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☆ British Gymnastics chief calls for independent welfare body
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

MANCHESTER, England, May 16 (Reuters) - The head of British Gymnastics wants the government to set up an independent body to ensure the welfare of athletes, saying many sports lack the resources to adequately safeguard competitors. "The solution, I believe, is to establish a new independent body to ensure athlete welfare across all sports." The safeguarding crisis in gymnastics, Darcey said, had created a backlog of hundreds of historical complaints. "The issues raised by this backlog, and the parallels we are seeing in other sports, lead us to call for a centralised independent body to prioritise the welfare and safeguarding of athletes across all sports," Darcey said. The United States is among countries which have a centralised body - the U.S. Center for SafeSport - to handle abuse complaints.

☆ Wall St Week Ahead Amid banking woes, faltering US small-caps offer ominous economic sign
▼ + stars: | 2023-05-14 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

NEW YORK, May 12 (Reuters) - A U.S. stocks rally is leaving behind smaller companies, a sign that investors may be bracing for economic turmoil ahead. "Typically in a recession, small caps underperform." Last month it downgraded its view on U.S. small caps from "unfavorable" to "most unfavorable." Some investors are more upbeat about the outlook for small caps, particularly when looking beyond the next several months. One reason is that small caps, being sensitive to economic fluctuations, tend to shine early in a market recovery.

"When you get into higher interest rates ... you look to your collateral," Rodeheaver said in an interview. "We are tightening on price and profitability ... That is going to slow lending a bit." "The economy has started to slow in an orderly fashion" in response to higher interest rates, Jefferson said, calling tighter credit conditions "part of the transmission mechanism of monetary policy." Powell, however, said he felt the impact of the credit shock "remains uncertain," and his own baseline outlook does not include a recession. Bank lending dipped about 1.7% in the two weeks following SVB's collapse, but has risen since then and recouped about a third of the decline.

☆ US small business sentiment slumps to more than 10-year low
▼ + stars: | 2023-05-09 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

WASHINGTON, May 9 (Reuters) - U.S. small business confidence fell to more than a 10-year low in April on worries about the near-term economic outlook and persistent worker shortages, but there were few signs that businesses were having difficulties accessing credit. The National Federation of Independent Business (NFIB) said on Tuesday its Small Business Optimism Index dropped 1.1 points to 89.0 last month, the lowest level since January 2013. "As we've argued before, though, measures of sentiment are often a poor guide of what is likely to happen in the economy because it tells us more about how business owners are feeling, rather than what they are doing." The share of owners expecting better business conditions over the next six months fell two points to a net negative 49%. Forty-five percent of owners reported job openings that they could not fill, up 2 points from March.

☆ The latest inflation readings are expected to show that prices are still rising
▼ + stars: | 2023-05-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Stubbornly higher prices across multiple key categories of goods and services are expected to at least keep the inflation rate steady — and possibly even push levels up. That would put the respective annual inflation rates at 5%, essentially unchanged from March , and 5.5%, down just 0.1 percentage point. With inflation rising rapidly around this same time in 2022, the year-over-year comparisons should make the annual rate go down. "We continue to project inflation will ease over the course of the year with the headline CPI inflation dropping considerably in May and June as a result of base effects," UBS economist Jonathan Pringle wrote. April's nonfarm payrolls report also showed that average hourly earnings increased 0.5% on the month and 4.4% annually, both higher than expected.

☆ Morning Bid: US uncertainty feeds caution in Asia
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Asia markets correspondent Kevin Buckland. European investors hoping to find some clues on market direction from Asia may be disappointed today. Overall, the market mood was cautious ahead of the week's trading highlight, Wednesday's U.S. CPI report, which will put to the test the market's view that the Fed is done hiking. Reuters GraphicsAnd there are several other reasons that investor attention is squarely on the U.S., with the debt ceiling tussle deadlocked and banking sector troubles simmering. The Fed's quarterly Senior Loan Officer Opinion Survey ('SLOOS') also buoyed the mood, showing tighter lending conditions but no impending credit crunch.

☆ S&P 500 futures are flat as investors await closely followed inflation data: Live updates
▼ + stars: | 2023-05-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

S&P 500 futures are little changed Monday night as investors readied for key inflation reports due later in the week. S&P 500 futures inched down by 0.05%, while Nasdaq-100 futures shed 0.1%. The S&P 500 finished 0.05% higher, while the Nasdaq Composite ended with a gain of nearly 0.2%. Fox Corp. and Nikola are among companies set to report quarterly earnings before the bell, followed by Airbnb and Rivian after the market closes. Earnings season is beginning to wind down with more than 85% of the stocks in the S&P 500 done reporting.

May 8 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. If the mood in Asian markets on Tuesday reflects the broader global mood on Monday, there's every reason to expect an increase in risk appetite and risk assets, despite a higher dollar and Treasury yields. But there was no obvious sign of a credit crunch, which fits with recent weekly bank deposit flow and lending data too. Several positioning and sentiment indicators suggest investors are the most gloomy on stocks - especially Wall Street - than they have been in years, even decades. Asian markets appear to be looking at the U.S. banking and debt issues with a 'glass half-full' mentality.

Lending standards, which were already at levels consistent with past recessions, according to several indicators in the most recent 'SLOOS' and NFIB surveys, will only tighten further. Although tighter credit conditions will weigh on economic activity, hiring and inflation, recession can still be avoided. A separate NFIB banking survey published this week shows small business owners are not hitting the panic button just yet, but concern is growing. "Small business owners are, not surprisingly, concerned about the stability of the banking system. A strong small business banking system is essential for small business owners to operate and grow their business," Holly Wade, executive director of NFIB's Research Center said.

☆ Will wages outpace inflation for long? It depends on the job
▼ + stars: | 2023-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Wages are now finally beating inflation, according to the latest quarterly data on wage growth. That was the biggest monthly increase since March 2022, though wage growth had gradually slowed since then. “The folks who left one company and went to another are the ones who are still benefiting from wage growth,” said Morgan Llewellyn, chief data scientist at Jobvite. Part of the continued strength in wage growth largely has to do with employers’ difficulty in hiring, which varies by industry. “Wage growth has still been higher for job changers than job stayers and that suggests that there’s still a shortage of labor for some companies,” said Dawn Fay, operational president at staffing firm Robert Half.

☆ Regional bank stocks could be a market afterthought in the week ahead
▼ + stars: | 2023-05-05 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

For the immediate economic and earnings and growth outlook, it almost seems irrelevant whether regional bank stocks rally, steady or sell off more next week. Regional banks were top of mind for investors this past week, as First Republic failed , the SPDR S & P Regional Banking ETF tumbled more than 10% — twice the five-day loss in the S & P 500 Energy Index, the hardest hit S & P sector — and lenders such as PacWest Bancorp and Western Alliance Bancorp lost billions in market value. And, for all that, the S & P 500 only fell about 0.75% this week. Now the conventional wisdom on Wall Street is that regardless of how the regional bank stocks trade, it's a given that bank lending officers are going to pull in their horns and risk management desks will grow more risk averse. But stocks still face a host of issues, none of which are going away next week.

☆ UCI to reopen talks on transgender policy after Killips' win in New Mexico
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

May 4 (Reuters) - The governing body of cycling (UCI) has agreed to "re-open consultation" around transgender women competing in elite female events. The decision was prompted by American Austin Killips becoming the first transgender rider to win a UCI women's stage race. "The UCI's objective remains the same: to take into consideration... the desire of transgender athletes to practice cycling. "The UCI also hears the voices of female athletes and their concerns about an equal playing field for competitors, and will take into account all elements, including the evolution of scientific knowledge." The UCI toughened its rules for transgender women to compete in its events last year, halving the maximum permitted plasma testosterone level to 2.5 nanomoles per litre and doubling the transition period to 24 months.

☆ Russian, Belarusian cyclists allowed to return as neutrals
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

May 3 (Reuters) - Russian and Belarusian cyclists will be allowed to compete in international competitions as neutrals after being banned last year, the sport's governing body (UCI) said on Wednesday. In the wake of Russia's invasion of Ukraine, in which Belarus has been used as a staging post, most international sports federations adopted recommendations by the International Olympic Committee (IOC) to ban Russian and Belarusian athletes. But last month the IOC recommended that Russian and Belarusian athletes be allowed to return to international competition as neutrals. The UCI said in a statement that it had decided "to authorise, under strict conditions, the participation of athletes of Russian and Belarusian sporting nationality... as neutral individual athletes". Table tennis, pentathlon, fencing, judo, taekwondo, archery, and canoeing are among the Olympic sports to have readmitted athletes from the two countries.

The June hike is now off the table completely, and traders now see a 15% chance of the Fed not raising at all this week or in June. This is significant for the June 14 policy decision because the Fed also releases its new Summary of Economic Projections that day. The deposit flight may have stopped but Fed officials will be acutely aware of the negative feedback loop on the economy, given the deep-rooted linkages between small banks and businesses. The March survey of small businesses by the National Federation of Independent Business showed multiple signs of weakness, and even more attention than usual will fall on the next Senior Loan Officer Opinion Survey. Will the Fed be raising rates on June 14 if this is still a live issue?

May 1 (Reuters) - International Boxing Association (IBA) president Umar Kremlev blasted the national federations who broke away from the body to form a new world boxing federation, describing the officials as 'black sheep' and 'hyenas' who do not belong in sport. But Russian Kremlev, who is in Tashkent for the IBA men's world championships, said the IBA is the only international association that governs the sport. Someone tried to register an international association from their garage, why should we even consider them," Kremlev told a news conference. "We did not terminate the (Gazprom) contract as there were obligations to complete... Most federations were against Gazprom being sponsor, but at the (IBA) Congress there were no objections."

☆ Germany has a plan to tackle a rapidly ageing workforce: recruiting robots
▼ + stars: | 2023-05-01 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

But what does enhancing the workforce through robots and digitalization actually look like? There won't be major job losses as a result of digitalization, according to Ulrich Walwei, vice director of Germany's Institute for Employment Research. Ultimately, the goal of integrating robots into the workplace is to augment human capabilities, not replace them. "Our robots can free up human workers to focus on more complex and creative work, leading to more fulfilling and engaging jobs," Pehlivan told CNBC via email. "Ultimately, the goal of integrating robots into the workplace is to augment human capabilities, not replace them," he added.

☆ USA Boxing withdraws from Russian-led world body IBA
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

April 27 (Reuters) - USA Boxing, representing the most successful country in the sport's Olympic history, has left the International Boxing Association (IBA) and will join the breakaway federation World Boxing. Mike McAtee, chief executive of USA Boxing, wrote in a letter to members on Wednesday that the withdrawal was effective immediately. "USA Boxing will immediately begin the World Boxing application process and submit the required application on the first day of acceptance, on or about May 1, 2023," he added. "USA Boxing is committed to work tirelessly with World Boxing, like-minded national federations and worldwide Olympic-style boxing community to earn the privilege to be part of the Olympic Movement now and in the years to come." USA Boxing is certified by the U.S. Olympic and Paralympic Committee as the national governing body for Olympic-Style boxing in the United States.

☆ Euro clubs' body wary of early Women's World Cup call-ups
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - The European Club Association (ECA) said it is concerned about the "current widespread practice" of national federations calling up players for the Women's World Cup before the mandatory release period starts. The mandatory release date for the tournament is July 10, which is 10 days before the event kicks off in Australia and New Zealand. "The issue of early call-ups is a hangover from the game in its amateur form and is detrimental to the future success and growth of women's football." Several top players, including England captain Leah Williamson and Netherlands forward Vivianne Miedema, have been ruled out of the World Cup due to serious injuries. Reporting by Manasi Pathak in Bengaluru; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

☆ Catastrophic drought that’s pushed millions into crisis made 100 times more likely by climate change, analysis finds
▼ + stars: | 2023-04-27 | by ( Laura Paddison | ) edition.cnn.com time to read: +6 min

CNN —The unrelenting drought that has devastated the Horn of Africa and left more than 20 million people facing acute food insecurity would not have been possible without climate change, a new analysis has found. In a world without human-caused climate change, this devastating drought would not have happened. The organization is made up of a team of international scientists who, in the immediate aftermath of extreme weather events, analyze data and climate models to establish what role climate change played. The scientists also looked at whether climate change was to blame for the lack of rain, but concluded there was no overall impact. “The country continues to pay the price of global warming and climate change,” he added.

☆ Pentathlon-Russian and Belarusian pentathletes allowed to return as neutrals
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

April 20 (Reuters) - Russian and Belarusian athletes can return to international pentathlon events as neutrals after being banned last year in the wake of the Russia-Ukraine conflict, the sport's global federation (UIPM) said on Thursday. In the wake of the invasion, most international sports federations adopted recommendations by the International Olympic Committee (IOC) to ban Russian and Belarusian athletes. However last month the IOC issued new guidelines for a gradual return to international competitions by Russian and Belarusian athletes as neutrals. "UIPM will now work to develop the necessary independent review processes to facilitate the return of these athletes, in consultation with the IOC and the Association of Summer Olympic International Federations." Table tennis, fencing, judo and taekwondo are among other Olympic sports which have readmitted athletes from Russia and Belarus as neutrals.

The regular army and the rival paramilitary Rapid Support Forces (RSF) issued statements accusing each other of failing to respect the ceasefire. "We have not received any indications here that there's been a halt in the fighting," United Nations spokesman Stephane Dujarric told a news briefing in New York. The fighting has triggered what the United Nations has described as a humanitarian catastrophe, including the near collapse of the health system. Fighting also raged in the west of the country, the United Nations said. [1/7] Satellite image shows a closer view of a burning building at the Merowe Airbase, Sudan, April 18, 2023.

☆ New world body to defend Olympic status in break from IBA
▼ + stars: | 2023-04-13 | by ( Alan Baldwin | ) www.reuters.com time to read: +2 min

LONDON, April 13 (Reuters) - A group of national federations including the United States and Britain announced a new boxing world body on Thursday in a breakaway move aimed at securing the troubled sport's Olympic future. Leaders of the Swiss-registered body, World Boxing, told a news conference that they would seek recognition from the International Olympic Committee (IOC). The group includes federations who have already announced boycotts of this year's men's and women's world championships organised by the Russian-led International Boxing Association (IBA). Amateur boxing's governing body defied IOC guidance and lifted a ban on Russian and Belarusian boxers competing under their flags last October. The United States tops the all-time Olympic boxing medal table with 50 golds and 117 medals, ahead of Cuba and with Britain third.

Deposits have fled small banks at a record pace, the availability of credit for small businesses is deteriorating rapidly, and these firms are increasingly reluctant to hire workers or expand. The relationship between these thousands of banks and millions of small businesses runs deep, and is critical to the health of the economy at large. And so is wider GDP, when you bear in mind that small businesses account for around 40% of all jobs. Small banks will probably tighten credit standards further, limiting a key source of funding for small businesses - many of which are riskier borrowers and key customers for these banks. "Because small banks are likely to tighten credit more aggressively and small businesses disproportionately borrow from them, the hit to lending to small businesses will likely be larger," they wrote on Monday.

☆ A chief economist who called the 2008 recession sees signs that the economy has already begun to unravel — and says a recession will be apparent as early as this summer
▼ + stars: | 2023-04-11 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The unemployment rate will start to rise this summer, says Ian Shepherdson. The US economy is already starting to unravel and a recession will arrive as soon as this summer, according to Ian Shepherdson, the founder and chief economist of Pantheon Macroeconomics. "We expect to see payrolls falling in the summer, pushing up the unemployment rate." Shepherdson pointed to the National Federation of Independent Businesses Hiring Intentions survey as a leading indicator of where the job market is headed. The current unemployment rate of 3.5% still sits near a more than five-decade low.

☆ Stock futures are flat Monday as March inflation reports loom ahead: Live updates
▼ + stars: | 2023-04-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed on Monday night as investors look toward the release of economic data later this week. Dow Jones Industrial Average futures ticked higher by 29 points, or 0.09%. And that can't be determined until we get those data points start coming in in real time. But I think that's what the market is waiting on," said Keith Buchanan, senior portfolio manager at GLOBALT Investments. Several central bank speakers will make appearances on Tuesday: Chicago Fed President Austan Goolsbee, Philadelphia Fed President Patrick Harker and Minneapolis Fed President Neel Kashkari will be speaking that afternoon and evening.

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