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☆ The Markets Are Counting on the Fed to Solve a Tricky Puzzle
▼ + stars: | 2023-07-21 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +2 min

The remarkable thing is that, at the same time, the labor market remains strong. For a while, the Fed said high inflation was “transitory” and would ebb on its own. But by the end of 2021, the Fed had deemed inflation unacceptably high, and it began signaling that it would not continue its expansive monetary policy indefinitely. In January 2022, the Fed made its intention to tighten absolutely clear, and the markets plummeted. How much, exactly, will be a subject for academic papers, dissertations and books in the years ahead.

Persons: —, it’s Organizations: Fed Locations: Ukraine

☆ Viral ad makes gender statement as Matildas call for equal prizes in Women's World Cup
▼ + stars: | 2023-07-17 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +7 min

Brisbane, Australia CNN —Days out from the start of the Women’s World Cup, teams are turning up the pressure on the sport’s governing body and spectators to give women players equal pay and respect. The women players say it’s not enough. “Many football ‘fans,’ without ever having watched women’s football, have strong opinions about the level of the players,” according to according to trade journal Marketing Communication News. At the end, it’s revealed that viewers have been watching members of the women’s team. “What we need to reach equality and justice on the pitch and beyond is a gender revolution.”Sakina Karchaoui of France in action during a friendly match between Australia and Canada ahead of the FIFA Women's World Cup in Melbourne, Australia on 14 July, 2023.

Persons: it’s, Eugenie Le Sommer of France, Baptiste Fernandez, Marcel, “, Stacey Pope, Mark Avellino, …, —, Gianni Infantino, ”, Infantino Organizations: Australia CNN, Orange, French national, Zealand, FIFA, Tallaght, Communication, Football, French Women’s, Durham University, Australian, Twitter, Australia, Socceroos, ”, FIFA Women’s Locations: Brisbane, Australia, New Zealand, Norway, Eden, Qatar, Ireland, France, Tallaght, Orange, French, United Kingdom, Canada, Melbourne

☆ Stock Market Returns Are Deceptively High
▼ + stars: | 2023-07-14 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +1 min

For another, bond returns, which are positive for the calendar year, have flagged recently. Only money market funds — often dismissed as a form of “cash” and not included as one of the major asset groups — are in an unequivocally positive position. As the Fed raises its benchmark federal funds rate, money market fund rates follow. The good times for money market funds aren’t over quite yet. The stock market over long periods tends to outperform bonds and cash investment, but at the cost of much greater volatility.

Persons: Bonds, —, ” Peter G, Crane, Daniel Wiener Organizations: Federal Reserve, Crane Locations: Newton ,

☆ Look at the Stocks Leading the Market Now
▼ + stars: | 2023-07-07 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +1 min

Many top performers in the stock market for the first half of this year were exactly what you would expect, if you’ve been following the news. Tesla, the electric vehicle champion, wasn’t far behind. But what were cruise ships doing near the very pinnacle of the stock market listings? At midyear, three of the big cruise companies — Carnival, Royal Caribbean Group and Norwegian Cruise Line Holdings — were among the top 10 stocks in the S&P 500. Consider that only three years ago, in the first months of the coronavirus pandemic, all cruise lines suspended operations and that in the ensuing months, the shares of publicly traded cruise companies were devastated.

Persons: you’ve, Tesla, wasn’t Organizations: Nvidia, Meta, Facebook, Royal Caribbean Group, Cruise Line Holdings

☆ How Sweet It Is, if You’re the Boss
▼ + stars: | 2023-06-30 | by ( Jeff Sommer | ) www.nytimes.com time to read: 1 min

It’s good to be the boss. But you get paid more than everybody else — vastly more, as the latest numbers remind us. What’s more, companies must compare the rich earnings of their leaders with the pay of ordinary workers. For the leaders of corporate America, the sums almost always range from large to hard to believe. Consider that the highest paid chief executive in this year’s report, compiled by the executive compensation research firm Equilar, was Sundar Pichai of Google’s parent, Alphabet.

Persons: Dodd, Frank, What’s, I’ve, Sundar Pichai Locations: America

☆ Yes, There Are Alternatives to Stocks
▼ + stars: | 2023-06-23 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

Now, though, it’s a different world: Interest rates, or yields, have risen significantly. It is debatable whether it’s wise to lock in higher interest rates now, or stick with shorter-term holdings until it’s clear that the Federal Reserve is done raising interest rates. But the time to appreciate the benefits of fixed-income holdings like money market funds and Treasury bills is already here. For the moment, it’s possible to get safe returns that are beating inflation. But Stocks Are BoomingStill, the returns on short-term fixed-income investments are likely to be in the mid-single digits, at best.

Persons: it’s, That’s, Tesla Organizations: Federal, Nvidia, Microsoft, Meta

☆ Snap loses 'respected' monetization leader to Uber amid broader executive shakeup
▼ + stars: | 2023-06-20 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

He is now vice president of engineering at Uber. Panda reported to Nima Khajehnouri, Snap's vice president of engineering, who has been at the company since 2015. Snap, however, recently hired Eric Young as its new senior vice president of engineering, with Khajehnouri now reporting to him. He joined Greylock earlier this year after being at Snap also since 2015 as its senior vice president of product and growth. Along with Patrick Harris in a newly created role as Snap's senior vice president of partnerships, and David Sommer as head of verticals.

Persons: Panda, Snapchat, Nima Khajehnouri, Khajehnouri, Jerry Hunter, Eric Young, Young, Hunter, Jacob Andreou, Peter Sellis, Darshan Kantak, Rob Wilk, Patrick Harris, David Sommer, Kali Hays Organizations: Uber, Google, Reuters, . Workers, Greylock, Microsoft, Meta, Facebook, Twitter Locations: khays

☆ The Best Place to Drink Is the Emptiest Bar in the City
▼ + stars: | 2023-06-20 | by ( John Cotter | ) www.nytimes.com time to read: +4 min

A decade on, I talk about this when I see old friends at hotel bars. It’s the kind of conversation we wouldn’t be able to have at a dark place full of thrum, or a pop-song bar with ironic cocktails. In a leather half-booth, in the emptiest bar in the city, there is no impetus to be decorous. I should clarify that I don’t mean fancy hotel bars — not the Ace, or even the W; not a storied corner like Bemelmans at the Carlyle. Return, for as long as you like, to the quiet place inside yourself that is always arriving, always traveling.

Persons: Carlyle, Hilton, —, Kate Wagner, Jen, Sommer, Let’s Organizations: Marriott Locations: cacophony, The Atlantic, polyamory

☆ A Bull or a Bear Market? It Doesn’t Matter.
▼ + stars: | 2023-06-16 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

The headlines and market analyses of the last few weeks, saying that stocks are in a bull market, may be a comfort even if they are potentially misleading. News that the Federal Reserve expects further interest rate increases this year has weighed on the market. But is this really a bull market? First, if a bull market means to you that stocks are trending unequivocally upward, then, no, the bull market label is being misapplied right now. Second, even as a retrospective measurement of how the market has performed, this bull market designation is premature, using a stricter definition, one that seems much more sensible to me, as I’ll explain.

Persons: It’s Organizations: Federal Reserve

☆ Former Fed Chair Ben Bernanke on Inflation, Bank Runs and More
▼ + stars: | 2023-06-09 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

I called Ben S. Bernanke, the former chairman of the Federal Reserve, late in the debt-ceiling standoff. In 2014, he stepped down as Fed chair, after leading it through the global financial crisis. Now, at 69, he is a scholar at the Brookings Institution in Washington, devoting himself mainly to research and writing. His research, showing “that bank crises can potentially have catastrophic consequences” and illustrating “the importance of well-functioning bank regulation,” earned him a Nobel Prize in economics in 2022. That academic work, and the changes he made at the Fed, have altered the way we understand financial news, even if he is making fewer headlines himself.

Persons: Ben S, Bernanke, hadn’t, ” Mr, ” Organizations: Federal Reserve, Brookings Institution Locations: Washington

☆ Former France captain Henry recalled for Women's World Cup
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Former France captain Amandine Henry was included in coach Herve Renard's provisional 26-player squad for the Women's World Cup, returning to the international set-up after a two-year absence. Henry, who captained France at the 2019 World Cup, and all-time leading goal scorer Eugenie Le Sommer were left out of the squad by Diacre for last year's European Championship in England. France sacked Diacre in March after a number of players, including captain Wendie Renard, said they would no longer represent the national side as long as Diacre was in charge. Defender Renard and her Lyon team mate Le Sommer have been included in the World Cup squad, which will be trimmed to 23 players for the July 20 to Aug. 20 tournament in Australia and New Zealand. France begin their World Cup campaign against Jamaica on July 23.

Persons: Amandine Henry, Herve Renard's, Corrine Diacre, Henry, Eugenie Le Sommer, France, Wendie Renard, Herve Renard, We've, Renard, Le Sommer, Kadidiatou Diani, Marie, Antoinette Katoto, Delphine Cascarino, Hritika Sharma, Peter Rutherford Organizations: France, Diacre, Lyon, World, St Germain, Jamaica, Thomson Locations: England, Australia, New Zealand, France, Hyderabad

☆ The Treasury Paradox
▼ + stars: | 2023-06-02 | by ( Jeff Sommer | ) www.nytimes.com time to read: 1 min

Treasury bonds have been at the heart of the debt ceiling drama. But as the deadline for an agreement to avert a U.S. debt default loomed, Treasury bills due in early June were priced as the near equivalent of junk bonds. In the credit default swaps market, Treasury bonds were suddenly deemed riskier than the sovereign debt of countries like Mexico, Bulgaria and Greece. But in the nick of time, President Biden and Speaker Kevin McCarthy reached a deal to suspend the debt ceiling. The Senate gave final approval on Thursday to legislation ensuring that the Treasury won’t run out of cash.

Persons: Biden, Kevin McCarthy Organizations: Treasury Locations: Mexico, Bulgaria, Greece, United States

☆ It’s Not Just the Debt Ceiling
▼ + stars: | 2023-05-26 | by ( Jeff Sommer | ) www.nytimes.com time to read: +3 min

These include:The potential for economic drag from the more restrictive fiscal policy that House Republicans are demanding from President Biden as a prerequisite for an increase in the debt ceiling. Oddly, the debt ceiling crisis provided temporary relief for many of the nation’s banks, economists for Moody’s Investor Service found in a recent study. “The debt ceiling impasse has been a tailwind for the banks,” Jill Cetina, associate managing director for Moody’s, said in an interview. But once the debt ceiling is lifted and the Treasury begins to raise money by selling large quantities of bonds, those purchases by investors in the open market will drain money from banks. “This may not be what you would expect, but the resolution of the debt ceiling crisis will be a headwind for banks,” she said.

☆ What the Markets Are Saying About the Risk of a Debt Default
▼ + stars: | 2023-05-19 | by ( Jeff Sommer | ) www.nytimes.com time to read: +2 min

First, the markets believe there is a real risk of a default in early June. Second, the possibility of a protracted failure of the United States to pay its bills is seen as extremely low. The markets will supply the United States government with all the money it needs, if only Congress grants the authorization to borrow it. Demand for Treasuries is robust and is likely to remain so, as long as the credit of the United States is unimpaired. But a U.S. debt default could change all of that, and another downgrading of U.S. debt, as was the case in 2011 when the United States came close to default, could increase U.S. borrowing costs.

☆ The Debt Ceiling Dispute Raises the Risks for ‘Risk-Free’ U.S. Bonds
▼ + stars: | 2023-05-12 | by ( Jeff Sommer | ) www.nytimes.com time to read: +2 min

The ImpassePresident Biden has begun discussing the debt ceiling with Speaker Kevin McCarthy and other congressional leaders without making much progress. As things stand, the Treasury says it will exhaust its trove of “extraordinary measures” and bump into the debt ceiling sometime in June. But if there is no resolution of the debt ceiling dispute until the last minute, a sharp decline in the stock market would not be surprising. But now, one-month Treasury bills due in June are being seen in the markets as potential trouble spots. In two or three months, the logic goes, the debt ceiling crisis will be behind us.

☆ ‘White House Plumbers’ Co-Star Rich Sommer Found Fame on Local TV
▼ + stars: | 2023-05-09 | by ( Marc Myers | ) www.wsj.com time to read: 1 min

Rich Sommer, 45, is an actor best known for his roles in “The Devil Wears Prada” and the “Mad Men” TV series. He currently co-stars in HBO’s “White House Plumbers” miniseries. I wasn’t a particularly driven student growing up. Instead, I was a bit of a class clown in junior high, but more annoying than funny. I’m not sure it worked.

☆ Recession talk tapers off on latest quarterly conference calls
▼ + stars: | 2023-05-02 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

May 2 (Reuters) - While Wall Street frets that the Federal Reserve's aggressive interest rate hikes will tip the U.S. economy into a recession, discussions on recent quarterly conference calls hint that corporations and analysts have become a bit less concerned. Reports for the first quarter broadly point to shrinking profits for the U.S.' largest companies but less than analysts feared. Reuters GraphicsDiscussion about economic downturns appears to have been relatively limited on recent quarterly analyst conference calls. Terms related to "recession" have been mentioned on 41% of conference calls held in recent weeks by companies in the S&P 500. That compares to 535 mentions on analyst calls for the entirety of the previous quarterly reporting season, equivalent to 1.1 mentions per call.

☆ Worried About a Recession? Patient Investors Can Ride It Out.
▼ + stars: | 2023-04-28 | by ( Jeff Sommer | ) www.nytimes.com time to read: +2 min

We won’t know for sure that we’ve had a recession until well after it’s started, and, quite probably, not until long after it’s ended. But the bureau waited 15 months, until July 2021 to declare that a recession happened. The economic research bureau “dates recessions only after they’ve begun,” Marlena Lee, the global head of investment solutions at Dimensional Fund Advisors, said in an email. I find these averages reassuring:One year after the starting dates, the S&P 500 returned 6.4 percent. Three years after the starting dates, it returned 12.1 percent.

☆ Bayern Munich suffer shock 3-1 loss at Mainz to leave title race open
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

MAINZ, Germany, April 22 (Reuters) - League leaders Bayern Munich slumped to a 3-1 loss at Mainz 05 on Saturday, conceding all three goals in a span of 14 minutes in their latest slip-up which could prove costly in the race for the Bundesliga title with five games remaining. Bayern, chasing an 11th straight league crown, are on 59 points and second-placed Borussia Dortmund, on 57, can take over the lead with a win over Eintracht Frankfurt later on Saturday. "Too much has happened to this team and it struggles to bounce back when things don't go its way. We struggle to win matches. They now also risk missing out on the Bundesliga title after suffering a third defeat under Tuchel in seven matches.

☆ The Fabulous Yields, and Lurking Risks, of Money Market Funds
▼ + stars: | 2023-04-21 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

What’s painful for borrowers is great for people who need a place to park money they have put aside to pay the bills. That’s given money market funds magnetic appeal. Money market funds are likely to keep growing if the Fed holds rates at their current level, or raises them further. I’ve used money market funds on and off for decades with no problems, and consider them to be fairly — though not entirely — safe. When interest rates started to rise, money market rates started levitating immediately, opening up a wide gap with bank deposit rates.

Baldwin, who is also a producer on the film, was charged with two counts of manslaughter in the death of "Rust" cinematographer Halyna Hutchins. Though Baldwin's manslaughter case has been dropped, the actor still faces other legal woes as a result of the accidental shooting. In early February, Hutchins' parents and sister filed a lawsuit against Baldwin, "Rust" producers and other crew members, accusing them of negligence and intentional infliction of emotional distress, among other charges. Halls' hearing was the first to be conducted under the supervision of special prosecutors Kari Morrissey and Jason Lewis. In her place, she appointed Morrissey and Lewis as special prosecutors.

☆ Alec Baldwin: Prosecutors plan to dismiss charges against actor in 'Rust' shooting, Baldwin's attorney tells CNN
▼ + stars: | 2023-04-20 | by ( Chloe Melas | ) edition.cnn.com time to read: +3 min

CNN —Prosecutors in the “Rust” fatal shooting case plan to file a notice to dismiss involuntary manslaughter charges against Alec Baldwin, his attorney, Luke Nikas, tells CNN. CNN has contacted the special prosecutor in the Santa Fe, New Mexico case for comment. Baldwin and “Rust” armorer Hannah Gutierrez Reed were both charged with involuntary manslaughter in January. An attorney for Gutierrez Reed has previously said she will plead not guilty. Prosecutors already removed a firearm enhancement charge against Baldwin and Gutierrez Reed, reducing a potential prison sentence from 5 years to a maximum of 18 months.

☆ UEFA Champions League: Erling Haaland breaks another scoring record as Manchester City humbles Bayern Munich
▼ + stars: | 2023-04-12 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

The Norwegian superstar found the target yet again on Tuesday as Manchester City beat Bayern Munich 3-0 in the first leg of the Champions League quarterfinal at the Etihad Stadium. It’s yet another chapter in the 22-year-old’s astonishing debut season at City, which currently sees him top scorer in both the Premier League and Champions League. When we have the momentum, we are clinical.”Haaland scores his side's third goal during the Champions League quarterfinal first-leg. Tim Goode/APTuesday’s win was a major statement from City which looks serious about winning its first ever Champions League title this season. We need to understand and swallow this kind of defeat.”Elsewhere, Inter Milan beat Benfica 2-0 in Tuesday’s other Champions League quarterfinal first leg – Nicolo Barella and Romelu Lukaku getting the goals.

☆ Man City thrash Bayern 3-0 as Haaland reaches another milestone
▼ + stars: | 2023-04-11 | by ( Lori Ewing | ) www.reuters.com time to read: +1 min

MANCHESTER, England, April 11 (Reuters) - Rodri struck a wonder goal and Erling Haaland set another scoring record as Manchester City beat Bayern Munich 3-0 on Tuesday to continue their quest for a first-ever Champions League title in their quarter-final first leg. Haaland, who scored City's third goal of the night in the 76th minute, has 45 goals in all competitions, a single-season record for a Premier League player. What had been an evenly matched game turned thoroughly in City's favour midway through the second half, and Bernardo Silva scored their second in the 70th minute, heading in a cross from Haaland. The Norwegian got a goal of his own six minutes later, striking from close range. Reporting by Lori Ewing Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

☆ ‘Rust’ assistant director pleads guilty to gun charge in movie set shooting case
▼ + stars: | 2023-03-31 | by ( Natasha Piñon | ) www.cnbc.com time to read: +3 min

David Halls, the "Rust" assistant director who handled the gun that killed cinematographer Halyna Hutchins in 2021, pleaded no contest Friday to a misdemeanor charge of negligent use of a deadly weapon. The New Mexico judge overseeing the "Rust" case sentenced Halls to six months of unsupervised probation, a $500 fine and 24 hours of community service. To date, "Rust" proceedings have been routinely disrupted by complications concerning the appointment of the case's previous special prosecutor. The first special prosecutor for the case, Andrea Reeb, stepped down earlier this month, after Baldwin's defense lawyers filed a motion requesting her removal. "My responsibility to the people of the First Judicial District is greater than any one case, which is why I have chosen to appoint a special prosecutor in the 'Rust' case," Carmack-Altwies said in a statement.

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