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Friday, March 29, 2024

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Financial Markets and Economy

$50 Oil for 15 Years Isn't What Scares Bank of Russia Governor (Bloomberg)

Fifteen years of oil at $50 a barrel isn’t the worst nightmare for Russian central bank Governor Elvira Nabiullina.

Eileen NaughtonGoogle just told advertisers that if they want to reach young people YouTube will need to take 24% of their TV budgets (Business Insider)

YouTube held its annual advertising industry extravaganza in London's Battersea Park last night.

It's a huge event, attended by around 1,000 people from the advertising and media industry, in which the online video company shows off its wares in the hope of securing major ad deals.

Kenyan Stocks Fall Most in 4 Years as Bank Closing Boosts Risks (Bloomberg)

Kenyan equities fell the most since August 2011 after the country’s authorities placed a second bank in two months under administration, spurring investor concern about the health of lenders in East Africa’s largest economy.

Enjoy it while it lasts, Britain — the end is nigh (Business Insider)

This is as good as it gets.

employment

M&A Surge May Shake Credit Market Dynamics Off Balance: Ballard (Bloomberg)

The robust trends in M&A activity currently being experienced on both sides of the Atlantic are beginning to spark concerns of an impending increase in debt-funding supply amid a possible deluge of new issues. Any such acceleration in primary market offerings could cloud generally buoyant global credit market dynamics, writes Bloomberg strategist Simon Ballard.

China is pulling European markets down again (Business Insider)

European markets are sharply down at the open on Wednesday, after some bad news from China.

FTSE open Oct 14

U.S. stock futures little changed as investors await earnings, retail sales (Market Watch)

U.S. stock futures were little change early Wednesday, as investors avoided big bets ahead of a flurry of earnings reports and economic data.

Charting the Markets: China Disappoints for a Second Day (Bloomberg)

There's more China data to digest, and the answer could be more central bank support for the world's second largest economy. Consumer price gains slowed in September from a year earlier, rising 1.6 percent. Producer prices sank 5.9 percent, the 43rd month of declines. Attention now turns to Monday's gross domestic product data, which is forecast to show an expansion of 6.8 percent, below the government's 7 percent target. After nine days of gains, global stocks are falling for a second session.

Domino's sales are rocketing because customers don't like to speak to humans when ordering a pizza (Business Insider)

British pizza takeaway Domino's just told investors that its full year results will be ahead of expectations.

Sales are shooting up across the whole of Europe as more and more people use its app and website to order pizza and avoid speaking on the phone.

Gold rises to fresh 3-month high, up for 4th day in a row (Market Watch)

Gold futures rose early Wednesday, stretching their winning streak to a fourth straight day and achieving a fresh three-month high.

Gold for December delivery GCZ5, -0.04%  gained $9.30, or 0.8%, to $1,174.70 an ounce, eyeing its highest settlement price in more than three months. Meanwhile, December silver SIV5, +0.71% tacked on 16 cents, or 1%, to $16.07 an ounce.

Shoprite Probed for Reckless Lending by South African Regulator (Bloomberg)

Shoprite Holdings Ltd., South Africas largest food retailer and an operator of furniture stores, is being investigated for reckless lending practices, the countrys National Credit Regulator said.

This stock-chart level keeps tripping up the tech-heavy Nasdaq (Market Watch)

One key stock index is running into trouble at a closely watched chart level, and that’s generating buzz among chart lovers.

The Nasdaq Composite COMP, -0.87%  — known as a tech-heavy and growth-oriented index — keeps tripping up in the vicinity of its 50-day moving average.

Vodafone, Burberry Shares Lead U.K. Stocks Lower for Third Day (Bloomberg)

The FTSE 100 Index slipped after Chinese inflation data indicated more weakness in the world’s second-biggest economy.

Turkish Political Nightmare Has Diminishing Shock Factor For The Lira: Analysis (Bloomberg)

Turkey’s political and security outlook remains extremely uncertain but, for a number of reasons, the lira is less reactive to negative developments now compared to the period before the June election, writes Bloomberg strategist Mark Cudmore.

Dollar drops against yen as risk-off mood persists (Market Watch)

The dollar moderately weakened against the yen and the euro in Asia trade Wednesday, as the Japanese and eurozone currencies were bought amid volatility in riskier assets.

The greenback USDJPY, -0.35%  was at ¥119.68, compared with ¥119.74 late Tuesday in New York.

Treasury Wine Cellars Profits With Diageo Deal: David Fickling (Bloomberg)

What's an alcohol seller to do when the world loses its thirst? There's no need to speculate — that's the universe that brewers, distillers and vintners have been inhabiting for a generation.

Why this ain’t no bear market, in one legendary investor’s eyes (Market Watch)

This column has been airing a lot of bear views lately, which means it’s only fitting to hear what the other side is saying, however hard it is to hear those bulls bellowing right now.

Admittedly, it’s hard to feel good about the S&P 500 when Wall Street analysts have been racing to downgrade year-end targets, and third-quarter earnings season seems to be off to a miserable-as-expected start. J.P. Morgan posted a 22% rise in profit last night, but only got there via a giant tax benefit. So the 10,000 job cuts were for what, exactly?

Malaysia Sukuk Refinancing Window Opening as Fed Wavers on Rates (Bloomberg)

Malaysias two biggest banks are predicting a pickup in the countrys Islamic bond sales as companies try to refinance debt before the Federal Reserve raises interest rates.

Copper Mine Spending Seen Sinking Below Financial-Crisis Levels (Bloomberg)

Mining investment next year will tumble to the lowest level since before the global financial crisis, giving some vindication to long-term copper bulls.

Oil prices waver as investors keep an eye on oversupply (Market Watch)

Crude-oil prices wavered in early trade Wednesday, as oversupply concerns linger ahead of the release of data on U.S. weekly inventories.

Light, sweet crude futures for delivery in November CLX5, +0.32%  were trading up 3 cents, or less than 0.1%, at $46.70 a barrel on the New York Mercantile Exchange.

Politics

Democrats said 'middle class' 11 times in debate (CNN)

When it comes to the middle class, the Democrats lead the Republicans by a score of 11 to 3.

Democrats focused on the middle class and its problems in their first debate on Tuesday night on CNN. That's a sharp contrast from the Republicans, who barely touched upon the issue. And the Democrats mentioned "income inequality" six times, while the Republicans never uttered it.

Sanders Campaign Wins Over Facebook With #DamnEmails MomentSanders Campaign Wins Over Facebook With #DamnEmails Moment (Wired)

“THIS MAY NOT be great politics,” Bernie Sanders said on stage at the Democratic debate tonight, “but I think the secretary is right. And that is that the American people are sick of hearing about your damn emails.”

In fact, the senator was right. It wasn’t great politics. It was brilliant politics. The hashtag #DamnEmails began trending on Facebook and soon became the top social moment of the night, according to the company. It was also the most retweeted Tweet of any presidential candidate during the debate, according to Twitter.

The comment earned Sanders a handshake from former Secretary of State Hillary Clinton (whose much publicized private email scandal was in question); a standing ovation from the crowd; and a groundswell of activity online, all while shutting down the email topic for the rest of the debate. In one sentence, Sanders offered Clinton a hand and gave himself a boost, and he didn’t have to attack Clinton the way the GOP candidates have to do it.

Technology

Research reveals robot flaws are key to interacting with humans (Phys)

Interactive or 'companion' robots are increasingly used to support caregivers for elderly people and for children with autism, Asperger syndrome or attachment disorder, yet by programming their behaviour to become more intelligent we could in fact be creating barriers to long-term human- relationships, the research suggests.

Toyota Targets 90% Emissions Reduction by 2050 on Fuel Cells (Bloomberg)

Toyota Motor Corp. said it’s targeting a 90 percent reduction in emissions from its new vehicles by 2050 as it seeks to build on the success of its hybrid autos.

The maker of the hydrogen-powered Mirai sedan said Wednesday it aims to deliver more than 30,000 fuel-cell vehicles annually by around 2020. The Prius seller also set a goal to reach more than 15 million cumulative deliveries of hybrids in the same span.

Health and Life Sciences

Health effects of carbs: Where do we stand? (CNN)

Bread glorious bread! It was once considered a status symbol, and has been a nutritious dietary staple for all classes for millennia.

But starting in the second half of the 1990s, bread became bad. So did the whole menu of starchy carbohydrates, such as pasta and potatoes, as well as sugary carbs including milk and cookies. Cue the Atkins Diet, and even "good for you carbs" such as fruits were off the table.

Fracking Tied to Premature Births (NY Times)

Researchers have found that living near hydraulic fracturing, or fracking, operations is associated with premature births.

Scientists studied records of 10,496 singleton births by 9,384 mothers from 2009 to 2013 in Pennsylvania where fracking is conducted. They recorded gestational time, birth weight, five-minute Apgar score and size for gestational age.

Life on the Home Planet

Dire Glimpses of What Pollution Is Doing in BangladeshDire Glimpses of What Pollution Is Doing in Bangladesh (Wired)

BANGLADESH IS DOMINATED by a vast river delta of rich, fertile and flat land no more than 40 feet above sea level. That makes it especially susceptible to climate change. Scientists estimate that rising sea levels will claim as much as 17 percent of the country by 2050, displacing as many as 18 million people.

The Quest For Greener Weed (Fast Company)

The cash crop is hogging more and more water and energy as U.S. production grows. So some pot industry insiders are taking early steps to make it more sustainable.

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