Today: September 23, 2024
Today: September 23, 2024

Uncategorized

Uncategorized

Marketmind: US CPI smile fades, it's raining yen

– A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Markets are betting that the Fed’s most aggressive rate-hiking campaign in more than 40 years is over. But now what? Wall Street initially gave a huge thumbs up to U.S. inflation data that showed some measures of underlying price pressures cooled significantly last month, prompting rates futures markets to call an end to the Fed’s tightening cycle. But the early gains of more than 1% evaporated as longer-dated Treasury yields started to climb again, and the three main indexes closed

August 10, 2023
Marketmind: US CPI smile fades, it's raining yen
Uncategorized

Flying taxi maker Archer settles Boeing Wisk lawsuits, secures new investment

Air taxi maker Archer Aviation has reached an agreement with Boeing and its Wisk air taxi unit to settle litigation and collaborate on autonomous technology, the companies said on Thursday. Archer’s shares jumped 30% in after-hours trading to $7.60. Separately, Archer said it completed a $215 million equity investment round that includes Stellantis, Boeing, United Airlines, and ARK Investment Management, increasing Archer’s total funding to date to over $1.1 billion as it works to win Federal Aviation Administration certification and begin commercial operations in 2025. In a joint statement with Boeing and Wisk, Archer said it

August 10, 2023
Flying taxi maker Archer settles Boeing Wisk lawsuits, secures new investment
Uncategorized

Flying taxi maker Archer settles Boeing Wisk lawsuits, shares jump

Air taxi maker Archer Aviation has reached an agreement with Boeing and its Wisk air taxi unit to settle litigation and collaborate on autonomous technology, the companies said on Thursday. Archer’s shares jumped 30% in after-hours trading to $7.60. Separately, Archer said it completed a $215 million equity investment round that includes Stellantis, Boeing, United Airlines, and ARK Investment Management, increasing Archer’s total funding to date to over $1.1 billion as it works to win Federal Aviation Administration certification and begin commercial operations in 2025. In a joint statement with Boeing and Wisk, Archer said it

August 10, 2023
Flying taxi maker Archer settles Boeing Wisk lawsuits, shares jump
Uncategorized

Bittrex to pay $24 million to settle with US securities regulator

Bittrex has agreed to pay $24 million to settle claims by the U.S. Securities and Exchange Commission that the cryptocurrency exchange failed to register with the agency, according to a filing in Seattle federal court on Thursday. The SEC sued Bittrex Inc and its former CEO William Shihara in April, saying they operated an unregistered national securities exchange, broker and clearing agency. The SEC also claimed the exchange’s foreign affiliate, Bittrex Global GmbH, failed to register as a national securities exchange in connection with its operation of a single shared order book along with Bittrex. Bittrex

August 10, 2023
Bittrex to pay $24 million to settle with US securities regulator
Uncategorized

Breakfast for 40 cents: what China's deflation looks like

At Nanchengxiang restaurants in Beijing, customers treat themselves to a breakfast buffet with three types of rice porridge, sour and spicy soup, and milk – all for the price of 3 yuan ($0.40). “Many good, cheap choices popped up during the pandemic,” said 71-year-old Gao Yi, while sharing breakfast with his grandson in one of the chain’s 160 outlets in the Chinese capital. “Not all of them last. But there are new good deals all the time, you just have to go out to find them.” That’s what deflation looks like

August 10, 2023
Breakfast for 40 cents: what China's deflation looks like
Uncategorized

Colombian conglomerate Grupo Aval, subsidiary settle charges of violating US law

– Colombian conglomerate Grupo Aval and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday. The financial conglomerate and its unit Corporación Financiera Colombiana or Corficolombiana were charged with violating the U.S. Foreign Corrupt Practices Act, according to the U.S. Justice Department and the Securities and Exchange Commission (SEC). After the settlement was reached, Grupo Aval said the Justice Department did not bring any enforcement action and the SEC did not make a claim against the company for bribery. The company added it considered

August 10, 2023
Colombian conglomerate Grupo Aval, subsidiary settle charges of violating US law
Uncategorized

Wall Street ends flat, after pop from July inflation data fizzles

– Wall Street’s main indexes finished flat on Thursday, giving up most early gains on milder-than-feared inflation data as investors worried about the U.S. economy’s longer-term prospects and whether stocks had further room to run. Data showed headline and core consumer prices both climbed by 0.2% in July, with the headline number notching annual rise of 3.2% and the core up 4.7%. In the first hour of trading, the three benchmark indexes advanced more than 1% as traders bet the U.S. Federal Reserve would stop further monetary tightening in 2023 and start cutting interest rates early

August 10, 2023
Wall Street ends flat, after pop from July inflation data fizzles
Uncategorized

Amazon switches rockets for first test satellites to avoid launch delay

Amazon.com Inc plans to launch its first pair of prototype internet satellites late next month on a different rocket than previously planned, a spokesman said on Monday, again switching rides for the spacecraft to avoid mounting rocket delays. The company will launch the first two satellites for Amazon’s Kuiper program, which aims to offer internet globally from space, aboard a dedicated Atlas V rocket from the Boeing-Lockheed joint venture United Launch Alliance (ULA), spokesman James Watkins said. The targeted launch date is Sept. 26, he said. Amazon last year announced plans to launch the satellite

August 10, 2023
Amazon switches rockets for first test satellites to avoid launch delay
Uncategorized

Flying taxi maker Archer settles Boeing Wisk lawsuits, shares jump

Air taxi maker Archer Aviation has reached an agreement with Boeing and its Wisk air taxi unit to settle litigation and collaborate on autonomous technology, the companies said on Thursday. Archer’s shares jumped 30% in after-hours trading to $7.60. Separately, Archer said it completed a $215 million equity investment round that includes Stellantis, Boeing, United Airlines, and ARK Investment Management, increasing Archer’s total funding to date to over $1.1 billion as it works to win Federal Aviation Administration certification and begin commercial operations in 2025. In a joint statement with Boeing and Wisk, Archer said it

August 11, 2023
Flying taxi maker Archer settles Boeing Wisk lawsuits, shares jump
Uncategorized

Singapore Q2 GDP grows 0.1% q/q, lower than first estimated

– Singapore’s economy expanded less than initially estimated in the second quarter, official data showed on Friday, as the city-state averted a recession. Gross domestic product (GDP) grew a seasonally adjusted 0.1% quarter-on-quarter in April to June, the Ministry of Trade and Industry said, lower than the 0.3% growth seen in the government’s advance estimate. “Singapore’s external demand outlook for the rest of the year remains weak,” MTI said in a statement. On an annual basis, the economy expanded 0.5%, compared with the government’s advance estimate of 0.7% and first quarter growth of 0.4%. MTI has narrowed its

August 11, 2023
Singapore Q2 GDP grows 0.1% q/q, lower than first estimated
Uncategorized

Striking Hollywood writers, studios to return to bargaining table

– Negotiators for striking Hollywood writers and the major studios will return to the bargaining table on Friday, the Writers Guild of America (WGA) said as the strike marked more than 100 days. The Alliance of Motion Picture and Television Producers, the group representing Walt Disney, Netflix, Warner Bros Discovery and other studios, is expected to provide responses to proposals from the WGA, the union said in a statement on Thursday. The strike began on May 2 after talks between the WGA and the major studios reached an impasse over compensation, minimum staffing of

August 11, 2023
Striking Hollywood writers, studios to return to bargaining table
Uncategorized

Striking Hollywood writers, studios to return to bargaining table

– Negotiators for striking Hollywood writers and the major studios will return to the bargaining table on Friday, the Writers Guild of America (WGA) said as the strike marked more than 100 days. The Alliance of Motion Picture and Television Producers, the group representing Walt Disney, Netflix, Warner Bros Discovery and other studios, is expected to provide responses to proposals from the WGA, the union said in a statement on Thursday. The strike began on May 2 after talks between the WGA and the major studios reached an impasse over compensation, minimum staffing of

August 11, 2023
Striking Hollywood writers, studios to return to bargaining table
Uncategorized

Striking Hollywood writers, studios to return to bargaining table

– Negotiators for striking Hollywood writers and the major studios will return to the bargaining table on Friday, the Writers Guild of America (WGA) said as the strike marked more than 100 days. The Alliance of Motion Picture and Television Producers, the group representing Walt Disney, Netflix, Warner Bros Discovery and other studios, is expected to provide responses to proposals from the WGA, the union said in a statement on Thursday. The strike began on May 2 after talks between the WGA and the major studios reached an impasse over compensation, minimum staffing of

August 11, 2023
Striking Hollywood writers, studios to return to bargaining table
Uncategorized

Oil prices tick higher on OPEC demand optimism

– Oil prices edged higher on Friday on optimism from the OPEC producer group that oil demand will be robust in 2024 as it also nudged up its expectations for global economic growth. Brent crude rose 7 cents to settle at $86.47 a barrel at 0017 GMT, while U.S. West Texas Intermediatecrude futures gained 12 cents at $82.94 a barrel. Both benchmarks have been on a sustained rally since June, with West Texas Intermediate crude (WTI) trading on Thursday at its highest this year and Brent hitting its best price since January. Prices have rallied on

August 11, 2023
Oil prices tick higher on OPEC demand optimism
Uncategorized

California agency approves San Francisco robotaxi expansion amid heavy opposition

Alphabet Inc’s Waymo and General Motors’ Cruise can operate paid robotaxi services using unmanned self-driving vehicles throughout San Francisco, California state regulators voted on Thursday, in the face of vigorous pushback from city transportation, safety agencies and many residents. The vote by the California Public Utilities Commission – 3 to 1 in favor – takes effect immediately, meaning the companies could begin citywide paid taxi service throughout the city and at all hours of the day as soon as Thursday. Cruise and Waymo have been running experimental services limited by times and geographic areas.

August 11, 2023
California agency approves San Francisco robotaxi expansion amid heavy opposition
Uncategorized

Bank of Mexico again holds interest rate firm, even as region begins cuts

– The Bank of Mexico maintained its benchmark interest rate at 11.25% on Thursday, in line with analysts’ forecasts, underscoring that the inflationary outlook remains “very complex” and suggesting the rate could hold steady for a while. The unanimous decision by the central bank’s five-member board is the third consecutive rate hold since Banxico, as the Bank of Mexico is known, halted a two-year hiking cycle in May amid easing inflation. While falling inflation has elicited rate cuts elsewhere in Latin America, Banxico has taken a more cautious approach as inflation in Latin America’s

August 11, 2023
Bank of Mexico again holds interest rate firm, even as region begins cuts
Uncategorized

Microsoft's role in data breach part of US cyber inquiry - Bloomberg News

– A U.S. cybersecurity advisory panel will investigate risks in cloud computing, that will also include Microsoft Corp’s role in the recent breach of government department email systems by suspected Chinese hackers, Bloomberg News reported on Thursday, citing people familiar with the matter. (Reporting by Gokul Pisharody in Bengaluru; Editing by Himani Sarkar)

August 11, 2023
Microsoft's role in data breach part of US cyber inquiry - Bloomberg News
Uncategorized

Chinese bourses improve trading mechanism to revive stock market

– Shanghai and Shenzhen stock exchanges said late Thursday they would study measures to lower investors’ trading costs and improve liquidity to further stimulate the market. The measures include allowing investors to place smaller orders in auction trading and improving trading mechanisms for exchange-traded funds (ETFs). The exchanges also revised rules to allow faster development of index funds. The announcements came after top Chinese leaders vowed to “invigorate capital markets and boost investor confidence” during the July politburo meeting as Beijing struggles to revive flagging economic growth. They also came after China’s securities regulators nudged mutual fund

August 11, 2023
Chinese bourses improve trading mechanism to revive stock market
Uncategorized

Microsoft's role in data breach part of US cyber inquiry -Bloomberg News

– A U.S. cybersecurity advisory panel will investigate risks in cloud computing that will also include Microsoft Corp’s role in the recent breach of government department email systems by suspected Chinese hackers, Bloomberg News reported on Thursday. The Cyber Safety Review Board (CSRB) will focus on risks to cloud computing infrastructure, including identity and authentication management, and will look at all relevant cloud service providers, the report said, citing people familiar with the matter. The report comes after Oregon Senator Ron Wyden in July asked the Federal Trade Commission, the Cybersecurity and Infrastructure Security Agency (CISA) and the Justice

August 11, 2023
Microsoft's role in data breach part of US cyber inquiry -Bloomberg News
Uncategorized

California agency approves San Francisco robotaxi expansion, a win for Cruise, Waymo

Alphabet Inc’s Waymo and General Motors’ Cruise can operate paid robotaxi services using unmanned self-driving vehicles throughout San Francisco, California state regulators voted on Thursday, in the face of vigorous pushback from city transportation, safety agencies and many residents. The vote by the California Public Utilities Commission – 3 to 1 in favor – takes effect immediately, meaning the companies now have permission to begin citywide paid taxi service throughout the city and at all hours of the day. Cruise and Waymo have been running experimental services limited by times and geographic areas. Neither

August 11, 2023
California agency approves San Francisco robotaxi expansion, a win for Cruise, Waymo
Uncategorized

Dollar steady after CPI data bolsters Fed pause bets; yen nears 145

– The dollar was steady on Friday as traders wagered that the Federal Reserve is done with rate hikes after data showed U.S. consumer prices increased moderately in July, while the yen was flirting with the psychologically key 145 level. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair

August 11, 2023
Dollar steady after CPI data bolsters Fed pause bets; yen nears 145
Uncategorized

ECB to pause in September, say slim majority of economists: Reuters poll

– The European Central Bank will pause a more than year-long rate-hiking campaign in September, according to a narrow majority of economists polled by Reuters, but a further rise by year-end is still on the cards with inflation running hot. There have been nine consecutive ECB rate rises since July 2022. But bank President Christine Lagarde began paving the way for a pause by telling a news conference after last month’s 25 basis point hike: “Do we have more ground to cover? At this point in time I wouldn’t say so.” Faced with slowing activity

August 11, 2023
ECB to pause in September, say slim majority of economists: Reuters poll
Uncategorized

Singapore downgrades GDP outlook, avoids recession

Singapore slightly cut its economic outlook for 2023 on Friday after it narrowly averted a recession in the second quarter, with weak global demand a key drag on its trade-reliant economy. Goss domestic product (GDP) expanded a seasonally-adjusted 0.1% quarter-on-quarter in April to June, slower than 0.3% growth seen in the government’s advance estimate. The first quarter contracted 0.4%. Industrial output and exports have fallen for nine straight months, raising the risk of a prolonged downturn, but a trade ministry official told a press conference a technical recession – two consecutive quarters of contraction –

August 11, 2023
Singapore downgrades GDP outlook, avoids recession
Uncategorized

Dollar steady after CPI data bolsters Fed pause bets; yen nears 145

– The dollar was steady on Friday as traders wagered that the Federal Reserve is done with rate hikes after data showed U.S. consumer prices increased moderately in July, while the yen was flirting with the psychologically key 145 level. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair

August 11, 2023
Dollar steady after CPI data bolsters Fed pause bets; yen nears 145
Uncategorized

Asia stocks slip as US CPI fails to enthuse; dollar up

– Asian stocks edged towards a weekly loss on Friday and the U.S. dollar was headed for a month of gains after U.S. inflation came in steady, without the hoped-for surprise on the downside. Soft demand at a 30-year Treasury auction and a blowout in the U.S. budget deficit last month also weighed on bonds, and their higher yields in turn pushed the dollar up – particularly against a yen pinned by yield control in Japan. The yen touched a six-week low of 144.89 per dollar in early trade on Friday, though volumes were thinned

August 11, 2023
Asia stocks slip as US CPI fails to enthuse; dollar up

Follow