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☆ Credit-card crackdown will net limited rewards
▼ + stars: | 2023-06-22 | by ( John Foley | ) www.reuters.com time to read: +8 min

NEW YORK, June 22 (Reuters Breakingviews) - With more than two open accounts for every American, credit cards are practically part of the family. The point of credit cards is to make spending easier, yet in practice their complexity rivals the edgiest financial derivatives. At Capital One, late fees account for a little less than $2 billion of revenue, or roughly 5%, a year. If late fees have raised hackles among U.S. lenders, they’re only a taste of what could lie in store. Currently, issuers can charge $30 for a first late payment and $41 for late payments thereafter if they happen within the following six billing cycles.

Persons: Joe Biden’s, Biden, Banks, don’t, Goldman Sachs, Rohit Chopra, Michael Barr, that’s, There’s, Chase, they’re, –, Joe Biden, Jeffrey Goldfarb, Oliver Taslic Organizations: YORK, Reuters, JPMorgan, Consumer Financial, Bureau, American Bankers Association, Citigroup, Federal Reserve, Securities and Exchange Commission, Discover Financial Services, Bank of America, One, Fed, Biden, University of Michigan, Apple, Chase Sapphire, American Express, Capital, U.S, Consumer Financial Protection Bureau, New York Fed, Thomson Locations: U.S, United Kingdom

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Amazon, Eli Lilly, Broadcom, Microsoft & more
▼ + stars: | 2023-06-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America upgrades XP to buy from neutral Bank of America said the Brazilian investment company's shares will re-rate higher. JPMorgan reiterates Amazon as overweight JPMorgan reiterated the stock as a top idea and said it sees a runway for more growth for Amazon Prime. " Deutsche Bank adds a catalyst call buy on Walgreens Deutsche says it's bullish heading into earnings next week. Bank of America reiterates Eli Lilly as buy Bank of America said the biopharma company is still one of the firm's favorite ideas. Bank of America reiterates Broadcom as buy Bank of America raised its price target on AI beneficiary Broadcom to $1,050 per share from $950.

Persons: Fargo, Goldman Sachs, Wells, Bud, Bud Light, Bernstein, Kellogg, underperform Bernstein, Morgan Stanley downgrades Tesla, Morgan Stanley, Tesla, " Bank of America downgrades Dow, DOW, it's, Riley, Expedia, TripAdvisor, Eli Lilly, Lilly, Raymond James, Alcoa, Piper Sandler, Piper Organizations: Bank of America, of America, Deutsche Bank, Anheuser Busch InBev, Deutsche, Nielsen, JPMorgan, Amazon Prime, Kellogg, " Bank of America, Walgreens Deutsche, Microsoft, Apple, Developers, Broadcom, Alcoa, Citi, Boston Scientific Citi, PFA, Card Locations: Brazil

☆ Diversity takes center stage at the new National Portrait Gallery in London
▼ + stars: | 2023-06-22 | by ( Nicole Mowbray | ) edition.cnn.com time to read: +7 min

London CNN —When The National Portrait Gallery opened its doors to the public in London on Thursday, it was the first time in three years it has done so. The National Portrait Gallery was officially opened by Catherine, Princess of Wales, seen standing in front of Joshua Reynolds’ Portrait of Mai (Omai). Why would the National Portrait Gallery commit to taking this work they wouldn’t see until it’s finished, 90% of which is created by non-artists? What did she do?” Haworth told the National Portrait Gallery about the figure. Some art critics have been scathing of the gallery’s rework, with Jonathan Jones at the Guardian dubbing it “the same old cocktail party.” His review begins: “The National Portrait Gallery has been closed for three years.

Persons: Princess Catherine of Wales, ”, Jamie Fobert, Purcell, The Mary Weston, David Parry, Tracey Emin, Sam Taylor Johnson’s, David Beckham, Zadie Smith, Toyin Ojih Odutola, Sir Michael Eavis, Peter Blake, Ada Lovelace, Margaret Sarah Carpenter, Catherine , Princess of, Joshua Reynolds ’, Mai, Paul Grover, Jann Haworth, Liberty Blake, Boudicca, Elizabeth I, Mary Beard, Beatrix Potter, Agatha Christie, Nicola Adams, Pepper’s, Haworth, ” Blake, “, ” Jann Haworth, Toby Hancock, Blake, “ It’s, ’ It’s, it’s, ” Haworth, Oliver Hess, Jonathan Jones, Nicholas Cullinan, You’ll Organizations: London CNN, Jamie Fobert Architects, Getty, Chanel Culture Fund, Olympic, Beatles, Art, CNN, Guardian Locations: London, United Kingdom, Britain, The, Nigerian American, Glastonbury, British, Catherine , Princess of Wales, AFP, Salt Lake City

☆ US crude inventories post surprise draw, fuel stocks rise, EIA says
▼ + stars: | 2023-06-22 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

Crude inventories (USOILC=ECI) fell by 3.8 million barrels to 463.3 million barrels in the week to June 16, compared with analysts' expectations in a Reuters poll for a 300,000-barrel rise. Crude stocks at the Cushing, Oklahoma, delivery hub (USOICC=ECI) fell 98,000 barrels, EIA said. U.S. crude oil exports climbed to 4.5 million barrels per day last week, while imports fell about 50% to 1.6 million barrels per day. "A rebound in crude exports, dip in imports, and ongoing strength in refining activity have encouraged a draw to crude inventories," said Matt Smith, a lead oil analyst at Kpler. Refinery crude runs (USOICR=ECI) fell by 116,000 barrels per day in the last week, EIA said.

Persons: Andrew Lipow, Matt Smith, Arathy Somasekhar, Stephanie Kelly, Jan Harvey Organizations: Energy Information Administration, Cushing, . West Texas, Brent, Lipow Oil Associates, EIA, Thomson Locations: Oklahoma, Houston . U.S, U.S, Houston, New York

☆ After jobs warning, Germany's Axel Springer says AI can liberate journalists
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

"For newsrooms, AI opens up new paths and freedoms. While Springer did not comment on the number of jobs at risk, company sources told Reuters a low three-digit number of employees would ultimately have to leave. Fadlallah said his focus was on regulatory challenges and the opportunities the technology opens up for consumers. Axel Springer is active in more than 40 countries and employs more than 18,000 people worldwide. Alongside its German titles, the firm owns English-language news website Politico, U.S. media company Insider and classified portals StepStone and AVIV.

Persons: Axel Springer, Samir Fadlallah, Springer, Fadlallah, Klaus Lauer, Anna Mackenzie Organizations: Reuters, Bild, Politico, Thomson Locations: BERLIN, Berlin, AVIV

☆ Dollar dips as Powell testimony disappoints hawks
▼ + stars: | 2023-06-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Powell told lawmakers the fight against inflation still "has a long way to go" and that despite a recent pause in interest rate hikes officials agreed borrowing costs would likely need to move higher. While noting that inflation remains very far from the Fed's target, Powell said it may make sense to still raise rates, at a more moderate pace. The dollar index , which measures the currency against six rivals, fell 0.43% to 102.07 following Powell's testimony to the House Financial Affairs Committee. Investors broadly expect rate hikes to resume at the Fed's July meeting, though financial market indicators reflect doubts that the Fed will deliver more increases beyond that. YEN UNDER PRESSURE, STERLING SEESAWSThe euro was 0.62 % higher against the dollar at $ 1.0985 .

Persons: Jerome Powell's, Powell, Karl Schamotta, Schamotta, Michael Brown, STERLING, Kazuo Ueda, Charles Schwab, Saqib Iqbal Ahmed, Tom Westbrook, Farouq Suleiman, Sam Holmes, Kim Coghill, Sharon Singleton, Alex Richardson, Richard Chang Organizations: YORK, U.S, Fed, House Financial, Committee, Investors, Bank of Japan, Reserve Bank of Australia's, Fidelity, Citadel Securities, Thomson Locations: Beijing

☆ Travel experiences you can only enjoy while you’re young
▼ + stars: | 2023-06-21 | by ( Francesca Street | ) edition.cnn.com time to read: +11 min

But if you’re still in your teens or 20s, it’s worth knowing about some of the amazing discounts, experiences and adventures only available to those under 30. From discount air fares to working vacation visas, we’ve rounded up some of the best travel experiences to enjoy while you’re young. “It’s 100% worth using the pass whilst you can get the youth discount,” Landon tells CNN Travel. Thurman absentmindedly Googled working working holiday visas, and to her surprise, realized the scheme “was so straightforward to apply for.”“I realized that the only barrier was me and my decision whether or not to apply,” Thurman recalls. If you’re not enrolled in college but you’re still under 30, the International Youth Travel Card could be an alternative.

Persons: CNN —, you’re, There’s, Kofi Landon, Kofi Landon Kofi Landon, Landon, he’d, Landon reckons, ” Landon, “, ”, Tammy Thurman, don’t, –, jetted, Thurman enviously, Thurman absentmindedly, ” “, ” Thurman, Thurman, it’s, she’s, who’s, you’ve, doesn’t, Markus Mainka, Gideon Hagström Lung, He’s, Hagström Lung, Lung Organizations: CNN, EU, Travelers, CNN Travel, Canada, Walt Disney World, Cathay Pacific, Eiffel, SAS, Emirates, Scandinavian Airlines Locations: Europe, Paris, Berlin, Venice, there’s, Prague, Czech Republic, Manchester, Lake Bled, Slovenia, Australia, Tasmania, South Korea, Portugal, Iceland, Canada, France, Ireland, Sydney, London, Melbourne, Emirates, Florence’s Uffizi, Helsinki, Finland, New York City, New York, Stockholm, Copenhagen

☆ UK inflation exceeds expectations in May, piling pressure on the government and Bank of England
▼ + stars: | 2023-06-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

The OECD recently predicted that the UK will experience the highest inflation among all advanced economies this year. Inflation dipped below 10% in April but continues to exceed consensus forecasts and remains significantly higher than the Bank of England 's 2% target. The Consumer Prices Index including owner occupiers' housing costs (CPIH), the ONS' preferred metric, rose by 7.9% in the 12 months to May 2023, up from 7.8% in April. LONDON — U.K. inflation came in hotter than expected in May, as consumer prices rose by an annual 8.7%, unchanged from the previous month. However, he said the Bank will now "feel like it has no choice, especially with core inflation now rising again."

Persons: Rishi Sunak, Jeremy Hunt, Marcus Brookes, Brookes, Thiru Organizations: OECD, Bank of England, ONS, Office, National Statistics, Reuters, LONDON, Organization, Economic Cooperation, Development, CPI, Quilter Investors, Bank Locations: Sheffield

☆ Julie Garwood, Best-Selling Romance Novelist, Dies at 78
▼ + stars: | 2023-06-21 | by ( Neil Genzlinger | ) www.nytimes.com time to read: 1 min

Julie Garwood, a romance novelist whose books — some set centuries ago, some sampling present-day maladies like computer hacking and Ponzi schemes — routinely landed on best-seller lists, died on June 8 at her home in Leawood, Kan., on the Missouri border. Her publisher, Berkley, part of the Penguin Group, announced her death in a statement but did not specify a cause. More than 40 million copies of Ms. Garwood’s books are in print in 32 languages, the company said. She was in her 40s when her writing career took off. She was prolific: “Rebellious Desire,” “Honor’s Splendor,” “The Lion’s Lady” and “The Bride” all followed before the end of the 1980s.

Persons: Julie Garwood, “, ” Organizations: Berkley, Penguin Group Locations: Leawood, Kan, Missouri, England

☆ Morning Bid: Hawkish Powell keeps markets on defense
▼ + stars: | 2023-06-21 | by ( Alden Bentley | ) www.reuters.com time to read: +3 min

June 22 (Reuters) - A look at the day ahead in Asian markets from Alden Bentley, Breaking News Editor for Finance & Markets, Americas. The week's main attraction, Fed Chair Jerome Powell's testimony before the U.S. House Financial Services Committee, came and went without rearranging the pieces on the table much. So, that left traders expecting rate hikes to resume at the Fed's July meeting, even as the futures market reflects doubts that the Fed will deliver more increases beyond that. U.S. Treasury yields held to pretty narrow ranges and, with Powell leaning hawkish but not deviating much from last week's FOMC message, the three major U.S. stock indexes fell, for the third straight session. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Alden Bentley, Jerome Powell's, Powell's embargoed, Powell, Raphael Bostic, Kazuo Ueda, Powell's, Jerome Powell, Deepa Babington Organizations: Finance & Markets, . House Financial Services Committee, Atlanta Federal Reserve, Yahoo Finance, Reuters, Bank of Japan, Wednesday's U.S, Reserve Bank of Australia's, Treasury, CPI, Thomson Locations: Alden, Americas, U.S, Wednesday's, Japan, Indonesia

☆ FTC sues Amazon, alleging it tricked consumers into signing up for Prime
▼ + stars: | 2023-06-21 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

CNN —The Federal Trade Commission sued Amazon on Wednesday, alleging that the e-commerce giant has tricked millions of consumers into signing up for its Prime subscription service through deceptive user interface designs. “Specifically, Amazon used manipulative, coercive, or deceptive user-interface designs known as ‘dark patterns’ to trick consumers into enrolling in automatically-renewing Prime subscriptions,” the FTC complaint said. With Prime, Amazon is able to generate billions in revenue from subscriptions and incentivize customers to spend more time and money on its platforms. According to Wednesday’s complaint, Amazon took some steps in April, in response to FTC pressure, to simplify users’ ability to cancel their Prime subscriptions but before then had denied customers the ability to easily cancel their Prime subscriptions online. Other than contacting customer service, Amazon offered no alternative to consumers wishing to cancel apart from going through the Iliad process, the FTC said.

Persons: Jeff Bezos, Andy Jassy, Amazon, ”, “, —, Lina Khan Organizations: CNN, Federal Trade Commission, Amazon, Court, Western, of, FTC Locations: of Washington

☆ CEOs do matter when picking stocks. 5 things we look for in a leader and examples from our portfolio
▼ + stars: | 2023-06-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +16 min

It's not unusual for a company's stock price to soar — or sink — on news of a CEO shakeup. So, CEOs matter when picking stocks — and at the Club, these are the five things we look for when evaluating the leaders of our holdings. A stock's day-to-day and even month-to-month performance may not truly reflect how well a CEO is leading a company. Trust has value, and the stocks of companies led by reputable CEOs with competent management teams can trade at premium valuations. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Mary Dillon, Locker, J im Cramer, buybacks, Rainer Blair, —, Kevin Johnson, Marc Benioff, Mark Zuckerberg, Zuckerberg, we've, Bruce Broussard, Humana, Jeff Smith's, Craig Jelinek, who's, that's, Jelinek, it'd, Andy Jassy, Tim Cook, he's, Cook, Jim Cramer's, Dan Schulman, Sanjiv Lamba, Linde, Lamba, Eli Lilly, Dave Ricks, Eli Lilly's, Jim, Lilly, Jim Farley, Farley, Elon Musk's Tesla, Ford, LLY, Jim Cramer, Spencer Platt Organizations: Club, McKinsey & Co, Natural Resources, GE Life Sciences, SVB Securities, Starbucks, Humana, Bain & Co, Costco, CNBC, Apple, Amazon's, Football, MGM, Management, PayPal, Linde, LIN, Ford Motor, Wall, EV, Ford, The New York Stock Exchange, Financial, Getty Locations: U.S, Manhattan, New York City

☆ Bild: Germany's biggest newspaper is cutting 20% of jobs as it prepares for an AI-powered digital future
▼ + stars: | 2023-06-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

Axel Springer, which publishes Germany’s biggest-selling daily newspaper, told employees in an email Tuesday that the newspaper would cut six of its 18 regional editions, and close two-thirds of its regional offices. The company plans to produce Bild’s regional newspapers, and manage its regional reporters, from Berlin in the future, it said. According to German newspaper Frankfurter Allgemeine, about 200 jobs will be cut. Axel Springer would not confirm the exact number of layoffs to CNN, but it said the figure would be in the “low three-digit[s].” Bild currently employs about 1,000 people. “AI will soon be able to completely take over the layout of the printed newspaper,” the company added.

Persons: Axel Springer, Mathias Döpfner, Axel Springer’s, ” Axel Springer Organizations: London CNN, CNN, Frankfurter Allgemeine, Bild Locations: Berlin

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Tesla, Amazon, Delta, Rivian, Disney & more
▼ + stars: | 2023-06-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Evercore ISI reiterates Apple as outperform Evercore said it's bullish on Apple's venture into augmented and virtual reality. " Morgan Stanley upgrades U.S. Foods to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it sees "optionality." Morgan Stanley initiates Everest Re Group as overweight Morgan Stanley said it's bullish on shares of the insurer. Morgan Stanley initiates Arch Capital as overweight Morgan Stanley said the insurance company is "best positioned for secular growth opportunities." Morgan Stanley upgrades Avis Budget to overweight from equal weight Morgan Stanley said it likes the company's profitability potential.

Persons: Evercore, it's, it's bullish, Piper Sandler, Tesla, Piper, we've, Morgan Stanley, Baidu, Read, Philip Morris, Raymond James downgrades Palantir, Raymond James, Goldman Sachs, Goldman, Canaccord, Bud, Chipotle Organizations: Apple, Pro, Credit Suisse, Citi, Delta Citi, Bank of America, Inc, Foods, Everest, Arch, Avis, OW, Nvidia, Data Center, BMO, Securities, Disney, ESPN, Anheuser Busch InBev Locations: 1H23, 2Q23, China, combustibles, Hulu

☆ How to Crush the Wall Street Summer Internship
▼ + stars: | 2023-06-20 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +13 min

Wall Street's summer internship season is finally here — and the competition will be fierce. "I wouldn't be surprised if it's 70% or even less," he said of the return offer rates at the end of the summer. So if you're starting your Wall Street internship now, congratulations. At the end of the summer, they may help determine who gets a return offer. "It's a 10-week internship, you're 20 years old.

Persons: it's, Steve Sibley, They're, Sibley, don'ts, Goldman Sachs, David S, Holloway, Asif Rahman, Rahman, you'll, doesn't, I've, Gucci loafers, you've, You've Organizations: Indiana University's Kelley School of Business, Google, Wall Street Locations: New York City, San Francisco, snagging, dealmaking

☆ Credibility crisis requires BoE to write new plot
▼ + stars: | 2023-06-20 | by ( Francesco Guerrera | ) www.reuters.com time to read: +7 min

LONDON, June 20 (Reuters Breakingviews) - Since May 24, thousands of British people have had their homeowning dreams dashed by a sudden spike in mortgage rates. Unlike many other central banks, the BoE doesn’t provide its own forecasts of how consumer prices will evolve in coming years. The whiplash occurred because traders had to digest the inflation shock without any interest rate guidance from policymakers. Because most banks price home loans off those derivatives, it sent mortgage rates rocketing. The BoE announces its latest interest rate decision on June 22, with traders expecting a 25-basis-point hike, to 4.75%.

Persons: “, Paul Gascoigne, BoE, Andrew Bailey, That’s, Bailey, ”, Charles Goodhart, ’, apocryphally, Seneca, David Roberts, George Hay, Oliver Taslic Organizations: Reuters, Bank of England, Monetary, U.S . Federal Reserve, European Central Bank, Reuters Graphics Reuters, MPC, Financial Times, Fed, Thomson Locations: policymaking, BoE’s

Gannett said this leaves Google with "exorbitant monopoly profits," and "dramatically less revenue" for publishers and its ad technology rivals. "Digital advertising is the lifeblood of the online economy," Gannett Chief Executive Mike Reed said in an opinion published in USA Today. Like many newspaper publishers, McLean, Virginia-based Gannett has struggled with falling ad revenue as more Americans, estimated at 86%, get news online. Gannett said digital advertising is a $200 billion business, up nearly eightfold since 2009, but newspaper ad revenue fell nearly 70% over that time. The case is Gannett Co v Google LLC et al, U.S. District Court, Southern District of New York, No.

Persons: Gannett, Mike Reed, Jonathan Stempel, Louise Heavens, Jonathan Oatis, Richard Chang Organizations: YORK, Gannett, U.S ., USA, Google, Alphabet Inc, European Union, U.S . Department of Justice, Gannett Co, Court, Southern District of, Thomson Locations: Manhattan, USA, View , California, U.S, Texas, McLean , Virginia, Southern District, Southern District of New York, New York

[1/2] A model of a Future Combat Air System (SCAF), a European aircraft developed by France, Germany and Spain is displayed during the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 19, 2023. REUTERS/Benoit TessierPARIS, June 19 (Reuters) - The Paris Airshow opened on Monday with last-minute jet order negotiations and supply chain headaches competing for attention with rows of missiles, drones and futuristic transport. France's Thales (TCFP.PA) announced a contract from Indonesia for 13 long-range air surveillance radars. On the commercial side, planemakers arrived with growing demand expectations as airlines rush for capacity to meet demand and help reach industry goals of net zero emissions by 2050. Airbus is also close to a potentially large order for narrow-body jets from Mexican low-cost carrier Viva Aerobus, industry sources said on Sunday.

Persons: Benoit Tessier PARIS, Le Bourget, Emmanuel Macron, France's, planemakers, Tim Hepher, Joanna Plucinska, Allison Lampert, Valerie Insinna, Mark Potter Organizations: Air, Paris, REUTERS, Farnborough, French Rafale, U.S, Rafale, Eurofighter, France's Thales, Airbus, . Industry, Qantas, Viva Aerobus, Boeing, Thomson Locations: European, France, Germany, Spain, Le Bourget, Paris, Britain, Belgium, Franco, Spanish, Ukraine, Indonesia

☆ Vintage Glastonbury photos show how much the festival has changed
▼ + stars: | 2023-06-19 | by ( Martha Alexander | ) edition.cnn.com time to read: +6 min

(CNN) — The countdown to this weekend’s Glastonbury Festival is on; the stages are built, headliners are on their way and some 200,000 people are expected to attend. -Twenty six-year-old British photographer Paul Misso was there on a dual mission: to drive an RV for his friend, the Oscar-winning actress Julie Christie, and to take pictures of the event. “They just languished in a drawer for decades.”A couple sit in a wildflower meadow at Glastonbury Fair in June 1971. The resulting tome, “In The Vale of Avalon: Glastonbury Festival 1971,” may be more than 50 years after the event, but it serves as both a work of art and a historical document. It’s phenomenal.”“In The Vale of Avalon: Glastonbury Festival 1971” is published by IDEA books and available in a limited run of 1,000 copies at Dover Street Market, London.

Persons: David Bowie, Paul Misso, Oscar, Julie Christie, Nicolas Roeg, Christie, “, ‘, ”, Paul Misso Misso, —, Misso, Peter Neal, Roeg, Jean Shrimpton, David Owen, Twiggy, Paul Misso “, Bill Harkin, ” Misso Organizations: CNN, Glastonbury Fair, Fairport Convention, London School of Printing, wholesomeness, Glastonbury, ”, IDEA, “, Nikon Locations: Glastonbury, London, ”, Avalon, British, Dover, Market

☆ How Local Officials Seek Revenge on Their Hometown Newspapers
▼ + stars: | 2023-06-18 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

Two of the most powerful women in the village of Delhi in central New York sat face to face in a brick building on Main Street for what would become a fight over the First Amendment. It was the fall of 2019. Tina Molé, the top elected official in Delaware County, was demanding that Kim Shepard, the publisher of The Reporter, the local newspaper, “do something” about what Ms. Molé saw as the paper’s unfair coverage of the county government. Ms. Shepard stood her ground. Not long after, Ms. Molé struck where it would hurt The Reporter the most: its finances.

Persons: Tina Molé, Kim Shepard, Molé, Shepard Locations: Delhi, New York, Delaware County

☆ The Fed just held interest rates and signaled future hikes at the same time – a move that baffled many. Here's how Larry Summers, Mohamed El-Erian, and others have reacted.
▼ + stars: | 2023-06-17 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

The Fed pressed pause on its interest-rate increases this month after boosting borrowing costs 10 times since early 2022. The move spurred a wave of commentary given the central bank at once held rates and signaled more hikes. "It seems like the unanimity of opinion that we need more rate hikes has been clear, but the path of rate hikes is all over the place," he added. "It was what I would call, an awkward but hawkish pause," he added. Peter Schiff, chief global strategist at Euro Pacific Capital"Don't believe the hype on the Fed's hawkish pause on rates.

Persons: Larry Summers, Mohamed El, David Rosenberg, Jeff Gundlach, —, Jerome Powell, Summers, Erian, Tom, Dick, Harry, " Rosenberg, Gundlach, Steve Forbes, Forbes, Don't, Richard Clarida, they've, they're, Clarida, Whitney Watson, Watson, Peter Schiff, Schiff Organizations: Fed, Service, Federal Reserve, Bloomberg, Erian, Allianz, CNBC, Federal, Global, Goldman Sachs, Euro

☆ Just days after pausing rate hikes, Fed official calls for more increases
▼ + stars: | 2023-06-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —The dust has barely settled on the Federal Reserve’s decision to pause its aggressive rate-hiking campaign — but in public appearances Friday, central bank officials have a clear message: Keep hiking. In one of the first speeches, Fed Governor Christopher Waller said Friday that additional rate increases are necessary to bring inflation down to the central bank’s 2% target. The Fed’s decision to restart hikes depends on what data show in the coming weeks and months. It is the job of bank leaders to deal with interest rate risk and nearly all bank leaders have done exactly that,” Waller said. A representative of the event said the conference wasn’t being recorded and that only registrants who paid a fee were able to attend.

Persons: Christopher Waller, ” Waller, ”, Gregory Daco, Ernst & Young, ” Powell, Waller, “, Michael Gapen, Gapen, they’re, Louis President James Bullard, Thomas Barkin Organizations: DC CNN, Federal, Norges Bank, International Monetary Fund, Ernst &, Bank, BofA Global Research, CNN, Federal Reserve Bank of St, Federal Reserve Bank of Richmond, Maryland Government Finance, Association Locations: Washington, Oslo, Norway, ”

☆ Boris Johnson, Out of Parliament, Is a Columnist Again
▼ + stars: | 2023-06-16 | by ( Mark Landler | ) www.nytimes.com time to read: +1 min

But it was conspicuously absent from The Daily Mail, the biggest and most influential British tabloid. That is — until one looked above the headline about Mr. Johnson’s latest woes to a curiously familiar silhouette of a figure with a generous head of hair. Next to it was a headline that said, “Starting tomorrow: Our erudite new columnist, who’ll be required reading in Westminster — and across the world!”A spokesman for The Mail, Sean Walsh, confirmed that the mysterious new writer was Mr. Johnson, the former prime minister. His first weekly column was due to be posted on The Mail’s website on Friday around 5 p.m. local time (noon Eastern), Mr. Walsh said, and would appear as a full page in print on Saturday. Image Friday’s cover of The Daily Mail promising a new columnist.

Persons: Boris Johnson’s, Johnson’s, who’ll, Sean Walsh, Johnson, Walsh, Rishi Sunak Organizations: The Daily Mail, The Mail, Daily Mail Locations: British, Westminster —

☆ A New York hospital is suing another because it used a 'confusingly similar' shade of purple
▼ + stars: | 2023-06-16 | by ( Rebecca Cohen | ) www.businessinsider.com time to read: +4 min

NYU Langone is suing Northwell Health, alleging it created "confusingly similar advertisements." "This case is about deceptive business practices," lawyers for NYU Langone wrote in the lawsuit. NYU Langone filed a lawsuit Thursday alleging that neighboring New York hospital system and known competitor, Northwell Health, copied its signature purple-colored advertisements to create "confusingly similar advertisements" in the New York area. "This case is about deceptive business practices," lawyers for NYU Langone wrote in the lawsuit. In a response to the suit, Northwell Health called NYU's claims "preposterous."

Persons: NYU Langone, Northwell, Steve Ritea, Ritea, Ramon Soto Organizations: NYU, Northwell, Morning, New York's Southern, Court, NYU Langone, US News Locations: New York, New York's, United States

☆ Toolbelts, cardboard bags and ‘crogs:’ Fendi makes a case for carpenter-core
▼ + stars: | 2023-06-16 | by ( Scarlett Conlon | ) edition.cnn.com time to read: +4 min

Step forward the “corporate artisan”, star of the Italian fashion house’s SS24 show on Thursday night and proposed pin-up for next season. Part technical-whizz, part traditional tool-master, the handle speaks to the modern-day creative, said Artistic Director Silvia Venturini Fendi in a pre-show preview with CNN. FendiFor the accessories, Venturini Fendi collaborated with the Japanese architect Kengo Kuma - who she regards to be “the best to combine nature and technology” - to reinvent signature Fendi bags including the Peekaboo in traditional Japanese washi paper. The clog silhouette is going nowhere, as Fendi becomes the latest high fashion brand to reimagine the comfy slip-on shoe. Pietro D'Aprano/Getty ImagesThe set, said Venturini Fendi, was masterminded so to be transparent about the teamwork involved in creating a fashion collection.

Persons: Silvia Venturini Fendi, Fendi, ”, Kengo Kuma, JW Anderson, Pietro D'Aprano, Venturini Fendi, “ It’s, ” Alexander Skarsgard, Daniele Venturelli, Adele, Karl Lagerfeld, “ Organizations: CNN, JW Locations: Capannuccia, Florence, Italy, Rome

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