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REUTERS/Yves Herman/File Photo Acquire Licensing RightsDUBAI, Dec 5 (Reuters) - Global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather, scientists said. The Global Carbon Budget report, published on Tuesday during the COP28 climate summit, said that overall CO2 emissions, which reached a record high last year, have plateaued in 2023 due to a slight drop from uses of land like deforestation. Countries are expected to emit a total 36.8 billion metric tons of CO2 from fossil fuels in 2023, a 1.1% increase from last year, the report by scientists from more than 90 institutions including the University of Exeter concluded. When land use emissions are included, global CO2 emissions are set to total 40.9 billion tons this year. China produces 31% of global fossil fuel CO2 emissions.

Persons: Yves Herman, India's, Pierre Friedlingstein, Friedlingstein, Kate Abnett, Alexander Smith Organizations: REUTERS, Rights, University of Exeter, 1.5C, IPCC, Research, Energy, Clean, European, Thomson Locations: Dunkirk, France, India, China, Paris, COP28, Helsinki, U.S, European Union, Europe

☆ Bitcoin and gold are smashing through key levels. Here's what's driving the moves
▼ + stars: | 2023-12-04 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Both gold and bitcoin kicked off the week by hitting new milestones — spot gold hit a record high above $2,100 per ounce, and bitcoin topped $42,000 to hit its highest level since April 2022. The digital currency appears to have broken through key technical levels and could continue to rally through the end of the year, according to Joel Kruger, market strategist at LMAX Group. "A Bitcoin ETF allows easy access to Bitcoin via broker accounts, RIAs and wealth/private banking channels. Think of Bitcoin ETF as the largest pipe ever built between traditional financial markets and crypto financial markets," the note said. XAU= 5D mountain Gold retreated from the record high reached on Sunday evening in New York.

Persons: bitcoin, Joel Kruger, Kruger, Bernstein, Gautam Chhugani, Chhugani, Bitcoin, Maximilian Layton, Layton, Gold, Craig Erlam Organizations: LMAX, CNBC, Securities, Exchange Commission, SEC, BlackRock, ETF Locations: Bitcoin, U.S, New York

☆ Global CO2 Emissions From Fossil Fuels to Hit Record High in 2023 -Report
▼ + stars: | 2023-12-04 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +3 min

By Kate AbnettDUBAI (Reuters) - Global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather, scientists said. The Global Carbon Budget report, published on Tuesday during the COP28 climate summit, said that overall CO2 emissions, which reached a record high last year, have plateaued in 2023 due to a slight drop from uses of land like deforestation. Countries are expected to emit a total 36.8 billion metric tons of CO2 from fossil fuels in 2023, a 1.1% increase from last year, the report by scientists from more than 90 institutions including the University of Exeter concluded. When land use emissions are included, global CO2 emissions are set to total 40.9 billion tons this year. China produces 31% of global fossil fuel CO2 emissions.

Persons: Kate Abnett DUBAI, India's, Pierre Friedlingstein, Friedlingstein, Kate Abnett, Alexander Smith Organizations: Reuters, University of Exeter, 1.5C, IPCC, Research, Energy, Clean, European Locations: India, China, Paris, COP28, Helsinki, U.S, European Union, Europe

☆ Warren Buffett pays for Indian payments punt
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsMUMBAI, Nov 27 (Reuters Breakingviews) - Berkshire Hathaway’s (BRKa.N) foray into the digital payments industry in India did not go well. Warren Buffett’s investment firm on Friday sold its remaining shares in $7 billion Paytm, some five years after making its initial investment, locking in a more than 20% loss, per Breakingviews calculations. But Berkshire only invested $260 million, barely a blip next to its $700 billion-odd of assets at the time. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Warren Buffett, Rick Wilking, Warren, –, Vijay Shekhar Sharma’s, it’s, Antony Currie, Katrina Hamlin Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Rights, Reuters, Berkshire, X, Thomson Locations: Omaha , Nebraska, Rights MUMBAI, Berkshire, India, Una, China, Rome

More board members, who could be plucked from OpenAI’s biggest investor, Microsoft, and the A.I. Mr. Altman was not named to the board on Tuesday night, and it was not clear if he ever will be. But some already argue that it will not be as attuned to OpenAI’s original mission to create A.I. The tech industry — perhaps even the world — will be watching to see if OpenAI is any closer to balancing those dueling aspirations than it was a week ago. “This needs to be a trustworthy organization that’s aligned with its board, and at the end of it all, OpenAI is a more valuable organization than it was a week ago.”

Persons: Altman, ”, Aaron Levie Organizations: Microsoft

☆ The Beatles Are Still Charting the Future of Pop. It Looks Bleak.
▼ + stars: | 2023-11-21 | by ( Peter C. Baker | ) www.nytimes.com time to read: +4 min

In that context, the “Now and Then” movie’s upfront billing of the track as the last Beatles song feels like a two-pronged rhetorical move. But the truth, ultimately, will lie not with any facts inherent to the universe of existing Beatles recordings. If you can make a Beatles single using ideas from two dead Beatles, then you can make one with ideas from three dead Beatles — or even, perhaps, from four. It reminds me of the Beatles without sounding like the Beatles — and why should it, when Lennon didn’t write it for them? But I suspect that, in this late project, the always-innovative Beatles are once again ahead of their time.

Persons: Drake, Johnny Cash, Taylor Swift, Hank Williams, I’ve, McCartney, Lennon didn’t, relistened

☆ What is Binance, why is it in so much trouble, and what does it mean for crypto?
▼ + stars: | 2023-11-21 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Not only is Binance the world’s biggest crypto exchange, it is orders of magnitude larger than its rivals. Up until recently, Binance boasted nearly 60% of the market share for crypto spot trading. The Seychelles-based OKX is second in market share at 5.44% and the US exchange Coinbase is third at 5.37%, according to crypto news site CoinDesk. Today, Binance takes responsibility for this past chapter.”It’s a common refrain among crypto firms who find themselves under scrutiny. “What this plea deal does is give Binance as a chance to live another day,” Yadav said.

Persons: Changpeng Zhao —, Binance, Zhao, “, ” Zhao, FTX, “ Binance, ”, Robert Le, Yesha Yadav, ” Yadav Organizations: New, New York CNN, Justice Department, Binance Holdings, Bloomberg, Getty, CZ, PitchBook, Investors, Vanderbilt University, Binance Locations: New York, Binance, Seychelles

☆ APEC Summit Biden Aims to Fortify Ties With Asian Nations at Summit in San Francisco
▼ + stars: | 2023-11-16 | by ( Katie Rogers | ) www.nytimes.com time to read: +12 min

Image President Xi Jinping of China spoke to a crowd of U.S. business executives at a dinner in San Francisco on Wednesday evening. “There are hundreds and hundreds of activists —” Crowd: “Go home Xi Jinping!” “— who are coming together from all corners of this nation.” “We are really upset. 1 question for us is: Are we adversaries or partners?” Mr. Xi asked. Mr. Orlins said the Chinese had prepared three versions of a speech Mr. Xi could deliver that night. After Wednesday’s events with Mr. Biden, Mr. Xi picked the friendliest one.

Persons: Xi Jinping, Carlos Barria, Xi, —, Xi Jinping doesn’t, ”, ” “, Jinping, Josh Edelson, Xi —, Mr, Tim Cook, Larry Fink, BlackRock, Jerry Brown, Elon Musk, ” John L, Holden, Biden, Doug Mills, ” Michael Hart, Jim Wilson, Angus, Gina M, Raimondo, “, Ms, “ I’m, Stephen A, United States — Deng Xiaoping, Jiang Zemin, Hu Jintao, Deng, It’s, ” Mr, Orlins, “ They’re, Jeff Chiu, Biden’s Organizations: Visit, Credit, Agence France, Hyatt Regency, Apple, Boeing, Pfizer, Nike, FedEx, Elon, McLarty Associates, San Francisco . Credit, New York Times, U.S, American Chamber of Commerce, ., Mr, National Committee, United, China Relations, Associated, U.S ., China Business Council, Economic Cooperation, Consulate Locations: China, U.S, San Francisco, Hong Kong, Tibet, United States, California, Filoli, San Francisco ., ”, Iowa, Asia, Pacific

☆ Welcome to the (almost) red-hot bond market
▼ + stars: | 2023-11-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Surging mortgage rates over the past few years have sent home loan applications and home sales down sharply. The 30-year fixed rate mortgage was also advancing towards 8% — a level not seen since the dot-com bubble popped in 2000. Those raging Treasury yields brought pain to investors and also increased how much American companies had to pay to service their debts. In fact, Wall Street is struggling to figure out what it means for the timing and scale of future rate cuts.

Persons: ”, Michael Hartnett, Gina Bolvin, “ We’re, Phillip Wool, Goldman Sachs, Morgan Stanley, Ellen Zentner Organizations: New, New York CNN, New York Federal, Treasury, Dow, Bank of America, Bolvin Wealth Management, Mortgage News, Mortgage, Association, Financial, Consumer, Federal Reserve, Goldman, Fed, UBS, Airlines for America, AAA Locations: New York

☆ San Francisco's retail crime may not be as bad as you think
▼ + stars: | 2023-11-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Early 2022 seemed to be a dire time for San Francisco, with shocking examples of retail crime. But according to a recent report, retail crime in San Franciscio is now 5% below its pre-pandemic norm. Retailers like Whole Foods and Walgreens referenced retail crime as a rationale for shuttering San Francisco stores. A San Francisco Target placed more merchandise under lock and key and increased reporting to police. Of the numerous challenges confronting San Francisco one year ago, retail crime is one that at least seems not to be getting worse.

Persons: —, Elon Musk, that's, there's, San Organizations: San, Service, Walgreens, Billionaire, Criminal Locations: San Francisco, Franciscio, Chattanooga , Tennessee, Memphis, Tennessee, Lincoln , Nebraska, Bay

☆ Strikes were just one battle. Hollywood is still fighting a war for survival
▼ + stars: | 2023-11-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Hollywood writers and actors are going back to work after one of the longest strikes ever in the entertainment industry. Hollywood is in a rebuilding era — a painful, awkward transition fueled by tectonic changes in technology and consumer behavior. Strikes, while disruptive, were only a blip compared with the many other existential quandaries weighing on media companies. Cable TV sign-ups have been rapidly falling for a decade, and no one believes that trend is going to reverse. Netflix and Disney aren’t just competing against each other, they’re also competing with YouTube and TikTok and endless podcasts.

Persons: CNN Business ’, Bob Iger, “, ”, We’re, Hulu —, Peacock, HBO Max — we’re, Max, “ OTT ” —, Iger, aren’t, Harrison Ford, Disney, they’re, That’s, Barbenheimer ”, Taylor Swift, Indiana Jones, you’ll Organizations: CNN Business, New York CNN, Hollywood, Studio, Disney, Paramount, Warner Bros, Cable, Netflix, Hulu, Apple, Amazon Prime, HBO, CNN, Discovery, Disney aren’t, YouTube, Intelligence Locations: New York

☆ Migrants say 'Spain or death' as Senegalese navy tackles sea crossings
▼ + stars: | 2023-11-04 | by ( Ngouda Dione | ) www.reuters.com time to read: +4 min

[1/5] Senegalese Navy members are seen on board the patrol boat 'Walo', as they search for illegal migrants, in the Senegalese high seas, November 2, 2023. We will reach Spain, or we will die," one man shouted into the night as he climbed on board. The numbers had dropped as most migrants chose land routes through the Sahara Desert and the Mediterranean Sea. The Walo has intercepted around 4,000 migrants and 30 boats since launching operations in August, another officer on the boat said. In August, a boat carrying over 100 migrants from Senegal was found adrift near Cape Verde.

Persons: Walo, We're, Diallo, Mbaye Ndaw, Alessandra Prentice, Edward McAllister, Aurora Ellis Organizations: Senegalese Navy, REUTERS, Senegalese, Migrants, Spain, WE, Spain's Civil Guard, Thomson Locations: Canary Islands, West Africa, Europe, Spanish, Senegal, Gambia, Senegalese, Cape Verde

NEW YORK (AP) — Fewer high school students are vaping this year, the government reported Thursday. In a survey, 10% of high school students said they had used electronic cigarettes in the previous month, down from 14% last year. Use of any tobacco product— including cigarettes and cigars — also fell among high schoolers, according to the Centers for Disease Control and Prevention report. — About 1 in 10 middle and high school students said they recently had used a tobacco product. There was a slight increase in middle schools students who said they had used at least one tobacco product in the past month, while that rate fell among high school students.

Persons: —, ”, Kenneth Michael Cummings, vape, Kurt Ribisl, Cummings, ___ Perrone Organizations: Centers for Disease Control, University of South, Drug Administration, FDA, CDC, University of North, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: University of South Carolina, China, University of North Carolina, Washington

It’s the first time Apple’s fiscal year revenue has dropped since 2019 when sales fell by 2%. Although Apple's revenue in the latest quarter deceased 1% from last year to $89.5 billion, its profit rose 11% to $22.96 billion, or $1.46 per share. To help juice its revenue, Apple has been raising some of its prices. In a bright spot, Apple's iPhone sales climbed 3% to $43.8 billion — a sign the company's latest models are being well received heading into the holiday shopping season. Apple’s service division also turned in a robust quarter with revenue of $22.31 billion, a 16% increase from last year.

Persons: Tim Cook, Cook, ”, Jesse Cohen, Max, Apple, “ Organizations: Apple, Research, U.S, Huawei, Google Locations: U.S, China, iPhones, Cupertino , California

NEW YORK (AP) — The U.S. infant mortality rate rose 3% last year — the largest increase in two decades, according to the Centers for Disease Control and Prevention. White and Native American infants, infant boys and babies born at 37 weeks or earlier had significant death rate increases. Because the number of babies born in the U.S. varies from year to year, researchers instead calculate rates to better compare infant mortality over time. The U.S. infant mortality rate has been worse than other high-income countries, which experts have attributed to poverty, inadequate prenatal care and other possibilities. The national rate rose to 5.6 infant deaths per 1,000 live births in 2022, up from from 5.44 per 1,000 the year before, the new report said.

Persons: “ It’s, ”, Marie Thoma, Eric Eichenwald, Eichenwald, Danielle Ely, —, ” Ely Organizations: Centers for Disease Control, University of Maryland, American Academy of Pediatrics, CDC, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Philadelphia, U.S, Georgia, Iowa , Missouri, Texas

This one won an extended Game 1 of the World Series for the Texas Rangers. If I did that, I’d be screaming, too,” Texas second baseman Marcus Semien said. “It's going to be a really good series,” García said. He became the first position player in MLB history to appear in a World Series 15 years after first playing in the Fall Classic. He also became the fourth player with a World Series hit at both age 23 or younger AND 38 or older.

Persons: Adolis García, Corey Seager's, mobbed, “, Josh Jung, ” Miguel Castro, El Bombi, Corbin Carroll, García, Max Muncy, Nathan Eovaldi —, ” García, Evan Carter's, Merrill Kelly, Jordan Montgomery, Seager, Paul Sewald’s, Leody, Bruce Bochy, ” José Leclerc, that's, we’ve, Torey Lovullo, ” Seager’s, Tony Beasley, ”, Marcus Semien, ” Seager, Tommy Pham, Ketel, Carroll, Zac Gallen, Mitch Garver, Gallen, Ryan Thompson, Joe Mantiply, Kevin Ginkel, Sewald, “ It's, Evan Longoria’s, Eddie Murray, Pee Wee Reese, Willie Mays, David Freese, Freese, ___ Organizations: Texas Rangers, Arizona Diamondbacks, ” Rangers, Los Angeles Dodgers, Boston, Rangers, Kansas City Royals, New York Mets, Arizona, Diamondbacks, Houston, Star, Marte, NL, Tampa Bay Rays, League, Rays, St, Louis Cardinals, Texas, Kelly Locations: ARLINGTON , Texas, Texas, Arizona, ” Texas

☆ Team Biden barely responds to Democrat Dean Phillips' longshot primary challenge
▼ + stars: | 2023-10-27 | by ( Emma Kinery | ) www.cnbc.com time to read: +4 min

Allies of President Joe Biden barely acknowledged Phillips' formal entrance into the race this week. In a prepared response to Phillips' announcement, Biden 2024 campaign spokesman Kevin Munoz did not even mention him by name. WASHINGTON — For team Biden, Rep. Dean Phillips , the Minnesota Democrat who launched a longshot primary challenge against the president, is barely a blip on the radar. "I'm not running against Joe Biden. I'm not running against President Biden," he said on MTP Now.

Persons: Joe Biden, Georgia Jon Ossoff, Raphael Warnock, Phillips, Biden, Kevin Munoz, Dean Phillips, David Scanlan, Atlanta Mayor Andre Dickens, Dickens, Donald Trump, Dean, Brendan Boyle, Boyle, Kristen Welker, Karine Jean, Pierre, Jean, it's, I'm Organizations: Democratic U.S, New, Democratic, Democrats, Democratic National Committee, South Carolina, WASHINGTON —, Minnesota Democrat, U.S . Rep, Statehouse, Biden, CNBC, Atlanta Mayor, Republican, Press, White House Press Locations: Georgia, Atlanta , Georgia, Granite, South, WASHINGTON, New Hampshire, Concord , New Hampshire, United States

☆ Man Utd show signs of life, but City offer real test
▼ + stars: | 2023-10-26 | by ( Martyn Herman | ) www.reuters.com time to read: +3 min

Another not-too-convincing victory at bottom club Sheffield United last weekend was admirable in its own way following the news of club great Bobby Charlton's death before kickoff. City suffered consecutive league defeats before the international break but have answered any doubts with wins over Brighton & Hove Albion and then at Young Boys on Wednesday in the Champions League. Guardiola will need no reminding that City lost at Old Trafford last year, having crushed United 6-3 at home. City also won the FA Cup final against United on their way to matching the Reds' treble of 1999. Sixth-placed Newcastle United will have to shrug off the disappointment of their Champions League loss to Borussia Dortmund as they face Wolverhampton Wanderers on Saturday.

Persons: Erik Ten, Bobby Charlton's, Harry Maguire's, Andre Onana, Guardiola, Sergio Aguero, They've, they've, Rasmus Hojlund, Erling Haaland, Ange Postecoglou, Monday's, Postecoglou, Martyn Herman, Christian Radnedge Organizations: Manchester, Manchester City, Brentford, Sheffield United, FC Copenhagen, Champions League, Pep, City, Brighton & Hove Albion, Young Boys, Old, FA, United, Reds, Manchester Evening, Premier League, Tottenham Hotspur, Tottenham, Fulham, Arsenal, Nottingham Forest, Newcastle United, Borussia Dortmund, Wolverhampton Wanderers, Saturday, Aston Villa, Luton Town, Thomson Locations: Old Trafford, City, Celtic, Liverpool

"If interest rates remain high ... it's that much harder for people to buy the car. The price of the popular Model Y SUV was "almost unchanged" for consumers even after Tesla's price cuts, Musk said, accounting for higher financing costs. Reuters GraphicsPRICE CUTSTesla's aggressive price cuts this year have battered its gross margin even as it faces stiff competition in China from local automakers. Still, it stuck to its annual production target of 1.8 million cars, a sign that the price cuts were buoying demand to an extent. In the second quarter, Tesla had posted a gross margin of 18.2%.

Persons: Matthew Childs, Elon Musk, Musk, Tesla, Jesse Cohen, Akash Sriram, Hyunjoo Jin, Joe White, Abhirup Roy, Sayantani Ghosh, Sriraj Kaluvilla, Deepa Babington, Jamie Freed Organizations: REUTERS, General Motors, Chrysler, Reuters, Visible Alpha, Revenue, Thomson Locations: London, Britain, Mexico, Nuevo Leon, China, Bengaluru, Hyunjoo, San Francisco, Detroit

☆ Millennials, Gen Z Mistakenly Bet on Inheritance From Boomer Parents
▼ + stars: | 2023-10-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +14 min

When she died, Grandma Sue left the most common form of inheritance, called an accidental bequest, which is simply the money left over when someone dies. The New York Times reported on a coming inheritance wealth boom in 2023, 2019, 2014, 2008, and 1999. Even for families with incomes in the 51% to 90% range of earners, the average inheritance was $46,000 — hardly life-changing money. Researchers have been talking about the coming Great Wealth Transfer for at least a quarter of a century. But the reality is that all the wealth boomers are sitting on probably won't end up fixing our collective financial problems.

Persons: Grandma Sue, Grandma Sue's, —, Xers, Gen Zers, Xer, shouldn't, Edward Wolff of, Maury Gittleman, Wolff, Gittleman, Michael Bloomberg, Warren Buffett, Larry Ellison, Bill Gates, Isabel Sawhill, It's, Penn, there's, they're, Bank of America cardholders, Joseph Smith, haven't, boomer, Ann Logue Organizations: Social Security, Medicaid, Boomers, Federal Reserve, New York Times, Edward Wolff of New York University, US Bureau of Labor Statistics, Federal, Brookings Institution, University of Pennsylvania, Penn, Medicare, Family Foundation, Bank of America, Consumer, Department of, Northwestern Mutual, IRS Locations: Northwestern, Chicago

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The S&P 500 and the Nasdaq dropped on Friday as deteriorating consumer sentiment data and the Middle East conflict kept investors away from riskier bets and overshadowed some upbeat earnings from big U.S. banks. Third-quarter earnings for the S&P 500 companies are estimated to grow 2.2% on an annual basis, LSEG data showed. Of the 32 S&P 500 companies that have reported results, 87.5% have surpassed expectations compared with the long-term average of 66.5%. Rival Moderna (MRNA.O) dipped 5.1%Lululemon Athletica (LULU.O) added 5.8% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard (ATVI.O).

Persons: Brendan McDermid, Antony Blinken, Pissouros, Goldman Sachs, Morgan Stanley, Johnson, Charles Schwab, Patrick Harker, Jerome Powell, Harker, Austan Goolsbee, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Reuters, Pfizer, Dow, Nasdaq, Treasury, XM, Bank of America, Johnson, Tesla, Netflix, Philly, New York, Philadelphia Fed, Federal, Chicago Fed, Dow e, Nvidia, Activision Blizzard, Thomson Locations: New York City, U.S, China, Israel, Gaza, United States, Bengaluru

☆ Former Atlanta Fed President Dennis Lockhart: There's a disinflationary trend underway
▼ + stars: | 2023-10-16 | 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 EmailFormer Atlanta Fed President Dennis Lockhart: There's a disinflationary trend underwayFormer Atlanta Fed President Dennis Lockhart joins 'Squawk Box' to discuss the Fed's rate hike campaign, whether the slowdown in inflation is a trend or momentary blip, the state of the economy, rate path outlook, and more.

Persons: Dennis Lockhart, There's Organizations: Former Atlanta Fed, Atlanta Fed

☆ Fed's Goolsbee says fall in US inflation is not just a blip- FT
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

Chicago Fed President Austan Goolsbee reacts as he heads into the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, U.S., August 24, 2023. "There is a lot saying that inflation is trending down compared with what it has been and that’s what we want," Goolsbee said in an interview with the Financial Times. It wasn’t a one-month blip... we have to hope and keep an eye out to make sure that continues," he said. The Chicago Fed president acknowledged a reversal in rental and other housing inflation after months of easing was a "negative surprise" meriting a "proper element of caution", according to the report. Reporting by Jose Joseph in Bengaluru; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Austan Goolsbee, Ann Saphir, Goolsbee, Jose Joseph, Toby Chopra Organizations: Chicago Fed, Kansas City, REUTERS, Financial Times, Thomson Locations: Kansas, Jackson Hole , Wyoming, U.S, Bengaluru

☆ Surging rents lift US consumer prices; underlying inflation grinding lower
▼ + stars: | 2023-10-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The so-called core CPI was also lifted by a 3.7% rise in the cost of lodging away from home, which ended three straight monthly declines. The core CPI gained 4.1% on a year-on-year basis in September, the smallest rise since September 2021, after advancing 4.3% in August. Over the last three months, the core CPI increased 3.1%. Still-strong demand in the economy, marked by labor market tightness, which is driving core services inflation excluding rents, imply that the higher rates could last for some time. Reuters GraphicsThere is no sign yet that the United Auto Workers (UAW)strike, now in its fourth week, is having a major impact on the labor market.

Persons: Olu Sonola, Stephen Juneau, Bing Guan, Seema Shah, Lucia Mutikani, Paul Simao Organizations: Federal Reserve, Labor Department, Higher U.S, Treasury, Fitch, CPI, Reuters, Bank of America Securities, Mobil, REUTERS, Fed, Financial, United Auto Workers, UAW, Ford, General Motors, Chrysler, Asset Management, Thomson Locations: WASHINGTON, U.S, New York, Beverly Boulevard, West Hollywood , California

☆ Dollar gains after US consumer prices rise more than expected
▼ + stars: | 2023-10-12 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

NEW YORK, Oct 12 (Reuters) - The dollar rose sharply on Thursday after U.S. consumer prices rose more than expected in September, lifted by an elevated cost of rent that raised the prospect of the Federal Reserve keeping interest rates high for some time. The consumer price index increased 0.4% last month, with a 0.6% jump in the cost of shelter accounting for more than half of the rise. The dollar rose more than 1% against sterling, and the Australian and New Zealand dollars. Owners' equivalent rent, a measure of the amount homeowners would pay to rent or would earn from renting their property, rose even though non-official sources show a decline in rental prices. Thursday's CPI release came after Wednesday's mixed report on U.S. producer prices, and minutes from the Fed's September meeting.

Persons: Douglas Porter, Bipan Rai, Thierry Wizman, Wizman, BoE, Wednesday's, Herbert Lash, Alun John, Ankur Banerjee, Emelia Sithole, Mark Potter, Jonathan Oatis Organizations: Federal Reserve, Labor, BMO Capital Markets, Reuters, New, CIBC Capital Markets, Fed, Bank of England, CPI, Swiss, Thomson Locations: Oakville, Canada, New Zealand, North America, Toronto, New York, London, Bengaluru, Singapore

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