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☆ Fitch just downgraded US debt. Goldman Sachs says it's no big deal.
▼ + stars: | 2023-08-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Fitch downgraded US debt from AAA to AA+ on Tuesday, but Goldman Sachs isn't concerned. The ratings agency downgraded the US's long-term debt from AAA to AA+, pointing to this summer's last-minute debt deal, rising government debt, and suspect long-term management. Here's how Goldman Sachs responded:"Bottom line: the downgrade mainly reflects governance and medium-term fiscal challenges, but does not reflect new fiscal information. Big holders of US Treasury securities aren't going to rush to shed their holdings just because of the downgrade, Goldman maintained. Finally, Fitch did not adjust its "country ceiling" to reflect the downgrade, and that currently still sits a AAA level, according to Goldman.

Persons: Fitch, Goldman Sachs isn't, Goldman Sachs, Jan Hatzius, Goldman Organizations: AAA, Service, AA, Treasury Locations: Wall, Silicon

LONDON, Aug 2 (Reuters) - The economic picture may not have to change much for the surprise element to disappear for markets - underlining the significance of this summer's sometimes grudging admissions of investment strategy missteps. SURPRISE, SURPRISEExceptional U.S. economic surprisesU.S. surprise gaps the widest in decades, excluding pandemicAlong with market moves themselves and skewed positioning monitors, the simplest take on the unpreparedness of investors can be seen in economic surprise indices. The global surprise index is close to zero, suggesting expectations for the world economy in aggregate are actually coming in on cue. And if that happens, it may just suck the oxygen from the stellar equity outperformance over bonds to date. If true, markets may find the going harder without that element of surprise.

Persons: What's, Schroders, Johanna Kyrklund, hasn't, Kyrklund, Chris Iggo, Mike Dolan Organizations: Federal, Nasdaq, Japan's Nikkei, U.S, Graphics, AXA IM Investment, Reuters, Twitter, Thomson Locations: Europe, Japan, China, U.S

☆ It's the hottest cold drink at Starbucks – and it barely contains any coffee
▼ + stars: | 2023-08-02 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Cold beverages, especially Refreshers, are driving sales at Starbucks. Starbucks Refreshers, a popular line of fruity drinks infused with green coffee extract, usually sell more in the afternoon. "This includes this summer's launch of our Starbucks Refreshers frozen beverages," Narasimhan said. Cold foam, the fastest-growing add-on at Starbucks, can be added to Refreshers, and Starbucks is rolling out "faster and easier to use" cold foam blenders "to meet the summer demand for Starbucks Refreshers frozen beverages," Narasimhan said. "The new blenders support the additional growth of cold foam, the fastest-growing customization at Starbucks," the CEO said.

Persons: they've, Laxman Narasimhan, Narasimhan, Rachel Ruggeri, Refreshers Organizations: Starbucks, Service Locations: Wall, Silicon, Refreshers

"It seems like they do a lot to try to make it seem like they are the party for young Black men or Black men as a whole, but they don't back it with anything. The vast majority of Black voters, including men, are still expected to choose Biden over a Republican. Black men and women under the age of 50 voted Republican in similar numbers, the poll showed. A Reuters/Ipsos poll conducted July 11-17 found 18% of Black Americans would pick Trump over Biden in a hypothetical matchup, compared to 46% who favored Biden, including about one in four Black men, compared to about one in seven Black women. Compared with Black women, Black men were more likely to say they would back a presidential candidate that supported abortion restrictions and increased police funding to fight crime.

Persons: Joe Biden, Biden, lurch, Mekonnen, Biden's, I'm, LeLann Evans, Evans, Michael McDonald, Republican Donald Trump's, Trump, Terrance Woodbury, Woodbury, Julian Silas, Silas, Kamala Harris, Jaime Harrison, Harris, Tracy King, Andre Russell, Trevor Hunnicutt, Jarrett Renshaw, Jason Lange, Eric Cox, Heather Timmons, Alistair Bell Organizations: . Army, White House, Democratic Party, Democratic, White, Reuters, U.S, Republican, Black, Biden, Nashville City Council, Democrats, Pew Research, University of Florida, Republicans, HIT, Edison Research, Federal Reserve, Democratic National Committee, Culture, NAACP, Thomson Locations: Georgia, Black, South Carolina, Philadelphia, Atlanta , Milwaukee, Detroit, Pennsylvania , Michigan, Washington, Chicago, U.S, New Orleans

☆ The Perseid meteor shower will peak in August, bringing up to 100 fireballs per hour. Here's how to see them.
▼ + stars: | 2023-08-01 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

The Perseid meteor shower will peak August 13. It could bring up to 100 fireballs per hour, NASA expert Bill Cooke told Insider. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyThe Perseid meteor shower is the must-see astrological event of the year. The shower is due to peak on the night of August 13, per Cooke, so it's time to start planning. The Perseid meteors are bright, but can still be easily obscured by the glare from city lights.

Persons: Bill Cooke, Cooke, Tuttle, Spain Carlos Fernandez Organizations: NASA, Service Locations: Wall, Silicon, Galicia, Spain

On Tuesday, Goolsbee said his own decision at the Fed's next meeting in September will be driven by what happens on prices. And those metrics suggest, Goolsbee said, that the Fed is on the "golden path" of disinflation without a recession. But, he added, he does not see a tight connection between labor market tightness and inflation - meaning, he believes that inflation can fade even as the job market stays healthy. The Fed's September rate call will depend on what happens with inflation, as will how long the Fed will keep rates high and when it will start cutting, he said. "The answer is, it totally depends on whether we're able to navigate the path and get inflation down without a recession," he said.

Persons: Austan Goolsbee, Obama, Brendan McDermid, Goolsbee, that's, Banks, Ann Saphir, Andrea Ricci Organizations: University of Chicago, Democracy, REUTERS, Chicago Federal Reserve Bank, Reuters, U.S, Fed, Labor Department, Thomson Locations: New York City, U.S

☆ Biden heads to Arizona, other Western states to tout his economic policies
▼ + stars: | 2023-07-31 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

WASHINGTON, July 31 (Reuters) - U.S. President Joe Biden will travel to the key battleground state of Arizona and two other Western states next week as part of a travel blitz by senior administration officials touting recent economic gains and the anniversaries of key legislation. Biden will also host an event at the White House on Aug. 16, the official added. The Biden administration has struggled to sell its message of economic progress to a skeptical American public and connect the dots from the legislation to future jobs and growth. Vice President Kamala Harris will travel to Wisconsin with Commerce Secretary Gina Raimondo to highlight broadband infrastructure investments made possible by the $1 trillion bipartisan infrastructure law signed into law 20 months ago. Other cabinet members will visit Maine, Maryland, Nevada, Michigan and California, the official said.

Persons: Joe Biden, Biden, Kamala Harris, Gina Raimondo, Tom Vilsack, Jennifer Granholm, Ali Zaidi, Pete Buttigieg, Andrea Shalal, Mark Potter Organizations: White, White House, Energy, Transportation, Houston Port, Thomson Locations: Arizona, New Mexico, Utah, Delaware, U.S, Wisconsin, Oregon, Washington, Puerto Rico, Illinois, Houston , Texas, Maine , Maryland , Nevada , Michigan, California

"Financial markets have consistently front-run the Fed ... That has already eased credit conditions and could stoke an acceleration in growth." Reuters GraphicsBALANCING RISKSIn the six weeks since their June 13-14 meeting, Fed policymakers have digested data offering a mirror image of what they faced a year ago. Signs of a slowdown are there, to be sure, and some policymakers expect more weakness is coming - an argument for caution in considering further rate increases. Still, unless there's a sharp drop in activity soon, it could mean Fed officials have underestimated the economy's strength and may become doubtful about the prospect of a continued decline in inflation. That will likely keep the door open to more rate increases - for now.

Persons: Diane Swonk, Jerome Powell, That's, Tim Duy, Duy, Powell, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal, KPMG, stoke, Reuters, Fed, Atlanta Fed, SGH Macro, Thomson Locations: U.S

☆ Barbie and Ken, this summer's hottest couple, were actually named after a brother and sister
▼ + stars: | 2023-07-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +7 min

Ruth Handler's children resented the dolls named after them and didn't buy any for their own children. The plastic dolls were actually named for a sister and brother – the children of Mattel cofounder and Barbie creator Ruth Handler. "If people did find out, she'd tell them in no uncertain terms that she was not the Barbie doll." Barbara, meanwhile, said: "I'm tired of being Barbie doll." Timm Schamberger/DDP/AFP via Getty ImagesHandler also named dolls for her children's partners and their children, including Allan, named for her son-in-law.

Persons: Barbie, Ken, Ruth Handler's, They've, Greta Gerwig's, –, Margot Robbie, Ryan Gosling –, Ruth Handler, Frederic Neema, Handler, Babs, Barbara, Barbara Millicent Roberts, Ruth, Jens, Ulrich Koch, Stache, Cyrus McCrimmon, Lobel, Blaine, Mel Melcon, Mattel Barbara, Elliott Handler, Bettmann, Barbara Handler, Handler's, Barbies . Bork, bimbo, Timm Schamberger, Allan, hadn't Organizations: Service, Mattel, Getty, Los Angeles Times, Hulton, Valentine's, Express, DDP, Getty Images, Denver, Fair Locations: Wall, Silicon, Europe, AFP, Nuremberg, Germany

☆ Barbie is the star of the summer's hottest blockbuster. The much-hyped movie is the pinnacle of a 60-year history filled with rejections, lawsuits, and controversies for the world's most iconic doll.
▼ + stars: | 2023-07-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Ruth Handler wanted to make an adult fashion doll but Mattel's team shot her downChesnot/Getty ImagesBarbie is back in vogue. The current hype around the brand is in sharp contrast to the rejections Barbie inventor Ruth Handler faced when she first tried to create the doll in the 1950s. But Handler, who had co-created Mattel in 1945, struggled to convince people of the market for an adult fashion doll. Mattel's team told her it wouldn't be possible to make such dolls at a low price in the US, she wrote. "As the years went by, I brought up my idea a few more times, but everybody would kind of turn me off," Handler wrote.

Persons: Ruth Handler, Barbie, Zs, Margot Robbie, Ryan Reynolds, Barbara, Handler Organizations: Mattel

☆ This exclusive chart reveals why the groundswell of buzz around 'Barbie' and 'Oppenheimer' could help reverse Hollywood's box-office doldrums in spite of the actors' strike
▼ + stars: | 2023-07-20 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

This year, a number of films have flopped at the box office, including "Elemental" and "The Flash." A social-media analysis from Diesel Labs points to possible success for "Barbie" and "Oppenheimer" — here's why. Temperatures are rising all around the world, with one notable exception: the box office, where this year's film openings have mostly been, at best, lukewarm. Social-media attention on forthcoming and recent film releases looks to be generally trending higher for titles like "Barbie," "Oppenheimer," and "Mission Impossible: Dead Reckoning Pt. This story has been updated to reflect new box office estimates and an estimate of how many moviegoers will see "Barbie" and "Oppenheimer" on the same day.

Persons: Barbie, Oppenheimer, Mario Bros, tentpole, Indiana Jones, —, Barbie ”, “ Oppenheimer, Michael O'Leary, David A . Gross, Tom Cruise's, Gross, Screenrant, Ruby Gillman, Mario, America's, Christopher Nolan's, Greta Gerwig's, Matt Damon, Emily Blunt, Rami Malek, Reed Alexander Organizations: Diesel Labs, SAG, Writers Guild of America, www.diesellabs.com Diesel Labs, National Association of Theatre Owners, Warner Bros, Rotten, Entertainment Research, Variety, Disney, Mario Bros, Writers Guild, Wednesday, London Locations: Hollywood, North America

☆ New data reveals why the groundswell of buzz around 'Barbie' and 'Oppenheimer' could help reverse Hollywood's box-office doldrums in spite of the actors' strike
▼ + stars: | 2023-07-19 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

This year, a number of films have flopped at the box office, including "Elemental" and "The Flash." A social-media analysis from Diesel Labs points to possible success for "Barbie" and "Oppenheimer" — here's why. Temperatures are rising all around the world, with one notable exception: the box office, where this year's film openings have mostly been, at best, lukewarm. Social-media attention on forthcoming and recent film releases looks to be generally trending higher for titles like "Barbie," "Oppenheimer," and "Mission Impossible: Dead Reckoning Pt. Diesel Labs’ data has found that social-media buzz about the forthcoming launches of “Barbie” and “Oppenheimer” is trending ahead of last year’s benchmark levels.

Persons: Barbie, Oppenheimer, Mario Bros, tentpole, Indiana Jones, —, Barbie ”, “ Oppenheimer, David A . Gross, Tom Cruise's, Gross, Screenrant, Ruby Gillman, Mario, America's, Christopher Nolan's, Greta Gerwig's, Matt Damon, Emily Blunt, Rami Malek, Reed Alexander Organizations: Diesel Labs, SAG, Writers Guild of America, www.diesellabs.com Diesel Labs, Warner Bros, Rotten, Entertainment Research, Variety, Disney, Mario Bros, Writers Guild, Hollywood Locations: Hollywood, London

☆ How you can save $500 or more on a flight to Europe this year
▼ + stars: | 2023-07-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Airfare to Europe hit an all-time high this summer. But those dissuaded by the sticker shock can still travel overseas in coming months and cut costs by perhaps hundreds of dollars a ticket. Flying to Europe from the U.S. during the fall "shoulder season" — in September and October — instead of in the summer will save the average traveler $500 per round-trip ticket, according to data from Hopper, a travel app. Europe is the most popular overseas destination for U.S. tourists this summer. But travelers to top European cities would save 34%, on average, by going in the fall instead of June, July or August, Hopper found.

Persons: —, Hopper, Hayley Berg, Hopper's Organizations: —, Finance Locations: Europe, U.S, Rome, London, Barcelona

☆ 'Barbie' and 'Oppenheimer' could be struggling movie theaters' last chance to make money this summer
▼ + stars: | 2023-07-12 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

They could also be the struggling theater industry's last chance to make money this summer. Struggling movie theaters might see "Barbie" and "Oppenheimer" – which both come out July 21 – as their last chance to make money this summer. Forecasters think "Barbie" will be the highest-grossing film in the US this summer with earnings between $215 million and $319 million, the data shows. Sandwiching the two movies on Box Office Pro's leaderboard is Tom Cruise's latest "Mission Impossible" flick. AMC has lost money for 15 consecutive quarters, while Cineworld – which owns Regal Cinemas – filed for Chapter 11 bankruptcy last year.

Persons: Greta Gerwig's, Christopher Nolan's, Oppenheimer, Tom Cruise's, Meg, Mario, Indiana Jones Organizations: AMC, Alamo, Mario Bros

☆ 'Barbenheimer' is coming: AMC says it has already sold 20,000 same-day tickets for the 'Barbie' and 'Oppenheimer' double feature
▼ + stars: | 2023-07-10 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

Move over Taylor Swift, summer's hottest ticket is a "Barbie" and "Oppenheimer" double feature. AMC Theaters this week announced that more than 20,000 members of its AMC Stubs loyalty program have purchased tickets to watch the unlikely cinematic pairing on the same day. Greta Gerwig's "Barbie" and Christopher Nolan's "Oppenheimer" have been slated for a July 21 release for the past year. The juxtaposition between the bright and bubbly "Barbie" and the dour, nuclear bomb drama has led internet users to declare "Barbenheimer" a must-see double feature. "I want to see both 'Barbie' and 'Oppenheimer,'" Cruise said.

Persons: Taylor Swift, Oppenheimer, Greta Gerwig's, Christopher Nolan's, Elizabeth Frank, Barbie, Tom Cruise, Cruise, Warren Buffett Organizations: AMC, Variety

☆ The 2023 movie box office will need a strong second half after an inconsistent first six months
▼ + stars: | 2023-07-04 | by ( Sarah Whitten | ) www.cnbc.com time to read: +6 min

Hit and missOf course, quality is a big factor in a film's box office success, too. That pullback has already begun with the 2023 summer movie season. Starting the first Friday in May and running until Labor Day weekend, the summer movie season typically represents 40% of all movie ticket sales for the year. So far through July 2, the summer box office has tallied $1.88 billion. In summer 2022, the box office got a boost from Tom Cruise's "Top Gun: Maverick," a Paramount and Skydance feature.

Persons: that's, Mike Polydoros, clamoring, It's, Universal's, Mario, haven't, Shawn Robbins, Robbins, Tom Cruise's, Paul Dergarabedian, Strange, Indiana Jones, Ruby Gillman, Oppenheimer, Dergarabedian, Kraven, Hunter Organizations: PaperAirplane Media, CNBC, Warner Bros, Mario Bros, Guardians, Galaxy, Sony, BoxOffice.com, Labor, Paramount, Comscore, Universal, Disney, Lionsgate

☆ German inflation bucks downward trend in June with higher-than-expected rise
▼ + stars: | 2023-06-29 | by ( Maria Martinez | Thomson Reuters | Maria Martinez Is A Reuters Correspondent In Berlin Covering German Economics | ) www.reuters.com time to read: +3 min

French and euro zone inflation data is due on Friday. Economists polled by Reuters expect euro zone inflation to fall to 5.6% in June from 6.1% in May. "The June figures in Germany only interrupt the downward trend in the inflation rate and do not mark its end," said Ralph Solveen, senior economist at Commerzbank. Non-harmonized consumer prices rose 6.4% in June year-on-year, following a 6.1% rise in the previous month. The year-on-year rebound in German inflation midway through the second quarter is almost exclusively due to base effects from last year's temporarily-reduced rail fare, said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics.

Persons: Analysts, Ralph Solveen, year's, Claus Vistesen, Carsten Brzeski, Commerzbank's Solveen, Brzeski, Maria Martinez, Friederike Heine, Miranda Murray, Angus MacSwan, Conor Humphries Organizations: Union, Reuters, Commerzbank, Pantheon, European Central Bank, ING, Economists, ECB, Thomson Locations: BERLIN, Spain, Italy, Germany

☆ Your city could get millions to create jobs under a new Biden plan to put Americans back to work
▼ + stars: | 2023-06-29 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Cities and regions left behind by bygone industries can now apply for funding to revitalize jobs. The Biden administration is opening up applications for its Recompete Pilot Program. Under that program, a handful of "distressed communities" can receive at least $20 million. It's called the Recompete Pilot Program, and it's meant to pump funds into economically distressed areas. According to research from Timothy J. Bartik for the Brookings Institute, nearly a sixth of the country's population lives in distressed communities.

Persons: Biden, —, It's, Biden's, Gina Raimondo, Timothy J, Bartik, Derek Kilmer, it's, Kilmer, what's, Alejandra Castillo Organizations: Service, Economic Development Administration, Brookings Institute, White, Commerce, Economic Development Locations: Scranton , Pennsylvania, Washington

☆ Summer's here, and a 5%-10% pullback in concentrated big cap tech may be too
▼ + stars: | 2023-06-26 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The risk of too great a concentration in big cap tech stocks is again back in focus. Many have been saying that a 5%-10% pullback is overdue, certainly for big cap tech. The correction may already be starting: many big tech names, particularly semiconductors, were down in the high- to mid-single digits last week. (market cap vs. country GDP) Apple $2.9 trillion France $2.9 trillion Source: Wells Fargo Microsoft bigger than Italy? "Using 1999 as our example, we wonder how much longer the current chart (Apple > France and Tesla > Taiwan) is sustainable," he writes.

Persons: Today's Russell rebalance, Wells, Chris Harvey, Harvey —, Russell, There's, David Faber, Wells Fargo's Chris Harvey, Tesla, Harvey, Dan Ives, Ives Organizations: NYSE, Nasdaq, Intel, AMD, Broadcom, Apple, Microsoft, Nvidia, Wells, today's Tech, General Electric, Cisco, Walmart, Nokia, Pfizer, ExxonMobil, IBM, Citigroup, Tesla, Big Tech Locations: France, Italy, Mexico, Taiwan, Wedbush

☆ A retired US general says Ukraine could recapture Crimea before the summer's out, but only if the US gives it the ammunition it needs
▼ + stars: | 2023-06-22 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Retired Lt. Gen. Ben Hodges told Newsweek that Ukraine could retake Crimea before the summer ends. Hodges believes recapturing Crimea would be essential for Ukraine to rebuild its economy. "My principal caveat still remains that if the United States were to provide what Ukraine needs, then Ukraine could actually still liberate Crimea by the end of this summer," retired Lt. Gen. Ben Hodges told Newsweek on Wednesday. The Biden administration has held back from sending long-range weapons to Ukraine that have the capacity to strike targets in Russia. US officials told Ukraine in February that they weren't able to send over the ATACMS due to insufficient supply, per Politico.

Persons: Ben Hodges, Hodges, —, Pat Ryder, Biden, Vladimir Putin Organizations: Newsweek, Service, US Army, State Department, Pentagon, Tactical Missiles Systems, Ukraine Locations: Ukraine, Crimea, United States, Russia, Sevastopol, Saki, Russian, St . Petersburg, Belarus, Poland, Russians, Mykolaiv, Europe

☆ United may have found a fix for one of the worst realities of flight delays
▼ + stars: | 2023-06-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Meal vouchers will be sent for delays of three hours or more and hotel vouchers for overnight delays. On Thursday, United Airlines said that it will start sending meal and hotel vouchers via phone to passengers whose flights have been disrupted. Disruptions include issues pertaining to maintenance or technology— or what United spokesperson Amy Fisher called "controllable" delays— which means weather related issues don't count. Flights for those with overnight delays will be rebooked for the next day, she added. "We've been automatically rebooking customers and providing meal and hotel vouchers for years," Fisher said.

Persons: Amy Fisher, Fisher, We've, Pete Buttigieg Organizations: Department of Transportation, Morning, United Airlines

☆ Ukraine builds layered air defences as Russia ramps up strikes
▼ + stars: | 2023-06-20 | by ( Tom Balmforth | ) www.reuters.com time to read: +4 min

[1/5] Ukrainian serviceman prepares an AN/TWQ-1 Avenger mobile air defence missile system for work during his combat shift, amid Russia's attack on Ukraine, outside of Kyiv, Ukraine June 16, 2023. "When they arrive in one night, both (drones) and cruise missiles fly by, that's the most difficult." On Friday, Ukraine said it shot down all six cruise missiles and six hypersonic Kinzhal missiles fired at targets in and around the capital. "One of our top priorities, when it comes to transforming our armed forces and building up our air defence capability is creating a three-layered air defence system," said Sak. By contrast in April, the Air Force said it had shot down 73 drones and 21 cruise missiles.

Persons: Anna Voitenko, Volodymyr Zelenskiy's, Yuriy Sak, Sak, Tom Balmforth, Angus MacSwan Organizations: REUTERS, U.S, TIME, Patriots, Patriot, Air Force, Thomson Locations: Ukraine, Kyiv, KYIV, U.S, Russia, Europe, Odesa, West, Washington, Australia

☆ Automakers are replacing decades of know-how with strategies from Tesla's playbook
▼ + stars: | 2023-06-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Auto companies need EV battery supply more than ever, but the costs are adding up. Prices and a push to use local materials have carmakers investing in in-house battery supply. That means car companies are seeking an alternative and racing to secure their battery supply in the US. But the pandemic — and other disruptions, like natural disasters — shed a light on just how vulnerable that can also make auto companies. It's complicated and time-consuming, but may ultimately be the best way car companies can get closer to lowering the cost of new EVs.

Persons: Tesla, they've, They've, Peter Maithel, Julian Stratenschulte, There's, We've, Matt Sculnick, Nomura, Rivian, —, Alvarez, Tony Lynch, Kelley Organizations: Auto, EV, Morning, Infor, Volkswagen, Getty, Marsal, GM, Ford Locations: Europe, Asia, China, Illinois

☆ European natural gas prices soar 30% as key source to close permanently after hundreds of earthquakes
▼ + stars: | 2023-06-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Europe's biggest gas field is set to close permanently in October, Bloomberg reported. The news sparked a 30% jump in benchmark European natural gas futures on Thursday. Earthquakes near the Groningen field in the Netherlands have damaged thousands of homes over the years. The six-decade operation has been an important energy source for much of Western Europe. Europe has since stockpiled natural gas to levels not seen in years, helped by a mild winter, but this summer's hot weather is boosting demand, while outages in Norwegian gas fields and increased competition for liquefied natural gas are also adding to price pressures.

Persons: —, Mark Rutte Organizations: Bloomberg, Earthquakes, Service Locations: Groningen, Netherlands, Western Europe, Europe, Russia, Ukraine

☆ Why finding a camp for your kid is this summer's madness
▼ + stars: | 2023-06-13 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

NEW YORK, June 13 (Reuters) - For American kids, summer camps can conjure up some idyllic experiences: Canoeing on lakes, munching on s’mores by campfires. THE EARLY BIRD GETS THE WORMMany day camps open registration in January, February and March, and overnight camps often start the previous fall. Indeed, in 2022 the average day camp cost rose to $87 per day, and the average overnight camp to $172 a day, according to an ACA survey of participating camps. “Investigate if your employer provides any summer camp assistance as part of their benefits package. Says Rosenberg: “Summer camp is hot again.”Editing by Lauren Young Follow us @ReutersMoneyOur Standards: The Thomson Reuters Trust Principles.

Persons: ”, Ellen Sheng, it’s, ” Sheng, “, Tom Rosenberg, Rosenberg, ” Rosenberg, Anna Sergunina, ” Sergunina, Hunt, Says Rosenberg, Lauren Young Organizations: YORK, campfires, American Camp Association, YMCA, “, Thomson, Reuters Locations: Summit , New Jersey, Greater New York, Los Gatos , California

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