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The talks are ongoing and some other potential investors are also in discussions to invest in the IPO, the sources added. SoftBank Group Corp (9984.T), which owns Britain-based Arm, is targeting a valuation between $50 billion and $55 billion, Reuters reported earlier on Friday. Arm's clients have agreed to invest in that valuation range, the sources said. Arm and SoftBank have set aside 10% of the shares to be sold in the IPO for its clients, Reuters has previously reported. The Wall Street Journal reported on Arm's valuation target earlier on Friday.
Persons: Dado Ruvic, SoftBank, Echo Wang, Anirban Sen, Rosalba O'Brien Organizations: REUTERS, Arm Holdings, Apple Inc, Nvidia Corp, Inc, Devices Inc, Intel Corp, Samsung Electronics Co, Cadence Design Systems, Synopsys Inc, SoftBank Group Corp, Reuters, Apple, Nvidia, Amazon.com Inc, AMD, Intel, Samsung, Cadence, Street, Thomson Locations: Britain, New York
Oil set to snap two-week losing streak on tightening supplies
  + stars: | 2023-09-01 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations of the OPEC+ group of oil producers extending output cuts to the end of the year. U.S. crude inventories fell by a more-than-expected 10.6 million barrels last week, government data on Wednesday showed. Commercial crude oil inventories have plunged by 34 million barrels since the middle of July. A weaker U.S. dollar, which looks set to end a six week winning streak, also helped prices. A stronger dollar pressures oil demand by making the commodity more expensive for buyers holding other currencies.
Persons: Brent Organizations: U.S . West Texas, bbl, Organization Petroleum Exporting, National Australia Bank, ANZ, Federal Reserve Locations: OPEC, Saudi Arabia, U.S
Tiafoe managed to convert just five of 15 break points and said the 35-year-old Frenchman's unpredictable style gave him fits in the nearly three-hour affair. "He's so annoying to play," Tiafoe said to laughs during an on-court interview. "I think we got him tickets to our box but he ended up getting better tickets right on the side of the court," Paul told reporters. Next up for Paul is 20-year-old American Ben Shelton after the 20-year-old ran away with a 6-4 3-6 6-2 6-0 win over Aslan Karatsev earlier on Friday. American men are looking to snap a 20-year major drought at this year's U.S. Open.
Persons: Frances Tiafoe, France's Adrian Mannarino REUTERS, Brendan Mcdermid, Adrian Mannarino, Tiafoe, what's, I'm, shrugged, I've, Arthur Ashe, Tommy Paul, Alejandro Davidovich Fokina, SUPERFAN Paul, Eddy, Paul, Ben Shelton, Aslan Karatsev, Taylor Fritz, Jakub Mensik, Rory Carroll, Ken Ferris Organizations: Tennis, Louis Armstrong, U.S, Flushing, Thomson Locations: Flushing Meadows , New York, United States, Flushing Meadows, Brooklyn, Czech, U.S, Los Angeles
BERLIN, Sept 1 (Reuters) - Bayern Munich's dreadful recent record against Borussia Moenchengladbach won't be on their minds when the sides meet on Saturday, with the champions clear favourites to win, said Bayern coach Thomas Tuchel. Since the 2011/12 season no other team has won more matches against Bayern in the league, with Gladbach boasting 10 victories, with nine defeats and five draws. "Because we do not believe in streaks if they go against us," Tuchel said jokingly on Friday when asked why Bayern would snap their opponents' run. "But we are still the favourites going into the game and are going there to win," he told a press conference. "Against Gladbach we have to pick up where we left off against Werder Bremen and the second half against Augsburg," Tuchel said.
Persons: Thomas Tuchel, Tuchel, Harry Kane, Karolos, Toby Davis Organizations: Bayern, Borussia Moenchengladbach, Gladbach, Bundesliga, Tottenham Hotspur, England, Werder Bremen, Thomson Locations: Augsburg, Gladbach
Rep. Marjorie Taylor Greene said she will not fund the government without an impeachment inquiry on Biden. The White House released a statement criticizing her for risking a government shutdown. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "I've already decided I will not vote to fund the government unless we have passed an impeachment inquiry on Joe Biden," Greene said during her town hall. Marjorie Taylor Greene🇺🇸 (@RepMTG) August 31, 2023The White House was not thrilled to hear those remarks from Greene.
Persons: Marjorie Taylor Greene, Biden, Joe Biden, I've, Greene, Marjorie Taylor Greene 🇺🇸 ( Organizations: Service, GOP, Ukraine, COVID, Lawmakers, Locations: Wall, Silicon, Georgia
Dollar set for weekly loss as crucial US jobs data looms
  + stars: | 2023-09-01 | by ( ) www.cnbc.com   time to read: +3 min
The dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a pivotal monthly U.S. jobs report that is likely to inform the path for Federal Reserve policy over coming months. Elsewhere, the Chinese yuan strengthened after the nation's central bank cut forex reserve requirements for the first time in a year. It slipped 0.08% to 145.405 yen on Friday, putting its loss for the week at 0.7%. The single currency was little changed at $1.08455 following a 0.74% tumble on Thursday that pared its weekly advance to 0.49%. "Pill's comments appear consistent with another quarter-point turn of the screw on 21 September, but not necessarily thereafter," Attrill said.
Persons: pare, Ray Attrill, Huw Pill, Attrill, bitcoin, Bitcoin Organizations: Federal Reserve, U.S, National Australia Bank, ECB, Bank of England, People's Bank of, Securities and Exchange Commission, SEC Locations: Asia, People's Bank of China
CNN —After roaring higher for most of this year, the rally in tech stocks sputtered in August as investors grew increasingly worried about how long the Federal Reserve will keep interest rates high. Strong economic data in recent months has investors betting that the Fed will keep interest rates higher for longer. Higher yields also mean companies will need to pay more interest on their debt in the future, eating into future cash flows. Sustained, lofty yields could particularly pose a problem for tech stocks, which often trade at a premium because of the promise of rapid growth. Any sell-off in tech could reverberate across the broader market, since those stocks are largely responsible for propelling this year’s rally.
Persons: Ivana Delevska, Spear, Bryan Mena, CNN’s Gregory Wallace, Julie Hedrick, “ We’re, Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Treasury, Nvidia, Devices, Marvell Technology, Gross, Commerce, American Airlines, Association of Professional, Airline
Without the cash infusion, the admin says, Social Security could get bogged down. Without that temporary budget fix, Social Security could get bogged down, low-income babies and seniors might not receive their benefits, and student loan repayment could get even thornier. The agency noted that the Education Department requires $2.3 billion to ensure it can effectively disburse student aid. It would also allocate $1.8 billion for student aid administration, which is $265 million below its current level. Are you worried about losing WIC or other food assistance, or struggling to repay student loans?
Persons: Biden, Joe Biden, Chuck Schumer, Kevin McCarthy, Schumer Organizations: Biden, Social Security, Service, Security, Management, OMB, SNAP, Social Security Administration, Women, Federal Student Aid, Education Department, Federal, Aid, Labor, Republicans, MSNBC, Republican, jkaplan Locations: Wall, Silicon, Washington
After Hurricane Michael struck Florida in 2018, home sales rose significantly, allowing disaster investors to reap the rewards. This venture has the potential to be even more rewarding given the increasing frequency of natural disasters in the US. But federal disaster relief is painfully slow to respond and often doesn't cover most of the costs. And while moratoriums on damaged land sales aren't a long-term, legally tenable solution, there are ways state officials might be able to deter disaster investors. As the threat of natural disasters increases, so will disaster profiteers.
Persons: Josh Green, Ian, Hurricane Michael, Hurricane, Joe Raedle, Hurricane Maria, Congress —, Hurricane Sandy, it's, Anthony DiMauro Organizations: Nashville Metro Council, FEMA, Hurricane, Centers for Environmental, Federal Reserve's Survey, Consumer Finances, Emergency Managment Agency, Small Business Administration, Urban Institute, Office, Congress, of Housing, Urban, Bloomberg, Newsweek, L.A Locations: Hawaii, Maui, Hawaii's, Tennessee, Nashville, Florida, Wilsey, New Orleans, California, Puerto Rico, Lahaina, New York
New York CNN —Dollar General slashed its sales and profit outlook for the year on Thursday, blaming headwinds including weaker consumer spending on non-essential purchases and increasing theft. Dollar General shares tumbled nearly 17% in pre-market trading Thursday. For its second quarter, Dollar General logged a 1% drop in its same-store sales. Meanwhile, close on the heels of Dick’s Sporting Goods sounding the alarm on store theft eating into its profit this year, Dollar General also flagged an increase in product theft, among other factors, hurting its profit. Target warned earlier this year that it was bracing to lose half a billion dollars because of rising theft.
Persons: ” Neil Saunders, , , it’s Organizations: New, New York CNN —, Dollar, Sporting Locations: New York
The EU wants to wean itself off Russian fossil fuels by 2027 and has cut its use of piped Russian gas dramatically. Even so, EU countries imported a record amount of Russian LNG this year, per Global Witness. Global Witness projects the EU's Russian LNG purchases in 2023 to total nearly 5.3 billion euros, or $5.75 billion. "Buying Russian gas has the same impact as buying Russian oil. In March, Kadri Simson, the EU's energy commissioner, called on member states to stop buying Russian LNG as it's a "reputational risk."
Persons: Moscow —, Adam Bennett, Bennett, Spain —, Jonathan Noronha, Gant, Kadri Simson, Teresa Ribera Organizations: Service, LNG, Moscow, Global, EU, Russia, Russian, Russian LNG, Commission Locations: Wall, Silicon, Ukraine, Europe, Kpler, China, Japan, South Korea, Belgium, France, Netherlands, Spain
Rebecca Zamolo has over 14 million subscribers on YouTube and over 17 million followers on TikTok. Zamolo talks about how she got started on YouTube and built her first 1 million subscribers. Every sixth video, I pushed my YouTube channel, with a clip of a teaser of a full YouTube video. With my YouTube audience coming from Musical.ly, I realized my audience had become younger. For my main YouTube channel, "Rebecca Zamolo," my content is higher-quality, produced videos that appeal to a mass audience.
Persons: Rebecca Zamolo, Zamolo, I'd, , Matt, I've Organizations: YouTube, Google's AdSense, YouTube YouTube Locations: Los Angeles, Musical.ly, Google's
Republicans have criticized how Biden and the federal government responded to the Hawaii fires, though officials in the state praised the support they received from the White House. “I let each governor I spoke with know if there’s anything the states need right now, I’m ready to mobilize that support,” Biden said. Biden visited the island early last week, pledging sustained federal support for the island and its residents. Biden signed an emergency declaration Monday unlocking federal resources and said Tuesday he was in “constant contact” with authorities from Florida. The US Coast Guard is supporting search and rescue, and there are three disaster survivor assistance teams deployed in Florida.
Persons: Joe Biden, Hurricane Idalia, Biden, Deanne Criswell, Idalia, Criswell, , ” Biden, Ron DeSantis, Brian Kemp, Henry McMaster, DeSantis Organizations: CNN, Hurricane, FEMA, White, Ukraine, Florida Gov, Georgia Gov, South Carolina Gov, Florida Republican, Department of Energy, Republican, US Coast Guard, US Department of Agriculture’s Food, Nutrition Service, US Army Corps of Engineers Locations: Hawaii, Florida, Maui, United States of America, Georgia, East Coast, West Coast
If Adams worried about the photographs he posed for, later presidents worried about the photographs they didn’t consent to. It’s well known that the White House sought to keep evidence of Franklin Roosevelt’s physical disability out of sight, but advisers were also anxious that even the most routine candid shot might make him look bad. As the first social media president, Barack Obama walked the line between control and interactivity. The administration took advantage of nearly every new social media outlet as it emerged. In addition, White House photographers, led by Pete Souza, built a huge visual archive of presidential photographs shared in real time on Flickr.
Persons: Adams, Theodore Roosevelt, Woodrow Wilson, Franklin, Roosevelt, Barack Obama, Pete Souza Organizations: White, Photography, White House, Flickr
Hurricanes are categorized by their wind speeds on the Saffir-Simpson Hurricane Scale. Hurricanes are split into five categories based on the wind speeds they produce:Category 1: winds between 74 m.p.h. To be considered a “major” hurricane, according to the National Hurricane Center, a storm must reach Category 3 or above. A hurricane’s strength matters because it helps meteorologists give residents in its path an idea of what type of damage is possible. A Category 2 hurricane, for example, has the potential to cause major roof damage to homes, snap or uproot shallowly rooted trees, and knock out power in an area for days to weeks.
Persons: Herb Saffir, Bob Simpson Organizations: Hurricanes, National Hurricane Center
It's time to start loading up on U.S. stocks and other risk assets, HSBC said. Investors are heading into September after what has been a weak month for equities. However, HSBC analyst Max Kettner said he does not expect any "similar broad-based sell-offs" going forward even if yields remain elevated. "So we think this presents a pretty good tactical entry point into risk assets, above all into US equities." While many economists are leaving behind U.S. recession forecasts, they still expect further weakness in Europe.
Persons: Max Kettner, Kettner, CNBC's, Michael Bloom Organizations: HSBC, Investors, Nasdaq, Atlanta Federal Locations: U.S, Europe
The dollar index , which measures the U.S. currency against six peers, edged 0.08 lower to 104.08 after hitting its highest since early June on Friday. "It remains unlikely we get a hike from the Fed in September," Chris Weston, head of research at Pepperstone, said. With the Fed highlighting the importance of the upcoming U.S. economic data, investors' focus this week will be on reports on payrolls, core inflation and consumer spending. But the single currency traded near an almost 11-week low hit on Friday after European Central Bank President Christine Lagarde said policy needed to be restrictive. China's yuan steadied against the dollar, buoyed by the Chinese central bank repeatedly setting stronger-than-expected daily-mid-points.
Persons: Dado Ruvic, Jackson, Jerome Powell, Chris Weston, Weston, Rodrigo Catril, Christine Lagarde, Tommy Wu, Joice Alves, Ankur Banerjee, Mark Potter, Barbara Lewis Organizations: REUTERS, Fed, National Australia Bank, European Central Bank, Bank of Japan, Sterling, London, Thomson Locations: SINGAPORE, U.S, China, Japan, London, Singapore
The dollar index , which measures the U.S. currency against six peers, edged 0.06% lower at 104.11, after hitting its highest since early June on Friday. "But November is shaping up to be a 'live' event, where data points have the potential to throw interest rate expectations around." With the Fed highlighting the importance of the upcoming U.S. economic data, investors' focus this week will firmly be on reports on payrolls, core inflation and consumer spending. According to Refinitiv data, the market is now evenly split on whether there will be another rise in the 3.75% rate in September. China's yuan steadied against the dollar, buoyed by the Chinese central bank persistently setting stronger-than-expected daily-mid-points.
Persons: Dado Ruvic, Jerome Powell, Powell, Chris Weston, Weston, Rodrigo Catril, Christine Lagarde, Tommy Wu, Joice Alves, Ankur Banerjee, Mark Potter Organizations: REUTERS, Fed, National Australia Bank, European Central Bank, Bank of Japan, Thomson Locations: SINGAPORE, China, Beijing, U.S, Japan, London, Singapore
We have waited for Estee Lauder (EL), too. Estee Lauder is a huge employer in China and a favored one. Estee Lauder remains a great answer for them. Disney and Estee Lauder are battles and we have waited until our adversaries seem spent and the time is right. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jeff Marks, we've, that's, Estee Lauder, , Bob Iger, Estee's Fabrizio Freda —, Iger, Freda, Xi, Gina Raimondo, Monday, Wang Wentao, Lauder, It's, Jim Cramer's, Jim Cramer, Jim, Disney Bob Iger, Kevin Dietsch Organizations: Disney, ESPN, Hulu, NBC, Comcast, DIS, Fox, Netflix, Apple, Federal Trade Commission, Paramount, Warner Brothers Discovery, Hollywood, United State, Cosmetics, U.S, Commerce, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley Conference, Getty Locations: Hulu —, China, United, Hainan, South Korea, Iger, Sun Valley , Idaho
Djokovic and Wozniaki make winning returns to US Open
  + stars: | 2023-08-28 | by ( Steve Keating | ) www.reuters.com   time to read: +4 min
On the women's side, Coco Gauff was made to work for her place in the second round. Djokovic, prevented from playing in last year's U.S. Open due to being unvaccinated against COVID-19, began his latest campaign to match Margaret Court's all-time record haul of 24 Grand Slams with a 6-0 6-2 6-3 win over Alexandre Muller. read more"This court has seen so much history and so many battles," Djokovic told the New York crowd. SPARSE CROWDWhile Djokovic played in front of a packed house, Swiatek performed to a sparse sleepy morning audience. In contrast to Gauff's laboured win, Danielle Collins, the 2022 Australian Open finalist, turned on the jets to dispose of Czech Linda Fruhvirtova 6-2 6-0 in a lightning quick 52 minutes.
Persons: Serbia's Novak Djokovic, France’s Alexandre Muller, Mike Segar, Novak Djokovic, Caroline Wozniacki, Swiatek, Taylor Fritz, Frances Tiafoe, Coco Gauff, Margaret Court's, Alexandre Muller, Carlos Alcaraz, Djokovic, Frenchman, Arthur Ashe, Daniil Medvedev, Barack Obama, Michelle, Serena Williams, Swede Rebecca Peterson, mercifully, Daria Saville, I'm, Wozniacki, Tatiana Prozorova, Andy Roddick, Fritz, Tiafoe, Steve Johnson, Christopher Eubanks, South Korea's Kwon, Laura Siegemund, Gauff's, Danielle Collins, Czech Linda Fruhvirtova, Steve Keating, Pritha Sarkar, Shri Navaratnam, Peter Rutherford Organizations: Tennis, France’s Alexandre Muller REUTERS, U.S, Djokovic, COVID, Cincinnati, New, U.S ., Djokovic's, Russian, Wimbledon, South, Thomson Locations: Flushing Meadows , New York, United States, U.S, New York, Flushing, American, Cincinnati, Czech
Dollar soft as investors digest 'higher for longer' path
  + stars: | 2023-08-28 | by ( ) www.cnbc.com   time to read: +3 min
"We will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data," Powell said in a keynote address. "It is the Fed's job to bring inflation down to our 2% goal, and we will do so." "It remains unlikely we get a hike from the Fed in September," said Chris Weston, head of research at Pepperstone. The single currency was up 0.04% to $1.0804, while the pound was last at $1.2599, up 0.17% on the day. The Australian dollar rose 0.55% to $0.644, while the New Zealand dollar gained 0.32% versus the greenback to $0.592.
Persons: Jerome Powell, Powell, Chris Weston, Weston, Rodrigo Catril Organizations: Fed, National Australia Bank, Bank of Japan, New Zealand Locations: Chicago, U.S, Japan
AdvertisementAdvertisementThe Meta CEO told staff they could expect him to spend half of the next year working remotely. True to his word, in his first week Musk banned remote work in a 2:30 a.m email to Twitter staff. Still: Unlike some of the other wealthy CEOs on this list, Eric Yuan has always been a little skeptical of permanent remote work. Roy RochlinSalesforce CEO Marc Benioff was initially outspoken in his support for remote working. Joining the growing list of CEOs that say remote work is not conducive to productivity, Salesforce revised its work-from-anywhere strategy.
Persons: Mark Zuckerberg, Goldman Sachs, Prithwiraj Choudhury, Zuckerberg, Meta, I've, Erin Scott, Skip, Insider's Kali Hays, Hugh Langley, Evan Spiegel, Miranda Kerr, Pierre Mouton, Stringer, Spiegel, I'm, ERIC PIERMONT, Kali Hays, Jack Dorsey, PRAKASH SINGH, lockdowns, Dorsey, Elon Musk, Musk, Zoe Schiffer, hasn't, Eric Yuan, Kena, Zoom, Kelly Steckelberg, Yuan, Marc Benioff, Roy Rochlin, Salesforce, Benioff, Justin Sullivan, Kara Swisher Organizations: Service, Meta, Harvard Business School, Wall Street, Staff, CNBC, Getty, Twitter, San, New, Elon, San Francisco, Bloomberg, Zoom, Workers, MarketWatch, Smith, Yahoo Finance, Insider Locations: Wall, Silicon, San Francisco, Singapore, Silicon Valley , California
Fritz, Tiafoe lead American charge into U.S. Open second round
  + stars: | 2023-08-28 | by ( ) www.reuters.com   time to read: +3 min
The top-ranked Americans were hardly tested as ninth seed Fritz crushed compatriot Steve Johnson 6-2 6-1 6-2 in Louis Armstrong Stadium after Tiafoe, the 10th seed, beat American Learner Tien 6-2 7-5 6-1 inside Arthur Ashe Stadium. There have been 78 consecutive Grand Slams played since Andy Roddick won the 2003 U.S. Open, and hopes that an American man can snap that title drought at one of the sport's blue-riband events have fallen largely on the shoulders of Fritz and Tiafoe. I was calm and I thought I played a really good match," said Fritz. Tiafoe faced a tricky opening test in Tien, who at 17 was the youngest player in the main draw and earned a U.S. Open wild card after winning a second consecutive USTA Boys' 18s National Championship. "I have so many good memories from last year and all I am focused on is the U.S. Open," said Tiafoe.
Persons: Frances Tiafoe, Learner Tien, Shannon Stapleton, Taylor Fritz, Fritz, Steve Johnson, Louis Armstrong, Arthur Ashe, Andy Roddick, Tiafoe, Johnson's, Tien, Tommy Paul, Stefano Travaglia, Christopher Eubanks, South Korean Kwon, Frank Pingue, Josie Kao Organizations: Tennis, Learner, U.S, REUTERS, Tiafoe, USTA Boys, New York, U.S ., South, Thomson Locations: Flushing Meadows , New York, United States, American, U.S, South Korean, Toronto
We were in Churchill, a town of roughly 900 people nicknamed the “Polar Bear Capital of the World,” in Canada’s Manitoba province. A male polar bear rests during a Tundra Buggy ride into the Churchill Wildlife Management Area in August. People have to learn to co-exist with polar bears in Churchill, where some of them stay waiting for sea ice to refreeze. Hudson Bay polar bears are among the most vulnerable on Earth because of loss of sea ice, with their numbers in sharp decline. They arrive as soon as the sea ice breaks up to feast on small fish called capelin that spawn here.
Persons: we’re, I’d, Nico, Ursula, Jim Baldwin, Baldwin, Alex Cupeiro, , Terry Ward, you’re, Terry Ward I’d, we’d, Barba, can’t, Jennifer Diment, “ Churchill, Ward, Chantal Maclean, , ” Maclean, ” Nico, Chantal, he’d, John Gunter, Fronters, velcroed, Indiana Jones, Joe, he’d maxed, Sandra Cook, Churchill Organizations: CNN, Polar Bears, Churchill Wildlife Management, Churchill Wildlife Management Area, Frontier North, Zodiac, Helicopters, Bear Holding, , Churchill Locations: Churchill, Canada’s Manitoba, Florida, Hudson Bay, Hudson, Tampa, Winnipeg, Churchill’s, Svalbard, Norway, Stockholm, Oslo, Toronto, Denver, Vancouver, Washington, Ithaca, SS Ithaca
The question from Mr. Masters was a rare chance for the governor to make his single best argument in one place. I think he appointed a lot of duds to office, and it really hurt his ability to get his agenda done. True to his debate performance and campaign trail events, Mr. DeSantis never delivered a real punch. While Mr. DeSantis may not have had a breakout moment at the debate on Wednesday, Republican voters thought he performed best of all the candidates, according to a snap poll by the Washington Post, FiveThirtyEight and Ipsos. And his campaign said he raised more than $1 million the following day, the most its raised in 24 hours, apart from the day Mr. DeSantis announced he was running.
Persons: Masters, Hillary Clinton, Paul Ryan, DeSantis Organizations: Republican, Washington Post Locations: Florida
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