trillion. "I literally got lost in the hallways and I ended up in some office where they were waiting for a candidate to do [the business course interview]," Tin said as she explained her first steps into the business world. As Clue gained users, Tin realized there wasn't much of a community around women's health services and products, despite more and more coming onto the market. The term now covers all types of technology and innovation designed to address health issues that solely, or disproportionately, impact women's health, from menstrual cycle tracking apps and sexual wellness products to cardiovascular medical devices and mental health therapies. "And I have to say I have been surprised but I really see how it's resonating globally," she added.

☆ Ukrainian refugees could help Germany's labor market, but not for long: They're 'ready to go home'
▼ + stars: | 2023-02-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Germany's labor market is under pressure, but the recent influx of Ukrainian refugees is "no silver bullet" for the workforce issues. Germany's labor market is under severe pressure, and the recent influx of Ukrainian refugees is unlikely to solve the country's workforce issues in the long term. "If I compare to the previous asylum seekers, Ukrainians are clearly better educated and have integrated much faster into the German labor market," he added, noting that Germany is an attractive country for people looking to join the labor market. But Ukrainian refugees can't be expected to fill the gaps in the German labor market. Language barriersAround 60% of Ukrainian refugees in Germany perceived language barriers as the biggest challenge in their new environment, according to an OECD survey.

☆ Ukraine can still lose the war — but Russia can’t win, Ian Bremmer says
▼ + stars: | 2023-02-20 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

"Ukraine can still lose the war — but Russia can't win," Ian Bremmer told CNBC's Hadley Gamble at the Munich Leigh Vogel / Contributor / Getty ImagesUkraine can lose the war, but Russia cannot win at a geopolitical level, Ian Bremmer, political scientist and president of Eurasia Group, told CNBC. "Ukraine can lose this war," Bremmer told CNBC's Hadley Gamble at the Munich Security Conference on Friday, but Russia cannot win in NATO because of its "pariah" status, Bremmer said. That's a long-term question that goes beyond Ukraine," Bremmer added. Everyone here needs to understand that Ukraine can lose this war," Bremmer said. "[The war] is an existential crisis for Ukraine, it's an existential crisis for Zelenskyy and his family personally – they're fighting literally for their lives," Bremmer said.

☆ European markets expected to open lower after week of key data
▼ + stars: | 2023-02-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets are expected to open lower Friday as investors continue to assess the impact of inflation and production data from the U.S. and U.K. and company earnings. The pan-European Stoxx 600 index closed slightly higher Thursday after a choppy session that saw France's CAC 40 index hit an all-time intraday high. In the U.S., wholesale prices rose 0.7% in January, which was more than expected and encouraged fears over the country's stubbornly high inflation metrics. U.S. stock futures slipped Thursday night on the news. Asia Pacific markets traded lower on Friday as investors digested more economic data out of the U.S. and more hawkish commentary from the Federal Reserve.

☆ Standard Chartered 'absolutely not' for sale, bank CEO says
▼ + stars: | 2023-02-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

LONDON — The CEO of Standard Chartered said the bank was "absolutely not" for sale following speculation of a takeover bid. Bill Winters told CNBC's Geoff Cutmore Thursday that a potential sale is not what the company is focused on. "But of course, we have a fiduciary responsibility to our shareholders and if somebody wants to come and thinks they can add a lot of value, as I've said, be my guest." The comments come after First Abu Dhabi Bank said Friday that it was not evaluating an offer for Standard Chartered. "First Abu Dhabi Bank PJSC notes the recent press speculation in relation to Standard Chartered and re-iterates that it is not evaluating a possible offer for Standard Chartered," the bank said in a statement.

☆ European markets open higher after another record high for FTSE 100
▼ + stars: | 2023-02-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

There could be some strength in this stock rally, according to Victoria Greene, chief investment officer at G Squared Private Wealth. "It's ignoring the bond market, it's ignoring the Fed, it's ignoring fundamentals and it's ignoring some of the economic data. All it's focused on is rising on technicals," Greene said Wednesday on CNBC's "Closing Bell: Overtime." "And this does happen — early innings of a bull market, you always see the market run without any fundamental reason why," she continued. According to Greene, that suggests the rally "does have some legs."

☆ European markets open lower after key inflation data
▼ + stars: | 2023-02-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

The blue-chip index was down 0.3% around market open, with most sectors and major bourses opening in the negative. U.K. CPI data showed inflation fell for the third month in a row January to hit 10.1%, according to the Office for National Statistics, below Reuters economists' expectations of 10.3%. U.S. inflation inflation grew slightly more than expected Tuesday, and by late afternoon the European index had rebounded to trade 0.6% higher before paring gains to just 0.1%. Internationally, markets responded to the hotter-than-expected U.S. CPI data. Asia-Pacific markets traded lower Wednesday on the news, while U.S. stock futures slipped on Tuesday night.

☆ UK inflation rate dips for third straight month to hit 10.1%
▼ + stars: | 2023-02-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

LONDON — The U.K. inflation rate fell for the third month in a row in January to hit 10.1%, below economists' expectations, but high food and energy prices continued to put the pressure on British households. Economists polled by Reuters had forecast inflation would drop to 10.3% after the rate fell to 10.5% for December. Core CPI, which doesn't include food, energy, alcohol or tobacco, was 5.3% compared to 5.8% in December, according to the ONS. While the inflation rate has dropped, it's important to remember prices aren't necessarily going to start falling, according to Richard Ollive, senior advisor at financial services firm Wesleyan. Worker pay continues to lag behind inflation, with growth in average total pay at 5.9% among U.K. employees between October and December year-on-year, the ONS reported Tuesday.

☆ 'Think of the unthinkable': IMF chief warns world is a very different place after crises like Covid
▼ + stars: | 2023-02-14 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

'Think of the unthinkable': IMF chief warns world is a very different place after crises like Covid. The Managing Director of the IMF warned that we need to "think of the unthinkable," as we live in "a more shock-prone world" impacted by the Covid-19 pandemic, Russia's invasion of Ukraine and the recent earthquake across Syria and Turkey. The IMF chief signaled the need for resilience in our planet, in societies that must allow equal opportunities, and in people, who must benefit from education, health and good social protection. "We are not where we should be in being good stewards of our planet for our children," Georgieva added. "In Ukraine, people strongly believe they are fighting not just for themselves, they are fighting for the right of every nation to exist and run its own affairs," she added.

☆ European markets expected to open mixed; investors await U.S. CPI data
▼ + stars: | 2023-02-14 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets are expected to open muted Tuesday morning as investors assess the economic outlook. U.S. consumer price index data set for release Tuesday will determine whether the Federal Reserve opts for further monetary policy tightening, while Europe and Japan are also set to release key data later in the week. The pan-European Stoxx 600 index closed 0.9% higher Monday, with most sectors and major bourses finishing in positive territory. Household goods led gains with a 2% increase, while oil and gas stocks slipped 0.2%. U.S. stock futures ticked lower Tuesday morning as investors looked ahead to key inflation data.

☆ European markets open muted as investors assess monetary policy outlook
▼ + stars: | 2023-02-13 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets opened muted Monday as investors assess the economic outlook and the potential for further monetary policy tightening from the U.S. Federal Reserve. Consumer price index data released Tuesday will determine the Federal Reserve's path. The pan-European Stoxx 600 index opened 0.2% higher, with most sectors and major bourses in marginally positive territory. Travel and leisure and construction and material stocks led gains with 0.4% increases, while retail stocks were down 0.4%.

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