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☆ Siemens Energy clinches state guarantees as it posts a 4.6 billion euro annual loss
▼ + stars: | 2023-11-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Siemens Energy has secured 7.5 billion euros ($8.15 billion) in project-related state guarantees from the German government, hours before announcing a nearly 5 billion euro loss for its fiscal year. Problems with manufacturing faults at its wind turbine subsidiary Siemens Gamesa led Siemens Energy to scrap its profit forecast earlier this year. The guarantees are intended to insure the company's customers on prepayments and execution of contracts in order to shore up its huge 112 billion euro order book. On Wednesday, the company reported an annual net loss of 4.6 billion euro for its fiscal year, compounded by a fourth-quarter net loss of 870 million euros. The company denied the fiscal guarantees constitute "state aid," with Siemens Energy CEO Christian Bruch telling CNBC on Wednesday that there is no cash involved.

Persons: Christian Bruch, Bruch, it's, CNBC's Organizations: Siemens Energy, Siemens AG, Private, Siemens, CNBC

☆ UK inflation falls by more than expected in October to 4.6%, lowest in two years
▼ + stars: | 2023-11-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Food and non-alcoholic beverages also contributed to the easing of inflation, with the annual rate falling to its lowest since June 2022. The largest downward contribution came from housing and household services, the Office for National Statistics revealed, where the annual rate for CPI hit the lowest since records began in January 1950. Core CPI — which excludes volatile food, energy, alcohol and tobacco prices — fell to an annual 5.7% in October from 6.1% in September. LONDON — U.K. inflation fell sharply in October to 4.6% from 6.7% the previous month, hitting a two-year low. The drop was welcome news for Downing Street after Prime Minister Rishi Sunak committed to halving U.K. inflation back in January, when the annual CPI rate was running above 10%.

Persons: Rishi Sunak, Lindsay James Organizations: National Statistics, CPI, Reuters, LONDON, Bank of England, Downing, Bank of England's, Quilter Investors, Monetary

☆ He Won’t Stop Taking Pictures Until He’s Partying on the Other Side
▼ + stars: | 2023-11-14 | by ( Alex Pappademas | ) www.nytimes.com time to read: +1 min

Diltz is compactly built, with a gray ponytail, a ringer in old age for the actor Seymour Cassel, a John Cassavetes mainstay. He falls asleep at night listening to George Noory on “Coast to Coast AM” rapping with the paranoid faithful about lucid dreams, conspiracies, immortality. Diltz has survived Cass Elliot, a couple of Eagles, all but one of the Monkees. The other day someone called and told him the news about Robbie Robertson. Another old friend, David Crosby, died in January.

Persons: Seymour Cassel, John Cassavetes, George Noory, He’s, Dan Fogelberg, David Cassidy, Diltz, Cass Elliot, Elizabeth Joy Grand, Robbie Robertson, —, David Crosby, Horatio Hornblower —, Crosby Organizations: Eagles, Monkees, CSN Locations: “

European markets were mixed on Tuesday, with investors looking ahead to preliminary third quarter gross domestic product data from the euro zone, along with October's U.S. inflation print. The pan-European Stoxx 600 index was roughly flat in early trade. Other data releases include the single currency area's unemployment figures for the third quarter and Germany's ZEW survey of economic sentiment in November. Asia-Pacific markets rose overnight as investors looked ahead to highly anticipated talks between the U.S. and China as well as more economic data. U.S. stock futures were flat overnight as investors prepare for the October consumer price index reading slated for release before the start of U.S. trading.

Persons: Joe Biden, Xi Jinping's Organizations: October's, Vodafone, RWE, Imperial Brands ., U.S, Federal Locations: Imperial Brands . Asia, Pacific, China, San Francisco

☆ UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession
▼ + stars: | 2023-11-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Meanwhile, the bank's economists suggested that "fewer of the supports for growth that enabled 2023 to overcome those obstacles will continue in 2024." Between March 2022 and July 2023, the FOMC enacted a run of 11 rate hikes to take the Fed funds rate from a target range of 0.25-0.5% to 5.25-5.5%. The bank believes this has renewed growth concerns and shows the economy is "not out of the woods yet." watch now"In our view, the private sector looks less insulated from the FOMC's rate hikes next year. Looking ahead, we expect substantially slower growth in 2024, a rising unemployment rate, and meaningful reductions in the federal funds rate, with the target range ending the year between 2.50% and 2.75%."

Persons: Jerome Powell, Evelyn Hockstein, Arend, You've, CNBC's Joumanna Organizations: Federal, Federal Reserve, Reuters UBS, U.S . Federal Reserve, UBS, Labor, CNBC, UBS European Conference Locations: Washington , U.S, U.S, Swiss, Europe

☆ Top Boeing exec says 2023 will be the 'year of widebody orders' with more deals to come
▼ + stars: | 2023-11-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A Boeing 777x is displayed during the International Paris Air Show at the ParisLe Bourget Airport, on June 20, 2023. Boeing Commercial Airplanes CEO Stan Deal says 2023 has been a year of orders for widebody aircraft with the U.S. manufacturer expecting to announce more deals at this week's Dubai Airshow. His comments come after reports that Boeing and Emirates are close to agreeing a major order of 777 jets, adding to the Emirati flag carrier's existing order backlog of 155 777X aircraft from Boeing. "We've seen strong recovery in the narrow-body ordering in 2022 and now in 2023 it seems to be the year of widebody orders, and I suspect as you see this show unfold, you're going to see many more widebody orders for the industry," Deal, who is also the executive vice president of Boeing, told CNBC's Dan Murphy. Earlier this year, Saudi Arabian flag carrier Saudia and the newly-established Riyadh Air each logged orders for 39 of Boeing's 787 Dreamliner jets, and Deal believes demand from the Gulf will continue to grow rapidly.

Persons: Stan Deal, We've, CNBC's Dan Murphy Organizations: Boeing, International Paris Air, Boeing Commercial, Emirates, Riyadh Air, Deal Locations: ParisLe, U.S, Dubai, Saudi Arabian, Riyadh

☆ UK Interior Minister Suella Braverman fired after she accused London police of political bias
▼ + stars: | 2023-11-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

UK Home Secretary Suella Braverman attends the weekly government cabinet meeting at 10 Downing Street on May 23, 2023 in London, England. LONDON — U.K. Prime Minister Rishi Sunak on Monday fired controversial Interior Minister Suella Braverman, as he begins a reshuffle of his top cabinet. In a shock move, former Prime Minister David Cameron was announced as the new foreign minister. "While I have been out of front-line politics for the last seven years, I hope that my experience – as Conservative Leader for eleven years and Prime Minister for six – will assist me in helping the Prime Minister to meet these vital challenges." Braverman drew widespread criticism last week after printing an op-ed in The Times newspaper that ignored guidance from Downing Street and accused London police of political bias in policing protests.

Persons: Suella Braverman, Rishi Sunak, James Cleverley, David Cameron, Cameron, Braverman, Liz Truss, Israel's, Sunak, Conservative frontbencher Paul Bristow Organizations: Downing, LONDON, Monday, Braverman, Home, Conservative, The Times, London, Palestine, CNBC, Palestinian, Hamas, Department for Science, Innovation, Technology, Conservative Party, Labour Party Locations: London, England, Ukraine, Northern Ireland, Gaza

☆ Wind power industry in moment of reckoning as stocks fall and earnings crumble
▼ + stars: | 2023-11-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

Ina Fassbender | AFP | Getty ImagesRenewable energy firms are mostly suffering a dire earnings season as struggling supply chains, manufacturing faults and rising production costs eat into profits. Manufacturing faults, most notably at Siemens Energy 's wind turbine subsidiary Siemens Gamesa, have emerged as companies race to build turbines at a greater pace and scale. Specialist wind energy firms are also often finding themselves outbid for seabed licenses by traditional oil and gas players. As a result, most wind energy stocks are down sharply since the turn of the year. The firm's economists said the past earnings season was a "learning moment" for the industry.

Persons: Ina Fassbender, Ørsted, Vestas, Henrik Andersen, " Andersen, Jacob Pedersen, it's, " Pedersen, CNBC's, Pedersen Organizations: International Energy Agency, AFP, Getty, Siemens Energy, Siemens Gamesa, Allianz Research, CNBC Wednesday, Sydbank Locations: Germany, Europe, U.S

☆ Barbra Streisand, in Her Own Words
▼ + stars: | 2023-11-12 | by ( Desiree Ibekwe | More About Desiree Ibekwe | ) www.nytimes.com time to read: +1 min

This year’s memoirs have kept ravenous consumers of celebrity culture well fed. Now, Barbra Streisand joins their ranks with “My Name Is Barbra,” a memoir released on Tuesday. At almost 1,000 pages, “it’s not a book you inhale,” the Times critic at large, Wesley Morris, writes. “Streisand is poring over, pouring out, her life.”Her childhood, in a Brooklyn housing project, was emotionally fraught. Her father died when she was just over a year old; her mother was emotionally unavailable, and her stepfather was distant.

Persons: Prince Harry plumbed, Britney Spears, Elliot Page, Patrick Stewart, Henry Winkler, Kerry Washington, Pamela Anderson, Barbra Streisand, “, ”, “ it’s, Wesley Morris, Streisand, Fanny Brice, Marlon Brando, Pierre Trudeau Organizations: Paris Hilton, Greenwich Village, Canadian Locations: Brooklyn

☆ Opinion: Marjorie Taylor Greene botches the explanation
▼ + stars: | 2023-11-12 | by ( Richard Galant | ) edition.cnn.com time to read: +18 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —On the day after Republicans lost pivotal races in Kentucky, Ohio and Virginia last week, Rep. Marjorie Taylor Greene offered a diagnosis for her party’s ills. On Tuesday, Ohio voters passed an amendment to the state constitution that guarantees abortion rights. The disconnect may or may not cost Trump votes in 2024, but it’s hurting Republicans up and down the ballot. “Democrats will win in 2024 by making the election a choice, not just a referendum on Biden’s performance in office.

Persons: Marjorie Taylor Greene, CNN’s Manu Raju, Donald Trump, Roe, Wade, Trump, ”, Kate Bedingfield, Joe Biden’s, Youngkin, ” Bill Bramhall, Bedingfield, They’ll, Julian Zelizer, Biden, ” Clay Jones, ” Clay Jones Republican Lanhee Chen, — don’t, Chen, “, ” Mary Ziegler, Davis, Republicans don’t, Comstock, Nikki Haley, Ana Marie Cox, Ron DeSantis, Vivek Ramaswamy, Dick Cheney, ’ Haley, Haley, Ramaswamy, ‘, Haley “, ” Patrick T, Brown, ” Roxanne Jones, DeSantis, Todd Graham, Bill Bramhall, Mary Ellen O’Connell, ” “, ” John Spencer, he’s, Al Qaeda, Peter Bergen, Israel, Hani Almadhoun, Suzanne Nossel, Frida Ghitis, Walt Handlesman, Ivanka Trump, Elliot Williams, Letitia James, Williams, ” Williams, Nick Anderson, Ian Berry, Bob Dylan, Anna Lee, I’d, William, I’ll, Bethany McLean, Joe Nocera, Dr, Kent Sepkowitz, ” Sepkowitz, ” Don’t, Corey Mintz, DoorDash, Paul Rieckhoff, Jill Filipovic, Shannon Watts, Jade McGlynn, Keith Magee, King Charles, Sara Stewart, Priscilla ’, Barbra Streisand, CHANEL, Presley Ann, Patrick McMullan, Holly Thomas, James Brolin, Barbra’s, Thomas Organizations: CNN, Republicans, Trump, “, White House, State Senate, Biden, ” Clay Jones Republican, University of California, Department of Justice, Florida Gov, Republican, Senate, Content Agency Israel, Hamas, University of Notre Dame, Modern War, Twitter, Facebook, ISIS, Content Agency Trump, New York, Trump Organization, “ Trump, —, Tribune, Agency, College of, Getty, BBC Locations: Kentucky , Ohio, Virginia, Georgia, “, Mexico, Ohio, State, Michigan, Pennsylvania, Arizona, Kentucky, Mississippi, Florida, Miami, Hialeah , Florida, Trump, Israel, Gaza, Hamas, West, Mosul, Raqqa, Manhattan, New York City, Ukraine, Malibu , California, Greenwich Village

☆ Motorsport icon Marc Marquez shares the biggest lesson and toughest decision of his career
▼ + stars: | 2023-11-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

BURIRAM, THAILAND - OCTOBER 28: No.93 Marc Marquez of Spain and Repsol Honda Team during qualifying at Chang International Circuit on October 28, 2023 in Buriram, Thailand. (Photo by Supakit Wisetanuphong/MB Media/Getty Images) Supakit Wisetanuphong/mb Media | Getty Images Sport | Getty ImagesMotoGP legend Marc Márquez says leaving Repsol Honda — where he has won six premier class world titles over the last decade — was the biggest and most difficult decision of his career. Márquez will leave his current team at the end of this season of Grand Prix motorcycle racing (MotoGP). Since then, a series of serious injuries and a drop-off in performance of the Honda bike relative to rival manufacturers, particularly the currently dominant Ducati, have prevented him from tilting at a record-equalling seventh premier class world championship. At Gresini Ducati, a satellite team of the flagship Ducati Lenovo factory team, Márquez will be riding what is currently the most dominant bike on the grid.

Persons: Marc Marquez, Spain, Supakit Wisetanuphong, Supakit, Marc Márquez, Repsol, —, Márquez, Joan Mir, Gresini, PHILLIP, Mirco Lazzari Organizations: Repsol Honda Team, Chang, Circuit, Getty, Repsol Honda, Prix, Honda, Ducati, Gresini Ducati, CNBC, videolink, Malaysian, Phillip, Ducati Lenovo Locations: BURIRAM, THAILAND, Buriram, Thailand, Malaysia, PHILLIP ISLAND, AUSTRALIA, San Remo, Phillip Island, Australia

☆ European markets set for lower open after Fed Chair Powell comments
▼ + stars: | 2023-11-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

The logo of London Stock Exchange Group Plc in the office atrium in the City of London, UK, on Tuesday, March 14, 2023. LONDON — European markets are set to retreat on Friday morning after U.S. Federal Reserve Chair Jerome Powell said the central bank is "not confident" it has done enough to rein in inflation. The Fed last week held rates unchanged, along with the Bank of England and the European Central Bank, with markets now turning their attention to when rate cuts will begin next year — a position central bankers have tentatively pushed back against. Stock futures stateside pointed to a fractionally higher open on Wall Street Friday. European shares closed Thursday's session up 0.8% after a boost from a strong set of corporate earnings reports, which will likely continue to drive individual share price action Friday.

Persons: Jerome Powell, Powell Organizations: London Stock Exchange Group, City of, LONDON, Federal, Bank of England, European Central Bank, Stock Locations: City, City of London, Asia, Pacific, U.S

☆ UK economy flatlines as finance minister decries inflation drag
▼ + stars: | 2023-11-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The U.K. economy flatlined in the third quarter, initial figures showed Friday. Services sector output dropped 0.1% on the quarter, but the decline was offset by a 0.1% increase in construction performance, while the production sector flatlined. U.K. Chancellor of the Exchequer Jeremy Hunt said high inflation remains the "single greatest barrier to economic growth" in the country, with the consumer price index remaining at 6.7% year-on-year in September. While somehow avoiding a recession this year, today's no growth reading means the UK economy is flatlining with only 0.2% economic growth in the last six months." As the Bank of England stated earlier this month that more than half of the impact of higher interest rates on the level of GDP is still to come through, the U.K. economy faces growing headwinds as we approach 2024."

Persons: Jeremy Hunt, Hunt, Lindsay James Organizations: Gross, Services, Chancellor, Quilter Investors, Bank of England Locations: Canary, London, U.K

Sustainability-linked loans (SLL), which were first used in 2017, offer slightly cheaper borrowing, typically around 2.5-10 basis points less, if companies meet goals such as cutting their carbon emissions or improving board diversity. These let banks strip the sustainability-linked label from the loans if targets are no longer deemed appropriate. The banks' tougher standards are discouraging some borrowers from using SLLs entirely, bankers and lawyers told Reuters. The Engie spokesman said the utility would not agree to linking an event of default to sustainability targets. "We have stated our willingness to walk away when sustainability targets were too soft," said Brittany Agostino, vice president in the environmental, social and governance group at Los Angeles-based Ares.

Persons: Toby Melville, Banks, Constance Chalchat, Pascale Forde Maurice, Elliot Beard, Simmons, Beard, I've, David Milligan, Norton Rose Fulbright, Gemma Lawrence, Pardew, Brittany Agostino, Fredrik Altmann, Tommy Reggiori Wilkes, Isla Binnie, Shankar Ramakrishnan, Simon Jessop, Alexander Smith Organizations: FCA, Financial, Authority, REUTERS, LONDON, BNP, Corporate, Institutional Banking, Reuters, JPMorgan, Ford Motors, SLLs, CIB's, European, Sustainable Investment Banking, Simmons, Norton Rose, Market Association, BMW, Porsche, Thomson Locations: London, Britain, North America, Asia, Los Angeles, New York

☆ UBS resumes selling the bonds at the heart of Credit Suisse controversy
▼ + stars: | 2023-11-08 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

UBS on Wednesday began selling Additional Tier 1 (AT1) bonds — which were at the heart of controversy during its emergency rescue of Credit Suisse — for the first time since completing the takeover. Non-call bonds are bonds that only pay out at maturity. UBS confirmed to CNBC that it is offering additional tier 1 securities, but did not comment on the details of the contracts and said it will provide additional information when the offering is complete. The wipeout of $17 billion of Credit Suisse AT1 bonds, as part of the rescue deal brokered by Swiss authorities in March, caused uproar among bondholders and continues to saddle the Swiss government and regulator with legal challenges. AT1 bonds are considered a relatively risky form of junior debt and are often owned by institutional investors.

Organizations: UBS, Wednesday, Credit Suisse —, CNBC, Credit Suisse, Swiss Locations: Swiss

European markets are heading for a negative open, continuing negative momentum since the start of the week. Corporate earnings continue to drive individual share price movement in Europe. Commerzbank, Credit Agricole, Marks and Spencer, Telefonica, Adidas and ABN Amro all reported Wednesday morning. Elsewhere overnight, most Asia-Pacific markets edged lower, extending declines from the previous session, while Japanese blue-chip stocks stayed afloat after a positive business sentiment survey. U.S. stock futures were flat overnight after the S&P 500 and Nasdaq Composite notched their longest winning streaks in about two years.

Organizations: Credit, Telefonica, Adidas, ABN Amro, Nasdaq Locations: Europe, Spencer, Asia, Pacific

☆ Obama, Hamas and ‘Complicity’
▼ + stars: | 2023-11-07 | by ( Elliot Kaufman | ) www.wsj.com time to read: +1 min

Journal Editorial Report: Paul Gigot interviews Alaska GOP Senator Dan Sullivan. Images: Getty Images/Zuma Press Composite: Mark KellyEven Barack Obama supported Israel in dismantling Hamas, a senior Israeli official was eager to tell me early in the war. The former president said so in a 73-word statement on Oct. 9. But on Oct. 23, in a 1,130-word statement, Mr. Obama called for Israeli restraint. Now, on the “Pod Save America” podcast, Mr. Obama counsels “an admission of complexity.” In a part of the interview released Saturday, Mr. Obama says: “What Hamas did was horrific and there’s no justification for it.

Persons: Paul Gigot, Dan Sullivan, Mark Kelly, Barack Obama, Obama, “, that’s Organizations: Hamas Locations: Alaska, Israel

☆ Corona beer maker's new plan to reduce costs makes stock even more attractive
▼ + stars: | 2023-11-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Constellation Brands ' (STZ) push to reduce costs gives us increased confidence that the Corona and Modelo beer maker can deliver strong future growth and create additional value for shareholders. Management said that by optimizing its beer expansion efforts, the company was able to reduce $1 billion in expenses. Since last month's trade, shares of Constellation were up roughly 3%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer, Elliot Management, Jim Cramer's, Jim, Scott Eells Organizations: Constellation Brands, Corona, Modelo, Barclays, Management, Wine, Constellation, CNBC, Bloomberg, Getty Locations: New York

☆ French prosecutors investigating Sanofi over possible market manipulation
▼ + stars: | 2023-11-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A logo on the Sanofi exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. French prosecutors have opened a preliminary investigation into multinational pharmaceutical company Sanofi over possible market manipulation. "Sanofi is not aware of any preliminary investigation on its 2017 accounts or other matter by the Parquet National Financier. We stand by the accuracy of our accounts," Sanofi said in an emailed statement. "As a listed company, the financial information published by Sanofi is accurate, precise and sincere, and is duly audited by two auditing firms.

Persons: Sanofi, — CNBC's Charlotte Reed Organizations: Sanofi, Viva Technology, Porte de, CNBC, National Locations: Porte, Paris, France, National

☆ Central banks look to have hit peak rates. Here's how markets think they'll come down
▼ + stars: | 2023-11-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

The U.S. Federal Reserve, European Central Bank and the Bank of England dramatically hiked rates over the last 18 months in a bid to tame runaway inflation. Reid also highlighted that this is the seventh time this cycle that markets have notably reacted on dovish speculation. "Clearly rates aren't going to keep going up forever, but on the previous 6 occasions we saw hopes for near-term rate cuts dashed every time. In clear, waiting for inflation to reach 2% before cutting rates would be 'overkill,'" Moëc said. However, minutes from last week's meeting reiterated the Monetary Policy Committee's expectations that rates will need to stay higher for longer, with U.K. CPI holding steady at 6.7% in September.

Persons: Jerome Powell, Brendan McDermid, nonfarm payrolls, DBRS Morningstar, Jim Reid chalked, Reid, we've, Gilles Moëc, Moëc, Christine Lagarde, Yannis Stournaras Organizations: Federal Reserve, New York Stock Exchange, U.S . Federal Reserve, European Central Bank, Bank of, Fed, PCE, DBRS, Deutsche Bank, ECB, AXA, National Bank of Greece, of, Bank of England, CPI, BNP Locations: New York City, Bank of England, U.S, Europe

☆ UBS shares rise 3.5% as market focuses on strong underlying profit
▼ + stars: | 2023-11-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

UBS shares climbed on Tuesday morning after the Swiss banking giant resoundingly beat expectations for underlying profit. The bank recorded an underlying operating profit before tax of $844 million, well ahead of consensus expectations. Credit Suisse Wealth Management generated positive net new money inflows for the first time since the first quarter of 2022, contributing to inflows of $22 billion for UBS Global Wealth Management. Our clients have continued to place their trust and confidence in us, contributing to strong inflows across wealth management and our Swiss franchise," CEO Sergio Ermotti said in a statement. This is then slightly offset by heavier provisions," they noted, adding that the acceleration of Wealth Management net new money inflows in September was also "encouraging."

Persons: Sergio Ermotti Organizations: UBS, Credit Suisse, Reuters, Credit Suisse Wealth Management, UBS Global Wealth Management, Group, Swiss, Citi, Management Locations: Swiss

☆ Goldman Sachs says the Israel-Hamas war could have major implications for Europe's economy
▼ + stars: | 2023-11-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

The Israel-Hamas war could have a significant impact on economic growth and inflation in the euro zone unless energy price pressures remain contained, according to Goldman Sachs . The ongoing hostilities could affect European economies via lower regional trade, tighter financial conditions, higher energy prices and lower consumer confidence, Europe Economics Analyst Katya Vashkinskaya highlighted in a research note Wednesday. Concerns are growing among economists that the conflict could spill over and engulf the Middle East, with Israel and Lebanon exchanging missiles as Israel continues to bombard Gaza, resulting in massive civilian casualties and a deepening humanitarian crisis. She noted that tighter financial conditions could weigh on growth and exacerbate the existing drag on economic activity from higher interest rates in both the euro area and the U.K. However, Goldman does not see a clear pattern between financial conditions and previous episodes of tension in the Middle EastThe most important and potentially impactful way in which tensions could spill over into the European economy is through oil and gas markets, Vashkinskaya said.

Persons: Goldman Sachs, Katya Vashkinskaya, Goldman, Vashkinskaya Organizations: Israel Defense Forces, Hamas Locations: Gaza, Israel, Palestinian, Europe, Lebanon

☆ Russian drones strike civilian targets in Kharkiv; U.S. imposes new sanctions on Moscow
▼ + stars: | 2023-11-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Russian drone strikes hit civilian targets in and around Ukraine's second-largest city, Kharkiv, in the early hours of Friday morning, according to Ukrainian officials. He also shared video and images of a fire blazing in Kharkiv city and said eight residents received medical attention on the spot, but nobody was injured. The U.S. government on Thursday imposed sweeping new sanctions against Moscow over its invasion of Ukraine, with almost 100 new measures targeting energy production, mining and defense. It also included new measures to clamp down on sanctions evasion in the United Arab Emirates, Turkey and China. Russia's Wagner Group has reportedly begun recruiting fighters again several months after the death of founder Yevgeny Prigozhin, according to Russian media reports.

Persons: Oleh Synehubov, Janet Yellen, Russia's Wagner, Yevgeny Prigozhin, Volodymyr Zelenskyy Organizations: Moscow, United Arab Locations: Ukraine's, Kharkiv, U.S, Ukraine, United Arab Emirates, Turkey, China, Russia

☆ Why we see a bright future for Constellation Brands and Starbucks following investor events
▼ + stars: | 2023-11-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Investor events this week from Club holdings Constellation Brands (STZ) and Starbucks (SBUX) left shareholders like us bullish on the path forward for both beverage makers. Beer producer Constellation Brands provided a business update on Thursday during an event for investors at which management outlined its strategic priorities to foster ongoing growth. The company called its beer business, which includes bestselling brands like Modelo Especial, Corona and Pacifico, "the main driver of our strong growth." To address this unrelenting demand, Starbucks plans on building new stores with updated layouts, while "unlocking capacity" at existing stores. In addition to investing in its stores, Starbucks is also taking steps to improve the overall experience for its employees.

Persons: Kim Crawford, Elliot Management, Laxman Narasimhan, Jim Cramer, Narasimhan, Jim Cramer's, Jim Organizations: Constellation Brands, Starbucks, Modelo Especial, Management, Constellation, CNBC, Getty Locations: U.S, Corona, Pacifico, Woodbridge, SVEDKA, China, North America, Canada

Still life of Wegovy an injectable prescription weight loss medicine that has helped people with obesity. It should be used with a weight loss plan and physical activity. Novo Nordisk on Thursday reported record profits and sales for the third quarter, but said supplies of its hugely popular weight loss drug Wegovy would continue to be restricted. The Danish pharmaceutical giant posted third-quarter sales of 58.73 billion Danish krone ($8.34 billion), a 29% increase from the same period last year, driven by demand for its flagship Ozempic and Wegovy drugs in the U.S. The company has struggled to keep up with demand for Wegovy, an appetite-suppressing anti-obesity drug, forcing it to limit the number of patients able to begin treatment.

Persons: Wegovy, Elliot Smith Organizations: Novo Nordisk, U.S Locations: Danish

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