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☆ Coastal Cities Brace for Climate Change
▼ + stars: | 2024-02-01 | by ( Manuela Andreoni | ) www.nytimes.com time to read: +1 min

Over the past few weeks, flooding from storms has battered cities in the South and the East Coast, from Louisiana to New Jersey. Overlapping atmospheric rivers over the West Coast have brought heavy rains that are likely to come back in the next few days. “The problem comes when there’s too much at one time,” he said. Climate change makes that a lot more likely. Warmer air holds more moisture, which means storms in many parts of the world are getting wetter and more intense, as my colleague Ray Zhong explained during deluges last year.

Persons: Jill Cowan, Judson Jones, there’s, ”, Ray Zhong, deluges Locations: East Coast, Louisiana, New Jersey, West, Ventura County, San Diego

The recordings immediately went viral on social media, and the candidate, who is pro-NATO and aligned with Western interests, was defeated in September by an opponent who supported closer ties to Moscow and Russian President Vladimir Putin. AI images that falsely depicted former President Donald Trump sitting with teenage girls on Jeffrey Epstein’s plane circulated on social media last month. And once a deepfake appears on social media, it can be nearly impossible to stop its spread. Šimečka said his team and others complained to social media platforms and law enforcement. He said social media platforms need to “put measures in place” to prevent attempts to meddle with an election.

Persons: he’d, Vladimir Putin, ”, Joe Biden’s, Donald Trump, Jeffrey Epstein’s, Trump, “, Subrahmanian, Alex Curtas, Curtas, Jared DeMarinis, ’, ” DeMarinis, Chelsea Carattini, Ilana Beller, haven’t, ” Beller, Paul Vallas, Sean R, Clark, ” Vallas, Vallas, Brandon Johnson, ” “ We’ll, Slovakia Michal Šimečka, ” Šimečka, Šimečka, ” Daniel Milo, Milo, it’s, ” Milo, Janis Sarts, ” Sarts Organizations: CNN, NATO, Northwestern University, Senior, Twitter, Democratic, Chicago, Political, FBI, Department of Homeland Security, Public Citizen, State’s, Republican Party, Commission, Progressive, YouTube, Facebook, Slovakia’s Ministry, Meta, NATO Strategic Communications, of Excellence, Foreign Intelligence Service, Russian Intelligence Locations: Slovakia, Moscow, Europe, States, New Hampshire, Russia, China, Russian, Northwestern, American, California , Michigan, Minnesota , Texas, Washington, New Mexico, Idaho, Chicago, Progressive Slovakia, Slovakia’s, Latvia

☆ Premarket stocks: The Fed isn’t vexing markets. Here’s what might
▼ + stars: | 2024-01-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

But with practically all of Wall Street in agreement that no changes will be made, investors are focused on Fed Chair Jerome Powell’s afternoon press conference where he’ll answer questions about his outlook for monetary policy. Conflict in the Middle East and the Red Sea in particular “poses a risk to global trade,” said EY Senior Economist Lydia Boussour on Tuesday. That’s a huge blow to trade: As much as 15% of global trade and 25%-30% of global container shipments transit through the waterway. “For now, we don’t expect the situation in the Red Sea to substantially alter the outlook for global inflation and global monetary policy this year,” said Boussour. The company reported earnings per share of $2.93, beating Wall Street expectations of $2.79.

Persons: Jerome Powell’s, Powell isn’t, we’ve, ” Johns, Laurence Ball, Kevin Gordon, Charles Schwab, Gordon, ”, There’s, Jay Powell, CNN’s Arlette Saenz, Joe Biden, “, Brent, EY, Lydia Boussour, “ We’ve, Satya Nadella Organizations: CNN Business, Bell, New York CNN, Federal Reserve, ” Johns Hopkins, “, Commerce Department, West Texas Intermediate, International Monetary, Microsoft, Revenue Locations: New York, East, Europe, China, Jordan, Gaza, Suez, Iran

☆ Europe should brace for ‘harsh decisions’ if Trump is re-elected, says ECB’s Lagarde
▼ + stars: | 2024-01-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Europe should prepare for possible threats to its economy — including new US tariffs on its exports — if Donald Trump returns to the White House, according to European Central Bank President Christine Lagarde. “Let us prepare for potential tariffs, for potential harsh decisions that would be unexpected. The transatlantic relationship was strained during Trump’s first term, not least by a tit-for-tat trade spat between Washington and Brussels. That dispute saw the United States impose tariffs on EU steel and aluminum, to which the EU responded with tariffs on $3 billion worth of US goods, including whiskey, motorcycles and denim. The United States is the EU’s biggest source of foreign direct investment.

Persons: Donald Trump, Christine Lagarde, Mr Trump, ”, CNN’s Richard Quest, ” Lagarde, Trump, Trump’s, Lagarde, “ Organizations: London CNN, White, European Central Bank, United, EU, Republican, Ukraine, Russia, Trade, Trump, French, France, NATO Locations: Europe, United States, Washington, Brussels, Paris

☆ Watch Citadel CEO Ken Griffin talk financial markets, Wall Street and his outlook for 2024
▼ + stars: | 2024-01-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 10:10 a.m. Citadel CEO Ken Griffin is slated to speak to CNBC's Leslie Picker on Tuesday at the MFA Network event in Miami. The chat comes a day after the S&P 500 reached a fresh record high, building on its strong start to 2024. It also comes as traders brace for major tech earnings this week and the first Federal Reserve policy announcement on Wednesday. Griffin's hedge fund, Citadel, is also coming off a year in which it posted double-digit returns.

Persons: Ken Griffin, CNBC's Leslie Picker Organizations: Citadel, Federal Reserve, CNBC, YouTube Locations: Miami, Griffin's

☆ Investors should brace for markets to hit an 'air pocket' after recent rally, says Tom Lee
▼ + stars: | 2024-01-29 | 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 EmailInvestors should brace for markets to hit an 'air pocket' after recent rally, says Tom LeeTom Lee, Fundstrat managing partner, joins CNBC's "Last Call" to discuss his market outlook.

Persons: Tom Lee Tom Lee, Fundstrat

☆ Treasury yields pull back as big economic data releases come into view
▼ + stars: | 2024-01-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

ET, the yield on the benchmark 10-year Treasury note was down by around 3.7 basis points at 4.1050% and the yield on the 30-year Treasury bond slipped 3.7 basis points to 4.3418%. U.S. Treasury yields were lower on Wednesday morning as investors brace themselves for two key pieces of economic data in the second half of the week. Two significant pieces of economic data are on the slate this week: a preliminary fourth-quarter gross domestic product growth figure is due on Thursday, followed by the Commerce Department's closely watched personal consumption expenditures price index for December on Friday. Both data points will inform the Federal Reserve as it maps out when and by how much to begin cutting interest rates, which will be a key factor in determining the path of markets and the economy this year. Auctions will be held for $60 billion of 17-week Treasury bills, $61 billion of 5-year notes and $28 billion of 2-year FRNs (floating-rate notes).

Persons: Jim Reid, Bullard, Reid, that's Organizations: Treasury, U.S, Commerce, Federal Reserve, Deutsche Bank's, Global, Bank of Canada, European Central Bank, St Louis Fed, PMI

☆ The Los Angeles Times plunges into ‘chaos’ as brutal layoffs loom and senior editors call it quits
▼ + stars: | 2024-01-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —The Los Angeles Times is in disarray. The Dr. Patrick Soon-Shiong-owned newspaper, which houses the largest newsroom in the western U.S., has been thrown into a state of mayhem as severe layoffs loom and senior editorial leaders abruptly call it quits. “I cannot overstate the level of chaos,” one staffer, who requested anonymity because they were not authorized to speak publicly, candidly told me on Monday. Then, news of forthcoming mass layoffs ensued, prompting the employee’s union to stage a historic one-day walk out on Friday. “All we are asking for is the opportunity for our newspaper and hardworking journalists to be fairly compensated, and for the L.A. Times to have a fair chance to become a self-sustaining institution.”

Persons: Patrick Soon, “, ”, Kevin Merida, Meg James, — Julia Turner, Sara Yasin, Scott Kraft, Shani Hilton —, alums Hilton, Yasin, Turner, “ Scott, Shiong Organizations: New York CNN, Los Angeles Times, BuzzFeed, alums, Kraft, Tribune Publishing, LA Times, LA Times Studios, Democratic, California, . Locations: New York, U.S

☆ What’s next for Zee shares? Here’s what Wall Street analysts are saying after Sony merger was called off
▼ + stars: | 2024-01-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Shares of the Indian media house fell 34% on Tuesday, while investors shrugged off the impact on the $124 billion Japanese media and technology giant Sony. ZEEL-IN 1Y mountain What are analysts saying about Zee shares, moving forward? Citi sharply slashed its price target on Zee's stock from 340 Indian rupees to 180 Indian rupees. Zee has not stated whether it will pursue the merger while the litigation with Sony could hinder improvements in operations or explore a merger with other players," the analysts added. Similarly, Elara analysts added, "Possibility of any other strategic/financial partner buying majority stake in Zee could provide respite to valuation multiples."

Persons: Motilal Oswal, Zee, Motilal, Aliasgar Shakir, Karan Taurani, Pulkit Chawla, Emkay, Zee's, Punit Goenka, Chawla Organizations: Zee Entertainment, Sony, Zee, Citi, Wall, Reliance, Disney Star India, Motilal Oswal, Star, Disney, Netflix, Amazon Prime, Reliance Industries, Media, Elara, RIL, Zee Management, Quintillion Business Media, Bloomberg News, NDTV Locations: India, Zee

☆ A Michigan computer science major says he sent out 456 internship applications and only got 3 offers
▼ + stars: | 2024-01-22 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Read previewComputer science major Oliver Wu says he pulled out all the stops in his quest for a summer internship. This story is available exclusively to Business Insider subscribers. "I started applying in July, and soon I hit 200 applications," Wu said, adding that he was making 15 to 20 applications a day before the school term began. AdvertisementLast week, Google CEO Sundar Pichai told staff to brace for more job cuts this year. Wu did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, Oliver Wu, Wu, Wu isn't, Sundar Pichai, Pichai Organizations: Service, University of Michigan, Business, Newsweek, Ford, Tech, Business Insider

☆ The state of Wall Street's drug culture
▼ + stars: | 2024-01-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the state of Wall Street's drug culture. What's on deck:AdvertisementBut first, does Wall Street have a drug problem? The big storyHigh on Wall StreetVartika Sharma for BIOf the many stereotypes about Wall Street, one of the most prevalent is the industry's rampant drug use. From Martin Scorsese's "The Wolf of Wall Street" to HBO's "Industry," extreme drug use and working in finance are often portrayed as being hand-in-hand. Business Insider's finance team spoke to more than a dozen current and former finance professionals, along with several health professionals, to get a sense of Wall Street's drug culture these days.

Persons: —, Jennifer Lopez's, Vartika Sharma, Martin Scorsese's, JAMES ARTHUR GEKIERE, Marty Chavez, Goldman Sachs, Chavez, that's, It's, Ted Shaffrey, Justin Sullivan, MGM Studios Jen Salke, Rachel Weisz, Alice Birch, MGM Studios Sue Kroll, Kevin Mazur, they'll, Josephine Maida, I've Organizations: Service, Business, BI, Sixth, Apple, Netflix, Big Tech, Tech, Amazon, MGM Studios, Apple Vision, Schlumberger Locations: Wall

☆ Google CEO Sundar Pichai says the tech giant's staff must brace for more job cuts in 2024
▼ + stars: | 2024-01-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Google CEO Sundar Pichai wrote in an internal memo that there'll be more "role eliminations" in 2024. The tech giant laid off hundreds of staff working on its devices and services in January. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGoogle CEO Sundar Pichai says there will be more layoffs at the search giant in 2024.

Persons: Sundar Pichai, —, Pichai, Alex Heath Organizations: Google, Service, Business

☆ Meta workers brace for more cuts to technical program manager jobs after the role is eliminated at Instagram
▼ + stars: | 2024-01-18 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

Read previewMeta is expected to broaden its cut of technical program managers beyond the recent elimination of that role at Instagram. The TPM role is poised to be "consolidated" into the PM role in several organizations within Meta, one of the people familiar said, likely impacting hundreds of jobs. By eliminating the TPM role at Instagram, more than twice that many people are ostensibly competing for available PM roles. Meta workers face tougher performance reviewsAlong with cuts to TPM roles at Meta, annual performance reviews are wrapping up, with results to be delivered to employees early next month. The Meta spokesman said the company's approach to low-performance rankings "is not any different than it's been in the past."

Persons: —, TPMs, Mark Zuckerberg, Meta, it's, Kali Hays Organizations: Service, Business, Facebook, Reality Labs, Meta, Amazon, Google Locations: Instagram, khays@insider.com

“We have undeniable evidence of victory — lives being saved,” said John Seago, president of Texas Right to Life. For abortion-rights activists, Cox’s case was a powerful illustration of how abortion bans could be dangerous for women with pregnancy complications. Over and over, people talked about her with awe, her courage in going public.”Seago, the Texas Right to Life president, defended Texas’ abortion ban. Among leading anti-abortion activists, there’s a general consensus that women should not be prosecuted for seeking or obtaining an abortion. Conversely, some abortion opponents — including Chris Smith — fear a Democratic sweep might lead to a law overriding the state abortion bans that are now in effect.

Persons: “, ”, John Seago, Carol Tobias, Dobbs, ” Tobias, Court’s Dobbs, Roe, Wade, Brent Leatherwood, “ We’ve, –, Jeanne Mancini, Jean Marie Davis, Davis, Mike Johnson, Chris Smith, Mancini, J.J, There’s, Kate Cox, Cox, Nancy Northup, ” Seago, there’s, Jamila, “ I’m, ” Smith, Sen, Lindsay Graham, Katie Glenn Daniel Organizations: Democratic, Jackson, Health Organization, Republican, Southern Baptist, Pregnancy, U.S . Rep, Congressional, American Civil Liberties Union, Center for Reproductive Rights, Physicians, Reproductive, SBA Locations: Texas, Washington, U.S, Ohio , Kansas, Kentucky, California , New York, New Jersey, Illinois, Florida, New Mexico, Brattleboro , Vermont, New Hampshire, Idaho

☆ Semiconductor stocks surged in 2023. Why investors may want to brace for volatility in the new year
▼ + stars: | 2024-01-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Prepare for volatility in the semiconductor industry after an exuberant 2023 that saw prices surge and left many companies with lofty valuations. "Higher valuations in my experience lead to higher investor expectations and those higher investor expectations typically lead to higher volatility," said Michael Brenner of FBB Capital Partners . Computer chip stocks surged in 2023, largely due to enthusiasm surrounding the use of artificial intelligence and the need for advanced semiconductors. Bracing for volatility Semiconductor companies have a lot to prove in 2024 after wowing investors last year. KeyBanc Capital Markets' John Vinh said in a recent note to clients that auto industry semiconductor demand in the new year will benefit Analog Devices , NXP Semiconductors and On Semiconductor .

Persons: Michael Brenner, Capital's Paul Schatz, Sylvia Jablonski, Robert Pavlik, Brenner, FBB, Jensen Huang, Nvidia aren't, Schatz, Jablonski, Intel's, Ross Seymore, Seymore, Brenner isn't, John Vinh, bode, Vinh, Mizuho's Vijay Rakesh, — CNBC's Michael Bloom Organizations: FBB Capital Partners, iShares Semiconductor, Dakota Wealth, Nvidia, Broadcom, Micron Technology, Devices, Deutsche, Marvell Technology, Taiwan Semiconductor, Infineon, EV, KeyBanc, NXP Semiconductors, Semiconductor, Qualcomm, Lam Research

☆ Flight delays and cancellations: Winter weather conditions impact flights nationwide for third consecutive day
▼ + stars: | 2024-01-14 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

While an improvement from Saturday’s nearly 8,000 delays and 1,400 cancellations, the nightmarish travel weekend has seen more than 11,000 total flight delays. Denver, which is under a winter storm warning until Monday evening, saw 10% of its airport’s incoming flights canceled today. Last week, more than 200 United and Alaska Airlines flights were canceled each day due to the federally mandated grounding of Boeing 737 Max 9 aircraft. The Federal Aviation Administration instated the order after a piece of the fuselage blew off an Alaska Airlines flight on January 5 with 177 people on board. Alaska Airlines experienced the third-highest number of cancellations on Sunday, having called off nearly a quarter of its total flights.

Persons: Dallas, United Organizations: New, New York CNN, O’Hare, Buffalo Niagara International, National Weather Service, Dallas ’ Love, Alaska Airlines, Boeing, Max, Federal Aviation Administration, Southwest Locations: New York, United States, Denver, Chicago, Buffalo , New York, Texas, Virginia, Tennessee, Arkansas . Texas, United, Portland , Oregon

☆ Japan takes earthquake safety seriously. Here's how its culture of preparedness keeps so many people alive.
▼ + stars: | 2024-01-05 | by ( Jenny Mcgrath | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +10 min

With its history of natural disasters, Japan is one of the countries best prepared for emergencies. Japan now has some of the strictest building codes of any country in the world, The New York Times reported after the 2011 earthquake. Japan installs resilient infrastructureMuch like its buildings, Japan has the experience and the money to fortify its infrastructure against earthquakes. During that 2011 disaster, rapid response teams were able to quickly repair roads to help move supplies and assistance to affected areas. According to the World Bank, historical knowledge may have helped save lives during Japan's 2011 tsunami.

Persons: —, Daniel Aldrich, Aldrich, he's, Kim Kyung, They're Organizations: Service, Reuters, World Bank, Northeastern University, Japan, New York Times, BBC News, Officials, Universal Studios Japan, Kyodo, REUTERS, Japan Meteorological Society, Japan Railways, Japan Times, Guardian, KYODO, Japan Meteorological Agency, NOAA Locations: Japan, Noto, Turkey, Syria, Haiti, Pakistan, Wajima, Tokyo, Mashiki, Kumamoto, Fukushima, Natori

☆ Copper could skyrocket over 75% to record highs by 2025 — brace for deficits, analysts say
▼ + stars: | 2024-01-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

Copper prices are set to soar more than 75% over the next two years amid mining supply disruptions and higher demand for the metal, fueled by the push for renewable energy. In a December report, the investment bank forecast that the higher renewable energy targets would boost copper demand by extra 4.2 million tons by 2030. This would potentially push copper prices to $15,000 a ton in 2025, the report added, way higher than the record peak of $10,730 per ton scaled in March last year. "This assumes a very soft landing in the U.S. and Europe, an earlier global growth recovery, significant China easing," Citi analysts said, while also emphasizing on continued investments in the energy transition sector. A growing economy tends to boost demand for copper, which is used in electrical equipment and industrial machinery.

Persons: Matty Zhao Organizations: U.S, BMI, Fitch Solutions, U.S . Federal Reserve, Bank of America Securities, CNBC, Citibank, Citi Locations: Huai'an, Jiangsu Province, China, Asia, Pacific, U.S, Europe

☆ ‘No one will remember us’: India’s hero ‘rat hole miners’ who helped rescue 41 men from the Himalayan tunnel
▼ + stars: | 2023-12-06 | by ( Aishwarya Iyer | ) edition.cnn.com time to read: +7 min

“Rat hole mining may be illegal,” Lt General Syed Ata Hasnain, a retired official from India’s National Disaster Management Authority told reporters shortly after the rescue. “But a rat miner’s talent and experience is not.”Bottom of the hierarchyWorkers employed in the dangerous profession are among the most vulnerable and marginalized in India, hence the unflattering local moniker. But some of the “rat miners” said they are still waiting for details of the compensation. Conspicuously missing were the names of the 12 “rat miners” who put their lives on the line to complete that final breakthrough. Two “rat miners” went in at a time on rotating four-hour shifts, with one cutting the stone and the other pulling the debris out of the pipe.

Persons: New Delhi CNN —, Munna Qureshi, “, ” Qureshi, Qureshi, General Syed Ata Hasnain, Slimly, Hasina Kharbhih, ”, Roberto Schmidt, ” Kharbhih, Nasir Khan, B.P, Katoki, Pushkar Singh Dhami, Mohammad Irshad Ansari, Monu Kumar, crouch, Khan, Kumar, Sajjad Hussain, Ansari, ” Kumar Organizations: New, New Delhi CNN, Engineers, National Disaster Management Authority, Workers, National Green Tribunal, AFP, Getty, CNN, ” Locations: New Delhi, Uttarakhand, India, Meghalaya, Rimbay, Uttarkashi, Uttar Pradesh, AFP

The poll found that 55% of Black respondents said they feel like they must be very careful about their appearance to be treated fairly at medical visits. That’s similar to the rate for Hispanic and Alaska Native patients – and nearly double the rate for white patients. Nearly 30% of Black respondents prepare to be insulted, also about double the rate for white patients. Asians and Hispanics were three times more likely to say they’ve been treated badly in a health care setting because of their race than white respondents and Black respondents were 6 times more likely. “The consequences in health care are really striking and very frightening, honestly, to understand what people need to do to be taken seriously, to be seen as a whole person,” she said.

Persons: KFF, Christine Wright, Wright, she’s, “, you’re, ”, Drew Altman, Allison Bryant, Bryant, ” Bryant, Luna Roldán, te, they’ve, Mary Conlon, Robert Wood Johnson Organizations: Associated Press, Massachusetts General Hospital, Latina, Indians, Alaska Natives, Associated Press Health, Science Department, Robert Wood Johnson Foundation, AP Locations: Alaska, U.S, Massachusetts, Lake Worth , Florida

☆ Greek olive growers brace themselves as thieves seek pricey crop
▼ + stars: | 2023-12-05 | by ( Lefteris Papadimas | ) www.reuters.com time to read: +3 min

Tsafaras has been robbed twice, with thieves stealing more than a tonne of his olives in one incident last month. Greek police confirmed to Reuters that there is a spike in thefts of olives and olive oil across the country this year. Greece is the world's third-biggest producer of olive oil behind Italy and Spain, which have seen similar incidents. The decline in output has doubled olive oil wholesale prices to 8-9 euros per litre, according to government officials. Retail prices have reached up to 14 euros, making the crop an appealing target for thieves.

Persons: Louisa Gouliamaki, Panagiotis Tsafaras, Tsafaras, Dimitris Plakonouris, Plakonouris, Panagiotis Foudas, Lefteris Papadimas, Mark Porter Organizations: REUTERS, Reuters, Thomson Locations: Sesklo, Greece, Filiatra, Italy, Spain,

JACKSONVILLE, Fla. (AP) — Jacksonville Jaguars quarterback Trevor Lawrence injured his right ankle in the fourth quarter of Monday night’s game against Cincinnati. Left tackle Walker Little stepped on Lawrence’s ankle, causing him to twist it as he was sacked. Lawrence tried to get up, but dropped to the ground, ripped off his helmet and threw it in disgust. It ended an otherwise stellar night for Lawrence, who completed 22 of 29 passes for 259 yards and two touchdowns. Lawrence injured his other leg against Indianapolis in mid-October.

Persons: Trevor Lawrence, Walker Little, Lawrence, ___ Organizations: — Jacksonville Jaguars, Cincinnati, Indianapolis Locations: JACKSONVILLE, Fla

☆ National Bank of Canada's fourth-quarter profit jumps on capital markets strength
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

The National Bank of Canada logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsDec 1 (Reuters) - National Bank of Canada (NA.TO) reported a rise in fourth-quarter profit on Friday, as a strong performance at its capital markets unit helped offset the hit from bigger provisions. NBC's adjusted net interest income, the difference between what banks earn on loans and pay out on deposits, slumped about 35.1% to C$825 million. Its financial markets segment, however, posted an adjusted net income of C$289 million, up 42%, driven by strength in capital markets and global markets businesses. The bank's adjusted net income rose to C$867 million ($641.13 million), or C$2.44 per share, for the three months ended Oct. 31, from C$738 million, or C$2.08 per share, a year earlier.

Persons: Chris Wattie, Arasu Kannagi Basil, Shilpi Majumdar Organizations: National Bank of Canada, REUTERS, Thomson Locations: Ottawa , Ontario, Canada, Montreal, Bengaluru

☆ US bond investors brace for Fed rate cuts in 2024
▼ + stars: | 2023-11-30 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +5 min

Traders' confidence was reinforced earlier this week when Fed Governor Christopher Waller, a hawkish policymaker, flagged a possible rate cut in the months ahead. SOFR FUTURESBond investors also look to the Secured Overnight Financing Rate (SOFR) futures to gauge expectations of Fed rate moves. The June 2024 SOFR futures have priced at least one Fed cut, while the probability of two 25-basis-point rate reductions was at 76%. An OIS transaction involves exchanging an overnight rate such as the federal funds rate for a fixed one. For instance, in a U.S. two-year OIS transaction, one party receives a fixed two-year rate in exchange for paying the fed funds rate daily over the next two years.

Persons: Brendan McDermid, Robert Pavlik, Pavlik, Christopher Waller, Jerome Powell's, It's, Gertrude Chavez, Dreyfuss, Saqib Iqbal Ahmed, Stephen Culp, Alden Bentley, Paul Simao Organizations: Wall, REUTERS, Bond, U.S, Dakota Wealth Management, Fed, Spelman College, Reuters, Thomson Locations: New York, U.S, Fairfield , Connecticut, Atlanta

Coinbase has the added benefit of having survived the so-called crypto winter, while so many of its rivals disappeared or downsized. Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. With assets of more than $65 billion on the platform, Binance remains the world's largest crypto exchange globally. watch nowBoth Coinbase and Binance still face legal battles with the Securities and Exchange Commission, which was noticeably absent from the Binance settlement. Regulatory approval would open up many more avenues for people to buy bitcoin.

Persons: Brian Armstrong, Carlos Jasso, Coinbase, Sam Bankman, FTX, Changpeng Zhao, Zhao Changpeng, Binance, Zhao, CoinGecko, Mizuho, it's, CNBC's Joumanna, Armstrong, Bittrex, JPMorgan Chase, Franklin Templeton Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Tech, Reuters, Justice Department, CNBC, Mizuho, Securities and Exchange Commission, U.S, SEC, JPMorgan, WisdomTree Locations: U.S, Binance, Needham, BlackRock, WisdomTree

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