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☆ Apple is cutting back production of iPhone 14 Plus due to weak demand - TrendForce
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Apple Inc (AAPL.O) is cutting back production of iPhone 14 Plus and is increasing the output of the more expensive iPhone 14 Pro due to lukewarm demand, market research firm TrendForce said Tuesday. The share of more expensive iPhone 14 Pro series has increased to 60% of the total output from the initially planned 50%, and it could rise to 65% in the future, the report said. This could lead to a 14% year-on-year drop in production to 52 million units. read moreLast month, the company said it would manufacture its latest iPhone 14 in India, as the tech giant moves some of its production away from China to hedge risks arising from the growing tensions between Washington and Beijing. TrendForce estimates the share of Apple's output from India to exceed 5% in 2023 and increase over the years.

☆ Stock market keeps rallying even though consumers feel lousy
▼ + stars: | 2022-10-25 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN Business —Consumers may be worried about inflation and rising interest rates. But don’t tell that to Wall Street. So why is the market in rally mode even though consumers are worried about the rising price of just about everything? So even though consumers and businesses may feel lousy every time they buy something and see how much it costs…they are still spending. The famous saying about Wall Street is that markets are forward looking.

☆ Goldman, Lockheed results buoy Wall Street
▼ + stars: | 2022-10-18 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The gains helped lift the S&P industrials index (.SPLRCI) as the best performing of the 11 major sectors. Analysts now expect quarterly earnings growth for S&P 500 companies of just 2.8% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv data. Netflix (NFLX.O) lost 1.73% ahead of its earnings report after the market close, with all eyes on the video-streaming company's subscriber growth, which is seen falling in the third quarter. Advancing issues outnumbered declining ones on the NYSE by a 2.70-to-1 ratio; on Nasdaq, a 1.90-to-1 ratio favored advancers. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 80 new highs and 102 new lows.

☆ Wall St rallies after Goldman, Lockheed results
▼ + stars: | 2022-10-18 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The gains help lift the S&P industrials index (.SPLRCI) 1.79%, the strongest performance of the 11 major sectors. Analysts now expect quarterly earnings growth for S&P 500 companies of just 2.8% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv data. Fed officials have largely been in sync in comments about the need for the central bank to tamp down inflation. Netflix (NFLX.O) lost 1.90% ahead of its earnings report after markets close, with all eyes on the video-streaming company's subscriber growth, which is seen falling in the third quarter. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 61 new highs and 81 new lows.

☆ Sterling drops as UK turmoil escalates; dollar hits new 32-year high vs yen
▼ + stars: | 2022-10-14 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

The dollar, on the other hand, continued its march higher against a beleaguered yen, hitting a fresh 32-year peak of 148.86. Japanese Finance Minister Shunichi Suzuki on Thursday reiterated the government's readiness to take steps against excessive currency volatility. Register now for FREE unlimited access to Reuters.com RegisterJapan last month intervened to buy yen for the first time since 1998. The pound, meanwhile, fell for a second straight day against the dollar, last traded at $1.1167, down 1.4% . U.S. retail sales were unexpectedly unchanged in September as stubbornly high inflation and rapidly rising interest rates crimp demand for goods.

☆ U.S. retail sales unexpectedly flat in September
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 14 (Reuters) - U.S. retail sales were unexpectedly unchanged in September as stubbornly high inflation and rapidly rising interest rates crimp demand for goods. Retail sales, which are mostly goods, are not adjusted for inflation. Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.4% last month. Data for August was revised higher to show these so-called core retail sales rising 0.2% instead of being unchanged as previously reported. Core retail sales correspond most closely with the consumer spending component of gross domestic product.

☆ Russia's oil exports would still make Moscow a profit even with a $60 price cap in place, Janet Yellen says
▼ + stars: | 2022-10-14 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Russia could profit from its oil exports even with a $60 price cap, Janet Yellen said. G7 countries want to cap Russian oil to curb its revenues by keeping global prices in check. The US and its allies are still ironing out where to set the cap, Yellen said. "So certainly a price in that range would be sufficient to feel that Russia could profitably produce and sell oil," she said. "The objective is to protect the world from the consequences of a global spike in oil prices," Yellen said of the plan.

☆ Morgan Stanley's 3rd-quarter earnings fall short of expectations as investment banking revenue slides 55%
▼ + stars: | 2022-10-14 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Morgan Stanley on Friday posted third-quarter earnings and revenue that fell short of expectations. The Wall Street giant said an uncertain macroenvironment led to investment banking revenue tumbling by 55% to $1.27 billion. But investment banking revenue sank by 55%, dropping to $1.277 billion from $2.85 billion, with the company citing an uncertain macroeconomic environment as driving limited activity in that portion of its operations. "While Investment Banking and Investment Management were impacted by the market environment, Fixed Income and Equity navigated challenging markets well." But weak stock prices this year suggest investors have been concerned that higher borrowing rates and a potential recession could crimp loan demand and investment banking activity.

☆ Here's the inflation breakdown for September 2022 — in one chart
▼ + stars: | 2022-10-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Inflation measures how quickly the prices consumers pay for a broad range of goods and services are rising. watch nowFood prices have taken a 'starring role'Food prices have been among the largest contributing categories to inflation in recent months. Within that category, certain items have seen prices rise sharply over the past year, such as butter and margarine (up 32.2%), eggs (30.5%) and flour (24.2%). Inflation factors are 'remarkable, unprecedented and highly complicated'A healthy economy experiences a small degree of inflation each year. But a supply-and-demand imbalance led inflation to increase starting in early 2021, following years of low inflation.

☆ Nike Moves to Crimp Resellers and Might Cancel Orders Made Using Bots
▼ + stars: | 2022-10-11 | by ( Inti Pacheco | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/nike-moves-to-crimp-resellers-and-might-cancel-orders-made-using-bots-11665506775

☆ Nike to Crack Down on Sneaker-Buying Bots, Dealing a Blow to Resale Market
▼ + stars: | 2022-10-11 | by ( Inti Pacheco | ) www.wsj.com time to read: 1 min

☆ Chinese chip stocks tumble after U.S. calls for new curbs on high-end tech
▼ + stars: | 2022-10-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Future Publishing | Future Publishing | Getty ImagesBEIJING — Chinese chip stocks fell Monday after the U.S. announced new export controls aimed at limiting Beijing's ability to produce advanced military systems. The rules, effective this month, expand on prior U.S. attempts to crimp Chinese companies' access to key tech. Chinese chips stocks tumbleChina's largest chipmaker, Semiconductor Manufacturing International Corporation, traded 3% lower Monday afternoon in Hong Kong, amid a broader market sell-off. "It will not only harm Chinese companies' legitimate rights and interests, but also hurt the interests of U.S. The U.S. government previously put Chinese companies Huawei and SMIC on a blacklist that requires suppliers to obtain a license before selling to them.

☆ UK swaps one cost-of-living crisis for another
▼ + stars: | 2022-09-27 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

But the budget plans of new Prime Minister Liz Truss and her Chancellor Kwasi Kwarteng may cause a world of pain for mortgage borrowers. Surging interest rates will crimp spending and hurt the housing market, further undermining Truss and Kwarteng’s growth plans. Capital Economics reckons at Monday’s implied levels, mortgage costs could reach their highest level relative to borrowers’ income since 1990. Rather than having to bail them out, regulators and politicians may push lenders to offer repayment holidays or cut interest rates. It will find it equally difficult to let mortgage borrowers suffer alone.

☆ Goldman's playbook on what to buy and sell with the U.S. dollar surging
▼ + stars: | 2022-09-26 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

The British pound hit a record low against the dollar on Monday and the euro hit the lowest since 2002. A strong dollar generally is not necessarily bad for U.S. companies and the market. Here are some of the stocks in the Goldman basket: Notable names on this list include Chipotle , CVS Health and Dollar General . What to sell On the flip side, there are certain names investors should avoid or for the nimble traders, bet against in this environment. To be sure, if the dollar's run was to turn dramatically, then these stocks could be among the first to bounce.

☆ Europe is scrambling to put a price cap on Russian oil after Putin stepped up threats over Ukraine, report says
▼ + stars: | 2022-09-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Members of the European Union are working to implement a price cap on Russian oil, according to Bloomberg. The price cap will likely feature in new sanctions packages, sources said. The G7 has not spoken on the details of its price cap. A top Ukrainian official said Wednesday the need for an oil price cap is urgent as Moscow steps up its efforts in Ukraine. Read more: The US and its allies are getting close to a price cap on Russian oil - which could slash Moscow's revenues yet send crude soaring

☆ Dollar towering, stocks cowering as Fed hikes higher
▼ + stars: | 2022-09-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

read moreS&P 500 futures were down 0.6% and the dollar was flying in early trade. The dollar index hit a 20-year high of 111.65 and the greenback's strength sent the Aussie, kiwi and Canadian dollars down to fresh multi-year lows. The Fed raised rates sharply, by 75 basis points, on Wednesday - the third such rise in a row. The yen is down about 20% on the dollar this year and at 144.29 per dollar is near a 24-year low. The U.S. dollar index hit a 20-year peak of 111.63 in the wake of the Fed hike.

☆ Asian stocks sink, yields rise as markets brace for aggressive Fed
▼ + stars: | 2022-09-21 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterMSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) lost 1%. Sweden's Riksbank surprised markets overnight with a full percentage-point hike, and warned of more to come over the next six months. Markets are pricing in an 81% chance of another 75-basis-point increase, and see a 19% probability of a full percentage point rise. The Bank offered to buy 250 billion yen of bonds in an unscheduled operation on Wednesday to keep yields in check. Meanwhile, crude oil continued its decline amid worries that aggressive tightening by the Fed and other central banks would crimp growth and curb demand.

☆ Andy Jassy's Amazon is going shopping, spending billions on iRobot and One Medical. Here are the companies it could buy next.
▼ + stars: | 2022-08-10 | by ( Katherine Long | Eugene Kim | ) www.businessinsider.com time to read: +2 min

Amazon is set to buy the robot-vacuum maker iRobot for $1.7 billion, the companies said Friday. And Amazon said last month it would buy the One Medical chain of physician offices for $3.9 billion. The purchases may mark the start of an Amazon buying spree as tech valuations plunge. Amazon hasn't "shown a historic proclivity to buy things," but the iRobot and One Medical deals show "there may be a few more coming," Shmulik added. Here are areas where Amazon could spend big:

☆ The night the Lord of the Skies got away
▼ + stars: | 2022-07-22 | by ( Noah Hurowitz | ) www.businessinsider.com time to read: +38 min

It was May 1985, and Ramirez had only been with the Border Patrol for two and a half years. But he also knew that at the end of that road, just before the international port of entry, was a Border Patrol station. The Lord of the SkiesWithin a decade of that traffic stop, Amado would be the most significant drug trafficker in Mexico. It's the border," Ford told me recently when I reached him by phone. Ford and Amado didn't make a deal that night, but Ford said they agreed to "something tentative."

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