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☆ Gold steadies as investors brace for key cenbank verdicts
▼ + stars: | 2023-09-18 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

Spot gold was flat at $1,923.40 per ounce by 09:59 a.m. EDT (1359 GMT). Non-yielding gold tends to fall out of favour among investors when interest rates rise. [USD/Chinese gold prices hit record highs last week, extending a months-long rally as consumers snap up the safe-haven asset to offset a depreciating yuan. "While the developments in China are worth watching, we currently do not believe that this will change the outlook for the gold market," said Julius Baer analyst Carsten Menke. Reporting by Brijesh Patel and Anjana Anil in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Edward Moya, CME's, Kazuo Ueda, Julius Baer, Carsten Menke, Brijesh Patel, Anjana Anil, Krishna Chandra Organizations: Wednesday, U.S . Federal Reserve, The Bank of, U.S, Treasury, Thomson Locations: requisitions, The Bank of England, China, Bengaluru

☆ Want to Write a Best-Selling Cookbook? Get on TikTok.
▼ + stars: | 2023-09-18 | by ( Priya Krishna | More About Priya Krishna | ) www.nytimes.com time to read: 1 min

Three years ago, B. Dylan Hollis was an unemployed musician in Wyoming who had never baked anything outside a home-economics class, much less written a recipe. Last month, his debut cookbook, “Baking Yesteryear,” became the best-selling book in the country. Not just the best-selling cookbook — the No. Mr. Hollis has no political career or royal-family drama propelling his book. What he does have is 10.2 million followers on TikTok, where he has been posting cooking videos since 2020.

Persons: Dylan Hollis, ”, Prince Harry, Mr, Hollis Organizations: Penguin Locations: Wyoming, TikTok

☆ Birkenstock reveals 21% revenue jump in updated financials ahead of IPO
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsSept 15 (Reuters) - German premium footwear maker Birkenstock Holding's revenue jumped 21% in the nine months ended June 30, it said in updated paperwork for a U.S. stock market listing on Friday. The company, backed by private equity firm L Catterton, is one of a handful of high-profile firms gearing up for a stock market debut. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 16% to 387 million euros in the same period. Goldman Sachs, J.P. Morgan and Morgan Stanley are among the underwriters for the IPO.

Persons: Fabrizio Bensch, Birkenstock, Barbie, Margot Robbie, Goldman Sachs, J.P, Morgan, Morgan Stanley, Niket, Krishna Chandra Organizations: REUTERS, SoftBank, Arm Holdings, underwriters, Thomson Locations: Berlin, Germany, U.S, Bengaluru

☆ Instacart raises IPO price range after robust Arm debut
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

The price hike signals robust investor demand for San Francisco-based Instacart, which is looking to finally list its shares this month after years of waiting in the wings. Investors will be pinning hopes on robust debuts from Instacart, Klaviyo and Neumora to carry the momentum in the IPO market after Arm's strong showing on Thursday. Instacart said it is now seeking to sell 22 million shares at $28 to $30 each. At the top end of the range, the IPO will fetch $660 million compared with the earlier target of $616 million. The company's raised valuation target, however, would still be just one-fourth of the $39 billion it was worth after its last funding round more than two years ago.

Persons: Dado Ruvic, Group's, Instacart, Goldman Sachs, J.P, Morgan, Niket, Krishna Chandra Organizations: REUTERS, Arm Holdings, San, Neumora Therapeutics, Instacart, Cornerstone, PepsiCo, Instacart's, Thomson Locations: San Francisco, Bengaluru

☆ Bank of England to raise Bank Rate to 5.50% in September, significant minority expect further hike: Reuters poll
▼ + stars: | 2023-09-14 | by ( Shaloo Shrivastava | ) www.reuters.com time to read: +4 min

Nearly all 65 economists in the Sept. 11-13 Reuters poll expected the BoE to hike its Bank Rate by 25 basis points to 5.50% this month, in line with interest rate futures pricing. Survey medians showed the Bank Rate was expected to peak at 5.50%, matching rate futures pricing, and stay there until mid-2024. While 28 economists expected the Bank Rate to peak at 5.75%, two said 6.00%. Nine of 16 gilt-edged Market Makers (GEMMs) that participated in the poll predicted a 5.50% peak rate and seven said 5.75%. A separate Reuters poll showed average house prices in Britain were predicted to fall 4% this year and flatline in 2024 before rising in 2025.

Persons: BoE, Maja Smiejkowska, Ellie Henderson, BoE Governor Andrew Bailey, Catherine Mann, Shaloo Shrivastava, Anitta Sunil, Purujit Arun, Maneesh Kumar, Pranoy, Ross Finley, Hari Kishan, Mark Potter Organizations: Bank of England, REUTERS, Rights, Reuters, HSBC, MPC, Royal Institution, Chartered Surveyors, Thomson Locations: London, Britain, Investec

☆ Canada's Laurentian Bank says completed review of strategic options
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

The logo of Laurentian Bank is seen at its head offices in Montreal, April 1, 2015. REUTERS/Christinne Muschi Acquire Licensing RightsSept 14 (Reuters) - Canada's Laurentian Bank (LB.TO) said on Thursday it has completed a previously disclosed review of strategic options, with the lender now focusing on simplifying its organizational structure. "The Board, with the support of the Executive Management Team, has unanimously concluded that the best path forward is... accelerated evolution of its current strategic plan with an increased focus on efficiency and simplification," Laurentian said. However, later that month, a media report citing sources said Montreal-based Laurentian was struggling to find an acquirer and that Canada's top banks - Bank of Nova Scotia (BNS.TO) and Toronto-Dominion Bank (TD.TO) - had backed out of a potential acquisition. Laurentian said it considered a variety of options through the review process, including an acquisition of the whole bank and divesting certain businesses.

Persons: Christinne, Manya Saini, Krishna Chandra Organizations: Laurentian Bank, REUTERS, Executive Management Team, Laurentian, Bank of Nova, Dominion Bank, Thomson Locations: Montreal, Bank of Nova Scotia, Toronto, Bengaluru

☆ Casino giant Caesars confirms data breach
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

Sept 14 (Reuters) - Caesars Entertainment (CZR.O) on Thursday confirmed a data breach that led to a leak of information, including details from its loyalty program database. The company said hackers accessed details, including driver's license numbers and possibly social security numbers, for a "significant number of members in the database". Caesars added it is still investigating the extent of the data leak "acquired by the unauthorized actor" and has no evidence to date that any member passwords/PINs, bank account information or payment card information were accessed. Another casino operator MGM International (MGM.N) was also allegedly hacked by a group called Scattered Spider, Bloomberg News had reported. Analysts at Moody's have warned MGM Resorts may see a negative impact to its credit rating after the recent data breach.

Persons: Priyamvada, Krishna Chandra Organizations: Caesars Entertainment, Caesars, Wall Street, MGM, Bloomberg News, Reuters, Moody's, MGM Resorts, Thomson Locations: Bengaluru

WASHINGTON, Sept 13 (Reuters) - Tesla (TSLA.O) CEO Elon Musk called on Wednesday for a U.S. "referee" for artificial intelligence after he, Meta Platforms (META.O) CEO Mark Zuckerberg, Alphabet (GOOGL.O) CEO Sundar Pichai and other tech CEOs met with lawmakers at Capitol Hill to discuss AI regulation. Musk said there was need for a regulator to ensure the safe use of AI. "It's important for us to have a referee," Musk told reporters, comparing it to sports. Musk confirmed he had called AI "a double-edged sword" during the forum. Other attendees included Nvidia (NVDA.O) CEO Jensen Huang, Microsoft (MSFT.O) CEO Satya Nadella, IBM (IBM.N) CEO Arvind Krishna, former Microsoft CEO Bill Gates and AFL-CIO labor federation President Liz Shuler.

Persons: Elon Musk, Mark Zuckerberg, Sundar Pichai, Musk, Zuckerberg, Chuck Schumer, Todd Young, Leah Millis, Mike Rounds, Rounds, Jensen Huang, Satya Nadella, Arvind Krishna, Bill Gates, Liz Shuler, Schumer, Joe Biden's, David Shepardson, Moira Warburton, Mike Stone, Jonathan Oatis, Rosalba O'Brien, David Gregorio Our Organizations: Capitol, Lawmakers, Democratic, Republican, Intelligence, Senate, U.S, REUTERS, Nvidia, Microsoft, IBM, AFL, Regulators, Adobe, Google, Thomson Locations: Washington , U.S

☆ Fed to leave rates unchanged on Sept. 20; cut unlikely before Q2 2024: Reuters poll
▼ + stars: | 2023-09-13 | by ( Prerana Bhat | ) www.reuters.com time to read: +5 min

"While there has been meaningful progress to date on inflation ... the Fed will not be able to take this for granted." Around 70% of those respondents, 62 of 87, had at least one rate cut by the end of next June. Still, all but five of 28 respondents to an extra question said the bigger risk was that the first Fed cut would come later than they currently forecast. A serious economic downturn could justify an earlier rate cut, but that is looking less likely. The economy was expected to expand by 2.0% this year and 0.9% in 2024, according to the poll.

Persons: Sarah Silbiger, Jerome Powell, Jackson, Brett Ryan, Andrew Hollenhorst, Citi's Hollenhorst, Prerana Bhat, Pranoy Krishna, Rahul Trivedi, Shaloo, Ross Finley, Paul Simao Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Rights, Federal Reserve, Market, Fed, Reuters, Deutsche Bank, Consumer, Index, Citi, Thomson Locations: Washington ,, U.S

☆ Musk, Zuckerberg, Gates to join US senators for AI forum
▼ + stars: | 2023-09-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Microsoft President Brad Smith, Nvidia's chief scientist William Dally, and Professor Woodrow Hartzog wait to testify before a Senate Judiciary Privacy, Technology, and the Law Subcommittee hearing on "Oversight of A.I. : Legislating on Artificial Intelligence" on Capitol Hill in Washington, U.S., September 12, 2023. Other expected attendees include feature OpenAI CEO Sam Altman, Nvidia (NVDA.O) CEO Jensen Huang, Microsoft (MSFT.O) CEO Satya Nadella, IBM (IBM.N) CEO Arvind Krishna, former Microsoft CEO Bill Gates, AFL-CIO President Liz Shuler and Senators Mike Rounds, Martin Heinrich, and Todd Young. Microsoft President Brad Smith told a Senate Judiciary subcommittee on Tuesday Congress should "require safety brakes for AI that controls or manages critical infrastructure." Smith compared AI safeguards to requiring circuit breakers in buildings, school buses having emergency brakes and airplanes having collision avoidance systems.

Persons: Brad Smith, William Dally, Woodrow Hartzog, Leah Millis, Elon Musk, Mark Zuckerberg, Sundar Pichai, Chuck Schumer, ChatGPT, Sam Altman, Jensen Huang, Satya Nadella, Arvind Krishna, Bill Gates, Liz Shuler, Mike Rounds, Martin Heinrich, Todd Young, Schumer, Smith, Joe Biden's, David Shepardson, Lincoln Organizations: Privacy, Technology, REUTERS, Capitol Hill, Nvidia, Microsoft, IBM, AFL, Regulators, Google, Thomson Locations: Washington , U.S, WASHINGTON, Senate's

☆ US Declares Public Health Emergency in Georgia After Hurricane Idalia
▼ + stars: | 2023-09-13 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The U.S. Department of Health and Human Services (HHS) on Wednesday declared a public health emergency (PHE) for the state of Georgia to deal with the ramifications of Hurricane Idalia. The hurricane hit Florida's Gulf Coast in late August with fierce winds, torrential rains and pounding surf before turning to southeastern Georgia, where floodwater trapped some residents in their homes. With the PHE declaration, healthcare providers and suppliers will have greater flexibility in meeting emergency needs of people covered by the Medicare and Medicaid health plans, the HHS said. "We are working closely with state and local health authorities, as well as our partners across the federal government, and stand ready to provide additional public health and medical support," said health secretary Xavier Becerra. The declaration waives certain requirements such as physicians or other healthcare professionals needing to hold licenses in the state in which they provide services.

Persons: floodwater, Xavier Becerra, Christy Santhosh, Rahul Paswan, Krishna Chandra Eluri Organizations: Reuters, U.S . Department of Health, Human Services, Wednesday, HHS Locations: Georgia, Coast, Bengaluru

☆ Elon Musk, Mark Zuckerberg, Bill Gates and other tech leaders in closed Senate session about AI
▼ + stars: | 2023-09-13 | by ( Lauren Feiner | ) www.cnbc.com time to read: +8 min

Senate Majority Leader Chuck Schumer, D-N.Y., hosted the panel of tech executives, labor and civil rights leaders as part of the Senate's inaugural "AI Insight Forum." Google CEO Sundar Pichai, arrives for a US Senate bipartisan Artificial Intelligence (AI) Insight Forum at the US Capitol in Washington, DC, on September 13, 2023. Working toward legislationSchumer said in his prepared remarks that the event marked the beginning of "an enormous and complex and vital undertaking: building a foundation for bipartisan AI policy that Congress can pass." Successful legislation will need to be bipartisan, Schumer added, saying he'd spoken with House Speaker Kevin McCarthy, R-Calif., who was "encouraging." Sen. Maria Cantwell, D-Wash., who leads the Commerce Committee, predicted lawmakers could get AI legislation "done in the next year."

Persons: Elon Musk, Alex Karp, Chuck Schumer, Leah Millis, CNBC's Eamon Javers, Sens, Mike Rounds, Martin Heinrich, Todd Young, Schumer, Sam Altman, Eric Schmidt, Mark Zuckerberg, Sundar Pichai, Jensen Huang, Satya Nadella, Arvind Krishna, Bill Gates, Charles Rivkin, Liz Shuler, Meredith Steihm, Randi Weingarten, Maya Wiley, CIO's Shuler, Musk, Shuler, Sen, Pichai, Mandel Ngan, Meta's Zuckerberg, Meta, Julia Nikhinson, Reuters Schumer, Kevin McCarthy, he'd, Young, Maria Cantwell, Altman, We're, Elon Organizations: Intelligence, Senate, U.S, Capitol, Reuters Tech, Microsoft Nvidia, IBM, Microsoft, Former, Tesla, Meta, Nvidia, Federation of Teachers, Civil, Human Rights, AFL, Artificial Intelligence, AFP, Getty, EU, Reuters, Chinese Communist Party, Commerce, Science, CNBC, YouTube Locations: Washington , U.S, U.S, Washington ,, Washington, deepfakes

☆ Chuck Schumer hosts tech companies Google, Meta, Microsoft, and X over AI regulations including Chat GPT
▼ + stars: | 2023-09-13 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Among those attending the in-person event will be the CEOs of Anthropic, Google, IBM, Meta, Microsoft, Nvidia, OpenAI, Palantir and X, the company formerly known as Twitter. But crucially, the event could also shed light on the political feasibility of a broad, sweeping AI law, setting expectations for what Congress may achieve. IBM CEO Arvind Krishna will also seek to “demystify” a widely held impression that AI development is done only by a handful of companies like OpenAI or Google, Padilla said. Some authors have sued OpenAI over those claims, while others have asked in an open letter to be paid by AI companies. New AI legislation could also serve as a potential backstop to voluntary commitments that some AI companies made to the Biden administration earlier this year to ensure their AI models undergo outside testing before they are released to the public.

Persons: Bill Gates, Eric Schmidt, Chuck Schumer, he’s, Mark Zuckerberg, Elon Musk, ”, Christopher Padilla, Padilla, Arvind Krishna, Sam Altman, Clement Delangue, OpenAI, Maya Wiley, they’ve, Wiley, “, ” Wiley, Schumer, South Dakota Republican Sen, Mike Rounds, New Mexico Democratic Sen, Martin Heinrich, Indiana Republican Sen, Todd Young —, “ It’s, Biden Organizations: Washington CNN, Anthropic, Google, IBM, Meta, Microsoft, Nvidia, Twitter, Senate, CNN, The New York Times, Disney, Conference, Civil, Human, South Dakota Republican, New, New Mexico Democratic, Indiana Republican, Capitol, European Union Locations: Washington, New Mexico

☆ Elon Musk, Mark Zuckerberg, Bill Gates and other tech names head to Washington for a closed-door meeting on policing AI
▼ + stars: | 2023-09-13 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Some of the world's biggest tech leaders gathered in Washington, DC for a closed-door forum on AI. Elon Musk, Mark Zuckerberg, Bill Gates, and other tech leaders all were scheduled to attend. The closed-door forum on Capitol Hill included almost two dozen tech executives, tech advocates, civil rights groups and labor leaders. Tech leaders outlined their views, with each participant getting three minutes to speak on a topic of their choosing. AdvertisementAdvertisementStill, some senators were critical of the private meeting, arguing that tech executives should testify in public.

Persons: Elon Musk, Mark Zuckerberg, Bill Gates, Musk, Chuck Schumer, Meta's Mark Zuckerberg, Tesla, OpenAI's Sam Altman, Schumer, Sen, Mike Rounds, Eric Schmidt, Zuckerberg, Arvind Krishna, Josh Hawley, Hawley, Richard Blumenthal, Conn Organizations: Service, Capitol, Microsoft, Tech, IBM Locations: Washington ,, Wall, Silicon

☆ Fed to leave rates unchanged on Sept. 20; cut unlikely before Q2 2024
▼ + stars: | 2023-09-12 | by ( Prerana Bhat | ) www.reuters.com time to read: +5 min

"While there has been meaningful progress to date on inflation ... the Fed will not be able to take this for granted." Only one said the Fed would cut rates this year. Around 70% of those respondents, 62 of 87, had at least one rate cut by the end of next June. Still, all but five of 28 respondents to an extra question said the bigger risk was that the first Fed cut would come later than they currently forecast. A serious economic downturn could justify an earlier rate cut, but that is looking less likely.

Looney's surprise resignation came after allegations of personal relationships with company colleagues surfaced recently, prompting the company to launch an investigation. That followed allegations the board investigated in May 2022 relating to personal relationships with company employees. During that review, Looney disclosed "a small number of historical relationships with colleagues prior to becoming CEO." Looney informed BP's board on Tuesday that he did not fully disclose details of all relationships, prompting his resignation. BP shares ended up 1% before the FT earlier reported his resignation after trading closed in London.

Persons: Bernard Looney, Amr Abdallah Dalsh, Murray Auchincloss, Looney, Looney's, BP's, Bob Dudley, Anirudh, Krishna Chandra Eluri, Marguerita Choy Organizations: BP, Egypt's, Petroleum, REUTERS, BP Auchincloss, Shell, Chevron, Exxon Mobil, Morningstar, Reuters, Thomson Locations: Cairo, Egypt, London, New York, COVID, Russia, Ukraine, Bengaluru, Shadia

☆ Oracle tumbles as strong cloud competition, Cerner weakness dent forecast
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

3D printed clouds and figurines are seen in front of the Oracle cloud service logo in this illustration taken February 8, 2022. The company was on track to lose about $30 billion in market value, based on its premarket share price of $115. "We continue to believe high single-digit growth might be unsustainable for Oracle given Cerner integration risks and formidable data center competition," D.A. Most analysts, however, were positive on the company and attributed the share price decline to Oracle's rally in the run-up to earnings. But they highlighted strong deferred revenue, AI backlog commentary and some positive signs in the cloud business as positives.

Persons: Dado Ruvic, Safra Catz, D.A, Davidson, Gil Luria, Aditya Soni, Krishna Chandra Organizations: Oracle, REUTERS, Amazon Web Services, Google, Barclays, Thomson Locations: Bengaluru

Morgan Stanley analyst Erik W Woodring said Apple's share losses were "overdone" as he does not believe the curbs will lead to something broader. He added the worst case scenario was a 4% revenue hit and a 3% earning impact for the company. Analysts said U.S. sanctions on Huawei, in place since May 2019, hit the company's supply chain, helping Apple increase iPhone shipments to China and grab market share. J.P.Morgan said China's restrictions will make it tougher for Apple to continue to gain market share in China. BofA estimated a $0.11 to $0.34 earnings per share hit to Apple if Huawei was able to gain market share from the iPhone maker.

Persons: Thomas Peter, Morgan Stanley, Erik W Woodring, Woodring, HWT.UL, J.P.Morgan, Aniruddha Ghosh, Krishna Chandra Organizations: Apple, REUTERS, Wall Street, Beijing, BofA Global Research, Huawei Technologies, Huawei, Thomson Locations: Beijing, China, Bengaluru

☆ India's policy contradictions are making it harder for investors to crack its market
▼ + stars: | 2023-09-08 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

At a time when shifting geopolitical alliances are elevating India's strategic importance, such curbs add to the contradictions global investors have to negotiate as they hunt for viable alternatives to a slowing China. They said the move will add to end-product costs for foreign vendors and shift consumer spending toward Indian firms or established foreign vendors with a manufacturing base in India. To attract foreign investors, Modi's government doubled to 170 billion rupees ($2.04 billion) its initial budget in May for a production-linked incentive scheme for IT hardware that was approved in 2021. watch now"India's large and growing domestic market, limited political instability and long-term policy continuity bolsters India's appeal to investors," Dasgupta said. Attracted by such lofty projections, global investors have also poured into Indian equity markets this year.

Persons: Javier Ghersi, Narendra Modi's, There's, Pravin Krishna Johns, it's, Pravin Krishna, Krishna, Rajeev Chandrasekhar, Taiwan's Foxconn, iPhones, Sumedha Dasgupta, Dasgupta, Modi, Goldman Sachs, — Organizations: Apple, Samsung, Dell, Pravin Krishna Johns Hopkins University's School, Johns Hopkins University's School, International, BMI Industry Research, South, BMI, Sumedha Dasgupta Economist Intelligence, Economist Intelligence Unit, CNBC, Bharatiya Janata Party, U.S, The, Monetary Fund, Capital Locations: India, China, Russia, Ukraine, Vietnam

☆ A writer says he was laid off after a media company began using AI to translate articles: 'An AI took my job, literally'
▼ + stars: | 2023-09-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

A writer and translator says he was laid off after his company, Gizmodo en Español, began using AI. The site, Gizmodo en Español, now appears to be using AI to translate articles from English to Spanish. On Tuesday they shut down @GizmodoES to turn it into a translation self-publisher (an AI took my job, literally)." They shared the memo sent to staff by Gizmodo's editorial director, which said, "Wednesday morning, G/O began publishing Gizmodo stories translated into Spanish using an automated system." This is not the first time workers have complained of being traded in for new AI tech.

Persons: Matías, Zavia, Arvind Krishna Organizations: O Media, Service, GMG Union, The Writers Guild of America, Gizmodo, Media, Companies, IBM Locations: Wall, Silicon, Spanish, East

☆ Hearst Television pulls local channels for Dish customers
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Sept 8 (Reuters) - Dish Network (DISH.O) said on Friday U.S.-based Hearst Television removed customer access to 37 local channels in 27 markets after the companies failed to agree on distribution rates despite months of talks. "Hearst is demanding tens of millions of dollars in rate increases that would affect customers," Dish said, adding that Hearst expects Dish and its customers to foot the bill. In a message to Dish subscribers, Hearst Television said, "We have made significant investments to deliver top-tier programming to our viewers and Dish is seeking the right to carry our stations at below market rates, which is neither fair nor reasonable." Dish said the move affects viewers of ABC and NBC, among other channels. Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri, Shilpi Majumdar and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Hearst, Gary Schanman, Akash Sriram, Krishna Chandra Eluri, Shilpi Majumdar, Devika Organizations: Dish, U.S, Hearst Television, Disney, Charter Communications, Hearst, ABC, NBC, Thomson Locations: Bengaluru

☆ Dollar to stay bright this year before fading in 2024, analysts say: Reuters poll
▼ + stars: | 2023-09-07 | by ( Sarupya Ganguly | ) www.reuters.com time to read: +3 min

Backed by a strong economy and rising U.S. Treasury yields, some of the highest among developed economies, the dollar despite bouts of weakness has stayed resilient against most major currencies. That strong performance has brought the long-held view of a weaker dollar in the short to medium term under review. A solid 81% majority of analysts, 43 of 53, who answered an additional question said the risk to their dollar outlook was to the upside, the Sept. 1-6 Reuters poll showed. Elsewhere, other Asian currencies stand to face significant friction in recouping losses for the year, according to the poll. Almost all were forecast to at best stay within a range or trade modestly higher against the dollar in coming months.

Persons: Jane Foley, Lee Hardman, pare, Sterling, Sarupya Ganguly, Sujith Pai, Devayani, Pranoy, Hari Kishan, Andrea Ricci Organizations: Treasury, . Federal, Rabobank, Argentine, Thomson Locations: BENGALURU, China, America, Brazilian

☆ Canadian dollar outlook seen less rosy as China's economy weakens
▼ + stars: | 2023-09-07 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

File photo: A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/file photo Acquire Licensing RightsTORONTO, Sept 7 (Reuters) - Analysts have cut their bullish near-term forecasts for the Canadian dollar as China's economy weakens and the gap between U.S. and Canadian bond yields grows, but still expect the currency to be stronger in a year, a Reuters poll showed. "The loonie has lost a few feathers in recent weeks," said Stefane Marion, chief economist and strategist at National Bank of Canada. "Widening interest rate differentials with the U.S. and weaker commodity prices due to a slowing Chinese economy are keeping the CAD in check." Canada is a major producer of commodities, so the loonie tends to be sensitive to the global growth outlook.

Persons: Mark Blinch, Stefane Marion, Marion, Fergal Smith, Sujith Pai, Devayani, Pranoy, Jan Harvey Organizations: REUTERS, Rights, National Bank of Canada, U.S, Bank of Canada, Thomson Locations: Toronto, Canada, U.S

☆ C3.ai falls after AI-play drops profit target
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

The $3.71 billion stock, among the small-cap AI firms that have benefited from excitement around Generative AI sparked by the success of ChatGPT, has surged about 180% so far this year. However, the Redwood City, California-based company scrapped its target to achieve quarterly profit by April 30, 2024 as it looks to invest in its Generative AI solutions. "After careful consideration... we have made the decision to invest in lead generation, branding, market awareness and customer success related to our Generative AI solutions," said CEO Thomas Siebel. Shares are down 21% since early June when the company's disappointing quarterly revenue forecast dented some of the recent euphoria around artificial intelligence-linked stocks. Reporting by Medha Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Siebel, Pinjalim Bora, Bora, Medha Singh, Krishna Chandra Organizations: Thomson Locations: Redwood City , California, Bengaluru

☆ Warner Bros Discovery plans to offer live sports for free on Max - Bloomberg News
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

The exterior of the Warner Bros. Discovery Atlanta campus is pictured in Atlanta, Georgia, U.S. May 2, 2023. REUTERS/Alyssa Pointer/File Photo Acquire Licensing RightsSept 6 (Reuters) - Warner Bros Discovery (WBD.O) plans to offer live sports at no additional price on its Max streaming service for a short period later this year, Bloomberg News reported on Wednesday. The company owns media rights to National Basketball Association and Major League Baseball, among other sporting events. Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Alyssa Pointer, Akash Sriram, Krishna Chandra Eluri, Shilpi Majumdar Organizations: Warner Bros . Discovery, REUTERS, Warner Bros Discovery, Bloomberg, Reuters, National Basketball Association, Major League Baseball, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru

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