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☆ U.S. professional skier named as one victim of Japan avalanche
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

Mandatory credit Kyodo via REUTERSTOKYO, Jan 30 (Reuters) - One of two foreign men swept up in an avalanche in Japan while back-country skiing in the central prefecture of Nagano and found without vital signs on Monday was U.S. professional skier Kyle Smaine, an outdoor magazine said. Police declined to confirm details about the men, whom media said were from Austria and the United States, but outdoor magazine "Mountain Gazette" said in its online edition that the U.S. skier was Kyle Smaine, 31. "It is with great sadness we report beloved South Lake Tahoe Professional Skier Kyle Smaine has died in an avalanche in Japan," the magazine wrote. Weather authorities had issued an avalanche warning for the area, following heavy snowfall in the past few days. Reporting by Mariko Katsumura; Editing by Bradley Perrett, Clarence Fernandez and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar cautiously firm ahead of busy central bank week
▼ + stars: | 2023-01-30 | by ( Rae Wee | ) www.reuters.com time to read: +2 min

SINGAPORE, Jan 30 (Reuters) - The dollar firmed on Monday and distanced itself from an eight-month trough ahead of a slew of central bank meetings this week, including the Federal Reserve's, with traders keenly focused on guidance for the path of interest rate rises. The U.S. dollar index , which measures the greenback against a basket of currencies, rose 0.03% to 101.92, edging away from last week's eight-month low of 101.50. Moves were subdued ahead of policy meetings from the Fed, the European Central Bank (ECB) and the Bank of England (BoE) later this week. "We will range trade a little bit as the market tries to assess how the central banks behave .... Elsewhere, the Aussie rose 0.11% to $0.71175, while the Japanese yen slipped marginally to 129.94 per dollar.

[1/2] A smartphone with the Stripe logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoJan 26 (Reuters) - Digital payments firm Stripe has hired Wall Street banks Goldman Sachs (GS.N) and JP Morgan (JPM.N) to explore a public listing and alternatives to allow employees to cash out stakes in the private company, two sources familiar with the matter told Reuters. Either possibility would address the problem that some employee share options are coming up for expiry but Stripe shares are not currently listed. Many companies backed by venture capital that would normally be regarded as mature enough for public listing have postponed such plans, hoping for higher valuations when the market recovers. The Wall Street Journal reported earlier on Thursday that Stripe had approached investors to raise at least $2 billion at a valuation of $55 billion to $60 billion.

☆ Dollar drops vs yen, near 9-month low to euro on central bank bets
▼ + stars: | 2023-01-27 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The dollar also sagged close to a nine-month low versus the euro, amid market expectations the European Central Bank next week will implement a rate hike twice as big as the Federal Reserve's. However, that was still well away from the 7-1/2-month trough of 127.215 reached last week as expectation built then for the central bank to tweak policy. When BOJ officials voted unanimously on Jan. 18 to keep stimulus settings unchanged, the currency pair bounced as high as 131.58. "If there are any bouts of yen weakness, I think the topside will continue to be capped by those expectations," Kadota said. For the week, the dollar is about flat against the yen, after swinging between gains and losses.

☆ Imane Ayissi adds African touch to Paris haute couture fashion week
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

[1/3] A model presents a creation by designer Imane Ayissi as part of his Haute Couture Spring/Summer 2023 collection show in Paris, France, January 26, 2023. REUTERS/Sarah Meyssonnier TPX IMAGES OF THE DAYPARIS, Jan 26 (Reuters) - Imane Ayissi wove African textiles into his haute couture collection shown in Paris on Thursday, mixing raffia-lined garments in bright colours with dresses coated in sequins or airy silk fringes. "This is a window to show techniques of African artisans," said Ayissi. The Cameroon-born designer, who is based in Paris, is currently featured in the Victoria & Albert Museum exhibit "Africa Fashion" in London. Haute couture fashion week in Paris, which wound up on Thursday, features some of the most prestigious fashion houses, including Christian Dior (DIOR.PA) and Chanel.

☆ Seven EU countries oppose new EU funding as response to U.S. subsidy plan - letter
▼ + stars: | 2023-01-27 | by ( Jan Strupczewski | ) www.reuters.com time to read: +3 min

BRUSSELS, Jan 27 (Reuters) - Plans by the European Commission to create new European Union funding for the green industry are facing mounting opposition in the 27-nation bloc, as seven EU countries openly rejected the idea in a letter to the EU executive. The letter, seen by Reuters and dated Jan. 26, was signed by the Czech Republic, Denmark, Finland, Austria, Ireland, Estonia and Slovakia and addressed to the European Commission vice president responsible for trade, Valdis Dombrovskis. All 10 countries say the EU should be using funds already approved instead of seeking more money. But in their letter, the seven countries said the EU should first spend the money it had already agreed to raise through the 800 billion euro post-pandemic recovery and resilience fund (RRF) of grants and cheap loans. "We have to ensure that the economy can better absorb the already agreed EU funding," the seven countries wrote.

OAKLAND, Calif/BANGALORE, Jan 27 (Reuters) - Microprocessor giant Intel Corp (INTC.O) has stumbled badly at a time when smaller rival AMD and others are picking up speed. Intel still dominates the markets for PC and server processing chips, with a market share greater than 70%, tech research firm IDC calculated. "I don't think Intel is in a position yet to start recovering share" in the market, he said. Customers of processors cannot launch products if new chip designs are late, and Intel has stumbled on delivering its latest data-center chip, code named Sapphire Rapids. Worse for Intel, the benchmarks published by the two companies show that AMD's latest server chip outperforms Sapphire Rapids on "general purpose workloads", according to Bernstein analyst Stacy Rasgon.

☆ U.S. Lawmakers press FAA chief on computer outage, nationwide ground stop
▼ + stars: | 2023-01-26 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

On Wednesday, the FAA told lawmakers it had revoked access to a pilot messaging database by contractor personnel involved in a file deletion that disrupted more than 11,000 flights on Jan. 11. FAA plans to respond by Friday to a detailed letter lawmakers sent earlier this month asking questions about the investigation, Larsen said. The FAA identified to lawmakers the contractor involved as Bethesda-based Spatial Front. "All personnel from Spatial Front directly involved in the deletion have lost access to FAA buildings and systems while we complete our investigation," the FAA email said. The FAA said the deletion had occurred while personnel were working "to correct synchronization between the live primary database and a backup database."

WILMINGTON, Del., Jan 25 (Reuters) - Shareholders can sue McDonald Corp's (MCD.N) former global chief people officer for the damage they claim he caused to the restaurant chain by allegedly allowing a culture of sexual harassment to flourish, according to a groundbreaking legal ruling. An attorney for shareholders declined to comment and McDonald's did not immediately respond to a request for comment. Shareholders are suing Fairhurst on behalf of McDonald's in what is known as a derivative lawsuit. Fairhurst became the global chief people officer soon after Stephen Easterbrook was named chief executive officer. Reporting by Tom Hals in Wilmington, Delaware; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

Total revenue rose 0.7% to $30.55 billion in the quarter. Cable revenue grew 1.4% to $16.64 billion, narrowly missing analysts' estimates of $16.67 billion. Comcast lost 440,000 video subscribers in the quarter, fewer than Factset's estimated loss of 548,000, as the trend of cable TV cord-cutting continued. The company also lost 26,000 broadband customers in the quarter, compared with Factset's estimated loss of 40,000 customers. NBCU advertising sales grew 4% to $2.86 billion, and theme parks revenue grew 12% to $2.11 billion.

This meant the U.S. dollar index , which measures the greenback against a basket of currencies, fell as low as 101.5, its lowest since the end of May. Markets expect policymakers at the Bank of England and European Central Bank (ECB), which also meet next week, to deliver 50 bps rate hikes. The Canadian dollar traded at 1.3387 per U.S. dollar, after the Bank of Canada on Wednesday raised its key interest rate to 4.5% but became the first major central bank fighting global inflation to say it would likely hold off on further increases for now. He said the pullback in Fed rate hike expectations following the BoC’s policy decision had triggered a US dollar sell-off alongside Canadian dollar weakness, which "highlights that the US dollar remains vulnerable to a further dovish repricing of Fed rate hike expectations." Reporting by Rae Wee and Alun John; Editing by Bradley Perrett and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Oil steady as market awaits more supply clarity
▼ + stars: | 2023-01-26 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

REUTERS/Todd Korol/File Photo/File PhotoSINGAPORE, Jan 26 (Reuters) - Oil prices were steady on Thursday after U.S. crude stocks climbed less than expected, while investors awaited further clarity on supply drivers, including an OPEC+ meeting and the looming EU ban on Russian refined products. "The upcoming EU embargo on Russian refined products remains a major source of concern for the market, with widespread dislocations expected to materialize," the Citi analysts said. Oil prices were also little changed after data showed a build in U.S. crude inventories that was less than expected. Crude inventories edged higher by 533,000 barrels to 448.5 million barrels in the week ending Jan. 20, the Energy Information Administration (EIA) said. That was substantially short of forecasts for a 1 million barrel rise, though according to the EIA crude stocks are at their highest since June 2021.

☆ Dollar wobbles near eight-month low ahead of c.bank meetings
▼ + stars: | 2023-01-26 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 26 (Reuters) - The dollar held close to an eight-month low against its peers on Thursday, as a gloomy U.S. corporate earnings season stoked recession fears and as traders stayed on guard ahead of a slew of central bank meetings next week. Trading was thin, with Australia out for a holiday and some parts of Asia still away for the Lunar New Year. "There are now signs the U.S. economy may be slowing in a more meaningful manner," said economists at Wells Fargo. Ahead of that, the Commerce Department is due to release advance estimates of U.S. fourth-quarter gross domestic product later on Thursday. Meanwhile, markets expect policymakers at the Bank of England and European Central Bank (ECB), which will also meet next week, to deliver 50 bps rate hikes.

☆ Morning Bid: Heading for a soft landing?
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

Things are not as bad as some had feared, with the region's prospects boosted by China's reopening, an unexpectedly mild winter and resilient activity data. These hopes have lifted the pan-European STOXX 600 index (.STOXX), which is up 6.4% for the month and is set for its best January performance since 2015. Investors' focus is on next week's set of central bank meetings as the U.S. Federal Reserve, European Central Bank and Bank of England decide on their rate-hike paths. Share price performance, earnings and sales for TeslaKey developments that could influence markets on Thursday:Economic events: Sweden's consumer confidence data for January, U.S. GDP data. Earnings: LVMH, Nokia, STMicroelectronics, Diageo and Volvo in Europe; Blackstone, Mastercard, Southwest Airlines, Intel, and Visa among others in United States.

☆ Oil edges up as U.S. crude inventories rise less than expected
▼ + stars: | 2023-01-26 | by ( Laila Kearney | ) www.reuters.com time to read: +1 min

REUTERS/Todd Korol/File Photo/File PhotoSummarySummary Companies EIA shows U.S. crude stocks up less than expectedU.S. dollar easesGlobal 2023 economic view downgraded, at odds with marketJan 26 (Reuters) - Oil prices were up in early Asian trade on Thursday as U.S. crude stocks rose less than expected, while a weaker dollar made oil cheaper for non-American buyers. Brent crude futures had risen 12 cents to $86.24 per barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 30 cents to $80.45. Crude inventories rose by 533,000 barrels to 448.5 million barrels in the week ending Jan. 20, the Energy Information Administration (EIA) said. Despite the smaller-than-expected crude build, crude stocks reached the highest level since June 2021, the EIA said. read moreA factor that kept oil from moving higher was concern about a slowing global economy hampering fuel demand.

☆ Dollar near eight-month low ahead of c.bank meetings
▼ + stars: | 2023-01-26 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 26 (Reuters) - The dollar lolled near an eight-month low against its peers on Thursday, as a gloomy U.S. corporate earnings season stoked recession fears and as traders stayed on guard ahead of a slew of central bank meetings next week. The U.S. dollar index , which measures the greenback against a basket of currencies, last stood at 101.53, languishing near last week's eight-month trough of 101.51. "There are now signs the U.S. economy may be slowing in a more meaningful manner," said economists at Wells Fargo. "With the Fed no longer leading the charge on interest rate hikes and U.S. economic trends set to worsen, we now believe the U.S. dollar has entered a period of cyclical depreciation against most foreign currencies." Markets expect policymakers at the Bank of England and European Central Bank (ECB), who will also meet next week, to deliver 50 bp rate hikes.

Playing down the economic slowdown as part of a global trend, Finance Minister Choo Kyung-ho pledged prompt support measures for exporters, such as tax breaks and administrative help. Central bank estimates showed gross domestic product (GDP) shrank 0.4% in the October-December period from the previous quarter. Markets showed a muted reaction to the data, which was largely in line with repeated warnings in recent weeks by the government and central bank. The central bank estimated that in 2022 the full-year value of the economy, Asia's fourth-largest, had been 2.6% larger than in 2021, when it showed growth of 4.1%. Reporting by Jihoon Lee and Choonsik Yoo; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

It followed a 3.9% rise in December and stayed above the central bank's 2% target for an eighth straight month, data showed on Friday. "These readings point squarely at a further, large increase in inflation at the national level this month," said Darren Tay, Japan economist at Capital Economics. Government measures to lower energy bills will kick in next month and bring inflation down by about 1% point," he said. The BOJ kept monetary policy ultra-loose this month but raised its inflation forecasts in fresh quarterly projections, as companies continued to pass on higher raw material costs to households. Kuroda, whose term will end in April, has stressed the need to keep monetary policy ultra-loose until wages rise more, changing the recent cost-push inflation into inflation driven by robust domestic demand.

☆ South Korea Q4 GDP shrinks 0.4% q/q, worse than expected
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Jan 26 (Reuters) - South Korea's economy contracted in the final quarter of 2022 for the first time in 2-1/2 years, as a post-pandemic spending spree faded and global trade tumbled, central bank estimates showed on Thursday. Gross domestic product (GDP) shrank 0.4% in the October-December period from the previous quarter, the Bank of Korea estimated, after a 0.3% gain in the July-September quarter. South Korea's economy last contracted in the second quarter of 2020. Fourth-quarter 2022 GDP was 1.4% higher than a year earlier, compared with a 3.1% annual gain seen in the third quarter and the 1.5% forecast in the poll. Reporting by Jihoon Lee and Choonsik Yoo; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Tesla plans $3.6 bln Nevada expansion to make Semi truck, battery cells
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

The cell plant would be able to make enough batteries for 2 million light-duty vehicles annually, including batteries using the 4680-type cell. The 4680 is key to Tesla meeting a goal of halving battery costs and ramping up battery production nearly 100-fold by 2030. Panasonic currently supplies cells to the gigafactory, and Tesla assembles them into battery packs there. Tesla has struggled to ramp up production of the 4680 at its factories in Fremont, California, and Austin, Texas. The EV maker aimed to produce 50,000 Semis in 2024, Musk said on a post-earnings call in October.

☆ SEC readies Wall Street 'conflicts' rule, a decade after first try
▼ + stars: | 2023-01-25 | by ( Douglas Gillison | ) www.reuters.com time to read: +3 min

An earlier version of the conflicts rule first proposed in 2011 was never finalized. When made effective with an SEC rule, the section would prohibit traders from betting against asset-backed securities they sold to investors. According to SEC officials, the rule would ban such actions for up to a year following sale of the securities. According to SEC officials, traders who disclosed bets contrary to clients' investments would still run foul of the rule. Without citing prominent recent examples of such conflicts of interest in the asset-backed securities market, SEC officials said the conflicts rule was needed to remove the opportunity and incentive for such conduct.

☆ Russia's war on Ukraine latest: Russian forces said to make progress in Bakhmut
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] Protesters gather in support of Ukraine during a meeting of European Union (EU) Foreign Ministers in Brussels, Belgium January 23, 2023. ARMAMENTS* The United States and Germany are poised to boost Ukraine's war effort with the delivery of heavy tanks, sources said, support that Russia condemned as a "blatant provocation". * The United States is poised to start a process that would eventually send dozens of M1 Abrams battle tanks to Ukraine, two U.S. officials told Reuters. * Norway is considering whether to send some of its German-made Leopard 2 tanks to Ukraine, Oslo-based newspapers Aftenposten and Dagens Naeringsliv reported. * A delivery of tanks by the United States to Ukraine would be a "another blatant provocation" against Russia, Anatoly Antonov, Russia's ambassador, said.

☆ Oil mixed as investors weigh China demand and U.S. outlook
▼ + stars: | 2023-01-24 | by ( Mohi Narayan | ) www.reuters.com time to read: +3 min

Jan 24 (Reuters) - Crude oil prices edged higher in Asian trade on Tuesday amid hopes of a fuel demand recovery from top importer China, although concerns about a slowdown in the U.S. economy capped gains. Brent crude was down 5 cents to $88.14 per barrel by 0436 GMT after rising to a session high of $88.36. Commodities like crude oil, refined petroleum products, LNG, and soybeans are set to benefit from China's demand tailwind, analysts at Goldman Sachs said. "Besides, the greenback hovering around a multi-month low is buttressing oil prices," independent oil market expert Sugandha Sachdeva said. This week traders are watching for more business data that could indicate the health of global economies during an earnings reporting season.

☆ Suntory CEO expects next BOJ governor to show clear policy roadmap
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

The BOJ stuck to its ultra-easy policy at a two-day policy meeting that ended on Jan. 16, defying investors who had bet on it ceasing to defend a cap on the 10-year government bond yield. The cap is part of a policy called yield curve control (YCC). But Niinami said expectations were growing that the BOJ would sooner or later end its expansionist experiment. "The ultra-easy policy can't be kept forever, given current (economic) conditions. Niinami also said economic growth led by the private sector would be needed to help prevent Japan's financial health worsening further.

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