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Keywords: RFP; AGR; ALLTOP; BASIC; BLD; BUSINESS; CMD; COS; INDUSTRIES; MARKETS; TOP; WWTOP; WWTOPAM EN RFP AGR ALLTOP BASIC BLD BUSINESS CMD COS INDUSTRIES MARKETS TOP WWTOP WWTOPAM Company cites financial losses, "production upsets" R47VMHDWRGG3 (Bloomberg) -- Resolute Forest Products Inc. said it will idle its pulp and paper operations at a Tennessee mill because of "significant financial losses", the latest in a series of production shutdowns in the industry that has dented supplies across North America. "The company continues to accumulate significant financial losses at the mill, even with the current strong market conditions for both the pulp and uncoated freesheet paper it manufactures", according to the statement. [Extracted from the article]

In his keynote speech, Federal Reserve Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his Fed colleagues that rates must become restrictive until prices begin to cool. Bullard Says Rates Working With Shorter Lags (9:40 a.m.) The Federal Reserve's rate hikes are working at shorter lags than in the past, said St. Louis Fed President James Bullard. Keywords: ALLTOP; BON; BUSINESS; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; REL; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP BON BUSINESS COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM REL TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU RH88WMT1UM0X (Bloomberg) -- The number of hours worked per employee is at least as important a data point for policy makers as the employment rate, because it's a barometer of who's entering the workforce, according to a research paper presented to policy makers at Jackson Hole. [Extracted from the article]

Keywords: ALLTOP; BON; BUSINESS; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; REL; US; WORLD; WWTOP EN ALLTOP BON BUSINESS COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM REL US WORLD WWTOP RH88WMT1UM0X The findings in the paper are relevant for central banks as they project labor-market dynamics into the future when assessing and implementing policy, the authors said. In his keynote speech, Federal Reserve Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his Fed colleagues that rates must become restrictive until prices begin to cool. Bullard Says Rates Working With Shorter Lags (9:40 a.m.) The Federal Reserve's rate hikes are working at shorter lags than in the past, said St. Louis Fed President James Bullard. [Extracted from the article]

%USD, ALLTOP, BUSINESS, FRX, GLOBALMACR, GOV, MARKETS, NORTHAM, TOP, US, WORLD, GOVTOP RH8O1MT0G1KZ (Bloomberg) -- The Federal Reserve won't be able to curb inflationary pressures because they are rooted in expansionary fiscal policy, according to a paper presented at the central bank's annual Jackson Hole conference on Saturday. Keywords: %USD; ALLTOP; BUSINESS; FRX; GLOBALMACR; GOV; GOVTOP; MARKETS; NORTHAM; TOP; US; WORLD EN %USD ALLTOP BUSINESS FRX GLOBALMACR GOV GOVTOP MARKETS NORTHAM TOP US WORLD The Federal Reserve won't be able to curb inflationary pressures because they are rooted in expansionary fiscal policy, according to a paper presented at the central bank's annual Jackson Hole conference on Saturday. [Extracted from the article]

R0ZEX2DWLU6D (Bloomberg) -- The Federal Reserve took a key step toward the possible issuance of a U.S. digital currency, a move that the central bank said could dramatically alter the American financial system. Keywords: %USD; ALLTOP; BNK; BON; BUSINESS; COS; FIN; FRX; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPEU EN %USD ALLTOP BNK BON BUSINESS COS FIN FRX GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM TEC TECSVC TOP US WORLD WWTOP WWTOPAM WWTOPEU The Federal Reserve took a key step toward the possible issuance of a U.S. digital currency, a move that the central bank said could dramatically alter the American financial system. %USD, ALLTOP, BNK, BON, BUSINESS, COS, FIN, FRX, GLOBALMACR, GOV, INDUSTRIES, MARKETS, NORTHAM, TEC, TECSVC, TOP, US, WORLD, WWTOP, WWTOPAM, WWTOPEU. [Extracted from the article]

Keywords: ENR@GR; GAZP@RM; SIE@GR; ALLTOP; BUSINESS; CANADA; CMD; COS; CST; ELQ; EUROPE; EURTOP; GER; INDUSTRIAL; INDUSTRIES; MAC; MARKETS; NORTHAM; NRG; NRGTOP; OIL; RUSSIA; WORLD; WWTOP; WWTOPEU EN ENR@GR GAZP@RM SIE@GR ALLTOP BUSINESS CANADA CMD COS CST ELQ EUROPE EURTOP GER INDUSTRIAL INDUSTRIES MAC MARKETS NORTHAM NRG NRGTOP OIL RUSSIA WORLD WWTOP WWTOPEU (Bloomberg) - Gazprom PJSC requested Siemens for documents that will allow the return of a gas turbine crucial for Nord Stream pipeline after its maintenance in Canada. Canada issued a permit to export the sanctioned equipment to Germany, with the measure also extending to other Nord Stream turbines that will need maintenance in Canada. [Extracted from the article]

SBI Pension Funds Pvt., which manages $50 billion in assets, is considering investing in corporate and state debt due to the narrowing spreads on longer-maturity Indian government bonds. The fund's chief investment officer, Sandeep Pandey, expressed concern that the lack of term premium for longer-dated securities could impact returns for subscribers. Demand for longer-tenor papers has increased, leading to a compression in the spread between 10-year and 30-year bonds. The fund currently holds a portfolio of about one trillion rupees in corporate paper and 2.5 trillion rupees in sovereign and state debt. [Extracted from the article]

Keywords: PBCZ@CH; ALLTOP; ASIA; ASIATOP; BUSINESS; CHINA; CORONAVIR; ECOTOP; FRX; GLOBALMACR; GOV; MARKETS; TOP; WORLD; WWTOP; WWTOPAS; WWTOPEU EN PBCZ@CH ALLTOP ASIA ASIATOP BUSINESS CHINA CORONAVIR ECOTOP FRX GLOBALMACR GOV MARKETS TOP WORLD WWTOP WWTOPAS WWTOPEU China needs to roll out more stimulus to boost economic growth as the recovery isn't solid and its momentum showed signs of slowing, according to Financial News, a newspaper backed by the central bank. PBCZ@CH, ALLTOP, ASIA, ASIATOP, BUSINESS, CHINA, CORONAVIR, ECOTOP, FRX, GLOBALMACR, GOV, MARKETS, TOP, WORLD, WWTOP, WWTOPAS, WWTOPEU. [Extracted from the article]

Keywords: %USD; AFRICA; ALLTOP; BASIC; BUSINESS; CMD; COS; FRX; GOV; GOVTOP; INDUSTRIES; MARKETS; METMNG; NORTHAM; US; WORLD EN %USD AFRICA ALLTOP BASIC BUSINESS CMD COS FRX GOV GOVTOP INDUSTRIES MARKETS METMNG NORTHAM US WORLD Zimbabwe's central bank plans to sell gold coins to the public from July 25 as a store of value to stabilize the nation's tumbling currency and offer an alternative to the US dollar. The coin forms part of measures to deal with a currency crisis that's seen the annual inflation rate jump to 192% in June and a sharp depreciation in the Zimbabwean dollar, which has lost more than two-thirds of its value against the dollar this year. [Extracted from the article]

Keywords: 0247409Z; DENN; SBUX; ALLTOP; BUSINESS; CMD; CONS; CONSD; CONSS; CORONAVIR; COS; DRG; HEA; INDUSTRIES; LIFESTYLE; MARKETS; NORTHAM; RET; TOP; US; WORLD; WWTOP; WWTOPAM EN 0247409Z DENN SBUX ALLTOP BUSINESS CMD CONS CONSD CONSS CORONAVIR COS DRG HEA INDUSTRIES LIFESTYLE MARKETS NORTHAM RET TOP US WORLD WWTOP WWTOPAM (Bloomberg) -- Starbucks Corp. is instructing employees to use the three-ply medical-grade masks it provides instead of cloth facial coverings, changing its prior guidance amid a wave of omicron infections. Seattle-based Starbucks, which renewed calls for employees to get booster shots, altered its self-isolation policy as well. [Extracted from the article]

R5YV2TT0AFB5 (Bloomberg) -- Starbucks Corp. is dropping a plan to require coronavirus vaccinations of its U.S. workers, reversing a stance it set out weeks ago. Keywords: 0247409Z; DENN; SBUX; ALLTOP; BUSINESS; CMD; CONS; CONSD; CONSS; CORONAVIR; COS; DRG; HEA; INDUSTRIES; LIFESTYLE; MARKETS; NORTHAM; RET; US; WORLD; WWTOP EN 0247409Z DENN SBUX ALLTOP BUSINESS CMD CONS CONSD CONSS CORONAVIR COS DRG HEA INDUSTRIES LIFESTYLE MARKETS NORTHAM RET US WORLD WWTOP (Bloomberg) -- Starbucks Corp. is dropping a plan to require coronavirus vaccinations of its U.S. workers, reversing a stance it set out weeks ago. [Extracted from the article]

Poland, which relies predominantly on coal for electricity production, did not find support for its demand to be allowed a temporary opt-out from the the EU's ETS. Keywords: 0629846DBB; 223727Z@FP; BUSINESS; CLIMATE; CMD; COS; ELC; EUROPE; FIN; FRA; GEN; GER; GOV; INDUSTRIES; MARKETS; NRG; POL; UTI; WORLD EN 0629846DBB 223727Z@FP BUSINESS CLIMATE CMD COS ELC EUROPE FIN FRA GEN GER GOV INDUSTRIES MARKETS NRG POL UTI WORLD European Union leaders failed to reach a deal on how to react to the unprecedented gas crisis that sent energy prices to record levels after Poland and the Czech Republic demanded stronger action to cap the costs of pollution. [Extracted from the article]

Keywords: 0629846DBB; 223727Z@FP; BUSINESS; CLIMATE; CMD; COS; ELC; EUROPE; FIN; FRA; GEN; GER; GOV; INDUSTRIES; MARKETS; NRG; POL; UTI; WORLD EN 0629846DBB 223727Z@FP BUSINESS CLIMATE CMD COS ELC EUROPE FIN FRA GEN GER GOV INDUSTRIES MARKETS NRG POL UTI WORLD European Union leaders failed to reach a deal on how to react to the unprecedented gas crisis that sent energy prices to record levels after Poland and the Czech Republic demanded stronger action to cap the costs of pollution. The EU emissions cap-and-trade program imposes decreasing pollution limits on more than 11,000 installations owned by manufacturers, power generators and airlines. [Extracted from the article]

Donald Trump's media startup, Trump Media & Technology Group, is set to go public through a deal with Digital World Acquisition Corp (DWAC), a special purpose acquisition company (SPAC). If approved, the deal will make several insiders, including management, sponsors, and former associates, wealthy on paper. DWAC's stock has seen a significant gain this year, leaving room for further equity-based rewards. Trump himself stands to reap billions of dollars from the deal. However, there are challenges, including a lock-up period and the company's struggle to generate profit. [Extracted from the article]

Prices closed at 51.23 yuan a metric ton at the end of trading Friday, with 4.1 million tons of trades conducted, according to the official WeChat account of the carbon market. Keywords: 386@HK; 836@HK; 857@HK; VRSK; ALTNRG; ASIA; BASIC; BUSINESS; CHINA; CHM; CLIMATE; CMD; COS; ELC; EUROPE; GOV; HK; INDUSTRIES; MARKETS; NRG; OIL; UTI; WORLD EN 386@HK 836@HK 857@HK VRSK ALTNRG ASIA BASIC BUSINESS CHINA CHM CLIMATE CMD COS ELC EUROPE GOV HK INDUSTRIES MARKETS NRG OIL UTI WORLD China's national carbon market opened with a flurry of trades that sent prices surging, yet it'll be years before the system helps the top polluting nation curb its emissions. [Extracted from the article]

Keywords: 386@HK; 836@HK; 857@HK; VRSK; ALTNRG; ASIA; BASIC; BUSINESS; CHINA; CHM; CLIMATE; CMD; COS; ELC; EUROPE; GOV; HK; INDUSTRIES; MARKETS; NRG; OIL; UTI; WORLD EN 386@HK 836@HK 857@HK VRSK ALTNRG ASIA BASIC BUSINESS CHINA CHM CLIMATE CMD COS ELC EUROPE GOV HK INDUSTRIES MARKETS NRG OIL UTI WORLD China's national carbon market opened with a flurry of trades that sent prices surging, yet it'll be years before the system helps the top polluting nation curb its emissions. Prices closed at 51.23 yuan a metric ton at the end of trading Friday, with 4.1 million tons of trades conducted, according to the official WeChat account of the carbon market. [Extracted from the article]

The decision to prioritize a carbon market over more stringent targets for industrial polluters reflects China's efforts to balance climate ambitions and growth. Keywords: 386@HK; 836@HK; 857@HK; VRSK; ALTNRG; ASIA; BASIC; BUSINESS; CHINA; CHM; CLIMATE; CMD; COS; ELC; EUROPE; GOV; HK; INDUSTRIES; MARKETS; NRG; OIL; UTI; WORLD EN 386@HK 836@HK 857@HK VRSK ALTNRG ASIA BASIC BUSINESS CHINA CHM CLIMATE CMD COS ELC EUROPE GOV HK INDUSTRIES MARKETS NRG OIL UTI WORLD China's national carbon market opened with a flurry of trades that sent prices surging, yet it'll be years before the system helps the top polluting nation curb its emissions. [Extracted from the article]

ALLTOP, ASIA, BUSINESS, CHINA, CMD, MARKETS, NRG, TOP, WORLD, WWTOP, WWTOPAM, WWTOPAS, WWTOPEU Keywords: ALLTOP; ASIA; BUSINESS; CHINA; CMD; MARKETS; NRG; TOP; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP ASIA BUSINESS CHINA CMD MARKETS NRG TOP WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU China's national carbon market, which will become the world's largest emissions trading system, will finally begin trading on Friday, according to people familiar with the matter. [Extracted from the article]

Keywords: 10182Z; 1710Z@SW; 3240627Z; 340949Z; 5091Z; BABA; BIDU; JD; NTES; YUMC; ALLTOP; ASIA; BUSINESS; CHINA; CONS; CONSD; COS; GOV; HAR; HK; INDUSTRIES; INTERNET; MARKETS; NORTHAM; STK; SVC; TEC; TMT; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS EN 10182Z 1710Z@SW 3240627Z 340949Z 5091Z BABA BIDU JD NTES YUMC ALLTOP ASIA BUSINESS CHINA CONS CONSD COS GOV HAR HK INDUSTRIES INTERNET MARKETS NORTHAM STK SVC TEC TMT TOP US WORLD WWTOP WWTOPAM WWTOPAS US regulators have picked companies including Alibaba Group Holding Ltd. and Netease Inc. in the first batch of inspections after reaching a deal with China to end a decades-long impasse over access to audit papers of Chinese firms listed in New York. A Deloitte spokeswoman said the firm doesn't comment on clients or on any specific company's matters. Unlike multiple state-owned firms that are voluntarily exiting New York exchanges, they're also privately controlled firms with powerful American investors. [Extracted from the article]

A Deloitte spokeswoman said the firm doesn't comment on clients or on any specific company's matters. Keywords: 10182Z; 1710Z@SW; 3240627Z; 340949Z; 5091Z; BABA; BIDU; JD; NTES; YUMC; ALLTOP; ASIA; ASIATOP; BUSINESS; CHINA; CONS; CONSD; COS; GOV; HAR; HK; INDUSTRIES; INTERNET; MARKETS; NORTHAM; STK; SVC; TEC; TMT; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS EN 10182Z 1710Z@SW 3240627Z 340949Z 5091Z BABA BIDU JD NTES YUMC ALLTOP ASIA ASIATOP BUSINESS CHINA CONS CONSD COS GOV HAR HK INDUSTRIES INTERNET MARKETS NORTHAM STK SVC TEC TMT TOP US WORLD WWTOP WWTOPAM WWTOPAS US regulators have picked companies including Alibaba Group Holding Ltd. and Netease Inc. in the first batch of inspections after reaching a deal with China to end a decades-long impasse over access to audit papers of Chinese firms listed in New York. The audit firms are summoning relevant staff back to Hong Kong, preparing top management, IT and internal control teams to greet the inspection team. [Extracted from the article]

Short sellers experienced significant losses in 2023, despite finding success in regional banks and vaccine makers. First Republic Bank and Moderna Inc. were the most profitable short wagers, earning short sellers $1.6 billion and $1.1 billion respectively. However, short sellers suffered major losses betting against technology firms, with Tesla Inc. causing the most pain with $12.2 billion in losses. Overall, short sellers ended the year with paper losses of nearly $195 billion, offsetting gains from the previous year's market rout. While short sellers faced challenges, there were also profitable short positions in various sectors. [Extracted from the article]

Issuers should be disclosing their reserves on "a daily basis", said Bill Cannon, head of ETF portfolio management at crypto asset manager Valkyrie. Keywords: %XDT; %XUC; %XUT; 0890888DID; 0899303D; 1624511D; 19963Z; ALLTOP; BON; BUSINESS; COS; ETF; EUROPE; FIN; GOV; INDUSTRIES; MARKETS; TEC; TECSVC; TOP; UK; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN %XDT %XUC %XUT 0890888DID 0899303D 1624511D 19963Z ALLTOP BON BUSINESS COS ETF EUROPE FIN GOV INDUSTRIES MARKETS TEC TECSVC TOP UK WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU As crypto's most traded tokens, stablecoins have ballooned in circulation under a relatively light-touch regulatory regime. Following its fine last year, the issuer said it planned to reduce its commercial paper holdings over time in favor of more liquid assets like US Treasury bills. [Extracted from the article]

RDJTAUT0G1KW (Bloomberg) -- Australians have built up strong liquidity buffers in recent years, reducing the threat to financial stability from a sharp rise in household debt, according to a Reserve Bank research paper. Keywords: ALLTOP; ASIA; AU; BNK; BON; BUSINESS; COS; ECOTOP; FIN; FRX; GOV; INDUSTRIES; MARKETS; REL; WORLD EN ALLTOP ASIA AU BNK BON BUSINESS COS ECOTOP FIN FRX GOV INDUSTRIES MARKETS REL WORLD Australians have built up strong liquidity buffers in recent years, reducing the threat to financial stability from a sharp rise in household debt, according to a Reserve Bank research paper. [Extracted from the article]

The Federal Reserve's battle to bring inflation under control will likely cause more harm to the US and world economy than is currently appreciated, according to a pair of papers set for presentation at a renowned economic conference this week. [ABSTRACT FROM AUTHOR]

Keywords: ALLTOP; ASIA; BUSINESS; CHINA; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; STK; SVC; US; WORLD; WWTOP EN ALLTOP ASIA BUSINESS CHINA COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM STK SVC US WORLD WWTOP RH85FRT1UM0W US shares from Chinese companies surged on Friday after regulators announced the deal to allow Public Company Accounting Oversight Board inspectors to access audit work papers and personnel. The watchdog's staff told reporters that the agreement allows for full and complete access to the audit work papers of companies in both mainland China and Hong Kong. [Extracted from the article]

Keywords: ALLTOP; ASIA; BUSINESS; CHINA; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; STK; SVC; US; WORLD; WWTOP EN ALLTOP ASIA BUSINESS CHINA COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM STK SVC US WORLD WWTOP RH8BPCT0G1KZ US shares from Chinese companies rose Friday in the immediate aftermath of the deal, which will allow Public Company Accounting Oversight Board inspectors to access audit work papers and personnel. The watchdog's staff told reporters that the agreement allows for full and complete access to the audit work papers of companies in both mainland China and Hong Kong. [Extracted from the article]

Keywords: ALLTOP; BRAZIL; BUSINESS; COS; DRG; ELECT; GEN; GOV; HEA; INDUSTRIES; LATAM; MARKETS; POL; WORLD; WWTOP EN ALLTOP BRAZIL BUSINESS COS DRG ELECT GEN GOV HEA INDUSTRIES LATAM MARKETS POL WORLD WWTOP President Jair Bolsonaro insisted that the outcome of next year's elections won't be credible after lawmakers turned down his proposal to add paper ballots to Brazil's electronic voting system, escalating political tensions 14 months ahead of the presidential vote. Following in the footsteps of former U.S. President Donald Trump, Bolsonaro has been sowing doubt about the integrity of both the country's voting system and the electoral authority. [Extracted from the article]

Canadian investors purchased a record amount of foreign securities, totaling C$29.4 billion ($21.8 billion), in December of last year. This marks the largest net outflow of purchases into foreign stocks and bonds since 1988. The surge in investment was driven by Canadian investors' demand for US large-cap technology shares and investment fund shares tracking broad US equity market indexes. Additionally, Canadian investment in non-US shares, particularly European equities, also contributed to the record. Conversely, foreigners showed less interest in Canadian equities but increased their investment in Canadian debt, particularly federal government bonds and money market paper. [Extracted from the article]

Keywords: ALLTOP; ASIA; BASIC; BUSINESS; CMD; COS; ELECT; EXE; GEN; GLOBALMACR; GOV; INDUSTRIES; IRAN; LAW; MARKETS; METMNG; MIDEAST; NORTHAM; POL; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPEU EN ALLTOP ASIA BASIC BUSINESS CMD COS ELECT EXE GEN GLOBALMACR GOV INDUSTRIES IRAN LAW MARKETS METMNG MIDEAST NORTHAM POL TOP US WORLD WWTOP WWTOPAM WWTOPEU Secret documents strewn over Donald Trump's Mar-a-Lago home revealed for the first time the highly sensitive nature of national security papers the former president was keeping. Trump criticized the FBI For displaying the documents on the floor for pictures and suggested it was done to incriminate him. Read more: Trump Records Moved Likely to Obstruct Investigation, DOJ Says Trump has denied wrongdoing but offered no credible explanation for why he had the documents or didn't return them earlier, as his lawyers claimed. [Extracted from the article]

Keywords: ALLTOP; ASIA; BASIC; BUSINESS; CMD; COS; ELECT; EXE; GEN; GENTOP; GLOBALMACR; GOV; INDUSTRIES; IRAN; LAW; MARKETS; METMNG; MIDEAST; NORTHAM; POL; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP ASIA BASIC BUSINESS CMD COS ELECT EXE GEN GENTOP GLOBALMACR GOV INDUSTRIES IRAN LAW MARKETS METMNG MIDEAST NORTHAM POL TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU Secret documents sprawled over Donald Trump's Mar-a-Lago home revealed for the first time the highly sensitive nature of national security papers the former president was keeping. Read more: Trump Records Moved Likely to Obstruct Investigation, DOJ Says Trump has denied wrongdoing but offered no credible explanation for why he had the documents or didn't return them earlier, as his lawyers claimed. [Extracted from the article]

Many central banks, including the Fed, have adopted a 2% inflation target in recent decades. Keywords: 13347Z; BSFO; ALLTOP; BON; BUSINESS; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; REL; US; WORLD; WWTOP EN 13347Z BSFO ALLTOP BON BUSINESS COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM REL US WORLD WWTOP RH8KI3T1UM10 "I think 2% inflation was too low a target. [Extracted from the article]

Keywords: 13347Z; BSFO; ALLTOP; BON; BUSINESS; COS; FIN; FRX; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; REL; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN 13347Z BSFO ALLTOP BON BUSINESS COS FIN FRX GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM REL TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU RH8JZAT0AFB5 "I want to push back on your conclusion that "running the economy hot" entails significant risks", Kashkari said to International Monetary Fund First Deputy Managing Director Gita Gopinath, who made the assertion as a panel participant. In his keynote speech Friday, Fed Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his colleagues that rates must become restrictive until prices begin to cool. Bullard Says Rates Working With Shorter Lags (9:40 a.m.) The Federal Reserve's rate hikes are working at shorter lags than in the past, said St. Louis Fed President James Bullard. [Extracted from the article]

(All times New York) Furman Says Fed Should Raise Inflation Goal (3:02 p.m.) The Fed and other central banks should consider declaring victory on their price-stability goals once inflation returns to 3%, Harvard economics professor Jason Furman said Friday during the Fed's annual conference in Jackson Hole, Wyoming. In his keynote speech Friday, Fed Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his colleagues that rates must become restrictive until prices begin to cool. Many central banks, including the Fed, have adopted a 2% inflation target in recent decades. [Extracted from the article]

The Biden administration is planning to award approximately $6.3 billion in grants to help industries reduce their carbon emissions. The grants will be given to sectors such as cement, glass, chemicals, metals, and pulp and paper, which account for a significant portion of US emissions. The funding aims to support the transition to lower-carbon technologies in these industries, which is crucial for the administration's goal of cutting greenhouse gas emissions by 50% by 2030 and achieving net-zero emissions by mid-century. The Department of Energy will be responsible for distributing the grants, and details on the projects that will receive funding are expected to be announced soon. [Extracted from the article]

Cisco Systems Inc. has made its largest diversification effort to date with the $28 billion acquisition of Splunk Inc. This move also marks a historic shift for Cisco, as it transitions to a net debt capital position in order to support growth and shareholder returns. The acquisition was funded through a combination of cash, commercial paper, and long-term debt, including $13.5 billion in bonds. Cisco plans to focus on disciplined capital allocation and investments in growth, rather than prioritizing debt reduction. The company has committed to spending $5 billion per year on share buybacks and $6.5 billion per year on dividend payments. Cisco's decision to take on debt is a departure from its previous net cash position, which it held for three decades. The company's CFO, Scott Herren, stated that the decision to reduce debt will depend on factors such as monetary policy and cash holdings. Cisco's integration of Splunk will focus on boosting revenue and the development of combined products. The acquisition will also help Cisco expand its capabilities in artificial intelligence and increase its recurring revenue. [Extracted from the article]

But the 35-page discussion paper issued Thursday on a government-backed coin, known as a central bank digital currency or CBDC, marks the Fed's most significant action yet as it seeks to dive deeper into digital assets. A Fed official said on a call with reporters that the central bank will assess next steps after the comment deadline, but didn't offer a timeline for when a digital dollar could ultimately be implemented. Keywords: %USD; ASIA; BNK; BON; BUSINESS; CHINA; COS; FIN; FRX; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; US; WORLD EN %USD ASIA BNK BON BUSINESS CHINA COS FIN FRX GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM TEC TECSVC US WORLD The Federal Reserve took a key step in weighing the creation of its own digital currency, a move it said could help ensure the U.S. dollar's dominance as the central bank grapples with fast-growing private cryptocurrencies and coins issued by other nations. [Extracted from the article]

The Fed on Thursday solicited feedback through a 35-page discussion paper on a government-backed coin, known as a central bank digital currency or CBDC. Keywords: %USD; ALLTOP; ASIA; BNK; BON; BUSINESS; CHINA; COS; FIN; FRX; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPEU EN %USD ALLTOP ASIA BNK BON BUSINESS CHINA COS FIN FRX GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM TEC TECSVC TOP US WORLD WWTOP WWTOPAM WWTOPEU The Federal Reserve took a key step toward the possible issuance of a U.S. digital currency, a move that the central bank said could dramatically alter the American financial system. R60WDEDWLU7E (Bloomberg) -- The Federal Reserve took a key step toward the possible issuance of a U.S. digital currency, a move that the central bank said could dramatically alter the American financial system. [Extracted from the article]

According to a survey by Bank of America Corp., concerns about a systemic credit event are increasing among fund managers due to issues in global property markets. About one in six respondents consider this to be the biggest risk facing markets, up from one in eleven in December. The disquiet is particularly focused on US commercial real estate and Chinese property markets. The Federal Reserve's potential interest rate cuts to alleviate pressure on real estate have been hindered by higher-than-expected inflation numbers. Smaller banks are at risk of default rates in their commercial real estate loan books, while larger banks are considered more stable. A 10% default rate on commercial real estate loans could result in $80 billion in additional bank losses, leaving over 300 smaller regional banks at risk of solvency runs. The Federal Reserve is working with lenders to address expected losses, and regulators are ensuring that loan-loss reserves and liquidity levels are sufficient. The survey found that nearly 40% of fund managers see US commercial real estate as the most likely source of a credit event, while 22% see Chinese real estate as the biggest threat. The turmoil has also affected German lenders with exposure to US commercial real estate. [Extracted from the article]

Hank Medina, a former investment banker at Deutsche Bank and Jefferies Financial Group, is the creator of the popular social media account @Litquidity, which posts viral memes mocking the financial sector. Medina, a Cornell University graduate, has gained over a million followers on Instagram and X. He has monetized his social media success by charging followers $1,000 for hour-long phone calls and has also started a venture capital firm called Litquidity Capital. In 2022, he joined Bain Capital Ventures as a scout. [Extracted from the article]

The UK committee advising on financial law has stated that pension trustees may consider climate change when making investment decisions, addressing concerns that this could be a breach of fiduciary duty. The committee emphasized that trustees are required to make careful decisions and should consider factors such as climate change that may not be reflected in market prices. While the guidance is aimed at pension funds, it is also relevant for legal advisers, investment consultants, fund managers, and insurers. The committee's findings are not legally binding, but ESG investors in the UK have welcomed the announcement and called for their incorporation into financial market regulation and monitoring. [Extracted from the article]

US Audit Watchdog Says "Time Is of the Essence" in China Talks ALLTOP, ASIA, ASIATOP, BUSINESS, CHINA, COS, FIN, GOV, INDUSTRIES, MARKETS, NORTHAM, STK, SVC, TOP, US, WORLD, WWTOP, WWTOPAM Keywords: ALLTOP; ASIA; ASIATOP; BUSINESS; CHINA; COS; FIN; GOV; INDUSTRIES; MARKETS; NORTHAM; STK; SVC; TOP; US; WORLD; WWTOP; WWTOPAM EN ALLTOP ASIA ASIATOP BUSINESS CHINA COS FIN GOV INDUSTRIES MARKETS NORTHAM STK SVC TOP US WORLD WWTOP WWTOPAM (Bloomberg) The head of the Washington regulator that's negotiating with Beijing to stave off the delisting of almost 200 Chinese companies from the American stock market is reiterating the US's tough stance. [Extracted from the article]

Keywords: 957032L; ALLTOP; ASIA; BUSINESS; CHINA; COS; FIN; GLOBALMACR; GOV; GOVTOP; INDUSTRIES; LAW; MARKETS; NORTHAM; STK; SVC; TOP; US; WORLD; WWTOP EN 957032L ALLTOP ASIA BUSINESS CHINA COS FIN GLOBALMACR GOV GOVTOP INDUSTRIES LAW MARKETS NORTHAM STK SVC TOP US WORLD WWTOP (Bloomberg) US and China officials must reach an agreement "very soon" over access to audit work papers for Chinese companies to avoid being kicked off American stock exchanges, Securities and Exchange Commission Chair Gary Gensler said Wednesday. Read more: US-China Talks on Delisting Stocks Hinge on Redacted Audits US lawmakers were originally considering legislation that would move up the audit compliance deadline to 2023, but ended up not including it in a bill to support US chipmakers that the Senate passed Wednesday. [Extracted from the article]

Keywords: ASIA; BUSINESS; CHINA; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; STK; SVC; US; WORLD EN ASIA BUSINESS CHINA COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM STK SVC US WORLD RH82C8T0AFB8 As part of the deal, China will allow Public Company Accounting Oversight Board inspectors to access audit work papers and personnel, according to statements by US and Chinese regulators on Friday. Talks between Beijing and Washington gathered pace after state-owned companies including China Life Insurance Co., PetroChina Co. and China Petroleum & Chemical Corp. said on Aug. 12 that they planned to delist from US exchanges. [Extracted from the article]

ALLTOP, ASIA, BUSINESS, CHINA, COS, FIN, GLOBALMACR, GOV, INDUSTRIES, MARKETS, NORTHAM, STK, SVC, TOP, US, WORLD, WWTOP, WWTOPAM, WWTOPAS, WWTOPEU Keywords: ALLTOP; ASIA; BUSINESS; CHINA; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; STK; SVC; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP ASIA BUSINESS CHINA COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM STK SVC TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU RH82C8T0AFB8 As part of the deal, China will allow Public Company Accounting Oversight Board inspectors to access audit work papers and personnel, according to statements by US and Chinese regulators on Friday. [Extracted from the article]

The U.K.'s Financial Conduct Authority released a consultation paper on Wednesday outlining an initial approach for how asset managers should label ESG products. Keywords: 0629846DBB; 2630281ZLN; BUSINESS; COS; EUROPE; FIN; GOV; INDUSTRIES; MARKETS; SUSTAIN; UK; WORLD EN 0629846DBB 2630281ZLN BUSINESS COS EUROPE FIN GOV INDUSTRIES MARKETS SUSTAIN UK WORLD Asset managers in the U.K. may be facing more rules dictating how to classify environmental, social and governance investments than their peers in the European Union, creating extra red tape for firms that do business in both jurisdictions. [Extracted from the article]

QWBTRST0AFB5 (Bloomberg) - China's digital yuan trial has reached 34.5 billion yuan ($5.3 billion) in transaction value as the central bank continues to outpace global peers in developing a virtual currency. Keywords: %CNH; %CNY; ALLTOP; ASIA; ASIATOP; BON; BUSINESS; CHINA; COS; FIN; FRX; GOV; INDUSTRIES; MARKETS; TEC; TECSVC; WORLD; WWTOP; WWTOPAS EN %CNH %CNY ALLTOP ASIA ASIATOP BON BUSINESS CHINA COS FIN FRX GOV INDUSTRIES MARKETS TEC TECSVC WORLD WWTOP WWTOPAS China's digital yuan trial has reached 34.5 billion yuan ($5.3 billion) in transaction value as the central bank continues to outpace global peers in developing a virtual currency. [Extracted from the article]

Furman Says Fed Should Raise Inflation Goal (3:02 p.m.) The Fed and other central banks should consider declaring victory on their price-stability goals once inflation returns to 3%, Harvard economics professor Jason Furman said Friday during the Fed's annual conference in Jackson Hole, Wyoming. In his keynote speech Friday, Fed Chair Jerome Powell warned that policy rates must rise and then stay high for some time, echoing a series of statements earlier in the day from his colleagues that rates must become restrictive until prices begin to cool. [Extracted from the article]

Keywords: ALLTOP; ASIA; BUSINESS; CHINA; COS; FIN; GLOBALMACR; GOV; INDUSTRIES; MARKETS; NORTHAM; STK; SVC; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP ASIA BUSINESS CHINA COS FIN GLOBALMACR GOV INDUSTRIES MARKETS NORTHAM STK SVC TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU RH81T2T0G1KY As part of the agreement, China will allow the Public Company Accounting Oversight Board to access audit work papers and personnel, according to statements by US and Chinese regulators on Friday. ALLTOP, ASIA, BUSINESS, CHINA, COS, FIN, GLOBALMACR, GOV, INDUSTRIES, MARKETS, NORTHAM, STK, SVC, TOP, US, WORLD, WWTOP, WWTOPAM, WWTOPAS, WWTOPEU. [Extracted from the article]