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☆ A Meal in France Showed Me the Brilliance of Simplicity
▼ + stars: | 2023-08-30 | by ( Ligaya Mishan | ) www.nytimes.com time to read: +2 min

Once I tried out the line “Remember who you were before you had a permanent address.” The client scoffed. At the time I lived in a converted garage by a cemetery, the third place I’d moved in a year. The restaurant was unexceptional — plastic chairs, coarse tablecloths, low guttering candles — and perfect. In the maze of the old quarter, we sat at a table outside, on stone stairs descending from another century. The restaurant was unexceptional — plastic chairs, coarse tablecloths, low guttering candles — and perfect.

Persons: ”, I’d, Chantal, Audrey Hepburn’s, Olivier ducking, Lukas, Sasha, Mark, salade, “ Locations: Hawaii, Switzerland, Thailand, Myanmar

☆ Reaction to Gabon army officers announcing coup
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

Below are reactions to what appeared to be the eighth military coup in West and Central Africa since 2020. FRENCH GOVERNMENT SPOKESPERSON OLIVIER VERAN"We condemn the military coup and recall our commitment to free and transparent elections." EU HIGH REPRESENTATIVE FOR FOREIGN AFFAIRS AND SECURITY POLICY JOSEP BORRELL"If this is confirmed, it is another military coup which increases instability in the whole region. RUSSIAN FOREIGN MINISTRY SPOKESPERSON MARIA ZAKHAROVA"Moscow has received with concern reports of a sharp deterioration in the internal situation in the friendly African country. U.N. SECRETARY-GENERAL ANTONIO GUTERRES"The Secretary-General is following the evolving situation in Gabon very closely.

Persons: Gerauds Wilfried Obangome, Ali Bongo, Moussa Faki Mahamat, BOLA TINUBU'S, Bola Ahmed Tinubu, GENERAL PATRICIA SCOTLAND, OLIVIER VERAN, WANG WENBIN, Bongo, JOSEP BORRELL, MARIA ZAKHAROVA, JOHN KIRBY, It's, GENERAL ANTONIO GUTERRES, Nellie Peyton, Sofia Christensen, Alexander Winning, Sharon Singleton, Andy Sullivan Organizations: REUTERS, Central African, AU, H.E, WEST, BLOC ECOWAS, GENERAL, Commonwealth Secretariat, MINISTRY, EU HIGH, Thomson Locations: Libreville, Gabon, West, Central Africa, Gabonese Republic, Republic, NIGERIA, African Union, CHINA, China, Central African Republic, Mali, Burkina Faso, Niger, Moscow

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/style/fashion/ralph-lauren-chanel-bottega-veneta-ce0811df

Persons: Dow Jones, ralph, lauren, chanel Organizations: ce0811df

That sobering view of a post-pandemic global economy emerged from research organized by the Kansas City Federal Reserve and debated here this past weekend. "This puts us in a bleak setting, thinking about the parts of the world that are labor rich but capital poor," he said. "I do remember a time, maybe a more naive time...when more trade would create friends," said Ben Broadbent, deputy governor of the Bank of England. If there was a potential bright spot, it was around the discussion of advances in artificial intelligence as a possible driver of higher productivity. Reporting by Howard Schneider; Editing by Dan Burns and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: JACKSON, Pierre, Olivier Gourinchas, Gourinchas, Maurice Obstfeld, Barry Eichengreen, Eswar Prasad, Donald Trump, Biden, Jared Bernstein, Bernstein, Ben Broadbent, Ngozi Okonjo, Iweala, Trump, Nela Richardson, Howard Schneider, Dan Burns, Andrea Ricci Organizations: Kansas City Federal Reserve, U.S, Monetary Fund, Fed, Peterson Institute for International Economics, International Monetary Fund, University of California, Cornell University, U.S . White House Council, Economic, Biden, Bank of England, Trade Organization, Thomson Locations: , Wyoming, Ukraine, China, West, Washington . China, U.S, Berkeley, Japan, Nigeria, Russian, Europe

Ruined rice crops in India's Haryana state. More than three billion people worldwide rely on rice as a staple food and India contributed to about 40% of global rice exports. India's rice stock is piling up as a result of the ban. Vijay Bedi/CNNAt one of New Delhi’s largest rice trading hubs, there are fears among traders that the export ban will cause catastrophic consequences. “The export ban has left traders with huge amounts of stock,” said rice trader Roopkaran Singh.

Persons: India CNN — Satish Kumar, “ I’ve, ”, Kumar, Vijay Bedi, Niño, ” Kumar, ” Satish Kumar, Ukraine —, ” Arif Husain, Pierre, Olivier Gourinchas, ” Husain, “, CNN Surjit Singh, Harayana, …, El Niño, Roopkaran Singh, Husain Organizations: India CNN, CNN, United Nations Food, Agriculture Organization, India wasn’t, United Nations, Food Programme, ” Workers, Thai Rice, Association, India’s Ministry of Agriculture, Monetary Fund, Farmers, Reuters, Meteorological Organization Locations: Harayana, India, India’s Haryana, “, India's Haryana, Ukraine, Global South, United States, Russia, Rice, New Delhi, CNN Nepal, Vietnam, Thailand, Thai, Singapore, Indonesia, Philippines, El, India’s, West Africa

"The economy is a global economy, right? Yet Fed officials remain puzzled, and somewhat concerned, over conflicting signals in the incoming data. But gross domestic product is still expanding at a pace well above what Fed officials regard as the non-inflationary growth rate of around 1.8%. Difficulties in China, meanwhile, may drag down global growth the longer they fester. Its slowdown after a short-lived growth burst earlier this year could pinch Germany's exports and slow Europe's growth, for instance.

Persons: Jerome Powell, Christine Lagarde, Kazuo Ueda, Ann Saphir, JACKSON, Jackson, Pierre, Olivier Gourinchas, Loretta Mester, Mester, Lagarde, Biden, Nathan Sheets, Powell, Gourinchas, Howard Schneider, Dan Burns, Andrea Ricci Organizations: European Central Bank, Bank of Japan, Kansas City Federal, REUTERS, Federal, U.S, Monetary Fund, Cleveland Fed, Reuters, Citigroup, Consumer, Thomson Locations: Jackson Hole , Wyoming, U.S, , Wyoming, Brazil, Chile, China, Ukraine

☆ Usain Bolt: The story behind one of athletics’ most iconic images
▼ + stars: | 2023-08-27 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +4 min

CNN —In 2013, Usain Bolt had the world at his feet. By the time the World Championships rolled round to Moscow in 2013, Bolt had achieved an almost mythical status on the track. Morin continued: “Bolt, bolt – I made the relation right away, of course. The pair reunited two years later during the World Championships in Beijing and discussed the image. Bolt celebrates on the podium with his gold medal for the 100m at the 2013 World Championships.

Persons: Usain Bolt, Bolt, Olivier Morin, Lightning Bolt Morin, “, ” Morin, Morin, ”, ‘, ’, Paul Gilham Organizations: CNN, Agence France Presse, CNN Sport, Getty Locations: Beijing, Moscow, Russian, French, AFP

European Commissioner for Internal Market Thierry Breton attends a news conference following an informal video conference of internal market and industry ministers in Brussels, Belgium February 25, 2021. These very large online platforms and very large online search engines have until Friday to provide their first annual risk assessment to the European Commission. "Complying with the DSA is not a punishment – it is an opportunity for these online platforms to reinforce their brand value and reputation as a trustworthy site," Breton said in a statement. "My services and I will thoroughly enforce the DSA, and fully use our new powers to investigate and sanction platforms where warranted," he said. Reporting by Foo Yun Chee; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Thierry Breton, Olivier Hoslet, Breton, Foo Yun Chee, Chizu Organizations: Internal, Rights, Google, Microsoft, Twitter, Digital Services, DSA, HK, European Commission, Thomson Locations: Brussels, Belgium, Europe

This has in turn meant authorities have urged climbers to delay scaling the mountain, which straddles the French-Italian border, because high temperatures have created dangerous conditions. "The heat wave has also an impact on high mountains, it doesn't stop on the plains," said Nicolas Zickler, commanding officer of a high mountain police rescue team. "The routes have changed, the timing of the season has changed, the weather conditions have changed," she said. "The decrease of the glaciers is worrying," said the president of Mont Blanc guide company Compagnie des Guides de Chamonix, Olivier Greber. Reporting by Cecile Mantovani, Denis Balibouse, Writing by Charlotte Van Campenhout; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Mat Cooper, Daniel Trevena, Les Cosmiques, Denis Balibouse, Nicolas Zickler, Cooper, Mont, Olivier Greber, It's, Cecile Mantovani, Charlotte Van Campenhout, Chris Reese Organizations: REUTERS, Compagnie des Guides de Chamonix, Thomson Locations: Chamonix, France, Blanc, CHAMONIX, Mont Blanc, Australian, Swiss, Blanc's

☆ Christian Pulisic: US captain scores sensational goal on AC Milan debut
▼ + stars: | 2023-08-22 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —US Men’s National Team captain Christian Pulisic scored a sensational goal on his debut for Italian side AC Milan on Monday night. The 24-year-old’s thunderous 21st-minute strike was the second of the night in AC Milan’s 2-0 victory over Bologna as the team began its Serie A campaign strongly. Nice to get a goal, while a clean sheet and a win are always nice.”Giroud scored Milan’s opening goal, tapping home from close range after just 11 minutes. Following a disappointing Serie A title defense last season – though the Italians did reach the semifinals of the Champions League – AC Milan has recruited heavily this offseason in the hope of reclaiming the Scudetto. Pulisic scores Milan's second goal against Bologna.

Persons: Christian Pulisic, Pulisic, Olivier Giroud, ” Pulisic, DAZN, ” Giroud, Sandro Tonali, Midfielders Ruben Loftus, Cheek, Luka Romero, Tijjani Reijnders, Yunus Musah, Noah Okafor, Samuel Chukwueze, Alessandro Sabattini, ” Milan, Stefano Pioli, “, ” Pioli, ” Organizations: CNN, US Men’s National Team, Italian, AC Milan, Champions League –, Milan, English Premier League, Newcastle United, Midfielders, Chelsea, Bologna Locations: Chelsea, Bologna, Italy, Milan, London, “

☆ 'Barbenheimer', rains in Northern Europe spur Kinepolis sales
▼ + stars: | 2023-08-17 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

Aug 17 (Reuters) - Belgian cinema operator Kinepolis (KIPO.BR) said on Thursday July was one of its best months in terms of sales as blockbuster films "Barbie" and "Oppenheimer", along with rainy weather in Northern Europe, lured people into cinemas. "Here in... Northern Europe, we essentially had in the month of July good cinema weather, meaning a lot of rain," Duquenne said. Duquenne said that in Spain, where Kinepolis owns 10 cinema complexes, people "often come to the cinemas because we do have air conditioning". On Thursday, Kinepolis posted record half-year sales, as attendance at its cinemas grew 22.8% year-on-year to 16.8 million visitors. That figure still fell short of pre-pandemic levels, standing at 74.8% of the attendance in the first half of 2019, excluding the cinemas Kinepolis took over and inaugurated.

Persons: Oppenheimer, Eddy Duquenne, Mario, Barbie, Duquenne, Kinepolis, Olivier Sorgho, Devika Organizations: Mario Bros, Thomson Locations: Belgian, Northern Europe, ., Belgium, Netherlands, United States, Spain

☆ EU greenhouse gas emissions fall 3% in the first quarter
▼ + stars: | 2023-08-16 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Eurostat FollowAug 16 (Reuters) - Greenhouse gas emissions in the European Union fell by nearly 3% in the first quarter of 2023, even as the bloc's economy grew slightly, statistics agency Eurostat said on Wednesday. The EU's emissions over the January to March quarter amounted to 941 million metric tonnes of CO2 equivalents, down 2.9% from a year earlier, while the economy grew 1.2% year-on-year. Emissions fell in 21 of the bloc's 27 countries, with the largest decreases seen in Bulgaria, Estonia and Slovenia. Households were responsible for the biggest share - nearly a quarter - of total greenhouse gas emissions, Eurostat said, while manufacturing accounted for a fifth. Electricity and gas supply - the sector where emissions fell the most - still contributed 19% to the total figure, with agriculture accounting for 13% and transportation and storage responsible for 10%.

Persons: Neurath, Wolfgang Rattay, Olivier Sorgho Organizations: REUTERS, European, Eurostat, heatwaves, Electricity, Thomson Locations: Cologne, Germany, Portugal, Spain, Bulgaria, Estonia, Slovenia, Ireland, Latvia, Slovakia, Denmark, Sweden, Finland

☆ Halle Berry celebrated her birthday with a Barbie-themed party
▼ + stars: | 2023-08-15 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Halle Berry channeled her inner Barbie for her 57th birthday. “My mini me (but not so mini anymore) and my VanO took me to the World of Barbie for my B-day!” Berry wrote. And….I highly recommend it,” Berry captioned a post of several photos of her birthday outing. Lena Waithe wrote, “Happy birthday! Love you.”Berry shares Nahla with her model Gabriel Aubry.

Persons: Halle Berry, Barbie, Van Hunt, Nahla, ” Berry, “, Berry’s, Julianne Moore, Philip Bloch, Berry, Lena Waithe, Gabriel Aubry, Maceo, Olivier Martinez, David Justice, Eric Benet Organizations: CNN Locations: Santa Monica, Calif

☆ Bond traders prepare to brave 'painful' yield curve bets as rate hikes slow
▼ + stars: | 2023-08-09 | by ( Harry Robertson | ) www.reuters.com time to read: +5 min

Those moves have put the focus back on "steepening trades" - bets that shorter-dated yields will fall relative to longer-dated yields. "Everyone is now re-looking at these curve trades," said Olivier De Larouziere, chief investment officer for global fixed income at BNP Paribas Asset Management. "I would expect that in the next quarter, more people will start positioning for a steepening of the yield curve." That's led to a rare situation where the bond yield curve is "inverted". TIMING IS EVERYTHINGThe market moves over the last week highlight the risk of curve trades.

Persons: Lucas Jackson, Olivier De Larouziere, Fabio Bassi, That's, Alexandre Caminade, Anne Beaudu, Larouziere, JPMorgan's Bassi, Franck Dixmier, John Williams, Ostrum's Caminade, Harry Robertson, Sharon Singleton Organizations: Federal Reserve Bank of New, REUTERS, Bond, U.S, BNP, Management, U.S . Federal Reserve, European Central Bank, JPMorgan, Treasury, Ostrum, ECB, Allianz Global Investors, Reuters Graphics, New York Fed, New York Times, Thomson Locations: Federal Reserve Bank of New York, New York City, U.S, Europe, New

☆ Factbox: European countries imposing windfall taxes on banks
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +4 min

But he and Finance Minister Bruno Le Maire have ruled out the possibility of a windfall tax. HUNGARYHungary's government has tweaked windfall taxes imposed on key sectors of the economy in a decree published in June, saying banks can reduce their 2024 windfall tax payments by up to 50% if they increase their Hungarian government bond purchases. ITALYItaly approved on Aug. 8 a one-off 40% tax on profits banks reap from higher interest rates and it plans to use the proceeds to help mortgage holders. LITHUANIALithuania's parliament approved in May a windfall tax on the banking industry's net interest income for 2023 and 2024 following a sharp rise in European Central Bank interest rates. It is expected to raise 6 billion Swedish crowns a year.

Persons: Ralph Orlowski, Emmanuel Macron, Bruno Le Maire, Christian Lindner, Alessandro Parodi, Matteo Allievi, Olivier Sorgho, Silvia Aloisi, Tom Sims, Holger Hansen, Marta Frąckowiak, Alexander Smith Organizations: Germany's Deutsche Bank, REUTERS, Finance, HUNGARY Hungary's, European Central Bank, Swedish Government, Thomson Locations: Frankfurt, Germany, Italy, CZECH REPUBLIC, Czech, France, GERMANY, HUNGARY, ITALY Italy, LITHUANIA, SPAIN Spain, SWEDEN, Britain

☆ Cloud stocks falter as Datadog trims 2023 revenue expectations
▼ + stars: | 2023-08-08 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Cloud stocks slipped on Tuesday, after one of the more prominent ones, Datadog , lowered its full-year revenue guidance as organizations remain engaged in cost-saving exercises. Then inflation hit, central bankers raised interest rates, and investors began selling holdings in fast-growing cloud stocks and rotating into safer investments that could more consistently offer returns. Executives at many cloud companies responded by reducing overhead, sometimes in the form of layoffs. Cloud stocks began to rebound, but many, including Datadog, have yet to trade above their record highs from 2021. Like Datadog, Everbridge , whose software helps companies respond to emergencies, lowered its growth expectations for the full year on Tuesday.

Persons: Datadog, Refinitiv, Olivier Pomel, Pomel, Bernstein, Peter Weed, Covid, RingCentral, Hewlett Packard, Tarek Robbiati, Vlad Shmunis, Sonalee Parekh, Patrick Brickley Organizations: Computing Fund, Bernstein Research, Nasdaq Locations: U.S, Smartsheet, Snowflake

☆ Ancient whale from Peru may be most massive animal ever on Earth
▼ + stars: | 2023-08-02 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

Giovanni Bianucci/Handout via REUTERSAug 2 (Reuters) - Move over, blue whale. The biggest-known blue whale weighed around 190 tons, though it was longer than Perucetus at 110 feet (33.5 meters). Its skeletal mass alone was estimated at between 5 and 8 tons, at least twice that of the blue whale. The researchers suspect Perucetus lived like sirenians - not an active predator but an animal that fed near the bottom of shallow coastal waters. The researchers said it was unlikely Perucetus was a filter-feeder like today's baleen whales including the blue whale.

Persons: Giovanni Bianucci, Perucetus, Bianucci, Olivier Lambert of, Will Dunham, Rosalba O'Brien Organizations: REUTERS, University of Pisa, Royal Belgian Institute of Natural Sciences, Thomson Locations: Peru, Handout, Italy, Argentina, sirenians, Brussels, hoofed, Washington

☆ Investor sentiment on the U.S. is neutral to positive, analyst says
▼ + stars: | 2023-08-02 | 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 EmailInvestor sentiment on the U.S. is neutral to positive, analyst saysOlivier d'Assier, head of applied research of Asia-Pacific at Qontigo, says the United States has low volatility, good earnings and a resilient economy.

Persons: Olivier d'Assier Locations: Asia, Qontigo, United States

☆ The partial skeleton of an ancient whale shows it could've weighed nearly as much as a Boeing 747, making it one of the heaviest animals ever
▼ + stars: | 2023-08-02 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +6 min

It may have weighed twice as much as a blue whale because of its dense bones. That's nearly as heavy as a Boeing 747 or twice as much as a blue whale, which typically weighs between 72 and 180 tons. That means the other fossils retrieved from the area may not offer clues to how P. colossus lived. A 3D model shows what a complete skeleton of Perucetus colossus would look like, above a blue whale and smaller Cynthiacetus peruvianus skeletons. No limbs were found near the P. colossus skeleton, but fossilized evidence suggests it likely had both front and back legs.

Persons: Mario Urbina, Olivier Lambert, Giovanni Bianucci, Cynthiacetus, colossus, colossus isn't, Lambert, Florent Goussard, Marco Merella Organizations: Service, Boeing, Santa Barbara Museum of, History Locations: Wall, Silicon, Pisco, Peru, London

☆ The 'crypto couple' is pleading guilty in their alleged $4.5 billion bitcoin heist. Here's how the saga unfolded.
▼ + stars: | 2023-07-31 | by ( Michelle Mark | ) www.businessinsider.com time to read: +4 min

The "crypto couple" Ilya Lichtenstein and Heather Morgan are due for a plea hearing on August 3. The couple is expected to plead guilty to orchestrating a $4.5 billion bitcoin-laundering scheme. An attorney for both Lichtenstein and Morgan did not respond to Insider's request for comment ahead of Thursday's plea hearing. Prosecutors also alleged that Lichtenstein and Morgan had been planning to flee to Russia under new identities. Lichtenstein, whom prosecutors have described as a flight risk due to his Russian citizenship, has remained incarcerated.

Persons: Ilya Lichtenstein, Heather Morgan, ensnared, Lichtenstein, Morgan, Olivier Douliery Organizations: Service, Department of Justice, IRS, Prosecutors Locations: Wall, Silicon, Manhattan, United States, Lichtenstein, Russia

☆ Mega Millions jackpot hits $940 million. If you win, here's the tax bill
▼ + stars: | 2023-07-28 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

The Mega Millions jackpot grew to $940 million on July 27, 2023. OLIVIER DOULIERY | GettyThe Mega Millions jackpot has ballooned to an estimated $940 million ahead of Friday's high-stakes drawing at 11:00 p.m. The chance of hitting the Mega Millions jackpot is roughly 1 in 302 million. About $113.4 million immediately goes to the IRSBefore collecting a dollar of the Mega Millions jackpot, there's a 24% federal withholding. watch nowHow to calculate federal taxesThe multimillion-dollar Mega Millions jackpot bumps the winner into the top federal income tax bracket, which is currently 37%.

Persons: OLIVIER DOULIERY, John Loyd, Loyd Organizations: IRS, Mega Locations: Fort Worth , Texas

☆ STMicroelectronics posts higher Q2 sales helped by automotive demand
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - European chipmaker STMicroelectronics <STMPA.PA> on Thursday projected improvement in third-quarter sales as it slightly beat market expectations for the second quarter, defying earlier downbeat statements by some of its peers. STM said it expects third-quarter net revenues of $4.38 billion, a touch above the $4.32 billion it posted in the third quarter last year. STM's second-quarter sales rose 12.7% year-over-year to $4.33 billion, slightly above a consensus from Refinitiv data, which had expected $4.27 billion. It now expects revenues in 2023 of $17.4 billion, give or take $150 million. In April, it guided for a range of 17.0 billion to $17.8 billion.

Persons: Chipmakers, Taiwan's TSMC, Jean, Marc Chery, Olivier Sorgho, Jacqueline Wong, Kim Coghill Organizations: Texas, NXP Semiconductors, Industrial, Electronics, Thomson

☆ Forvia's shares fall after 'unimpressive' outlook hike
▼ + stars: | 2023-07-27 | by ( Michal Aleksandrowicz | ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Forvia's (FRVIA.PA) shares fell as much as 8% in early trading on Thursday, after a slight hike to the car parts maker's annual targets failed to impress investors. The world's seventh-largest automotive supplier raised its estimate for global auto production to around 86 million light vehicles this year, from 82 million previously. It forecast 2023 sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from an earlier range of 25.2-26.2 billion. Global automotive production grew more than 10% in the first half of the year, on sustained demand and gradual improvement in semiconductors supply, CEO Patrick Koller said in a statement. Forvia's half-year operating profit jumped nearly 70% to 675 million euros, but was 2% below analysts' consensus estimates, according to a research note by J.P.Morgan.

Persons: Patrick Koller, Olivier Durand, J.P.Morgan, Michal Aleksandrowicz, Milla Nissi, Bernadette Baum Organizations: Global, Thomson Locations: Gdansk

☆ Limited support for central bank digital currencies in global investment industry survey
▼ + stars: | 2023-07-26 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

LONDON, July 26 (Reuters) - The most comprehensive survey of the global investment industry on central bank digital currencies to date has shown both limited support and a lack of understanding of how a digital dollar, euro, yen or pound would work. The survey carried out by the CFA Institute, a worldwide association for bankers, investors and finance chiefs, found that only 42% of the more than 4,150 respondents who took part believed that central bank digital currencies, or CBDCs, should be launched. Only 37% of respondents from developed markets said they favoured a CBDC versus 61% from emerging markets. Data privacy was also a major concern for 64% of respondents in developed markets and 57% in developing economies. Less than a quarter of respondents under 30 opposed them, the survey found, compared with 37% among those over 55.

Persons: Olivier Fines, Andrew Bailey, Marc Jones, Leslie Adler Organizations: CFA Institute, CFA, European Union, People's Bank of, Bank of England, CBDCs, Thomson Locations: Bahamas, Nigeria, United States, Canada, United Kingdom, China, People's Bank of China, India, Central

☆ IMF sees drought causing Argentina contraction of 2.5% in 2023
▼ + stars: | 2023-07-25 | by ( David Lawder | ) www.reuters.com time to read: +1 min

WASHINGTON, July 25 (Reuters) - The International Monetary Fund said on Tuesday it is now projecting Argentina's economy will contract 2.5% in 2023, with a year-end inflation rate of about 120%, largely due to a crippling drought that has curtailed agricultural production. "Argentina is facing a very difficult situation particularly that's made worse by the drought, the agricultural drought it has been facing in the last year or so," IMF chief economist Pierre-Olivier Gourinchas told a news conference. The Argentina forecast, a steep downgrade from an April projection of 0.2% growth in 2023, stands in stark contrast to a slightly improved outlook for global growth in the IMF's latest World Economic Outlook projections. Gourinchas declined to comment on how the forecasts may affect negotiations with Argentina over its $44 billion IMF loan program. IMF deputy research director Petya Koeva-Brooks said the inflation projection of 120% would require some moderation of inflation rates and would require implementing macroeconomic policies agreed between the IMF and Argentina.

Persons: Pierre, Olivier Gourinchas, Petya Koeva, Brooks, David Lawder, Chizu Organizations: Monetary Fund, IMF, The, Thomson Locations: Argentina

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