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☆ German authorities search BNY Mellon bank in cum-ex probe
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Nov 22 (Reuters) - German authorities searched the Frankfurt office of bank BNY Mellon (BK.N) on Tuesday in connection with an ongoing investigation into the multi-billion euro tax fraud scheme known as "cum-ex", the bank said. "BNY Mellon's Frankfurt office was visited today by the German authorities," said the bank. "We continue to cooperate fully with the authorities in an ongoing investigation relating to legacy tax matters. There has been no interruption to services that we provide to clients," it added in an email. Reporting by Marta Orosz Writing by Madeline Chambers Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Indonesia's Indika, Taiwan's Foxconn mull EV partnership with Thai firm
▼ + stars: | 2022-11-16 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +2 min

JAKARTA, Nov 16 (Reuters) - Coal miner PT Indika Energy (INDY.JK) and Taiwan-based Foxconn (2317.TW), which are partnering to make electric vehicles in Indonesia, are considering bringing in a Thai firm as a third partner, Indika's top executive told Reuters on Wednesday. Arsjad Rasjid, President Director of Indonesian miner Indika, declined to name the Thai company nor any target for the completion of the partnership due to ongoing negotiations, but said the three could invest in EV or EV battery production. In September, Indika and Foxconn launched a $2 billion joint venture to make EVs, batteries and energy storage in Indonesia. Foxconn, Apple's biggest iPhone maker, also has a $1 billion joint venture with Thai energy group PTT (PTT.BK) to produce battery EVs. Indika is one of the top coal miners in Indonesia, which is the world's biggest coal exporter.

☆ There will be 'ongoing demand' to sell the Japanese yen, says asset management firm
▼ + stars: | 2022-11-16 | 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 EmailThere will be 'ongoing demand' to sell the Japanese yen, says asset management firmKathy Lien of BK Asset Management says the weakness of the currency is good for Japan's economy and the Bank of Japan is fighting with "dual forces" right now.

☆ Thai Airways to name new CEO as early as Jan 2023, acting head says
▼ + stars: | 2022-11-11 | by ( Chayut Setboonsarng | ) www.reuters.com time to read: +1 min

BANGKOK, Nov 11 (Reuters) - Thai Airways International PCL (THAI.BK) expects to name a new permanent CEO as early as January 2023 as it proceeds with a pandemic-driven restructuring plan, the airline's acting chief executive said on Friday. "There were nearly 50 applicants," acting CEO Suvadhana Sibunruang told Reuters on the sidelines of an industry gathering in Bangkok, saying a decision would be made early next year. Thai Airways entered bankruptcy protection last year to restructure 400 billion baht ($11.1 billion) in debt and has shed around half of its workforce and aircraft fleet. The carrier previously said Thai state agencies will own about 40% of the airline after restructuring, down from current levels of 67%. The airline on Friday reported a third-quarter loss of 4.79 billion baht, down from a 40 billion baht profit the prior year that included a large one-off gain from the restructuring plan.

☆ Buffett's Berkshire sheds large portion of US Bancorp stake
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

In a regulatory filing, Berkshire said it owned just over 53 million U.S. Bancorp shares, for a 3.6% stake, on Oct. 31, down from 144.7 million shares, or 9.8%, on Dec. 31, 2021. Berkshire began investing in the Minneapolis-based bank in 2006, according to regulatory filings. U.S. Bancorp and Buffett's assistant did not immediately respond to requests for comment after market hours. Berkshire owned $126.5 billion of the iPhone maker's shares on Sept. 30. On Nov. 14, Berkshire is expected in a regulatory filing to disclose more information about its U.S.-listed stock holdings.

☆ I would be very surprised if we see any 75 bps rate hikes this cycle, says BK's Schlossberg
▼ + stars: | 2022-11-11 | 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 EmailI would be very surprised if we see any 75 bps rate hikes this cycle, says BK's SchlossbergBoris Schlosssberg, foreign exchange strategy managing director at BK Asset Management, joins 'Power Lunch' to discuss if we've seen the strength of the dollar peak, some of the names that could stand to benefit today and more.

☆ Here are Friday's biggest analyst calls: Roblox, WeWork, Krispy Kreme, Boeing, Coinbase & more
▼ + stars: | 2022-11-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Roblox as buy Bank of America said it's standing by shares of the stock heading into earnings next week. JPMorgan downgrades Funko to neutral from overweight JPMorgan downgraded the pop culture toy company, noting it sees too much uncertainty. " Piper Sandler downgrades Atlassian to neutral from overweight Piper said it sees a slowdown in subscription billings for the software developer. " Bank of America reiterates Krispy Kreme as buy Bank of America said "brand health is strong but FX, UK, promos weigh," heading into Krispy Kreme earnings Nov. 15. Jefferies reiterates Topgolf Callaway Brands as buy Jefferies said it sees 200% upside in shares of the golf company. "

☆ Friday's three stock lunch: DKNG, SBUX and SQ
▼ + stars: | 2022-11-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFriday's three stock lunch: DKNG, SBUX and SQBoris Schlossberg, managing director of FX strategy at BK Asset Management, joins ''Power Lunch" to share his three stock lunch picks: DraftKings, Starbucks, and Block Inc.

☆ Google veteran launches 'digital family office' backed by Betsy Cohen, Eric Schmidt
▼ + stars: | 2022-11-02 | by ( Hannah Lang | ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - Arta Finance, a fintech that aims to replicate the family office experience for a wider audience through artificial intelligence, debuted on Wednesday with $90 million in funding from investors who include Betsy Cohen and former Google (GOOGL.O) chief Eric Schmidt. While family offices cater to those with hundreds of millions in assets, Arta is targeting those with $100,000 to several million dollars in investable assets, Sengupta said. BNY Mellon's (BK.N) Pershing will serve as Arta's broker and custodian and offer credit lines to eligible investors. "We're actually really trying hard to scale as much as we can to get to as many people who we can serve," said Sengupta. Reporting by Hannah Lang in Washington; Editing by Lananh Nguyen and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

BANGKOK, Oct 27 (Reuters) - A Thai celebrity media tycoon, transgender rights advocate and new owner of the Miss Universe beauty pageant wants to use the event to inspire women like her and boost tourism. She bought the Miss Universe Organisation on Wednesday for $20 million, marking the first time the beauty pageant organiser has been owned by a woman, her company said. REUTERS/Athit Perawongmetha 1 2 3 4She said Miss Universe can promote Thailand's Five F-factors tourism campaign, boosting fighting (Thai boxing), film, festival, fashion and food. “Every country - not just Thailand - will get tourism income when you are the (pageant) host country,” Jakapong said. Other plans for Miss Universe include licensing and merchandising opportunities, including integration with JKN’s own businesses like fashion, beverages and cosmetics.

☆ 'Mr. Yen' says the currency could plunge further — and 170 per dollar is 'well on the scope'
▼ + stars: | 2022-10-26 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

Toru Hanai | Bloomberg | Getty ImagesThe Japanese currency could weaken even further to 170 levels against the U.S. dollar next year, according to Japan's former vice minister of finance for international affairs, Eisuke Sakakibara. Commenting on reports of yet another intervention being conducted by officials late last week, Sakakibara said, "Most of the business people are now expecting further depreciation of the yen. Sakakibara's forecast for the yen comes as Japanese officials remain tight-lipped on publicly confirming a second intervention taking place to defend the currency. watch nowA majority of economists polled by Reuters expected no change to the nation's dovish monetary policy in its next meeting slated for Thursday. 'A history of failed interventions'Even if authorities continue to intervene to defend its currency, it won't have much of an effect, Sakakibara said.

☆ Thai businesswoman buys Miss Universe pageant for $20 mln
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Oct 26 (Reuters) - A Thai celebrity media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, marking the first time the beauty pageant organiser will be owned by a woman, her company said on Wednesday. She has been outspoken about her experience as a transgender woman and also set up the Life Inspired For Thailand Foundation to advocate for the rights to dignity and opportunities for transgender people. The acquisition is "a strong, strategic addition to our portfolio," said Jakapong, adding that Miss Universe, with its content, licensing and merchandising opportunities, plans to expand in Asia. JKN produces its own shows and distributes content in Thailand from abroad including documentaries and Bollywood dramas. The annual beauty contest run by the Miss Universe Organisation, which was co-owned by Donald Trump between 1996 and 2002, is broadcast in 165 countries and has been running for 71 years.

☆ Three Stock Lunch: Tesla, Alibaba and Starbucks
▼ + stars: | 2022-10-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree Stock Lunch: Tesla, Alibaba and StarbucksBoris Schlossberg, BK Asset Management, joins 'Power Lunch' to discuss his investing take on three stocks: Tesla, Alibaba and Starbucks.

☆ Japan's central bank really needs to raise interest rates, says strategist
▼ + stars: | 2022-10-21 | 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 EmailJapan's central bank really needs to raise interest rates, says strategistKathy Lien of BK Asset Management says the Bank of Japan is "running out of options at this stage."

☆ Expect British pound to see a U-turn: BK Asset Management's Lien
▼ + stars: | 2022-10-20 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect British pound to see a U-turn: BK Asset Management's LienBK Asset Management's Kathy Lien on the yen vs. the U.S. dollar. With CNBC's Carl Quintanilla and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan and Guy Adami.

☆ Thai telco regulator gives conditional clearance to True, DTAC merger
▼ + stars: | 2022-10-20 | by ( Chayut Setboonsarng | Andres Gonzalez | ) www.reuters.com time to read: +2 min

BANGKOK, Oct 20 (Reuters) - Thailand’s telecommunications regulator cleared the merger of the country’s second and third largest mobile operators, True Corporation Pcl (TRUE.BK) and Telenor ASA’s (TEL.OL) Total Access Communication Pcl (DTAC) (DTAC.BK) with conditions. The combined entity will overtake Advanced Info Service Pcl (AIS) (ADVANC.BK), as market leader. True, DTAC and AIS did not immediately respond to requests for commentDTAC is backed by Norwegian firm, Telenor. Thai agri-industrial conglomerate Charoen Pokphand Group holds a 49% stake in True Corp with China Mobile holding 18%, True’s website shows. Register now for FREE unlimited access to Reuters.com RegisterReporting by Chayut Setboonsarng; Editing by Susan Fenton;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street rallies after BofA results, UK reversal
▼ + stars: | 2022-10-17 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. Register now for FREE unlimited access to Reuters.com RegisterFellow financial Bank of NY Mellon Corp (BK.N) also benefited from higher interest rates, and its shares climbed 5.08%. The S&P 500 banks index (.SPXBK) was up 3.48%, while each of the 11 major S&P 500 sector were higher. Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are among companies expected to report results later in the week. The S&P 500 posted no new 52-week highs and 2 new lows; the Nasdaq Composite recorded 83 new highs and 146 new lows.

☆ Wall Street jumps after BofA results, UK reversal
▼ + stars: | 2022-10-17 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. Fellow financial Bank of NY Mellon Corp (BK.N) also benefited from higher interest rates, and its shares climbed 5.23%. Overall, higher rates boosted interest incomes for lenders in the third quarter, giving investors hope the current earnings season will be better-than-feared. The S&P 500 Growth index (.IGX) gained 3.57%,Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are also expected to report results later in the week. The S&P 500 posted no new 52-week highs and 2 new lows; the Nasdaq Composite recorded 65 new highs and 122 new lows.

Register now for FREE unlimited access to Reuters.com Register"This is a direct result of higher interest rates offered by the banks looking very attractive compared to other risk assets. Bank of NY Mellon Corp (BK.N) also benefited from higher rates, sending its shares up 6.1%. Overall, higher rates boosted interest incomes for lenders in the third quarter but turbulent markets choked off dealmaking and banks set aside more funds to brace for an economic slowdown. read moreThe S&P 500 banks index (.SPXBK) was up 3.8%. All the 11 S&P 500 sector indexes were higher with technology (.SPLRCT), communication services (.SPLRCL) and consumer discretionary (.SPLRCD) leading with near 3% gains each.

☆ Wall Street set to open higher as BofA rises on earnings beat
▼ + stars: | 2022-10-17 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

Bank of America Corp (BAC.N) rose 2.8% in premarket trading as the lender benefited from higher net interest income in its third quarter, even though it added $378 million to its loan-loss reserves. Register now for FREE unlimited access to Reuters.com Register"This is a direct result of higher interest rates offered by the banks looking very attractive compared to other risk assets. Bank of NY Mellon Corp (BK.N) also benefited from higher rates, sending its shares up 4.7%. Overall, higher rates boosted interest incomes for lenders in the third quarter but turbulent markets choked off dealmaking and banks set aside more funds to brace for an economic slowdown. Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are also expected to report results later in the week.

☆ Stocks making the biggest moves premarket: Continental Resources, Bank of America, Apple and others
▼ + stars: | 2022-10-17 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Bank of America (BAC) – Bank of America jumped 3.1% in premarket trading after beating top and bottom line estimates in its third-quarter earnings report. News Corp. (NWSA), Fox Corp. (FOXA) – News Corp. gained 3.5% in the premarket while Fox Corp. slid 4.1%. Meta Platforms (META) – Meta is falling short of its goals for its flagship metaverse product "Horizon Worlds", according to internal documents seen by the Wall Street Journal. Goldman added 1% in premarket trading. Archaea Energy (LFG) – The natural gas producer's shares soared 51.1% in premarket trading after agreeing to be acquired by BP (BP) for $26 per share.

☆ Wall St futures higher with focus on earnings
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: Dow 0.78%, S&P 0.93%, Nasdaq 1.12%Oct 17 (Reuters) - U.S. stock index futures were higher on Monday, after a roller-coaster week, as investors focused on the third-quarter earnings season to assess the impact of decades-high inflation and rising interest rates on corporate profit. Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are also expected to report their results later in the week. Analysts now expect profit for S&P 500 companies to have risen just 3.6% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv IBES data. ET, Dow e-minis were up 231 points, or 0.78%, S&P 500 e-minis were up 33.5 points, or 0.93%, and Nasdaq 100 e-minis were up 120.75 points, or 1.12%. Investors now await another test for gilts from a new tax proposal due later in the day from Kwarteng's successor Jeremy Hunt.

☆ Tesla investors try to ignore Musk's many distractions
▼ + stars: | 2022-10-16 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

While that’s good news for Twitter’s long-suffering shareholders, Tesla investors hope he still has some time for them. There are big challenges in China as well, with Tesla going up against homegrown EV rivals like Nio (NIO), Xpeng and Li Auto. Too many distractionsGary Black, managing partner at the Future Fund and a Tesla shareholder, has been tweeting for the past few weeks that concerns about Twitter are a headache for Tesla investors. In one tweet, Black said there are several problems for Tesla due to Twitter. The underwhelming deliveries and production numbers also underscore how a slowing global economy (and possible recession) could hurt Tesla.

☆ Investing Club: The week in review, the week ahead — Oct. 14, 2022
▼ + stars: | 2022-10-14 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Club trades for the week Monday Bought 20 shares of Constellation Brands (STZ); Trust owns 390 shares of STZ. On Wednesday, the September producer price index was reported to have risen 0.4% monthly, double the expectation. On Thursday, the September consumer price index was also reported to have increased 0.4% monthly, above the expectation for a 0.3% increase. Excluding automobile sales, sales were up 0.1% slightly ahead of the expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

JPMorgan & Chase (JPM.N), Citigroup, Deutsche Bank (DBKGn.DE) and BNY Mellon act as depositary banks for most Russian depositary receipt programs, according to Clearstream. In statements to clients, some banks cited difficulties verifying there are enough shares to execute cancellations of depositary receipts. For example, BNY Mellon cited such a difficulty with Global Depositary Receipts in Russian gas company Novatek. While depositary receipts are under custody of global banks, the shares they represent are parked in Russia. Investors are meanwhile discussing ways online to meet the Russian requirements and how to pay fees to Russian banks.

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