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☆ Spanish government urges soccer boss suspension after mild court ruling
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

Rubiales caused a storm when he kissed player Jenni Hermoso on the lips after Spain's victory in the women's World Cup in Sydney. He also grabbed his crotch while standing feet away from Spain's Queen Letizia and her 16-year-old daughter. World soccer governing body FIFA has already suspended Rubiales from all football-related activities for three months while it investigates, but the CSD said it would move ahead with its own case regardless. Hermoso has said she did not consent to the kiss and felt "vulnerable and the victim of an aggression". Spain's Olympic chief said on Friday Rubiales' actions were "inappropriate, unacceptable" and did not represent Spanish sport as a whole.

Persons: Pedro Sanchez, Royal Spanish Football Federation Luis Rubiales, Juan, TAD, Luis Rubiales, Rubiales, Jenni Hermoso, Letizia, Miquel Iceta, Hermoso, Luis de la Fuente, Jessica Jones, Fernado Kallas, Emma Pinedo, David Latona, Andrei Khalip, Frances Kerry, Peter Graff Organizations: Soccer Football, FIFA, Spain's, Moncloa, Royal Spanish Football Federation, Sports Council, Administrative, El Mundo, Prosecutors, Thomson Locations: New Zealand, Madrid, Spain, MADRID, Sydney

☆ Luis Rubiales: what to know about the World Cup kiss scandal
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +4 min

[1/2] FILE PHOTO-Soccer Football - FIFA Women's World Cup Australia and New Zealand 2023 - Spain's Prime Minister Pedro Sanchez receive the World Cup champions - Moncloa Palace, Madrid, Spain - August 22, 2023 President of the Royal Spanish Football Federation Luis Rubiales REUTERS/Juan Medina/File Photo Acquire Licensing RightsAug 30 (Reuters) - Luis Rubiales, president of the Spanish soccer federation (RFEF), has stirred a furore by kissing midfielder Jenni Hermoso during the Women's World Cup trophy presentation. Rubiales sacked Spain manager Julen Lopetegui two days before their 2018 World Cup campaign in Russia because the coach had a pre-agreement to join Real Madrid after the tournament. There was further controversy last year when members of the Spanish women's team mutinied against their coach Jorge Vilda. The RFEF backed Vilda who then cut 12 of the 15 players involved from the squad that went on to win the World Cup. Rubiales' actions on World Cup final day, and later defiance, have brought a torrent of public criticism in Spain and elsewhere, but also a backlash in some circles against feminism.

Persons: Pedro Sanchez, Royal Spanish Football Federation Luis Rubiales, Juan Medina, Luis Rubiales, Jenni Hermoso, Rubiales, Julen Lopetegui, Jorge Vilda, Vilda, Letizia, Sofia, peck, Yolanda Diaz, Irene Montero, Xavi Hernandez, Angeles Bejar, TAD, Trevor Stynes, Andrew Cawthorne Organizations: Soccer Football, FIFA, Spain's, Moncloa, Royal Spanish Football Federation, Royal Spanish Football Federation Luis Rubiales REUTERS, WHO, Hamilton Academical, Association of Spanish, Real Madrid, Spanish, England, Reuters, Sports Council, Administrative, Thomson Locations: New Zealand, Madrid, Spain, Spanish, Scotland, Russia, Australia, Barcelona, Motril

☆ Broadcom's post-earnings pullback doesn't shift the fundamentals. It's a buying opportunity
▼ + stars: | 2023-08-31 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Excluding these AI-related sales, semiconductor sales have largely stabilized around the $6 billion level and management continues to think that a "soft landing" is still in the cards. In fact, networking revenue was up 20% versus the year ago period and now represents 40% of revenue at the company's semiconductor segment. Elsewhere within semiconductor solutions, wireless revenues (24% of segment revenue) were flat year-over-year, as was revenue for server storage connectivity (17% of segment revenue). Broadband sales (16% of segment revenue) moderated to 1% year-over-year growth following nine-consecutive quarters of double-digit growth. Industrial sales (about 3% of segment revenue) were down 3% year-over-year.

Persons: Hock Tan, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson Organizations: Semiconductor, Broadcom, Revenue, VMWare, Club, Management, Outlook Management, CNBC

☆ Luis Rubiales: Spain's government presses for suspension of soccer chief Luis Rubiales after unwanted kiss. What's next?
▼ + stars: | 2023-08-29 | by ( George Ramsay Benjamin Brown Patrick Sung | George Ramsay | Benjamin Brown | ) edition.cnn.com time to read: +5 min

CNN —The Spanish government has taken further steps toward suspending beleaguered soccer chief Luis Rubiales after submitting all necessary documentation to the country’s Court of Arbitration of Sport (TAD). The development comes as pressure continues to mount on Rubiales ever since he gave an unwanted kiss to soccer star Jennifer Hermoso after Spain won the World Cup final on August 20. A government statement released on Tuesday said that Rubiales displayed “unacceptable behavior” at the Women’s World Cup final and called his actions “very serious” violations of the country’s Law of Sport. On Monday, all 19 regional presidents called for Rubiales to resign while also offering unanimous support for Rocha, who stepped into the role following Rubiales’ suspension by FIFA. Along with mounting public pressure to resign, Rubiales also faces an investigation that could end in sexual aggression charges from Spanish prosecutors.

Persons: Luis Rubiales, TAD, Jennifer Hermoso, Rubiales, “, ”, Hermoso, Miquel Iceta, Iceta, Pedro Rocha, Rocha, Víctor Francos, ” Francos, ” Paloma Torres, ” Inés, Isabel Fuentes, Fuentes, Ángeles, Rubiales ’ Organizations: CNN, Spain, FIFA, Spanish, of Sport, country’s, England, ’, Rubiales, ” Locations: country’s, Madrid, Spain, Sydney, ”, Spanish, Rubiales, Motril

☆ Luis Rubiales: What investigations could the Spanish soccer chief face?
▼ + stars: | 2023-08-28 | by ( Emma Pinedo | ) www.reuters.com time to read: +4 min

The prosecutor at the Spanish High Court, which has jurisdiction as the soccer final was abroad, has received several complaints alleging possible sexual aggression. The High Court prosecutor said on Monday the office would contact Hermoso to ask her if she wants to formalise a criminal complaint. World soccer governing body FIFA suspended Rubiales from all football-related activities for three months with immediate effect on Saturday. The Spanish government has strongly condemned Rubiales' actions but can not directly suspend or remove Rubiales from his post as president of the Spanish Royal Football Federation (RFEF), which is a private institution. Although Rubiales is already suspended, Spain's CSD said it would move ahead with its own case regardless.

Persons: Royal Spanish Football Federation Luis Rubiales, Kim Hong, Luis Rubiales, Jenni Hermoso's, Hermoso, Rubiales, Queen Letizia, Sofia, TAD, Emma Pinedo, Andrei Khalip, Alison Williams Organizations: Soccer Football, FIFA World, Qatar, Khalifa, Royal Spanish Football Federation, REUTERS, Rights, Spanish, Court, High, FIFA, Spanish Royal Football Federation, Sports Council, Friday, Spain's women's, Administrative, Rubiales, Thomson Locations: Japan, Spain, Doha, Qatar, Spanish

☆ China's big internet names have mostly beat. Here's where analysts think the stocks are headed
▼ + stars: | 2023-08-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

All three stocks have double-digit gains ahead of them, if the average FactSet analyst price target holds true. Still, the average price target rose by 2.4% to $118.90 a share, according to FactSet. KraneShares CSI China Internet ETF (KWEB) gained nearly 19% last month. "We expect the stock will remain volatile in the near term along with China internet peers on macro uncertainty," the report said. Loop has a $210 price target on Baidu, more than 50% above where shares closed on Friday.

Persons: Tencent, –, Louis, Vincent, Jiong Shao, Nomura, Jialong Shi, Morgan Stanley, Alex Poon, NetEase, Rob Sanderson, — CNBC's Michael Bloom Organizations: Baidu, UBS, Hong, Barclays, China Internet, CSI China Internet Locations: U.S, Europe, China, Hong Kong, Barclays China, Tencent

☆ Palo Alto Networks rewards our faith in the stock, leading us to adjust our price target
▼ + stars: | 2023-08-21 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Palo Alto Networks (PANW) shares jumped more than 15% on Monday, clawing back in one session most of the damage they incurred since the beginning of August. PANW YTD mountain Palo Alto Networks YTD performance Bottom line The concern over whether a summer Friday evening earnings release might mean bad news proved unwarranted. Palo Alto Networks delivered largely better-than-expected quarterly numbers, with even better guidance for the current quarter (fiscal 2024 first quarter), full-year fiscal 2024, and beyond. Roadmap for AI Palo Alto management also talked about how artificial intelligence will revolutionize their ability to safeguard computer networks and catch hackers in the act of a breach. Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.

Persons: clawing, That's, Nikesh Aurora, Fortinet, billings, we're, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Palo Alto Networks, Revenue, Refinitiv, billings, Alto Networks, Management, Alto, Palo, Billings, TAM, CNBC, Bloomberg, Getty Locations: Palo, billings, Palo Alto, Santa Clara , California, U.S

☆ Zero-day-options, weak technicals and China: Breaking down the market’s August headwinds
▼ + stars: | 2023-08-17 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

"The S & P is not quite there, but we would be very surprised if it doesn't follow the NDX's lead." On top of that, some are worried that another real estate crisis in China may be brewing. "It's been almost two years since China Evergrande Group, once China's largest real estate developer, shocked the financial markets by defaulting on $340 billion in debt. Since then, the Chinese real estate market has been in a serious slump," wrote Ed Yardeni of Yardeni Research. Investment in real estate fell 8.5% y/y during the first seven months of this year."

Persons: Goldman Sachs, Scott Rubner, Rubner, 0DTE, Technicals, Wolfe, Rob Ginsberg, Ginsberg, It's, Ed Yardeni, we're, Sarat Sethi, Johnson, Sethi, CNBC's, — CNBC's Michael Bloom Organizations: Wolfe Research, Nasdaq, China Evergrande Group, Yardeni, Investment, U.S, JPMorgan Locations: China, U.S, Freeport, McMoRan, Haleon

A child plays the game "Honour of Kings" by Tencent at home in Dezhou, Shandong province, China July 2, 2017. REUTERS/Stringer Acquire Licensing RightsHONG KONG, Aug 17 (Reuters Breakingviews) - China's economic woes have gifted Tencent (0700.HK) an unexpected silver lining. Revenue rose a decent 11% to 149 billion yuan ($20.4 billion), but fell slightly short of the average analyst forecast compiled by Refinitiv. That compares to the 151.7 billion yuan average analyst forecast of 21 analysts compiled by Refinitiv. Adjusted net profit, after excluding certain one-time and non-cash items, rose 33% to 37.5 billion yuan.

Persons: Tencent, Stringer, HONG KONG, Refinitiv, James Mitchell, pare, Alibaba, Antony Currie, Thomas Shum Organizations: REUTERS, Reuters, HK, Revenue, Tencent, Citi, Refinitiv, Thomson Locations: Dezhou, Shandong province, China, HONG, Tencent, Hong Kong

☆ China’s ‘Ticking Time Bomb’ Economy
▼ + stars: | 2023-08-12 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Review and Outlook: A joint naval patrol near the Aleutian islands is a warning and a test for the U.S. Images: Zuma Press/Alaska Volcano Observatory/Associated Press Composite: Mark KellyThe political world has finally awakened to China’s economic woes, with President Biden popping off this week that it’s “a ticking time bomb.” That may overstate things a tad. But the evidence has been building for years that much of China’s economic growth was a debt-inflated bubble, and this week another Chinese property developer defaulted on some of its debt.

Persons: Mark Kelly, Biden Organizations: Zuma Press, Associated Locations: Alaska

☆ Deutsche Telekom lifts 2023 guidance slightly again
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +1 min

The logo of Deutsche Telekom is pictured at the GSMA's 2023 Mobile World Congress (MWC) in Barcelona, Spain February 28, 2023. REUTERS/Nacho Doce/File PhotoSummaryCompanies Now sees 2023 EBITDA AL of 41.0 bln euros vs 40.9 blnQ2 EBITDA AL 10.04 bln euros vs consensus 10.02 blnQ2 revenues 27.2 bln euros vs consensus 27.3 billionBERLIN, Aug 10 (Reuters) - Deutsche Telekom (DTEGn.DE) slightly lifted its 2023 operating profit target a second time on Thursday, boosted by its U.S. business T-Mobile US (TMUS.O), which raised its outlook for customer growth two weeks ago. Bonn-based parent Telekom said it now expects adjusted earnings before interest, taxes, depreciation and amortization after leases (EBITDA AL) to reach around 41 billion euros ($45.03 billion) this year, compared with previous guidance for about 40.9 billion. The group reported second-quarter EBITDA AL that rose 1.5% year-on-year to 10.04 billion euros, a tad above analyst consensus for 10.02 billion. Revenues slipped by 2.4% to 27.2 billion euros, slightly below consensus for 27.3 billion, as it withdrew from the terminal equipment business in the U.S. following its takeover of rival Sprint in 2020.

Persons: Nacho, Maria Sheahan, Friederike Heine Our Organizations: Deutsche Telekom, Congress, REUTERS, Mobile, Telekom, Sprint, Thomson Locations: Barcelona, Spain, U.S, Bonn

☆ Biden Declares Disaster for Maui
▼ + stars: | 2023-08-10 | by ( Jonathan Wolfe | More About Jonathan Wolfe | ) www.nytimes.com time to read: +1 min

Biden declares disaster for MauiPresident Biden issued a major disaster declaration for Maui as evacuation centers filled and tourists fled from the island in the wake of a fast-moving wildfire. The death toll climbed to 36, and hundreds of buildings were damaged in the tourist town of Lahaina and elsewhere on the western coast. Tad Craig, a wedding photographer who saw the wildfire on Tuesday in Lahaina, said gas tanks were exploding and smoke was blowing sideways. The fire, which officials said had been largely contained, prompted officials to evacuate 11,000 tourists from Maui, whose economy relies on tourism. Officials have strongly discouraged people from traveling to the island, one of America’s most beloved tourist destinations, while the crisis continues.

Persons: Biden, Tad Craig, ” Organizations: Maui, Flames, U.S . Coast Guard, Officials Locations: Maui, Lahaina

LAUNCESTON, Australia, Aug 8 (Reuters) - China's imports of major commodities lost momentum in July in a further sign that the world's second-biggest economy is struggling to boost flagging growth. While June's imports were the second-highest on record, the July outcome was the weakest since October last year on a barrels per day basis. In the first seven months of 2023, China's copper imports slid 10.7% to 3.04 million metric tons. Iron ore imports dropped to 93.48 million metric tons in July, down 2.1% from June's 95.52 million. For the first seven months of the year China's coal imports came in at 261 million metric tons, some 86% above the same period in 2022.

Persons: It's, Brent, China's, Lincoln Organizations: Administration of Customs, Brent, Reuters, Thomson Locations: LAUNCESTON, Australia, China

☆ Looming inflation report could hold an unpleasant surprise for markets
▼ + stars: | 2023-08-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

The central bank district's Inflation Nowcast model points to a 0.4% rise that would equate to a 3.4% annual rate. "Rent could be an important source of a positive (moderating) surprise in July's CPI," Yardeni wrote. 'Sticky' inflation persists But inflation has proven more persistent than most policymakers, particularly those at the Fed, would have thought. In fact, the Atlanta Fed's sticky CPI is still at 5.8% on a 12-month basis — though 2.9% at an annualized pace — after peaking at 6.7% earlier this year. Moreover, Thursday's core CPI reading is expected to show core inflation running at a 4.7% annual level, just a tad below the June reading.

Persons: Dow Jones, it's, Ed Yardeni, Goldman Sachs, Morgan Stanley, Lisa Shalett, Shalett, Morgan, Yardeni, Jerome Powell, Andrew Hollenhorst, Hollenhorst, Solita Marcelli Organizations: Cleveland Federal Reserve, Yardeni Research, JPMorgan Chase, Bank of America, Citigroup, Morgan Stanley Wealth Management, CPI, Cleveland Fed, UBS Locations: U.S, Atlanta

The yield on the 10-year benchmark note dipped on Friday after the jobs data, but still remained above 4%, partly boosting some megacap stocks. "At this point in some ways the jobs data doesn't do much to the Fed. Giving solid boost to the S&P 500 index, Amazon.com shares (AMZN.O) surged 10.9% after the company issued an upbeat third-quarter outlook. Of the 422 companies in the S&P 500 that have reported quarterly earnings as of Friday, 79.1% have beat analysts' estimates, according to Refinitiv data. Amgen (AMGN.O) gained 6.2% after it reported a higher quarterly profit on strong sales of its cholesterol, osteoporosis and other drugs.

Persons: Brendan McDermid, David Russell, Stocks, Carl Icahn, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Organizations: New York Stock Exchange, REUTERS, Apple, Dow, Nasdaq, Labor Department, Data, Reuters, Fed, Treasury, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Wall Street looks past AMD's light guide, leading us to make a price target change
▼ + stars: | 2023-08-01 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Club name Advanced Micro Devices (AMD) delivered better-than-expected second-quarter results after the closing bell Tuesday, leading us to make a price target change. Revenue fell 18% year over year to $5.36 billion but outpaced the Street's expectation of $5.31 billion, according to estimates compiled by Refinitiv. Wall Street seems to think so as well, bidding up the chipmaker's stock in after-hours trading by more than 2%. The MI300A is designed to address High-Performance Computing (HPC) and AI workload needs, while the MI300X is designed specifically for generative AI applications. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we're, —, Jim Cramer's, Jim Cramer, Jim, Lisa Su, Robyn Beck Organizations: Devices, Revenue, Refinitiv, AMD, Management, Club, Nvidia, Data, PlayStation, Vision, Healthcare, Automotive, CNBC, Consumer Electronics, Afp, Getty Locations: Las Vegas , Nevada

Mortgage rates climbed throughout the first half of July, with average 30-year mortgage rates nearing 7%. Lower mortgage rates will provide some affordability to potential homebuyers who have been waiting to enter the market. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate is currently 6.81%, according to Freddie Mac. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.11% right now, according to Freddie Mac data.

Persons: Freddie Mac, it's Organizations: Mortgage, Zillow Locations: Chevron

☆ Malaysia reverses plan to take legal action against Meta over harmful content
▼ + stars: | 2023-07-28 | by ( Rozanna Latiff | ) www.reuters.com time to read: +3 min

KUALA LUMPUR, July 28 (Reuters) - Malaysia may not go through with a plan to take legal action against Facebook parent Meta Platforms (META.O) following "positive" engagement with the firm on tackling harmful content on the social media platform, communications minister Fahmi Fadzil said in an interview on Friday. "I don't think MCMC needs at this point in time to initiate any legal action. I think this level of cooperation is very positive," he said, adding that the government was considering measures such as fines against social media platforms if they failed to tackle harmful content. Facebook is Malaysia's biggest social media platform, with an estimated 60% of the country's 33 million people having a registered account. The take-downs, he said, were likely to have been made in response to complaints made by ordinary users for violating social media guidelines.

Persons: Fahmi Fadzil, Fahmi, Meta, Anwar Ibrahim's, Rozanna Latiff, Angus MacSwan Organizations: Facebook, Malaysian Communications and Multimedia Commission, Meta, Malaysian, Digital Nasional Berhad, Thomson Locations: KUALA LUMPUR, Malaysia, Malay

☆ With quarterly beat, Procter & Gamble flexes its ability to win in any economy
▼ + stars: | 2023-07-28 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Procter & Gamble (PG) showed once again its ability to raise prices on its many household staples without damaging sales volume — one of the key reasons to own this stock in an uncertain economic environment. The company also delivered organic growth in all product categories and across all geographies in which it operates. Foreign exchange was a 3 percentage point headwind not reflected in organic growth. At the company level, the team has now notched seven straight quarters of 5% or better organic sales growth. Notably, all 10 major product categories posted organic sales growth in the quarter, with five growing double digits.

Persons: Gillette —, it's, Jim Cramer's, Jim Cramer, Jim, Proctor, Tiffany Hagler Organizations: Procter, Gamble, Tide, Management, Enterprise, CNBC, Gamble Co, Geard, Bloomberg, Getty Locations: buybacks, U.S, China, Europe, America, Hastings, Hudson , New York

☆ Sharp Chinese rebound pushes LVMH sales up 17% in second quarter
▼ + stars: | 2023-07-25 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

PARIS, July 25 (Reuters) - Sales at the world's top luxury group LVMH (LVMH.PA) rose by 17% in the second quarter, with a sharp rebound in China helping to offset a decline in the United States, where inflation and economic turbulence have dented demand for high-end goods. The 17% increase at constant exchange rates was a touch better than analyst expectations for 16% growth, according to a Visible Alpha consensus. Finance chief Jean-Jacques Guiony told reporters he was "very satisfied" with the rebound in China, which makes up the bulk of Asian sales. The region - excluding Japan - posted 34% growth compared to last year, when strict COVID-19 restrictions hit sales and emptied stores in China. In the United States, we see it's not as good as it was," he added.

Persons: Louis Vuitton, Hennessy, Tiffany, Jean, Jacques Guiony, Cartier, Richemont, Guiony, Mimosa Spencer, Silvia Aloisi Organizations: Dior, Finance, Vuitton, Thomson Locations: China, United States, Japan

☆ Opinion | Rebooting Ron
▼ + stars: | 2023-07-24 | by ( Michelle Cottle | ) www.nytimes.com time to read: +2 min

The candidate needs to lock down savvy people he trusts and will listen to, even as he jettisons the troublemakers. When Mr. McCain cut loose a couple of his top advisers in 2007, several senior staff members followed them out the door. This is when a candidate really needs to step up and impose order. The harsh reality of reboots is that some presidential hopefuls are just too out of step with the political moment to rescue. By the fall of 2015, Team Jeb was slashing staff and hoping for the debates to help him win free media.

Persons: McCain, John Kerry, Howard Dean, Trump, Bush strode, Trump’s, Jeb Organizations: New, NBC, Kerry, Trump Locations: New Hampshire, Iowa

☆ Developing Asia on track to grow faster in 2023 - ADB
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

MANILA, July 19 (Reuters) - Developing Asia is on track to grow faster in 2023 from a year earlier as strong consumption and investment offset the impact of weak global demand, the Asian Development Bank (ADB) said on Wednesday. In an update to its regional economic outlook, the ADB kept its 2023 growth forecast for developing Asia at 4.8%, but revised a tad lower its estimate for next year to 4.7% from 4.8% in April, reflecting risks, including from Russia's war on Ukraine. Developing Asia consists of 46 economies in the Asia-Pacific and excludes Japan, Australia and New Zealand. The ADB maintained its growth projections for subregions East Asia and South Asia, with China and India still expected to expand 5.0% and 6.4% this year, respectively, and 4.5% and 6.7% in 2024, but trimmed slightly its outlook for Southeast Asia. An upside risk to the growth outlook of developing Asia is slower inflation, which has allowed most central banks in the region to hold off tightening, helping underpin domestic consumption.

Persons: Karen Lema, Martin Petty Organizations: Asian Development Bank, ADB, East, Thomson Locations: MANILA, Asia, Ukraine, Pacific, Japan, Australia, New Zealand, East Asia, South Asia, China, India, Southeast Asia

☆ The weather is so chaotic that tourists are risking their lives to take selfies with a giant thermometer in Death Valley
▼ + stars: | 2023-07-19 | by ( Cork Gaines | ) www.businessinsider.com time to read: +3 min

People are flocking to the hottest spot of them all in Death Valley, where temps are exceeding 130. But the hottest spot of them all is Death Valley National Park, the famously scorching location on the border of California and Nevada. Tourists in Death Valley. Earlier this month, a 65-year-old man was found dead in his car in Death Valley. A sign warns people not to walk outside in Death Valley after 10 am.

Persons: John Locher, Ty ONeil Organizations: Service, MSNBC, Weather, National Weather Service, National Park Service Locations: Death, Wall, Silicon, Phoenix, Europe, California, Nevada, Death Valley

☆ New Aussie central bank boss faces two-front war
▼ + stars: | 2023-07-14 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

MELBOURNE, July 14 (Reuters Breakingviews) - Michele Bullock cannot count on a honeymoon period when she takes over at the Reserve Bank of Australia in September. The country’s Treasurer Jim Chalmers on Friday unveiled her appointment as the central bank’s first female governor after deciding not to extend gaffe-prone Philip Lowe’s seven-year tenure. By the time she steps up, Bullock, currently deputy governor, will probably face an economic war on two fronts. Lowe is a fall guy for the failure by global central banks to take rising prices seriously following the pandemic. Follow @AntonyMCurrie on TwitterCONTEXT NEWSMichele Bullock will be the next governor of the Reserve Bank of Australia, the country’s Treasurer Jim Chalmers announced on July 14.

Persons: Michele Bullock, Jim Chalmers, Philip Lowe’s, Bullock, Lowe, Chalmers, Philip Lowe, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Reserve Bank of Australia, Consumer, Thomson Locations: Australia

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