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☆ 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.

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

☆ 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

☆ Biden’s Camp David Summit Is a Pivotal Moment for Asian Security - The New York Times
▼ + stars: | 2023-08-17 | by ( Daniel Russel | ) www.nytimes.com time to read: +3 min

By choosing to hold the summit at Camp David, Mr. Biden has signaled that he understands the gravity of the moment. The good news for Mr. Biden is that the relationship between Tokyo and Seoul is improving. As President Barack Obama’s special assistant and later assistant secretary of state for East Asia, I saw firsthand the disruptive effects of friction between Japan and South Korea. China and North Korea have proven themselves adept at exploiting such differences. North Korea has in the past dangled the possible return of Japanese citizens said to have been abducted by Pyongyang decades ago, partly in an effort to curry favor with Tokyo and get it to ease some sanctions imposed on North Korea.

Persons: Camp David, Mr, Biden, David, Yoon, Kishida, Barack Obama’s Organizations: David Accords, South Koreans, Korean, U.S Locations: Camp, Washington, Israel, Egypt, Tokyo, Seoul, Japan, China, East Asia, South Korea, North Korea, American, Korea, Pyongyang, Beijing, Okinawa

☆ Spanish Socialists' candidate elected speaker with support of Catalan groups
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +4 min

Francina Armengol was appointed speaker after winning 178 votes in the 350-seat parliament. The candidate of the conservative People's Party (PP) won just 137 votes, while far-right Vox, which is in coalition with the PP in several Spanish regions, voted for its own candidate, Ignacio Gil instead of the PP's. Her candidacy for the speakership was seen as a nod to Catalan, Basque and Galician parties. CONCESSIONS TO SEPARATISTSERC leader Gabriel Rufian told a news conference that while the party had supported the Socialists' candidate for congressional speaker, that did not imply support for the formation of a Sanchez government. More hardline separatist party Junts also struck a deal in principle to back Armengol, according to state broadcaster TVE.

Persons: Pedro Sanchez's, Francina Armengol, Ignacio Gil, Alberto Nunez Feijoo, Sumar, Esquerra Republicana, Armengol, Gabriel Rufian, Junts, Sanchez, Carles Puigdemont, Inti Landauro, Charlie Devereux, Andrei Khalip, Angus MacSwan, Aislinn Laing, Hugh Lawson Organizations: Spanish Socialist Workers ' Party, PSOE, Spain's Socialists, People's Party, Socialists, Vox, Catalonian, ERC, TVE, Thomson Locations: Madrid, MADRID, Catalan, Spain, Catalonia, Balearic, Basque, Galician, Belgium

☆ Hurricane Hilary rapidly intensifying, could bring significant flooding to Southern California, Southwest
▼ + stars: | 2023-08-17 | by ( Mary Gilbert | ) edition.cnn.com time to read: +5 min

CNN —Hurricane Hilary is rapidly intensifying in the Pacific Ocean southwest of Mexico on Thursday and is on track to deliver potentially significant rain and flooding to parts of the Southwest as a weaker system starting this weekend. One of those places is Death Valley, California, the hottest place on Earth. The combination of rainfall and increased cloud cover across the Southwest is expected to bring a significant cooldown over the weekend. The most recent was an unnamed tropical storm in 1939, NOAA records show. 1997’s Nora was the last and only other tropical storm to maintain its status after crossing into California.

Persons: Hilary, Daniel Swain, San Diego Hurricane, —, Nora Organizations: CNN, National Hurricane Center, University of California, US Drought Monitor, National Oceanic, Atmospheric Administration, NOAA, San Diego Locations: Mexico, Cabo San Lucas, Peninsula, California, Southern California, Nevada, Arizona, Central California, Los Angeles, Death Valley , California, Death, floodwater, New Mexico, Phoenix

☆ Vanuatu opposition boycott parliament after failed bid to remove prime minister
▼ + stars: | 2023-08-17 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

REUTERS/Eduardo Munoz/file photo Acquire Licensing RightsSYDNEY, Aug 17 (Reuters) - Vanuatu's opposition party boycotted parliament on Thursday and said it would lodge a court challenge to the defeat the previous day of its bid to remove Prime Minister Ishmael Kalsakau. Loughman drew Vanuatu closer to China as the previous prime minister, before losing a snap election in 2022. Wednesday's no-confidence motion won 26 votes, compared with 23 votes against, but failed to win the absolute majority of 27 needed to remove a prime minister in the 52-seat parliament. Opposition lawmakers boycotted parliament on Thursday and the speaker adjourned the session, saying the chamber could not sit with only 25 members. Kalsakau told broadcaster VBTC the constitution required an absolute majority to change prime minister.

Persons: Alatoi Ishmael Kalsakau, Eduardo Munoz, Ishmael Kalsakau, Kalsakau, Bob Loughman, Loughman, Wednesday's, Kirsty Needham, Robert Birsel Organizations: United Nations Headquarters, REUTERS, Rights, Vanuatu, Thomson Locations: Vanuatu, New York City, U.S, Australia, China, Pacific, United States, Solomon Islands

☆ NYC bans TikTok on government devices
▼ + stars: | 2023-08-17 | by ( Lauren Feiner | ) www.cnbc.com time to read: +1 min

New York City banned TikTok on government-owned devices on Wednesday, pointing to security concerns that have made the app a target of bipartisan scrutiny across the country. Congress already voted to ban TikTok on federal devices last year and several states have taken similar steps. City agencies have 30 days to remove the app from government-owned devices. Still, broader action against TikTok beyond government-owned devices has remained elusive. TikTok did not immediately respond to CNBC's request for comment on the NYC ban.

Persons: Eric Adams, TikTok Organizations: U.S . Conference, Mayors, Washington , D.C, New York City, NYC City Hall, WNBC, ., CNBC, YouTube Locations: New York, Washington ,, China

☆ Snapchat users react with confusion after the app's AI chatbot mysteriously posts its own story and then refuses to answer questions about it
▼ + stars: | 2023-08-17 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Snapchat's My AI posted its own story and was not responding to messages, according to users. Snap told Insider that the AI chatbot had experienced an outage that had since been fixed. Exactly what the AI's story showed wasn't clear, and the impacted Snapchat users quickly took to other social media platforms to post about being confused and slightly frightened. "Hello I confronted Snapchat AI now she's not replying what is thisssss," the user posted in all caps. "Someone tell me why tf my Snapchat ai is posting Snapchat stories lmaooo," another Snapchat user posted to X.

Persons: Snapchat's, chatbot, Brian Long, Long, Snapchat

☆ Snap is ending employees' cash food benefit, citing 'on-site' meals ahead of full RTO mandate
▼ + stars: | 2023-08-17 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

That benefit is disappearing as Snap wants to get people in the office at least four days a week. Instead of the food benefit, workers have been told to "explore" on-site lunch offerings. Snap is ending a benefit for employees to buy food during the work week. It also afforded Snap employees who worked in other offices that did not offer catered food some parity on a company perk they'd never had access to. Snap was one of the first tech companies, after Apple, to reveal to employees such a strict RTO policy .

Persons: they'd, It's, RTO, Elon Musk's, Kali Hays Organizations: Santa, Apple, Meta, Facebook, Twitter Locations: Santa Monica, khays

☆ As gas prices hit 10-month highs, Citi warns major hurricanes could ‘massively’ disrupt supplies
▼ + stars: | 2023-08-17 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Oil prices could still fallFor consumers, the good news is that, outside of the risk of a bad hurricane season, Citi is bearish on oil prices. The Wall Street bank’s baseline forecast is that oil prices will drop in the coming months, a scenario that would cool gas prices. “It’s something we certainly keep a close eye on,” a White House official told CNN earlier this week. As recently as Memorial Day and July 4th, consumers were saving big on gas prices when measured against the same point last year. “Energy markets are volatile and gas prices can fluctuate,” the White House official told CNN.

Persons: Hilary, Joe Biden’s, “, CNN’s Erin Burnett, Janet Yellen, heatwaves Organizations: CNN, AAA, That’s, Citigroup, National Hurricane Center, Coast, Citi, White, “ Energy, White House Locations: Russia, Saudi Arabia, Gulf of Mexico, Mexico, California, Washington, Colorado , Arizona, Illinois, AAA . Indiana , Pennsylvania, New York

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsAug 17 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian market sentiment on Thursday will again be a mix of caution and nervousness, with familiar roots: a supercharged dollar and rising U.S. bond yields, tightening financial conditions, and deepening concern over China. Goldman Sachs's financial conditions indexes show that Chinese and aggregate emerging market financial conditions have tightened sharply this month, by more than 100 basis points, and are both now the tightest this year. But the pressure on Beijing to do more to support the creaking economy can be seen in the 10-year yield's slide to its lowest since May 2020. Remarkably, China's 10-year yield is now 170 basis points below the 10-year U.S. Treasury yield, the widest gap since 2007.

Persons: Dado Ruvic, Jamie McGeever, Goldman, Brent, Josie Kao Organizations: REUTERS, People's Bank of, Treasury, Thomson, Reuters Locations: China, U.S, Asia, Hong Kong, Philippines, Tokyo, People's Bank of China, Beijing, Japan, Australia

☆ MLB roundup: Bryce Elder, Braves blank Yanks
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +9 min

[1/4] Aug 15, 2023; Cumberland, Georgia, USA; Atlanta Braves starting pitcher Bryce Elder (55) pitches against the New York Yankees during the first inning at Truist Park. The losing pitcher was Luis Severino (2-8), who worked four innings and allowed all five runs (three earned) on five hits. Philadelphia starter Zack Wheeler allowed one run on three hits in seven innings. Spenser Watkins (0-1) lost in his A's debut, allowing five runs on seven hits in 4 1/3 innings. Orioles starter Jack Flaherty (8-8), formerly Wacha's teammate with the Cardinals, gave up seven runs in three innings.

Persons: Bryce Elder, Dale Zanine, Marcell Ozuna, Ronald Acuna Jr, DJ LeMahieu, Luis Severino, Christian Walker, Tommy Pham, Geraldo Perdomo, Lourdes Gurriel Jr, Nick Ahmed, Kevin Ginkel, Paul Sewald, Brenton Doyle, Nolan Jones, Elehuris Montero, Ty France, Teoscar Hernandez, Eugenio Suarez, Josh Rojas, Bobby Witt Jr, Martinez, Enrique Hernandez, Bobby Miller, Carlos Santana, Adrian Houser, Jack Suwinski, Conner Joe, Ke'Bryan Hayes, Brandon Nimmo, Jakob Junis, Sean Manaea, Thairo Estrada, Wilmer Flores, San Francisco, Tyler Rogers, Luke Jackson, Zack Littell, Cavan Biggio, Seranthony Dominguez, Yusei Kikuchi, Zack Wheeler, Kyle Tucker, Jose Altuve, Tucker, A.J, Chas McCormick, Yainer Diaz, Alex Verdugo, Triston Casas, John Schreiber, Kenley Jansen, Keibert Ruiz, Stone Garrett, Josiah Gray, Nolan Arenado, Louis, Jordan Walker, Tommy Edman, Dakota Hudson, Lawrence Butler, Spenser Watkins, Logan Allen, Jose Ramirez, Tim Anderson, Allen, Matt Wallner, Dylan Floro, Jhoan Duran, Miguel Cabrera, Spencer Torkelson, Matt Vierling, Corey Seager, Seager, Nathaniel Lowe, Ezequiel Duran, Jordan Montgomery, Luis Robert Jr, Tanner Banks, Lane Ramsey, Aaron Bummer, Gregory Santos, Ramsey, Elvis Andrus, Ian Happ, Seiya Suzuki, Julian Merryweather, Gary Sanchez, Diego's, Michael Wacha, Jack Flaherty, Austin Hays Organizations: Atlanta Braves, New York Yankees, Diamondbacks, Rockies, Arizona, Colorado, The Diamondbacks, Mariners, Royals, Seattle, Kansas City, Dodgers, Brewers, Milwaukee, National League West, NL Central, Pirates, Mets, Pittsburgh, New York, The Pirates, Giants, Rays, San, Tampa Bay, Blue Jays, Phillies, Cavan, Toronto, Philadelphia, Astros, Marlins, Miami, Houston, Red Sox, Nationals, Boston, Washington . Five Red Sox, Washington, Cardinals, Athletics, Oakland, Reds, Cleveland, Cincinnati, Chicago White Sox, Tigers, Twins, Rangers, Angels, Louis Cardinals, White Sox, Cubs, Chicago Cubs, Padres, Orioles, Baltimore, Thomson Locations: Cumberland , Georgia, USA, Truist, Atlanta, York, Denver, Colorado, France, Angeles, New, Manaea, Houston, Minnesota, Detroit, Minneapolis, Texas, Los Angeles, Arlington , Texas, Baltimore

☆ Vanuatu prime minister to face no confidence vote in parliament
▼ + stars: | 2023-08-16 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsSYDNEY, Aug 16 (Reuters) - Vanuatu Prime Minister Ishmael Kalsakau faces a no-confidence vote in parliament on Wednesday, after the opposition accused his government of abandoning a non-aligned foreign policy by signing a security pact with Australia. The petition, lodged a fortnight ago, was signed by 29 lawmakers, enough to topple the prime minister. Loughman drew Vanuatu closer to China as the previous prime minister. Kalsakau has said the constitution requires an absolute majority for the removal of a prime minister. Kalsakau has reshuffled his cabinet in an effort to win support ahead of the vote, with the new deputy prime minister making a show of support for China.

Persons: Alatoi Ishmael Kalsakau, Eduardo Munoz, Ishmael Kalsakau, Bob Loughman, Loughman, Kalsakau, Matai Seremaiah, Samson Samsen, Kirsty Needham, Miral Organizations: United Nations Headquarters, REUTERS, Rights, Vanuatu, Trade, Thomson Locations: Vanuatu, New York City, U.S, Australia, China, United States, Beijing, Solomon Islands

☆ Ecuador election: political violence and insecurity loom large as Ecuadorians get ready to vote
▼ + stars: | 2023-08-15 | by ( Rafael Romo | ) edition.cnn.com time to read: +7 min

It has also brought international attention to the powerful criminal organizations driving the violence that has plagued Ecuador. “By the very fact that we’re not controlling our borders, we’re getting an influx of money that is literally corrupting the country,” Topic added. Topic told CNN that while he admires Bukele, he would be more careful when it comes to respecting human rights. Andrea González Náder – who was Villavicencio’s running mate – told CNN that the fight against criminal gangs and corruption was Villavicencio’s main objective when he was alive. Those aims have not changed, she told CNN from a secret location in Ecuador, which police asked CNN not to reveal for her protection.

Persons: Ecuador CNN — Gissella Cecibel Molina doesn’t, Fernando Villavicencio, Fernando, ” Molina, ‘ Fernando Villavicencio, ’, ”, Molina, “, Villavicencio, Juan Zapata, Fernando Villavicencio's assasination, Karen Toro, Pedro Briones, Agustin Intriago, Walker Vera, Pity Guzman, Rodrigo Buendia, Bukele, doesn’t, Andrea González Náder –, –, Martin Bernetti, Luisa González, Rafael Correa, “ I’ve, Gustavo Petro Organizations: Ecuador CNN, National Assembly, CNN, “, Reuters, Manta, Ecuadorian National Police, United Nations Office, Drug, Getty, French Foreign Legion, Electoral Council, Citizen Revolution Movement, European, Colombian, Zetas Locations: Quito, Ecuador, Ecuador’s, “, Esmeraldas province, Muisne, South America, United States, Europe, Colombia, Mexico, Balkans, AFP, Ecuadorian, European Union

☆ Yen breaches 145 mark against the dollar, prompting expectations of BOJ intervention
▼ + stars: | 2023-08-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Japanese yen and U.S. dollar banknotes are arranged for a photograph in Tokyo, Japan. Tomohiro Ohsumi | Bloomberg | Getty ImagesThe Japanese yen breached the 145 mark against the dollar on Monday, the first time since November 2022. Stock Chart Icon Stock chart iconIn a forex snap note on Monday, HSBC said it expects the Japanese Ministry of Finance to "start pushing back in the 145-148 range." The Japanese government and the BOJ stepped in to buy the yen at 145 to the dollar in September 2022. Stock Chart Icon Stock chart iconThe U.S. dollar has also been on an uptrend since end July, with the dollar index climbing from a low of 99.77 on July 13 to its current level of 102.99.

Persons: Ohsumi Organizations: U.S, The U.S, Federal, Bloomberg, Getty, Bank of Japan, HSBC, Ministry of Finance, U.S ., Treasury Locations: Tokyo, Japan, The

☆ More than 20 million Americans enrolled in a federal program for subsidized internet access
▼ + stars: | 2023-08-14 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —More than 20 million US households are now receiving discounts on internet service as part of a federal program created to close the digital divide, according to the Federal Communications Commission. Recipients living on tribal lands can receive even more, up to $75 per month to help cover internet access costs. Then, this February, Vice President Kamala Harris announced the figure had grown to more than 16 million households saving a total of $500 million a month on internet service. The program has continued to gain more than half a million new households a month since then. The ACP isn’t the only way the US government has recently moved to expand internet access.

Persons: Washington CNN —, Kamala Harris, ”, Jessica Rosenworcel Organizations: Washington CNN, Federal Communications Commission, Program, SNAP, Pell, FCC, ACP, Commerce Department, Broadband Equity Locations: United States

☆ The digital ad market is showing signs of stabilization. How the pros are playing it
▼ + stars: | 2023-08-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

The signs of stabilization are perhaps most evident through recent better-than-feared earnings from behemoths like Alphabet and Meta Platforms as they focus on cost cuts and efficiency after 2022's rout. Meta Platforms said ad revenue rose about 12% last quarter from the prior year. Buying the '800-pound gorilla' It's hard to ignore Alphabet or Meta Platforms when investing in the advertising industry. On the digital side, Hanna Howard, a research analyst at GAMCO Investors, opts for Meta Platforms. Amazon posted a 22% increase in online advertising revenue year over year, and $10.68 billion in sales overall.

Persons: Susan Li, Rohit Kulkarni, Gene Munster, Paul Meeks, Meeks, Morningstar's Ali Mogharabi, Hanna Howard Organizations: Apple, Google, Roth Capital Partners, Street, Meta, Intelligence, Amazon, Independent Solutions Wealth Management, GAMCO Investors, Munster, Web Services

☆ From Elon Musk to Chinese tech titans, everyone wants Nvidia's GPU chips. There might not be enough to go around.
▼ + stars: | 2023-08-12 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Elon Musk has loaded up on Nvidia GPUs for X, xAI, and Tesla. Meanwhile, Chinese tech titans are reportedly scrambling to buy $5 billion worth of the chips. But there are signs emerging that there may not be enough of Nvidia's chips to go around, with multiple top executives warning that demand is massively outpacing supply. Soaring demandThe massive increase in interest in artificial intelligence has been a key factor driving demand for Nvidia's semiconductors. Perhaps the strongest sign that demand for Nvidia's chips is soaring came in May, when it released stellar second-quarter revenue forecasts that smashed Wall Street's expectations by 50%.

Persons: Elon Musk, Biden, Tesla, Adam Selipsky, Matthew Prince, there's, Barron's Organizations: Nvidia, titans, Service, Soaring, New, Research, Financial Times, Elon, Twitter, Web Locations: Wall, Silicon

☆ Bills' Damar Hamlin plays in first game since January cardiac arrest
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +1 min

Aug 12, 2023; Orchard Park, New York, USA; Buffalo Bills safety Damar Hamlin (3) tackles Indianapolis Colts running back Deon Jackson (35) running with the ball during the first half at Highmark Stadium. Mandatory Credit: Gregory Fisher-USA TODAY SportsAug 12 (Reuters) - Damar Hamlin competed in the Buffalo Bills' preseason opener on Saturday, marking the safety's first taste of competitive action since he suffered a cardiac arrest during an NFL game in early January. On his second defensive snap, Hamlin was credited with a solo tackle of running back Evan Hull for no gain, denying the Colts from converting a fourth-and-one at the Bill's 40-yard line. The 25-year-old Hamlin then made tackles on two consecutive plays during the Bills' next defensive series. He was discharged from hospital nine days after his cardiac arrest, and his remarkable recovery captivated the sporting world.

Persons: Damar Hamlin, Deon Jackson, Gregory Fisher, Hamlin, Evan Hull, Frank Pingue, Hugh Lawson Organizations: Buffalo Bills, Indianapolis Colts, USA, NFL, Buffalo, Colts, Bills, Cincinnati Bengals, Thomson Locations: Orchard, , New York, USA, Toronto

☆ In Ecuador, party of slain presidential candidate picks replacement
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Karen ToroQUITO, Aug 12 (Reuters) - The political party of Ecuador's assassinated presidential hopeful, Fernando Villavicencio, picked his would-be vice presidential candidate to replace him as the party standard-bearer on Saturday, just a week before the election. Villavicencio's Build party, or Construye in Spanish, announced on social media it had tapped Andrea Gonzalez to replace the slain 59-year-old as its presidential candidate in the Aug. 20 vote. She had been selected by Villavicencio to be his running made in the snap election called by outgoing President Guillermo Lasso. Villavicencio had been polling around the middle of the pack in a field of eight candidates prior to his assassination. Reporting by Alexandra Valencia; Writing by David Alire Garcia; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrea Gonzalez, Fernando Villavicencio, Karen Toro QUITO, Ecuador's, Gonzalez, Villavicencio, Guillermo Lasso, Alexandra Valencia, David Alire Garcia, Sandra Maler Organizations: REUTERS, Villavicencio's, The, Thomson Locations: Quito, Ecuador, Spanish

☆ Dollar steady after CPI data bolsters Fed pause bets; yen nears 145
▼ + stars: | 2023-08-11 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. "Market pricing currently favours a pause, but the market has underpriced the Fed’s actions before," Brandham cautioned. The Australian dollar rose 0.20% to $0.6534.

Persons: Florence Lo, Ryan Brandham, Brandham, Philip Lowe, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: U.S, REUTERS, Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia, Thomson Locations: SINGAPORE, Japan, U.S, Singapore

☆ Dollar steady after CPI data bolsters Fed pause bets, yen nears 145
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen and U.S. 100 dollar banknotes are arranged for a photograph in Tokyo, Japan, on Sept. 7, 2017. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. The Australian dollar rose 0.20% to $0.6534. Sterling was last at $1.2684, up 0.07% on the day, looking to snap its three-day losing streak ahead of GDP data.

Persons: Ryan Brandham, Brandham, Philip Lowe, Sterling Organizations: Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia Locations: Tokyo, Japan, U.S

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