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☆ KKR takes private markets right up to the checkout
▼ + stars: | 2023-06-20 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

It’s a cozy arrangement for all involved, and marks another step in private lenders’ encroachment into traditional financiers’ turf. KKR will now purchase and hold up to 3 billion euros of PayPal’s BNPL loans, originated in five European countries and typically a few months in duration. KKR can pump up its returns using leverage – the deal is funded partly from loans made by its own credit funds. Follow @JMAGuilford on TwitterCONTEXT NEWSFinancial technology firm PayPal announced on June 20 that it had signed a multi-year 3 billion euro replenishing loan agreement with asset manager KKR. The deal will see KKR purchase up to 40 billion euros of PayPal’s short-term buy-now-pay-later loans now and in the future.

Persons: Joe, Banks, John Foley, Katrina Hamlin Organizations: YORK, Reuters, Joe Public, KKR, PayPal, Citi, Thomson

☆ Opinion | Creating a Path for More Black Economists
▼ + stars: | 2023-06-19 | by ( Peter Coy | ) www.nytimes.com time to read: +3 min

“If this is what economics is teaching, who wants to be part of that?”Myers is an interesting person. Myers told me about the economists, both Black and white, who lent a hand to him and others early on. One was his father, Samuel L. Myers, a path breaker who earned a doctorate in economics from Harvard in 1949. “I’m happy and content that I’m unapologetically Black,” he said. He added: “The summer program is producing deep thinkers.”

Persons: “, I’m, ”, ” Myers, Roy Wilkins, Wilkins, Myers, Samuel L, Marcus Alexis, Andrew Brimmer, Clifton Wharton, Phyllis Wallace, Bernard Anderson, Paul Samuelson, Robert Solow, Michael Piore, Richard Eckaus, Duncan Foley, Charles Kindleberger, Kindleberger “, Kindleberger, they’re Organizations: Morgan State University, Harvard, Caucus of Black, Federal, Michigan State University, Rockefeller Foundation, Yale, Wharton School, University of Pennsylvania, M.I.T Locations: Baltimore, Minnesota, American

☆ Reddit’s golden geese foul up its IPO plans
▼ + stars: | 2023-06-16 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

It’s a wrinkle in Reddit’s plan to go public, and a sign that plan is premature. And unlike counterparts elsewhere, Reddit’s mods are unpaid. Researchers at Northwestern University estimate that Reddit’s mods perform at least $3.4 million worth of labor annually. Some third-party apps using Reddit content make money, which an owner of the still-unprofitable Reddit would probably prefer to share. A bigger target is artificial intelligence companies such as OpenAI that create value by scraping Reddit’s forums to hone their own products.

Persons: Steve Huffman, Willing, Huffman’s, Huffman, John Foley, Streisand Neto Organizations: YORK, Reuters, Northwestern University, Starbucks, Twitter, Thomson

☆ Cava IPO comes in a little too hot
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

The company’s IPO raised $318 million, about $30 million more than it had expected a few days earlier, to fuel its expansion. And just in time for the afternoon lunch rush, its shares opened on the New York Stock Exchange at nearly double its IPO price. That implies Cava’s valuation is close to $5 billion, over twice the amount private investors ascribed it in 2021. Cava is a lot like Sweetgreen – neither are profitable, and both have a similar number of stores. But Cava now trades at more than five times its theoretical annualized sales based on the first quarter, much higher than the 1.4 times Sweetgreen commands.

Persons: Cava, copycats, Anita Ramaswamy, John Foley, Katrina Hamlin Organizations: YORK, Reuters, New York Stock Exchange, Twitter, Corporate, Thomson Locations: Crunchbase, Cava

☆ Oil servicers sweeten the pill
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, June 15 (Reuters Breakingviews) - The approach of peak oil demand is bad for oil producers, but it’s worse for companies that help dig and service new wells. A $5 billion merger between Patterson-UTI Energy (PTEN.O) and NexTier Oilfield Solutions (NEX.N), two small oil field services firms, offers a way out. Big oil producers are already focusing on returning cash to investors as they face up to the inevitable. The International Energy Agency said on Wednesday that global demand growth is set to nearly halt by 2028, as the use of oil in transport falls from 2026. That trend is one reason Patterson-UTI and NexTier have both delivered negative total shareholder returns since 2018.

Persons: Patterson, Robert Cyran, John Foley, Streisand Neto Organizations: YORK, Reuters, Patterson, UTI Energy, International Energy Agency, Twitter, Thomson Locations: India

☆ JPMorgan fails Jeffrey Epstein stress test
▼ + stars: | 2023-06-15 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +8 min

At least, that’s the impression left by Jamie Dimon’s answers to recent questioning in relation to Jeffrey Epstein, the dead sex-trafficker who was a JPMorgan (JPM.N) client for 15 years. Taken altogether, the case is a sign that the bank is simply too big for one person to manage. Epstein was a JPMorgan client from 1998 until 2013. Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. Litigation related to Epstein is still pending between the U.S. Virgin Islands and JPMorgan, as are claims by JPMorgan against its former head of investment banking, Jes Staley.

Persons: Jamie Dimon’s, Jeffrey Epstein, ” Dimon, “, Dimon, Epstein, Stephen Cutler, JPMorgan’s, Jes Staley, Mary Erdoes, Staley, fraudster Bernard Madoff, Cleave, Wells, Morgan Stanley, Jeffrey Epstein’s, John Foley, Streisand Neto Organizations: YORK, Reuters, JPMorgan, U.S, Securities, Exchange Commission, Department of Justice, Federal Reserve, Reuters Graphics, London Whale, Citigroup, U.S ., U.S . Virgin Islands, Thomson Locations: Wall, U.S, U.S . Virgin, Manhattan

☆ Vegas hits the jackpot, beats Florida to win Stanley Cup
▼ + stars: | 2023-06-14 | by ( Frank Pingue | ) www.reuters.com time to read: +4 min

[1/3] Jun 13, 2023; Las Vegas, Nevada, USA; The Vegas Golden Knights celebrate the win over the Florida Panthers in game five of the 2023 Stanley Cup Final at T-Mobile Arena. "We got a Stanley Cup in Las Vegas ... it's unbelievable." The Vegas victory made good on Golden Knights owner Bill Foley's bold prediction that the expansion team would win a Stanley Cup within their first six seasons. "What has happened here has been simply incredible," NHL Commissioner Gary Bettman said before presenting the Stanley Cup to Stone. Teams holding a 3-1 lead in a best-of-seven Stanley Cup Final have won 36 of 37 times.

Persons: Lucas Peltier, Mark Stone, Nicolas Hague, Alec Martinez, Reilly Smith, Michael Amadio, Ivan Barbashev, Nicolas Roy, Adin Hill, Jonathan Marchessault, Conn Smythe, Bill Foley's, Gary Bettman, Vegas, Stone, Aaron Ekblad, Martinez, Smith, Amadio's, Barbashev, Florida's Sam Reinhart, Sam Bennett, Roy, Frank Pingue, Steve Keating, Peter Rutherford Organizations: The Vegas Golden Knights, Florida Panthers, Mobile, USA, Vegas Golden Knights, National Hockey, Golden Knights, Stanley, Eastern Conference, Panthers, Miami Heat, Denver Nuggets, NBA, South, NHL, Las Vegas, Washington Capitals, Toronto Maple Leafs, Detroit Red Wings, Hague, Vegas, Thomson Locations: Las Vegas , Nevada, USA, Vegas, Las Vegas, Florida, South Florida, it's, Toronto

☆ What Wheel of Fortune can do, Wall Street can, too
▼ + stars: | 2023-06-14 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, June 13 (Reuters Breakingviews) - “Wheel of Fortune” is finally going to get a new host. The charade that unfolds nightly on traditional American television has similarities to Wall Street. And earlier this year Sajak’s daughter replaced White as the letter-turner for one game where White became a contestant. And while “Wheel of Fortune” fans and behind-the-scenes crew may feel as if the wheels won’t turn in quite the same way without their leading man around, it’s likely that Sajak – and his Wall Street counterparts – can step aside knowing the game will still go on. Follow @thereallsl on TwitterCONTEXT NEWSPat Sajak, host of gameshow "Wheel of Fortune," plans to retire at the end of his upcoming record 41st year, he said on June 12.

Persons: ”, Pat Sajak, He’s, Sajak, Vanna White, Jamie Dimon, Larry Fink, White, –, I've, It's, John Foley, Streisand Neto Organizations: YORK, Reuters, Entertainment, Twitter, Thomson Locations: U.S, gameshow’s

☆ Golden Knights' Stanley Cup win cements Las Vegas as a big-time sports city
▼ + stars: | 2023-06-14 | by ( Contessa Brewer | ) www.cnbc.com time to read: +2 min

Mark Stone #61 of the Vegas Golden Knights celebrates with the Stanley Cup after the Vegas Golden Knights won the NHL Stanley Cup Final against the Florida Panthers on June 13, 2023 at T-Mobile Arena in Las Vegas, Nevada. The Stanley Cup belongs to Sin City. The Vegas Golden Knights, in just their sixth season in the NHL, won the league's championship Tuesday night, completing a 4-1 series victory over the Cinderella Florida Panthers. Now, the who's who of Las Vegas have become Golden Knights fans. Murren championed the WNBA's Las Vegas Aces, which MGM owned at the time and later sold to Las Vegas Raiders owner Mark Davis in 2021.

Persons: Mark Stone, Bill Foley, It's, Bill Hornbuckle, Jim Murren, Murren, Mark Davis, Davis Organizations: Vegas Golden Knights, NHL, Florida Panthers, Mobile, The Vegas Golden Knights, Cinderella Florida Panthers, Vegas, Las, Golden Knights, MGM, CNBC, Sports City, Las Vegas Aces, Las Vegas Raiders Locations: Las Vegas , Nevada, Sin City, Las Vegas, Sin, Vegas, California

LONDON/SINGAPORE (Reuters) - The dollar fell slightly on Tuesday as investors awaited U.S. inflation data, while China’s yuan slipped to a six-month low after the central bank lowered a short-term lending rate to boost the economy. That helped push the dollar index, which measures the currency against six peers, down 0.26% to 103.32. The onshore yuan bottomed at 7.168 per dollar, its lowest since last November, and last traded at 7.152. Its offshore counterpart weakened to a new six-month low of 7.178, before paring its losses slightly. The Aussie dollar rose more than 0.4% to its highest since May 11 at $0.679, and was last at $0.678.

Persons: Dado Ruvic, Jane Foley, “ What’s, ” Foley, Julian Evans, Pritchard, ” Sterling Organizations: LONDON, REUTERS, Federal Reserve, Rabobank, Fed, Capital Economics, of England, Bank of Japan Locations: SINGAPORE, Asia, China

☆ Dollar dips ahead of U.S. inflation data, central bank meetings
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: +3 min

Those expectations kept risk sentiment buoyant, pinning the U.S. dollar near multi-week lows against the risk-sensitive Australia and New Zealand dollars. The euro gained 0.04% to $1.0760, with traders also focused on Thursday's interest rate decision from the European Central Bank, following its policy meeting. The U.S. dollar index edged marginally higher to 103.59, after falling to 103.24 on Monday, its lowest since May 23. "The central bank will likely continue to send a dovish message or one of no intention of policy change until it changes direction." In Asia, China's central bank cut its seven-day reverse repo rate by 10 basis points to 1.90% from 2.00% on Tuesday, sending the yuan falling in the offshore market.

Persons: Joseph Capurso, Jane Foley, Chong Organizations: Federal Reserve, U.S, Labor Department's CPI, Commonwealth Bank of Australia, Bank of England, European Central Bank, ECB, Rabobank, Bank of Japan, Standard Chartered Bank Korea Locations: Australia, New Zealand, Korea, Japan, Asia

☆ Dollar dips ahead of US inflation data, central bank meetings
▼ + stars: | 2023-06-13 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Persons: Joseph Capurso, Jane Foley, Chong, Rae Wee, Edmund Klamann Organizations: Federal Reserve, U.S, Labor Department's CPI, Commonwealth Bank of Australia, Bank of England, European Central Bank, ECB, Rabobank, Bank of Japan, Standard Chartered Bank Korea, Thomson Locations: SINGAPORE, Australia, New Zealand, Korea, Japan, Asia

☆ Nasdaq futureproofs itself, but at 2021 prices
▼ + stars: | 2023-06-12 | by ( John Foley | ) www.reuters.com time to read: +3 min

NEW YORK, June 12 (Reuters Breakingviews) - Nasdaq (NDAQ.O) is catapulting itself into the future - but paying yesterday’s high prices to get there. She pursued this one with gusto, though: Adenza wasn’t for sale when Nasdaq started wooing Thoma Bravo, say people familiar with the situation. Little wonder Nasdaq shares plunged over 10% on Monday. The U.S.-based exchange operator would pay just under $5.8 billion in cash and the rest in new Nasdaq shares, leaving Thoma Bravo with a 14.9% stake. Nasdaq shares had fallen 9.4% by 10.00am EST on June 12.

Persons: Thoma, Adena, Friedman, Bob Greifeld, Adenza, Thoma Bravo, Jonathan Guilford, Sharon Lam Organizations: YORK, Reuters, Nasdaq, Thoma Bravo, Calypso Technology, Thomson Locations: U.S

☆ MLB roundup: Andrew McCutchen gets 2,000th, Pirates win
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +13 min

Pittsburgh starter Mitch Keller (8-2) pitched seven innings, allowing one run and a season-low two hits, with seven strikeouts and two walks. Washington starter Trevor Williams (3-4) worked five innings and allowed two runs on seven hits, one walk and six strikeouts. Toronto right-hander Kevin Gausman allowed six runs, seven hits and four walks in 4 2/3 innings before the bullpen locked down the victory. Ian Gibaut (6-1) recorded five outs to earn the victory and Alexis Diaz pitched the ninth inning to earn his 15th save. The Giants erupted for 15 hits, seven for extra bases, and their fourth-most runs of the year to salvage one win in the three-game set.

Persons: Andrew McCutchen, Charles, Read, Marcano, Jack Suwinski, Mitch Keller, David Bednar, Jeff McNeil, Carlos Carrasco, Jorge Soler, Bryan De La Cruz, Luis Robert Jr, Soler, Garrett Cooper, Bryan Hoeing, Puk, Kendall Graveman, Seth Brown, Brent Rooker, Esteury Ruiz, JP Sears, Trevor May, Sam Long, Abraham Toro, Blake Perkins, Nolan Jones, Coco Montes, Ezequiel Tovar, Ryan McMahon, Jake Cronenworth, Fernando Tatis Jr, Blake Snell, McMahon, Tom Cosgrove, Brent, Jones, Enrique Hernandez, Kenley Jansen, Hernandez, Ron Marinaccio, Adam Duvall, Justin Turner, Triston Casas, Chris Martin, DJ LeMahieu, Anthony Volpe, Zach Neto, Shohei Ohtani, Matt Thaiss, Taylor Ward, Logan Gilbert, Griffin Canning, Teoscar Hernandez, Mike Ford, Gilbert, Corbin Carroll, Christian Walker, Kevin Ginkel, Scott McGough, Zach McKinstry, Arizona's Emmanuel Rivera, Jason Foley, Ketel Marte, Carroll, Rivera, Lourdes Gurriel Jr, flied, Walker, Marte, Kerry Carpenter, Geraldo Perdomo, Shane Bieber, Andres Gimenez, Josh Bell, Bieber, Bell, Brandon Bielak, Gimenez, Candelario, Dominic Smith, Washington, Matt Olson's, Atlanta's Bryce Elder, Elder, Trevor Williams, Nick Castellanos, Bryson Stott, Trea Turner, Bryce Harper, Taijuan Walker, Freddie Freeman, Jason Heyward, Caleb Ferguson, Gunnar Henderson, Ramon Urias, Ryan O'Hearn, Kyle Gibson, Salvador Perez, Mike Mayers, Carlos Hernandez, Franco, Shane McClanahan, Harold Ramirez, Robbie Grossman, Marcus Semien, Corey Seager, McClanahan, Matt Chapman, Kevin Gausman, Louie Varland, Donovan Solano, Alex Kirilloff, Trevor Larnach, Royce Lewis, Elly De La Cruz, Louis, De La Cruz, Ian Gibaut, Alexis Diaz, Adam Wainwright, Jordan Hicks, Nolan Arenado, Joc Pederson, Thairo Estrada, Brandon Crawford, shellacking, Pederson, Estrada, Blake Sabol, Michael Conforto, Nico Hoerner, Crawford Organizations: Pittsburgh Pirates, New York Mets, PNC, Pirates, National League Central, Pittsburgh, Mets, Marlins, White Sox, Miami, Chicago, The White Sox, Athletics, Brewers, Oakland, Milwaukee, Rockies, Padres, Colorado, San Diego, San, The Rockies, Brent Honeywell, Red Sox, Yankees, Boston, Triston, Mariners, Angeles, Seattle, Angels, Diamondbacks, Tigers, Detroit, Astros, Cleveland, Houston, Guardians, Nationals, Braves, Washington, Atlanta, House, Phillies, Dodgers, Philadelphia, Los, Orioles, Royals, Baltimore, Kansas City, Rays, Rangers, Tampa Bay, Texas, Blue Jays, Twins, Cavan Biggio, Toronto, Minnesota, Reds, Cardinals, Cincinnati, St, Giants, Cubs, The Giants, Thomson Locations: Pittsburgh , Pennsylvania, USA, Milwaukee, San, Denver, Colorado, San Diego, New York, Bronx, Boston, Anaheim , Calif, Arizona, Walker, Washington, Los Angeles, St . Petersburg, Fla, Texas, Toronto, San Francisco, Chicago, California

☆ Voting Rights Act survives at US Supreme Court but more challenges loom
▼ + stars: | 2023-06-09 | by ( John Kruzel | ) www.reuters.com time to read: +6 min

Election law expert Ned Foley of Ohio State University's Moritz College of Law called the ruling "a hugely important development for both the Voting Rights Act and the Supreme Court more broadly." The decision requires Alabama to draw a second U.S. House of Representatives district where Black voters comprise a majority or close to it. The Voting Rights Act was passed at a time when Southern states including Alabama enforced policies blocking Black people from casting ballots. Nearly six decades later, the Supreme Court continues to hear cases involving Black voters suing over electoral maps they argue diminish their influence. Thursday's ruling centered upon Section 2 of the Voting Rights Act, a provision aimed at countering measures that result in racial bias in voting even absent racist intent.

Persons: John Roberts, Brett Kavanaugh, Ned Foley, Roberts, Kavanaugh, Foley, Samuel Alito, Clarence Thomas, Amy Coney Barrett, Neil Gorsuch, Terri Sewell, Marc Elias, Elias, Brennan, Alabama, Deuel Ross, Ross, Gotell Faulks, Faulks, John Kruzel, Moira Warburton, Will Dunham Organizations: U.S, Supreme, Conservative, Republican, Ohio State University's Moritz College of Law, Alabama, U.S . House, Representatives, Black House Democrat, Democratic, Black voters, Black, Brennan Center for Justice, New York, American Civil Liberties, Thomson Locations: Alabama, U.S, Black, Louisiana, Constitution's, Montgomery, Jackson, Baton Rouge

☆ Tiny tech bank defies US massacre of the minnows
▼ + stars: | 2023-06-08 | by ( John Foley | ) www.reuters.com time to read: +6 min

One example is $1 billion Live Oak Bancshares (LOB.N), which flouts many preconceptions about what it means to be a tiny U.S. bank. But if those failures demonstrated that rapid growth brings escalating risk, Live Oak is a counterexample. Because of the way that programme is structured, around 40% of Live Oak’s lending carries a government guarantee. The company spun out its cloud-based banking software division nCino (NCNO.O) in 2014; that firm is now worth $2.8 billion, more than twice Live Oak’s value. That more earthly valuation might reflect Live Oak’s biggest risk: that it starts to look more like the rest of the pack.

Persons: it’s, Chip Mahan, SVB, It’s, Huntley Garriott, Goldman Sachs, reckons, ’, Keefe, Mahan, Liam Proud, Streisand Neto Organizations: YORK, Reuters, Wachovia, Valley Bank, U.S, Regional, Silvergate, Reuters Graphics Reuters, government’s, Business Administration, SBA, Federal, Truist, PNC Financial Services, redwoods, Twitter, Thomson Locations: United States, North Carolina, U.S

☆ Dollar edges up against yen as investors wait on inflation data, Fed
▼ + stars: | 2023-06-07 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

NEW YORK, June 7 (Reuters) - The dollar edged higher against the yen on Wednesday as investors awaited U.S. inflation data for May and the Fed’s interest rate decision next week, while the Canadian dollar jumped after the Bank of Canada hiked rates. (USCPI=ECI)"We expect a fair degree of consolidation ahead of the Fed decision next week," said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto. "That CPI number’s going to be critical for the Fed decision as well. Traders have also priced out most expectations that the Fed will cut rates this year as inflation remains above target. Australia's central bank chief on Wednesday stepped up a warning of more rate hikes ahead to temper rising price pressures.

Persons: Bipan Rai, Jane Foley, they’ll, Lou Brien, Amanda Cooper, Sharon Singleton, Emelia, Nick Macfie Organizations: YORK, Canadian, Bank of Canada, CIBC Capital Markets, Traders, Rabobank, U.S, Fed, ECB, Reserve Bank of, Thomson Locations: U.S, North American, Toronto, Canada, Australia, Chicago, Reserve Bank of Australia, London

☆ Dollar eases as chances for a U.S. rate rise ebb
▼ + stars: | 2023-06-07 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

LONDON, June 7 (Reuters) - The dollar dipped on Wednesday as chances faded for a rate hike next week by the Federal Reserve, while the Canadian dollar touched one-month highs as traders amped up bets for the country to raise rates and the Turkish lira hit record lows. "Over the last month or so, we've seen the market slowly pricing out the risks of a 2023 interest rate cut. Nonetheless, traders were attaching a higher chance that the BoC would raise Canadian interest rates again later on Wednesday. Against the dollar, sterling rose 0.3% to $1.2456, while the Japanese yen rose 0.2% to 139.40 and the euro rose 0.2% to $1.0718. Elsewhere, the Turkish lira slid as much as 7.6% to a record low of 23.16 per U.S. dollar.

Persons: Philip Lowe, Jane Foley, we've, Foley, Siong Sim, bitcoin, Coinbase, Binance, Zhao, Binance's, Rae Wee, Clarence Fernandez, William Maclean Organizations: Federal Reserve, Australian, Reserve Bank, U.S ., Rabobank, BoC, U.S, Canadian, Fed, Bank of Singapore, U.S . Securities, Exchange Commission, SEC, Thomson Locations: U.S, CHINA, China, Turkish, Singapore

☆ Warren Buffett – he invests just like us!
▼ + stars: | 2023-06-07 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

NEW YORK, June 7 (Reuters Breakingviews) - “Do as I say, not as I do” sounds like the kind of pithy thing Warren Buffett might say to his adoring throngs. The conglomerate was an investor for a dozen years, until Buffett got spooked by Freddie Mac’s overly rosy earnings growth projections. The $1.3 billion stake it finished accumulating in 1994 was worth $25 billion last month. A $13 billion stake in IBM (IBM.N) came and went, as did $8 billion of JPMorgan (JPM.N) and almost $3 billion of biopharmaceutical company AbbVie (ABBV.N). Warren Buffett, Berkshire’s chairman and CEO, said that geopolitical tensions contributed to the decision to sell most of the $4.1 billion TSMC stake just a few months after buying it, the Nikkei reported on April 11.

Persons: Warren Buffett, can’t, There’s, Buffett, Freddie Mac, Freddie Mac’s, Coke, Benjamin Moore, TSMC, ”, Wells, ” Buffett, Berkshire Hathaway, John Foley, Sharon Lam Organizations: YORK, Reuters, Berkshire Hathaway, Home Loan Mortgage, U.S ., Berkshire, BNSF, Taiwan Semiconductor Manufacturing, Buffett, ” Morningstar, Treasury, New York Stock Exchange, American Express, IBM, JPMorgan, Activision, Occidental Petroleum, Paramount Global, Oracle, Reuters Graphics Reuters, Nikkei, Thomson Locations: Berkshire, U.S, TSMC . Berkshire, Japan, Taiwan, Omaha, China

☆ Jimmy Carter's legacy: How he welcomed refugees
▼ + stars: | 2023-06-04 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +14 min

These steps Carter took during his presidency are still shaping the United States, decades after he left office. Because of Carter’s actions, hundreds of thousands of people fleeing persecution had a chance to come to the United States when he was commander-in-chief. A crisis that began before Carter took office was becoming increasingly dire by the day. That respect, Nguyen says, was earned by actions that Carter took that changed the course of her parents’ lives. “They were only able to do so because of the political courage exercised by President Carter,” she says.

Persons: Jimmy Carter’s, hasn’t, Carter, ”, Kai Bird, Jimmy Carter, Bird, Carter didn’t, Fred Ihrt, ” Carter, Bee Nguyen, it’s, Nguyen, ’, “, ” Nguyen, President Carter, AAPIHeritageMonth, –, ♥️, ince, ives, K unis,, inger, egina, sia, ould, ong, ake, ariel, haring, J, ross Organizations: CNN, CBS, The New York Times, White, ust, ashington Locations: United States, Southeast Asia, Vietnam, Saigon, Georgia, Thailand, Iowa, America, ife

☆ President Dimon would be square peg in Oval hole
▼ + stars: | 2023-06-02 | by ( John Foley | ) www.reuters.com time to read: +4 min

NEW YORK, June 2 (Reuters Breakingviews) - The idea of Jamie Dimon running for U.S. president makes sense in one way: After helming JPMorgan (JPM.N), the biggest bank in the Western world, there aren’t many bigger jobs. There are big reasons, however, why Dimon would be a square peg in an Oval Office. If part of former U.S. President Donald Trump’s appeal rested on empty claims of business savvy, Dimon is the real deal. Trump’s financial failings and Epstein connections didn’t stick, but Dimon probably won’t want to test voters again. Follow @johnsfoley on TwitterCONTEXT NEWSBillionaire fund manager Bill Ackman tweeted on May 31 that JPMorgan CEO Jamie Dimon should run for president in the 2024 elections.

Persons: Jamie Dimon, Bill Ackman, Donald Trump’s, Aubrey Immelman, There’s, Jobs, Jeffrey Epstein, Epstein, Dimon, Joe Biden, Donald Trump, Ron DeSantis, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, U.S, JPMorgan, ” Banking, Congress, Bloomberg, Trump, Florida, Republican, Thomson

☆ Treasury buyers live for the moment, unfortunately
▼ + stars: | 2023-06-01 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

The bill to suspend the so-called debt ceiling, approved by the House of Representatives on Wednesday, solves the most immediate threat to the government’s creditors. The Federal Reserve’s fight against inflation also stands to knock Treasury prices, while pushing up yields. Spending caps and other measures in the debt ceiling deal are projected to save $1.5 trillion over the next decade, the Congressional Budget Office said Tuesday. Treasury Secretary Janet Yellen warned on May 26 that the federal government would be unable to pay its bills on June 5. The U.S. House of Representatives voted 314-117 on May 31 to suspend the debt ceiling, a legislative cap on how much the Treasury can borrow that had been set at $31.4 trillion.

Persons: Goldman Sachs, That’s, Sam, Janet Yellen, Joe Biden’s, John Foley, Sharon Lam, Streisand Neto Organizations: Reuters, Treasury, Reuters Graphics Reuters, Refinitiv, Congressional, U.S . Congress, U.S . House, Senate, U.S, Treasury Department, Thomson Locations: Treasuries, U.S, Washington

☆ Target and Disney trip up on the Pride divide
▼ + stars: | 2023-05-31 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

[1/2] A shopping cart is seen in a Target store in the Brooklyn borough of New York, U.S., November 14, 2017. REUTERS/Brendan McDermid/File PhotoNEW YORK, May 31 (Reuters Breakingviews) - Target (TGT.N) and Walt Disney (DIS.N) are fighting different battles over a similar social issue. Of the two, retailer Target has the harder balancing act. The $62 billion retailer run by Brian Cornell last week decided to pull some items from its 2023 collection celebrating Pride Month. Some of Disney’s employees were upset by the regulation and Iger took a stand on their behalf.

Persons: Brendan McDermid, Walt Disney, Brian Cornell, ”, Bob Iger, Ron DeSantis, Iger, Marjorie Taylor Greene, John Foley, Sharon Lam Organizations: REUTERS, Reuters, Target, Pride, Disney, Sunshine, Cornell, Walt Disney, Fox News, Thomson Locations: Brooklyn, New York, U.S, Florida, Orlando, UK

☆ Yen firms on policymaker meeting, dollar swings after debt deal
▼ + stars: | 2023-05-30 | by ( Alun John | ) www.reuters.com time to read: +3 min

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The yen strengthened on news of the meeting, and held onto those gains, with the dollar last down 0.2% at 140.16 yen having earlier risen as high as 140.93, its highest since November 2022. That helped the dollar index , which measures the U.S. currency against six major peers, hit 104.53 in European trading its highest in 10 weeks, though then retreated to 104.02. "It seems to be win-win on almost any scenario for the dollar right now," said Jane Foley head of FX strategy at Rabobank. That, alongside a rethinking of market positioning - people had been dumping a lot of long dollar positioning since the end of last year - was supporting the dollar, she said.

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/IllustrationLONDON/SINGAPORE, May 30 (Reuters) - The yen strengthened on Tuesday on news of a meeting of Japan's finance ministry and central bank, while elsewhere the dollar rose to a two-month high against a basket of its peers after the U.S. debt ceiling deal. The dollar was last down 0.18% against the Japanese yen at 140.18 after the country's finance ministry said senior officials from the Ministry of Finance, Bank of Japan and Financial Services Agency will meet from 5:30 p.m. (0830 GMT). Japanese central bank policy has been a major focus for investors in the past year after the BOJ last year intervened to strengthen the yen. Kenneth Broux, head of corporate research for FX and rates at Societe Generale, said FX intervention at current levels was unlikely.

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