Bridgewater pushes back against Chinese ‘All Weather’ copycats

Bridgewater pushes back against Chinese ‘All Weather’ copycats

SHANGHAI/NEW YORK, Aug 8 (Reuters) – Billionaire hedge fund manager Ray Dalio’s huge popularity in China has not only drawn local investors flocking to his funds but also spawned home-grown challengers using his “All Weather” strategy and brand to try to beat him at his own game. Now, the Connecticut-based hedge fund giant he founded, … Read more

US labor market defies recession fears as job growth surges in July

Nonfarm payrolls increased 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, raising the level of employment above its pre-pandemic level and pouring … Read more

Bank of England raises rates by most since 1995 despite recession’s approach

BoE raises Bank Rate by 50 bps to 1.75% Bank warns UK economy to start shrinking in Q4 Returning inflation to target ‘absolute priority’ – Bailey BoE expects to start selling gilts stockpile from Sept Aug 4 (Reuters) – The Bank of England raised interest rates by the most in 27 years on Thursday in … Read more

Sterling falls as BoE expects recession, US futures up

Bank of England hikes rates by 50 basis points BoE expects recession throughout 2023 Fed official: 50bp hike in Sept “reasonable” Oil stabilizes after hitting six-month low Lufthansa returns to operating profit LONDON, Aug 4 (Reuters) – Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and euro … Read more

Germany’s Scholz says Russia has no reason to hold up turbine return

Turbine caught in energy standoff between West, Russia Scholz visits Siemens Energy factory where turbines are stored Says turbine ready to be sent back to Russia Kremlin: turbine documentation still lacking Kremlin: Nord Stream 2 could supply gas this year MUELHEIM AN DER RUHR, Germany, Aug 3 (Reuters) – German Chancellor Olaf Scholz on Wednesday … Read more

As the US eyes new China chip curbs, turmoil looms for the global market

Any US export block may affect global chip supply -analysts Move would hinder Samsung, SK Hynix upgrading China plants Samsung, SK Hynix together supply over 50% of global NAND chips Curbs could change where future chip plants are built -analyst SEOUL, Aug 3 (Reuters) – Export restrictions being considered by Washington to halt China’s advances … Read more

Inflation begins to strain the finances of young, low-income Americans

A shopper wearing a face mask is pictured at a Dollar Tree store in Pasadena, California, US, June 11, 2020. REUTERS/Mario Anzuoni Register now for FREE unlimited access to Reuters.com Register NEW YORK, Aug 1 (Reuters) – As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting … Read more

US considers crackdown on memory chip makers in China

WASHINGTON, Aug 1 (Reuters) – The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China’s semiconductor sector advances and protects US companies. If President Joe Biden’s … Read more

Apple forecasts faster sales growth, strong iPhone demand despite glum economy

July 28 (Reuters) – Apple Inc (AAPL.O) on Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending, helping it top Wall Street expectations and forecast faster sales growth ahead. The Silicon Valley giant’s shares rose 3.5% after hours following the release of the results. Although macroeconomic … Read more

BASF prepares more ammonia production cuts in gas supply crunch

A general view of the German chemical company, BASF Schwarzheide GmbH in Schwarzheide, Germany, December 10, 2019. REUTERS/Annegret Hilse Register now for FREE unlimited access to Reuters.com Register BASF cut ammonia output in September, now reducing it further Yara’s ammonia output across Europe is 27% below capacity SKW, Ineos say monitoring situation closely FRANKFURT, July … Read more