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☆ Instant View: Here’s what experts think of India's surprise rate decision
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +16 min

The monetary policy committee (MPC) retained the key lending rate or the repo rate (INREPO=ECI) at 6.50% in a unanimous decision. With the likely softening of CPI to the low- to mid-5% levels in the coming month, the current repo rate of 6.5% implies that India’s real policy rate will hover around 1% during 2023-24, while maintaining a policy rate differential of about 1.5% with the US. Room for additional rate hikes has been retained with MPC’s policy stance continuing to remain unchanged at ‘withdrawal of accommodation’. We believe the bar for future rate hikes has increased, especially since near-term prints of CPI will be sub 6%. Scope for further hikes is limited given our growth-inflation outlook and impact of the past rate hikes on the same.

☆ Analysis: Rate rises pile pain on SME firms in U.S. and Europe
▼ + stars: | 2023-03-30 | by ( Chiara Elisei | ) www.reuters.com time to read: +6 min

Summary SME vulnerability to rate hikes gone under radarUS, European credit conditions tighteningUK SMEs especially vulnerable -analystsLONDON, March 30 (Reuters) - U.S. and European small and medium-sized (SME) firms may be next to feel the pain of rapid interest rate rises, with analysts and investors warily watching for the impact of tighter credit conditions exacerbated by recent banking turmoil. In the U.S. the average rate that small businesses pay on bank loans rose from around 5% to 7.6% in 2022, and is likely to hit about 9.5% by mid-year, Jefferies analysts estimate. British SMEs, hurt by weak growth, double digit inflation and rising Bank of England rates, are seen as particularly vulnerable. "The Government needs to demonstrate that it is on the side of small businesses who are feeling stressed and under huge margin pressure," McTague added. HARD TIMESMeanwhile the rate of small business loan approval at big U.S. banks meanwhile fell in February for nine straight months and business loan approvals at small banks has also fallen, said online financing platform for small businesses Biz2Credit.

☆ SBF played 'League of Legends' so much he was gaming during pitch meetings. Now his lawyers say there'll be no more online games for the crypto king.
▼ + stars: | 2023-03-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

He's said to have played it at a pitch meeting, and says he's been gaming while under house arrest. The conditions also say Bankman-Fried will be prohibited from accessing any video games or gaming hardware that "permit chat or voice communication." Bankman-Fried, who was arrested in the Bahamas in December, previously touted his penchant for the online game "League of Legends." "I'm (in)famous for playing League of Legends while on calls," Bankman-Fried tweeted. But Bankman-Fried isn't very good at playing "League of Legends," according to billionaire Elon Musk and Rep. Alexandria Ocasio-Cortez.

☆ Here's our March rapid-fire update on all 36 stocks in Jim Cramer's Investing Club portfolio
▼ + stars: | 2023-03-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +13 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. But importantly, the chipmaker has joined Apple in rarified air, becoming an "own it, don't trade it" stock for the Club. The company's business can withstand an economic slowdown and benefits from a weaker U.S. dollar because of its large international presence. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Big changes at the top of Nike as the company shakes up its technology, diversity, Asia, and women's departments
▼ + stars: | 2023-03-14 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

Amy MontagneNew job: Vice president and general manager of Nike's women's businessOld job: Vice president and general manager of Asia and Latin AmericaMontagne is an 18-year Nike veteran who previously worked for nine years for the Gap. Cathy SparksNew job: Vice president and general manager of Asia and Latin America (She succeeds Montagne.) Whitney MalkielNew job: Malkiel decided to leave the company, Nike said in a press release in early March. James LoducaNew job: Chief diversity, equity, and inclusion officerOld job: Vice president of inclusion, diversity, equity and accessibility, TwitterNike internally announced Loduca's appointment on Tuesday. Fusselman previously worked as a vice president of information security engineering for Mastercard, according to his LinkedIn profile.

One of the government officials directly involved in the matter said New Delhi is "not comfortable" with foreign trade settled in yuan but said settlement in "dirham is okay." The second official said that India cannot allow settlement in yuan till the relations between the two countries improve. The five officials did not say whether there were also economic reasons behind India's reluctance to accept yuan settlement. Two banking officials, aware of the matter, said the Reserve Bank of India (RBI) is not keen on foreign trade settlement in yuan, and confirmed that the government has discouraged them from using the currency. They also said Russia was keen on yuan settlement as it helps them in purchases of goods from China.

☆ Leaked Nike email reveals new tech leaders after the surprise exit of a top exec
▼ + stars: | 2023-03-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

In an email, COO Andy Campion said the company's digital transformation is "well underway." The announcement came roughly two weeks after the surprise resignation of Ratnakar Lavu, the company's global chief digital information officer. Arora, a roughly five-year Nike veteran, oversees the company's digital marketing efforts inside the company's global technology arm. In the email, Campion said the "co-leader" structure will "create day-to-day leadership leverage and speed in decision-making." But in recent months, Nike's technology workforce voiced widespread dissatisfaction, including in a blistering employee survey viewed by Insider.

[1/3] Sales representatives stand outside their kiosks inside a luxury residential project by Indian property developer DLF in Gurugram, India, February 28, 2023. Many people want to upgrade their homes after the COVID-19 pandemic confined them indoors, industry executives say. "I haven't seen such a mad rush in a decade," said Prashant Thakur, head of research at real estate consultant Anarock. Mercedes sold a record number of high-end cars in India last year and luxury goods are in high demand too. So far, around 160 people were invited for a viewing and 17 of 46 flats sold in the eight-storey project.

☆ Here's what makes cybersecurity giant Palo Alto Networks tick and why we like the stock so much
▼ + stars: | 2023-03-06 | by ( Zev Fima | ) www.cnbc.com time to read: +22 min

Palo Alto Networks (PANW) last month had its best single trading day in about a year, exactly one week after the next-generation cybersecurity company became our newest Investing Club holding. Why Palo Alto Networks? PANW YTD mountain Palo Alto Networks (PANW) 1-year performance Palo Alto Networks is a great way to play a secular growth industry. Taking all of these segments together, Palo Alto Networks is a company capable of delivering on every aspect of cybersecurity under one roof. Palo Alto Networks' ESG practices, meanwhile, are overseen by the ESG and Nominating Committee, which provides counsel to the board in these matters.

U.S. Secretary of State Antony Blinken told Russian Foreign Minister Sergei Lavrov to end the war and urged Moscow to reverse its suspension of the New START nuclear treaty, a senior U.S. official said. The Russian foreign ministry said Lavrov and Blinken spoke "on the move" for less than 10 minutes at the end of the closed-door session, and did not engage in any negotiations, Russian news agencies reported. Blinken later told a news conference he had told Lavrov to engage in diplomacy during the unscheduled encounter. [1/6] U.S Secretary of State Antony Blinken (top L) walks past Russian Foreign Minister Sergei Lavrov (lower) during the G20 foreign ministers' meeting in New Delhi on March 2, 2023. French Foreign Minister Catherine Colonna said the war in Ukraine had hurt "almost every country on the planet, in terms of food, energy, inflation".

[1/6] A man arranges the flags kept outside the venue for G20 foreign ministers’ meeting in New Delhi, India, March 2, 2023. The Russian foreign ministry said Lavrov and Blinken spoke "on the move" but did not hold negotiations or a meeting, Russian news agencies reported. News of the exchange came at the end of the day-long G20 meeting which, as expected, was overshadowed by the Ukraine war. "Unfortunately, this meeting has again been marred by Russia’s unprovoked and unjustified war against Ukraine," Blinken said. French Foreign Minister Catherine Colonna said the war in Ukraine had hurt "almost every country on the planet, in terms of food, energy, inflation".

[1/6] A man arranges the flags kept outside the venue for G20 foreign ministers’ meeting in New Delhi, India, March 2, 2023. European and U.S. delegates, in New Delhi for the foreign ministers' meeting, have however reiterated that they hold Russia responsible for the conflict, with Germany saying it would use the meeting to counter Russian "propaganda". "You are meeting at a time of deep global divisions," Modi said in a video message as the talks began. The foreign ministers' meeting comes days after a meeting of the G20 finance chiefs that was also dominated by war. The New Delhi meeting is being attended by 40 delegations, including those headed by Russian Foreign Minister Sergei Lavrov, U.S. Secretary of State Antony Blinken and Chinese Foreign Minister Qin Gang.

[1/5] A man walks past a model of G20 logo outside the finance ministry in New Delhi, India, March 1, 2023. Germany responded saying it would counter Russian "propaganda" at the G20 meeting. The foreign ministers meeting comes days after a meeting of finance chiefs of G20 countries in Bengaluru that was also overshadowed by Russia's war in Ukraine. An EU source separately said the EU delegation would not support a statement at the G20 meeting if it did not include condemnation of the war. The G20 includes the wealthy G7 nations as well as Russia, China, India, Brazil, Australia and Saudi Arabia, among other nations.

Here's an update on technology-related holdings in Jim Cramer's Charitable Trust, the portfolio we use at the CNBC Investing Club. Jim ran through the 35 stocks during the Club's inaugural Annual Meeting, an in-person event Saturday in New York City. Big picture, we think AMD shares will continue to increase in value as its leadership over Intel is further cemented. But sentiment is improving, with AMD shares climbing around 21% year to date. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ This cybersecurity stock could be one of the next under-the-radar A.I. plays, analysts say
▼ + stars: | 2023-02-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

But don't underestimate Palo Alto Networks as one of the next big AI plays, at least in the enterprise space, some analysts say. Analysts this week highlighted the cybersecurity provider and its central AI role on the heels of a strong earnings report and guidance lift that pushed shares up more than 12% during Wednesday's trading session. The drive for AI resources has overtaken Wall Street in recent weeks after the blowout launch of ChatGPT in late 2022. During an earnings call with analysts this week, CEO Nikesh Arora commented on Palo Alto Networks AI push, calling the software company one of the "best positioned" to utilize machine learning to enhance security. Along with a slew of cybersecurity and software names, Baird's Shrenik Kothari also named Palo Alto Networks a top AI pick , citing its use of machine learning to detect and respond to security threats.

☆ Why Josh Brown likes this high-beta cybersecurity stock
▼ + stars: | 2023-02-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Cybersecurity stocks got a lift on Wednesday, but for Ritholtz Wealth Management CEO Josh Brown there's one name that stands out: CrowdStrike. Shares rallied about 4% during afternoon trading on Wednesday after competitor Palo Alto Networks blew past earnings expectations after the bell Tuesday. Goldman Sachs recently initiated coverage of the stock with a buy rating, along with Check Point , Fortinet and Palo Alto Networks. It's now three years ahead of the profitability goals it laid out in 2021, Palo Alto Network's CEO Nikesh Arora said. Morgan Stanley believes Palo Alto Networks will keep moving higher after its earnings results.

☆ Palo Alto Networks' earnings blowout spotlights the Club's newest stock
▼ + stars: | 2023-02-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Shares of Palo Alto Networks climbed roughly 8% in afterhours trading, to over $180 apiece. The need for vendors to consolidate their security budgets into fewer players is another trend working in Palo Alto Networks' favor. This quarter marked Palo Alto Networks' third consecutive quarter of GAAP profitability. Outlook For Palo Alto Networks' fiscal year 2023, management raised its outlook across several different metrics. Arora Nikesh, Palo Alto Networks CEO & Chairman at the WEF in Davos, Switzerland on May 23rd, 2022.

☆ 'Three years ahead of our guidance.' Palo Alto Networks' CEO shows why the Club holding is soaring
▼ + stars: | 2023-02-21 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Arora's comments came as shares of Palo Alto Networks surged by more than 8% in extended trading Tuesday, to over $180 apiece. Palo Alto Networks on Tuesday raised elements of its full-year guidance that it first issued in November . Palo Alto Networks is the newest Club stock, joining our portfolio just under a week ago, on Feb. 15 . And Palo Alto Networks is delivering. Nikesh Arora, Chairman and CEO of Palo Alto Networks, speaking at the TEC Summit on October 29, 2019 in New York City.

☆ Palo Alto Networks lifts earnings guidance as it pursues profitable growth
▼ + stars: | 2023-02-21 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Here's how the company did:Earnings: $1.05 per share, adjusted, vs. 78 cents per share as expected by analysts, according to Refinitiv. $1.05 per share, adjusted, vs. 78 cents per share as expected by analysts, according to Refinitiv. The company called for fiscal third-quarter adjusted earnings of 90 cents to 94 cents per share on $1.695 billion to $1.725 billion in revenue. Analysts surveyed by Refinitiv had expected 78 cents in adjusted earnings per share on $1.74 billion in revenue. In November guidance was $3.37 to $3.44 in adjusted earnings per share.

☆ Palo Alto Networks sees strong year on solid demand for cybersecurity
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - Palo Alto Networks Inc (PANW.O) raised its full-year profit forecast on Tuesday as spending on cyber-security products stays strong in the face of a turbulent economy, sending the company's shares up about 5.5% in trading after the bell. A rise in cyberattacks and the growing digital presence of businesses and governments have ensured strong demand for software from cybersecurity companies such as Palo Alto Networks, even as rising interest rates and high inflation weigh on technology budgets. "We continue to see our teams execute well in the midst of macroeconomic challenges," said Nikesh Arora, chairman and chief executive officer of Palo Alto Networks. Excluding items, the company expects full-year net income per share in the range of $3.97 and $4.03, compared with its previous forecast of $3.37 and $3.44. The company maintained its earlier full-year revenue forecast of $6.85 billion to $6.91 billion.

China and other G20 countries were aware that India was working on a proposal, the officials said. "China takes the debt issue of developing countries seriously and supports relevant financial institutions to put forward solutions," he said. The People’s Bank of China and the Finance Ministry did not immediately respond to requests for comment. New Delhi expects the United States to be one of the main backers of its proposal, said one of the sources. India and the Paris Club of creditors recently told the IMF they supported Sri Lanka's debt restructuring plan as the bankrupt nation sought a $2.9 billion loan.

☆ India Budget 2023: Here's what the experts say
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +13 min

"This budget, therefore, has rewritten the rules for financilisation of savings in India, which will induce expenditures rather incentivise savings. LAKSHMI IYER, CEO-INVESTMENT ADVISORY, KOTAK INVESTMENT ADVISORS LTD"India budget 2023 has offered a multi-dimensional view. The 3 Cs which stand out are - Capex increase - consumption boost - capital gains tax status quo. Additionally, the budget has provided significant direct tax benefits to individuals which will help increase disposable income and support spending. The budget keeps in mind the needs of future India while focusing on Artificial Intelligence and machine learning.

☆ India's 2023/24 budget likely to be cautious, cutting deficit
▼ + stars: | 2023-01-25 | by ( Aftab Ahmed | ) www.reuters.com time to read: +4 min

The federal government is likely to cut its fiscal deficit to between 5.8% and 5.9% of GDP in 2023/24 from the 6.4% of 2022/23, other officials have said. The deficit will remain much larger than the 4% to 4.5% of GDP that was usual for decades. Reuters GraphicsThe international slowdown will hold down growth in nominal GDP - real growth plus inflation - to about 11% for 2023/24 from an estimated 15.4% for 2022/23. NUMBERS VS SPEECHModi's government in the past has used the budget document to lay out a broad economic vision and social agenda. The government is expected to borrow a record 16 trillion rupees in 2023/24, according to a Reuters poll.

☆ India's FY24 gross borrowing could be less than expected -economists
▼ + stars: | 2023-01-25 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

MUMBAI (Reuters) - India’s central government’s gross market borrowings for 2023/24 could come in below market expectations as a pool of securities raised to compensate states for a shortfall in goods and services tax may not be rolled over, a few economists said. The government’s gross borrowing is expected to be a record 16 trillion rupees (about $196 billion) for the fiscal year through March 2024, according to a Reuters poll of economists. Once we knock these off, the ‘true’ gross borrowing comes to 15.8 trillion rupees,” the economists estimated. India borrowed 1.1 trillion rupees and 1.59 trillion rupees in 2020-21 and 2021-22, respectively, to lend to states and compensate for a revenue shortfall from tax collections. After adjusting for the redemption of such bonds in 2022-23, IDFC First Bank expects gross borrowing of 15.50 trillion rupees.

☆ India's JSW Steel sees exports at more than 10% of 2022/23 sales
▼ + stars: | 2023-01-21 | by ( Neha Arora | ) www.reuters.com time to read: +2 min

JSW Steel expects to sell 22.6 million tonnes of steel in the 2022/23 fiscal year, Rao said, while production is seen at 23.6 million tonnes. Rao said steel demand from Europe was weak but local production cuts were "very severe", helping the company to boost exports. Rao also said there were concerns about the potential dumping of steel from China and Russia into the country. "The global economy is not doing well ... Everybody is looking for markets where they can sell. In 2021, JSW Steel raised $500 million from sustainability-linked bonds, which are linked to the issuer meeting certain environmental, social and governance goals.

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