News 

Fed’s Mester: Weakness in hiring and consumer needed for material reassessment of economic outlook

“CLEVELAND (Reuters) – Cleveland Federal Reserve President Loretta Mester said on Thursday that it would take a slowdown in hiring or consumer spending for her to reassess her outlook for the U.S. economy” writes Midwest Communications Inc for 95kqds.com. Mester reiterated her view that monetary policy is in a “good spot” and said that while she did not support the three rate cuts passed this year, she understood the argument for how it could address the potential risks from a weak business investment, a global slowdown and uncertainty over trade…

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Sanofi weighing options for consumer healthcare unit: sources

“FRANKFURT/PARIS (Reuters) – Sanofi is considering a joint venture or outright sale among options for its consumer healthcare unit, sources told Reuters, as the French drugmaker prepares to present a new strategic plan next month” writes Midwest Communications Inc for 95kqds.com. Britain’s GlaxoSmithKline , in turn, has created the market leader after agreeing to combine its consumer healthcare unit with that of U.S Pfizer last year.Sanofi swapped its animal health unit with Boehringer Ingelheim for the German company’s consumer healthcare operations in a $20 billion deal closed in 2017.Shares in…

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Treasury Yields Fall Again as U.S. Economy Teeters on the Brink of Contraction

“For the fifth time in six days, U.S. government bond yields declined on Monday as demand for Treasurys rose” writes Sam Bourgi for ccn.com. The U.S. economy is headed for its worst quarter in years as lackluster consumer spending and a deep contraction in manufacturing take their toll.With factory output slipping, consumer spending continues to do much of the heavy lifting for the U.S. economy.The 30-year Treasury bond also saw its yield drop to 2.28% after reaching a high of 2.34%. Source: ccn.com

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U.S. companies say consumer still strong even as broader outlook dims

“The number of companies mentioning a strong consumer in the third-quarter season is roughly in line with the number in the second-quarter reporting period” writes Midwest Communications Inc for 95kqds.com. Homebuilder Lennar Corp, MasterCard and Tapestry were among companies alluding to healthy consumer spending during the current reporting period.Reports of strong demand from companies are a welcome sign to some in the market amid weakening manufacturing activity and a slump in business investment.To be sure though, business investment has been easing, and plenty of companies have given a more cautious…

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News Platforms 

Adyen keeps focus on organic growth as it launches cards product

“Adyen’s payments platform, which focuses on card acceptance, processing and settlement for online payments, has emerged as a favorite of technophile clients – including Facebook, Uber and Spotify” writes Midwest Communications Inc for 95kqds.com. It will be possible to use Adyen cards online, in smartphone apps or in shops, while they can also be integrated into mobile wallets.BARCELONA (Reuters) – Dutch fintech Adyen’s focus is on organic growth as it launches a virtual and physical card-issuing business to complement payments services it already offers merchants, Chief Financial Officer Ingo Uytdehaage…

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Trump threat of more China tariffs could hit consumer goods before Christmas

“Trump could theoretically increase tariffs already imposed on $250 billion of Chinese goods, according to congressional aides, former U.S. officials, and trade experts” writes Midwest Communications Inc for 95kqds.com. Trump on Tuesday said a trade deal with China was “close,” but offered no details and warned that he would raise tariffs “substantially” on Chinese goods without a deal.White House advisers said last week the Dec. 15 tariffs would likely be averted if a “phase one” trade deal was reached.Known as the “4B” list of goods https://www.strtrade.com/assets/htmldocuments/USTR%20301%20List%204B.pdf, those tariffs would hit…

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Crypto News Platforms 

Abra Adding 60 New Cryptocurrencies in Consumer Adoption Push: Report

“California-based cryptocurrency wallet and investment service Abra is adding a total of 60 new cryptocurrencies to its platform, reports suggest” writes William Suberg for cointelegraph.com. As Cointelegraph previously reported, institutional trading platform Bakkt released its Bitcoin custody solution this week, something it considered a critical step to broader adoption.Abra focuses on the slowly-expanding consumer adoption curve for cryptocurrency, at a time when attention continues to focus on the institutional sector as fresh offerings come online. Source: cointelegraph.com

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Consumerist society? That’s what’s keeping the U.S. economy out of recession

“Households boosted spending by 4.6% in the spring and nearly 3% in the summer to offset back-to-back drops in business investment and whispered talk of recession” writes Jeffry Bartash for marketwatch.com. Again. “Recent trends of soft business investment offset by solid consumer spending therefore looks set to continue into 2020,” Deutsche Bank economists predicted.Strong consumer spending has given the economy a backbone to withstand spine-tingling political fights at home and abroad.Like a stiff tent pole, consumers are keeping the U.S. economy propped up.Companies have been walking on eggshells, so to…

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U.S. September consumer credit grows at slowest rate in 15 months

“What happened: Revolving credit, like credit cards, fell for the second straight month in September” writes Senior Economics Reporter for marketwatch.com. The numbers: U.S. consumer borrowing grew in September at the slowest rate in fifteen months, according to Federal Reserve data released Thursday.Non-revolving credit, typically auto and student loans, rose 4.2% in September, the slowest rate in four months.Total consumer credit increased $9.5 billion, down from $17.8 billion in August.It is the third decline in revolving credit in the past four months. Source: marketwatch.com

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September consumer credit grows at slowest rate in 15 months

“What happened: Revolving credit, like credit cards, fell for the second straight month in September” writes Senior Economics Reporter for marketwatch.com. Nonrevolving credit, typically auto and student loans, rose 4.2% in September, the slowest rate in four months.Total consumer credit increased $9.5 billion, down from $17.8 billion in August.It is the third decline in revolving credit in the past four months. Source: marketwatch.com

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