‘Hoax’ book reveals extent of internal unease at Fox

'Hoax' book reveals extent of internal unease at Fox

Fox News has its critics, but the author of the new book “Hoax” on the network and its relationship with President Donald Trump says he was surprised at the level of internal unease he found there. Brian Stelter knows critics accuse Fox News of bending the truth in order to maintain its staunch support of and closeness to President Donald Trump. As CNN… 24 August 2020, 7:00am, Antwerp (Berchem), Belgium: VGP NV (‘VGP’ or ‘the Group’), the Antwerp-based European provider of high-quality logistics and… The House of Mouse is going through one of its most difficult years ever. (Bloomberg) — European stocks rallied to a one-week high and equity futures climbed on signs that the Trump administration may fast-track vaccines and treatments for coronavirus.U.S. travel stocks, including American Airlines Group Inc., United Airlines Holdings Inc. and Carnival Corp., rose in pre-market

NEW YORK – Brian Stelter knows critics accuse Fox News of bending the truth in order to maintain its staunch support of and closeness to President Donald Trump. As CNN media reporter and host of “Reliable Sources,” he’s often one of them.

He wasn’t prepared to hear the extent of concerns about the network’s direction by people who work there.

It was one of the reasons he wrote “Hoax: Donald Trump, Fox News, and the Dangerous Distortion of Truth,” which will be released Tuesday. The book shot from No. 340 to No. 1 on Amazon’s best-seller’s list following Stelter’s appearance with Rachel Maddow on MSNBC Friday.

Several people at Fox privately expressed worry to him about the growing power of prime-time opinion hosts Tucker Carlson, Sean Hannity and Laura Ingraham at the expense of Fox’s news operation, he said.

“There is a real resistance inside Fox News,” Stelter told The Associated Press. “Nobody there would use that term. But there are many people there who are uncomfortable with Sean Hannity’s lies and Tucker Carlson’s xenophobia. It’s just that they are powerless, or feel powerless, and the prime-time stars have all the power. There are Trump true believers at Fox, but there are many others who are concerned about the damage being done, and don’t feel that they can speak out publicly.”

After being presented with details of the book and phone conversations Thursday and Saturday, a Fox News representative said the network was declining comment.

While Stelter relies on insider accounts for some juicy details — including that Hannity has privately expressed doubts about Trump despite being his biggest on-air fan — much of the disturbing content in “Hoax” didn’t require any special access. He reported what has been said on the air and how it echoed or was echoed by Trump’s Twitter feed.

Stelter is particularly scathing about the response to the coronavirus epidemic: how it was minimized by both Fox and the president, how the drug hydroxychloroquine was pushed even as studies showed it wasn’t effective against the virus, and the early cheerleading for reopening society.

“It’s readily apparent that Fox failed its viewers at key moments during the pandemic,” he wrote.

“This story is about a rot at the core of our politics,” he wrote. “It’s about an ongoing attack on the very idea of a free and fair press. It’s about the difference between news and propaganda. It’s about the difference between state media and the fourth estate.”

Fox News is a money machine, and although outlets like One America News Network, NewsMax and Sinclair Broadcasting have tried, none have made a serious dent in Fox’s dominance with conservative viewers and Trump fans. New Fox CEO Suzanne Scott has been praised for her financial stewardship.

Yet, Stelter’s account gives a sense that, from an editorial standpoint, there’s no one really in control — that Hannity, Carlson, Ingraham and the “Fox & Friends” morning team can essentially do what they want. The three prime-time hosts have personally advised Trump on policy, something that would be unthinkable at other news organizations.

Stelter was surprised at internal longing for Roger Ailes, the former chief executive who was fired for sexual misconduct in 2016 and died less than a year later. No one questioned that Ailes was in charge.

“When Ailes was forced out and when he died, the channel was still being produced for an audience of one — but now it’s Donald Trump,” he said.

Stelter said concern about the network’s direction was a factor in the decisions of at least a dozen people who have left Fox News in the past four years, even if some haven’t said so publicly.

Shepard Smith broke a contract to leave early weeks after a public tiff with Carlson. Megyn Kelly was stung by Bill O’Reilly’s questioning of the “loyalty” of people like her who had made public accusations against Ailes; the loud booing she received from the audience at a Trump rally in 2016 made the consequences of questioning him clear.

Catherine Herridge, a respected Washington reporter who left for CBS, told colleagues that Fox management was “afraid of the news,” Stelter wrote. Political reporter Carl Cameron has been public about his discontent. The book discusses the exits of several others, including Jenna Lee, Abby Huntsman, Conor Powell, Clayton Morris and Ellison Barber.

Sean Graf, a researcher who started at Fox in 2016 and left earlier this year, told Stelter that “Fox’s editorial voice, and disregard for the facts, is rejected by many of those within the organization.”

As a frequent critic of Fox and employee of rival CNN, Stelter is unpopular with many conservatives, said Tim Graham, director of media analysis at the conservative watchdog Media Research Center. They are likely to regard his book with suspicion, he said.

Graham also noted the reliance on accounts from people who are not named, saying, “I do not trust anonymous sources when the author is hostile to the subject.”

But Stelter said that there is such a fear within Fox about speaking to the press — a culture that dates to Ailes and is reinforced by non-disclosure agreements — that even some people who hadn’t worked there for many years didn’t want to be identified.

“I’m just as skeptical about anonymous sources as anybody else,” he said, “but there was no other way to tell a story inside Fox News.”

While he works for CNN now, Stelter said he’s been covering Fox since starting a cable news blog as a college student through his years at The New York Times. He considers the book an extension of that reporting.

He brushes off potential attacks.

“Tucker Carlson has called me a eunuch and Sean Hannity has called me Humpty-Dumpty,” he said. “So I don’t know what else they could possibly say about me.”

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Source: www.news4jax.com

Author: David Bauder, Associated Press


New book reveals extent of internal ‘resistance’ at Fox News

New book reveals extent of internal ‘resistance’ at Fox News

NEW YORK — Brian Stelter knows critics accuse Fox News of bending the truth in order to maintain its staunch support of and closeness to President Donald Trump. As CNN media reporter and host of “Reliable Sources,” he’s often one of them.

He wasn’t prepared to hear the extent of concerns about the network’s direction by people who work there.

Several people at Fox privately expressed worry to him about the growing power of prime-time opinion hosts Tucker Carlson, Sean Hannity and Laura Ingraham at the expense of Fox’s news operation, he said.

“There is a real resistance inside Fox News,” Stelter told The Associated Press. “Nobody there would use that term. But there are many people there who are uncomfortable with Sean Hannity’s lies and Tucker Carlson’s xenophobia. It’s just that they are powerless, or feel powerless, and the prime-time stars have all the power. There are Trump true believers at Fox, but there are many others who are concerned about the damage being done, and don’t feel that they can speak out publicly.”

After being presented with details of the book and phone conversations Thursday and Saturday, a Fox News representative said the network was declining comment.

While Stelter relies on insider accounts for some juicy details — including that Hannity has privately expressed doubts about Trump despite being his biggest on-air fan — much of the disturbing content in “Hoax” didn’t require any special access. He reported what has been said on the air and how it echoed or was echoed by Trump’s Twitter feed.

Stelter is particularly scathing about the response to the coronavirus epidemic: how it was minimized by both Fox and the president, how the drug hydroxychloroquine was pushed even as studies showed it wasn’t effective against the virus, and the early cheerleading for reopening society.

“It’s readily apparent that Fox failed its viewers at key moments during the pandemic,” he wrote.

“This story is about a rot at the core of our politics,” he wrote. “It’s about an ongoing attack on the very idea of a free and fair press. It’s about the difference between news and propaganda. It’s about the difference between state media and the fourth estate.”

Fox News is a money machine, and although outlets like One America News Network, NewsMax and Sinclair Broadcasting have tried, none have made a serious dent in Fox’s dominance with conservative viewers and Trump fans. New Fox CEO Suzanne Scott has been praised for her financial stewardship.

Yet, Stelter’s account gives a sense that, from an editorial standpoint, there’s no one really in control — that Hannity, Carlson, Ingraham and the “Fox & Friends” morning team can essentially do what they want. The three prime-time hosts have personally advised Trump on policy, something that would be unthinkable at other news organizations.

Stelter was surprised at internal longing for Roger Ailes, the former chief executive who was fired for sexual misconduct in 2016 and died less than a year later. No one questioned that Ailes was in charge.

“When Ailes was forced out and when he died, the channel was still being produced for an audience of one — but now it’s Donald Trump,” he said.

Stelter said concern about the network’s direction was a factor in the decisions of at least a dozen people who have left Fox News in the past four years, even if some haven’t said so publicly.

Shepard Smith broke a contract to leave early weeks after a public tiff with Carlson. Megyn Kelly was stung by Bill O’Reilly’s questioning of the “loyalty” of people like her who had made public accusations against Ailes; the loud booing she received from the audience at a Trump rally in 2016 made the consequences of questioning him clear.

Catherine Herridge, a respected Washington reporter who left for CBS, told colleagues that Fox management was “afraid of the news,” Stelter wrote. Political reporter Carl Cameron has been public about his discontent. The book discusses the exits of several others, including Jenna Lee, Abby Huntsman, Conor Powell, Clayton Morris and Ellison Barber.

Sean Graf, a researcher who started at Fox in 2016 and left earlier this year, told Stelter that “Fox’s editorial voice, and disregard for the facts, is rejected by many of those within the organization.”

As a frequent critic of Fox and employee of rival CNN, Stelter is unpopular with many conservatives, said Tim Graham, director of media analysis at the conservative watchdog Media Research Center. They are likely to regard his book with suspicion, he said.

Graham also noted the reliance on accounts from people who are not named, saying, “I do not trust anonymous sources when the author is hostile to the subject.”

But Stelter said that there is such a fear within Fox about speaking to the press — a culture that dates to Ailes and is reinforced by non-disclosure agreements — that even some people who hadn’t worked there for many years didn’t want to be identified.

“I’m just as skeptical about anonymous sources as anybody else,” he said, “but there was no other way to tell a story inside Fox News.”

While he works for CNN now, Stelter said he’s been covering Fox since starting a cable news blog as a college student through his years at The New York Times. He considers the book an extension of that reporting.

He brushes off potential attacks.

“Tucker Carlson has called me a eunuch and Sean Hannity has called me Humpty-Dumpty,” he said. “So I don’t know what else they could possibly say about me.”

Source: www.marketwatch.com

Author: Associated Press


VGP NV: Reports Results for First Half 2020

VGP NV: Reports Results for First Half 2020

multilang-release

24 August 2020, 7:00am, Antwerp (Berchem), Belgium: VGP NV (‘VGP’ or ‘the Group’), the Antwerp-based European provider of high-quality logistics and semi-industrial real estate, today announces the results for half-year ended 30 June 2020: 

  • Operating performance resulting in a net profit of € 196.9 million
    • Result positively affected by the entering into a new 50:50 joint venture with Allianz Real Estate in respect of VGP Park München
    • € 20.1 million worth of signed and renewed lease agreements during H1 2020, bringing total annualised rental income to € 165.2 million (+6.6% YTD)1 
    • Delivered 12 projects for a total of 190,000 m2 of lettable area in first half of 2020
    • 33 projects under construction for a total of 795,000 m2 of lettable area as of 30 June 2020
    • Total portfolio value increased to €3.23 billion (+16.6%YTD)1
    • VGP invested in its future pipeline with 1.17 million m2 of new land bought and a further 1.97 million m2 committed subject to permits
  • Impact of Covid-19 remains limited so far
    • All our construction activities have resumed in full
    • The impact on rental payments is very limited: nearly all due payments were received on time with very limited rental payment reprofiling
    • Broadened partnership with Allianz through launch of third joint venture for VGP Park München
    • Balance sheet further strengthened through €200.0 million capital raising reducing gearing to 35.0% as of 30 June 2020
    • VGP’s Chief Executive Officer, Jan Van Geet, said: “Despite the challenging market environment due to the various Covid-19 lockdowns, we have achieved many new milestones during the first half of 2020.  Demand for our buildings remained strong resulting in a broad-based and mostly pre-let construction pipeline.  Furthermore, our new joint venture with Allianz in our VGP Park München has taken our cooperation to a next level and made our balance sheet stronger than ever before.”

      Jan Van Geet added: “We have acquired a couple of big trophy land plots during the period, despite fierce competition on the market, thanks to the agility of our team and our reputation. I expect these land plots to be the main driver of value creation going forward as we already register a lot of appetite for these new locations.”

      Jan Van Geet concluded: “We permanently focus on opportunities to continue to expand our portfolio pipeline; besides, we are working hard to become a major supplier of renewable energy for our tenants.”

      FINANCIAL AND OPERATING HIGHLIGHTS
      New leases signed

      • Signed and renewed rental income of € 20.1 million driven by 200,000 m² of new lease agreements signed, corresponding to € 11.4 million of new annualised rental income2
      • During the period for a total of 164,000 m² of lease agreements were renewed corresponding to € 8.8 million of annualised rental income of which 30,000 m² (€ 1.7 million) related to the own portfolio and 134,000 m² (€ 7.1 million) related to the joint ventures3. Renewed contracts within the joint ventures portfolio included various prolongations by 1-5 years.
      • Terminations represented a total of € 1.2 million or 25,000 m², all within the joint ventures’ portfolio
      • The signed annualised committed leases represent € 165.2 million4 (equivalent to 2.84 million m² of lettable area), a 6.6% increase since December 2019.

      Construction activity

      • A total of 12 projects completed delivering 190,000 m² of lettable area, representing €9.9 million of annualised committed leases (as of 24th of August 2020 this has increased to 311,000 m2 of lettable area)
      • Additional 33 projects under construction which will create 795,000 m² of future lettable area, representing €49.5 million of annualised leases once built and fully let – the portfolio under construction is 73.4% pre-let

      Implications of Covid-19

      • VGP’s business is progressing well in 2020 despite the Covid-19 pandemic. The entire VGP team has been operational throughout the crisis with full access to central systems. None of the VGP workforce has been furloughed and the Group has not taken any government support.
      • The lockdown measures implemented by governments across Europe to combat the spread of the virus resulted in widespread disruption across many sectors of the economy. In some cases, this has impacted the operations and cash flows of VGP’s customers, which has in some limited cases affected the level of rent we were able to collect from such customer.  VGP has worked constructively to support customers facing genuine cash flow challenges by offering to reschedule rental payments or reprofiling. None of our customers so far has requested to return their rented space.

      Land bank has continued to expand

      • Acquisition of 1.17 million m² of development land and a further 1.97 million m2 committed subject to permits which brings the remaining total owned and secured land bank for development to 6.89 million m², which supports 3.12 million m² of future lettable area.
      • A further 0.85 million m² of new land plots identified which are under negotiation and having a development potential of 0.41 million m² of future lettable area.

      Setup of new business line VGP Renewable Energy driving increase in photovoltaic investments

      • In July 2020, our first photovoltaic project was delivered in Nijmegen, Netherlands (1.5MWP) and further 16 photovoltaic projects are under construction for total 17.6 MWP. This is split between Germany (10.4MWP) and the Netherlands (7.2MWP).  In addition, several pipeline projects are currently being identified in Germany and Spain. As of year-end 2019 we had 16.5MWP installed on VGP’s roofs which are owned and operated by third parties.

      Expansion of partnership with Allianz Real Estate through launch of third joint venture

      • In June 2020, VGP and Allianz Real Estate entered into a new 50:50 joint venture for the development of VGP Park München.  This is the third joint venture with Allianz Real Estate.
      • The managerial and governance setup of the new partnership is similar to the first two joint ventures between the two partners with VGP serving the new joint venture as its sole asset, property and development manager. Contrary to the two existing joint ventures which concentrate on the acquisition of income-generating assets developed by VGP, this new joint venture will initially be focussed on the development of VGP Park München.
      • Once fully developed the park will consist of five logistic buildings, two stand-alone parking houses and one office building for a total gross lettable area of approx. 270,000 m2. The park is almost entirely pre-let to KraussMaffei Technologies and BMW. BMW has formally taken the decision to also move its competence centre for batteries to VGP Park München. This will result in the park being 100% pre-let. This new lease contract is currently being exchanged with BMW.
      • There are currently already 3 buildings and 2 parking houses under construction. The delivery of the first building to BMW occurred at the beginning of August 2020. The subsequent completions are scheduled to occur in November 2020 (1 parking house), 1 building (currently under negotiation) by mid-2021 with all but one of the remaining buildings being delivered by November 2022. The last building is expected to be delivered by the beginning of 2026.

      Balance sheet further strengthened through capital raising whilst two additional joint venture closings are anticipated before the end of the year

      • On 21 April 2020 VGP successfully completed an offering of new shares for a total consideration of €200.0 million by means of a private placement via an accelerated bookbuild offering to international institutional investors. 
      • In the offering a total of 2,000,000 new shares (approximately 10.8% of VGP’s outstanding shares on completion of the offering) were placed at an issue price of €100.00 per share, representing a discount of 4.58% compared to the last traded price of the Group’s share on 21 April 2020 of €104.8.
      • In line with their pre-commitments, Little Rock SA, controlled by Mr Jan Van Geet, and VM Invest NV, controlled by Mr Bart Van Malderen, have each subscribed for 33.81% and 20.16% of the new shares respectively, and received full allocations.  
      • In terms of further expansion with the joint ventures we anticipate two additional closings before the end of 2020.  The seventh closing with VGP European Logistics (first joint venture) is anticipated with a transaction value5 of >€150 million as well as the second closing with VGP European Logistics 2 (second joint venture) with a transaction value of > € 200 million
      • These steps will ensure VGP can maintain its financial purchasing power and to be able to finance the investment pipeline and to benefit from additional investment opportunities.

      KEY FINANCIAL METRICS

      CONFERENCE CALL FOR INVESTORS AND ANALYSTS

      VGP will host a conference call at 10:30 (CEST) on 24 August 2020
      The conference call will be available on:

      • Belgium: 0800 58228 (toll free) / +32 (0)2 404 0659
      • UK: 0800 358 6377 (toll free) / +44 (0)330 336 9105
      • US: 866-548-4713 (toll free) / +1 323-794-2093
      • Confirmation Code: 3420218

      A presentation is available on VGP website:
      https://www.vgpparks.eu/en/investors/publications/

      CONTACT DETAILS FOR INVESTORS AND MEDIA ENQUIRIES

      ABOUT VGP

      VGP is a leading pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a development land bank (owned or committed) of 6.89 million m² and the strategic focus is on the development of business parks. Founded in 1998 as a family-owned real estate developer in the Czech Republic, VGP with a staff of over 230 employees today owns and operates assets in 12 European countries directly and through three joint ventures with Allianz Real Estate (VGP European Logistics, VGP European Logistics 2 and VGP Park München). As of June 2020, the Gross Asset Value of VGP, including the joint ventures at 100%, amounted to €3.23 billion and the company had a Net Asset Value (EPRA NAV) of €1,079 million. VGP is listed on Euronext Brussels and on the Prague Stock Exchange (ISIN: BE0003878957).

      For more information, please visit: http://www.vgpparks.eu

      Forward-looking statements:  This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. VGP is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release considering new information, future events or otherwise. The information in this announcement does not constitute an offer to sell or an invitation to buy securities in VGP or an invitation or inducement to engage in any other investment activities.  VGP disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by VGP.

      1     Compared to 31 December 2019; inclusive of Joint Ventures at 100%

      2     Of which 160,000 m² (€ 8.3 million) related to the own portfolio

      3     Joint ventures refers to VGP European Logistics, VGP European Logistics 2 and VGP Park München,  All three 50:50 joint ventures with     Allianz Real Estate

      4     For joint venture at 100%

      5     The transaction value corresponds to purchase price (at fair market value) for the completed income generating buildings which are transferred to the respective joint venture.

      6     Calculated as Net debt / Total equity and liabilities

      Antwerp (Berchem), BELGIUM

        http://www.vgpparks.eu/

      Formats available:

      Source: www.globenewswire.com

      Author: VGP NV


      Finally, Some Good News for Disney

      Finally, Some Good News for Disney

      The coronavirus pandemic is hurting many businesses around the world. The outbreak especially affects Walt Disney (NYSE:DIS) due to the physical nature of its operations: Cruises, theme parks, and movie theaters rely on bringing together large groups of people. Because of this, the company is experiencing significant decreases in revenue from those operations. 

      Even though some of its theme parks have reopened, the customer response has not been as enthusiastic as the company was expecting. Additionally, Disney delayed the release of the potential blockbuster film Mulan several times, before eventually deciding to make the movie available directly to its streaming subscribers on Disney+ for a fee. Overall, the restarts of operations that were shut down are not going as well as expected. However, there was one exception, finally providing some good news. 

      A man celebrating while watching his favorite NBA team on ESPN.

      The NBA playoffs started Aug. 17. Image source: Getty images.

      The National Basketball Association first suspended its season in March, after Rudy Gobert of the Utah Jazz tested positive for the coronavirus. Ad revenue for the league was up more than 12% from the same time the previous year (to $249 million) before the season was suspended.

      At that time, it was uncertain if the league would cancel the season altogether or pause for a while and restart at a safer date. Fortunately, the NBA was able to safely restart its season on July 30.

      Disney’s ESPN and ABC networks have the rights to broadcast NBA games and generate significant ad revenue from those broadcasts. Given the surging demand for in-home entertainment, it would not be surprising if the games in the restart are fetching strong demand from marketers. 

      The restart of the season drew a surge in viewership. In the first 12 days after play resumed, more than 47 million people tuned in, which was 49% higher than the 32 million that tuned in during the first 12 days of the season. If that is any indication of how popular the NBA playoffs will be, it’s great news for Disney’s ESPN and ABC. The two networks will combine to air up to 44 playoff games, including exclusive rights to the Eastern Conference Finals for ESPN and the NBA Finals for ABC. It will be interesting to observe if the increase in viewership will outweigh the decreases in marketing budgets as a result of COVID-19.

      Importantly, the NBA Finals alone brought in $288 million in advertising revenue in 2019. In contrast, the Super Bowl drew $336 million in 2019. The highest mark the NBA has brought in ad revenue for the finals over the last five years was $366 million.  

      Additionally, the NBA agreed to host all of its games at the Disney World resort in Orlando. The league is reportedly paying Disney $1.5 million per day for the privilege. That will amount to almost $150 million to host the 22 teams for eight regular-season games and the playoffs.

      Overall, the NBA continuing its season and playing all the way through to declare a champion is likely to bring in at least $400 million in revenue for Disney. Notably, the playoffs are not complete, and the risk of a COVID-19 outbreak that leads to another pause is ever-present. However, the restarted season is finally some good news for Disney’s stock. 

      Source: www.fool.com

      Author: Parkev Tatevosian


      Stocks Rally on Vaccine Hopes; Copper Gains: Markets Wrap

      Stocks Rally on Vaccine Hopes; Copper Gains: Markets Wrap

      Stocks Rally on Vaccine Hopes; Copper Gains: Markets Wrap

      (Bloomberg) — European stocks rallied to a one-week high and equity futures climbed on signs that the Trump administration may fast-track vaccines and treatments for coronavirus.

      U.S. travel stocks, including American Airlines Group Inc., United Airlines Holdings Inc. and Carnival Corp., rose in pre-market trading. Telecom carrier BT Group jumped after Sky News reported that the board is on alert for takeover approaches. Gold shrugged off its earlier losses to climb with copper and oil, while the dollar weakened.

      Market sentiment was supported by news over the weekend that the U.S. Food and Drug Administration is working to expand access to a virus treatment involving blood plasma from recovered patients. Separately, the Financial Times reported that the Trump administration is considering whether to bypass regulatory standards to accelerate an experimental vaccine.

      Asian stocks got a boost after a report that White House officials have reassured American businesses that a ban on its WeChat app won’t be as broad as feared. WeChat owner Tencent Holdings Ltd. jumped the most in a month, gaining $37 billion.

      Investors will be focused this week on the Federal Reserve’s annual Economic Policy Symposium — typically held in Jackson Hole, Wyoming. Taking place on Aug. 27-28 via livestream, Chair Jerome Powell is scheduled to speak on Thursday about the Fed’s long-awaited monetary policy framework review, which has focused on a new inflation strategy.

      “We’re hoping to get some sort of hints as to where their fundamental view is going and there’s a lot of expectations around that,” said Marvin Barth, global head of foreign exchange and emerging markets macro strategy at Barclays Plc.

      ‘Past Peak Central Banking’ on View as Jackson Hole Goes Virtual

      Meanwhile, storms Marco and Laura are rolling toward the U.S. Gulf Coast, where they’ll come ashore as hurricanes as soon as Monday. Almost 58% of crude output in the U.S. Gulf of Mexico production has been shut down as the threat prompted evacuations of off-shore energy platforms and set residents and officials on edge from Texas to Florida.

      New Zealand’s dollar fell against most peers as a flare-up of Covid-19 infections prompted an extended lockdown in Auckland, fueling speculation the Reserve Bank may ease policy further by next year.

      Here are some key events coming up:

      Earnings from companies including, ICBC, PetroChina, HP Inc., Royal Bank of Canada, Best Buy and Dollar General.The U.S. Republican National Convention takes place, with President Donald Trump speaking the final day, Aug. 27.The Bank of Korea sets monetary policy and will hold a briefing on Thursday.Fed Chair Jerome Powell speaks at event on Thursday.

      These are the main moves in markets:

      Stocks

      Futures on the S&P 500 Index jumped 0.9% as of 11:41 a.m. London time.The Stoxx Europe 600 Index surged 1.8%.The MSCI Asia Pacific Index jumped 0.9%.The MSCI Emerging Market Index surged 1.2%.

      Currencies

      The Bloomberg Dollar Spot Index fell 0.3%.The euro jumped 0.3% to $1.1834.The British pound gained 0.3% to $1.3123.The Japanese yen strengthened 0.1% to 105.73 per dollar.The offshore yuan strengthened 0.2% to 6.9053 per dollar.

      Bonds

      The yield on 10-year Treasuries gained one basis point to 0.64%.The yield on two-year Treasuries gained less than one basis point to 0.15%.Germany’s 10-year yield jumped two basis points to -0.49%.Britain’s 10-year yield climbed less than one basis point to 0.209%.Japan’s 10-year yield declined one basis point to 0.027%.

      Commodities

      West Texas Intermediate crude rose 0.9% to $42.65 a barrel.Brent crude jumped 0.9% to $44.67 a barrel.Gold strengthened 0.5% to $1,950.23 an ounce.

      For more articles like this, please visit us at bloomberg.com

      Subscribe now to stay ahead with the most trusted business news source.

      ©2020 Bloomberg L.P.

      Source: finance.yahoo.com

      Author: Adam Haigh and Olivia Konotey-Ahulu


      'Hoax' book reveals extent of internal unease at Fox


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