DIRS.INFO The most relevant business & tech news

☆ Gold scales 1-month peak as dollar, yields drop on rate-hike pause hopes
▼ + stars: | 2023-07-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices hovered near 1-month highs on Thursday as the dollar and Treasury yields fell on expectations the U.S. Federal Reserve could end its rate-hike cycle soon. Spot gold was up 0.1% at $1,958.16 per ounce by 11:50 a.m. EDT (1550 GMT), after hitting its highest since June 16. U.S. gold futures rose 0.2% to $1,964.60. "After yesterday's data, we saw a strong rally in the gold market. This comes a day after data showed that U.S. consumer prices rose modestly in June, registering their smallest annual increase in more than two years.

Persons: Phillip Streible, Commerzbank Organizations: Aurum, Treasury, . Federal, Blue, Federal, Market Locations: Chicago

Phillip alleged Barclays owed her a duty to ignore her instructions if the bank had reasonable grounds to suspect she was being defrauded. "Where the customer has authorised and instructed the bank to make a payment, the bank must carry out the instruction promptly," he said. "It is not for the bank to concern itself with the wisdom or risks of its customer's payment decisions." James Levy, a partner at law firm Ashurst, said the onus was on customers to ensure payment instructions were bona fide. The Supreme Court, however, allowed Philipp to pursue an alternative case against Barclays on the grounds that the bank breached its duty by failing to take adequate steps to recover the money transferred to the UAE.

Persons: Fiona Philipp, Phillip, George Leggatt, James Levy, Ashurst, Philipp, Sam Tobin, Kirstin Ridley, Louise Heavens, Barbara Lewis, Jane Merriman Organizations: Barclays, Wednesday, Court, United Arab Emirates, Payment Systems, Financial Services, UAE, Thomson Locations: fraudsters, UAE

☆ Global heat in ‘uncharted territory’ as scientists warn 2023 could be the hottest year on record
▼ + stars: | 2023-07-08 | by ( Laura Paddison | ) edition.cnn.com time to read: +8 min

It works like this: As the world burns fossil fuels and pumps out planet-heating pollution, global temperatures are steadily warming. David J. Phillip/APWhile the record temperatures may have been expected, the magnitude by which some have been broken has surprised some scientists. Historically, global heat records tend to topple in El Niño years, and the current record-holder, 2016, coincided with a strong El Niño. The world gets hung up on blockbuster records but “these heat records are not exciting numbers,” she told CNN. CFOTO/Future Publishing/Getty ImagesUnheeded warningsFor climate scientists, this is the “I told you so” moment they never wanted.

Persons: –, Jennifer Francis, ” Carlo Buontempo, Copernicus, “, we’ve, ” Francis, El, ”, Friederike Otto, Andres Matamoros, David J, Phillip, Peter Stott, There’s, Robert Rohde, ” Otto, Prashanth Vishwanathan, Niño, El Niños, ” Stott, Otto said, “ Organizations: CNN, Climate Research, World Meteorological Organization, Grantham Institute, Climate, UK’s Met, ”, Bloomberg, Getty, Publishing Locations: Europe, Antarctica, Pacific, El, Houston, Berkeley, Patna, Bihar, India, Texas, Mexico, China, Beijing, Northern, Zhonghua, Handan, North China's Hebei

☆ Big Tobacco posts warning signs at 220,000 US stores, wrapping up ongoing lawsuit since 1999
▼ + stars: | 2023-07-01 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

The signs will be installed in stores between July 1 and September 30, and must be displayed until June 30, 2025. An example of a corrective sign shows a large asterisk icon with the statement, “Smoking kills, on average, 1,200 Americans. The content of the corrective statements was finalized in 2017 and then began to run in different media forms. R.J. Reynolds said these corrective statement signs appear on its website and had previously appeared in newspapers, television, radio and on pack inserts. “The tobacco industry has evolved considerably since this lawsuit was filed nearly 25 years ago, back in 1999,” a spokesperson said.

Persons: Phillip Morris, RJ Reynolds, ”, Gladys Kessler’s, “, ” Kessler, Altria, R.J, Reynolds, vaping Organizations: New, New York CNN, Big Tobacco, ITG Brands, U.S . Department of Justice, “, Reynolds American Inc Locations: New York, America, Spanish

Spot gold was up 0.8% to $1,927.90 per ounce by 10:25 a.m. EDT (1425 GMT), after dropping to a more than three-month low earlier in the session. Benchmark 10-year Treasury yields slipped to a 10-day low, reducing the opportunity cost of owning non-yielding gold. Spot silver rose 0.9% to $22.44 per ounce, but was set for its biggest weekly drop since October 2022. Platinum was down 0.3% to $920.38, on course for its worst week since August 2022. Palladium could extend this year's near 30% price decline as the rapid rise of electric vehicles threatens to hammer demand for the autocatalyst metal.

Persons: Edward Moya, Jerome Powell, Phillip Streible, Mary Daly, Barbara Lewis Organizations: Treasury, Federal Reserve, Blue, San Francisco Fed, Reuters, Palladium, Thomson Locations: U.S, Chicago, Bengaluru

☆ A 20-year fund manager shares 8 mega-trend stocks he's betting will take market share — and the 5 he's shorting
▼ + stars: | 2023-06-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

Gary Black says the stock market will continue to trend higher with volatility this year. What the remainder of 2023 has in store for the stock market is anyone's guess at this point. But Gary Black, a 20-year fund manager, and the portfolio manager and managing partner at The Future Fund, has a more positive outlook. The next mega trend is big data and cyber security. mega trend losersOn the side of stocks being shorted, these are the companies that Black expects will lose market share due to these mega trends.

Persons: Gary Black, Phillip Wool, it's, Black, He's, cybertruck, Tesla, Elon Musk, Eli Lilly, Lilly, LULU, Armour Organizations: Federal, Federal Reserve, EV, Tesla, Company, Palo Alto Networks, Nvidia, Toyota, CNBC, Bloomberg, UA, MAX Holdings Locations: China's, overproducing

☆ The Ashes 2023: ‘Bazball’ down but not out after thrilling Test match
▼ + stars: | 2023-06-21 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +7 min

CNN —Australia managed to steal victory from England’s in the first game of the 2023 Ashes series on Tuesday and take the first bragging rights in cricket’s biggest rivalry. Ryan Pierse/Getty ImagesCaptain fantasticUp against ‘Bazball’ stood Australia and a more traditional style of Test match cricket. “This is why the ‘Bazball’ mentality is so important because they are coming up against an incredibly good team,” Miller said after England’s loss. “These guys ripped England apart in the last Ashes 4-0 and England were lucky to lose 4-0. The second game of the five game series will begin on Wednesday, June 28 at the famous cricket ground Lord’s in London.

Persons: Pat Cummins, –, Ben Stokes, Brendon ‘ Baz ’ McCullum, ’, Stokes, Joe Root’s, Joe Root, Stu Forster, Andrew Miller, CNN Sport’s Don Riddell, McCullum’s, “ It’s, Baz McCullum, ” Miller, Phillip Hughes, let’s, ‘ We’ve, “ We’re, haven’t, ” Ben Stokes, Ryan Pierse, ‘ Bazball ’, Cummins, “, Nathan Lyon, Lyon, Australia's Nathan Lyon, Geoff Caddick, Miller, McCullum, Mike Egerton, we’re, “ We’ve Organizations: CNN — Australia, Edgbaston Cricket, England, Getty, CNN, McCullum’s New Zealand, New, India, Australia Locations: England’s, Birmingham, Australia, England, New Zealand, Australian, AFP, London

☆ The Outsize Genius of ‘I’m a Virgo’
▼ + stars: | 2023-06-19 | by ( Phillip Maciak | ) www.nytimes.com time to read: +2 min

One of Cootie’s first rebellions is his insistence on trying a Bing Bang Burger, whose comically unappealing commercials he sees constantly on TV. It is fastidiously, hilariously committed to the bit, constantly doubling down on the logistics of Cootie’s bigness. “I’m a Virgo” comes on the heels of a few ingenious experiments in TV surrealism, from “Atlanta” to “Undone” to the recent farce “Mrs. Its fantastical concept works in metaphor just the same way it works in fact, as it reminds us with proud bluntness. “I’m a Virgo” is a visual and ideological counterpoint to all this.

Persons: Burger, Cootie, Jharrel Jerome, hilariously, “, Davis, Riley, Felix, ”, ” Felix Organizations: “ Atlanta, Marvel Locations: “, .

☆ 'Fundamentals still matter': A portfolio manager at a firm managing $17 billion warns stocks are due to sink 15% as AI hype fuels the current rally and drowns out recession alarm bells
▼ + stars: | 2023-06-17 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Stocks are once again in a bull market, with the S&P 500 now up more than 20% since October's lows. Nearly all of the recent rally can also be attributed to the index's top 10 stocks, he said. "During the late-90s tech bubble, over one-third of returns came from these mega-cap stocks," Wool said. "In the recent bull run, by contrast, almost the entire market return was accounted for by just ten companies' performance." A 15% decline would put the S&P 500 at 3,800.

Persons: Stocks, Rayliant's Phillip Wool, Wool, Phillip Wool, Solita, Louis, …, Lauren Goodwin, Morgan Stanley's Mike Wilson, it's, Morgan Stanley's Wilson, Piper Sandler's Michael Kantrowitz Organizations: UBS, LPL Financial, Conference, Federal Reserve Bank of St, Louis The Conference, Wool, Treasury, Federal Reserve, New York Life Investments, CME Group

☆ Oil rebounds on strong China refinery data but economic outlook caps gains
▼ + stars: | 2023-06-15 | by ( ) www.cnbc.com time to read: +2 min

Oil rebounded on Thursday after the previous day's plunge, as data showed a jump in refinery runs at the world's top crude importer China, though a weak economic backdrop capped gains. China's oil refinery throughput in May rose 15.4% from a year earlier, data showed on Thursday, hitting its second highest total on record. But a weak economic outlook capped price gains on Thursday, as China's industrial output and retail sales growth in May missed forecasts. The somber Chinese data weighed on oil prices, said Priyanka Sachdeva, a market analyst at Phillip Nova. A high-for-longer rate outlook may lead to further growth pressures and keep oil demand conditions in check, said Yeap Jun Rong, a market strategist at IG.

Persons: refiners, Priyanka Sachdeva, Phillip Nova, Sachdeva, Yeap Jun Rong, Yeap Organizations: Brent, . West Texas, U.S . Federal Reserve, IG, European Central Bank, Bank of England Locations: China

☆ Exclusive: Coalition aims to begin Ukrainian F-16 pilot training by summer - Dutch minister
▼ + stars: | 2023-06-12 | by ( Anthony Deutsch | ) www.reuters.com time to read: +4 min

Previously, the Netherlands had said it aimed to start training Ukrainian pilots "as soon as possible", but had stopped short of specifying when such training could get under way. And we'll see if that's realistic" for the start of the training programme, Dutch Defense Minister Kajsa Ollongren told Reuters in an interview. A final decision has not yet been taken on a request from Kyiv to supply dozens of F-16s, Ollongren said. Two sources, speaking on condition of anonymity, told Reuters the training would begin with two groups of 12 Ukrainian pilots, already experienced flying Soviet-era MiGs. Ukrainian pilots would have to learn how to operate the F-16's so-called 'hands-on throttle and stick'.

Persons: Kajsa Ollongren, Ollongren, it's, Volodymyr, Zelenskiy, Colonel Laurens, Jan Vijge, that's, Anthony Deutsch, Phillip Stewart Organizations: NATO, Reuters, Dutch Defense, U.S, Thomson Locations: Netherlands, U.S, Russia, Denmark, Ukraine, Kyiv, Belgium, Luxembourg, France, Britain, Soviet, Ukrainian, Dutch, Afghanistan, The Hague, Washington

REUTERS/Carlos BarriaJune 9 (Reuters) - The largest U.S. business group on Friday urged President Joe Biden him to intervene immediately and appoint an independent mediator to address a protracted West Coast ports labor dispute. West Coast ports stretching from California to Washington state are critical to U.S. supply chains and the nation's economy. U.S. Chamber of Commerce CEO Suzanne Clark in a letter to Biden cited "continued and potentially expanded service disruptions at these ports heading into peak shipping season." Workers reported for duty on Thursday and Friday at the Port of Los Angeles, officials said. "Operations going into the weekend seem to be the most normal they've been" since labor disruptions started late last week, Los Angeles port spokesman Phillip Sanfield said, adding that the port has limited weekend hours.

Persons: Carlos Barria, Joe Biden, Suzanne Clark, Biden, Phillip Sanfield, David Shepardson, Chizu Nomiyama, Mark Potter Organizations: Shipping, Port, REUTERS, . Chamber of Commerce, Pacific Maritime Association, Warehouse Union, Workers, Retailers, Thomson Locations: Oakland, Oakland , California, U.S, West Coast, California, Washington, Seattle, Tacoma, Los Angeles, Long, Port of Los Angeles, San Francisco, East Coast, Gulf of Mexico, Asia, Panama

The "Dana Desa" village fund introduced by President Joko Widodo in 2015 and valued at $4.7 billion this year has long been criticised as prone to corruption. "So it's reasonable if the use of the village fund is somewhat loose and anyone can do what they want with it." ILLEGAL ARMSIt is unclear how much of the $337 million in village funds allocated for the Papua region in 2023 is being diverted into arms. "I have never seen a project funded by the village fund, not at all," said Bernadus Kobogau, a tourism official in Intan Jaya. In Papua's highlands, village funds are treated like a "revolutionary tax", he said, commandeered either via intimidation and coercion, or given willingly by supporters of independence.

Persons: Dana, Joko Widodo, Phillip Mehrtens, Ignatius Benny Ady Prabowo, Dana Desa, Faizal Ramadhani, Sebby Sambom, Bernadus Kobogau, Deka Anwar, Anwar, Latifah Anum Siregar, makan tuan, Stefanno Sulaiman, Lincoln Organizations: Reuters, Indonesia Corruption Watch, West Papua National Liberation Army, Free Papua Movement, Institute for, Democracy Alliance for Papua, Thomson Locations: JAKARTA, Indonesian, Papua, New Zealand, Jakarta, Indonesia, Nduga, Intan Jaya, Nabire

☆ 24 Hours of Le Mans: 100 Years of Endurance and Innovation
▼ + stars: | 2023-06-08 | by ( Phillip Horton | ) www.nytimes.com time to read: 1 min

This year marks the 100th anniversary of the 24 Hours of Le Mans, which was first held in May 1923 to help spur innovation in the growing automotive industry by emphasizing not just speed, but also efficiency, reliability and endurance. “It is a very demanding race, and the greatest race,” said Tom Kristensen, who has won Le Mans a record nine times. The Automobile Club de l’Ouest organized that first race, designing a course on public roads south of Le Mans that bisected forests and passed residential areas.

Persons: ”, Tom Kristensen, Le Locations: Le

☆ Why are there no photos of Tim Cook and other Apple executives wearing the company's Vision Pro headset?
▼ + stars: | 2023-06-06 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

Top Apple reporter Mark Gurman noted there are no photos of Tim Cook wearing the Vision Pro headset. At the end of a busy day covering Apple's latest gadget, reporter Mark Gurman noticed something strange: There were no images of CEO Tim Cook or other Apple executives wearing the company's new Vision Pro headset. "Unless I missed something, it is very curious to me why there are no photos of Tim Cook or other Apple executives actually wearing the Vision Pro. Steve Jobs with the first iPhone APThis time, the Vision Pro device was shown on the faces of various models, who were mostly women. Various theories are being floated on why Cook and other Apple executives haven't been pictured wearing the devices.

Persons: Mark Gurman, Tim Cook, Mark Zuckerberg, Steve Jobs, Cook, haven't, Zac Hall, Apple, he's, Phillip Shoemaker Organizations: Apple, Morning, VR, Apple App

☆ Why running for president has a lot of upsides, even for the candidates who lose
▼ + stars: | 2023-06-03 | by ( Kimberly Leonard | Warren Rojas | ) www.businessinsider.com time to read: +12 min

Often, candidates can even get the book deals before they run for president, especially if there's a lot of buzz around them. CNN host and debate moderator Wolf Blitzer stands in front of the Republican presidential candidates in 2016. outlook has taken hold among both Republican and Democratic presidential candidates. Numerous presidents were once failed presidential candidates, including Lyndon Johnson, Richard Nixon, George H.W. "The only way to learn how to run for president," Sullivan said, "is to run for president."

Persons: —, Donald Trump, Ron DeSantis, Nikki Haley, Sen, Tim Scott of, Asa Hutchinson, Vivek Ramaswamy, Larry Elder, Mike Pence, Chris Christie, Doug Burgum, It's, Marco Rubio's, Terry Sullivan, Sullivan, who've, Pete Buttigieg, Kamala Harris, Kent Nishimura, aren't, Kamala Harris of, Joe Biden, Stacy Rosenberg, Haley, Glenn Youngkin —, Elizabeth Warren, Bernie Sanders, J, Miles Coleman, Ball, Mike Huckabee, Spencer Platt, Rosenberg, Doug Heye, Trump Adam Kinzinger hasn't, Archie Bunker, Trump, Hutchinson, Sanders, Michael Benet of, Biden, Heye, Rubio, John Hickenlooper, Hickenlooper, Wolf Blitzer, David J, Phillip, Hillary Clinton, Scott, Jimmy Carter, Bill Clinton, he's, Coleman, Lyndon Johnson, Richard Nixon, George H.W, Bush — Organizations: Service, GOP, Florida Gov, Arkansas Gov, New, New Jersey Gov, North Dakota Gov, White, Trump, Transportation, Los Angeles Times, Getty, Carnegie Mellon University's Heinz College of Information Systems, Public, Virginia Gov, Publishers, Macmillan Publishing, Senators, University of Virginia Center for Politics, Former Arkansas Gov, Fox News, Netflix, Republican, Democratic, Child Tax, Florida Republican, Capitol, CNN, Georgia Gov Locations: Florida, Tim Scott of South Carolina, Arkansas, New Jersey, Millenial, South Bend , Indiana, Kamala Harris of California, Virginia, Iowa, California, Illinois, United States, Michael Benet of Colorado, Colorado, New Hampshire

☆ Opinion | How to Fix the National Drug Shortage
▼ + stars: | 2023-06-02 | by ( Peter Coy | ) www.nytimes.com time to read: +3 min

If a drug manufacturer wants to supply a hospital, nursing home or other institution, it has almost no choice but to go through one of these organizations. The manufacturers pay fees to the group purchasing organization for access to its customers. The fees paid by manufacturers might ordinarily be considered illegal kickbacks under the federal anti-kickback law. That safe harbor sticks in the craw of the group purchasing organizations’ critics. “It’s the biggest scam in America, in my opinion,” Phillip Zweig, the executive director and co-founder of Physicians Against Drug Shortages, told me.

Persons: “, ” Phillip Zweig, Zweig, Sara Sirota, Critics, Todd Ebert Organizations: Department of Health, Human Services, Physicians, BusinessWeek, American Economic Liberties, Federal Trade Commission, Akorn Pharmaceuticals, Bloomberg, India’s pharma, Healthcare, Chain Association Locations: America, United States, India

☆ UK's ITV commissions review after presenter resignation row
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 31 (Reuters) - British broadcaster ITV (ITV.L) has commissioned an external review of presenter Phillip Schofield's resignation, the company said on Wednesday, after the 61-year-old admitted to lying about a relationship with a young worker. The probe was first reported by PA Media on Wednesday. "As you would expect we take the matter extremely seriously and have reviewed our own records over the weekend," a letter sent by McCall to government said, PA Media reported. The letter was sent to Ofcom, the broadcast regulator, and culture minister Lucy Frazer, PA Media reported. It said ITV had instructed a senior barrister to "carry out an external review to establish the facts".

Persons: Phillip Schofield's, Schofield, Carolyn McCall, McCall, Lucy Frazer, Paul Sandle, William James, Aurora Ellis Organizations: ITV, PA Media, Britain's, Ofcom, Thomson Locations: British, Britain

☆ Want a Truly Classic Summer Vacation? Head to This Quiet Corner of Maine
▼ + stars: | 2023-05-29 | by ( Lisa Wells | ) www.wsj.com time to read: 1 min

HIGH & MIGHTY: A trail runner stops to admire the view of Great Pond atop Mount Phillip, a popular hiking destination, in the Belgrade Lakes watershed. Photo: 7 Lakes AllianceBELGRADE LAKES is an area of central Maine that doesn’t often get attention, and locals and longtime summer residents are just fine with the anonymity. The state’s capital, Augusta (population 19,066), is near here, but no one feels slighted that the city isn’t afforded the cachet of Kennebunkport, or that tourist maps show routes up the East Coast that abruptly veer off to Bar Harbor and stop, ignoring the interior. Locals savor the long hot days lakeside, hiking, golfing or swimming at beloved nearby spots untrammeled by summer visitors.

☆ Get ready to see millions of Americans lose their jobs if Congress doesn't raise the debt ceiling in the next few days
▼ + stars: | 2023-05-29 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

The US could default on its debt as soon as June 5 if the debt ceiling isn't raised by then. That would translate to "7.8 million jobs lost from peak to trough," Yaros said. Other industries would see over half a million jobs lost in this scenario, including construction. "It's something closer to the 2001 recession that we had after the dot-com bubble, and you get about 1.5 million jobs lost from peak to trough," Yaros said. And 1.5 million jobs lost — that's still a huge human toll that was unnecessarily incurred."

☆ How the costumes of ‘American Born Chinese’ straddle fantasy and reality
▼ + stars: | 2023-05-27 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +6 min

CNN —“American Born Chinese,” the new Disney+ show based on Gene Luen Yang’s graphic novel of the same name, transports viewers to two distinct realms: Heaven, via iconic Chinese mythology, and Earth, via an American high school. The first centers on Jin Wang (Ben Wang), a Chinese American teenager at a mostly White high school. One of the storylines of "American Born Chinese" is rooted in classic Chinese mythology. But having so much Chinese and Chinese American representation on screen and behind the scenes proved immensely helpful. Sally Woo, a Chinese American costumer on the show, told Cretton stories about the Monkey King she heard from her mother and grandmother, and shared other media adaptations of “Journey to the West” for inspiration.

Persons: CNN —, Gene Luen, Joy Cretton, You’re, Jin Wang, Ben Wang, Jin, Wei, Chen, Jimmy Liu, Carlos Lopez, Disney Wei, Cretton, Sun Wukong, Daniel Wu, –, ”, Huy Quan, Freddy Wong, Cretton –, Maui –, Sally Woo, King, “, ” Cretton, Kelvin Yu, Bull, – Cretton, Phillip Lim, Prabal Gurung, Sun, Michelle Yeoh, Mercy, Lim, Yeoh Organizations: CNN, CNN — “, Disney, “, diamante Locations: United States, American, Disney, Chinatown, Los Angeles, California, Maui, Heaven

☆ TikTok Shop, a rising threat to Shopee and Lazada in Southeast Asia
▼ + stars: | 2023-05-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +7 min

CFOTO | Future Publishing | Getty ImagesTikTok Shop is a rising threat to major e-commerce players such as Shopee and Lazada in Southeast Asia. TikTok Shop is the e-commerce marketplace of short video app TikTok, which is owned by Chinese tech giant ByteDance. In 2022, TikTok Shop expanded to six Southeast Asian countries — Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand. TikTok is "focused on the continued development of TikTok Shop in Southeast Asia," said the spokesperson. To incentivize sellers to join the platform, TikTok Shop waived commission fees when it launched in Singapore in August.

Persons: TikTok, Shopee, Shawn Yang, Shop's, Sachin Mittal, Lazada's GMV, Jonathan Woo, Lazada, Shou Zi, Woo, bode Organizations: Blue Lotus Research Institute, Sea Group, DBS Bank, CNBC, Intelligence, Phillip Securities Research, TikTok, U.S, Merchants, SG, Phillip Securities Locations: Southeast Asia, India, Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand, Southeast, GMV, U.S, Statista, Brazil, China, U.S ., Montana, Texas, Nomieo

☆ Gold wobbles as sticky inflation drives up US rate hike bets
▼ + stars: | 2023-05-26 | by ( ) www.cnbc.com time to read: +1 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Gold hit a two-month low of $1,936.59 during Asian trading hours, and is set to lose 1.7% for the week. But short-term players expect a deal to be done and "have been selling behind inflation data that suggests a June hike is possible," Wong added. Traders are now betting the Fed will deliver an 11th straight rate hike in June, which would erode the attraction of zero-interest-bearing gold. Benchmark 10-year Treasury yields and the dollar index hovered near their highest levels since mid-March, both on track for their third straight weekly gains

Persons: Gold, Tai Wong, Wong, Phillip Streible Organizations: D.C, Federal, Blue, Traders Locations: Moscow, Russia, New York, Chicago

☆ The Leclerc Brothers Return Together to Race at Monaco
▼ + stars: | 2023-05-25 | by ( Phillip Horton | ) www.nytimes.com time to read: 1 min

Monaco Grand Prix fans who are from the principality have become accustomed to watching one of their own, Charles Leclerc of Ferrari, who was born in Monaco, compete in the race. At this year’s event, there will be two locals, as Arthur Leclerc, Charles’s younger brother, races there in Formula 2 on Saturday. “I have really early memories in Monaco when I was looking at Formula 1, and my only dream was to be in their place and to drive in Formula 1 in Monaco. I’m not driving in Formula 1, I’m driving in Formula 2, but it’s a dream coming true. It’s exciting.”Arthur, 22, is the younger brother of Charles, 25, who drives for Ferrari and was the runner-up for the 2022 drivers’ championship.

☆ Why China and Japan are praying the US won’t default
▼ + stars: | 2023-05-25 | by ( Laura He | ) edition.cnn.com time to read: +8 min

China and Japan are the largest foreign investors in American government debt. China was the largest foreign creditor to the United States for more than a decade. The falling value of Treasuries would lead to a drop in Japan and China’s foreign reserves. “If the United States defaults on its debt, it will not only discredit the United States, but also bring real financial losses to China,” it said. Analysts say Beijing has shown little willingness to fully integrate with global financial markets.

Search resuls for: "Phillip"

25 mentions found