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The Wall Street Journal was first to report Peltz's push for board seats. Disney had rejected Peltz as a possible board member. Disney has undergone a period of transformation, restructuring the company and streamlining operations to make the business more cost effective. In addition, Disney is laying plans to make its flagship ESPN sports network available via streaming at some point in the future. Facing trouble last year, Disney's board brought Iger out of retirement in November for a second turn at running the company.

Persons: Mario Anzuoni, Nelson Peltz, Mickey Mouse, Peltz's, Trian, Bob Iger, Peltz, Iger, Disney, Disney's, Ed Garden, Matthew, Josh Frank, Svea Herbst, Bayliss, Krishna Chandra Eluri, Savio D'Souza, Tomasz Janowski, Leslie Adler Organizations: Walt Disney Studios, Writers Guild of America, REUTERS, Walt Disney, Peltz's Trian Fund Management, Disney, Peltz, ESPN, Svea, Thomson Locations: Burbank , California, U.S, Disney, New York, Rhode Island, Bengaluru

☆ Cory Booker says he was out jogging in Israel's Old City and had to hide in a hotel stairwell when Hamas launched its attacks
▼ + stars: | 2023-10-09 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Sen. Cory Booker was in Israel when Hamas began attacking the Jewish nation on Saturday. A spokesperson told Fox News that Booker and his staff left Israel safely on Sunday. AdvertisementAdvertisementSen. Cory Booker said he had to hide in his hotel in Israel when Hamas started firing missiles at the Jewish nation on Saturday. Booker recounted his experience fleeing to his hotel for shelter in a post on X, previously known as Twitter, on Sunday. AdvertisementAdvertisement"When I got back to the hotel, I joined others in the bomb shelter or the stairwells of the hotel," Booker continued.

Persons: Sen, Cory Booker, Booker, —, Maya Krishna, Rogers, Israel, E4BgEZxSTC — Cory Booker, Krishna Organizations: Fox News, Service, Democratic, Booker, Hamas Locations: Israel, New Jersey, Old City, Gaza, Israel's

☆ Melting Glaciers Raise Risk of Deadly Himalayan Floods
▼ + stars: | 2023-10-08 | by ( Krishna Pokharel | Tripti Lahiri | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

REUTERS/Carlos Barriaof Acquire Licensing RightsOct 7 (Reuters) - California Governor Gavin Newsom on Saturday vetoed a bill passed recently by the state legislature to explicitly ban caste discrimination, citing exiting laws that already prohibit ancestry discrimination, which made the bill "unnecessary." Had Newsom signed the bill, officially called Senate Bill 403 or SB 403, California would have become the first ever U.S. state to explicitly ban caste discrimination. U.S. discrimination laws ban ancestry discrimination though they do not explicitly mention a prohibition on casteism. Activists opposing caste discrimination said it is no different from other forms of discrimination like racism and hence should be outlawed. In California itself, last month, Fresno became only the second U.S. city to ban caste discrimination after a unanimous city council vote.

Persons: Carlos Barriaof, Gavin Newsom, Newsom, Aisha Wahab, Sundar Pichai, Satya Nadella, Arvind Krishna, Kanishka Singh, Grant McCool Organizations: REUTERS, Democratic, Seattle, U.S, Microsoft, IBM, Thomson Locations: Francisco's, San Francisco , California, U.S, California, South, Afghan American, North America, Canada, Fresno, Silicon Valley, India, Washington

☆ A CEO who replaced 90% of his support staff with an AI chatbot says copy-paste jobs are gone
▼ + stars: | 2023-10-06 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

Jobs that copy-paste responses are a thing of the past because of AI, says ecommerce company CEO Suumit Shah. Shah had previously drawn flak for announcing he replaced 90% of his support staff with a chatbot. 90% of his support staff with a chatbot. AdvertisementAdvertisementShah made headlines in July for announcing over Twitter that he had laid off 90% of his customer support staff and replaced them with a chatbot he said outperformed them. We had to layoff 90% of our support team because of this AI chatbot.

Persons: Suumit Shah, Shah, —, ince, ake, aybe, uly., ike Organizations: Service, Washington Post, Twitter, ust Locations: India

☆ Himalayan Lake Bursts in India, Leaving 14 Dead, Dozens Missing
▼ + stars: | 2023-10-05 | by ( Vibhuti Agarwal | Krishna Pokharel | ) 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/world/india/himalayan-lake-bursts-in-india-leaving-14-dead-dozens-missing-668b40aa

Persons: Dow Jones

☆ Imperial Brands sticks by forecast, announces $1.3 bln share buyback
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

A woman poses with a cigarette in front of Imperial Brands logo in this illustration taken July 26, 2022. The company also announced a share buyback of 1.1 billion pounds ($1.34 billion). Rival British American Tobacco (BATS.L) has lost more than 24% of its share value. In recent years, Imperial Brands has focused on its top five markets and expanding next-generation products deemed less harmful to health. ($1 = 0.8230 pounds)Reporting by Eva Mathews in Bengaluru; Editing by Nivedita Bhattacharjee, Krishna Chandra Eluri and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, buyback, Hargreaves, Derren Nathan, Winston, blu vapes, Richard Hunter, Eva Mathews, Nivedita Bhattacharjee, Krishna Chandra Eluri, Michael Perry Organizations: Imperial Brands, REUTERS, FTSE, British American Tobacco, Interactive, Thomson Locations: Bengaluru

☆ Sam Bankman-Fried isn't the only one on trial. The entire crypto industry is.
▼ + stars: | 2023-10-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

But first, we're looking at why FTX cofounder and ex-CEO Sam Bankman-Fried's criminal trial has implications that could upend the entire crypto industry. Bankman-Fried, the cofounder and ex-CEO of crypto exchange FTX, was deeply enmeshed in the crypto ecosystem. The proceedings will likely provide more fascinating details about the inner workings of FTX and the broader crypto industry, potentially airing out its dirty laundry and shortcomings. Chelsea Jia FengThe crypto industry, meanwhile, is ready to move on. Some in the crypto industry are embracing a more grown-up approach.

Persons: —, Sam Bankman, Donald Trump's, JANE ROSENBERG, Tom Brady, Kevin O'Leary, Michael Lewis, Katie Balevic, Jacob Shamsian, Grace Kay, Mark Cohen, Caroline Ellison, Chelsea Jia Feng, they'll, Spencer Platt, what's, Michael M, Arvind Krishna, Rahul Pandey's, Seth Wenig, AP Trump, scowled, Donald Trump, Tyler Le, Dianne Feinstein's, Kamala Harris, Sen, Chuck Schumer, Marc Anthony, Sofia Reyes, Pluma, Bad, Wells, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan, Annie Smith, Shona Ghosh, Jack Sommers, Spriha Srivastava Organizations: Service, Tech, Chelsea, Financial, Fidelity, PayPal, Visa, Getty, Treasury, Wall, Nvidia, IBM's, Meta, AP, IRS, trailblazing, Grupo Frontera, NBA, Dallas Mavericks, Minnesota Timberwolves, Etihad Arena, The Dallas Mavericks, Etihad, Corporation National Media Locations: crypto's, Plenty, trailblazing California, Abu Dhabi, New York City, San Diego, London, New York

Poli Devi, whose 11-month-old daughter Janvi was among the children who died due to kidney injury after consuming contaminated cough syrup, holds a photo of her at their house in Ramnagar on the outskirts of Jammu, India, March 28, 2023. REUTERS/Anushree Fadnavis/File Photo Acquire Licensing RightsNEW DELHI, Oct 4 (Reuters) - India's drug regulator has found that a cough syrup and an anti-allergy syrup made by Norris Medicines (NORI.BO) are toxic, according to a government report, months after Indian-made cough syrups were linked to 141 children's deaths worldwide. Koshia said Norris used to export the cough syrup, but did not say where. "We are aware of the CDSCO report and have communicated with that agency to ascertain where the products... have been exported," said a WHO spokeswoman. The CDSCO also found three batches of COLD OUT syrup made by Fourrts (India) Laboratories contaminated with DEG and EG.

Persons: Poli Devi, Janvi, Anushree, Koshia, Norris's, Norris, Vimal Shah, S.V, Veeramani, Adani Wilmar, Krishna N, Jennifer Rigby, Andrew Heavens, Nick Macfie, William Maclean Organizations: REUTERS, Norris Medicines, Central Drugs Standard Control, EG, Drug Control Administration, Reuters, World Health Organization, WHO, Laboratories, World Health Organisation, Fourrts, Pharmaceuticals Export, of India, Thomson Locations: Ramnagar, Jammu, India, DELHI, Gambia, Uzbekistan, Cameroon, Gujarat, Fourrts, Iraq, pharmexcil

☆ The CEO of IBM says he doesn't intend to 'get rid of' a single programmer because of AI
▼ + stars: | 2023-10-04 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

IBM CEO Arvind Krishna says he doesn't intend to "get rid of a single one" of his programmers because of AI. He also added that though AI could automate a "repetitive, white-collar job," it was a job creator. AdvertisementAdvertisementAmid growing fears of AI-induced job cuts, IBM's CEO Arvind Krishna says he doesn't intend to lose any programmers because of the technology. Studies have also pointed to AI boosting workers' productivity but with a greater impact on less skilled workers. AdvertisementAdvertisementAn April study that equipped customer service representatives with AI tools found that the lowest-skilled workers saw a productivity boost of 35% — while higher-skilled workers saw "closer to 0%."

Persons: Arvind Krishna, Krishna, —, Goldman Sachs, Satya Nadella — Organizations: Service, Fortune's, Bloomberg, McKinsey, IBM

☆ UAW workers and Mack Trucks reach deal to avoid strike
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden joins striking members of the United Auto Workers (UAW) on the picket line outside the GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. REUTERS/Evelyn Hockstein/File photo Acquire Licensing RightsOct 2 (Reuters) - About 4,000 workers represented by the United Auto Workers (UAW) reached an agreement with Volvo Group-owned Mack Trucks just before Sunday at midnight ET (0400 GMT), the union and the company both said. “The terms of this tentative agreement would deliver significantly increased wages and continue first-class benefits for Mack employees and their families,” said Mack President Stephen Roy, in a statement. The union announced the tentative deal on social media platform X, formerly known as Twitter. The deal must still be ratified by the UAW.

Persons: Joe Biden, Evelyn Hockstein, Mack Trucks, Mack, ”, Stephen Roy, Jahnavi, Krishna Chandra Organizations: United Auto Workers, UAW, REUTERS, Volvo Group, Twitter, Detroit, General Motors, Ford, Chrysler, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Bengaluru

☆ UAW workers at Volvo-owned Mack reach tentative agreement to avoid strike
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: 1 min

U.S. President Joe Biden joins striking members of the United Auto Workers (UAW) on the picket line outside the GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. REUTERS/Evelyn Hockstein/File photo Acquire Licensing RightsOct 1 (Reuters) - About 4,000 workers represented by the United Auto Workers (UAW) reached an agreement with Volvo Group-owned Mack Trucks on Sunday midnight, UAW said in a post on social media X, formerly known as Twitter. Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Evelyn Hockstein, Mack Trucks, Jahnavi, Krishna Chandra Organizations: United Auto Workers, UAW, REUTERS, Volvo Group, Twitter, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Bengaluru

☆ IBM CEO: Our first critical AI use case is customer service, second is code productivity
▼ + stars: | 2023-09-29 | 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 EmailIBM CEO: Our first critical AI use case is customer service, second is code productivityArvind Krishna, IBM chairman and CEO, joins 'Squawk on the Street' to discuss the company's decision to indemnify its customers against issues related to artificial intelligence, peers with similar products to IBM, and how IBM plays into the AI craze.

Persons: Arvind Krishna Organizations: IBM

☆ UBS, Credit Suisse face wider US probe over Russia sanctions -Bloomberg News
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Logos of Swiss banks UBS and Credit Suisse are seen on an office building in Zurich, Switzerland March 19, 2023. UBS declined to comment to Reuters when asked for a response to the Bloomberg News report, which said the alleged compliance failures related to UBS and Credit Suisse, which was taken over by its larger rival UBS (UBSG.S) earlier this year. A full-scale investigation by the Department of Justice focusing mainly on Credit Suisse and potential sanctions violations was now underway, added the Bloomberg report, citing people familiar with the matter. "Credit Suisse has conducted a review of these issues, the UK and French aspects of which have been closed, and is continuing to cooperate with the authorities," UBS added. The Swiss bank has also adjusted its valuation of Credit Suisse by $3 billion to cover outflows related to contingent liabilities such as law suits.

Persons: Denis Balibouse, JP Morgan, Shivani Tanna, John Revill, Krishna Chandra Eluri, Emelia, Jane Merriman, Alexander Smith Organizations: UBS, Credit Suisse, REUTERS, Rights, U.S . Department of Justice, Bloomberg, Department of Justice, Justice, United, European Union, Suisse, DOJ, Credit, Thomson Locations: Zurich, Switzerland, United Nations, United States, Switzerland's, Britain, Netherlands, France, Belgium, Swiss, Ukraine, Crimea, Bengaluru

☆ Citadel ready to battle SEC over WhatsApp probe, Bloomberg reports
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. REUTERS/Jim Bourg/File Photo Acquire Licensing RightsSept 27 (Reuters) - Billionaire Ken Griffin's Citadel will take a tougher stance against the U.S. Securities and Exchange Commission and is willing to take the regulator to court over its WhatsApp probe, Bloomberg News reported on Wednesday citing people familiar with the matter. The firms targeted by the SEC include Carlyle Group (CG.O) , Apollo Global Management(APO.N), KKR & Co (KKR.N), TPG (TPG.O), and Blackstone(BX.N), as well as some hedge funds such as Citadel. Citadel did not immediately respond to a Reuters request for comment. Reporting by Pritam Biswas in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Bourg, Ken Griffin's, Pritam Biswas, Krishna Chandra Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Bloomberg, Reuters, Carlyle Group, Apollo Global Management, KKR, Co, TPG, Blackstone, Citadel, Thomson Locations: Washington, Miami, Bengaluru

☆ Cash-strapped Faraday Future's shares sink 20% on share sale plan
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

Faraday Future's luxury electric car FF91 is seen at the company's headquarters in Gardena, California, U.S. November 21, 2019. REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsSept 27 (Reuters) - Shares of Faraday Future Intelligent Electric (FFIE.O) slumped in premarket trading on Wednesday, after the cash-strapped electric-vehicle company announced plans to raise up to $90 million through a stock offering. Shares of the company, that has a market value of $45.75 million, dropped 20% to $1.94 in trading after closing at a record low of $2.46 on Tuesday. Its shares have dropped over 85% so far in 2023. Reporting by Medha Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Faraday, Lucy Nicholson, Matthias Aydt, Medha Singh, Krishna Chandra Organizations: REUTERS, FF, Thomson Locations: Gardena , California, U.S, Los Angeles, Bengaluru

Sept 26 (Reuters) - Shares of Immunovant (IMVT.O) surged nearly 80% on Tuesday, after early-stage data from its experimental antibody treatment exceeded analysts' expectations. Immunovant is developing its antibody drug, IMVT-1402, as an under-the-skin injection to potentially treat autoimmune diseases. Immunovant's experimental drug reduced the levels of IgG, or immunoglobulin antibodies, that cause inflammation and disease in healthy adults. Shares of Roivant Sciences (ROIV.O), Immunovant's largest shareholder with a 56.5% stake, according to LSEG data, also rose 17.5% to $12. The positive data from IMVT-1402 could give Roivant another "potentially blockbuster" candidate to transact, after its experimental treatment for bowel disease, Jefferies analyst Dennis Ding said.

Persons: J.P, Morgan, Brian Cheng, drugmakers Johnson, Johnson, Hytrulo, Immunovant, transact, Jefferies, Dennis Ding, Bhanvi, Krishna Chandra Organizations: UCB, Roivant Sciences, Thomson Locations: United States, York, IMVT, Bengaluru

☆ FDA staff reviewers raise concerns over BrainStorm Cell's ALS therapy
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. Brainstrom's therapy, NurOwn, is being reviewed for the treatment of ALS, also known as Lou Gehrig's Disease, which affects nerve cells in the brain and spinal cord. The FDA had in November last year refused to accept the application for the therapy after BrainStorm failed to meet the main goal in a late-stage study. Over the last one year, the FDA has given accelerated approvals to Amylyx Pharmaceuticals' (AMLX.O) drug Relyvrio and Biogen's (BIIB.O) Qalsody for treatment of ALS. A panel of external advisors to the FDA is set to vote on the effectiveness of the therapy in ALS patients on Wednesday.

Persons: Andrew Kelly, Lou Gehrig's Disease, Amylyx, Mariam Sunny, Leroy Leo, Krishna Chandra Organizations: Food and Drug Administration, FDA, REUTERS, U.S . Food, Drug, Cell Therapeutics, Amylyx Pharmaceuticals, ALS Association, Thomson Locations: White Oak , Maryland, U.S, Bengaluru

☆ Amazon to roll out ads on Prime Video in 2024
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of streaming service Amazon Prime Video is seen in this illustration picture taken March 5, 2021. REUTERS/Danish Siddiqui/Illustration/File Photo Acquire Licensing RightsSept 22 (Reuters) - Amazon (AMZN.O) Prime Video will next year join streaming rivals in rolling out ads and introducing a higher-priced ad-free tier, as the industry grapples with a slowdown in subscriber growth since the pandemic. Amazon's ad-free tier will cost another $2.99 per month in the U.S., where a Prime subscription currently costs $14.99 per month, or $139 per year. Amazon already shows ads on live event content such as NFL's Thursday Night Football, a practice that will continue even if the subscriber has paid for the ad-free plan, the company said. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Savio D'Souza and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Danish Siddiqui, Amazon's, Walt Disney, Samrhitha, Savio D'Souza, Krishna Chandra Organizations: Amazon, REUTERS, Danish, Netflix, Disney, Thomson Locations: U.S, Germany, Canada, France, Italy, Spain, Mexico, Australia, Bengaluru

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

☆ Global central banks unite in "higher for longer" credo
▼ + stars: | 2023-09-21 | by ( Mark John | ) www.reuters.com time to read: +6 min

The so-called "higher for longer" mantra is now the official stance of the U.S. Federal Reserve, European Central Bank and the Bank of England, as well as being echoed by monetary policy-makers from Oslo to Tapei. U.S. Federal Reserve policymakers had a similar message on Wednesday. Turkey's central bank confirmed its hawkish turn while in Asia, Taiwan's central bank flagged continued tight policy. Reuters Graphics"TIPPING POINT"Belgian central bank chief and ECB board member Pierre Wunsch - an early voice urging tougher central bank action to counter inflation from end-2021 - said on Thursday that monetary policy was now at the right level. That said, the prospect that global interest rates are pretty close to peak will be of huge relief to emerging economies suffering from heavy debt servicing loads.

Persons: Jerome Powell, Christine Lagarde, Kazuo Ueda, Ann, BoE, Andrew Bailey, Pierre Wunsch, Wunsch, COVID lockdowns, Jerome, Powell, Krishna Guha, Howard Schneider, Balazs Koranyi, Catherine Evans Organizations: European Central Bank, Bank of Japan, Kansas City Federal, REUTERS, U.S . Federal Reserve, Bank of England, U.S . Federal, Swiss National Bank, South African Reserve Bank, People's Bank of, Reuters, ECB, Reuters Global Markets, Economics, Sterling, Swiss, United, Thomson Locations: Jackson Hole , Wyoming, U.S, Central, Oslo, Tapei, Europe, Norway, Sweden, Asia, People's Bank of China, Belgian, United States, Ukraine, Washington, Frankfurt, London, Stockholm, Zurich, Ankara

☆ Broadcom falls on report Google discussed dropping firm as AI chip supplier
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The report said Google's deliberations follow a standoff between the company and Broadcom over the price of the TPU chips. Broadcom, Google and Marvell did not immediately respond to Reuters' requests for comment. Broadcom is seen as the second-biggest winner from the generative AI boom after Nvidia (NVDA.O). Google co-designs its AI chips with Broadcom and tech giant has already lined up the semiconductor firm for its sixth generation processor, the analysts said. That push has accelerated this year after prices surged for Nvidia's H100, the chip that powers most generative AI apps, to nearly double its original cost of $20,000.

Persons: Dado Ruvic, Marvell, Hock Tan, Morgan, Kanjyik Ghosh, Aditya Soni, Savio D'Souza, Nivedita Bhattacharjee, Krishna Chandra Organizations: Broadcom, REUTERS, Google, Microsoft, Marvell Technology, Nvidia, Meta, Nvidia's, Thomson Locations: J.P, Bengaluru

☆ What higher-for-longer Fed policy will mean for the markets and economy
▼ + stars: | 2023-09-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

For Fed Chair Jerome Powell, who spoke to the press after the two-day session ended, "Resetting market expectations about real rates was his most important mission," Colas said. But this week's meeting indicated that Fed officials expect rates to stay higher for longer. The thinking there is that if inflation moves lower, the Fed won't need to keep nominal rates as high because real rates will be rising. "But, until one or both of those things happen, higher real rates are the Fed's strategy to tame inflation," Colas said. "This tells us that current equity market churn is unlikely to end until bond markets have settled out."

Persons: wasn't, Nicholas Colas, Jerome Powell, Colas, Krishna Guha, Claudia Sahm, Guha, Powell, Powell's, Morgan Stanley, Ellen Zentner, Goldman Sachs, Goldman, David Mericle, Goldman doesn't, Mericle, DataTrek's Colas Organizations: DataTrek Research, Companies, Evercore ISI, U.S ., Fed

☆ Cheerios maker General Mills beats quarterly sales, profit estimates on higher prices
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] Packages of Cheerios, a brand owned by General Mills, are seen in a store in Manhattan, New York, U.S., November 12, 2021. Its organic average selling prices rose 7 points, while organic volumes were down 2 points. Its pet food segment logged flat organic net sales as customers shifted towards more value-oriented products as well as smaller pack sizes. The Cheerios cereal maker reported net sales of $4.91 billion in the first quarter compared with analysts' expectations of $4.88 billion, according to LSEG data. Excluding one-off charges, General Mills earned $1.09 per share, compared with estimates of $1.08.

Persons: General Mills, Andrew Kelly, Mills, Granth, Krishna Chandra Organizations: General, REUTERS, North, Thomson Locations: Manhattan , New York, U.S, Minnesota, North America, Bengaluru

☆ Fed's higher for longer decision is due to unemployment data, not inflation: Fmr. CEA Chair Furman
▼ + stars: | 2023-09-20 | 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 EmailFed's higher for longer decision is due to unemployment data, not inflation: Fmr. CEA Chair FurmanJason Furman, Former Council of Economic Advisers Chair and Krishna Guha, Evercore ISI Vice Chairman, join 'Closing Bell Overtime' to talk the Fed's decision to leave interest rates unchanged this month.

Persons: Furman Jason Furman, Krishna Guha, Evercore Organizations: CEA, Furman, of Economic

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