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"We engaged in intense production adjustment in the fourth quarter," Kim Sung-hyun, CFO of LG Display said in an earnings call. It flagged investments of only about 3 trillion won this year, compared to 5.2 trillion won in 2022, and said it will conservatively maintain existing production. Shares in LG Display reversed early losses, jumping 4.1% in afternoon trade versus a 1% rise in the wider market (.KS11). It missed an average forecast of a 797 billion won loss from 10 analysts polled by Refinitiv SmartEstimate, weighted toward analysts that are more consistently accurate. A continuous decline in mid-sized panel prices and efforts to control inventory and reduce factory operations caused the loss, LG Display said.

Since the pandemic, Diageo has benefited from people splurging on more expensive types of alcohol while staying home under lockdown. But Diageo's North America business, which accounts for nearly 30% of overall sales, reported organic sales growth of 3% in the six months ended Dec. 31 versus analyst estimates of over 6%. The company said it expected North American organic net sales growth to "continue to normalise through the second half of fiscal '23, compared to the double-digit growth in the prior period". OCCASIONAL TREATSStill, overall organic net sales rose 9.4% in the six months to Dec. 31, beating analyst forecasts for a 7.9% rise. Diageo's "premium-plus" brands - which are more expensive than brands such as Smirnoff vodka but under about 50 pounds ($61.92), drove 65% of its organic net sales growth, the company said.

☆ More than 500 Salesforce employees wrote to execs demanding layoff answers. Read the leaked messages showing how management responded.
▼ + stars: | 2023-01-24 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +13 min

Salesforce appeared to have responded to employees' questions through a Q&A titled "Top Questions from Employees," posted to an internal Slack channel by Salesforce executive vice president of employee communications and engagement Jill Unikel. Are you a Salesforce employee or do you have insight to share? SELECTION CRITERIAQuestion: What criteria was used to decide who was in the 10% of employees affected? If an affected employee finds a new role internally before their termination date, they will remain a Salesforce employee and not receive their communicated severance. BENEFITS FOR AFFECTED EMPLOYEESQuestion: Did affected employee receive benefits included in their severance?

In November, the State Bank of Pakistan's Monetary Policy Committee unexpectedly pushed up its key rate by 100 bps, meaning it has now raised it by a total of 725 bps since January 2022. The country - struggling after last year's devastating nationwide floods - posted a 24.5% annual inflation rate in January. Although some moderation was seen in inflation in November and December, it remains high and core inflation has been on a rising trend for the last 10 months, the central bank added. The lack of fresh financial inflows and ongoing debt repayments have led to a steady drawdown in official reserves, the central bank said. "The current account deficit narrowed by around 60 percent to $3.7 billion in H1-FY23," the central bank said.

☆ ECB's Holzmann expects at least two rate increases in H1 -newspaper
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

VIENNA, Jan 20 (Reuters) - European Central Bank policymaker Robert Holzmann expects at least two interest-rate increases of 50 basis points each in the first half of this year, he said in an interview with Austrian newspaper Die Presse published on Friday. Holzmann said that while headline inflation has eased, core inflation, which strips out volatile energy and food prices, had not. He said that as long as core inflation had not fallen significantly interest rates would have to keep rising. "Core inflation is currently at more than 5%, which is still two-and-a-half times our target," he said. Reporting by Francois Murphy; Additional reporting by Frank Siebelt in Frankfurt; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ South Korea's Q4 GDP likely shrank, hints at possible recession - Reuters poll
▼ + stars: | 2023-01-20 | by ( Veronica Dudei Maia Khongwir | ) www.reuters.com time to read: +3 min

Asia's fourth-largest economy is expected to have shrunk by a seasonally-adjusted 0.3% in the October-December quarter after growing 0.3% in the preceding period. All but one of 13 economists in the Jan. 16-19 Reuters poll forecast a contraction, with the other expecting growth to flatline. If realized, it would be the sharpest contraction since mid-2020 when the COVID-19 pandemic was cementing its grip on the world. On a year-on-year basis, gross domestic product (GDP) likely grew 1.5% in the fourth quarter, the median forecast of 21 economists showed, half the 3.1% growth in the third quarter. According to a separate Reuters poll, growth was forecast at 2.5% in 2022, slowing to 1.9% this year.

☆ The contender for tech's next big boom or bubble is here
▼ + stars: | 2023-01-13 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +5 min

It's the hunt for big paydays that keeps VC markets a little frothy when new tech like generative AI hits the scene. And a bubble is only a bubble in the rear-view — in the moment, it's just making sure you don't miss out on the future. Generative AI tools can be used to create a variety of texts and images like this one, which was produced by OpenAI's DALL-E 2. But could generative AI be the next bubble in tech? Click here to read whether the next tech bubble is already here.

☆ Philippines c.bank hopes to cut rates in 2024, flags RRR reduction
▼ + stars: | 2023-01-12 | by ( Neil Jerome Morales | ) www.reuters.com time to read: +2 min

"By 2024, when pent-up demand is gone, then monetary policy hopefully at that time will be much looser than what we have now," he said. Another easing measure could involve banks' reserve requirement ratio, with a high probability of it being cut in the first half, Medalla told reporters. The BSP stands ready to take further monetary policy actions to bring inflation back to within a target-consistent path, Medalla said. The figure brought the average full-year inflation rate to 5.8%, also a 14-year high and above the official 2%-4% target band. "If the U.S. is increasing policy rates, we need not match it but if it's 50 (basis points), it's hard not to respond, at least partially," Medalla said.

☆ Evercore ISI's top picks for 2023 include a tech comeback story and a car racing play
▼ + stars: | 2023-01-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Finding opportunities amid the market volatility is "mission critical," and there are several to be had this year, according to Evercore ISI. The Wall Street firm is predicting an economic and earnings recession, catalyzing a "cathartic" volatility spike in 2023. "Alpha opportunities are surfacing in 2022's wreckage from inflation's breakout resulting in record tightening, catalyzing a stock/bond correlated decline. With that in mind, Evercore came up with its top stock picks for 2023. The streaming company should enjoy a comeback this year, after losing 51% in 2022, according to analyst Mark Mahaney.

☆ Ethio Telecom posts H1 growth in revenue, financial service subscribers
▼ + stars: | 2023-01-12 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +1 min

[1/2] Ethio Telecom employees serve a customer inside their call centre in the Bole neighborhood branch in Addis Ababa, Ethiopia July 29, 2022. REUTERS/Tiksa NegeriADDIS ABABA, Jan 12 (Reuters) - Ethiopia's state-owned Ethio Telecom on Thursday reported a 20% rise in half-year revenue to 33.8 billion birr ($633 million). Subscribers to its mobile phone-based financial service Telebirr, launched in May 2021, grew to 27.2 million out of its 70 million total subscribers, CEO Frehiwot Tamiru told a news conference. That was up from 21.8 million Telebirr subscribers in June 2022. Efforts to attract investment have been hampered, however, by a two-year war in the northern Tigray region, which has killed tens of thousands and displaced millions.

☆ India markets to be 'volatile to tepid' in H1: Financial services firm
▼ + stars: | 2023-01-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian markets are likely to be 'volatile to tepid' in first half of 2023: Financial services firmSiddharth Sedani of Anand Rathi Shares and Stock Brokers says, however, that the second half of the year could be "quite exciting and promising."

☆ Turkey cenbank targets 60% lira deposits in banks in H1
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

ANKARA, Dec 30 (Reuters) - Turkey's central bank said on Friday it aims to lift the share of lira deposits to 60% of all deposits in the banking system over the next six months, and vowed to continue using regulations to support access to credit. In its annual monetary policy report, the central bank said it was maintaining its long-held 5% medium-term inflation target, as the annual inflation rate begins edging down from a 24-year high above 85% in October. The central bank, which has undertaken an "liraization" policy of stabilizing the currency as it has slashed interest rates, repeated it had no forex target level and would not buy or sell hard currencies to direct the lira. Reporting by Nevzat Devranoglu Ezgi Erkoyun; Writing by Jonathan Spicer; Editing by Ece ToksabayOur Standards: The Thomson Reuters Trust Principles.

☆ Here are the 10 Dow stocks analysts think will see the most gains in 2023
▼ + stars: | 2022-12-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

With that in mind, CNBC Pro looked at stocks in the Dow that have the most upside to the average analyst price target, per FactSet. Salesforce takes the top spot, with nearly 50% upside to the average analyst price target. Tech giant Apple could also see big gains, with the average analyst price target implying upside of 28%. The stock has had a lackluster year, losing 25%, but 62% of analysts covering Apple rate it a buy. 4 spot with nearly 21% upside to the average analyst price target.

☆ South Korea's economic slump to bottom in H1 2023 - finance minister
▼ + stars: | 2022-12-18 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. Made Nagi/Pool via REUTERSSEOUL (Reuters) - South Korea’s finance minister said on Monday the economy is slowing at a more rapid pace than previously expected and would bottom in the first half of next year. “Our economy’s growth is expected to slow next year due to the effects from a global economic slump, and the difficulty will be focused on the first half,” Minister Choo Kyung-ho said at the opening of a meeting with the ruling party leadership. The meeting was held ahead of the government’s announcement later this week of its economic policy strategies for next year, which will be the first full-year statement for President Yoon Suk-yeol’s administration since its launch in May.

☆ Here are Friday's biggest analyst calls: Apple, Amazon, Meta, Nvidia, Carvana, Delta, Walmart & more
▼ + stars: | 2022-12-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Evercore ISI names Apple as a top pick in 2023 Evercore said it sees 2023 as a "moonshot" year for Apple. MKM names Walmart a top 2023 pick MKM said it sees further share gains for Walmart in 2023. " JPMorgan names Eli Lilly a top 2023 pick JPMorgan said Eli Lilly is "best-in-class." Canaccord names Yeti and Traeger top 2023 picks Canaccord says Yeti should hold up well in a recessionary environment. YETI Holdings (YETI : BUY, $58 PT): We believe the core YETI consumer should hold up relatively better in a recession as it skews a bit higher end.

☆ UBS says high quality outperforms in recessions — 10 such stocks on sale
▼ + stars: | 2022-12-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Look to cheap high-quality stocks to manage recession risk in the new year, according to UBS. UBS highlighted several stocks in the S & P 1500 with market caps of more than $6 billion. Here are 10 of the stocks: One of the highest-quality stocks on the list is cosmetics retailer Ulta Beauty , in the 99.1 percentile. Like Ulta, Walmart also raised its guidance when it reported earnings last month . Construction supplier Fastenal is another high ranker for quality, in the 95th percentile.

☆ Miner Vale looks to close deal with partner for base metals in H1
▼ + stars: | 2022-12-07 | by ( Marcelo Teixeira | ) www.reuters.com time to read: +2 min

FILE PHOTO: Brazilian mining company Vale SA logo and trading symbol are displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., December 6, 2017. REUTERS/Brendan McDermid//File PhotoNEW YORK (Reuters) - Brazilian mining company Vale is in advanced talks with possible partners for its new base metals investment vehicle and looks to have a deal concluded during the first half of 2023, Chief Executive Gustavo Pimenta said on Wednesday. Pimenta said the key quality Vale is looking when deciding for the partner is expertise. “We will change the way we manage base metals. Demand for metals like nickel and lithium is seen growing sharply in coming years due to expected production growth of electric vehicles (EV).

☆ Stocks are likely to get smacked down in the first half of 2023 before markets improve
▼ + stars: | 2022-12-05 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

The outlook for next year is a bit better for stocks, but the first half sounds like it could be downright ugly. The strategist expects lows to be retested due to what could be a significant decline in earnings as interest rates rise. Jeff Kleintop, Charles Schwab's chief global investment strategist, expects a shallow recession may already have begun. He predicts the first half will be worse for stocks than the back half of the year, with a choppiness similar to the past six months. Calvasina expects small caps to be an area of outperformance, and she still sees value in energy and financials.

☆ The electric Hummer isn't as great for the environment as you might think — and it proves not all EVs are created equal
▼ + stars: | 2022-12-02 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

If you think driving a pint-sized Nissan Leaf is as good for the planet as driving a huge electric Hummer, think again. The GMC Hummer EV uses significantly more electricity than other EVs, meaning it produces more pollution upstream. Moreover, the GMC Hummer EV is in many ways a supersized gas guzzler for a new era. EVs can be energy guzzlers tooOn the whole, electric cars use less energy than gas-powered ones. The 4.5-ton elephant in the roomThe Hummer EV is a full 4,000 pounds heavier than a well-optioned, gas-powered Ford F-150.

☆ DoorDash lays off 1,250 employees
▼ + stars: | 2022-11-30 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

Tony Xu, co-founder and chief executive officer of DoorDash Inc., smiles during the Wall Street Journal Tech Live conference in Laguna Beach, California, U.S., on Tuesday, Oct. 22, 2019. Delivery service DoorDash is laying off 1,250 corporate workers as part of a continued cost-cutting effort, driven by tapering growth and overhiring, CEO Tony Xu said in a message to employees on Wednesday. 1, a decision that Xu told employees would give them "as much time possible to find a new job." DoorDash will set a termination date of March 2023 for H1-B visa holders, allowing overseas workers as much time as possible to find a new opportunity. DoorDash shares are down over 60% year-to-date.

☆ Kenya's Centum Investment H1 pretax loss widens to 1.24 bln shillings
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

[1/2] Women work at the front desk of the Centum Investment Company Limited in Nairobi, Kenya November 11, 2015. REUTERS/Siegfried Modola/File PhotoNAIROBI, Nov 29 (Reuters) - Kenya's Centum Investment (CTUM.NR) said on Tuesday its pretax loss widened to 1.24 billion shillings ($10.14 million) in the first half of the year to end-September from a loss of 697 million shillings in the same period a year earlier. It said in a statement its company investment and other income fell to 713.4 million shillings from 987 million shillings, while operating and administrative costs dropped to 254.7 million shillings from 328.2 million shillings. Centum, which invests in listed firms and private companies, said company net asset value per share, a key measure of performance for investment firms, fell to 59.77 shillings from 62.10 shillings. In June, Centum said it agreed to sell its 83.4% stake in Kenya's Sidian Bank to Nigeria's Access Bank for 4.3 billion shillings.

☆ Tech's reality check: How the industry lost $7.4 trillion in one year
▼ + stars: | 2022-11-25 | by ( Rohan Goswami | ) www.cnbc.com time to read: +14 min

Not one of the 15 most valuable U.S. tech companies has generated positive returns in 2021. In total, investors have lost roughly $7.4 trillion, based on the 12-month drop in the Nasdaq. In the war for talent and the free flow of capital, tech pay reached new heights. Loading chart...SPACs allowed companies that didn't quite have the profile to satisfy traditional IPO investors to backdoor their way onto the public market. A slowing IPO market informs how earlier-stage investors behave, said David Golden, managing partner at Revolution Ventures in San Francisco.

☆ Bootmaker Dr. Martens' margin warning knocks shares down 20%
▼ + stars: | 2022-11-24 | by ( Radhika Anilkumar | ) www.reuters.com time to read: +2 min

"Going into the winter season, we see people buying more of our iconic boots which (are) ... the 1460s and our Jadons," Wilson added. To help employees cope with rising prices and dearer bills, the company has offered a one-off payments of 500 pounds ($605) to employees earning less than 45,000 pounds a year, Wilson said. First-half core profit was flat compared with a strong year ago period, the company said, while revenue rose 13% to 418.6 million pounds, helped by price hikes. The stock was down 21.2% at 225.6 pence by 1137 GMT, having risen the previous session to its highest since February. ($1 = 0.8260 pounds)Reporting by Radhika Anilkumar in Bengaluru; Editing by Rashmi Aich and David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ A December rally may arrive, but the first half of 2023 could be rough for stocks
▼ + stars: | 2022-11-24 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Some strategists see a bottoming for stocks in the first part of 2023, but others say the key indexes could avoid breaking down to a new low but remain volatile. Redler follows short-term technicals, and he said the market could run into weakness around earnings in the first quarter, after a fourth-quarter Santa rally. "I think the Fed does stop raising rates in the first quarter, but it has to leave them there for an entire year. Bank of America strategists cite that inversion, and expectations for a mild recession next year, as a reason behind their negative call on stocks for the first half. A dollar-cost average first half with an expected recovery in the second half," he said.

☆ Wall Street salaries revealed: How much Evercore, Centerview, Moelis, and other boutique banks pay from analyst to VP
▼ + stars: | 2022-11-22 | by ( Emmalyse Brownstein | Rachel Durose | ) www.businessinsider.com time to read: +9 min

Pay soared everywhere, but particularly at boutique firms, which tend to pay more than big banks. Some of the biggest beneficiaries of that trend were those at "boutique" firms — smaller banks lesser known to industry outsiders — like Moelis, Lazard, and Evercore. It has more than 3,000 employees according to LinkedIn and more than 200 open positions. Rothschild & Co.Based in Paris, but with offices in several US cities, Rothschild has 3,600 employees, according to their website. 2 in number of completed transactions for the first half of 2022, according to their August press release.

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