DIRS.INFO The most relevant business & tech news

☆ Dollar hovers near two-month high, yen near 146/dlr
▼ + stars: | 2023-08-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The dollar index , which measures the U.S. currency against six rivals, was at 103.55, not far from the two-month high of 103.71 it touched on Tuesday. The index is up 1.6% in August and is on course to snap its two-month losing streak. The Australian dollar rose 0.40% to $0.645, while the New Zealand dollar rose 0.29% to $0.596. In cryptocurrencies, bitcoin last rose 0.77% to $26,049, having touched two-month low of $25,350 overnight.

Persons: Florence Lo, Christopher Wong, Jerome Powell's, Wong, Thomas Barkin, Saira Malik, Atsushi Takeuchi, Fumio, Takeuchi, bitcoin, Ankur Banerjee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Federal Reserve, Richmond Fed, Nuveen, Bank of, New Zealand, Thomson Locations: , Wyoming, OCBC, Singapore, U.S, tenterhooks, Tokyo, Japan

European Commissioner for Internal Market Thierry Breton attends a news conference following an informal video conference of internal market and industry ministers in Brussels, Belgium February 25, 2021. These very large online platforms and very large online search engines have until Friday to provide their first annual risk assessment to the European Commission. "Complying with the DSA is not a punishment – it is an opportunity for these online platforms to reinforce their brand value and reputation as a trustworthy site," Breton said in a statement. "My services and I will thoroughly enforce the DSA, and fully use our new powers to investigate and sanction platforms where warranted," he said. Reporting by Foo Yun Chee; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Thierry Breton, Olivier Hoslet, Breton, Foo Yun Chee, Chizu Organizations: Internal, Rights, Google, Microsoft, Twitter, Digital Services, DSA, HK, European Commission, Thomson Locations: Brussels, Belgium, Europe

☆ Stocks making the biggest moves midday: Nvidia, Peloton, Foot Locker, Dick's Sporting Goods and more
▼ + stars: | 2023-08-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nvidia has been one of the biggest winners on the back of the AI boom with shares rising nearly 220% this year. Peloton reported a loss of 68 cents per share, versus the 38-cent loss per share expected by analysts polled by Refinitiv. Foot Locker — The athletic retailer plunged 33% after cutting its outlook again for the year and suspending its quarterly dividend. Advanced Auto Parts — Advance Auto Parts rose 1% after beating analysts' revenue expectations for its second quarter. The auto retail company reported revenue of $2.69 billion, greater than the consensus estimate of $2.66 billion, according to Refinitiv.

Persons: Locker, Fitch, Abercrombie, Charles Schwab —, Schwab, Oppenheimer, Brown, Forman —, Morgan Stanley, Avery Dennison, Davidson, Safehold, Goldman Sachs, Goldman, it's, Shane O'Kelly, — CNBC's Hakyung Kim, Samantha Subin, Yun Li, Sarah Min, Jesse Pound Organizations: Nvidia, Refinitiv . Revenue, Dick's, Goods, Abercrombie, Pharmaceuticals, Nike —, Urban Outfitters, Refinitiv, Revenue, Netflix, Bank of America, UBS, DA, Marvell Technology, Susquehanna Locations: Louisiana, Pacific

☆ Dollar hovers near two-month high, yen near 146 per dollar
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The U.S. dollar perched near a two-month peak on Wednesday as investors looked to the Federal Reserve chair's speech this week for cues on the path of monetary policy, while the yen loitered near 146 a dollar, keeping traders guessing on any intervention. The dollar index , which measures the U.S. currency against six rivals, was at 103.55, not far from the two-month high of 103.71 it touched on Tuesday. In cryptocurrencies, bitcoin last rose 0.77% to $26,049, having touched two-month low of $25,350 overnight.

Persons: Christopher Wong, Jerome Powell's, Wong, Thomas Barkin, Saira Malik, Atsushi Takeuchi, Fumio, Takeuchi, bitcoin Organizations: U.S, The U.S, Federal Reserve, Richmond Fed, Nuveen, Bank of, New Zealand Locations: Tokyo, Japan, The, , Wyoming, OCBC, Singapore, U.S, tenterhooks

Arm is hoping for a valuation of up to $70 billion in the IPO, which will launch on the Nasdaq next month. Arm and its owner SoftBank Group have set aside 10% of the shares to be sold in the IPO for its clients, the sources said. Its close relationship with Arm has helped it design chips that curbed its reliance on Intel as a supplier. Many technology companies that seek to make their own chips using Arm’s designs turn to TSMC for its low-cost manufacturing. None of these companies’ investments in Arm’s IPO are certain.

Persons: Dado Ruvic, ”, Jack Gold, SoftBank, Apple spokespeople, Jay Lee, Masayoshi Son, Son, TSMC, Dylan Patel Organizations: FRANCISCO, Reuters, Arm Holdings, REUTERS, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Nasdaq, Gold Associates, SoftBank, Devices Inc, APPLE, SAMSUNG, Samsung, MICROSOFT, Devices, Vision Fund Locations: Switzerland, Japan

☆ Asia stocks snap losing streak, yields hit fresh peaks
▼ + stars: | 2023-08-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Benchmark 10-year yields climbed 2.5 basis points (bps) in early Tokyo trade to touch 4.366%, their highest level since 2007 and are up almost 40 bps for the month so far. European futures were last up 0.6% and FTSE futures rose 0.3%. At the same time, however, inflation expectations have hardly budged - meaning that "real" yields, which discount inflation expectations, have surged - a development likely to prompt investors to re-evaluate taking risks. The 10-year real rate breached 2% on Monday. Sovereign yields in Australia, Korea, New Zealand and Japan all rose on Tuesday, with 10-year Japanese yields hitting their highest since 2014 at 0.66%.

Persons: Issei Kato, BOJ's Ueda, Vishnu Varathan, Jerome Powell, Kazuo Ueda, Edwina Gibbs Organizations: REUTERS, SINGAPORE, Japan's Nikkei, Wall, Treasury, Mizuho Bank, Federal, Sovereign, BHP, Bank of Japan, New Zealand, Brent, Benchmark, Dalian, Nvidia, Thomson Locations: Tokyo, Japan, Asia, Pacific, Singapore, Australia, Korea, New Zealand, Hong Kong

☆ Soaring yields leave stocks struggling for headway
▼ + stars: | 2023-08-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Benchmark 10-year U.S. Treasury yields rose about 2.5 basis points (bps) in early Tokyo trade to 4.366%, extending an overnight rise to hit their highest since 2007. The 10-year real rate breached 2% in overnight trade. Sovereign yields in Australia, Korea, New Zealand and Japan all rose on Tuesday, with 10-year Japanese yields hitting their highest since 2014 at 0.66%. China disappointed markets with smaller-than-expected interest rate cuts on Monday, though it has been resolute in defending its sliding currency. The euro , which rose slightly overnight, was firm at $1.0906, while the Antipodean currencies , were pinned near nine-month lows and looking vulnerable.

Persons: Issei Kato, Vishnu Varathan, Jerome Powell, reiteration, Varathan, Himani Sarkar Organizations: REUTERS, Rights, Treasury, Japan's Nikkei, Wall, Mizuho Bank, Federal, UST, BHP, Reuters, Brent, Benchmark, Nvidia, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Singapore, Australia, Korea, New Zealand, CHINA, Hong Kong

☆ The 10-year Treasury yield hit its highest level since 2007. What it means for stocks
▼ + stars: | 2023-08-22 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The U.S. 10-year Treasury yield climbed to its highest level since 2007 this week. Meanwhile, the 30-year Treasury yield reached its highest point since 2011. What's more, higher yields are typically a negative for tech and growth stocks — this year's best-performing group — as they lessen the value of their promised future earnings. Ned Davis Research's Joseph Kalish said Monday he expects the 10-year Treasury yield could rise to 5.25%, citing risks to the bond market on inflation expectations. US10Y YTD mountain U.S. 10-year Treasury yield YTD "The market has been consistently underpricing the risk of additional rate hikes and overpricing the speed of rate cuts," Kalish wrote.

Persons: Ned Davis Research's Joseph Kalish, Kalish, Strategas, Chris Verrone, 133bps, Verrone, Wolfe, Chris Senyek, Morgan Stanley's Matthew Hornbach, it's, Tom Essaye, — CNBC's Michael Bloom, Chris Hayes Organizations: Treasury, Federal Locations: U.S

☆ Spanish king nominates conservative Feijoo for premiership bid
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

MADRID, Aug 22 (Reuters) - Spain's King Felipe on Tuesday nominated the leader of the conservative People's Party (PP), Alberto Nunez Feijoo, to face a parliamentary vote for prime minister, according to lower house speaker Francina Armengol. No single party or bloc earned an outright majority of seats in the snap general election. Earlier on Tuesday, acting Prime Minister Pedro Sanchez said that he believed his Socialist party would be able "to gather the parliamentary support needed" to form a government. Her appointment was seen as a nod to smaller regional parties, whose support Sanchez would need in a potential bid should Feijoo fail. If no candidate secures a majority within two months of the first vote, new elections have to be called.

Persons: King Felipe, Alberto Nunez Feijoo, Francina, Feijoo, Feijoo's PP, Pedro Sanchez, Armengol, Esquerra Republicana, Sanchez, Pietro Lombardi, David Latona, Andrei Khalip, Mark Porter, Mark Heinrich Our Organizations: People's Party, Socialist, Sanchez's Socialists, ERC, Thomson Locations: MADRID, Balearic, Catalonia

☆ San Francisco Archdiocese files for bankruptcy as it faces more than 500 sexual abuse lawsuits
▼ + stars: | 2023-08-22 | by ( Jamiel Lynch | ) edition.cnn.com time to read: +3 min

CNN —The Archdiocese of San Francisco has filed for Chapter 11 bankruptcy as it faces more than 500 lawsuits alleging child sexual abuse. “We seriously doubt that the Archdiocese of San Francisco does not have the assets to settle these lawsuits,” the Survivors Network of Abuse by Priests said in a statement. The San Francisco filing comes after the Catholic Diocese of Oakland similarly filed for bankruptcy protection in May after it received more than 330 claims of sexual abuse. The Catholic Church as a whole has faced intense criticism over its response to multiple reports detailing decades of sexual abuse, systemic failures and cover-ups across multiple countries. The San Francisco Archdiocese serves more than 440,000 Catholics across the counties of San Francisco, San Mateo and Marin, according to its website.

Persons: Salvatore Cordileone, “, Priests, Cordileone, Pope Francis Organizations: CNN, Archdiocese, Survivors Network, Catholic Diocese of, Catholic, San, SNAP, San Francisco Archdiocese Locations: Archdiocese, San Francisco, California, Francisco, Catholic Diocese of Oakland, CNN Portugal, San Francisco Archdiocese, San Mateo, Marin

☆ Morning Bid: Skyrocketing yields in the spotlight
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Tom WestbrookBond selling extended on Tuesday to drive 10-year Treasury yields to fresh 16-year highs in Asia trade and leave already-nervous stock markets cautious. But it isn't inflation, as inflation expectations have hardly budged -- investors are plainly demanding a higher return to keep on buying the stuff. Some analysts have drawn attention to the coincidence of timing between the selloff and the Bank of Japan's signal that it would allow 10-year Japanese yields as high as 1%. Small beer on the data calendar on Tuesday will keep the focus on yields and on Fed Chair Jerome Powell's Jackson Hole speech on Friday. The yen took a small boost on the risk of intervention after Bank of Japan Governor Kazuo Ueda met with Prime Minister Fumio Kishida.

Persons: Dado Ruvic, Tom Westbrook Bond, Jackson, Jerome Powell's Jackson, HSI, Thaksin Shinawatra, Kazuo Ueda, Fumio Kishida, Ueda, Shri Navaratnam Organizations: REUTERS, Bank of, BHP Group, Bank of Japan, Reuters, Better, Thomson Locations: Asia, Shanghai, Hong Kong, China, Bangkok

Arm is hoping for a valuation of up to $70 billion in the IPO, which will launch on the Nasdaq next month. Arm and its owner SoftBank Group (9984.T) have set aside 10% of the shares to be sold in the IPO for its clients, the sources said. Its close relationship with Arm has helped it design chips that curbed its reliance on Intel as a supplier. Many technology companies that seek to make their own chips using Arm's designs turn to TSMC for its low-cost manufacturing. None of these companies' investments in Arm's IPO are certain.

Persons: Dado Ruvic, Jack Gold, SoftBank, Apple spokespeople, Jay Lee, Masayoshi Son, Son, TSMC, Dylan Patel, Milana Vinn, Stephen Nellis, Max Cherney, Greg Roumeliotis, Matthew Lewis Organizations: REUTERS, FRANCISCO, Arm Holdings, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Reuters, Nasdaq, Gold Associates, SoftBank, Devices Inc, APPLE, SAMSUNG, Samsung, MICROSOFT, Devices, Vision Fund, Thomson Locations: Switzerland, Japan, New York, San Francisco

☆ Russia's economic woes have brought a flood of cash and sparked a real estate boom in the UAE
▼ + stars: | 2023-08-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Traders in the Gulf state have ramped up business in Russian oil and gold markets, the WSJ reported. Conversely, Russians are flocking to the UAE, bringing their wealth to its economy and sparking a real estate boom. That's as sanctions and trade restrictions have weighed heavily on Russia's economy, cutting it off from billions of its foreign reserves and crimping its energy trade. Russians were the third-largest group of real estate buyers in Dubai over the last quarter, the real estate firm Betterhomes told the Journal, up from the ninth-largest group in 2021. Russia's economy meanwhile is in a state of turmoil.

Persons: Betterhomes, Putin Organizations: Traders, Service, United Arab Emirates, UAE, Wall, Yale Locations: UAE, Gulf, Wall, Silicon, Russia, Ukraine, Dubai, Poland

☆ How a TikToker with 861,000 followers who got paid to promote TV and movies is pivoting to earn money as the Hollywood strikes continue
▼ + stars: | 2023-08-21 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

As actors and writers continue to strike, some influencers are standing in solidarity. Creators who were paid to attend TV and movie premieres are trying to make money in other ways. He also said he wouldn't attend any other premieres or post TV or movie-related content until the strike was resolved. "It was at that point I decided it might just be better to completely shift away from that kind of content," Arujo said. Snap stories, TikTok challenges, and music festivals have been his new go-tosThe 19-year-old has shifted his content focus from TV and film to music amid the strikes.

Persons: Joseph Arujo, didn't, Arujo, he's, DMing, Omar Apollo, I've, it's, He's, Hollywood, I'm Organizations: Hollywood, SAG, Writers Guild of America, influencers, Disney, Netflix, Recording Academy, Creative Locations: Los Angeles

☆ Stock Market Today: Dow Futures Rise; Tesla Stock Gains Premarket
▼ + stars: | 2023-08-21 | by ( ) www.wsj.com time to read: +1 min

The robust U.S. economy has raised expectations of higher-for-longer borrowing costs, and Treasury yields have hit decade-plus highs in recent days. Treasury yields gained. The benchmark CSI 300 lost 1.4% and Hong Kong’s Hang Seng Index fell deeper into a bear market. European natural gas prices jumped again. Labor disputes in Australia’s energy industry have driven up gas prices in Europe more than 30% in August.

Persons: Dow industrials, Brent, Jerome Powell, Jackson Organizations: Treasury, Nasdaq, CSI, Labor Locations: Europe

☆ Tech's broken promises: Streaming is now just as expensive and confusing as cable. Ubers cost as much as taxis. And the cloud is no longer cheap.
▼ + stars: | 2023-08-21 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

The various bundles are now as annoyingly confusing as cable, and cost basically the same. The Financial Times recently reported that a basket of the top US streaming services will cost $87 this fall, compared with $73 a year ago. Cloud promises are being brokenFinally, there's the cloud, which promised cheaper and more secure computing for companies. In the roughly five years since going public, the company has spent about $3 billion on cloud services from Google and AWS. So, cloud services connected to the internet are great for everyone, except Google?

Persons: we're, Uber, Lyft, Steven Levy, Dara Khosrowshahi, Khosrowshahi, Slack, Andreessen Horowitz Organizations: Morning, Netflix, Disney, Wall Street, Paramount, Showtime, Financial Times, Tacoma International, Microsoft, Google, CNBC Locations: New York City, Seattle

☆ Security Is the Main Worry as Ecuador Votes on Sunday. Here’s What to Know.
▼ + stars: | 2023-08-20 | by ( Genevieve Glatsky | José María León Cabrera | ) www.nytimes.com time to read: +1 min

Presidential elections will be held in Ecuador on Sunday at a tumultuous moment for the country. President Guillermo Lasso called snap elections in May amid impeachment proceedings against him over accusations of embezzlement. Here’s what you need to know about the upcoming vote. The impeachment proceedings were permanently halted once Mr. Lasso dissolved congress. The move came amid a moment of extraordinary political turbulence for Ecuador, a country of 18 million on South America’s western edge.

Persons: Guillermo Lasso, Fernando Villavicencio, mafias, Lasso Locations: Ecuador, South

☆ Ecuador election: assassinations cast a grim shadow as country selects a new president
▼ + stars: | 2023-08-20 | by ( Tara John | ) edition.cnn.com time to read: +8 min

Nearly 100,000 troops will be dispatched to ensure public safety and order across Ecuador on election day, Ecuador’s government says. Friends, family members and supporters of Ecuadorean presidential candidate Fernando Villavicencio attend a tribute at Quito Exhibition Center. Henry Romero/ReutersEverything to play forAnything could happen in Sunday’s presidential vote, say analysts, who point to the killing of Villavicencio as potentially changing voters’ preferences. Journalist and presidential candidate Christian Zurita gestures next to his running mate, vice presidential candidate Andrea Gonzalez (R), in Quito on August 13, 2023. Ecuador presidential candidate Yaku Perez looks on as he arrives to participate in a presidential debate, in Quito, Ecuador August 13, 2023.

Persons: CNN —, Fernando Villavicencio, Otto Sonnenholzner, Guillermo Lasso, Henry Romero, ”, Laura Lizarazo, “, Glaeldys González, …, Pedro Briones, Luisa González, Rafael Correa, Lizarazo, Rodrigo Buendia, Correa, González, Villavicencio, Christian Zurita, Andrea Gonzalez, Martin Bernetti, Moreno, Erika Paredes, Marcos Pin, ” Lizarazo, Yaku, Yaku Perez, Karen Toro, El, Nayib Bukele –, Bukele, Jan, Vicente Gaibor del Pino Organizations: CNN, Quito Exhibition Center, Reuters, ”, Crisis, Movimiento, Getty, CNN En, Construye’s, Alianza Actuemos Locations: Ecuador, Colombia, Peru, United States, Guayaquil, Esmeraldas province, Quito, AFP, Belgium, Samborondon

☆ Aldi is getting bigger. Here's why the no-frills German grocer is looking to the Southern U.S. for growth
▼ + stars: | 2023-08-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

No-frills discounter Aldi is the latest grocer to shake up the industry with big moves. It's also had to race to keep up with competitors' online options, prompting Aldi to expand curbside pickup to more stores. But the deal has big implications for publicly traded competitors including Walmart and Kroger, as well as regional grocers. CNBC spoke to Jason Hart, the CEO of Aldi U.S., about why the company is doing the deal and how it sees Aldi fitting into a fast-changing grocery landscape. Why was Aldi interested in acquiring Winn-Dixie and Harveys Supermarket?

Persons: Kroger, Joe's, It's, Jason Hart, we've Organizations: Winn, Dixie, Southern, Aldi, Albertsons, Companies, Amazon, Walmart, Kroger, CNBC Locations: Southern U.S, Florida , Alabama, Georgia, Louisiana, Mississippi, Germany, Winn

Josh Green insisted Friday that the years-long undertaking of rebuilding Maui’s historic Lahaina community will prioritize residents’ desires over those of property developers. The western Maui community – once a lively economic and cultural hub – has been decimated by the wildfires that began tearing through the island on August 8. Sarah Salmonese sits where her apartment once stood in Lahaina, Hawaii, on Friday, August 11. Matthew Thayer/The Maui News/AP In pictures: The deadly Maui wildfires Prev NextSports teams pitch in to helpWith the stark task ahead of rebuilding leveled communities, some sports teams are contributing to ongoing relief efforts. Proceeds from the game on October 29 in Champaign, Illinois, will be donated to the Hawai’i Community Foundation Maui Strong Fund, which provides financial resources towards Maui’s recovery, according to the schools.

Persons: Josh Green, ” Green, Jaime Kanani Green, ”, “, they’ve, Tiare Lawrence, Green, he’s, Herman Andaya, Andaya, Sarah Salmonese, Go Nakamura, Ken Alba, Jae C, Yuki Iwamura, Patrick T, Fallon, Bryan Anselm, Mike Blake, Matthew A, Foster, Rick Bowmer, Lauren Haley, Makalea Ahhee, Justin Sullivan, Max Whittaker, Zoltan Balogh, Robert Gauthier, Mengshin Lin, Evelio Contreras, CNN Vixay Phonxaylinkham, Lana, Phonoxaylinkham, Marco Garcia, Claire Rush, Myrna Ah Hee, Sui, Ty O'Neil, Ku'u Kauanoe, ZUMA, Matthew Thayer, WNBA’s Sparks, Bill Self, Brad Underwood Organizations: CNN, Hawaii Gov, Maui’s Emergency Management Agency, New York Times, Getty, Reuters, Staff, US Army National Guard, Maui Police, Facility, AP Volunteers, Grace Baptist, Volunteers, Los Angeles Times, AP, Washington Post, Kahului Airport, Technologies, Kahului, AP Helicopters, Hawaii Army National Guard, Hawaii National Guard, Reuters Residents, ZUMA Passengers, Maui News, Angeles, Angels, Dodgers, NFL’s Chargers, Rams, NBA’s Clippers, Lakers, NHL’s, Ducks, Angel City Football Club, LA Galaxy, University of Kansas, University of Illinois ’, Hawai’i, Strong, Maui Invitational Locations: Hawaii, Lahaina, Maui, –, Maui County, Lahaina , Hawaii, AFP, Wahikuli, Wailuku, Kula , Hawaii, Kula, Kihei, West Maui, Grace, Napili, Honokowai, Honolulu, Maalaea, Kahului, California, Las Vegas, Church, Lahaina Hongwanji, “ Despite California, Southern California, NHL’s Kings, Champaign , Illinois, Kansas, Illinois

☆ Bond rout keeps stocks under water, China woes give dollar a lift
▼ + stars: | 2023-08-18 | by ( Huw Jones | ) www.reuters.com time to read: +6 min

Crude oil was set to snap a seven-week winning streak as China's slowing economic growth clouded the picture for demand. Jason Da Silva, director, global investment strategy at Arbuthnot Latham, said stock markets were paying the price for bond yields soaring as economic data from the United States smash expectations, despite all the rate hikes so far. Euro zone government bond yields also eased on Friday as concerns about the global economy nudged investors into safe-haven government bonds and further signs emerged that euro zone inflation has peaked. The U.S. dollar recovered from an earlier dip and was standing tall near a two-month top at 103.42 against its major peers. Brent crude futures eased 0.5% to $83.67 and U.S. West Texas Intermediate crude futures were off 0.4% at $79.99.

Persons: Toby Melville, bitcoin, Thursday's, Jason Da Silva, Arbuthnot Latham, Da Silva, Jerome Powell, HSI, China Evergrande, Toby Chopra, Mark Potter Organizations: London Stock Exchange, REUTERS, Companies, Jackson, Global, Nasdaq, ING, Treasury, Federal Reserve, CHINA SHADOW, HK, Japan's Nikkei, Bank of, U.S, Brent, . West Texas, Thomson Locations: Canary Wharf, London, Britain, Japan, U.S, China, United States, Jackson Hole , Wyoming, CHINA, Asia, Pacific, Hong Kong, Beijing, Bank of Japan

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS/File Photo Acquire Licensing RightsCompanies United States of America FollowSINGAPORE, Aug 18 (Reuters) - Oil prices looked set to snap a seven-week winning streak on Friday as concerns about China's slowing economic growth and the possibility of more U.S. interest rate hikes outweighed signs of tightening supply. Investors fret that higher borrowing costs could impede economic growth and in turn reduce overall demand, including for oil. Data released this week also showed that U.S. crude oil inventories fell by nearly 6 million barrels last week on strong exports and refining run rates. Despite recent economic weaknesses, China made a rare draw on crude oil inventories in July, the first time in 33 months it has dipped into storage.

Persons: Brent, Sudarshan Varadhan, Shri Navaratnam, Jamie Freed Organizations: REUTERS, Companies United, U.S . West Texas, U.S, Federal, U.S . Labor Department, Organization of, Petroleum, ANZ Research, ANZ, Thomson Locations: Zhoushan, Zhejiang province, China, Companies United States, America, SINGAPORE, U.S

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. The U.S. Federal Reserve's focus on containing inflation amid stronger-than-expected economic data was keeping a lid on oil prices. That report followed similarly upbeat economic data earlier in the week, including U.S. retail sales, which all suggested the Fed may have to stick with higher rates for longer. Adding to the concerns, a recent batch of economic data from China, the world's second largest oil consumer, has highlighted the rapid loss in economic momentum there since the second quarter. However, China made a rare draw on crude oil inventories in July, the first time in 33 months it has dipped into storage.

Persons: Brent, Sudarshan, Shri Navaratnam Organizations: REUTERS, Rights, U.S . West Texas, U.S, Federal, U.S . Labor Department, Thomson Locations: Zhoushan, Zhejiang province, China

☆ An influencer who got paid to promote TV and movies is pivoting to music content and more UGC on TikTok and Snapchat to earn money as the Hollywood strikes continue
▼ + stars: | 2023-08-18 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

Creators who were paid to attend TV and movie premieres are trying to make money in other ways. One influencer is now posting sponsored content for music artists and festivals instead. He also said he wouldn't attend any other premieres or post TV or movie-related content until the strike was resolved. "It was at that point I decided it might just be better to completely shift away from that kind of content," Arujo said. Snap stories, TikTok challenges, and music festivals have been his new go-tosThe 19-year-old has shifted his content focus from TV and film to music amid the strikes.

☆ Saudi binge is fiscal free kick for European clubs
▼ + stars: | 2023-08-18 | by ( Streisand Neto | ) www.reuters.com time to read: +3 min

The Saudi binge may help European teams raise funds and meet tough new financial rules. The Roshn Saudi League is a top scorer in the football transfer market. UEFA, the governing body for European football, has introduced new rules limiting clubs’ spending on wages, transfers and agent fees to 70% of revenue. European clubs should take the money before the referee's whistle blows. Saudi clubs have spent over 550 million euros buying players from European clubs in the 2023/2024 transfer season, according to Transfermarkt.

Persons: Al Hilal's, Neymar, Fahd bin Saad Al, Neymar da Silva Santos Júnior, Germain, Rúben Neves, Prince Mohammed bin Salman, Len Blavatnik, China’s, Oscar, Marouane, Hilal, Cristiano Ronaldo, Karim Benzema, Neil Unmack, Thomas Shum, Pranav Kiran Organizations: Soccer, Al, Saudi Pro League, REUTERS Acquire, Reuters, Paris Saint, Saudi, Saudi Public Investment Fund, Britain’s Premier League, Premier League, Deloitte’s Sports Business, UEFA, Deloitte, Reuters Graphics Reuters, Bloomberg, BBC, Thomson Locations: Al Hilal, Paris, France, Saudi, Hilal, Saudi League, Al, Ittihad, Saudi Arabia, Riyadh, Kingdom, Saudi Arabian

Search resuls for: "Snap"

25 mentions found