The game company is responsible for iconic series such as Valve half life And Web homepageToday Steam announced Deck OLED, a follow-up to its original handheld with long-lasting battery life, fast downloads, and tons of other features.
During an interview The Washington Post Commenting on the updated system, Valve product designer Greg Coomer noted how Nintendo led the way with its own ‘OLED’ handheld, noting how it made customers around the world “very happy”:
“[The Switch OLED] It definitely showed people that OLED screen reliability is generally higher. It’s a great product from Nintendo that makes tons of customers around the world very happy.”
Valve has a lot of Switch around its own offices, and while it’s not yet ready to release sales data for its handheld device, Steam Tech has been successful enough to expand the business.
The new Steam Deck OLED comes with a 7.4″ screen, which is 0.4 inches larger than the previous one and has less bezel. The weight of the system has also been reduced to around 640 grams. In contrast, the Switch OLED has a 7″ screen and Joy. -Conn assembled weight is 420 grams.
Admittedly, the Switch wasn’t the first gaming portable to use an OLED panel, but its popularity certainly helped spread the word about these bright and colorful screens. Washington Post games reporter Gene Park also shared a comparison of the Switch OLED with the Steam Tech OLED and the PlayStation Portal device.
WASHINGTON — Sen. Joe Manchin, a centrist Democrat of West Virginia, announced Thursday that he will not seek re-election next year, a highly anticipated decision that could change the battle for control of the Senate in 2024.
“After months of deliberation and long conversations with my family, I believe in my heart that I have accomplished what I set out to do for West Virginia. I have made one of the hardest decisions of my life, and I have decided that I will not run for re-election to the United States Senate, but I will travel the country. “I will talk to see if there is interest in building a movement to mobilize the middle class and bring Americans together,” Manchin said in a statement. Video report.
“To the West Virginians who put their trust in me and fought side by side to improve our state – it has been the honor of my life to serve you. Thank you,” he said.
The decision by Manchin, a former governor who was elected to the Senate in a 2010 special election, was an earthquake in the battle for the Senate majority. That’s reassuring for Republicans in the ruby-red state of West Virginia, where Manchin has defied political gravity for years by keeping the seat in his party’s hands. Donald Trump won the state by 39 points in 2020.
Chairman of the National Republican Senatorial Committee, Sen. Rep. Steve Daines, R-Mont., said in a scathing statement: “We like our odds in West Virginia.”
Both Governor Jim Justice and Representative Alex Mooney are already running for the Republican nomination.
“Senator Joe Manchin and I have always disagreed on policy and politics, but we are both lifelong West Virginians who love this state beyond belief, and I respect and thank him for his years of public service,” Judge said.
Senator Joe Manchin, DW.Va., on February 9, 2022 at the Capitol.Graeme Sloan / Sipa USA via AP File
Democrats have no viable alternative to Manchin in the state.
Senate Majority Leader Chuck Schumer, DNY, said Thursday that he was confident the party would retain control of the Senate, without mentioning Manzin.
“Senate Democrats are in a strong position and well positioned to maintain, strengthen, strengthen our majority and continue to deliver for American families.” Schumer said in a brief statement at X.
David Bergstein, a spokesman for the Democratic Senatorial Campaign Committee, said, “In addition to protecting our battle-tested incumbents, we’ve already expanded the battleground map to Texas and Florida, where strong Democratic candidates are upending unpopular Republican incumbents and the DSCC has been the bedrock of our campaigns’ victories. Making investments to set up.
Democrats have had a love-hate relationship with Manchin, who has often been a thorn in President Joe Biden’s priorities and forced him to scale back his ambitious domestic agenda.
Recommended
But Manchin is also the linchpin of the 50-50 Democratic Senate in 2021 and 2022. Without his seat, Republican Chairman Mitch McConnell, R-Ky. They would have run that room, not Schumer. Manchin also cast critical votes to implement many of Biden’s policy successes, including the American Recovery Plan, the Anti-Inflation Act, and several new federal judges.
On Thursday, Biden highlighted his work with Manchin, saying that “Joe and I worked together to get things done for hard-working families.”
“Joe, Gayle and the entire Munchin family should be proud of the senator’s service to West Virginia and our country,” Biden said in a statement. “I look forward to working together to make things happen for the American people.”
As for Manchin’s future, a source with direct knowledge of his plans said: “No specific decisions have been made other than a commitment to find a way to change the political conversation in the country.”
Asked if Manchin was considering a run for president — including as a Democratic, independent or unlabeled candidate — the source replied, “Nothing is off the table.”
Following Manchin’s announcement, Sen. Rep. Tim Kaine, D-Va., told reporters, “I miss him. We’re friends.”
Kaine said he encouraged Manchin to run for another Senate term.
Asked if he thought Manchin would run for president, Kaine said, “No, not at all.”
Sahil Kapoor is a senior national political correspondent for NBC News.
Julie Sirkin is a reporter covering Capitol Hill.
Kate Santaliz, Frank Thorp V and Megan Lebowitz contributed.
DOHA, Nov 9 (Reuters) – CIA and Mossad chiefs met Qatar’s prime minister on Thursday in Doha to discuss the parameters of a deal to release hostages and end the Hamas-Israeli fighting in the Gaza Strip. The crowd told Reuters.
The outcome of the negotiations is unclear.
Qatar, home to many Hamas political leaders, has been leading efforts to mediate between Hamas and Israeli authorities to secure the release of hostages held by Hamas militants when Hamas militants entered Israel and killed 1,400 people.
Israel has since launched a relentless bombardment of Hamas-ruled Gaza and launched an armored offensive on the enclave late last month, where more than 10,000 people have been killed, 40% of them children, according to Palestinian officials.
Israel’s Mossad intelligence chief David Barnia, CIA director William Burns and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani held the meeting after meeting with Hamas political office officials on Wednesday night to discuss the possibility of a deal.
The advantage of a tripartite meeting is that it brings all three parties together at the same table at the same time to speed up the process.
The talks also included discussion of allowing humanitarian fuel imports into Gaza, which Israel has so far refused.
A source told Reuters on Wednesday that talks had touched on the release of 10-15 hostages in exchange for a one- to two-day humanitarian pause in the war ravaging Gaza.
Qatar’s Emir Sheikh Tamim bin Hamad Al Thani arrived in the United Arab Emirates capital Abu Dhabi later Thursday, where he met with Emirati President Sheikh Mohammed bin Zayed Al Nahyan, according to a statement from the Emiri Diwan.
Sheikh Tamim, Prime Minister of Qatar was present.
The purpose of the visit was not immediately clear. Unlike Qatar, the UAE has maintained diplomatic ties with Israel since a US-brokered normalization deal in 2020.
Report by Andrew Mills; Written by Maha El Dahan; Editing by Toby Chopra and Mark Heinrich
Sony posted a 29% drop in operating profit in its second quarter, hit by weakness in its imaging sensor business.
PlayStation DualSense controller and PlayStation 5 console.
Jakub Borzicki | NoorPhoto | Good pictures
Japanese electronics giant Sony on Thursday reported a 29% drop in operating profit for the fiscal second quarter, hit by weakness in its imaging sensor – or chip – business..
Here’s how Sony performed in the September quarter against LSEG consensus estimates:
Revenue: 2.8 trillion yen ($18.5 billion) vs. 2.87 trillion yen expected. This represents an increase of 8% per annum.
Operating profit: 263 billion Japanese yen versus 304.4 billion yen expected. This represents a year-on-year decline of 29%.
Sony attributed the significant drop in profit to weakness in its imaging sensor business and lower profits in its financial services and entertainment, technology and services businesses.
The company said profits in its chip division fell more than 28% in the fiscal second quarter.
Sony supplies camera chips to consumer technology manufacturers like Apple, which use semiconductors in its iPhones.
Despite the decline in profits, the company raised its sales forecast for the full year, expecting total sales of 12.4 trillion yen (previous forecast 12.2 trillion yen) as it now benefits from positive foreign exchange rates.
The Japanese yen has weakened significantly against the dollar, and Sony generates most of its revenue outside the US.
Thursday’s results followed a fiscal first quarter in which Sony reported a 33% year-over-year rise in revenue to 3 trillion Japanese yen, but a 31% year-over-year profit drop to 253 billion yen. At the time the company cited weakness in its financial services and films divisions, which saw a slight decline on the back of strikes by the Writers Guild of America and other unions against the use of artificial intelligence to develop movie scripts.
This is a developing story and will be updated soon.
The SAG-AFTRA negotiating team is meeting to discuss the studio’s latest offer, a conversation that could lead to a final union-side vote on the deal.
Following its discussion since Tuesday night on the Alliance of Motion Picture and Television Producers’ latest proposal, the negotiating team met around 11 a.m. Wednesday, a union source said, and the group voted at that time on the shape of the final package, which the group will send to AMPTP President Carole Lombardini for management to sign off on. Must see. The source added that there would be a final adjustment by the union on the approval of Generative AI to send to AMPTP, which would not be a deal breaker.
A separate union side says that after the negotiating body — a group of 17 voting members and 17 non-disabled members who work on a general consensus basis — compiles the final vote on the deal, it will announce to members whether they support it. Evidence.
Several sources expressed hope that a final vote and agreement could take place on Wednesday. SAG leadership expects the negotiating team to vote unanimously to support the agreement reached with AMPTP, according to multiple sources with knowledge of the negotiations.
The negotiating team spent 10 hours on Tuesday talking about the companies’ latest deal, and the team reported to members that night. “We appreciate your patience and support as we complete our work,” they said.
Warner Bros. Discovery CEO David Zaslau called the studio offer “final and final” on an earnings call Tuesday and said it “met all of the union’s goals.” He added, “We recognize that our creative partners need to feel valued and rewarded, and we look forward to getting back to the business of telling great stories on both sides.” Meanwhile, in a CNBC interview the same day, Disney CEO Bob Iger said he was “hopeful” that a deal for the actors would be found soon. He added of the 2024 film slate, “Obviously, we want to try to secure summer movies, the whole industry is focused on that, and we don’t have a lot of time to do that.”
But the negotiating team’s vote is only one step in a larger process. As stated therein SAG-AFTRA ConstitutionAll national multi-employer collective bargaining agreements — such as the TV/Theatrical deal — must be approved by the union’s national board and ratified by its members.
Kim Masters and Rebecca Keegan contributed reporting.
[1/5]Ivanka Trump, daughter of former U.S. President Donald Trump, attends a Trump Organization civil fraud hearing in New York State Supreme Court on November 8, 2023 in Manhattan, New York City, U.S. REUTERS/Shannon Stapleton Get license rights
Nov 8 (Reuters) – Donald Trump’s daughter Ivanka Trump testified in a Manhattan court on Wednesday in a civil fraud trial that exposed the inner workings of the former U.S. president’s business empire and threatened to take away her prized New York. Properties.
Ivanka Trump’s appearance follows testimony from her two-year-old brothers and Trump, who is leading the race for the 2024 Republican presidential nomination despite a whirlwind of legal troubles. Unlike her siblings and father, she is not a defendant in the case.
While serving as a top executive at the company from 2011 to 2017, Ivanka said she focused on redeveloping the Doral golf course in Florida and an old post office property in Washington. procedures but not as an expert.
The suit by New York Attorney General Letitia James, a Democrat, alleges that Trump and his family businesses manipulated real estate values to defraud lenders and insurers and embellished Trump’s reputation as a successful businessman.
Judge Arthur Engoron has already ruled that the conduct amounts to fraud and is now considering what penalties could be imposed.
Trump denied wrongdoing and accused James and Engoran of political bias and “election interference.” He repeated those claims on social media late Tuesday, calling it “sad!” that Ivanka is being coerced into testifying.
During confrontational and rambling testimony on Monday, Trump acknowledged that valuations for his properties were not always accurate, but said those errors did not apply to the financial institutions that used them to price contracts.
His sons Donald Jr. and Eric Trump testified last week that the financial documents at the center of the case were not their responsibility, although emails and other documents show they may have been more involved than their testimony.
A state appeals court removed Ivanka as a defendant in June, saying she did not engage in any conduct that James could sue.
Unlike her brothers, she did not oversee the Trump Organization during her father’s 2017-2021 term in the White House.
However, James said Ivanka was involved in manipulating property values.
“He will try to distance himself from the organization today, but unfortunately the facts will reveal that he was very involved,” James said on the court steps.
In a ruling that found Trump, his adult sons and 10 of his companies liable for fraud, Engoron described in stark terms how the defendants made the assessments. His ruling could remove control of some of Trump’s most famous properties, though that order has been stayed on appeal.
James is also seeking $250 million in fines and restrictions barring Trump and his adult sons from doing business in New York.
In addition to this case, Trump is a defendant in four separate criminal cases, including two stemming from his efforts to thwart Democrat Joe Biden’s 2020 presidential victory.
Nevertheless, polls show him leading Republican rivals to face Biden next year.
Reported by Jack Quinn in New York; By Andy Sullivan; Editing by Grant McCool and Daniel Wallis
The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., on November 22, 2019. Picture taken on November 22, 2019. REUTERS/Angus Mordant/File Photo Get license rights
API Shows Huge Build in US Crude Stockpiles – Sources
OPEC Export Estimates Remain High – Goldman Sachs
Extends China’s Export Decline
Nov 8 (Reuters) – Oil prices struggled on Wednesday after hitting more than three-month lows in the previous session, as concerns eased over slowing demand in the world’s top oil consumers, the United States and China.
Brent crude futures were up 15 cents at $81.76 a barrel by 0636 GMT, while U.S. crude futures were down 2 cents at $77.35 a barrel. Both fell to their lowest levels since July 24 on Tuesday.
“The market is clearly unconcerned about the potential for Middle East supply disruptions and is instead focused on easing the balance,” ING Bank analysts Warren Patterson and Eva Manthei said in a note to clients. Tight oil supply conditions.
U.S. crude stocks rose nearly 12 million barrels last week, market sources said late on Tuesday, citing U.S. Petroleum Institute data.
The US Energy Information Administration (EIA) will delay the release of weekly inventory data until the week of November 13.
U.S. crude oil production will rise slightly less than previously expected this year, while demand will slow, the EIA said Tuesday.
The EIA now expects total petroleum consumption in the country to fall by 300,000 bpd this year, reversing its previous forecast of a 100,000 bpd increase.
The firm also predicts that Venezuela’s crude oil production will increase by 200,000 barrels per day (bpd) by the end of 2024 and average less than 900,000 bpd by the easing of U.S. sanctions.
Also tempering supply tightness concerns, analysts at Goldman Sachs estimated seaborne net oil exports for the six OPEC countries that announced cumulative production cuts worth 2 million barrels per day (bpd) from April 2023, just 0.6 million bpd below April levels.
Data from China, the world’s biggest crude importer, raised doubts about the demand outlook.
Crude oil imports by the world’s second-largest economy showed strong growth in October, but China’s total exports of goods and services contracted at a faster-than-expected pace, adding to fears of weakening global demand.
Adding to the pressure on oil prices is a modest recovery from recent lows in the U.S. dollar (.DXY), which has made oil more expensive for holders of other currencies.
Despite economic challenges, including high inflation and interest rates, oil-producing group OPEC expects the global economy to grow and boost fuel demand.
Meanwhile, China is expected to meet its annual GDP growth target this year, the country’s central bank governor said on Wednesday. Beijing has set an economic growth target of 5% this year.
Reporting by Stephanie Kelly and Muyu Chu Editing by Sri Navaratnam and Kim Coghill
A reporter based in New York covering the US crude market and member of the Energy Committee since 2018, he covers oil and fuel markets and federal policies related to renewable fuels. Contact: 646-737-4649
KHAN YOUNIS, Gaza Strip (AP) — Israel said Tuesday that its ground forces are battling Hamas militants deep inside Gaza’s largest city. A great new level During the month-long conflict, its leaders foresaw control of the enclave’s defenses after the war.
Pushing into Gaza City guarantees that the already-shocking death toll will rise further, while Prime Minister Benjamin Netanyahu’s comments about controlling Gaza security “indefinitely” point to an uncertain endgame for a war that Israel says will be long and difficult.
Israeli ground forces have been fighting Palestinian militants inside Gaza for more than a week, cutting the enclave in half and encircling it. Gaza City. The Army’s Chief Spokesman, Rear Adm. Daniel Hagari said Israeli ground forces are “now in ground operations deep inside Gaza City and putting enormous pressure on Hamas.”
Speaking from Beirut on Tuesday, Hamas spokesman Qazi Hamad denied that Israeli forces had made any significant military gains or that they had advanced deeper into Gaza City.
“They never give people the truth,” Hamad said. He added that scores of Israeli soldiers were killed on Monday and “several tanks were destroyed”.
“Palestinians fight, fight, fight against Israel until we end the occupation,” said Hamad, who fled Gaza days before the attack.
The Associated Press could not independently verify either side’s claims.
The Israelis remembered 30th Day – A Milestone of Jewish Mourning – Since Hamas Militants Killed 1,400 October 7 riots in southern Israel That sparked the war. About 240 people abducted by Hamas remain in Gaza during the offensive, and more than 250,000 Israelis have evacuated their homes near the borders of Gaza and Lebanon amid continued rocket fire into Israel.
A month of relentless bombing in Gaza has killed more than 10,300 Palestinians, two-thirds of them women and minors. Ministry of Health in Hamas-run territory. More than 2,300 people are believed to have been buried by the strikes, which reduced entire city blocks to rubble.
Palestinians search for survivors under the rubble of a collapsed building following an Israeli airstrike in the Khan Younis refugee camp in the southern Gaza Strip, Monday, Nov. 6, 2023. (AP Photo/Mohammed Tahman)
About 70% of Gaza’s 2.3 million people have fled their homes, and many of them are crammed into shelters that have become UN schools. Civilians in Gaza rely on aid and find their own daily food Food and water From supplies depleted after a week of siege.
Flee from the South
Israel unleashed another wave of attacks across the Gaza Strip on Tuesday And hundreds of Palestinians fled Gaza City towards the south.
Some came in donkey carts, most on foot, some pushing elderly relatives in wheelchairs, and all looked exhausted. Many have nothing but the clothes on their backs. “There is no food or drink, people are fighting in the bakeries,” said one person who did not want to be named.
Hundreds of thousands have heeded Israeli orders to move to southern Gaza out of the path of the ground offensive. Others fear doing so because Israeli troops control part of the north-south route.
But the bombing continued in the south.
Palestinians mourn their relatives killed in an Israeli bombardment in the Gaza Strip in Rafah, Tuesday, November 7, 2023. (AP Photo/Hatem Ali)
Photographs of Israeli hostages taken by Hamas militants hang on the walls of Jerusalem’s Old City, Monday, Nov. 6, 2023. (AP Photo/Leo Correa)
The Israeli Air Force destroyed several houses in Khan Yunis early Tuesday morning. An Associated Press reporter at the scene saw first responders pull five bodies — including three dead children — from the rubble. As a man carried the bloodied young woman, she cried until a rescue worker removed her from his arms, saying, “Let her go, let her go” to take her to an ambulance.
AP video from a nearby hospital showed a woman frantically searching for her son, then crying and kissing him when she found him, half-naked and bloody but apparently without serious injuries. A woman lay crying next to a child on a stretcher, apparently dead.
“We were sleeping, babies, children, old people,” said one survivor, Ahmed al-Najjar, who is director general of the Ministry of Education in Gaza.
In the city of Deir al-Balah, rescuers pulled at least four dead and several injured children from the rubble of a collapsed building, witnesses said. “My daughter,” said a woman running after them.
Israel says it targets Hamas fighters and infrastructure and accuses them of endangering civilians by operating among them.
At a school in Khan Yunis, thousands of displaced people were living in classrooms and a playground. One of them, Suhaila Al-Najjar, said the past month was full of sleepless nights.
“What’s coming? How shall we live? Bakeries are closed, no gas. What shall we eat?” she said.
A Palestinian looks at buildings destroyed by Israeli bombing in the Gaza Strip, Tuesday, Nov. 7, 2023. (AP Photo/Hatem Ali)
Netanyahu told ABC News that Gaza should be ruled by “people who don’t want to follow the path of Hamas.”
“I think Israel will have overall security responsibility, indefinitely, because we’ve seen what happens when it doesn’t. “When we didn’t have that security responsibility, Hamas terrorism exploded on a scale we never imagined,” he said.
Netanyahu did not clarify what form the security crackdown would take. The White House reiterated Tuesday that President Joe Biden does not support Israel’s reoccupation of the Gaza Strip after the war.
“We think there needs to be a healthy conversation about what a post-conflict Gaza looks like, what governance looks like,” said White House National Security Council spokesman John Kirby. He means “timeless”.
Israeli officials say the offensive against Hamas will last for some time and have not yet laid out a concrete plan for what will happen after the war. The defense minister said Israel did not seek a long-term reoccupation of Gaza, but predicted a low-intensity long-term struggle against “pockets of resistance”. Other officials talked about establishing a buffer zone that would keep Palestinians away from the Israeli border.
“Many options are being discussed after Hamas,” said Ofir Falk, a senior adviser to Netanyahu. “The common denominator of all the plans is that 1) there is no Hamas 2) Gaza is militarized and 3) Gaza is destroyed.”
Israel withdrew troops and settlers in 2005, but Gaza’s airspace, coastline, Population Register and border crossings, except for one in Egypt. Hamas seized power in 2007 from forces loyal to President Mahmoud Abbas, limiting his Palestinian Authority to parts of the occupied West Bank. Since then, Israel and Egypt have imposed varying degrees of blockade on Gaza.
In his ABC interview, Netanyahu for the first time openly hinted at “short pauses” in the fight to deliver aid to Gaza or release hostages. But he ruled out any general ceasefire without the release of all hostages.
Heavy fighting in the north
For now, Israel’s troops are focused on northern Gaza, including Gaza City, which was home to about 650,000 people before the war. Israel claims that Hamas has an extensive militant infrastructure within the residential areas Extensive subway network.
The military says it has killed thousands of Hamas fighters. The Gaza Health Ministry’s death toll doesn’t distinguish between civilians and fighters — and doesn’t include slain fighters who weren’t brought to hospitals. Israel also says 30 soldiers have been killed in Gaza since the ground offensive began.
Several hundred thousand people are believed to be staying in the north in the path of the attack.
Residents of northern Gaza reported heavy fighting on the outskirts of Gaza City from Tuesday morning to night. Shadi Refugee Camp – A built-up district settlement Refugees of the 1948 war surrounding the creation of Israel and their descendants – Residents reported heavy blasts for the past two days.
The war has also fueled wider tensions Israel and Lebanon’s Hezbollah militant group trade fire At the border. More than 160 Palestinians have been killed in the West Bank since the start of the war, mainly during gunfights with Israeli forces during violent protests and arrest raids.
Hundreds of people Trucks carrying aid They have been allowed to enter Gaza from Egypt since October 21. But humanitarian workers say aid falls far short of growing needs. of Egypt The Rafah Crossing was also opened Hundreds of foreign passport holders and medical patients must be allowed to leave Gaza.
___
Magdy reported from Cairo. Associated Press writer Amy Deibel in Jerusalem contributed to this report.
___
Full AP coverage https://apnews.com/hub/israel-hamas-war
(Bloomberg) — Stocks struggled for direction after their recent rally as traders navigated through a heavy slate of Federal Reserve speakers for clues about the central bank’s next steps.
Most Read from Bloomberg
The S&P 500 was little changed, following a six-day advance on short covering and speculation the Fed could be done with its tightening cycle. The dollar extended its rebound from its lowest level since September. Bonds rose after Bank of England Chief Economist Huw Bill pointed to a schedule of interest rate cuts by mid-2024. Oil fell below $80 a barrel.
Stocks rallied this month as bond yields retreated on bets that interest rates are peaking. However, top Wall Street strategists including Morgan Stanley and JPMorgan Chase & Co have said they do not expect the rally to last amid higher rates and sluggish growth.
Arthur Hogan, chief market strategist at B. Riley Wealth, says he wouldn’t be surprised to see stocks “chopped” for a few days as markets digest last week’s big moves in bonds and stocks as investors wait for the next round of key bonds. catalysts.
“What about the markets now?” said Jason Traho, head of asset allocation for the Americas at UBS Global Wealth Management.
Two US central bank officials stressed on Tuesday that their main focus is on bringing inflation back fully to the 2% target. Neel Kashkari, president of the Fed Bank of Minneapolis, said policymakers have not yet won the fight against inflation and will consider further tightening if necessary. His Chicago representative, Austin Goolsbee, said officials don’t want to “pre-commit” decisions about tariffs.
“We will pay particular attention to policymakers’ thoughts on what the recent changes in financial conditions and the nearly 50 basis point drop in 10-year yields and a strong rebound in equity valuations will mean for the path of monetary policy,” he said. Ian Lincoln is head of US rates strategy at BMO Capital Markets.
Meanwhile, November’s bond auctions will provide the first glimpse of the market’s appetite for additional term risk after the Treasury Department ramped up bids again in quarterly returns. This week’s 3-, 10- and 30-year offerings will be $112 billion and $103 billion in August repayment offerings, leading to continued bidding weakness, according to Ira Jersey, rate strategist at Bloomberg Intelligence.
Company Highlights:
UBS Group AG reported stronger-than-expected client inflows at its wealth management business, boosted by first signs of consolidation at Credit Suisse from a costly and complex merger with its former rival.
DR Horton Inc. It reported a worse-than-expected quarter of orders as rising mortgage rates hurt demand.
Uber Technologies Inc. It also gave a forecast for bookings and profits that topped analysts’ estimates, indicating strong demand for the company’s ride-hailing and food delivery businesses during the busy holiday season.
KKR & Co. It posted third-quarter results that beat Wall Street estimates as growth in its insurance business offset a decline in private equity asset sales.
Carlyle Group Inc. It reported a 43% drop in distributable income in the third quarter as the company took cash from fewer bets amid a slump in deal-making across Wall Street.
WeWork Inc. The bankruptcy filing ended a tumultuous period that saw the once-high-flying startup experience a failed initial public offering, Covid-19 lockdowns, a blank-check merger and slow returns to the office.
UniCredit SpA is seeking to renegotiate its processing agreement with payments company Nexi SpA, a further sign of how Chief Executive Officer Andrea Orcell is working to reshape Italy’s second-biggest lender.
Highlights of this week:
Euro zone retail sales, Wednesday
Germany CBI, Wednesday
BOE Governor Andrew Bailey speaks Wednesday
US Total Inventories, Wednesday
New York Fed President John Williams speaks Wednesday
The Bank of Japan publishes a summary of October comments on Thursday
BOE Chief Economist Huw Pill talks about the economy on Thursday
US Initial Jobless Claims, Thursday
Central Bank President Jerome Powell will participate in a panel on monetary policy challenges at the IMF’s annual research conference in Washington on Thursday.
Atlanta Fed President Rafael Bostick and his Richmond counterpart Tom Parkin speak Thursday
UK industrial production, GDP, Friday
ECB President Christine Lagarde will take part in a fireside chat on Friday
American University of Michigan Consumer Sentiment, Friday
Dallas Fed President Lori Logan and her Atlanta counterpart, Raphael Bostick, speak Friday
Some key movements in the markets:
Shares
The S&P 500 was little changed at 9:57 a.m. New York time
The Nasdaq 100 rose 0.5%
The Dow Jones Industrial Average was little changed
The Stoxx Europe 600 was little changed
The MSCI world index fell 0.4%
Coins
The Bloomberg Dollar Spot Index rose 0.4%
The euro fell 0.4% to $1.0675
The British pound fell 0.4% to $1.2297
The Japanese yen fell 0.4% to 150.63 per dollar
Cryptocurrencies
Bitcoin fell 0.5% to $34,855.2
Ether fell 0.7% to $1,879.2
Bonds
The yield on 10-year Treasuries fell five basis points to 4.60%.
Germany’s 10-year yield fell six basis points to 2.67%
Britain’s 10-year yield fell nine basis points to 4.29%.
materials
West Texas Intermediate crude was down 2.9% at $78.47 a barrel.
Spot gold was down 0.9% at $1,961.02 an ounce
This story was produced with the help of Bloomberg Automation.
2nd Update, Exclusive, 10:29 PM: SAG-AFTRA and the studios finally called it a night in the latest negotiations to seek a new three-year contract.
In the last 30 minutes, the Actors’ Union and AMPTP have concluded the long bargaining session that started this afternoon. The thinking is that they will resume negotiations on Tuesday the 117thTh strike day However, at this late date, no firm time has been set yet.
Tonight’s meeting was a virtual gathering, with CEO Gang of Four joined by AMPTP boss Carole Lombardini and SAG-AFTRA chief negotiator Duncan Crabtree-Ireland and more. Netflix’s Ted Sarandos, NBCUniversal’s Donna Langley, Warner Bros. Discovery CEO David Zaslau and Disney’s Bob Iger have been participating in live talks since the latest round of talks began on Oct. 24. More pressure than usual this weekend with the quarterly earnings reports of respective companies.
However, everyone seems to be aware of what is at stake for the industry as a whole, we are told.
“It’s a production session, there’s still some work to be done before a deal is in place,” a studio insider told Deadline of tonight’s meeting. ” last week. “There’s still some serious daylight between us, at least for now,” the insider added.
David Chaslau, Ted Sarandos, Donna Langley & Bob Iger
Ketty
As it has been for months, AI remains one of the main issues dividing the two sides. The studios are seeking to seal the deal with what they call an “expanded version of what the WGA agreed upon.” Well-placed sources on both sides agree that part of the problem comes with effective safeguards for a technology that is evolving in leaps and bounds.
Updated, 4:20 pm: As the back-and-forth between SAG-AFTRA and the studios continues Monday, the end of the 116-day actors’ strike may not be immediate.
“We still do not have a contract for many essential items, including AI,” the guild said in a letter to members in the last hour. “We’ll keep you posted as events unfold.”
Here is the full letter:
Dear Member,
This morning our negotiators formally responded to AMPTP’s “last, best and final” offer.
Please know that every member of our TV/Theatrical negotiating team is committed to securing a fair deal and thereby responsibly ending this strike.
We still have many essential items that we don’t have an agreement on, including AI. We’ll keep you posted on events as they unfold.
With solidarity and gratitude,
Your TV/Theatrical Negotiation Team
The letter follows Guild’s response to the studios’ “last, best & final” offer of a new TV and film deal. As Deadline reports, the parties are planning new talks, which will begin as soon as this evening.
AI has been one of the primary sticking points between the two sides since initial talks began in June. Since that time, technology has evolved so rapidly that there are questions on both sides about how many protections can actually be put into a new three-year contract.
“It’s not bulletproof, and everyone has to recognize that,” a studio executive told Deadline today about any potential AI deal. With IATSE and Teamsters negotiations looming next year, the executive noted that it will be months before the studios renegotiate the next three-year contract with the DGA, WGA and SAG-AFTRA.
Earlier, 2:38 pm: Exclusive: A deal may not be in the cards tonight, but SAG-AFTRA and the studios will return to negotiations in a few hours.
Hopefully the two sides will talk later today and possibly into the night.
According to a guild source, for now, no meetings have been formally set up, but they expect to be locked in “very soon”.
It is currently unclear whether NBCUniversal’s Donna Langley, Warner Bros. Discovery’s David Zaslau, Disney’s Bob Iger and Netflix’s Ted Sarandos will attend the new talks, which include Guild chief negotiator Duncan Crabtree. and AMPTP President Carole Lombardini.
The potential latest sit-in comes as the striking actors’ union earlier on Monday sent a response to what it called AMPTP’s “last, best and final” offer on November 3.
That response has been “measured,” as a guild member close to the negotiations says on this 116th day of the SAG-AFTRA strike. The guild spent much of the weekend “reviewing” hundreds of pages from the studios — a response to SAG-AFTRA’s “comprehensive counter” in late October.
“Everybody knows where everybody stands,” a studio insider told Deadline this afternoon. “Now, it’s about bringing it home if we can,” he said with some hope. Despite the ominous tone of the studio’s most recent offer, the tactic hasn’t truly ruled out talks between the two sides this week.
The studio’s offer has “a lot to digest” for SAG-AFTRA, according to a source, whose details include the biggest pay raises for actors in 40 years. Additionally, there was a 100% increase in performance compensation bonuses for high-budget streaming series and films in the AMPTP package, which briefed Guild brass on November 4 on a Zoom call. The crown jewels in the studio’s suite could be called “full” AI defenses. Including health and pension fund contributions and more, executives felt their offer went “a long way from what SAG wanted,” according to an industry source over the weekend.
RELATED: Posted on Picket Lines: Striking NYC Actors on Stress, Hope, Fran Tresher & Yoga
Or, as Netflix co-CEO Sarandos told SAG-AFTRA leaders Saturday, “We didn’t come to you, we came to you.” If the executives thought it was going to pass them by now, clearly they were disappointed. A person on the studio side, expecting a deal on Sunday night, told us they had to stop production on the plan, which is ramping up today.
Even with the writers’ strike over, you’ll remember that filming television and special productions is tricky. The SAG-AFTRA strike was in full swing, halting filming of B-roll along with extras for Netflix’s Nicole Kidman limited series. A perfect pair on Sept. 28 in Nantucket. It doesn’t matter where Hollywood is shooting; The guild keeps them in check. problem with A perfect pair It used non-Guild members as on-camera extras, a major obstacle for local union actors in Massachusetts.
RELATED: Optimist Fran Tresher slams criticism from SAG-AFTRA leadership: “I can be me”
The combination of the now-settled WGA strike and the ongoing SAG-AFTRA strike is estimated to have cost the California economy more than $6.5 billion so far. Another downfall was the loss of 45,000 jobs in the entertainment industry as guild members united, realizing the financial crisis, and the near-total cessation of production.
If a new deal is reached, how quickly the cast can return to work and promote new TV series and movies remains in question. With SAG-AFTRA’s size at 160,000 members, it was calculated that it was unlikely that the actors would return to work during the contract ratification, which was the case for the 12,000-strong WGA, whose members returned before the final vote on their new contract. .
In that context, SAG-AFTRA members and their allies were out in force today in front of studio lots and offices in Los Angeles and New York, with nearly a full week of walkouts now planned. This week will see two high-profile CEOs facing Wall Street scrutiny as Warner Bros. Discovery and Disney both release their latest quarterly earnings and plan for the new year.