Paraguay Surprises by Not Cutting Rate, Citing Fed and Oil Risks
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Paraguay's central bank kept its benchmark interest rate unchanged at 6% due to rising uncertainty about oil prices and the timing of US rate cuts. Analysts had expected a quarter-point cut. The central bank has already lowered borrowing costs by 250 basis points since the start of its easing cycle in August.
#Paraguay #CentralBank #InterestRate #OilPrices #UsRateCuts
Offshore Drilling Grows as US Shale Gets Left Behind
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American oil-services companies are pivoting overseas for growth as the US shale industry declines. International markets are experiencing a multiyear expansion in capital spending. The US has become the world's largest oil producer, but the industry's biggest contractors are seeking growth opportunities elsewhere. Offshore drilling is expanding while US shale gets left behind. American oil-services companies are looking for growth in international markets.
Offshore Drilling Grows as US Shale Gets Left Behind
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American oil-services companies are pivoting overseas for growth as the US shale industry declines. International markets are experiencing a multiyear expansion in capital spending. The US has become the world's largest oil producer, but the industry's biggest contractors are seeking growth opportunities elsewhere. Offshore drilling is expanding while US shale gets left behind. American oil-services companies are looking for growth in international markets.
US Commerce Chief Goes Prime Time Defending Industrial Policy
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The head of the US Commerce Department defends industrial policies. The Commerce Department is ranked low in the US presidential succession. Geopolitics and global economic influence are increasingly intertwined. The article is from Bloomberg and written by Brendan Murray.
How JPMorgan’s Cash Call Beat Bank of America
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During the Covid-19 pandemic, JPMorgan Chase & Co. kept extra cash in money markets or at the Fed, while Bank of America Corp. invested in bonds. JPMorgan's strategy turned out to be more lucrative as interest rates are set to fall four years later.
https://www.bloomberg.com/opinion/articles/2024-04-22/how-jpmorgan-s-cash-call-beat-bank-of-america
How JPMorgan’s Cash Call Beat Bank of America
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During the Covid-19 pandemic, JPMorgan Chase & Co. kept extra cash in money markets or at the Fed, while Bank of America Corp. invested in bonds. JPMorgan's strategy turned out to be more lucrative as interest rates are set to fall four years later.
https://www.bloomberg.com/opinion/articles/2024-04-22/how-jpmorgan-s-cash-call-beat-bank-of-america
nostr:note1650fftulfkqullhwul6qxvtc7au0xkpqh8jx2n20q5mn2st5gw4qsfkk4v
How JPMorgan’s Cash Call Beat Bank of America
==========
During the Covid-19 pandemic, JPMorgan Chase & Co. kept extra cash in money markets or at the Fed, while Bank of America Corp. invested in bonds. JPMorgan's strategy turned out to be more lucrative as interest rates are set to fall four years later.
https://www.bloomberg.com/opinion/articles/2024-04-22/how-jpmorgan-s-cash-call-beat-bank-of-america
How JPMorgan’s Cash Call Beat Bank of America
==========
During the Covid-19 pandemic, JPMorgan Chase & Co. kept extra cash in money markets or at the Fed, while Bank of America Corp. invested in bonds. JPMorgan's strategy turned out to be more lucrative as interest rates are set to fall four years later.
https://www.bloomberg.com/opinion/articles/2024-04-22/how-jpmorgan-s-cash-call-beat-bank-of-america
nostr:note1650fftulfkqullhwul6qxvtc7au0xkpqh8jx2n20q5mn2st5gw4qsfkk4v
How JPMorgan’s Cash Call Beat Bank of America
==========
During the Covid-19 pandemic, JPMorgan Chase & Co. kept extra cash in money markets or at the Fed, while Bank of America Corp. invested in bonds. JPMorgan's strategy turned out to be more lucrative as interest rates are set to fall four years later.
https://www.bloomberg.com/opinion/articles/2024-04-22/how-jpmorgan-s-cash-call-beat-bank-of-america
Global Economy Warning, Inflation Data in Focus
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Australia's treasurer, Jim Chalmers, announced that Australia will cut economic forecasts for most major economies, including China, in its upcoming budget release. Chalmers stated that uncertainty about the global outlook was a central topic of discussion during his meetings with international counterparts and central bank chiefs in Washington. Inflation data is projected to show inflation. The US House has approved funding for Ukraine, Israel, and Taiwan.
China Braces for Worst as It Becomes Punching Bag in US Election
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China's government is resisting moves that could harm its economy as it becomes a top target in the US election campaign. President Joe Biden called China "xenophobic" and threatened tariffs on Chinese steel and aluminum exports during a campaign stop in Pennsylvania. Beijing responded with restraint and is relying on the American consumer to boost its economy.
The Energy Transition Is Turning Ugly
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Biden's Green Policy is blocking solar power and global trade. The policy is intended to boost US jobs and create new supply chains but is also upsetting global trade rules. The article is written by Tobin Harshaw, a Bloomberg Opinion senior editor and columnist on national security and military affairs. The article was published on April 21, 2024, at 8:00 AM EDT.
Inter Owner Nears New Loan to Retain Control of Team, Corriere Says
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Italian football club Inter Milan is negotiating a new loan worth €400 million ($426 million) with US fund Pimco. The club's chairman, Chinese investor Steven Zhang, is looking to refinance an existing €275 million credit with Oaktree that comes due next month. The loan from Pimco would allow the team's owners to meet their financial obligations and retain control of Inter. The financing could have a duration of three years and may act as a bridge to allow a new investor into the team's capital. Inter Milan faces AC Milan on Monday with a chance to secure its second Serie A league title under the current ownership.
#InterMilan #Football #Loan #Pimco #StevenZhang #Oaktree
Trade Tensions Threaten the Rise of China’s Stock Champions
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China's most-promising industries are facing trade restrictions from Western governments, posing a threat to the nation's market growth. The sectors under scrutiny are of strategic importance to President Xi Jinping's bid for leadership in the global race toward green transition and high-tech development.
Fed’s Preferred Inflation Gauge Is Set to Back Rate-Cut Patience
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Federal Reserve officials are about to get further confirmation that inflation progress has supported what appears to be a patient approach to keep interest rates higher for longer than previously anticipated. Policymakers’ preferred inflation gauge — the personal consumption expenditures price index — probably stayed elevated in March, according to data due in the coming week.
‘Priced to Perfection’ Starts to Unravel as Debt Markets Get Jitters
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Investors have begun to yank money from high-yield funds. High-yield headed for biggest loss since September 2022. Credit investors got a dose of economic and geopolitical reality this week as hawkish comments from central bank officials about borrowing costs and tensions in the Middle East sent jitters through debt markets. The pullback was triggered in part by comments from Federal Reserve Bank of New York President, who said there’s no rush to cut interest rates and it’s possible that economic data could even warrant an increase if inflation persists.
TikTok Divest-or-Ban Bill Expected to Become US Law in Days
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The US House has passed legislation that would force TikTok's Chinese parent company, ByteDance, to divest its ownership stake in the app. The legislation, which also includes new restrictions on data brokers and authorizes the confiscation of frozen Russian assets to aid Ukraine, passed with a 360 to 58 vote. The Senate is expected to vote on the measure next week, and President Joe Biden has said he will sign the legislation. ByteDance intends to exhaust all legal challenges before considering divestiture. TikTok has argued that the legislation violates the First Amendment and has spent over $1.5 billion on data privacy efforts to address national security concerns.
#Tiktok #Bytedance #UsLegislation #DataPrivacy #NationalSecurity
What an Indian Deepfaker Tells Us About Global Election Security
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Divyendra Singh Jadoun, also known as 'The Indian Deepfaker,' is a 31-year-old digital artist who creates deepfake videos, conversational bots, personalized messages, and holograms. He is on the frontline of India's 2024 elections, using his creations to target voters and influence the electoral system. The use of deepfakes and AI in elections is a global concern, with more than 60 nations, including the European Union, holding elections this year. The lack of clear guidelines and regulations on the use of AI in elections is a major issue, as it can easily sway voters and undermine trust in the electoral system. While some governments have taken steps to regulate AI, the policing of AI often falls to individuals like Jadoun and big technology companies. The potential impact of deepfakes in elections is a critical issue, as they can be used to spread disinformation and manipulate public opinion. However, the real danger lies in the long-term damage to people's trust in the electoral process. The EU has implemented binding regulations on AI, while other countries, including the US, are still in the process of developing regulations. The role of tech companies in detecting and curbing the spread of AI-generated content is crucial, but there are concerns about the effectiveness of voluntary commitments. The global regulation of AI is a topic of debate, with opposing views on the extent of regulation and its impact on AI development. The US courts are beginning to address important questions about the use of AI under existing laws, and lawsuits against AI companies are being filed. Overall, the use of AI and deepfakes in elections poses significant challenges to election security and the integrity of the electoral process.
#Deepfakes #Ai #Elections #ElectionSecurity #India
https://www.bloomberg.com/features/2024-ai-election-security-deepfakes/
IMF Scrutinizes US Economy Instead of Going After China
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The International Monetary Fund (IMF) and World Bank spring meetings took place in Washington this week. The US delegation hoped to focus attention on China's industrial policies and pressure them to avoid dumping exports on world markets. However, the Biden administration and its policies came under scrutiny instead. Treasury Secretary Janet Yellen and colleagues were prepared to take credit for the US's growth policies that have aided the world economy. The article discusses the IMF's decision to scrutinize the US economy instead of targeting China.
#Imf #UsEconomy #China #WorldBank #SpringMeetings #JanetYellen
S&P Lifts Greece’s Outlook as Debt Falls Amid Tight Fiscal Path
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S&P Global Ratings has raised Greece's sovereign credit outlook to positive from stable, just months after the country regained investment grade status. The positive outlook reflects the expectation that the tight fiscal regime will continue to reduce the government debt ratio, while growth is expected to outperform that of Greece's euro zone peers. Greece's rating was affirmed at BBB-. The government aims to increase the budget's primary balance to 2.1% of GDP in 2024 from 1.1% in 2023 and sees the debt ratio declining to 152.3% of GDP in 2024 from 206% in 2020. Greece has also made progress with its divestment plan from the country's lenders and banks are ready to pay dividends for the first time since 2008.
#Greece #S&pGlobalRatings #SovereignCreditOutlook #DebtReduction #InvestmentGrade