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☆ Tesla is not the only company reviewing its Europe investment after Biden's IRA
▼ + stars: | 2023-03-03 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Tesla recently announced a strategy shift away from Europe as it seeks to benefit from unprecedented subsidies in the United States. But it's not the only company reviewing investment decisions vis-à-vis Europe. The landmark legislation, which features green subsidies for businesses, has raised competition issues for European companies — and upset politicians in the region. Northvolt, a Swedish battery maker; Linde, a chemical giant from Germany; Volkswagen, the carmaker; Enel , the Italian energy giant, have all expressed an interest in profiting from U.S. subsidies. It is still early to assess just how much investment could drift away from Europe as a result of Biden's policy.

☆ Gold edges up as dollar weakens, rate-hike worries cap gains
▼ + stars: | 2023-02-24 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose on Friday as the dollar weakened, though investor worries that recent economic data could lead the U.S. Federal Reserve to keep raising interest rates capped gains. Separately, data showed fourth-quarter personal consumption expenditures (PCE) price index rose 3.7%, revised up from a previous estimate of 3.2%. Thursday's reports are the latest in a flurry of data that has fueled concerns that interest rates would stay higher for longer. The Fed's preferred inflation measure, the PCE data for January, is due at 1330 GMT and will be closely watched. "A lower-than-expected read could see some paring back of hawkish bets, which could prompt renewed upside in gold."

☆ Netflix exec reveals sports ambitions and what's next for live sports as golf series 'Full Swing' debuts
▼ + stars: | 2023-02-15 | by ( Elaine Low | ) www.businessinsider.com time to read: +7 min

Formula 1 racing saw a boost in TV viewership and fandom since Netflix began streaming docuseries "Drive to Survive." Amid a boom in sports docs, the streamer has tennis series "Break Point" and golf-centered "Full Swing." Netflix unscripted TV head Brandon Riegg spoke to Insider about the streamer's ambitions in live sports. "I wouldn't be surprised," Netflix VP of unscripted and docuseries Brandon Riegg told Insider ahead of the "Break Point" premiere. Also in the works are series on the 2022 FIFA World Cup in Qatar and the Six Nations rugby tournament.

A far-right faction of House Republicans is pushing against continued US aid to Ukraine. Those concerns ratcheted up amid House Speaker Kevin McCarthy's tumultuous journey to secure the gavel last month. Kyiv, for its part, has kept a close eye on Congress' dynamics since the GOP won a narrow House majority in the November midterms. "This GOP House majority will demand more oversight, transparency, and accountability to ensure assistance to Ukraine is used as intended," McCaul said in a statement. "Most Europeans don't think that suddenly the US is going to cut support to Ukraine," Araud said, adding that nobody anticipates Washington will "dump Ukraine."

☆ McDonald’s Ruling Shifts Oversight Liability Focus to Corporate Officers
▼ + stars: | 2023-02-02 | by ( Dylan Tokar | ) www.wsj.com time to read: +9 min

Photo: McDonald’sThe ruling by Vice Chancellor Laster focuses on the claims against Mr. Fairhurst specifically. At the time of his termination, Mr. Fairhurst had been the subject of multiple reports of sexual harassment during his tenure, according to the Delaware ruling. Emerging oversight liabilityThe legal doctrine driving the McDonald’s shareholder lawsuit extends back to a 1996 Delaware Court of Chancery decision. The ultimate impact of Judge Laster’s ruling vis-à-vis McDonald’s shareholders is as of yet unclear. If the judge approves the McDonald’s directors’ motion to dismiss, the claims against Mr. Fairhurst would be moot.

☆ Denmark's central bank raises key rate to 2.1%
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Feb 2 (Reuters) - Denmark's central bank raised its key interest rate by 35 basis points to 2.1% on Thursday, following a rate hike earlier in the day by the European Central Bank. By implementing a smaller rate hike than the ECB, the central bank aims to limit a further strengthening of the crown. "The crown is strong at the moment, and therefore a larger interest rate spread has been necessary," Totalkredit's chief analyst Sune Malthe-Thagaard said in a note. Denmark's current account rate, which is the benchmark rate, and the certificate of deposit rate were each raised by 35 basis points from 1.75% to 2.1%. The lending rate was also raised by 35 basis points to 2.25% from 1.9%.

☆ Factbox: Later retirement, income guarantees: What's in France's pension reform?
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

PARIS, Jan 31 (Reuters) - President Emmanuel Macron's plan to reform France's costly pension system, including raising the retirement age, has infuriated trade unions who are calling for a second day of nationwide strikes on Tuesday. * Retirement age pushed back by two years to 64. * Guaranteed minimum pension income of not less than 85% of the net minimum wage, or roughly 1,200 euros per month at current levels, for new retirees. After year one of retirement, the pensions of those receiving a minimum income will be indexed to inflation. Existing forecasts without any reform show a pension budget deficit of 13.5 billion euros in 2030.

☆ H&M’s fast-fashion parade is skating on thin ice
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

MILAN, Jan 27 (Reuters Breakingviews) - H&M’s (HMb.ST) outfit is once again failing to impress. That corresponds to a meagre operating margin of 1.3%, a far cry from the around 15% margin larger rival Inditex (ITX.MC) is expected to report in its fourth quarter. H&M’s operating margins were already lingering in the mid-single-digit area before inflation became a problem. Sales growth of just 5% in December and January suggests the Swedish retailer is struggling to recover to its pre-crisis levels. If a recession curbs even more consumer spending, H&M’s profit margin may disappear.

☆ EU wants to send more people back to Africa, Middle East, Asia
▼ + stars: | 2023-01-26 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

The EU's executive European Commission proposed similar steps vis-a-vis Iraq, Senegal and Bangladesh, though two EU officials said cooperation with Dhaka on returning people has since improved. Still, the EU's overall rate of effective returns stood at 21% in 2021, according to Eurostat data, the latest available. Some 160,000 people made it across the Mediterranean in 2022, according to U.N. data, the main route to Europe for people fleeing wars and poverty in the Middle East, Africa and Southeast Asia. There has therefore not been enough majority among EU countries so far to punish another country apart from Gambia, where people can no longer get multiple entry visas to the bloc and face a longer wait. While EU countries including Austria and Hungary loudly protest against the mainly-Muslim, irregular immigration from the Middle East and North Africa, Germany is among those seeking to open up their job market to much-needed workers from outside the bloc.

☆ Credit Suisse's stock chief says investors are piling into all the wrong sectors as they anticipate a recession that won't come. He shares 3 areas of the market will deliver the best returns instead.
▼ + stars: | 2023-01-25 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

As such, the Credit Suisse stock chief thinks investors are looking to the wrong sectors for returns. The consumer discretionary, industrials, and energy sectors are the best places to be, he said. 3 places to invest for a non-recessionary scenarioInstead of defensive sectors, three areas of the market Golub is overweight on include the consumer discretionary sector, the industrials sector, and the energy sector. When it comes to industrials, Golub said there is a "re-stocking" happening, and that supply chains are easing. The Energy Select Sector SPDR Fund (XLE) is one way to gain exposure to the energy sector.

☆ Indian govt to borrow a record 16 trillion rupees in fiscal 2023/24 - Reuters poll
▼ + stars: | 2023-01-23 | by ( Vivek Mishra | ) www.reuters.com time to read: +4 min

Gross borrowing next fiscal year is expected to hit 16.0 trillion rupees, up from an estimated 14.2 trillion rupees in 2022/23, according to the median forecast of 43 economists. Predictions were in a narrow range of 14.8 trillion to 17.2 trillion rupees. Even if it is at the lower end of the range, 2023/2024 gross borrowing would easily be the highest on record. Nim estimated repayments for 2023/24 at about 4.4 trillion rupees. India's government will cut food and fertiliser subsidies to 3.7 trillion rupees, more than 25% below the level of around 5 trillion rupees budgeted for 2022/23, the poll found.

☆ Blackstone is predicting steady growth for its real-estate business, which could be bad news for its tenants
▼ + stars: | 2023-01-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Now imagine if your landlord wasn't just some mom-and-pop family that owned your building, but the world's largest private-equity firm. And while it's received a fair share of scrutiny over it, the performance of one of its real-estate funds has reignited criticism. But the Blackstone executives' comments indicated the firm could also be planning to raise rent and evict tenants, which includes those in affordable housing and student housing. Click here to read more about how Blackstone's real-estate strategy is setting the stage for an ugly battle with tenants. Top executives at Davos share their thoughts on how bad things might get in 2023.

☆ China’s demographic decline can be boon, not doom
▼ + stars: | 2023-01-18 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

Yet China’s demographic doom is not certain. It is hard to boost birth rates, but France and Scandinavia show it can be done. If last year’s population plunge inspires Beijing to smarten up policy, demographic stress need not augur economic decline. The birth rate was 6.77 per 1,000 people, down from 7.52 in 2021 and marking the lowest such reading on record. United Nations analysts project China's population will shrink by 109 million by 2050, more than triple the rate of their previous forecast in 2019.

☆ Netflix reality TV head on how doc series 'Break Point' can become a 'Drive to Survive' for pro tennis — and whether the streamer's sports doc success will lead it into live sports
▼ + stars: | 2023-01-18 | by ( Elaine Low | ) www.businessinsider.com time to read: +6 min

Formula 1 racing saw a boost in TV viewership and fandom since Netflix began streaming docuseries "Drive to Survive." Amid a boom in sports docs, the streamer is looking for another hit in tennis series "Break Point." Netflix unscripted TV head Brandon Riegg spoke to Insider about the streamer's ambitions in live sports. Netflix execs and tennis fans are hoping that "Break Point," the streamer's new docuseries centered on the 2022 Grand Slam season, can be the racket sport's "Drive to Survive." "I wouldn't be surprised," Netflix VP of unscripted and docuseries Brandon Riegg told Insider the day before "Break Point" premiered.

☆ IMF chief: Growth will bottom out in 2023 and bounce back next year
▼ + stars: | 2023-01-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Managing Director of International Monetary Fund IMF Kristalina Georgieva attends a session during the World Economic Forum WEF 2022 Annual Meeting in Davos, Switzerland, May 25, 2022. The International Monetary Fund's Managing Director Kristalina Georgieva told CNBC Tuesday that the days of her institution giving regular global growth downgrades are nearly over. "I don't see a downgrade now, but growth in 2023 will slow down," Georgieva said at the World Economic Forum in Davos, Switzerland. The International Monetary Fund has downgraded its growth forecast three times since October 2021. "The China growth rates are not going to return to the days when China delivered about 40% of global growth, this is not going to happen," Georgieva said, with the country having experienced below-average growth for the first time in 40 years in 2022.

☆ BlackRock's mighty tech unit is a silver lining in an awful market. But competition and a recession could test its momentum.
▼ + stars: | 2023-01-09 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +7 min

In a tumultuous year for BlackRock, its powerful Aladdin business won record new mandates. "2022 was a good litmus test for the BlackRock model vis-a-vis Aladdin," said Cathy Seifert, a senior equity analyst at CFRA Research. Now Sudhir Nair, the longtime BlackRock executive who runs the Aladdin business globally, and his sprawling business face a test: Keeping that momentum. "To get new business, Aladdin may have to sharpen their pencils, despite the fact that I do think they still retain a best-in-class position," Seifert said. Influential rival money managers like Two Sigma, Pimco, State Street, and Amundi have been putting resources behind their own proprietary tech platforms.

☆ Federal Trade Commission proposes banning noncompetes for workers
▼ + stars: | 2023-01-05 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +2 min

New York CNN —The Federal Trade Commission on Thursday said it is proposing a rule to ban employers from imposing noncompete agreements on workers and to rescind all existing noncompete agreements. “Research shows that employers’ use of noncompetes to restrict workers’ mobility significantly suppresses workers’ wages — even for those not subject to noncompetes, or subject to noncompetes that are unenforceable under state law,” said Elizabeth Wilkins, Director of the Office of Policy Planning. “The proposed rule would ensure that employers can’t exploit their outsized bargaining power to limit workers’ opportunities and stifle competition.”The proposed rule was cheered by the liberal-leaning Economic Policy Institute. The only source of power nonunionized workers have vis-à-vis their employers is their ability to quit and take a job elsewhere. The proposed rule will be open for public comment for 60 days after which the FTC will review the comments and possibly amend the rule before issuing a final version.

☆ Aerospace and defense stocks took flight in 2022. What analysts expect for the sector in 2023
▼ + stars: | 2023-01-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Aerospace and defense stocks took off in 2022, outperforming the S & P 500 as a selloff trend pummeled growth and technology names. Through 2022, the aerospace and defense sub-industry within the S & P 500 rose 15.5%, while the broader index tumbled 19.4%. Here are some of the best-performing aerospace and defense stocks of 2022 and what the outlook looks like in the new year. The top-performing defense stock in the fourth quarter was Boeing , with shares up more than 57%. Raytheon Technologies rose more than 17% in 2022, and analysts are optimistic about the stock in 2023.

☆ U.S. State Dept says toll of COVID in China a concern for the world
▼ + stars: | 2022-12-19 | by ( Humeyra Pamuk | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 19 (Reuters) - The United States hopes that China can address the current COVID-19 outbreak as the toll of the virus is a global concern due to the size of the Chinese economy, State Department spokesperson Ned Price said on Monday. "The toll of the virus is of concern to the rest of the world given the size of China's GDP, given the size of China's economy," Price told a daily briefing at the State Department. "It's not only good for China to be in a stronger position vis-a-vis COVID but it's good for the rest of the world as well," Price said. He added that anytime the virus is spreading it has the potential to mutate and pose a threat everywhere. Officially China has suffered just 5,237 COVID-related deaths during the pandemic, including the latest two fatalities, a tiny fraction of its 1.4 billion population.

☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Amazon, Exxon Mobil, Nike, Best Buy & more
▼ + stars: | 2022-12-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley names Exxon Mobil a top 2023 pick Morgan Stanley said Exxon Mobil is one of the best-positioned stocks heading into 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said concerns about App Store competition are overdone. Bank of America downgrades Best Buy to underperform from neutral Bank of America said the environment is too challenging right now for Best Buy. Bank of America reiterates Nike as neutral Bank of America said it's cautious going into Nike earnings next week. Bank of America reiterates Alphabet as buy Bank of America said it's sticking with its buy rating on Alphabet but that investors need to hear more about the Google parent's cost-cutting initiatives.

☆ Pilots at rivals call Delta's pay offer a new 'benchmark'
▼ + stars: | 2022-12-05 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

Delta's offer also includes a lump-sum one-time payment, reduced health insurance premiums, and improvements in holiday pay, vacation, company contributions to 401(k) and work rules. Its union estimates the proposed deal represents more than $7.2 billion of cumulative value increases over the next four years. Similarly, United pilots turned down an offer that included more than 14.5% cumulative wage increases and enhanced overtime and training pay. Analysts at Jefferies estimate Delta's offer could hike non-fuel operating costs by 450 basis points in 2023 vis-à-vis 2019. Casey Murray, a pilot and the president of the Southwest Airlines Pilots Association, said Delta's proposed deal will help it in the competition for a shrinking pool of pilots.

☆ Japan will use G7, UN roles to pressure Russia on Ukraine - foreign minister
▼ + stars: | 2022-12-01 | by ( Tim Kelly | ) www.reuters.com time to read: +3 min

TOKYO, Dec 2 (Reuters) - Japan will use its turn next year in leadership roles at the Group of Seven and the United Nations to pressure Russia to halt its war in Ukraine, Japanese Minister of Foreign Affairs Yoshimasa Hayashi said at the Reuters NEXT conference. In October, the G7 committed to providing financial, humanitarian, military, diplomatic and legal support to Ukraine for as long as necessary. Japan wants to coordinate with other "G7 nations and like-minded countries to keep on good teamwork vis-a-vis such issues as Russia's aggression on Ukraine and other measures." "We would like to further strengthen the movement for reform for the United Nations," Hayashi told Reuters. "Since the start of the United Nations, the membership has not changed.

☆ Crypto startup MoonPay hires Time president to lead its enterprise business
▼ + stars: | 2022-11-28 | by ( Riley De León | ) www.cnbc.com time to read: +7 min

In this article LTH Follow your favorite stocks CREATE FREE ACCOUNTKeith Grossman, Time president TIMEPieces Artist Jeremy CowartTime president Keith Grossman is leaving the legacy publisher to take on a new role as the president of enterprise at crypto startup MoonPay, effective December 31. Before his three-plus years at Time, Grossman had held leadership posts at major publishers including Bloomberg and Condé Nast-owned Wired. "I think it's important to separate a bad actor from an industry," Grossman said of the FTX fallout. Crypto's confidence crisisIn the 12 months since bitcoin topped out at over $68,000, the crypto industry, once valued at roughly $3 trillion, has fallen to around $900 billion. Enterprise adoption has been fueling this belief, with companies including Nike , McDonald's , Adidas and Starbucks launching their own NFT collections.

☆ The scramble to rearm Ukraine is transforming NATO in a way that would've been hard without Putin's help
▼ + stars: | 2022-11-22 | by ( Rachel Nostrant | ) www.businessinsider.com time to read: +8 min

NATO countries have scrambled to rearm and resupply Ukraine as it fights off Russia's invasion. Troops from six NATO countries during a joint terminal attack controller training in Latvia on April 6. Germany has agreed to send some older hardware to countries that send their Soviet-made tanks and armored vehicles to Ukraine. Interoperability with weapons and alignment on tactics will also make it "veritably impossible for these countries to leave NATO," Banerjee added. "The weapons are from NATO, they're going to be from NATO, they will be back-built, and these components will be from NATO countries."

☆ Kamala Harris’ visit to the Philippines sends China a message of US intent
▼ + stars: | 2022-11-21 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +7 min

According to the Asia Maritime Transparency Initiative, the Philippines occupies nine features in the Spratly chain while China occupies seven. In 2016, a tribunal in The Hague ruled in favor of the Philippines in a maritime dispute, concluding China has no legal basis to claim historic rights to the bulk of the South China Sea. “Philippine President Marcos appears open to the idea of pursuing pragmatic cooperation in the South China Sea, while not surrendering its long-standing position when it comes to the territorial issues in the South China Sea,” Banlaoi said. During her trip to the Philippines, Harris is expected to make a number of other announcements including tighter US cooperation with Manila on clean energy, cybersecurity, communication and agriculture. The deals show US intent in the Pacific region, but one South China Sea expert said Harris’ trip to the military base risks aggravating Beijing to the potential detriment of the Philippines.

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