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☆ 'I have never, ever seen anything like this' - Kevin O'Leary says Twitter rival Threads is showing unprecedented growth
▼ + stars: | 2023-07-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Kevin O'Leary praised user growth on Meta's new Threads app, which seeks to take on Twitter. "I have never, ever seen anything like this," O'Leary told CNBC on Monday evening. "I have never, ever seen anything like this," O'Leary told CNBC on Monday evening. It's similar to Elon Musk's Twitter, which has since threatened to sue Meta over the app. With Threads' growing audience, O'Leary predicted that small businesses will eventually be seeing higher returns on ad expenditures.

Persons: Kevin O'Leary, O'Leary, Mark Zuckerberg, —, Elon, Zuckerberg, Musk Organizations: Twitter, CNBC, Service, Meta, CAC Locations: Wall, Silicon, Europe

The pan-European STOXX 600 index (.STOXX) deepened losses by the close to fall 2.3% to its lowest level since late March, while the EURO STOXX 50 index (.STOXX50E) plunged 2.9%. Germany's two-year bond yield , which is highly sensitive to interest-rate expectations, rose its highest since autumn 2008, also pressuring equities. Technology stocks (.SX8P) fell 3.0%, while the real estate sector (.SX86P), which are often treated as bond proxies, tumbled 4.2%. German industrial orders rose significantly more than expected in May, due to large scale orders of ships, spacecraft and military vehicles. Embracer (EMBRACb.ST), the top loser on the STOXX 600, fell 13.8% after the gaming group raised 2 billion crowns ($182 million) in a share issue directed to institutional investors.

Persons: Chris Beauchamp, Janet Yellen's, Matteo Allievi, Shubham Batra, Shreyashi Sanyal, Sherry Jacob, Phillips, Varun, David Evans Organizations: CAC, U.S, Technology, Treasury, Thomson Locations: U.S . Federal, U.S, China, British, Gdansk, Bengaluru

The pan-European STOXX 600 index (.STOXX) dropped 1.2%, led by losses in travel and leisure (.SXTP) and retail index (.SXRP), which fell 2.3% and 2.0%, respectively. Embracer (EMBRACb.ST), the top loser on the STOXX, fell 13.8% after the gaming group raised 2 billion crowns ($182 million) in a share issue directed to institutional investors. "Now the gap between the two main central banks is closer than two months ago as Fed has moved more towards the position of the European Central Bank (ECB)." German industrial orders rose significantly more than expected in May, due to large scale orders of ships, spacecraft and military vehicles. Reporting by Matteo Allievi in Gdansk and Shubham Batra in Bengaluru; Editing by Sherry Jacob-Phillips and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: hawkish, Stuart Cole, Janet Yellen's, UK's, policmaker Joachim Nagel, Matteo Allievi, Shubham Batra, Sherry Jacob, Phillips, Varun Organizations: CAC, Equiti, Fed, European Central Bank, Treasury, policmaker, Thomson Locations: China, U.S, British, Gdansk, Bengaluru

☆ Agarkar named India's new chairman of selectors
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

July 4 (Reuters) - Former India fast bowler Ajit Agarkar has been appointed chairman of India's selection committee, the country's cricket board (BCCI) said on Tuesday. The senior selection committee, led by Chetan Sharma, had initially been sacked in November after India were knocked out of the Twenty20 World Cup in the semi-finals in Australia. Agarkar was recently a coach with Indian Premier League side Delhi Capitals but parted ways after this year's tournament. "The Cricket Advisory Committee (CAC) ... interviewed applicants for the position of one selector in the Men's Selection Committee," the BCCI said in a statement. The 45-year-old played 26 tests for India, 191 one-day internationals and four T20 matches, taking a total of 349 wickets across all formats.

Persons: Ajit Agarkar, Chetan Sharma, Sharma, Agarkar, Shiv Sundar Das, Subroto Banerjee, Salil, Sharath, Rohith Nair, Ken Ferris Organizations: BCCI, Indian Premier League, Delhi Capitals, Cricket Advisory, CAC, Thomson Locations: India, Australia, Bengaluru

☆ India’s stock market is hitting record highs. Here’s why
▼ + stars: | 2023-06-28 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

London CNN —India’s stock market is booming as investors take a chance on one of the few bright spots in a fragile global economy. The country’s stocks are so hot that India is now home to the world’s fourth most valuable equity market, behind only the United States, China and Japan. The total value of Indian equities has hit $3.5 trillion, greater than the value of Europe’s two biggest stock markets, in the UK and France, according to data from Refinitiv. Bright prospectsThe surge in Indian equities is a reflection of the strength and potential of the country’s economy, according to economists and fund managers. “The Indian equity market is the classic example of ‘expensive for a reason’,” he said.

Persons: ” Sher Mehta, ” Mehta, Sohini Kar, India Ashish Vaishnav, Pieter Elbers, Narendra Modi, Joe Biden, Apple, Lorenzo La, ”, Posta, La Posta, Gautam Adani Organizations: London CNN, United Kingdom’s FTSE, CAC, Virtuoso Economics, CNN, Monetary Fund, India, London School of Economics, Airbus, ”, Apple, Momentum Global Investment Management Locations: India, United States, China, Japan, Russia, Europe, France, Refinitiv, Mumbai, Washington, Germany

Sodexo, which is benefiting from the cost-of-living crisis as employers look for ways to support staff without hiking wages, announced in April a plan to spin off and list its voucher unit on the stock exchange in 2024, betting on the good performance of the business. Smaller French rival Edenred (EDEN.PA), which joined France's blue-chip index CAC 40 (.FCHI) on Monday, posted in April first-quarter operating revenue growth as employers used its meal tickets and fuel cards to help staff cope with inflation. Pluxee, which employs 5,000 in 31 countries, targets full-year organic revenue growth of close to 20% and an underlying operating profit margin of around 32%. Sodexo's voucher business reported a core profit of 162 million euros ($177 million) in the first half of 2023. Reporting by Federica Mileo and Diana Mandiá in Gdansk, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Aurelien Sonet, Pluxee, Sonet, Edenred, Federica Mileo, Diana Mandiá, Louise Heavens Organizations: Thomson Locations: Gdansk

The continent-wide European STOXX 600 (.STOXX) index rose 0.5%. The index gained 1.5% in the policy-packed week, its best performance in over two months. China-focused luxury stocks such as LVMH (LVMH.PA) and Richemont (CFR.S) gained nearly 3% each, boosting the broader STOXX 600. Defensive shares such as healthcare (.SXDP) gained 0.9%, and utilities (.SX6P) climbed 1.3% to a four-week peak. The STOXX 600 broke away from a restrictive 1% trading range that was seen for much of the past two weeks, as investors gradually start putting behind major central bank events.

Persons: Travis Perkins, DAX, Germany's DAX, Danni Hewson, AJ Bell, Hewson, Shreyashi Sanyal, Siddarth, Sohini Goswami, Sherry Jacob, Phillips Organizations: European Central Bank, U.S, U.S . Federal, Bank of Japan, Bank of, Britain's, Rheinmetall, Apollo Global Management, Claure Group, Thomson Locations: China, U.S ., Stockholm, Millicom, Bengaluru

The Hang Seng (HSNGY)closed 4% higher, notching its biggest one-day gain in three months. Brent crude, the benchmark for global oil prices, gained almost 1.6% to trade at $75.46 a barrel. Hang Seng reboundsIn Hong Kong, the two best-performing stocks were Chinese real estate developers Longfor Group (LNGPF) and Country Garden Services, soaring 17% and 12% respectively. Citing people familiar with the matter, Bloomberg reported Friday that China was working on such measures. Elsewhere in Asia, South Korea’s Kospi index ended the day 1.3% up, Japan’s Nikkei 225 was 1.2% higher, and the Shanghai Composite Index gained 0.8%.

Persons: Philip Jefferson, Joe Biden, “, ”, Richard Hunter, ” Dow, Germany’s DAX, DAX Organizations: London CNN — Global, US, Markets, Treasury, Interactive, Nasdaq, CAC, Brent, Longfor, Garden Services, Bloomberg, Nikkei Locations: Hong Kong, London, China, France, Qingdao, Asia, South, Shanghai

☆ European shares touch two-month low on dismal China data
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

May 31 (Reuters) - European shares hit an over two-month low on Wednesday as weak economic data from China fuelled concerns about a global slowdown and countered optimism from signs of easing inflation in some of the major euro zone economies. The pan-European STOXX 600 index (.STOXX) fell 0.7% to hit its lowest level since March 31. Both the indexes were also trading at a two-month low on Wednesday. China is Germany's main trading partner. Shares of troubled Swedish real estate firm SBB (SBBb.ST) sank 7.6% to a near seven-year low.

Persons: Sruthi Shankar, Sherry Jacob, Phillips Organizations: FTSE, CAC, SBB, Thomson Locations: China, Paris, Europe, Westphalia, Swedish, Bengaluru

☆ Europe markets mixed as U.S. lawmakers prepare for debt ceiling vote
▼ + stars: | 2023-05-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was up 0.04% by 9 a.m. in London, though the U.K.'s FTSE 100 and France's CAC 40 were both lower. Sectors were mixed, with food and beverage stocks down 0.8% and utilities up 0.77%. European stock markets were choppy early Tuesday, with attention on the latest U.S. debt ceiling developments. A group of Republican lawmakers on the party's hard right said Monday they would oppose the deal reached by President Joe Biden and House Speaker Republican Kevin McCarthy over the weekend. They need to find the votes, this might trigger the attention of the markets for a couple of days," Cavarero said.

☆ Europe markets open higher after U.S. debt ceiling deal
▼ + stars: | 2023-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Sectors were all cautiously higher or flat, with autos and banks leading gains. European stock markets opened higher Monday after U.S. President Joe Biden and House Speaker Kevin McCarthy reached a deal to raise the nation's debt ceiling. U.S. political leaders must now gather enough bipartisan support to pass the debt ceiling bill in Congress before the June 5 deadline to avoid a federal default. Asia-Pacific markets were mixed even as Japan's Nikkei 225 climbed to trade at the highest levels since July 1990. Elsewhere, the Turkish lira slumped to a near-record low after incumbent President Recep Tayyip Erdogan secured reelection.

☆ China deletes 1.4 million social media posts in crackdown on 'self-media' accounts
▼ + stars: | 2023-05-27 | by ( Eduardo Baptista | ) www.reuters.com time to read: +3 min

BEIJING, May 27 (Reuters) - China's cyberspace regulator said 1.4 million social media posts have been deleted following a two-month probe into alleged misinformation, illegal profiteering, and impersonation of state officials, among other "pronounced problems". The Cyberspace Administration of China (CAC) said in a statement on Friday it had closed 67,000 social media accounts and deleted hundreds of thousands of posts between March 10 and May 22 as part of a broader "rectification" campaign. Since 2021, China has targeted billions of social media accounts in a bid to "clean" its cyberspace and make it easier for authorities to control. The latest crackdown targeted accounts on popular Chinese social media apps including WeChat, Douyin, and Weibo that fall under the category of "self media," a term that broadly refers to accounts that publish news and information but are not government-run or state-approved. Some 25,000 other accounts were targeted for impersonating public institutions, such as disease and prevention control centers and state-run research institutes.

☆ China fails Micron's products in security review, bars some purchases
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +2 min

According to China's broad definition of critical information infrastructure, this could include sectors ranging from transport to finance. "The review found that Micron's products have serious network security risks, which pose significant security risks to China's critical information infrastructure supply chain, affecting China's national security," the Cyberspace Administration of China (CAC) said in a statement. China announced its review of Micron's products in late March. The larger chunk of Micron's products flowing into China are being purchased by non-Chinese firms for use in products manufactured there, according to analysts. China in September 2021 imposed rules aimed at protecting critical information infrastructure, which require their operators to comply with stricter requirements around areas such as data security.

☆ China says Micron's products fail security review, bars some purchases
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +2 min

"The review found that Micron's products have serious network security risks, which pose significant security risks to China's critical information infrastructure supply chain, affecting China's national security," the Cyberspace Administration of China (CAC) said in a statement. Operators of critical information infrastructure will be required to stop procuring from Micron, the CAC added. According to China's broad definition of critical information infrastructure, this could include sectors ranging from transport to finance. The CAC did not detail what risks it had found nor what Micron products this would impact. China in September 2021 imposed rules aimed at protecting critical information infrastructure, which require their operators to comply with stricter requirements around areas such as data security.

The Cyberspace Administration of China (CAC) launched a special campaign to clean up online information, focusing on social media accounts that disseminate "fake news" and impersonate state-controlled media. The regulator said it had wiped 107,000 accounts of counterfeit news units and news anchors and 835,000 pieces of fake news information since April 6. The cleanup comes as China and countries across the globe grapple with an onslaught of fake news coverage online, with many implementing laws to punish culprits. News dissemination on Chinese social media, however, is already heavily controlled, with platforms like the Twitter-like Weibo favouring topic hashtags produced by state media, while censoring hashtags on issues or incidents considered sensitive by Beijing, even if they go viral. China recently arrested a man in Gansu province for allegedly using ChatGPT to generate a fake story about a train crash.

☆ European stocks rise to start the week as traders digest rate hikes; FTSE closed
▼ + stars: | 2023-05-08 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

LONDON – European indexes started the trading week on a stronger footing, with traders looking ahead to more corporate earnings, economic data and a Bank of England rate decision this week. The U.K.'s FTSE 100 will be closed Monday for a public holiday after the coronation of King Charles III. Market players have spent weeks juggling concerns over inflation and interest rates, with the Bank of England due for a rate-setting meeting on Thursday. Both the Federal Reserve and the European Central Bank hiked rates by a quarter of a percentage point last week, with many now expecting the former to start cutting rates at some point during the summer. Minutes from Japan's March monetary policy meeting showed board members were concerned over inflation accelerating at a higher-than-expected pace.

☆ New rules compel leading China financial data provider to limit offshore access, sources tell Reuters
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +1 min

China's leading financial data provider Wind Information Co is limiting offshore access to some business and economic data, in response to new rules from the country's cybersecurity regulator finalized last September. China's biggest financial data provider Wind Information told some customers late last year that it was restricting offshore users from accessing certain business and economic data as a result of the cybersecurity regulator's new data rules, two sources said. Restricted access to Wind by offshore users comes as China sharpens its focus on data usage and security amid rising geopolitical tensions and concerns about privacy in the world's second-largest economy. A Wind salesperson told the source in September the company had made the changes as per instructions from the Cyberspace Administration of China (CAC), which asked it to stop providing offshore users with certain data. The second source was also told by another Wind salesperson that the restrictions were put in place after the CAC unveiled new data rules last year.

HONG KONG, May 4 (Reuters) - China's biggest financial data provider Wind Information Co told some customers late last year that it was restricting offshore users from accessing certain business and economic data as a result of the cybersecurity regulator's new data rules, two sources said. Restricted access to Wind by offshore users comes as China sharpens its focus on data usage and security amid rising geopolitical tensions and concerns about privacy in the world's second-largest economy. A Wind salesperson told the source in September the company had made the changes as per instructions from the Cyberspace Administration of China (CAC), which asked it to stop providing offshore users with certain data. The restrictions on offshore users' access to certain Wind data have expanded since last September, said the first source. Reuters has reported, citing sources that Chinese data providers including company databases Qichacha, partially owned by Wind, and TianYanCha have stopped opening to offshore users for at least months.

☆ From TikTok to partnerships, the best ways fintechs can attract quality customers amid a downturn, according to experts
▼ + stars: | 2023-05-01 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Balancing customer acquisition cost and customer lifetime value is difficult. Despite the market downturn, experts say startups need to be more savvy about going after new users. Fintechs need to take a quality over quantity approach when it comes to attracting new customers in a tightening market. One solution is to target customers who will offer greater lifetime value, Ron Shevlin, chief research officer at Cornerstone Advisors, said at the conference. Lifetime value is the amount of revenue a business will generate from a single customer.

☆ Forget the pension protests. France’s economy has momentum
▼ + stars: | 2023-04-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

France’s economy grew 0.2% in the first quarter of this year, its national statistics agency said Friday, after stagnating in the previous quarter. Yet the long-running protests are unlikely to leave a lasting dent in France’s economy, according to Charlotte de Montpellier, a senior economist at Dutch bank ING. But its $2.8 trillion economy has held up comparatively well. Office buildings illuminated in the La Defense business district of Paris, France, on Monday, Feb. 6, 2023. ‘Momentum’ building for banksBritain’s exit from the European Union has also been a boon for France’s financial sector.

☆ Despite a tightening market, fintechs need to be more savvy and selective in how they attract new customers, experts say
▼ + stars: | 2023-04-27 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Balancing customer acquisition cost and customer lifetime value is difficult. Despite the market downturn, experts say startups need to be more savvy about going after new users. Fintechs need to take a quality over quantity approach when it comes to attracting new customers in a tightening market. But despite the difficult market, experts say fintechs shouldn't simply be looking to grow their market share by any means necessary. Lifetime value is the amount of revenue a business will generate from a single customer.

☆ Atos' cybersecurity unit drives sales ahead of split
▼ + stars: | 2023-04-27 | by ( Mathieu Rosemain | ) www.reuters.com time to read: +2 min

Home to assets deemed strategic by the French government, Atos is striving to regain investor confidence after several setbacks, heavy losses and sharp stock swings precipitated by governance instability. Eviden groups Atos' most coveted assets such as cybersecurity division BDS and supercomputers, fuelling speculation about interest from other players in the cybersecurity field, such as Thales (TCFP.PA). First-quarter revenue was up 2.8% from a year earlier to 2.81 billion euros ($3.11 billion), beating the analyst consensus provided by the company. Atos said its much-expected shareholder meeting would take place on June 28, amid strong criticism from some investors of board chairman Bertrand Meunier. ($1 = 0.9047 euros)Reporting by Mathieu Rosemain; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ US urges South Korea not to fill China shortfalls if Beijing bans Micron chips, Financial Times reports
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +1 min

April 23 (Reuters) - The United States asked South Korea to urge its chipmakers not to fill any market gap in China if Beijing bans memory chipmaker Micron (MU.O) from selling chips, the Financial Times reported on Sunday. The United States made the request as South Korean President Yoon Suk Yeol prepares to travel to Washington on Monday, the newspaper reported, according to four people familiar with the talks. China's cyberspace regulator Cyberspace Administration of China (CAC) said in March that it would conduct a cybersecurity review of products sold in the country by Micron. In a response, Micron said that it is cooperating with the Chinese government and that its operations in China are normal. It has blacklisted a number of China's largest chip firms, including Micron rival Yangtze Memory Technologies Co Ltd.

☆ Exploring Picasso’s Málaga
▼ + stars: | 2023-04-14 | by ( Andrew Ferren | ) www.nytimes.com time to read: +2 min

Christine Picasso renewed those efforts in the 1990s by offering to donate a portion of her own collection of Picasso’s work to establish a new museum in the city. Since the Museo Picasso Málaga opened in 2003, it has helped convert the city into a top cultural destination, not just in Spain, but in southern Europe. The sidewalks and pretty pedestrian streets of the historic city center once again bustle with pedestrians amid the palm trees, geraniums and bougainvillea. “Evidently, people don’t want to just lie on the beach.”If you goWithin Spain, Málaga is a short flight from both Barcelona and Madrid; the latter is also less than three hours away on Spain’s high-speed AVE rail network. About 300 feet from the Picasso Museum, Hotel Palacio Solecio offers luxury accommodations in a beautifully restored 18th-century palace; doubles from about 300 euros, or about $326.

A broad measure of European shares, the STOXX 600 index (.STOXX), is trading at 14-month highs, taking this year's gains to almost 10%. James Rutland, a European equities fund manager at Invesco, noted that consistent outflows from European shares last year, when the energy crisis dealt the region a fresh blow, had left valuations at very cheap levels. A broad index of European stocks is trading at a multiple of 12.6, compared with a ratio of 18.1 for the S&P 500, according to Refinitiv data. This 5.5 point premium is above the five-year average of around 4 points, suggesting European shares look cheap compared to their U.S. counterparts. "This has broken European stocks out of their relative downward trend, so we don't think Europe is now a structural underperformer," he said.

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